Take you to a comprehensive understanding of mRNA vaccine

Source | Xiao Yao Shuo Yao
vaccine
It is the most effective public health intervention measure to prevent the spread of infectious diseases. Successful vaccination has eradicated many life-threatening diseases, such as smallpox and polio. The World Health Organization estimates that vaccines can prevent 2-3 million people from dying of tetanus, whooping cough, influenza and measles every year. However, despite the obvious success of conventional vaccines, they can not effectively deal with pathogens such as plasmodium, hepatitis C and HIV that escape immune surveillance. In addition, they need to be modified regularly to cope with rapidly changing pathogens, such as influenza virus.
on the basis ofmRNAOur nucleic acid vaccine was put forward more than 30 years ago, hoping to produce a safe, multifunctional and easy-to-produce vaccine. Compared with traditional vaccines, mRNA vaccines have many advantages: Unlike some viral vaccines, mRNA will not be integrated into the genome, thus avoiding the concern about insertion mutation; MRNA vaccine can be made in a cell-free way, so as to realize rapid, economical and efficient production. In addition, a single mRNA vaccine can encode multiple antigens, enhance the immune response against adaptive pathogens, and can target multiple microorganisms or virus variants with a single formula.
At first, mRNA therapy was not paid attention to because of concerns about its stability, inefficiency and excessive immune stimulation. However, in the past decade, the field of mRNA therapy has changed with each passing day, including the in-depth study of mRNA pharmacology, the development of effective vectors and the control of mRNA immunogenicity, which has made the clinical application of mRNA vaccine enter a brand-new stage.
Design and synthesis of mRNA
In vitro transcription (
IVT
) mRNA mimics the structure of endogenous mRNA and has five parts, from 5 to 3, including: 5?cap, 5 untranslated regions (
UTR
), an open reading frame encoding antigen, 3?UTR and a PolyA tail.
Like natural eukaryotic mRNAs, the 5′ end cap structure contains a 7- methylguanosine nucleoside, which will protect mRNA from being degraded by nucleic acid exonuclease in space, and cooperate with translation initiation factor protein to recruit ribosomes to start translation. The length of PolyA tail indirectly regulates mRNA translation and half-life.
5 ′ and 3 ′ UTR on both sides of the coding region regulate mRNA translation, half-life and subcellular localization, and are derived from highly expressed genes (
Such as alpha-and beta-globin genes.
) is the first choice for synthesizing mRNAs. In addition, UTR can be optimized according to the cell type, for example, by removing miRNA binding sites and AU-rich regions in 3 ′ UTR, the degradation of mRNA can be minimized.
The open reading frame of mRNA vaccine is the most critical component. Although the open reading frame is not as plastic as the non-coding region, the translation can be increased without changing the protein sequence by optimizing the codon. For example, CureVac AG found that human mRNA codons rarely have A or U in the third position, thus replacing A or U in the third position of the open reading frame with G or C.. This optimization strategy is applied to its SARS-CoV-2 vaccine CVnCoV, which is currently in the phase III trial stage.
In order to maximize translation, mRNA sequences usually contain modified nucleosides, such as pseudouridine, N1- methyl pseudouridine or other nucleoside analogues. The use of modified nucleosides, especially modified uridine, prevents the recognition of pattern recognition receptors and ensures that the translation process produces a sufficient level of protein. Both Moderna and Pfizer–Biontech SARS-CoV-2 vaccines contain nucleoside modifications. Another strategy to avoid pattern recognition receptor detection, pioneered by CureVac, uses sequence engineering and codon optimization to consume uridine by increasing GC content of vaccine mRNA.
Besides the improvement of mRNA sequence, great progress has been made in simplifying mRNA production. The synthetic mRNA used in clinic is synthesized by using phage RNA polymerase T7 (
T3 and SP6 polymerases can also be used.
) transcribed from DNA plasmid in vitro. In addition, the co-transcription capping technology of CleanCap is used to simplify the purification steps.
Vector of mRNA vaccine
Due to the large mRNA (
10four–10sixDa
) and is negatively charged, so it cannot pass through the anionic lipid bilayer of the cell membrane. In addition, in vivo, it will be swallowed by cells of innate immune system and degraded by nuclease. Therefore, in vivo application requires the use of mRNA delivery vectors, which transfect immune cells without causing toxicity or unnecessary immunogenicity. At present, many solutions based on innovative materials have been developed.
Lipid nanoparticles (LNP)
Lipid nanoparticles are the most advanced mRNA carriers in clinic. As of June 2021, all SARS-CoV-2 mRNA vaccines being developed or approved for clinical use have adopted LNPs. LNP provides many benefits for mRNA delivery, including simple preparation, modularization, biocompatibility and large mRNA payload capacity. In addition to RNA drugs, LNP usually consists of four components: ionizable lipid, cholesterol, accessory phospholipid and polyethylene glycol lipid, which together encapsulate and protect fragile mRNA.
Ionizable lipid and mRNA form nanoparticles in acidic buffer, which makes lipid positively charged and attracts RNA. In addition, they are positively charged in the acidic environment of endosome, which promotes their fusion with endosome membrane and releases them into cytoplasm.
DODAP and DODMA are the first ionizable lipids for RNA delivery. Through the design to improve the efficiency of DODMA, DLin-MC3-DMA was produced. This is the first ionizing lipid used in FDA-approved pharmaceutical preparations: siRNA drug patisiran (
Onpattro
)。 In addition to the effective and safe delivery of siRNA, DLin-MC3-DMA is also used for the delivery of mRNA.
At present, many groups in academia and industry use combinatorial reaction schemes to synthesize potential delivery materials. This method produces many effective lipids, including C12-200, 503O13, 306Oi10, OF-02, TT3, 5A2-SC8, SM-102 (
Moderna vaccine mRNA-1273 for anti-SARS-CoV-2
) and ALC-0315 (
BNT162b2 for Pfizer vaccine
)。
In addition to seeking to improve the curative effect, people pay more and more attention to improving the specificity of drugs, especially for vaccines and immunotherapy. Lipid 11-A-M58 containing polycyclic adamantane tail and lipid 93-O17S59 containing cyclic imidazole head have been designed to target T cells in vivo. Although the mechanism is not clear, the cyclic groups of these lipids are essential for targeting T cells.
Although ionized lipid can be said to be the most important component of LNP, the other three lipid components (
Cholesterol, auxiliary lipids and polyglycolized lipids
) also promoted the formation and function of nanoparticles. Cholesterol is a naturally occurring lipid, which enhances the stability of nanoparticles by filling the gaps between lipids, and helps to fuse with endosomal membranes during uptake into cells.
Auxiliary lipid can adjust the fluidity of nanoparticles and enhance the efficacy by promoting the lipid phase transition which is helpful to the fusion of membrane and inclusion body. The choice of the best auxiliary lipid depends on the ionizable lipid material and RNA vector. For example, for lipid-like materials, saturated auxiliary lipids (
Such as DSPC
) is most suitable for delivering short RNA (
Such as siRNA
), while unsaturated lipids (
Such as DOPE
) is most suitable for delivering mRNA. DSPC has been used in the SARS-CoV-2 vaccines mRNA-1273 and BNT162b2 approved by FDA.
The PEGylated lipid component of LNPs consists of polyethylene glycol (
PEG
) and anchored lipids (
Such as DMPE or DMG
) combined. Hydrophilic PEG can stabilize LNP, adjust the size of nanoparticles by limiting lipid fusion, and increase the half-life of nanoparticles by reducing nonspecific interaction with macrophages. Both mRNA-1273 and BNT162b2 SARS-CoV-2 vaccines contain PEGylated lipids.
Polymers and polymer nanoparticles
Although the clinical progress is not as good as LNP, polymers have similar advantages to lipids and can effectively deliver mRNA. Cationic polymers concentrate nucleic acids into complexes with different shapes and sizes, which can enter cells through endocytosis.
Polyethylenimine is the most widely studied nucleic acid delivery polymer. Although its efficacy is excellent, its toxicity limits its application because of its high charge density. In addition, several biodegradable polymers with less toxicity have been developed. For example, poly (
β-amino ester
) is excellent in mRNA transmission, especially for lung.
Recently, a new type of lipid-containing polymer, called charge-changing releasable transporter (
CARTs
), it can effectively target T cells, and it is very difficult to manipulate T cells. Therefore, CART is an attractive delivery material with great potential in the fields of mRNA vaccine and gene therapy.
Other delivery systems
In addition to lipids and polymer carriers, peptides can also deliver mRNA to cells, thanks to cations or amphiphilic amine groups in their main and side chains (
Such as arginine
), these cations or amphiphilic amino groups electrostatically combine with mRNA and form nanocomposites. For example, amino acids containing repeated arginine-alanine-leucine-alanine (
RALA
) motif of membrane fusion cell penetrating peptide.
Protamine peptide rich in arginine is positively charged at neutral pH, which can also concentrate mRNA and promote its transmission. Protamine-mRNA complexes activate Toll-like receptors that recognize single-stranded mRNA (
TLR7,TLR8
) pathway, therefore, it can also be used as an adjuvant for vaccine or immunotherapy applications. CureVac AG is evaluating a protamine-containing delivery platform RNActive for clinical trials of melanoma, prostate cancer and non-small cell lung cancer.
Finally, cationic nanoemulsions based on squalene can also deliver mRNA, and these nanoemulsions are composed of oily squalene cores. Some squalene preparations, such as Novartis MF59, are used as adjuvants in FDA-approved influenza vaccines. MF59 makes the cells at the injection site secrete chemokines, thereby recruiting antigen presenting cells, inducing monocytes to differentiate into dendritic cells, and enhancing antigen uptake by antigen presenting cells. The mechanism of squalene-based cationic nanoemulsion escaping from endosome and transporting mRNA to cytoplasm is not clear.
Technical innovation of mRNA vaccine
The most important innovations of mRNA vaccine technology are: mRNA sequence design; Develop a simple, rapid and large-scale method to produce mRNA; To develop efficient and safe mRNA vaccine delivery materials.
A recent study used a systematic selection process based on cell culture to identify new UTRs, which significantly increased the protein expression of IVT mRNA. Compared with human β -globin 3’UTR, these sequences can induce the protein of related transcripts to be about 3 times.
In addition, an interesting new vaccine form was recently reported, which used mRNA encoding RNA-dependent RNA polymerase of α virus plus a second mRNA encoding antigen to make it replicate in cytoplasm. This system can be used at very low doses (
50ng
) can effectively induce protective immune response in mice. These findings are particularly attractive because the use of low doses reduces the cost of vaccine production. No delivery material further reduces the cost, simplifies the manufacture, and improves the possibility of freeze-drying and storage of vaccines at ambient temperature.
On the production side, in addition to the cleancap technology, a method for adsorbing double-stranded RNA pollutants to cellulose (
A cheap and abundant polysaccharide
) to purify mRNA. It has been proved that this highly scalable and cheap method is as effective as high performance liquid chromatography in removing dsRNA pollutants from IVT mRNA samples.
In terms of delivery materials, mRNA-LNPs also achieves selective T cell targeting, similar to CAR-T platform based on polymer. A new platform called ASSET (
Anchored secondary targeting single chain antibody
), in which T cell-specific monoclonal antibodies are linked to LNP to target T cells. This flexible platform also has great potential in mRNA vaccine and other applications.
Another lipid complex preferentially targets dendritic cells after systemic administration. It is a potential key discovery to selectively target DC with mRNA vaccine to induce strong immune response, and the platform has proved its prospect in clinical trials.
Research progress of mRNA vaccine in infectious diseases
MRNA-based therapy represents a relatively novel and efficient drug class. Recently, several published studies have emphasized the potential efficacy of mRNA vaccine in the treatment of different types of malignant tumors and infectious diseases, in which traditional vaccine strategies cannot cause protective immune response.
By the end of 2019, 15 candidate mRNA vaccines against infectious diseases had entered clinical trials. At that time, it was thought that it would take at least 5-6 years for mRNA vaccines to be approved by the regulatory authorities. However, when COVID-19 pandemic swept the world in early 2020, these expectations were subverted. In the next few months, the research, development, manufacture and deployment of mRNA vaccine have entered a stage of rapid leap.
SARS-CoV-2 vaccine
Most candidate vaccines of SARS-CoV-2 have an immune response to spinous proteins on the virus surface. Spike protein binds to the receptor angiotensin converting enzyme 2 on the surface of its host cell. Then, the cell’s transmembrane serine protease 2 cleaves the attached spike protein, which induces conformational changes, exposes the fusion peptide of spike protein and promotes the fusion with the cell or endosomal membrane. Usually, the antigen encoded by vaccine mRNA is either the full-length spike protein or the receptor binding domain of spike protein.
As of June 18th, 2021, 185 CVID-19 vaccine candidates are in the pre-clinical development stage, and another 102 have entered clinical trials. In clinical trials, 19 kinds are mRNA vaccines. On December 11th, 2020, Pfizer’s BNT162b2 vaccine obtained the emergency authorization from FDA, becoming the first mRNA drug approved for human body. A week later, the Moderna vaccine mRNA-1273 was also authorized for use in the United States. In the end, they were the first SARS-CoV-2 vaccines authorized in the United States, Britain, Canada and several other countries.
Pfizer and BioNTech jointly developed five mRNA candidate vaccines, which encode variants of spike protein antigen. Two main candidate drugs, BNT162b1 and BNT162b2, use ionized lipid ALC-0315 of Acuitas Therapeutics and nucleoside modified mRNA, in which all uridine is replaced by N1 methyl pseudouridine to enhance mRNA translation. BNT162b1 encodes the receptor binding domain of trimeric secretory spinous protein, while BNT162b2 encodes the full-length SARS-CoV-2 spinous protein, and two proline substitutions in S2 subunit lock the protein in the pre-fusion conformation.
In the first trial of the two vaccines, both of them can induce neutralizing antibodies with high titers, and produce strong CD4+ and CD8+ reactions, accompanied by mild to moderate adverse reactions. The two candidate vaccines were well tolerated and effective, but only BNT162b2 vaccine entered the phase II/III trial because of its mild systemic and local adverse reactions. In the third phase of the trial, BNT162B2 showed 95% overall prevention and 90 ~ 100% curative effect.
Moderna cooperated with the National Institutes of Health to develop mRNA-1273. The vaccine uses ionized lipid SM-102 to prepare LNP, which encapsulates the mRNA modified by N1 methyl pseudouridine. This sequence encodes SARS-CoV-2 spinous protein, with two proline substitutions, giving it a pre-fusion conformation.
In phase 1 clinical trials, mRNA-1273 was very effective and well tolerated. In the phase III trial involving 30,420 volunteers, the prevention rate of two 100μg vaccines was 94.1%, and local pain at the injection site was the most common side effect. After the second dose, half of the volunteers reported moderate to severe systemic side effects (
Such as fatigue, muscle pain, joint pain
), these side effects disappeared within 48 hours.
Although the vaccines produced by Pfizer and Moderna have been proved to have good efficacy and safety, their demand for cold chain storage has brought great difficulties to guarantee. MRNA-1273 can be stored at 4-8℃ for one month, while BNT162b2 needs to be stored at -60℃.
CVnCoV, the candidate vaccine of CureVac, can be stored stably for 3 months at 5℃. CVnCoV uses Acuitas Therapeutics (
It may be ALC-0315
) and unmodified mRNA encoding full-length spike protein with two proline substitutes. In the first phase of clinical trial, the neutralizing antibody produced by volunteers was similar to that of patients with CVID-19 in recovery period and was well tolerated. Unfortunately, however, in phase III clinical trials involving 40,000 people, CVnCoV only showed 47% efficacy. Mid-term analysis shows that the low curative effect of CVnCoV is attributed to the new SARS-CoV-2 mutation.
At present, CureVac is cooperating with GSK to develop the second generation candidate drug-C2CoV, which has been optimized to enhance its translation and immunogenicity compared with CVnCoV. CV2CoV uses 5’UTR from human hydroxysteroid 17-β- dehydrogenase 4 gene and 3’UTR from human proteasome 20S subunit β3 gene. In preclinical studies, the protein expression of CV2CoV was 1.8 times higher than that of CVnCoV in vitro, and high-titer cross-neutralizing antibodies against B.1.1.7, B.1.1.298 and B.1.351 variants were induced in rats.
Another heat-resistant candidate vaccine, ARCoV, was developed by PLA Academy of Military Sciences in cooperation with Walvax Biotechnology Company, and can be stable at 25℃ for one week. ARCoV encodes the receptor binding domain of spike protein. In preclinical studies, high SARS-CoV-2 specific IgG antibody and strong virus neutralization titer can be induced in cynomolgus monkeys. Although the reasons behind the thermal stability of CVnCoV and ARCoV are not clear, the secondary structure of mRNA, smaller mRNA size, GC content and lipid may be important factors.
Other mRNA candidate vaccines are also under development. LNP-nCoVsaRNA was jointly developed by Imperial College London in London and Acuitas Therapeutics, encoding the full-length spike protein. At present, the phase I clinical trial evaluation is being carried out using the dose escalation scheme of 0.1–1g (
ISRCTN17072692
), which uses the lowest RNA dose among all candidate mRNA vaccines.
Another self-amplified mRNA vaccine candidate ARCT-021 (
Also known as LUNAR-COV19
) by Arcturus company using its proprietary LUNAR lipid carrier and self-transcription and replication RNA (
STARR
) platform development. It encodes a full-length fusion pre-spike protein.
Influenza virus vaccine
About 290,000 to 650,000 people worldwide die from influenza virus every year. At present, the vaccine targets the viral hemagglutinin protein that promotes the entry of the virus. The traditional influenza vaccine is an inactivated influenza virus growing in eggs, which takes a long time to produce and is difficult to purify. In addition, viruses mutate in eggs for optimal growth, sometimes rendering them ineffective in humans.
Therefore, alternative antigen targets and production methods are really needed. Synthetic mRNAs transcribed in vitro can meet this demand and ensure the rapid production of vaccines when new influenza strains appear. For example, in 2013, based on LNP (
DLinDMA
) was successfully developed within 8 days after the outbreak of H7N9 in China, but unfortunately, clinical trials could not be conducted because there was no GMP facility for mRNA manufacturing at that time.
Some people are also committed to developing a universal influenza vaccine that does not need to be revised every year. This vaccine can produce immunity to several influenza virus strains and subtypes. The influenza mRNA vaccine, which was first displayed in 2012, induced homologous and heterologous immunity against H1N1 and H5N1 strains in mice by three intradermal injections.
