标签： 南京品茶交流

July 8, 2023 National Insurance Public Awareness Day

　　After more than a year of suspension of trading on the Hong Kong Stock Exchange, on the evening of July 17, China Evergrande reissued its 2021 annual report, 2022 semi-annual report and 2022 annual report one after another, and the outside world finally got a glimpse of its financial situation. Although the market has long expected Evergrande’s liabilities and losses, when a series of figures really come into view, it is still staggering.

　　According to the performance report disclosed by China Evergrande, the company’s net loss in 2021 and 2022 was 686.22 billion yuan and 125.81 billion yuan respectively, and the net loss in two years totaled 812.03 billion yuan. At the same time, China Evergrande has fallen into an insolvent situation. The total value of its assets held at the end of 2021 and 2022 was 2.11 trillion yuan and 1.84 trillion yuan respectively, and the total amount responsible was 2.58 trillion yuan and 2.44 trillion yuan respectively.

　　According to Wind data statistics, in all 110 class A share listed housing enterprises, in 2021, 23 housing enterprises with negative net profit suffered a total loss of 118.16 billion yuan; in 2022, 35 class A share listed housing enterprises with negative net profit suffered a total loss of 122.57 billion yuan. Dozens of housing enterprises lost far less than China Evergrande.

　　"The company takes stable management and risk management as its top priority, and actively promotes the work of the guaranteed building with the greatest efforts. It has won the understanding and support of various parties, including local governments, upstream and downstream enterprises." China Evergrande said in its financial report that the company achieved full resumption of work on 732 guaranteed building projects in 2022, and a total of 301,000 sets were handed over throughout the year. At the same time, Evergrande Automobile achieved the mass production and delivery of the "Hengchi 5" model.

　　Looking to the future, China Evergrande further stated that it will make every effort to ensure the steady and orderly progress of key work such as "Baojiao Building", do a good job in the sustainable operation of new energy vehicles, property services and other sectors, explore the efficient disposal and effective revitalization of the company’s core assets, and steadily promote risk mitigation.

　　On the one hand is the beautiful vision described in the financial report, and on the other hand is the huge financial "black hole" in reality. The future direction of China Evergrande is not only related to the interests of thousands of enterprises in its entire ecological chain, but also affects the hearts of all parties. According to recent news from China Evergrande, the company will hold a number of restructuring debt holders’ meetings on July 24-25, and overseas workouts may usher in clear results.

　　Debt at the end of 2022 is about 2.44 trillion yuan

　　From the perspective of income, in 2021, China Evergrande achieved revenue of 2500.1 billion yuan and gross profit of 18.45 billion yuan. The total net loss for the year was 686.22 billion yuan, of which the operating loss was 113.75 billion yuan, and the losses related to land recovery, impairment losses of financial assets and other non-operating losses were 180.20 billion yuan.

　　In 2022, China Evergrande realized revenue of 2300.7 billion yuan and gross profit of 24.99 billion yuan, from negative to positive. The total net loss for the year was 125.81 billion yuan, of which the operating loss was 43.39 billion yuan, and the loss related to land recovery, impairment loss of financial assets and other non-operating losses were 69.37 billion yuan.

　　In terms of assets and liabilities, as of the end of 2021, China Evergrande held total assets of 2.1071 trillion yuan, net assets – 473.05 billion yuan; total liabilities were 2.58015 trillion yuan, excluding contract liabilities of 974.35 billion yuan was 1.6058 trillion yuan, of which loans 607.38 billion yuan, trade accounts payable and other payables 893.34 billion yuan (including 585.01 billion yuan payable for engineering materials), other liabilities 105.09 billion yuan.

　　As of the end of 2022, China Evergrande held total assets of 1.83834 trillion yuan, net assets – 599.07 billion yuan; total liabilities of 2.43741 trillion yuan, excluding contract liabilities of 721.02 billion yuan is 1.71639 trillion yuan, of which 612.39 billion yuan, trade accounts payable and other payables 1.00226 trillion yuan (including engineering materials payable 596.16 billion yuan), other liabilities 101.74 billion yuan.

　　It can be seen that trade payables and other payables account for the majority of China Evergrande’s external liabilities, reflecting China Evergrande’s arrears to upstream and downstream suppliers, contractors and partners during the real estate development process. At the same time, as of the end of 2021 and 2022, China Evergrande’s cash assets were only 5.435 billion yuan and 4.334 billion yuan respectively.

　　Overseas workout or welcome new progress

　　Regarding the overseas workouts that are concerned by all parties in the market, China Evergrande also mentioned in the performance report.

　　"In line with the principle of respecting international restructuring principles, treating the existing rights and demands of all creditors with justice and fairness, the company and its advisory team have continued to conduct in-depth and detailed consultations with overseas creditors, and have carried out multiple rounds of communication on the details of the restructuring plan, and steadily advanced the formulation of the overseas debt restructuring plan." China Evergrande said that with the support of overseas creditors, the company obtained the approval of the Hong Kong High Court to postpone the liquidation petition hearing.

