This year’s government work report will set the increase in consumer prices at around 3% in 2024. "This expected goal is consistent with the previous two years, and it is at a moderate level, which is conducive to guiding market expectations and leaving enough room for macroeconomic policy regulation and control to effectively support economic operation in a reasonable range." Lan Fenghui, member of Chinese People’s Political Consultative Conference and president of Unitech Tax Agency Co., Ltd. said.

　　The price level is the thermometer of macro-economy, and it also affects people’s life, so it should be kept at a moderate level. In 2023, China’s CPI maintained a moderate upward trend, in sharp contrast to the major developed economies suffering from high inflation. Commissioner Lan Fenghui said that in recent years, China’s fiscal policy and monetary policy have maintained a steady and moderate tone, while the industrial chain and supply capacity are sound and the economic cycle is basically smooth, laying a solid foundation for maintaining overall price stability.

　　In recent months, the CPI has declined year-on-year. Commissioner Lan Fenghui said that China’s commodity supply is sufficient, which fully meets the needs of the broad masses of people and shows a downward trend in prices, which has depressed the CPI level to some extent; In addition, the global prices of food and energy, which were caused by unconventional factors, rose sharply before, and turned down in 2023, which also had a great impact on China’s overall CPI.

　　Commissioner Lan Fenghui suggested that the next step should be to give full play to the advantages of China’s ample monetary policy space, accurately and forcefully implement macro-control, strengthen cross-cyclical and counter-cyclical adjustment, create a good policy environment for economic growth and price stability, further boost market confidence and development expectations, and consolidate and enhance the economic recovery. I believe that with a series of steady growth measures, consumer prices are expected to stabilize and rebound. (Economic Daily reporter Yang Xiaolin)

Yichexun We have obtained the new BMW 5 Series family models and configuration information from relevant channels. The new car will provide 7 fuel models and 5 pure electric models to choose from. It is reported that the new car will be officially listed in China at the end of January 2024 and the price will be announced.

It is understood that the domestic starting lineup of the new BMW 5 Series family includes domestic long-wheelbase models and imported standard-wheelbase models, among which domestic long-axle fuel models include 525Li luxury suits, 525Li M sports suits, 530Li leading luxury suits, 530Li leading M sports suits, 530Li exclusive luxury suits and 530Li exclusive M sports suits.

Domestic long-axis pure electric vehicles include i5 eDrive35L luxury suit, i5 eDrive35L M sports suit, i5 eDrive35L exclusive luxury suit and i5 eDrive35L exclusive M sports suit.

Imported standard-axis fuel vehicles include 525i M sports suits; Imported standard axle pure electric vehicles include i5 M60 xDrive. It is understood that except for the pure electric i5 M60 xDrive, which is a four-wheel drive model, the rest are rear-drive models. In the future, BMW may expand the lineup of the above models, but the specific situation is unknown.

The brand-new domestic long-axis 5 Series offers six car paints, all of which are metallic paints, namely, mineral white, carbon black, quantum blue, shining copper gray, rock gray, and lapis lazuli red. The brand-new imported Standard Axis 5 Series provides a very rich selection of car paints, namely, mineral white, carbon black, sapphire blue, quantum blue, rock gray, Brooklyn gray, mysterious gray, York Cape green, flame red, personalized customized Danquan stone blue, personalized customized matte pure gray, personalized customized matte dark gray, personalized customized matte Borderman blue, and personalized customized special painting with code number 490.

In addition to the exclusive model, the domestic long-axis models are equipped with Veganza leather as standard, and the optional colors are copper brown, Burgundy red and dark brown; The exclusive model comes standard with Veganza leather with stitching, and the optional colors are copper-brown mosaic Atlas grey, black mosaic Burgundy red and sea blue mosaic black.

Model review

New BMW 5 Series

In terms of appearance, the domestic BMW 5 Series basically continues the design of overseas models. Compared with the current BMW 5 Series, the front face is more tough and looks dynamic and powerful. The new car will be equipped with a ring-shaped grille and boomerang daytime running lights as the latest design of BMW brand, but the giant "big nostrils" design of BMW 7 series is not used, and the overall shape is relatively restrained.

