CCTV News:The report "China Gold Market Outlook in 2022" released by the World Gold Council yesterday (February 15th) shows that the demand and consumption of gold in China will achieve a "good start" in 2022. From New Year’s Eve to the Lantern Festival, China’s gold consumption increased by 12% year-on-year.

　　The report "China Gold Market Outlook in 2022" shows that although the global economy continues to slow down in 2022, the prospect of gold demand in China is very optimistic, especially during the Spring Festival, a traditional festival in China, gold products with the theme of "tiger" are deeply loved by consumers. According to the analysis of insiders, influenced by multiple factors, China gold market has achieved a "good start".

　　According to the report, another feature of China’s gold market is that the pricing transparency of China’s gold jewelry market is higher, and the change of young consumers’ taste and mentality for gold jewelry is getting better and better.

Special feature of 1905 film network The New Year’s Day slot ended with a total box office of 1.02 billion, but the afterheat of four main films of the New Year’s Day slot still lingered. In the next two weeks, we ushered in a number of new films of different types to be centrally booked as the transition period after the New Year’s Day slot. Will the "post-New Year’s Day slot" make a good start for the upcoming Spring Festival slot?

Every year, there is a slot between New Year’s Day and Spring Festival, which is close to one month. This slot is not popular in the traditional sense, but as a transition between the two big slots, many films with relatively less outstanding sales will choose to be released at this time.

Wu Yanyu, a film critic, mentioned: "Last year and the year before last, many domestic films were in a state of backlog, which was a stock, and it was also a storage period, so many films would choose to be released at this time. These films may be’ small and beautiful’ and don’t expect to be an explosion, but you can take a look at this schedule. "

Because it is during the winter vacation, the largest number of films released after the New Year’s Day this year are cartoons, such as those produced by Disney, and animated movies that have assembled many classic animated images in China.

For the "off-season" of this film market, there are also many small and medium-sized films, which are chosen to be released at this time: for example, the film with the theme of Northeast China, the first Chaoshan family comedy film, and the film focusing on ice and snow sports.

Among many films, as the first Hollywood blockbuster in the new year, it was the first to announce the final file, and now the number of people who want to see it has reached hundreds of thousands. The IP "Matrix" has a broad audience base, and it is also the only Hollywood blockbuster in this schedule. Can "Matrix Restart" set off a movie-watching craze?

Wu Yanyu is not optimistic about the box office performance of "The Matrix Restart": "On the one hand, the word-of-mouth of the film has slightly collapsed overseas, on the other hand, it has chosen a very bold distribution method, and the network is synchronized. This time, basically, it can be said that the bottom has been seen overseas, but because the audience base is indeed relatively large, the basic film should still be able to be maintained. It is really difficult to predict whether more people can enter the cinema by word of mouth. "

Every year after the New Year’s Day, New Year’s Day movies are the main growth force of the box office. This year, both "Hug You Through the Winter" and "Hug You Through the Winter" have a strong box office appeal, including the fact that the film continues to release materials on Tik Tok and other social platforms. It can be seen that the film still hopes to get more long tail effects in the future.

At the same time, the Spring Festival movies can be said to be menacing. So far, eight films of different types have been booked for the Spring Festival, and then there will definitely be a flood of promotional materials, which will impact the popularity of the films released in mid-January to some extent.

Huang Xiaomin, deputy director of the marketing department of UME Film Group, a Chinese cultural cinema line, mentioned the film arrangement in this schedule: "It will be relatively stable after New Year’s Day and before the Spring Festival. Now, January is definitely dominated by richness, and Hollywood blockbusters will definitely give themselves a reasonable space, especially on weekends. In terms of film arrangement, it will also give the family audience a certain space, and more customers will put the viewing opportunity on the Spring Festival later. "

For films after New Year’s Day, it is actually better for the overall market if the market can keep the two movie-watching enthusiasm of New Year’s Day and Spring Festival in a relatively stable state. However, from the perspective of the overall film market and the broader market, it is not the big schedule that leads to high box office, but there are also excellent films between the big schedule and the big schedule, and there are also relatively less cold market situations, which is more beneficial to the China film market.

　　The east is not bright and the west is bright. There are many "friends" and many roads. Under the background of shrinking global demand, China’s foreign trade "friend circle" has been expanding, and a large number of foreign traders have also taken the initiative to attack new markets that were almost blank before.

　　Homeopathy for

　　According to customs data, in the first half of this year, the national import and export decreased by 4.7%, exports by 3.2% and imports by 6.7%. Specifically, among the 26 major countries (regions), 7 countries (regions) showed positive growth in imports and exports, and 8 countries (regions) achieved positive growth in exports.

　　Among them, the export growth rate to Russia is the fastest, reaching 78.1%, followed by Singapore, with a year-on-year increase of 37.2% and South Africa with a growth rate of 13.9%. In addition, China’s exports to ASEAN, Malaysia and Thailand increased by 1.5%, 2.5% and 0.4% respectively. Exports to Australia increased by 0.7%.

　　"Our export growth to Russia far exceeds that of other regions." Liu Mingyang, general manager of Yiwu Ouchi Import & Export Co., Ltd. told CBN that the export to Russia increased by more than 50%, while in other regions it was generally around 20%. In addition to Russia, Southeast Asia is the new market they will focus on this year.

　　Liu Mingyang is a foreign trade veteran in the field of cross-border e-commerce. Benefiting from the rising trend of cross-border e-commerce, the company’s export performance rose against the trend, and he also learned the ability to flexibly adjust the market with the help of big data. In fact, targeting the main battlefield at Southeast Asia and Russia is a strategic change he made in the second half of last year. The way is to use the digital technology of cross-border e-commerce to find markets with rapid demand growth and corresponding hot products at a lower cost, and then find matching buyers through hierarchical management to realize the so-called "finding the blue ocean in the Red Sea".

　　In his words, it is very difficult for Chinese to sell a product in a strange overseas market, because he doesn’t know the local living habits, and by using digital methods, he can quickly grasp the real and specific needs of overseas markets and help them to have a definite purpose.

　　Like Liu Mingyang, Su Wei, the general manager of Shanghai Zhongda Kangjin International Trade Co., Ltd., also belongs to the trend.

　　Su Wei told CBN that they will focus on developing the "Belt and Road" market this year. Affected by trade friction, they found a cooperative garment factory in Vietnam as early as 2017. Last year, about 20% of the production capacity was placed in Vietnam and 80% stayed in China. Vietnam’s investment stranded by the epidemic is expected to continue to expand this year, which also allows them to target the market in Vietnam and its surrounding areas.

　　Affected by the global economic downturn and the outward shift of production capacity in Southeast Asia, Su Wei said that as a OEM of European and American clothing brands, their overall export decline was more serious this year, and the sales of one international brand were halved, and the orders they received were also discounted.

　　In addition to looking for more cooperation from international brands, Su Wei saw the growing demand for localization of supply chain from brands under the downward background. On the one hand, the orders originally produced in China for export to Europe and the United States are indeed being "de-China" more and more, which urges them to continue to increase the proportion of production in Vietnam and at the same time explore the local and Southeast Asian markets; On the other hand, the production lines of international brands aimed at China’s mainland market are becoming more and more localized. "They hope that the products in China market are different from those in other countries, and they also hope that all these products will be produced in China to get a faster response.". This adjustment has also enabled them to gain more orders for the China market.

　　Yuan Xiumei, general manager of Zhejiang Zhihua Home Textile Technology Co., Ltd., has just returned from an exhibition in Australia, which is the new market they will focus on this year. She told CBN that to open up a blank market, it is necessary to understand the market through various channels, then find products that are not available in the market, and then introduce these new products to local customers in a targeted manner, "if you are interested, you will go to the local area to pursue victory."

　　Lv Daliang, spokesman of the General Administration of Customs and director of the Statistics and Analysis Department, said at the press conference of the State Council Office on July 13th that in recent years, the vast number of foreign trade enterprises in China have fully exerted their subjective initiative, actively responded to the changes in the international market, pioneered and innovated, and while stabilizing economic and trade exchanges with developed economies, they have also explored regional markets such as developing countries and ASEAN, and made positive progress in the diversification of trade markets.

　　Apart from ASEAN, in terms of RMB, China’s import and export scale to Latin America, Africa and Central Asia increased by 7%, 10.5% and 35.6% respectively in the first half of the year, both higher than the overall import and export growth rate in the same period. Since 2020, ASEAN has maintained its position as China’s largest trading partner for three consecutive years. China’s import and export to Latin America has maintained positive growth for six consecutive years, and exceeded 3 trillion yuan in 2022. The five Central Asian countries have become new growth points of China’s foreign trade. Last year, the growth rate of China’s import and export to the five Central Asian countries was higher than that of the whole import and export in the same period. At the same time, China’s import and export to countries along the Belt and Road increased by 9.8%, 7.7 percentage points higher than the overall growth rate, accounting for 34.3%, up 2.4 percentage points year-on-year; Imports and exports to other members of RCEP (Regional Comprehensive Economic Partnership Agreement) increased by 1.5%.

　　The change of foreign trade "friends circle" has made the demand for cross-border transportation of China-Europe trains strong.

　　According to the data of China National Railway Group Co., Ltd., in the first half of this year, 8,641 trains were operated in China and Europe, and 936,000 TEUs were delivered, up by 16% and 30% respectively. Among them, there were 4,620 trains and 499,000 TEUs, up by 16% and 29% respectively. The return journey was 4,021 trains and 437,000 TEUs, up by 16% and 31% respectively. Up to now, China-Europe trains have accumulated more than 73,000 trains and 6.9 million TEUs over the years, reaching 216 cities in 25 European countries.

　　make one’s way up stream

　　In the battlefield of global trade, there are both wise men who follow the trend and warriors who go upstream.

　　Customs data show that in the first half of this year, China’s import and export to the EU, the second largest trading partner, decreased by 1.4% compared with last year, while exports and imports decreased by 6.6% and 1.4% respectively. Imports and exports to the United States, the third largest trading partner, fell by 14.5%, while exports and imports fell by 17.9% and 3.7% respectively.

　　For Wei Guowen, general manager of Ningbo Baolinda Import & Export Co., Ltd., even though the American market is shrinking as a whole, there are still a lot of business opportunities. This almost blank battlefield for them is in line with their original European-oriented market positioning — — They are all mid-to-high-end mature markets willing to pay for brands and personalized IP.

　　Wei Guowen told CBN that after several years of product development and customer communication, the American market has finally increased this year. "This year, the American line has grown very fast, making up for the decline in Europe and bringing about the overall growth in the first half of this year."

　　Ding Yandong, general manager of Ningbo Remankes Door and Window Fittings Co., Ltd., has visited nearly ten countries this year and plans to leave for Australia and the United States in the second half of the year. The United States is actually a land that this "trapeze artist" has never set foot on.

　　"The previous orders have been good, and they have not paid attention to the US market. To a certain extent, they are also affected by technology, equipment and personnel." Ding Yandong told CBN that with the improvement of the enterprise’s own technical iteration and market development ability in recent years, they decided to go to the United States to explore new markets this year, and at the same time, they also took samples to meet customers who had contacted but had not successfully placed orders.

　　In order to improve the success rate of taking orders, Ding Yandong had communicated with five or six customers in the United States for several rounds before leaving, "I will try to win the order when I meet you". If it goes well, it is expected that the order I can win will account for about 15% of the company’s annual orders.

　　In addition to opening up the blank market, Ding Yandong also plans to build his own factory and expand production capacity. In the face of the current grim situation, this kind of investment behavior is not brave. In his view, the company’s volume is still small, the space for decline is limited, and the space for growth is still bigger. In the period when the market lacks confidence, contrarian investment can get sufficient policy support and land and equipment at the right price. Therefore, taking advantage of the adjustment period to expand the market territory and open up more new markets will be the driving force and business opportunities for them to maintain their growth in recent years.

　　In the first half of this year, although Ding Yandong also felt obvious downward pressure from May to June, the company as a whole still maintained a growth rate of around 20%. According to his estimation, the landing of the new factory in two years will multiply the production capacity several times. He has a preliminary plan on whether the future production capacity can be saturated — — It can be co-built and shared with partners in the industrial chain. More generally speaking, it will be one of the ways for them to realize transformation and upgrading in management and operation from today’s venue tenants to future landlords.

　　"Since the beginning of this year, the external challenges faced by foreign trade have obviously increased. the State Council has timely introduced policies and measures to fully support foreign trade enterprises to explore the market. In general, in the face of a severe and complicated external environment, foreign trade withstood the pressure in the first half of the year and showed strong resilience. " Li Xinggan, director of the Foreign Trade Department of the Ministry of Commerce, said at the press conference on July 19th that looking forward to the second half of the year, China’s foreign trade is facing many uncertain, unstable and unpredictable factors, and the economic and non-economic factors are intertwined, so the situation is extremely severe. However, the supply chain of China’s foreign trade industry chain has strong resilience, and China’s foreign trade enterprises are tempered and grown up in the international market competition, with inherent innovation ability. The throughput of foreign trade goods and containers monitored by the transportation department is also increasing, and the actual cargo entry and exit is still relatively active. Therefore, we are optimistic about the prospects of foreign trade in the second half of the year.

　　★ Focus on this month ★

　　"730 meeting" set the tone

　　The government accelerated the tightening of financing for housing enterprises.

　　At the 730th meeting of this month, the Political Bureau of the Central Committee once again reiterated the need to implement the long-term management mechanism of real estate, and proposed for the first time not to use real estate as a short-term means to stimulate the economy. This is the government’s latest statement on the real estate industry, and it is also a warning that the real estate is slightly overheated some time ago. In fact, before the meeting was set, the government had tightened the financing of housing enterprises several times in July: from 6 th to 10 th, the China Banking Regulatory Commission interviewed some trust companies about the problems in financing housing enterprises; On the 12th, the National Development and Reform Commission (NDRC) issued a notice on the relevant requirements for filing and registration of foreign debts issued by housing enterprises, which put forward higher requirements for housing enterprises to issue overseas debts. On the 29th, the central bank announced at the symposium on the adjustment and optimization of credit structure of banking financial institutions that it should strengthen supervision over the loan behavior of large-scale housing enterprises with high leverage. Under a series of government control, it is expected that the financing environment of housing enterprises will be mainly tightened in the second half of the year.

　　The amount of bonds issued by housing enterprises at home and abroad has risen sharply.

　　The financing cost has been reduced.

　　The total financing of 95 typical real estate enterprises this month was 153.446 billion yuan, up 55.3% from the previous month and 63.2% from the same period last year. Among them, the total amount of bonds issued by enterprises at home and abroad this month was 83.53 billion yuan, up 104.2% from the previous month, only lower than the level of bonds issued in January and March 2019. This month, the financing cost of housing enterprises issuing bonds was 6.86%, down 0.57 percentage points from the previous month; Among them, the financing cost of overseas bonds was 7.55%, which was 0.70 percentage points lower than that in June, mainly because a number of low-cost housing enterprises issued a large amount of bonds in July, which structurally lowered the financing cost.

　　Zhongliang Holdings officially went public.

　　There are 9 real estate companies and property companies to be listed.

　　On the 16th of this month, Zhongliang Holdings was officially listed, and Hehong Services under Hehong Real Estate was also listed on the 12th. No housing enterprises or property companies under the housing enterprises submitted listing applications. Therefore, as of the end of July, there were 6 real estate enterprises and 3 property companies owned by real estate enterprises waiting for IPO on the Hong Kong Stock Exchange.

　　China Jinmao introduced Ping An into the second largest shareholder through rights issue.

　　On 26th of this month, China Jinmao announced the introduction of Ping An as the second shareholder, and Ping An subscribed for 1.787 billion shares of Jinmao for about HK$ 8.6 billion. After the subscription, Jinmao newly issued 169 million shares, and the shares subscribed by Ping An accounted for about 15.20% of the enlarged issued share capital.

　　Produced by Kerry

　　Corporate bond issuance

　　Bond issuance: up 104% from the previous month, but overseas bond issuance is limited, and the future is not optimistic.

　　The total financing of 95 typical housing enterprises this month was 153.446 billion yuan, up 55.3% from the previous month and 63.2% from the same period last year. In terms of specific financing methods, domestic debt financing was 74.939 billion yuan, up 34.9% from the previous month; At the same time, the amount of overseas debt financing was 72.25 billion yuan, up 123% month-on-month, and the amount of overseas financing increased greatly month-on-month, only lower than that in January 2019.