It is worth noting that the conserved region of hemagglutinin, which is not easy to mutate, has recently become a new universal vaccine target. Another study used LNPs to deliver 50ng dose of mRNA, encoding three conserved influenza proteins: neuraminidase, nucleoprotein and matrix -2 ion channel protein, and hemagglutinin stem region. Incredibly, this tiny dose of mRNA produced a wide range of protective antibodies.
Zika virus vaccine
Zika virus infection was first discovered in 1947. Patients infected with Zika virus usually have no symptoms or mild symptoms such as fever, rash and muscle pain. However, Zika virus became a global health crisis during the American epidemic in 2015-2016, which caused severe fetal neural malformation and fetal death during pregnancy. Membrane and envelope protein (
prM-E
) is a common antigen selection for mRNA vaccine against Zika virus, because neutralizing antibody against prM-E can prevent virus fusion.
Moderna cooperated with Washington University School of Medicine to develop an improved prM-E mRNA, which contains the mutant fusion circular epitope in E protein. Two 10μg doses of mRNA can protect mice from Zika virus attack and reduce the production of dengue enhanced antibodies. These encouraging preclinical results promoted the phase I trial, and the interim results showed that the vaccine mRNA-1893 induced 94-100% seroconversion within 10 days, which was well tolerated.
In addition, another study used passive immunization method to deliver mRNA encoding ZIKV neutralizing antibody using squalene-based nanocarriers. This is an attractive method for immunocompromised patients whose immune system is damaged and unable to synthesize autoantibodies.
HIV vaccine
Globally, HIV currently affects 38 million people and is expected to affect as many as 42 million people by 2030. Although the research has been carried out for 30 years, no effective vaccine has been developed, mainly because of the significant antigenic diversity of HIV envelope proteins and the hidden "glycan barrier" of key envelope protein epitopes. Several preclinical studies have used a variety of carriers, including cationic nanoemulsion, DOTAP/DOPE liposome, Polymers and ionizable LNP, and they have seen some effects in different degrees. These studies show that in addition to effective vectors, new antigens are crucial for effectively targeting HIV.
Respiratory syncytial virus vaccine
Respiratory syncytial virus is the main cause of acute lower respiratory tract infection in the world. Every year, it is estimated that 60,000 children under the age of 5 die and more than 14,000 people over the age of 65 die.
At present, RSV candidate vaccines mainly target highly conserved F protein. Although some candidates failed to pass the clinical trial because of insufficient neutralizing antibody titer, the new discovery of F protein conformation shows that vaccination against pre-fusion conformation can produce excellent neutralizing antibody reaction. This discovery is expected to improve the future vaccine design.
Moderna is evaluating three single-dose candidate vaccines encoding pre-fusion F protein: mRNA-1172 and mRNA-1777 for adults, and mRNA-1345 for children. In the phase I clinical trial, mRNA-1777 induced a strong humoral response of RSV neutralizing antibody, and CD4+T cells reacted to RSV F protein without serious adverse events. The sequence of mRNA-1345 has been further designed and codon optimized to enhance the translation and immunogenicity relative to mRNA-1777. One month after inoculation, the titer of neutralizing antibody produced by mRNA-1345 was about eight times that of mRNA-1777. Finally, the goal of Moderna is to combine mRNA-1345 with pediatric human metapneumovirus/parainfluenza virus type 3 (
hMPV/PIV3
) Candidate vaccine mRNA-1653 was integrated, and children were vaccinated against three different pathogens with a single formula.
Ebola virus vaccine
Ebola virus (
EBOV
) was first identified as the pathogen that caused the Ebola outbreak in 1976. This viral hemorrhagic fever claimed more than 11,000 lives in the Ebola epidemic in West Africa in 2014-2016. In 2019, FDA approved a recombinant vesicular stomatitis virus (
VSV
) Ebola vaccine (
rVSV-EBOV
)。 Although the effectiveness of rVSV-EBOV in preventing the spread of Ebola is 97.5% compared with that without vaccination, clinical trials have noticed some safety problems (
Such as acute arthritis and rash.
)。
Anti-EBOV mRNA vaccines may be safer than this virus-based vaccine because they will not replicate in vivo. An mRNA vaccine encoding EBOV glycoprotein has been proved to be effective in mice. The vaccine can induce the strong expression of glycoprotein-specific IgG antibody, IFN-γ and IL-2 through CD8+ and CD4+T cells, which can protect animals from deadly virus.
Rabies virus vaccine
Rabies is a zoonotic disease, characterized by neurological symptoms, with a mortality rate of nearly 100%. Although vaccines have been approved, more than 50,000 people still die of rabies every year, which highlights the need for more effective and cheaper vaccines.
In order to meet this demand, CureVac used its RNActive platform to screen the unmodified mRNA vaccine CV7201 encoding rabies virus glycoprotein. In a preclinical study, CV7201 can induce high neutralizing antibody titers in mice and pigs, and induce antigen-specific CD4+ and CD8+T cell responses. However, in the phase I clinical trial, it was found that although the route of administration did not affect the immune response, only the intradermal syringe produced a short-term humoral immune response. This weak drug delivery effect and high incidence of adverse events indicate that the drug delivery platform needs to be further optimized.
Subsequently, CureVac used the proprietary LNP produced by Acuitas Therapeutics as the carrier of its new vaccine CV7202. In a preclinical study, CV7202 induced strong antibody titers and CD8+ and CD4+T cell responses. The results of phase I clinical trials show that two 1g doses can produce high titer neutralizing antibodies and strong adaptive immune response, which is well tolerated.
Malaria vaccine
Although the vast majority of mRNA vaccines under development are aimed at preventing virus infection, there are also efforts to prevent other infectious diseases. Malaria is caused by unicellular eukaryotic parasites, and its incidence and lethality rank first. Every year, malaria afflicts more than 200 million people around the world and kills more than 400,000 patients. Due to the lack of surface antigen and the complex life cycle of plasmodium, the production of antimalarial vaccine has been difficult. Fortunately, the study of human natural immune response to plasmodium infection has identified potential non-surface antigen targets.
For example, the cytokine macrophage migration inhibitory factor secreted by plasmodium (
PMIF
) has been proved to prevent T cells from producing long-term memory. According to this discovery, a vaccine was prepared from squalene-based cationic nanoemulsion loaded with self-amplified mRNA encoding PMIF. Two doses of 15μg can improve the development of helper T cells and induce anti-plasmodium IgG antibody and memory T cell response.
Another study on the mechanism of malaria infection found that Plasmodium falciparum is rich in glutamate protein (
PfGARP
) is a potential target of mRNA vaccine. A nucleoside modified mRNA vaccine encoding PfGARP antigen is being developed, which uses LNP proprietary to Acuitas Therapeutics. Preclinical studies show that the vaccine can reduce the reaction of animals infected with plasmodium.
Key problems of mRNA vaccine
At present, there are still many doubts about the safety of mRNA vaccine. In addition, the mRNA vaccine has been approved only in the prevention of SARS-CoV-2, and its efficacy in other aspects needs further study. Many problems need to be solved. Let’s discuss some key problems that mRNA vaccine may face in the future.
Antigen reaction duration
After vaccination, antigen is absorbed by antigen presenting cells and transported to lymph nodes, where B cells, antigen presenting cells and follicular helper T cells (
Tfh
) promote the formation of germinal center. In the germinal center, B cells then proliferate, differentiate and mutate their antibody genes to produce high affinity neutralizing antibodies against aggressive antigens. Germinal center reaction and Tfh cell induction are very important for lasting antibody response, which will protect patients for months or years.
In order to enhance the first step of this immune response process, some delivery systems target antigen-presenting cells and translate mRNA. Several promising strategies for actively targeting antigen presenting cells include binding monoclonal antibodies to LNP surface and modifying LNP surface with dendritic cell-specific ligands. Alternatively, regulating the physical properties of LNP, such as surface charge, has been used to improve the efficacy of cancer vaccines.
In addition, changing vaccine pharmacokinetics by prolonging the translation of antigen mRNA has become an exciting tool to enhance antibody response. Continuous availability of antigen during germinal center reaction has been proved to increase antibody production by about 10 times. A study in mice showed that compared with unmodified mRNA, nucleoside-modified mRNA had a longer circulating time and induced a stronger reaction between Tfh cells and B cells in germinal center.
In clinical trials, two doses of mRNA-1273 can also trigger a lasting antibody response within 6 months. Although the antibody titer decreased slightly during the study period, all age groups maintained high neutralization ability. These results are promising, however, the duration of antibody reaction is a complex phenomenon, and different antigens will be different, which requires longer data to fully understand.
Mutations against viruses
Mutations in viral genomes are common in the process of replication. Although most mutations have little or no effect on the function of the virus, some mutations can enhance immune evasion and hinder the development of vaccines. For example, for more than 30 years, the rapid mutation of HIV has hindered the development of effective vaccines, while the mutation of influenza virus needs to modify the vaccine formula every year to target the dominant strains.
The emerging SARS-CoV-2 mutation has also attracted attention to the effectiveness of cross-mutation of mRNA vaccine. Variants B.1.351 and P.1 are located at position 484 of spinous protein receptor binding domain (
E484K
) glutamic acid exists (
E
) to lysine (
K
) mutation, which promotes immune escape. Fortunately, FDA-approved mRNA vaccines BNT162b2 and mRNA-1273 produced cross-neutralizing antibodies against B.1.351 and P.1 and other variants, which indicated that they could provide protection against them. However, compared with the original virus, the cross neutralization effect has been significantly reduced. In addition, in the IIb/III trial of CureVac’s candidate CVnCoV, 57% of the 124 COVID-19 cases sequenced were mutants, including B.1.351 and P.1 variants.
If these mutant strains gradually become major variants over time, variant-specific mRNA enhancers may be needed. At present, Moderna is evaluating the original mRNA-1273 vaccine and the latest version as the third booster: mRNA-1273.351, which encodes spinous protein from variant B.1.351, and mRNA-1273.211, a 1:1 mixed vaccine of mRNA-1273 and mRNA-1273.351.
In the long run, it will be more beneficial to provide a pan-coronavirus vaccine to protect SARS-CoV-2 and future coronavirus outbreaks. Like HIV and influenza, new structural insights are expected to promote the discovery of conserved sites of coronavirus and accelerate antigen discovery and vaccine design.
security
Generally speaking, mRNA vaccine has good safety, and only mild or moderate adverse events occurred in clinical trials. However, there are also individual events that require further optimization of mRNA antigens and vehicle components. For example, CureVac’s protamine-based rabies candidate drug CV7201 caused serious adverse events in 78% of the participants, prompting CureVac to adopt LNPs as the first choice for its subsequent rabies candidate drug CV7202.
Like most drugs, the adverse reactions of mRNA vaccine often increase with the increase of dose. For example, in the first phase test of CV7202, 5μg dose has unacceptable toxicity, while 1μg is the highest dose with good tolerance. In addition, in the first phase trial of Moderna H10N8 influenza vaccine, serious adverse events appeared in patients with a dose of 400μ g, so the trial continued with a dose of 100μg g..
When using the COVID-19 vaccines of Pfizer-BioNTech and Moderna, allergic reactions were observed in about 4.7 parts per million and 2.5 parts per million, respectively, which was about 2-4 times that of the traditional vaccination. One view is that allergic reactions are attributed to pre-existing antibodies against PEGylated lipids in LNP. These antibodies are considered to be effective against many consumer products (
Such as toothpaste, shampoo and laxatives.
) has a reaction with PEG. It is reported that 40% people have anti-PEG antibodies, which may increase the risk of allergic reactions in some individuals and hinder the effectiveness of vaccines. At present, CDC recommends that individuals who have a history of allergy to any component of Pfizer-BioNTech or Moderna vaccine should not use mRNA vaccine. Obviously, we need to better understand how the mRNA vaccine formula causes allergic reactions, so that we can redesign the formula to improve safety.
Vaccination of specific population
Most vaccines, whether traditional vaccines or mRNA vaccines, are developed for children or healthy adults. However, due to different immune systems, some people may benefit from alternative vaccination strategies or have different responses to vaccination.
Maternal/neonatal vaccination
The dynamic characteristics of the immune system during pregnancy increase a person’s susceptibility to infectious diseases, and infection will have a disastrous impact on maternal health and fetal development.
In order to meet these challenges, maternal vaccination has become a tool to improve maternal health and reduce neonatal morbidity. Maternal IgG antibody can easily cross the placenta and enter the fetal circulation by binding to the neonatal Fc receptor, thus protecting the fetus from pathogens. In several studies, maternal inoculation with mRNA-loaded LNPs can prevent the spread of fetal Zika virus in pregnant mice and protect newborn mice from herpes virus and streptococcus infection.
Although vertically transferred maternal antibodies can prevent neonatal infection, they will also hinder the effect of vaccination for infants in later life, and the mechanism is still unclear. Prolonging the availability of antigen may promote a stronger germinal center response, thus producing a strong infant immune response in the presence of maternal antibodies.
The anti-SARS-CoV-2 mRNA vaccine has also been proved to be immunogenic to pregnant and lactating people, and neutralizing antibodies have been detected in cord blood and human milk. Preliminary data show that mRNA-1273 and BNT162b2 cause similar adverse events in pregnant and non-pregnant people, and the vaccine will not increase the incidence of neonatal death or congenital abnormalities. However, further longitudinal studies are needed to evaluate the impact of mRNA vaccine on maternal and neonatal health.
the aged
This group is in urgent need of effective vaccines, because many infectious diseases affect the elderly. For example, 70 to 90% of influenza-related mortality occurs in patients over 65 years old, while the mortality rate of COVID-19 is 62 times that of young patients over 65 years old.
It is more difficult for the elderly to be vaccinated, because aging has an adverse effect on both innate and adaptive responses of the immune system. The decrease of Toll-like receptor expression will prevent monocytes and macrophages from secreting cytokines and chemokines, and limit the crosstalk with adaptive immune system. The adaptive immune response during infection is usually insufficient due to impaired cytokine signals and physiological and cellular changes. These changes include thymus degeneration, the decrease of naive B cells and T cells, the decrease of T cell receptor diversity, the higher susceptibility to T cell apoptosis, and the decrease of the expression of key receptors such as CD28 on cytotoxic CD8+T cells.
Fortunately, more and more evidence shows that mRNA vaccine may have strong efficacy in all age groups. For example, in the phase III trial, the efficacy of BNT162b2, a candidate vaccine of Pfizer-BioNTech, exceeded 93% in all treatment groups. The candidate vaccine of Moderna, mRNA-1273, is also very effective, showing 86.4% effectiveness in volunteers over 65 years old, compared with 95.6% in volunteers aged 18-65 years old.
The design of delivery tools is very important to improve the efficacy of vaccines for the elderly. MRNA vector can be used as an inflammatory adjuvant to amplify the vaccine response by enhancing the recruitment of antigen-presenting cells to the injection site. In a preclinical study, CureVac’s RNAVAC activated TLR7 and produced a lasting immune response against deadly influenza in mice. Novartis emulsion MF59 has been used as mRNA delivery carrier and adjuvant. MF59 enhances the immunogenicity of influenza vaccine and has been approved for the elderly.
Acquisition of vaccine
Obtaining vaccines is the biggest challenge to achieve widespread prevention of infectious diseases, especially in low-income countries. The cold storage requirements of the approved SARS-CoV-2 mRNA vaccine further limit the acquisition of the vaccine. Portable and reusable Arktek freezer can realize the rapid deployment of millions of doses of vaccine during an epidemic.
However, the COVID-19 virus needs to vaccinate billions of people, which requires a heat-resistant vaccine. At present, there are two candidate vaccines of SARS-CoV-2 with heat tolerance at room temperature. If these candidate vaccines can show good results in clinical trials, they may simplify the global acquisition of mRNA vaccines in the near future.
Acceptance of vaccine
Vaccines are only effective after vaccination, and there are abundant data supporting the safety and effectiveness of vaccines. Vaccines have eradicated several infectious diseases in some parts of the world and saved countless lives. However, due to misinformation and anti-vaccine campaigns, public distrust has intensified, threatening the maintenance of group immunity and putting our most vulnerable people at risk.
The decline in vaccination coverage may lead to the re-emergence of life-threatening diseases. For example, measles eradicated from the United States in 2000 infected more than 1,200 people in 2019 because of poor vaccine compliance in many communities. For COVID-19, in the United States, the current acceptance rate of 56-75% may not be enough to reach at least 80-90% coverage, and this threshold is considered to be necessary for SARS-CoV-2 population immunization.
Although most of the burden of improving vaccine coverage falls on the government and public health officials, the scientific community can also help by improving the effectiveness and safety of mRNA vaccines. Improving the curative effect will reduce the acceptance of group immunization, and improving safety will prevent the media from reporting adverse events, thus reducing the fear of vaccination.
summarize
In the past decades, the progress of mRNA design and nucleic acid delivery technology, coupled with the discovery of new antigen targets, has made mRNA vaccine an extraordinary tool to fight emerging epidemics and existing infectious diseases. Two mRNA vaccines against SARS-CoV-2 were developed at revolutionary speed and provided excellent protection rate, which is expected to end the COVID-19 pandemic.
In addition, these vaccines promote LNP and RNA therapy from niche market products to preventive treatment successfully implemented in a large number of people. As a result, a large number of safety and effectiveness data, as well as successful regulatory approval. We can be optimistic that mRNA therapy will probably change the vaccination methods, cancer immunotherapy and protein replacement therapy in modern medicine.
References:
1. mRNA vaccines for infectious diseases: principles, delivery and clinical translation. Nat RevDrug Discov. 2021 Aug 25 : 1–22.
2. Recent advances in mRNA vaccine technology. Curr Opin Immunol. 2020 Aug; 65:14-20.

