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Wang Jianlin does not leave the card table

Near the end of the year, Wanda’s news was frequent. First, Wanda Film was completely sold, and then there were rumors that Zhuhai Wanda Commercial Management would transfer Wanda Plaza in first- and second-tier cities.

A few years ago, Wanda, which had "sold off" Wanda Cultural Tourism and Wanda Hotels, and had a strong man break his wrist, is now going to "cut off his arm" again, but this time the situation he has to face is more dangerous than before.

However, this housing leader, who was the first to face the real estate industry’s storms, is still on the table despite years of difficult mediation and repeated broken arms to survive.

Unfortunate, but fortunate.

Because compared to several other giants that have been blown away by the rain, it is undoubtedly much more decent.

one

Wanda’s deadline is only more than 20 days away.

According to the gambling agreement, if Zhuhai Wanda Commercial Management cannot complete the listing within the year, it will pay a total of 38 billion yuan in cash and interest due at the end of the year to repurchase the shares in the hands of investors.

This year is already the third year that Zhuhai Wanda Commercial Management has impacted the Hong Kong IPO. In June this year, Zhuhai Wanda Commercial Management has also submitted a prospectus for the fourth time.

Now, with only 20 days left until the end of the year, the chances of going public are slim.

Legend has it that the plan for listing extension has also been rejected, and the rest may only be paid 38 billion this way.

In addition to the well-known listing crisis, Zhuhai Wanda Commercial Management also faces considerable performance pressure.

Previously, Zhuhai Wanda Commercial Management has made performance commitments to Tencent, Ant, CITIC Capital and other investors.Commitment to the period from 2021 to 2023, the actual net profit will not be less than 5.19 billion yuan, 7.43 billion yuan and 9.46 billion yuan respectively.

If the performance does not meet the target, Zhuhai Wanying, a shareholder of Dalian Wanda Commercial and Zhuhai Wanda Commercial Management, will transfer the relevant amount of shares at zero consideration or pay cash to investors to compensate investors.

However, Zhuhai Wanda Business Management’s net profit in 2021 was 3.512 billion yuan, which did not meet the target. The net profit in 2022 was 7.534 billion yuan, which is only just reached the target.

So in the coming 2023, can the goal of net profit of 9.46 billion yuan be achieved? It is difficult to say.

After all, Wanda can’t even take out 600 million dollars now.

At the end of November, Wanda Commercial Management announced on the Hong Kong Stock Exchange that it plans to roll over a $600 million bond due in January 2024.

Fortunately, the plan was quickly approved by bondholders in less than two weeks, and the investor support ratio reached 99.3%.

The plan can be passed so quickly,Part of the reason is that compared with other real estate companies, Wanda’s extension plan seems more "conscientious". The extension time is only one year, which is not too long, and it will be paid off in four installments within the year.If creditors agree in advance, the total consent fee of 1.24% is also higher than the 1% common to other housing companies.

Another part of the reason is that Wanda’s business operations are still good, especially Wanda Plaza. In the first half of 2023, Wanda Plaza opened 12 new ones, with a total of 484 openings. The total rental income was 26.32 billion yuan, an increase of 4.5% year-on-year, and the net rent was 13.01 billion yuan, an increase of 7.2% year-on-year. At the same time, Wanda Plaza’s rental rate was 98.2%, and the rent collection rate was 100%.

Even with the rent of Wanda Plaza, the 600 million dollars is only a matter of time. But the problem is that Wanda Plaza has now become one of the chips for Wanda to put on the table.

Recently, news has leaked that Wanda Commercial Management has revealed in the process of communicating with investors that the group is currently willing to sell Wanda Plaza in first- and second-tier cities in exchange for liquidity, and is still negotiating with insurance institutions.

Further specific rumors are that a major insurance company is about to acquire Shanghai Jinshan Wanda Plaza, which has been inspected on the spot and has passed the negotiation period. Another Shanghai Maqiao Wanda Plaza is also in the transfer of shelves, and the management is still picking.

Although the dust has not yet settled, Wanda has sold five Wanda plazas in succession this year, so the rumors are indeed quite credible.

Wanda, which held a lot of high-quality assets, was now playing cards one by one in order to pass smoothly before the end of the year, and Wanda Plaza was just one of them. After all, the day before the rumors of Wanda Plaza appeared, Wang Jianlin had just completely changed hands with Wanda Film.

In the past year, Wang Jianlin has transferred the equity of Wanda Film three times. Although the selling price has been lower each time, Wanda Film has been firmly in Wang Jianlin’s hands.

Until this time,Wang Jianlin will Beijing Wanda investment 51% equity, at the price of 2.262 billion yuan transferred to Shanghai Ruyi Investment Management Co., Ltd., Wanda Film also completely sold.

What few people know is that Shanghai Confucianism is actually inextricably linked to real estate.