Semi-hidden door handle flush with the door, flat roof antenna make the side of BMW 5 Series look smoother, and the iconic "Hough Corner" of the rear door is integrated with the C-pillar. This idea is reflected in the current BMW 3 Series and 7 Series, and BMW has also added the details of the embossed number "5" on the black plaque, which is self-evident. The length, width and height of the new car are 5175/1900/1520mm and the wheelbase is 3105 mm. The obvious change in the rear of the new car lies in the light group, which adopts simple horizontal lines, making the visual effect more slender and exquisite, and redesigns the cover to fit the shape of the whole car better.

In terms of interior, the new car also adopts the latest family style, including the continuous screen design of 12.3-inch instrument and 14.9-inch central control panel, and the new style sports steering wheel. The new car will be equipped with iDrive 8.5 system, and the intelligence will be further improved. IDrive 8.5 is developed based on Linux system, and the new system introduces the design of QuickSelect to improve the menu structure, so that drivers can access the set common functions quickly and conveniently. At the same time, BMW has also optimized the entrance logic of functions, and the entrance of applications and vehicle settings is more intuitive. The applications on the menu can also be adjusted according to the user’s usage habits and preferences.

As for the power part, according to the information previously declared, the new car will provide 525Li and 530Li models for selection. The two models are equipped with high and low power versions of 2.0T engines with maximum power of 156kW and 211kW respectively.

New BMW i5

The new BMW i5 follows the design of the new BMW 5 Series as a whole. Different from the current models, the new car has a sharper line design, which outlines a more vivid sense of edges and corners. The new car still adopts the kidney-type front grille design, and the champagne gold element is integrated around the grille and around the front enclosure. The new car is simplified for the angel eye headlights, making it more in line with the minimalist aesthetic trend of the current era.

The new car has a very stretched visual experience and inherits the elegant temperament of the BMW 5 Series. The new car will adopt a highly recognizable taillight design and incorporate L-shaped chrome decoration, highlighting the luxury attributes of the vehicle. The new car also designed a "5" bright logo at the corner of Hoxhorn, which can produce a blue breathing effect when the vehicle is charged, which is an exclusive customized design element for domestic users.

The new car is equipped with a 12.3-inch LCD instrument+a 14.9-inch touch screen, and adopts a very popular joint screen design. The new car is also equipped with an encircling interactive light belt, and the concealed air conditioning outlet is integrated with the light belt design, which makes the visual effect inside the car more simple. The design of the flowing gold plaque in front of the co-pilot was inspired by China, aiming to blend a touch of oriental charm into the luxurious atmosphere. The new car has also been upgraded for the rear row, and will be equipped with a rear suspended giant screen. This luxurious configuration from BMW 7 Series will become the exclusive option for domestic long-wheelbase version of 5 Series customers. The screen size reaches 31 inches, the resolution is 8K, and it supports real-time interconnection. Not only that, the new car will also be equipped with Bowers & Wilkins surround sound system, four-zone automatic independent air conditioning (with independent control panel in the rear) and other high-level configurations. Finally, the front seat backrest will also be equipped with the Chinese character "five" exclusive logo, further highlighting its special status as a domestic version of the model.

The new BMW i5 adopts the upgraded fifth-generation eDrive electric drive system, providing both eDrive 40 and M60 xDrive. The entry-level model will be equipped with a rear motor, with a maximum power of 340 HP, a peak torque of 430 Nm, an acceleration time of 6.0 seconds from 0-100km/h and a top speed of 193 km/h.. As a version of M Performance, the M60 xDrive is equipped with stronger dual motors, sharing the powertrain with iX M60, with a maximum power of 601 HP and a peak torque of 820 Nm. Officially, its 0-100km/h acceleration time is 3.8 seconds, and its top speed is limited to 230 km/h. Future domestic models may be eDrive40L and xDrive40L l.

　　Beijing, China, July 21 (Reporter Qian Cheng) According to the report of China Voice "News Night" of the Central Radio and Television General Station, a few days ago, China Voice of the Central Radio and Television General Station reported that Wish, a mobile shopping application, frequently issued a fine to the seller recently, on the grounds that the product picture was not in conformity with the real thing, and it was considered as a "misleading product", and the amount of the fine ranged from RMB 60,000 to more than RMB 3 million. Is it reasonable to impose a high fine? Wish Company responded that some merchants have behaviors that disturb the fairness of the platform, and the company hopes to play a warning role by means of fines.

