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The ＂depth＂ analyst is busy with the ＂transfer＂, and the change of the brokerage research institute is coming.

Interface journalist | Chen Jing Sun Yizhen

Interface news editor | Jiang Yiman

"Shuffle is inevitable, the only difference is the strength."

"Out of the water, beauty dying. The brokerage research institute has a sense of decline. "

"There are too many changes, and it is too fast. After seeing a news for two days, another research institute has to change people."

"Some people jump ship for better opportunities; Others are forced to leave to find new opportunities. "

In the face of the recent news of personnel changes from a number of brokerage research institutes, people in the industry have issued various sighs. These changesIn China, the management turnover of brokerage research institutes has increased significantly, among which there are many changes in industry benchmark figures. At the same time, the frequent job-hopping of star analysts attracts people’s attention, and it is not uncommon to take the original team "group" to a new owner.

In addition, ordinary analysts are also surging silently in this wave of personnel turmoil.

The continuous personnel adjustment has made the atmosphere of the seller’s circle, which was already caught in the dilemma of commission reduction, layoffs and declining income, more and more tense. Frequent personnel changes, why did it happen at this time?How will the pattern of seller’s research institute evolve in the future?

Seller’s personnel speed up the flow, and become the industry benchmark.Farewell institute

"The flow of talents is increasing. Under the background of the industry of commission reduction, some contradictions will indeed be re-exposed." Recently, a director of the brokerage research institute told the interface news.

Since the beginning of this year, brokersThe personnel changes in the institute have increased significantly. According to the data of China Securities Association, there were 50 changes in analyst information in February alone. Among them, the brokerage research instituteThe change of the director is particularly interesting.

In March, Xia Changsheng, former deputy director of Caitong Securities Research Institute, took up the post of executive deputy director of Xinjin Securities Research Institute, in charge of industrial policy and financial industry.

In the same month, the director of Debon Securities Research Institute also changed.On March 11th, Director of Debon Securities Research InstituteRen ZhiqiangJoined Hua Fu Securities as assistant to the president and director of the research institute, and Cheng Qiang, the former Debon Securities, took over as its director; At the same time, another deputy director, Wu Kaida, resigned from the relevant position and took up his post as the chief strategy officer and the president of the Policy Research Institute in TF Securities. The macro strategy team of Debon Securities joined Founder Securities.

In February, Li Junsong ceased to be the director of the Capital Securities Research Institute, and Wei Zhichao, the chief economist, became the head of the company’s research and development department, and now he has presided over the work of the department.

It is worth noting that in the recent frequent changes in the management of the seller,There are many industry benchmarking figures.

On March 1st, Guotai Junan Institute held a conference, at which it was announced that Huang Yanming would no longer serve as the director of the Institute, but be the dean of Guotai Junan Finance College, a member of the Wealth Committee and the chief strategy officer.

Huang Yanming is known as the "general teacher of A-share research" in the industry and has been the director of Guotai Junan Research Institute for more than ten years. heThe self-created "three flowers" theory and the "2+1" thinking of securities research also have a wider influence in the industry.

It is reported that the School of Finance is mainly responsible for all kinds of training within the company, especially for investment training. It can be seen that Huang Yanming bid farewell to the Institute and embarked on it.The road of "turning from outside to inside"

In the same month, Zhou Liqian, former director of Hua Fu Securities Research Institute, stepped down.As a member of the Party Committee of Xingyin Growth Capital Management Co., Ltd.

At the same time as the director changes, star analysts are also frequently flowing.

In February, Jiang Peishan, the former chief revenue officer of Haitong Securities, joined Western Securities to replace Du Xian, the former chief revenue officer of Western Securities.Liu Chenming, the former chief strategist of TF Securities, also officially took up his post as the chief strategist of the Research and Development Center of GF Securities. Guosheng Securities has also loosened. Zhang Junxiao, who previously served as the chief analyst of Guosheng Securities Strategy, resigned and joined Penghua Fund, and served as the head of the total cycle group.

In addition, Dai Chang, the chief automobile officer of Industrial Securities Research Institute, took the post of deputy director and chief automobile officer of Xinguohai Securities.

It is worth noting that the phenomenon of analysts’ "group" job-hopping occurs from time to time. Guohai Securities Research Institute, which just entered the "100 million yuan club" last year, recently experienced a collective job-hopping: Sheng Changsheng, Sun Bowen, Peng Qi and Jing Danyang, the former building materials construction team of Guohai Securities Research Institute, joined Hualong Securities Research Institute, Sheng Changsheng served as the director of the institute, and Sun Bowen planned to serve as the assistant to the director; Yang Yang, chief analyst of Guohai Securities Public Utilities and Small and Medium-sized Team, joined the company and plans to be the deputy director.

At the end of last year,Many chief analysts of changjiang securities Research Institute have "organized" job-hopping to Guolian Securities.

Interface news query on the website of China Securities Industry Association found that the practice registration information of many former chief analysts of changjiang securities Research Institute has changed, mainly including Bao Chengchao, former chief strategist of changjiang securities, Gao Deng, former chief analyst of automobile industry, Guan Quansen, former chief social service analyst Gao Xu, and former military industry analyst Wu Shuang.

Regarding the phenomenon of analysts’ group job-hopping, insiders said: "Under the light asset model, the competition of brokerage research institutes is manifested in the competition of talents. In the field of seller research, star analysts have significant influence. However, the alternation of old and new teams often takes a lot of time and energy and needs to be re-run-in. This has also led some analyst teams to choose to leave, because cooperation in familiar teams usually gets twice the result with half the effort. "

"In the field of research and general analysis, leaders and analysts will go through the process of selection and being selected. The strong can be retained, while those with insufficient adaptability face elimination. This is a long-standing law in this industry. " A brokerage chief said.

The analyst’s change is undercurrent, and some pressure is inevitable.

"People who have finished leaving and joining are usually paid more attention, while those who are looking for opportunities are surging in the dark." A director of a medium-sized brokerage research institute revealed to the interface news.

He said: "From years ago to now, I have been talking and interviewing in various ways. Some people leave their jobs voluntarily in order to find better opportunities; Others were forced to leave to find new opportunities because of their poor performance in the original company. "

"At present, the number of brokerage research institutes is continuing to be streamlined, and colleagues have been laid off and their salaries have been reduced. Everyone is under great psychological pressure." Some brokerage analysts said.

Interface news learned that the market is not good and the competition is becoming more and more fierce, and the brokerage research institute is under pressure, and this pressure is constantly transmitted to employees.

"The market is not good, and various brokerage research institutes are studying the end elimination scheme. Some head brokers have started to try out similar schemes. If the assignment is not up to standard, the company will dismiss or transfer posts on the grounds of’ incompetence’ or’ poor performance’. " A brokerage chief told the interface news.

He said that the company has to make an internal defense for employees with less than 1% of the distribution points, so it is usually under great pressure.

Last June,Interface news learned exclusively from the source that the research institutes such as Guosheng Securities and Everbright Securities issued the Regulations on the Trial Administration of Research Team Staffing Scheme (hereinafter referred to as the "Scheme").Among them, it is required that all research teams set posts in strict accordance with the proportion of distribution points. If the current headcount ratio level is higher than the dispatching point ratio level, stop increasing the staffing. After one year, it is still higher than the proportion of dispatching points, and then the personnel will be eliminated to the proportion of dispatching points.

The so-called "distribution system",It refers to an assessment mechanism of securities investment consulting services provided by the buyer’s institution to securities firm researchers. Whoever has valuable research will get higher points, and the brokerage will get higher commission.The main source of income for domestic brokerage research institutes is Public Offering of Fund’s sub-warehouse commission.

Relevant people commented: "The situation of Guosheng may not be a case in the industry, and more radical small institutions or platforms may tend to adopt this approach."

"When the industry is facing difficulties, business areas such as brokerage, self-management and investment banking will shrink. In the ecosystem of securities firms, research institutes are not the main profit-creating departments, and the research institutes of domestic securities firms are usually in a state of breakeven, and the operating costs are relatively high. Therefore, when the market is not good, it is inevitable to make post adjustments. " Director of Hua Zhongyi Medium-sized Brokerage Research Institute told the interface news.

The sell studies that reduction of "cake",employee"Supply exceeds demand"

Commission reduction and fee reduction are regarded as catalysts for the turmoil of industry personnel.

"At the moment, the seller’s personnel are loose and come to a peak. Commission reduction is the core reason, and the original profit model under strong supervision has begun to work. In addition, another important factor is the long-term downturn in the market. Brokers have no money to burn, and researchers must bear the brunt. " Some practitioners from the brokerage research institute told the interface news.

A senior analyst told Interface News: "The staff of the Institute has changed greatly, mainly due to lowering the commission rate of securities trading in Public Offering of Fund and lowering the upper limit of the commission distribution ratio of securities trading, so the Institute cannot contribute to the company’s high income."

On July 8, 2023, the head of the relevant department of CSRC answered a reporter’s question on Public Offering of Fund’s rate reform, and said that according to the actual development of the industry and the needs of investors, CSRC has formulated a work plan for Public Offering of Fund’s industry rate reform, which combines supervision, guidance and promotion with the initiative of the industry, guides Public Offering of Fund’s industry to carry out the rate mechanism reform steadily and orderly, and supports Public Offering of Fund managers and other industry institutions to reduce the fund rate reasonably.

The non-bank team in TF Securities pointed out that the average commission rate in the market was 0.023% in 2022 and 0.021% in the first quarter of 2023, which means that the commission rate for public offering will be reduced to around 14,000, a decrease of nearly 50%.

"According to the data in 2022, we expect that the overall public offering commission will give investors about 9.5 billion yuan, accounting for 2.4% of the brokerage’s revenue in 2022; Some brokers with relatively high research business income are greatly affected. " TF Securities thinks.

According to the calculation of the non-bank financial team of Ping An Securities, based on the revenue and profit of the securities industry in 2022, the decline in brokerage commission will lead to a 2.1% decrease in industry revenue and a 5.7% decrease in net profit.

Assuming that the percentage of the brokerage commission decrease of listed brokers is the same as that of the industry, the revenue decrease of head brokers is basically around 1%, and the performance of some small and medium-sized brokers featuring seller research may have a relatively great impact. For example, TF Securities and changjiang securities estimate that the revenue decrease is about 12.9% and 6.4% respectively.

Industry insiders worry that the overall purchasing power of fund companies may decline under the general environment of reducing commissions and fees.

"This will lead to more brokers willing to reduce the transaction commission to attract customers, thus triggering a new round of To B commission war." A non-bank analyst of a medium-sized brokerage in North China told the interface news.

Wind data shows that head brokers with strong comprehensive strength, such as CITIC Securities, CITIC Jiantou, Guangfa Securities, China Merchants Securities and Guotai Junan, have the highest ability to obtain sub-warehouse commissions. Changjiang securities, TF Securities, Zheshang Securities, soochow securities and other characteristic securities firms with strong research strength have also gained a considerable share in the market.

"Although the sub-warehouse commission income only accounts for a small part of the total income of the securities industry, it is still an important source of profit for brokers mainly engaged in research business. This rate reduction has had a direct impact on most brokerage research institutes. " The person in charge of a large brokerage research institute in Beijing said.

"In addition to the research service itself, the commission paid by the institution also includes the cost of product sales and soft services. Usually, research expenses account for about 30%-40% of the total commission, and some brokers set the commission distribution ratio of investment and research services, channel consignment rebates and inclined shareholders to 40%, 40% and 20%. " The head of a large brokerage research institute in East China told the interface news.

"In contrast, the proportion of large brokers in commission income is not high, while the competition for market share of small and medium-sized brokers will be more intense." The person said.

In addition, there are frequent changes in brokerage researchers, and some reasons areIn recent years, the number of employees has been growing.The state of "supply exceeds demand" has also led to serious volume in the industry.