Behind Shanghai Ruyi is China Ruyi, formerly known as Hengteng Network. Hengteng Network was originally invested by Tencent and Evergrande, and later Tencent withdrew its investment. But after Evergrande fell into the debt crisis, it sold its shares one after another, and Tencent became the largest shareholder of Hengteng Network, which was later renamed China Ruyi.

After Wanda encountered a crisis, Confucianism became the snake that swallowed the elephant, Wanda Film, with the support of Tencent.

In the film industry, Wanda Film is a veritable "elephant". In the first three quarters of this year, Wanda Film’s performance reversed the trend, with operating income reaching 11.35 billion yuan, an increase of 47% year-on-year. Net profit also turned into profit, and profit 1.104 billion yuan.

It can be said that Wanda Film is one of Wanda’s veritable high-quality assets. For Wang Jianlin, who has always wanted to make Wanda Film "Hollywood in China", this sale is helpless.

Once upon a time, Wang Jianlin could withstand the doubts of 99% of investors, and went into the film industry with his own will. With the goal of "China’s first" and "world’s first", he frantically acquired Hollywood production companies to seize the market, and once achieved the world’s largest cinema market share.

But now, unable to withstand the pressure of reality, Wang Jianlin decided to cut off his arm and completely cut off the film business.

Wang Jianlin finally bowed his head to reality.

two

From being the richest man in China, to becoming the first "negative" in China, to raising 600 billion successfully slimming through the crisis in three years, becoming the richest man in real estate again, and now, having to run around again to raise money, Wang Jianlin has tasted the ups and downs that many people will never experience in their lifetime.

From 2015 to 2016, Wang Jianlin was the richest man in China on the Hurun Rich List for two consecutive years, with a net worth of nearly 220 billion yuan.

However, such a huge asset, built on perennial loans and debts, was like a bubble, bursting with a poke. In 2017, Wang Jianlin and Wanda’s debt ratio had reached 70%, and according to the disclosed information, Wang Jianlin had loaned more than 400 billion yuan to banks at that time.

At this time, the market has gradually cooled, coupled with the failure of overseas investment, Wanda’s vitality has been greatly damaged, and Wang Jianlin’s debt has soared to 600 billion yuan, suddenly becoming China’s first "negative".

In order to pay off the 600 billion yuan debt, Wang Jianlin began a crazy sale.

The prologue is the rumor that once talked about "breaking the cup" and the "great merger of the century" with total assets exceeding 63 billion yuan.

In 2017, Wanda sold 13 of its highly anticipated cultural tourism projects to Sunac China for 43.844 billion yuan, and 77 of its hotels to R & F for 19.906 billion.

Although the deal could be said to be a fire sale in terms of price, it successfully helped Wanda reduce its leverage, reduce its debt, obtain cash flow, and temporarily recover from the loan crisis.

Then, Wang Jianlin’s pace of selling assets never stopped. First, he sold Wanda Plaza in Jiujiang, Nanchang, Yancheng and other places in China to Pearl River Life Insurance. Later, he publicly stated that he would put his main investment in China and gradually liquidated overseas real estate projects.

Wanda first sold the Spanish mansion it bought in 2014 for 265 million euros for 272 million euros, losing nearly 200 million yuan in exchange rate changes. It later sold the much-anticipated Wanda London ONE project for about 59.35 million pounds, followed by two projects in Australia’s Gold Coast, Sydney and Chicago properties.

In 2018, Wang Jianlin resold shares in Wanda Commercial and Wanda Cinemas. Subsequently, AMC, the world’s largest cinema chain, which Wanda had invested a lot of effort in, was also reluctantly parted ways, and its shares were gradually sold by Wanda.

In May 2021, Wanda fully withdrew from the board of directors of AMC, retained only a minority stake, and accumulated $1.476 billion in funds, and Wanda gradually recovered from the "embarrassment".

However, in 2022, Wanda, which had recovered, quickly began to invest on a large scale, making great strides in the sluggish real estate market, and the shadow of high debt once again struck.

However, compared to the major private developers who either disappeared completely behind closed doors or ran away directly, Wang Jianlin has always appeared in the public eye, running around for Wanda, giving many people confidence.

Since the beginning of this year, Wang Jianlin has sold his own stocks many times, and returned 7 billion cash to Wanda to return blood, so that several maturing bond payment problems have been solved.

But in a recent public appearance, Wang Jianlin, who is so skinny, suddenly made people realize that Wanda was no longer the Wanda who was full of Wang fried, and Wang Jianlin was no longer the ambitious "white knight".

Five years ago, Wanda could still sell Wanda Hotels and Wanda Cultural Tourism. But now, after the sale of Wanda Film, Wanda, which focuses on "light assets", seems to have no more cards to play.

The Wanda Group, which was about to lose weight, was left with only a worried Wang Jianlin.

III. Conclusion

Looking back, Wanda used to diversify through crazy mergers and acquisitions and reached its peak, but it was burdened by diversification overnight, began to lose weight, and turned to an asset-light model. Now, after repeatedly breaking arms to survive, it has become more and more "light".