　　It is understood that Wish is a mobile shopping software specially designed for the working class. Headquartered in the United States, Wish mainly sells some relatively cheap products. At present, there are more than 300 million registered merchants in the world, mainly concentrated in mature markets such as North America and Europe and potential emerging markets such as Latin America. At present, although few people buy products through this software in China, some research data show that more than 90% of the sellers of this platform are from China. According to media reports, Wish topped the list of global shopping App downloads in 2018.

　　It is such a merchant platform that is dominated by sellers in China. Recently, it has frequently issued high fines to sellers in China. The main reason for the fine is that the uploaded pictures are not in line with the real thing and are considered as "misleading products". Ms. Zhang from Hubei told the reporter that since the end of last year, she has received fine notices one after another for almost all the so-called "misleading products". Ms. Zhang said that the latest fine was because of a tablet computer on sale. On July 4 this year, the platform informed that the first rendering of the tablet computer was inconsistent with the subsequent physical drawings, and a fine of $10,000 was imposed. Ms. Zhang said: "It (the platform) said that my first picture looks full screen, and the third picture doesn’t look full screen, which is the reason. But the renderings of the products would have looked more beautiful. The third picture is a physical picture, which may not look so beautiful. It says that my two are not the same thing, but mislead consumers. "

　　Ms. Zhang told reporters that after consumers buy goods on the platform, the payment will be automatically transferred to the platform. After consumers confirm the receipt, the platform will transfer the confirmed payment to the merchant’s account twice at the beginning and middle of each month, and these fines are directly deducted from all outstanding payment.

　　There are many sellers like Ms. Zhang who have recently received a fine notice. Mr. Liao from Zhejiang was also fined frequently for so-called "misleading products" and other reasons. The total amount of fines exceeded 300,000 US dollars, but the reasons given by the platform were very general. Mr. Liao said: "The judgment given by the backstage is very general, that is, your product does not match the picture, and the packaging does not match the picture, so it is very general."

　　According to incomplete statistics, more than 50 stores have been fined recently for "misleading products" and other reasons, and the maximum fine has accumulated more than 400,000 US dollars.

　　Shanghai Weishi Network Technology Co., Ltd., a wholly-owned subsidiary of Wish platform, responded that misleading products refer to products that are misrepresented through fraudulent pictures (especially the main product picture), titles, quantities, sizes and prices, which leads to misleading and fraud to users’ shopping. The relevant person in charge of the company told the reporter that when consumers browse on the mobile phone, they often place orders only through the main picture. At this time, if merchants deliberately exaggerate the functions, models and quantities of products in the display of the main picture, it will disturb the fairness of the platform. The company has the responsibility to prevent such behavior. The purpose of taking the fine measures is mainly to serve as a warning. The relevant person in charge of the company said: "We have received this mobile phone through customer feedback, and some of its internal configurations are not consistent with its actual description. The description of the mobile phone memory is 128G, but in fact it may be 16 G."

　　Wish official website policy shows that if the product is detected to be misleading, the merchants will face a minimum fine of $100 per order for orders generated in the past 30 days before the product is judged to be misleading, and all orders will be fined 100%.

　　Many stores that have been fined recently said that they did not violate these regulations. Mr. Liao said that his company mainly sells some low-priced domestic mobile phones, which are the same as the pictures, and there is no difference.

　　In addition, there are many sellers who question that the backstage has been audited at the beginning of the goods being put on the shelves, and the unqualified products are not put on the shelves, and the backstage has also been fined. It is unreasonable to impose such a high fine after the goods have been sold for a period of time.

　　In this regard, the relevant person in charge of Shanghai Weishi Network Technology Co., Ltd. said that the platform review mechanism is mainly judged by product pictures, and obviously infringing and prohibited products are not put on the shelves. Whether there is "misleading behavior" in products cannot be realized simply through product review. The relevant person in charge of the company said: "We only review the products to see if there are some obvious infringements or obvious contraband, such as explosions or flammable products, which we can find out and not put on the shelves. But for example, like a mobile phone, how much memory it has can’t be seen through pictures. "

　　In response to this matter, Sun Yu, a lawyer of Sun Law Firm, believes that although the fine terms set by the platform itself are harsh, there is no problem in principle, and merchants already know it in advance. However, it is suspected of violating the contract law if a fine is imposed on the basis of a simple violation of the terms without giving detailed reasons, and it is directly deducted from the merchant’s payment. Sun Yu said: "Their merchants sell things on the Wish website. In fact, there is a contract between them. The main content is that after the merchants sell things, Wish needs to return the money earned by the merchants to the merchants. If it is not returned, it will violate the contractual relationship between them without any reason."