　　On the night of the release of the performance report, China Evergrande simultaneously disclosed the latest news of an overseas workout: from July 24 to 25, 2023, multiple hearings will be held in the High Court of Hong Kong, the Grand Court of the Cayman Islands, and the High Court under the Eastern Caribbean Supreme Court to vote on the overseas workout plan disclosed by China Evergrande on March 22 this year. If it fails, Evergrande is likely to face forced liquidation.

　　Since March 21, 2022, China Evergrande shares have been officially suspended from trading. At present, China Evergrande shares continue to be suspended. According to the relevant regulations of the Hong Kong Stock Exchange, the Hong Kong Stock Exchange can order listed companies that have been suspended for 18 consecutive months to delist. There are still two months left for China Evergrande.

　　Auditors remain "unable to comment"

　　It is worth mentioning that in the overseas workout plan in March, the unaudited financial information disclosed at that time showed that as of the end of 2021, China Evergrande’s total liabilities were 1.898 trillion yuan, a gap of nearly 700 billion yuan from the latest 2.58 trillion yuan.

　　And even with such a huge financial "black hole", after replacing the original auditor, PricewaterhouseCoopers (i.e. PwC), the new auditor, Shanghai PricewaterhouseCoopers, still believes that there are a number of uncertainties in China Evergrande’s continuing operation, and it cannot obtain sufficient audit certificates for the comparison of the opening data. Therefore, it has issued "no opinion" reports on its 2021 and 2022 annual reports.

　　"A large and high-quality land bank is a solid foundation for the group to guarantee the property, gradually pay off debts and resume normal operations." Even after handing over the huge loss and unaudited "books", China Evergrande’s statement in the earnings report appeared confident.

　　Data show that by the end of 2021, China Evergrande had a land reserve of 260 million square meters and participated in 93 old renovation projects, including 66 in the Greater Bay Area (39 in Shenzhen) and 27 in other cities; by the end of 2022, China Evergrande had a land reserve of 210 million square meters and participated in 79 old renovation projects, including 55 in the Greater Bay Area (34 in Shenzhen) and 24 in other cities.

　　Policy development promotes stable and healthy market development

　　Yan Yuejin, Chief Research Officer of E-House Research Institute, believes that China Evergrande’s "insolvent" is not only related to its own operational problems, but also to some extent related to the adjustment facing the industry. For the real estate industry, many problems take a long time to effectively resolve.

　　In fact, since the fourth quarter of last year, relevant departments have made concerted efforts from both the supply and demand ends to launch various support and relief policies. Many research opinions believe that although the current real estate market recovery is still facing many disturbances and uncertainties, the trend of bottoming is gradually emerging. With the combined efforts of the policies of both the supply and demand ends, it will continue to create favorable conditions for the overall risk resolution of high-quality real estate enterprises and the industry, and will also play a positive role in protecting investor confidence and safeguarding the rights and interests of home buyers.

　　Zou Lan, director of the Monetary Policy Department of the People’s Bank of China, said at the press conference of the State Information Office recently that considering that the supply and demand relationship of the real estate market in our country has undergone profound changes, there is marginal optimization space for the policies introduced in the long-term overheating stage of the market in the past, and the financial sector will actively cooperate with relevant departments to strengthen policy research.

Apple’s 128GB iPhone also has plenty of room for controversy. How much storage do you think is enough for the phone？

Fast Technology reported on March 19th that today, Apple released a promotional video with the theme of "iPhone 15 Storage | Don’ t Let Me Go".

In the video, a man is considering deleting some photos of his mobile phone. At this time, BGM plays the song "Don’ t Let Me Go", and at the end of the video, "Plenty of space to store a large number of photos" appears.

Simply put, Apple wants to show that even the 128GB iPhone15 can have "ample space to store a large number of photos" through cloud storage.

The video quickly caused a heated discussion among netizens and big V bloggers, and many people also questioned it.

Some netizens and bloggers said, "My iPhone uses 338G of native space+＋939G of cloud hosting … Do you tell me that 128G is enough?" "If I didn’t use it myself, I would really believe it." "Do you want to face it, 128 to 256 plus 1000 yuan, or ask someone to buy cloud hosting? Can the experience of cloud hosting be the same as that of a large flash memory space?" Wait a minute.

It is understood that the price of iPhone 15 128GB is 5,999 yuan, that of 256GB is 6,999 yuan, and that of 512GB is 8,999 yuan. On average, every 128GB of storage requires 1000 yuan.

How much storage space do you think is enough for your mobile phone? How much storage space does your mobile phone have now?