It was precisely in response to what he wrote in his own hand back then, "After years of business wars and wealth, everything has always been in vain."

However, as long as he didn’t leave the card table, even if he was facing a huge crisis now, even if he had to cut off his arm to survive, why not?

Living is more important than anything else.

This article is from the WeChat official account:Guru (ID: guru-lama)Author: Yuanhe

Liu Yifei denied that it was Zhang Ziyi’s second, eager to talk about a beautiful love

　　Data map: Liu Yifei’s passionate dance in Sanya. China News Agency issued a yellow torch, photo

　　"I’m not Zhang Ziyi second, I’m also eager to talk about a beautiful love…" Jackie Chan, Jet Li, Liu Yifei starring in the Hollywood blockbuster "King of Kung Fu" landed in Shencheng on April 24, and this newspaper ("Liaoshen Evening News"), as the only media in Liaoning, made an exclusive interview with female lead Liu Yifei in advance.

　　Zhang Ziyi is a senior and I have just started

　　Liaoshen Evening News: Signed with a Hollywood agency to cooperate with Hollywood directors. The outside world says that you will become Zhang Ziyi’s second. What do you think?

　　Liu Yifei: I don’t think I’m second to Zhang Ziyi. I appreciate everyone’s praise and trust in me. Zhang Ziyi is indeed a great female star in China, and my movie journey is just the beginning. I will carefully choose every movie that suits me.

　　Liaoshen Evening News: Your previous image was relatively pure. Do you plan to transform?

　　Liu Yifei: Everyone saw that in "King of Kung Fu", Jin Yanzi is a heroine. In fact, this character is half martial and half literary. She not only has a lot of difficulty in moving, but also has a lot of inner drama. It is better to say transformation than change. Of course, I will try different changes.

　　Jackie Chan moved me. Jet Li and I are both rabbits

　　Liaoshen Evening News: Which do you think is more attractive, Jackie Chan or Jet Li?

　　Liu Yifei: Jackie Chan and Jet Li are both very dedicated actors. Before working with them, I imagined that they should be very serious, but after working with them, I found that they are very kind. I remember one time when I was hanging Weiya, I wore the thinnest Weiya clothes, but after I put them on, they were still too big. Jackie Chan was very worried that I would fly out when I was hanging Weiya. Two weeks later, Jackie Chan gave me a Weiya clothes made according to my size. I was very touched at that time. For Li Lianjie, I feel adoration. The first day I saw him, I was going to shoot an important fight scene. I NG twice in a row. Li Lianjie was very anxious and came over to correct my movements very seriously like a martial arts instructor. I was so nervous. Later, I found out that Jet Li is a rabbit like me, and we often study the zodiac together.

　　Convincing my mother to play the golden swallow mother

　　Liaoshen Evening News: Your mother also made a cameo appearance in "King of Kung Fu". How do you evaluate your mother’s performance in the film?

　　Liu Yifei: Before filming started, I knew that Jin Yanzi had a mother in the film. The director wanted to ask my mother to perform, but she refused at that time. Later, I couldn’t find a suitable actor, and the movie was about to start filming. I still wanted to invite my mother out of the mountain, but my mother still didn’t agree. Later, I convinced my mother. In fact, the Queen Mother in the film had no lines, and she shot for a short time, so it was not easy to evaluate her acting skills.

　　Liaoshen Evening News: You have played many roles related to love. Do you long for a true relationship?

　　Liu Yifei: A good relationship is what girls of my age long for. It takes time to fall in love, but I am an actor now, and most of my time is filming, so I don’t have time to fall in love. I have never experienced the feeling of true love. In filming, I just try my best to experience the love of the characters, and I usually read some books and movies to experience it.

　　Liu Yifei: My film journey is just the beginning.

　　Chief Reporter, Xiao Yang

Editor in charge: Li Dan

Takeaway bearish, preferred layoffs, stock price flash crash, Meituan is not beautiful？

Source: No. 1 Finance, Author: Chongshan

No. 1 said: The stock price has collapsed, can it still be eaten?

The restaurant laughed and Meituan cried. The reason is that Meituan-W (03690.HK) was "precision hit".

This is to start with the notice issued by the National Development and Reform Commission on February 18 "Several Policies for Promoting the Recovery and Development of Difficult Industries in the Service Sector". The document pointed out that the guidance of Internet platform companies such as takeout to further reduce the service fee standards of catering merchants means that the commission fees of "takeaway Internet companies" will further decline.

The largest representative of "takeaway Internet companies" is Meituan. According to the data of Prospective Research Institute, Meituan accounted for 67.3% of the total takeaway market in Q1 2021, which is 2.5 times that of the second Ele.me. According to Meituan’s Q3 2021 financial report, the revenue of takeaway business accounted for 54.24% of the total revenue, while the commission fee was 69% of the takeaway revenue.

