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Behind the contrarian growth of FAW Hongqi： autonomous high-end is gradually becoming a climate

Observation | Behind the counter-trend growth: autonomous high-end is gradually becoming a climate

In the past September, China’s auto market once again handed over a beautiful "report card", and auto production and sales have shown growth for six consecutive months. Against the backdrop of the global auto industry being hit by the pandemic, the rapid recovery of China’s auto market undoubtedly provides a good model for the recovery of the global auto market.

However, under the premise that the domestic auto market is recovering well, the market share of Chinese brand passenger cars has shown a decline, falling to 36.4% from January to September, a year-on-year decrease of nearly 2.3 percentage points.

"The sales performance of Chinese auto brands is directly related to the trend of the auto market in the fourth quarter." An industry expert expressed the above judgment to Securities Times Car Capital.

Securities Times · Car Capital noticed that in the process of major Chinese auto brands struggling to turn around the decline, FAW Hongqi has achieved a contrarian growth that far exceeded market expectations. In September, monthly sales exceeded 20,000 vehicles, an increase of 86% year-on-year. This is a huge contrast with its sales performance in previous years.

Why did FAW Hongqi’s sales rise against the trend? What enlightenment will its growth bring to more Chinese auto brands and even the entire industry? It has become a hot topic in the industry recently.

Thunder reform works

"The competition in the entire manufacturing industry is intense, and it is more organic when it is dangerous. We saw such a prospect in FAW. Your development this year is unique."

On July 23, the top leader of the General Secretary of the Central Committee of the Communist Party of China, the President of the State, and the Chairperson of the Central Military Commission praised the red flag, the representative of the national brand, during a visit to the General Research and Development Institute of China FAW Group.

In the context of the "black swan" epidemic in China’s auto market for two consecutive years, the rise of FAW’s red flag against the trend can indeed be called "the unique scenery here".

A few days ago, China FAW announced sales data in September, Hongqi brand sales reached 21,500, an increase of 85.9%; 1-9 cumulative sales of 130,000, an increase of 104.4%. In 2019, Hongqi brand sales achieved nearly 600% year-on-year growth, cumulative sales exceeded 100,000.

Compared with the sluggish sales performance in earlier years, these two sets of data are like a "shocking reversal". What exactly did the Hongqi brand rely on to achieve a breakthrough against the trend? This has not only become a hot topic within the automotive industry, but also a hot topic for some investors.

An Qingheng, director of the China Automobile Industry Advisory Committee, told Securities Times Car Capital that the soaring sales of FAW Hongqi are closely related to its internal reforms in the past two years.

In September 2017, Xu Liuping, chairperson of FAW Group, who had been in office for less than two months, launched the Thunder Reform and adjusted the Hongqi brand to be directly operated by the group headquarters.

"This time the reform movement is particularly large. The original FAW Technology Center has been delisted, but the R & D General Institute, the Modeling Design General Institute, the New Energy Development Institute, and the Intelligent Networking Development Institute have been established respectively." An employee of FAW Group headquarters told Securities Times Che Capital on condition of anonymity that after the new organizational structure was completed, the group also carried out a "all stand up and compete for posts" personnel reform, and more than 4,000 cadres and employees at the headquarters had to be re-hired through competition.

At the beginning of 2018, the previous system reform quickly bore an important fruit – China FAW released the new Hongqi brand strategy. It is worth noting that at this press conference, China FAW called out the sales target of Xinhongqi, that is, 100,000 units in 2020, 300,000 in 2025, and 500,000 in 2035.

"Although the industry has not publicly discussed the sales target set by Xinhongqi, there are still many doubts." An Qingheng told Securities Times Car Capital that practice has proved that this series of reform policies has effectively promoted the development of Hongqi. Objectively speaking, Xu Liuping, as the helm of the company, played a key role.

An industry insider told Securities Times Car Capital that although the market share of Chinese brand passenger cars has declined and most of them face challenges, in general, there is still a strong entrepreneurial spirit in the industry, and the overall reform atmosphere is strong. Each brand is seeking transformation in line with the "new four modernizations" of the industry.

"It should be said that the revival of the Hongqi brand has exported a positive sample to the Chinese auto industry." An Qingheng believes that the successful transformation of Hongqi has brought inspiration to more independent brands and provided an upward path for reference.

Who is buying the Red Flag car?

"I was in my early 30s this year and bought a Hongqi H5 in 2019. At that time, I mainly liked the design and configuration of this car. You can’t enjoy this configuration by buying a joint venture car at the same price." Mr. Zhang, who lives in Zaozhuang, Shandong Province, told Securities Times Car Capital that in addition to high cost performance, what he values most is the overall tonality of the Hongqi brand. "Driving a Hongqi car, you seem to be very stable, and you have more face and personality," Mr. Zhang said.

Observation | Behind FAW Hongqi's contrarian growth: autonomous high-end gradually becoming a climate

Previously, people’s impression of Hongqi models was mostly "inspection cars" or concierge executive cars, which seemed to have little direct connection with the market. But with the launch of Hongqi H5, H7, HS5, HS7, H9 and other models in the past two years, this existing "stereotype" is gradually disintegrating.

A person close to China FAW told Securities Times Car Capital that according to his understanding, there are generally two types of consumers who buy Hongqi brand models. One is the more emotional and supportive, and the purchase of Hongqi cars is very national pride; the other is the more trendy consumer group. In recent years, the products launched by the Hongqi brand are more recognizable and can meet the personalized needs of consumers who pursue "different".

Pan Helin, executive dean and professor of the Digital Economy Research Institute of Zhongnan University of Economics and Law, told Securities Times Car Capital that the Hongqi brand has a deep historical sedimentation, and in this round of reform, FAW has made a good excavation of the value of the Hongqi brand. More importantly, the current market has undergone tremendous changes, and consumers’ car purchase preferences and habits are changing and becoming more diverse. This fundamental change in consumption trends will bring opportunities to Chinese car brands.

Indeed, in recent years, the rise of the national tide, Li Ning boarded the New York Fashion Week, the Forbidden City lipstick was snapped up, the white rabbit toffee, and the leap white shoes ushered in the red… Buying domestic products has become an emerging trend. Some analysts have pointed out that the rise of the national tide is not only related to the rise of young consumer groups and changes in consumer trends, but more importantly, it is closely related to the overall rise of national cultural self-confidence. Consumers can find a sense of satisfaction and belonging by purchasing domestic products full of cultural connotations.

The same is true of returning to the auto industry. At a Hongqi brand 4S store on Yaojiayuan Road in Beijing, a customer looking at the car told Securities Times Car Capital: "In recent years, Chinese brand models have improved in terms of design and product quality, especially the technology configuration is quite awesome. Driving Chinese brand models makes me feel quite proud."

Observation | Behind FAW Hongqi's contrarian growth: autonomous high-end gradually becoming a climate

Securities Times Car Capital noticed that even on weekdays, the Hongqi 4S shop is very busy, with consumers constantly coming to see the cars, and most of them are family units. "If it is on weekends, there will be a lot of consumers around every exhibition car, and there will be a queue when entering the cockpit to see the interior." Sales staff at Beijing Longze Hongqi Automobile Sales Co., Ltd. told Securities Times Car Capital.