　　Among them, the total amount of corporate bonds issued at home and abroad this month was 83.53 billion yuan, up 104.2% month-on-month, which was significantly higher than that in June, only lower than that in January and March 2019. In terms of specific financing methods, the issuance of overseas bonds was 58.93 billion yuan, up by 104.0% month-on-month. Among them, before the introduction of the new regulations on restricting overseas bond issuance on July 12, housing enterprises issued 16 overseas bonds totaling 39.6 billion yuan. After the introduction of the new regulations, housing enterprises issued 9 overseas bonds totaling 19.3 billion yuan. The introduction of the new regulations has restricted the overseas bond issuance of some enterprises, and the amount of overseas bond issuance of housing enterprises is expected to decrease slightly in the future. Domestic bonds increased by 104.9% month-on-month, of which corporate bonds increased by 99.3% month-on-month to 14.65 billion yuan, and medium-term notes increased by 260% month-on-month.

　　The financing cost this month was 6.86%, down 0.57 percentage points from the previous month; Among them, the financing cost of overseas bonds was 7.55%, which was 0.70% lower than that in June, mainly because a number of low-cost real estate enterprises issued a large amount of bonds in July, which reduced the financing cost structurally. For example, CNOOC Real Estate issued 2 billion Hong Kong dollars and 450 million US dollars of overseas bonds in July, with interest rates of 2.95% and 3.45% respectively, and China Jinmao issued 500 million US dollars of overseas priority notes with interest rate of only 4.25%. In 2019, as of July, the financing cost of new bonds in real estate enterprises was 7.18%, up by 0.71 percentage points over the whole year of 2018. Among them, the financing cost of overseas bonds reached 8.21%, an increase of 1.06 percentage points over 2018.

　　In terms of specific corporate performance, Shimao Real Estate issued the highest amount of bonds in July, with a total amount of 6.885 billion yuan. On July 9, Shimao issued a $1 billion overseas priority bill. The lowest financing cost this month is a RMB 1 billion ultra-short financing bond issued by Xiamen International Trade (600755), with an interest rate of 2.69%. In addition, the interest rates of HK$ 2 billion and US$ 450 million of overseas bonds issued by China Shipping are 2.95% and 3.45%, respectively. Among them, US dollar bonds have the lowest interest rate and the lowest spread for Chinese real estate enterprises in the same year, with a fixed interest rate of HK$ 2 billion for 55 years.

　　Term of bonds: 53.099 billion yuan of bonds due this month.

　　This month, there are 26 corporate bonds due from real estate enterprises, with a total amount of 53.099 billion yuan, and the highest maturity amount is 6.8 billion yuan of corporate bonds issued by China Evergrande in July 2015. In addition, the overseas bonds of 600 million euros issued by China Shipping Real Estate on July 9, 2015 are also scheduled to expire in July. In addition, three bonds of Jinke (000656) and Rong Sheng Development (002146) have also expired.

　　Pay attention in advance that there will be 14 bonds due in August 2019, with a total amount of 17 billion yuan. The enterprise with the highest single amount is a $450 million overseas priority bill issued by Lujin Infrastructure on August 9, 2016.

　　Listing and stock

　　Housing enterprises to be listed: there are 9 queuing housing enterprises and property companies.

　　No real estate enterprises submitted listing applications to the HKEx this month, and as Zhongliang Holdings was officially listed on the 16th, as of the end of July, there were six real estate enterprises waiting for IPO on the HKEx, namely Huijing Holdings, Hellenborg China Holdings, Aoshan Holdings, Xinli Holdings, Wanchuang International and Jingyi Mingbang.

　　As for the property management companies under the housing enterprises, no property companies submitted listing applications to the Hong Kong Stock Exchange this month. On the 2nd of this month, Yincheng Life Service under Yincheng International submitted a listing application to the Hong Kong Stock Exchange, and on the 12th, Hehong Service under Hehong Real Estate was officially listed. Therefore, as of the end of July, there are three property management companies under the real estate enterprises waiting for IPO on the Hong Kong Stock Exchange: Xinyuan Property Service, Blu-ray Garbo Service and Yincheng Life Service.

　　IPO and additional issuance: Zhongliang was successfully listed, and Jin Mao introduced Ping An as the second shareholder.

　　On the 16th of this month, Zhongliang Holdings was listed on the Hong Kong Stock Exchange at an offering price of HK$ 5.55 per share. According to this offering price, the net proceeds from the global offering are estimated to be about HK$ 2.773 billion. The completion of the listing of Zhongliang Holdings marks that all the top 30 large-scale housing enterprises have been listed, and it also allows Zhongliang to successfully enter the capital market. In 2018, Zhongliang’s net debt ratio was 58.1% and the weighted financing cost was 9.9%. After listing, enterprises can increase financing efforts and reduce financing costs, and can accelerate the development of enterprises with the help of capital.

　　As for the property management company under the real estate enterprise, Hehong Services under Hehong Real Estate was listed on the 12th this month, with a global sale of 100 million shares, with a net proceeds of HK$ 77.1 million. So far, in 2019, three property companies owned by real estate enterprises have successfully listed.

　　In terms of additional shares, this month, China Jinmao announced the introduction of Ping An as the second largest shareholder, which is another shareholding in large-scale housing enterprises after Ping An invested in Huaxia Happiness (600340) last year. This time, Ping An subscribed for about 1.787 billion shares of China Jinmao for about HK$ 8.6 billion. Immediately after the subscription, China Jinmao issued another 169 million shares, with a net financing of about HK$ 815 million. Therefore, the shares acquired by Ping An accounted for about 15.20% of the enlarged issued share capital. For China Jinmao, the introduction of Ping An, a financial giant, can not only help enterprises to bring more cooperation opportunities, but more importantly, it can broaden the financing opportunities of enterprises in disguise, open channels for enterprise funds and maintain the stability of enterprise capital chain under the situation of continuous tightening of financing.

　　On the 30th of this month, Zhengrong Group announced the completion of placing about 245 million shares at a price of HK$ 4.95 per share, accounting for about 5.60% of the issued share capital of the company after allotment and subscription. The net proceeds from this Zhengrong rights issue financing are about HK$ 1.199 billion, which will be used for possible future investment purposes and as general working capital.

　　Changes in equity: Jianye stock held by Kaide clearance.

　　This month, a number of real estate enterprises have seen shareholders increase their holdings and reduce their holdings of the company’s shares. At the beginning of the month, CapitaLand cleared its shares in Jianye Real Estate and sold them all to Enhui Investment under the name of Hu Baosen. This time, CapitaLand’s clearance of Jianye shares is mainly due to the long-term development of Jianye Real Estate in Henan Province, which is outside the core urban agglomeration of CapitaLand’s layout. Stripping investment in Jianye can enable CapitaLand to reallocate capital in its core business and invest in other opportunities, which is the need of CapitaLand’s strategic adjustment.

　　Stock price changes: the performance of real estate stocks was relatively weak throughout the month.

　　This month, the overall performance of real estate stocks was weak, and less than 40% of real estate stocks in both A shares and H shares rose in the whole month. In terms of H-shares, Baolong Real Estate has a relatively large increase this month, with a monthly increase of 22.82%. Except for a small consolidation at the end of the month, it is basically in an upward channel for the whole month. This is mainly because Deutsche Bank gave Baolong a "buy rating" for the first time at the end of June, and it was also the fifth institution to give Baolong Real Estate a "buy rating" after the release of Baolong’s 2018 financial report, following Citigroup, Dahua Jixian, Agricultural Bank of China International and Southwest Securities (600369), which greatly boosted market confidence.

　　In terms of A-share housing enterprises, the share price of Daming City (600094) experienced two waves of continuous rise in the first week and the middle of this month. Although the overall real estate stocks suffered heavy losses at the end of the month, the overall increase still reached 21.78% in July, which was a big increase among real estate stocks.

　　Other capital operation

　　There is little cooperation between housing enterprises and financial institutions this month. It is worth mentioning that China Aoyuan announced on the 19th that it plans to acquire 13.86% shares of Centennial Life for 3.262 billion yuan, which will become the largest shareholder of Centennial Life after the transaction is completed. In December 2018, Greentown announced that it would acquire 11.55% shares of Centennial Life Insurance for 2.718 billion yuan and gain its control. If the acquisition of Aoyuan landed, it would mean that Greentown would lose control of Centennial Life Insurance. After controlling Centennial Life, in addition to obtaining a financial platform, Aoyuan and Centennial Life can also provide potential opportunities for mutual cooperation in health and wellness industries, which will help both parties to better play their strategic synergy and complementary advantages in business segments, customer resources and customer experience.

This article first appeared on WeChat WeChat official account: Research on Kerui Real Estate. The content of the article belongs to the author’s personal opinion and does not represent Hexun.com’s position. Investors should operate accordingly, at their own risk.

Enhance the sense of innovation and do scientific research with taste.

Innovation is the key to scientific research. According to different research attributes, innovation has different types: original innovation, cutting-edge innovation, technological innovation, integrated innovation, applied innovation and so on. No matter what kind of innovation, the innovation subject needs to have innovative consciousness, put forward innovative ideas, carry out innovative practice and produce innovative results. Innovation consciousness is the premise of scientific innovation activities. Researchers should consciously enhance their innovation consciousness, not follow others’ advice, follow the crowd and chase hot spots, think independently, dare to be the first and find a new way, and on the basis of predecessors’ work, through profound insight, rich imagination, careful thinking and concrete practice, find problems, raise problems and then solve them.

Academician Gao Dingsan, the founder of the Institute of Electronics of Jida University, was keenly aware of the importance of semiconductor devices in the mid-1950s, and took the lead in developing high-power germanium rectifiers and point-contact germanium diodes in China, which started the research of semiconductor devices in China. This innovative consciousness and spirit can be passed down and carried forward among the new generation of young scholars. Professor Feng Li, winner of the National Outstanding Science Foundation and State Key Laboratory of Supramolecular Structures and Materials, used the solid physical and device foundation laid during his undergraduate and doctoral years in the School of Electronics and combined with his years of research practice in the field of organic optoelectronics, put forward and verified a new concept of organic electroluminescence with two-line exciton emission, which broke through the limitations of closed-shell molecules of organic electroluminescent materials, opened up a new field of free-radical open-shell molecular electroluminescence, and wrote a strong stroke for China scholars in the field of organic optoelectronics.

Innovation needs taste. Taste is awe of the profession, demanding of oneself and respect for peers. Taste also reflects the pride, persistence, perfection and craftsman spirit of researchers. Teachers in Jilin University should cultivate innovative consciousness, carry out tasteful research, contribute to mankind, serve the country, serve the society and achieve themselves.

Adhere to the spirit of seeking truth from facts and do meaningful scientific research.

Seeking truth from facts is the key to scientific research. Seeking truth is to pursue scientific truth, discover real phenomena, obtain real data, reveal the essence and connotation of science, and then expand the boundary of human cognition, and use it to transform the world and make it a better place. The process of seeking truth from facts is a painful and happy one, and this process will inevitably encounter many difficulties and challenges, some of which are confusion of thinking methods, some are lack of hardware conditions, and some are shortcomings of the research team. However, no matter what kind of situation you encounter and what kind of situation you are in, as long as you are realistic and do not change your mind, you will open roads and bridge rivers, overcome all kinds of difficulties and obstacles, and finally reach the other side of scientific truth.

Jilin University has an academic tradition of seeking truth from facts, and the old president of Tang Aoqing is a model of seeking truth from facts. In 1986, Mr. Tang Aoqing stepped down as the principal and became the director of the National Natural Science Foundation of China. In addition to his busy management work, he still insisted on the research of polymer solidification theory and scale. In five years, he wrote 104 personal letters to his collaborators and doctoral students in Beijing to discuss the progress of research and the problems he encountered. As early as 1960s, Mr. Tang Aoqing got the sol-gel distribution formula by using the theory of dynamic random branching, and he wanted to get the polymer solidification theory on this basis. However, when dealing with the problem of internal Aa cross-linking, Mr. Tang found the shortcomings of previous work. In his letter to his collaborator, he wrote: "I found that there was an error in the previous derivation of the problem of internal Aa cross-linking. I was aware of this problem when I visited West Germany. After reading your letter, the problem became clearer. I re-derived the formula and attached it. Please ask Comrade Zesheng to do some concrete calculations and verify it to see if it is correct." (Quoted from Tang Aoqing and His Disciples, Xiamen University Press, November 2015, p. 161) Between the lines, Mr. Tang’s scientific spirit of seeking truth in learning is reflected, which is a model for our people to learn, and a scholarly character and spiritual wealth that Jilin University should cherish and inherit.

Professor Liu Shiying, the late famous optoelectronics scientist in the Institute of Electronics, is also a good teacher who is realistic. Mr. Liu is a founding veteran of the Institute of Electronics and one of the founders of the State Key Laboratory of Integrated Optoelectronics. He has made outstanding research achievements in integrated circuits, semiconductor lasers, integrated optoelectronics and organic optoelectronics. He is not only active in thinking, rigorous in academic research, and realistic, but also teaches young teachers and students by example. Whenever young teachers and graduate students report on their scientific research work, Mr. Liu will ask about the details of the experiment and the physical nature of the experimental phenomenon. The young teachers and graduate students who were questioned felt humiliated and embarrassed at that time. However, after they calmed down, they will feel that this kind of realistic style of study is very important, and they will strictly demand themselves and then teach them to their own students, gradually forming a rigorous and realistic style.

Stick to academic integrity and be a convincing good scholar

Academic integrity is the life of academics and also the life of scholars. Academic misconduct or academic anomie not only destroys the atmosphere of academic community, leads to the prevalence of unhealthy trends, but also misleads and interferes with the research of other scholars. If papers based on false data are published, peer scholars will track, repeat and verify these results. When they don’t get the same or similar results, peer scholars will first suspect that there is something wrong with their own experimental methods or details, thus spending a lot of time, energy and resources to repeat experiments, resulting in a lot of waste of time and resources, which is a direct damage to peer scholars. Therefore, adhering to academic integrity is the basic requirement and professional bottom line of scientific research teachers.

In recent years, the alienation tendency of evaluation criteria has led to impetuous wind. Aiming at publishing papers with high impact factors, keeping up with hot spots, frequently switching research directions, not deeply exploring experimental phenomena, not excavating the scientific essence and connotation, and lacking in depth and systematicness in research are also bad habits that need to be broken urgently. Every year, I spend more energy on revising project applications for some teachers. Most of the applications are novel and innovative, and the key scientific issues are concise and accurate, and the research content and scheme are concrete and feasible. The application is carefully written and can express the research to be carried out in the demonstration with accurate language and strict logic. However, some teachers’ project books are in contrast with the published research papers. The reason is that these teachers only pay attention to the appearance of research, neglect to ask and think about the connotation of their own research, and lack deep insight and understanding of the development trend in this field. Pursuing scientific truth and carrying out innovative research, like teaching and educating people, is a sacred and lofty cause and an important mission of universities. We should cultivate the sense of innovation, adhere to the spirit of seeking truth from facts, adhere to academic integrity, and be a good teacher with taste, character and bottom line.

A series of articles on teachers’ morality and the construction of study style;

President Zhang Xi: Some thoughts on the construction of teachers’ morality and study style

Moral Education, Truth-seeking and Innovation —— Speech at the 2020 Teacher’s Day Celebration and Commendation Conference of Jilin University

Seeking Truth and Pursuing Excellence —— Speech at the Opening Ceremony of Class of 2020 Freshmen

Principal Zhang Xi: Practice of Integration of Research and Learning

Professor Liu Zhongshu: Creating Excellent School Spirit and Learning Style and Strengthening the Construction of Teaching Staff

Professor Chi Baorong: The Soul of a Virtue Teacher; Teaching by example is better than teaching by words.

Professor Sun Zhengyu: Supporting teaching with scientific research and cultivating people with theory.

Professor Zhang Hanzhuang: Deepening Curriculum Construction and Practicing Education Mission

Professor Cai Lidong: Shielding the ego from crossing the ID and forging the ego.

Academician Ren Luquan: The cultivation of teachers’ morality lies in seeking truth and the cultivation of study style lies in seeking truth.

Professor Han Xiping: To be a new era teacher with noble morality and responsibility.

Jilin University held a special education report meeting on the construction of teachers’ morality and study style

Professor Jiang Qichuan: Fulfilling the mission and responsibility of a people’s teacher.

