Although not excellent, it can also reach the mainstream level of the same level. Let’s take a look at it together.

Let’s look at the appearance of Chuanqi E8 first. The front face of Chuanqi E8 is very unique and looks very sharp. Headlights are very fashionable and simple, in line with consumers’ aesthetics. The car is equipped with LED daytime running lights, automatic opening and closing, adaptive far and near light, delayed closing and so on. Coming to the side of the car, the body size of the car is 4920MM*1900MM*1760MM. The car adopts simple lines, which gives people a very avant-garde feeling. With large-sized thick-walled tires, the shape is eye-catching. Looking back, the rear of the car echoes the front face, the taillights look very fashionable and dynamic, and the overall look is very angular.

Sitting in the car, the interior looks very young and the whole looks very fashionable and sporty. The steering wheel of the car is well designed, and it is equipped with the functions of manual up and down+front and rear adjustment, which makes people love it. Take a look at the central control. The car is equipped with a touch-sensitive LCD central control screen, which makes the interior style impressive and gives people a sharp feeling. Finally, let’s take a look at the dashboard and seats. The car is equipped with a calm dashboard and its shape has taken the sports route. The car uses leather seats, which are wrapped in place and comfortable.

The car is equipped with car networking, driving mode selection, remote control key, rear wiper, traction control (ASR/TCS, etc.) and other configurations, which are rich in functions and greatly enhance its convenience of use.

After reading this car, I believe you have a general understanding. The car introduced today is remarkable in terms of space, configuration and power, and home travel is also a good helper.

Recently, the hot market transactions mainly focus on coal, artificial intelligence and storage. In the industrial trend, GPT-4 Turbo has been launched heavily, opening up new AI commercialization prospects; Intellectual S7 and Aouita 12 appeared, focusing on Huawei’s model to empower car companies. On the policy side, it is suggested to focus on data elements (government data, data confirmation, privacy calculation, data space); Regulatory resource pricing improvement (virtual power plant, energy storage).

Core view

[Market Trading Hotspots] The recent market trading hotspots mainly focus on coal, artificial intelligence and storage.Hot spot one: coal. On the policy side,The National Development and Reform Commission and the National Energy Administration issued a notice on establishing the electricity price mechanism of coal capacity.From the price point of view,In October, 35.992 million tons of coal were imported, a decrease of 6.148 million tons from the previous month and a significant decrease of 14.59% from the previous month.Judging from the price,The power coal price in Newcastle Port, Australia is US$ 103.3/ton, and the price difference between domestic and overseas is RMB 17.51/ton. The CIF price difference between Australia’s Fengjing coking coal is US$ 381.5/ton, and the price difference between domestic and overseas is -699.67/ton. The coking coal cost is upside down again, and the domestic price increase is relatively smooth.Hot spot 2: artificial intelligence.After the OpenAI model is upgraded and released, its ecosystem will be further established to promote the landing and development of AI-related applications.Hot spot 3: storage.High-end DDR5 and HBM are in short supply recently, and their prices continue to rise; At the same time, with the drastic reduction in production of the upstream original factory and the limited production capacity shifting to the production of high-end products, the prices of traditional models such as DDR4 are also rising, and NAND prices are expected to usher in an inflection point at 23Q4. On the other hand, Changjiang Storage sued Micron Technology Co., Ltd. and its wholly-owned subsidiary Micron Consumer Products Group Co., Ltd. for infringing its eight US patents on November 9.

[Global Industry Trends]Industry trend 1: GPT-4 Turbo is launched heavily, opening up new AI commercialization prospects.On November 6, local time, Open AI held its first developer conference in San Francisco. At the meeting, Open AI brought its upgraded GPT-4 Turbo model. The new version of GPT-4 Turbo supports a 128k context window and can input 300 pages of books at a time. The knowledge information was updated to April 2023, and visual ability, DALL·E 3 and speech synthesis API were added. At the same time, the price of the Turbo version of GPT-4 is lower than that of the original version, and the price of the input side is 1/3 and the output side is 1/2 of that of GPT-4. In addition, Open AI has introduced a function called GPTs, and users can build a GPT with exclusive skills just by communicating their needs through dialogue. OpenAI also released an agent-like application. Developers can use the Assistants API to execute specific instructions, read additional knowledge bases, call models and tools to complete tasks, and are equipped with tools such as code interpreter, retrieval and function call.Industry Trend 2: Intellectual S7 and Aouita 12 appeared, paying attention to the Huawei model to empower car companies.On November 7,Zhijie S7Officially open pre-sale. The first launch of Zhijie S7 is equipped with Huawei Turing intelligent chassis and HarmonyOS 4 intelligent cockpit, as well as HUAWEI ADS 2.0 advanced intelligent driver assistance system and other leading technologies. Smart car brand alliance-HarmonyOS Zhihui guildSynchronous release. On November 10th, Changan, Huawei and Contemporary Amperex Technology Co., Limited cooperated deeply.Aouita 12Officially listed. Aouita 12 comes standard with three lidar+HUAWEI ADS 2.0 advanced intelligent driving systems, and is equipped with an intelligent cockpit based on HarmonyOS 4. Huawei has become a leader in the field of smart cars, accelerating the empowerment of more car companies.

[Important policy tracking]】Last week, there were two important marginal changes on the policy side that deserve special attention:1. The data element policy side ushered in multiple catalysis:1) On the 13th, it was reported that the National Bureau of Data was studying and drafting relevant guidance documents, which would promote the construction of data transaction circulation system from the top design. In addition, the Director of the Data Bureau said that he is actively paying attention to the evolution of technologies related to data circulation (privacy computing, data space, etc.); 2) On the 9th, the Price Department of the National Development and Reform Commission and the National Data Bureau prepared three groups to hold a symposium, aiming at accelerating the establishment and improvement of the price formation mechanism of public data and promoting the opinions on the paid use of public data for digital development according to government guidance pricing; 3) On the 10th, Hengyang sold data resources and smart city franchise, with a starting price of 1.8 billion yuan, and data resources are expected to become a new starting point for local finance;2. The capacity price policy is expected to be implemented, and the pricing of regulatory resources is gradually strengthened:On the 10th, the "Notice on Establishing Coal Capacity Electricity Price Mechanism" was issued, which will greatly change the profit structure of coal enterprises. From the perspective of future policy expectations, the introduction of capacity electricity price policy shows that the pricing of regulatory resources is strengthening, and it is expected that policies such as pricing optimization and cost sharing of subsequent auxiliary services will be introduced. In summary, it is recommended to focus onData elements(government data, data confirmation, privacy calculation, data space);Regulatory resource pricing improvement(Virtual power plant, energy storage);

[Important information]SMIC: November 9,SMIC Hong Kong stocks released unaudited results in the third quarter of 2023, with revenue of $1.62 billion in 23Q3, which was-15% year-on-year/+3.9% quarter-on-quarter, which was in the guidance median; The gross profit margin was 19.8%, which was -19pcts/ -0.5pct, which was at the upper limit of the guideline. Because the equipment delivery exceeded expectations, Capex in 2023 was revised to 7.5 billion US dollars.Accord to that viewpoint of China merchants electronic,China’s industry inventory tends to be healthy. Looking forward to 2024, the demand for mature processes will increase due to destocking, but the growth momentum is limited. It is expected that the industry will recover in a Double-U(W) shape, and the prices of bulk standard products will continue to decrease.TSMC:On November 10th, TSM.US announced its revenue report for October 2023. Data show that TSMC’s consolidated revenue in October was NT$ 243.203 billion, up 34.8% from the previous month and 15.7% from the same period last year. This is the first year-on-year positive growth of TSMC’s monthly revenue since February this year, highlighting that the global chip market seems to be gradually recovering from the trough. Boosted by this news, TSMC’s US stocks closed up 6.35% on Friday, the biggest one-day gain since May.

[Concerns and suggestions on short-term industrial trends]From a short-term perspective, November needs to focus on five tracks with marginal improvement: integrated circuits (semiconductor equipment, semiconductor materials, storage), artificial intelligence, automotive intelligence, infrastructure (water conservancy), and digital economy (data elements, industrial digitalization).

[Concerns and suggestions on medium and long-term industrial trends]In the medium and long term, we suggest to pay attention to the industrial trends such as digital economy (data elements), artificial intelligence, self-control, etc. under the AI+ scientific and technological revolution, as well as the new technical route of carbon neutral industrial chain driven by cost reduction and efficiency increase, and the penetration rate of electric smart cars increases under the trend of electrification and intelligence.

[Global stock market performance]Last week, global stock markets rose more and fell less.In terms of industry,The industrial indexes with higher A-share gains are: Wonder Optical Module (CPO), Tik Tok Platform and Virtual Human.In terms of plates,The information technology, optional consumption and materials sectors performed well, while the energy sector performed poorly. Among the companies with a market value of more than $20 billion that rose sharply in the past week, information technology and alternative consumer industries are the majority; Among the companies with a market value of more than $20 billion that led the decline in the past week, companies in the health care industry are mostly.

[Risk warning] Macroeconomic fluctuations, subjective pre-judgment deviation, industrial development is less than expected.

Catalogue

01

Core concerns and investment suggestions

1. Prospect of this week’s important events

2. Hot market transactions

Last week, the key theme indexes of A-shares were Wonder Optical Module (CPO), Tik Tok Platform and Virtual Human.

Note: All the stocks involved in this paper are listed or represent the connection with relevant industrial chains, and do not represent the investment suggestions of individual stocks or the research viewpoints of China Merchants. Please refer to the recommendations of the research groups of China Merchants for specific stocks.

Market trading hotspots mainly focus on coal, artificial intelligence and storage:

coal

On the policy side,The National Development and Reform Commission and the National Energy Administration issued a notice on establishing the electricity price mechanism of coal capacity. The electricity price mechanism of coal capacity is suitable for public coal-fired generating units that are in compliance with the regulations.From the price point of view,In October, 35.992 million tons of coal were imported, a decrease of 6.148 million tons from the previous month and a significant decrease of 14.59% from the previous month, mainly due to the increase in energy prices brought about by the Palestinian-Israeli conflict.Judging from the price,The power coal price in Newcastle Port, Australia is US$ 103.3/ton, and the price difference between domestic and overseas is RMB 17.51/ton. The CIF price difference between Australia’s Fengjing coking coal is US$ 381.5/ton, and the price difference between domestic and overseas is -699.67/ton. The coking coal cost is upside down again, and the domestic price increase is relatively smooth. In addition, the issuance of 1 trillion treasury bonds and the bottom of Vanke have also brought a certain boost to metallurgical coal (double coke) mainly used for construction, so the double coke futures have continued to be strong recently.

artificial intelligence

OpenAI held the first developer conference, with the core contents as follows:1. In terms of model upgrading,GPT-4 comes out with Turbo version, which has better performance and 128K context window, and the cost is reduced by 2-3 times.2. in terms of assistant API,Developers can build an autonomous Agent with the function of accessing tools, and can automatically call code interpreter, search, function call and other functions.3. In terms of customizing GPTs,Without code, the user-defined GPT is created in natural language, which greatly improves the convenience for enterprises to build large-scale model applications.4. in the GPT store,Similar to APP store, you can make and upload all kinds of large model applications. On the whole, after the OpenAI model is upgraded and liberalized, its ecosystem will be further established to promote the landing and development of AI-related applications.

save

Accord to that viewpoint of China merchants electronic,High-end DDR5 and HBM are in short supply recently, and their prices continue to rise; At the same time, with the drastic reduction in production of the upstream original factory and the limited production capacity shifting to the production of high-end products, the prices of traditional models such as DDR4 are also rising, and NAND prices are expected to usher in an inflection point at 23Q4. On the other hand, Changjiang Storage sued Micron Technology Co., Ltd. and its wholly-owned subsidiary Micron Consumer Products Group Co., Ltd. for infringing its eight US patents on November 9. Changjiang Storage said in the patent infringement indictment that the lawsuit was to terminate Micron’s extensive and unauthorized use of Changjiang Storage’s patent innovation. Changjiang Storage is the largest 3D NAND Flash manufacturer in China. Changjiang Storage mentioned in the indictment that Micron used Changjiang Storage’s patented technology to resist competition from Changjiang Storage and gain and protect market share. The lawsuit aims to solve one aspect of the following problems: Micron tried to prevent competition and innovation by forcing Changjiang Storage to withdraw from the 3D NAND Flash market.