On February 18, Meituan’s share price plunged, plunging 14.86% that day, and the market value evaporated 200 billion.

This is not the first time Meituan has been subject to policy supervision. On October 8, 2021, Meituan was fined 3.442 billion yuan by the State Administration of Municipal Supervision for implementing "two choices" measures for catering merchants over the past few years.

After the fine, the market fell to Meituan’s hanging heart, and all shouted that it was empty. Meituan’s share price has risen for two consecutive trading days since then, and hit a new high since July 26. Meituan’s 2021 Q3 financial report performance further stabilized the market’s heart, and its takeaway business revenue increased by 28% year-on-year to 26.50 billion yuan.

According to the 2021 Hurun China 500, Meituan ranks third among the top three domestic internet companies by market capitalization as the "biggest winner of the past year", while Alibaba and Tencent have plummeted in "value", fallen in the rankings, and were placed in the top two of the "biggest losers of the past year".

Meituan faces a dilemma

Meituan might have been stable without the "super bearish" on February 18. But Meituan’s long-standing "dilemma" has planted the seeds of its bearish situation.

One "difficult" situation is the thin profit margin of Meituan takeaway. In Q3 2021, the profit per order was only 0.2 yuan, and in the same period in 2020, it was 0.24 yuan.

In order to increase the profit of takeout, Meituan has continuously increased the commission rate (the proportion of commission that Meituan draws per takeout order) over the years. According to Meituan’s annual financial reports, its average commission rate for takeout has increased from 1.1% in 2015 to 12% in 2020.

Increasing the commission rate will naturally lead to conflicts with catering merchants. Meituan has always occupied about 60% of the takeaway market, and merchants have no other choice. They have to swallow it and keep reducing costs.

The epidemic in 2020 has exacerbated this contradiction. Under the epidemic, the catering industry has been hit hard and has to rely on takeout. Meituan’s high commission rate has been pointed out by the "Guangdong Catering Industry to Meituan Takeaway Joint Negotiation Letter" that "greatly exceeds the critical point that the majority of catering merchants endure". Catering associations in Sichuan, Chongqing, Shandong, Yunnan and other places have also publicly "shouted" Meituan and other platforms in the past two years to reduce the commission rate.

This puts Meituan in another "difficult" situation, that is, the pressure from the catering industry to reduce commissions.

Meituan has also expressed its position to adjust the commission system, but the profit margin of Meituan’s takeaway business is thin, so the adjustment cannot fully meet the demands of the catering industry.

For example, in May 2021, Meituan launched a rate transparency pilot, splitting the original platform service fee into two parts: technical service fee and fulfillment service fee, and "refining" the commission. But the new model did not reduce the commission rate of Meituan takeaway. In Q3 2021, the commission rate was still 11.78%, which was not much different from the average commission rate of 12% in 2020.

Epidemic has been on and off for 3 years. According to the Prospective Research Institute, 1 million catering companies closed down last year, and the hotel catering industry ranked first in the top ten shrinking industries. At this time, the National Development and Reform Commission, as a regulatory department, took action and asked the takeaway platform to reduce the commission rate. Although it hit Meituan accurately, it was also very reasonable.

(Source: Prospective Research Institute)

Which business can support Meituan?

With supervision, Meituan must really reduce the commission rate in the future. This will lead to a thinner takeaway business, and Meituan must find a new solution, that is, Meituan must have another business on top, replacing the takeaway business as Meituan’s new revenue pillar.

In this regard, Meituan’s idea has always been to use the drainage effect of takeaway business to develop new business. In terms of traffic, according to Meituan’s Q3 earnings report in 2021, as of Q3, the number of annual active users reached 668 million.

Meituan’s new businesses include Meituan Preferred, Fast Donkey, Meituan Flash Sale, Meituan Market, Meituan Preferred, etc. According to Meituan’s financial report, these new businesses have been developing slowly.

Specifically, fast donkey and Meituan flash sale has not yet developed, according to late Latepost, as early as August 2021, fast donkey, flash sale business has begun to shrink, Meituan began to focus on fresh food e-commerce business Meituan market and community group buying business Meituan preferred.

Meituan market currently uses the front warehouse model, but according to iiMedia consulting data, as of September 2021, its MAU users are only 2.58 million, less than 1/13 of the front warehouse model of Dingdong Maicai 34.71 million, and there is no influence in the market.

Meituan Preferred has become a new hope for Meituan’s new business. According to the statistics of the Financial Union, Meituan Preferred and Duoduo Shopping are located in the first echelon of the domestic community group buying platform industry, with a market share of about 30%. However, this is obtained by constantly burning money.

According to Meituan’s Q3 financial report in 2021, Meituan’s new business loss, which is mainly based on Meituan’s preference, reached 10.906 billion yuan, which is the highest single-quarter loss since Meituan entered the community group buying, an increase of 437.5% year-on-year; Moreover, in one year, Meituan has lost 36 billion yuan in this regard.