Choice data shows that by the end of January 2024, the number of analysts registered with the Securities Industry Association had reached 4,636, an increase of over 700 over the same period of last year; At the same time, the number of brokerage research institutes with a scale of more than 100 people has also increased from 6 in 2019 to 13 in 2024.

"The number of analysts who have left and re-searched for opportunities has increased significantly, which has also given the impression of external talent surplus." A brokerage chief said.

With the acceleration of the transformation of brokerage research institutes, how will the industry competition pattern evolve?

In fact, the personnel changes in the brokerage research institute have intensified, which further reflects that the pace of transformation and reform in the brokerage research institute is accelerating.

There have been many discussions in the industry about the transformation of the institute.Among them, there are many ways to explore, including cooperating with internal services and gradually changing the absolute dependence on the commission of public offering. Previously, a number of brokers emphasized in their financial reports that they should improve the efficiency of research transformation, coordinate internal and external empowerment, and explore diversified income models.

Dongxing securitiesChief analyst of non-bank financial industryLiu Jiawei believes: "In the profit structure of brokerage research institute, the proportion of income brought by research services will continue to increase and eventually reach a very high value. At the same time, it is inevitable to provide internal services, especially for brokers whose shareholders are group companies. "

However, at present, the profit contribution of collaborative business is less, and the brokerage research business mainly depends on the commission of sub-positions.

"The future development prospect of the research institute’s inward service is actually unclear. How to coordinate and run in with various departments is a great test. For the researcher personally, the salary assessment system will also change. Even if it is transferred to the interior, it is inevitable to reduce the salary in the current environment." Some brokerage analysts said.

He believes that for individual researchers, it used to be one of the common paths of career development to change jobs from "seller" to "buyer". However, if the research institute turns to internal service, researchers may not be able to contact institutional investors, and it is difficult to see the market performance of the research results.

Liu Jiawei said,It is still difficult to realize the mode of making profits solely by internal services for the time being. Large brokerage firms have relatively more resources and high quality, while small and medium brokerage firms are more dedicated to services. But no matter how big or small, it is a long-term solution only if you can get income continuously and stably.

Jiang Han, a senior researcher at Pangu think tank, believes that the reform and transformation of brokerage research institutes can be exerted in many ways. First of all, in the face of the new situation, the brokerage research institute can consider transforming into a research institution that pays more attention to depth and professionalism, and strengthen the research on specific sub-sectors or themes. Secondly, by integrating internal resources, the institute can strengthen the linkage with other business departments, provide integrated financial service solutions, and improve the added value of services. Thirdly, brokerage research institutes should actively embrace digital transformation, use advanced technologies such as big data and artificial intelligence to improve research efficiency and quality, and develop intelligent investment research tools and platforms to provide customers with more convenient and efficient service experience.

In the eyes of the industry, under the background of Public Offering of Fund’s commission reduction and fee reduction, the research business is facing the problem of reduced income and intensified personnel turnover, which will have a far-reaching impact on the seller’s competition pattern and business layout.

"Under the general trend, the head brokerage research institute with a certain scale is no longer limited to the competition of sub-warehouse commissions, but more attempts are made to develop in the direction of integrated financial services. Internally, they cooperate more closely with business departments such as self-management, asset management and investment banking; Externally, they strengthen the coverage of industrial research and large asset management to expand the scope of their own research. " The person in charge of a large brokerage research institute in Beijing said.

He believes that from the perspective of the future development pattern of the institute, the trend of investment banks and institutions becoming more and more obvious, and the trend of decentralization of the institute in the past is also changing.

Reporting/feedback

Zhang Juncheng： The Struggle and Dream of a Peking University Security Guard

　　introduction

　　Zhang Juncheng wanted to go out to work, but his mother didn’t agree. He grinded his mother for two years and finally got permission. When he went to Beijing, he left a message to his mother, "I won’t come back until I make a name for myself." However, in more than two months, this sentence was countered by my mother.

　　Many years later, when this matter was mentioned, Zhang Jun Cheng said that although it seemed like a very bad thing at that time, looking back now, stumbling blocks can actually be turned into stepping stones, depending on what kind of mentality to face.

　　
Professor Cao of the English Department sent a free lecture card: "I don’t want you to be moved, I want you to act."

　　Zhang Juncheng clearly remembers that he had just been a security guard at Peking University for more than two months. One day, he stopped several people who insisted on visiting Peking University. He even gesticulated and saluted to dissuade him, but the other party could not speak Chinese, did not understand what he meant, and his face was full of dissatisfaction. They stood neatly across the street, lined up and gave him a thumbs-up sign. At first, Zhang Juncheng was a little puzzled. Did foreigners praise him for his duty? Then, the opposite row of thumbs fell off in order, and then look at people’s expressions, Zhang Juncheng understood.

　　There is a lot of injustice in the security post, but this time it is different, which is obviously an insult. He went back to the security room, threw off his hat and belt, and called his mother in his hometown: "Mom, I quit. I want to go home. I was born to farm." Knowing what happened, my mother asked, "Did you make a name for yourself?" Mother hung up the phone before he could answer.

　　When I called back for the first time, I was embarrassed by my mother. The security guard on one side enlightened him. "It’s not easy to come out of the countryside. You will encounter any situation when you are a security guard at Peking University. Today’s things are not entirely your fault …" Dressed again, Zhang Juncheng returned to his post and continued his work.

　　He bought two English books after work.

　　You can’t watch on the day shift, but Zhang Jun pondered over the night shift. His basic knowledge of English is what he learned in junior high school in the village. He doesn’t know any tense or grammar, but dares to read English books when no one is around at night. One night, a female teacher asked him curiously what he was doing. "Aunt, I am reading English." Zhang Juncheng’s answer surprised and moved the teacher: "It’s a good thing to be eager to learn, but I heard you read it these days and thought you were speaking German. If you say this, it will drive foreign people crazy. "

　　The teacher wrote down his name.

　　Zhang Juncheng didn’t take this matter to heart, but he remembered the teacher. Whenever he met him, he said hello. The teacher once asked him what he learned every day. A: At three o’clock at night.

　　More than a month later, the female teacher called the security room and asked for Xiao Zhang.

　　"Which Xiao Zhang?" The person who answered the phone was at a loss.

　　"It is to torture my Xiao Zhang with’ German’ every day and let him go to the English Department." It turns out that this teacher is Cao Yan, a professor of English at Peking University.

　　Professor Cao took out two listening cards, the blue one was trained before GRE, and the white one was from the adult college entrance examination training class.

　　When Zhang Juncheng saw it, he panicked. He couldn’t understand the English class at the university.

　　Professor Cao said that you can selectively take basic courses such as Xu Guozhang English and New Concept English. Those who have English and Chinese can also ask teachers if they don’t understand.

　　He still didn’t dare to answer: "Teacher, let me tell you the truth, I earn more than 200 yuan a month, and I have seven brothers and sisters. I have to send money to my family every month, so I really can’t afford the tuition."

　　Professor Cao said it was free …

　　"I’ve been out for two or three months, and my mother doesn’t care so much about me. I must study hard …" Zhang Juncheng was incoherent.

　　Professor Cao said, "Auntie, you want to learn. You have done a lot of good things in Peking University. As we all know, learning is also to serve Peking University better. You can talk to foreigners. Don’t cry …"

　　Professor Cao also introduced the methods of study or further study available at Peking University at that time, including self-taught examination and adult college entrance examination. Zhang Juncheng keeps a word in mind.

　　It took him fifteen minutes to walk back after three minutes’ running. The tuition fees of these two English training classes are several thousand yuan. He repeatedly looked at the attendance card along the way. Professor Cao not only found his photo posted from the school health security team, but also greeted the leaders of the security team, asking them to consider his class time when scheduling, and introduced his situation to the training class teacher.

　　Professor Cao’s words rolled around in his heart: "I don’t want you to be moved, I want you to act."

　　At the same time, I have to take classes to learn English. The Peking University Security Team has no precedent.

　　There is a conflict between the shift schedule and the time of class, so changing clothes has become a barrier. Wearing a security suit in class, he was worried about being looked down upon, so every time he went to the classroom, he would put on casual clothes, and when he handed over his post, he sprinted back to the dormitory and put on a security suit. On one occasion, he just changed his security uniform and stood on the post. When he saw his classmates face to face, he was in a complicated mood and pretended not to know them.

　　After a long time, some students directly asked him what was going on. "How can you be so fast? You were in front of me just now."

　　He replied, I can’t help it, I have to make money.

　　The classmate said, "You are amazing!" From then on, he tried not to change clothes in class. From the eyes of his classmates, he saw admiration and encouragement.

　　The most difficult barrier to overcome is that he can’t understand the class. He asks his classmates, teachers, makes up notes and practices listening. He often apologizes to the teacher: "Am I the dumbest student you have ever taught?" The teacher said, "It doesn’t matter, I can give you extra meals."

　　
Professor Zhang from the Department of Western Languages invites him for a walk every day: the unnamed lake talks about philosophy and politics.

　　After learning from Professor Cao that he can go to Peking University through adult college entrance examination or self-taught examination, Zhang Jun’s achievements began to exert strength. Analyzing the recruitment majors of adult education and self-taught examination in Peking University, science is unrealistic and liberal arts is limited, so he chose the law of adult college entrance examination. At that time, there were only four months left before the adult college entrance examination.

　　With the foundation of his rural junior high school culture, it is difficult to complete the review of English, Chinese, mathematics, politics, history and geography. He carefully found the captain. "If you want to study, you have to set an example as a monitor. You can only work harder." He applied for the night shift during the preparation stage, and worked 24 hours a day without rest on Saturday and Sunday. Later, the captain and his teammates felt sorry for him, and the weekend did not let him go to the full post.

　　During that time, he only slept for three or four hours every day, except for the standing time, he studied with books, a thick series of adult college entrance examination counseling books, texts and exercises, and learned and brushed the questions by himself. Before attending the English tutoring class, he will preview it two or three times and draw out what he doesn’t understand. Some of them can be solved during the class, and some of them don’t understand and ask after class.

　　Seeing that Zhang Juncheng worked hard to prepare for the exam, watching him salute and say hello to more and more teachers and students who came in and out of the school gate, the security guards also signed up for the adult college entrance examination one after another. First, there were three people in Ximenggang, and then there were more than ten people, as well as those who recited English, read books and kept diaries. The learning atmosphere in the school guard became stronger and stronger. 10 o’clock is the time to turn off the lights, but there are always security guards lying in bed reading with flashlights. Captain Wang Guiming simply opened the conference room of the school guard, and the time to close the door and turn off the lights was delayed until late at night.

　　His hard-working figure is well-known not only in the guards of Peking University, but also in the eyes of teachers and classmates.

　　Zhang Yushu, a professor from the Department of Western Languages, made an appointment with him, and walked in the Weiming Lake at sunset every day for half an hour or an hour, which lasted for nearly a year. Professor Zhang has a passion for philosophy. On the unnamed lake, there is the breeze, the fragrance of flowers and the light of the sunset. He talks about Marx, Nietzsche, Hegel and Schopenhauer, about Chinese and Western philosophy and politics, and about the law of dialectical unity of opposites, qualitative change and quantitative change, and negation of negation. In his mouth, the willow leaves on the lake can be said to fall into the water. It was the happiest moment of Zhang Juncheng’s day, and it became the best time of his life. What he learned benefited him all his life.

　　Professor Zhang is a doctoral supervisor. Why do you care so much about a security guard? Zhang Juncheng was very strange, so he asked his wife Professor Dai Shumei when he had the chance. Professor Dai replied, "You are stupid, sir. Let yourself realize."

　　Later, Professor Dai told Zhang Juncheng: "Philosophy makes people smart. What the teacher told you is to open your mind. Life is long, and it is good for you to look at some problems dialectically."