3. Changes in theme and industry trend: GPT-4 Turbo model is completely upgraded, and Huawei’s three modes of car manufacturing empower car companies.

(1)GPT-4 Turbo is launched heavily, opening up new AI commercialization prospects.

The stronger version of GPT-4 Turbo has been launched, which is both economical and practical. On November 6, local time, Open AI held its first developer conference in San Francisco. At the meeting, Open AI brought its upgraded GPT-4 Turbo model.The new version of GPT-4 Turbo updates the knowledge information to April 2023, and supports a 128k context window, which can input 300 pages of books at a time. OpenAI’s instruction tracking has been improved, and a new function called JSON Mode has been introduced to ensure that developers can make it easier for models to call JSON and XML content. At the same time, the seed (random seed value) parameter is added to realize repeatable output. In the next few weeks, the logprobs parameter will be added to see the most likely output probability distribution of the model. In terms of price, the price of GPT-4 Turbo input tokens is 1/3 of that of GPT-4 (1k tokens only costs 0.01 USD), and the price of output Tokens is 1/2 of that of GPT-4 (1k Tokens costs 0.03 USD). This shows that GPT-4 Turbo has stronger performance, cheaper price and lower development cost.

The re-launch of new products and new modes has expanded the development scope of AI applications, and AI commercialization is expected to land.AssistAgentts API is the first step for developers to build an agent-like experience in their own applications. (1)Assistants API innovatively introduces a persistent thread with infinite length to solve the limitation of context window. (2) Use knowledge outside the model to enhance the supporting retrieval function, such as proprietary domain data, product information or documents provided by users. (3) Expand the function of code interpreter. Write and run Python code in sandbox execution environment, generate graphs and charts, and handle files with various data and formats. (4) Update the function calling function and call multiple functions at one time, which improves the flexibility and efficiency of the API. In addition, GPT-4 Turbo has added visual ability, DALL·E3 and speech synthesis API. Support image input, automatically summarize image content and document content with images. It is expected that with the application development and scene expansion, the big model will be used as the entrance to many AI+ application fields such as AI+ office, AI+ games and AI+ education.

The launch of GPTs stores will encourage individuals and enterprises to make more extensive use of customized GPT and open up new commercial prospects.Everyone can build a GPT with exclusive skills by talking and chatting without programming. OpenAI is about to release GPTs stores, where users can easily create, share and make money. The exclusive GPT can be used not only as a pet consultant and design assistant, but also as an assistant for startup companies to meet the needs of different fields. By interacting with GPT Builder, users can easily build a dedicated GPT and share it with others. At the same time, OpenAI emphasizes screening harmful content through the new system to improve security. Generally speaking, the opening of GPTs store provides more space for personalized application of AI, breaks the traditional gap between users and models in the AI field, and also brings more flexible and innovative AI solutions for entrepreneurs and entrepreneurs.

(2) Zhijie S7 and Aouita 12 appeared, paying attention to the Huawei model to empower car companies.

Huawei’s smart car selection wisdom S7 opens pre-sale.On November 9, Huawei officially released the new strategy of smart travel solutions and launched the new ecosystem of Huawei’s smart car selection business in Shenzhen. At the press conference, Huawei announced that Zhijie S7 officially opened for pre-sale. Zhijie S7 is the first car in Huawei’s smart car selection business. It is jointly built by Huawei and Chery and produced on a brand-new platform built by Huawei’s full-stack smart car solution. Starting from the pre-sale price of 258,000 yuan, the brand-new family design is the same as that of the M9. The first launch is equipped with Huawei Turing intelligent chassis and HarmonyOS 4 intelligent cockpit, as well as HUAWEI ADS 2.0 advanced intelligent driving assistance system and other leading technologies, which will be officially released on November 28th. By November 10th, Zhijie S7 had more than 5,000 user orders within 15 hours of the pre-sale stage.

The intellectual S7 has many bright spots. (1) Intelligent S7 is equipped with HarmonyOS 4 intelligent cockpit for the first time.Adopt ark engine, bring a brand-new 3D car control desktop, and the control is more silky. Smart voice assistant xiaoyi accesses Pangu big model.(2) Launch Huawei Turing Intelligent Chassis.Perfect combination of intelligent control and mechanical adjustment, with maneuverability and comfort.(3) Equipped with a new generation of DriveONE 800V high-voltage silicon carbide gold power platform.It has stronger power and lower energy consumption. The total power of the four-wheel drive version is 365kW, the acceleration of 100 kilometers is only 3.3s, and the braking distance of 100 kilometers is only 33.5m m.(4) Equipped with HUAWEI ADS 2.0, a smarter high-order intelligent driving system.Start parking on behalf of the driver, realize over-the-horizon autonomous parking, can actively identify abnormal obstacles to avoid obstacles, easily deal with complex road conditions, and do not rely on high-precision maps.

At the press conference, HarmonyOS Zhihang, the brand alliance of intelligent car selection, was released simultaneously.HarmonyOS Zhixing can realize a more efficient and safer driving experience by integrating 5G technology, high-precision mapping and automatic driving technology. At the same time, the system can also support interoperability between different devices, and can be connected with other devices (such as mobile phones, tablets, smart homes, etc.) to realize information sharing.Besides, HarmonyOS Zhixing can be regarded as an extension of HarmonyOS operating system in the field of automobiles.HarmonyOS Zhixing is based on intelligent cockpit, intelligent driving and HarmonyOS car operating system, supplemented by other HarmonyOS application ecology. HarmonyOS Zhixing is not only a car system, but also an application of smart home, smart travel and smart office.

On November 10th, Aouita 12, which was deeply cooperated by Changan, Huawei and Contemporary Amperex Technology Co., Limited, was officially listed.After 36 hours on the market, the cumulative total will exceed 6700+. Aouita 12 is equipped with the drive motor provided by Huawei, and it can be powered by 230kW single motor and 425kW front and rear dual motors. The fastest acceleration time is 3.9 seconds and the cruising range is over 700 kilometers. The car is also equipped with Huawei iTRACK dynamic torque distribution system, which can scan the road environment with microsecond ultra-fine real-time road condition sensing technology, and realize millimeter-level torque fine-tuning when encountering complex road conditions such as speed bumps and low-attached roads. In terms of intelligent driving, Aouita 12 comes standard with three lidar+HUAWEI ADS 2.0 advanced intelligent driving systems, equipped with an intelligent cockpit based on HarmonyOS 4.

Huawei has become a leader in the field of smart cars, accelerating the empowerment of more car companies.With the hot sales of Smart S7 and Aouita, the market sentiment has been catalyzed, and Huawei’s three car-making modes (standardized parts mode, HI mode and smart car selection mode) will receive more and more attention. At the press conference on November 9, Huawei launched a unified ecological alliance of the smart car selection business, which includes the world, the intellectual community and other brands that will be launched in the future. In the future, Huawei’s cooperation with more car companies will help the continuous upgrading of intelligent driving of automobiles.

4. On the policy side: Hengyang will transfer the franchise rights related to data resources, and the capacity electricity price policy is expected to land.

Last week, there were two important marginal changes on the policy side that deserve special attention:1. The data element policy side ushered in multiple catalysis:1) On the 13th, it was reported that the National Bureau of Data was studying and drafting relevant guidance documents, which will promote the construction of data transaction circulation system from the top design. In addition, the Director of the Data Bureau said that he is actively paying attention to the evolution of technologies related to data circulation (privacy computing, data space, etc.); 2) On the 9th, the Price Department of the National Development and Reform Commission and the National Data Bureau prepared three groups to hold a symposium, aiming at accelerating the establishment and improvement of the price formation mechanism of public data and promoting the opinions on the paid use of public data for digital development according to government guidance pricing; 3) On the 10th, Hengyang sold data resources and smart city franchise, with a starting price of 1.8 billion yuan.Data resources are expected to become a new starting point for local finance;2. The capacity price policy is expected to be implemented, and the pricing of regulatory resources is gradually strengthened:On the 10th, the "Notice on Establishing Coal Capacity Electricity Price Mechanism" was issued, which will greatly change the profit structure of coal enterprises. From the perspective of future policy expectations, the introduction of capacity electricity price policy shows that the pricing of regulatory resources is strengthening, and it is expected that policies such as pricing optimization and cost sharing of subsequent auxiliary services will be introduced.

(1) Multiple catalysis of data factor policy, Hengyang transferred the franchise rights related to data resources.

The policy side of data elements ushered in multiple catalysis: 1) On November 13, according to the report of China Securities Journal, the National Data Bureau was studying and drafting relevant guidance documents, which would be designed from the top.Promote the construction of data transaction circulation system.In addition, the Director of the Data Bureau said that he is actively paying attention to the evolution of technologies related to data circulation.(hiddenPrivate computing, data space, etc.); 2) On November 9, the Price Department of the National Development and Reform Commission and the National Bureau of Data held a symposium to accelerate the establishment and improvement of the price formation mechanism of public data and promote the development of digital.Public dataOpinions on pricing and paid use according to government guidance; 3) On November 10th, Hengyang transferred data resources and smart city franchise, with a starting price of 1.8 billion yuan.Data resources are expected to become a new starting point for local finance..Therefore, it is suggested to continue to pay attention to investment opportunities related to data elements (government data, data confirmation, privacy computing, data space).