Not only is it losing money, but Meituan’s new business has always accounted for a small proportion of revenue. According to Meituan’s financial report, from Q3 2019 to Q3 2021, Meituan’s new business revenue accounted for only 7.24 percentage points in two years, reaching only 28.1%, unable to support the main beam alone. Meituan’s takeaway business has always accounted for more than 50% of revenue.

In fact, compared with the regulatory pressure on Meituan’s takeaway business, Meituan is under greater pressure.

Since 2020, Meituan and other large factories have participated in the "burning money" war of community group buying, and have been targeted by supervision. They have been criticized for "thinking about a few bundles of cabbage" and grabbing business with small merchants and hawkers. On December 22, 2020, the General Administration of Market Supervision put forward "nine no’s" for community group buying, mainly focusing on low-price dumping, big data killing, and commodity quality control.

On March 3, 2021, the General Administration of Market Supervision imposed administrative penalties on four community group buying enterprises, including Meituan Preferred. Two months later, on May 27, it separately fined Shihui Group 1.50 million yuan for low-price dumping and ordered it to suspend business for rectification. Since then, it has been reported that Shihui Group has laid off employees. According to a report in January by the Daily Economic News, Shihui Group is gradually shutting down grid warehouses and self-pickup stations across the country, or preparing to apply for bankruptcy liquidation.

Like the Ten Hui Group, on November 11, 2021, the official website of the Municipal Administration of Supervision also announced a separate punishment for Meituan Preferred, involving improper price behavior. On February 17, there was also news of Meituan Preferred’s layoffs.

Business model may be flawed

Meituan has long been known as the "king of losses" due to thin profits in the takeaway business.

In 2018, Meituan lost 115.50 billion, which caused a sensation in the catering industry at that time. In 2019, Meituan made a short-term profit, but not from the profits brought by takeout, but from investment income. In 2020, Meituan made a real profit, with a net profit of 4.71 billion yuan for the whole year, and the stock price reached a record high of 460 Hong Kong dollars in February 2021.

In 2021, Meituan began to lose money again in Q1. In the first three quarters of 2021, Meituan has accumulated losses of 18.197 billion yuan, an increase of 361.8% year-on-year, and once again became the "loss king".

In the current secondary market, the investment logic for listed Internet companies has changed. Previously, as long as the market size of Internet companies grew, even if they lost money, they were still recognized by the market. Today, the market also requires Internet companies to be profitable.

After the huge loss of community group buying business Meituan Preferred, Meituan has no new story. Recently, the story told to capital markets is only a strategic cooperation with Kuaishou. Kuaishou users can place orders through the Meituan Mini Program, which is still to expand Meituan’s takeaway business. At present, after the notice of the National Development and Reform Commission was issued, Kuaishou’s share price also fell by 4.86%.

From this perspective, Meituan’s share price is likely to decline in the future.

Meituan’s business model is actually flawed.

Looking at Meituan’s various businesses, whether it is takeaway, Meituan Preferred, Meituan Market, flash sale and other new businesses, although the service scenarios are different, they are all inseparable from Meituan delivery. Meituan delivery belongs to instant delivery in the same city.

Intra-city instant delivery, which provides logistics distribution between location A and location B within a city, is about maximizing efficiency. The market is huge, with a compound annual growth rate of 30.5% from 2020 to 2025, according to iResearch. However, companies in this industry are all losing money because instant delivery relies heavily on manpower, and labor costs continue to rise. SF Intra-city, an instant delivery company listed in 2021, will account for 96.6% of operating costs in 2020.

Meituan delivery is more efficient, but the labor cost is still high. According to Meituan’s public information, in 2020, riders’ expenses accounted for 83.1% of Meituan’s takeaway commission, compared with more than 90% before. For instant delivery companies such as Meituan, to some extent, they are working for riders.

Meituan has also tried every means to reduce the expenditure of riders. In May 2021, Wang Lin, deputy director of the Beijing Municipal Bureau of Human Resources and Social Security, bluntly stated that in order to reduce costs, the registered riders on the Meituan platform are not Meituan employees, but outsourced. This was later reported that Meituan riders were required to register as self-employed to avoid paying social security.

However, on July 26, 2021, seven departments including the General Administration of Market Supervision have clearly requested to protect the legitimate rights and interests of takeaway food delivery staff. Undoubtedly, Meituan’s rider spending will further increase.

To solve the flaw in Meituan’s business model, we can only rely on unmanned delivery.

As early as 2016, Meituan began to develop unmanned delivery technology. According to the research report of China International Capital Corporation, it is expected that by 2023, Meituan’s unmanned delivery cost will be controlled at about 2.9 yuan per order, while according to Meituan’s public information, in 2020, the rider delivery cost will be about 7.2 yuan per order.