Jilin University held a special education report meeting on "Pre-service training of teachers in Jilin University and the construction of teachers’ morality and study style"

Jilin University held the third report meeting on the special education of "Pre-service training for teachers and the construction of teachers’ morality and study style". Professor Zhang Hanzhuang gave a report entitled "Do not forget your initiative mind remembers its mission"

Professor Wei Cuncheng: Teaching and scientific research are complementary.

For more information, please clickTeachers’ morality and the construction of study styleSpecial topic:

　　Author: Yang Zhongyang

　　Recently, "end-to-end" has been on fire in the car circle! Tesla’s benchmark demonstration effect based on the "end-to-end" FSDV12 (fully autonomous driving) scheme, and the rumors of joining China, have driven companies such as "Wei Xiaoli" and service providers such as Huawei and Horizon to turn around and add end-to-end autonomous driving technology.

　　The so-called "end-to-end" actually comes from the concept of deep learning, and English is "end-to-end (E2e)", which means that through an AI model, the final result can be output as long as the original data is input. When it is applied to the field of automatic driving, it means that only one model is needed to convert the sensing information collected by sensors such as camera, millimeter-wave radar and laser radar into specific operating instructions such as the steering angle of the vehicle, the stepping depth of the accelerator pedal and the braking strength, so that the vehicle can realize automatic driving. In the words of He Xiaopeng, the founder of Xpeng Motors, it is "very silky" and more like "human drivers driving".

　　Previously, most autonomous driving systems on the market were traditional modular, that is, a mix-and-match system with artificial and intelligent worlds: perception relied on neural networks, and planning and control used algorithms designed manually by humans. The advantage of this system is that the division of labor is clear, and it is convenient to check and solve the defects in modules. But the problem is that this modular automatic driving system performs well in relatively simple driving tasks, and its ceiling is obvious in the face of complex driving tasks. Even the so-called advanced intelligent driving function of the city, which is far ahead, still has a sense of machinery, and it will also stop when it merges into the expressway and passes through a large intersection.

　　Considering that the core challenge of autonomous driving is to solve endless edge scenes, the cost and time of solving the infinite long tail problem with limited manpower are incalculable, and data and modeling have become an inevitable trend. However, end-to-end, it is also a difficult technical job that needs careful polishing by the master.

　　On the one hand, end-to-end needs massive high-quality data "feeding" training. Unlike the big language model, which can crawl a large amount of text data on the Internet for training, the cost and difficulty of obtaining video data for end-to-end intelligent driving are extremely high. Take Tesla as an example. At present, its FSD has accumulated more than 20 million human driving video clips, and the data collection cost of this scale only needs 5 billion to 8 billion yuan.

　　On the other hand, end-to-end needs the support of powerful computing power. Automatic driving involves technologies and solutions such as lidar, image perception and V2X vehicle-road coordination. Powerful computing power is not only conducive to real-time processing of massive data, reducing data transmission delay, but also better supporting the whole scene for smart cities, smart transportation, high-level autonomous driving and so on. However, the computing power growth of domestic enterprises such as Huawei BU, Baidu Jiyue, Weilai, Ideality, Geely, Great Wall, Tucki, etc. are currently facing major bottlenecks.

　　The problem is that the constraints of computing power and data will significantly affect the development of the algorithm. Although UniAD, an end-to-end autopilot model put forward by domestic academic circles, won the Best Paper Award of CPVR in 2023, which provides a reference direction for domestic enterprises, but UniAD developed under the open-loop verification system and small sample data still needs some engineering transformation and large-scale data training.

　　In addition, the upper and lower limits of the autopilot system will be enlarged end to end. Because the end-to-end construction is a neural network black box, in the process of obtaining a higher upper limit, some of the interpretability of the traditional module scheme is transferred. How to retain the interpretability in the autopilot system and characterize the rules that should not be overstepped, such as don’t run a red light, into the neural network to ensure the end-to-end application and evolution safely, will also be an important topic for regulatory engineers.

　　There are two routes to climb Mount Everest: one is the northern slope of Tibet, China, and the other is the southern slope of Nepal. Whether you choose to climb from the south slope or the north slope, you will eventually reach the same peak. This is similar to the current development path of autonomous driving. Although it is still difficult to determine that end-to-end is the optimal solution or final solution of autonomous driving, this does not hinder the innovation and exploration of enterprises. After all, end-to-end can handle extreme cases better than traditional modular methods, and it represents a more efficient way to reduce the dependence on manual coding. Based on this path, perhaps autonomous driving can lead to a higher stage. (Yang Zhongyang)

On August 28,

State Administration for Market Regulation

Released 5 pieces of automobile recall information continuously,

The brands involved are

Mercedes-Benz, Volkswagen, Great Wall, etc.

A total of 115,276 vehicles were recalled!

Including imported mercedes benz c, E, S,

CLS class, GLC SUV, AMG GT car,

Volkswagen involves Beatles and Scirocco.

And golf series.

Mercedes-Benz (China) Automobile Sales Co., Ltd.

Recall some imported grades C, E, S and CLS.

GLC SUV, AMG GT car

A few days ago, Mercedes-Benz (China) Automobile Sales Co., Ltd. filed a recall plan with the State Administration of Market Supervision according to the requirements of the Regulations on the Management of Defective Automobile Product Recall and the Measures for the Implementation of the Regulations on the Management of Defective Automobile Product Recall, and will recall some imported C-class, E-class, S-class, CLS-class, GLC SUV and AMG GT cars. Details are as follows:

(1) From August 28th, 2020, 146 imported C-class, E-class, S-class, CLS-class and GLC SUV vehicles equipped with 4-cylinder gasoline engines with production dates from March 1st, 2019 to March 12th, 2020 were recalled.

The bolt tightening torque of oil supply pipe and oil return pipe of vehicle turbocharger within the scope of this recall may not be recorded correctly. If the tightening torque does not meet the requirements, the mechanical connection between the oil supply pipe and the oil return pipe of the turbocharger may be affected. There may be oil leakage at the joint, and the leaked oil may come into contact with high-temperature parts, so the fire risk cannot be ruled out and there is a safety hazard.

Mercedes-Benz (China) Automobile Sales Co., Ltd. will check the tightening torque of the oil supply pipe and oil return pipe of the turbocharger for vehicles within the scope of recall free of charge through authorized dealers, and repair them if necessary to eliminate potential safety hazards.

(2) From August 28, 2020, some imported C-class and AMG GT vehicles with production dates from October 12, 2018 to September 30, 2019 were recalled, totaling 1,660 vehicles.

The vehicle ESP system within the scope of this recall may not be suitable for the type of brake installed. If the yaw rate sensor drifts or the brake vacuum supply fails, the ESP system may not respond as expected. This may lead to the inconsistency between ESP intervention and driving conditions, which may increase the risk of collision or injury, and there are potential safety hazards.

Mercedes-Benz (China) Automobile Sales Co., Ltd. will update the ESP software for vehicles within the recalled scope free of charge through authorized dealers to eliminate potential safety hazards.

The authorized service center of Mercedes-Benz will notify the relevant customers of the recall by registered mail. Users can call the service hotline: 400-818-1188 through landline or mobile phone for consultation (service time is 24 hours a day from Monday to Sunday). In addition, you can also visit the website dpac.samr.gov.cn, and follow the WeChat WeChat official account to learn more information and reflect the defect clues.

Fujian Benz Automobile Co., Ltd.

Recall some domestic V-class and Weiting cars.

Recently, Fujian Benz Automobile Co., Ltd. filed a recall plan with the State Administration of Market Supervision according to the requirements of the Regulations on the Management of Defective Automobile Product Recall and the Implementation Measures of the Regulations on the Management of Defective Automobile Product Recall, and decided to recall some domestic V-class and Weiting vehicles with production dates from March 15, 2019 to June 24, 2019, totaling 7,312 vehicles.

Due to the supplier’s production deviation, the mechanical joint between the spline shaft on the transmission shaft and the ball cage on the universal joint is not completely fixed for some vehicles within the scope of this recall, resulting in that the safety clamp spring at the mechanical joint cannot be completely locked in a specific fixing slot, which may damage the universal joint of the transmission shaft, and the damage degree will increase with time. This will lead to unbalanced transmission of the transmission shaft, resulting in jitter, which will then be transmitted to the bottom of the vehicle. In extreme cases, jitter will affect the SRS (Auxiliary Protection System) control unit assembled above the gearbox, and it will be misjudged by the control unit as acceleration or deceleration caused by a collision accident, and the front airbag will be triggered incorrectly, increasing the risk of injury and collision of front passengers; In addition, if the owner continues to drive the vehicle for a long time by ignoring abnormal conditions such as abnormal noise and jitter, the parts will be worn to a certain extent, which will affect the power transmission of the vehicle and even cause power loss, which has potential safety hazards.

Fujian Benz Automobile Co., Ltd. will check whether the transmission shaft is within the affected production date range for the vehicles within the recall range through its authorized service center, and if so, replace the transmission shaft to eliminate potential safety hazards.

Fujian Benz Authorized Service Center will notify relevant users of the recall by registered mail. Users can call the service hotline: 400-818-1188 through landline or mobile phone for consultation (service time is 24 hours a day from Monday to Sunday). In addition, you can also visit websites in dpac.samr.gov.cn and www.recall.org.cn and follow the WeChat WeChat official account to learn more information and reflect the defect clues.

Volkswagen (China) Sales Co., Ltd.

He faw-Volkswagen co., ltd

Recall some imported cars separately.

Recently, Volkswagen (China) Sales Co., Ltd. and FAW-Volkswagen Co., Ltd. filed a recall plan with the State Administration of Market Supervision according to the requirements of the Regulations on the Management of Defective Automobile Product Recall and the Implementation Measures for the Regulations on the Management of Defective Automobile Product Recall, and decided to recall the following vehicles from September 1, 2020:

(1) Volkswagen (China) Sales Co., Ltd.

During the period from May 2, 2011 to August 6, 2015, a total of 14,800 Volkswagen-branded Beetle, Suncool and Golf cars were imported in 2011-2015.

During the period from September 14th, 2011 to June 14th, 2012, a total of 1,084 cars were produced and imported from the model year of 2011-2012.

(2) FAW-Volkswagen Co., Ltd.

During the period from February 8, 2011 to August 31, 2012, some imported Audi A1 and A3 series cars of 2011-2013, totaling 18,497 units.

Due to the manufacturer’s deviation, some vehicles within the scope of this recall have a thin thread seat of the accumulator of the gearbox electromechanical unit. Under high oil pressure, the thread may crack and cause the oil pressure of the system to drop, which will trigger the dashboard warning light to light up; If the user ignores the alarm prompt and continues to use the vehicle, the power transmission may be affected with the development of time, and there are potential safety hazards. Volkswagen (China) Sales Co., Ltd. and FAW-Volkswagen Co., Ltd. will upgrade the software of the electromechanical unit of the vehicle gearbox within the scope of recall free of charge through authorized dealers, so as to eliminate potential safety hazards. In addition, in order to ensure the timely elimination of defects, the upper shell of the electromechanical unit accumulator will be directly replaced for a few vehicles with no applicable software in Audi brand.

Volkswagen (China) Sales Co., Ltd. and FAW-Volkswagen Co., Ltd. will notify the relevant car owners by registered mail. Volkswagen and Seat brand users can learn more about the recall through the customer service hotline of Volkswagen (China) Sales Co., Ltd.: 400-188-0888, and Audi brand users can learn more about the recall through the Audi brand customer service hotline of FAW-Volkswagen Co., Ltd.: 400-817-1666. In addition, you can also visit websites in dpac.samr.gov.cn and www.recall.org.cn and follow the WeChat WeChat official account to learn more information and reflect the defect clues.

Great wall motor co., ltd.

Recall some Great Wall cannons.

A few days ago, Great Wall Motor Co., Ltd. filed a recall plan with the State Administration of Market Supervision according to the requirements of the Regulations on the Management of Defective Automobile Product Recall and the Measures for the Implementation of the Regulations on the Management of Defective Automobile Product Recall. It is decided to recall 71,319 Great Wall Cannon cars produced from September 24, 2019 to August 9, 2020 from September 1, 2020.

Vehicles within the scope of this recall cannot play a sufficient warning role because the vehicle instruction manual does not fully indicate the possible dangers of trailer hooks in special use scenarios, and there is a possibility of misuse in an emergency. In extreme use cases, trailer hooks may break, posing a safety hazard.

Great Wall Motor Co., Ltd. will replace the new version of the electronic instruction manual for vehicles within the scope of recall, put warning labels on trailer hooks at eye-catching positions on the car body to show the danger and avoid misuse, and upgrade the technical service of trailer hooks free of charge to eliminate potential safety hazards.

Emergency measures: If the vehicle is stuck in a car or has a bottoming accident, you should contact a professional rescue to get rid of the vehicle or call 400-666-1990 customer service for rescue.

Great Wall Motor Co., Ltd. will notify the relevant users of the recall by registered mail, telephone and SMS. Users can call the service hotline 400-666-1990 for consultation. In addition, you can also visit websites in dpac.samr.gov.cn and www.recall.org.cn and follow the WeChat WeChat official account to learn more information and reflect the defect clues.

Zhejiang flying saucer automobile manufacturing co., ltd

Recall some Aochi series trucks

Recently, Zhejiang UFO Automobile Manufacturing Co., Ltd. jointly filed a recall plan with the State Administration of Market Supervision and the Ministry of Ecology and Environment in accordance with the requirements of the People’s Republic of China (PRC) Air Pollution Prevention Law, the Regulations on the Management of Defective Automobile Product Recall and the Implementation Measures for the Regulations on the Management of Defective Automobile Product Recall. Since August 28, 2020, a total of 458 vehicles of the Aochi series produced from March 21, 2017 to September 7, 2018 have been recalled.

The vehicles within the scope of this recall have the risk of exceeding the standard emission due to the OBD system calibration problem of the equipped diesel engine.

Zhejiang UFO Automobile Manufacturing Co., Ltd. will write the improved DCU program for vehicles within the recall range free of charge to meet the requirements of motor vehicle emission standards.

Zhejiang UFO Automobile Manufacturing Co., Ltd. will notify relevant users by registered mail, SMS, telephone, etc. through dealers to arrange the recall. Users can call the service hotline: 400-108-5678 through mobile phones or fixed lines for consultation. In addition, you can also visit websites in www.vecc.org.cn, dpac.samr.gov.cn and www.recall.org.cn and follow the WeChat WeChat official account for more information.

Look at your car!

Let all the friends around you have a look ~

Source: official website, State Administration of Market Supervision

Original title: "Emergency recall! Attention Puyang car owners! 》

Read the original text

　　　Yue Kaihan, a German student majoring in China from Zhejiang University who graduated with a master’s degree this year, spent nearly 100 days riding a bicycle from Mohe City, Heilongjiang Province to Sanya City, Hainan Province, with a journey of more than 5,800 kilometers.On the way, he would ask the strangers he met along the way: "What is your China dream?"

　　The answer he got from Wan Li Road becameHis master’s thesis — — The Chinese Dream of the Common People.

　　"The school has always been very supportive of students majoring in China to get out of the classroom and books and get to know the real China through field visits. Yue Kaihan proposed to the instructor to get to know China by riding, and focused on the common people in China ‘ Chinese dream ’ Our understanding has been supported and encouraged by our teachers. The school also specially applied for the project funds for his research. " On November 27th, Lu Yuan, a teacher of China Studies Center of Zhejiang University, told The Paper.

　　Exploring the "Chinese Dream" of Ordinary People by Riding

　　Yue Kaihan’s Chinese name was taken by a friend. His real name is Jorg, and he is 28 years old. He came to China for the first time in 2011. In one year, he learned to use chopsticks and learn Chinese in Chengdu, Sichuan. Out of interest in China culture, Yue Kaihan went to China Center of Zhejiang University to study for a master’s degree in China in 2015.

　　It is understood that the China Studies Center of Zhejiang University has started to recruit and train masters in international cooperation since 2010. Up to now, it has recruited more than 350 international students from more than 50 countries around the world. This major is designed to systematically study China’s social, political, economic and historical degree courses in English, so that students can improve their Chinese level, feel China culture, integrate into China society, and carry out research on China issues.

　　Lu Yuan introduced that China studies is not limited to the classroom, but also encourages students to go deep into China society and let them contact ordinary Chinese, such as farmers and citizens. Through interviews and investigations, they find the problems faced by China society and propose solutions. To this end, on the basis of classroom teaching, each course will set up a field investigation class, and the examination is not limited to the examination paper, but more in the form of project report.

