Beijing News Shell Financial News (Reporter Lin Zi) On September 12th, the new M7 series of AITO was officially listed. At the press conference, Yu Chengdong, managing director of Huawei, CEO of BG, and CEO of BU, a smart car solution, said, "We have invested 500 million yuan in the new M7 series of AITO.".

As a 250,000-class luxury medium and large SUV, the official guide price of the new M7 series in the world is: 249,800 yuan for the five-seat rear-drive version of M7 Plus, 284,800 yuan for the five-seat four-wheel drive version of M7 Plus, and 309,800 yuan for the five-seat intelligent drive version of M7 Max; The six-seat rear-drive version of M7 Plus is 269,800 yuan, and the six-seat intelligent driving version of M7 Max is 329,800 yuan.

The new M7 in Wenjie is equipped with HUAWEI ADS 2.0 high-order intelligent driving system, which is the first to realize high-speed and high-order intelligent driving in urban areas without relying on high-precision maps. It is expected that in December this year, the urban intelligent driving navigation assistance (urban NCA) will realize the experience that can be opened all over the country.

Since its release in April 2023, HUAWEI ADS 2.0 has built a rich scene library on the AI ? ? training cluster, learning 10 million +km in depth every day, and continuously optimizing the iterative intelligent driving algorithm and scene strategy. As of September 2023, the long-distance NCA pilot MPI(Miles Per Intervention) is as high as 200km, and the success rate of urban elevated import and export is as high as 99%+.

HarmonyOS intelligent cockpit has realized the "touch-and-touch" of mobile phones, which can realize the continuous application circulation of drama and games; Mobile phone aerial photography can also be transferred to the cockpit screen; HUAWEI MagLinkTM in the back row expands the use method of Huawei’s flat-panel hanging and connecting.

[technology circle]

Yu Chengdong: Huawei’s consumer business was renamed Huawei’s terminal business and entered the commercial field in an all-round way.

Yu Chengdong, managing director of Huawei, officially announced that Huawei’s consumer business was renamed as Huawei’s terminal business at the new product launch conference of Huawei’s terminal commercial office, and it has entered the commercial field in an all-round way. In the future, Huawei’s terminal business will comprehensively cover two modules: consumer products and commercial products. Consumer products will continue to focus on serving mass consumers, while commercial products will focus on serving government and corporate customers. (36Kr)

Huawei’s Bluetooth Key Patent Announced

Tianyancha App shows that recently, the patent of "a vehicle control method, vehicle-mounted device and mobile terminal" applied by Huawei Technologies Co., Ltd. was announced. According to the technical scheme of the application, the positioning accuracy of the car Bluetooth key can be improved, the user’s intention can be recognized, the vehicle can automatically execute the operation instructions such as unlocking and locking the door, the use convenience of the keyless entry and starting function of the vehicle can be improved, and the convenience and comfort experience of the user in using the vehicle can be improved.

Apple claims that nearly 20% of the materials used in its products in 2021 will be recycled materials.

Apple published an article in official website on April 19th, saying that it used certified recycled gold in its products for the first time and more than doubled the amount of recycled tungsten, rare earth elements and cobalt. Since 2015, Apple’s use of plastics in product packaging has been reduced by 75%. (Interface)

　

Internet

The second instance verdict of the case of "pretending to be an old godmother employee to defraud Tencent": the appeal was dismissed and the original judgment was upheld.

It is learned from relevant parties that the second instance of the case of three people posing as employees of Guiyang Nanming Laoganma Flavor Food Co., Ltd. and defrauding Shenzhen Tencent Computer System Co., Ltd. has been ruled by Guiyang Intermediate People’s Court: the appeal was rejected and the original judgment was upheld. On December 29, 2021, the Nanming District People’s Court of Guiyang made a first-instance judgment on this case. Three defendants were sentenced to 12 years’ imprisonment, 7 years’ imprisonment and 6 years’ imprisonment respectively, and were fined, and three people returned Tencent’s compensation of 4.31 million yuan. (澎湃)

The Ministry of Industry and Information Technology has notified 37 apps that infringe on users’ rights and interests, and everyone broadcasts live and I love my family.

The Ministry of Industry and Information Technology recently organized a third-party testing organization to check the mobile Internet application (APP). Up to now, there are still 37 apps that have not been rectified, including live broadcast for everyone and I love my family.

It is said that Musk launched an offer to buy Twitter in about 10 days.

On the 19th local time, foreign media quoted people familiar with the matter as saying that Musk planned to launch a tender offer directly to Twitter shareholders in about 10 days. If it is successful, Twitter shareholders can choose to sell their shares at the tender price. According to the report, in addition to the cost of purchasing a 9.2% stake in Twitter, Musk is willing to pay 10 billion to 15 billion US dollars in cash. In addition, he also seeks to raise $43 billion needed to privatize Twitter by introducing other investors and debt financing.

Blackstone, Vista and brookfield have ruled out the possibility of financing Musk’s acquisition of Twitter.

According to market sources, Blackstone Group, Vista and brookfield have ruled out the possibility of financing Musk’s acquisition of Twitter. (Sina Finance)

Instead of boycotting advertisements, Netflix is considering launching a cheaper subscription plan.

Wilmot Reed Hastings Jr., co-CEO of streaming video giant Netflix, said on Tuesday that Netflix is now "quite open" to offering lower-priced subscription plans supported by advertisements. Hastings has long opposed adding advertisements or other promotional activities to the platform, but he said in a pre-recorded earnings conference call on Tuesday that it was "very reasonable" to provide customers with cheaper options. (Phoenix Net Technology)

　

[Car ring]

Less than two months after delivery, Huawei AITO asked the M5 official to raise the price by 10,000 yuan.

On the 20th, the official of AITO Automobile Co., Ltd., which is a cooperation between Huawei and Celestial, released the announcement about the price adjustment of the M5&the listing instructions of the standard version of the M5 rear drive, to adjust the prices of some models of the M5. Among them, the starting price of the standard version of Wujie M5 rear drive was adjusted to 259,800 yuan, which was 10,000 yuan higher than the previously announced price. (Sina Finance)

LI’s delivery was postponed in April because some supply chain enterprises could not supply.

On the evening of April 20th, LI said in a notice issued by the APP that since the end of March, some supply chain enterprises located in Jiangsu, Zhejiang and Shanghai in LI have been unable to supply due to the requirements of epidemic prevention and control. Therefore, it had a great impact on the production in LI in April, which caused some users to delay the delivery of new cars.

Guoxuan Hi-Tech signed a strategic cooperation agreement with Geely Commercial Vehicle.

According to the official news of Guoxuan Hi-Tech, Hefei Guoxuan Hi-Tech Power Energy Co., Ltd., a wholly-owned subsidiary of Guoxuan Hi-Tech, recently signed a strategic cooperation agreement with Zhejiang Geely New Energy Commercial Vehicle Group Co., Ltd. The two parties agreed that Hefei Guoxuan will supply power battery products to Geely commercial vehicles from 2022 to 2024, with an estimated total of 126,000 sets, including micro-surface, light truck and extended range.

　

Energy industry

It is reported that Contemporary Amperex Technology Co., Limited will release new power battery technology in the near future, but Contemporary Amperex Technology Co., Limited denies it.

Contemporary Amperex Technology Co., Limited denied that a new power battery technology would be released in the near future, and said it was a misunderstanding, so please don’t pass it on. Earlier, some media reported that Contemporary Amperex Technology Co., Limited related sources revealed that the company will prepare to release new power battery technology in the near future. (Sina Finance)

　

[Financial Street]

Everbright Securities: Received resignation reports from Yan Jun, chairman of the company, and Liu Jiping, chairman of the board of supervisors.

Everbright Securities announced that the board of directors received the resignation report of Yan Jun, the chairman of the company, on April 19th. Due to job adjustment, Yan Jun resigned as the chairman, director and convener of the Strategy and Development Committee of the Board of Directors. On the same day, the company’s board of supervisors received the resignation report of Liu Jiping, the company’s supervisor. Due to work adjustment, Liu Jiping resigned as the chairman of the board of supervisors, supervisor and member of the governance supervision committee of the board of supervisors. The company has noticed some media reports about other senior managers of the company. At present, other senior managers of the company have not changed, and the company’s operation and management are normal.

Bank of China Securities: Lin Jingzhen resigned as chairman of the company and elected Ning Min as chairman of the company.

Bank of China Securities announced that the board of directors recently received the resignation report submitted by Lin Jingzhen. Lin Jingzhen, Vice President of Bank of China, applied to resign as a director, chairman and director of the Strategy and Development Committee of the Board of Directors due to work arrangements. After his resignation, he will no longer hold any positions in the company. The board of directors elected Director Ning Min as the chairman of the second board of directors of the company.

Chairman of Bank of Nanjing: We will increase Suning’s capital stock in due course and do a good job of stability this year.

Bank of Nanjing held a performance briefing for 2021 and the first quarter of 2022. Hu Shengrong, Chairman of Bank of Nanjing, answered questions about the future layout of Bank of Nanjing’s consumer finance at the performance conference. Hu Shengrong said that the current acquisition of Suning Xiaojin still needs to wait for the approval of the regulatory authorities before realizing equity delivery. At the same time, after the delivery, Bank of Nanjing will study how to increase the share capital of Suning, and at the same time make a series of arrangements in terms of business model, business development planning and internal organization. The main task of Suning’s gold elimination this year is to "stabilize", do a good job in basic work, and achieve greater development next year. (澎湃)

The largest public pension fund in the United States: supporting the removal of Buffett as chairman of Berkshire Hathaway.

According to reports, Calpers, the largest state public pension fund in the United States, disclosed on April 19th that it intends to vote for Berkshire Hathaway’s shareholder proposal to replace Warren Buffett’s position as chairman. Before Berkshire Hathaway held its annual general meeting on April 30th, the California Civil Servant Retirement Fund disclosed its position in the announcement submitted to the US Securities and Exchange Commission. (Interface)

　

[real estate circle]

Evergrande plans to restart large-scale marketing, and the "May 1 Golden Week" 2000 existing home promotion scheme flows out.

According to market information, Evergrande internally issued the Notice on Issuing Ten Key Marketing Measures and Special Assessment during the Golden Week, requiring that the "May 1 Golden Week Grand Discount" and "Existing Home Grand Discount" be packaged. During the Golden Week, 2,000 existing houses will be launched, and the time range is from April 20th to May 5th, 2022. The notice was confirmed by relevant insiders of Evergrande.