Spring Festival travel rush train tickets will be on sale tomorrow: it is estimated that 280 million passengers will be sent, and the ticketing time will be extended.

  On January 2, The Paper reporter learned from China National Railway Group Co., Ltd. (hereinafter referred to as "China State Railway Group Co.,Ltd.") that in 2022, the railway Spring Festival travel rush will start on January 17 and end on February 25, with a total of 40 days, and the national railway is expected to send 280 million passengers, with a year-on-year increase of 28.5%. According to the arrangement that the train tickets will be sold 15 days in advance, on January 3, 2022, the railway department will start to sell the 2022 Spring Festival travel rush train tickets.

  According to the person in charge of the Ministry of Transport of China State Railway Group Co.,Ltd., in 2022, the railway Spring Festival travel rush will face multiple challenges, such as accurate epidemic prevention and control, Beijing Winter Olympics transportation guarantee, etc. The situation is complex and changeable, and the transportation service organization is more difficult. The railway department will conscientiously implement the work arrangements of the CPC Central Committee and the State Council during the New Year’s Day and Spring Festival, adhere to the people-centered development idea, make overall plans for development and safety, make overall plans for epidemic prevention and control and Spring Festival travel rush organization, and make overall plans for transportation security in Spring Festival travel rush and Winter Olympics, earnestly do a good job in Spring Festival travel rush, constantly improve the sense of security, acquisition and happiness of the vast number of passengers, provide high-quality transportation service guarantee for the Winter Olympics, and strive to achieve the goal of "Safe Spring Festival travel rush, orderly Spring Festival travel rush, warm Spring Festival travel rush, and better passenger experience".

  First, adhere to the arrangement of needs, emergency preparedness, accurate matching, ladder delivery, and accurately arrange passenger transportation capacity. Make full use of the transportation advantages of the developed and perfect railway network and modern high-speed rail network, especially the newly added lines and EMU resources in the first year of the "14th Five-Year Plan", and specially draw the train operation map of Spring Festival travel rush. The passenger capacity can meet the transportation demand under strict epidemic prevention and control. Before Spring Festival travel rush, new lines such as China-Laos Railway, Ganshen, Anjiu, Zhangjihuai, Mujia, Hangtai and Rilan high-speed railway were opened for operation, which further enhanced the transportation capacity of Yunnan, Jiangxi, Anhui, Hunan, Heilongjiang, Zhejiang and Shandong. The south section of the Beijing-Hong Kong high-speed railway from Nanchang to Shenzhen runs through the whole line, which greatly shortens the time and space distance between the central and eastern cities such as Nanchang, Hefei, Nanjing and Shanghai and the Guangzhou-Shenzhen area, and will effectively facilitate the people along the line to travel in Spring Festival travel rush. The railway department will accurately analyze the passenger demand according to the changes in the epidemic prevention and control situation, the pre-sale of tickets and the data of alternate ticket purchase, determine the timing of train launch and passenger start-up, and put the capacity in steps. At the same time, maintain the necessary scale of ordinary speed trains, make overall plans for trains in the direction where passenger flow is not concentrated, and insist on running public welfare slow trains to ensure the basic travel of passengers.

  The second is to adapt to the rules of passenger travel under the conditions of epidemic prevention and control, and improve the service measures of ticket sales and return and change. Coordinate the precise requirements of epidemic prevention and control and the convenient travel needs of passengers, and continuously improve service measures to facilitate passengers to purchase tickets and return and change their visas. Extend the ticketing service time of 12306 website (including mobile phone client) from 5:00 to 23:30 every day to 5:00 to 1:00 the next morning (except every Tuesday); Provide 24-hour Internet refund service, the deadline for refund is extended from 25 minutes before the bus stop starts to before the bus stop starts, and 12306 client login-free refund channel is added; Add online processing channels to the business of changing the ticket after driving, which can only be handled at the ticket issuing station, and add the function of changing the electronic ticket at the self-service ticketing terminal; Adjust the latest deadline for standby ticket purchase from 6 hours before driving to 2 hours; Provide passengers with temporary electronic identification.

  Third, take the initiative to meet the demand and do a good job in ensuring the transportation service of the Winter Olympics with high quality. The Beijing-Zhangjia High-speed Railway has arranged 40 pairs of winter Olympic trains and special trains for the opening and closing ceremonies. Research and develop the online 12306 English website, English client and English self-service ticket vending machine, support foreign credit cards such as VISA and JCB to purchase tickets, and add the ticketing service function in the Winter Olympics area to strengthen ticketing and service guarantee for the Winter Olympics.

  Fourth, scientifically and accurately implement epidemic prevention and control measures, and resolutely prevent the epidemic from spreading through railway Spring Festival travel rush. In accordance with the joint prevention and control mechanism in the State Council and the policy requirements of precise prevention and control in various places, the epidemic prevention and control measures in the whole process of passenger travel are strictly implemented. In the ticketing process, strictly control the passenger load rate of trains and implement decentralized ticketing in qualified trains; In the ride, guide passengers to wait at the station in an orderly manner, do a good job of temperature measurement and code inspection in strict accordance with the requirements of the local government, and prevent passengers who do not meet the ride requirements from entering the station; In the train operation, strengthen the broadcasting and publicity of station cars, reserve isolated seats according to regulations, and do a good job of disposal in a scientific and orderly manner once passengers involved in the epidemic are found. Strictly implement the overall plan for epidemic prevention and control of Beijing Winter Olympics and Winter Paralympics, and implement closed-loop and non-closed-loop management for 55 days from January 21 to March 16 for the four winter Olympics service stations of Beijing-Zhangjia high-speed railway Qinghe, Yanqing, Prince City and Chongli, so that closed-loop personnel and ordinary passengers do not intersect; For special carriages and special trains for transportation services in the Winter Olympics, we will strictly do a good job in ventilation and disinfection, and earnestly do a good job in prevention and control of transportation support in the Winter Olympics.

  The fifth is to coordinate the supply of freight capacity and ensure the transportation of key materials for the national economy and people’s livelihood, such as coal. During Spring Festival travel rush, we will continue to strengthen the transportation of key materials related to the national economy and people’s livelihood, such as coal for power generation and heating, northeast grain, spring ploughing fertilizer and holiday materials, so as to ensure the warm winter of the people and the smooth operation of the national economy. Increase the supply of goods, loading and unloading power and machinery organization during the Spring Festival holiday, improve the working efficiency, and ensure that the national railways load more than 170,000 vehicles per day, and ensure that the 363 direct power supply plants in China can store coal for more than 15 days.

  The person in charge said that the railway department will timely allocate capacity according to the epidemic prevention and control requirements and passenger flow changes, dynamically adjust train operation, continuously improve service measures, and strive to enhance the travel experience of the majority of passengers. Passengers are requested to pay close attention to the information published on the "Railway 12306" website and "China Railway" WeChat WeChat official account in time and make reasonable arrangements for their trips.

Shocked! "Faking" 11.9 billion Kangdexin angered the CSRC: it is planned to be punished!

  CCTV News:In the past, financial fraud of listed companies mostly inflated profits or used mergers and acquisitions, but the fraud of a company like Kangdexin is rare.

  In May 2019, Zhong Yu, the company’s major shareholder and actual controller, was criminally compulsory by the police.

  On July 5, the CSRC held a regular press conference to impose administrative penalties and inform the market that there were false records and major omissions in the annual report of the listed company Kangde.

  What happened after all?

  The CSRC intends to punish the relevant responsible person for life-long market ban on Kangdexindingge.

  On July 5, the CSRC held a regular press conference to impose administrative penalties and inform the market that there were false records and major omissions in the annual report of the listed company Kangde.

  Chang Depeng, spokesman of the CSRC: Kang Dexin’s illegal information disclosure has a long duration, huge amount involved, extremely bad means and particularly serious illegal circumstances. The CSRC has served the parties involved with the advance notice of administrative punishment and market ban, and intends to punish Kang Dexin and the main responsible personnel within the scope stipulated in the Securities Law, and take measures of lifelong market ban.

  According to reports, from 2015 to 2018, Kangdexin inflated operating costs, R&D and sales expenses through fictitious procurement, production and other R&D expenses, and inflated profits by 11.9 billion yuan through these methods.

  Kang Dexin is also suspected of failing to disclose related transactions of non-operating funds occupied by controlling shareholders in relevant annual reports, providing guarantees for controlling shareholders, and failing to truthfully disclose the use of raised funds.

  The above behavior led to false records and major omissions in the relevant annual reports disclosed by Kangdexin.

  The whereabouts of Kangdexin’s 12.2 billion cash is a mystery.

  In July 2010, Kangdexin (now *ST Kangde) was listed on the A-share market as "the world’s largest pre-coated film manufacturer".

  In May 2019, Zhong Yu, the company’s major shareholder and actual controller, was criminally compulsory by the police. According to the analysis, Zhong Yu’s detention may be related to the 12.2 billion deposits that *ST Kangde recently broke out.

  At the beginning of this year, Kang Dexin, who had a huge amount of cash on his account, was unable to pay due bonds, and the corporate debt crisis was officially kicked off.

  On April 30, 2019, *ST Kangde disclosed its 2018 annual report. According to the annual report, the company’s book monetary fund is 15.316 billion yuan, of which 12.21 billion yuan is deposited in Bank of Beijing Xidan Sub-branch.

  However, the company’s three independent directors and accounting firms strongly questioned the authenticity of the deposit of 12.2 billion yuan. With the serial inquiries of Shenzhen Stock Exchange, the agreement between *ST Kangde and Bank of Beijing was exposed.

  It turns out that Kangde Investment Group, the controlling shareholder, signed the Cash Management Cooperation Agreement with Bank of Beijing, and its account balance is managed according to zero balance, that is, all the funds in each sub-account are collected into Kangde Investment Group’s account.

  This means that the listed company *ST Kangde has 12.2 billion yuan in the account, but according to the setting of the linkage account, the money will be transferred to the group parent account of the controlling shareholder.

  This led to the company’s online banking showing that 12.2 billion yuan was deposited in Bank of Beijing Xidan Sub-branch. However, Xidan Sub-branch replied that "the account balance is zero". On May 10th, Kang Dexin replied to the letter of concern of Shenzhen Stock Exchange, saying that it is impossible to determine whether the company’s funds have been occupied by Kang Dexin Investment Group for non-operation.

Samsung Galaxy vulnerability was exploited by hackers, and many stars were blackmailed to respond to the courier’s beating of consumers | Evening News

  Finishing | Tan Song

  Source | Yiming.com

  Insider disclosure

  [Xuehu Capital once again increased its holdings of Xiabu Xiabu, and its shareholding ratio rose to 7.52%]

  It was learned from the industry that Xuehu Capital announced that it would increase its holdings again, and its latest shareholding ratio reached 7.52%, making it the third largest shareholder of Xiabu. In March 2016, Xuehu Capital purchased the shares for the first time. The latest total shareholding of Xuehu Capital after the increase in holdings is 81,321,000 shares, and the shareholding ratio has risen to 7.52%. This is also the second time that Xuehu Capital has sold the stock after the increase in holdings in June 2019.