　　"Yue Kaihan thought is mature, have their own ideas, action, he has been to many cities in China. Before the opening report of the paper, he proposed to the instructor to learn about China by riding. The instructor suggested that he combine the research with the topic and write the riding experience as a paper. " Luyuan told The Paper.

　　　Yue Kaihan said that he first heard the word "Chinese Dream" in 2013, and now it has become a high-frequency word in China.But he doesn’t know what the "Chinese dream" is in the eyes of ordinary people in China. To solve this problem, we must visit historical sites and modern buildings in China, visit cities, stop in the countryside, climb mountains and rivers, and ask questions to people of different ages and classes.He also wants to learn more about China.

　　He chose cycling to get to know China, which he thought was natural, environmentally friendly and friendly, and also had high flexibility and freedom. Two months before departure, he conducted assault training, from riding 30 kilometers to 80 kilometers, and then riding from Hangzhou to Shanghai.

　　In order to make the "Riding China" plan not affect his studies, Yue Kaihan completed all the postgraduate courses in one year. He also planned his cycling route very rigorously — — It spans 12 provinces (autonomous regions and municipalities directly under the Central Government) in China, with a total distance of over 5,800 kilometers. He chose Arctic Village, Mohe, Heilongjiang as the starting point of his journey, which is the northernmost place in China, and ended in Sanya, Hainan, passing through big cities such as Beijing and Wuhan, as well as historical sites such as Shaolin Temple and Yin Ruins, as well as many small towns.

　　　Open WeChat official account to write cycling experience.

　　　On May 1, 2016, Yue Kaihan took the second-hand simple folding bicycle given to him by a friend, carried a big backpack, got on the train from Hangzhou to Harbin, and then took the bus to Mohe Arctic Village.

　　　His big backpack is equipped with tents, inner tubes, pumps, cloth strips and other items, as well as electronic products such as mobile phones, tablets, charging treasures and cameras. There are only two sets of clothes to change.

　　　Before the trip, Yue Kaihan also registered on WeChat WeChat official account "Where is Brother Yue going" to record what he saw during the trip. On the day of the trip, he wrote: "If I will pass through the city where you live, please contact me. I am very happy to know your city, listen to your story, and be a couch potato in your home. "

　　　Every time he goes to different cities and meets impressive people, he will write these stories in WeChat official account. For example, on the 57th day of cycling, he was in the birthplace of Chenjiagou Tai Ji Chuan in wen county, Henan Province, and Mr. Li, a teacher from Tai Ji Chuan, provided him with free accommodation. During the conversation, Yue Kaihan found that Mr. Li was originally a solar engineer … …

　　On the way, Yue Kaihan will focus on the differences between urban and rural areas in China, and the different concerns of young people and the elderly. He found that older people are less concerned about economic interests and have no desire to earn a lot of money. They are more concerned about the stability and fairness of the whole society. Young people will talk more about education and personal future development, and occasionally mention personal interests, fitness and other issues. The difference between urban and rural areas is obvious. People in the village want to live a happy and peaceful life, while people in the city want to do what they want.

　　　Asking people along the way "What is your dream of China" is a question that Yue Kaihan must ask everywhere. He repeated this question hundreds of times.

　　　He thinks the answer he got is very true.The "Chinese dream" of a female restaurant owner in Mohe Arctic Village is to help the elderly improve their quality of life and reduce the burden on the younger generation. A worker in Yangshuo, Guangxi dreams of a well-off and rich material life; A computer student in Changchun University hopes to realize his personal ideal and make contributions to society … …

　　Yue Kaihan came to the conclusion that in the eyes of most ordinary people, the "Chinese dream" is related to the improvement of living environment, the prosperity of the country, social harmony and social reform. The "Chinese dream" of individual citizens mainly focuses on practical aspects, such as wealth, happiness, self-realization and family. Officially, the "Chinese Dream" is the rejuvenation of the whole country and nation. Even though the people are vague about the specific ways to realize their dreams, they all agree that only the rejuvenation of the nation can bring happiness to the small family.

The business review of the 2022 annual board of directors of Kede CNC is as follows:

　　I. Discussion and analysis of business conditions

In 2022, the company around the annual business objectives, relying on the advantages of the whole industrial chain and product technology, continued to strive to open up the market, increase production capacity, break through the influence of various unfavorable factors, and maintained a good momentum of steady growth. The income from main business, net profit after deducting non-recurring gains and losses, new orders and output all increased rapidly. The net profit attributable to owners of the parent company decreased slightly year-on-year due to the higher government subsidies included in non-recurring income in the same period of last year.

(a) the main business situation

In 2022, the company’s operating income was 315 million yuan, a year-on-year increase of 24.39%; The net profit attributable to shareholders of listed companies was 60,453,800 yuan, a decrease of 17.04% compared with the same period of last year. The main reason for the decrease in net profit was the high amount of government subsidies included in the current non-recurring gains in 2021, which had a great impact on the current net profit growth (specifically, the impact of non-recurring gains and losses on net profit in 2022 was about 22,264,600 yuan, and the impact of non-recurring gains and losses on net profit in 2021 was about 22,264,600 yuan). The net profit after deducting non-recurring gains and losses was 38,189,100 yuan, a year-on-year increase of 45.12%; Gross profit margin of main business is 42.40%; The output of the whole machine was 230 units, up 45.57% year-on-year; During the reporting period, new orders increased by 30% year-on-year.

(2) New breakthroughs have been made in market expansion.

The company insists on import substitution as the core, and on the basis of deepening cooperation with original customers and deepening and strengthening the aerospace field, it strives to open up new fields, new customers and other industrial fields. In 2022, the company made new progress in overseas orders, new energy vehicles, energy, knives, machinery and equipment.

1. Breakthrough growth was achieved in overseas market sales.

In 2022, the company expanded overseas sales channels, opened European and Asian markets, and exported five-axis CNC machine tools, and the export orders increased rapidly. In 2022, the company’s export order products include five-axis vertical machining center, five-axis horizontal machining center, five-axis horizontal milling and turning compound machining center and many other products.

2. Vigorously promote the expansion of new customers.

In 2022, the company actively explored new customers in various fields, and made new progress in energy, tools, automobiles and other fields in addition to adding many new customers in typical military and military supporting fields.

The automobile field is an important downstream industry of machine tools, which is closely related to the machine tool industry. With the rising situation of new energy vehicles, the machine tool industry will usher in new opportunities. Through the comprehensive distribution and direct sales, the company has effectively expanded many customers in the automotive field. Business expansion has been achieved in the processing fields of new energy vehicles such as battery motor housings, bogies, front and rear axles and transmission housings.

The upgrading and transformation of the energy field provides further application potential for five-axis machine tools, such as the processing of core components such as compressors, pumps and gears in wind power and water conservancy industries, and the processing of shaft components related to high-pressure injection in oil production wells. The company has expanded high-quality customers in the energy field in many regions of China and reached a long-term cooperative partnership.

Tool industry is the basic industry in machinery manufacturing industry and major technical fields. Because the materials of CNC tools are generally cemented carbide, high-performance high-speed steel and superhard materials, grinding has become the mainstream processing technology of CNC tools. The company’s five-axis tool grinding center with high grinding rigidity and high stability can be used to process all kinds of cutters with high precision and complex shapes, such as milling cutters, drills, reamers and taps. In 2022, the company expanded many new partners in this field on the basis of strengthening cooperation with important partners in the original key tool field.

With the overall rapid development of domestic high-end manufacturing industry, the demand for five-axis CNC machine tools is increasing day by day, and there is a shortage of related professionals. By introducing high-end five-axis CNC machine tools and establishing training bases, domestic colleges and universities learn core technologies and cultivate professionals by combining systematic courses with practical experience. As a five-axis machine tool manufacturer with the whole industrial chain, the company has many years of cooperation experience with universities. During the reporting period, the company provided many universities with a variety of equipment, such as a five-axis vertical machining center and a horizontal milling and turning compound machining center, which helped to cultivate high-tech talents in the field of numerical control, helped universities to have a deeper understanding of five-axis numerical control programming and system operation, as well as core technologies such as machine tool structure design, motorized spindle and direct-drive turntable. At the same time, the operation training of five-axis CNC machine tools of Kede CNC brand was advanced to universities, which was the brand.

3. Continue to deepen the cooperation with existing customers.

During the reporting period, the company continued to deepen its cooperation with its original customers, and constantly improved its personalized service level and solution ability, which was recognized by more customers. In 2022, the repurchase rate of high-end CNC machine tools added by the company was about 40%.

4. New products continue to be favored by the market.

During the reporting period, the company launched four new products: KTM120 five-axis horizontal boring and milling machine compound machining center, Dechuang series KCX1200TM five-axis horizontal milling machine compound machining center, Dechuang series DMC50 five-axis vertical machining center and KBTG1000 high-speed blade tip grinding machining center.

KTM120 Five-axis Linkage Horizontal Boring and Milling Machine Compound Machining Center marked the Austrian WFL products, and the sales unit price was high. As soon as it was launched, it reached a cooperation with an aircraft landing gear manufacturer to achieve sales. Aircraft landing gear is one of the most difficult parts in the aviation field, and the same type of processing equipment in China depends on imports. This product will have a broader market space in the field of large aircraft in the future. Dechuang series KCX1200TM five-axis horizontal milling compound machining center can meet the processing needs of parts in medical, new energy vehicles, molds, wind power, aerospace and other industries. The first product is to sign a sales contract with a company in the field of nuclear equipment, which is used for processing parts such as opening and closing nuts of nuclear equipment. Dechuang series DMC50 five-axis vertical machining center is suitable for high-efficiency and high-precision machining of parts in aerospace, cutting tools, precision molds, medical devices, new energy vehicles and other industries. KBTG1000 high-speed blade tip grinding center, this product is mainly used for grinding the rotor blade tips of aero-engines and marine engines, focusing on the requirements of efficient and high-precision automatic machining of integral impellers and bladed disks (axial flow) of aero-engines.

As of the publication date of this report, all the above new products have formed batch orders in aviation, aerospace, nuclear power of warships, automobiles and overseas markets.

(3) R&D projects and technological achievements

During the reporting period, the company continued to invest in research and development, with a total investment of 114,378,100 yuan, accounting for 36.26% of the operating income. The company has hosted or participated in 7 national-level projects, and received 41.32 million yuan from the central government, 1 provincial-level project, and 600,000 yuan from the central government to guide local scientific and technological development. The new project involves the development of high-speed bridge five-axis gantry machining center, five-axis horizontal milling compound machining center and other equipment, as well as the performance improvement and engineering application verification of key functional components such as turntable, swing head and motorized spindle.

The advantages of the company are comprehensive product layout, high degree of self-control and continuous innovation. During the reporting period, the company completed the development of four new products and put them on the market, including KTM120 five-axis horizontal boring and milling machine compound machining center, Dechuang series KCX1200TM five-axis horizontal milling machine compound machining center, Dechuang series DMC50 five-axis vertical machining center, KBTG1000 high-speed blade tip grinding machining center, in which the high-speed blade tip grinding machining center is a new special machine based on the original four general models and two special models.

During the reporting period, the company added 55 authorized patents, including 7 international invention patents and 6 domestic invention patents. By December 31st, 2022, the company and its holding subsidiaries had 251 authorized patents, including 93 domestic invention patents, 13 international invention patents, 139 utility model patents and 6 design patents. There are 60 software copyrights and 3 works copyrights. The company has participated in the formulation of 24 national standards and 10 industry and group standards.

(IV) Production capacity construction progressed smoothly.

During the reporting period, with the company’s self-made five-axis machining center and the introduction of horizontal plus flexible manufacturing line, gantry production line, horizontal machining center and gantry machining center, the machining ability of functional parts was further improved. The whole machine production capacity of the company has steadily increased. In 2022, the whole machine production reached 230 sets (including multi-model and multi-specification products such as five-axis vertical machining center, horizontal machining center, gantry machining center, horizontal milling and turning compound machining center and five-axis tool grinding center), with a year-on-year increase of 45.57%.

(V) Financing situation

During the reporting period, the company initiated and completed the issuance of RMB ordinary shares (A shares) to specific targets in 2022, with 2,457,757 non-public shares, which were issued to National Manufacturing Transformation and Upgrading Fund Co., Ltd. and Guotai Junan Securities Co., Ltd., raising a total of RMB 159,999,980.70, and the newly added shares were registered and settled in China Securities on July 29, 2022.

This issuance has injected capital into the company to realize the rapid development and expanded application of domestic high-end equipment, and further accelerate the construction of production capacity, which will help to provide more "Made in China" high-end equipment for aviation, aerospace, military industry, energy, automobiles, knives and many other fields.

II. Description of the main business, business model, industry situation and research and development of the company during the reporting period:

(a) the main business, main products or services.

1. Main business

The company has always been committed to the technical breakthrough, design innovation, fine manufacturing and standard formulation of five-axis CNC machine tools, high-grade CNC systems and key functional components, and has formed the core technology with independent intellectual property rights, which has the ability to achieve the company’s important established strategic goal of "import substitution". The company’s main business is five-axis CNC machine tools, high-grade CNC systems, key functional components and flexible automation production lines. The company’s main products include serialized five-axis vertical (including turning milling), five-axis horizontal (including turning milling), five-axis horizontal milling compound, five-axis gantry four general machining centers, five-axis tool grinding, five-axis blade grinding center and high-speed blade grinding center, as well as high-end CNC systems serving high-end CNC machine tools, servo drives, serialized motors, serialized sensing products, motorized spindles, milling heads, turntables and other key functional components.

On the basis of comprehensive product layout, in addition to the high-end KD series built for the military field, the company has developed a cost-effective Dechuang series for the processing requirements of the civil field to meet the needs of diversified customers. At the same time, the company provides flexible automatic production line business, that is, taking high-end CNC machine tools as the core, integrating fixture and tool scheme, matching with automatic logistics system, warehousing system, etc., relying on computer control and combining various production modes, flexible and automatic production of various products can be realized. It has the characteristics of high equipment utilization rate, strong product adaptability, high product quality and high production efficiency.

For a long time, China’s high-end five-axis CNC machine tools have relied heavily on imports. The main reason is that its development needs first-class precision machine tool design and manufacturing technology, and it can only be realized by close cooperation with cutting-edge CNC technology. It is extremely difficult to develop core technologies and form industrialization capabilities. Different from traditional CNC machine tools, the company’s five-axis CNC machine tools have the advantage of supporting the machining ability of complex spatial features, making it easier to realize multi-process compound machining and having higher machining efficiency and accuracy. Through years of technical research and accumulation, the company has formed core technical capabilities such as high-grade CNC system technology, universal and special five-axis CNC machine tool technology, direct-drive functional parts technology, high-performance servo drive system technology, high-performance sensing and detection technology, high-performance high/low-speed torque motor technology and high-performance motorized spindle motor technology.

The company’s five-axis CNC machine tool products mainly serve the processing and manufacturing of complex and precise parts in the fields of aviation, aerospace, military industry and so on, and are the necessary way to process turbine machinery parts such as impellers, bladed disks and blades. In addition, there are many successful cases in civil industries such as core parts of power generation equipment, cemented carbide tools, petroleum industry, precision molds, and automobile parts manufacturing. The CNC system and key functional components such as torque motor, spindle motor, servo motor, motorized spindle, laser interferometer, laser tool setting instrument, encoder, turntable, milling machine, etc. developed by the company belong to the core key components of high-end CNC machine tools, which directly determine the function, performance, reliability and profitability of high-end CNC machine tools. In recent years, high-grade CNC systems and key functional components have been sold separately.

Pre-sales technical service and after-sales maintenance service are also important competitive advantages of the company. Through pre-sales technical support, the company customizes a complete set of processing technology schemes, trial processing and turnkey projects for users to promote sales orders and establish stable, close and long-term cooperative relations with customers. The company’s after-sales service support benefits from the company’s high autonomy rate and localization advantage, which has faster response speed and lower service cost than the transnational after-sales service of international CNC machine tool enterprises. Pre-sales and after-sales personnel have mastered the most advanced market information, grasped the development trend of the industry, collected new directions, new processes and product improvement opinions and fed them back to the R&D system in time, forming a closed-loop control of the company’s product quality and realizing a benign iterative upgrade of the products. It is predicted that the supporting businesses such as pre-sales and after-sales services will also enter a period of rapid growth in the future, which can contribute more benefits to the company.