In the most prominent position in the exhibition hall of this Hongqi 4S store, there is a Hongqi H9 that has just been listed. The above sales staff told Securities Times Car Capital that the new car has only been on the market for one month, and the order will be queued. At present, the most advanced configuration will take two months, and the personalized configuration will take almost half a year to pick up the car.

Observation | Behind FAW Hongqi's contrarian growth: autonomous high-end gradually becoming a climate

From little attention to ordinary consumers to monthly sales of 20,000 vehicles, the Hongqi brand has really moved to the end point market and completed its self-transformation.

"High-end is the right move!"

In the past period of time, some independent brands relied on price advantages to seize the market, and sales performance was also very good. But after a careful study of the pricing system of Hongqi’s main models, it will be found that "winning at a low price" is not the path chosen by Hongqi. Take Hongqi H7 as an example, its official guide price is 252,800 yuan – 317,800 yuan, and the newly listed Hongqi H9 has a guide price range of 309,800 yuan – 539,800 yuan. Obviously, the "200,000 yuan pricing ceiling" that continues to plague independent brand brands is being broken by Hongqi.

The salesperson in the Hongqi 4S store told Securities Times Car Capital that buying Hongqi’s new models does not require a price increase to pick up the car, which is a hard and fast rule of the manufacturer. However, Hongqi also rarely engages in promotional activities, and the price is relatively firm.

"Hongqi basically does not engage in promotions, and our discounts are more reflected in after-sales." The above-mentioned salesperson told Securities Times Car Capital that the purchase of Hongqi owners enjoys a lifetime free warranty service. At the same time, at the level of used car replacement, Hongqi can give the same value preservation rate as other luxury brands, relieving consumers of car replacement troubles.

Pan Helin said that in recent years, the Hongqi brand has made great efforts in marketing and channel construction, especially through the digital management model to transform the service chain, which has provided important support for the growth of sales.

It is not difficult to see that the re-started Hongqi brand is fully positioning itself as a luxury brand. In fact, many industry authorities have automatically included the Hongqi brand in the luxury brand camp in the process of ranking the sales list of automobile companies. In September, Hongqi successfully exceeded the monthly sales of 20,100 vehicles with 21,500 sales performance.

Industry insiders believe that compared with other independent brands, Hongqi’s high-end road has a natural brand advantage. An Qingheng told Securities Times Car Capital that the competition in China’s auto market is very fierce at present, and some mid-to-low-end enterprises have been gradually eliminated by the market, but independent brands, including, and so on, continue to move up and carry out high-end transformation. In his opinion, Hongqi’s sales have risen sharply against the trend, which further reflects the strength of Chinese auto brands and fully verifies the importance of high-end independent brands.

Shengang Securities analysis pointed out that the current Chinese auto brand products are no longer limited to low-price competition, and the idea of brand upward is becoming more and more obvious. Among them, higher profit levels are the driving force for brand upward.

Securities Times Car Capital learned that, taking Volkswagen Group as an example, the profit level of Volkswagen Group’s Volkswagen brand in 2019 was 4.3%, while the profit margin of its luxury brand was nearly twice that, reaching 8.1%, and the more luxurious brand reached 16.2%.

At the same time, Shengang Securities also analyzed that the solid growth of China’s automobile market in recent years has provided a solid foundation for Chinese automobile brands to move up the brand, and has also brought sufficient capital and technology accumulation space to enterprises.

However, An Qingheng also stressed that China’s auto market is very large, with both high-end and low-end markets. Companies should target precise market segments according to their own positioning. At the same time, whether it is high-end or low-end, the most important thing is to improve product quality. This is the foundation for building brand power and influence.

Wanda Film reorganization, Wang Jianlin Wang Sicong father and son cash 2.70 billion, is to collect money or cut meat？

Original title: Wanda Film reorganization, Wang Jianlin Wang Sicong father and son cash 2.70 billion, is to collect money or cut meat?

Author/Jia Yang, Chihiro

When the class A share film and television company was lamenting in the capital battle, Wanda Film, which had been suspended for nearly a year, threw out a restructuring plan – priced at 11.619 billion yuan and purchased 96.83% of Wanda Film and Television.

It seems that it is the sale of Wanda’s assets "left hand to right hand", but a discerning person can see the key to the problem at a glance: Wang Jianlin and his son have cashed out?

Entertainment CapitalAfter carefully analyzing the transaction structure, we found that the truth is not so simple.

It is not so much "cashing out" as "making a profit", and this is bound to go through a complex game of interests and multiple compromises.

In theory, Wang Jianlin and his son can indeed cash out nearly 2.70 billion yuan in the reorganization. But this is not their initiative, but triggered the relevant regulations of the Securities Supervision Commission on the short-term operation of major shareholders in the secondary market, and had to take cash. In addition, the money is not only paid in 3 years, but also stipulates strict gambling terms. Assuming that Wanda Film and Television does not complete the bet, 100 million less than the target, Wang Jianlin and his son will pay the listed company 1.30 billion…

Not only that, the price of Wanda Film and Television’s injection (about 13 times PE) is far lower than the current market price of film and television companies (24 times PE), and even lower than the valuation of the previous round of pre-IPO financing.

You know, the pre-IPO of Wanda Film and Television was still in early 2016, coinciding with the valuation peak of the film and television capital markets. Wanda’s bosses only sent a Moments, which easily raised billions of funds.

Now, film and television stocks are facing a cold winter, and Wang Jianlin’s demands are also very clear, and contradictions are divided into priority and priority. Advancing the listing of Wanda Film and Television as soon as possible is the first priority. It is necessary to reduce the valuation and obtain rapid regulatory approval, and use high cost performance to win the active endorsement of secondary market capital, so as to ensure the safety of the entire group’s funds.

After all, this is the rational and cold Wang Jianlin, not Jia Yueting who "runs blindfolded".

Wanda Film’s predecessor was the listed company Wanda Cinema (which had acquired Time Network), while Wanda Film and Television is mainly Wanda’s film and television production business, which has not been integrated into the listed company.

As early as 2016, Wanda Film and Television had a plan to inject assets into a listed company. At that time, the asset package also covered the legendary film industry that Wanda had just acquired. It was necessary to sell it to a listed company at a 37.20 billion price. But under the harsh environment of capital markets, in the end, Wanda voluntarily gave up.

This wait is two years.

This time, the injected asset package excludes the "big loss-making" Legendary Film Industry, and adds the new media Eslite (Wanda’s TV drama production asset, the production of "Breaking the Sky" is about to be broadcast).

Due to the change in assets, the transaction size has dropped significantly from the previous 37.20 billion to 11.60 billion.

In this merger, the listed company Wanda Film will purchase the equity of Wanda Film and Television shareholders through cash and issuance of new shares. After injecting Wanda Film, Wanda Film and Television made a performance commitment of 3.228 billion yuan in cumulative net profit for three years.

When the announcement came out and saw the following agreement, many people in the market tut-tut: The Wang father and son have cashed out!

Wanda Film said in the announcement that the underlying asset consideration held by Wanda Investment is 2.693 billion yuan, which is paid by Wanda Film in cash; the underlying asset consideration held by other parties is paid by non-public issuance of shares.

