Review on the Management of Tuojing Technology’s Board of Directors in 2022

The business review of the Board of Directors of Tuojing Technology in 2022 is as follows:

  I. Description of the industry and main business of the company during the reporting period.

(a) the company’s industry

1. Industry and determination basis

The company is mainly engaged in R&D, production, sales and technical services of high-end semiconductor special equipment. According to the Guidelines for Industry Classification of Listed Companies (revised in 2012) issued by CSRC, the company belongs to the special equipment manufacturing industry (industry code: C35). According to the National Economic Industry Classification (GB/T4754-2017), the company belongs to the special equipment manufacturing of semiconductor devices under the special equipment manufacturing industry (industry code: C3562). According to the Classification of Strategic Emerging Industries (2018) issued by the National Bureau of Statistics, the company belongs to the integrated circuit manufacturing industry under the new generation of information technology industry.

2. Semiconductor equipment industry

The development level of semiconductor industry is closely related to the national science and technology level, and its development has become the vane of economic and social development in all countries around the world, and it is an important symbol to measure the modernization degree and scientific and technological strength of a country. As the technical leader of the semiconductor industry chain, semiconductor equipment is the foundation of the development of the semiconductor industry and the key to technological progress, and its self-control is particularly important. With the iterative upgrading of semiconductor technology, semiconductor components are gradually developing towards precision and miniaturization, which constantly challenges the manufacturing technology and makes the important position of semiconductor equipment increasingly prominent.

In recent years, driven by the rapid downstream development, the semiconductor equipment industry has maintained rapid growth. According to SEMI statistics, the global sales of semiconductor manufacturing equipment in 2021 was about USD 102.6 billion, up by 44% year-on-year. In 2021, the sales scale of semiconductor equipment in Chinese mainland reached USD 29.62 billion, up by 58% year-on-year. Chinese mainland was the largest market of semiconductor equipment in the world in 2020 and 2021. In the first quarter of 2022, the global shipment amount of semiconductor equipment reached US$ 24.7 billion, up 5% year-on-year. In the first quarter of 2022, the shipment amount of semiconductor equipment in Chinese mainland ranked first, up 27% year-on-year.

At present, the global semiconductor equipment market is mainly dominated by foreign manufacturers. With China’s continuous policy support and increased investment in the semiconductor industry, domestic semiconductor equipment has achieved a qualitative leap from scratch and from weak to strong, which has continuously improved the ecology and manufacturing system of China’s semiconductor industry. However, China’s semiconductor equipment market is still heavily dependent on imports. Therefore, the domestic semiconductor equipment manufacturers who can achieve import substitution have a large market space and have a huge growth opportunity.

3. Development of the film deposition equipment industry where the company is located.

(1) Market scale of thin film deposition equipment

According to the data of SEMI and Beijing Oulixin, the global market scale of thin film deposition equipment will reach 21 billion US dollars in 2021. According to the proportion of domestic semiconductor equipment market accounting for 28.87% of the global market in 2021, the market scale of thin film deposition equipment in Chinese mainland will be about 6 billion US dollars in 2021, which is about 33% higher than the estimated 4.5 billion US dollars in 2020. In 2022, the global market scale of thin film deposition equipment will continue to grow, which is expected to reach $25 billion, and the Chinese mainland market will also maintain the growth trend, bringing broad market space for domestic thin film equipment manufacturers.

According to SEMI statistics, in the equipment investment of newly-built fabs, the investment in equipment related to wafer manufacturing accounts for about 80% of the total equipment investment. As one of the three major equipment in wafer manufacturing, the investment scale of thin film deposition equipment accounts for 25% of the total investment in wafer manufacturing equipment.

Proportion of investment in semiconductor equipment

(2) Market situation of thin film deposition equipment segments focused by the company.

Thin film deposition equipment mainly includes chemical vapor deposition (CVD) equipment and physical vapor deposition (PVD) equipment. The company mainly focuses on plasma enhanced chemical vapor deposition (PECVD) equipment, sub-atmospheric chemical vapor deposition (SACVD) equipment and atomic layer deposition (ALD) equipment in the field of CVD equipment subdivision. Different kinds of thin film deposition equipment are suitable for different requirements of different process nodes on film quality, thickness and pore groove filling ability.

According to the data of SEMI and Beijing Oulixin, in 2021, PECVD is the highest equipment type among all kinds of thin film deposition equipment in the world, accounting for 33% of the total thin film deposition equipment market, ALD equipment accounts for about 11%, and SACVD belongs to other thin film deposition equipment categories, accounting for less than 6%.

Proportion of all kinds of thin film deposition equipment

(3) Development trend of thin film deposition equipment

① The market demand for thin film deposition equipment is growing steadily.

With the improvement of the overall prosperity of the semiconductor industry, the global semiconductor equipment market shows a rapid growth trend, which drives the market demand for thin film deposition equipment to increase. Maximize Market Research predicts that the global market size of semiconductor thin film deposition equipment will reach 34 billion US dollars in 2025, with a compound annual growth rate of 13.3% from 2020 to 2025. Among them, the market scale of ALD equipment will grow rapidly. According to the market research organization Acumen research and condulting, with the increase in the number of advanced semiconductor manufacturing lines, the global ALD equipment market will reach about 3.2 billion US dollars in 2026.

In recent years, driven by the strong market demand for semiconductor products, the global fabs have expanded their production capacity and gradually moved to Chinese mainland. Chinese mainland has become the new production center of global fabs. SEMI data shows that in 2021-2022, there were 29 new fabs in the world, including 8 in Chinese mainland, accounting for 27.59%. The expansion and construction of Chinese mainland Wafer Factory has accelerated the development and layout of domestic semiconductor industry, providing a huge market space for the development of domestic semiconductor equipment.

According to the statistics of Jiwei Consulting, Chinese mainland is expected to add 25 12-inch wafer factories in the next five years (2022 -2026), with a total planned monthly production capacity of over 1.6 million wafers. By the end of 2026, the total monthly production capacity of Chinese mainland 12-inch wafer fab will exceed 2.763 million wafers. The upsurge of local fabs in China will lead the demand growth of semiconductor thin film deposition equipment in China.

(2) chip technology progress and complicated structure improve the demand for thin film equipment.

Thin film deposition refers to the deposition of a layer of thin film material to be processed on the silicon wafer substrate. The deposited thin film material can be nonmetal such as silicon dioxide, silicon nitride, polysilicon and metal such as copper. Thin film deposition equipment is mainly responsible for the deposition of dielectric layer and metal layer in each step. PECVD, ALD and SACVD products focused by the company are mainly used to deposit dielectric thin film materials, which are widely used in logic chips, 3D NAND FLASH memory chips and DRAM memory chips.

Application of dielectric thin film in logic chip

Application of Dielectric Thin Film in 3D NAND FLASH Memory Chip

Application of dielectric film in DRAM memory chip

The development of thin film equipment supports the development of integrated circuit manufacturing technology to smaller processes. With the iterative upgrade of integrated circuit chip technology, the wafer manufacturing process is becoming more and more precise, the complexity of chip structure is increasing, the required thin film deposition processes and thin film types are increasing, and the requirements for thin film performance are also increasing. This trend puts forward higher technical requirements for thin film deposition equipment, and the market is increasingly dependent on high-performance thin film equipment.

In 90nm CMOS chip technology, about 40 thin film deposition processes are needed. In the production line of 3nm FinFET process, more than 100 thin film deposition processes are needed, and the number of thin film materials involved has increased from 6 to nearly 20, and the requirements for thin film particles have also increased from micron level to nanometer level, thus driving the wafer factory to increase the demand for thin film deposition equipment.

Comparison of thin film deposition processes at different process nodes

In the field of FLASH memory chips, with the development of mainstream manufacturing technology from 2D NAND to 3D NAND structure, the complexity of the structure leads to the increasing demand for thin film deposition equipment. With the increasing number of stacked layers of 3D NAND FLASH chips, from 32/64 layers to 128/196 layers and more advanced nodes, the demand for thin film deposition equipment will continue.

Although the global semiconductor equipment market has a strong periodicity, Chinese mainland’s semiconductor industry is facing unprecedented development opportunities, with national strategic focus, huge market support, benign interaction of industrial chains, increasing industrial capital, increasing number of fabs invested by mainland and international capital, and more advanced manufacturing processes. China’s thin film deposition equipment industry will maintain high growth, and the importance of China market will be further enhanced in the future.

(2) Description of the main business.

1. Overview of the company’s main business

The company is mainly engaged in research and development, production, sales and technical services of high-end semiconductor special equipment. The company’s main products include plasma enhanced chemical vapor deposition (PECVD) equipment, atomic layer deposition (ALD) equipment and sub-atmospheric chemical vapor deposition (SACVD) equipment, which have been widely used in the production line of 14nm and above process integrated circuits in domestic fabs, breaking the monopoly of international manufacturers on the domestic market in the field of high-end semiconductor thin film deposition equipment and competing directly with international oligarchs. At present, the company is the only manufacturer of integrated circuit PECVD equipment and SACVD equipment for industrial application in China, and also the leading manufacturer of integrated circuit ALD equipment in China.

2. The company’s main products

During the reporting period, the company continued to expand the application fields of PECVD, ALD and SACVD products, continuously enriched and improved the functions of mass-produced products, maintained the core competitiveness of products, further enhanced the market share of existing products, and obtained repeated orders from existing customers and new customers in the fields of logic chips and memory chips. The scale of mass production and application of the company’s products in the wafer manufacturing production line continues to expand. By the end of the reporting period, the cumulative number of products produced by the company’s equipment in the client production line has increased from more than 46 million as of December 2021 to more than 71 million. During the reporting period, the company’s equipment performed well in the production and operation stability of the client production line, and the average Uptime of the machine was over 90% (the industry standard is usually over 85%).

On the basis of existing products, the company has actively deployed new product research and development around the subdivision of CVD equipment, and continuously enriched the company’s product categories. At present, it has developed new products such as TS-300 (polygonal high-yield platform), thermal-atomic layer deposition (Thermal-ALD) based on high-yield platform, high-density plasma enhanced chemical vapor deposition (HDPCVD) equipment and ultraviolet curing (UV Cure) equipment.

The company’s existing PECVD, ALD and SACVD products are as follows:

①PECVD series products

PECVD equipment is one of the core equipment in chip manufacturing. Due to the action of plasma, high-density and high-performance thin films can be formed at relatively low reaction temperature, and the existing thin films and the formed underlying circuits are not damaged, thus achieving faster film deposition speed. It is the most widely used equipment type in the film deposition process of chip manufacturing.

The details of PECVD series products are as follows:

②ALD series products

ALD equipment can achieve excellent step coverage and accurate film thickness control with high aspect ratio and extremely narrow trench opening, and realize the precision control of key dimensions in chip manufacturing process. ALD is one of the essential core equipment in the manufacturing of advanced logic chips, DRAM and 3D NAND with complex structure and accurate film thickness requirements.

The company’s ALD series products are as follows:

③SACVD series products

SACVD equipment is mainly used in trench filling process and is one of the important equipment for integrated circuit manufacturing. In the integrated circuit structure, the depth-to-width ratio of trench holes is increasing, and the SACVD reaction chamber environment has a unique high temperature (400-550℃) and high pressure (30-600Torr) environment, which has a rapid and superior Gap fill ability.

The company’s SACVD series products are as follows:

Note: With the continuous enrichment of the company’s product categories, the company continues to improve the product model naming rules. During the reporting period, the company’s product model name was adjusted by implementing the internal decision-making procedures of the company, and the product model was renamed according to the type of equipment platform and the type of reaction chamber.

3. Main business models

(1) Profit model

The company is mainly engaged in research and development, production, sales and technical services of high-end semiconductor special equipment. The company realizes revenue and profit by selling film deposition equipment to downstream customers and providing spare parts and technical services. During the reporting period, the company’s main business income came from the sales of semiconductor equipment, and other business income mainly came from the sales of spare parts related to equipment.

(2) R&D mode

The company mainly adopts the mode of independent research and development. The company has established an international and professional research and development technical team for semiconductor thin film deposition equipment. The company’s R&D technical team has a reasonable structure, clear division of labor, profound professional knowledge reserves and rich experience in production line verification, which is the cornerstone of the company’s independent R&D capability. Guided by customer demand, technical trends of semiconductor special equipment and national major scientific and technological special goals, the company develops and designs new products and processes, manufactures R&D machines, and debugs performance parameters. After passing the company’s test, it is sent to the customer’s actual production environment for industrialization verification, and the products are formally finalized after verification. In addition, the company will continue to enrich and improve the functions of mass-produced products according to the different process application needs of customers.

(3) Purchasing mode

Company procurement is mainly divided into standard parts procurement and non-standard parts procurement. For the procurement of standard parts, the company directly purchases from market suppliers. Non-standard parts are mainly parts designed by the company according to specific technical requirements in R&D and production. For non-standard parts procurement, the company mainly provides design drawings to suppliers and defines parameter requirements, and suppliers purchase raw materials for processing and customization; For specific parts, the company provides drawings and parameters, and supplies raw materials to suppliers, entrusting suppliers to complete customized processing.

(4) production mode

The company’s products are mainly customized and manufactured according to customers’ differentiated needs and purchasing intentions. The company mainly adopts the production mode of combining inventory production with order production. Inventory-based production means that the company starts production before obtaining the formal order, including the production activities started according to the Demo order or the clear customer purchase intention, which is applicable to the company’s Demo machines and some sales machines. Order-based production refers to the production after the company signs a formal order with the customer, which is suitable for most of the company’s sales machines.

(5) Sales and service mode

During the reporting period, the company’s sales model was direct sales, and customers’ orders were obtained through business negotiations with potential customers and bidding. After years of efforts, the company has formed a relatively stable cooperative relationship with domestic semiconductor industry enterprises.

The company’s sales process generally includes market research and promotion, obtaining customer demand and internal discussion, product quotation, bidding operation and management (if applicable), sales negotiation, contract review, signing and execution of sales orders (or Demo orders), product installation and debugging, contract payment, customer acceptance and after-sales service. After the company’s equipment is shipped to the customer’s designated place, it needs to be installed and debugged on the customer’s production line. Usually, after the customer completes the relevant tests, the equipment is accepted, and the company confirms the income after the customer’s acceptance is completed.

During the reporting period, the company’s main business model has not changed significantly.