　　The results of adult college entrance examination have been announced. Zhang Juncheng had a low starting point and his grades were a little poor, but his teammates who were inspired by him passed the exam that year. I don’t know whether the philosophical thinking of the unnamed lake has had an effect, or whether the score has exceeded his target line. He wrote in his diary: "It’s really not a taste in my heart, but I have a score in my heart. I believe that as long as I work hard, I will definitely have my place in junior college."

　　
It is too difficult to coordinate study and work. He has seen Peking University at every time.

　　People in Peking University, are you still worried about studying?

　　Zhang Jun has long understood clearly that the law department of Peking University has taken the self-taught examination and passed all 13 specialized courses, so you can get a junior college diploma.

　　Professor Zhang Xuecheng from the Department of Oriental Languages learned that he was going to take the self-taught examination in the law department of Peking University, so he helped him to contact the law teacher, and he was allowed to attend the classroom.

　　He went to take classes and stood at the door asking for instructions: "Hello, teacher, I’m Ximen security guard, and I want to take the law exam." The teacher said, "Come in and listen together." Sometimes, the teacher asked him specially, "If there is anything difficult to understand, I will answer it for you."

　　He knows that he can only repay the teachers’ expectations with his grades, and only by being loyal to his duties can he better serve the teachers and students of Peking University. However, it is really too difficult to coordinate study and work. Ximen has a large flow of people and heavy work tasks, so it is impossible to read books when standing guard. There is a phone call or registration every two or three minutes when you register, so it is impossible to concentrate on books. Even after work, you have to be diligent in the dormitory, and there are often tasks such as carrying and guarding activities to reinforce. Therefore, he can only pay several times more efforts than ordinary people, or squeeze time from the night, and he can only sleep for three or four hours a day on average. He said, habit becomes nature. As long as you persist, there is nothing you can’t overcome. Twenty-four hours a day, he has seen Peking University at every time.

　　For three years, Zhang Juncheng kept a thick professional book, holding a Xinhua dictionary, an English dictionary and a code, gnawing down a little bit of difficult and uncommon words, literal meaning and legal meaning, first understanding them by himself, and then explaining them to the teacher. At that time, he took the self-taught exam once a year in April and once in October, and he would pass every exam.

　　In 1998, Zhang Juncheng finally got the diploma of self-taught law major in Peking University. Driven by him, there were more than a dozen security guards studying for self-study or adult college entrance examination.

　　
Everything he took with him when he left Peking University was heavy.

　　In June, 1999, when the lotus in Longrun Garden opened, Zhang Juncheng bid farewell to Peking University. At that time, he was newly married for half a year, and his wife in Changzhi was just pregnant, hoping that he would return to his hometown.

　　Before leaving, Zhang Juncheng came to Zhang Yushu, Zhang Xuecheng and Professor Cao Yan’s home one by one. In the past five years, Zhang Juncheng didn’t know how to thank and repay these teachers. In his mind, teachers are like reborn parents. All he can do is to salute anyone who goes in or out of the west gate at once.

　　He firmly remembered the exhortations and encouragement of the professors.

　　Professor Zhang Yushu said, stick to the style of work in Peking University and work hard to create a career in the local area. Do what you like and what you can do.

　　Professor Dai Shumei told him that it is very important to take good care of his wife when he goes back, what to do, and positioning. He can’t fish for three days and dry the net for two days. The couple specially gave him a handicraft that symbolizes "having a baby early".

　　Professor Zhang Xuecheng said that in the future, he would need professional courses or other consultations from Peking University law teachers, and he would help arrange them. Professor Zhang’s wife presented him with a newly published set of Peking University Centennial Stamp Album. "Xiao Zhang, we can’t go to Changzhi, but I hope you will come to see us often, and I hope you will come to see us with your achievements. This stamp album is for you. When you are unhappy, look at it. You are everywhere on the stamp, and you have a deep memory. Think about how hard you worked here at that time. It can bring you strength … "This album has always been with Zhang Juncheng. As the teacher said, when you open it, you will see strength and hope, whether you are depressed or proud.

　　When he entered Peking University, he was a mountain village child who graduated from junior high school, carrying a small bag and carrying a dream.

　　When he left Peking University, he took the blessings of his teachers and teammates, the diploma of Peking University’s self-taught law college, and three sacks of books, all of which were heavy.

　　Zhang Jun Cheng said that without these, there would be no today of his own. They record his past and, more importantly, carry hope and future.

　　Zhang juncheng: preaching and teaching, solving doubts and not forgetting the spirit of Peking university

　　introduction

　　When Zhang Juncheng returned to Changzhi at the age of 24, he happened to be recruited by a vocational school, and he successfully entered the job. For more than 20 years, Zhang Juncheng has never left the podium for a day, from front-line teachers, to the director of the Political and Educational Affairs Department, to the vice principal, and then to jointly establish Changzhi Science and Technology Secondary Vocational School with four friends. He has taught thousands of students. It is worth mentioning that most of these students are rural children like Zhang Juncheng. Because of their poor families or poor grades, they finally found the direction of life by receiving vocational education.

　　Zhang Juncheng smiled and counted his students one by one, and his words were full of happiness and pride.

　　
Students in the past have become teachers today.

　　In the middle of the interview, Zhang Juncheng called two young teachers in the school, one is Liu Jianbo and the other is Li Feng. It turns out that these two young teachers are copies of Zhang Juncheng, former students of Zhang Juncheng, and are like his father and son. Students used to call President Zhang "Dad", but now the students of these two teachers call them "Dad".

　　Zhang Juncheng was very relieved that the students were handed over to them. The common language of their mentoring is that everyone is doing the same thing and doing a big project of teaching and educating people.

　　Liu Jianbo is a computer teacher in Changzhi Science and Technology Secondary Vocational School. She is 26 years old. When he was 16 years old, he met Zhang Juncheng, who was the vice principal when he was studying in Changzhi Technical Secondary School. At that time, Zhang Juncheng also replaced the class teacher. "At that time, President Zhang would wear a suit and tie to give us lessons every day, thinking that he was handsome and rigorous. After getting along for a long time, we all like him very much. We think he is very kind and call him’ Dad’ in private. " Liu Jianbo told the Shanxi Evening News reporter.

　　Liu Jianbo’s academic performance is good. He is the monitor and the president of the student union. I can’t tell when he started to "float". "At that time, I felt that I was awesome, and I felt a bit’ powerful’. My classmates’ attitude towards me has also changed, and they don’t listen to my monitor. Once there was a contradiction when dealing with class problems, President Zhang asked me to write a check every day, with no deadline and no requirements, and put it on his desk. " Liu Jianbo recalled that it was the biggest "gateway" in his life.

　　Zhang Juncheng suspended the post of monitor of Liu Jianbo. "At that time, my psychological gap was particularly large, all the auras were gone, and my classmates were no longer around me. The students in other classes don’t know about it, and the work of the student union is still going on, so as soon as I get out of the class, I feel confident again. " Liu Jianbo said.

　　I don’t know how long the inspection will take. From complaining at the beginning to self-reflection, Liu Jianbo finally understood the teacher’s good intentions, and his heart gradually calmed down, knowing what was wrong and how to correct it. On the 15th day, Zhang Juncheng made a speech: "All right, you write another copy of this inspection and post it at the back of the classroom." This matter has come to an end.

　　Since then, Liu Jianbo has been steady and steady, his academic performance has steadily increased, and every task in the class will be done well.

　　During the conversation, the reporter of Shanxi Evening News felt that Liu Jianbo was similar to Zhang Jun in many places, standing, sitting and wearing a watch. Zhang Jun Cheng said: "A teacher must have a strong sense of time. My watch is 10 minutes faster than others." Liu Jianbo said that his watch was also set five minutes fast, which was deeply influenced by Zhang Juncheng.

　　When I was in school that year, I had to run morning exercises and study by myself every day. Zhang Juncheng was never absent. To be precise, he appeared earlier than the students every day. "Star Dai Yue said is him, at 5: 40 in the morning, he went to the morning study hall with us, and didn’t rest until one or two in the morning. We all admire him very much and are full of energy. "

　　Li Feng was born in 1980s. He majored in law. More than ten years ago, he met Zhang Jun at Luzhou Law School in Changzhi City. "Now I remember what President Zhang said to us at that time,’ Strictness is love, and forgiveness is harm’. In 1999, I was 17 years old, and the second year of high school was the most difficult time for our class. A group of Xiong Haizi, who didn’t like studying, were naughty and couldn’t manage, and even left the former class teacher. Before leaving, the teacher said,’ It’s almost impossible to fill the ditch when you come to your class. Have you ever seen Taihang Mountain fill it?’ "Li Feng told Shanxi Evening News reporter, don’t blame the teacher, their class is really a headache.

　　Zhang Juncheng came to school on a 28-bike and watched everyone listlessly rehearse in chorus. "I take the class, or improper first, or improper last, don’t stand in the middle, not fit. You choose, first or last? " After Zhang Juncheng’s remarks, the class was silent. As a result, everyone Qi Xin worked together to rehearse carefully. In the end, although he didn’t win the first place, he achieved good results that his class had never had since he entered the school.

　　Li Feng used to be a "prickly head" in his class. He said that the students in technical secondary schools did not get satisfactory results in the senior high school entrance examination, and they had no extravagant hopes for going to college and were confused about the future. But Zhang Juncheng never sees it this way. He said that technical secondary school is not the end, but the starting point. He told the students to go to the university and know what the university is like, otherwise there will be shortcomings all their lives. After two years of "devil" training by Zhang Juncheng, Li Feng found the door of law and was admitted to a university in Dalian.

　　Zhang Juncheng’s schools are all boarding schools, and students often have no money to eat at the end of the month. Both Li Feng and Liu Jianbo had such a situation. "One day it was time for dinner, and I was the only one lying in the dormitory. When President Zhang saw it, he asked why he didn’t eat. Knowing that there was no money, he pulled me up and went to the restaurant. Each person ate a bowl of noodles, and in a few minutes, a bowl of noodles bigger than his face was swallowed. President Zhang also gave me a lot of noodles in his bowl. The noodles that day were really delicious and really delicious. " Li Feng smiled here. The students shouted one by one, getting along for a long time, and the relationship was very close. Anyone who had no money turned to Zhang Juncheng for help.

　　
Help students get out of trouble and find the direction of life

　　During the more than 20 years since he left Peking University, Zhang Juncheng visited Peking University almost every year, visiting teammates and gentlemen who had helped him. He will bring Shangdang Xiaomi and mature vinegar, which gentlemen will gladly accept. Knowing that he works as a teacher, Professor Zhang Yushu said that teachers should first guide children ideologically, and then impart knowledge. Don’t copy the book, combine theory and law with life practice. And told him that he must not mislead the children, and tell the students about the courses he taught without understanding them thoroughly. This is misleading the children. If you don’t care about your students and make friends with them, it’s also misleading. There is a conflict between students and their children’s public and private affairs, and students are given priority, which is worthy of being a teacher … Now Professor Zhang Yushu has passed away, and he is a gentleman.

　　By this year, Changzhi Science and Technology Secondary Vocational School has been established for five years, starting with one or two hundred students, and now there are more than 1,300 students, and the scale is basically saturated. There are more than a dozen majors in the school, among which aviation service, robotics, animation design and other majors have achieved joint education and customized education, and some majors are pursuing higher education. The vast majority of students studying here are rural children, laying the foundation for their further study in full-time undergraduate colleges and universities.

　　A girl with excellent grades suffered a sudden change in her family. Her mother had already passed away and her father was gone. Zhang Jun took more than a dozen teachers from the school to help with the burial, and each teacher took the initiative to help her out of his own pocket. "I will give her a red envelope during the Chinese New Year holiday. I hope she will study hard and reassure her family. We should use education with temperature to repay the society. " Zhang Jun Cheng said that this girl was admitted to college this year, and she came back to visit the teachers as soon as she had a holiday.