2. Main products and services

The company’s main products are high-end CNC system products with independent intellectual property rights and core technologies, high-end CNC machine tools and key functional components, which can realize the research and development and manufacturing of various types of products in high-end equipment manufacturing in aviation, aerospace, weapons and civil fields, with independent and controllable core technologies and strong "import substitution" ability.

(1) High-grade CNC system products

High-end CNC system is the control core of high-end CNC machine tools. Among them, GNC series high-end CNC system has achieved several iterations of GNC60/61/62, and GDU series servo driver has achieved several iterations of GDU/GDUA/GDUB/GDUC, reaching the same level of advanced foreign products. At the same time, the products are open and adaptable, which is an important core component of the company’s high-end CNC machine tools. The high-end CNC system independently developed by the company, because of its excellent design framework and rich functions, provides strong support for the application of various types of high-end CNC machine tools and the development of new products. The ability to independently develop high-end CNC systems is also an important strategic layout direction of many foreign high-end CNC machine tool development enterprises.

(2) High-end CNC machine tools

The company’s high-end CNC machine tools include four general machining centers (five-axis vertical, five-axis horizontal, five-axis horizontal milling and turning compound, five-axis gantry machining center) and three special machining centers (five-axis tool grinding center, five-axis blade machine and high-speed blade tip grinding center), totaling seven series of machining center products. In terms of product layout, there are both high-end KD series for the military field and cost-effective Dechuang series for the civilian field. The product line covers most high-end CNC machine tools with processing types and sizes in the field of high-end CNC machine tools, and the performance of the products is basically the same as that of advanced foreign products, so it can meet the processing needs of multi-type and multi-size components in most high-end manufacturing industries such as aviation, aerospace, weapons, energy and automobiles.

(3) Key functional components

The company’s key functional parts products include serialized motors, serialized sensing products, motorized spindles, milling heads, turntables, etc. The key functional parts products have been fully applied to various types of high-end CNC machine tools products of the company. Thanks to a large amount of technical accumulation of independent research and development of key functional components, the adaptability and response speed of collaborative research and development between high-end CNC machine tool products and key functional components are obvious, which provides strong support for the company’s products to quickly respond to market demand, and can also serve aviation, aerospace, military industry, mechanical equipment, robots, automation and other fields as independent products.

(4) Flexible automatic production line

In order to meet users’ demand for high-quality development of manufacturing such as improving production efficiency, automation and flexibility, the company provides users with a complete solution of flexible automatic production line, which covers a complete turnkey production line including high-end machine tools, fixtures, cutters, process plans, logistics systems, storage systems and production control systems. The solution has a high localization rate and can be applied to aerospace, automobiles, mechanical processing and many other fields to realize the flexibility of parts from blank to finished products.

Schematic diagram of flexible automatic production line To sum up, the company’s main products have independent intellectual property rights and core technologies, and can realize the research and development and manufacturing of various types of products in high-end equipment manufacturing such as aviation and aerospace, from high-end CNC systems and key functional components to high-end CNC machine tools, with independent control and strong "import substitution" ability. The company’s main products are rich in specifications and comprehensive in layout, and have distinctive characteristics in the domestic high-end machine tool manufacturing field, forming a large number of successful cases of processing key parts of high-end equipment represented by "the jewel in the industrial crown" aero engines, which have been well received by users.

(II) Main business models

1. Purchasing mode

The company’s procurement mode mainly includes two links: procurement strategy formulation and supplier management. The company implements planned procurement according to the production and R&D plan. The specific mode is as follows:

(1) Multi-price comparison and bargaining: The company selects suppliers within the scope of the Qualified Suppliers List to conduct multi-price comparison and bargaining to ensure the highest cost performance and reasonable procurement cost of purchased materials. By strengthening the continuous tracking and in-depth analysis of the main raw material markets such as metal and nonmetal materials, parts and products, electronic components, etc., the company makes purchasing plans according to the production and R&D plans, and adjusts the purchasing scale during the peak and trough periods, so as to minimize the possible adverse impact of raw material price fluctuations.

(2) Centralized procurement and strategic cooperation: for products with long delivery cycle, the company adopts a centralized procurement strategy, and the procurement of such materials is the responsibility of the company’s materials department; For important suppliers, the company adopts strategic cooperation to ensure the timely supply and stable quality of main raw materials.

The main procurement process of the company’s raw materials is as follows:

2. Production mode

The company’s products are characterized by the customization function on the general platform, so as to meet the individual needs of different customers. Therefore, the company generally adopts the production mode of "fixing production by sales", based on the order contract, carries out product design and development according to the needs of users, formulates the process route, and organizes production in combination with the delivery plan and production capacity. For the standard components, based on market forecast and historical order trend in the same period, moderate pre-production will be carried out.

In terms of production organization, the company generally follows the principle of "fixing production by sales and keeping reasonable inventory of standard components", and according to the sales plan and actual sales situation, formulates the production plan and issues it to the production workshop to organize production. For highly customized products, because different users have different requirements on product configuration, performance, parameters, etc., the company will deliver the customized requirements to the R&D center for design and development. After both parties reach an agreement, they will sign a sales contract for stocking and production.

In terms of production operations: the production department strictly implements the process control requirements determined by the design department and the production technology center, and implements the production plan. The Quality Management Department sets up key control points according to product performance requirements and related processes, and formulates control items and target values, and supervises production operators to strictly implement process requirements and operation instructions.

The company entrusts some non-core processes and non-core parts to external units for processing and production, and the external processing expenses account for a low proportion of the current main cost. External processing price is mainly based on processing difficulty, processing cost and other factors, and is determined through price comparison and negotiation.

3. Sales model

At present, the company mainly focuses on direct sales, supplemented by distribution.

(1) Direct selling mode

First of all, the company combines its own technical characteristics and advantages, fully investigates the market demand, carries out user industry analysis, deepens the understanding of high-end user needs through cooperation with leading user enterprises and scientific research institutes, accurately defines products, cooperates with users to carry out process verification, rapidly iterates and accelerates product maturity, gradually forms application demonstrations, expands and forms excellent cases, expands good influence in target industries, forms influence radiation on leading enterprises and their supporting enterprises, and accelerates the formation of good user reputation in the market; Secondly, in recent years, the company has actively participated in various professional exhibitions at home and abroad, such as China International CNC Machine Tool Exhibition (CIMT), China CNC Machine Tool Exhibition (CCMT), China International Industry Fair (CIIF), Taiwan, China Machine Tool Exhibition (TMBA), Russian International Machine Tool Exhibition (METALLOOBRABOTKA), Chongqing Lijia Exhibition, Qingdao International Machine Tool Exhibition, CIE Industry Expo, Shenzhen Greater Bay Area Expo, etc., and concentrated on releasing new products and technologies and displaying a large number of application cases. At the same time, the company actively publishes papers or new product information in authoritative magazines in related industries to expand the company’s influence in the industry; And expand business through new media to enhance the company’s brand awareness.

At present, the direct selling market is divided into East China, North China, Northwest China, South China, Southwest China, Central China and Northeast China according to their market maturity, and each region has a regional sales director.

The direct selling model is supported by the pre-sales technical ability, and promotes sales by customizing a complete set of processing solutions and turnkey projects for users. Pre-sales technology department makes process plan and sample trial production for users, and the company’s process technology output ability greatly enhances customer stickiness and promotes the completion of documents. In addition to effectively promoting sales, we also have the most advanced market information, truly understand the needs of users, grasp the development trend, new direction and new technology of the industry, and give timely feedback to the company’s R&D system, so as to promote product technology upgrading.

At the same time, the company established a training system to serve users through multi-channel training mode, which solved the phenomenon of "five-axis technology is difficult to get started" and "high-grade machine tools are not used well".

The company’s pre-sales technical service model is the core competitiveness of the company’s sales, which has obvious advantages compared with foreign manufacturers in the domestic market.

(2) Distribution mode

At present, the company’s distribution mode is mainly based on reporting projects and buyout mode. The distributor’s main role is to obtain users’ needs and report the project to the company’s sales department; After obtaining the information, coordinate the pre-sales support personnel to follow up the project and carry out scheme design, trial processing and other links; Authorized dealers to bid, and the company provides technical support; Companies sign contracts with distributors, and distributors sign contracts with end users. The company gives priority to the dealers who have the sales experience of well-known foreign five-axis machine tool brands and are proficient in the user’s industry technology.

The main sales processes of the company’s main products are as follows:

4. R&D mode

The company has a sound research and development system to support the company’s overall product research and development and product life cycle management. At the whole company level, research institutes, design institutes, production technology departments, marketing departments, materials departments, production and quality departments constitute a complete product development process. The marketing department put forward the product development demand, and the research institute and design institute completed the project establishment, product R&D design, process development and opened up the trial production and testing process of products. The production and quality departments are involved in the technical preparation of new product production from the process development stage to ensure that the production technical data of products are smoothly transferred to the production system. The materials department cooperates with product development and is responsible for the procurement of various raw materials and equipment.

The company’s new product development project management is divided into four stages: project establishment, design, trial production and project completion. After the product is mass-produced, the R&D department will also assist the production department to continuously improve the mass-produced products.

The company formulates control procedures for new product design and development, clearly defines the process of new product development and design management, and defines the work processes such as project initiation stage, design stage, trial production stage and project completion stage. Process monitoring is accompanied by the whole process to ensure project management progress and work quality, effectively control research and development costs, ensure that products can meet the project objectives and relevant requirements of customers, and at the same time ensure that products meet the requirements of environmental and occupational health and safety management systems and the provisions of relevant laws and regulations.

(3) the industry situation

1. The development stage, basic characteristics and main technical threshold of the industry.

The company is a high-tech enterprise engaged in the design, research and development, production, sales and service of five-axis CNC machine tools and their key functional components, and high-end CNC systems. It is one of the few innovative enterprises in China that independently master high-end CNC systems and high-end CNC machine tools. According to the National Economic Industry Classification (GB/T4754-2017), the company’s industry is "C342 Metal Processing Machinery Manufacturing"; According to the Guiding Catalogue of Key Products and Services of Strategic Emerging Industries (revised in 2016), the company’s main products conform to "2.1 Intelligent Manufacturing Equipment Industry 2.1.4 Intelligent Processing Equipment" in the catalogue.

Five-axis CNC machine tool is a kind of machine tool with high technology content and high precision, which is specially used for machining complex curved surfaces. It has the advantages of wide application range, fine machining quality and high working efficiency, and is considered to be the most important machining tool for machining key components in aerospace, shipbuilding, precision instruments, power generation and other industries. According to the data released by QYResearch, the global five-axis CNC machine tool market sales will reach US$ 6.755 billion in 2020, and will increase year by year thereafter. It is estimated that it will reach US$ 13.835 billion in 2027, with a compound growth rate of about 10.79% from 2020 to 2027. In 2020, the domestic five-axis CNC machine tool market will be 665 million US dollars, accounting for 9.85% of the global market, and it is expected to reach 1.589 billion US dollars by 2027, when its share in the global market will reach 11.49%, with a compound growth rate of 13.25% from 2020 to 2027, which is higher than the global market.

The development of five-axis CNC machine tools needs strong precision machine tool design and manufacturing technology, and it can only be realized by close cooperation with cutting-edge CNC technology, so it is extremely difficult to develop and industrialize products. The development of five-axis CNC machine tools in China started late. At present, there are few domestic enterprises that can independently develop and produce, and the supply of domestic products is difficult to meet the domestic market demand. The domestic market is mainly occupied by multinational companies with hundreds of years of machine tool production experience in developed industrial countries such as Germany, Japan and the United States. However, in recent years, a number of five-axis CNC machine tool enterprises, including companies, have emerged in China, and their products have gradually been recognized by the market, gradually forming an import substitution trend.

2. Analysis of the industry position of the company and its changes.

The company is one of the few innovative enterprises in China with dual R&D systems for high-end CNC systems and high-end CNC machine tools. Through years of continuous R&D and innovation, it has formed the product layout of high-end CNC system products, high-end CNC machine tools and key functional components with independent intellectual property rights and core technologies. It can realize the R&D and manufacturing of various types of products in aviation, aerospace and other high-end equipment manufacturing, with independent and controllable core technologies and strong "import substitution" ability. The company’s main products are rich in specifications and comprehensive in layout, and have distinctive characteristics in the domestic high-end machine tool manufacturing field.

On the one hand, international advanced high-end machine tool enterprises, such as Haas, Otaru, Madzak, Fanuc, Demaji, and Fidia, have continuously extended their own technology chains and industrial chains, adopted personalized numerical control systems and some key functional components independently developed, and some enterprises have also sold them to the outside world. This business model not only ensures the safety and controllability of products, but also has higher market core competitiveness. The development model of the whole industrial chain, the whole talent chain and the whole technology chain established by the company can promote the continuous iterative improvement of the company’s own product technology and lay a solid foundation for the company’s products to benchmark international advanced products. At the same time, it can guarantee the technical safety of the company’s own products and the safety of the national high-end equipment industry, and make contributions to solving some "stuck neck" problems in the field of high-end equipment.

On the other hand, the localization rate of domestic high-end machine tools is less than 10%, and there is huge room for import substitution. However, the number of domestic enterprises engaged in high-end machine tools and their production and sales volume are still far from those of developed countries, and high-end CNC systems and key functional components are still mainly imported. With the rapid development of domestic high-end equipment, the demand for domestic CNC systems and key functional components is constantly increasing. The company can provide domestic enterprises with mature high-end CNC systems and key functional components, and at the same time meet all kinds of customization needs. The company can form strategic cooperation with domestic machine tool manufacturers, provide high-quality domestic CNC systems and key functional components solutions for domestic equipment, break foreign technology monopoly and promote innovation and promotion of domestic machine tool industry.

The company has presided over or undertaken 29 major national science and technology projects and 17 other national and local R&D projects. The company has participated in the formulation of 24 national standards and 10 industry and group standards. Authorized 93 domestic invention patents and 13 international invention patents. The five-axis CNC machine tools, high-grade CNC systems and key functional components independently developed by the company are the first sets in China, which have played a leading role in the breakthrough of CNC core technology in the field of high-end CNC machine tools in China and played a core role in realizing the strategic goal of "import substitution" of the company.

According to the data of China Machine Tool Industry Yearbook in 2021, there are 45 enterprises producing machining center products in the annual report of China machine tool industry in 2020, including Jinan No.2 Machine Tool, Shenyang Machine Tool, () and other large domestic state-owned enterprises and comparable listed companies (), Haitian Seiko, Guosheng Zhike, etc. The counted enterprises basically cover most domestic key and large machining center manufacturing enterprises in the industry.

From the perspective of the sales volume of the association statistics, the proportion of five-axis vertical machining centers sold by the company in 2020 is 13.62%; From the perspective of sales amount, the proportion of five-axis vertical machining centers sold by the company is 22.24%. No matter from the perspective of sales volume or sales amount, the market share of the five-axis vertical machining center sold by the company is at a high level.

3. The development of new technologies, (), new formats and new models during the reporting period and the future development trend.

According to Foresight Industry Research Institute’s Report on Market Demand Forecast and Investment Strategic Planning of CNC Machine Tool Industry in China, it is predicted that the market scale of CNC machine tools in China will grow steadily and rapidly in the future, reaching 572.8 billion yuan by 2024.

Forecast of China CNC Machine Tool Market Scale from 2019 to 2024

1) The promotion and popularization of new technology-five-axis linkage machining technology is the future development direction of the industry.

It is necessary to process complex curved surfaces in industry. Many key parts in ships, airplanes, rockets, satellites and spaceships have certain particularities and processing difficulties, which cannot be met by traditional processing methods. Only by using five-axis linkage, high-speed and high-precision CNC machine tools can the processing requirements be met.

With the trend of automobile lightweight, the traditional parts composed of multiple parts are integrated into a single part, and the processing characteristics of parts are changed from plane to space. At present, the major international suppliers of automobile parts processing equipment, including rabo, Madzak and Demaji, use a large number of five-axis machine tools to set up production lines.

2) New format-demand transformation from single machine tool that only completes a single process to flexible manufacturing unit that completes multiple processes.

Flexible manufacturing unit (FMU) is a manufacturing unit composed of single or multiple five-axis machining centers or compound machining centers and small automatic logistics devices to meet the requirements of efficient processing of multi-variety and small batch parts.