Sunac Real Estate Group was forced to execute more than 38 million yuan.

According to the information disclosure website of China, on April 19th, Sunac Real Estate Group Co., Ltd. added a piece of information about the person to be executed, with an execution target of 38.51 million yuan, and the enforcement court was the Chaoyang District People’s Court. Sunac Real Estate Group Co., Ltd. was established in January 2003, with the legal representative Wang Mengde and the registered capital of 15 billion RMB, which is wholly owned by Beijing Sunac Holding Group Co., Ltd. (Interface)

　

[medical circle]

Netcom Kexing executives died, and the company responded: It is true.

Recently, an obituary about the death of Kexing executives was circulated on the Internet. The obituary shows that Cao Xiaobin, senior manager of the Government Affairs Center of Beijing Kexing Biological Products Co., Ltd., died on April 17, 2022 at the age of 45, and was signed by Comrade Cao Xiaobin funeral committee. Kexing confirmed that the news of Cao Xiaobin’s death was true. (Zhongxin Jingwei)

　

Aviation industry

“3• The preliminary report on the investigation of the flight accident of 21 "China Eastern Airlines MU5735 aircraft was released.

After investigation, the qualifications of flight crew, cabin crew and maintenance release personnel on duty meet the requirements; The airworthiness certificate of the accident aircraft is valid, the latest A inspection (31A) and the latest C inspection (3C) of the aircraft have not exceeded the inspection time limit specified in the maintenance plan, and there is no fault report and no fault reservation before the flight and short parking on the same day; There are no goods declared as dangerous goods on board; The navigation and monitoring facilities and equipment along the route involved in this flight are not abnormal, and there is no dangerous weather forecast; Before deviating from the cruising altitude, there was no abnormality in the radio communication and control command between the crew and the air traffic control department, and the last normal land-air call was at 14: 16; The two recorders on board were seriously damaged due to the impact, and the data repair and analysis work is still in progress.

　

More exciting content, all in the first financial APP.

At the Guangzhou Auto Show not long ago, Geely Automobile officially released its Star Yue L hybrid version. On the basis of maintaining the design of the Star Yue L fuel version, the new car has been adjusted for some details. The biggest highlight is that it is equipped with Geely Automobile’s new Lei Shenqing Hi·X hybrid system for the first time. It is reported that the new car will be officially listed in the first half of next year.

A few days ago, we got a set of spy photos of the Star Yue L mixed version from relevant channels. Combined with the previous declaration map and official map, we can have a general understanding of the appearance of the new car. The changes of the Star Yue L hybrid version and the Star Yue fuel version are mainly concentrated in the front face. The straight waterfall air intake grille has been replaced with a fish-scale texture structure, and the textures on both sides of the grille can also be lit, and a luminous Geely LOGO is added.

At the same time, the lower enclosure is decorated with black and the same color as the body instead of the previous through chrome trim, and the large-size diversion grooves on both sides look more combative.

In terms of body size, the declared length, width and height of the new car are 4770/1895/1689mm and the wheelbase is 2845mm, which is consistent with the fuel version. The rear of the car still occupies the whole visual center of gravity with penetrating taillights. The difference is that the shape of the rear enclosure has been adjusted to echo the front face, and the "GHS" logo has been added at the tail mark in the lower right corner to show the identity of the hybrid car.

In the car, we guess that the new car should also continue the design layout of the fuel version, adopt the interior color matching of two-color mix and match, and form an integrated screen with a length of 1 meter with full LCD instrument+central control screen+co-pilot entertainment display, occupying the whole visual center of gravity, showing a strong luxury technology atmosphere.

The power part is the biggest highlight of the new car. The Xingyue L hybrid version is equipped with Geely’s brand-new Lei Shenqing Hi·X hybrid system, which consists of a 1.5TD hybrid engine+motor +DHT Pro transmission. Among them, the maximum power of the engine is 110 kW, the peak torque is 225 Nm, the thermal efficiency is as high as 43.32%, and the coverage rate of the high-efficiency area is close to 50%. The matching DHT Pro transmission has three gears.

According to the official, the comprehensive fuel consumption of Xingyue L 100 kilometers equipped with this hybrid system can be as low as 4.3 liters, the acceleration time of 100 kilometers is 7.9 seconds, and the maximum cruising range of 1300 kilometers can be achieved. However, the final performance still needs to wait for the follow-up actual test to be revealed.

Since its release, Xingyue L has attracted the attention of consumers with its leapfrog body size, rich configuration and Volvo powertrain. After its listing in July this year, it has achieved very eye-catching sales results. For reference, the price range of the fuel version of the Star Yue L is 137,200-185,200 yuan. If the future Star Yue L hybrid version can also give a price with enough sincerity, I believe that the new car should have a relatively good market competitiveness.

On May 10th, 2023, LI announced its financial report for the first quarter of 2023. Despite the fact that the overall performance of China’s auto market is not as good as expected, LI’s quarterly revenue and delivery both hit record highs. Revenue in the first quarter was 18.79 billion yuan, up 96.5% year-on-year. In the same period, LI delivered a total of 52,584 new cars to users, up 65.8% year-on-year, achieving the single-season delivery *. Driven by strong delivery, LI ranked among the top three new energy brands in China in the first quarter, with a market share of about 11%, far exceeding other new power brands. Thanks to the unremitting pursuit of operating efficiency, a number of financial data hit record highs. After deducting equity incentives, operating profit and net profit reached 890 million yuan and 1.41 billion yuan respectively, and free cash flow reached 6.7 billion yuan. The gross profit margin remained stable at 20.4% in the first quarter. A healthy business model and sufficient cash reserves have laid a solid foundation for the long-term development of enterprises.

It is worth mentioning that LI has continuously strengthened its refined operation and promoted the continuous increase of delivery data from January to April 2023. By the end of last month, more than 330,000 home users had chosen LI’s products. Thanks to the emergence of more and more home users, the delivery volume in April 2023 exceeded 25,000 vehicles for the first time, up by 516.3% year-on-year, setting a new record of single-month delivery since the brand was founded, and has delivered more than 20,000 vehicles for two consecutive months. Based on positive market feedback, LI’s second-quarter performance guidance has reached a new high, with an estimated delivery of 76,000 to 81,000 vehicles, up 164.9% to 182.4% year-on-year; The estimated total revenue is 24.22 billion yuan to 25.86 billion yuan, up 177.4% to 196.1% year-on-year.

Maintain high growth in R&D investment and constantly optimize product strength.

In the first quarter, relying on users’ continuous recognition of Ideal L9 and Ideal L8, as well as the strong order volume and rapid capacity climbing of Ideal L7, LI achieved a new single-season delivery result, and gained an 11% market share in the new energy vehicle market of more than 200,000 yuan in China. Once again, it proves that LI is constantly exerting the advantages and cooperative effectiveness of its supply chain, manufacturing, sales and service network from stage 1 to stage 10. At present, the released ideal L series models have achieved outstanding performance in their respective market segments. Among them, as a five-seat flagship SUV of the brand * family, the ideal L7 has delivered more than 10,000 yuan in the complete delivery month, which is also a five-seat SUV model of China brand * with a starting price of more than 300,000 yuan and a monthly delivery of more than 10,000 yuan, becoming one of the luxury five-seat SUVs of more families *; Ideal L8 maintains sales in six market segments *; Ideal L9 has won the monthly sales champion of large SUV for many times since it was delivered last year.

Meanwhile, LI invested a total of 1.85 billion yuan in R&D in the first quarter, up 34.8% year-on-year. In terms of smart space and intelligent driving with high user utilization rate, LI has continuously improved its product strength through OTA upgrade. Since the beginning of this year, the ideal L-series models have completed two OTA version upgrades of 4.3 and 4.4, and more than 100 functions and experiences have been optimized. Among them, the task master can let users define the function combination independently and realize the linkage of seat, driving, navigation and application, which has been well received and discussed by users since it was launched. In addition, in OTA 4.4, the new version of the car adds the sentry mode that users have been waiting for for for a long time. The system will automatically detect the situation around the car and remind users according to the level of different situations. Through its own power-saving strategy, the energy consumption for the whole night is only about half that of other models; At the same time, users who assemble the ideal AD Max intelligent driving system also get LKA Plus function through the recent upgrade. This function can realize automatic lane change when navigation is not turned on, reduce driving fatigue and improve traffic efficiency.

In April, Ideal L9, the six flagship SUV—— of the family, won the five-star intelligent star rating in the evaluation results of the IVISTA China Smart Car Index 2023 * batch released by China Automotive Engineering Research Institute Co., Ltd. (hereinafter referred to as "China Automobile Research"). Especially in the intelligent safety test, Ideal L9 is the vehicle with the highest score among the vehicles that have been tested by China Smart Car Index, and it is also the vehicle with G+ on the basis of four G evaluations. Ideal L9 has also become the vehicle with the highest performance in IVISTA China Smart Car Index.

Create an ideal fortress to protect family members.

LI has also invested a lot of energy and time in safety related to users’ travel, and strived to build an ideal fortress safety body for the whole family through the safety concept of *. Last year, Ideal L9 became a large SUV with G rating for 25% offset collision on both driver’s side and passenger’s side in China Insurance Automobile Safety Index (C-IASI, hereinafter referred to as "China Insurance Research"). In April this year, the Ideal L9 won the five-star evaluation of the upgraded version of C-NCAP in 2021 in the test results of a new batch of China’s new car evaluation regulations (C-NCAP), becoming the vehicle with the highest comprehensive score in history. Ideal L9 is also a luxury large-scale SUV in China, which has obtained * achievements in China’s new car evaluation regulation (C-NCAP), China Insurance Automobile Safety Index (C-IASI), China Automobile Consumer Research and Evaluation (CCRT) and China Automobile Health Index (C-AHI). In the same month, the Ideal L8 also became the SUV model with * achievements in the crash test history of China Insurance Research Institute. In the passenger safety index inside the car, the passenger safety index outside the car and the vehicle auxiliary safety index, the ideal L8 all got the highest rating of G (excellent), especially in the 25% offset crash test on the passenger side of non-standard test items.