　　There are more than 100 poor students in the school, and it is common to reduce tuition fees or even reduce meals. Nothing can be an excuse for not studying. Without money to go to school, Zhang Jun paid for it himself; Poor academic performance, Zhang Juncheng accompanied him to study together; Family education is vacant, and Zhang Juncheng plays the role of father. The school provides children with job opportunities and grants to encourage them to master a skill.

　　Shi Wenping, executive deputy secretary of Changzhi Science and Technology Secondary Vocational School, said that the school is a militarized management mode. Almost all of these children are failed in the senior high school entrance examination, and it is also a critical period of puberty growth. It is not easy to bring them up. Learning them is the hope of the family and the future of the country.

　　A boy said to Zhang Jun Cheng, "Principal, I can do anything you want me to do, but don’t let me study." Hearing this, Zhang Juncheng is easy to handle. He took the boys to the front of the garbage dump and squatted down with him, saying that he would stay here for three hours first. The boy asked for another way, but Zhang Jun said yes. He asked to compete with the boys to pick up garbage, bottles, cartons, sundries, etc. with their bare hands, and each of them belonged to a pile to see who picked up more. After picking it up for a while, the boy said, "I’m going back to the classroom."

　　To be kind to students, Zhang Juncheng’s rule for every class teacher is that students must be known first, so as to better guide them and make correct education. He asked every teacher to know sixteen things about his students, including their names, living habits, personality characteristics, hobbies, paths to school, and parents’ thoughts … Loving life like a child is not just talk, and "dad" is not called in vain.

　　Because of Zhang Juncheng’s example, Li Feng and Liu Jianbo are both like this. Li Feng went to work for 7 years and only took a vacation. That was the night when the child had a high fever of 40℃. It’s useless to ask him for anything at home at ordinary times, so I can’t go back. His wife said, "You have 36 children, but I have only one child." At that time, Li Feng learned that the child had a high fever, lived in other places, and it took more than three hours to drive. Li Feng called Zhang Juncheng. Zhang Juncheng didn’t say anything at the moment. Later he called back and told him that he had arranged for a teacher with a car to drive him back. Unexpectedly, the car broke down again. Zhang Jun called all the teachers who had cars that night. Li Feng didn’t sleep all night when he received the child and sent him to the hospital and then went home to take medicine. The next day, before the child’s temperature dropped to normal, Li Feng returned to school. He said that there are lovers and mothers at home, and the 36 students in the school are only himself.

　　
The spirit of the teacher shines.

　　"When President Zhang first came to school, he was very special, unlike the locals. His body is straight, he is carrying a small bag, and his hair is smooth. Later, I learned that he came back from Peking University, and suddenly realized, I thought at the time, this is right. " Shi Wenping told the Shanxi Evening News reporter.

　　Zhang Juncheng laughed when he heard it, saying that he was from Changzhi, so how could he be different? He said: "I came back not only because my family is here, but also because I want to make my own contribution to the education in my hometown." Compared with the care and kindness of Peking University teacher to my little security guard, I am really too small. " When working as a security guard at Peking University, the principal and professor all gave a heavy kindness. "The teacher’s seemingly small actions have made my life. I am a living example, knowledge changes fate. Therefore, I must pass on the educational concept of Peking University to more people, so I choose to return to my hometown to engage in education. "

　　"I pay special attention to students who can’t read books. I can’t do it without reading. At least I can’t do it when I see it. I want to copy the selfless dedication of Peking University teachers to myself, which should also be what professors want to see. " Zhang Jun said.
(
Zhao Jinyan Zhang Wenju　
Jia weiran
)

Funding gap! Shanlin Finance illegally raised 73.6 billion yuan, involving more than 620,000 people nationwide.

　　CCTV News:On April 9, 2018, Zhou, the actual controller of Shanlin Shanghai Financial Information Service Co., Ltd., came to Pudong Branch of Shanghai Public Security Bureau to surrender to the public security organs. Zhou worked as a real estate project company in Tianjin before, but his business situation was not very good.

　　Criminal suspect ZhouAfter the real estate loan was completed, the money was used for investment, and the large amount of money for road construction could not keep up. Later, the P2P platform was opened to exaggerate the facts to do this.

　　After investigation, since October 2013, the criminal suspect Zhou has organized free travel through advertising and telemarketing without the approval of relevant departments, with the promise of high interest ranging from 5.4% to 15% as bait, selling so-called debt transfer wealth management products to unspecified people in the country.

　　Criminal suspect Zhou: offline stores absorb funds quickly, so they desperately open stores.

　　In a short time, the suspect Zhou set up 1,120 branches and offline stores in 29 provinces, municipalities and autonomous regions across the country, recruiting more than 30,000 employees. After investigation, many projects are false, and these stores are very attractive to investors after luxurious decoration. Since February 2015, the suspect Zhou has transferred some of his business to the online business, and has set up four online investment and wealth management platforms. Similarly, the sales of fictitious wealth management products with the promise of repaying the principal and paying high interest as bait raised 2 billion yuan in just two months.

　　Lin Zhi, Team Leader of No.1 Team and No.2 Team of Economic Investigation Corps of Shanghai Public Security Bureau: "His advertisements are very large, including on subway cars and buses. And even made it to the big screen of Times Square in new york, USA. At the same time, he also funded some charitable projects and sports events to show investors that he is strong. "

　　The target customers of Shanlin Financial offline stores are mainly middle-aged and elderly people, while the target customers of online platforms are mainly young white-collar workers. After investigation, at the peak of operation, Shanlin Finance absorbed 70 million yuan of new investment every day. Accumulated illegal absorption of public deposits of more than 73.6 billion yuan, however, the proportion of these funds actually used in projects is less than 5%.

　　Criminal suspect Zhou: The enterprise projects invested by the company have no hematopoietic function and cannot bring stable returns to investors. We can only maintain the operation by borrowing the new and returning the old, and the capital chain may break at any time.

　　According to the criminal suspect’s confession, Shanlin Financial needs at least 500 million yuan per month to maintain the company’s operation, which is mainly used for operating costs such as repaying principal and interest to previous investors, employee commissions, renting luxury office space, paying advertising fees, and personal extravagance. At the time of the incident, Shanlin Finance had a huge funding gap, which made it impossible to pay the investor’s principal totaling more than 21.7 billion yuan, involving more than 620,000 people across the country. At present, the case is being further processed.

The financial report of listed supermarkets is not optimistic, and the ＂store closing tide＂ is still spreading. How can brands save themselves？

　　Recently, the latest financial report released by RT Mart’s parent company Gaoxin Retail Co., Ltd. (06808.HK, Gaoxin Retail) shows that as of the first quarter of 2024, the company achieved revenue of 72.567 billion yuan in the latest fiscal year, down 13.3% year-on-year; During the year, the loss was 1.668 billion yuan, compared with the profit of 78 million yuan in the same period of last year. The loss was mainly caused by the impairment of the right to use assets, fixed assets and goodwill of negative cash flow stores, closed stores and stores to be closed.

　　It is understood that the main revenue sources of Gaoxin Retail are sales of goods, membership fees and rental income, among which the revenue from selling products through offline stores and online channels accounts for more than 95% of the total revenue. With the advent of the post-epidemic era, the supply guarantee business has contracted rapidly; On the other hand, consumption habits and market demand are constantly changing, consumers are gradually returning to rationality, and "hoarding goods" has become a thing of the past. "Although the offline passenger flow has picked up slightly, the decline in average passenger orders has led to a decline in the high number of offline revenues." The company said frankly in the financial report. With the shrinkage of stores, the number of members and tenants continues to decrease, and the income further declines.

　　Judging from the recent annual report and quarterly report published by various supermarket enterprises, the above problems are not the sufferings of Gaoxin Retail.

　　Declining performance and frequent store closures.

　　In 2023, 9 of the 13 supermarket listed companies experienced a decline in revenue, and more than half of them suffered losses, of which () they have suffered losses for three consecutive years, and Lianhua Supermarket’s net profit returned to its mother dropped sharply, with a drop of 273.71%. In the first quarter of 2024, the number of enterprises with declining revenue increased, while the net profit of () and China Shunkelong decreased by 619.18% and 125% respectively, making the life of traditional supermarkets more and more difficult.

　　In the current consumption environment, it is an indisputable fact that the traditional supermarket model no longer has obvious competitive advantages. In 2023, despite the gradual recovery of the national consumption environment, the overall performance of the FMCG market was poor, with the total omni-channel retail sales down by 0.5% compared with the previous year, and the retail sales in the offline market down by 3.6% compared with the previous year. It is worth noting that in 2023, the retail sales of department stores, convenience stores, specialty store and brand specialty stores in retail units above designated size increased by 8.8%, 7.5%, 4.9% and 4.5% respectively over the previous year, and only the retail sales of supermarkets decreased by 0.4% over the previous year. From 2020 to 2022, the total revenue of listed companies in Toushang Supermarket continued to decline.

　　Affected by the weak recovery of terminal consumption, the supermarket "closing tide" is still spreading. Take CR Vanguard as an example. Since its inception in 2024, the brand has closed more than 10 stores nationwide, including its high-end brand "Wanjia City" and boutique brand "Blt". From 2020 to 2022, CR Vanguard, as the industry’s leading brand, has closed more than 100 stores in succession, and this 40th anniversary enterprise has once again reached a crossroads.

　　Traditional supermarket brands such as Wal-Mart, Carrefour, RT Mart, Lianhua and Wumart have not been spared. According to incomplete business statistics, in the first quarter of 2024, about 1,200 supermarkets in China announced the closure of their stores, and the above brands were among them.

　　According to the research report of China Chain Store & Franchise Association, the traditional supermarket enterprises are facing three core challenges: the continuous loss of customers who arrive at the store, the gradual lack of commodity difference competition and the increasing operating cost of the store. Among them, the most significant change is that the characteristics of customer differentiation are becoming more and more prominent, and the younger generation of consumers have higher awareness and recognition of new brands such as Boxma Xiansheng; At the same time, the differentiation of products and channels in traditional supermarkets has narrowed significantly. "Promotion", "discount" and "membership price", including last year’s lively "moving mountains" and "tug-of-war", are essentially "price wars" for homogenized products. However, in the face of the strong industrial chain advantages of membership-based warehouse supermarket giants such as Sam and Kaikouke, the operating costs of traditional supermarkets are getting higher and higher, and their price advantages are not outstanding.

　　Under siege, traditional supermarkets are also actively looking for new ideas to solve problems.

　　Idea 1: Adjustment and optimization

　　At the beginning of May, the news about Henan Pangdonglai Trading Group’s "rescue" of Yonghui Supermarket Co., Ltd. (601933.SH, Yonghui Supermarket) triggered a heated public debate. As the "hand of God" of Shangchao and the helm of Fat East, can Yu Donglai really help Yonghui, which has been troubled by the decline in performance for a long time? The answer will be announced in June.

　　According to relevant media reports, Fat Donglai’s assistance in this transformation involves Yonghui Supermarket Zhengzhou Hanhai Beijindian Store and Xinxiang Baolong Plaza Store. The transformation of the two stores will be started at the beginning of June and the end of June respectively. After the transformation, Yonghui’s existing supply chain system will be the main store, and Fat Donglai will make a structural supplement, and the cooked food series and baking series that Fat Donglai sells well will be introduced with full reference to the commodity structure of Fat Donglai.

　　Before Fat Donglai intervened in the adjustment and reform, Yonghui Supermarket had started the road of adjustment and optimization. For example, add baking, pastry, cooked food and other processing and catering areas in some stores to expand diversified consumption scenarios; In some stores, large packages of snack food and large-capacity laundry detergent are introduced to meet the shopping needs of family consumers. At the beginning of this year, Yonghui Supermarket opened the first "customized store" in China-Yunnan flagship store, focusing on the multi-level commodity structure of "global+national+local", and introduced local specialties such as Yunnan ham, dried beef and gastrodia elata for the first time.