Second, the core technology and research and development progress

1. Core technologies and their advanced features and changes during the reporting period.

Since its establishment, the company has been focusing on the research and development of semiconductor thin film deposition equipment, forming a series of core technologies with independent intellectual property rights, and reaching the international advanced level. The company’s core technology is widely used in its main business products, which solves the key problems in semiconductor manufacturing, such as uniformity and consistency of nano-scale thin films, small number of particles on the film surface, rapid film formation and stable and high-speed equipment production capacity. While ensuring the realization of film process performance, it improves the production capacity of customer production lines and reduces the production cost of customer production lines. The company’s core technology and its advanced features are as follows:

During the reporting period, the company’s core technology has not changed significantly.

Awards of national science and technology awards

Identification of "individual champions" of national-level "little giant" enterprises and manufacturing industries

2. R&D achievements obtained during the reporting period

The company has always focused on the research and development of semiconductor thin film deposition equipment. During the reporting period, the company was approved to undertake one major national special project. By the end of the reporting period, the company had undertaken seven major national special projects/projects.

The company has a number of independent intellectual property rights and core technologies. By the end of the reporting period, the company had applied for 502 invention patents, 101 utility model patents, 1 design patent and 21 PCT21 patents. A total of 107 invention patents, 79 utility model patents and 1 design patent were obtained.

On April 15th, 2022, China National Intellectual Property Administration announced the pre-winners of the 23rd China Patent Award, and the company’s patent "Load Chamber and Multi-chamber Processing System Using the Load Chamber" was shortlisted for the China Patent Excellence Award.

List of intellectual property rights acquired during the reporting period

3. R&D investment table

Reasons for significant changes in total R&D investment compared with the previous year

During the reporting period, the company continuously enriched the product categories, expanded the application fields of technology, and continuously increased the investment in R&D. The company invested 118 million yuan in R&D in this period, up 45.66% year-on-year, mainly due to the direct investment in R&D and the increase in the salary of R&D personnel.

Reasons for the great change in the capitalization proportion of R&D investment and its rationality

4. Research projects

5. R&D personnel

6. Other explanations

Second, the discussion and analysis of the business situation

During the reporting period, the company has been deeply involved in the field of high-end semiconductor equipment, focusing on the research and development and industrial application of thin film deposition equipment. Focusing on the national special strategic layout, facing the development of domestic integrated circuit chip manufacturing technology and market demand, the company gives full play to its advantages in R&D team, technical reserve, customer resources and after-sales service, seizes the market opportunity of rapid development of domestic semiconductor industry, persists in driving business development with technology and product innovation, continuously maintains the R&D and investment of new products, new processes and new technologies, enhances the market competitiveness of products, and at the same time, continuously strengthens the operation and management of the company to promote its sustained, steady and rapid development.

1. Main business conditions

During the reporting period, the company’s products continued to maintain their competitive advantage, and benefited from the capacity expansion of downstream fabs and the strong support of national policies for domestic equipment. The company’s product sales increased significantly year-on-year, achieving an operating income of 523,216,900 yuan, an increase of 364.87% over the same period of last year, and the operating income increased significantly; The net profit attributable to shareholders of listed companies was 108,122,700 yuan, and the net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 49,150,300 yuan, turning losses into profits compared with the same period of last year, and the profitability continued to increase.

During the reporting period, the company realized the main business income of 516,667,400 yuan, an increase of 392.56% over the same period of last year. The analysis of the company’s main business by product category is as follows:

During the reporting period, the company’s main business income mainly came from the sales income of PECVD equipment, ALD equipment and SACVD equipment, among which PECVD equipment was the most important source of the company’s main business income, while ALD equipment and SACVD equipment realized income compared with the same period.

2. The company’s product development and industrialization progress

During the reporting period, the company continued to maintain a high level of R&D investment, gradually improved the technological innovation capability of existing products, maintained the core competitiveness of products, continuously enriched the types of equipment, and broadened the coverage of film technology products, and made breakthroughs and progress in product industrialization and new product research and development.

(1) Progress of industrialized application of existing products

①PECVD series products

During the reporting period, the company’s PECVD(PF-300T (two-station)) equipment continued to maintain its competitive advantage, the order volume increased steadily, and the market share continued to increase, which has been accepted by existing and new customers. By the end of the reporting period, the company’s PECVD(PF-300T) equipment has been widely used in domestic wafer manufacturing production lines, including 28nm and above logic chips, 3DNANDFLASH, DRAM memory chip manufacturing and other fields.

PECVD(NF-300H (six-station)) equipment introduced by the company has achieved the first industrial application in the field of DRAM memory chip manufacturing, and can deposit ThickTEOS dielectric thin films. The equipment can process up to 18 wafers at a time, with high yield and good performance index, which broadens the application coverage of the company’s process.

②ALD series products

During the reporting period, the verification of the company’s PE-ALD series products in the manufacturing fields of logic chips, 3DNANDFLASH and DRAM memory chips progressed smoothly, and the ALD reaction chamber passed the acceptance of existing customers. At the same time, the company is oriented by customer demand and actively deploys the application and expansion of PE-ALD advanced film technology. By the end of the reporting period, the company’s PE-ALD series products have been industrialized in the field of logic chips, which can deposit SiO2 _ 2 dielectric materials with high temperature, low temperature and high quality.

By the end of the reporting period, the company’s Thermal-ALD(PF-300T (two-station)) equipment has completed product development and obtained customer orders, and has been continuously optimized and improved according to customer index requirements.

③SACVD series products

During the reporting period, the company’s SACVD products continued to expand their application fields, and BPSG and SATEOS thin film processes obtained customer acceptance in the field of 40/28nm logic chip manufacturing. By the end of the reporting period, SACVD products of the company have been widely used in the field of logic chip manufacturing of 12-inch 40/28nm and 8-inch 90nm or above, and have obtained orders from existing and new customers.

(2) Progress of new products

During the reporting period, the company continuously enriched the types of equipment in the field of CVD subdivision, expanded the product coverage, and developed TS-300 (polygonal high-yield platform), Thermal-ALD based on high-yield platform, and high-density plasma enhancement.

Learn new products such as vapor deposition (HDPCVD) equipment and ultraviolet curing treatment (UVCure) equipment, and make breakthroughs and progress. The details are as follows:

①TS-300 (Polygon High-yield Platform)

Based on the existing platform, the company developed and designed the design of hexagonal transmission platform, which can carry up to five reaction chambers (10 reaction stations) at the same time, improve the productivity of thin film deposition equipment, and at the same time, integrate and combine various processes to realize continuous multi-step deposition in vacuum environment. The company’s polygonal high-capacity platform can be equipped with PECVD reaction chamber, ALD reaction chamber and HDPCVD reaction chamber, and has obtained orders from existing and new customers.

②ALD series products

Based on Thermal-ALD(PF-300T (Two-station)) equipment, the company developed Thermal-ALD(TS-300 (Polygonal High-yield Platform)) equipment, which can improve the production capacity, at the same time, integrate and combine various thin film processes, and can deposit various metal compound thin film materials such as Al2O3 and AlN, and has obtained customer orders.

③HDPCVD series products

High-density plasma enhanced chemical vapor deposition (HDPCVD) equipment can deposit and sputter thin films at the same time, so as to fill trenches with the aspect ratio less than 5:1. The films deposited by HDPCVD have higher density and lower impurity content, which is mainly suitable for the field of 130-55nm process logic chip manufacturing. The company has developed HDPCVD(PF-300T (single station)) equipment and HDPCVD(TS-300 (polygonal high-yield platform)) equipment, which can deposit thin films of dielectric materials such as SiO2 _ 2, FSG and PSG. HDPCVD series (PF-300T (single station)) equipment has been shipped to the client for industrial verification. Both of the above two equipments have obtained customer orders.

④UVCure equipment

UVCure equipment is mainly used for ultraviolet curing of thin films, which can effectively improve the efficiency and thermal budget of post-treatment process of thin films, and improve key performance indexes such as stress, granularity and hardness of thin films. The company’s UVCure equipment has been designed and developed, which can be used in complete sets with PECVD equipment to carry out UV curing treatment for PECVDLokII, HTN and other thin film deposition. It has been shipped to the client for industrial verification and obtained customer orders.

3. Supply chain security

The company continuously optimized the supply chain management system and established a multi-dimensional coordination mechanism covering production and inventory management, procurement management and logistics management. The company has always attached great importance to the cultivation of suppliers, continuously improved the supplier support and performance appraisal mechanism, and promoted the continuous improvement of supplier product quality and product performance. Under the background of global supply chain tension and epidemic situation, the company strengthened the depth and scope of cooperation with suppliers, constantly adjusted and optimized the supply chain structure by planning in advance and sharing demand forecast, and adopted a global and multi-source supply strategy. At the same time, according to customer demand and R&D demand, the volume and progress of parts procurement are reasonably planned to ensure the timely and stable supply of key parts. During the reporting period, the company’s upstream supply chain remained generally stable, effectively ensuring the smooth progress of production.

4. Market sales

During the reporting period, the company continued to focus on the thin film deposition market in Chinese mainland, and seized the market opportunities brought by the expansion of domestic downstream wafer manufacturing plants. With the core competitive advantages of the company’s products, the market share and customer recognition continued to increase: (1) the company’s three series of products and new products, PECVD, ALD and SACVD, obtained existing and new customer orders; (2) The verification of the company’s products in the customer’s production line progressed smoothly and achieved good results. The scale of mass production and application in the wafer manufacturing production line continued to expand, and the sales volume of products increased significantly year-on-year; (3) The company continues to maintain in-depth and stable cooperation with downstream customers and continue to provide customized high-performance products, laying a solid foundation for the company’s future business growth.

5. Talent team building

During the reporting period, the company continued to strengthen the construction of talent echelon and expand the scale of personnel according to the needs of business development. In terms of talent introduction, actively attract experienced management and technical talents in the industry, and select outstanding graduates from domestic universities. In terms of personnel training, the company continuously optimizes the training system, gives full play to the performance appraisal and incentive mechanism, and enhances the sense of honor and cohesion of employees; Continue to strengthen close cooperation with universities and implement targeted recruitment linked with factories and schools; Establish a joint training mechanism with domestic universities to train reserve talents directionally, which provides strong support for the construction of the company’s talent team.

6. Operation management

During the reporting period, the company continuously improved the product manufacturing level, optimized the material operation management, and effectively improved the timely rate and qualified rate of assembly and manufacturing. The company continuously strengthens the product quality management system, and maintains a high level of after-sales technical support services to enhance customer satisfaction. The company has an EHS (Environment, Health and Safety) compliance management department to supervise the company’s production and operation to ensure the compliance and safety of the company’s production. The company actively arranges information system technical protection and security management to ensure the company’s network security and data security.

7. The company’s initial public offering and progress in the construction of fundraising projects.

During the reporting period, the company completed the initial public offering and listed on the science and technology innovation board of Shanghai Stock Exchange. This initial public offering issued 31,619,800 shares of RMB common stock (A shares) to the public, with the par value of RMB 1 yuan per share, and the issue price was RMB 71.88 per share. The total amount of funds raised was RMB 2,272,831,200. After deducting the issuance expenses of RMB 145,234,000, The success of the company’s initial public offering provides a strong financial guarantee for the company to expand its production scale and develop new technologies and products.

The Company’s fundraising project "High-end Semiconductor Equipment Expansion Project" is the expansion project of "Semiconductor Film Equipment Industrialization Base (Phase I) Project", and the second phase of clean workshop construction, supporting facilities and production automation management system construction are carried out on the basis of the company’s original semiconductor film equipment R&D and production base. During the reporting period, the second-phase clean workshop was basically completed and put into production, and the layout of production automation management system was carried out at the same time.

The third fundraising project, ALD Equipment R&D and Industrialization Project, relies on the advantages of integrated circuit industrial cluster in the new area and talents in Shanghai, and strives to recruit first-class R&D teams to conquer high-end chip manufacturing thin film deposition equipment. During the reporting period, the company’s R&D and industrialization base construction is progressing smoothly, and ALD products have been developed.

8. Foreign investment

During the reporting period, the Company made the following investments:

(1) Establish a wholly-owned subsidiary in the United States.

During the reporting period, the company set up a wholly-owned subsidiary, Tuojing USA. The establishment of this company is conducive to the company to strengthen supply chain cooperation and investigate the international market. As of the end of the reporting period, Tuojing USA has not actually operated.

(2) Capital increase to Tuojing Shanghai

On June 17, 2022, the company held the 11th meeting of the first board of directors, deliberated and passed the Proposal on Using the raised funds to increase capital to wholly-owned subsidiaries to implement fundraising projects, and agreed that the company would use the raised funds to increase capital to Tuojing Shanghai by 270 million yuan to implement the fundraising project "ALD Equipment R&D and Industrialization Project". After this capital increase, the company will accelerate the research and development and industrialization of ALD equipment, improve the layout of the company’s product line and improve the market competitiveness of the company’s products. On July 20, 2022, the company has paid the capital increase to Tuojing Shanghai. On August 9, 2022, Tuojing Shanghai completed the registration of industrial and commercial changes.

(3) Capital increase to Hengyunchang and equity participation in Hengyunchang

On June 17th, 2022, the company held the 11th meeting of the first board of directors, deliberated and passed the Proposal on Foreign Investment and Participation in Shenzhen Hengyunchang Vacuum Technology Co., Ltd., and agreed that the company would increase its capital to Hengyunchang by RMB 20 million with its own funds, accounting for 35,088% of the total share capital of Hengyunchang after the capital increase. Hengyunchang is mainly engaged in R&D, production and sales of RF power supply for semiconductor equipment, photovoltaic and industrial equipment, and has supplied RF power supply, RF matcher and other products for the company. This capital increase is conducive to the company to improve its industrial layout, which is consistent with the company’s strategic layout, has a synergistic effect with its main business, and can enhance the stability of the company’s upstream supply chain. On July 14th, 2022, the company has paid the capital increase to Hengyunchang. On August 8, 2022, Hengyunchang completed the registration of industrial and commercial changes.

9. Corporate governance

During the reporting period, the Company held a general meeting of shareholders, five meetings of the Board of Directors, one meeting of the Audit Committee of the Board of Directors, one meeting of the Remuneration and Assessment Committee of the Board of Directors and two meetings of the Board of Supervisors.

As a listed company, the company has continuously improved its governance structure in strict accordance with the requirements of the Company Law, the Securities Law, the science and technology innovation board Stock Listing Rules of Shanghai Stock Exchange and the Articles of Association of Tuojing Technology Co., Ltd., so as to improve the scientificity, rationality, compliance and effectiveness of management decisions, improve the level of corporate governance and standardized operation, and lay a good foundation for the realization of the company’s business objectives.