　　At present, the Wish platform has begun to investigate and verify the relevant situation. If the merchant thinks that the product has been misjudged as a "misleading product", he can lodge a complaint by submitting clear and sufficient evidence. If the complaint is passed, the product can be put back on the shelves, and the corresponding "misleading product" fine will also be cancelled. However, for individual malicious fraud of users and platforms, it will be strictly eliminated.

On February 20, 2024 dark blue SL03 pure electric version was officially launched, and the new car launched a total of 3 configuration models, with a price range of 15.69-17 3,900 yuan. As a new model, the new car further lowers the threshold for car purchase, and improves the mileage of the entry-level model. CLTC pure electric battery life is increased to 530km, and more luxurious configuration options are provided.

Listed car purchase rights

Seven Gift Packs | Cash discount 100 million yuan

Along with the launch of the new model, it also launched a wealth of car purchase rights, including:

1. Cash gift (choose one of the two benefits): 10,000 yuan cash discount or 6,000 yuan cash discount + 6,000 yuan optional fund (optional quality comfort kit can be enjoyed);

2. Maintenance gift: 999 yuan to buy 12 basic maintenance times in 6 years (the first owner);

3 quality assurance gift: three electric system lifelong quality assurance;

4. Boutique gift: 999 yuan to buy a heat insulation film worth 2399 yuan (including installation), and a canopy sunshade will be given when you buy a car (cash in after picking up the car);

5. Service gift: a free in-depth physical examination of the whole car every year, and a gold card benefit (10 years);

6. Traffic gift: basic traffic is free for life (13G1 month), and entertainment traffic is free for two years (10G/month);

7. Charging gift: Charging pile including installation upon purchase (valid within 1 year of purchase, charging cable within 30M).

Exterior continuation of the current model design

Styling personality, fashion and sports

In terms of appearance, the new dark blue SL03 continues the design language of the current model, the overall style is fashionable, the front face adopts a closed grille design, equipped with split headlights, the LED daytime running lights above are more sharp, and the shape is highly aggressive.

The side of the car body adopts a slip-back shape, equipped with frameless doors, electric hidden door handles, side skirt trims and 19-inch wheels, which is full of sporty feeling. The rear shape is also very design-like, equipped with a floating rear wing, through taillights and electric hatchback tailgate, and blackened for the rear surround, which is very suitable for the aesthetic of today’s young people.

In terms of size, the length, width and height of the new dark blue SL03 pure electric version are 4820/1890/1480mm, with a wheelbase of 2900mm, positioning it as a mid-sized sedan.

Simple and luxurious interior design

Equipped with 8155 chip | Provide more luxurious configuration options

In terms of interior design, the overall layout has not been greatly adjusted, and the design style is still very simple. It is equipped with a 14.6-inch floating central control screen, a 10.2-inch full LCD instrument panel, and a dual-spoke multi-function steering wheel. The central control screen can rotate up to 15 degrees left and right, making it more convenient for drivers to operate.

Intelligent, equipped with Deepal OS intelligent car system, built-in Qualcomm Snapdragon 8155 chip, support dual-region automatic speech recognition wake-up, continuous automatic speech recognition, visible to say, 4G network, gesture control, facial recognition, mobile APP remote control, etc.

In terms of configuration, the new dark blue SL03 pure electric version comes standard with L2-level auxiliary driving system, 540-degree panoramic image with transparent chassis, electric trunk, keyless entry for the whole car, adaptive far and near headlights, unopened panoramic sunroof, AR-HUD head-up display, dual 40-watt mobile phone wireless charging, front seat ventilation and heating, 14-speaker sound system, 64-color ambient light and rear air conditioner trend and other luxury configurations.

In addition, the new version of the dark blue SL03 pure electric version also provides users with an additional "comfort bag" package, allowing users to choose leather steering wheel, leather seats, rear privacy glass and Continental tires, allowing users to directly experience a more comfortable and high-end driving experience.