Hengyang sells data resources and smart city franchise rights, and data resources are expected to become a new starting point for local finance.On November 10th, the transaction announcement of Hengyang municipal government data resources and smart city franchise transfer project was released. According to the announcement, the transferee will obtain the franchise of data resources generated after the completion of Hengyang Smart City or other financial investment information systems. The return mechanism of the project is "user pays". During the franchise period, the franchisee can collect fees from users within the franchise scope as a return for project construction. The starting price of the project is about 1.8 billion yuan, and the deposit is about 300 million yuan. [1]

We believe that the transfer of data resources management rights has begun to partially replace the transfer of land use management rights, and it has become a new source of local government revenue, and it is even expected to become a new starting point for local finance.Observing the income of the two accounts in Hengyang City, it is found that the income of Hengyang government funds accounts for a high proportion of the two accounts. The main component of government funds is land transfer fees. However, observing the data of the middle finger, it is found that the land transaction amount in Hengyang City in the first half of this year was only 3.3 billion yuan, which was smaller than the 15.4 billion yuan in 2022. In the future, the transfer of data resource management rights is expected to become a new starting point for local finance.

The potential total size of the data asset market is in the order of trillions.As an important new kinetic energy to promote economic growth in the future, the data asset market has a potential total size of 10 trillion. Tang Qifeng, general manager of Shanghai Data Exchange, once mentioned that if data assets enter the table, it may create another 100 trillion yuan of new assets; Lu Yanchun, director of the price monitoring center of the National Development and Reform Commission, said that according to preliminary estimates, the scale of data element expenditure of enterprises nationwide is about 3.3 trillion yuan. If we consider derivative markets such as data asset evaluation, pledge and financing, the overall scale may exceed 30 trillion yuan [2]. In terms of data elements, according to the report of ICT Institute, by 2025, the market scale of data elements in China, which is composed of core data elements such as data collection, data cleaning, data labeling and data transaction, is expected to exceed 174.9 billion yuan and enter a high-speed development stage.

In the accelerated construction of the data circulation trading system, the value of data elements is expected to be released continuously.In December 2022, the "Twenty Data Articles" put forward the establishment of a classification and authorization system for public data, enterprise data and personal data, as well as the data property right system framework of data resource holding right, processing right and management right, and "separation of three powers". Since then, the specific rules have continued to fall, and the pace of policy introduction has obviously accelerated in the second half of this year. In August, the "Interim Provisions on Accounting Treatment Related to Enterprise Data Resources" policy was promulgated to guide the entry of enterprise data assets into the table; In September, China Asset Appraisal Association issued the Guiding Opinions on Data Asset Appraisal, and the detailed rules for data asset appraisal were issued. On October 25th, the National Data Bureau was established, which is responsible for coordinating and promoting the construction of basic data systems and coordinating the integration, sharing, development and utilization of data resources. With the introduction of various detailed rules and policies to support the development of data elements, the construction of data element market is expected to accelerate. Judging from the expectation of the follow-up policy, considering that the Interim Provisions on Accounting Treatment Related to Enterprise Data Resources will be implemented next year, the data confirmation policy is expected to be launched as soon as the end of the year.To sum up, it is suggested to continue to pay attention to the relevant investment opportunities of data elements (government data, data confirmation, privacy computing, data space).

(2) The capacity price policy is expected to be implemented, and the pricing of regulatory resources is gradually strengthened.

On November 10th, the National Development and Reform Commission and the Energy Bureau jointly issued the Notice on Establishing the Electricity Price Mechanism of Coal Capacity, and decided to adjust the current single electricity price of coal to two-part electricity price. Among them, the electricity price is formed through marketization, and the capacity price level is gradually adjusted according to the actual situation such as the progress of coal-fired power transformation. The "Notice" clarifies that the coal capacity electricity price policy shall be implemented for public coal-fired power units that are in compliance with the regulations, and the capacity electricity price shall be determined according to the method of recovering a certain proportion of fixed costs of coal-fired power units. Among them, the fixed cost of coal-fired power units used to calculate the capacity electricity price is subject to the national unified standard, which is 330 yuan per kilowatt per year; From 2024 to 2025, the proportion of fixed costs recovered by capacity electricity price in most places is about 30%, and some places with rapid transformation of coal-fired power functions are appropriately higher; From 2026, the proportion of fixed costs recovered by capacity electricity prices will be increased to not less than 50%. The electricity charge of coal capacity is included in the system operation cost, and is shared by industrial and commercial users according to the proportion of electricity consumption in that month every month. [3]We believe that the proposal of capacity price is of great significance, which will greatly change the profit structure of coal-fired power companies, significantly enhance the utility attributes of coal-fired power companies, and make the profit structure more stable.From the perspective of future policy expectations, the introduction of capacity electricity price policy shows that the pricing of regulatory resources is strengthening, and it is expected that policies such as pricing optimization and cost sharing of subsequent auxiliary services are expected to be further introduced.

Judging from the currently promulgated standards, the fixed cost recovery ratio of coal-fired power units in provinces with rapid coal-fired power transformation, such as Henan, Hunan, Sichuan, Yunnan and Chongqing, is about 50%, and the corresponding capacity electricity price is 165 yuan/kilowatt year; The recovery cost ratio of other provinces is 30%, and the corresponding capacity electricity price is in 100 yuan/kilowatt year.

After the second meeting of the Deep Reform Commission, the reform of the energy and power system was accelerated.The proposal of capacity price is of great significance, which will greatly change the profit structure of coal-fired power companies, and the utility attributes of coal-fired power companies will be significantly enhanced and the profit structure will be more stable. From the perspective of future policy expectations, the introduction of capacity electricity price policy shows that the pricing of regulatory resources is strengthening, and it is expected that policies such as pricing optimization and cost sharing of subsequent auxiliary services are expected to be further introduced.

5. Investment suggestions

November needs to focus on five tracks with marginal improvement:Integrated circuit (semiconductor equipment, semiconductor materials, storage), artificial intelligence, automobile intelligence, infrastructure (water conservancy), digital economy (data elements, industrial digitalization).

In the medium and long term, we suggest to pay attention to the industrial trends such as digital economy (data elements), artificial intelligence, self-control, etc. under the AI+ scientific and technological revolution, as well as the new technical route of carbon neutral industrial chain driven by cost reduction and efficiency increase, and the penetration rate of electric smart cars increases under the trend of electrification and intelligence.

02

Global Watch: Global Market Tracking

1. Performance of global stock market industry

Last week, global stock markets rose more and fell less, with information technology, optional consumption and materials sectors performing better and energy sectors performing poorly.

Specifically,US stocks rose more and fell less,Information technology and telecommunications services led the gains, while energy and public utilities led the declines. On November 3, the data of the October non-farm payrolls report released by the United States was less than expected. The market generally believed that this would make the Fed slow down the pace of raising interest rates or even cut interest rates, and the stock bond market rose accordingly.In terms of European stocks,Information technology and industrial sectors led the gains, while optional consumer sectors led the declines.In the British stock market,Information technology and industry sectors led the gains, while materials and daily consumption sectors performed poorly.In the Japanese stock market,The information technology and industrial sectors led the gains, while the financial sector led the declines. In terms of Hong Kong stocks, only medical care rose slightly, and many sectors such as materials, energy and real estate plummeted.A shares rose more and fell less.The information technology and real estate sectors led the gains, while the daily consumption and telecommunications services sectors led the declines.

2. Brief analysis of global powerful stocks and exotic stocks.

Among the companies with a market value of more than $20 billion that rose sharply in the past week, information technology and alternative consumer industries are the majority; Among the companies with a market value of more than $20 billion that led the decline in the past week, companies in the health care industry are mostly.

Brief analysis of abnormal shares

【Datadog】On November 7, Datadog, a cloud monitoring and analysis software company, announced its third-quarter financial report. According to the financial report, the company announced quarterly revenue of $547.5 million, a year-on-year increase of 25%, exceeding analysts’ expectations of about $520 million. This growth rate is basically consistent with the strong results in the second quarter. Adjusted earnings per share was 45 cents, which was also higher than analysts’ expectations of 34 cents, compared with 23 cents in the same period last year. Datadog also raised its annual revenue and profit expectations. The company currently expects the fourth quarter revenue range to be between $564 million and $568 million, and the annual revenue is expected to be about $2.1 billion. The two expected figures released by Datadog exceeded the average analyst expectations of $543.3 million and $2.06 billion.

【Trade Desk】Trade Desk provides a self-service platform to help advertisers and advertising agencies find and purchase digital advertising inventory (display, video, audio, native and social) programmatically on different devices (such as computers, smart phones, home digital and Internet TV), and use data to optimize the performance of purchased advertising impressions. This week, Trade Desk issued performance guidance, and the company expects Q4 revenue to be at least $580 million, far below the consensus forecast of analysts of $610 million. The company also expects the adjusted earnings before interest, tax, depreciation and amortization (EBITDA) of Q4 to be about $270 million, which is also less than the consensus forecast of analysts of $290 million.

03

Important information express

1. Domestic industrial policies and news

(1) Strategic emerging industries-promoting the concentration of state-owned capital in forward-looking strategic emerging industries (☆☆☆)

On November 11th, the Party Committee of the State-owned Assets Supervision and Administration Commission of the State Council held an enlarged meeting. The meeting stressed that it is necessary to do a good job in the state-owned capital operation budget of the state-owned central enterprise system at a high level, make clear the capital investment, make scientific plans, strengthen performance management, and formulate capital injection plans for key industries, key fields and core enterprises in combination with the layout and structural adjustment plan of the state-owned economy and the development strategy of central enterprises. We will promote the concentration of state-owned capital in important industries and key areas related to national security and the lifeline of the national economy, in industries related to the national economy and people’s livelihood, such as providing public services, building emergency response capabilities and public welfare, and in forward-looking strategic emerging industries, strictly enforce financial and economic discipline, urge enterprises to manage and make good use of budget funds in accordance with laws and regulations, and effectively improve the efficiency of funds. Guide central enterprises to deepen reform, strengthen supervision, combine the reform of state-owned enterprises with deepening and upgrading actions, clarify key supervision tasks, improve supervision system and mechanism, innovate supervision methods and means, promote the high-quality development of enterprises, effectively implement major national strategies and planning tasks, better meet the needs of building a modern infrastructure system, better safeguard national security, and better play the strategic supporting role of the state-owned economy.

(2) Automobile-Minister of Commerce Wang Wentao raised concerns about the EU’s anti-subsidy investigation on China’s electric vehicles and restrictions on China enterprises’ participation in the EU’s 5G construction (☆☆☆).

On November 10th, Minister of Commerce Wang Wentao met with European Commission Internal Market Commissioner Breton in Beijing. The two sides had a frank and in-depth exchange of views on China-EU economic and trade relations, electric vehicles, 5G and supply chain cooperation. Wang Wentao focused on the EU’s anti-subsidy investigation on China’s electric vehicles and restrictions on China enterprises’ participation in the EU’s 5G construction. He hoped that the EU would abide by WTO rules and the spirit of fair competition and create a fair, just and non-discriminatory environment for China-EU economic and trade cooperation. Brayton said that the EU attaches importance to EU-China economic and trade relations, and believes that although there are some differences between the two sides, mutually beneficial cooperation can still be carried out in many fields, and it is willing to strengthen communication with China and jointly build a stable and mutual trust supply chain.

(3) Coal-two departments: establish the electricity price mechanism of coal capacity (☆☆☆).