A series of excellent crash results depend on the powerful ideal fortress safety car body design, which is a defensive car body structure deeply developed by LI, and strives to provide 360 all-round protection for family members in every position in the car. First of all, LI determined the energy distribution strategy at vehicle level, system level and key parts level, and built a more scientific and reasonable power transmission path and section size system for each main power transmission channel in turn. Secondly, LI designed a cage-type car body with ultra-high torsional rigidity, and used boron steel (hot formed steel) at key positions to form a protective structure with higher strength. At the same time, LI insists on improving material selection, adopts positive energy management and load distribution for body-in-white, carries out accurate topology of key parts and cross-section structure of the body, and truly uses good steel on the blade. The standard flagship ideal fortress safety body truly realizes the equal rights of safety technology.

In addition, following the four five-star certifications of Ideal L9 in China Automobile Health Index (C-AHI) rating, Ideal L8 also recently obtained four five-star certifications in China Automobile Health Index, becoming a well-deserved "green house" to protect family members.

Stepping into a new development chapter with "dual-energy strategy"

Recently, LI officially released the "Double Energy Strategy", which indicates that the brand will exert all-round efforts in "intelligence" and "electric energy". More importantly, by 2025, LI will form a product layout of "one super flagship model+five extended-range electric vehicles+five high-voltage pure electric vehicles", which will face a market of more than 200,000 and fully meet the needs of home users.

In terms of "intelligence", ideal intelligent driving has officially entered the 3.0 era, from high-speed scenes to urban scenes. This system uses three neural network large model algorithms: static BEV network algorithm, dynamic BEV network algorithm and Occupancy network algorithm to restore, and uses NeRF technology to enhance the Occupancy network algorithm to achieve higher accuracy and details, so as to provide accurate information in the decision-making planning of complex urban scenes. At present, based on the accumulation in the past five years, LI has already had the most intelligent driving training mileage in China, which has reached more than 400 million kilometers. The urban NOA navigation-assisted driving system with ideal AD Max 3.0 is planned to push internal test users from the second quarter of this year. By the end of 2023, there will be more than 100 domestic cities, and with a set of technologies, cities and highways will be completely opened. Some intelligent driving abilities based on large-scale model training will also be released to users who adopt ideal AD Pro hardware models.

In terms of "electric energy", LI has officially entered a new stage of "extended range electric" and "high voltage pure electricity". For the pure electric products to be released in the future, LI has deeply cultivated the core technology and landed an 800V ultra-charged pure electric solution. Its advantage lies in making users bid farewell to mileage anxiety and giving pure electric users a "refueling" experience. LI’s pure electric products will adopt a new generation of self-developed electric drive system composed of 800V silicon carbide power modules, with comprehensive optimized design scheme and more advanced resource integration, which will make breakthroughs in all energy efficiency indicators. In addition, in order to reduce the charging difficulties of users of pure electric vehicles, LI officially launched the "Ideal 4C Super Charging Station" and the overcharge network, so as to realize the rapid recharge of charging for 10 minutes and increasing the battery life by 400 kilometers. By 2025, the goal is to build more than 3,000 charging stations. At the same time, the ideal AD Max 3.0 will also be integrated with the ideal 4C super charging station *, making it more convenient for users to go to the super charging station than to the gas station.

Optimize the layout of sales network and enhance the status of the industry *

In the first quarter, in order to support the development of multi-vehicles, LI continued to expand the network layout and accelerate the upgrading of store quality, so as to provide users with more convenient and efficient services. Since late June last year, LI has expanded or optimized nearly 50 existing stores. As of April 30, 2023, LI has 302 retail centers nationwide, covering 123 cities; There are 318 after-sales maintenance centers and authorized car body panel spraying centers, covering 222 cities.

The ever-increasing profitability and cash flow have become the basis for enterprises to continuously invest in R&D and business capabilities, and also provide strong support for brands to maintain their position in the new energy vehicle market. With strong product strength and excellent operational efficiency, LI will continue to strengthen its commercial and service capabilities, create greater value for users and further enhance the flywheel effect of enterprise development.

　　A, classification management ideas and standard setting

　　Different choices of civil subjects based on network anchors, as well as different civil contract designs from platforms and brokerage companies, constitute different tax payers and different tax objects in tax law, and apply different substantive rules and collection and management procedures, which inevitably requires the introduction of hierarchical management ideas. Classified taxation management is the essential appeal and concrete embodiment of the statutory principle of taxation. Under the guidance of classification, focusing the collection and management efforts on high-income groups such as head anchors and star anchors is in line with the requirements of the principle of collection and management efficiency, and also meets the requirements of the times to play the role of tax social distribution regulation under the background of common prosperity.

　　How to set the standard of classification is the first question that needs to be answered. The first and bottom line standard is to classify according to the clear provisions of the tax law, and stick to the bottom line of no one size fits all.

　　From the main design point of view, the network anchor is either in the form of a natural person, or in the form of an individual industrial and commercial household, a sole proprietorship enterprise and other organizational forms; In terms of civil contract design, the network anchor either signs a labor contract or business contract with the live broadcast platform, or signs a contract with a brokerage company and forms a tripartite relationship with the live broadcast platform; From the type of income, the main income is labor remuneration and business income (including the business income of natural persons, individual industrial and commercial households and sole proprietorship enterprises), and under special circumstances, it is salary income. If a company is established, it should also be taxed according to enterprise income tax.

　　It is necessary to combine the above various civil subjects and their different contract types, and carry out classified collection and management in accordance with the clear provisions of the tax law, including income tax and value-added tax. The bottom line that needs to be grasped is that we can’t blindly make a one-size-fits-all approach, that is, unify the collection and management according to a certain subject type and contract type.

　　A more guiding standard is to classify according to the amount of income, and advocate the establishment of individual industrial and commercial households, sole proprietorship enterprises and other organizations for high-income groups such as head anchors and star anchors and tax them accordingly. The important orientation of classified management is the collection and management of high-income groups, such as head anchors and star anchors. The amount of income should be regarded as an important standard of classified management, and a standard of amount can be determined by month or year (for example, 100,000 yuan per month or 1.2 million yuan per year). For those above this amount, tax authorities and platforms advocate the establishment of individual industrial and commercial households, sole proprietorship enterprises and other organizations, and handle tax registration, standardize the establishment of accounts and tax accordingly. Of course, it is not mandatory to advocate the establishment of an organization, and taxpayers’ free choice should be respected.

　　Second, the taxation and scheme design of two types of network anchors

　　According to the above standards, we can roughly outline two tax forms of network anchors:

　　The first category is to advocate the establishment of individual industrial and commercial households, sole proprietorship enterprises and other organizations for network anchors above a certain standard amount and tax them accordingly;

　　The second category is network anchors that have not reached a certain standard amount, or have reached a certain standard amount but have not established individual industrial and commercial households or sole proprietorship enterprises.

　　The taxation of the first type of network anchor should be the key concern.

　　The first type of collection and management scheme is designed as follows:

　　(1) Main taxes and tax items: personal income tax is taxed according to "business income" and value-added tax according to "modern service industry" or "life service industry". As far as individual taxes are concerned, from the perspective of formal taxation, the establishment of individual industrial and commercial households and sole proprietorship enterprises should generally be taxed as "business income", and in special circumstances, it can be taxed as "labor remuneration" based on the principle of substantive taxation.

　　(2) Collection and management methods and invoice management: taxpayers declare by themselves, issue invoices by themselves or apply to the tax authorities to issue invoices on their behalf. Whether it is individual tax or value-added tax, for the establishment of an organization, taxpayers should declare themselves, issue their own invoices or apply to the tax authorities for invoicing.

　　(3) Tax determination method: mainly based on audit collection, supplemented by approved collection. According to State Taxation Administration of The People’s Republic of China’s "Strengthening the Tax Administration of Employees in the Entertainment Field", "individual studios and enterprises that are required to be established by celebrity artists and network anchors should be instructed to establish account systems according to laws and regulations, and tax returns should be made by means of audit collection." Therefore, for such anchors, tax registration should be handled, accounts should be strictly established, and accounts should be audited and collected; Considering the difficulty in establishing accounts and saving the cost of collection and management, we can also consider collecting some anchors by verification, but we should ensure the balance of tax burden between the collection by verification and the collection by audit, so as to avoid the alienation of verification into a tax preference tool. (4) Tax payment place and competent tax authorities: According to the relevant provisions of the tax law, "operating income" should be declared and paid in the tax authorities where the business management is located, and the competent authorities are the tax authorities where the business management is located. In terms of value-added tax, it should be declared and paid by the tax authorities in the place where the institution is located or where it lives, and the competent authority is the tax authorities in the place where the institution is located or where it lives.

　　The second type of collection and management scheme is designed as follows:

　　(1) Main taxes and tax items: personal income tax is taxed according to "labor remuneration" or "business income" and value-added tax according to "modern service industry" or "life service industry". If there is no organizational structure, the income obtained from the platform or brokerage company can be taxed as "labor remuneration" or "operating income". From the point of view of collection and management efficiency, we might as well simplify it: whether it is continuous and regular activities for business purposes, and the size of income quota, as the distinguishing standard. Those who do not reach a certain standard amount are generally taxed according to "labor remuneration" (which can be understood as non-sustainability, regularity and small income); For those who reach a certain standard amount, they can be taxed as "operating income" (which can be understood as continuous, regular and large in income).

　　(2) Collection and management methods and invoice management: if the tax is levied according to "labor remuneration", the payer (platform or brokerage company) will withhold and remit it when paying, and the anchor will make annual final settlement; The "operating income" shall be declared by the taxpayer. In invoice management, the former is opened by the anchor applying to the tax authorities, and it can also be considered to be opened by the platform or applied to the tax authorities; The latter is issued by the taxpayer himself or by the tax authorities.

　　(3) How to determine the tax: if the tax does not reach a certain standard amount, it will be taxed as "labor remuneration", and the withholding agent will withhold it and broadcast the personal annual settlement; For those who are taxed according to "operating income", because there is no organization, they will generally adopt the approved collection, but taxpayers can also audit the accounts if they establish accounts.

　　(4) Tax payment place and competent tax authorities: if tax is paid according to "labor remuneration", tax payment shall be declared at the tax authorities where the household registration is located, the habitual residence or the main source of income; If there is a withholding agent, the tax authorities where the withholding agent (such as the platform) is located shall withhold the declaration. Taxes levied on "business income" shall be declared and paid by the tax authorities in the place where the business management is located, and the competent authority shall be the tax authorities in the place where the business management is located. In terms of value-added tax, because there is no place where the organization is located, it should be declared and paid by the tax authorities at the place of residence or where the live broadcast activity takes place, and the competent authority is the place of residence or where the live broadcast activity takes place.

　　No matter which of the above types, the network platform undertakes certain duties and obligations to assist in tax collection.