According to media voting, before the deadline, a total of 108,000 people voted, 48,000 people chose 256GB, 33,000 people chose 128GB, and 5,961 people chose 1TB.

Guarding ＂Children from the Stars＂

Red Net Moment Loudi February 21st(Correspondent Zhou Junliang) Recently, the police of Wanbao Police Station of Louxing Branch of Loudi Public Security Bureau successfully helped a lost child find his family and guarded a "child from the stars".
At 10 o’clock on February 19, the Chengnan Police Office of Wanbao Police Station of Louxing Branch of Loudi City Public Security Bureau received an instruction from the police station: "A child was lost near Jing ‘an Street in Loudi City, and asked the Chengnan Police Office to help find it." After receiving the alarm, the police contacted the alarm person for the first time, and while calming the family’s emotions, they learned in detail the physical characteristics of the lost child and the specific location before the loss. Because this 5-year-old boy suffers from severe autism, he doesn’t like to communicate with others and won’t take the initiative to seek police help, which adds a lot of difficulty to finding a job.
After arriving at the lost scene, the police and auxiliary police continued to expand the search scope centering on the lost place of the children through the combination of walking patrol and car patrol, and launched a "carpet search" in the areas where the lost children may appear, and kept in touch with the police station and other service personnel.
Hard work pays off. After nearly an hour of searching, the police finally found the lost children near a certain community. At that time, the child was running back and forth on the road. Due to the heavy traffic, police officers Zhou Junliang and Li Weiqing rushed to stop the child’s behavior and avoid traffic accidents. After that, the police took the little boy away from the road and asked about his family. During the inquiry, the little boy was emotional and unwilling to cooperate. Afterwards, the police immediately contacted the parents, and after asking and comparing again, it was determined that the little boy was the lost child. The police took the child back to the police office and handed it over to the parents. When leaving, the police repeatedly told parents that they must take good care of their children.
Police warm reminder
Parents should do the following when taking their children out to prevent their children from getting lost.
1. Keep the child in sight: Please hold the child in your hand or in your arms and pay attention to it in places where there are many people.
2. Try to prevent children from going out alone: children are young and do not have the ability to protect themselves, so it is best to have a guardian when they go out.
3. Teach children some common sense of self-help: For example, don’t panic when you are lost with your parents, you should immediately ask for help from nearby staff or police, and don’t just walk with strangers.
4. Let the children carry the contact information card with them: put a card on the young children and write down the parents’ names, contact numbers and other information. Once the child is lost, it is convenient for the police to get in touch with the parents.
5. Call the police in time in case of emergency: If you find that your child is lost, you should call the police at the first time and ask the nearby police for help.
6. For children in special circumstances, please be more patient and caring, guide, appease and accompany them, and help them find their families in time.
Reporting/feedback

In 2023, China’s automobile export destination TOP10 was released, and Britain actually ranked fifth.

　　[CNMO News] In 2023, China became the world’s largest automobile exporter for the first time. Then, do you know where Chinese-made cars are mainly exported? According to CNMO, in 2023, Russia will be the largest destination for China’s automobile exports, and in addition, Britain will rank fifth, which is probably beyond many people’s expectations.

Automobile exit
Automobile exit

　　Recently, some organizations have counted the TOP10 destinations of China’s automobile exports in 2023 and previous years. In 2023, China’s total automobile export volume was 5,222,600 vehicles (inconsistent with the official data of "4,910,000 vehicles", but it did not affect the TOP10 ranking), with the largest export volume in Russia, followed by Mexico and Belgium. In addition, Australia and Britain have also entered the top five, and the export volume of the two regions is basically the same. Saudi Arabia, the Philippines, the United Arab Emirates and Spain also entered the top ten. Different from the inherent impression in many people’s minds, many of the TOP10 automobile exports are developed countries.

China Automobile Export Data (Tuyuan. com)
China Automobile Export Data (Tuyuan. com)

　　Looking back on 2017, Iran, the United States and Japan were the top three destinations for China’s automobile exports. In addition, Germany, Mexico, Britain, India and Russia were among the TOP10 in that year.

　　According to authoritative data, in 2023, China’s automobile production and sales exceeded 30 million vehicles for the first time, and the production and sales reached 30.161 million vehicles and 30.094 million vehicles respectively, up 11.6% and 12% year-on-year, reaching a record high and ranking first in the world for 15 consecutive years. Meanwhile, in 2023, China exported 4.91 million vehicles, up 57.9% year-on-year, ranking first in the world for the first time.

Reporting/feedback

Mr. Su reads history.

https://www.toutiao.com/a6702636771290645005/? tt_from=weixin&utm_campaign=client_share&wxshare_count=1×tamp=1586643731&app=news_article&utm_source=weixin&utm_medium=toutiao_ios& req_id=202004120622110100260772100089963B&group_id=6702636771290645005

1. The Xia Dynasty (about 2070- 1600 BC) was the first dynasty, which lasted for nearly 440 years. The main activity area was the middle and lower reaches of the Yellow River, which was equivalent to Shanxi, Henan and Hebei today.