(Meituan unmanned distribution development process, source: CICC)

At present, Meituan is increasing its research on unmanned delivery. In Q3 2021, Meituan’s R & D investment increased by about 60% to 4.70 billion yuan year-on-year. However, unmanned delivery faces not only technical problems, but also regulatory risks, such as the slow process of opening up the right of way in policy and the state’s supervision of data security.

All in all, Meituan takeaway is bearish, Meituan prefers huge losses and layoffs, Meituan’s share price has collapsed, and in the future, Wang Xing can still "eat"?

Please! It’s cool to have your own gym, okay？

　　Article source: Daisy evaluates WeChat WeChat official account

　　Original title: Please, it’s cool to have your own gym, okay?

　　Author: Huahua

　　Everybody, this is Huahua ~

　　Some time ago, Huahua was blocked by the little brother in the gym when she got off work. She took me for half an hour and introduced me. Looking at the increasingly dark day, Huahua had only one thought in her heart: "Leave me alone!"!

　　Although sedentary people in offices like Huahua do have a lot of physical problems and want to exercise, it’s dark every day when they come home from work, and there is no energy to go to class, not to mention the epidemic situation. Maybe one day the gym will be closed and thousands of dollars will be wasted. My little heart can’t stand it.

　　However, summer is coming, and the demand for fitness is on the agenda again. In addition, I have been closed at home recently, so I really don’t have the conditions to go out for exercise and spend a lot of time thinking about it. In this case, I might as well exercise at home. So I did my homework and quickly collected some good things for home fitness to share with you! Taking into account the different personal fitness needs and inputs, Huahua has chosen this and divided everyone into three categories from the input cost. Babies can choose according to their own needs.

　　As we all know, there are many fitness bloggers on various platforms now, and Huahua usually likes to watch this kind of courses (watched+collected = done). This time, I carefully selected three favorite bloggers to share with you, which is very suitable for babies who want to keep fit but are not sure whether they can stick to it and plan to try it first ~

　　one

　　growwithjo

　　She is the first fitness blogger that Huahua paid attention to. Many people in bilibili carried her videos and made a collection. You can find them by searching for keywords.

　　There are several series of her videos, including brisk walking aerobics, boxing, happy dancing and so on. The length of the videos ranges from 5 minutes to one hour. Walking aerobics series is more suitable for beginners. It is no problem for Huahua to follow her series for 20 minutes at the beginning, but now it has advanced to the happy dance series, which is very expensive ~

　　GolfyDance

　　This teacher has his own account in bilibili, mainly to update some KPOP* fitness dances. The choreography is inspired by the original choreography and MV*, so his videos will contain some original dance movements. It is very friendly to all the babies who like KPOP but have no dance foundation. (KPOP: Korean pop music, MV: music short film)

　　When Huahua first knew him, she practiced his video at home all night. That is to say, is it possible to occupy a place in random dance in the future?

　　three

　　Mark Marshall

　　Mark has accounts in Xiaohongshu and bilibili, which is really amazing. His videos are mainly a series of sweaty and fat-burning dances, one song and one video. After dancing three videos, you will sweat profusely and mobilize all your muscles.

　　The most interesting thing is Mark’s explanation. Every time you dance, you not only exercise your body muscles but also your facial muscles. After sweating, you feel better. Every day, the workers who jump and jump are not emo (in a bad mood). Hahahaha ~

　　For the baby who doesn’t like aerobics and doesn’t want to make too much investment, Huahua has also selected several "wild" equipment for everyone. It is no exaggeration to say that you can help you practice your whole body at home within 200!

　　one

　　Decathlon elastic rope

　　Reference price: 29.9

Cr: Little Red Book @ Mark Fintess Marshall

　　Elastic rope is the product with the least investment in this series, but don’t underestimate it. Such a rope can help us practice all the muscles.

　　Huahua chose this one of Decathlon because it is made of natural ecological latex, which is non-toxic and tasteless, does not harm health, and the seamless sewing technology will not harm the skin during stretching. Its thickening design does not break after 12000 fatigue tensile tests, so it is more assured when exercising.

　　Moreover, the elasticity is super-large, and it does not deform after three times stretching. After 200 hours (450 watts) of UV (ultraviolet) anti-aging test, there is no need to worry about aging adhesion and aging fracture after using it for a while, even if it is as strong as cattle, it is very reassuring ~

　　There are 6 kinds of elastic belt with different resistance values to choose from, which are suitable for the exercise needs of different groups of people. It’s so small, it’s easy to carry, and you can take it out at any time to stretch yourself when you are tired of sitting at the station ~

　　Yottoy yoga mat

　　Reference price: 69

　　Yoga mat is an essential entry-level product for many fitness whites. Huahua bought a yoga mat blindly when she first bought it. She just fished out a particularly cheap one and took it home to practice. As a result, she almost didn’t give it away when she opened it, and she moved it without making two action mats. After several uses, many places cracked, and so did I.