　　In fact, compared with Yonghui supermarkets all over the country, Fat Donglai, who lives in a corner, can’t be compared with it in terms of performance, scale and influence. According to the list of "TOP100 Chain Stores in China in 2022" issued by China Chain Store & Franchise Association, Yonghui Supermarket ranks second in the chain supermarket industry, second only to Wal-Mart, and is "far ahead" of other domestic brands, and the company’s performance in its glorious period is close to 100 billion. However, since 2021, the company has suffered losses for three consecutive years, with a cumulative amount of 8 billion yuan. Although the company’s losses were further narrowed in 2023, the company’s revenue still dropped significantly in the first quarter of this year.

　　At the same time, Fat Donglai has gradually gained advantages in store planning and management, employee welfare and customer service, and in recent years, it has become stronger and stronger in terms of quality-price ratio and influence. What is even more rare is that Fat Donglai is willing to share his successful experience with his peers in trouble. It is reported that since 2023, Fat Donglai has extended a helping hand to more than 10 retail enterprises with operational difficulties.

　　Among them, BBK Commercial Chain Co., Ltd. (002251.SZ, ()) is also facing the decline of performance year after year and losses for three consecutive years. Unlike Yonghui Supermarket, which is in the first echelon of the industry, BBK has reached the edge of life and death. In 2023, BBK closed 113 stores with no hope of turning losses; On October 26th of the same year, the Intermediate People’s Court of Xiangtan City, Hunan Province ruled that BBK went bankrupt and reorganized due to its inability to pay off the debts due and its obvious lack of solvency. On October 31st, BBK shares were warned of delisting risk since the resumption of trading, and its share price continued to fall.

　　At this time, Fat Donglai appeared, and several poorly managed stores under BBK were optimized and upgraded in all directions from the aspects of layout, shopping environment, commodity structure, quality and price, and personnel service. BBK made it clear in the annual report that in 2024, with the help of Fat Donglai, the company will reshape corporate culture, management system, store operation and supply chain, and strive to create a sincere, beautiful and loving corporate culture and high-quality stores, and rebuild supermarkets and department stores with reference to the standard of "Fat Donglai is local, and local Fat Donglai is local".

　　Source: BBK Supermarket WeChat WeChat official account

　　Is the adjustment really effective? Recently, BBK released a set of data: after more than 20 days of adjustment and reform, BBK Meixihu Supermarket has reached a peak of 1.4 million yuan from the original daily sales of 150,000 yuan and an average daily passenger flow of 2,000 people, and the store passenger flow has exceeded 15,000 people; After the adjustment, Jiuhua Store of BBK Supermarket sold 1.64 million yuan on the first day of opening. This adjustment and reform eliminated 70% of low-quality and low-price goods from the shelves. After the adjustment and supplement are in place, its product structure will reach 90% of that of Pangdonglai. At the same time, BBK Supermarket also announced that all stores in Hunan stopped all marketing activities and lowered the retail price of more than 3,000 commodities again. Judging from the news released by BBK official micro recently, it seems that "practicing the concept of coming from the fat east" has become the belief of the company, and the performance of turning losses into profits in the first quarter has also made the company see hope.

　　Source: BBK Supermarket WeChat WeChat official account

　　In addition to consulting the industry’s "military division", other supermarkets are also accelerating the adjustment and optimization of stores. At the end of 2023, in order to welcome the 40th anniversary of the company’s establishment, CR Vanguard launched eight cities and nine stores, which will be renewed and upgraded. CR Vanguard said that the company is implementing the upgrading measures of some stores in a planned way. In the next one to two years, the stores will continue to upgrade, and the integrated urban agglomeration of Beijing-Tianjin-Hebei, Greater Bay Area, Yangtze River Delta and Pearl River Delta will be clearly included in the follow-up development focus. The core of this upgrading plan is omni-channel layout and integrated operation, focusing on the value of single customers, focusing on accurate marketing of members and enhancing the consumer experience.

　　Idea 2: Transformation and upgrading

　　Yonghui Supermarket and BBK gradually reversed the trend in the process of adjustment and optimization. The loss of the former narrowed, while the latter turned losses into profits, and the "self-help" measures were effective in stages. On the basis of adjustment and optimization, can we take greater steps? Many brands tend to transform and upgrade on a large scale. CR Vanguard set its sights on the purchasing power of high-net-worth customers, and upgraded some stores that did not meet the new strategic positioning to "Olé" and "BLT" high-end supermarkets, and at the same time broadened the service radius of stores to meet the upgrading needs of consumers in business circles. In fact, CR Vanguard has been deeply involved in the field of boutique supermarkets for many years. This year marks the 20th anniversary of the establishment of the "Olé" brand, and the number of stores in China has exceeded 120. Olé’ s own brand has been extended to fruits and vegetables, aquatic products, meat, eggs and milk, baby care and household items, and nearly 500 products have been launched. However, as a sub-brand, "Blt" is losing momentum because its brand positioning and product structure are not "differentiated" from "Olé".

　　Compared with the layout in advance in CR Vanguard, more brands choose overweight boutique supermarkets in order to adapt to the changes in market structure, business model and consumption habits. In May 2023, the ——Green&Health Jade Bird Store, the first "big community+small warehouse" model store of Hangzhou Lianhua Chinese businessmen, opened; In November of the same year, the innovative format of Lianhua Supermarket-Century Lianhua CityLife high-end boutique supermarket Shanghai Gubei Store opened. Prior to this, Box Horse’s first high-end supermarket, Premier Black Label Store, also chose to open in Shanghai. Compared with warehouse-based member stores with relatively remote locations, most boutique supermarkets in the core business district are more likely to attract customers to the stores for consumption.

　　But does large traffic mean high customer orders? But not really. According to the real feelings of Yinshi Finance’s recent visit to boutique supermarkets, most boutique supermarkets have the actual situation of "more people loitering than buying" and "higher product unit price but lower transaction amount". Different consumer groups have obvious differences in their cognition of boutique supermarkets, and boutique supermarkets are not the first choice for most consumers. What determines the "admission" and "farewell" of boutique supermarkets? )

　　In order to improve the guest list and efficiency, in addition to boutique supermarkets, in the eyes of traditional supermarket brands, warehouse membership stores are also a new way. Heading for member stores is a new way for Gaoxin Retail to find for itself. In the recent fiscal year, Gaoxin Retail has opened 6 RT Mart (hypermarkets), 14 RT Mart Super (medium-sized supermarkets) and 3 M-member stores, with a total of 472 hypermarkets and 32 medium-sized supermarkets. In April 2023, the first M-member store opened in Yangzhou, Jiangsu Province. During the reporting period, the number of paid members has exceeded 60,000, and the total number of members has exceeded 110,000. As of March 31, 2024, the cumulative number of paid members in China was about 140,000, and the total number of members was nearly 240,000. The company has started the project of 4 M member stores, and plans to open 15 member stores within three years. However, as far as the scale and structure of the company’s existing stores are concerned, member stores still cannot become the main revenue force in the short term.

　　According to the data released by Ai Media Consulting, from 2012 to 2022, the scale of China warehousing membership supermarket industry has always remained above 20 billion yuan. In 2023, the scale of the industry reached 36.41 billion yuan, and it is expected to approach 40 billion yuan in 2024, which has great development space. In the field of warehouse-style member stores, Sam, Box Horse and Metro have accumulated a number of loyal users, and the head effect is gradually emerging. Other brands need to have more prominent supply chain advantages or form distinctive brand characteristics to get a share, and the competition will be further intensified. Take Nanjing as an example. At present, there are seven warehouse membership supermarkets such as Metro, Sam Member Store, Box Horse X Member Store and M Member Store, and Costco will be opened at the end of May. In the future, there will be more and more high-energy cities with multiple brand warehouse membership supermarkets like Nanjing.

　　The competition between the two new tracks is so fierce, is there any other way to solve the problem? Then try them all. In 2023, () chose to "bet" on new formats. The company successively launched new brands such as Yueji Snack Shop and Haohuixing Discount Store, and focused on promoting franchise business. In the first quarter of 2024, Jiajiayue opened 12 directly operated stores and added 8 franchised stores. Among them, snack shops, discount stores, convenience stores and other formats realized revenue of 53.5442 million yuan, up 46.66% year-on-year, and the growth momentum was obviously better than that of general supermarkets, rural supermarkets and other formats. At the same time, Jiajiayue chose to avoid the high-speed cities where high-quality supermarkets and warehouse member stores gather, and focused on developing markets in Shandong and its surrounding Inner Mongolia, Beijing, Hebei, northern Anhui and northern Jiangsu. Through the network layout of dense areas, urban and rural integration and multi-formats, it created a "quarter-hour" convenient life circle in sinking communities and township markets, and at the same time, it relied on stores to carry out online services such as home service and pick-up at stores, and also took over the business of "community group buying"

Investigation on the confrontation between officials in Pingxiang, Jiangxi Province： pretending to be stupid in the early stage, pretending to be sick in the later stage, and pretending to be crazy at

Recently, a criminal judgment published by China Judgment Document Network revealed the case of Zhang Xuemin, former member of the Standing Committee of Pingxiang Municipal Committee of Jiangxi Province and secretary-general of the Municipal Party Committee, taking bribes.

In 2008, Zhang Xuemin, then vice mayor of Pingxiang City, interceded for a developer who failed to apply for a pre-sale permit for commercial housing and illegally collected a customer deposit, and received a total of 150,000 yuan in bribes from the developer.

This is just the tip of the iceberg in Zhang Xuemin’s huge bribery case.

In May 2015, the Compilation of Typical Cases of party member Cadres’ Violation of Discipline and Law since 2011 compiled by Pingxiang Municipal Commission for Discipline Inspection and Supervision (hereinafter referred to as "Compilation") showed that Zhang Xuemin and Yan Dewen, the former chairman of Pingxiang CPPCC, received a maximum of tens of millions of yuan in bribes, setting a record for economic duty crimes in Pingxiang, which is also rare in Jiangxi Province, and can be described as "a snake swallowing like a snake".

On February 28, 2014, the Jiangxi Provincial Commission for Discipline Inspection announced the news that two department-level cadres in Pingxiang City, Jiangxi Province were dismissed at the same time.Yan Dewen, then chairman of Pingxiang CPPCC.andZhang Xuemin, then member of the Standing Committee of Pingxiang Municipal Committee and Secretary General of Municipal Committee.Be investigated together.

Before that,Chen Anzhong, former deputy director of the Standing Committee of Jiangxi Provincial People’s Congress, chairman of the Provincial Federation of Trade Unions, and Sun Jiaqun, former member of the Standing Committee of Pingxiang Municipal Committee and executive deputy mayor.They have all been investigated. Chen Anzhong once served as secretary of Pingxiang Municipal Party Committee.

After the fall of Yan Dewen and Zhang Xuemin,He Weilin, former chairman of Pingxiang CPPCC, and Chen Weimin, former secretary of Pingxiang Municipal Committee.It also "collapsed" in the "earthquake" of Pingxiang officialdom. For a time, Pingxiang became the "hardest hit" of corruption in Jiangxi.

Zhang Xuemin, former member of the Standing Committee of Pingxiang Municipal Committee and Secretary-General of the Municipal Committee.

Many people have been sentenced for corruption in Pingxiang.

A few days ago, The Paper (www.thepaper.cn) reporter learned from the judicial department of Ganzhou City that both cases of Yan Dewen and Zhang Xuemin had been decided in the first instance, but because both of them appealed, the relevant person in charge of the judicial department did not disclose the sentence period and related cases of Yan Dewen and Zhang Xuemin in the first instance.

He Weilin was sentenced to five and a half years’ imprisonment by Jiujiang Intermediate People’s Court for accepting bribes and abusing his power. However, after the verdict was pronounced in the first instance, He Weilin refused to accept the appeal.