10. Company information disclosure and prevention of insider trading.

The company attaches great importance to the standardized operation of listed companies, information disclosure management and investor relations management. According to the relevant laws, regulations and departmental rules, the company has formulated internal systems for regulating the operation of shareholders’ meeting, board of directors, board of supervisors, information disclosure and investor management, and strictly abided by them. The company earnestly fulfills its obligation of information disclosure to ensure the timeliness, truthfulness, accuracy and completeness of information disclosure; Communicate with investors through investor conference call, fax, e-mail and interactive platform for investor relations, and receive on-site investigation of investors, so as to establish a good interactive relationship.

The company attaches great importance to the prevention of insider trading, and completes the registration management of insider information and the prevention of insider trading. Give warnings and education to directors, supervisors, senior managers and relevant employees of the company on a regular basis to prohibit insider trading, and urge directors, supervisors, senior managers and relevant insiders to strictly fulfill their confidentiality obligations and strictly abide by the regulations on stock trading.

Major changes in the company’s operation during the reporting period, as well as matters that have a significant impact on the company’s operation during the reporting period and are expected to have a significant impact in the future.

Third, possible risks

(A) operational risks

1. The risk that the expansion of the wafer factory is less than expected.

The scale of capacity investment in downstream fabs determines the market space of semiconductor special equipment. The expansion investment of the wafer factory has a certain periodicity. If the investment intensity of the downstream fabs decreases, the company will face a decline in market demand, which will adversely affect the company’s operating performance.

Under the background of localization of semiconductor equipment, the company will continuously strengthen its product market competitiveness, improve the trust of existing customers and continuously expand new customers through continuous research and development; The company will always pay attention to the development stage of the semiconductor industry cycle, coordinate all aspects of the company’s purchase, production and sales according to market conditions, and maintain the coordination between the company’s business activities and the industry cycle; At the same time, the company will always ensure that the cash flow is reasonable and sufficient to avoid the company’s operation in the downturn of the industry.

2. Market competition risk

At present, the company’s competitors are mainly internationally renowned semiconductor equipment manufacturers. Compared with Chinese mainland’s semiconductor special equipment enterprises, the international giants have the first-Mover advantage of clients, and the company’s comprehensive competitiveness is in a weak position and its market share is low. In addition, domestic semiconductor equipment manufacturers may enter each other’s business fields and develop similar products. The company faces double competition from international giants and potential new domestic entrants. If the company cannot effectively cope with the market competition environment, its industry position, market share and operating performance will be adversely affected.

At present, the company is the only manufacturer of integrated circuit PECVD equipment and SACVD equipment for industrial application in China. The company will continue to pay attention to the development of foreign competitors, shorten the technology gap with foreign manufacturers through continuous and effective R&D investment, and at the same time pay close attention to the domestic competition pattern to continuously enhance the core competitiveness of products; The company will always pay attention to the competitive situation of the industry, set the direction of research and development scientifically and reasonably, speed up the progress of research and development, and build a higher barrier to entry into the industry; At the same time, the company will also maintain closer cooperation with customers to achieve common growth with downstream customers.

3. Risk of long product acceptance period

The technical parameters of thin films deposited by thin film deposition equipment directly affect the performance of chips. In production, it is not only necessary to detect the film after it is formed

The performance indexes such as thickness, uniformity, optical coefficient, mechanical stress and granularity need to be completed in the wafer production process and chip sealing.

After installation, the reliability and life cycle of the final chip product are tested to measure whether the thin film deposition equipment finally meets the technical standards.

Therefore, the verification time required by the wafer factory for thin film deposition equipment may be longer than other semiconductor special equipment. If affected by some factors, the acceptance period of the company’s products will be extended, the company’s income confirmation and collection will be delayed, which will increase the company’s financial pressure and affect the company’s financial situation.

With the gradual expansion of the application scale of the company’s integrated circuit manufacturing production line, the company’s product technology is becoming more and more mature, and under the efficient and stable cooperation mechanism with customers, the product verification cycle is gradually shortened. The follow-up company will continue to pay attention to the company’s product acceptance and payment, and ensure the sustained and healthy development of the company’s operations.

4. The loss of technical personnel and the risk that high-end technical personnel cannot be continuously introduced.

Semiconductor equipment is a typical technology-intensive industry. In recent years, the domestic semiconductor special equipment market and wafer manufacturing demand are increasing, the competition for talents in the industry is becoming increasingly fierce, and there is a serious shortage of professional and technical talents. If the company can’t continue to provide better salary and development platform for technical talents and attract high-end technical talents from all over the world, it will face the situation of loss of technical talents and insufficient reserves, which may lead to insufficient innovation ability of the company.

The company provides R&D personnel with competitive salary and benefits in the market, continuously improves the performance evaluation and assessment promotion mechanism, and realizes the long-term common development of employees and the company. During the reporting period, there was no loss of core technicians, which ensured the stability of the core R&D team.

5. Risk of technological innovation

With the development and iteration of technology in semiconductor industry, the demand of downstream customers for thin film deposition equipment and performance also changes. Therefore, the company needs to maintain a high R&D investment and maintain the core competitiveness and advanced level of its products. If the company fails to accurately understand the requirements of downstream customers’ production line equipment and process technology evolution in the future, or the technological innovation products cannot meet the needs of customers, it may lead to the company’s equipment failing to meet the manufacturing needs of downstream production lines, which may adversely affect the company’s operating performance.

The company has established a scientific R&D system, with technical innovation closely following the market demand, and the R&D project is guided by customer demand, and always keeps continuous and effective communication with customers, so as to avoid possible losses caused by technical R&D failure.

(B) Financial risks

1. Risk of changes in government subsidy policies

During the reporting period, the government subsidies received by the company mainly supported the company’s R&D investment. In the future, if the government departments’ policy support for the company’s industry is weakened, or other subsidy policies are adversely changed, the amount of government subsidies obtained by the company will be reduced, and the company will need to invest more self-raised funds for research and development, which will affect the company’s cash flow. In addition, the reduction of government subsidies will also have a certain adverse impact on the company’s operating performance.

The company will continue to expand its business scale and improve its profitability, so as to gradually reduce its dependence on government subsidies.

2. The risk of unsustainable profitability

During the reporting period, the company’s net profit attributable to shareholders of listed companies was 108,122,700 yuan, and the net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 49,150,300 yuan, turning losses into profits compared with the same period of last year. However, the company needs to maintain a large amount of investment in future R&D activities. If the progress of the company’s R&D projects or the sales of major products are less than expected, the company may have a performance that is less than expected, and there is a risk of unsustainable profitability.

Guided by market demand, the company will continue to enrich its product categories, optimize its product structure, enhance its core competitiveness, and continuously expand its market scale, so as to ensure its operating performance and enhance its profitability.

(C) Macro-environmental risks

1. The risk of increasing international trade friction affecting the safety of the company’s supply chain

In recent years, international trade friction has been constant, and Sino-US trade friction has aggravated the instability of global supply chain. At present, some parts of the company still need to be purchased from foreign suppliers. If the international trade friction intensifies further, the above-mentioned foreign suppliers may be affected by relevant policies to reduce or stop supplying parts to the company, thus affecting the company’s product production capacity, production schedule and delivery time, and reducing the company’s market competitiveness.

Companies and suppliers actively carry out deeper and broader cooperation, adopt a global and multi-source supply strategy, and build a stable cooperation channel to strengthen their own supply chain security and reduce the risks brought by the instability of the international industrial chain.

2. COVID-19 epidemic risk

At present, the epidemic situation in COVID-19 is still spreading around the world, and China is under great pressure to prevent and control the epidemic situation. If a large-scale epidemic breaks out in the place where the company operates, it will adversely affect the company’s production, sales and delivery. In addition, the spread of the epidemic may affect the healthy development of the upstream and downstream of the industry to a certain extent, which may adversely affect the production and operation of the company’s raw material supply and product transportation.

The company attaches great importance to the prevention and control of epidemic situation, always pays attention to the epidemic situation, and continuously improves the production and operation management mechanism under the situation of normalized epidemic situation. During the reporting period, the COVID-19 epidemic did not have a substantial impact on the company’s business.

Iv. analysis of core competitiveness during the reporting period

(A) analysis of core competitiveness

The company is committed to the research and development and production of world-leading semiconductor thin film equipment, and always insists on independent innovation to continuously provide competitive products for the semiconductor industry and customers. The company has established an innovative management system, and has formed competitive advantages in R&D team, technology accumulation and R&D platform, market expansion and after-sales service, which are embodied as follows:

1. It has rich technical reserves and international advanced core technology advantages.

Since its establishment, the company has adhered to independent innovation, formed a series of original designs and built a perfect intellectual property system. By the end of the reporting period, the company had obtained 187 authorized patents, including 107 invention patents.

The company has successively undertaken seven major national special projects/projects, and has developed PECVD, ALD and SACVD equipment supporting different process models, accumulated a number of core technologies for research and development and industrialization in the field of semiconductor thin film deposition equipment, and built a research and development platform with the ability to extend the development of equipment types and process models.

Facing the actual demand of domestic semiconductor manufacturing industry and the evolution rhythm of production line, the company has reserved advanced dielectric material technology thin film deposition technology below 28nm in the field of logic circuit application, 3DNAND and DRAM dielectric thin film deposition technology in the field of memory chips, and dielectric thin film deposition technology needed in the field of advanced packaging, such as TSV, 2.5D-IC and 3D-IC integration. In the future, the company will insist on high-intensity R&D investment, continuously upgrade and optimize existing equipment and processes, and constantly introduce new technologies and equipment for future development needs.

2. Excellent technical research and development and management team advantages.

The company has built an international and professional research and development and management team of semiconductor thin film deposition equipment technology. The founding team of the company takes returned overseas experts as the core, based on core technology research and development, actively introduces overseas high-level talents and independently trains local scientific research teams.

The company’s international and professional senior management team and the incentive system of full shareholding have attracted a large number of experienced domestic and foreign semiconductor equipment industry experts to join the company and made outstanding contributions in machine design, process design and software design. Since its establishment, the company has cultivated its own local research team. With the successful research and development of many products, the company’s local research team has grown into the backbone of the company’s technology research and development. By the end of the reporting period, the company had 296 R&D personnel, accounting for 43.72% of the company’s total employees. The company’s R&D technical team has a reasonable structure, clear division of labor, profound professional knowledge and rich experience in production line verification, which is the cornerstone of the company’s technical strength and guarantees the market competitiveness of its products. During the reporting period, the company’s core technical team was stable and there were no major adverse changes.

3. Leading position in the industry and rich advantages in customer resources.

With the vision of establishing "the world’s leading thin film equipment company", the company has become a leading enterprise in the domestic semiconductor equipment industry through the accumulation and rapid development in the field of thin film deposition equipment, a semiconductor core equipment subdivision.

The company has formed a relatively stable cooperative relationship with domestic semiconductor industry enterprises. The company’s main products PECVD, ALD and SACVD equipment have been sent to the production lines of major integrated circuit fabs in China in batches. In addition, the company actively pays attention to the international market demand and explores the international market in a timely manner.

4. Stable supply chain and low operating cost advantage.

The company has established a perfect supply chain management system, absorbed and accumulated global supply chain resources, established strategic cooperative relations with key suppliers, and built a stable supply chain structure. Through periodic evaluation and examination of suppliers, suppliers are encouraged to improve product quality, delivery time and cost control, so as to improve the competitiveness of enterprises. Based on collaboration, the company interacts with suppliers in real time to jointly carry out agile collaborative product innovation and maintain a good and stable cooperative relationship.

The company’s main competitors are located in the United States and Japan, and the cost of serving customers in Chinese mainland is high. The company’s R&D and production are mainly located in Chinese mainland, which has a geographical advantage. In terms of product design, the company works closely with suppliers to make products modular and easy to maintain, thus reducing the company’s raw material procurement costs. With the continuous maturity of local suppliers, the company has been given more purchasing options. Therefore, compared with its main competitors, the company has certain advantages in operating costs, and with the continuous improvement of production capacity, the advantage of cost reduction will be more obvious.

5. Provide customized products and efficient after-sales service advantages.

The company’s rapid response ability to the specific process materials and specific manufacturing processes put forward by customers can meet the needs of customized equipment in customer production lines in time. This is extremely important for local customers in China to rapidly expand their production capacity in recent years, thus establishing and consolidating a stable cooperative relationship with customers. The production base of the company’s main customers is located in Chinese mainland. Compared with international competitors, the company’s top management and technical team are closer to the main customers, and can provide efficient and timely technical support and after-sales service to ensure and meet customer needs in time.

Provincial list, Jiaojiang 8 people

Jiaojiang release

Recently, Zhejiang Provincial Department of Human Resources and Social Security, Zhejiang Federation of Trade Unions and Zhejiang Provincial Committee of the Communist Youth League jointly issued a document to publish the "List of Personnel of Zhejiang Artisans Training Project in 2023", and 8 people from Jiaojiang District were selected.

Come and see, are there any craftsmen you know?

Wang Yongjun

Wang Yongjun, male, born in June, 1977 in Taizhou, Zhejiang Province, now works in Zhejiang Haizheng Pharmaceutical Co., Ltd., as deputy director of the workshop, chief chemical engineer and engineer, mainly responsible for the production of anti-tumor APIs. Won the honors of Zhejiang craftsman, Zhejiang Golden Blue Collar, the second prize of Zhejiang Workers’ Vocational Skills Competition, the second prize of group, Taizhou craftsman, five-star Taizhou mechanic, Taizhou technical expert, Jiaojiang technical expert, Jiaojiang Wang Yongjun technician studio leader, Jiaojiang model worker craftsman innovation studio leader, etc. Instructed and trained a number of technicians and senior engineers, and achieved excellent results in the vocational skills competitions of chemical general control workers in Zhejiang, Taizhou and Jiaojiang. One person won the Zhejiang Excellence Award, three people won the Taizhou Technical Expert, two people won the Taizhou May 1st Labor Medal and two people won the Jiaojiang Technical Expert.

Zhao erqiang

Zhao Erqiang, male, born in November 1988 in Tianshui, Gansu Province, party member, graduated from College of Medicine and Chemical Engineering of Taizhou University, and is a chemical inspector technician and engineer. Now he works in Zhejiang Haizheng Pharmaceutical Co., Ltd. as QC supervisor, mainly responsible for the process verification and commercial testing of preparation products. He was honored as a representative of the 15th Communist Youth League Congress in Zhejiang Province, a Zhejiang craftsman, a Zhejiang young craftsman, a Taizhou May 1st Labor Medal, a Taizhou skill master, a Taizhou craftsman, a five-star Taizhou mechanic, a practical talent shortage for enterprises in Jiaojiang District, and a Jiaojiang craftsman. Over the past three years, five technicians and ten senior technicians have been trained, many of whom have achieved excellent results in the vocational skills competition of chemical inspectors in Taizhou and Jiaojiang District, one has won the Zhejiang Young Craftsman, two have won the May 1st Labor Medal in Taizhou, and three have won the Taizhou Technical Expert.