This Wanda investment is carried out by Wang Jianlin and Wang Sicong father and son through the shareholding, the two people together hold 100%. In theory, Wang Jianlin father and son can cash out nearly 2.70 billion yuan in the restructuring.

But in fact, taking cash may be a no-brainer.

According to Article 47 of the Securities Law, directors, supervisors, senior managers, and shareholders who hold more than 5% of the shares of a listed company shall sell their shares in the company within six months after purchase, or buy them again within six months after sale, and the proceeds therefrom shall belong to the company, and the company’s board of directors shall recover the proceeds.

What does this mean? That is to say, in secondary market stock trading, the Securities Supervision Commission does not allow major shareholders to buy and then sell, or sell and then buy within six months. This triggers the Securities Supervision Commission’s short-term trading rules.

According to the conditions in the announcement, in order to get the 2.70 billion yuan, the Wang father and son need to meet the following conditions:

First, 2.70 billion paid over three years.After the delivery, the listed company paid 1 billion yuan to Wanda Investment; after the first annual report, paid 900 million yuan; after the second annual report, paid the remaining 792,885,650 yuan transaction consideration.

Second, the cash payment transactions of Wanda Investment are tied to the gambling agreement.According to the announcement, before the payment of the second and third installments, if the performance commitment party Wanda Investment fails to complete the performance commitment and needs to compensate, Wanda Film will directly deduct the corresponding amount from the price.

Wanda Film board secretary Wang Huiwu further explained to Entertainment Capital that this compensation is not equal, but has an amplification effect. According to the amplification formula announced in the announcement, assuming that Wanda Film and Television has a difference of 100 million in 2018 to complete the bet, then Wanda Investment needs to compensate the listed company for 1 divided by 3.20 billion, and then multiplied by 12 billion.

In this process, Wanda Investment not only cannot easily cash out, but also has to bear some risks for other shareholders.

Since Wanda Film and Television has 21 shareholders in this transaction, under normal circumstances, if Wanda Film and Television does not complete the bet, each shareholder should compensate the listed company according to the proportion of equity held. However, according to the announcement, this is equivalent to Wanda Investment holding only 22% of Wanda Film and Television’s shares, but it bears 100% of the compensation liability. As long as the bet is not completed, it will be compensated by the major shareholders.

Referring to the announcement of Oceanwide Holdings in early 2016 (purchasing 6.61% of Wanda Film and Television for 1.058 billion yuan), it can be estimated that the valuation of Wanda Film and Television at that time was 16 billion. And the asset package of this acquisition added New Media Eslite (valuation 1 billion) and Mutual Love Interactive (valuation 259 million),The overall valuation has instead fallen to 12 billion.

There are old investors in the stock bar who commented that sending it to the listed company at this price is completely a loss-making deal. No wonder this time it is only buying 96.83% of the shares instead of 100%. The remaining 3.17% of shareholders may be "nail households" who feel that the price is too low and will not sell.

Wanda Film and Television’s valuation value in this transaction is 12.002 billion, the initial carrying value is 5.08 billion, and the value-added rate is 136.25%. This value-added rate is not high in the film and television industry. In terms of the review required for the acquisition of listed companies, it is about 13-15 times the level, while Wanda Film and Television is installed into Wanda Film at 13 times the valuation. After the class A share media sector fell sharply, PE still has 24 times.

It is worth noting that, in addition to Wanda Investment, the other 20 investors, the private equity investors gave up the opportunity to cash out, the most obvious reason is that the valuation is too low, and it is more cost-effective to hold the shares of listed companies to share the later rising dividends.

Huace insisted on part of Wanda Film and Television’s equity in the first quarter of 2017, and received a return of 18 million yuan according to media reports

Entertainment CapitalIt has been discussed in depth before,The capital of the film and television industry is experiencing a ebb period in the past two yearsIt is not surprising that the valuation at that time has shrunk today. The initiative to lower the valuation is also to reduce the resistance in terms of supervision and promote the injection of assets into listed companies as soon as possible.

This is not a good time to list or set an increase. The entire class A share has been in a state of trade war + tight capital panic recently, and film and television stocks are one of the most obvious sectors for capital flight.

Shenwan cultural media sector has declined by more than 20% since the beginning of the year.

Zeng Maojun, president of Wanda Film, told Entertainment Das Kapital that no one can predict the trend of the capital markets. You think it is a bad time, and some people think it may be a good time. For leading enterprises, it is always good. Because the industry is not good, it means that the industry may be reshuffled. Who is likely to concentrate better resources? It must be the leader of the industry. Just like the Baijiu industry crisis brought about by the prohibition of alcohol gave birth to the trillion-dollar market value of the leader Moutai.

Concentrating resources at industry lows is an enterprising enterprise, and injecting assets during capital lows, as mentioned above, is the financial pressure behind the enterprise. Wanda Group’s real estate business is not very smooth when it returns to class A shares and film resources are injected into listed companies. The pressure on related repurchase agreements is great.

Wanda Commercial promised in September 2016 that if it failed to list on class A shares within two years, it would buy back a total of 14.41% of its shares and pay 10% to 12% annual interest. When Wanda Group purchased Legendary Pictures in January 2016, it promised that if it failed to inject Legendary Pictures into Wanda Film’s listing within 12 months, investors would receive a 15% annual interest return. Despite changes to the follow-up agreement, pressure from investors has been ongoing.

Winning the support of investors with a restructuring plan that cuts its own meat and gives profits, and relieving the repurchase pressure, for Wanda, it is to solve the main contradiction first and then consider the secondary contradiction.

In order to ensure the fairness of the transaction, the two sides made a bet. Wanda Film and Television promised that the net profit in 2018-2020 shall not be less than 888 million, 1.069 billion and 1.271 billion. If the profit does not meet the standard, Wanda Investment will compensate the listed company according to the method agreed in the agreement.

With the profitability of Wanda Film and Television, is this bet high or low?

In 2016, Wanda Film and Television’s net profit was 364 million; in 2017, the net profit was 597 million. According to the 64% net profit growth rate in 2017, Wanda Film and Television’s net profit in 2018 can reach 979 million. What’s more, it has been disclosed in the announcement that Wanda Film and Television achieved 407 million net profit in the first quarter of 2018, and completed 45.83% of this year’s gambling commitment in just one quarter.

But it is worth noting that in the first quarter of this year’s report, Wanda Film and Television completed a total of 4.38 billion box office, and only one "Detective Chinatown 2" contributed 3.38 billion box office. In the second half of this year, or even next year and the next two years, whether it can continue to produce such a explosion is uncertain.

Wanda film and television how to complete the 3-year 3.128 billion performance bet? Zeng Maojun gave two major plans.

The first is to increase the number of movies, and to increase the non-box office revenue part of the movie revenue. In his opinion, no one can guarantee the box office of every movie, but 10 movies can have the probability of profitability, as long as the number is enough, it can spread the risk.

Secondly, it relies on TV series and games to make up for the income instability brought by film projects. This is also the reason why it is committed to loading the previously acquired company New Media Eslite into the listed company.

"The Wanda Film and Television team doesn’t do TV dramas, we do functional segmentation, and in the future TV dramas will be done by the platform of New Media Eslite. But all IP can form a linkage between movies, TV and games," Zeng Maojun said.