The verdict held by The Paper reporter shows that the object of bribing Zhang Xuemin is Li Longhui, the chairman of Pingxiang Longfei Real Estate Development Co., Ltd. On September 10th, 2015, the People’s Court of fengcheng city, Jiangxi Province sentenced Li Longhui to one year and four months’ imprisonment for bribing Zhang Xuemin and Rao Benchun, then director of Pingxiang Housing Management Bureau, totaling 270,000 yuan.

Three months after Li Longhui’s case was pronounced in the first instance, in the case of He Weilin, the former chairman of Pingxiang Municipal Political Consultative Conference, which was heard on December 9, 2015, there was another accusation that He Weilin accepted Li Longhui’s bribery.

According to the indictment, Li Longhui, the owner of Pingxiang Longfei Real Estate Development Co., Ltd., gave He Weilin 20,000 yuan in 2011 when he moved. During the Spring Festival, Dragon Boat Festival and Mid-Autumn Festival from 2006 to 2012, he Weilin was given a total of 122,000 yuan 21 times.

At the request of Li Longhui, He Weilin took advantage of his position as the chairman of Pingxiang CPPCC to greet the relevant personnel in 2005, and helped Li Longhui get the tax preferential treatment of Meilun Hua Ting project of more than 580,000 yuan from the Goose Lake Management Office. In 2008, he greeted the relevant personnel and helped Li Longhui get back the deposit of 4 million yuan from the Anyuan Forest Park Management Committee. In 2011, he greeted the relevant personnel and asked them to take care of the Xiubo Garden project developed by Li Longhui.

Around March 2014, He Weilin returned Li Longhui 150,000 yuan for fear of organizing an investigation.

The Paper reporter learned from many channels that in the first trial of He Weilin’s case, the amount of bribes that He Weilin accepted from Li Longhui was determined by the court.

An insider close to He Weilin’s case told the The Paper reporter that in the previous judicial trial of Li Longhui, the judgment did not mention the accusation of bribing He Weilin, but in the first trial of He Weilin’s case, the court found that he accepted Li Longhui’s bribe. This "legal back door" phenomenon is puzzling, and it also shows that the judicial departments concerned have too much discretion and violate the fairness of the law.

Developers regularly send red envelopes three times a year.

The above judgment shows that since July 2007, the Longfei Jinxiu Jiayuan real estate project developed by Pingxiang Longfei Real Estate Development Co., Ltd. (hereinafter referred to as "Longfei Company") has hired an agency to engage in sales, and the customer’s deposit has been illegally charged more than 200,000 yuan without pre-sale permit.

In March 2008, Pingxiang City Real Estate Management Supervision Brigade discovered this situation, and it was necessary to punish Longfei Company according to law. According to the Regulations on the Management of Urban Real Estate Development and Operation, it was necessary to confiscate the house purchase deposit charged by illegal sales and impose a fine of 1% of the sales amount.

In order to seek illegitimate interests, so that the company’s violations can be mitigated, Li Longhui, the legal representative and chairman of Longfei Company, found Zhang Xuemin, then the vice mayor in charge of housing management and urban construction, to intercede. Zhang Xuemin should ask for help to call Rao Benchun, then director of Pingxiang Housing Management Bureau, to intercede for Longfei Company. Later, Li Longhui also found Rao Benchun. The matter was finally punished in violation of regulations, and the illegal income was confiscated for 10,000 yuan.

Li Longhui is engaged in real estate development, and Zhang Xuemin is in charge of housing management and urban construction.In order to thank Zhang Xuemin for interceding for the company and asking him for something in the future, from 2006 to 2013, Li Longhui would send red envelopes to Zhang Xuemin’s office every Spring Festival, Mid-Autumn Festival and Dragon Boat Festival. The red envelope sent every Spring Festival is 10,000 yuan, and the red envelope sent every Mid-Autumn Festival and Dragon Boat Festival is 5,000 yuan.Zhang Xuemin received a total of 150,000 yuan in bribes from Li Longhui. In addition, from 2008 to 2012, Li Longhui paid a bribe of 120,000 yuan to Rao Benchun (handled separately).

About two months after Zhang Xuemin’s fall, that is, on April 23rd, 2014, Rao Benchun, who was bribed by Li Longhui with Zhang Xuemin, was also arrested and investigated. When the horse fell, Rao Benchun had been transferred to the post of Party Secretary and Director of Pingxiang Archives Bureau.

After Zhang Xuemin and Rao Benchun were dismissed, Li Longhui, then a member of the Standing Committee of Pingxiang Municipal Political Consultative Conference, who paid bribes to them, was also taken away for investigation by the relevant case-handling departments.

The above judgment also shows that Li Longhui, male, was born in Anyuan District, Pingxiang City, Jiangxi Province in April 1951, with a primary school education. He was a former member and standing committee member of Pingxiang CPPCC. On May 16th, 2014, Li Longhui was placed under residential surveillance at the designated residence of the People’s Procuratorate of fengcheng city on suspicion of bribery. On May 26th of the same year, he was detained by the People’s Procuratorate of fengcheng city, and was arrested on June 6th of the same year. On September 10th, 2015, the People’s Court of fengcheng city, Jiangxi Province sentenced Li Longhui to one year and four months’ imprisonment for committing bribery in the company.

In August 2015, the People’s Court of Anyuan District, Pingxiang City ruled in the first instance that Rao Benchun was sentenced to 11 years and 6 months in prison for committing bribery and corruption.

After Rao Benchun’s verdict was pronounced in the first instance, the China discipline inspection and supervision newspaper once reported on Rao Benchun’s violation of discipline with the title "No bottom line for undisciplined behavior", sayingRao Benchun even had to reimburse the lost gambling money, promoted the driver to a deputy-level cadre in violation of regulations, and helped his mistress to operate as the secretary-general of the listed real estate association.

Information Daily reported on June 29, 2016 that recently, Pingxiang Intermediate People’s Court made a second-instance judgment on Rao Benchun (male, 54 years old, former director of Pingxiang Archives Bureau, party secretary, director of Pingxiang Real Estate Management Bureau when he was suspected of committing a crime) accepting bribes: Rao Benchun was convicted of accepting bribes, sentenced to 5 years in prison and fined RMB250,000. The court found that from February 2007 to November 2013, Rao Benchun took advantage of his position as the director of Pingxiang Housing Management Bureau to provide assistance for real estate enterprise project development, violation punishment, promotion of subordinate cadres and job transfer of employees, and illegally accepted property totaling 836,351 yuan.

Zhang Xuemin played the fool in the early stage and asked nothing; Then pretend to be sick and scare the case handlers with a "heart disease" that doesn’t exist at all; Finally, pretend to be crazy and interfere with the case handlers by kneeling, kowtowing and urinating in public. Vision china information

Use the deeds of martyrs to "encourage" other officials to make offensive and defensive alliances.

In January this year, Xinhua News Agency published "Sample Analysis of Pingxiang Corruption" in Jiangxi Province ",which reported that,The circles of leading corrupt officials are independent of each other and compromise with each other because of overlapping plates and interest disputes, forming a joint case.

For example, there is a "mentoring relationship" between Yan Dewen and Sun Jiaqun, Sun’s promotion has been taken care of by Yan, and Zhang Xuemin and Yan Dewen have a classmate relationship. These intertwined and complicated interpersonal relationships provide convenient conditions for them to commit crimes together.

This special relationship is also valued by Zhang Xuemin. Before the fall of the horse, he also used the unyielding heroic deeds of a revolutionary martyr after his arrest to "encourage" Yan Dewen to reach an offensive and defensive alliance with himself and confront the investigation.

"After Sun Jiaqun and Chen Anzhong were organized to investigate one after another, Zhang Xuemin and Yan Dewen had a premonition that they would be exposed to the incident and formed an offensive and defensive alliance many times."

The Compilation also states that Zhang Xuemin has repeatedly found co-conspirators for collusion.

Yan Dewen mentioned in his confession: "On February 22, 2014, Pingxiang Municipal Committee organized mass line education and practice activities in the guesthouse to concentrate on learning. Zhang Xuemin told me that there was an article in Gong Quanzhen’s diary (the wife of Gan Zuchang, the founding general). He read it nine times and asked me to read it."

According to Zhang’s prompt, Yan Dewen found that Gong Quanzhen’s diary was about the unyielding heroic deeds of a revolutionary martyr after his arrest. Zhang Xuemin wanted to use this story to "encourage" Yan Dewen to reach an offensive and defensive alliance with himself. On February 25th, Zhang Xuemin found Yan Dewen again, saying that he would never say anything, and that he should be strong and never say anything if he was killed.

According to the description in the Compendium,After being investigated, Zhang Xuemin did his best to perform, playing dumb in the early stage and asking nothing; Then pretend to be sick and scare the case handlers with a "heart disease" that doesn’t exist at all; Finally, he pretended to be crazy, and interfered with the case handlers in extremely boring ways, such as kneeling, kowtowing and urinating in public, in an attempt to divert attention, completely losing the proper image of a departmental leading cadre.

In addition, the Repertory also mentioned that,In addition to He Weilin, Zhang Xuemin and other five people lead corrupt lives and commit adultery with others. In the Spring Festival, Dragon Boat Festival, Mid-Autumn Festival and other festivals every year, Zhang Xuemin collects 600,000 yuan and 700,000 yuan from units and individuals respectively. Zhang Xuemin’s son started a financial consulting company. Every year, he symbolically went to some private enterprises in Pingxiang to look through the books and got a consulting fee of 150,000 yuan.

Zhang Xuemin also gave tens of millions of bribes to his mistress, Zhang’s younger brother and elder brother for safekeeping, and the agent was not only responsible for safekeeping, but also invested in "whitewashing".

In the Jinxiu Mountain Villa project in Pingxiang City, Zhang Xuemin and Yan Dewen instructed their agents to sign a Cooperative Development Agreement with the developer of the project in August 2005 in order to cover up the fact that they each demanded a bribe of tens of millions of yuan, and the amount they demanded was determined in the form of IOUs and agreements in the name of loan return for project construction, which not only ensured their illegal income, but also carried out "legal" packaging.

Afterwards, Zhang Xuemin also said: "With this agreement, my heart will be practical."

The entrances and exits of 93 expressway toll stations in Jiangsu Province were temporarily closed in one or two directions.

　　Cctv newsThe Jiangsu Provincial Department of Transportation announced today (12th) that the expressway operation in Jiangsu Province is generally stable. As of 9: 00 on August 12, the entrances and exits of 93 expressway toll stations in Nanjing, Wuxi, Xuzhou, Changzhou, Suzhou, Nantong, Lianyungang, Huai’ an, Yangzhou, Zhenjiang and Taizhou were temporarily closed in one or two directions.

　　The specific closure situation is as follows:

　　Nanjing (12): G25 Changshen Expressway Xinji Entrance and Lishui North Entrance, G40 Hushan Expressway Crossbeam North Entrance, G2503 Nanjing Ring Expressway Niigata, Ma ‘an, Crossbeam Entrance and Tianhou Village Entrance, G4221 Shanghai-Wuhan Expressway Dongping, Lukou South and Jiangjun Avenue Entrance, S55 Ningxuan Expressway Lishui Development Zone Entrance, S68 Liwu Expressway Entrance.