On November 10th, the National Development and Reform Commission and the National Energy Administration issued a notice on establishing the electricity price mechanism of coal capacity. The electricity price mechanism of coal capacity is suitable for public coal-fired generating units that are in compliance with the regulations. Coal-fired self-owned power plants, coal-fired generating units that do not meet the national planning, and coal-fired generating units that do not meet the national requirements for energy consumption, environmental protection and flexible adjustment, etc., do not implement the capacity price mechanism, and the details will be separately clarified by the National Energy Administration. The electricity price of coal capacity is determined according to the method of recovering a certain proportion of the fixed cost of coal-fired generator sets. Among them, the fixed cost of coal-fired power units used to calculate the capacity electricity price is subject to the national unified standard, which is 330 yuan per kilowatt per year; Based on the fixed cost ratio of capacity electricity price recovery, considering the needs of local power systems and the transformation of coal-fired power functions, it is determined that it will be about 30% in most places in 2024-2025, and it is about 50% in some places where the transformation of coal-fired power functions is faster. From 2026, the proportion of fixed costs recovered by capacity electricity prices will be raised to not less than 50%.

(4) Economic data-National Bureau of Statistics: China’s PPI decreased by 2.6% year-on-year in October, which was the same as the previous month; CPI decreased by 0.2% year-on-year and 0.1% quarter-on-quarter (☆☆☆).

On November 9, data from the National Bureau of Statistics showed that in October, the ex-factory price of industrial producers nationwide decreased by 2.6% year-on-year, which was the same as that of the previous month. The purchase price of industrial producers decreased by 3.7% year-on-year and increased by 0.2% quarter-on-quarter. From January to October, the ex-factory price of industrial producers decreased by 3.1% compared with the same period of last year, and the purchase price of industrial producers decreased by 3.6%.

The national consumer price dropped by 0.2% year-on-year. Among them, the city decreased by 0.1% and the rural area decreased by 0.5%; Food prices fell by 4.0% and non-food prices rose by 0.7%; Consumer goods prices fell by 1.1%, and service prices rose by 1.2%. From January to October, the national consumer price rose by 0.4% over the same period of last year.

(5) Semiconductor chip-Changjiang Storage, the largest flash memory chip manufacturer in China, sued Micron for patent infringement in the United States (☆☆☆).

According to a report by Cailian on November 11th, the reporter learned from the information released by the Northern District Court of California that Changjiang Storage sued Micron Technology Co., Ltd. and its wholly-owned subsidiary Micron Consumer Products Group Co., Ltd. on November 9th for infringing its eight American patents. Changjiang Storage said in the patent infringement indictment that the lawsuit was to terminate Micron’s extensive and unauthorized use of Changjiang Storage’s patent innovation. Changjiang Storage is the largest 3D NAND Flash manufacturer in China. Changjiang Storage mentioned in the indictment that Micron used Changjiang Storage’s patented technology to resist competition from Changjiang Storage and gain and protect market share. The lawsuit aims to solve one aspect of the following problems: Micron tried to prevent competition and innovation by forcing Changjiang Storage to withdraw from the 3D NAND Flash market.

(6) medical insurance-Shanghai take-out medicine pilot medical insurance payment (☆☆)

According to The Paper’s report on November 6th, relevant departments in Shanghai have contacted Hungry, Meituan platform to pilot the payment of medical insurance for Internet pharmacies, and dozens of pharmacies have been included. In Shanghai, you can order drugs with the words "medical insurance payment" through Meituan takeaway or hungry app. The page shows that you can pay from your personal electronic medical insurance card account. At present, only some pharmacies with the words "medical insurance payment" can use medical insurance. After the reporter’s experience, it was found that the price of the same drug will be different in pharmacies with the words "medical insurance payment" and pharmacies without the words. Generally speaking, those who can be paid by medical insurance are less at their own expense.

(7) Robot-Beijing Humanoid Robot Innovation Center Co., Ltd. was formally established in the Robot Innovation Industrial Park of Economic Development Zone (☆)

According to a report by Cailian on November 9, in the news, Beijing Humanoid Robot Innovation Center Co., Ltd. was formally established in the Robot Innovation Industrial Park in Economic Development Zone recently, and it is planned to carry out five key tasks, such as the prototype of universal humanoid robot and the universal large model of humanoid robot. This is the first provincial humanoid robot innovation center in China. Beijing Xiaomi Robot Technology Co., Ltd., Beijing Youbixuan Intelligent Robot Co., Ltd. and Beijing Jingcheng Electromechanical Industry Investment Co., Ltd. jointly hold shares.

(8) Capital market policy-The CSRC comprehensively revised the Regulations on On-site Inspection of Initial Public Offerings, and strengthened the "responsibility upon declaration" (☆)

On November 10th, the CSRC publicly solicited opinions on the Provisions on On-site Inspection of Initial Enterprises (Revised Draft for Comment). The CSRC has comprehensively revised the Inspection Regulations, mainly involving the following aspects: First, it has strengthened the "declaration means responsibility". Enforce stricter institutional constraints on the withdrawal of applications after inspection, repeated similar problems during inspection, and refusal to hinder inspection; The second is to standardize the inspection operation. Further clarify the specific procedures and requirements for overall planning before inspection, promotion during inspection and post-inspection treatment, unify inspection standards, and improve inspection standardization; The third is to adjust some expressions applicable to the approval system in the Inspection Regulations.

(9) Capital market policy-Shanghai and Shenzhen Stock Exchanges revised the refinancing guide to prevent the concept of "lofty" confusion from being suspected of violating the rules (☆☆)

On November 8 and 10, the Shanghai and Shenzhen Stock Exchanges revised a series of guidelines on trading business and self-regulation in view of the refinancing problem. Among them, shareholders who hold more than 5% of shares in a listed company, but whose shares are less than 5% due to refinancing and lending, are still bound by the corresponding rules according to the shareholding ratio after merger calculation, that is, they are not allowed to reduce their holdings in violation of regulations, not to conduct short-term transactions, and not to conduct margin financing and securities lending transactions with the shares of the listed company as the underlying securities. At the same time, in the periodic reports of listed companies, including shareholders holding more than 5%, as well as the top ten shareholders and top ten tradable shareholders, the number and proportion of shares lent through refinancing at the beginning and end of the report should be stated. This will further improve the transparency of information disclosure on the lending situation of major shareholders’ refinancing stocks.

(10) Intelligent driving-Shanghai: Pilot operation of self-driving buses at specific time and road sections in the central city (☆☆)

According to a report by Cailian on November 7, Shanghai has formed a rich scene of self-driving test roads, with a total of 926 roads and 1,800 kilometers opened, ranking first in the country in mileage. This year, it will further expand the road scene of automatic driving test in Pudong New Area, and provide a wider range and more scene test environments in Jinqiao and Pudong Airport. Continue to deepen the layout of intelligent networked vehicle test scenarios, explore the sustainable, reproducible and scalable commercialization path of autonomous driving, and accelerate the demonstration operation of intelligent networked vehicles on a large scale. Pilot operation of self-driving buses at specific time periods and road sections in the central city.

(11) Automobile-China Automobile Association: In October, the automobile sales volume was 2.853 million, up by 13.8% year-on-year (☆).

According to the report of Cailian on November 10th, the data of China Automobile Association showed that in October, the production and sales of automobiles were 2.891 million and 2.853 million respectively, with the output increasing by 1.5% from the previous month, while the sales volume decreased by 0.2% from the previous month, increasing by 11.2% and 13.8% respectively. Automobile production and sales hit a new high in the same period of the month after September. From January to October, the production and sales of automobiles were 24.016 million and 23.967 million respectively, up 8% and 9.1% year-on-year, respectively. The growth rate of production was 0.7 percentage points higher than that of January-September, and the growth rate of sales was 0.9 percentage points higher than that of January-September.

2. Foreign industrial policies and news

(1) Federal Reserve dynamics-Federal Reserve Chairman Powell: If appropriate, the Federal Reserve will not hesitate to raise interest rates (☆☆☆).

According to a report by Cailian on November 10th, Federal Reserve Chairman Powell said that the Federal Reserve would "continue to be cautious"; If appropriate, the Fed will not hesitate to raise interest rates; Pay attention to the risk that strong growth may undermine the process of slowing inflation, which may require monetary policy to respond; Inflation has dropped, but it is still far above the 2% target; Satisfied with the progress of inflation, but "there is still a long way to go"; The labor market is still tense, but it is moving towards a better balance; We expect GDP growth to slow down in the next few quarters, but it remains to be seen; Greater progress in inflation in the future may come from tight monetary policy, not just the improvement of supply side; The Federal Reserve will start the next framework review in the second half of 2024.

(2) Semiconductor chips-Both NVIDIA and Intel plan to launch improved AI chip NVIDIA products in China market or mass production at the end of the year (☆☆☆).

According to a report by Cailian on November 9th, it is reported that NVIDIA will launch three AI chips for the China market in response to the latest chip sales restriction in the United States. The document shows the detailed specifications of the products to be launched in NVIDIA, namely HGX H20, L20 PCle and L2 PCle, which are based on Hopper and Ada architecture in NVIDIA respectively. The sample delivery time is from November to December this year, and the mass production time is from December this year to January next year. A number of NVIDIA industrial chain companies confirmed the above news to reporters, and one of them told reporters that the three AI chip products are suitable for cloud training, cloud reasoning and edge reasoning respectively. However, the specific launch time has not been confirmed.

(3) VR/AR/MR-Meta and Tencent have reached a preliminary agreement to sell VR headsets in China (☆☆☆).

According to a report by Cailian on November 10th, Meta Platforms and Tencent have reached a preliminary agreement to sell a new VR headset with lower price in China. Tencent will start selling this VR headset from the end of 2024. It is a preliminary agreement at present, and the details may change. Meta will hold a higher proportion of equipment sales, and Tencent will occupy a larger share of content and service revenue, such as software subscription and game sales.

(4) Artificial Intelligence-OpenAI held the first developer conference to launch a user-defined version of ChatGPT(☆☆☆).

According to a report by Cailian on November 7, OpenAI now allows users to build a customized version of ChatGPT to complete specific personal and professional tasks, in order to beat competitors in the increasingly crowded market. OpenAI plans to launch a store where users can find GPT customized by other users and earn revenue through their own GPT. OpenAI said at the first developer conference that it will launch a preview version of the latest GPT-4 Turbo, which is a more powerful and faster version supporting the big language model.

(5) Crude oil-EIA: It is estimated that Brent price will be 83.99 USD/barrel in 2023 and WTI crude oil price will be 79.41 USD/barrel (☆).

According to a report by Cailian on November 8, EIA’s short-term energy outlook report shows that Brent price is expected to be 83.99 USD/barrel in 2023, compared with 84.09 USD/barrel previously expected. It is estimated that the Brent price will be 93.24 USD/barrel in 2024, compared with 94.91 USD/barrel previously. WTI crude oil price is estimated to be 79.41 USD/barrel in 2023, compared with 79.59 USD/barrel previously expected. WTI crude oil price is estimated to be 89.24 USD/barrel in 2024, compared with 90.91 USD/barrel previously.

(6) VR/AR/MR-Apple’s second generation Vision Pro head exposure: the internal code name Project Alaska will be released at the end of 2025 at the earliest (☆☆).