For example, the TV series "Breaking the Sky" produced by Wanda Film and Television has now been completed and is being posted productin. It will be broadcast on Hunan Satellite TV and Tencent platforms this year, and some profits have been locked in. At the same time, the TV series has planned a second and third season in addition to the first season, as well as movies and games with the same IP.

That is to say, in addition to getting the purchase price of the drama on the broadcast platform in advance, Wanda Film and Television will also enjoy the game sharing rights, movie box office sharing rights, derivatives sharing and many other benefits of "Fighting Sky". Even Wanda Film and Television has started planning the theme park of "Fighting Sky".

In addition to "Fighting the Sky", Zeng Maojun also revealed a series of web dramas, movies, games, and theme parks. For example, "Tang Tan" also started the development of web dramas and anime this year; "Dragon Hunting" series of games and theme parks, there will be a different form of IP project every year or two in the future.

Since Disney recently announced the acquisition of Fox, one of the reasons is to control the streaming video platform Hulu and compete with Netflix, which has surpassed Disney in market value. The threat of streaming media to traditional entertainment giants is imminent. Wanda Film and Television has also begun to explore streaming media in addition to its original business.

Zeng Maojun said that it will launch an online cinema chain and cooperate with film and television copyright holders in the mode of sharing accounts, which will be launched within this year.

Wanda’s acquisition of Legendary Pictures was seen as a landmark deal for Chinese capital to attack Hollywood.

If you count the valuation of Legendary Pictures alone, in early 2016, Wanda Group spent 3.50 billion dollars when it acquired, which was about 23 billion yuan at that time.

When Wanda Film and Television first announced the loading of a listed company in 2016, in addition to the production business of Wanda Film and Television itself, it also included the legendary film industry acquired by its Qingdao Film Investment Company and the film and television base Qingdao Movie Metropolis. The valuation at that time was 37.20 billion.

But soon after, Wang Jianlin said in an interview with the Financial Times that Wanda planned to separate Legend from its listing plans because Legend’s performance in 2016 was not satisfactory.In fact, Legendary Pictures has been acquired before two consecutive years of losses totaling 5.87 billion yuan, debt of more than 9 billion yuan.

The Sino-US co-production blockbuster "The Great Wall" released at the end of 2016 is a film jointly produced by LeTV Pictures, Legendary Pictures and Universal Pictures. It cost 150 million US dollars, and finally the world is about 1.20 billion. But neither the content nor the box office has met market expectations. Wanda’s expectations are that the global box office is 3-400 million US dollars.

The Great Wall.

After being acquired by Wanda, Legendary Pictures performed mediocre, with two consecutive CEOs leaving.

Even if it is at risk, Wanda will consider divesting Legendary. The main reason is that after the acquisition of Legendary Pictures by Wanda, the number of movies per year is relatively small, about 2-3, which is relatively risky.

For example, this year, Legendary Pictures participated in the production of "Jurassic World", and the investment accounted for 25%. Now the box office of this film has 620 million US dollars. When encountering such a hit, the performance may be very good, but when encountering a poorly performing film, the fluctuation is very large.

Zeng Maojun said that in the future, Legendary Pictures will develop independently and increase the number of movies. In addition, Legendary Pictures will also increase some TV drama business and strengthen cooperation with Time Warner and Universal Pictures.

Today’s Wanda Film is strengthening its entire layout from Wanda theaters to film and television production.Before the transaction, Wanda Film was mainly engaged in cinema investment and construction, cinema film distribution, cinema film screening and related derivative businesses, and its main business was concentrated in the downstream of the film and television industry chain.

Through this transaction, the company’s main business will expand to the investment, production and distribution of movies and TV series, as well as the distribution and operation of online games, and build "five business platforms integrating cinema end point platform, media marketing platform, film and television IP platform, online business platform, and film game interactive platform". Wanda Film can accelerate the pace of transformation into a pan-entertainment platform company.

So it seems that Wanda Film and Television’s ambitions are indeed not small.

Under the influence of the PPT project in the past two years, many companies have been afraid to release film orders during the Shanghai Film Festival. However, at Wanda Night, Wanda Film and Television announced 30 work plans in one go, including 9 domestic films, 6 co-productions, 4 animation works, and 11 TV series. For example, online dramas such as "Tang Detective" and "The Story of Kings in the Western Regions".

This year, Wanda Film and Television also launched an elite + talent training program. The first phase of screenwriter training is called the Future Master Workshop. So far, the screening training has been completed, and the contract has been signed, and the first phase of incubation has been completed. "We cooperate with industry celebrities, including well-known domestic screenwriters and Hollywood teams. We hope to train about 40 screenwriters every year in the next five years or so," Zeng Maojun said.

In addition to offline development, Wanda is also exploring online cinema business. But for the value of streaming media, Wanda Film’s perspective is still: content is king. Zeng Maojun is more optimistic about the Mango TV model. He believes that as long as there is good content, the video platform can be established in the short term. One or two variety shows will raise the market value of Mango TV to 10 billion.

This seems a bit conservative compared to Disney, which Wanda regards as a role model and rival.

A few days ago, Disney announced the acquisition of Fox. According to US media analysis, in addition to content assets, Disney has a 30% stake in Hulu in Fox’s hands, plus its own 30% stake, and can control Hulu after the merger is completed. In the major reform of the department in March this year, Disney has specially opened a department responsible for streaming media business.

But in Mr. Zeng’s view, Disney is more interested in Fox’s offline theme parks and vast IP library than Hulu. Wanda Pictures also does not want to buy BAT-owned streaming sites such as "Aiyouteng", but does its own streaming media. Zeng Maojun said that different forms of online platforms have survival space. Wanda will be different from other platforms. The main purpose is to divert traffic and divide accounts, and it will be combined with film marketing. That’s all.

Throughout last year, Wang Jianlin broke down, selling assets and reducing liabilities.

In July 2017, Wanda sold tourism and hotels to Sunac and R & F, and this agreement alone reduced debt by 44 billion yuan and recovered funds by 67 billion yuan. In Wanda Group’s 2017 work summary, Wang Jianlin revealed that assets at cost were 700 billion yuan, a decrease of 11.5% year-on-year. For this year’s plan, Wang Jianlin said that Wanda Group will use all capital means to reduce corporate liabilities, including the sale of non-core assets, equity transactions under the premise of maintaining control, and cooperative management of other people’s assets. "Wanda Group will never have any credit default in the world!"

So after entering 2018, Wanda Group continued to "sell, sell, sell". In addition to selling London and Australian hotel assets, it also transferred the equity of Wanda Commercial and Wanda Film, and introduced strategic investors respectively. While withdrawing funds, it delayed the pressure for Wanda Commercial to return to A and Wanda Film for restructuring.

With the help of this series of arm-breaking and slimming actions, Wanda has safely landed from the danger of the capital chain being questioned in the second half of last year and the dual killing of stocks and bonds. In June this year, Standard & Poor’s adjusted Wanda’s rating to stable, and Moody’s also adjusted Wanda Commercial’s rating outlook from negative to stable. Fitch confirmed Dalian Wanda Commercial Management’s BB + rating, with a stable rating outlook, and removed the negative watch list.