  [Longfei, the legal representative of Panda Mutual Entertainment, is restricted from spending]

  According to the data of Sky Eye Survey, on January 2nd, Shanghai Panda Mutual Entertainment Culture Co., Ltd. added a new item to restrict high consumption, and listed the company and its legal representative Longfei as restricted high consumption personnel because they failed to fulfill the payment obligations specified in the effective legal documents within the period specified in the execution notice. Previously, there were 10 restrictions on high consumption in Panda Live. In 2020, Panda Live added two pieces of information about the executed person, with a total execution target of about 113 million yuan.

  [Jiang Xiaobai plans to raise $500-100 million in IPO this year]

  Jiang Xiaobai plans to raise $500-100 million in IPO this year, but has not decided on the listing location.

  [Tesla Berlin Super Factory may postpone construction because of bats]

  According to foreign media reports, after the Shanghai Super Factory was partially completed and put into production, and the Model 3 produced began to be delivered, the next focus of Tesla, an electric vehicle manufacturer, was the super factory in Berlin, but this factory is currently in construction. Encountered trouble and may delay construction. The construction of Tesla Berlin Super Factory may be delayed because there is an endangered bat living in the forest where the factory is located. Before the super factory starts construction, Tesla needs permission to transfer these endangered bats.

  [Didi establishes a new company, and its business scope includes second-hand car brokerage and sales]

  According to Tianyancha data, on January 6th, Didi Zhitong (Guangzhou) Technology Co., Ltd. was established with a registered capital of 10 million yuan. The company’s business scope includes network security information consultation, used car brokerage, used car sales, artificial intelligence algorithm software technology development and technical services, etc. The legal representative is Tang Xia. Didi Commercial Service Co., Ltd., one of the shareholders of the company, is a wholly-owned subsidiary of Beijing Xiaoju Technology Co., Ltd., the main operator of Didi.

  [The business entity of Jingdong Digital Science Department changed, Yuheng Group withdrew, and the new investor Guoxin Central Enterprise was added]

  According to the data of Sky Eye Survey, on December 31st, JD.COM Digital Technology Holdings Co., Ltd., the main operating entity of Jingdong Mathematics Department, underwent industrial and commercial changes, and the investor Harbin Yuheng Group Co., Ltd. withdrew, and the newly added investor was Guoxin Central Enterprise Operation (Guangzhou) Investment Fund (Limited Partnership), one of the investment entities of Guoxin Central Enterprise.

  [It is reported that bilibili plans to invest 1.8 billion yuan in live broadcast business this year, and the official has not responded yet]

  According to media reports today, bilibili plans to invest 1.8 billion yuan in live broadcast business this year. Bilibili has not responded to this. Earlier, after the live broadcast of the birthday party, anchor Ti mo Feng announced that he had signed an exclusive contract for live broadcast.

  [Zume, a robot startup supported by Softbank, announced 50% layoffs]

  Zume, a robot startup supported by Softbank Group, will lay off 360 people, accounting for about 50% of its total employees. In addition, the company will also close the robot pizza delivery business and focus on food packaging. Softbank invested $375 million in Zume in 2018, when the startup was valued at $1 billion. According to the data of Pitchbook, an American entrepreneurial analysis company, Zume’s previous valuation was only $218 million, with a total fundraising amount of $71 million.

  [Tencent President Liu Chiping sold 500,000 shares of the company and cashed in HK$ 192.1 million]

  According to HKEx documents, Liu Chiping, president of Tencent, sold 500,000 shares of the company at an average price of HK$ 3,841,789 per share on January 3, and cashed in HK$ 192.1 million.

  [ofo added 6 pieces of information of executed persons in 9 days of the New Year, with a total execution target of 8.84 million]

  According to the data of Tianyancha, as of January 9, 2020, Dongxia Datong (Beijing) Management Consulting Co., Ltd., the main operator of ofo, has added 6 pieces of information about the executed person in 2020, with a cumulative execution target of about 8.84 million.

  Big company

  [iQiyi has established a new company, and its registered place is Dongyang City, where Hengdian Film and Television (603103, Guba) City is located]

  According to Tianyancha data, on December 26, 2019, iQiyi was registered as a new company-Dongyang iQiyi Film and Television Culture Co., Ltd.. Dongyang Aiqiyi Film and Television Culture Co., Ltd. has a registered capital of 10 million yuan, and its legal representative is Wang Xiaohui. Its business scope includes the distribution, production and planning of radio and television programs. Network drama production; Photographic camera service; Sales of film and television props, lighting equipment, audio equipment, etc. Beijing Aiqiyi Technology Co., Ltd. is the major shareholder of the company, holding 90% of the shares. The registered address of the company is the location of Hengdian Film and Television City, Dongyang City, Zhejiang Province.

  [Nokia: 63 commercial 5G contracts have been reached with customers all over the world]

  Nokia said in an e-mail statement that the company has 63 commercial 5G contracts worldwide and is the only network provider whose 5G technology has been signed by all four national operators in the United States.

  [Tik Tok announced the results of cracking down on illegal production: 2.03 million fraudulent accounts were banned, and 550 million brush requests were intercepted]

  The ByteDance Security Center recently announced the crackdown results of the special campaign "Woodpecker 2019" to crack down on black products. As of December 31st, in the "Woodpecker 2019" special crackdown, 2.03 million illegal accounts in Tik Tok were banned, 293 accounts in Tik Tok with more than 1 million fans, 4,638 accounts in Tik Tok with more than 100,000 fans, and 17,089 accounts in Tik Tok with illegal products and goods were banned. At the same time, the operation also intercepted 551 million requests for brush praise and brush powder.

  [Samsung Galaxy vulnerability was exploited by hackers and many stars were blackmailed]

  According to foreign media reports, a report released by South Korea’s Dispatch shows that some first-line actors, idols and even a famous chef have been blackmailed by hackers. These hackers obtained the personal data of these victims through a loophole in Samsung’s flagship Galaxy mobile phone. Once hackers have access to these celebrities’ mobile phones, they can get data such as text messages, photos and videos on the devices.

  [Dada Group responds to IPO in the United States: no comment]

  Today, it is reported that Dada Group (formerly Dada-JD.COM arrived home) has recently secretly submitted the form to the US Securities and Exchange Commission, and will be officially listed in the first half of 2020 at the earliest. It is estimated that the fundraising scale will be about 500 million US dollars. Dada Group responded that it would not comment.

  [Xiaomi’s trademark infringement case was settled, and Xiaomi won the case in an all-round way and won 50 million yuan]

  Recently, the case of trademark infringement and unfair competition dispute between Xiaomi and Zhongshan Mijia Electric Appliance Co., Ltd. (renamed) and other related parties was settled, and the Jiangsu Higher People’s Court officially ruled that Xiaomi won the final case and would receive 50 million yuan compensation, and the other party would pay the litigation costs. A legal person said that this is the highest amount of compensation in the effective judgment of domestic public trademark infringement in the past three years.

  [Litchi Update Prospectus, with a maximum fundraising of 61 million US dollars]

  On January 8th, EDT, the UGC audio community Litchi (formerly Litchi FM) announced the latest prospectus with price range, and will launch the global public offering on January 9th, Beijing time. According to the prospectus, Litchi plans to issue 4.1 million American Depositary Shares (ADSs) at an issue price range of $ 11-13 /ADS. According to the upper limit of this pricing range, the valuation range of litchi IPO is about $520 million-$620 million (after green shoes), and it will raise about $61 million at most.

  [Layout of women’s nursing business, Procter & Gamble will acquire a new brand billie]

  Procter & Gamble recently announced that it will acquire a new Internet brand billie, which mainly sells women’s razors, shaving cream, shower gel and other products to consumers, but did not disclose the specific transaction price.

  Billie was founded in 2017, and the co-founders of the brand will continue to operate independently after the transaction is completed. In the first quarter of fiscal year 2020, P&G Group’s sales increased by 6.6% year-on-year to $17.8 billion, while its net profit rose by 12% to $3.6 billion, compared with $3.2 billion in the same period last year.

  [Yunda responded to the incident that the courier beat up the consumer: the courier involved had been fired]

  Ms. Wu from Luohu, Shenzhen received public attention for complaining that the courier was beaten at home. In this regard, Yunda said that the branch where the courier was involved had expelled the courier, and Yunda was organizing the branch where the courier was involved for training and rectification.

  Venture capital circle

  [Allbirds, an American environmental protection footwear brand, will complete the $75 million Series D financing]

  According to BrandStar, American environmental protection footwear brand "Allbirds" is about to raise $75 million in Series D financing, led by Baillie Gifford and Fidelity Management & Research. After this round of financing, the total financing amount of Allbirds will exceed $150 million. The funds in the D round of financing will be used to support the company’s growth, focus on investment in supporting material research and development, and promote the innovation of sustainable technology solutions.

  [Community retail platform "Ten Clubs" completed a new round of financing of 88.3 million US dollars]

  The community retail platform "Ten Hui Tuan" announced that its new round of financing has been successfully delivered. This round of financing amounted to US$ 88.3 million, and most of the investors were those who participated in previous rounds, including Joy Capital, Ruice Capital, Qiming Venture Capital, Alibaba, Zhenge Fund and Huachuang Capital. The 10th delegation said that the funds raised will be used to strengthen investment in supply chain and technology and deepen the construction of industrial chain.

  [Former Baidu Senior Vice President Xiang Hailong set up a new fund and completed the first fundraising of 200 million yuan]

  Xiang Hailong, the former senior vice president of Baidu, confirmed exclusively that Longzhong Xinyi Fund, founded by him, has completed the fundraising of the first RMB fund, with a scale of 200 million RMB, and will focus on the angel stage investment in the direction of To B.. Xiang Hailong told 36Kr that the sources of funds of the fund are not self-owned, but he did not disclose the composition of LP. Besides the first fund, the second fund will also be raised in the second half of 2020.

  ["Kuhan Technology" won tens of millions of angel round financing from Xinyun Venture Capital]

  Suzhou Kuhan Information Technology Co., Ltd. ("Kuhan Technology"), an enterprise-level software-defined storage technology company, announced the successful completion of Angel Round financing. This round of financing was led by Xinyun Venture Capital, and the funds will be mainly used for the industrialization of the next generation PCIe Gen5 enterprise-level SSD storage master chip and the research and development of a high-performance distributed software-defined storage control engine. Founded at the end of 2017, Kuhan Technology is a storage technology company founded by a team of returnees, with R&D centers in Suzhou and Silicon Valley.

  [Nailing the ecological enterprise "Mingwo Technology" to complete tens of millions of A+ rounds of financing]

  Mingwo Technology, a provider of intelligent office hardware and solutions, recently completed tens of millions of A+ rounds of financing, which was led by the SME Development Fund (Jiangsu Limited Partnership) and followed by funds such as Unicom Xinwo (Shanghai) Venture Capital Partnership (Limited Partnership). The funds will be mainly used to expand the company’s scale, invest in products and operate services. Mingwo Technology was established in 2013. At the beginning, its main business was the research and development of intelligent hardware. In 2016, the company obtained Alibaba’s angel round financing and focused on smart office hardware with nails.

  [American fitness subscription platform "ClassPass" received $285 million in Series E financing]

  Recently, according to foreign media reports, the American fitness subscription platform "ClassPass" completed the E-round financing of 285 million US dollars. This round of financing was led by L Catterton and Apax Digital, and the existing investor Temasek participated. The latest round of financing has valued ClassPass at $1 billion. ClassPass was launched in 2013 and headquartered in new york, aiming to provide users with easier exercise methods.

  ["Virtual Incision Corporation" received $20 million in financing]

  Recently, according to foreign media reports, "Virtual Incision Corporation" announced that it has obtained a $20 million B+ round of financing, which was led by Bluestem Capital. The main product of Virtual Incision Corporation is MIRA, which is specially designed for minimally invasive abdominal surgery.

  [ellman, an educational institution of STEAM, has received tens of millions of angel round financing]

  Ellman, which focuses on STEAM education, recently completed the angel round of financing, with the financing amount reaching 10 million, and this round of financing was conducted by well-known investors. Ellman Education revealed that this round of funds will be mainly used for content upgrading, curriculum research and development, team formation and market expansion. Founded in 2018, ellman is an educational institution for Lego international courses for children aged 3 to 16.

  ["Tianyan Pharmaceutical" completed the $69 million Series D financing]

  Tianyan Pharmaceutical announced the completion of Series D financing of US$ 69 million, which was led by US$ 50 million from Transatlantic Investment Group. The proceeds will be used for the development of immunotherapy clinical projects and the frontier expansion of its innovative technologies. Luo Peizhi, co-founder and CEO of Tianyan Pharmaceutical Co., Ltd. said, "The investment of new funds will support the development of our main clinical projects ADG106 and ADG116, and also expand the research and development of cutting-edge new technologies, thereby expanding the company’s clinical research and development product line and further promoting the sustainable development of enterprises."

  [Huake Chuangzhi completed RMB 100 million Series C financing]

  According to public information, Huake Chuangzhi has recently completed a series C financing of 100 million yuan, which was exclusively invested by Greater Bay Area Common Home Development Fund (hereinafter referred to as "Greater Bay Area Fund"). This round of financing is mainly used for the research and development of the company’s silver nanowire basic technology, the development of silver nanowire capacitive screen, the development of CPI film, the development of foldable touch module and the promotion of independent smart terminal brand SURWISE. The company will continue to further expand the silver nanowire industry chain.

  [Duopeng Technology completed the $13 million Series A financing]

  Recently, a zero-trust data security startup, Duopeng Technology, announced that it has completed the Series A financing of 13 million US dollars, which was led by Time Capital, followed by Cornerstone Capital and Songhe Capital, and the old shareholder Jingwei China continued to increase the price, and the subscription amount far exceeded expectations. This round of financing will be used to increase R&D investment and market expansion, continue to deepen zero-trust technologies and solutions, and provide leading data security services for enterprises.

  macro-economy

  [Association: China’s retail sales of generalized passenger cars in 2019 decreased by 7.5% year-on-year, which was the second consecutive year of decline]

  According to the data of the Association, the retail sales of generalized passenger cars in China in 2019 decreased by 7.5% year-on-year, which was the second consecutive year of decline.

  [Ministry of Commerce: The regional layout of the eastern, central and western regions will be considered in the construction of the new import trade innovation demonstration zone]

  Gao Feng, spokesman of the Ministry of Commerce, said at a regular press conference on the 9th that the Ministry of Commerce is evaluating four import trade innovation demonstration zones, and the construction of the new import trade innovation demonstration zone will consider the regional layout of the eastern, central and western regions, and promote it actively, steadily and orderly.

  [Analysys: In 2019, the scale of Internet catering take-out transactions exceeded 727.4 billion yuan]

  According to Insight into the Ultra-digital Practice of China Catering Merchants 2020 released by Analysys, the scale of Internet catering take-out transactions in 2019 exceeded 727.4 billion yuan. Small and medium-sized businesses in third-and fourth-tier cities are hungry, and the number of word-of-mouth digital services has doubled. In addition, the number of convenience quality merchants and fresh takeaway quality merchants who are hungry online has also maintained a growth rate of more than 130% year-on-year.

  [China’s first experimental satellite for space gravitational wave detection technology "Taiji-1" completed on-orbit delivery]

  According to the news from official website, Chinese Academy of Sciences, on January 8th, the on-orbit delivery ceremony of China’s first experimental satellite for space gravitational wave detection technology "Taiji-1" (microgravity experimental satellite) was held in Beijing. Relevant persons in charge of the University of Chinese Academy of Sciences, Institute of Microsatellite Innovation of Chinese Academy of Sciences, Xi ‘an Satellite Monitoring and Control Center and National Space Science Center of Chinese Academy of Sciences respectively signed the satellite on-orbit delivery certificate on behalf of the satellite user unit, research unit, long-term management unit and ground support unit.