According to the science and technology innovation board Journal reported on November 11th, according to the technology media MacRumors, the internal code of the second-generation Vision Pro headset of Apple is Project Alaska, which retains the appearance features and button position of the previous generation, but the position of the speaker and the design of the fixing strap will be adjusted. The second generation Vision Pro is scheduled to enter the product verification and testing stage in 2025, and the expected release date is the end of 2025 or the beginning of 2026.

(7) Semiconductor Chip/mask aligner-ASML, a mask aligner giant in the Netherlands: By the end of 2023, the installed capacity of ASML plus measuring machines in mask aligner, China will be close to 1,400 (☆☆).

According to a report by Cailian on November 6th, Shen Bo, global senior vice president of Dutch mask aligner giant ASML and president of China, said that from 1988, the first machine was shipped to China, and by the end of 2023, the installed capacity of ASML in mask aligner, China, was close to 1,400. "In fact, our growth in China over the years is still very impressive. We have been constantly investing in this matter. " Recently, the United States announced the latest chip export control measures. Shen Bo said that the new measures are somewhat complicated and ASML is still studying its specific impact. "If we understand it at present, it will bring restrictions on export control to a few customers. From the perspective of quantity, based on the business volume of ASML in China this year, it will probably have an impact of 10-15% on our business next year, so it is generally good.

(8) Medicine-Novo Nordisk will invest 6 billion US dollars to expand the production capacity of the Danish factory (☆☆).

According to a report by Cailian on November 10th, Novo Nordisk said that it will invest more than 42 billion Danish kroner (about 6 billion US dollars) to expand its production facilities in Denmark from 2023 to produce the product portfolio of serious and chronic diseases at present and in the future. The company added that these construction projects will be gradually completed from the end of 2025 to 2029. Novo Nordisk said that this investment will create more capacity in the company’s global value chain, including the production and packaging of APIs, most of which will be used to increase the capacity of APIs. The company said in a statement: "This investment will improve the company’s ability to meet future market demand, including GLP-1 products."

(9) Medicine —— Eli Lilly’s diabetes drug is approved by FDA for adult weight loss (☆).

According to a report by Cailian on November 9, the US Food and Drug Administration (FDA) announced on Wednesday that it has approved Zepbound injection from Lilly Company for long-term weight management of adults, which is suitable for obese adults (with a BMI of 30 or higher) or overweight adults (with a BMI of 27 or higher) and at least one weight-related condition (such as hypertension, type II diabetes or high cholesterol). Telpotide is an active ingredient in Zepbound, which has been approved under the trade name of Mounjaro to help improve the blood sugar level of adults with type 2 diabetes.

(10) Artificial Intelligence-OpenAI introduces data partnership (☆☆)

According to a report by Cailian on November 10th, OpenAI said that the company introduced OpenAI data partnership, and we will cooperate with organizations to produce public and private data sets for training artificial intelligence models.

　　The four wheels of the Audi Q7 are supported by a carefully designed double wishbone structure with independent suspension, and the majority of the axles are made of aluminum. Steel springs and double-tube shock absorbers respond to the demands of driving sporty and super comfort, even on off-road roads. The sloping springs and shock absorbers reduce the overall height of the suspension, providing more interior space for the rear row.
　　The adaptive air suspension is optional. The combination of the air suspension and the electrically controlled damping system reflects the perfect combination of precise motion handling and outstanding driving comfort. The standard dynamic roll stabilization system effectively reduces the swing range of the body around the longitudinal axis.

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As a high-end business car built by Hongqi, the exterior design of the EH7 shows the perfect combination of refinement and atmosphere. The front face design adopts the family-style iconic straight waterfall air intake grille, and every line is full of power, highlighting the unique charm of the brand. The body lines are smooth, and the overall style presents a stable and luxurious business temperament. Whether it is the carving of details or the overall proportion, it shows Hongqi’s unique understanding of luxury cars.

As a luxury business car, the side design of the Hongqi EH7 is elegant and exquisite. The body size reaches 4980mm*1915mm*1490mm, and the wheelbase is up to 3000mm, creating a spacious and comfortable interior space. The smooth lines on the side of the car show the elegance of the Hongqi brand. The tire specification is 245/50 R18 in the front and 245/50 R18 in the rear. The exquisite wheel rim design not only enhances the driving stability, but also enhances the overall visual beauty.

In terms of interior, the Hongqi EH7 shows the brand’s attention to detail with its exquisite and luxurious style. The center console is equipped with a large 15.5-inch touch screen, which is smooth to operate and full of technology. It integrates convenient functions such as multimedia system, navigation, phone and air conditioning, so that users can grasp the information they need at any time. The steering wheel is made of fine-textured leather material, which provides a comfortable grip and supports manual up and down + front and rear adjustment to adapt to different driving needs.

In terms of seats, imitation leather and leather/fur materials are mixed and matched to provide a comfortable ride experience. The front seats are equipped with heating, ventilation and headrest speaker functions, so the driver can enjoy all-round comfort and convenience. The driver’s seat also has a power seat memory function to ensure that the driver can always find the most comfortable sitting position. The rear seats support proportional reclining, providing passengers with flexible storage and space utilization. These configurations reflect the careful design of the Hongqi EH7 for interior space and comfort.

The Hongqi EH7 is equipped with a powerful engine with a maximum power of 253 kW, providing ample power support. At the same time, the maximum torque of this engine reaches 450 Nm, ensuring excellent performance in various driving scenarios. This configuration makes the Hongqi EH7 perform well during driving, meeting the driver’s demand for efficiency and driving pleasure.

Summarizing the owner Autohome’s evaluation of the Hongqi EH7, he has a unique and personalized view of the appearance. He believes that the atmosphere and design uniqueness of the real car are impressive. Although the label change is a little regrettable, the recognition is still outstanding. However, he also pointed out the problem of the tail light design and the configuration of the flag light, and believes that some details can be further optimized. For those potential buyers who judge by pictures alone, he strongly recommends to experience the real car in person and feel the charm of this model.

　　China News Service, July 28, "Interim Measures for the Management of Online Booking Taxi Business Services" was announced today to clarify the legal status of online car-hailing. The "Measures" make it clear that online car-hailing platform companies shall reasonably determine the freight rate of online car-hailing, implement clear pricing, and provide passengers with corresponding taxi invoices.

　　In response to the business behavior of online car-hailing, the "Measures" point out that the online car-hailing platform company assumes the responsibility of the carrier and shall ensure the safety of operation and protect the legitimate rights and interests of passengers. It shall ensure that the vehicles providing services have legal operating qualifications, are in good technical condition, have reliable safety performance, and have relevant insurance for operating vehicles. It shall ensure that the vehicles providing services online are consistent with the vehicles actually providing services offline, and report the relevant information of the vehicle to the taxi administrative department where the service is located.

　　At the same time, the online car-hailing platform company shall ensure that the drivers providing services have legal professional qualifications, and sign various forms of employment contracts or agreements with the drivers in accordance with relevant laws and regulations, according to the characteristics of working hours and service frequency, etc., to clarify the rights and obligations of both parties. The online car-hailing platform company shall safeguard and protect the legitimate rights and interests of drivers, carry out pre-job training and daily education on relevant laws and regulations, professional ethics, service norms, safe operation, etc., to ensure that the drivers providing services online are consistent with the drivers actually providing services offline, and report the relevant information of the driver to the taxi administrative department where the service is located.

　　The "Interim Measures" emphasize that online ride-hailing platform companies should publish and determine the metering methods that comply with relevant national regulations, clarify service items and quality commitments, establish a service evaluation system and a passenger complaint handling system, and truthfully collect and record driver service information. When providing online ride-hailing services, provide driver names, photos, mobile phone numbers and service evaluation results, as well as vehicle license plates and other information.

　　Online ride-hailing platform companies shall not impede fair competition in the market, and shall not infringe upon the legitimate rights and interests of passengers and social public interests. They shall not engage in unfair price behaviors such as crowding out competitors or monopolizing the market, operating at a price lower than the cost, disrupting the normal market order, and harming the legitimate rights and interests of the state or other operators. They shall pay taxes according to law, purchase carrier liability insurance and other related insurance for passengers, and fully protect the rights and interests of passengers.

　　Online ride-hailing platform companies and drivers shall provide operating services in accordance with relevant national operating service standards, shall not dump passengers on the way or deliberately detour, shall not charge illegally, and shall not retaliate against passengers who report, complain about the quality of their services, or make unsatisfactory evaluations of their services.

　　The online ride-hailing platform company shall inform the purpose, method and scope of the collection and use of personal information of drivers, riders and passengers in a prominent manner through its service platform. Without the express consent of the information subject, the online ride-hailing platform company shall not use the aforementioned personal information for other business purposes. The collection of personal information of drivers, riders and passengers shall not exceed the scope necessary to provide online ride-hailing services.

　　Except for cooperating with state organs in exercising supervision and inspection powers or criminal investigation powers in accordance with the law, online ride-hailing platform companies shall not provide any third party with the names, contact information, home addresses, bank accounts or payment accounts, geographical locations, travel routes and other personal information of drivers, ride-hailing and passengers, and shall not disclose sensitive information related to national security such as geographical coordinates and geographical markers. After information leakage occurs, online ride-hailing platform companies shall promptly report to the relevant competent authorities and take timely and effective remedial measures.

　　The "Interim Measures" stressed that the network about the car platform company should comply with the relevant provisions of the national network and information security, the personal information collected and generated business data, should be stored and used in the Chinese mainland, the retention period of not less than 2 years, except as otherwise provided by laws and regulations, the above information and data shall not flow out.

　　No enterprise or individual shall provide information docking to vehicles and drivers who have not obtained legal qualifications to carry out online car-hailing business services. No online car-hailing business services shall be provided in the name of private passenger car sharing. Online car-hailing vehicles and drivers shall not provide operation services through online service platforms that have not obtained business licenses.

Yang Mi

The film "Baby," produced by Hou Hsiao-hsien, directed by Liu Jie and starring Yang Mi, premiered at the second Pingyao International Film Festival. In the film, Yang Mi plays Jiang Meng, an abandoned child with birth defects, and her subversive image and dialect performance are considered to be a display of her acting strength. On October 14, Yang Mi gave an exclusive interview with Liu Jie, the director of "Baby," detailing this special creative experience.

Unlike the cast and crew mode that Yang Mi was used to in the past, the shooting of "Baby" lasted for 9 months intermittently. In the middle of the shooting, under the name of "make-up", it was completely reshooted twice, and it was not really completed until the end of the third shooting. There was no script during the shooting process. Director Liu Jie took the actors to explore the state and relationship of the characters, completed the line creation on the spot, and asked Yang Mi to perform in Nanjing dialect.

In the process of such three runs-in, Yang Mi withstood the director’s repeated inspections of her performance, striving to achieve the most realistic state, and finally let Jiang Meng remove Yang Mi’s shadow. In the eyes of outsiders, it seems impossible for Yang Mi, a commercial star, to devote such time and energy to a movie, but in the creation of "Baby", Yang Mi can be said to have no reservations. According to Liu Jie, every time Yang Mi enters the group to shoot "Baby", he is ready to reshoot it later, and fully accepts the possibility of modifying his creative intentions, which makes him feel very warm.