The cut to promote the reorganization of Wanda Film is part of Wanda Group’s overall strategy of exchanging small for big. Wang Jianlin said in Wanda Group’s 2017 work summary that this year’s goal is to promote transformation, accelerate the pace of light assets, and form a new pillar industry. The first is the film and television industry.

Wanda Film board secretary Wang Huiwu also told Entertainment Das Kapital: Wanda Group did not want to put a high valuation of things into the listed company, the bigger the industrial chain is the consideration. Wanda Group makes a lot of profits, is to make this thing, not to say how big the valuation.

For more exciting content, follow Titanium Media’s WeChat account (ID: taimeiti), or download the Titanium Media App.

The fuel consumption is as low as 5L, BYD Han DM-i is exposed, the design remains unchanged, and the price is lowered by 20%.

BYD’s successful transformation in just a few years can not be separated from its massive investment in the field of new energy.

In recent years, the benefits have gradually emerged. Blade batteries, super hybrid DM-i, etc. have become brand-new synonyms for BYD, and BYD has also won the favor of friends. BYD, on the other hand, is unmoved and concentrates on expanding its product matrix to seek more market share.

No, on the day of the release of BYD Song (parameter picture) Pro DM-i, the road test spy photos of BYD Han DM-i were exposed on the Internet. I have to sigh that BYD’s speed is too fast, which is not to give friends a chance.

According to the exposed road test spy photos, the appearance of Han DM-i is almost the same as that of the models currently on sale, with some adjustments only in the details. According to the previous application information, the new car will be equipped with a DM-i super hybrid system consisting of a 1.5T engine, while the Han DM currently on sale is equipped with a DM-p plug-in hybrid system. Compared with the two cars, Han DM-i is obviously better in fuel economy.

In addition to the difference in power, the appearance of the Han DM-i is also different from that of the Han DM model. In addition to the obvious difference in the logo in the lower left corner of the tail, the taillight part has also been replaced with a newly designed taillight group shape, although it is still a penetrating taillight, but the overall shape is more slender.

Combined with the declaration drawings submitted by BYD to the Ministry of Industry and Information Technology, Han DM-i continues the exterior design of Han DM models, and the front part continues the design of the models currently on sale. The large-size hexagonal air intake grille has formed a "big mouth" visual effect. The grille is decorated with lattice structure of chrome-plated elements, which gives people a very strong visual impact. The top of the grille is consistent with the cash, and a thick chrome-plated strip with the "Han" logo is on both sides.

The side part of Han DM-i is still designed with multiple waistlines, thus creating a slender outline of the vehicle, and the "Long Lin" decorative plate at the rear window triangle is also preserved, which well reflects the exquisiteness of the new car.

As the biggest highlight of this change, the dynamic performance of Han DM-i is undoubtedly the biggest highlight.

Han DM-i will be equipped with a super hybrid system composed of the same 1.5T engine as Tang DM-i. The power performance can refer to the powertrain of the current Tang DM-i. Of course, BYD will not rule out the power adjustment of Han DM-I in the later period, but the general data is still the same. The maximum power of the current Tang DM-I is 102kW, and the maximum power of the motor is 145kW. Although compared with the 2.0T engine of BYD Han DM currently on sale, correspondingly, the fuel consumption performance of Han DM-i in the feed state will be reduced, which is more in line with consumers’ demand for low fuel consumption.

After all, the biggest advantage of BYD’s DM-i hybrid system is obviously the low fuel consumption performance of the vehicle under the feed fuel consumption. Although there is no relevant information on the fuel consumption of DM-i models at present, referring to the comprehensive fuel consumption performance of BYD’s Tang DM-i as low as 5.3L100km, this is obviously very rare for a big guy who is positioned in a medium-sized SUV, and the high probability of fuel consumption of BYD’s Han DM-i will be stabilized at around 5L.

Finally, let’s look at the price. Combined with the official guide price of the current BYD Han DM plug-in hybrid model of 21.98-23.98 million, the BYD Han DM-i exposed this time is expected to be lowered in terms of price, further lowering the price threshold. It is estimated that the starting price will be controlled at around 170,000, and the reduction rate will be around 20%, so as to enhance the competitiveness of its own products.

On the whole, the Han DM-i launched by BYD this time is obviously more suitable for home use than the previous Han DM. After all, in today’s background, car companies have gradually begun to abandon models with high displacement, and BYD Han DM-i is obviously more suitable for the current consumption trend with the blessing of super hybrid DM-i and blade batteries. As for BYD Han DM, there is a high probability that it will be retained. After all, some consumers still prefer powerful models.

Revealing the emotional anchor’s skill of collecting money： acting hype, selling miserable goods

　　Xinhua News Agency, Jinan, June 2 nd Title: Revealing Emotional Anchor’s Art of Collecting Money: Acting and Speculating, Selling Miserable Goods.

　　Xinhua News Agency "Xinhua Viewpoint" reporter

　　In Tik Tok, Aauto Quicker and other short video platforms, there are a group of anchors who solve emotional problems for netizens. They can solve complicated contradictions and disputes in daily life in minutes, attracting a large number of middle-aged and elderly viewers.

　　A survey by Xinhua Viewpoint reporter found that these emotional anchors often write, direct and play false stories under the guise of "mediation", with the actual purpose of bringing goods. Most of the goods sold are fake and shoddy, which is suspected of fraud.

　　Making up stories "selling miserably" has tens of thousands of fans.

　　The reporter searched several short video and live broadcast platforms with the keyword "emotional anchor" and found that under the label of "positive energy", the screen was full of incredible ethical stories, such as "my ex-boyfriend took out his kidney for his girlfriend but chose to disappear" and "my husband died for 6 years and met again on the way to work".

　　Once you pay attention to an emotional anchor, the platform will continue to push similar emotional anchors. In the live broadcast room, the anchor usually conducts so-called contradiction mediation and dispute settlement in the name of accepting the request of the "client". After the broadcast, the anchor took "everyone likes it to 100,000, so I will contact the client for mediation" as a gimmick, accumulating the audience and popularity in the live broadcast room, and distributing more traffic in the background accordingly.

　　From fighting between husband and wife to quarreling between mother-in-law and daughter-in-law, from maintenance disputes to child abuse, the drama of "mediating contradictions" by anchors is constantly staged in videos or live broadcasts. Some of the protagonists in the story are terminally ill boys, and some are mothers abused by their children. They have left messages to the emotional anchor for "help" because of their "miserable experiences".

　　The anchors sometimes look dignified and sometimes impassioned. After the connection, it only takes a few hours, and seemingly extremely sharp contradictions will always be solved.

　　According to the reporter’s investigation, the number of fans of emotional anchors in Tik Tok is more than 10 million, and there are also tens of thousands of fans. Some millions of fans often watch live broadcasts of anchors with more than 100,000 people.

　　Not only live broadcast, but also some anchor numbers broadcast "series" in the form of short videos. A Tik Tok named "Dai Sige" has broadcast more than 200 short videos so far, with more than 5.4 million fans and more than 46 million likes, and the highest rating of a single video exceeds 2.8 million.