2. Shang Dynasty (about 1600 BC-about 1046 BC)

3. Zhou Dynasty (1046-256 BC)

4. Qin Dynasty (221 BC-246 BC) In 221 AD, the Qin Dynasty destroyed six countries and established the first unified centralized dynasty. The Xiongnu and Donghu nationalities were in the north, but they had not yet contacted the western regions.

5. Western Han Dynasty (202 BC-8 AD) The Han Dynasty is now Xinjiang. The forces of the Western Han Dynasty entered the Korean Peninsula and incorporated half of its territory into China.

6. In the Eastern Han Dynasty (25-220), the war between the Han Dynasty and the northern Xiongnu continued, and after that, the Xiongnu split internally, and Xianbei took advantage of it to occupy all parts of Xiongnu.

7. The Three Kingdoms (220-265) In 220 AD, Cao Pi called Wei Di, in 221 Liu Bei called Han Di, and in 222, Sun Quan established the year number, which became the trend of the three kingdoms. The combined area of these three countries is the area of the Han Dynasty, of which Wei is the most powerful.

8. The Western Jin Dynasty (A.D. 266-A.D. 316) wiped out Wu in the West, ending the tripartite confrontation between the three countries.

9. Eastern Jin Dynasty (317-420)

10. The Sui Dynasty (581-618 or 619) ended the division for more than 400 years and reunified the whole country.

11. The territory of the pre-Tang Dynasty (618-907) shows that the Tang Dynasty was powerful at that time, and the development of the western and northern territories has surpassed any dynasty. In the late Tang Dynasty, the territory shrank greatly, and Tufan reached its peak, which was a great threat to the Tang Dynasty.

12. Five Dynasties and Ten States (907-979)

13. Northern Song Dynasty (960-1127) Among the major dynasties in China, the Song Dynasty was the smallest.

14. Southern Song Dynasty (1127-1276) During the Southern Song Dynasty, Mongolia rose, and soon it will wipe out the Asian powers and establish an unprecedented Mongolian empire. The dynasty established by Temujin can be said to be endless, and the iron hoof of the Yuan army has almost traveled all over Asia, and human beings have been unable to stop the pace of the Yuan Dynasty. The four Han dynasties in the picture all obeyed the emperor of the Yuan Dynasty and were under the control of the central government.

Baseball home runs are increasing or partly due to global warming.

In recent years, the number of home runs in American baseball games has increased obviously, which is rumored by baseball circles to be related to the rising temperature. American researchers recently used data to speak, confirming that this statement has some truth. They estimate that global warming has helped major league baseball batters hit an average of about 50 more home runs each year.

Home run refers to the attack method that the batter runs through the first, second and third bases in turn and returns to home plate safely after hitting the ball from the other side. It is a very wonderful climax moment in the baseball game. According to NBC, from the beginning of American professional baseball in the late 19th century to 1993, there was only one season when each team hit more than one home run per game. Since 1994, only four seasons have not seen such a "grand occasion". In the history of professional baseball league, the top four seasons of home runs all appeared in 2017 and later years.

Researchers at Dartmouth College in the United States said in a peer-reviewed paper published in the latest issue of Bulletin of American Meteorological Society that they analyzed 100,000 games and more than 200,000 balls played by Major League Baseball from 2010 to 2019, and combined with weather conditions, stadium and other factors, they found that the probability of hitting a home run increased by 1.8% when the temperature rose by 1 degree Celsius.

According to data from the National Oceanic and Atmospheric Administration, the average temperature in June, July and August in the United States has increased by 1.1 degrees Celsius in the past 40 years.

According to researchers, the physics behind the relationship between temperature and home run is simple: when the temperature rises, molecules move faster and farther away from each other, thus reducing the air density, reducing the flying resistance of baseball and making it fly farther.

However, according to researchers’ estimates, from 2010 to 2019, climate warming made about 500 home runs, accounting for only 1% of all home runs. In contrast, non-climatic factors have a greater impact. Allen Nathan, a physicist at the University of Illinois, believes that the biggest factors are the ball itself and the stitching, as well as the batter’s physical quality, pitching angle and speed.

The researchers found that the impact of climate warming on home runs also varies from venue to venue. Home runs are more likely to occur in outdoor venues during the day than in dome stadiums where games are held at night.

The researchers also established a model to estimate the impact of different degrees of warming on home runs. Under the worst-case scenario, by 2050, there will be about 192 home runs in the United States every year, and by 2100, the number will increase to about 467. In a milder situation closer to the current climate change, by 2050, climate warming will promote about 155 home runs every year, and by 2100, this number will increase to about 255.

Source: CCTV news client