Entry range increased to 530km

Zero hundred acceleration fastest 6.2 seconds

In terms of power, the new deep blue SL03 pure electric version is equipped with 160kW and 190kW motors according to different configurations, with a peak torque of 320N Nm and an official 100-kilometer acceleration time of 6.9 seconds and 6.2 seconds respectively. In terms of battery life, it provides two battery specifications of 58.89kWh and 66.8kWh, and the pure electric cruising range of CLTC operating conditions is 530km and 610km respectively.

It is worth mentioning that the current deep blue SL03 also offers an extended range version to choose from. It is equipped with a 1.5L Atkinson cycle engine with a maximum power of 95 horsepower, a maximum motor power of 160 kW/175 kW, and a peak motor torque of 320N Nm. The official 100-kilometer acceleration time is 7.2 seconds and 7.5 seconds respectively. The fuel consumption at a loss is 5L/100km. In terms of battery life, two battery specifications with a capacity of 18.99 kWh and 28.39 kWh are available. The CLTC pure electric mileage is 135 kilometers and 200 kilometers respectively. When fully charged (fuel tank 45L), the comprehensive cruising range is 1200km.

Write at the end

BYD Seal EV

Guide price range: 18.98-27 9,800 yuan

Geely Galaxy E8

Guide price range: 17.58-22 8,800 yuan

Tesla Model 3

Guide price range: 24.59-28 5,900 yuan

From the current market situation, the main competitors of the deep blue SL03 include BYD Seal, Tesla Model 3, Geely Galaxy E8 and other models. Relatively speaking, the deep blue SL03 has obvious price advantages and a more personalized design style, which has won it a place in the market.

In the past six months, the performance of the deep blue SL03 has been very stable, with monthly sales remaining at about 6,000 units. In 2023, the cumulative sales volume exceeded 72,000 units, ranking among the best in the medium-sized new energy car market. With the launch of the new deep blue SL03 pure electric version, it is expected to achieve better results in the market in the future.

It is reported that as of June 1st, 45 TV and movie animations have been postponed or stopped in Japan, among which "Cherry Maruko" has been broadcasted continuously for 30 years.

As one of the most well-known and influential animation works in the world, "Cherry Maruko" is a "childhood friend" of many people, accompanied by several generations of growth, and its animation has been ranked among the top three in Japanese animation ratings for more than 20 years, which can be described as Japanese national animation. After the news came out, many netizens reluctantly said that "my childhood will never come back."

The epidemic caused domino effect in the production process.

It is reported that affected by the epidemic, Tokyo declared a state of emergency, and some animation production companies began to work from home. Because of the poor working conditions at home, the repeated process of submitting and revising manuscripts also greatly reduced the efficiency. Most of the paper paintings made by animation need to use special paper and a transparent table, which is time-consuming to draw at home. At present, the work efficiency of employees who draw with paper is 30% lower than before.

Not only that, animation dubbing has been more seriously affected by the epidemic. Because dubbing needs to be carried out in a closed environment, seiyuu has been diagnosed one after another. Since April, all animation dubbing work has been suspended. A recording studio in Tokyo, Japan, resumed recording work on the 1st of this month after it was closed for nearly two months.

It is understood that the scale of Japanese animation industry exceeds 2 trillion yen, or about 130 billion yuan. Because the industrial chain is closely linked, as long as one production link stops, it will trigger a domino effect, and the delay of animation will also affect the development of subsequent cooperative projects such as music and games and the sales of surrounding goods.

As the world’s largest exporter of animation works, Japan accounts for 60% of the international market, and its share in the European and American markets is more than 80%. However, the impact of this epidemic has brought a big impact to the Japanese animation industry.

Many people see themselves from cherry maruko.

The forever 9-year-old "Cherry Maruko" is also a childhood memory of the post-80s and 90s in China. Some netizens miss saying that in the 1990s, when cartoon city and the windmill were watched on time at 5: 30 every afternoon, there was a Japanese anime that was deeply loved by everyone. The protagonist was a little girl with lovely classmates and warm family. Like all of us, she had the most simple troubles and the simplest happiness. She was the 9-year-old primary school student with her sister’s head-Cherry Maruko.

"Cherry Maruko" has no special ups and downs, and its painting style is very simple, but the short stories of ordinary people reveal their nostalgia for the daily life of ordinary Japanese people in the 1970s.