　　First, the obligation to withhold and remit. For the individual tax levied according to "labor remuneration", the main obligation of the platform is the obligation of withholding and remitting.

　　The second is the determination and sharing of live broadcast turnover. Whether it is reward income or sales income, the platform can grasp it in time and provide it regularly according to the requirements of tax authorities.

　　Third, urge the anchor to handle tax registration, standardize the establishment of accounts, declare and pay taxes in time, and undertake certain inspection obligations and reporting obligations to the tax authorities.

　　Fourth, the feasibility of entrusting the collection. From a practical point of view, entrusting to collect taxes is not the mainstream choice of tax authorities, but there is room for entrusting the platform to collect taxes for network anchors, especially for anchors whose income is higher than a certain standard amount but without an organization. The competent tax authorities can sign an entrustment agreement with the platform to entrust them to collect taxes according to the Administrative Measures on Entrusted Collection.

　　In addition, the tax bureau should also strengthen the ability of data tax management, such as the construction of electronic tax bureau, electronic tax registration, electronic invoice and other related convenience systems, and at the same time strengthen the ability of data sharing with the platform.

　　Third, the policy declaration and legal expression of classified management

　　In recent years, the tax system has strengthened the tax collection and management of webcasting industry, which shows the spirit of the rule of law of statutory and strict tax collection and the times demand of common prosperity, but at the same time, it has also caused great uncertainty and even panic to the practitioners of webcasting industry and related industries: Is the tax rectification of network anchors a temporary "Great Leap Forward" or a continuous implementation of the rule of law? What is the policy orientation for tax consolidation, unified and integrated governance, or focusing on the big and letting the small and releasing water to raise fish?

　　In addition, the resonance between the complexity of tax law norms and the complexity of the design of network anchor trading model also increases the uncertainty of anchor paying taxes according to law and tax compliance, and the lack of clear policy list guidance also increases the illegal risk of tax law. On September 18th, 2021, State Taxation Administration of The People’s Republic of China issued "Strengthening the Tax Administration of Employees in Entertainment Field", but it did not make clear policies and specific rules.

　　In the face of the ongoing tax clearance of the live broadcast industry, tax authorities, network anchors, platforms and other parties should seek to build a basic consensus. The tax system can clearly declare its position on anchor tax collection and management through the rule of law, that is, taxation according to law and strict collection and management, as well as giving play to the social distribution and regulation function of taxation under common prosperity; In terms of policy, the tax authorities should establish the management thinking of classification and clarify the standards of classification and classification, that is, focus on the collection and management of high-income groups such as head anchors and star anchors, and at the same time follow the clear provisions of the tax law and stick to the bottom line of the rule of law that does not apply across the board.

　　On this basis, the tax authorities should construct typical types of network anchors and sort out the current tax rules, and stipulate the tax collection and management types, tax collection methods and invoice management, tax determination methods, tax payment locations, competent tax authorities and tax-related assistance obligations of platforms for different types of anchors, so as to provide clear guidance for network anchors and platforms. This should be an urgent task and a fundamental solution to the current legalization of taxation in the live broadcast industry.

　　(Author Wang Zongtao is an associate professor at Xiamen University Law School, doctor of law)

Original title: TOP10 list of the most popular stars in Weibo in 2023! Zhao Lusi ranked 10th, Sean Xiao lost to Bailu 4th, and the champion was Hot Search King.

The 2023 TV series is no longer just the top-notch world of Yang Mi, Dilraba, Sean Xiao and YiBo. On the contrary, there are many post-95 generation conflicts. For example, Zhao Lusi in Hiding Secretly, White Deer in Long Moon Blooming, Dylan, Leo, soso, Esther Yu, Zhou Ye and others are the hottest stars nowadays. near futureWeibo released TOP10, the star with the most hot searches in the first half of 2023! Zhao Lusi was tenth, Xiao Zhan was fourth, Bai Lu was third, and the champion was really a hot search king!

In the first half of 2023, the star with the most hot searches TOP10: Zhao Lusi made 300 hot searches on the list.

Zhao Lusi ranked tenth with 300 hot searches. Zhao Lusi has been dominating the screen in recent years. First, Chen Qianqian, a rumored movie, was on fire. Later, Try the World and Brilliant Stars starring Zhao Lusi all had high popularity. In 2023, Zhao Lusi was still very popular. First, she appeared in the inspirational drama "Houlang" with the theme of traditional Chinese medicine, and then her partner Chen Zheyuan’s "Can’t Hide Secretly" was broadcast.

The hot topics of "After the Waves" and "Can’t Hide Secretly" are both amazing. Although the reviews of both dramas are bipolar, there is a high topic if there is Zhao Lusi. Especially, "Can’t Hide Secretly" was broadcast in the summer prime time. Even though there was "Long Wind Crossing" in the same period, Sean Xiao’s "jade bone Yao" and Yang Yang’s "My Human Fireworks" were all broadcast, but the popularity of "Can’t Hide Secretly" has not been compared, and the play has a high popularity overseas. Zhao Ruth’s momentum in 95 flowers is really unstoppable!

In the first half of 2023, TOP10, the "most frequently searched" star: Andy made 300 hot searches on the list.

Although Andy, the queen of traffic, didn’t broadcast a new drama in the first half of the year, her popularity was still amazing. In the past, Andy’s films "Sweet honey is as heavy as frost", "Dear, beloved", "Please give me more advice for the rest of my life" and "Aquilaria sinensis is like crumbs" all got good results, which made Andy secure her position as the queen, and her every move would become a topic. This summer, Andy is coming back with a new drama "Sauvignon Blanc"!

"Sauvignon Blanc" is an S+ heavy costume drama produced and broadcast by Tencent, which is adapted from Tonghua’s novel. The three men advocate late Italy, JC-T and Deng Weiyan are all highly valued, and their people are also very attractive. "Sauvignon Blanc" is expected to be broadcast in late July. Everyone expects this drama to make a splash for this year’s unpopular summer file. I believe Andy’s drama will not let everyone down.

In the first half of 2023, the star with the most hot searches TOP9: Esther Yu’s hot search list was 315 times.

Esther Yu 2022′ s two plays, Freesia Tactics and A Little Forest for Two, have greatly benefited her, especially Freesia Tactics, which made Esther Yu become a popular flower after 1995. Previously, Yang Mi and Zhao Liying dominated the world with 85 flowers, followed by Dilraba and Andy with 90 flowers. However, since last year, the post-1995 actors have taken turns to dominate the screen, and Esther Yu is now as hot as Zhao Lusi because of the success of Freesia.

After these two dramas, Esther Yu has not aired any new works, but her costume dramas "Six Prayers for the Present" and "Feather of the Cloud" are highly topical. In particular, Zhang Linghe’s "Feather of the Clouds" is the second one. Reuters often makes hot searches for all kinds of shooting of this drama. Esther Yu even made hot searches for more than 300 times in the first half of the year without any new drama broadcast. She really brings her own topic.

In the first half of 2023, TOP8, the star with the most hot searches: KUN made 317 hot searches.

Zhao Lusi, Andy, Esther Yu and others went on the hot search list mostly because of their star charm, but KUN didn’t go on the hot search because of a good thing. A while ago, KUN was told by paparazzi that she had a one-night stand with an amateur and asked her to have an abortion. Her mother illegally installed a pinhole camera and asked someone to follow her, and then she made a false report. When the incident first came to light, Weibo Hot Search was almost occupied by KUN.

Although KUN issued a statement apologizing afterwards, it still damaged the image. Many programs that KUN participated in before the accident were also taken off the shelves overnight, and the shots on the variety show were cut out.

In the first half of 2023, the star with the most hot searches TOP7: Jackson Yee hot search list 331 times.

Jackson Yee is definitely the most successful idol singer turned actor. He showed his mature acting skills in The Longest Day In Chang’an, which were not inferior to those of the old opera bones. After that, Better Days, the film starring Zhou Dongyu, also created a high reputation and a high box office, and now it has a place in the film circle.

In the first half of 2023, Jackson Yee participated in the movie "Man Jiang Hong" directed by Zhang Yimou, which is one of the most popular movies in China this year, and it broke out at the super-high box office of 4.5 billion yuan. Jackson Yee also won the seventh place on the list with 331 hot searches.

In the first half of 2023, TOP6, the star with the most hot searches: Jason made 341 hot searches.

Jason is a famous singer in China, and many people should have heard of his voice. He has sung the theme songs of many popular dramas, such as to the sky kingdom, swords of legends, Why Shengxiao Mo, and Aquilaria Resina. This year, Jason’s latest concert tour started, which also made him get on the hot search constantly, and the topic kept on.

TOP5: Song Yaxuan, the star with the most hot searches in the first half of 2023, made 346 hot searches on the list.

Song Yaxuan is one of the members of the Youth League in the era of the popular Men’s League. He is the lead singer and facade of the group and has a high popularity. He is also the darling of variety shows. This year alone, he joined two popular variety shows, Ace to Ace and All Staff Acceleration. Song Yaxuan won the fifth place with 346 hot searches.

TOP4, the star with the most hot searches in the first half of 2023: 484 hot searches in Sean Xiao.

I didn’t expect Top Stream Sean Xiao to rank fourth! Xiao Zhan broadcast two dramas in 2023, one was the drama Na Pianhai in My Dream, which started in June, and the other was jade bone Yao, which was ranked in the summer file. In contrast, "Na Pianhai in My Dream" has a better reputation. It not only made it into the top ten in terms of ratings and webcasts in the first half of 2023, but also scored 7.5 in Douban.

Recently, "jade bone Yao" is relatively silent. Compared with the goddess Sean Xiao, everyone in "jade bone Yao" is talking about the face value of the female director Min. In recent years, Sean Xiao began to try to broaden the theater, and at the same time, it can maintain the heat of the top stream, which is really amazing. Although the number of hot searches is not the most, Sean Xiao’s every move is still attracting attention.

In the first half of 2023, the star with the most hot searches TOP3: White Deer Hot Search was listed 489 times.

This year, Bailu topped the list of hot searches in Weibo with "Long Moon Blooming", and it was fully searched for 500 times! From the beginning to the end of "Long Moon Blooming", the degree of discussion has never been lower. During the hot broadcast, Bailu, Leo and Chen Douling almost lived on the hot search in Weibo, and the fiery red of the play also caused the traffic of Bailu to rise.

After "Long Moon Blooms", White Deer’s every move has become a topic, from her new drama "Going North" to her participation in the variety show "Run", which has caused heated discussion. Many people are optimistic that White Deer is expected to become a new traffic goddess after Andy and Dilraba.