  [The passenger traffic volume of civil aviation in Spring Festival travel rush is expected to reach 79 million this year]

  At the press conference held by the the State Council Press Office, Wan Xiangdong, chief pilot of the Civil Aviation Administration of China, said that the passenger traffic of civil aviation in Spring Festival travel rush this year is expected to reach 79 million, an increase of about 8.4% over last year and a record high. The hotspots of civil aviation in Spring Festival travel rush are concentrated in hotline cities such as Beishangguangshen and Shenzhen, and in southwest, northeast and Hainan, while international travel is mainly concentrated in neighboring countries such as Japan, South Korea, Thailand, Vietnam, Malaysia and the Philippines.

  [China Xintongyuan: In 2019, domestic smartphone shipments were 372 million units, down 4.7% year-on-year].

  According to the data disclosed by China ICT Institute, in December 2019, domestic smartphone shipments reached 28.931 million units, down 13.7% year-on-year, including 5.414 million 5G mobile phones. In 2019, domestic smartphone shipments were 372 million units, down 4.7% year-on-year, including 13.769 million 5G mobile phones.

  [The Regulations on Cosmetics Management will be issued soon]

  The "Regulations on Cosmetics Management" will be issued soon, which will rebuild the entire chain of cosmetics market from research and development to sales, and new regulations will also be issued on the use of new cosmetics materials. According to experts, there are four main changes in the Regulations. First, the management of new raw materials will be in the form of "registration+filing+reporting". Second, the classification of cosmetics has been re-formulated. Third, the efficacy should have sufficient scientific basis. Fourth, pay more attention to the safety assessment of cosmetics.

  Big brother picks up his voice.

  [Zhang Xiaolong: Consider raising the limit of WeChat friends, and WeChat short content will be launched]

  Zhang Xiaolong, founder of WeChat and senior vice president of Tencent, said that in the past, there was a Dunbar number principle in academic circles, and the number of friends of one person was at most 150. Now it has been greatly broken, and the number of friends of nearly one million WeChat users is close to 5,000, forcing us to consider increasing the number of friends. At present, the maximum number of WeChat friends is set at 5,000. In addition, Zhang Xiaolong said that the short content of WeChat has always been the direction to make efforts, and if it goes well, I will meet you in the near future. There will also be some new creations in the Spring Festival red envelopes.

  [Ghosn: Before he was arrested, he was discussing the merger with FCA and would not disclose how to leave Japan]

  Ghosn, the former chairman of Nissan, said that he would not disclose how to leave Japan, but the reason for fleeing was that he could not get a fair trial. Ghosn said that the Japanese judicial system he faced had a success rate of 90%, while the success rate for foreigners was higher than 90%. Ghosn also revealed at the press conference that before his arrest, he had been discussing the merger of some businesses with Fiat Chrysler (FCA), but he had "aborted" because of this incident before the final stage, and now Peugeot Citroen has got a bargain.

  Sources: Sina, 36Kr, Yiming.com, etc.

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

(Editor: Wang Zhiqiang HF013)

Punch in the Asian Games with Zhu Bingren! Put away this super-full map quickly

  On September 23rd, the 19th Asian Games in Hangzhou opened! Hangzhou Asian Games is not only a sports event, but also a big stage to show Chinese culture. As a bronze "Hangzhou business card" presented to the world,"Zhu Bingren Bronze" also inserted the wings of the Asian Games and "flew" to everyone.

Now, let’s look at it from the perspective of copper

Let’s take a look at the different Hangzhou Asian Games ~

"Zhu Bingren Copper" welcomes all of you to meet in Hangzhou.

Watch the game, enjoy the beautiful scenery and enjoy the culture together ~

Please keep this bronze sculpture map of the Asian Games.

17 places to visit

Let’s punch in one place at a time and set off after reading it!

Cultural House of Technical Officials Village in Asian Games Village  

  Entering the cultural house of technical officials’ village, the atmosphere of "national style" is full. What you see is a map of a thousand miles of mountains and rivers nearly 6 meters long. In the hut, there are also lifelike "Thousands of Waves Rolling Snow", "Sunflowers Facing the Sun" and "Fulu China Zun". These bronze works of art from Zhu Bingren, the master of China, all reflect the ingenuity of intangible skills and highlight the elegant charm of Jiangnan literati.

Asian Games Village Media Village

  Walk into the Media Village of the Asian Games Village on the Qiantang River. During the Asian Games, it will be the "home" of about 12,000 media reporters around the world. The Lotus Zun of the Asian Games, designed by Zhu Bingren with Liangzhu culture, is displayed here. Celadon and bronze carving are two intangible crafts that collide and merge to create an exclusive gift for the Asian Games in Hangzhou.

Asian Games Village Protocol Service Center

  In the Protocol Service Center of the Asian Games Village, which undertakes the heavy reception task of the Asian Games Village, three collections of Zhu Bingren’s "Gifts to the Asian Games" were exhibited, namely, Three Seals of Hearts, China Chess for the Asian Games, and Lucky Runze Geng Cai Copper Bottle. Traditional bronze art is combined with the spirit of the Asian Games, and the bronze heart is dedicated to the Asian Games.

Asian Games Village Licensed Goods Retail Store

  In the licensed retail stores in the Asian Games Village, all the licensed commemorative collections created by Zhu Bingren for the "Gift Asian Games" are listed! Soul mate three consecutive seals, Lotus Zun of Asian Games, Lucky Runze Geng Cai Copper Bottle, Asian Games China Chess, Asian Rhyme Runze Series, Oriental Grand Ceremony Asian Games with Jade … … Inheriting ingenuity and stunning the world!

Main Media Center of Hangzhou Asian Games

  The main media center of the Hangzhou Asian Games is the base camp for Chinese and foreign media reporters during the Games, where the exhibition "Golden Pine welcomes guests" extends obliquely, as if it were a hospitable host. The beautiful meaning of "welcoming guests", "accompanying guests" and "seeing them off" complements the image of the main media center of Hangzhou Asian Games in welcoming visitors from all directions and displaying the window of the host city.

Linping sports center

  Entering the Linping Sports Center Stadium, the venues are firmly connected in series by a "Silk Road". In the venue, 10 pieces of bronze works of art, including "Zhu Bingren Copper", such as "Celebrating the Year", "Longevity and Longevity", "Splendid Harmony" and "Fulu Xianbao", presented a magnificent cultural feast of the national tide!

Tonglu equestrian center

  Tonglu Equestrian Center, located in Tonglu County, Hangzhou, is the venue for equestrian events of Hangzhou Asian Games and one of the few professional equestrian competition venues in China. The "Zhu Bingren Imperial Horse Works Exhibition" was held here, and 26 non-legacy bronze horses were full of heroic spirit, showing the glory of the Asian Games.

Hangzhou World Tourism Expo

  At the "Hangzhou 2023 Olympic Expo" held by Hangzhou World Tourism Museum, you can not only see the centuries-old legacy of previous Asian Games and Olympic Games, such as torches, medals, mascots, posters and images, but also appreciate Zhu Bingren’s classic works inspired by Asian Games elements ~

Zhu Bingren presented the Soul of the Sword to IOC President Bach.

  China Jiangnan Water Town Culture Museum

  See how the elements of the Asian Games in Hangzhou "collide" with the water culture in the south of the Yangtze River. There are 40 pieces (sets) of Zhu Bingren’s selected works, 800 square meters of art space, and the "Melting into the South of the Yangtze River" art exhibition in China. The exhibition will simultaneously carry out a number of non-legacy experience activities, waiting for you to participate ~

Zhejiang Zhu Bingren Bronze Carving Art Museum

  The Asian Games "Collection Show", Ink "Dopamine" and Copper "Blind Box" were unpacked & HELIP; … The bronze houses in the south of the Yangtze River, located in Hefang Street, are in full swing to present the Asian Games. In the experience area of non-legacy activities, there are also non-legacy copper activities waiting for you. "Zhu Bingren Copper" and you "Copper" go to a national non-genetic inheritance "relay" outside the Asian Games schedule … …

Zhijiang New Library of Zhejiang Library

  From the "temple of books" to the "ladder of knowledge", the bronze mural of "starry sky" is just around the corner. Hand-painted starry sky "cloud ink painting", combined with the art of melting copper and high-temperature glaze color production, builds a beautiful landscape of the "universe" of the book sea, and takes pictures by punching in.

Hangzhou east railway station arrivals and departures center VIP room

  Hangzhou east railway station is known as the "first gateway" of Hangzhou. In the strong atmosphere of the Asian Games, four exquisite copper artworks from "Zhu Bingren Copper", such as Luwang Tianzun, Qianli Jiangshan Series and Ruihe Chengxiang Tea Tray, are displayed in the VIP room, showing the beauty of mountains and rivers and the charm of culture.

Hangzhou east railway station wanxianghui

  Coming out of the East Station, I just went to Vientiane for a stroll. In the circular area of Wanxianghui Atrium, several innovative copper artworks of "Zhu Bingren Copper" kicked off. Near one of the largest transportation hubs in Asia — — At the Vientiane Meeting next to hangzhou east railway station, "Zhu Bingren Copper" tells the cultural story of China to the whole world.

Hangzhou city balcony

  With the Asian Games, the city balcony has become a new landmark in online celebrity, and the light show on both sides of Qianjiang River attracts thousands of people to watch it. The presence of "Zhu Bingren Bronze" melts the intangible bronze art into the city landmark, and interprets the spirit of the Asian Games with the elements of song rhyme, which is intertwined with ancient and modern times and has a unique charm.

Beichen Hotel Hangzhou International Expo Center

  Official reception hotels at the main venue of G20 Hangzhou Summit and Hangzhou Asian Games — — In the Beichen Hotel of Hangzhou International Expo Center, works of "Zhu Bingren Copper" can be seen everywhere, such as Yayun Runze Series, Deer King Tianzun, Bronze Pots Flourishing All the Way and Good Luck All the Way … … 18 pieces of non-legacy bronze works of art complement each other, and the sub-rhyme is wonderful ~

Grand hyatt Hangzhou

  Grand Hyatt Hangzhou, located on the beautiful West Lake, is also one of the designated reception hotels for the 19th Hangzhou Asian Games. Bottle flowers, bonsai, tea ware … … A piece of bronze works of art is displayed here. They come from Zhu Junmin, a master of arts and crafts in Zhejiang Province and a representative inheritor of national intangible bronze carving skills in Zhejiang Province, and spread the cultural code of "Song Yun" with the wind of the Asian Games.

Sofitel Hangzhou Westlake

  In Sofitel Hangzhou West Lake Hotel, the "Zhu Bingren Copper" Intangible Life Experience Museum is located here, surrounded by French romance with bright bronze art, and the beautiful poetry of combining Chinese and Western styles is interpreted. At first glance, the licensed commemorative collection created by Zhu Bingren for the Asian Games is displayed in the "C position", and the elements of the Asian Games "collide" with the Song Yun culture, showing the grand scene of Hangzhou culture and the beauty of Song Yun which have been passed down for thousands of years.

OTC market structure of foreign-funded pharmaceutical companies

In recent years, the news that foreign pharmaceutical companies have acquired China OTC pharmaceutical companies and health care products companies has spread frequently. For foreign pharmaceutical companies, although the acquired products are not enough to make up for the reduced income of prescription drugs in the short term, their greater significance lies in the layout of retail channels. Then, what kind of competition pattern is the OTC products of foreign pharmaceutical companies in the retail channel now?

Changes in the pharmaceutical market environment have forced foreign pharmaceutical companies to lay out the OTC market.

Recently, Pfizer announced the acquisition of a wholly-owned subsidiary of Yue Xian Pharmaceutical Co., Ltd. — — Qianlin Health Industry Co., Ltd. and its Qianlin brand products. Qianlin is one of the top ten health brands in China, and its rich product portfolio focuses on the nutritional and health needs of women in China. The addition of Qianlin products has improved the product series of Pfizer Health Medicine Department in China, thus strengthening Pfizer’s leading position in the field of over-the-counter drugs (OTC) and dietary supplements.

In recent years, foreign pharmaceutical companies have frequently acquired OTC pharmaceutical companies and health care products companies in China to lay out the retail market. The main reason is that the changes in the pharmaceutical market environment in China have forced foreign pharmaceutical companies to adjust their business strategies. On the one hand, after the GlaxoSmithKline incident, the China government’s compliance restrictions on foreign-funded pharmaceutical companies have become stricter, and the original sales model is in danger of falling apart; On the other hand, with the deepening of medical reform in China, the bidding and purchasing prices of drugs in various provinces have dropped again and again, and a large number of foreign-funded pharmaceutical companies have dropped or abandoned the bidding, which will inevitably lead to a decline in the sales of foreign-funded pharmaceutical companies in hospital terminals. It is urgent to enrich the product categories and open up retail market channels to make up for the negative impact of the decline in prescription drug revenue growth. In addition, China consumers’ awareness of self-care has been enhanced, and their level of self-medication has been continuously improved, so there is a great potential demand in OTC market.

From the perspective of consumers’ health care behavior, OTC has some functions of health care products and prescription drugs, and there are three overlapping markets: one part of the market competes with health care products; Some of them face some long-term and chronic sub-diseases and have relatively fixed consumer groups, competing with prescription drugs for the market; The main market is the common diseases facing self-medication, such as colds, gastrointestinal diseases and skin inflammation.

For foreign pharmaceutical companies, although the acquired products are not enough to make up for the slow income on prescription drugs in the short term, the greater significance of arranging OTC or health care products lies in the preparation of retail channels. So, what is the competition pattern of OTC products of foreign pharmaceutical companies in retail channels now?

Foreign OTC products have great market development potential.

The market competition of OTC drugs is very fierce, market brand is the core, and the concentration of dominant enterprises is high. In the global market, major OTC pharmaceutical companies include Johnson & Johnson, GlaxoSmithKline, Bayer, Novartis, Sanofi-Aventis, Lijie, Wyeth and Procter & Gamble. The OTC market size of the world’s top ten well-known pharmaceutical companies accounts for about 34% of the total, and there is a trend of continuous improvement.

In the China market, according to CMH data of Zhongkang, in 2014, the OTC sales scale of Chinese and foreign-funded enterprises in retail pharmacies was 16.68 billion yuan, up by 10.1% year-on-year, accounting for only 15.7% of the total OTC sales of pharmacies, indicating that the current share of foreign-funded pharmaceutical companies in the OTC market of pharmacies is small, and there is a big room for expansion in the future.

OTC products of foreign-funded enterprises in retail pharmacies are mainly chemical drugs, accounting for 84.3% of the total sales, and the market share of proprietary Chinese medicines is only 15.7%. Drug categories are mainly concentrated in the fields of vitamins and minerals, skin diseases, calcium preparations and so on.

  • Figure 1 Market share of TOP10 drugs in OTC market of foreign-funded pharmaceutical companies in 2014

Among retail pharmacies, there are 99 foreign-funded pharmaceutical companies selling OTC products, including 21 enterprises with sales exceeding 100 million. The cumulative sales of the TOP10 best-selling enterprises is 13.62 billion yuan, with a cumulative market share of 81.6%, and the market concentration is very high.

  • Fig. 2 Market share of TOP10 foreign-funded enterprises in OTC market

Bayer, Johnson & Johnson and Pfizer are the three giants in the OTC drug retail market in China, and the market share of each enterprise is above 13%.

In 2014, Bayer successively acquired the OTC business of consumer health products and Dianhong Pharmaceutical under MSD, becoming the largest foreign pharmaceutical company in the OTC retail market in China, with a market share of 19.6% in foreign companies, and 9 brands with retail sales exceeding 100 million yuan, with a wide range of products.

Johnson & Johnson China’s three major businesses in China are pharmaceuticals, medical equipment and consumer goods. The pharmaceutical sector is mainly Xi ‘an Jansen and Johnson & Johnson Pharmaceuticals, which are established and leading foreign-funded enterprises in China OTC market. In 2013, Xi ‘an Jansen and Johnson & Johnson Pharmaceutical completed the integration of OTC business. At present, the market share of Johnson & Johnson Pharmaceuticals in China OTC retail market is 15.7%, which is lower than Bayer Pharmaceuticals, but still significantly higher than that of other foreign-funded pharmaceutical companies. There are 8 brands with sales exceeding 100 million in the retail market, a single brand — — Dakening’s market share is as high as 5.9%.