　　This time, I learned the previous lesson. The Yottoy’s yoga mat is made of TPE’s environmentally-friendly raw materials, which has no taste and improves the anti-slip performance. This is not enough. It also has a double-sided anti-slip texture, so you don’t have to worry too much about slipping when sweating on it during exercise. In addition, there is a posture line design for your reference when doing yoga, and the color of Mo Landi makes this yoga mat look even higher!

　　The widened and thickened design allows Huahua to "roll" out without having to side. . . Even if you jump rope on it in the middle of the night, you won’t knock on my door downstairs. Moreover, the resilience is still very good, and the knee will return to its original shape after pressing a nest on it for a few seconds. Buying this one is worth buying 10 pieces with 9.9 packages. You don’t want me to use it forever, do you?

　　three

　　KEEP intelligent skipping rope SR1

　　Reference price: 149

Cr: Little Red Book @ Live in the Present, Not Afraid of the Future

　　Everyone can jump rope, right? It is not only a relatively simple way to lose weight, but also can exercise our respiratory system and cardiovascular system. The fat burning efficiency is very high, and the baby who wants to lose weight as a whole must pick it!

　　KEEP’s skipping rope can be linked with its APP, and there are many interesting skipping lessons to practice. When you open the APP during exercise, you can start monitoring the frequency and data in real time, and you can store it offline even if your mobile phone is not around, so you won’t miss every exercise punch. Moreover, it can accommodate up to ten people to share data, and you can let go of your hands and feet and have a "war" with your family!

　　Its endurance really surprised me. After being fully charged, it can last 60 days after being used for ten minutes every day (the data comes from the official)! You can also switch between cordless ropes, skipping rope will hit you and those who won’t hit you are happy ~ the numbers are still displayed on a big screen, and the backlight design allows us to easily read during the jump.

　　And this one is the same as the four-character brother’s endorsement. If you round it off, we will jump in the same rope with our brother. Hey, hey (idiot face)

　　four

　　Move it intelligent dumbbell

　　Reference price: 199

　　I didn’t see this dumbbell before, but it just added a little weight. I practiced it differently when I filled it with mineral water bottles at home. But this dumbbell really opened the eyes of the flowers, and sure enough, even small dumbbells should be injected with scientific and technological ingredients in the technological era.

　　It has a built-in high-precision induction module, which can accurately identify every movement of the athlete. When it is matched with the brand software with the same name, if the movement is accurate, it will appear corresponding prompts such as perfect and good (how do you feel like playing with pleasure? ), when the action is wrong, it will be encouraged. It can also invite friends to exercise with friends PK, which will greatly improve our enthusiasm!

Cr: Little Red Book @ Little Lucky/@ Little Sister B

　　Moreover, it is designed with polymer silicone, which is healthier and more environmentally friendly, does not harm the skin and feels comfortable at the same time. After exercise, the round end of the dumbbell can also be used as a massage ball to relax the muscles. It is not wasted anywhere on such a big thing, and the money is not lost ~

　　Babies who have a little budget for fitness and don’t want to go to the gym all the way can look here. These things are enough for you to open a small family gym ~

　　one

　　Mairuike spinning MR-655

　　Reference price: 1280

　　The brand Merrick may be unfamiliar to everyone, but it is actually a partner of the Training Bureau of the State Sports General Administration, which will provide athletes with a variety of training and fitness products. Isn’t it another step away from the Olympic champion?

　　This spinning bike is a good-selling product of its family. Small size, occupying only 0.07m2, can be placed in any corner, whether in the living room, kitchen, balcony or bedroom. Different from the traditional spinning bike design, it can also liberate the upper body, so that we can exercise while studying, working, playing games and watching TV, and become a proper time management master.

　　Moreover, its magnetic flywheel operation makes its noise very small, and eight kinds of intelligent gears can meet the different exercise intensity needs of a family. Huahua also tells you that its seat can be adjusted in height, and tall people with legs of 1.8 meters don’t have to worry about not being able to stretch ~

　　Aomashi multifunctional stepping machine OMS-T8

　　Reference price: 1380

　　This treadmill, Huahua would like to call it a "lazy sports artifact", which can achieve the effect of exercise only by moving its feet. Its size is also very small, so you can take it home even if the home area is not big enough ~

　　When doing homework, Huahua sees that many people are worried that the treadmill will hurt their knees. However, when this treadmill moves, the trajectory of the machine is elliptical, which can avoid the impact and pressure on all joints of the body during exercise, and can protect the knee joints and reduce injuries.

　　It also has 8-speed intensity that can be adjusted, and the babies can gradually increase their resistance with the increase of exercise intensity. The magnetic control device can reduce the movement noise, and the drawstring that comes with the machine can unlock various movement modes, which can be practiced on waist, abdomen, legs and arms. Let’s do the exercise while standing ~

　　three

　　Switch fitness ring+host

　　Reference price: 2398

　　Switch’s fitness ring has been spent for a long time, and many people have seen it since the early days of the epidemic. It recognizes our movements through "Ring-con" and "leg straps", and when we make corresponding movements, we can push the game characters forward to break through the barrier.