TOP2, the star with the most hot searches in the first half of 2023: YiBo made 606 hot searches.

YiBo beat Sean Xiao and Bailu to win the second place! In recent years, YiBo began to move to the big screen. In the first half of 2023 alone, YiBo was connected to three films. First, co-star Tony Leung Chiu Wai’s The Unknown, and then April’s King of the Sky and May’s China Youth: Me and My Youth were also released, all of which were big productions with high topics.

Throughout the first half of the year, YiBo made a hot search on the list for 606 times, and the charm of Top Stream remained undiminished. And then there are two movies in YiBo, Enthusiasm and Peacekeeping Riot Squad, which are also expected to be scheduled for 2023. YiBo is going to dominate the cinema schedule this year!

TOP1, the star with the most hot searches in the first half of 2023: Dylan’s hot search list was 607 times.

The champion is Dylan! Since last year’s "Freesia", Dylan has become a popular actor in one fell swoop. In 2023, there was not only a hit of "Floating Map" in Dylan, but also his workplace drama "Come on today" and his partner Zhou Ye’s Republic of China drama "Youth in War" were broadcast. These plays were all performed by Dylan before he became popular, and some of them were not even the protagonists, but they still had a hot topic because of Dylan.

In the first half of the year, Dylan made 607 hot searches, which were not only broadcast by many dramas, but also talked about constantly because of her participation in the variety show Fifty Kilometers of Peach Blossom House and her new dramas "Taking Love as a Camp" and "Da Feng Da Geng Ren". Taking Love as a Camp, Dylan is the partner of the new generation of Xiaohua White Deer, and the costume drama Da Feng Da Geng Ren is the partner of 95 Hua Tian Xi Wei, both of which are popular and topical.

Editor in charge:

According to a report by China Taiwan Province Network today (28th), the Taiwan Province Affairs Office of the State Council held a regular press conference in the press room of the Taiwan Affairs Office at 10: 00 this morning, which was presided over by Ma Xiaoguang, director and spokesperson of the Information Bureau of the Taiwan Affairs Office. Ma Xiaoguang is talking about Taiwan today.baysquareWhile refusing to accept the "1992 Consensus" and repeatedly saying that cross-strait exchanges should not presuppose, he said that the "1992 Consensus" and the one-China principle it embodies are objective facts that conform to the jurisprudence and reality of cross-strait relations, and are not artificial preconditions.The key to the so-called no preconditions is not to admit that both sides of the strait belong to the same China, that is, not to give up the position of "two States" and "one country on each side".

With regard to Taiwan Province’s upcoming "October 10th Speech", Tsai Ing-Wen may not be able to hand in a qualified answer. Ma Guang Xiao, spokesman of the Taiwan Affairs Office, said that the key to maintaining the peaceful development of cross-strait relations lies in adhering to the political foundation of the "1992 Consensus".No matter what the leaders of the Taiwan Province authorities say, this hurdle cannot be bypassed.

In view of the fact that Xie Xuehong, the founder of the Taiwan Communist Party and the founder of the Taiwan Alliance, was packaged as a pioneer of Taiwan independence by some "Taiwan independence" on the island and set up a monument, Ma Xiaoguang said,Ms. Xie Xuehong is also a members of the Communist Party of China (CPC). Her spirit of fighting against Japanese colonial rule and realizing the reunification of the motherland is indelible and cannot be distorted. The "Taiwan independence" forces tried to make political articles and mislead the people of Taiwan Province, only to expose their distorted mentality and clumsy tactics.

The mainland released the reform dividend, and the development of Taiwanese enterprises in the mainland showed a steady trend.

Ma Guang Xiao, spokesman of the Taiwan Affairs Office of the State Council, said today that at present, the production and operation of Taiwan-funded enterprises in the mainland are generally stable. According to the statistics of the Ministry of Commerce, in the first eight months of this year, there were 2,392 new Taiwan-funded projects in the mainland (excluding the third transfer), up 23.93% year-on-year; The actual use of Taiwan capital was US$ 1.491 billion, up 33.09% year-on-year. At present, the mainland is implementing the "Thirteenth Five-Year Plan", deepening the construction of the "Belt and Road", promoting the coordinated development of Beijing-Tianjin-Hebei, the Yangtze River Economic Belt, the large-scale development of the western region, and revitalizing the old industrial bases in Northeast China. It is hoped that the transformation and upgrading of Taiwanese enterprises will be in line with these strategies and achieve greater development.

As long as we have a correct understanding of cross-strait relations, we all take a positive attitude.

Ma Xiaoguang, spokesperson of the Taiwan Affairs Office of the State Council, told the visiting delegation of Taiwan’s counties and cities a few days ago that our determination and sincerity in promoting cross-strait exchanges and cooperation in various fields and seeking for the well-being of compatriots on both sides of the strait will not change. It is understood that eight counties and cities in Taiwan Province and relevant parties in the mainland are planning to hold agricultural special products fairs and tourism promotion conferences in eight counties and cities in Taiwan Province in the mainland this year. Relevant enterprises in mainland China are also planning to visit eight counties and cities and negotiate the procurement of agricultural products. He also stressed that as long as we have a correct understanding of the nature of cross-strait relations and county-city exchanges and are willing to contribute to enhancing the well-being and affection of compatriots on both sides of the strait, we all have a positive attitude.

Democratic Progressive Party’s 30-year-old radical or flexible "Taiwan independence" is doomed to failure

When talking about the 30th anniversary of the founding of Democratic Progressive Party, Ma Guang Xiao, spokesman of the Taiwan Affairs Office of the State Council, said today that Democratic Progressive Party’s long-term adherence to the "Taiwan independence" party platform and the "Taiwan independence" separatist proposition of "one country on each side" undermined the political foundation for the peaceful development of cross-strait relations, incited cross-strait confrontation and obstructed cross-strait exchanges, which seriously impacted and affected the good momentum and achievements of the peaceful development of cross-strait relations since 2008 and damaged the vital interests of Taiwan Province compatriots. It can be said that if Democratic Progressive Party does not give up the "Taiwan independence", it will be difficult to find a way out in cross-strait relations. Whether it is a radical "Taiwan independence" or a so-called gradual and flexible "Taiwan independence", it is doomed to failure.

Lee Teng-hui’s clamor for so-called "constitutional reform" can only be a dream.

When talking about Lee Teng-hui’s recent clamor to promote the so-called "constitutional reform", Ma Xiaoguang said today that there is a fashionable political term in Taiwan Province called "people who pretend to sleep can’t wake up". I think Lee Teng-hui is the one who can’t wake up from the dream of "Taiwan independence". However, the development trend of the world and the development trend of the two sides of the strait are doomed to be a dream. What’s important is that compatriots on both sides of the strait may not forget that during Chen Shui-bian’s administration, he frantically tried to change Taiwan Province’s status as a part of China by means of "constitutional reform" and "referendum" and suffered a shameful failure. If someone still wants to inherit the mantle of Lee Teng-hui and Chen Shui-bian, I don’t think the end will be good, and everyone can foresee it.

Taiwan Province should not mislead the public with the so-called flight safety as an excuse.

In response to Taiwan Province’s claim that seeking to participate in the International Civil Aviation Congress is based on its responsibility for the safety of international air navigation, Ma Xiaoguang said that Taiwan Province should deeply reflect on its failure to participate in the 39th ICAO Congress, instead of making accusations against the mainland and misleading public opinion. The mainland has always attached importance to the needs of Taiwan Province compatriots in the field of civil aviation, and will continue to provide relevant information to Taiwan Province. Taiwan Province’s aviation safety has nothing to do with Taiwan Province’s participation in international civil aviation conferences.

Taiwan authorities should not be led by the "extremely independent" forces.

Ma Xiaoguang, spokesman of the Taiwan Affairs Office of the State Council, responded to the claim of the "United Taiwan Party" that it would not rule out sending a letter inviting Lai Lama or Rebiya to counter the mainland: It is not surprising that inviting figures like Dalai Lama and Rebiya to Taiwan Province may have an impact and harm on cross-strait relations. The key is that Taiwan Province’s rulers should not misjudge the situation and be led by "ultra-independence" forces.

Green camp said that the eight mayors who landed in the county were "blue eight slaves" selling Taiwan. Ma Xiaoguang: the Qing Dynasty cleared itself.

Mayors of eight counties in Taiwan Province made achievements when they landed, and they were called "Blue Eight Slaves" by green camp citizens to sell Taiwan. Ma Guang Xiao, spokesman of the Taiwan Affairs Office of the State Council, said that those who are clear are clear and those who are turbid are turbid. Those acts of throwing dirty water at others certainly reflect the political nature of these politicians, but they still can’t solve the vital interests of Taiwan Province people.

The individual remarks of individual politicians in the United States do not represent the attitude of the US government.

Ma Xiaoguang, spokesman of the Taiwan Affairs Office of the State Council, responded to the US Congressman’s claim that he should join ICAO for the sake of Taiwan Province’s flying safety: The US government adheres to the one-China policy and has made commitments on bilateral occasions and major international occasions many times. As for the individual remarks of individual politicians in the United States, they do not represent the attitude of the US government.

"Taiwan independence" exposes a distorted mentality: the founders of the packaging Taiwan Communist Party and the Taiwan Alliance are the pioneers of "Taiwan independence"

In view of the fact that Xie Xuehong, the founder of the Taiwan Communist Party and the founder of the Taiwan Alliance, was packaged as a pioneer of Taiwan independence by some "Taiwan independence" on the island and a monument was erected, Ma Guang Xiao, spokesman of the Taiwan Affairs Office, said today that Ms. Xie Xuehong is also members of the Communist Party of China (CPC), and her spirit of fighting against Japanese colonial rule and realizing the reunification of the motherland is indelible and cannot be distorted. The "Taiwan independence" forces tried to make political articles and mislead the people of Taiwan Province, only to expose their distorted mentality and clumsy tactics.

"Taiwan independence" organization set up a monument for Xie Xuehong and tried to package it as "Taiwan independence Pioneer"　　

It is the key to correctly understand cross-strait relations if blue-green counties and cities reshuffle.

Ma Guang Xiao, spokesman of the Taiwan Affairs Office of the State Council, said today that Taiwan Province will also face a county and mayor election in 2018. If the blue and green counties and cities are reshuffled, and whether the eight measures taken by the mainland to promote exchanges with eight counties and cities in Taiwan Province will be adjusted, he said that the key to cross-strait county-city exchanges is to have a correct understanding of the nature of cross-strait relations and county-city exchanges, which will help the development of interaction, exchanges and cooperation between the two sides.