Pfizer has always been in the forefront of OTC in China. The OTC products of its Health Drugs Department are mainly vitamin supplements, and the market share of calcium supplements "calcium/gold calcium" and multivitamin supplements "good storage" ranks among the top three in China OTC vitamin and mineral supplements respectively. Pfizer’s market share in the OTC drug retail market in China is 13.2%, of which the cumulative market share of only two brands, Calch/Golden Calch and Shancun, is as high as 12.6%.

Generally speaking, among the OTC brands of retail pharmacies, there are 42 brands with sales scale of over 100 million by foreign pharmaceutical companies, among which Bayer Pharmaceuticals has the largest number of brands, and Pfizer’s brand — — The market share of calcium/gold calcium is the highest, reaching 8%. See the following table for details of each brand:

  • Fig. 3 Brands with OTC product sales exceeding 100 million and their market share of foreign-funded enterprises

This article is from WeChat official account of Xinkangjie (XKJ0101) WeChat, please indicate the source!

Notice of the General Office of the Beijing Municipal Committee of the Communist Party of China and the General Office of the Beijing Municipal People’s Government on Printing and Distributing the Thr

District committees, district governments, ministries and commissions of the Municipal Party Committee, municipal state organs, state-owned enterprises, people’s organizations and institutions of higher learning:

  With the consent of the Municipal Party Committee and the Municipal Government, we hereby print and distribute the Three-year Action Plan (2020-2022) on strengthening Beijing’s property management and improving the property service level to you, please conscientiously implement it in light of the actual situation.

General Office of Beijing Municipal Committee of CPC

General Office of Beijing Municipal People’s Government

July 12, 2020

Three-year Action Plan (2020-2022) on Strengthening Beijing Property Management and Improving Property Service Level

  In order to build a property management system under the framework of party building leading community governance, effectively improve the level of property services, and build a harmonious and livable community, this action plan is formulated in accordance with the Regulations of Beijing Municipality on Property Management (hereinafter referred to as the Regulations) and combined with the actual situation.

  I. General requirements

  (A) the guiding ideology

  Guided by Socialism with Chinese characteristics Thought of the Supreme Leader in the New Era, we will fully implement the spirit of the 19th National Congress of the Communist Party of China and the Second, Third and Fourth Plenary Sessions of the 19th National Congress, thoroughly implement the spirit of the important speech of the Supreme Leader General Secretary to Beijing, adhere to the people-centered development concept, improve the property management system and mechanism, strengthen refined management, effectively improve the service level, continuously improve the living environment, promote the modernization of the capital city governance system and governance capacity, and continuously enhance the people’s sense of acquisition, happiness and security.

  (2) Basic principles

  1. Adhere to the guidance of party building. Give full play to the fighting bastion role of grassroots party organizations and the vanguard and exemplary role of party member, and strengthen the political guidance, organizational guidance, ability guidance and mechanism guidance of street (township) and community party organizations to property service enterprises and owners’ committees (property management committees), so as to make them an important force for the party to contact and serve the masses and strengthen grassroots governance.

  2. Insist on bringing property management into the community governance system. Take property management as an important part of community governance, promote decentralization and power sinking in an orderly manner according to law, give full play to the role of streets (towns) and communities, and establish a simple and efficient management system and mechanism.

  3. Adhere to the service orientation. Combining management with service, focusing on solving the worries, worries and worries around the masses, standardizing the main behaviors of all parties in property management, and improving management ability and service level.

  4. Insist on relying on and mobilizing the masses. Change the concept of governance, innovate the governance model, guide residents to actively participate in the management of community affairs, stimulate the vitality of grassroots governance, and realize joint construction, governance and sharing.

  (III) Work objectives

  Through three years’ efforts, the system and mechanism of property management are basically sound, the policy and standard system is basically perfect, the outstanding problems in the field of property management have been effectively managed, the working pattern of party Committee leadership, government-led, residents’ autonomy, multi-party participation, consultation and co-construction, and scientific and technological support has basically taken shape, the level of property service has been significantly improved, and the satisfaction of the masses has been greatly improved.

  In 2020, taking the promulgation of the Regulations as an opportunity, we will consolidate the full coverage of the Party’s work in COVID-19 epidemic prevention and control, build the supervision and management organizational structure of city, district, street (township) and community property management, optimize the allocation of power, improve supporting policies and standards, and form a good start in implementing the Regulations.

  In 2021, the formation rate of owners’ committees (property management committees), the coverage rate of property services and the party’s organizational coverage rate were significantly improved, the property management system under the framework of community governance led by party building was further improved, the ability of streets (towns) to guide property management was further enhanced, the property services in old communities made breakthroughs, and remarkable results were achieved in the management of outstanding problems in the property industry.

  In 2022, the property management system under the framework of community governance led by party building will be built in an all-round way, the strength and ability of street (township) and community management will be enhanced in an all-round way, and the long-term mechanism of property management will basically take shape. Owners’ committees (property management committees), property services and party organizations have achieved extensive coverage.

  Second, the main task

  (a) improve the supervision and management mechanism of the city, district, street (township) and community.

  1. Strengthen overall coordination at the municipal level. The city’s street work and the "whistle report" reform class coordinated the implementation of the "Regulations", strengthened coordination and dispatch, and strengthened supervision and assessment. Establish and strengthen the municipal joint meeting system of property management. The member units include the Municipal Housing and Urban-Rural Development Committee, the Urban Work Office of the Municipal Party Committee, the Organization Department of the Municipal Party Committee, the Civil Affairs Bureau of the Municipal Social Work Committee, the Municipal Judicial Bureau and other departments, as well as the district committees and governments (including the Party Working Committee and the Administrative Committee of Beijing Economic and Technological Development Zone, the same below). Each member unit is responsible for the supervision and management of property management and law enforcement inspection, and municipal public service enterprises such as water, electricity, gas and heat do relevant work according to their duties.

  2. Strengthen organizational leadership in all districts. All districts should take the related work of property management as the "number one" project, establish and improve the corresponding comprehensive coordination and promotion mechanism, formulate annual plans, clarify work objectives, organize streets (townships) and communities to promote the supervision and management of property management as a whole, and strengthen inspection and assessment; Organize the training of members of the owners’ committee (property management committee).

  3 streets (towns) to implement the main responsibility. Streets (towns and villages) should establish the working mechanism of "top leaders" personally, combine the reform of management system, clarify the supervision and management institutions of property management, optimize the allocation of power, and make overall plans for the supervision and management of property management within their respective jurisdictions; Organize, coordinate and guide the formation of owners’ committees (property management committees), and improve the formation rate of owners’ committees (property management committees), the coverage rate of property services and the coverage rate of party organizations; Make full use of the "whistle for reporting" working mechanism, do a good job of "handling complaints immediately" and "handling without complaints first", coordinate and solve property management problems reflected by the masses, and strengthen comprehensive law enforcement.

  4. The community pays special attention to concrete implementation. Community party organizations guide the establishment of a consultation mechanism, organize residents’ committees, owners’ committees (property management committees), property service enterprises, resident units and residents’ representatives to conduct regular consultations, promote the establishment of party organizations in owners’ committees (property management committees) and property service enterprises, coordinate and solve property management problems, and mediate contradictions and disputes; Assist the street (township) to evaluate the performance of the owners’ committee (property management committee) and the performance of the property service enterprises; Actively guide the owners’ autonomous management and supervise the operation of the owners’ committee (property management committee).

  (two) improve the owners’ committee (property management committee) formation rate, property service coverage, party organization coverage.

  5. Improve the formation rate of the owners’ committee (property management committee). Strengthen classified guidance and actively promote the establishment of owners’ committees (property management committees) under the guidance of party building. Do not have the conditions to set up the owners’ committee, to actively set up a property management committee. Street (township) and community party organizations should actively guide party member owners to participate in the management of community public affairs and play a vanguard and exemplary role in grassroots governance. Efforts will be made to improve the formation rate of owners’ committees (property management committees) in residential areas managed by property service enterprises, and focus on the formation of owners’ committees (property management committees) in commercial housing communities. More than 2,000 new owners’ committees (property management committees) will be established before the end of 2020; The formation rate of owners’ committees (property management committees) will reach over 30%, over 70% in 2021 and over 90% in 2022. (Responsible units: district committees and governments, municipal housing and urban-rural development committee, municipal party committee organization department, municipal party committee social work committee civil affairs bureau)

  6. Improve the coverage of property services. Streets (townships) and communities should promote the convening of owners’ meetings, guide residents in residential areas to make democratic decisions and jointly decide to choose appropriate forms of property services from various forms, such as self-management, entrusting unified management of property service enterprises, entrusting specialized units to provide special services, and entrusting other property managers to manage, so as to gradually expand the coverage rate of property services in residential areas, especially in old ones. The coverage rate of property services will reach over 60% in 2020, over 70% in 2021 and over 90% in 2022. (Responsible units: district committees and governments, municipal housing and urban-rural development committee, municipal party committee organization department, municipal party committee social work committee civil affairs bureau)

  7. Improve the Party’s organizational coverage. Street (township) and community party organizations should put the party building work of the owners’ committee (property management committee) and property service enterprises on the agenda, intensify the work, and do a good job in the formation of party organizations. Provide basic property services, living services and safety management for communities without property services, and take the lead in building party organizations. Fully implement the "two-way entry and cross-employment", guide and support party member among the owners to actively run for the membership of the owners’ committee when the owners’ committee is established and changed, and serve as a member of the owners’ committee through legal procedures. In 2020, on the basis of full coverage of the Party’s work, the Party’s organizational coverage will reach over 30%, over 70% in 2021 and over 90% in 2022. (Responsible units: district committees and governments, municipal party committee organization department, municipal housing and urban-rural development committee, municipal social work committee and civil affairs bureau)

  (3) Improve supporting policies and standards.

  8. Improve supporting policies. Combined with the implementation of the "Regulations" and the actual work of property management, we will speed up the formulation of documents such as the methods for the establishment of property management committees, the management methods for the handover of property service projects, and the management methods for the performance evaluation of property service enterprises, and revise the "Guiding Rules for Owners’ Congress and Owners’ Committees in Beijing Residential Areas" to gradually form a policy system that is mutually connected and supportive. (Responsible unit: Municipal Housing and Urban-Rural Development Committee and other relevant departments)

  9. Improve standards and norms. Formulate the list of residential property service projects, the cost information and pricing rules of property service projects, the rules of revenue and expenditure publicity, etc., revise the Residential Property Service Standards, etc., and establish a property service management standard with unified rules, clear requirements, openness and transparency, and operability. Formulate model texts of management regulations, rules of procedure of owners’ congress, property service contracts and prophase property service contracts, etc., and standardize the behaviors of all parties involved in property services. (Responsible unit: Municipal Housing and Urban-Rural Development Committee and other relevant departments)

  (D) to promote the healthy development of the property services market

  10. Cultivate the market environment. Study and formulate guiding opinions to promote the healthy development of the property industry, establish and improve an open and transparent property service market mechanism with consistent quality and price, and promote the professional, chained and branded development of property services. Encourage property service enterprises to diversify and operate in a diversified way, and adopt modern information technology to vigorously develop smart properties. Establish an incentive mechanism for the development of high-quality property service enterprises and support them to assume social responsibilities. (Responsible units: district committees and governments, municipal housing and urban-rural development committee)

  11. Strengthen market supervision. Do a good job in daily supervision of property service enterprises, improve the normalization supervision mechanism, strengthen law enforcement inspection, and promptly urge rectification when problems are found. Improve the credit evaluation system of property service enterprises through performance evaluation and establish a classified reward and punishment system. Build a bidding platform for property services, improve the exit mechanism of property service enterprises, and strengthen the management of hiring and exit of property service enterprises. In accordance with the deployment of the special struggle against evil, we will continue to rectify the chaos in the property management industry and promote the healthy and orderly development of the industry. (Responsible units: Municipal Housing and Urban-Rural Development Committee, Municipal Committee of Political Science and Law, Municipal Public Security Bureau, and district committees and governments)

  12. Give play to the role of trade associations. Encourage and support property service enterprises to join industry associations, implement self-discipline management, mediate contradictions and disputes, carry out business training, and improve their professional ability and service level. Encourage property service enterprises to form regional property service alliances, promote enterprise alliance, promote complementary advantages and form brand effect. (Responsible unit: Municipal Housing and Urban-Rural Development Committee, district committees and governments)

  (5) Promote the solution of key and difficult problems.

  13. Promote the establishment of a property management mechanism in old communities. Before the comprehensive renovation of old residential areas is implemented, the owners’ committee (property management committee) will be formed under the guidance of party building, and the owners will be organized to reach an agreement on property service standards and charging standards, choose a suitable property service model according to local conditions, and sign a property service agreement; Coordinate the whole process of property service enterprises to participate in comprehensive improvement; Combined with comprehensive improvement, we will make up for the construction and continue to raise special maintenance funds for residential buildings. Relevant municipal state-owned enterprises should implement the responsibility of property management in old residential areas that have not been handed over, establish a long-term mechanism, and do a good job in property services. Improve the emergency property service mechanism in old residential areas. (Responsible units: district committees and governments, municipal housing and urban-rural development commission, municipal development and reform commission, municipal finance bureau, municipal planning and natural resources commission, municipal urban management commission, municipal state-owned assets supervision and administration commission, municipal housing fund management center and relevant municipal state-owned enterprises)

  14. Deepen the reform of residential special maintenance funds. Adhere to the problem-oriented, accelerate the improvement of policies related to the management of residential special maintenance funds, focus on improving the basic data, improving the efficiency of use, improving storage methods, promoting the replenishment and renewal of maintenance funds, and further improve the management level of fund use. (Responsible units: Municipal Housing and Urban-Rural Development Committee, Municipal Finance Bureau, Municipal Planning and Natural Resources Committee, Municipal State-owned Assets Supervision and Administration Commission, and Municipal Housing Fund Management Center)

  15. Continue to do a good job of "handling complaints immediately" and "reporting for duty" to promote property management-related work. In accordance with the principle of "small things don’t go out of the community (village), big things don’t go out of the street (township), and difficult departments can report", we will improve the working mechanism of "handling complaints immediately" and urge and guide communities and property service enterprises to solve problems reflected by the masses in time. Give full play to the role of the "whistle-blowing report" working mechanism, set up a ledger and supervise the outstanding problems reflected by the masses for a long time; To study and solve the common and difficult problems in time. All districts should carry out special rectification on the problems of dirty, chaotic and poor environment and do a good job in classified management of domestic garbage in combination with the complaints about property management of the 12345 citizen service hotline; Strengthen comprehensive law enforcement against unauthorized construction, unauthorized installation of ground locks, and occupation of green space; Timely investigation and elimination of old pipelines, elevators, fire protection facilities and other security risks; Formulate the evaluation index system of street (township) to implement property management, and strengthen the assessment and supervision of street (township). (Responsible units: Municipal Housing and Urban-Rural Development Committee, Municipal Affairs Service Bureau, district committees and governments)

  16. Pilot projects to solve problems. Each district should focus on the difficult problems of property management, further screen pilot projects, give full play to initiative and creativity, explore new modes of property management, and improve the level of property services. (Responsible units: district committees and governments, Municipal Housing and Urban-Rural Development Committee, Municipal Party Committee Organization Department, Municipal Social Work Committee, Civil Affairs Bureau and other relevant departments)

  (VI) Comprehensively improve the information level of property management.