　　Wuxi (5): G25 Changshen Expressway Dingshan Entrance, G4221 Huwu Expressway Xiake Entrance, S39 Jiangyi Expressway Heqiao Exit, S19 Tongxi Expressway Donggang and Anzhen Toll Station Exit;

　　Xuzhou (7): G3 Jingtai Expressway Liuxin and Xuzhou West Exit, G30 Lianhuo Expressway Xinyi West Exit and Pizhou West Exit, G2513 Huaixu Expressway Suining West Exit, S49 Xinyang Expressway Malingshan Exit and S69 Jixu Expressway Shunhe Exit;

　　Changzhou (7): G25 Changshen Expressway Caoshan Exit, G4221 Huwu Expressway Gehu Entrance and Maoshan Exit, S35 Fuli Expressway Shanghuang Toll Station Exit, S39 Jiangyi Expressway Wujin Economic Development Zone and Chunjiang Exit, and S68 Liwu Expressway Tangqiao Exit;

　　Suzhou (1): entrance of Taicang New District of G15 Shenhai Expressway;

　　Nantong (1): the southeast entrance of G40 Shanghai-Shaanxi Expressway;

　　Lianyungang (10): G15 Shenhai Expressway Haitou, Luo Yang, Lianyungang North, Xinba and Guanyun North exits, G25 Changshen Expressway Ganyu South, Dapu, Songtiao, Guanyun West and Guannan South exits;

　　Huai ‘an (9): G2 Beijing-Shanghai Expressway Huai ‘an North Exit, G25 Changshen Expressway Gaogou, Tieshan Temple Exit and Wulipai Exit, G1516 Yanluo Expressway Lingqiao and Shitang Exit, S49 Xinyang Expressway Huanghuatang and Xuyi North Exit, S22 Yanbang Expressway Dongyang Exit;

　　Yangzhou (23): G2 Beijing-Shanghai Expressway Gaoyou, Zhenwu Entrance, G40 Shanghai-Shaanxi Expressway Jiangwang, Tangwang, Yangzhou Guangling, Hangji South, Daqiao Entrance, Jiangdu South Exit, Yizheng, Zaolinwan Entrance, G4011 Yangli Expressway Guazhou Entrance, S28 Qiyang Expressway Yangzhou North, Slender West Lake, Yangzhou West Entrance, Jiangdu North, Dinghuo, Yangzhou Taizhou Airport, Yangzhou.

　　Zhenjiang (8): Jurong and Heyang exits of G42 Hurong Expressway, Jiangxi and Shangdang exits of G4011 Yangli Expressway Town, Tianwang exit of G4221 Huwu Expressway, Danyang North exit of S35 Fuli Expressway and East exit of Zhenjiang New District, and Gao Qiao exit of S39 Jiangyi Expressway;

　　Taizhou (10): entrance and exit of Taizhou Toll Station of G2 Beijing-Shanghai Expressway, exit of Guangling and Jishi of G40 Shanghai-Shaanxi Expressway, exit of Qintong, Anfeng and Xinjie of G1515 Yanjing Expressway, exit of Zhouzhuang, Hailing, Yuduo and Dasi of S35 Fuli Expressway in Xinghua.

　　As of 9: 00 on August 12, 25 provincial highways in Jiangsu Province were temporarily closed in one or two directions, as follows:

　　Nanjing 10:

　　1. The intersection K405+621 of Ning Gaoxin Passage Section of Jiangning G235 Xinhai Line is closed in both directions.

　　2. The intersection of Jiangning S002 and S204 Ninggao Line K52+800 is closed in both directions towards the lake maturity direction.

　　3. The intersection of Jiangning S002 and Jiangjun Avenue is closed in both directions towards Lukou.

　　4. The junction of K41+097 Anhui on Jiangning S126 Ningdan Line is closed in both directions.

　　5. At the junction of S204 and S002 in Jiangning, it is closed in both directions towards Lukou.

　　6. The K15+200 Osborn section of Jiangning S204 Ninggao Line is closed in both directions (there is an exit in the upward direction).

　　7. Jiangning S243 K82+600-86+100 is closed in both directions.

　　8. The intersection of Jiangning S340 and Jiangjun Avenue is closed in the direction of Lukou.

　　9. The ramp of Lishui S243 K76+850 Lishui Development Zone is closed in the direction of Xinhuai Avenue.

　　10. Lishui S243 K79+200 double-yearned for the closing of the ramp crossing in the direction of S204.

　　Yangzhou 8:

　　1, G328 K302 Jiangdu entrance,

　　2, S243 K2+950 Guazhou ferry,

　　3, S462 K9+600 south along the Yangtze River,

　　4, S61K7+600 and Hanjiang junction,

　　5, S125 K43+900 and Yizheng junction,

　　6, S356 K272+200 Jiangdu Hanjiang junction,

　　7, S331 K100+270 (Yancheng Settings, Yancheng and Yangzhou border),

　　8. S356 K272+600 Touqiao Town East Jiajiang Bridge West.

　　Taizhou 5:

　　1, G344 highway K135+400 xinghua city Qianduo Town and Yangzhou Gaoyou City junction,

　　2, G523 highway K20+031 Gaogang ferry (border with Zhenjiang),

　　3, S351 highway K116 xinghua city development zone and Yangzhou Gaoyou junction,

　　4, S352 highway K101+100 xinghua city Chenbao Town and Yangzhou Jiangdu District junction,

　　5. The downward direction of G328 Highway K274+550 is the boundary of Yangzhou, Kowloon.

　　Huaian 2:

　　1, S348 K196+500 to Hongze city direction,

　　2. S350 at the intersection of S350 and S247 is heading for Hongze.

How to modify the quota of China Merchants Bank？ What are the precautions for this modification？

In financial transactions, the quota setting of China Merchants Bank sometimes needs to be modified for futures investors to meet their own fund management needs. The following is a detailed introduction to how to modify the limit of China Merchants Bank and related matters needing attention.

First of all, the common ways to modify the limit of China Merchants Bank include the following:

1. Online banking modification: log in to China Merchants Bank’s online banking, and find the limit adjustment option in the relevant settings page. Usually, you need to authenticate according to the system prompt, and select the limit type you want to modify, such as transfer limit, payment limit, etc.

2. Mobile banking modification: Open the mobile phone application of China Merchants Bank, enter the related modules such as setup or security center, and find the limit management function to operate.

3. Counter handling: Bring valid identity documents to the business outlets of China Merchants Bank, apply to the counter staff for modifying the limit, and fill in relevant forms and provide necessary information as required.

There are several important considerations when modifying the quota of China Merchants Bank:

Security:

1. Protect personal information: Whether it is handled through online banking, mobile banking or counters, we must ensure the safety of personal information and prevent it from being stolen or fraudulently used by others.

2. Pay attention to the network environment: When using online banking or mobile banking to modify the limit, ensure that the connected network is safe and reliable, and avoid operating in the public wireless network environment.

Compliance:

1. Abide by laws and regulations: The modification of the limit shall comply with relevant national financial regulations and regulatory requirements.

2. Comply with bank regulations: China Merchants Bank has certain regulations and procedures for modifying the limit, so it must operate according to the requirements.

Functional limitations:

1. Difference of limits in different channels: Online banking, mobile banking and counter handling may have different limits and conditions, so it is necessary to know clearly in advance.

2. Temporary limit and long-term limit: Some modifications may take effect temporarily, so it is necessary to distinguish between temporary limit and long-term limit, and choose the appropriate type according to your own needs.

Business impact:

1. Capital arrangement: Modifying the limit may affect your capital flow and transaction arrangement, so plan ahead.

2. Inform relevant parties: If your futures trading involves capital transactions with other parties, notify the other party in time after modifying the limit to avoid unnecessary troubles.

In short, when modifying the limit of China Merchants Bank, we should comprehensively consider our own needs, security factors, compliance requirements and possible business impact, choose the most suitable modification method, and operate in strict accordance with relevant regulations and procedures to ensure the smooth progress of financial transactions.

(Editor: Wang Zhiqiang HF013)

[Disclaimer] This article only represents the author’s own views and has nothing to do with Hexun. Hexun.com is neutral about the statements and opinions in this article, and does not provide any express or implied guarantee for the accuracy, reliability or completeness of the contents. Readers are requested for reference only, and please take full responsibility. Email: news_center@staff.hexun.com.

Repeated respiratory infections get together during the school season. Experts remind you not to cough blindly.

　　"Why do children catch a cold as soon as they go to kindergarten?" "My child is a new junior one, and he has repeated respiratory infections from time to time, which has an impact on his study and life. How to enhance his immunity?" It’s the school season again, and children who get sick as soon as they go to school begin to make their parents nervous again. When the temperature changes suddenly every year, the number of small patients in the pediatric clinic of the hospital increases.

　　Experts from the First Hospital of Changsha City give advice to parents on how to prevent recurrent respiratory infections in autumn and let children spend their school life healthily.

　　A Why can’t a child catch a cold and root it?

　　Xiaolong, who has just been in kindergarten for a few months, is a lively and active child. He looks dignified and sturdy, but his mother always sighs. It turns out that after going to kindergarten, Xiaolong will "catch a cold" every once in a while, coughing, runny nose, etc., and sometimes he has a fever and even pneumonia twice. Xiaolong’s mother said helplessly that because she often went to the hospital, doctors and nurses in the hospital pediatrics became "familiar faces".

　　Xiaolong takes some oral drugs or fluids in the hospital for a few days at a time, and he will get well soon, but he always feels that he can’t cut off his roots. Because he is often sick, he has to ask for leave from the kindergarten teacher. Xiaolong’s mother said worriedly, "When I was born, I heard from the older generation that when the child is older, my body will be better after I was 3 years old. How can I get sick when I go to kindergarten now, and I run to the hospital one after another, worrying about the side effects of drugs, no matter how worried he is about the aggravation of symptoms or even pneumonia?"

　　Mei Mei, a new junior high school student, had a general physique when he was a child. With the aggravation of study tasks, he studied longer and longer every day. Sometimes he did his homework until late and had symptoms of respiratory infection from time to time. Mei Mei’s parents want to enhance her immunity. Some people say that it is good to drink oral liquid, while others say that Chinese patent medicine is good. Mei Mei’s mother doesn’t know whether her child can take immunomodulators, which is very tangled.

　　B The diagnostic criteria of recurrent respiratory tract infection are different at different ages.

　　What exactly is recurrent respiratory infection? What are the causes of recurrent respiratory infections? How should parents and children treat and prevent it?

　　According to the chief physician Wang Xiangyun, director of pediatrics department of Changsha First Hospital, respiratory tract infection is the most common disease among children. According to statistics, every child in developing countries suffers from 4.2 ~ 8.7 respiratory tract infections every year, most of which are upper respiratory tract infections, and the incidence of pneumonia is 10 times per 100 children every year. Respiratory tract infection is divided into upper respiratory tract infection and lower respiratory tract infection. Upper respiratory tract infection is a general term for inflammation of nasal cavity, pharynx or larynx, and it is also commonly diagnosed with terms such as cold, rhinitis, pharyngitis, nasopharyngitis and tonsillitis, which is referred to as "upper sensation" for short. Lower respiratory tract infection refers to tracheobronchitis and pneumonia. The onset is mostly acute, and the only mild symptoms are nasal symptoms, such as runny nose, stuffy nose, sneezing, tears and throat discomfort. If the infection involves the nasopharynx, there are often fever, sore throat, tonsillitis, congestion and hyperplasia of lymphatic tissue in the posterior pharyngeal wall, and sometimes lymphadenopathy. There are also some manifestations of vomiting and diarrhea, which are more common in infants and children, and are clinically called "gastrointestinal cold". In severe cases, there may be persistent high fever, frequent cough, shortness of breath, poor mental health, and severe systemic symptoms.

　　Recurrent respiratory tract infection means that the frequency of respiratory tract infection is too frequent in one year, exceeding a certain range. Different ages have different diagnostic criteria, which can be divided into repeated upper respiratory tract infections and repeated lower respiratory tract infections. Repeated upper respiratory tract infection refers to the infection of infants under two years old ≥ Seven times a year, children aged 2-5 years old were infected with ≥ Six times a year, children aged 5-14 were infected with ≥ 5 times/year; Repeated lower respiratory tract infections include repeated tracheobronchitis and repeated pneumonia. Repeated tracheobronchitis refers to the infection of infants under 2 years old ≥ Three times a year, children aged 2-5 were infected with ≥ Twice a year, children aged 5-14 were infected with ≥ 2 times per year; Repeated pneumonia, regardless of age, as long as it is infected ≥ It can be diagnosed twice a year. The interval between two infections is at least 7 days.