With the intensification of competition and rising costs of downstream production enterprises, especially the sharp rise of labor production costs and the increasingly frequent shortage of labor, more unmanned or less humanized manufacturing systems have begun to appear, and downstream customers’ demand for flexible manufacturing units that respond quickly to the processing market with multiple varieties and small batches will rise. Flexible manufacturing unit will appear as a complete set of equipment of "CNC machine tool+small logistics device (industrial robot, automatic pallet library, truss manipulator, etc.)", which will solve the pain point of the sharp rise of labor production cost in time and realize unmanned or less people.

3) New mode-from single product sales to intelligent manufacturing system integration scheme.

For a long time, most CNC machine tool enterprises in China only focus on producing machine tool products in a certain field, and do not have the ability to provide solutions for automated production lines. In recent years, downstream enterprises have put forward new demands for machine tool suppliers, and tend to cooperate with suppliers who have complete equipment production capacity, provide complete solutions or undertake more complex engineering general contracting projects and automation system transformation capabilities. Intelligent manufacturing system integrators with "turnkey" engineering capability of automated, flexible and intelligent production lines will be able to meet customers’ personalized, customized and differentiated production needs, thus improving customer stickiness. In addition, the encouragement of national and local policies for the construction of automated production lines in manufacturing industry will certainly promote the transformation of intelligent manufacturing equipment suppliers into intelligent manufacturing system integration solution providers.

(IV) Core technologies and R&D progress

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

The company has mastered the core technology of independent research and development of the main products, five-axis CNC machine tools, high-grade CNC systems and key functional components. Relying on the complete talent chain, technology chain and industrial chain, under the support of continuous high-intensity independent innovation, a number of key core technologies leading domestically and advanced internationally have been formed and mastered. It mainly includes high-grade CNC system technology, universal five-axis CNC machine tool technology, special five-axis CNC machine tool technology, direct-drive functional component technology, high-performance servo drive system technology, high-performance sensing and detection technology, high-performance low-speed torque motor technology, high-performance high-speed torque motor technology, high-performance motorized spindle motor technology, etc., which realizes the effective transformation of technical achievements. The function, control accuracy and processing efficiency of the product have reached the international advanced level. Mastering independent and controllable core technologies has played a core role in the company’s strategic goal of "import substitution".

During the reporting period, on the basis of the original four general technology platforms and two special technology platforms, the company continued to deepen research and development. In order to promote the high-speed and high-quality development of aviation industry, improve the performance of domestic aero-engines, and realize the machining of rotor blade tips of aero-engines by using domestic industrial parent machines, the company successfully launched the technical platform of high-speed blade tip grinding center to form a special plane for high-speed blade tip grinding machining center. Focusing on the common models and high-end CNC system technology in the core technology field, the company has added 7 internationally authorized invention patents and 2 domestically authorized invention patents, mainly aiming at the technical iteration of five-axis horizontal machining center, five-axis turning milling center and GNC6X series CNC system.

Realize multi-directional improvement and promotion in basic common technology;

1. A breakthrough has been made in the installation process of super-high excess cone expansion sleeve for high-speed motor rotor applied to the motorized spindle of CNC machine tools, and the process verification has been successfully completed;

2. The torque motor used for the spindle of CNC machine tools is designed for lifting, and the torque coefficient of three models has been improved by 1.5-2 times, which can effectively reduce the power consumption of machine tools;

3. Further develop advanced measurement cycle function, additional function and adaptive processing detection function suitable for various models;

4. Upgrade the hardware platform of CNC system controller, greatly improve the system computing power and communication efficiency, and enrich the types of communication access;

5. Provide process support for special machine tools such as tip grinding, tooth scraping and multi-channel linkage, provide the process package of fine and excellent curved surface, improve the machining accuracy and efficiency of five axes, expand the access ability of peripheral equipment such as tool setting instrument, and enrich the shaft debugging function;

6. Develop a new generation of servo current loop software and hardware technology, which reduces the terminal control vibration and servo error, and then improves the surface processing quality of the workpiece;

7. In the position feedback link, the sine and cosine signal subdivision algorithm is upgraded, which effectively reduces the motor speed fluctuation and improves the spindle processing effect;

8. A new trajectory optimization and speed planning algorithm is designed to further improve the machining performance of high-speed and high-precision surfaces, meet the machining requirements of complex surfaces, give full play to the mechanical properties of machine tools, and finish the machining of complex surfaces with high efficiency and high quality.

The continuous optimization and improvement of core technologies have fully consolidated the company’s technological advantages and further enhanced the market competitiveness of products.

2. R&D achievements obtained during the reporting period

(1) Intellectual property rights acquired during the reporting period

By December 31st, 2022, the company and its holding subsidiaries had owned 251 patents, including 106 invention patents (including 13 international invention patents and 93 domestic invention patents), 139 utility model patents and 6 design patents, 60 computer software copyrights, 57 trademarks and 3 works copyrights. There are 226 patents under application, including 87 international invention patents, 132 domestic invention patents and 7 utility model patents.

During the reporting period, the company granted 55 new patents, including 7 international invention patents, 6 domestic invention patents and 42 utility model patents. There are 90 new patents, including 65 international invention patents, 18 domestic invention patents and 7 utility model patents.

(2) Awards won during the reporting period

In February 2022, the company’s independent and controllable platform-based high-grade horizontal five-axis machining center won the award of "2021′ Kechuang China’ list-key technology to break through shortcomings in equipment manufacturing field" issued by China Association for Science and Technology; In October 2022, the project "Development and Application of Serialized High Power Density, High Efficiency, High Performance and High Reliability Servo Drive Device" was selected by Dalian Science and Technology Bureau as the first prize of Dalian Science and Technology Progress Award in 2022; In October 2022, KMC600SU, a high-dynamic five-axis vertical machining center, was selected as "Top Ten Product Quality" by cmtba. In November 2022, the company was awarded the "Mechanical Industry Quality Award" by China Machinery Industry Quality Management Association; In November 2022, the company’s project "Key Technologies and Applications of Digital Workshop Interconnection Based on Information Model" was selected as the third prize of Science and Technology Progress Award by China Instrumentation Society; In November 2022, the company’s R&D team was awarded the title of "Excellent Innovation Team in Mechanical Industry" by China Machinery Industry Federation; In December 2022, the company was recognized as the provincial enterprise technology center in 2022 by the Liaoning Provincial Department of Industry and Information Technology.

(3) Research and development of new products during the reporting period

During the reporting period, on the basis of the original four general technical platforms and two special technical platforms, the company continued to deepen research and development, and successfully launched the third special technical platform-the high-speed blade tip grinding center technical platform. The equipment of high-speed blade tip grinding center has the characteristics of "high", "fine" and "sharp" in technical level compared with Spanish Danobate products. The introduction of this series of products will help to promote the high-speed and high-quality development of aviation industry, improve the performance of domestic aero-engines, realize the grinding of rotor blade tips of aero-engines and marine engines, and fill the domestic gap. At the same time, three new products were successfully developed and put on the market to achieve sales. Including KD series KTM120 five-axis horizontal boring and milling machine compound machining center, Dechuang series KCX1200TM five-axis horizontal milling machine compound machining center and Dechuang series DMC50 five-axis vertical machining center. New products quickly get market response and realize sales. For aviation, aerospace, weapons, energy, ships, automobiles, mechanical equipment, medical equipment and other industries, large-scale shaft and special-shaped rotary parts are processed efficiently. Typical customers are customers who process key parts such as aircraft landing gear, nuclear equipment and missile body.

3. Table of R&D Investment Reasons for the significant changes in the total R&D investment compared with the previous year

During the reporting period, R&D investment increased by 47.44% compared with the same period of last year, mainly because the company undertook more national R&D projects, and many projects entered the stage of high R&D investment during the reporting period.

4. Research projects

The situation shows that there is none.

5. R&D personnel

6. Other notes:

Iii. Analysis of core competitiveness during the reporting period

(A) analysis of core competitiveness

1, adhere to independent innovation, continuous technology accumulation

The company attaches great importance to the research and development of innovative technologies and adheres to the development strategy of independent and controllable core technologies. By December 31st, 2022, the company had 106 authorized invention patents (including 93 domestic invention patents and 13 international invention patents), 139 utility model patents, 6 design patents, 60 software copyrights, 57 trademarks and 3 works copyrights. He has undertaken 29 national science and technology major projects "High-grade CNC machine tools and basic manufacturing equipment" and 17 other national and local R&D projects; The company has participated in the formulation of 24 national standards and 10 industry and group standards. The core technologies and patents mastered by the company and the continuous improvement of independent innovation ability are one of the keys to the company’s core competitiveness.

During the reporting period, on the basis of the original four general technical platforms and two special technical platforms, the company continued to deepen research and development, and successfully launched the third special technical platform-the high-speed blade tip grinding center technical platform. The equipment of high-speed blade tip grinding center has the characteristics of "high", "fine" and "sharp" in technical level compared with Spanish Danobate products. The introduction of this series of products will help to promote the high-speed and high-quality development of aviation industry, improve the performance of domestic aero-engines, realize the grinding of rotor blade tips of aero-engines and marine engines, and fill the gaps in China. At the same time, the company introduced three new products, including KTM120 five-axis horizontal boring and milling machine compound machining center of KD series, KCX1200TM five-axis horizontal milling machine compound machining center of Dechuang series and DMC50 five-axis vertical machining center of Dechuang series. The continuous introduction and iteration of new products make the company maintain a strong market competitiveness.

2. The core key functional components are self-controllable, and high-end machine tools can be replaced by imports.

The company has a complete talent chain, technology chain and industrial chain. The autonomy rate of the main product five-axis CNC machine tools reaches 85%, and it has mastered the core key technologies of high-grade CNC systems, key functional components and the whole industrial chain of five-axis CNC machine tools. Products are widely used in aviation, aerospace, weapons, ships, automobiles, molds, energy, machinery and equipment, electronics and other industrial fields to achieve import substitution. The GNC series high-grade numerical control system independently developed by the company is benchmarked against Siemens 840D. The report issued by China Machine Tool Supervision and Monitoring Center shows that the GNC series high-grade numerical control system of Kede CNC can reach 95.85% of Siemens 840D in function. The company’s self-developed and self-made key functional components are comprehensive in product types and rich in specifications, including torque motors, spindle motors, servo motors, motorized spindles, turntables, milling heads, laser interferometers, laser tool alignment instruments, wireless probes, laser rulers, encoders and so on. Functional parts products have been matched with the company’s self-produced five-axis CNC machine tools in batches, and batch independent sales have been realized.

3. Double R&D system of high-end CNC system and high-end CNC machine tool, and more efficient iterative promotion.

The company is one of the few innovative enterprises with high-end CNC system and high-end CNC machine tool dual R&D system in China, and one of the few high-tech enterprises based on comprehensive and independent innovation technology system in China at present. It can plan and design machine tool structure, optimize machine tool configuration elements, and customize functional components and functional development for machine tool host according to user’s technological requirements. With the support of dual R&D system, the company’s five-axis CNC machine tools, its key functional components and high-grade CNC system have achieved rapid iterative improvement in function, performance and reliability from the market end to the R&D end.

4. Pre-sales technology and after-sales service have obvious advantages and provide professional solutions.

With the multi-disciplinary and multi-professional pre-sales technical team, the company can tailor a complete set of high-end manufacturing and processing solutions for users in aviation, aerospace, weapons, ships, automobiles, molds, energy, mechanical equipment, electronics and other industries, provide them with flexible and diverse five-axis CNC machine tools, open the functions of high-end CNC systems to customers to the greatest extent, support personalized configuration adjustment, and realize the optimal use of the company’s products. In the after-sales service stage, in view of the technical problems encountered by customers in actual processing and manufacturing, the company can provide quick response and cost-controlled after-sales solutions to meet customers’ multi-level needs. Efficient pre-sale, in-sale and after-sale market service ability is one of the important factors affecting the company’s market profitability.

5. Facing the future manufacturing development needs, provide a complete production line turnkey scheme.

Thanks to the high localization rate and autonomy rate, relying on the complete talent chain, technology chain and industrial chain foundation, combined with the application accumulation of deep cooperation among users in many fields, the company has the turnkey engineering ability of flexible production line, which can meet the personalized, customized and differentiated production needs of customers. Solve the downstream customers’ demand for multi-variety and small batch processing, solve the pain point of the sharp rise in labor production costs, and realize unmanned or less people. With the further accumulation and promotion of the company’s flexible production line business, it will provide complete domestic production line solutions for users in more fields in the future, reduce the difficulty of the transformation and upgrading of users’ manufacturing industry, help users quickly realize the transformation and upgrading of their manufacturing capabilities, and create higher profits for users.

6. In-depth cooperation among key users in many fields and application demonstration to promote market growth.

The company has established four general machining centers and three special machining center technology platforms, which can realize the rapid application verification of high-grade CNC systems and key functional components. At the same time, the company has established a cooperation mode of "co-innovation, co-promotion and co-benefit" with key enterprises in aviation, aerospace, automobile, cutting tools, energy, ships, weapons and other industries. With the support of the national science and technology major project "High-grade CNC machine tools and basic manufacturing equipment" and other platforms, the company’s products have been verified in the processing and manufacturing of key parts of key users in various fields, which not only realizes the rapid verification and upgrading of products, but also plays an application demonstration role in the user industry.

7. Innovative team advantages

In the process of independent innovation, the company has built and precipitated a multi-level, multi-disciplinary and multi-disciplinary team of innovative talents, and established an innovative technical team headed by general manager Chen Hu. At the end of the reporting period, there were 186 R&D teams, with professionals covering R&D, design, manufacturing, assembly, testing and other fields of high-end equipment at home and abroad. Chen Hu, the general manager, graduated from the Department of Precision Instruments and Mechanics in Tsinghua University with a doctorate degree. He served as the leader of the working group of the national fieldbus standard alliance for numerical control systems, enjoyed the special allowance of the State Council, and was selected as the young and middle-aged scientific and technological innovation leader in the "Ten Thousand Talents Program" of the Central Organization Department and the Ministry of Science and Technology. Dr. Chen Hu is a senior expert in China’s CNC system and CNC machine tool industry. He has been engaged in the research and development of high-end CNC systems and high-end CNC machine tools for a long time, and led the company’s technical team to conquer all kinds of high-end five-axis CNC machine tools and their key functional components and high-end CNC systems, and established a complete CNC technology chain and industry that attracted the attention of the industry.

8. Brand advantage

The company is a national high-tech enterprise, awarded the title of "Little Giant" by the Ministry of Industry and Information Technology, and recognized as the provincial enterprise technology center in 2022 by the Liaoning Provincial Department of Industry and Information Technology. High-end CNC machine tools have won the Chun Yan Prize in machine tool industry for many times, and the products of KMC800U five-axis linkage vertical machining center have entered the "Supply Catalogue of Domestic High-end CNC Machine Tools in Military Industry", and KMC600SU high-dynamic five-axis linkage vertical machining center has been selected as "Top Ten Product Quality" by cmtba. The project "Five-axis high-quality and high-efficiency precision machining complete process and manufacturing system for aerospace complex components and its demonstration application" won the first prize of scientific and technological progress in China machinery industry, and the project "Key technologies, standards and applications of open CNC system" won the first prize of scientific and technological progress in Liaoning province. The project "Development and application of serialized high power density, high efficiency, high performance and high reliability servo drive device" was selected by Dalian Science and Technology Bureau as the first prize of Dalian Science and Technology Award in 2022, and the project "Key technologies and applications of digital workshop interconnection based on information model" was awarded by China. The company’s products and services have won a good market reputation in key industries such as aviation, aerospace and weapons. The company has established a complete talent chain, technology chain and industrial chain, which has enabled the company to have stronger continuous innovation ability. The mode of "co-innovation, co-promotion and co-benefit" established by the company and users has enabled the company to have better market response ability.The company will continue to provide users with complete domestic high-end manufacturing solutions, constantly promote the application of high-end CNC systems and key functional components in other machine tool enterprises in the machine tool industry, and strive to build the company into a leading enterprise at home and abroad in the field of high-end manufacturing.

(II) Events that have seriously affected the core competitiveness of the company during the reporting period, impact analysis and countermeasures.