In addition, there are constant protests on the island, calling for work, survival and the "1992 Consensus". Ma Xiaoguang, a spokesperson for the Affairs Office of the State Council, said that in a word, these ordinary people in Taiwan Province, people from all walks of life, took to the streets to express their feelings and dissatisfaction, and they were actually voting on the cross-strait policies of the Taiwan Province authorities with their feet.

The following is the full text of the conference (from Hong Kong China Rating Society)

Ma Xiaoguang: Hello, everyone, the press conference will begin now. Now please ask questions.

Xinhua News Agency: Since May 20th this year, Taiwan Province has refused to accept the "1992 Consensus" on the one hand, and repeatedly said that cross-strait exchanges should not presuppose. What is your comment?

Ma Xiaoguang: The "1992 Consensus" and the one-China principle it embodies are objective facts that conform to the jurisprudence and reality of cross-strait relations, and are not artificial preconditions. This consensus was reached by both sides of the strait through communication and consultation, seeking common ground while reserving differences, and was not unilaterally imposed on Taiwan Province by us. When dealing with each other, we must first make clear the nature of their relationship. The key to the so-called no preconditions is not to admit that both sides of the strait belong to the same China, that is, not to give up the position of "two States" and "one country on each side". The Democratic Progressive Party authorities unilaterally undermine the common political foundation of the two sides of the strait, in fact, they impose their denial of consensus on the mainland, which is the prerequisite for cross-strait exchanges and interactions.

Reporter from Hong Kong China Rating Society: A few days ago, a visiting delegation from Taiwan’s counties and cities visited China. The mainland will take eight measures to promote exchanges and cooperation with these eight counties and cities. How will the spokesman implement these measures in the future? In addition, does this mean that the mainland will adopt a different policy towards Taiwan Province’s blue-green camp? Thank you.

Ma Xiaoguang: Not long ago, a delegation of mayors from some counties in Taiwan Province came to the mainland and said that they would continue to support the "1992 Consensus". We responded positively and put forward eight measures to further promote the relevant departments and cities in the mainland to strengthen exchanges and cooperation with these eight counties and cities. Our determination and sincerity to promote cross-strait exchanges and cooperation in various fields and to benefit compatriots on both sides of the strait will not change. As long as we have a correct understanding of the nature of cross-strait relations and county-city exchanges and are willing to contribute to enhancing the well-being and affection of compatriots on both sides of the strait, we all have a positive attitude.

It is understood that eight counties and cities in Taiwan Province and relevant parties in the mainland are planning to hold agricultural special products fairs and tourism promotion conferences in eight counties and cities in Taiwan Province in the mainland this year. Relevant enterprises in mainland China are also planning to visit eight counties and cities and negotiate the procurement of agricultural products.

CCTV reporter: On October 10th, Tsai Ing-Wen will also deliver a "Double Ten Speech". We noticed that some media analyzed that Tsai Ing-Wen could not hand in a qualified answer sheet on cross-strait relations in this speech. How did the spokesman respond to this? Thank you.

Ma Xiaoguang: Since May 20th this year, the good momentum and achievements of the peaceful development of cross-Straits relations, which lasted for eight years, have been seriously impacted, and the vital interests of Taiwan Province people have been harmed. We all know the crux of this situation and the responsibility.

The practice of both positive and negative aspects of cross-strait relations proves that different road choices determine different prospects. The key to maintaining the peaceful development of cross-strait relations lies in adhering to the political foundation of the "1992 Consensus". No matter what the leaders of the Taiwan Province authorities say, this hurdle cannot be bypassed.

I have said many times that our major policy toward Taiwan is clear and consistent. We will continue to adhere to the political foundation of the "1992 Consensus", resolutely oppose the "Taiwan independence" and firmly safeguard the one-China principle. We will further expand exchanges between compatriots on both sides of the strait, promote exchanges and cooperation in various fields, and build a cross-strait community of destiny. We believe that no force can stop the peaceful development of cross-strait relations and the historical process of the great rejuvenation of the Chinese nation.

Reporter from Xiamen Satellite TV, Fujian: Recently, Taiwan Province and the southeast coastal areas of the mainland have been frequently ravaged by typhoons. May I ask the spokesman whether the two sides can strengthen relevant cooperation in disaster reduction and prevention to cope with the bad weather of typhoons and other disasters? Thank you.

Ma Xiaoguang: Recently, several destructive typhoons have successively affected some areas on both sides of the strait, causing heavy losses to people’s lives and property on both sides of the strait. We have been paying close attention to this, and I would like to take this opportunity to express my sincere condolences to the affected compatriots. It is understood that during the typhoon "Nibert" and "Moranti" affected Taiwan Province and mainland China this year, meteorological professionals on both sides of the strait communicated and exchanged in real time through the instant messaging software system. We actively support everything that is conducive to compatriots on both sides of the strait to jointly do a good job in meteorological disaster prevention and mitigation and to enhance the well-being of people’s livelihood on both sides of the strait.

Taiwan Province TVBS TV reporter: Three "legislators" in Democratic Progressive Party have been unable to get Hong Kong visas one after another. Some of them went to the Hong Kong Forum, and some went to Hong Kong to take refuge after a typhoon entered the country, but they failed to get Hong Kong visas. The "Green Committee" thinks that everything is green. How does the spokesman comment on this?

Ma Xiaoguang: This is an internal affair of the Hong Kong Special Administrative Region. We respect the Hong Kong SAR Government’s handling of the entry and exit of overseas personnel in accordance with the Basic Law. Thank you.

Fujian straits herald reporter: what is the overall situation of Taiwan-funded enterprises investing and operating in the mainland at present? What are the opportunities for the transformation and upgrading of Taiwan-funded enterprises under the new situation of the implementation of the 13 th Five-Year Plan in the mainland? Thank you.

Ma Xiaoguang: At present, the production and operation of Taiwan-funded enterprises in the mainland are generally stable. With the continuous release of reform dividends and market space in the mainland, the development of Taiwanese businessmen in the mainland has generally shown a trend of structural transformation, technological upgrading and capital increase and share expansion. Taiwanese investment in the mainland continues to grow.

According to the statistics of the Ministry of Commerce, in the first eight months of this year, there were 2,392 new Taiwan-funded projects in the mainland (excluding the third transfer), up 23.93% year-on-year; The actual use of Taiwan capital was US$ 1.491 billion, up 33.09% year-on-year.

At present, the mainland is implementing the "Thirteenth Five-Year Plan", deepening the construction of the "Belt and Road", promoting the coordinated development of Beijing-Tianjin-Hebei, the Yangtze River Economic Belt, the large-scale development of the western region, and revitalizing the old industrial bases in Northeast China. It is hoped that the transformation and upgrading of Taiwanese enterprises will be in line with these strategies and achieve greater development.

Taiwan Province Zhongtian TV reporter asked: Chen Deming, president of ARATS, said in an exclusive interview with Lianhe Zaobao that there was no difference in treatment between blue and green ruling counties and cities, but this time it was true that the Taiwan Affairs Office of the State Council released more benefits to the eight counties and cities of Lanying. Does Taiwan Province think there is a gap between these? Is there a difference in treatment without customs clearance code? Thank you.

Ma Xiaoguang: You may have noticed that President Yu Zhengsheng made it clear in his talks with mayors of eight counties that our determination and sincerity to promote cross-strait exchanges and cooperation in various fields and to benefit compatriots on both sides of the strait will not change. As long as we have a correct understanding of cross-strait relations and the nature of cross-strait county-city exchanges, of course, we all have a positive attitude.

International TV reporter: Taiwan Province claims that it seeks to participate in the international civil aviation conference because of its responsibility for the safety of international air navigation. What is the spokesman’s comment on this? Thank you.

Ma Xiaoguang: On the question that Taiwan Province was not invited to participate in the 39th ICAO Assembly, I think Taiwan Province should deeply reflect on why it was able to participate three years ago, but not this year, instead of making accusations against the mainland and misleading public opinion, and even using the so-called flight safety in Taiwan Province as an excuse to mislead the people of Taiwan Province. Here, I solemnly express that the mainland has always attached importance to the needs of Taiwan Province compatriots in the field of civil aviation, and will continue to provide relevant information to Taiwan Province. It can be said that Taiwan Province’s access to ICAO standards, recommended measures and related information is smooth, and the information is complete and comprehensive. Taiwan Province enjoys convenient navigation with many cities in the world. Facts have proved that Taiwan Province’s aviation safety has nothing to do with whether Taiwan Province participates in the International Civil Aviation Congress or not.

China Taiwan Province Network reporter: Ma Ying-jeou, the former leader of Taiwan Province, said in a lecture at Soochow University a few days ago that the Diaoyu Islands and the South China Sea Islands belong to China’s inherent territory, and the Japanese side’s claim is stealing. When talking about cross-strait relations, Ma Ying-jeou said that no matter how cross-strait relations are handled, they should not fight. He said that peace is the highest value and can really bring prosperity. How does the spokesman comment on this statement? Thank you.

Ma Xiaoguang: Because Mr. Ma is no longer in public office, according to reason, we don’t comment on the speeches of individual Taiwan Province people. However, he mentioned two points in his speech, which we should understand: First, on the sovereignty of Diaoyu Island and South China Sea, we hope compatriots on both sides of the strait will jointly safeguard the inheritance left by our ancestors. Second, we hope for peace in the Taiwan Strait and the peaceful development of cross-strait relations. To this end, we have found such a path since 2008, and its foundation is to adhere to the "1992 Consensus". If we continue along this road, the new Taiwan Province administration must give a clear answer to the common political foundation of the two sides.

Fujian Strait Satellite TV reporter: Democratic Progressive Party is celebrating the 30th anniversary of the founding of the Party. How do you evaluate the history of this party in the past 30 years from the perspective of the mainland, and what expectations do you have for its future? Thank you.

Ma Xiaoguang: It seems that this activity has been postponed. As we all know, Democratic Progressive Party has long adhered to the "Taiwan independence" party platform and the "Taiwan independence" separatist proposition of "one country on each side", undermining the political foundation for the peaceful development of cross-strait relations, inciting cross-strait confrontation and obstructing cross-strait exchanges, which has seriously impacted and affected the good momentum and achievements of the peaceful development of cross-strait relations since 2008 and harmed the vital interests of Taiwan Province compatriots. It can be said that if Democratic Progressive Party does not give up the "Taiwan independence", it will be difficult to find a way out in cross-strait relations. Whether it is a radical "Taiwan independence" or a so-called gradual and flexible "Taiwan independence", it is doomed to failure.