  17. Consolidate basic information. Collect, integrate and correct the information of residential houses, improve the basic information such as the number, area, number of households, year of completion and the establishment of maintenance funds in residential quarters, and enrich the management database of residential houses and residential quarters. (Responsible units: Municipal Housing and Urban-Rural Development Committee, Municipal Social Work Committee, Civil Affairs Bureau, and district committees and governments)

  18. Improve the information system. Make full use of information technology to strengthen property management, and build a property management information service system covering government management, housing information, owners’ information, enterprise credit, owners’ committee (property management committee) operation, maintenance fund management and other modules on the basis of the existing data platforms of housing urban and rural construction, planning natural resources, housing fund management and other departments, so as to realize hierarchical management, data sharing among departments and dynamic update. Further improve the function of "Beijing Owners’ Joint Decision-making Mobile Voting System" and increase the promotion and application. (Responsible units: Municipal Housing and Urban-Rural Development Committee, Municipal Finance Bureau, Municipal Economic and Information Bureau, Municipal Planning and Natural Resources Committee, Municipal Housing Fund Management Center, Municipal Social Work Committee Civil Affairs Bureau)

  Third, safeguard measures

  (1) Strengthen organizational leadership. All districts should strengthen the organization and leadership of property management, and the main leaders should personally grasp it, and combine this action plan with their respective responsibilities to formulate detailed measures to form a working mechanism for implementation at all levels; In accordance with the work requirements of empowerment, sinking and efficiency improvement, we should increase support for streets (towns) in terms of funds and personnel strength to ensure the smooth development of all work.

  (2) Actively reform and innovate. Encourage grassroots units to combine reality, take the initiative to explore practice, boldly reform and innovate, sum up and improve in time, and form a number of representative and replicable experiences to promote in the city.

  (3) Do a good job in publicity and training. Relevant departments should strengthen publicity and guidance, use all-media means, actively promote advanced models of property management, and create a good atmosphere; It is necessary to formulate a special training plan, establish a training system at different levels and in different fields, and strengthen policy guidance and training for property management staff, owners’ committees (property management committees) and property service enterprises, so as to make them play a better role and promote the implementation of the work.

New Year’s Eve has a strong flavor (going to the grassroots in the New Year and basking in my family’s New Year’s Eve)

  Editor’s note: New Year’s Eve carries the most sincere expectations and the strongest affection in a year. On this New Year’s Eve, in Wushi County, Xinjiang, the resident cadres who stuck to their posts ate pilaf; In Jiaozhou, Shandong Province, the father and son who got rid of poverty set new goals; In Mohe, Heilongjiang, tourists experience the culture of Northeast China in the Arctic Village. In Jiangjin, Chongqing, the New Year’s Eve dinner for poverty-stricken farmers is much richer than in previous years. In Zhuzhou, Hunan Province, villagers who moved from ex situ to help the poor had a reunion dinner in their new houses. In Huangpu District, Guangzhou, left-behind workers spend the New Year in a foreign land … … On the occasion of bidding farewell to the old year and welcoming the new year, this special and unforgettable New Year’s Eve dinner is a review and tribute to past efforts, and it is also a prospect and expectation for a new beginning.

  Race against time and keep pace with history. In 2020, we will build a well-off society in an all-round way; In 2020, it is also the year of decisive battle against poverty. Strugglers in the new era, let’s continue to unite as one and work hard to move forward rain or shine!

  Xinjiang Wushi Resident Task Force

  It’s so happy that the villagers are all out of poverty and staying in the village.

  Our reporter Yang Mingfang altak

  On the 24th, Lunar New Year’s Eve. In Kumbulong Village, Aotebeixi Township, Wushi County, Aksu Prefecture, Xinjiang, the flavor of the year is strong in the village committee courtyard.

  "Dinner!" Zhu Lidong, the general leader of the "Visiting Huiju" of the Forestry and Grassland Bureau of the Autonomous Region in Wushi County, the first secretary of Kumbulong Village and the captain of the resident team, has a loud voice and greets the team members to hurry to the table. During the Spring Festival this year, all 12 members of the task force stayed in the village for the New Year.

  A pot of pilaf and half a sheep, a pot of green tea makes a short story. "Everyone can’t go home for the New Year, so they have a reunion dinner in the village." Zhu Lidong served everyone a bowl of delicious hand-grabbed rice. What makes Zhu Lidong feel gratified is the change in the village. In recent years, the task force has helped villagers get rid of poverty and become rich by promoting the quality and efficiency of the forest and fruit industry, and the per capita annual income has increased from 9,000 yuan in 2017 to 13,000 yuan.

  After graduating from graduate school, Zhao Dachuan, a young man from Shandong Province, worked in the Forestry and Grass Bureau of the autonomous region and was sent to stay in the village. This is his third Spring Festival in the village. "As a poverty alleviation specialist, what makes me most happy is that at the end of 2019, 32 poor households in the village were all lifted out of poverty."

  There is a special little guest at the dinner table — — Team member Zhu Yuefeng’s 6-year-old daughter Zhu Yuxin. Zhu Yuxin said that after Dad came to the village, he became very busy, and sometimes he didn’t have time to video with her. "Mom took care of her little brother at home, so I came to accompany Dad!"

  After listening to Zhu Yuxin’s little friend’s words, Ainiwal Anshan, the vice captain of the task force, smiled lovingly. This year is the fifth year for Ainiwal to stay in the village. In the work in the village, what makes Ainiwal feel the most is the change in the village; What warms him most is the family-like atmosphere among the members working in the village. "The members come from three different nationalities, just like a family. We usually work together, regardless of you and me."

  "They left their homes and businesses to do good things for the people. We thank them from the bottom of our hearts." Aminah M Kadir, a local cook hired by the team, has been helping the team for almost five years. In her and the villagers’ hearts, the resident team members have already become relatives.

  This Spring Festival, not only Kumbulong village, but also more than 70,000 village cadres from 12,000 "visiting and gathering" teams in Xinjiang, most of them stick to their posts and look forward to handing over a satisfactory answer sheet in the year of decisive battle against poverty.

  Yang Wei ‘an and Yang Xiaoliang, Jiaozhou, Shandong Province

  Set a new goal for poverty alleviation New Year’s Eve.

  Our reporter Pan Junqiang

  On New Year’s Eve, every household in Songjiatun Village, Jiaolai Street, jiaozhou city City, Shandong Province, was happy with Spring Festival couplets and blessings.

  "Old man, take this dumpling out." The voice of his wife, Zhang Guirong, flew out of the house, full of anger. In the yard, Yang Wei ‘an was chatting with his neighbor. He answered, went into the main room and brought a whole set of dumplings with sorghum stalks into the side room. This is his family’s New Year’s Eve dinner. The old couple are over 70 years old and still healthy and tough.

  "Go, show you the new year’s goods prepared by my family." Zhang Guirong got up and pushed open the side door. The aroma was fragrant, fried yellow croaker, rice cake with dates, and Jiaodong big cake. She opened the refrigerator, chicken legs, dried rice, fish … … There are many kinds of patterns. "Before the Chinese New Year, it was difficult to eat a decent jiaozi." Zhang Guirong said. Nowadays, it is not only the Spring Festival couplets on her door that are booming, but also the better days. Four years ago, Yang Wei ‘an and his son Yang Xiaoliang got rid of poverty together. It was not easy to get back to poverty at the beginning, but now they are stable, have something to do and have a deposit. "Thanks to the help of the party and the government, we have a good day today." Yang Weian was filled with emotion.

  It was getting dark and my son Yang Xiaoliang came. My son separated after he got married, but it was less than 200 meters away from Yang Wei. On New Year’s Eve every year, Yang Xiaoliang’s family comes to spend the New Year with the old couple.

  On the New Year’s Eve dinner, the father and son sat on the kang, guarding jiaozi, and Yang Wei ‘an scalded the wine, chanting, "jiaozi drinks wine, and the more you eat, the more you have!"

  After half a bowl of wine, Yang Weian opened his mouth. Sixteen years ago, a car accident caused Yang Xiaoliang to suffer from a comminuted skull fracture, blindness in his left eye and disability. Parents are old, and Yang Xiaoliang can’t do heavy work. His daughter-in-law takes care of him and his children at home, and occasionally takes time out to do odd jobs to subsidize the family.

  The reason for the change is that Yang Xiaoliang wants her daughter to continue to study hard. The prostitute has been studying very well. "After high school, it is more expensive to pay tuition fees to buy materials than in primary and secondary schools." Yang Xiaoliang said that he thought about it for a long time and felt that raising sheep was the most suitable. "I have to thank the poverty alleviation cadres, help me apply for a poverty alleviation fund of 3,500 yuan, and buy a male, five mothers and six sheep. This is the seed of poverty alleviation; I have to thank the technicians of the animal husbandry and epidemic prevention departments for giving us free guidance. " Now, my daughter is in her senior year and has just taken the postgraduate exam.

  Now, there are more than 70 sheep at home. Yang Weian told Yang Xiaoliang that this year we will work harder to get rid of poverty and strive to get rich.

  Heilongjiang Mohe nonlocal tourists

  Meet in Beiji Village and Experience the Year of Northeast China.

  Our reporter Fang Yuan

  "Happy New Year! Give everyone a free New Year’s Eve dinner tonight! " On the morning of New Year’s Eve, in Arctic Village, Mohe City, Heilongjiang Province, he ye, the proprietress of the Youth Hostel’s Friends’ Home, set out. While introducing the activities in the evening to tourists, she filled the table with candy and nuts and handed out a few to everyone.

  It is the practice in the store to provide delicious New Year’s Eve dinner for everyone.

  Li Xiaoyun, a volunteer who helps in the store, is from Guangzhou. A month ago, she accidentally saw the information that the store was recruiting volunteers to be responsible for the reception at the front desk, so she went there with pleasure. Her job includes food and accommodation, and she can visit the Arctic Village after work. "I just want to experience the year here." She said that she experienced a lot of northeast folk customs this time, and she also learned to pack jiaozi with the proprietress.

  Stewed mushrooms with chicken, bumper harvest, pot-wrapped meat … … At 5 o’clock in the afternoon, the New Year’s Eve dinner was officially opened, and a series of delicious foods were served one after another. The atmosphere of 2008 allowed people who had never met each other to get to know each other quickly and come to raise your glass together.

  Hu Li, a tourist from Jiangsu, is the third time to come back to the Arctic Village. "I can’t play enough at once. The most important thing is that I really miss the food here." Said, and he picked up a frozen pear on the table, "this thing, we can’t eat it at all. Bite it down, it’s sweet and icy, and it tastes great! "

  Behind the good tourism experience is the efforts made by Mohe municipal government to optimize the tourism market.

  "Since December 20th last year, it is still hard to get a ticket to open a train from Harbin to Mohe every day. We set up a comprehensive administrative law enforcement brigade to make unannounced visits to scenic spots, find problems in advance and solve them well, and improve the comfort of tourism. " Feng Guangqing, Party Secretary and Director of Mohe Municipal Bureau of Culture, Sports, Radio, Film and Television and Tourism, said.

  During dinner, Hu Li discussed with his friends and went to other scenic spots in Heilongjiang in summer.

  "Let’s drink to the Arctic Village and have a happy New Year!" There was laughter in the room, and under the inky night sky, gorgeous fireworks lit up this tourist hotspot in the northernmost part of the motherland.

  Chongqing Jiangjin Poverty Alleviation Farmer Yang Wanliang

  Life is easy, and the annual meal is rich.

  Our reporter Liu Xinwu

  One yard, two houses. On one side is an adobe house, and the wooden door creaks when touched. On one side is a new house with white walls and black tiles, and the "New Year’s Eve" is here.

  As soon as the reporter entered the room, Yang Wanliang was enthusiastic, and oranges and sweets piled up on the table. The joy of the New Year is full of joy in Yang Wanliang’s face. "Now the days are better and the annual meal is richer!" Yang Wanliang dragged everyone around the house. There was a big barrel in the kitchen. When the lid was lifted, the bacon smelled delicious. In the vegetable garden, cabbage, radish and lettuce grow well.

  Braised pork is fragrant, boiled fish is fresh and tender, and lettuce leaves are green and appetizing … … This year’s dinner of Yang Wanliang’s family is much richer than in previous years.

  Piluo Village, where Yang Wanliang lives, is located in the south of Yongxing Town, jiangjin district, Chongqing, with high mountains and steep slopes. It was once a poor village at the municipal level, and 1/10 of them were poor households. Yang Wanliang was one of them. In order to help poor households increase their income, the village has formulated a "one household, one policy" assistance plan. At first, Yang Wanliang didn’t buy it, waiting for "relief". "Forget developing the industry, can you help me buy a mobile phone?"

  Help the poor first. Knowing the situation, Xu Yuanfeng, the first secretary in the village, intends to "stimulate" him and take him to visit poverty-stricken households. Seeing someone else’s new house, Yang Wanliang’s expression is somewhat complicated.

  After repeated persuasion, Yang Wanliang was determined to "do it". After careful comparison, he decided to raise chickens. The village helped him to contact and buy chicken seedlings, and asked experienced farmers to teach him by hand. Yang Wanliang raised 50 chickens in the first batch and got a grant. The agricultural cooperative helped him introduce buyers. With the help of policies, Yang Wanliang spent less than 20,000 yuan to build a new house. There are also public welfare posts in the village to help employment. In March 2019, he became a road cleaner with a monthly salary of more than 1,000 yuan. At the end of the year, Yang Wanliang calculated an account, earning 4,000 yuan from selling livestock and 10,000 yuan from sweeping the floor. Together with the income from selling chickens, he has earned more than 20,000 yuan in one year.

  In the second half of last year, Yang Wanliang got rid of poverty and took off his hat. In order to facilitate contact, he bought a smart phone and learned to use WeChat. "It’s so convenient, and you can video chat!"

  Villagers who moved in Zhuzhou, Hunan Province

  After eating this meal, it is a family.

  Our reporter Chen Yuanyuan.

  On New Year’s Eve, in the centralized resettlement site for ex situ poverty alleviation and relocation in Huachong Village, Longmen Town, Lukou District, Zhuzhou City, Hunan Province, villager Huang Yousheng had a special reunion dinner. Not only his family, but also his neighbors and village cadres had dinner.

  Referring to the change of living conditions, Huang Yousheng found out the photos of the old house. "My hometown is an adobe house, and the air leaks and the rain leaks." At the end of 2017, Huang Yousheng’s family moved into a new house at the resettlement site. "Now the house is big, and the income of the couple working together with poverty alleviation and dividends from the village industry is more than 50,000 yuan a year." Huang Yousheng’s neighbors are all villagers who moved from Huachong Village to help the poor. There are 8 households with 21 people, and now they have all got rid of poverty.

  Huang Yousheng’s father was seriously ill and his son was sick. The burden of life once overwhelmed him. "Now I am not poor. This year is a good year, and there will be more hope in the coming year."

  Into the resettlement site, hung red lanterns, brand-new Spring Festival couplets, put up a shed in front of the house, and put a brazier in the middle of the shed, which is warm and clean.

  In the greenhouse, the drama has begun. Jinghu solo, Flower Drum Opera, Pop Songs … … Wei Libin, a staff member of the literary squad of Zhuzhou Drama Heritage Center, performed six grounded programs with the team members in one breath. At the end of the performance, some villagers were not satisfied, so they simply went on stage and said a jingle: "The working team sent by the district was tired for poverty alleviation. They climbed high slopes in five years of cold and summer and tried their best to build a golden nest."

  The kitchen is next to the stage, and the local cookhouse squad with the best reputation personally cooks. I heard that it was a holiday for poor households. Master Fu Lima promised: "I have to cook this meal. Everyone comes from different places and eats this meal, which is a family." The menu design also shows the intention, symbolizing the "family portrait" of reunion and the deduction of meat … … 12 dishes, 8 banquets, everything is complete.