Even now, many netizens can see their own shadow from her life, which is also an important reason for the popularity of Cherry Maruko all the year round-Cherry Maruko has a warm and ordinary family, occasionally strict and often nagging about her mother and her father who loves to be cool, a sister who often quarrels and quarrels but is always trustworthy, and an amiable grandparents, as well as a best friend Xiaoyu, who will cry together, chat gossip together and make up quickly.

Like us, Cherry Maruko likes to be lazy and greedy. She will be late because of staying in bed and will leave her homework until the last day of the holiday, but her dream is not worse than others. She will be angry about the bad haircut, but a little thing will easily make her happy.

She is extremely short of money, likes money very much, and occasionally daydreams about getting something for nothing, but in the end, she feels that there are more important things in this world than money. Happiness is that although she is poor, everyone is healthy. Even occasionally, I will tell some cool big truths that are not in line with my age …

"Happiness won’t come by itself."

The reporter saw that netizens were infinitely sorry for the stop of "Cherry Maruko". Some netizens said, "Happiness will not come by itself! When I grow up, I can better appreciate the philosophy of life of Cherry Maruko. "Some netizens said," My life mentor is called Cherry Maruko. "

Although the cherry maruko in the animation is only 9 years old, there are many classic lines in it. Looking back now, they are actually philosophy of life. The reporter saw that many netizens listed "those words" that Cherry Maruko said in those years, such as "Some things are not that I don’t care, but what if I care?"

"Anyway, worrying or not worrying about the result is the same. In this case, isn’t it a loss to worry?" "Dreams should be great, desires should be restrained", "You can’t help losing your temper, you’d rather lose your books than suppress your health!" Wait a minute.

Some netizens said that the perspective of cherry maruko is sometimes admirable. This kind of cherry maruko teaches us a lot, but when we grow up and learn to cherish it, she will gradually fade out of our sight.

When the author died, netizens worried about a wave.

On August 15, 2018, Miura Miki, who created "Cherry Maruko", died at the age of 53. It is reported that Sakura, formerly known as Miura Miki, made her debut as a cartoonist at the university. In 1984, she began to use the pseudonym Cherry, and created the cartoon "Cherry Maruko". Cherry Maruko is based on the author’s own childhood experience, and the protagonist has the same name, date of birth, blood type, constellation and so on. It can be said that the cherry maruko is the cherry itself.

When Miura Miki died, netizens were worried that "Cherry Maruko" would stop, and it really stopped updating until this time affected by the epidemic.

Full screen "emotional killing" looking forward to returning

Counting the familiar Japanese anime, Cherry Maruko doesn’t have the magic pocket of Doraemon, the ever-changing magic of a beautiful girl warrior, and even less brave and fearless than Altman. She is probably the heroine with the least protagonist aura, an ordinary 9-year-old girl. But in countless afternoons watching animation, her happiness, troubles, affection and friendship have deeply touched us …

In the face of a full-screen message of "sentimental killing", some netizens said that the epidemic has dealt a heavy blow to the Japanese animation industry. In fact, in addition to "Cherry Maruko", many popular cartoons such as "One Piece" have also entered a state of suspension, and many comic dramas have also been postponed. Some insiders pointed out that if we can take this opportunity to increase the popularity of computer painting and promote industrial upgrading, it may be a transformation opportunity for the Japanese animation industry.

Cherry Maruko is a king of golden sentences. honest and frank has said countless golden sentences. Many people like Cherry Maruko’s favorite sentence is "As long as you are alive, something good will happen". Although the process of Japanese animation industry transformation must be difficult and cruel, netizens also hope to bring "Cherry Maruko" back.

Source: Yangzi Evening News

Original title: "After 30 years of continuous broadcasting, Cherry Maruko announced that it would stop! Netizen: Childhood will never come back. "

() The business review of the Board of Directors in 2022 is as follows:

　　I. The industry in which the company is located during the reporting period.

　　According to the "Guidelines for Self-regulation of Listed Companies of Shenzhen Stock Exchange No.3-Industry Information Disclosure" issued by Shenzhen Stock Exchange, companies are required to comply with the disclosure requirements of "food and wine manufacturing related businesses".

　　(1) Industry

　　The company is mainly engaged in the production, research and development and sales of functional sugar-erythritol and compound sugar products. According to the Guidelines for Industry Classification of Listed Companies (revised in 2012) issued by the CSRC, the company’s industry is "C14, food manufacturing".