Taiwan Province Wangbao asked: I would like to ask about the visit to 8 counties and cities in Pan-Blue again. We know that Taiwan Province will also face a county mayor election in 2018. If the blue-green counties and cities are reshuffled, will there be some adjustments to these eight policies? The second question is that some media reported that the "Beijing-Taiwan Science and Technology Forum" will be held in Beijing in the middle and late October. What is the current preparation? If representatives of Taiwan Province are invited, will economic and trade officials still be invited to lock in these pan-blue county mayors? The third question, in the National Palace Museum in Taipei, it was recently decided to remove the 12 copies of animal heads given by Jackie Chan. What is the comment of the Taiwan Affairs Office?

Ma Xiaoguang: First, the key to cross-strait county-city exchanges is to have a correct understanding of the nature of cross-strait relations and county-city exchanges. I think this will help the two sides to interact, exchange and cooperate. As for the "Beijing-Taiwan Science and Technology Forum", as far as I know, it is a regular event held every year, which is specifically organized by Beijing. At present, the preparatory work is under way, and I don’t know the relevant details. I will let you know if there is further information.

Regarding the third question, you have noticed that Mr Jackie Chan has made a public response, saying that their donation conveys an attitude of "respecting civilization and protecting culture". Whether the National Palace Museum in Taipei respects this attitude or has other purposes, I think everyone has their own public comment.

Global Network reporter: Now we have noticed that Taiwan Province’s "United Taiwan Party" recently said that Tsai Ing-Wen authorities should take countermeasures against failing to get an invitation letter from the International Civil Aviation Conference, and they even suggested that the Taiwan authorities should invite people like the Dalai Lama or Rebiya to visit Taiwan, without excluding the invitation from the "United Taiwan Party". What is the spokesman’s comment on this? In addition, we have also noticed that some members of the US Congress sent a letter to congratulate the so-called 105th "Taiwan Province National Day". The statement even claimed that Taiwan Province should participate in ICAO because of its flying safety needs. How do you comment on this?

Ma Xiaoguang: The first question is about the possible impact and harm to cross-strait relations caused by inviting people like Dalai and Rebiya to Taiwan Province. Everyone knows the specific political stance and nature of the "United Taiwan Party". It is not surprising that they make such wild remarks. The key is that the Taiwan Province rulers should not misjudge the situation and be led by the "ultra-independence" forces.

Second, the U.S. government adheres to the one-China policy, and has made many commitments on bilateral occasions and major international occasions. As for the individual remarks of individual politicians in the United States, they do not represent the attitude of the U.S. government.

Fujian Southeast Satellite TV reporter: The landing of mayors of eight counties in Taiwan Province has achieved fruitful results. Some people in green camp alleged that the mayors of these counties were "blue slaves" selling Taiwan. What is the spokesman’s comment? Thank you.

Ma Xiaoguang: The eight visiting county mayors have refuted and clarified. I think, the clear is self-clear, and the turbid is self-turbid. Those acts of throwing dirty water at others certainly reflect the political nature of these politicians, but they still can’t solve the vital interests of Taiwan Province people.

Hong Kong Phoenix TV reporter: I would like to ask Taiwan Province to attend the International Civil Aviation Conference. Some commentators said that if Taiwan Province insists on not recognizing the "1992 Consensus", it will affect Taiwan Province’s space to participate in international affairs. How do you comment on this? Thank you.

Ma Xiaoguang: Undoubtedly, the "1992 Consensus" is not only an important political basis for the peaceful development of cross-strait relations, but also an important basis for the two sides to build mutual trust and carry out benign interaction. Without this foundation, the mutual trust between the two sides and the achievements in all aspects of the peaceful development of cross-strait relations will inevitably be affected.

Xinhua News Agency: Lee Teng-hui, the former leader of the Taiwan Province authorities, recently clamored for the so-called "constitutional reform" and clamored for the normalization of Taiwan Province. What is the spokesman’s comment on this?

Ma Xiaoguang: Now there is a fashionable political term in Taiwan Province called "People who pretend to sleep can’t wake up". I think Lee Teng-hui is the one who can’t wake up from the dream of "Taiwan independence". However, the development trend of the world and the development trend of the two sides of the strait are doomed to be a dream. If I have to respond, I’ll quote a poem by Du Fu, a poet in the Tang Dynasty: "Ercao’s body is destroyed in name, and he won’t waste the rivers and rivers." Of course, it is important that compatriots on both sides of the strait may not forget that during Chen Shui-bian’s administration, he frantically tried to change Taiwan Province’s status as a part of China by means of "constitutional reform" and "referendum" and suffered a shameful failure. If someone still wants to inherit the mantle of Lee Teng-hui and Chen Shui-bian, I don’t think the end will be good, and everyone can foresee it.

Fujian Strait Satellite TV reporter: Recently, Xie Xuehong, the founder of the Taiwan Communist Party and the founder of the Taiwan Alliance, was packaged by some "Taiwan independence" organizations on the island as a pioneer of "Taiwan independence" and also set up a monument. How did the spokesman comment on this? Thank you.

Ma Xiaoguang: As you may know, Ms. Xie Xuehong is also a members of the Communist Party of China (CPC). Her spirit of fighting against Japanese colonial rule and realizing the reunification of the motherland is indelible and cannot be distorted. The "Taiwan independence" forces tried to make political articles and mislead the people of Taiwan Province, only to expose their distorted mentality and clumsy tactics.

Guangdong Shenzhen Satellite TV reporter: I have three questions. First, can Taiwan Province attend the APEC meeting in Peru in November this year? Is it possible to participate only if the Taiwan Province authorities respond positively to the "1992 Consensus"? Second, the Taiwan Province authorities have improperly frozen the Kuomintang’s party property by the Party Property Processing Committee, and the Kuomintang’s fund mobilization is facing a break. What is the spokesman’s comment on the current predicament faced by the Kuomintang? Third, regarding the KMT-CPC Forum, do you have any information that the spokesman can introduce? Thank you.

Ma Xiaoguang: I talked about these three issues at the last press conference. First, people from Taiwan Province should attend APEC-related activities in accordance with the relevant provisions of the APEC Memorandum of Understanding. Second, we have noticed that there are many comments on the island, and we will continue to pay attention to the development of the situation. Third, regarding the operation of the platform between the Kuomintang and the Communist Party, the two sides are in contact and communication, and we will release the exact news in time.

CCTV reporters on both sides of the Taiwan Straits: We have seen that protests have been going on on Taiwan Province Island since September, and many people in Taiwan Province have also taken to the streets to express their dissatisfaction with the ruling authorities. For example, the tourism industry has directly shouted out that they want the "1992 Consensus", that they want to work and survive. Can this be understood as public pressure on the Taiwan Province authorities? What does the spokesman think of the current situation on the island? Thank you.

Ma Xiaoguang: I think, in a word, these ordinary people in Taiwan Province, people from all walks of life who care about their livelihood, have taken to the streets to express their feelings and dissatisfaction. They are actually voting on the cross-strait policies of the Taiwan Province authorities with their feet.

This is the end of the press conference. Thank you for coming.

(Observer Network Comprehensive China Taiwan Province Network, China Review Society Report)

Text | BT Financial Data Pass, Author | Three Crazy

Cathay Pacific has been controversial because of its attitude towards non-English-speaking passengers, but this does not affect its ultra-high profit margin.

In May 2023, Cathay Pacific was pushed to the forefront because of the blanket incident. Some passengers accused the flight attendants of showing obvious discrimination when providing blankets to non-English passengers. This incident quickly sparked heated discussion on social media.

In fact, this is not the first time that Cathay Pacific has attracted public attention because of discrimination. In the past few years, similar incidents have been common, and every time they have caused widespread discussion and criticism in society. However, Cathay Pacific does not seem to have learned from these incidents, and its service attitude has not been fundamentally solved.

Looking back at the long river of history, the development history of Cathay Pacific is accompanied by glory and shadow.

Since its birth in 1946, Cathay Pacific has carried the dream of Hong Kong’s take-off. At that time, Hong Kong was in the midst of a booming economy, and the founders of Cathay Pacific, Dragonair and Singapore Airlines were ambitious and determined to write their own legends in this hot land. They bravely embarked on the journey with a small plane and several short-haul routes.

However, the road to entrepreneurship is not smooth sailing. Cathay Pacific opened international routes and bought new aircraft during the expansion period, but its management means and technical level are still immature. Facing the competition of international aviation giants, Cathay Pacific strives for a breakthrough, but it also has to face various internal contradictions and challenges.

Entering the period of internationalization, Cathay Pacific ushered in a golden period of development. The opening of international routes such as new york, London and Sydney, as well as the cooperation with many international airlines, have made Cathay Pacific gradually emerge. However, just when Cathay Pacific seemed to have unlimited scenery, the shadow came quietly. The decline in service quality and frequent management loopholes have dealt an unprecedented blow to Cathay Pacific’s reputation.

During the merger period, Cathay Pacific tried to make up for its own shortcomings through acquisition and cooperation. The acquisition of Dragonair has undoubtedly injected new vitality into Cathay Pacific, but it has also brought many integration problems. At the same time, the cooperation and alliance with other airlines are not smooth sailing, and problems such as interest disputes and cultural differences have put Cathay Pacific into a situation of internal and external troubles.

In the period of modernization and transformation, Cathay Pacific tried to revive itself through digital transformation and the introduction of new aircraft models and technical means. However, in the face of intensified market competition and changes in customer demand, Cathay Pacific’s road to transformation seems to be difficult. Although innovative measures such as SkyTeam membership plan have been launched, it still needs to be improved in terms of service quality and operational efficiency.

In addition to service disputes, Cathay Pacific’s financial situation is also worrying. The performance of losing money for three consecutive years makes investors feel pessimistic about the company’s prospects. The latest financial report shows that despite the company’s efforts in some aspects, revenue and net profit have been greatly improved, but the overall financial situation has not improved significantly.

After the recent relatively bright financial report was released, Cathay Pacific’s share price fell instead of rising. According to statistics, the stock price fell by 3.27% in the trading day after the financial report was released, which reflected the market’s concern about the company’s future performance. As of the close of March 14th, Cathay Pacific’s share price was HK$ 8.870 per share, which was 40% lower than the high of HK$ 14.672.