Many people think that Yang Mi took over the role of "Baby" to subvert the beautiful image of the past, in order to gain public recognition in terms of acting and achieve transformation, but Yang Mi said that he did not think so much, and he never forced any role, "I am super passive. You let me take the initiative to fight? I don’t, the posture is not good-looking."

Never take the initiative to fight for the role, such a posture is not good-looking

Did Yang Mi take the initiative to win the role in "Baby"?

Liu Jie: When we chatted, I really don’t remember who suggested that we should make a play together. I actually didn’t think she would agree, because I presupposed a situation at the time. I said that if we made a play together, I don’t have a script, and I don’t like to discuss it with the actors, because if there is a script, the actors will design the characters and will break up with me.

The next day, her agent called me and said, I heard that you had a good chat with Power Mi, and if there is a chance to work together. So it’s actually pretty good, and that’s the truth.

Was there already a "Baby" project at that time?

Liu Jie: I have an idea. I have a five-page outline, and I have maintained this five-page outline ever since.

: Yang Mi has played such roles less often before, is there less opportunity to find you in the first place? Or did you not take the initiative to find such a role yourself?

Liu Jie: She is not an active person.

Yang Mi: I’m super passive.

Liu Jie: Yes, she is actually quite the kind of strength of a Beijing girl, and it doesn’t matter what, but once I agree to this job, you can let me do anything.

Yang Mi: Yes, I will do the work for you, but you let me take the initiative to fight for it, I don’t, I don’t think I want it, it’s not good-looking, and my posture is not good.

As an actor, you may want to try and challenge such a role. Don’t you have such an idea?

Yang Mi: If you have it, you can have it. If you don’t, forget it.

: Don’t force it, do you?

Yang Mi: Yes.

Is there an age group where, at the age of 30, you want to make a change as an actor?

Yang Mi: I didn’t think so much.

No script, repeatedly grinding out character relationships and lines

: Last time you played the blind man in "I am a Witness", you went to contact the blind man. Have you contacted orphans like Jiang Meng this time?

Yang Mi: I went to the welfare home with the director, and also went to the ICU ward of the maternity hospital.

Liu Jie: Yes, they are all children who are struggling to survive.

Yang Mi: It’s still very touching. There are dozens of incubators in a room. They all have names attached to them, and children with various symptoms.

: "Baby" only has an outline and no script. How was the scene filmed?

Yang Mi: Nothing.

Liu Jie: Just force her to react, tell her what the situation is, what it is, and then what she will say, and then she will say, "What will I say," I said, "This is what you want to say, is it what Jiang Meng wants to say?"

Yang Mi: Even when I was playing opposite scenes, I didn’t know what kind of relationship I had with my opponent. For example, I didn’t know what kind of relationship they had with my mother.

Liu Jie: They all came out slowly.

Yang Mi: We played all kinds of rival plays, such as dismantling the wall panels, and we dismantled them many times. Today, we dismantled the boards again, and the boards were nailed on again. Why did you nail them and dismantle them again?

: In the end, whether it is the relationship or the lines, who will make this decision in the end?

Yang Mi: The director makes the decision.

Liu Jie: Running in, grinding a little bit.

Yang Mi: It’s still your decision.

Liu Jie: No, I’m judging by the side.

Are there some lines that Yang Mi came up with himself?

Liu Jie: Yes, there must be. I really don’t remember, we took a lot of pictures.

Yang Mi: I took a lot of footage, a lot of footage.

Liu Jie: Let’s talk about it alone, that is to say, she has filmed at least 250 to 300 scenes.

Yang Mi: You have to ask me which sentence in this play impresses me the most, which is (in Nanjing dialect) "why is it not cured", "I am from Nanjing Drum Tower Hospital", these two sentences appear the most frequently.

Nanjing dialect was only said to be learned after entering the group. Did you find a teacher?

Liu Jie: Yes.

Yang Mi: The teacher takes me to and from get off work every day and chats online 24 hours a day.

Liu Jie: Yes, give her a local radio program in Nanjing and practice every day.

Yang Mi: I listen to it every day, I listen when I go back, I have been listening, I have been listening.

Does the director have a grasp of Nanjing dialect?

Yang Mi: No, he really has no talent for languages.

Liu Jie: No. Let the Nanjing people judge and ask them if they can accept it? I will let them judge harshly. Except for the three starring stars, the others are all Nanjing people.

Yang Mi: I have been learning from them, asking my mother how to say this sentence in Nanjing dialect, etc. Sometimes the director will say a few words to us in Nanjing dialect on a whim.

Liu Jie: I’m in a hurry to demonstrate.

Remake twice, try to remove Yang Mi’s shadow

How long does it take to shoot like this?

Yang Mi: The first three months.

Liu Jie: 75 days.

Yang Mi: Three months for the first time, two months for the second time.

Liu Jie: No, the second time in a month.

Yang Mi: 40 days.

Liu Jie: No, 30 days.

Yang Mi: You are bargaining with me for the third time in a week.

: Three times? Is this the middle where the crew stopped and then came back?

Yang Mi: It didn’t stop for a while.

Liu Jie: Stopped for half a year.

Yang Mi: The first time was a serious shoot. We had a shoot, and the director said I might make up for it.

Liu Jie: After all, the director is a liar.

Yang Mi: As a result, I made up another whole play.

Did you reshoot it?

Yang Mi: Yes.

Did the director work this way before? I don’t remember.

Liu Jie: Yes, I used to have a good reputation.

Then he made up a third shot?

Liu Jie: Yes, we should have taken two and a half shots of the content of the five pages from mid-March to the end of May.

What was the reason for your dissatisfaction the first time?

Liu Jie: I think it’s what everyone is looking for, that thing is not the ultimate state of our seriousness, because what? In fact, in my opinion, all these people may not be in the same story, not in the same life, nor in the same channel, including looking for the feeling of the characters, looking for the texture of life, how to let Jiang Meng remove Yang Mi’s shadow. We were very determined from the beginning, that is, we should not see Yang Mi’s shadow in this person.

So we have to work hard to get rid of her own things and change everything. After a month of running in, I told everyone very passionately that we would officially start filming tomorrow, so I reshooted it. In fact, she was a little nervous at that time, but she still thought it should be over, because it was all agreed, and the original agreement was 75 days.

After that, I think she was also very happy. The whole group had a shut-down meal together, and then said goodbye to everyone. I said a word, because she also asked me, Are you satisfied with the director? I said go back and cut it, and I said there might be a little make-up.

Yang Mi: To reshoot is to reshoot a play.

How do you keep her coming back like this?

Liu Jie: Grind it, grind it slowly with the agent, from two days to a month.

What does Yang Mi think of himself?

Yang Mi: I have never had a concept of time.

Liu Jie: She doesn’t know, she has no concept.

Yang Mi: Wherever you ask me to be, I will be there.

(Yang Mi’s agent added: Her state is that the director said she wanted to come back to shoot, and she said yes, her wish is to go back to shoot. And our state is that the director wants two days or three days, and the director said it may not be enough. We thought that six days at most should be enough, but we ended up shooting for a month. Just for this, we arranged other things.)

Liu Jie: In fact, she was a little anxious when she first came back, but she was still worried. When she came back, she asked me, what is the announcement tomorrow? I said you just came and haven’t seen each other for half a year. You can rest first, it’s okay, slowly find some state, don’t worry, she said no, what if you have a lot of rows?

We only shoot when we are in a state, very casual, no state, if we don’t understand, we don’t shoot, and we call it a day. But in fact, it was really a good opportunity in the end. After more than 9 months of this kind of character experience, indoctrination, and brainwashing. When she comes back, it will be a miraculous return. I think she is pleasing to the eye no matter what, but Jiang Meng.

So it went well later. During that month, she worked very intensely for 17 days and was very concentrated. She should have been sick for two or three days. We were quite cruel. When she was sick, I thought she was in good condition.

Yang Mi: He said that you play best when you are sick.

Which scenes did she get sick in?

Liu Jie: When she learned that the mother had given up her child, she silently walked to the street and sat on the side of the street waiting for Xiaojun to pick her up.

Yang Mi: Was it a fever or gastroenteritis that day?

Liu Jie: The fever is 39 degrees, do you know? The mood is right, the physical state must be particularly responsive, she is very tired and very tired.

After the third shoot, you finally feel settled?

Liu Jie: In March this year, we had the third finishing banquet. Power Mi was very good. She was very nice to everyone in the production team. She toasted everyone goodbye and told everyone that we would meet again. She said that the director was unreliable, and we would definitely shoot for the fourth time. I can only listen, okay. So you know, this is the warmest thing I’ve heard, which proves that she approves and is willing to accompany the director to shoot for the fourth time.

After the first shoot, if she turned around and left, then I thought, forget it, she won’t come again, because after all, our contract is over, but if she said goodbye every time, we will see each other. Then I thought, okay, I can do it again. I think this is so heartwarming.

In the next few months, I went back to Nanjing several times. As soon as I went back to Nanjing, I would send a Moments, and she would ask me, what are you doing?

Yang Mi: I asked him, are you here to see the scenery again?

Liu Jie: Because we have also changed actors among us, and the main roles have been changed.

Yang Mi: Not me, except me.

Liu Jie: I sometimes tease her and put pressure on her, saying that if you don’t play well, you will be replaced.

Yang Mi: I say you change it.

Liu Jie: She saw that I was back in Nanjing, so I thought she might be thinking that I reshooted her and replaced her, just to make a joke with her.

Constantly beaten, but extremely tenacious

Is your performance more about mobilizing your own life experience and observation? Or is it about input and experience?

Yang Mi: It’s the real thing. If there is nothing made, it will be cut.

Liu Jie: Yes, my biggest blow to her at the scene was that "you are still acting, you are still acting, I didn’t feel it, you are still acting", which is actually quite cruel.

Hearing this, will you break down?

Yang Mi: If you don’t collapse, then come again.

The mentality is still very good.

Liu Jie: Tenacious, she is particularly tenacious.

Yang Mi: I am extremely tenacious.

: In addition to plain makeup, there are also many freckles on the face?

Liu Jie: She is not without makeup, but directly smeared the color of shoe polish on her face and made freckles all over her face. We didn’t do it on purpose, we found a basis for life. People like Jiang Meng who have bad endocrine…

Yang Mi: The state will be fed back on the face.

Liu Jie: This kind of child with congenital problems is also prone to freckles and birthmarks.

: Yang Mi said before that some directors don’t talk about drama when they are filming. Director Liu Jie should be the kind who talks about drama, right?

Liu Jie: It’s a lot to talk about. I never told her how to act, I would tell her what the character’s psychology would be like, just the psychology.

Yang Mi: If you overturn it after you finish talking about it, he will overturn what he said. I would think, how is it different from what you said last time? All the scenes you see are basically the ones we shot more than twice. Every shot is different from what we said last time. Which scene is this? Huh? Has this scene moved here? It’s all like this, and there are surprises every day when you come to the scene.