Fourth, risk factors

(A) Not yet profitable risk

(2) Risk of sharp decline in performance or loss

(C) core competitiveness risks

At present, the company’s main business products continue to be developed in aerospace, automobile, machinery, mold and other fields, and the demand for the company’s products varies in different fields. If the company can’t quickly adapt to the process differentiation demand in different fields, quickly carry out technical iterative upgrading, enrich the varieties of five-axis CNC machine tools, provide differentiated five-axis CNC machine tools that meet the processing needs in different fields, and provide users with the best processing scheme, it will face adverse effects such as the products can’t adapt to the new market demand, resulting in slower revenue growth.

(4) Operational risks

1, the risk of increased competition

For a long time, the domestic market of five-axis CNC machine tools with the highest technology content is mainly occupied by multinational companies with hundreds of years of machine tool production experience in developed industrial countries such as Germany, Japan and the United States. Domestic independent production capacity is concentrated in the low-end market, and there are very few China enterprises that can independently develop five-axis CNC machine tools.

In recent years, due to the realistic demand of China’s aerospace engine, marine propeller, heavy generator rotor and other strategic equipment industries for high-end CNC machine tools, the state has continuously increased its support for the high-end CNC machine tool industry, and the technical level of China’s high-end CNC machine tool industry has been continuously improved. The performance and function of five-axis CNC machine tools produced by a few excellent domestic manufacturers can meet the needs of import substitution. The gradual rise of high-end CNC machine tool manufacturers in China may attract the attention of competitors and intensify competition. Coupled with the rapid growth of China’s high-end CNC machine tool market and the increasing awareness of the importance of import substitution, it will attract more potential entrants. Therefore, the company faces the risk of intensified market competition.

2. The risk that large foreign-funded enterprises still occupy the main market share in high-end segments.

Most of the large foreign-funded enterprises in the industry are large enterprises integrating upstream functional components and CNC system production, whole machine manufacturing and product sales. Based on the accumulation of industrial countries in architecture design, processing technology, industrial scale and talent echelon for hundreds of years, the reliability and accuracy of its high-end industrial products have obvious advantages over China’s emerging technology enterprises. Therefore, in the field of five-axis CNC machine tools, CNC systems and key functional components with high technical difficulty, downstream users in China still mainly choose foreign advanced products under the condition of free import, resulting in the products of large foreign-funded enterprises still occupying the main market share in the segmentation field.

3. Risks of upstream raw material procurement

The key functional parts of the company are mainly produced independently, and the external procurement is mainly standard parts, but the parts such as guide rails, lead screws and bearings are still mainly purchased externally. In the future, if the international trade friction intensifies, technical protection is strengthened or the demand of competitors increases, the parts such as guide rails, lead screws and bearings will face the risk of sharp price increase or prolonged supply cycle, which will adversely affect the company’s production and operation.

(V) Financial risks

1. Risk of fluctuation of gross profit margin

During the reporting period, the company’s main users were the aerospace industry, and its customization requirements for high-end CNC machine tools were higher in terms of processing accuracy and processing efficiency, and its gross profit margin was relatively high. With the gradual acceleration of the company’s marketization process, the company’s products are expanding into many fields such as precision molds, automobiles, clean energy and construction machinery. Due to the differences in customized configuration of high-end CNC machine tools used by different industries and users, the gross profit margin of related products will also be different, and the change of downstream customer structure may make the overall gross profit margin of the company fluctuate. Moreover, in order to meet the downstream market demand, industry competitors are also investing in or increasing the research and development and production of five-axis CNC machine tools. If the market competition intensifies in the future, the national policy is adjusted or the company fails to maintain the leading position in products, and the selling price of products and the purchasing price of raw materials are adversely changed, the company’s gross profit margin is also at risk of decline.

2. The risk of bad debts caused by the increase in the balance of accounts receivable.

The company has made provision for bad debts for accounts receivable according to the accounting standards. The company’s accounts receivable scale increases with the growth of operating income. If the economic situation worsens or customers have major operational difficulties, the company will face the risk of difficulties in collecting accounts receivable.

(VI) Industry risks

As an important part of intelligent equipment manufacturing industry, high-grade CNC machine tools are strategic industries for national economic and social development. The state has issued a series of encouragement policies to support and promote the development of China’s high-end CNC machine tools and basic equipment manufacturing industry, and enhance industrial innovation ability and international competitiveness. With China’s military modernization and the transformation and upgrading of manufacturing industry, the demand for independent control of core technologies is increasingly urgent, and the country’s industrial policy continues to increase. If the support of relevant national industrial policies is weakened in the future, it will have a negative impact on the company’s development.

(VII) Macro-environmental risks

The company’s downstream customers are mainly military enterprises that process aero-engines and missile engines, as well as civil manufacturing enterprises in the fields of precision molds, automobiles, clean energy, domestic commercial aircraft and construction machinery. The development of industries where downstream customers are located is highly correlated with the macroeconomic cycle. The adjustment of macroeconomic policies and its periodic fluctuations will have a great impact on the structural upgrading of downstream industries, as well as the operating conditions of end customers, capital turnover speed and fixed assets investment decisions, thus affecting the demand for high-end CNC machine tools.

If the macroeconomic growth rate continues to decline in the future and the downstream industries are depressed for a long time, it may exceed the company’s ability to cope through customer structure adjustment and internal tapping, which will have a great adverse impact on the company’s operation for a period of time.

(8) Risks related to depositary receipts

(9) Other major risks.

V. Discussion and analysis of the company’s future development

(A) the industry pattern and trends

1. For a long time, domestic CNC machine tools have been in a situation of "low-end civil war, mid-end competition and high-end failure", and the high-end market has been occupied by foreign brands.

Developed countries and regions have a long history in the industry of advanced manufacturing equipment such as high-end CNC machine tools, and related enterprises have accumulated advantages in technology, brand and capital, and have the first-Mover advantage, occupying the high-end market. The domestic market of five-axis CNC machine tools with the highest technology content is mainly occupied by multinational companies with hundreds of years of machine tool production experience in developed industrial countries such as Germany, Japan and the United States. The domestic independent production capacity is concentrated in the low-end market, and there are very few China enterprises that can independently develop five-axis CNC machine tools. According to the Outline of the Development of Machinery Industry in the 14th Five-Year Plan, at present, the self-sufficiency rate of high-end CNC machine tools in China is less than 10%, which basically depends on imports. Therefore, the main competitors of China’s five-axis CNC machine tool enterprises represented by the company are mainly international manufacturers.

2. China is a big machine tool consumer, attracting a large number of international brand CNC machine tool enterprises to stay in the China market.

China has become the most important machine tool consumption market in the world. According to the data of German Machine Tool Manufacturers Association (VDW), the consumption of machine tools in Chinese mainland in 2021 was 23.6 billion euros, up 27% year-on-year, accounting for about 34% of the global market. However, on the whole, China’s machine tool industry presents the development characteristics of "big but not strong", and the field of high-end CNC machine tools is still a weak link with strong import dependence.

According to the data of cmtba, in 2022, the import volume of metal processing machine tools in China reached US$ 6.6 billion, of which the total amount of imported machining centers was US$ 2.37 billion. The average price of imported machining centers increased significantly year-on-year, the proportion of imported high-end machining centers increased, and there was huge room for domestic substitution.

In April 2022, Nippon Denso (which owns Mitsubishi Heavy Industries, OKK and other machine tool enterprises) expanded its factory area in Pinghu, Zhejiang Province from the original planned 60,000 square meters to 200,000 square meters to produce gear processing machine tools. At the same time, Demajisen Seiki invested 100 million US dollars to build Pinghu factory, with an estimated annual output of 2,200 machining centers. In the same year, Demajisen Seiki opened Tianjin Green Factory and Shanghai Medical Device Technology Center. In June, 2022, German Wheeler Xile Machine Tool (Qingdao) Company laid the foundation stone for the new Jimo factory covering an area of 73,000 square meters, and it is estimated that it will achieve the production of 300 five-axis and horizontal processing machine tools. In July 2022, the foundation stone was laid for the second phase factory of German (SW) Esway Machine Tool Co., Ltd., and China will become the largest overseas R&D and manufacturing base in the world, with an annual production capacity of about 350 machining centers. Thus, the continuous investment of foreign-funded enterprises in China market shows the high prosperity and development space of domestic five-axis machine tool industry.

3. China machine tool industry is transforming into a high-end field.

Five-axis CNC technology is one of the important standards to measure the manufacturing ability and technical level of complex precision parts in a country. Five-axis CNC machine tool is the only means to solve the cutting of key industrial products such as aerospace and aero-engine impeller, impeller, blade and marine propeller. From the Batumi List after World War II to the Wassenaar Agreement after the Cold War, the developed countries in the west have always adopted the five-axis CNC system and five-axis CNC machine tools as strategic materials to implement the export license system, and imposed strict technical blockade and export restrictions on many countries, including China.

After decades of development, the domestic CNC machine tool industry has been developing independently and drawing on foreign experience. From scratch, it has grown continuously, resulting in such established enterprises as Shenyang Machine Tool (000410.SZ) and Qinchuan Machine Tool (000837.SZ), which are in the forefront of the world, as well as a number of core design technologies and manufacturing processes such as Kede CNC, which can provide high performance for their own dedicated application fields and product types.

In recent years, with the help of favorable market conditions such as the transformation of China’s manufacturing industry, the rising demand for high-end CNC machine tools, and the huge import substitution space, such emerging manufacturers have made great efforts to develop their own products and technical level, enhanced their financial strength through public financing and other means, achieved remarkable development, and rapidly increased their market share.

4. The rapid development of high-end manufacturing industry has brought new development opportunities for domestic high-end machine tools.

At present, China is in an important stage of transformation from a manufacturing power to a manufacturing power. The intelligent manufacturing equipment industry is the basic guarantee for the adjustment and upgrading of the entire economic structure and the leading industry for the transformation and upgrading of the national economy. In the new round of industrial upgrading, high-end manufacturing industry will gradually replace simple manufacturing industry, and manufacturing industry will gradually change from labor-intensive industry to technology-intensive industry. This transformation and upgrading will also promote the technological upgrading of the intelligent manufacturing equipment industry, which will greatly increase the market demand of middle and high-end CNC machine tools. High-end CNC machine tools are mainly used in aviation, aerospace, nuclear, electronics, ships, weapons, energy, automobiles, molds, knives and other key industries, especially aviation, aerospace and military industries. The demand for localization is urgent, the stock needs to be updated urgently, and the market growth is expected.

Taking the aviation industry as an example, high-end CNC machine tools mainly serve the processing of key parts of military aircraft and civil aircraft. In the civil aircraft market, Comac China has launched three classes of passenger aircraft, namely ARJ21, C919 and CR929. On December 9, 2022, Comac China delivered the world’s first C919 large passenger plane to China Eastern Airlines, marking a new milestone in the development of large aircraft. According to the "2022 Shanghai Science and Technology Progress Report" issued by the Shanghai, China Municipal Science and Technology Commission, "by the end of 2022, the C919 large passenger aircraft had received 1,035 orders from 32 customers; In December 2022, the ARJ21 new regional aircraft was delivered to the first overseas customer, Indonesian Lingya Airlines. ARJ21 received 690 orders from 25 customers and delivered a total of 100 aircraft to 9 domestic and foreign customers. " According to the Market Forecast Annual Report of Comac China (2022-2041) issued by Comac China, with the steady rise of China’s economy, China’s civil aviation industry will enter a period of development quality improvement and pattern expansion. By 2041, the fleet size of China will reach 10,007, accounting for 21.1% of the global passenger aircraft fleet. China aviation market will become the largest single aviation market in the world.

According to the report on the draft government budget released by the National People’s Congress on March 5, 2023, China’s military budget in 2023 was 1,553.7 billion yuan, up 7.2% year-on-year, and the increase rate was 0.1 percentage point higher than that in 2022. It was also the third consecutive year since 2021 that China’s military budget rose slightly, and the situation of strengthening the army was urgent. At present, the international environment is deteriorating, regional conflicts and confrontation between great powers are escalating, and it is reasonable and urgent to speed up national defense investment. China’s military industry is still in the stage of compensatory development. The aerospace and military industries, represented by missiles, rockets and satellites, have entered the stage of rapid expansion of production, and high-end CNC machine tools have played a strong support and guarantee role in aviation, aerospace and military industries.

In addition to the urgent demand for five-axis CNC machine tools in key industries such as aviation, aerospace and military industry, with the transformation of automobile to lightweight and integration, "one-piece die casting" forms a variety of special-shaped components, which provides more opportunities for five-axis CNC machine tools in finishing. The processing of battery, motor housing, reducer housing, bogie, front and rear axle and other parts of new energy vehicles has become a new growth point of five-axis machine tools. According to the latest data from China Association of Automobile Manufacturers, in 2022, the production and sales of new energy vehicles reached 7.058 million and 6.887 million respectively, up by 96.9% and 93.4% year-on-year, and the market share reached 25.6%. With the continuous expansion of the new energy automobile industry, the integrated processing equipment and automatic production line of automobile parts will usher in more development opportunities. At the same time, due to insufficient overseas supply and greatly enhanced export competitiveness of China automobile enterprises, automobile exports exceeded 3 million vehicles in 2022, up 54.4% year-on-year, effectively boosting the overall growth of the industry.

Tool is a tool used for cutting in mechanical manufacturing, and it is the basic industry in mechanical manufacturing and major technical fields, accounting for about 90% of the whole mechanical processing workload, which directly determines the production level of mechanical manufacturing. According to the data of cmtba, China Customs and Forward-looking Industry Research Institute, in 2022, the tool export value was 23.187 billion yuan, up 2.98% year-on-year; The import value of cutting tools was 9.732 billion yuan, down 8.47% year-on-year. The export value is obviously greater than the import value, and the dependence on imports continues to decline. The continuous increase of China’s tool export shows that domestic tool products occupy an important position in the world tool market. China needs to import more than 1,000 five-axis tool grinders every year, and the company’s five-axis tool grinding center is one of the few equipment in China that can grind complex tools such as ball end mill and corrugated knives, and has a good market prospect.

5. Support of national industrial policies

As an important part of equipment manufacturing industry, CNC machine tools have become one of the important material bases of national industrial modernization. Our government has always attached great importance to the development of CNC machine tool industry and its sub-sectors, and has successively issued a series of relevant policies to guide industry participants to increase R&D investment, strengthen innovation awareness, break through technical bottlenecks, improve the effective supply of common technologies and high-end products, and meet the market demand in downstream areas.

On May 8, 2015, the State Council officially issued "Made in China 2025", which became the action program for guiding the adjustment of industrial structure and upgrading of manufacturing industry, and then implementing the strategy of building a strong country. High-end equipment is the foundation of manufacturing transformation. In order to promote the transformation and upgrading of manufacturing industry, the Chinese government has vigorously promoted the development of high-end equipment industry and issued a series of industrial policies. In 2018, the Bureau of Statistics issued the Classification of Strategic Emerging Industries (2018), which listed metal cutting machine tools, metal forming machine tools, machine tool control systems, machine tool functional parts and accessories as "intelligent manufacturing equipment industry" in the "high-end equipment manufacturing industry". In November 2019, thirteen ministries and commissions, including the Ministry of Industry and Information Technology and the National Development and Reform Commission, jointly issued the "Special Action Plan for Improving the Design Capability of Manufacturing Industry (2019-2022)", clearly pointing out that in the field of high-end CNC machine tools, it is necessary to achieve a breakthrough in original design, strengthen the key design of high-end equipment manufacturing industry, and focus on breaking through the system development platform and servo mechanism design. In March, 2021, the Fourth Session of the 13th National People’s Congress voted to pass the 14th Five-Year Plan for National Economic and Social Development in People’s Republic of China (PRC) and the Outline of Long-term Goals in 2035. The Outline emphasizes promoting the optimization and upgrading of manufacturing industry, deeply implementing intelligent manufacturing and green manufacturing projects, developing a new service-oriented manufacturing model, promoting the high-end intelligent greening of manufacturing industry, cultivating advanced manufacturing clusters, and promoting the innovative development of high-end CNC machine tools and other industries.

Therefore, the new round of industrial structure adjustment and upgrading is bound to replace the traditional manufacturing industry with advanced manufacturing industry. This transformation and upgrading will greatly increase the update demand of high-performance CNC machine tools as one of the industrial mother machines. The State Council’s Opinions of the State Council on Accelerating the Revitalization of Equipment Manufacturing Industry, High-grade CNC Machine Tools and Basic Manufacturing Equipment, and China Machinery Industry Federation’s Outline for the Development of Machinery Industry in the Tenth Five-Year Plan all provide strong policy support for the development of high-grade CNC machine tool industry represented by five-axis CNC machine tools.