Wang zhi

Wang Zhi, male, born in May, 1983 in Taizhou, Zhejiang Province, party member, graduated from Chongqing University. He is a senior engineer, locksmith technician and professional qualification appraiser of the Ministry of Human Resources and Social Security. Now he works for Jack Technology Co., Ltd. as the director of seam development. He was awarded the honors of Zhejiang craftsman, Taizhou craftsman, young scientific and technological talents in sewing machinery industry, Taizhou 211 talents, advanced individual in United front work in Jiaojiang District, young post expert in Jiaojiang District, leader of model worker innovation studio for high-skilled talents in Jiaojiang District, outstanding skilled talents in Jiaojiang District, and practical talents in enterprises in Jiaojiang District. Engaged in sewing machine development and technological innovation for 18 years, presided over and participated in the development of more than 30 new products and more than 50 new technologies. Drafted one group standard of Zhejiang Manufacturing and one group standard of "Made in Zhejiang", published two papers, obtained more than 40 authorized invention patents and more than 50 utility model patents, and trained more than 10 technical business backbones for the company, including 3 technicians and 3 senior engineers.

Wang Hui

Wang Hui, male, born in September, 1983 in Taizhou, Zhejiang Province, party member, graduated from Dalian University of Technology as a fitter technician and mechanical engineer, and now works for Jack Technology Co., Ltd. as the quality director of metalworking workshop, mainly responsible for the design and debugging of process/fixture, workshop project transformation and workshop quality management. Zhejiang craftsman, Taizhou craftsman, Taizhou technical expert, Taizhou youth post expert, four-star Taizhou mechanic and other honors. Participated in the research and development of more than 20 new products, process and tooling design, and five rationalization suggestions for safety production won the honor of "Top Ten Golden Ideas" and "Silver Ideas" in the city; Published 2 papers and won 1 utility model patent; Technical innovation, 9 production line projects have a total of more than 100 innovations, saving nearly 6.5 million yuan/year; A number of studies won the first and second place in QCC improvement achievements of enterprises.

Mingming Fan

Mingming Fan, male, born in July, 1987 in Quzhou, Zhejiang Province, party member, senior technician of CNC lathe, leader of the workshop of famous CNC lathe machining technicians in Mingming Fan, Taizhou, and leader of the workshop of Mingming Fan skill masters in Jiaojiang District, now works in Taizhou Technical School as a mechanical professional teacher and senior practice instructor. He was awarded the honors of Zhejiang Technical Expert, Taizhou Chief Technician, Taizhou Excellent Instructor of CNC Car, Taizhou Excellent Instructor of Comprehensive Processing, Jiaojiang Excellent Skilled Talents, Jiaojiang Top Ten Skilled Experts, Jiaojiang Youth Post Expert and Jiaojiang Outstanding Youth Pioneer. He won the first prize 3 times and the second prize 2 times in Zhejiang CNC Competition. Publish 3 textbooks, one as the chief editor and one as the deputy chief editor; Published 5 professional and technical papers; Presided over 4 provincial and municipal projects and participated in 6 provincial and municipal projects; The students have won many awards in national, provincial and municipal numerical control skill competitions.

Zheng jiazheng

Zheng Jiazheng, male, born in September 1999 in Taizhou, Zhejiang Province, graduated from Hangzhou Wanxiang Vocational and Technical College as a CNC lathe technician, and now works for Zhejiang Chengxin Medical Equipment Co., Ltd. as a CNC machining technician, mainly responsible for CNC lathe processing programming and process improvement. Won the honor of Zhejiang craftsman, Zhejiang young craftsman, Taizhou craftsman, Taizhou technical expert, Jiaojiang craftsman, Jiaojiang technical expert and so on. Participated in the national 3D digital innovative design competition and won the first prize and the third prize respectively in Zhejiang Selection Competition, the first prize in Taizhou Vocational Skills Competition and the third prize in Taizhou Youth Vocational Skills Competition. Participated in more than ten technical transformation projects of the company, and solved technical problems for the company.

Chen zhong

Chen Zhong, male, born in February, 1977 in Baishan, Jilin Province, graduated from Dalian University of Technology, and is a senior technician and engineer of equipment inspection. Now he works for Zhejiang Haixiang Pharmaceutical Co., Ltd. as the technical director of engineering equipment, responsible for the daily operation and maintenance, technical upgrading and technological innovation of enterprise equipment production lines. He was honored as a Zhejiang craftsman, a "100 million" high-skilled leading talent in Zhejiang Province, an "outstanding high-skilled leading talent" in Quzhou City, Zhejiang Province, a "scientific expert" in Zhejiang Science and Technology Department, a Taizhou craftsman, a five-star Taizhou mechanic and a Jiaojiang craftsman. Declared 8 invention patents, 7 utility model patents and 4 chief editor’s papers. Trained 2 senior technicians, 4 technicians, 1 young craftsman from Zhejiang and 2 four-star Taizhou technicians. His apprentice won the first place in Taizhou Electrician Competition, the May 1st Labor Medal from Taizhou, the Golden Blue Collar from Jiaojiang and the second place in Jiaojiang District Electrician Competition.

Nie Yujian

Nie Yujian, male, born in Taizhou, Zhejiang Province in February 1999, graduated from zhejiang mechanical and electrical Vocational and Technical College, and is an ordinary lathe/CNC lathe technician. Now he works in Zhejiang Tongyu Variable Speed Machinery Co., Ltd. as a lathe/milling worker of fixture group, mainly responsible for the trial production and processing of fixture. He was awarded the second prize of Zhejiang Craftsman, Zhejiang Young Craftsman, Zhejiang Workers’ Lathe Vocational Skills Competition, the first prize of Taizhou Second Vocational Skills Grand Racer, Taizhou Skills Master, Taizhou May 1st Labor Medal, Jiaojiang District Technical Expert and other honors. Participate in the company’s multi-station four-sided milling technology of reducer box, grinding technology of reducer transmission shaft, trial-manufacture and processing of various fixtures such as various boring and milling rods and assembly tools.

Source: Jiaojiang Labor and Personnel

Editor: Ye Yuxin

Editor: Zhang Qi

Original title: "Provincial List, 8 people in Jiaojiang"

Read the original text

Planning | What is Doctor Strange Spider-Man’s "Battle of Electric Power" playing?

Special feature of 1905 film network Doctor Strange’s cross-border "invention madman" Edison, General zod became "business tycoon" westinghouse.The X-Men beast turned into Tesla, an "electric genius", and Spider-Man acted as Insull, a "scientific rookie".


Such a cross-dimensional combination can only be seen in new films.

 

"Battle of Electricity" poster

The film is a collection of four famous actors, which takes us back to the era of the second industrial revolution more than 100 years ago and witnesses the "power war" that changed the course of human history.

 

In the movie, this war between DC and AC is not only a game between technology and commerce, but also a torture of morality and humanity.

 

These familiar names, such as Edison, Tesla and westinghouse, have also changed from words with no temperature in books and trademarks to vivid, three-dimensional and flesh-and-blood characters.


Is the power war in history as ups and downs as in the movie, and are the lives and past of the three talented giants more legendary than in the movie?

 

01 What’s the battle for electricity?


In the 1970s and 1980s, after Edison invented the electric light with extensive use value, the next step was how to push the electric light to the market and enter every household in the United States.

 

Edison chose DC power distribution system, while his rivals westinghouse and Tesla have been working on AC power. In this way, the "war" between DC and AC is imminent.


The advantages and disadvantages of both are obvious. Direct current can’t be transmitted over a long distance. It requires a power station within every square mile, which is only suitable for crowded towns. In addition, raising or lowering the DC voltage also requires complex circuits.Alternating current can not only be transmitted over a long distance, but also can be boosted and stepped down conveniently through a transformer, so as to transmit electric energy more effectively and at a lower cost.


In the process of the two sides attacking the city, the advantages of alternating current in long-distance transmission and cost are becoming more and more obvious.

 

In 1893, the Chicago World Expo chose Westinghouse Electric of westinghouse to supply power for the exhibition.

 

At the opening ceremony, Tesla held a wire in one hand and a light bulb in the other, lighting 90,000 light bulbs at the same time, which shocked the audience and shattered the rumors about the safety of alternating current.


The Battle of Electric Power (Part II) restored the splendor of the 1893 Chicago World Expo.

 

Three years later, Niagara Falls Power Company awarded the contract for the development and implementation of long-distance transmission technology to Westinghouse.

 

The "Niagara Hydropower Station" designed by Tesla and others has been in operation for more than a hundred years and has become a major scientific initiative of mankind.


The victories of Westinghouse Electric and Alternating Current in these two iconic "battles" made the victory of this electric power negative.


Niagara Falls


However, from a long-term point of view, at present, household appliances and IT products (such as mobile phones and computers) all use direct current.

 

In ultra-long distance high voltage transmission, DC has more advantages than AC. By the end of 2018, China had built 14 DC UHV lines.


Zhundong-southern Anhui UHV DC transmission project

 

In reality, the "electric power war" is not a winner or loser. The collision of several "super brain" in technology and commerce has jointly promoted the technological revolution of human society.

 

02 Edison who stepped off the "textbook"

 

"Steve Jobs Biography" wrote: "After a hundred years, we will definitely remember him. History will put him in the pantheon alongside Edison and Ford. "

 Thomas Edison (historical data map)


This sentence reflects Edison’s position from the side. He is the "king of inventions" across the ages, with more than 1,500 invention patents, ranking ninth among the 100 people who have influenced the United States. Hoover, the 31st president of the United States, commented: "He is a great inventor and a benefactor of mankind."


However, "Battle of Electric Power" has to "invite Edison down from the altar", and it also shows us a king of invention who is more flesh and blood than the textbook.


Edison received only three months of formal education, and his educational level was not high. Although he had amazing creativity, he lacked mathematical knowledge and insight into complex theories. He is good at trial and error through a lot of experiments, but not at theoretical summary.

 

Tesla once commented on Edison: "His way is the most inefficient, just like looking for a needle in a haystack, all by luck. With a little theory and calculation, he can save 90% of his labor. "

 

This fundamental difference in concept is also an important reason why the two parted ways.


Edison was very good at self-marketing. Many of Edison’s inventions are the results of collective labor, but Edison’s name is often seen in the reports.

 

He built his laboratory in Menlo Park, New Jersey into a "world invention factory", and he is the spokesman of the brand.

 

Edison’s company maintains an "arbitrary" production workshop mode, and Edison is in control of what technology and products are used.

 

As shown in the film, Edison in history was also a master of manipulating public opinion. He loves being interviewed and is good at using the media to build momentum for himself.


In order to attack his opponent, he personally compiled a 61-page booklet to tell the lethality of alternating current, and also planned many "death performances".

 

For example, in public, Edison electrocuted dogs, sheep, horses and other animals with alternating current, and even an elephant, and contacted the media for hype, creating a public opinion atmosphere in which alternating current was dangerous and deadly.


More controversially, Edison indirectly promoted the invention and use of the "electric chair" in order to further connect alternating current with "death".

 

Francis Kemler, a "wife killer", became the first prisoner to be executed by the electric chair. The whole process was cruel, and Kemler was electrified three times before he finally died. During the process, his body twitched violently and his muscles were burnt.


The death penalty, which should represent a more Gao Wenming degree, backfired, causing great controversy at that time. Since 1980s, the electric chair has been gradually replaced by poisonous needle injection.

 

No one is perfect, and Edison’s imperfection will not erase his contribution to the development of human science and technology. Let Edison go out of the plane of the textbook and become a living person, which is exactly what War of Electric Power is trying to do.


03 Tesla "Closest to God"

 

Although Edison’s direct opponent in The Battle of Electricity is westinghouse, his feud with another "genius", nikola tesla, is even more legendary.

 

Tesla is an immigrant of Serbian origin. He loved physics and technology since he was a child. He once regarded Edison as an idol and was even more proud of being able to enter Edison’s company.


Nikola tesla (historical data map)

 

In 1884, 28-year-old Tesla traveled across the ocean to new york, USA, with a letter of recommendation from his former employer to Edison, which wrote: "I know there are two great people, you (Edison) are one of them, and the other is this young man."


However, after really starting work, Tesla gradually discovered the huge differences between the two.

 

Edison promised that Tesla would get a $50,000 bonus after transforming the DC generator, but when Tesla asked for the cash, Edison replied coldly: "You don’t understand our American humor."


Tesla in the movie (nicholas hoult)

 

It can be said that both of them are incompatible in character and concept. Tesla is aloof and arrogant, pursuing fashion, and hates Edison’s untidiness.

 

Tesla pays attention to theory and thinks that Edison’s "trial and error" is a waste of time, while Edison believes in practice and in turn accuses Tesla of being an unrealistic "scientific poet".

 

More crucially, Tesla firmly believes that alternating current is the future and is obsessed with turning the alternating current generator in his mind into reality, while Edison is dismissive of it.


In less than a year, Tesla parted ways with Edison. After unemployment, Tesla once dug ditches for his livelihood and failed to start a business. Thanks to the support of westinghouse, his dream finally came true.

 

In addition to the AC system, Tesla has also done research in wireless communication, solar engines, radar systems, robots and other fields, and many discoveries and inventions have surpassed the scientific and technological eras at that time.


After Tesla’s death, the FBI confiscated all his design drawings and experimental works, and all kinds of rumors about his "super power" added mystery.


 Nikola tesla (historical data map)


Among the three, Tesla seems to be the most "like" scientist. He not only has a superior IQ, but also has all kinds of anecdotes and quirks of Frankenstein.

 

He has obtained nearly a thousand patents in his life, but he has been living in poverty and in debt. He never married, and finally died alone in Room 3327 of the New Yorker Hotel.

 

Tesla once said: "Electricity has injected the most precious things into my tired and weak body-the vitality of life and the vitality of spirit."

 Nikola tesla (historical data map)

 

On July 1st, 2003, martin eberhard and Mark Tapenning named the company "Tesla Motors" to commemorate the idol nikola tesla, which also made the name deeply rooted in people’s hearts in another form.


04 Low-key founder of Westinghouse


Compared with Edison’s household name and Tesla’s legend, westinghouse is the most low-key one.

 

In 1869, westinghouse Electric Company (Westinghouse Electric Company) was formally established, and gradually recruited professionals to start the research on alternating current.


George Westinghouse (historical data map)

 

Westinghouse is more willing to be the manager behind the great inventions than the inventor who shows off the limelight. He is good at exerting personality charm and management talent, attracting talents from all walks of life and making the best use of them.