　　The content of "selling badly" has won the trust of a large number of middle-aged and elderly audiences. The helplessness, fear and deception of the parties in the video not only satisfied their curiosity, but also won their sympathy. For example, in the live broadcast room where the plot is "treating the mother", there are barrage screens such as "This girl is so kind", "Too filial", "Help her" and "Help me place an order when my son comes back".

　　Wang Xiaoyan, a senior anchor, said that these emotional anchors won by team ability and script plot, and the people and stories were carefully compiled and interpreted.

　　The parents of Ms. Yin, a citizen of Nanning, Guangxi, are over 60 years old. Both of them pay attention to a large number of emotional anchors and spend several hours watching these short videos or live broadcasts every day. "They are actually attracted by the dramatic conflicts in these videos. Some anchors have intense emotions, strong inflammatory language and like moral criticism, which is particularly easy for middle-aged and elderly people to become addicted. " Ms. Yin said.

　　Some live broadcasts earn tens of thousands of yuan, and the sales are often defective products and no fakes.

　　In fact, the emotional anchor interprets the story of "ups and downs" according to the script, creates "conflicts and disputes" and acts as a "mediator", with the ultimate goal of "sucking powder to raise the number", so that fans can bring goods after reaching a certain number.

　　An emotional anchor told reporters that the daily income of an ordinary live broadcast room with tens of thousands of fans ranges from several thousand yuan to ten thousand yuan, such as rewards, parking fees with goods and profits with goods. In a live broadcast room with over one million fans, the income can easily reach more than 50 thousand yuan.

　　An emotional anchor selling e-books introduced that the total number of fans of his team in Tik Tok and Aauto Quicker is about 3 million, and the team’s income mainly consists of two parts: first, fans reward, which mainly attracts fans to "encourage and support" the plot parties and mediators in the process of resolving emotional disputes; The second is the income from goods, because the cost of selling emotional counseling e-books is almost zero, and the profit is extremely high. The monthly income of its team can reach 1.2 million yuan.

　　In order to close the distance, the audience in front of the screen is called "family" by the anchor. "Family, come and want to hear what happened to their mother-in-law relationship. Please pay attention or join a fan group."

　　When the reporter entered the Tik Tok named "Colette March for Love", the anchor was broadcasting a "party". With tears in her eyes, the client told the story of being driven out of the house by her mother-in-law, which attracted more than 600 fans to watch in just a few minutes.

　　The reporter learned that in the live broadcast room of the anchor, you don’t need to pay any fees to pay attention to the anchor, but to become a "fan" of the anchor, you need to pay a shaking coin worth 0.1 yuan RMB. "After becoming a fan, speak in the live broadcast room, and the user name will be marked with ‘ Family label ’ , become the anchor ‘ Family ’ 。” Tang, an elderly enthusiastic audience of an emotional anchor, said. Being "fans" and "family members" means building trust and close emotional ties with the anchor and being willing to spend money for the anchor.

　　After the emotional story is over, there are often many people performing "fake bargaining" in the live broadcast room, and the sales are often defective products and no fakes. Many anchor performances turned against "manufacturers", letting them make profits or even take money, forcing price reduction or reproduction. For example, when they sell cosmetics, daily necessities and jewelry, they "fudge": "They buy things to help more clients solve problems in the live broadcast room", "Factory direct sales, absolute lowest price, genuine products" and "The manufacturer has put a quality guarantee of 200,000 yuan in my place, so the family can rest assured".

　　According to some users in Tik Tok, the goods they bought in the live broadcast room of emotional anchor were of poor quality, the goods were not on the right board and the after-sales service was poor. Ms. Liu, a 64-year-old citizen of Jinan, told the reporter that after the goods such as silver ornaments purchased in the live broadcast room were identified as fakes, she repeatedly contacted the customer service and never got a reply. After complaining about the incident in the live broadcast room, she was called "black powder" by the anchor, personally attacked and kicked out of the live broadcast room.

　　Recently, a survey conducted by an institution on the experience of the elderly being cheated on the Internet shows that "false advertising" is the most common risk of the elderly when surfing the Internet, accounting for more than 30%. Followed by online fraud, accounting for about 22%. Among different groups of elderly people, the proportion of elderly people living alone in rural areas who are deceived is as high as 90%. In the most common deception scene, "live broadcast, short video" is indispensable.

　　Emotional live broadcast forms a complete industrial chain, and the platform should strengthen supervision.

　　In March, Tik Tok Security Center issued the "Public Notice on Punishment for Violation of" Selling Miserable Goods and Performing Speculation ",saying that the platform has imposed penalties for violation of regulations on selling miserable goods, fabricating bizarre stories and performing hype, and some anchors mediate emotional disputes, fabricate bizarre stories and use sympathy, with the ultimate goal of bringing goods.

　　The reporter’s investigation found that the emotional live broadcast market has formed a relatively complete industrial chain from actors to scripts, from "sucking powder" to bringing goods. Some WeChat WeChat official account even have an article titled "Mai Shou Lian Manual". Mai Shou can communicate with the anchor alone or with many wheat, or find his own partner to temporarily play. The most popular plots include cheating, liking my cousin, rural plots, domestic violence and so on.

　　"widely used among anchors ‘ Family ’ Address is emotionally attractive to the audience. Most emotional anchors are biased towards ethics, family disputes, and the relationship between mother-in-law and daughter-in-law, which is extremely attractive and deceptive to middle-aged and elderly people who lack social interaction. " Zhu Guowei, a professor at the School of Business Administration of Hunan University, said.

　　"Emotional anchors sell bad hype by fabricating stories, which has a certain deceptive nature and is suspected of breaking the law." Wang Sixin, deputy dean of the Institute of Community of Human Destiny, Communication University of China, said that relevant parties should intensify efforts to rectify and purify cyberspace.

　　Chen Guanwen, a lawyer of Shandong Rizhong Law Firm, said that it is a typical price fraud to induce consumption by performing routines such as "bargaining", falsely raising the price first and then reducing the price at a loss.

　　Liu Junhai, a professor at the Law School of Renmin University of China, believes that the platform should strengthen the supervision of commodity quality and price and improve the consumer evaluation mechanism.

　　Experts suggest that the relevant regulatory authorities should improve the platform management measures and increase penalties. If the platform fails to fulfill its obligation to review the qualifications of operators, or fails to fulfill its obligation to ensure the safety of consumers, causing damage to consumers, it shall bear corresponding responsibilities according to law.

　　Wang Sixin believes that the pace of social life is accelerating, and many middle-aged and elderly people lack children to accompany them, so their emotional needs cannot be met. At the same time, they lack full understanding of new technologies and means, have poor discrimination and are easily confused. The whole society should strengthen the reminder and care for this group. In addition, consumers should actively report the fraud they find, and relevant departments should also increase the punishment for illegal acts. (Reporter Wang Yang, Pan Qiang, Xie Ying, Li Ziwei)

Huzhou Association for Science and Technology, Zhejiang Province： Grasping the Volunteer Service of Science and Technology in Agricultural Time to ＂Escort＂ Spring Farming

Since beginning of spring this year, continuous rainfall and low temperature have had adverse effects on crop growth and spring ploughing. In order to reduce the impact of meteorological disasters, do a good job in spring ploughing agricultural production, and lay the foundation for achieving agricultural efficiency, increasing farmers’ income and rural revitalization. Recently, Huzhou Association for Science and Technology of Zhejiang Province organized a volunteer service team of spring ploughing science and technology composed of agricultural science and technology personnel to go deep into fields, orchards and tea gardens to carry out technical guidance and training for spring planting, spring sowing and spring ploughing.