Cathay Pacific released its financial report for 2023 on March 13th, and its performance showed a positive trend of turning losses into profits. On the whole, after experiencing the losses in 2022, the company achieved a significant recovery in performance through efforts.

From the overall performance overview, in 2023, Cathay Pacific’s performance income reached 94.485 billion Hong Kong dollars, compared with the loss of 6.623 billion Hong Kong dollars in the same period in 2022, achieving a significant increase in net profit of 9.789 billion Hong Kong dollars. This achievement is mainly due to the strong recovery of passenger transport business.

What is optimistic is that Cathay Pacific’s passenger transport business has grown substantially. In terms of passenger transport, Cathay Pacific’s passenger transport revenue is HK$ 55.951 billion, an astonishing increase of 308.8% compared with 2022. In 2023, the company transported 18 million passengers, with an average daily passenger capacity of 49,300 passengers, an increase of 541.4% compared with 2022. This growth reflects the strong recovery of the aviation market and Cathay Pacific’s efforts in passenger service.

The recovery in North Asia has been remarkable. From the perspective of Cathay Pacific’s global passenger transport business, the data of all regions have shown an increasing trend. It is particularly noteworthy that the recovery of North Asia, which is dominated by the mainland of China, is more remarkable. The financial report shows that in North Asia, the company’s carrying capacity increased by 534.7% year-on-year, and the passenger carrying rate also increased by 23.6 percentage points, reaching 78.4%. This growth rate ranks first in all regions, showing the importance of the North Asian market to Cathay Pacific and the company’s strong competitiveness in the region.

In addition to North Asia, Cathay Pacific’s performance in other regions can not be ignored. In South Asia, Middle East and Africa, the company’s carrying capacity increased by 467.7% year-on-year, and the passenger carrying rate also increased by 15.9 percentage points. In Southeast Asia, the carrying capacity increased by 456.6% year-on-year, and the passenger carrying rate increased by 17.7 percentage points. These data show the company’s business recovery and growth momentum on a global scale.

As we all know, the gross profit margin of Maotai is the ceiling of many industries.The gross profit margin can be higher than that of Maotai, and Cathay Pacific is one of the few.

Cathay Pacific’s gross profit margin in 2023 was as high as 91.85%, which even exceeded the gross profit margin of 91.71% of Kweichow Moutai in the same period. In general, gross profit margin is regarded as an important indicator of enterprise profitability and operating efficiency. Cathay Pacific’s gross profit margin is higher than Maotai’s, which explains its high profit margin in aviation business to some extent.

However, when we further observe Cathay Pacific’s net interest rate, we find that its net interest rate is only 10.36%, far lower than that of Kweichow Moutai’s 53.09%. This phenomenon of high gross profit margin and low net interest rate actually reveals a series of challenges Cathay Pacific faces in its operation.

First of all, labor cost is one of the important expenses in airline operation.With the recovery of global economy and the recovery of aviation market, in order to attract and retain talents, airlines often need to improve the salary and welfare level of employees. This has increased the labor cost of Cathay Pacific to a certain extent, thus compressing its net interest rate space.

Secondly, in addition to labor costs, airlines also need to face various cost pressures such as fuel price fluctuations, aircraft maintenance costs, and route operating costs.The changes of these cost factors will directly affect the profitability of airlines. For example, the increase in fuel prices will increase the operating costs of airlines, thus reducing their net interest rates.

In addition, market competition is also one of the important factors that affect the net interest rate of airlines.In the highly competitive aviation market, airlines often need to adopt price competition strategy in order to compete for market share and customer resources. Although this strategy can increase sales and market share, it will also reduce the profit rate of airlines to some extent.

Although Cathay Pacific has a high gross profit margin, its net interest rate performance is not ideal due to the increase of labor costs and market competition. In order to improve profitability, Cathay Pacific needs to make more efforts in cost control, market expansion and service quality improvement. Because Cathay Pacific’s high gross profit margin did not bring high net interest rate.

In the aviation industry, the performance of companies is often affected by multiple factors such as macroeconomics, fuel price, market competition and service quality. Cathay Pacific, as one of them, does not have obvious advantages over the same industry in some aspects.

First look at the revenue data. Although the revenue disclosed by Cathay Pacific in the latest financial report is still huge, compared with the industry leaders, its growth rate is somewhat weak. Take Singapore Airlines and Emirates as examples. Both airlines have achieved steady revenue growth in the past few years, while Cathay Pacific’s revenue growth is relatively slow.

There are many reasons for this situation. On the one hand, the market competition is becoming increasingly fierce, especially in Asia, where emerging airlines are constantly emerging, posing a severe challenge to traditional airlines. On the other hand, Cathay Pacific may be too conservative in route layout and market expansion, failing to fully grasp the growth opportunities of emerging markets.

Let’s look at the net profit data. Cathay Pacific’s net profit performance is also not optimistic. Compared with its counterparts such as Singapore Airlines and Emirates Airlines, Cathay Pacific’s net profit level is low and fluctuates greatly. This instability not only affects the profitability of the company, but also increases the risk of investors.

The reasons of net profit fluctuation mainly include fuel price fluctuation, exchange rate change, market demand change and other factors. However, Cathay Pacific seems to be unable to cope with these risks. Especially in terms of fuel prices, Cathay Pacific failed to effectively hedge the pressure brought by rising fuel costs, resulting in a greater impact on net profit.

In terms of gross profit margin and net interest rate, Cathay Pacific’s performance is also unsatisfactory. Although its gross profit rate is relatively high, its net profit rate is far below the average level of the same industry. This means that the company is facing great cost pressure in the operation process, and the profit space is severely squeezed. This is mainly due to the pressure of labor cost, fuel cost and market competition faced by the company in the operation process, which leads to the compression of profit space.

Because Cathay Pacific has been criticized for its service quality, there are as many as 721 complaints about Cathay Pacific on the complaint platform Black Cat. In order to improve the service level, the company has increased its investment in employee training, which has increased its labor cost to some extent. It is reported that the labor cost of Cathay Pacific in 2023 increased by 3 billion yuan compared with previous years.

Although Cathay Pacific has made efforts in service training, its service problems are still frequent, which may be related to the company’s management system, staff quality and corporate culture. In contrast, Singapore Airlines and Emirates Airlines have shown good stability in terms of gross profit margin and net interest rate.

There are two main reasons for this situation. First of all, fixed expenses such as labor costs account for a relatively high proportion, which makes it difficult for Cathay Pacific to reduce costs during its operation. Especially in terms of employee compensation and welfare, Cathay Pacific needs to invest a lot of money to maintain the stability of the workforce and the quality of service. Secondly, the fierce market competition makes airlines have to adopt price competition strategy to attract customers, which further reduces Cathay Pacific’s profit margin.

In fact, how to find a balance between improving service quality and controlling costs is a big problem for Cathay Pacific. On the one hand, improving service quality can improve customer satisfaction and loyalty, thus bringing more market share and benefits to the company. On the other hand, excessive investment may lead to rising costs, declining profit margins and even losses. Therefore, Cathay Pacific needs to pay more attention to cost control and operational efficiency improvement on the premise of ensuring service quality.

The change in the rating of Cathay Pacific also reflects its performance to some extent. In recent years, due to the problems in service quality, cost control and market competition, some institutions have downgraded Cathay Pacific. These rating changes not only affected the company’s share price performance, but also dealt a blow to its market reputation and investor confidence.

In the latest trading day, Cathay Pacific’s share price fell by more than 4%, and CLSA downgraded its rating and earnings forecast. In the research report released by CITIC Lyon, Cathay Pacific’s investment rating was adjusted from "buy" to "outperform the market" and the target price was kept at HK$ 10.6.

The report predicts that the profit attributable to ordinary shareholders of the company will increase by 29% to HK$ 5.1 billion in the second half of 2023, which is 22% higher than previously expected. At the same time, it is expected that the company will resume paying ordinary dividends in advance.

However, CLSA believes that the risk return of the current share price is not attractive in view of the changes in air ticket prices and rising staff costs. Therefore, the agency lowered its profit forecast for 2024-25 by 4-5%, mainly because it has not seen obvious signs of improvement in freight business.

ICBC International, the investment banking department of the largest bank in the Mainland, downgraded Cathay Pacific to "strong sell" and adjusted its target price to HK$ 6. This shows that ICBC International is pessimistic about Cathay Pacific’s future development prospects.

To sum up, Cathay Pacific’s performance in 2023 does not have obvious advantages in the aviation industry. In order to enhance its competitiveness, Cathay Pacific needs to make more efforts in service quality, cost control, operational efficiency and market risk management.

　　Moscow, August 31st (Xinhua) Reporter Lai Yuhong and correspondent Jing Haihui reported that the cycling race of "International Military Competition -2020" and "Tank Biathlon" ended on August 30th, and all three teams of China team successfully completed the race and advanced to the semi-finals.

　　There are 45 teams from 16 countries and regions participating in the cycling race of "Tank Biathlon". The 702nd team, 703rd team and 701st team from China won the third, fourth and tenth place respectively.

　　On the morning of August 30th, local time, China’s team 703 made its debut at the Russian Alabino shooting range, competing fiercely with Belarusian, Serbian and Azerbaijani teams. During the competition, although the third shot missed the target in the artillery shooting, the members of the 703 car group quickly adjusted their mentality and galloped all the way through obstacles such as wading fields, soil ridges and rutting bridges. The anti-aircraft machine guns and parallel machine guns all hit the target, and finally won the first place in the group and ranked fourth in the cycling race. So far, all three teams of the China team have finished the race and won the first place in the group.

　　"International Military Competition -2020" was held in Russia, Belarus, Armenia, Azerbaijan and Uzbekistan from August 23rd to September 5th. 156 teams from more than 30 countries and regions participated in the competition, with more than 5,000 participants. China has sent six teams and more than 260 officers and men to participate in six events, such as "Top Scout", "Two Tanks", "Safe Environment", "Open Water", "Automobile Expert" and "Airborne Platoon".

　　"Tanks Biathlon" is the highlight of "International Military Competition -2020", which is divided into two stages: cycling race and relay race. The semi-final will start on September 1st, and it will be carried out in the form of relay race. Three teams from the same participating country will use one equipment to relay the driving and shooting tasks.

　　Above: On August 30th, the team from China participated in the cycling race of "Tank Biathlon" at the Russian Arabino shooting range. Xinhua news agency