 

These "geniuses" include Tesla. Tesla called himself a "perfect cooperation" with westinghouse, because he was better than theory, while westinghouse knew how to put these crazy ideas and abstract theories into practice and turn them into products.


Stills of "Battle of Electricity"

Westinghouse and Edison are like two sides of a coin. The former never refuses to interview and hates taking pictures. Before his death, he destroyed all his personal documents, hoping that future generations would know himself through his inventions and deeds.

 

In 1911, the American Society of Electrical Engineers awarded westinghouse the highest honor. Interestingly, this medal was named after Edison.


Stills of "Battle of Electricity"

At the end of the film, at the Chicago World Expo, westinghouse and Edison, the old enemies, completed the "Meeting of the Century".


Edison recalled the excitement when he first experimented with a light bulb that could work continuously for 13.5 hours: it was not someone’s success, but a collective leap of human civilization.


Stills of "Battle of Electricity"

Just like the "Great Harmony in the World" written by calligraphers in the China booth beside them, this "war" is a cruel commercial competition, but the greatest creativity is constantly generate in the conflict. This is of more profound significance to this extremely divided society.


Finally, the director uses Tesla, played by Nizi, to tell the main idea of the film: "Rock will shatter, paper will be brittle, bones will turn into powder, and only those immaterial thoughts will run through ancient times and become eternal. Those are the treasures we should leave behind. It is also the power for human beings to move forward. "


Notice of the General Office of Hunan Provincial People’s Government on Printing and Distributing the Interim Measures for the Construction and Operation Management of Electric Vehicle Charging Infras

About the General Office of Hunan Provincial People’s Government

Issued the "Construction of Charging Infrastructure for Electric Vehicles in Hunan Province"

Notice of the Interim Measures for Operation and Management

Hunan zhengban made [2016] No.59

HNPR—2016—01055

 

The people’s governments of cities, counties and cities, the provincial government departments and commissions, and the directly affiliated institutions:

  The Interim Measures for the Construction and Operation Management of Electric Vehicle Charging Infrastructure in Hunan Province have been agreed by the provincial people’s government and are hereby printed and distributed to you. Please conscientiously implement them according to the actual situation.

 

 

  General Office of Hunan Provincial People’s Government   

  August 12, 2016 

 

Charging Infrastructure of Electric Vehicles in Hunan Province

Interim Measures for the Administration of Construction and Operation

 

Chapter I General Principles

 

  the first In order to speed up the construction of electric vehicle charging infrastructure and standardize the construction and operation management of electric vehicle charging facilities in the province, these Interim Measures are formulated according to the spirit of Guiding Opinions of the General Office of the State Council on Accelerating the Construction of Electric Vehicle Charging Infrastructure (No.73 [2015] of the State Council).

  the second The charging infrastructure of electric vehicles as mentioned in these Measures (hereinafter referred to as charging facilities) includes intelligent charging service platforms, centralized charging and replacing power stations and decentralized charging piles, which are mainly divided into four categories:

  1. Self-use charging facilities. Refers to the self-use vehicle charging facilities built in fixed parking spaces owned by individuals or leased for a long time (more than one year).

  2. Dedicated charging facilities. Refers to the special charging facilities for public service vehicles or units (employees) vehicles built in the exclusive parking lots (spaces) of government agencies and social organizations.

  3. Public charging facilities. Refers to the public charging facilities for social vehicles built in independent plots, social public parking lots, public parking lots in residential quarters, parking lots equipped with commercial buildings, public road parking lots, gas stations, expressway service areas, airports and other areas within the planning.

  4. Centralized charging station with independent land occupation. Refers to the charging infrastructure that is not combined with public parking lots and building parking lots, and occupies an independent area and meets the land use planning. A centralized charging station shall have no less than 3 charging piles, and the spacing between piles shall be no more than 10m.

  Article Based on the principle of "meeting needs, saving resources, and being moderately ahead of schedule" and the requirements of "adapting measures to local conditions, helping each other quickly and economically", the implementation will be promoted as a whole after it is easy.

 

Chapter II Planning and Construction

 

  Article 4 The Provincial Development and Reform Commission (Provincial Energy Bureau) organized and compiled the development plan of electric vehicle charging infrastructure in the province according to the overall plan of national economic and social development and the promotion and application plan of new energy vehicles in the province, and announced it to the public.

  Municipal Development and Reform Commission (Energy Bureau) in conjunction with the urban and rural planning departments in accordance with the province’s electric vehicle charging infrastructure development planning to organize the preparation of the administrative region of the electric vehicle charging infrastructure development special planning, and announced to the public. The special plan shall specify the layout of the charging infrastructure covering an independent area, put forward the construction ratio of charging facilities in parking lots and social public parking lots of various buildings or the requirements for reserved construction and installation conditions, and incorporate them into the regulatory detailed planning of cities and counties. Among them, the party and government organs and other public institutions office parking lot in accordance with the proportion of not less than 20% of the number of parking spaces with charging facilities or reserved construction and installation conditions. Parking lots for large public buildings and social public parking lots shall be equipped with charging facilities or reserved construction and installation conditions according to the proportion of not less than 20% of the number of parking spaces. Unit parking lots and commercial parking lots with a scale of 100 or more parking spaces shall be equipped with charging facilities at a ratio of not less than 10% of the number of parking spaces. 100% of newly-built residential parking spaces are equipped with charging facilities or reserved construction and installation conditions.

  Article 5 The construction unit of charging facilities must have the qualification of power facilities contracting (repairing and testing) or general contracting qualification of power engineering construction.

  Article 6 The installation and design of charging facilities shall conform to the unified national and industrial standards, and comply with the relevant provisions on planning, construction, environmental protection, power supply, fire protection and lightning protection.

  Article 7 For charging facilities investment construction projects, in principle, government-funded projects shall go through the examination and approval procedures, and other projects shall go through the filing procedures in accordance with relevant regulations, as a precondition for applying to the power supply department for installation. The provincial development and reform commission (provincial energy bureau) is responsible for the examination and approval of the new or expanded charging and replacing power station project of expressway. Other charging and replacing power station projects shall be examined and approved by the Municipal Development and Reform Commission (Energy Bureau) and reported to the Provincial Development and Reform Commission (Provincial Energy Bureau) for the record. Decentralized charging pile projects in public areas shall be examined and approved (put on record) by the county development and reform bureau, and reported to the municipal development and reform commission (Energy Bureau) for the record, and the municipal development and reform commission (Energy Bureau) shall report to the provincial development and reform commission (Provincial Energy Bureau) for the record. Residents in non-public areas who use two or less charging piles directly apply to the power supply department for installation. After the construction is completed, the power supply department will make a unified summary and report it to the local county and urban development and reform departments for the record. The local county and urban development and reform departments will report it to the provincial development and reform commission (Provincial Energy Bureau) for the record every quarter.

  Article 8 All residential areas and units need not apply for construction land planning permit, construction project planning permit and construction permit if they install charging facilities in existing parking spaces and personal garages and parking spaces. When building urban public parking lots (buildings), there is no need to separately apply for construction project planning permits and construction permits for the simultaneous construction of charging infrastructure such as charging piles. The newly-built centralized charging and replacing power station with independent land occupation should conform to the urban planning, and handle the construction land planning permit, construction project planning permit and construction permit.

  Article 9 Power grid enterprises are responsible for the construction, operation and maintenance of the supporting network connection project from the property right demarcation point of charging facilities to the power grid. For low-voltage projects and 10 kV projects, the construction period shall not exceed 10 and 60 working days respectively from the date when the power supply scheme is answered; For power grid access limited projects, the rectification time limit of power grid limited equipment, since the date of power supply plan reply, low-voltage projects and 10 kV projects will be completed within 10 working days and 120 working days respectively; For the project stagnation caused by government approval and policy treatment, it is not included in the calculation time limit. The network connection project shall not charge the network connection fee, and the corresponding assets shall be fully included in the effective assets of the power grid enterprise after completing the approval procedures for supporting the new or expanded distribution network project, and the cost shall be included in the allowable cost according to the facts.

  Article 10 After the completion of the approved charging facilities, acceptance, testing and debugging should be carried out in accordance with the relevant provisions of the state, and the charging facilities can be put into operation only after they are qualified to access the public service management platform of the province.

  Article 11 If the owner of the charging facility is changed or permanently abolished, the original owner shall report it to the examination and approval department and the power grid enterprise within 10 working days.

 

Chapter III Operation and Service

 

  Article 12 Charging facilities operating units shall meet the following access qualifications:

  (a) registered by the administrative department for industry and commerce in the province, and its business scope includes the operation of new energy vehicle charging facilities;

  (2) Having more than five full-time technicians in the charging related fields of new energy vehicles. In principle, the ratio of the number of full-time technicians to the number of operating charging piles is not less than 1: 20;

  Article 13 Operating conditions of charging facility operating unit:

  (a) charging facilities operating enterprises have access to the basic qualifications, to the provincial development and Reform Commission (Provincial Energy Bureau) to submit a registration form for the record registration;

  (II) The Provincial Development and Reform Commission (Provincial Energy Bureau) will publicize the charging facilities operating enterprises to the public in two batches in the second and fourth quarters of each year through the website, and will be included in the catalogue of electric vehicle charging facilities operating service providers after the expiration of the publicity period without objection, and implement dynamic management.

  (three) docking with the province’s electric vehicle charging infrastructure public service management platform.

  Article 14 Charging facility operators need to upgrade charging facilities in time according to the latest technical standards, and report true and accurate data information to the development and reform (energy), statistics and other departments in accordance with regulations.

  Article 15 Charging facilities operating sites must be equipped with complete charging facilities identification signs and safety fire control facilities according to national unified standards. Relevant departments should cooperate with the setting of surrounding road signs and provide clear guidance.

  Article 16 The electricity consumption of the operating centralized charging and replacing facilities that directly report to the power grid enterprises must be metered separately, and the price of large-scale industrial electricity consumption shall be implemented. Before 2020, the basic electricity fee shall be temporarily exempted, and other charging facilities shall be classified according to their places.

  Article 17 Charging facilities operating enterprises can charge users charging service fees, charging service fees charged by the provincial development and Reform Commission approved.

  Article 18 Charging facilities operating enterprises charge fees in strict accordance with the approved price, clearly mark the price in a prominent position in the business premises, and support UnionPay cards, mobile payment and other payment methods.

 

Chapter IV Supervision and Management

 

  Article 19 The development and reform (energy) department takes the lead in building and managing the public service platform for charging facilities, formulates and implements the annual construction plan for charging facilities, and promotes the construction of charging facilities as a whole.

  Article 20 The letter department is responsible for organizing the formulation of provincial new energy vehicle industry development plans and policies and measures, and relying on the joint conference system for the promotion and application of new energy vehicles in the province to promote the coordinated development of new energy vehicles and charging infrastructure in an orderly manner.

  Article 21 The financial department is responsible for the implementation of the financial award and compensation funds for electric vehicle charging facilities, clarifying the award and compensation standards and scope, and supervising the use of award and compensation funds.

  Article 22 The science and technology department is responsible for organizing and promoting the popularization and application of charging facilities and technological innovation in industrial development.

  Article 23 The housing and urban-rural construction department is responsible for the supervision and review of the allocation of charging facilities for new and expanded buildings.

  Article 24 The safety supervision department is responsible for the comprehensive supervision, guidance and coordination of the energy department to strengthen the safety supervision of the daily operation of charging facilities production and service enterprises.

  Article 25 The quality and technical supervision department is responsible for the measurement, quality supervision and management of charging facilities.

  Article 26 The public security fire department is responsible for strengthening the fire safety management of charging facilities.

  Article 27 The land and resources department is responsible for the land security of new construction, renovation and expansion of charging facilities.

  Article 28 The administrative department of government affairs is responsible for coordinating and promoting the construction of charging facilities in the office space of party and government organs and other public institutions.

  Article 29 The people’s governments of cities, counties and cities are responsible for coordinating and promoting the construction of electric vehicle charging facilities within their respective jurisdictions, establishing relevant working mechanisms, and creating a good environment for the construction of charging facilities.

  Article 30 Relevant departments at all levels shall, in accordance with their respective responsibilities, cooperate to establish a charging infrastructure safety management and operation service system to support the standardized and orderly construction and safe operation of charging facilities.

  Article 31 Establish a supervision mechanism for charging infrastructure construction, and the development and reform (energy) department will keep abreast of the dynamics of charging infrastructure construction, strengthen guidance and coordination, and timely supervise and inspect.

  Article 32 Strengthen the safety supervision of charging facilities, strengthen the daily safety inspection and management of charging infrastructure and its installation sites, and eliminate potential safety hazards in time.

  Article 33 Charging infrastructure construction and operation enterprises that violate relevant national laws and regulations shall be punished in accordance with relevant regulations. If the circumstances are serious, the enterprise will be included in the blacklist of the charging infrastructure construction and operation market, and the relevant personnel will be held accountable according to the law.

  

International high-end management talent exchange and cooperation forum

  First, the overall design

  Activity name: China (Henan) Pilot Free Trade Zone International High-end Management Talent Exchange and Cooperation Forum (hereinafter referred to as "Free Trade Zone High-end Talent Forum").

  Theme of the event: Carry forward the spirit of Henan merchants in the new era and create a high-quality open highland.

  Activity time: October 26th from 14: 30 to 18: 00.

  Venue: Hall 3, Zhongyuan Grand Ballroom, Sheraton Meisheng Hotel

  Activity scale: 200 people

  Organizer: Henan Provincial Department of Commerce and Henan Pilot Free Trade Zone Work Office.

  Co-organizer: Administrative Committee of Zhengzhou, Kaifeng and Luoyang in Henan Pilot Free Trade Zone

  Second, the participants

  Provincial government leaders; Responsible comrades of leading group member units; Director, deputy director and relevant personnel of Zhengzhou, Kaifeng and Luoyang administrative committees of Henan Pilot Free Trade Zone; Representatives of district enterprises; News media.

  Invite well-known Henan entrepreneurs and senior executives of financial institutions at home and abroad, representatives of other influential enterprises and innovation and entrepreneurship projects at home and abroad, and representatives of experts, scholars and high-level talents at home and abroad to attend the meeting.

  III. Agenda

  Moderator: To be determined

  The first session is from 14: 30 to 16: 00: Main Forum.