　　(B) the stage of industry development

　　1. Development of functional sugar industry

　　Functional sugar is a kind of carbohydrate with special efficacy, and its efficacy is mainly reflected in the regulation of human microecology. Functional sugars are generally indigestible or indigestible components of human body, which have the functional characteristics of low calorie, low energy, regulating and improving intestinal flora, preventing dental caries, reducing blood fat and so on. They can play a role in low-energy foods and can be eaten by diabetics, obese patients and hyperglycemia patients. Due to the particularity of functional sugar, adding functional sugar into food to make functional food beneficial to human health has become one of the important trends in the development of health food industry. At present, functional sugar has formed a complete system with functional oligosaccharides, functional dietary fiber, functional sugar alcohols and functional monosaccharides as the main components, and its application scope is becoming wider and wider. In developed countries such as Europe and America, functional sugar has become an essential sweetener in people’s daily life and is widely used in various fields including food, beverage, dairy products, baking, wine, health care products, medicine, feed, daily chemicals, etc.

　　2. Policy support for functional sugar industry

　　In recent years, with the healthy consumption concept of controlling sugar and reducing sugar, it has gradually become a social consensus. Many countries levy sugar taxes to curb consumers’ excessive intake of added sugar. China has also issued a series of policies and regulations to encourage and support the functional sugar industry, providing a good macro-market environment for the development of the functional sugar industry. In 2016, the Guiding Catalogue of Key Products and Services of Strategic Emerging Industries (2016 Edition) included emerging fermented products such as sugar alcohol, automatic fermentor and automatic control system, and fermentation process optimization technology and equipment in the key products and services of strategic emerging industries cultivated by the state. The Central Committee of the Communist Party of China and the State Council jointly issued the "Healthy China 2030" Planning Outline, which pointed out that the next 15 years will be an important period of strategic opportunities to promote the construction of a healthy China. It is necessary to give priority to health, put prevention first, and promote a healthy lifestyle. Guide reasonable diet and carry out in-depth evaluation and research on food nutritional function; Develop new health service formats, implement comprehensive prevention and control strategies for chronic diseases, strengthen the prevention and treatment of common diseases such as hypertension, diabetes and obesity, strengthen oral hygiene, and promote healthy aging. In 2017, the National Nutrition Plan (2017-2030) issued by the General Office of the State Council proposed to actively promote the healthy lifestyle of the whole people and carry out the special action of "three reductions and three health". In 2019, the Action Plan for Healthy Stomatology (2019-2025) published by the National Health and Wellness Committee pointed out that a special action of "reducing sugar" will be launched.Primary and secondary schools and kindergartens restrict the sale of high-sugar drinks and snacks, and canteens should also reduce the supply of high-sugar drinks and high-sugar foods to improve consumers’ ability to confirm the addition of sugar to food nutrition labels. "Healthy China Action (2019-2030)" advocates that the per capita daily intake of added sugar should not exceed 25g, so as to study and formulate the limited intake of added sucrose for children in China as soon as possible, and advocate the substitution of natural sweetening substances and sweetening drinks.

　　3. Erythritol Industry in 2022

　　With the rise of the wave of sugar reduction, the demand for functional sugar has increased, especially the rapid development of functional sugar alcohols represented by erythritol. In 2022, due to the increasing downward pressure on the macro economy and the continued weakness of the consumer industry, the demand at the downstream consumer side slowed down. At the same time, with the early upsurge of domestic functional sugar industry, a large number of new erythritol enterprises gradually put into the market in 2022, which further intensified the competition in the industry. In the case of shrinking demand in the downstream market, the new overcapacity could not be digested by the market, the relationship between supply and demand gradually changed, and the market showed a situation of oversupply, and the price of erythritol was greatly reduced by the impact, which greatly reduced the profit space of industry enterprises.