  Chen Xiangquan, an idle villager, came to help from another resettlement site early in the morning. In the past, Lao Chen earned less than 10 thousand yuan. "I am still young, how can I not live a good life?" Now, Lao Chengan raises and does business, earning nearly 80,000 yuan a year. When Mr. Chen was mentioned, everyone in the village gave a thumbs up.

  The new year breeds new hope. Wang Shuai, director of the Poverty Alleviation Office in Qikou District, said: "This year, we are heading for a well-off society in an all-round way, so that everyone’s life will flourish."

  Guangzhou Huangpu left-behind workers

  Stick to a foreign land on the construction site for the New Year.

  Our reporter Li Gang

  On New Year’s Eve, Pan Qingyu from Guilin, Guangxi, and more than 10 left-behind workers walked into the canteen of the construction site at the Nano Valley site of China Construction Railway Investment Rail Transit Company in Huangpu District, Guangzhou, Guangdong. At the age of 23, this year is the first time that he left his parents to spend the New Year in another country, so it is inevitable that he will miss home. But I am not lonely when I am talking and laughing with my workmates.

  According to Guangdong customs, on New Year’s Eve morning, Pan Qingyu put on new clothes and went to the nearby Guangzhou Knowledge City Flower Market with his workers. When in Rome, he did as the Romans do, chose a pot of azaleas, bought Spring Festival couplets and the word "Fu", went back to the construction site to carefully tidy up the dormitory, put up Spring Festival couplets and put flowers on it, and it was really the New Year.

  After the New Year’s dinner, the workers arrived, everyone gathered together, poured drinks and clinked glasses, and the atmosphere of the festival group year immediately came up.

  Unlike Pan Qingyu’s family’s new year’s big dish, today’s reunion dinner is just a pot of vegetables. A table is a pot, and a pot is a table. Not only he, but even Li Changbiao, the warehouse property manager who has worked outside for more than 30 years, has never seen this kind of New Year’s dinner. The most conspicuous thing in the "big pot dish" is a whole grouper, as well as big crabs, shrimps, boiled chicken, roasted goose, arrowhead mushrooms and tofu … … More than 10 hard dishes, put a big basin full of facts. This is the characteristic of the coastal areas of southern Guangdong, where one pot and one table are full, and through a pot full of layered dishes, it means reunion and wealth, hoping for a bumper harvest.

  Pan Qingyu told reporters that before the holiday, he had delivered the company’s Spring Festival gift package to his home, and bought a lot of new year’s goods online and sent them directly to his home, expressing his wishes to his parents through WeChat transfer.

  The New Year’s Eve dinner is indispensable in Guangdong, and everyone present has a share. Xiao Huajun and Wang Linhai, security guards from Ji ‘an, Jiangxi Province, were very happy to receive the red seal from the managers. Xiao Huajun said that he hasn’t received lucky money for many years, and this letter made him seem to have returned to his childhood.

  "Before the Chinese New Year, the company cancelled all kinds of dinners, but this meal for left-behind workers must not be saved." Hu Yangping, chairman of the labor union of China Construction Railway Rail Transit Company, said that the company’s development today was created by workers with their hands.

  Caption:

  Figure ①: Tourists enjoy the New Year’s Eve dinner in Arctic Village, Mohe, Heilongjiang.

  Photo by Li Xiaoyun (People’s Vision)

  Fig. 2: Members of the Xinjiang Forestry and Grassland Bureau’s team in Kumbulong Village, Aotebeixi Township, Wushi County, Aksu Prefecture gather to celebrate the Spring Festival.

  Our reporter Yang Mingfang photo

  Figure ③: Staff and children of poverty relief office in Lukou District, Zhuzhou City, Hunan Province make decorations for the Spring Festival.

  Figure ④: Village cadres and villagers are preparing for the New Year’s Eve dinner in the centralized resettlement site for ex situ poverty alleviation and relocation in Huachong Village, Longmen Town, Lukou District.

  Zhu Gangshe (People’s Vision)

  Layout design: Cai Huawei

Ministry of Finance: News of local government debt quota management department

Opinions on the implementation of quota management of local government debt
FB [2015] No.225

People’s governments of all provinces, autonomous regions, municipalities directly under the Central Government and cities under separate state planning:

In order to further standardize the management of local government debt, give full play to the positive role of government debt in promoting economic and social development, and prevent and resolve financial risks, according to the budget law, the State Council’s Opinions on Strengthening the Management of Local Government Debt (Guo Fa [2014] No.43) and the relevant requirements of the State Council’s proposal on submitting for deliberation and approval of the local government debt limit in 2015, with the consent of the State Council, we hereby put forward the following implementation opinions on the management of local government debt limit:

First, strengthen the management of local government debt limit.

(1) Reasonably determine the total debt limit of local governments. The local government debt balance shall be subject to quota management. The annual local government debt limit is equal to the local government debt limit of the previous year plus the new debt limit of the current year (or minus the reduced debt limit of the current year), which is divided into general debt limit and special debt limit.

The total local government debt limit is determined by the State Council according to the national macroeconomic situation and other factors, and reported to the National People’s Congress for approval. In the implementation of the annual budget, if the new limit of local government debt needs to be adjusted under the following special circumstances, the State Council will submit it to the National People’s Congress Standing Committee (NPCSC) for approval: when the downward pressure on the economy is great and a proactive fiscal policy needs to be implemented, the new debt limit of the year will be appropriately expanded; When the economic situation improves and it is necessary to implement a prudent fiscal policy or a moderately tight fiscal policy, the new debt limit in the current year will be appropriately reduced or the debt limit will be reasonably reduced on the basis of the previous year’s debt limit.

(2) Distribute the debt limits of local governments by region step by step. The government debt limits of all provinces, autonomous regions and municipalities directly under the Central Government shall be put forward by the Ministry of Finance within the total limit approved by the National People’s Congress or its Standing Committee, based on factors such as debt risk, financial situation and overall consideration of national macro-control policies and regional construction investment needs, and submitted to the State Council for approval before being issued to provincial financial departments.

The provincial financial department shall, in accordance with the quota issued by the Ministry of Finance, put forward suggestions on the debt arrangement of the local government, and prepare a budget adjustment plan, which shall be approved by the provincial government at the corresponding level; According to the debt risk, financial situation and other factors, and coordinating the local construction investment demand, the government debt limit of the province level and its cities and counties in the current year was put forward, and it was issued to the cities and counties after being approved by the provincial government. If it is really necessary for the municipal and county governments to borrow debts, they shall put forward plans for borrowing and using local government debts in the current year in accordance with the approved limits, include them in the budget adjustment plan, report them to the Standing Committee of the People’s Congress at the corresponding level for approval, report them to the provincial government for the record and borrow them on their behalf.

(3) Borrowing local government debts in strict accordance with the quota. The provincial finance department shall, within the approved local government debt limit, make overall consideration of the external debt lent by the central government, reasonably arrange the variety, structure, term and time of local government bonds, and do a good job in the issuance and payment of government bonds. The central and provincial financial departments report in writing the issuance and payment of local government bonds to the relevant special committees of the people’s congresses at the corresponding levels every six months. If the government debt needs to be included in the follow-up loans of projects under construction borrowed before the local government debt limit is issued in 2015, all localities will adjust their structures within the local government debt limit in 2015. In the future, the follow-up financing needs of projects under construction that need to be included in government debt will be considered as a whole when determining the annual new local government debt limit, and will be borrowed by issuing local government bonds according to law. The new contingent debts of local governments should be strictly limited to the scope of foreign debt lending guaranteed according to law, and bear relevant responsibilities according to the guarantee contract.

(4) Incorporate the classification of local government debts into budget management. Local governments should include all their government debts in the quota and classify them into budget management. Among them, the general debt is included in the general public budget management, and it is mainly repaid by the general public budget income. When the deficit cannot be reduced, the method of borrowing the new and returning the old can be adopted. Special debts are included in the budget management of government funds and repaid through corresponding government funds or special income; Government funds or special income are temporarily difficult to realize. If the land purchased and stored fails to be sold as planned, it can be returned by borrowing new and returning old, and the income will be returned after it is realized.

Two, establish and improve the local government debt risk prevention and control mechanism

(a) a comprehensive assessment and early warning of local government debt risks. Local governments at all levels should fully grasp the assets and liabilities, debt service, financial operation, etc., speed up the establishment of a comprehensive financial reporting system for the government, comprehensively assess the risk situation, track the risk changes, and effectively prevent risks. The central and provincial financial departments should strengthen the supervision of local government debt, timely analyze and evaluate the local government debt risk according to the debt rate, new debt rate, debt repayment rate, overdue debt rate, contingent debt compensation rate and other indicators, and conduct risk early warning for areas with high debt risk.

(2) Pay close attention to establishing a debt risk resolution and emergency response mechanism. The governments of all provinces, autonomous regions and municipalities directly under the Central Government should take overall responsibility for the prevention and control of local government debt risks, establish an incentive and restraint mechanism for debt risk resolution, and comprehensively organize debt risk resolution and emergency response. Local governments at all levels included in the scope of risk early warning should formulate medium-and long-term debt risk mitigation plans and emergency response plans, strictly control the debt increase, and raise funds through multiple channels to digest existing debts by controlling the project scale, reducing expenditures, disposing of assets, and introducing social capital, so as to gradually reduce the debt risk. When it is difficult for city and county governments to repay their debts by themselves, they should start the debt risk emergency response plan and report it in time; The provincial government should strengthen the guidance on the emergency disposal of the debt risk of the city and county governments, and urge them to effectively resolve the debt risk to ensure that regional and systemic risks do not occur.

(3) Improve the local government debt supervision and assessment accountability mechanism. Local governments at all levels should take the initiative to accept the supervision of the people’s congresses at the corresponding levels and the society, and regularly disclose the government debt limit, borrowing, use and repayment to the society. Local governments should follow the principle of marketization and strengthen market constraints in borrowing. The audit department should strengthen the supervision of debt audit according to law, and the financial department should strengthen the monitoring of local governments’ illegal borrowing and debt risks. It is necessary to incorporate government debt management as a hard indicator into the performance appraisal and strengthen the assessment of leading cadres of local governments. The main person in charge of the local government should be the first responsible person, and earnestly do a good job in the prevention and control of government debt risks at the same level. If the local government fails to prevent and resolve the risk of government debt, it should be interviewed and informed, and if necessary, it can be ordered to reduce or suspend the borrowing of new debts. Where the local government illegally borrows or guarantees, it shall be ordered to make corrections, and the relevant personnel shall be held accountable in accordance with the provisions of the budget law.

Third, properly handle the stock debt

(a) earnestly fulfill the responsibility of government debt repayment. For the stock debts of local governments that are included in the budget management after screening, which belong to public welfare projects, the local governments will make overall arrangements for the repayment of budget funds including bond funds, and can dispose of government assets when necessary; Belong to the non-public welfare project debt, by borrowing debt departments and units by reducing budgetary expenditures and other measures to repay, temporarily difficult to reduce the available financial funds in advance, and in the future annual departmental and unit budgets deducted. Cancel the government financing function of financing platform companies, promote the market-oriented transformation and restructuring of financing platform companies with operating income and cash flow, and support them through measures such as government and social capital cooperation (PPP) and government purchase of services.

For the part of local government stock debt borrowed by non-government bonds such as bank loans, the provincial financial department will arrange to issue local government bonds for replacement within the limit after a transition period of about three years. In order to avoid the impact of local competition on the market, the Ministry of Finance will organize and coordinate according to the debt maturity and debt risk, and continue to work with the People’s Bank of China, the China Banking Regulatory Commission and other relevant departments to conduct targeted underwriting and issuance of replacement bonds.

(2) Properly dispose of contingent liabilities according to law. The local government should properly handle the contingent debts that are responsible for the government’s guarantee or may be responsible for certain relief. For contingent debts that really need to be compensated according to law, the local government should incorporate the compensated funds into the budget management, and reserve the right of recourse to the original debt unit and relevant responsible parties according to law; Contingent debts that need to be converted into government debts due to changes in the nature of the original debt repayment funds due to changes in budget management methods shall be converted into government debts after being reported to the provincial government for approval without exceeding the limit; For the contingent debts guaranteed in violation of laws and regulations, the government, the debtor and the creditor shall negotiate together to revise the contract, clarify the responsibilities and terminate the guarantee relationship according to law. Local governments should reduce the quota space vacated by government debt balance through cooperation between government and social capital, and give priority to solving the above-mentioned contingent debt compensation or transformation problems.

All regions and departments should further unify their thinking and understanding, attach great importance to it, strictly implement the provisions of local government debt management, clarify the division of tasks and implement their work responsibilities in light of the actual situation of their regions and departments, actively study and solve new problems, sum up experiences and practices in a timely manner, strengthen the guidance of public opinion, give full play to the positive role of standardizing local government debt management in "stabilizing growth" and "preventing risks", and promote the implementation of various policies and measures in place.

the Ministry of Finance
December 21, 2015

Listed as an "explosion"! Titanium 3 went on the market, with a battery life of 501km and 133,800 cases.

At present, in the domestic new energy vehicle market, another SUV model with full personality has been listed. Recently, Equation Leopard Titanium 3 has quickly become the focus with its unique design style, and the key point is that the guide price range of this car is133,800-193,800, in terms of comprehensive product quality and price, it is indeed very competitive, and this car can unlock new ways of playing technology.

Equation Leopard Titanium 3 adopts the design style of hard-core mecha style. The closed black grille with parallel daytime running lights above is still highly recognizable, and the trapezoidal design surrounded by the new car and the silver decorative pieces on both sides add a bit of wildness. On the side of the car body, the front and rear wheel eyebrows are prominent, and the pop-up hidden door handle not only enhances the sense of technology, but also optimizes the wind resistance of the whole car. The silver decorative pieces and body lines at the side skirts also enhance the visual impact.

In terms of space, the length, width and height of the new car are 4605/1900/1720(1930) mm and the wheelbase is 2745 mm, but the compact body size creates a spacious interior space. It is worth mentioning that Titanium 3 offers 18-inch and 19-inch rims to meet the individual needs of different consumers. At the rear of the car, the slender taillights are arranged horizontally, and the rear enclosure echoes the front enclosure style. The two-stage spoiler increases the sense of movement. In addition, the height of the car equipped with Lingyi intelligent vehicle-mounted UAV system is increased by 210 mm compared with the conventional version, further highlighting its uniqueness.

Walking into the car, the interior of Equation Leopard Titanium 3 is also eye-catching. The center console is equipped with an 8.8-inch full LCD instrument (12.8-inch central control panel for the Pro version of rear-drive intelligent driving) and a 15.6-inch central control panel (12.8-inch for the Pro version of rear-drive intelligent driving), with clear display and smooth operation, which provides drivers with rich vehicle information and convenient control interface. The four-spoke steering wheel is novel in design. In addition to the common multi-function buttons, there are also wheels for driving mode and terrain mode below, which is convenient for drivers to switch quickly under different road conditions.

In terms of configuration, Equation Leopard Titanium 3 shows great sincerity. The whole system comes standard with BYD Eye of God C-DiPilot 100, equipped with 5 millimeter-wave radars and 12 ultrasonic radars (front 6 and rear 6) and other on-board sensors, which can support high-speed navigation and intelligent parking, and provide drivers with safe and convenient driving assistance.

In terms of power system design, Equation Leopard Titanium 3 provides single-motor version and dual-motor model, and two rear-drive models have 400-volt architecture, equipped with permanent magnet synchronous motors with a maximum power of 160 kW and a maximum charging power of 195 kW. Three four-wheel drive models adopt 800-volt architecture, equipped with AC asynchronous motor and permanent magnet synchronous motor respectively in front and rear, with a comprehensive power of 310 kW and the fastest acceleration time of 4.9 seconds per 100 km.

Equation Leopard Titanium 3 provides consumers with an attractive new energy SUV with its fierce design, rich intelligent configuration, diverse power options and reasonable price range. What do you think of this new equation leopard car with unique design?