The first is pairing assistance to help low-income villages increase their income.Huzhou City and County Association for Science and Technology in Zhejiang Province went to Liujing Village, Hongxing Bridge, a poverty-stricken village, to deploy and arrange the work of spring ploughing and spring preparation and poverty alleviation, actively mobilize the enthusiasm of poor households, large breeders, family farms, agricultural technology associations and various agricultural operators in the village to carry out spring agricultural production according to local conditions and time, and at the same time, send more scientific and technological volunteers to the families lacking labor in the village to carry out film laying, transportation, transplanting and watering, so as to ensure the strong and orderly development of spring ploughing production.

The second is to visit and investigate, and ask for the pulse to solve the problem.Tea, as the main agricultural product of Changxing, is in the critical period of budding, which determines whether tea can be mass-produced. The low temperature and rainy days have had an impact on new buds. The Changxing County Association for Science and Technology of Huzhou City organized agricultural technicians of the county tea association to visit the main producing areas of white tea and purple bamboo shoot tea such as Shuikou Township and heping town to understand the impact of low temperature freezing on tea, and guide tea farmers to lay straw on the roots of tea, remove new buds that have been damaged by freezing, and increase water and fertilizer management to ensure tea production. In addition to tea, more than 30,000 bees in the county also suffered from low temperature and freezing injury, and the eggs laid by bees could not hatch normally, which seriously affected the spring reproduction and also affected the later honey collection. Changxing County Association for Science and Technology immediately organized the county bee industry association and beekeeping experts to visit the big beekeepers in the county one after another, to teach the experience of bee conservation, strengthen feeding management, increase the feeding temperature and honey concentration, and help improve the hatching rate of bee reproduction.

The third is training and guidance, popularizing practical technology.Huzhou Association for Science and Technology of Zhejiang Province organized technical training courses on agricultural plant protection drone operation, bayberry pest control and tea industry rural practical talents around agricultural planting and breeding, disaster prevention and mitigation, meteorological knowledge, policy interpretation, energy saving and emission reduction, etc., trained more than 500 tea farmers and fruit farmers, distributed more than 2,000 popular science materials such as "Popular Science in 24 solar terms" and "Series of Agriculture with Zhejiang Characteristics in the New Century", popularized practical technology to farmers, and promoted spring through "popular science service".

The relevant person in charge of Huzhou Association for Science and Technology in Zhejiang Province said that it is an important measure for the Association for Science and Technology to help rural revitalization by letting agricultural technicians listen to people’s voices, observe people’s feelings, know people’s opinions and solve people’s worries. Huzhou Association for Science and Technology will continue to give full play to the power of voluntary service of science and technology, build bridges between experts and farmers, promote high-quality science and technology popularization resources to go deep into rural areas and serve farmers, and contribute to rural revitalization and common prosperity. (Huzhou Association for Science and Technology,Changxing County Association for Science and Technology)

Contributed by Zhejiang Association for Science and Technology

Editor in charge: Zou Bingyang

Chinese billiards world championship： defending champions Zheng Yubo and Chen Siming advance to the second stage.

Nanchang, Dec. 12 (Xinhuanet)-The 6th Chinese Billiards World Championship of China Billiards Association recently concluded the first stage of the competition in Yushan County, Shangrao City, Jiangxi Province. Defending champions Zheng Yubo and Chen Siming advanced to the second stage.
This tournament attracted 496 players from 41 countries and regions to participate in Yushan, and the number of participants reached a new high. It is the largest Chinese billiards competition in the world. The race is divided into two stages. The first stage is divided into domestic men’s team, international men’s team, domestic women’s team and international women’s team, and the top 32 men’s team and the top 16 women’s team are produced by the double-loss elimination system.
The competition in the domestic men’s team is fierce. Zheng Yubo, who aims to win three consecutive championships, and john young, the champion in 2017, and other famous players have lost in succession, but they still narrowly missed the top 32. Shi Hanqing, winner of the 2016 tournament, and Zheng Xiaohuai, winner of this year’s International Open, were eliminated early. Wattana, the champion of the first year of the tournament, led the international men’s team to advance to the lineup, and the Thai ball king regretted saying goodbye.
All the four champions in the first five competitions appeared in the domestic women’s team, Chen Siming advanced in two consecutive games, Fu Xiaofang broke through successfully, and Dove and Han Yu were both defeated. Natasha Chetan, a 15-year-old Indian teenager, advanced to the second stage with outstanding performance in the international women’s team and became a dark horse in this competition.
The second stage of the race began on the 12th, and the single defeat elimination system was adopted. According to the schedule, the women’s team will decide on the 15th and the men’s team will win on the 16th.
Reporting/feedback

The table tennis World Cup will be held in Macau, China.

The ITTF announced that the men’s singles World Cup and the women’s singles World Cup will return at the same time, and the competition will be held in April, 2024 in China and Macau Galaxy Variety Hall.

Liu Guoliang, Chairman of the Board of Directors of WTT World Table Tennis Federation, First Vice Chairman of ITTF and Chairman of China Table Tennis Association, said: "In April next year, the men’s and women’s singles World Cup will return to Macau, and table tennis fans from all over the world are welcome to gather in Macau again."

(Beiqing Sports)

Reporting/feedback

Looking back on what they wore in the last century, we know that fashion is a reincarnation, and their clothes are all too foreign and beautiful.

Most people know that fashion is a circle, but it only ends on the surface. For the public, we can only deeply understand this sentence by seeing those fashionable clothes of the last century, and we can also find that many clothes of the last century are really fashionable and are not out of date now.

In this issue, we will review the clothes worn in the last century. After reading it, we will know that fashion is a reincarnation, and their clothes are too foreign and fashionable. Let’s take a look!

Compared with the present, many items in the last century are too unique. Whether it is a suit with irregular design, a silhouette coat, a shoulder pad suit, a leather coat, or bell bottoms, all of them reflect the unique aesthetics and taste of fashion icon in the last century.

Small suits with irregular waist design are the first choice for hipsters’ concave modeling, which not only closely follows the waist line and wears a small waistline, but also further weakens the width by using the height difference to hold the temperament model in minutes.

Going out of the street is like a catwalk. In 2023, it is also a very exotic fairy single product. Who would have thought that it would have appeared in the closets of beautiful women in the last century?

Fashion is developing, but classics are hard to go out of date. No matter how many times you watch it, it will still be beautiful by big-profile suits and coats.

This kind of silhouette suits and coats are designed with shoulder pads, and the shoulders are wide, so they are casual and chic, and they are not petty at all. Presumably, this is why silhouette suits and coats are still very popular today.

Fashion items are updated quickly, and people can’t go out when they buy a dress for two winters. Who would have thought that the long coats and leather coats with waists in the wardrobes of those beautiful women in the last century would be elegant and elegant to wear out now?