  The first agenda: broadcast the propaganda film of Henan Pilot Free Trade Zone (10 minutes);

  The second agenda: Speech by the leaders of Henan Province (6 minutes);

  The third agenda: Zhang Yanming, Director of the Henan Provincial Department of Commerce, introduces the free trade zone and publishes the policy advantages of talent projects (10 minutes);

  The fourth agenda: Introduce the policies for attracting talents (projects) and policies for attracting talents, and release the demand for key talents (projects) (24 minutes);

  The fifth agenda: speeches by domestic and foreign experts and scholars, Henan entrepreneurs and financial executives (3, 10 minutes each);

  Agenda 6: On-site signing (10 minutes);

  Adjust the venue of the rostrum and place the sofa (5 minutes);

  The second session: 16:05-18:00: Two rounds of live dialogue sessions.

  Moderator: Chen Kaijie, member of the Party Group of the Provincial Department of Commerce and deputy director of the Free Trade Office.

  16:05-17:00 Henan businessmen do business after their return to China.

  17:05-18:00 Financial elites talk about free trade.

  The third link on October 27th, 09:00-12:00.

  Investigation and investigation in Zhengzhou area

  Fourth, the venue design

  The venue covers an area of 500 square meters.

  1. The main background board is a 7X3.5 HD LED screen. The propaganda film "Welcome to Open Henan" was broadcast before the event, and the cultural and trade industry matchmaking fair in Henan Pilot Free Trade Zone was displayed during the event. When presenting and speaking, display PPT synchronously.

  2. The podium is equipped with a podium, a desktop microphone and a wireless microphone.

  3. The first two rows of the seats are desk-shaped, with seat tags. The first row is the provincial leaders, department leaders and important guests, and the second row is the leaders and speakers who came to the stage to promote. The third row is arranged in a theater style, with about 200 seats.

  4. Media seats: Media seats will be set up behind the participants for the use of participating news media reporters.

27 old men are happy to cheat 6.6 billion? This is the most wonderful melon made by PPT this year.

   [Pacific Auto Network] There have been countless people teasing: the easiest way to make money is written in criminal law. Ordinary people steal at most, but some people with high intelligence and high education can be "empty gloves and white wolves" with a smart shake, and they still have hundreds of millions of state-owned assets.

  Such people are not uncommon in the automobile circle. The most famous ones are Jia Yueting, the godfather of PPT, and Pang Qingnian, who can run with water. Now there is another Wang Xiaolin, who has built a car for three years and sold a total of 27 old electric cars, thus defrauding 6.6 billion yuan.

  This big melon has been big enough to attract the name of CCTV’s father and made a "Automobile fund puzzle"The field report:

  The incident broke out in April this year. Qiao Yudong, a former legal employee of Sailin Automobile, reported Wang Xiaolin, the chairman of Sailin Automobile, with his real name, sayingThe shareholders of four foreign-funded enterprises in Jiangsu Sailin, which they actually control, acquired Jiangsu Sailin shares at a price of 6.6 billion yuan with "false technology investment".

  As the incident continued to ferment, Jiangsu Province also took action. The Nantong Intermediate People’s Court first seized two factories, 144 apartments and Shanghai branch in Jiangsu Sailin Rugao; Then the Rugao Economic and Technological Development Zone Management CommitteeCriminal investigation by Wang Xiaolin and others.

Sailin Automobile and Rugao, Jiangsu established SR Automobile Strategy Research Center.

To find out why the incident happened, we should first briefly understand its shareholding structure:

  Sailin Automobile, Jiangsu Sailin, has a registered capital of 10 billion yuan, of which Nantong Jiahe, a state-owned enterprise, holds 34% of the shares and contributes 3,341.87 million yuan in cash.

  The four foreign-funded companies actually controlled by Wang Xiaolin invested with intellectual property rights, holding a total of about 66.58% of the shares, that is, Wang Xiaolin obtained the control of Sailin without paying a penny.

  Among them, the legal persons of Rugao Salin, Nantong Shimai and Nantong Weimeng among the four foreign-funded companies are Wang Xiaolin’s wife Cong Chao, and all four companies are affiliated to Zifu Holdings held by Wang Xiaolin.

  The legal representative of Rugao Jitai is Xu Yin, Wang Xiaolin’s beauty assistant, and the company belongs to Weimeng Industrial Group held by Wang Xiaolin.

  In fact, these four foreign-funded companies have all paid 0 people for the five insurances, that is, they are "shell companies" in the conventional sense.

The second focus is on the so-called intellectual property rights.Overvalued:

  The intellectual property rights provided by Wang Xiaolin for Sailin Automobile include "Jitai ··MyCar"Model with a valuation of 1,106.92 million yuan;

  In addition, there areThree models,Derived from Saleen Motors International LLC (SMI) established by Wang Xiaolin, with a valuation of 1,880.42 million yuan, 1,894.52 million yuan and 1,776.27 million yuan respectively.

  In fact, these technologies are not directly related to Xilin in the United States.

  Because Steve Saleen’s American Saleen Automibile Inc (SAI for short) doesn’t actually have low-speed electric cars or SUVs, it mainly does super-running modification in recent years. Before that, it independently developed the famous super-running.

Sailin S7

  If the above allegations are true, Wang Xiaolin’s routine is to use "shell company" and "old man music technology" to embezzle billions of state-owned assets. Then where did all this money go? Sneaked it to someone close to you.

  People familiar with the matter pointed out that Wang Xiaolin had a number of false and related transactions with his wife Cong Chao and Steve Sailin, suspected of transferring interests and misappropriating company assets.

However, this melon has not reached the climax yet, after all, the man has not responded yet.

  Wang Xiaolin responded through a circle of friends on July 3rd, claiming that he was falsely accused and framed by Nantong Jiahe. Between the lines, it can make people make up a drama without urine spots:

  For example, Nantong Jiahe "illegally detained German executives", "directed and performed shareholder farce", "stuffed into the gap between China and the United States" and "this case will definitely be written into textbooks" … …

  Finally, Wang Xiaolin said forcefully that he should go back to his old job: lawyer+law professor!

  Today, things have evolved into a "Rashomon" between smart businessmen and the government. So, I dare say this is the most wonderful melon of the year.

  In fact, Wang Xiaolin is not only a lawyer, a professor and a businessman, but also a doctor returning from overseas, The Wolf of Wall Street, a racing enthusiast with an American racing license, a lover of ancient poetry translation and a cigar lover … …

  Well, this is the reality of the rich and talented, high IQ, high EQ and high education.

● Dream of making a car germinates.

  It took Wang Xiaolin more than 30 years to become such a overbearing president.

  He graduated from Hunan Xiangtan University Law School in 1989, worked as a court clerk for two years, and then went to the United States, where he studied at Ohio University and Duke University.

  Since then, he has worked as a lawyer on Wall Street, worked in auto finance, and is said to have done listing consultation for more than 100 auto-related enterprises.

  During this period, he met many Chinese and American political and business leaders, among whom the most like-minded is the retreat of the automobile rivers and lakes, and it was also from then on that the small goal of building a car was born.

  In 2007, Yang Rong and Wang Xiaolin appreciate each other, who want to restart their dream of building a car in the United States, plan to start a car-building project. Yang Rong is responsible for paying, and Wang Xiaolin is responsible for financing and commercial operation. However, a year later, Yang Rong’s funds were delayed, and Wang Xiaolin could only "tear his face" with him, and even started a lawsuit and finally settled.

● Build your own car in the United States.

  Since then, Wang Xiaolin started to go his own way, and established GreenTech Automotive Corp (GTA for short) in the United States, a company dedicated to developing, producing and selling energy-saving and environmentally-friendly cars.

  When the company was founded, it was also controversial, because the source of funds came from the funds of overseas investment immigrants, that is, EB-5 for short.

  This bucket of gold let Wang Xiaolin knock into the door of building a car.

  In 2009, Wang Xiaolin bought a low-speed electric vehicle company in Hong Kong — — Hong Kong Power Automobile Company pocketed the latter’s MyCar technology, that is, the aforementioned intellectual property with a price of 1.1 billion yuan and used as a shareholding — — Jitai Maimai ·MyCar. (Dr. Wang is really an expert in making money.)

  In the following years of 2010, Wang Xiaolin began to go back to China to collect gold, and the cooperation projects with automobile design enterprises Tongji Tongjie and Ordos local government all ended in failure.

  In 2015, it happened that Steve Sailin’s Sailin car was close to bankruptcy, and Sailin S7, S7R and other intellectual property rights and all remaining assets were sold. Wang Xiaolin saw the right time again and shouted three words "Buy in buy buy".

● Return to China for gold.

  Wang Xiaolin’s dream of building a car finally found a foothold in China, relying on the American super-running "technology" and the gold medal eloquence of a three-inch golden tongue.

  In 2017, Sailin Automobile entered Rugao, Jiangsu Province, and later built two factories. The first factory has an annual output of 150,000 vehicles, and is used to put into production SUVs, as well as flexible production lines for cars and supermodels; The second plant is expected to put into production 50,000 Maimai vehicles and 20,000 S1 vehicles.

  Then, in July 2019, a brand launch conference with Wu Yifan+Jason Statham+Hua Shao descended into the Bird’s Nest, and people began to watch the brand Sailin.

  The three entertainment circles/car circles bring the goods with the brand-new Le Mans version of Sailin S7, the national super-run, the super-run SUV Sailin Maike and the city electric sports car Maimai.

  The communication effect is there, but it is followed by overwhelming abuse.

  Some people say that it is unrealistic to spend 200 million on marketing expenses. Some people say that this is a clear way to fool investors with a master-class super-run and low-cost "old man music".

  With a bad name, Sai Lin launched Maimai in November of the same year, which is the only model that has been put on the shelves at present, and only 27 vehicles have been sold so far.

  The above is Sai Lin’s short road to building a car.

  About "Is Wang Xiaolin a huge scam?" In fact, this question is quite useless. After all, all public opinions have given consistent affirmative answers. However, because the incident is still in the investigation stage, the relevant departments only use the words "suspected" to describe the incident.

  Wang Xiaolin himself also defended himself by "throwing the pot" Qiao Yudong and Nantong Jiahe, and at the same time tried to smash the gossip with all his strength.

  For example, "We are serious about making cars", "It’s not that I don’t want to go back to China, and I have no reason to say that I want to stay in the United States." "Anyone who sees what we do, the cars we make and the factories we build will know that we are making cars in a down-to-earth manner."

  Indeed, Sai Lin’s car was built, but it was not "serious" and "down-to-earth". There is a big question mark here.

  Let’s take a look at how serious new forces build cars. It took only three or four years to develop the first production car, and it took four years to go public in the United States. Li Bin, the founder, lost his fortune and went around looking for investment. In the eyes of employees, he aged at a speed visible to the naked eye.

  Although the monthly delivery volume of Weilai is only a few thousand units at present, Li Bin, as the representative of the new car-making force, is still in love.

?Let’s look at how Sai Lin built a car.

  The first mass-produced model, Maimai, is priced at 158.8-168.8 million yuan after subsidy. A small electric car with a battery life of only 305km can’t see any sincerity from the pricing alone.

  Two months later, Maimai was taken off the shelves for no reason. So far, there are only 27 vehicles in the country, including 20 vehicles sold in 2019 and 7 vehicles sold in 2020.

  The second "Maike" originally planned to be launched claims that the new car will have 406 horsepower and 450 Nm. In October 2019, the website showed the declaration information of the car, which came from the 2.0T engine, and the maximum was only 224PS.

  As for Sailin S7, it was just a runaway n years ago, and it was only used to support the scene at most.

Another question is, where does the most scarce production qualification come from as a new force to build cars?

  We turned out the declaration information of Maimai and Mike from the website of the Ministry of Industry and Information Technology, both of which showed that the manufacturer was "Jinhua youth automobile manufacturing co., ltd"On the left side of the rear, a conspicuous" Youth Car "logo was affixed. Yes, that’s right. It’s the "youth car that can run with water".

  However, Maimai, which we have seen in the market, can no longer see the logo of "Maimai". According to the Measures for the Administration of External Labeling of Automobile Products of the National Development and Reform Commission, domestic cars should be marked with the name of the automobile manufacturer, trade mark and model name at the rear. So where did the sign of "Youth Car" go?

  It is rumoured that it was Pang Qingnian, the chairman of Youth Automobile, who "led the bridge and built the line", and Wang Xiaolin’s Sailin automobile finally chose to land in Rugao, Jiangsu. Now that the youth car has filed for bankruptcy, plus the cool Sailin and the land ark that once had land disputes, it is conceivable how big the shadow area of Rugao, Jiangsu Province is. Will there be any mistakes or improper review in attracting investment?

  Undoubtedly, this is a wake-up call for all local governments to prevent fire, theft and fraud in the future.

  Even without this epidemic this year, those who should have collapsed will still collapse, and Mr. Nan Guo, who is just making up the rest, will eventually be found out.

  In April, Lu Qun, the chairman of the board of directors, was restricted from high consumption due to the annual loss of several hundred million yuan in the future car.

  In mid-June, the founder of Bo County issued a statement on operational difficulties.

  At the end of June, Baiteng announced a complete shutdown.

  There will be more and more similar news, but it is a pity that the real money that has been squandered, Dr. Jia Accountant Wang is still living happily in the United States, and those who make cars seriously are still struggling. (Text: Pacific Auto Network Zeng Huijun)

 

Net exposure bruch joined Captain America: Civil War to play the villain Baron Zemo

"Fast Love" actor Daniel Bruhl or join Captain America: Civil War


    1905 movie network news Foreign media have recently exposed the progress of Marvel Comics’s work. The reporter not only revealed that the film will be filmed in Atlanta and Georgia in April, but also claimed that Captain America: Civil War’s villain is "Baron Zemo" and actor Daniel Bruhl will join in.

    "Baron Zemo" Heinrich was one of the top scientists in Nazi. Later, he was forced to wear a mask to hide himself because of the global wanted. Later, he was accidentally hurt by the "super glue" he developed in the battle with "Captain America". Not only was his face disfigured, but his mask was completely glued and could not be taken off. Therefore, Heinrich became enemies with "Captain America" and he died in a landslide.

    The second generation of "Baron Zemo" is the son of Heinrich. He was disfigured by "super glue" in the process of attacking "Captain America" and also needed to wear a mask. Although there have been rumors that Daniel Bruhl will join Captain America: Civil War, the news has not been officially confirmed by Marvel Comics, so fans need to wait patiently. In addition, the synopsis of Captain America: Civil War’s plot has also been exposed.

    "In the Captain America: Civil War, billionaire Tony Stark and the captain are tit for tat. They have different opinions on the superhero registration bill issued by the US government, which requires all people with super powers to report to SHIELD and register with the government."

    According to foreign media reports, Captain America: Civil War will shoot from April 4th to August 8th, and the film will be released in North America on May 6th, 2016. Chris Evans, Robert Downey Jr. and other actors will return to play.