　　C blindly pursuing cough relieving effect aggravates the condition.

　　Wang Xiangyun said that there are many reasons for recurrent respiratory infections, including the following aspects.

　　Immature or low immune function: children are in the period of growth and development, and their immune function is obviously different from that of adults. Most of them are immature or low, even at different ages. For example, the content of immunoglobulin IgA is almost zero at birth, and it only approaches the adult level when it is 11 ~ 12 years old. Among them, secretory IgA is the main immunoglobulin in respiratory secretions, which plays an important role in the first line of anti-infection defense, so children are more prone to respiratory infections.

　　Improper nursing: After suffering from respiratory infection, many parents are worried that it is caused by catching cold, knowing that the weather is hot, or letting their children wear more clothes, resulting in high fever. Wipe the whole body with alcohol after fever, which may lead to alcoholism or allergies; Some parents blindly pursue the effect of relieving cough, but use antitussive drugs, which leads to sputum secretion not being discharged, but aggravates the condition.

　　Admission to nursery institutions, initial stage of enrollment and environmental factors: nursery institutions and schools are a public environment, and children are not used to school just now, so they can’t adapt to the changes of the environment well, and there are many children. When one person catches a cold, other children don’t know how to prevent themselves, and they are in close contact with each other, which is easy to cross-infect. The northern part of China is in the cold and changeable winter and spring season, while the southern part is more likely to cause respiratory tract infections in the rainy season with high humidity in summer and autumn. At the same time, air pollution, passive smoking and other environmental factors can lead to repeated respiratory infections.

　　Unbalanced nutrition: Some children are partial to food, picky eaters and anorexia, which leads to unbalanced nutrition, and they are more prone to respiratory infections than other children.

　　Chronic focus and basic diseases: Some children are more prone to recurrent respiratory infections than normal children because of chronic focus such as rhinitis, sinusitis and chronic tonsillitis, and basic diseases such as congenital immunodeficiency.

　　D treating virus-infected people without abusing antibiotics.

　　The purpose of clinical treatment is to reduce the number of respiratory tract infections.

　　The first is to find the cause and treat the underlying diseases. The most common pathogenic factor of recurrent upper respiratory tract infection in children is pathogen invasion, and the most common are viruses, bacteria and atypical pathogenic microorganisms. Anti-infection treatment for pathogens should not abuse antibiotics for highly suspected virus-infected people, and at the same time strengthen the treatment of basic diseases.

　　Secondly, immunomodulator therapy can be performed. The use of immunomodulators can enhance the immune function of respiratory tract, effectively reduce the frequency of recurrent respiratory tract infections and the use of antibacterial drugs.

　　Third, we must do symptomatic treatment. According to different age and illness, we should correctly choose expectorant, antiasthmatic, antitussive and other drugs, atomization therapy, lung posture drainage and lung physical therapy.

　　In addition, vaccination can be carried out reasonably; Strengthen nutrition, reasonable diet, supplement trace elements and vitamins; Arrange study and life reasonably, adjust the schedule of work and rest, pay attention to the combination of work and rest, not be overtired, and take appropriate outdoor activities and exercise to enhance physical fitness; Avoid passive smoking and odor stimulation, and keep the indoor air fresh.

　　Related links

　　These tests are needed to identify recurrent respiratory infections.

　　Detection of pathogenic microorganisms: it is suggested to actively improve the joint detection of pathogens to determine what kind of pathogen infection it is. For example, anti-streptolysin O can be checked by blood sampling, which is the most common bacterium that causes tonsil suppuration; Nasopharyngeal swab examination of adenovirus and influenza virus antigen further clarified the cause of respiratory tract infection.

　　Otolaryngology examination: Some congenital developmental abnormalities and acute and chronic otorhinolaryngology infection foci such as adenoid hypertrophy and allergic rhinitis can be found directly through preliminary otolaryngology examination or nasopharyngeal laryngoscope.

　　Determination of immune function: primary and secondary immunodeficiency diseases can be found through detection of humoral immune function and cellular immune function. For example, selective IgA deficiency can lead to repeated respiratory infections.

　　Chest X-ray, lung CT and airway and vascular reconstruction: It can effectively find out the location of lung lesions, whether there are abnormal airway and lung development, airway stenosis, bronchiectasis, vascular compression and so on.

　　Bronchoscopy: The foreign body in the airway, airway obstruction and external tracheal compression, airway dysplasia and bronchiectasis can be diagnosed directly under the microscope.

　　Color Doppler echocardiography can provide diagnostic reference for recurrent respiratory tract infection caused by congenital heart disease.

　　Special examination: for example, if you suspect that you have primary ciliary dyskinesia, which leads to repeated cough and expectoration, you can perform respiratory mucosa biopsy to observe ciliary structure and function.

　　What kinds of immunomodulators can be used in children with recurrent respiratory tract infections and what are their contraindications?

　　First, immune system products

　　1. Thymosin: It can be used for the treatment of repeated respiratory tract infections caused by various primary or secondary T-lymphocyte deficiency diseases, and it is forbidden for allergic people.

　　2. Poly-myocyte: used for adjuvant treatment such as recurrent respiratory tract infections, and it is forbidden for allergic people.

　　Second, the chemical synthesis agent

　　1. Levamisole tablets: used for immunomodulation treatment of children’s recurrent respiratory tract infections, allergic rhinitis, allergic cough, bronchial asthma, atopic eczema and chronic urticaria, etc. It is forbidden for patients with liver and renal insufficiency.

　　2. Cimetidine: used as adjuvant therapy for allergic diseases, some refractory autoimmune diseases, recurrent respiratory infections, oral ulcers, etc. It is forbidden to use with central anticholinergic drugs at the same time, and it is forbidden to patients with severe heart and respiratory diseases, liver and renal insufficiency and organic encephalopathy. It is not recommended for children under 3 years old.

　　Iii. Biological agents

　　1. Bestin: used for the treatment of children’s recurrent respiratory infections and the immune regulation of abnormal diseases. It is not recommended for children with primary phagocytosis or humoral immune deficiency and infants under 1 year old.

　　2. Pantotrichum: It is suitable for the prevention and adjuvant treatment of recurrent respiratory infections, acute respiratory infections and allergic diseases. Allergic to pantothenic protein, autoimmune diseases (caused by antigen-antibody complex related to bacterial infection),

　　3. Transfer factor: it is suitable for adjuvant treatment of recurrent respiratory tract infections, infectious diseases, allergic diseases and autoimmune diseases. Allergy is forbidden.

　　4. BCG polysaccharide nucleic acid: used for preventing and treating recurrent respiratory tract infections, bronchial asthma, recurrent eczema, urticaria and other diseases. It is forbidden for people who are allergic to this preparation, patients with tuberculosis infection, other acute infectious diseases (such as measles, whooping cough, pneumonia, etc.) and children with acute infection.

　　5. Intravenous injection of human immunoglobulin (IVIG): In addition to primary and partial secondary immunodeficiency diseases, it can be used for some diseases related to autoimmune response such as premature delivery infection and intractable epilepsy, and plays an immunomodulatory role. It is forbidden to those who are allergic to IVIG or have other severe allergic history, and those who have selective IgA deficiency of anti-IgA antibody.

　　Iv. immunomodulators derived from plant medicines

　　1. Yupingfeng Granule: Allergic diseases such as allergic rhinitis, allergic cough, bronchial asthma, atopic eczema and chronic urticaria in children. In addition, it can be used as an immunomodulator for children with autoimmune diseases with local and systemic secondary immune dysfunction caused by long-term inhalation or oral corticosteroids. Use with caution during acute infection and fever.

　　2. Fuganlin oral liquid: repeated respiratory infections, cough variant asthma, and viral respiratory infections secondary to treatment with immunosuppressants. This medicine has no special contraindication.

　　3. Huangqi Granule: allergic diseases such as allergic rhinitis and bronchial asthma in children. In addition, autoimmune diseases with low immune function caused by oral corticosteroids, especially children with nephrotic syndrome, can be used as immunomodulators. Patients with cold and fever, acute infection and diabetes are forbidden to take it. (Xu Yuan Hoang Cam Instructor Wang Xiangyun, Director and Chief Physician of Pediatrics, Changsha First Hospital)

Land Rover 2015 Range Rover Sport Edition will be listed for 988,000 times.

　　　　[XCAR domestic new car original]

　　　　Recently, Land Rover officially announced that Land Rover’s 2015 Range Rover Sport Edition will be launched in January 2015. The biggest change of the new car is the addition of a model equipped with a 3.0L V6 diesel engine and diesel hybrid. It is reported that the 2015 Range Rover Sport Edition will provide 7 models to choose from, with a price range of 988.8-1.818 million yuan.

　　　　Tip: The 2015 Range Rover Sport Edition will be launched in January next year; Add body color and power; The price range is 98.8-1.818 million.

2015 Range Rover Sport Edition

　　　　The newly-added Range Rover Sport diesel vehicle is equipped with a 3.0L SDV6 engine, while the diesel hybrid vehicle is composed of a 3.0L SDV6 engine and a motor that can output 35kW(48Ps). The comprehensive maximum output power is 250kW(340Ps), the peak torque is 700Nm, and its comprehensive fuel consumption per 100km is 6.5L/100km. The power systems of other models remain unchanged.

2015 Range Rover Sport Edition

　　　　It is reported that in addition to the new diesel version, the 2015 Range Rover Sport Edition also adds three body colors: Aruba Grey Silver, Montachino Red and Kaikula Brown. In addition, the new model can also be equipped with digital TV and Meridian surround sound system.

2015 Range Rover Sport Edition

　　　　Editor’s comment:The launch of the new model will expand the product line of Range Rover, and the new car will provide consumers with more choices in power, configuration and body color. At the same time, it can also stimulate new car sales to a certain extent.

　　 Related content review:

　　　1.198 million Range Rover Sport Hybrid Model Listed in Chengdu

Ian also outbursts, making his own choice of five seats.

In the development of science and technology, the automobile industry has always been at the forefront, and advanced technology will take the lead in arming cars. Such equipment is still very popular with consumers. The richness of the configuration is closely linked to the cost performance of a car, and many people have mentioned it. As for its advantages, please read on.

First of all, from the appearance, AION Y’s front face looks more comfortable and looks very concise. Then the exquisite headlight design is adopted, and the visual impact is full. The car is equipped with LED daytime running lights, automatic opening and closing, delayed closing and so on. Come to the side of the car, the car body size is 4535MM*1870MM*1650MM, the car uses sharp lines, the side gives people a very delicate feeling, with large-size thick-walled tires, giving people a very soft feeling. In the rear part, AION Y’s rear line is domineering and stylish, and the taillights are very fashionable and dynamic, and the whole looks very beautiful.

When I came to the AION Y car, the interior shape of AION Y was more fashionable and deep. The steering wheel design of the car is very soft, made of leather and full of design sense. From the central control point of view, the 14.6-inch central control screen is used for decoration, which makes the interior design quite layered and has a certain sense of technology. The dashboard and the seat are equally eye-catching, the dashboard design is remarkable, and the trendy design elements make people remember it at a glance. The car adopts imitation leather seats, equipped with functions such as electric seat adjustment and seat proportion tilting, and it is very comfortable to ride.

AION Y matching gearbox, 100KW, 176N.m, good power performance.

AION Y trunk space is highly available, and its loading capacity is excellent. The support ratio of rear seats is lowered, and the space can be further expanded. At the same time, the car is equipped with anti-lock braking system (ABS), LED daytime running lights, brake assist (EBA/BAS, etc.), braking force distribution (EBD), traction control (ASR/TCS, etc.), main driver airbag and co-pilot airbag.

To sum up: SUV has an atmospheric appearance, good spatial performance and high cost performance. I wonder if you are interested in it.