Cr: Little Red Book @ A Zi is a little blessed/@ Ghosts.

　　It will fight when it meets the enemy in the process of crossing the border. We need to use our bodies to make various gestures to defeat the enemy and move on, which sounds very interesting. Moreover, as the difficulty of breaking through the barrier increases, we will grow up with the protagonist in the game, and for families with children, we can also entertain and educate, and playing games will no longer delay our study and health ~

Cr: Little Red Book @Rxuan/@ Mai Girl's Little Match

　　In addition, there is a dance fitness game-full dance power, a lot of popular songs, following the movements of animated characters all the time, and exercising happily in music and rhythm. For most people, fitness is no longer a chore.

　　Although its cassette is not expensive, it needs to be used with the host computer, so the overall price will be a little more expensive, but the host computer can also be used with other game cards, which is equivalent to buying a multi-functional game machine with a fitness function, so you don’t lose money!

　　four

　　FITURE mirror

　　Reference price: 4199

Cr: This account number, please indicate the source when reprinting.

　　Babies who work out at home may worry about what to do if their movements are not standard. If you have FITURE, a smart mirror for home fitness, you can dispel this concern. It uses AI intelligent black technology to guide in real time, correct wrong actions and avoid injuries caused by wrong actions during the exercise.

　　There are 16 types of courses such as strength plasticity, yoga, aerobics and pilates on FITURE’s APP, and each course has different training parts, and you can practice in different patterns every day. The coaches inside are all star coaches from FITURE’s self-research, and their professionalism is excellent. Although it is just a mirror, it can also customize its own fitness course according to the physical test results, just like inviting a private tutor at home to serve you 24 hours a day, 365 days a year.

Cr: xiaohongshu @FITURE family science and technology fitness

　　But also with nutritionists and health consultants, exercise and diet combined to help us achieve fitness goals faster. In addition to sports, we can also exchange experiences with fitness instructors and partners in FITURE’s community and make more friends.

　　With so many products introduced, I don’t know which one you prefer, but in fact, as long as we have perseverance, we can do it anytime and anywhere. I use the money from the gym to buy some equipment for myself to practice at home, which is affordable and convenient. I don’t have to worry that the gym is too far away and the epidemic is suddenly isolated. How nice it is to easily realize the freedom of fitness ~

The first batch of 10 Hong Kong civil servants came to Shenzhen for three months, and Shenzhen and Hong Kong took the lead in launching the civil servant exchange and cooperation project.

The launching ceremony of "Guangdong-Shenzhen-Hong Kong Special Administrative Region Civil Servant Exchange and Cooperation Project" was held in Qianhai, Shenzhen on the 18th. The first batch of 10 Hong Kong civil servants will have a deep exchange for three months.

It is learnt that 10 middle and senior civil servants in Hong Kong come from eight departments and grades, including the Administrative Officer Grade, the Executive Officer Grade, the Environmental Protection Department, the Highways Department, the Innovation and Technology Commission, the Office of the Government Chief Information Officer, the Planning Department and the Transport Department. The exchange personnel were sent to different government units in Futian and Qianhai, Shenzhen, respectively, to conduct in-depth exchanges in areas such as regional governance, scientific and technological development, urban planning, transportation and environmental protection.

It is reported that this exchange and cooperation project is the first civil servant exchange project between Hong Kong and the Mainland since the full resumption of customs clearance. It is an important measure to take the lead in implementing the Agreement on Civil Servant Exchange and Cooperation Project between Greater Bay Area and Hong Kong in September this year, and Shenzhen has also become the first stop for the civil servant exchange and cooperation project between Greater Bay Area and Hong Kong in the Mainland. According to the consensus between Shenzhen and Hong Kong, the Hong Kong SAR Government will send 10 senior and middle-level civil servants from Hong Kong to relevant government departments and statutory bodies in Shenzhen for three months from mid-December 2023 to cooperate with the construction of major platforms for Shenzhen-Hong Kong cooperation, such as Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone and Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone, and participate in the work in the fields of ecological environment and transportation planning.

Observers believe that the exchanges between Shenzhen and Hong Kong have a deep foundation. With the continuous expansion of Greater Bay Area’s construction and Shenzhen-Hong Kong cooperation, Shenzhen-Hong Kong cooperation has moved from economic cooperation in the past to all-round cooperation and ushered in a new era of all-round acceleration and all-round promotion. In the field of public officials’ exchange, Shenzhen and Hong Kong have experienced cooperation from the working level of ecological environment and border policing to the normal and frequent exchange and docking under the mechanism of Shenzhen-Hong Kong cooperation special class. This exchange and cooperation has been broadened to the fields of scientific and technological innovation, ecological environment, urban planning and transportation planning, and the in-depth exchange and cooperation between civil servants of the two places will be strengthened in more fields in the future.