British primary school mathematics education draws lessons from China and introduces Shanghai teachers and textbooks.

  The picture shows British primary school students in class. Bright pictures/vision china

  The picture shows a set of textbooks "Real Shanghai Mathematics". Information picture

  The picture shows a primary school math teacher from Shanghai teaching in Britain. Information picture

  The picture shows two British primary school math teachers who went to China to learn Buddhist scriptures taking photos with China students. Information picture

  [Window of World Education]

  Many children from China who come to school in Britain will inevitably be at a certain disadvantage in language at the beginning, but it is not difficult for them to find that they also have a great advantage that British children envy, that is, their math level. Anyone who is familiar with British education knows that children from China are often among the best in mathematics in primary school classes in Britain.

  In recent years, in order to improve the mathematics level of primary school students, the British government has begun to look to China, hoping that Chinese’s "magic" mathematics education method can solve the "persistent problem" that English children’s mathematics scores are not ideal. Following the promotion of "Shanghai Mathematics Teaching Method" in primary schools in England from the second half of 2016, the UK is actively introducing mathematics textbooks for primary school students in Shanghai. A set of textbooks named "Real Shanghai Mathematics" will be published in the UK at the end of this year and early next year, and will enter the primary school classroom in the UK at the beginning of next year.

  1. Thirty-six volumes of China textbooks help British primary school mathematics education.

  As early as the first half of this year, some British media have reported that the textbook "Real Shanghai Mathematics" is about to enter the UK, but there are different opinions about when this textbook will be put into use. Recently, the reporter saw from official website, the British Collins Learning Publishing House, which is responsible for introducing this set of teaching materials, that this set of teaching materials is divided into teachers’ books, students’ books and students’ workbooks, with a total of 36 volumes, which will be published one after another from the end of November this year to the end of January next year. The reporter also saw on some websites in the UK that these textbooks can now be booked online. It is reported that at the beginning of next year, these textbooks will officially enter the classrooms of some primary schools in Britain.

  "Real Shanghai Mathematics" has been translated into English almost word for word from Shanghai primary school mathematics textbooks, with one rare minor change: the RMB symbol in the mathematics topic has been replaced by the pound symbol. According to Fayona McGlade from Harper Collins Publishing Group, a subsidiary of Collins Learning Publishing House, Shanghai’s mathematics textbooks are "excellent" and "need no improvement".

  At present, there has been a special introduction about "Real Shanghai Mathematics" in official website, Collins Learning Publishing House. According to the publishing house, "Real Shanghai Mathematics" is a set of mathematics courses for primary school students from grade one to grade six, with high-quality textbooks as the core. These immersive educational resources, translated from the best-selling mathematics course in Shanghai, will enable every student to master mathematics knowledge and develop their infinite potential. "

  At the 2017 London Book Fair held in March this year, Harper Collins Publishing Group signed an agreement with Shanghai Century Publishing Group to translate and publish the mathematics textbooks for basic education in Shanghai. Colin Hughes of Collins Learning Press called the signing of the agreement "a historic moment". Hughes said, "As far as I know, textbooks written for China students will be translated and used by British schools. This has never happened." He said that the move "aims to improve the quality of mathematics education in Britain by adopting the method of making Shanghai a world leader in mathematics education." He said that compared with the current textbooks in Britain, the original Chinese textbooks are "much more demanding".

  The entry of Shanghai mathematics textbooks into Britain has attracted the attention of many western media, including American and British media. For example, in August, the website of The New York Times reported on this matter with the title "Britain turned to China for help in improving its math scores". The British newspaper The Guardian described this textbook cooperation between Chinese and British publishers as a "historic agreement". According to The Guardian, China’s developed cities, such as Beijing and Shanghai, have trained the world’s top pupils in mathematics, while British students are far behind their Asian peers.

  It is reported that this is not the first time that Harper Collins Publishing Group has introduced China mathematics textbooks. In 2015, the publishing house translated and published the mathematics textbook "One Lesson and One Practice" for primary schools in China. Ms. Fayona McGlade told the media that this textbook has received very good feedback from British teachers and students.

  2. 8,000 primary schools learn the "Shanghai be adept at Teaching Model".

  The introduction of Shanghai mathematics textbooks is the latest step for Britain to learn China’s mathematics teaching experience in an all-round way. In July 2016, Nick Gibb, Secretary of State of the British Ministry of Education, announced that Britain would invest 41 million pounds to implement the "Shanghai Mathematics Teaching Method" in 8,000 primary schools. He said: "We will witness the revival of mathematics education in our country. In the past, we heard too many British people say ‘ Can’t count ’ This will become history. "

  Britain decided to introduce "Shanghai Mathematics Teaching Method" because of the results of two Pisa (Program for International Student Assessment) tests. PISA is an evaluation test of the learning level of 15-year-old students all over the world, which is planned by the Organization for Economic Cooperation and Development. In 2009 and 2012, 15-year-old students from more than 70 countries and cities, including Britain and China, took the test twice. The first test takes reading as the main test, mathematics as the auxiliary test, and the second test takes mathematics as the main test. In the results of the two tests, Shanghai students ranked first, while British students performed poorly. The test results show that English students of the same age are three years behind Shanghai students in mathematics.

  In addition, some international tests in recent years also show that compared with some Southeast Asian countries, the proportion of 15-year-old students in Britain who don’t understand basic operations is more than 10%.

  Chinese, who lives in Britain, will find that the British people’s mental arithmetic ability is weak. Take a simple example: a bill of 8.5 pounds. If you pay 10.5 pounds, the waiter sometimes can’t respond. Speaking of the mental arithmetic ability of the British people, it is often mentioned that former Prime Minister David Cameron was asked by reporters how much 9 times 8 equals, but he could not answer the result. In English schools, many formulas don’t need to be remembered, and sometimes you can bring a calculator to the exam.

  Before deciding to promote the "Shanghai Mathematics Teaching Method", Britain made a long-term and scientific evaluation. In 2014, Britain started the "Sino-British Mathematics Teacher Exchange Project" and entrusted sheffield hallam university to conduct a third-party follow-up evaluation of the project. In 2016, sheffield hallam university published the Research Report on the Sino-British Mathematics Teacher Exchange Program, which spoke highly of Shanghai’s mathematics education and named Shanghai’s mathematics teaching model "Shanghai be adept at Approach".

  Nick Gibb said that English people often say "can’t count" and think that mathematics is too difficult to learn, which has even become an ethos in British society. Under the influence of this ethos, many British people think that math is not good, which is not a shameful thing. In Nick Gibb’s view, promoting the "Shanghai be adept at Teaching Model" will help "ensure that young people can prepare for their study and work in the 21st century".

  3. Pay attention to the consistency and depth of Shanghai’s teaching model.

  When talking about the difference between Shanghai’s mathematics teaching mode and Britain’s, Andres Schleicher, head of PISA, said, "Our data show that few British students think British mathematics education is interesting and creative, and the number of young people choosing mathematics as a career has been declining, especially women. PISA shows that English mathematics education uses a lot of applied problems, that is, simple mathematical operations are implanted in applied problems, and students do repeated simple operations. In contrast, Shanghai’s mathematical methods are more rigorous, dedicated and consistent. Strict, that is, the in-depth understanding of concepts and cognitive needs in Shanghai mathematical law; Focus, that is, Shanghai will go deep into every small problem, while the British method is ‘ A mile wide and a foot deep ’ ; Consistency means that the learning process of Shanghai students is coherent. What surprises us most is that PISA shows that the British teaching method is more rote than Shanghai. "

  When introducing the "Shanghai be adept at Teaching Model", the British newspaper The Guardian said that this model emphasizes "whole class teaching", and each class focuses on teaching a mathematical concept, instead of focusing on the depth of teaching, and the teacher will continue to teach new things until all the students in the class have mastered it. In primary schools in Shanghai, for students who don’t fully understand the course content, teachers often make up lessons on the same day to ensure that these students can be at the same level as the rest of the students before starting to learn new content the next day. British primary school classes are different. Teachers often advance their lectures quickly, regardless of whether the whole class has mastered what they are teaching. In the English classroom, students in a class often have great differences in level, and teachers will give different difficult assignments to students of different levels, ignoring the importance of keeping pace with the learning process of the whole class.

  According to the Guardian, math teachers in Shanghai primary schools are often teaching experts. They specialize in primary school math teaching during their college years, and they only teach math at work. Many people only teach for two hours a day, and the rest of the time is used for summing up, perfecting and improving. In contrast, primary school teachers in Britain are often "general teachers" who are responsible for teaching a variety of different courses.

  Debbi Morgan, director of the primary school mathematics department of the National Center for Excellence in Mathematics Teaching under the British Ministry of Education, was interviewed by our reporter earlier this year on the teaching characteristics of the "Shanghai be adept at Teaching Model". She said that there are several main differences between the Shanghai teaching method and the British teaching method: first, the "small step" teaching method of Shanghai teachers can improve the depth of teaching and students’ fluency in computing, and can take into account students of different levels to ensure their overall progress. Second, the Shanghai teaching method emphasizes the recitation of multiplication formulas, while British students are not good at multiplication and lack fluent computing ability. Third, the difference between "whole class teaching" and "differential teaching". Shanghai teaching method pays attention to the overall teaching and the overall improvement of students’ level, and the teaching scheme is easy to implement, while British teachers are used to dividing students of different levels into different groups, and different groups use different teaching schemes and contents. This is very difficult to manage and easy to cause confusion in teaching.

  4. Shanghai teachers teach experience at the front line.

  Since 2014, Britain has started the "Sino-British math teacher exchange program" with China. The UK sent primary school teachers to Shanghai to study teaching methods, and at the same time, China math teachers also went to British primary schools for exchanges. The "Sino-British math teacher exchange program" is one of the results of the second round of Sino-British high-level exchange mechanism meeting in 2014, and it is also the highlight of the cooperation and exchange between China and Britain in recent years. In November 2014, China sent the first batch of math teachers to the UK, and since then, about 60 teachers have been sent to the UK for exchanges every year.

  The arrival of Shanghai math teachers has benefited both teachers and students in Britain. Many British teachers who have observed the lectures given by teachers in Shanghai think that the "Shanghai Mathematics Teaching Method" is very magical, and they all say that they want to change their original teaching methods and give lectures like teachers in Shanghai. Debbi Morgan, director of the Mathematics Department of the National Center for Excellence in Mathematics Teaching under the British Ministry of Education, said that teachers in China have made extraordinary efforts to teach in English, both in language and in preparing lessons.

  Zhu Guangqin, a teacher from Aiju Primary School in Xuhui District, Shanghai, once visited Parkfield Community Primary School in Birmingham, England. She said that during the exchange, she was in an open class almost every day. She said, "British teachers appreciate our step-by-step approach of focusing on one or two key points in each class." Zhu Guangqin brought multiplication formula to British primary school students. She was a little worried that British children might not adapt, but later found that British students were very interested. Zhu Guangqin was deeply impressed by the teaching exchange experience in Britain. Recently, she proudly told this reporter that before the end of this year, another group of Shanghai math teachers will come to Britain, including colleagues from her own primary school.

  (Reporter Lin Weiguang in the UK)

It’s a saline-alkali dust storm in Beijing, not a sandstorm.

    "Beijing is not a sandstorm, it is a saline-alkali dust storm! Accordingly, sand control should be changed to dust control. " Zheng Baiyu, Secretary General of the Ecological Poverty Alleviation Committee of yenching university Beijing Alumni Association, reported this unique view at the third Sino-Korean seminar on desertification control and grassland protection in 2006.

    Zheng Baiyu has lived in Xilin Gol grassland for many years. After retiring in 1999, he continued to engage in ecological and environmental protection activities in grassland, especially in recent years, he has carried out many years of scientific research and control practice on the harm of saline-alkali dust storms caused by the drying up of Chagannuoer Lake, and has his own unique views on the dust storms.

    The dry Lake Chagannor is the source of dust storms.

    Zheng Baiyu told the Science Times reporter that Chagannuoer Lake with an area of 110 square kilometers is located at the junction of the northern edge of Hunshandake Sandy Land and Xilin Gol Grassland, roughly 600 kilometers north of Beijing. Gogestai River, the source river of Chagannuoer, originates from Hunshandake Sandy Land. In the past two or three decades, the weather has become hotter and drier, and the Gogsitai River has become less and less, and it is often cut off, resulting in the Chagannuoer Salt Lake drying up in the spring of 2002.

    "Since the summer of 2002, I have invited Han Tonglin, a researcher at the Chinese Academy of Geological Sciences, Song Huailong, a researcher at the Institute of Oceanography of the Chinese Academy of Sciences, and other experts, scholars and environmental protection volunteers to conduct on-the-spot investigations and investigations, and found that the dust storm caused by the dry Lake Chagannor is different from the sandstorm we generally know, and the dust it carries contains a lot of saline-alkali substances."

    Zheng Baiyu said that the sight seen in Chagannuoer Lake is shocking: the dry lake basin is full of white saline-alkali dust, which is very fine and loose, and you can raise smoke when you step on it. Salinity will even crystallize in wet places and become saline-alkali ice flowers. Loose saline-alkali dust will be raised when the wind is not very strong. Generally, when the wind is 5 ~ 6, almost pure saline-alkali dust rises locally in the lake basin, and a white saline-alkali smoke covers the lake basin area. Sometimes the saline-alkali dust is rolled into a column of smoke like a tornado and rises very high. When the wind increases to 7 ~ 8, even the dust rolls up and becomes a strong mixed dust storm of saline-alkali dust.

    The sandstorm often mentioned is actually a saline-alkali dust storm.

    "From the situation of Chagan Noel, the sandstorm we are talking about now should be a dust storm in essence, and it is a dust storm rich in saline-alkali substances. The dust of the saline-alkali dust storm is very slight, rising very high, and will enter the atmospheric circulation and be transported to far places. From the path of dust storm, it affects Beijing, Tianjin and North China. Without intervention, the Chagannuoer dry lake basin will also evolve into a desert or sand. "

    Zheng Baiyu pointed out that the research conclusion of Chagannuoer and the understanding of saline-alkali dust storm are quite different from the traditional sandstorm theory in China. The traditional sandstorm theory focuses on the physical parameters such as power source, material source, path, harm, prevention and control, and there are two big indexes that are not involved or not well expressed-the relationship between the particle size of sandstorm inclusions and sandstorm movement, and the chemical composition of sandstorm inclusions and its influence.