(II) Company development strategy

As a technology-intensive enterprise, the company adheres to the development strategy of independent and controllable core technology. Adhere to the technology platform route, and customize the design with common technology to maximize the product value. By establishing a management system in line with the company’s strategic objectives, improving the company’s organizational structure with modern enterprise management system and corporate governance structure, providing customers with high-quality products and services with technological innovation, and rationally expanding the production scale by using the capital market, the company’s comprehensive competitiveness and sustainable development ability will be continuously improved to meet the diversified and personalized needs of different users and continue to create value for customers.

Based on the existing four universal five-axis technology platforms and three special plane series, the company will integrate special processing and efficient processing technology, improve the high-low product series, and complete the national layout of R&D, production, service and talents. On the basis of maintaining the market advantages of small and medium-sized aero-engines, missile engines, high-precision inertial navigation and missile body parts, we will increase the market share of key parts processing equipment such as large engines and aircraft structural parts; In view of the demand for processing equipment in the fields of automobiles, molds, knives, mechanical equipment and energy, the company gradually exerted its strength to expand its share in the civilian products market; Pay attention to the emerging market demand in electric vehicles, motion control and other fields, and realize the sales extension of key functional components, so as to become a new kinetic energy for high-speed income growth; Improve the complete solution ability of automated production line to meet the market business needs. Independent incubation of special motors, new sensors and other products in a timely manner, exploring new areas of the company’s growth.

1. Technical strategy

(1) adhere to the technology platform.

Focusing on four general five-axis technology platforms (vertical plus, horizontal plus, gantry and horizontal milling car) and three special five-axis technology platforms (tool grinding, blade machine and high-speed blade tip grinding), the company has carried out technology extension, adhered to the technology platform route, and gradually integrated external resources while relying on its own technology accumulation. Focus on modularization and standardization of unit technology, so as to facilitate the reuse of core technology, on the one hand, achieve the effect of maximizing value, on the other hand, it is easy to expand the application of technology to other fields to realize the independent evolution and development of unit technology.

(2) Attach importance to engineering ability

Guide the research and development direction with the market technical demand, promote the engineering and commercialization of scientific research results by using the technology platform, and form various products that meet the market demand; Engineering capabilities, including market research and demand analysis, product definition, performance optimization iteration, etc., are built as core competitiveness different from universities and other research forces.

(3) Establish the concept of open innovation.

Establish an "open, integrated, inclusive and innovative" corporate culture, build a socialized R&D platform with R&D as the core, promote the integration with technical resources around the industry, and improve the overall integration of products. Deeply cultivate institutions and personnel at all levels in the user industry to grasp the development trend of the industry and seize market opportunities; Recruit and train professionals in various industries, build a professional self-operation team, and realize independent accounting in manufacturing, marketing and other institutions.

2. Business strategy

(1) Internal business strategy

First, master the core research and development capabilities. Resolutely guide the research and development direction with market demand, and make use of platform advantages and technology accumulation advantages to achieve rapid engineering and rapid iteration.

Second, build a professional manufacturing system. Improve production planning ability, supply chain management ability and quality control ability; Form a complete, clear and controllable production management system, from functional components to the whole machine, form a vertical line management mechanism, and have the ability to expand and copy or support their own production capacity at any time.

Third, the implementation of human resources strategy. Excavate all kinds of outstanding talents and set up specialized teams (sales, technology and production) for specific industries; Improve the equity incentive and performance appraisal system, and realize the common growth of talents and companies through shareholding platforms.

(2) foreign business strategy

The company will strengthen its core pre-sales and after-sales capabilities. Improve the pre-sales plan ability and service ability, and issue pre-sales plans to drive relevant R&D and production work; Improve after-sales ability, improve response speed and problem solving efficiency. In addition, the company will strengthen the export standards, and solve the problem of the company’s current insufficient production capacity by integrating outsourcing resources and low-matching series of cooperative production.

3. Product strategy

The company will take the brand value of Kede CNC as the core, focus on the national strategic policy support, and take five-axis CNC machine tools as the carrier to build the brand value of Kede CNC and establish a good reputation in the industry; A complete system from providing five-axis complete machine equipment to providing flexible units and then to flexible production lines. Gradually complete the systematic layout of functional components, and master the independent research ability of core functional components such as CNC system, motor and motorized spindle, sensor and turntable. Further expand the professional radiation of components, based on the reputation of machine tools, expand the application fields of components, and promote the application from machine tools to aerospace, aviation, automobiles, mechanical equipment and other fields. In terms of product layout, it will be dominated by high-low distribution and differentiated structure. High-end models will bring high added value and high profits, and ordinary mass production models will ensure the liquidity of enterprises.

(3) Business plan

1. Actively expand the business scale and complete the construction of fundraising projects.

In order to meet the needs of the company’s development strategy, according to the company’s actual situation, actively explore and study the company’s new business and new customer expansion work, adhere to import substitution as the core, develop and improve other industrial fields on the basis of deepening and strengthening the aerospace field, give full play to the advantages of the whole industrial chain, full technology chain and full talent chain, and gain a foothold in the market with efficient solutions, cost-effective products and high reliability. Combined with the actual situation of obtaining investment funds, we will complete the construction of investment projects, rapidly increase production capacity and respond to market demand.

2. Continue to introduce scientific and technological talents and enhance technical reserves.

On the basis of existing personnel, the company will introduce all kinds of technical talents as needed, optimize the talent structure, attract high-end talents, and provide sufficient technical talent reserves for the subsequent development of the company. In terms of technology development, the company will optimize and improve the existing technology, develop the technology of high-end CNC machine tools and related core functional components with its own intellectual property rights according to the ever-developing demand trend, and actively explore cooperation with universities at home and abroad to maintain technological leadership.

3. Improve management ability and ensure product quality.

With the expansion of the company’s production scale, especially the future fundraising projects will be put into production and operation, which will put forward higher requirements for the company’s management ability. In the future, the company will complete the improvement of the whole process management software of processing and manufacturing, improve the existing management efficiency, realize the whole process visual target management of the project, ensure the traceability of the whole processing and manufacturing process, and better guarantee the quality control of equipment.

Eighteen institutes in the First Academy of Aerospace Science and Technology Group are high-tech research institutes specializing in scientific research and production of aerospace servo products, and they are pioneers and leaders of aerospace servo technology in China. Therefore, the business strategy of "leading aerospace servo and serving the land, sea, air and sky" is to integrate gas, hydraulic, machinery, control, electronics, electrical, software, computer, etc., and the related business has been extended to aerospace, navigation, aviation and many other fields.

According to the needs of organizational restructuring and business development, the 18 th Institute decided to openly recruit some positions in the government, and the relevant matters are hereby announced as follows:

I. Recruitment positions

Second, the job responsibilities and qualifications

(1) Strategic planner

(1) Job responsibilities:

1 responsible for the strategic management system (including system) construction;

2. To be responsible for conducting research around the major issues that are overall, strategic and forward-looking, and forming research reports;

3. Be responsible for analyzing the internal and external environment of the Institute, tracking the development trends of the industry and benchmarking companies in the industry, conducting analysis and forming an analysis and research report;

4. Responsible for strategic partners and establish relationships;

5. Organize to study and formulate the medium-and long-term comprehensive development strategy, five-year plan and three-year rolling plan of the Institute, carry out evaluation and form a report;

6. Be responsible for formulating the No.1 document of the Party and government and the annual comprehensive plan; Organize the construction of performance appraisal system; Carry out internal operation analysis of the institute and prepare analysis reports regularly;

7. Be responsible for organizing the cockpit construction of intelligent decision-making data;

8. Responsible for the management of the main business;

9. Responsible for the daily coordination and management of the office of the Strategic Management Committee.

(2) Requirements:

1. Master degree or above with two years’ working experience;

2. Have certain financial expertise;

3. Have CET-4 or above, and be able to translate industry research reports at home and abroad;

4. Strong writing, language expression and communication skills;

5. Experience in industry research and analysis is preferred.

(2) Reform and development division

(1) Job responsibilities:

1. To be responsible for tracking the research results of domestic and foreign enterprises in reform and development, corporate governance, management mode, etc., and put forward reform and development suggestions for the leaders;

2. Responsible for the three-year reform of state-owned enterprises and the restructuring of public institutions, organize and coordinate the improvement of corporate governance structure and promote the modernization of corporate governance;

3. Responsible for the organization and management, organizational setup and post preparation, and optimize organizational setup and responsibilities;

4. Be responsible for the organization’s process system construction, and organize the formulation of process system management documents;

5. Be responsible for the construction of the rules and regulations system and the management of the system database;

6. Responsible for the centralized management of innovation activities and international development.

(2) Requirements:

1. Master degree or above with two years’ working experience;

2. Have CET-4 or above;

3. Strong writing, language expression and communication skills;

4. Experience in process management is preferred.

(3) Business administrators

(1) Job responsibilities:

1. Responsible for model market development, comprehensive demonstration and planning of project establishment, model operation management, model technical and economic unity and operational risk management;

2. Be responsible for analyzing and formulating the estimated scale of development funds and the target price strategy;

3. Responsible for the declaration, evaluation, negotiation and signing of the budget estimate for the development model;

4. Organize price declaration, and be responsible for model price review, negotiation and signing;

5. Be responsible for formulating the expected operating target of the model, the pre-control plan of funds and organizing the implementation;

6. Responsible for model life cycle planning and signing outsourcing contracts for some important components and above; Organization model life cycle fund management and completion settlement.

(2) Requirements:

1. Education: Master or above;

2. Generally, you should have more than 1 year experience in model development, understand the model development process, and master the composition, preliminary principle, function and supporting relationship of the servo system.

(4) Price administrator

(1) Job responsibilities:

1 responsible for the research and implementation of national price policy;

2. Be responsible for the construction of the cost and price standard management system; Demonstration of price information system, database construction and data maintenance;

3. Be responsible for the price management of products on the shelves;

4. Be responsible for reviewing the price funds of the outsourced and purchased products of the project and organizing the pricing;

5. Be responsible for reviewing the over-estimated funds of the model supporting outsourcing units;

6. Be responsible for the management of project quotation and project guidance price.

(2) Requirements:

1. The education level under 30 years old should be master’s degree or above, and over 30 years old should have a bachelor’s degree or above; Assistant level (inclusive) or above professional and technical post qualification or equivalent professional qualification level; Generally, you should have 1 year or above relevant working experience; The age is generally not more than 45 years old.

(5) Cost analysts

(1) Job responsibilities:

1. Be responsible for the research of cost and price estimation method, software construction and application;

2. Responsible for the internal actual cost audit of the project, put forward the actual cost audit opinions, and prepare the first batch (trial batch) cost analysis report;

3. Responsible for the implementation of project process cost monitoring.

(2) Requirements:

1. The education level under 30 years old should be master’s degree or above, and over 30 years old should have a bachelor’s degree or above; Assistant level (inclusive) or above professional and technical post qualification or equivalent professional qualification level, generally should have 1 year or above relevant work experience; The age is generally not more than 45 years old.

(6) Model planning and scheduling

(1) Job responsibilities:

1. Prepare the scientific research and production plan of the competent model; Monthly plan for scientific research and production; Scheduling and coordination of production organization; Product matching, testing, delivery and after-sales; Assessment of scientific research and production plan; Quality, funds and cost management.

(2) Requirements:

1. The education level under 30 years old should be master’s degree or above, and over 30 years old should have a bachelor’s degree or above; Assistant level (inclusive) or above professional and technical qualifications, generally should have more than 2 years of relevant work experience; The age is generally not more than 35 years old.

2. Master the basic knowledge of project management; Master model development, process flow, servo system composition, preliminary principle, function and supporting relationship.

(7) Material buyer

(1) Job responsibilities:

1. Responsible for the preparation, purchase, coordination and warehousing of model material plans;

2. Responsible for organizing the implementation, acceptance and warehousing of self-collected materials;

3. Be responsible for the comprehensive coordination of the progress of all materials;

4. Be responsible for the statistics, analysis and reporting of the completion of the material procurement plan;

5. Be responsible for the implementation of model material procurement quality and the preparation of material quality review report;

6. Be responsible for material negotiation, procurement contract signing and payment;

7. Be responsible for capability evaluation and performance evaluation of material suppliers.

(2) Requirements:

1 should have a bachelor’s degree or above, assistant level (inclusive) or above professional and technical qualifications, generally should have more than 2 years of relevant work experience; Generally no more than 40 years old;

2. Master the basic knowledge of project management, procurement management and supply chain management; Master the basic knowledge of components and other materials.

(eight) product buyers

(1) Job responsibilities:

1. Be responsible for outsourcing, preparation of outsourced products and outsourced test plans, commissioning of tasks, process supervision, and complete warehousing;

2. Responsible for organizing the implementation of product quality control requirements and comprehensive coordination of process problems;

3. Be responsible for the statistics, analysis and reporting of the completion of outsourcing, outsourcing and test plans;

4. Responsible for organizing supplier sourcing and product trial production;

5. Responsible for outsourcing, outsourcing, trial price negotiation, contract signing and payment;

6. Be responsible for capability evaluation and performance evaluation of suppliers.

(2) Requirements:

1 should have a bachelor’s degree or above, assistant level (inclusive) or above professional and technical qualifications, generally should have more than 2 years of relevant work experience; Generally no more than 40 years old;

2. Understand the basic knowledge of project management, procurement management and supply chain management; Master the composition and basic principle of servo products, and master the process of product development, production and technology (machining, electrical assembly, etc.).

(9) Model quality administrator

(1) Job responsibilities:

1. Draft and improve the quality management requirements of the models in charge, and supervise the implementation of the requirements;

2. Coordinate and organize to undertake various reviews, meetings and related work required by the quality system, and track and manage the implementation of the remaining backlog;

3. Organize and participate in the zeroing of model quality problems.

(2) Requirements:

1. The education level under 30 years old should be master’s degree or above, and over 30 years old should have a bachelor’s degree or above; Assistant level (inclusive) or above professional and technical qualifications, generally should have more than 2 years of work experience;

2. Professional knowledge: quality management system requirements, common quality tools and methods, model development process, basic knowledge of servo products and other related products, etc.

3. Understand the national quality management laws and regulations. Master the model quality management requirements of Aerospace Science and Technology Corporation and the First Hospital.

(10) Product quality assurance administrator

(1) Job responsibilities:

1. Make annual product quality assurance plans, product quality activity nodes and plans and organize their implementation;

2. Carry out the quality evaluation and related work of the products in charge, and cooperate with the production and quality assurance division to carry out the inspection of product assurance requirements;

3. Be responsible for zeroing the quality problems of various professional products and drawing inferences from others; Collect and summarize the problems in product quality assurance and coordinate to solve them;

4. Responsible for organizing the acceptance of outsourced products and supervising and inspecting outsourced units;

5. Be responsible for organizing the model requirements to be included in the production and guarantee requirements and promoting their implementation.

(2) Requirements:

1. The education level under 30 years old should be master’s degree or above, and over 30 years old should have a bachelor’s degree or above; Generally, you should have more than 2 years working experience;

2. Professional knowledge: quality management knowledge and commonly used quality tools and methods, quality management system requirements, basic knowledge and development process of servo products and other related products, etc.

3. Understand the national quality management laws and regulations. Master the model quality management requirements of Aerospace Science and Technology Group and First Hospital.

(11) Process management post

(1) Job responsibilities:

1. Plan and participate in the compilation of professional digital production line construction scheme, organize scheme demonstration and review, and participate in the formulation and construction implementation of task book; Organize and write the summary and planning of digital production line construction;

2. Be responsible for the process management of the model.

(2) Requirements:

1. The education level under 30 years old should be master’s degree or above, and over 30 years old should have a bachelor’s degree or above; With intermediate titles; Under the age of 35;

2. Generally, you should have more than 3 years working experience in technology;

3. Familiar with the process characteristics of servo products and related knowledge of digital process;

4. Should have relevant experience in professional digital production line construction.

Third, matters needing attention

1. Recruitment scope: within the aerospace system.

2. Work place: Beijing

3. Registration method: According to the job recruitment demand information, fill in the Application Form for Eighteen Jobs (attachment), name it in the form of social talent+job name+name, and send an email to the registration mailbox of calt18hr@163.com.

4. Deadline for registration: September 8, 2021.

Contact person and contact information: Teacher Sun 010-68382905

Attachment: Application Form for Eighteen Positions

[Editor: Wang Zhanchao]