Look at the beautiful women above. The long coat with narrow top and wide bottom not only shows a small waist, but also adjusts the proportion of the body. It is also a fairy single product that releases the temperament.

Retro style is popular in fashion circles, which also proves that classics are difficult to be eliminated. In fact, if you look closely, you can find that wearing in the last century is yyds.

Not only do these fashionistas choose some unique tailoring and designs to show their fashion temperament, but also because they rarely follow the trend, dressing and dressing are not blindly imitated, and everyone adds their own thinking to their clothes. This is the real fashion.

Moreover, many retro clothes seem to be old and too far away from us, but in fact, many retro clothes are really bold, distinctive and sexy. All kinds of low-cut clothes can’t be worn out at the moment. Back in those days, it was very common.

The use of color in retro style is also bold and clear, far from the idea of color matching with clear soup and little water, and many shapes are added by color matching.

Retro red with distinctive foreign flavor and low profile, or warm and fashionable yellow and orange, or retro green and purple, these colors have a high appearance rate in the last century.

Retro wear that is also very foreign in the moment is of great reference value to the public. Let’s take a look!

1. Blue jeans

Jeans are not only popular in the last century, but also the strength of contracting the winter fashion in 2023. Who hasn’t had a few pairs of jeans in the closet?

Look at those hipsters in the 1980s and 1990s. At that time, I knew that jeans or straight style were the most attractive and neat. With short suits, they were charming without losing style.

2, plaid items

Fashion is a circle, and plaid, the representative element of retro wear, is equally classic, but plaid coats and wide-leg pants are surely not lacking in many Jimei wardrobes.

From the 1980s and 1990s to 2023, plaid coats and trousers are well-deserved temperament items, which are retro and fashionable without losing the British flavor.

3, overlapping modeling

I don’t think that overlapping wear is a dressing skill that is only popular now. Look at wearing in the last century. Overlapping wear has long been the specialty of these fashion icon.

Choose straight-line suits and coats to wear knitted cardigans, the materials are in contrast, and with neutral wind color matching or retro wine red color system, it is difficult to think of temperament.

4, below the knee skirt+leggings

Knee-length long skirts are particularly popular with fashionistas in the 1980s and 1990s. With leggings and grandma’s shoes, they are not only elegant and decent, but also particularly feminine. In 20 years, you will not be as good as them in dressing up.

Conclusion: Fashion is a reincarnation. We can understand this more clearly when we see the clothes worn in the last century. In 2023, we can still learn from these retro clothes and win elegance and high quality!

This article was originally created by Tiger Brother, and the pictures are all from the Internet. If there is any infringement, please contact to delete it. If you need to reprint it, please indicate the source, and plagiarism will be investigated! # Winter Life Punch Season #

Swimming never becomes proficient. Six pictures convince yourself that you can swim.

Figure 1 moves:

If you are under 6 months old, you can try it after reading the first one.

At this time, you have a skill called "swimming reflex". Put you on your stomach in the water, and when you are immersed in the water, you will paddle your limbs and subconsciously hold your breath, so your body will gain more buoyancy; You will stick to floating for a while, which is conducive to the rescue.

When you get older, the swimming reflex disappears, but it is an indicator of the normal development of the nervous system.

Figure 2 moves:

You will automatically hold your breath because there is a special valve in your throat at 6 months old. Now, you are sexually mature, and somehow you can’t always learn to hold your breath. When you get into the water, you will be so nervous that you will gulp water. If you just don’t mind the beauty of swimming and are in a hurry, I suggest you practice the dog-planing stroke immediately.

Hold your head high, lift your head to the position where your nose and mouth can be exposed to the water, and press the water alternately with your limbs to maintain a sense of rhythm. You can try some rhythms of stepping on some songs you like, so that people standing on the shore look ugly but at least have a good rhythm.

Figure 3 moves:

If you sincerely want to learn swimming, breaststroke! Stable posture, relaxed and lasting strength, and very high practical value.

Draw your arms to your chest and hold the water underwater, support your upper body rhythmically for rapid ventilation, and kick your legs backwards in imitation of frog posture. The details of your legs are as follows: 1. Separate to both sides. Step 2 straighten. 3. Then pinch the water inward.

Figure 4 moves:

But whether you watch sports news or idol drama, if you want to be cool and crazy, you should forget all the above three pictures. Freestyle is really worth learning. Compared with butterfly swimming, it is grandiose and ungrounded. It is low-key and luxurious, which allows you to bring your own aura and help you become a dazzling white strip in the swimming pool.

The body is prone on the water surface and streamlined. During the exercise, the head is kept stable, and the trunk rotates rhythmically around the longitudinal axis of the body for about 40 degrees, and the head is ventilated at this angle.

The action of kicking is basically to maintain the balance of the body, not the core power.

The main driving force of freestyle is in hand.

Then. . .

speed up

From these practical skills, you should have become an excellent swimmer now, and then you can show your swimming skills confidently!

All sides support Shuila, and I’m afraid it will depreciate again in the future. This is the Lakers.

Suddenly, there were more topics about Russell of the Lakers. ESPN reporter A- Smith bluntly said that Russell’s annual salary should be at least 25 million dollars, and Beverly even said that Russell would lose money if he didn’t sign a contract of 100 million dollars. However, Russell only reached a contract of 37 million dollars for two years this summer.

Russell’s contract renewal with the Lakers caused a sensation as soon as it was exposed. Before that, Russell insisted on paying hundreds of millions of dollars, which was unimaginable. But the question is, so many people support Russell, but the fact is that Russell is only willing to sign this two-year and 37 million contract? The reality is very cruel. After a baptism in the playoffs, Russell’s performance made his worth plummet, and no team in the market was willing to offer him a contract, let alone hundreds of millions of contracts.

Russell’s presence on the Lakers’ guard line has complicated the work of others, so it is necessary for the backcourt players who partner with him to share the defense for him, and even the whole team should make up for his loophole. Russell’s attack is also unstable, and wave shots often appear, which is one of the reasons why he was abandoned by the Lakers in the playoffs last season. The Lakers left him mainly in the hope that he could share the organizational pressure for James, with multiple holding points but without much hope.

This summer, the Lakers have done a good job in signing, bringing in many important role players, especially Vincent in the backcourt, which is definitely a threat to Russell. Vincent is a defender who has been certified in the playoffs and played in the finals. After the smooth running-in with the Lakers in the new season, it is highly probable that Russell’s position will be disintegrated, so I am afraid that Shuila will be a substitute in the new season, so it will be a new round of depreciation to meet Shuila.

In this era of defender blowout, it is not difficult to find a point guard of this level, and the defender is not the winner of the championship. A strong front line-up is the basis for winning the championship. Besides, Shui La, a point guard, doesn’t belong to him at all in the playoffs, so so much solidarity is more like an insult to Shui La. After all, he is really worthless.

The last Lakers point guard named Russell dropped directly from the top salary of more than 40 million yuan to the basic salary. Although there are reasons for your love and desire, you can’t deny the influence of the Lakers. Now it’s not easy for Russell to renew his contract with the Lakers, and it’s reasonable for his value to fall again. At present, the most ideal solution for Russell to keep his value is trading, but his future is also confused.