    Han Tonglin believes that it is of great significance to determine the particle size of dust entrained by sandstorms. In layman’s terms, it is necessary to determine whether the components of sandstorms affecting eastern China are mainly "sand" or "dust", and to determine the birthplace. "If it is sand, the focus of work is on controlling sand sources; If it is dust, treat the dust source. "

    According to Han Tonglin, the granularity of sand and dust is different. Under the same wind, the finer the particles, the higher they rise and the farther they are transported. "According to the classification method in China, the classification standard of soil mechanical composition is 8 grades, namely gravel, extremely coarse sand, coarse sand, medium sand, fine sand, extremely fine sand, silt and clay. When the wind speed is 15m/s (level 7), the floating distance of 0.1mm fine sand is 4.5 ~ 45m, and the floating height is less than 8m. The floating distance of 0.01mm silt is 45 ~ 450 kilometers, and the floating height is below 800 meters. In the sampling of eight deserts in China, fine sand accounts for 85.6%, medium sand accounts for 11.6%, and the rest is coarse sand. It is unfounded to think that desert is the material source of sandstorms. "

    In addition, the sand in the desert and the dust in the sandstorm are not only a matter of particle size, but also have different movement forms, settlement locations and prevention methods.

    Han Tonglin said: "If we distinguish the size of dust particles in sandstorms, we can find that the current measures to prevent and control sandstorms are inappropriate-for curbing dust storms and controlling dust storm sources, the role of afforestation is limited. It can neither stop dust storms in Beijing, Tianjin and North China, nor is it the best means to restore the ecology of dust source areas, especially in the desert areas that have been formed. It is a waste of national financial resources."

    Song Huailong believes that the current standards and definitions cannot fully reflect other attributes of sandstorms. "Generally speaking, it is not clear what the chemical composition of sand and dust substances is and the impact of these components on people’s lives, social activities and ecological environment. According to the source, movement and environmental impact on human beings and ecology, dust storms can be divided into physical dust storms and chemical dust storms. The toxicological effect of chemical dust storms is a part worthy of special attention. "

    The chemical dust storm has been verified by experiments.

    For the viewpoint that sandstorms in China are chemical dust storms, several researchers provided experimental data.

    A research team of Beijing Normal University made a laboratory analysis on the components of the extraordinarily serious sandstorm in Beijing on March 20th, 2002, and wrote a paper entitled "Saline soil source of dry salt lake of sandstorm in Beijing", saying that "the surface soil of the arid and semi-arid areas where sandstorm passed through including dry salt lake and saline soil is also its main source".

    The Institute of Geology, Chinese Academy of Geological Sciences, analyzed the dry dustfall in Beijing on April 16 this year, and the results were almost the same as those of the research group of Beijing Normal University. According to the results of electron microscope scanning and chemical analysis of water-soluble salts at room temperature, the dust storm in Beijing on April 16 was a chemical dust storm. The results of particle size and content measurement by scanning electron microscope show that 96% of the particles are smaller than 0.074mm, and 4% are smaller than 0.154mm and larger than 0.074 mm. The pH value of dust is 7.9, which is alkaline. The structure, geochemical characteristics and the detection results of water-soluble salt at room temperature show that the composition of dust is basically the same as that of soil samples in dry saline lake basin, but different from that in Hunshandake sandy land and degraded grassland, indicating that the dust in Beijing on April 16 mainly came from dry saline lake basin.

    Saline-alkali desert and chemical dust storm are universal problems in western China.

    Most of China’s salt lakes and dry saline-alkali lake basins are concentrated in the west, and there are 813 salt lakes with an area of nearly 40,000 square kilometers. All the saltwater lakes have more than 100,000 square kilometers, and if the dry lake basins are included, it is much larger than this figure. Some of these saline-alkali dry lake basins are close to North China, Beijing and Tianjin. In addition, there are about 500 million to 600 million mu of saline-alkali land in China, and most of them are distributed in the west of China.

    Zheng Baiyu believes that the phenomenon of saline-alkali desert and chemical dust storm has a profound geographical and geological background. The western part of China is located in the easternmost part of the North Africa-Eurasia desert belt, which is an ancient ocean in ancient times. Since Cenozoic Tertiary, the ancient ocean has begun to shrink back. In the process of evolution, two noteworthy phenomena appeared. First, a large amount of salt in the ocean and saltwater lake remained in the soil during the drying of the lake and sea. Because part of the salt became alkali through alkalization, these soils became saline-alkali soil. Second, large areas of dry sea basins and lake basins have appeared in inland sea and lakes. The sediments in dry sea basins and lake basins are deep, fine and rich in saline-alkali substances. "Some deserts in China are in basins, such as the Taklimakan Desert in the Tarim Basin, which is the result of this evolution. This explains why most sandstorms in China are caused by saline-alkali dust storms. "

    Zheng Baiyu believes that although the chemical dust storm is mainly caused by natural causes, it also has a lot to do with unreasonable human activities, especially the unreasonable use of water resources by human beings, which has an incalculable impact on the environment.

    Controlling chemical dust storm with salt-tolerant pioneer economic plants

    Because the views of researchers such as Zheng Baiyu and Song Huailong have not been recognized by the competent authorities of the state, they have not been supported by the state. However, they started the research and experiment of comprehensive management with their own funds-planting saline-alkali tolerant pioneer economic plant Suaeda salsa to cover the bare grassland saline-alkali spot desert, so as to achieve the purpose of fixing dust and suppressing alkali. The experiment was carried out in Chagannuoer dry lake basin in Ximeng, Inner Mongolia and Angulino dry lake basin in Hebei. After four years of exploration, the experiment has achieved phased results. Based on the experiment of artificial planting of 1000 mu in Chagannuoer in 2003, the coverage area of Suaeda salsa has been expanded to about 10000 mu, of which more than 900 mu have a coverage rate of over 85%. The average plant height is about 60cm;; The average plant weight is 225g g. In this 10000-mu Suaeda salsa coverage area, it can be preliminarily judged that it has basically the effect of dust fixation and alkali suppression, that is, it has shown the ecological control effect of little or no saline-alkali dust in strong wind.

    Several researchers, including Zheng Baiyu, also put forward suggestions for controlling chemical dust storms. First, reform the management system. Preventing and controlling chemical dust storms is a systematic project involving many departments and disciplines, which should be led by an organ that can command, synthesize and coordinate all departments, and is not suitable for a professional department. Second, intensify research, with the national authorities taking the lead in organizing or designating specialized research institutions to carry out research on the evolution of dry lake basins and the prevention and control of chemical dust storms, and collect relevant information as soon as possible; The third is to improve the national monitoring system and testing projects; Fourth, continue the dust source control project; The fifth is to grasp several big projects and experimental projects; Sixth, we are determined to adjust the production mode and production structure of grassland animal husbandry, transform family pastures, implement intensive grassland animal husbandry and build new pastoral areas.

Extreme cold weather has reduced supply, and oil prices have reached a one-year high.

  First, the extremely cold weather has led to a decrease in supply, and oil prices have reached a one-year high.


  In February, the average oil price rose by more than 10% compared with January, and the Japanese crude oil contract 07 once broke through the integer mark of 40,000. During the Spring Festival, crude oil production in the United States and Russia dropped sharply due to extremely cold weather. At the same time, the multinational Coalition forces headed by Saudi Arabia claimed to intercept a drone launched by the Houthi armed team allied with Iran, which was full of explosives. Extreme cold weather caused supply disruption and geopolitical events, which caused oil prices to rise unilaterally. However, after the large-scale cold wave weather, the reduced output will gradually recover. At the same time, OPEC+ sources said that in view of the rebound in oil prices, OPEC+oil producers may relax restrictions on crude oil supply after April. Near the weekend, oil prices retreated some of the gains.



Extreme cold weather has reduced supply, and oil prices have reached a one-year high.


  As of Friday (February 19th), TOCOM Middle East oil futures Wenhua Financial Price Index opened at 37,940 yen at the beginning of the week and closed at 38,990 yen on Friday, up 1,080 yen, or 2.85%, from last week’s settlement price. The crude oil price index of culture, finance and economics is maintained in the range of 37810-40420 yen as a whole.


  Second, this week’s US EIA data analysis


  Inventory: As of the week of February 12, the inventory of commercial crude oil excluding strategic reserves decreased by 7.257 million barrels to 461.8 million barrels, a decrease of 1.5%, which recorded a decline for four consecutive weeks and fell to the lowest level since March last year. Gasoline inventories increased by 672,000 barrels, recording growth for four consecutive weeks. Refined oil inventories decreased by 3.422 million barrels, recording a decline for four consecutive weeks and hitting a new low since the week of November 20, 2020 (13 weeks). Cushing crude oil inventories decreased by 3.028 million barrels to the lowest level since March last year.


  Import and export: As of the week of February 12, commercial crude oil excluding strategic reserves imported 5.898 million barrels per day last week, an increase of 41,000 barrels per day over the previous week. US crude oil exports increased by 1.245 million barrels per day to 3.862 million barrels per day last week. In the past week, the net import of crude oil inventories in the United States decreased by 1.204 million barrels per day.


  Equipment utilization rate: As of the week of February 12th, the refinery equipment utilization rate increased by 0.1% to 83.1%, and it is expected to decrease by 0.2% to 82.8%. The utilization rate of refineries has risen to a new high since March last year.


  Output: As of the week of February 12, the domestic crude oil output in the United States decreased by 200,000 barrels to 10.8 million barrels per day last week.


  Third, other influencing factors


  According to data released by Baker Hughes, an American oil service company, as of the week of February 19th, the total number of oil drilling wells decreased by one to 305, which was previously expected to increase to 309. The total number of natural gas drilling wells increased by 1 to 91 in the current week; The total number of wells drilled was the same as last week, with 397 wells.


  The coldest weather in the past 30 years has caused serious damage to the major oil-producing States in the United States. The oil production has plummeted by more than 2 million per day, and these States had almost no need to deal with the Arctic storm. Consulting firm Energy Aspects Ltd estimated that as of Monday, the refining capacity in the United States had decreased by 3.1 million barrels per day. According to people familiar with the matter, Total’s refinery in Port Arthur, Texas, shut down the coking unit, with a capacity of 225,500 barrels per day. Total is also preparing to shut down the crude oil distillation unit of the refinery, which decomposes crude oil into hydrocarbon raw materials for all production equipment of the refinery. Due to severe cold weather in Texas, the largest oil refinery in North America was closed. According to an email from Motiva Enterprises LLC, the company will stop the operation of its refinery in Port Arthur, Texas. It is reported that the crude oil production in the Permian basin was frozen due to severe cold weather, and the crude oil production in the United States fell by more than 40% or 4 million barrels per day. Anadarko basin also has a large reduction in production.


  According to people who know the production data, from February 1 to 15, the average daily output of crude oil and condensate oil in Russia was 1.38 million tons. This is equivalent to a daily output of 10.115 million barrels, which is about 44,000 barrels lower than the January level. Due to the extremely cold weather, some manufacturers cut off the flow of oil pipelines.


  According to the Wall Street Journal (blog, Weibo), Saudi Arabia will increase its oil production when the oil price picks up, and plans to increase production in the next few months, so as to reverse the big reduction in January and increase production by as much as 1 million barrels a day. India’s oil minister also urged OPEC+to relax production cuts on Wednesday. It should be noted that the official position of Saudi Arabia is more cautious. Before the news from foreign media came out, the Saudi oil minister expressed the hope that the oil market would not be complacent and it was too early to announce the victory over the virus. It will not send a signal of OPEC+oil production reduction in the future. I hope that oil traders will not try to predict the trend of OPEC+.


  The multinational Coalition forces headed by Saudi Arabia claimed to intercept a drone launched by the Houthi armed team allied with Iran, which was full of explosives. Prior to this, Houthi armed forces attacked an airport in the southern border area of Saudi Arabia.


  CEO of Gazprom, a Russian gas company: Global oil demand has not recovered, but we have seen a positive trend. It is difficult for oil prices to stay above $60/barrel. Oil demand may return to the pre-crisis level next year. It is more appropriate to keep the oil price between 45-60 USD/barrel.


  American officials said that the United States is willing to hold a dialogue with Iran at the six-nation meeting on the Iranian nuclear issue hosted by the European Union. For the first time in the United States, officials have loosened up.


  According to the announcement by the Texas Electric Power Reliability Committee (ERCOT) that the local energy emergency has been cancelled, it is said that the local power grid has returned to normal. Many oil miners, including Marathon Oil Company, are taking advantage of the power grid and generators to restore power supply to resume production. The Texas oil field in the United States is slowly starting to restart drilling work. Previously, due to the southward movement of polar cold air, there was a historic drilling stoppage in the area involved in the oil field.


  According to local media reports in Angola, Di Mantino Azevedo, Angola’s Minister of Mineral Resources and Petroleum, recently said in Luanda that Angola’s oil production only accounts for 20% of domestic daily consumption demand, while the rest of the oil consumption is imported from abroad. The minister said that Angola imported nearly 3 million tons of refined oil in 2019 and spent more than 1 billion US dollars. This import requires a lot of foreign exchange expenditure, which can be used for public investment and other expenditures in Angola. At present, in order to reverse this trend, the Angolan government has formulated a strategic plan for oil refining, which includes the construction of oil refineries in Cabinda, lobito and Soyo, and the modernization and optimization of Luanda oil refinery.


  According to Iranian state television, Iranian Deputy Foreign Minister Rogochiy said in a television interview on the 21st local time that borrell, the European Union’s High Representative for Foreign Affairs and Security Policy, said that an informal meeting would be held to invite the Iranian nuclear deal participants and the United States. At present, Iran is considering and discussing the proposal with relevant parties, and will respond to it later. But at the same time, Rogochiy said that there is no need to discuss the return of the United States to the Iranian nuclear deal and fulfill its commitments. The only way is to lift the sanctions against Iraq, and some technical and implementation issues can be negotiated by borrell and others.


  Fourth, the forecast of the market outlook


  According to the latest news, the power grid in Texas has been restored and the oil industry is restarting production, which means that the fear of supply interruption caused by extremely cold weather will gradually disappear. The focus of the market will continue to shift to changes in the supply side. At present, the relationship between the United States and Iran is slowing down, and due to the rebound of oil prices, OPEC+ oil producers may relax restrictions on crude oil supply after April. Concerns about increased supply impose oil prices. Recently, oil prices have risen sharply, climbing to a one-year high. Oil prices are at risk of a short-term correction.


  The information in the report comes from public sources, and I do not guarantee the accuracy and completeness of this information, nor do I guarantee that the information and suggestions contained will not change. I have tried my best to report objectively and fairly, but the opinions and suggestions in this paper are for reference only. Customers should carefully consider their own needs. I am not responsible for any direct or indirect losses caused by using this report and its contents.

(Editor in charge: Chen Chen)