For you, this entire performance was a unique experience.

Yang Mi: The rest of the cast won’t have time for you to grind like this. What impressed me the most was that the house where my mother and I lived had a pond, and the landlord kept a few ducklings. When we first went to shoot the first year, it was a chirping flock of ducklings in a small box. The second time I went to see it, there were only a few big ducklings left. The third time I went to shoot, the ducklings were gone.

Liu Jie: They have all become salted ducks.

This article is an exclusive manuscript. It is prohibited to reprint it in any form without authorization, otherwise legal responsibility will be pursued.

　　Investigation motive

　　"I still can’t figure out why I will be diagnosed with liver cancer." Recently, a online celebrity blogger posted a video of 7 minutes and 52 seconds on social platforms, claiming that he was only 25 years old and was diagnosed with liver cancer. In the video, he introduced in detail the information such as "liver cancer was detected during physical examination" and "the doctor told me that the chance of cure is not great". Once the video was released, related topics quickly rushed to the hot search list.

　　However, just as everyone expressed their regret and concern and encouraged him to "treat him well", things turned upside down — — Some netizens noticed the last flash of the video, and the subtitle showed that "the content of this video is purely fictitious". This made many netizens extremely angry, denouncing it as the traffic has no bottom line, and some netizens said, "Do you know that I saw my last mood as a patient with cancer?"

　　Finally, the online celebrity blogger made an apology. At present, the blogger has violated the platform community convention, and his account has been banned in stages, banned from being concerned, and suspended from advertising revenue.

　　On the network platform, how many people sell miserable drainage like the above-mentioned online celebrity bloggers? How to rectify the unscrupulous drainage behavior? The reporter conducted an investigation and interview for this purpose.

　　□ Our reporter Han Dandong

　　□ Intern of this newspaper Wang Yitian

　　"From sympathy to anger, it’s like riding an emotional roller coaster." A netizen commented on "online celebrity bloggers sent videos claiming to be diagnosed with liver cancer". Many netizens said that online celebrity’s explanation that "my initial intention in doing this issue was to attract people’s attention to my body" was unacceptable, saying that there was no need to find some high-sounding reasons.

　　"Just to drain." An industry insider who is engaged in online celebrity incubation recently said in an interview with the reporter of Rule of Law Daily that if it is really for the purpose of prompting health, it should be made clear at the beginning, but the blogger in online celebrity chose to mention "The content of this video is pure fiction" at the end of the video, and it was not explained in the copy.

　　The insider told reporters that in reality, some network anchors and bloggers use the sympathy and empathy of netizens to achieve rapid drainage and powder increase in a miserable way, and then realize cash. There are even some institutions that specialize in incubating this "man-made" online celebrity, and then make profits by receiving advertisements, setting up commodity purchase links, and live broadcasting with goods.

　　In fact, from the effect point of view, the above-mentioned online celebrity bloggers’ miserable selling videos have indeed achieved the purpose of drainage. In just one day, the blogger’s fans have reached more than 5.5 million, and the related videos have played more than 20 million, while his previous videos have played more than 3 million.

　　A number of interviewed experts said that behaviors such as selling miserable drainage, consuming sympathy, and taking advantage of suffering to make money have emerged in an endless stream on the online platform. The fabricated selling miserable "people set up" can’t stand the test, which violates social public order and good customs, and also violates relevant laws and network norms. Making profits by fabricating stories may also constitute criminal crimes such as fraud, and it is necessary to intensify the rectification of such chaos.

　　First, the auction was badly drained.

　　Then live broadcast with goods for profit.

　　"I failed to start a business for four years, and I will cancel my company tomorrow, and millions of people will hit Shui Piao." "I suddenly encountered family changes, and now I have cancer, and now I am heavily in debt." "Please help me, I just turned 20, and I was diagnosed with cancer." "My parents died when I was a child, and I dropped out of school to work at the age of 14" … …

　　The reporter noticed that at present, there are still many anchors and bloggers telling their sufferings to the camera on major short video platforms. Some people are dressed in rags, some people are sweating with manual labor, and some people are crying. These short videos can often arouse the sympathy of a large number of netizens, with a high number of hits, and the number of fans of anchors and bloggers is also growing rapidly.

　　For example, a blogger on a certain platform, whose previous works were mainly videos of major talent markets and recruitment markets, had only a few thousand broadcasts. Then, after releasing the video that I failed to start my own business and found out that I was suffering from oral cancer, the broadcast volume rose rapidly, exceeding 2 million.

　　It’s really hard to tell whether these videos are true or not. Some netizens left a message under these videos: I was touched, I hope I am not spending sympathy. Some netizens suddenly realized after seeing the blogger start live broadcast with the goods: so that’s it.

　　The reporter combed and found that it is not uncommon for fictional facts to sell miserably and then realize the realization of goods.

　　In a video, the protagonist is a white-haired old man with dark skin and wrinkled face. His hands are trembling and folded on his chest, and he choked and said, "I am 80 years old. What should I do if pomegranate can’t be sold?" The copy of the video is "This grandfather asked me to help him sell pomegranate, but I can’t sell it for 3 kg and 9.9 packages"; In another video, the same dubbing, sad music, a vicissitudes of life of the old man carrying two buckets of water staggered past, behind a pomegranate tree.

　　After verification, the above two videos were all posed. The pomegranate in the former old man’s house was sold out at that time, and the old man who carried water didn’t grow pomegranate at home. Facing the door-to-door law enforcement officers, video publisher Qiu Moumou said that this is to gain sympathy and attract attention to sell goods. Finally, law enforcement officers criticized and educated Qiu Moumou, and Qiu Moumou also expressed remorse for publishing false videos.

　　What’s more, under the banner of "helping the poor", through fictional life scenes, exaggerating and fictional poverty can achieve the purpose of attracting eyeballs and attracting fans, so as to live broadcast goods for profit. In 2021, the police in Liangshan Prefecture, Sichuan Province disclosed such a case: The "Korean Team" fictionalized the miserable life experience of Ajia, a little girl in Liangshan, who had no father or mother and could not afford to go to school, and then sold the apples produced by poor villagers. The so-called self-produced apples are all wholesale in the market.

　　In the end, members of the "Korean Team" were given administrative punishment, and the planner Zhao Moumou was administratively detained for 7 days according to law.

　　There are also bloggers who released videos that sold badly and defrauded money after gaining sympathy from fans, and were finally sentenced to fixed-term imprisonment for fraud.

　　Remediation of selling misery and draining chaos

　　Punish according to law and contract

　　According to Zhu Wei, deputy director of the Communication Law Research Center of China University of Political Science and Law, online celebrity belongs to the category of public figures. Judging from some court decisions, the personality rights of public figures are restricted to some extent. online celebrity has a large number of fans, and his expression should bear a higher duty of care than ordinary people, which comes from both the moral level and the legal level.

　　"In today’s developed network communication, some online celebrity have millions of fans, and the benefits of a live broadcast are very considerable. Online celebrity’s words and deeds may cause netizens to imitate, discuss and discuss, so he must bear the social responsibility that matches it and need to be bound by higher moral standards. " Zhu Jie, a senior partner of Taihetai (Chongqing) Law Firm, believes that bloggers and anchors in online celebrity have a wide audience, and it is easy to cause social controversy and disrupt public order by fabricating stories of selling tragedies and spreading rumors.

　　In Zhu Jie’s view, deceiving netizens through false information and gaining sympathy to get high traffic is essentially that online celebrity gains benefits through deception, which should be given a negative moral and legal evaluation and punished in various ways. If online celebrity obtains donations and rewards from netizens by fabricating false information, it is suspected of fraud.

　　In order to rectify the chaos of selling and draining, the relevant departments are taking active actions.

　　In March of this year, the Central Network Information Office launched a two-month "Clear and Strict Renovation ‘ Since the media ’ Chaos "special action, focusing on social, short videos, webcasts and other types of key platforms, resolutely crack down on outstanding problems such as" self-media "rumors, counterfeiting, illegal profits, and strictly deal with them to create a clear cyberspace. It is mentioned that strict rectification of "self-media" uses vulnerable groups to realize traffic, including cajoling, luring the elderly to shoot videos, setting up live broadcasts, and defrauding netizens to like, reward and donate; Deceive and seduce disabled people, and gain traffic through illegal and immoral ways such as selling badly, spoofing and abusing.

　　On March 28th, the State Council Information Office held a press conference on the "Clear and Clear" series of special actions in 2023. Niu Yibing, deputy director of the National Internet Information Office, responded to the problem of content-oriented governance of short videos at the meeting, pointing out that "comprehensively cleaning up short videos that are misdirected and mislead the public by forging scenes, compiling details and fictional experiences" is one of the main contents of this special action.

　　A staff member of a short video platform told the reporter that for all kinds of illegal videos or live broadcasts such as "sex, ugliness, strangeness, falsehood, vulgarity and gambling", the platform will comprehensively investigate and clean up the anchors and guilds suspected of the above behaviors, and give the following penalties according to the actual behavior severity, subjective malice and impact of the anchors:

　　Give warning and stop broadcasting punishment for the first violation, and educate and control it; For the second time, the right to live broadcast was recovered for 7 days in violation of regulations, and it was required to pass the online examination and training, and the broadcast was resumed after the examination passed; For the third time, the right to live broadcast was illegally recovered for 30 days, and it was required to receive offline training and education. After passing the exam, it resumed broadcasting and asked it to publicly release the self-discipline announcement video; For those who repeatedly violate the norms for more than four times and cause adverse social impacts, the live broadcast rights will be recovered indefinitely and publicized, and the relevant guilds will be warned to publicize, freeze their rights until they are retired, and at the same time, they will be reported to the higher authorities as the case may be.

　　The staff member said that for anchors and guilds with serious violations or involving illegal and criminal acts, the platform will take the initiative to report the industry blacklist and report the relevant information to the public security and other relevant departments.

　　However, experts pointed out that for some videos that sell miserably, if there is no obvious violation of the law, the relevant anchors may have to repeatedly violate the rules before they can be completely removed from the platform. If they are not reported, the platform may find it difficult to take the initiative in time. Compared with the flooding degree of such videos and online celebrity’s huge profits, the punishment is obviously weak.

　　Establish a joint disciplinary system

　　Promote platform public co-governance

　　Zhu Jie believes that platform supervision and public opinion supervision are the key to rectify this kind of chaos. The network platform should fulfill the main responsibility of information content management, and take ecological management, real-time inspection and timely disposal of network information. If it is found that the behavior of selling miserable drainage is found, the platform can ban it, and if the circumstances are serious, the live broadcast room will be banned and it is forbidden to start broadcasting again.

　　"Webcast platforms should strengthen supervision and punishment measures, especially for online celebrity bloggers who have been banned. Major live short video platforms need to reach a consensus and join hands to resist. In addition, complaints and reports can be set up in a prominent position, and netizens can report such anchors and bloggers to realize the network ecology of the platform and the public. " Zhu Jie said.

　　Han Xinhua, an associate professor in the Department of Law of the School of Cultural Industry Management of China Communication University and director of the Teaching and Research Section of Cultural Rule of Law, believes that at present, the platform mainly manages itself according to the community code and user agreement, and takes disciplinary measures to users who violate the rules, such as restricting their functions, stopping their work and banning them, according to the severity. Law enforcement agencies that constitute illegal crimes will impose penalties. The punishment of a single platform is not enough, and it is necessary to form a joint force.

　　Zhu Wei suggested that joint punishment and classified management of credit should be carried out, and the credit of online celebrity, who fabricated false facts and violated moral laws, should be downgraded to a certain extent or seriously violated the rules to a certain extent, and should be given a title. Secondly, the actual users, account owners, registrants and MCN institutions behind online celebrity account should bear relevant responsibilities.

　　"The responsibility of the platform should be increased. For videos with hot spots, high clicks and high replies, the platform should strengthen the review before pushing it to a higher hot spot, and the platform algorithm should also strengthen supervision. If the works in the platform are hot, the platform should bear greater responsibility. If there is a problem, the platform should jointly punish the actual users, account owners, registrants and MCN institutions behind this account." Zhu Wei said.

　　Han Xinhua believes that brokerage institutions and trade associations should play more roles. Brokerage agencies and contracted anchors are a community of interests, so they should regularly train their contracted network anchors in communication ethics, policies and laws, and conduct daily supervision and guidance on their behavior.

　　In addition, Zhu Jie also mentioned that administrative law enforcement departments can impose administrative penalties such as fines, detention and revocation of business licenses on online celebrity and related institutions, or unify the market "white list" access standards. "The lure of interest brought by the huge traffic has led some online celebrity to make great efforts to do something appalling and make up stories to gain attention. Relevant departments should give positive guidance to this disorderly pursuit of interests and investigate and deal with violations of laws and regulations in a timely manner. "

　　Comics/Gao Yue　　

Happy laughter shows harmony and auspiciousness. In the colorful temple fairs with lanterns and blessings, the new year is ushered in. The following is a sentence of giving out red envelopes no matter what festivals. Welcome to read it.

1. The Mid-Autumn Festival is round, and friendly people are lonely. It was Chan Yue who mended her thoughts, and things and scenes touched her sadness. Acacia is like a song, singing the joy and sadness of the world. Acacia is like a wine, mellow and drunk. Lonely bottle full of clear moonlight, infatuated with hazy tears.

2. In the morning, the golden sunshine sprinkled on the ground, and the wind gently whirled in my ears, as if to say to me, "I wish you a happy holiday!" The students were dressed in neat school uniforms and a bright red scarf. He came to school in high spirits. The flowers and trees on campus are also very active.

3. If you don’t want to talk about other communities, let’s talk about the community where I live. In order to welcome the Spring Festival, a husband named Wang wrote a pair of couplets: "The rooster sings a new song to celebrate his life, and the monkey reports peace and prosperity." Well, this is really great! In addition, every family has the word "Fu". “。 New clothes were put on the walls and stairs of the community, and everyone was waiting for the Spring Festival.

4. Look up at the round moon, hanging high above the deep space. Clouds are dignified

5. The Spring Festival is a traditional culture in China, and it is a pure light that cannot be missed. Why do you put wet clouds in my heart?

6, has a long cultural history, this day, people have to get together for dinner, Spring Festival couplets, blessings, firecrackers and other activities.

7. On the night of Mid-Autumn Festival, hold a cup of fragrant tea, stare at the distant night sky according to the pillars, and let your thoughts fly away. From the chaos of the night, make a cup of tea. The moon is the hometown of Ming. Like the eyes of a dear person, the moon flowers like water have touched the hearts of many distant vagrants and set foot on this month’s thinking. How many kind mothers are looking forward to the moon under the fog? Return. The moon in Mid-Autumn Festival is round and bright, and there is a beautiful family reunion. People look at the moon, and the round moon is full of profound thoughts and wishes for distant relatives.

Children’s Day on June 1st is a feast for children. On Children’s Day, we celebrate our time. Today is Children’s Day on June 1st every year. Every student’s face is filled with a happy smile. We came to the school auditorium to prepare for the Children’s Day singing competition, and had a PK competition with other classes!

9. In my eyes, Mid-Autumn Festival is like an invitation. On the 15th of every month, you will be invited to have dinner with your family and friends. The invitation card is valid for life and will never expire. Mid-Autumn Festival is a real flower, full of love and friendship. It spreads the fragrance of flowers to the north and south of the river and the whole country. Mid-Autumn Festival is like a spring river, which flows through everyone’s heart and nourishes everyone’s soul.

10. This year’s Mid-Autumn Festival is always busy, and the festival is coming again. Parents don’t know how many wrinkles and white hair they have added. I can’t go back to visit them, I can only pray and bless them. I hope my parents, all parents in the world, can live a long and healthy life, always smile, always be a safe haven for their children and rely on happiness.

11. Unconsciously, tears fell into the Mid-Autumn Festival screen, just like fireworks in full bloom at night, gorgeous but difficult to seal, only the residual temperature, crying together, flowing at night, I know that the scars carved there stopped for a long time.

12. This is the evening of the Lunar New Year this year. On the newly-built road of Huaqiao, the sky is full of gunfire and fireworks, and the whole night sky is colorful. Fireworks run, jump, scream, shout and play. My brother and I watched CCTV’s Spring Festival gala before the opening and closing ceremony, lit fireworks and played happily, only to find that every family was lit up by lights. I thought they were all sitting in front of the TV, waiting for the opening of the Spring Festival party.

13. What will the Spring Festival be like this year? Although the Spring Festival will take some time, I still can’t stop longing for it. I still believe that as long as you persevere and wait forever, one day, you will wait until that day and you are looking forward to it. For the Spring Festival, I will be full of expectations!

14. This is a beautiful night. Red lanterns fill the streets with light. On the wide road, cars keep flowing, and the "red flow" flows to the southeast and northwest. In the street, people carry lanterns, and beautiful lanterns represent the joy in people’s hearts. Soon, the sky "opened" colorful fireworks. Night turned into day, fireworks put on colorful clothes in the night sky, and also reflected the lonely moonlight sister. Walking into the alley, every family is talking with a smile, which makes people feel warm.

15. Mid-Autumn Festival is both sweet and sour. Say it’s sweet, because you can enjoy delicious moon cakes; This is sour, because you are lonely when you have no relatives. My mouth is sweet and rich, but I feel homesick. She made me know more about the preciousness of family ties and made me taste the sweetness and warmth of my hometown. I deeply understand and clearly know that I am nearby, but I don’t know how to cherish it. I only find it important after I lose it. In the bleak Mid-Autumn Festival, the fire was lit and the coolness of autumn disappeared.

,

　　CCTV News:According to China Weather Network, recently, due to the influence of subtropical high, there has been a continuous sultry sauna day in the northeast and north China, and the highest temperature in many places has broken historical extremes. It is expected that this round of high temperature weather in the north will gradually weaken and fade on the 5 th. The high temperature has gone up and down. Affected by the rain and the wind and rain brought by the lark, the high temperature range in the south will be significantly reduced today (2 nd) and tomorrow, and it will make a comeback on the 4 th.

　　The high temperature has gradually weakened since the "sauna" in Northeast China and North China continued for 5 days.

　　Since the end of July, due to the influence of subtropical high, there has been continuous high temperature weather in northeast and north China, and the air humidity is high, making people feel like a sauna. Yesterday, there was a high temperature in Shenyang, Liaoning Province for the fifth consecutive day. The highest temperatures in Dandong and Dalian reached 37.3℃ and 36.9℃ respectively, setting a meteorological record for extreme values. Temperatures in Beijing, Tianjin and Hebei and Shandong are also above 35℃, which is sultry and unbearable.

　　Yesterday, street people in Hohhot wore sunscreen masks to travel. Recently, the meteorological department of Inner Mongolia has continuously issued high-temperature warnings.

　　In the next few days, the above areas will still accept high temperature "baking inspection". The Central Meteorological Observatory predicts that before August 5, the high temperature in Beijing-Tianjin-Hebei, northern Shandong, central and eastern Inner Mongolia, most of Liaoning and central and southern Jilin will gradually develop, and the high temperature in Beijing-Tianjin-Hebei and Liaoning will last for 3 to 5 days. In this regard, the Central Meteorological Observatory continued to issue a high-temperature yellow warning this morning.

　　In this round of high temperature process, Shenyang is "outstanding". The highest temperature in Shenyang has exceeded 35℃ for five consecutive days, and the highest temperature will continue at or above 35℃ in the next three days, which is likely to break the record of the highest number of consecutive days of high temperature, which appeared in 1952 and lasted for five consecutive days. At the same time, the highest temperature in Shenyang today may reach 37℃, which will set a new record for the local extreme highest temperature in August (the previous record was 35.7℃). In addition, with the continuous expansion of high temperature, the temperature in Changchun may reach 36℃ on the 3rd, which will not only set a new high this year, but also become the hottest day in the local observation history in August. The high temperature in Changchun in August is very rare, and there has been only one high temperature on August 3, 1968 since it was recorded in 1951.

　　In addition to the northeast, Beijing-Tianjin-Hebei and northern Shandong will also have high temperatures in the next three days, and the highest temperatures in Beijing, Tianjin, Shijiazhuang and Jinan will remain at 35 C or above. The temperature in North China is high during the day and not low at night, and the lowest temperature is mostly above 26℃, and Tianjin will exceed 28℃. Moreover, due to the high relative humidity, the somatosensory temperature is higher, and the sultry feeling is not inferior to that in the south.

　　The Central Meteorological Observatory predicts that in five days, the hot weather in the above-mentioned areas in the north will end. This round of high-temperature weather lasts for a long time, and the high temperature in some areas breaks the extreme value. People in the above areas need to be prepared for heatstroke prevention and cooling, and try to avoid going out at the hottest noon. If they have to go out, they should take sun protection measures and replenish water in time. Outdoor workers prepare some heatstroke prevention drugs for emergencies.

　　The high temperature area in the south has been significantly reduced, and it has made a comeback since the 4 th

　　For many places in the south that have been suffering from high temperature for nearly half a month, we will enjoy a short coolness today and tomorrow. Affected by the rain and the wind and rain brought by the typhoon "Lark", the high temperature area in the south will continue to shrink today and tomorrow. Today, the western and southern parts of the south of the Yangtze River and most of southern China are out of the high temperature range. Tomorrow, there will be little high temperature left, only parts of northern Chongqing, northeastern Hubei and northwestern Jiangxi still have a small range of high temperature, and the rest areas will basically end the high temperature temporarily. In the area of Jiangsu, Zhejiang and Shanghai, due to the wind and rain brought by the typhoon "Lark", the maximum temperature in many places will drop to around 30℃ tomorrow.

　　Although the high temperature in the south has shrunk, the highest temperature in many places is still around 33℃, and the sultry feeling will continue. At the same time, the cooling time is very short. Starting from the 4th, the high temperature in the south will return strongly. At present, it is in the middle of the sky, and high temperature is the main theme. People in the southern region need to continue to prepare for heatstroke prevention and cooling.