　　4. Future development trend of functional sugar industry

　　With the sustained economic growth and the continuous improvement of income level, the realistic demand brought by aging and sub-health, and people’s in-depth understanding of nutrition and health, China is becoming one of the most important health and nutrition markets in the world. Due to the concern for health and the change and upgrading of consumption concept, consumers’ demand for functional and diversified consumption has spawned new application markets, promoted the development of health food field, and enlarged the growth space of functional health ingredients at the same time. Functional food additives have met the market upgrading demand of traditional food to functional food, and gradually showed the development trend of "big health" consumption direction in the market. At present, low-calorie healthy diet has become the development direction of people’s dietary consumption all over the world, especially low-calorie and sugar-free foods are growing faster and faster all over the world, which will provide a broad development space for erythritol. As an enterprise producing functional sugar alcohol-erythritol by biological fermentation technology, the company just caters to this consumption trend. Opportunities and challenges coexist in the future erythritol industry.

　　(B) cyclical characteristics of the industry

　　The production process of erythritol, the company’s main product, is fermentation production, and its main application fields are food and beverage addition. The product market is distributed all over the world, and the consumption level is less affected by the national macroeconomic fluctuations. Generally speaking, the erythritol production industry is not cyclical and seasonal, and the supply of starch and glucose required for production is relatively stable throughout the year, and there is no obvious seasonal feature. However, due to the limitation of fermentation process, some enterprises in the industry cannot continuously and stably produce in the hot and muggy environment in summer, and there are periodic shutdown and maintenance situations.

　　The raw material for erythritol production is glucose after starch saccharification, while the main raw material for starch production is corn. Corn planting is mainly distributed in North China, Northeast China and other regions. Shandong Province, where the company is located, is located in the corn deep processing zone, and the starch market is abundant, which has natural advantages in raw material procurement and processing. Regionally, China’s functional sugar alcohol manufacturing industry presents a certain geographical concentration distribution characteristics, mainly distributed in East China, North China, Northeast China and other regions.

　　(III) The position of the company in the industry

　　The company’s main product erythritol production capacity is 135,000 tons, and it is the largest erythritol production enterprise in the world at present. It has a good reputation and a strong brand advantage in the erythritol industry. The company’s Tianluyuan brand erythritol is rated as "Shandong Quality Brand" and "Shandong Famous Brand". The company’s erythritol production technology is outstanding, and the product quality has reached the international advanced level. With the advantages of erythritol production capacity and leading market share, the company has won the honorary titles of "Little Giant" enterprise specializing in specialty and innovation, and Shandong Technological Innovation Demonstration Enterprise. During the reporting period, the sales revenue of erythritol and its compound sugar accounted for 97.07% of the total revenue. As one of the important manufacturers of erythritol in the world, the company serves global customers with strong technical advantages, cost advantages, quality and service advantages.

　　

　　II. Main businesses of the Company during the reporting period

　　The company shall comply with the disclosure requirements of "food and wine manufacturing related business" in the Guidelines for Self-regulatory Supervision of Listed Companies of Shenzhen Stock Exchange No.3-Industry Information Disclosure.

　　(1) Main business

　　The company is a biological high-tech enterprise focusing on the production of erythritol by biological fermentation, which integrates research and development, production and sales, and is committed to the production of functional sugar alcohol-erythritol and its compound products and the research and development of new sweeteners. The company is an enterprise that started industrial production of erythritol earlier in China. Since its establishment, it has devoted itself to cultivating erythritol products for more than ten years, and has successively overcome many technological problems such as strain breeding, formula optimization, fermentation control, crystal extraction and so on. It has a good reputation and a strong brand advantage in the erythritol industry, and has gradually developed into a leading enterprise with the largest production capacity and leading product quality in the world.

　　(2) Main products and their uses

　　The company’s main products are erythritol and compound sugar. Erythritol is a natural, low calorific value, high tolerance, no dental caries and safe for diabetics. Erythritol products can be divided into different specifications according to the mesh size, and compound sugar products can be divided into different types according to the high-power sweeteners used.

　　(III) Business model of the company

　　1. Purchasing mode

　　The raw material procurement of erythritol can be divided into two parts: the main material and the auxiliary material. The company adopts the raw material stocking mode of "ordering by production" and formulates the procurement plan according to the order situation and production plan. For the main raw materials, the company adopts the purchasing mode of inquiry and price comparison. As for the procurement of main materials, after signing the bulk supply contract with suppliers, the company prepays the payment in batches and arranges the suppliers to deliver the goods to the factory continuously according to the production demand. The company keeps a small amount of inventory and the lead time is short. In the procurement of auxiliary materials, the company buys them in batches according to the production demand, keeps proper inventory, and the stocking cycle is longer than that of the main materials. The selection mechanism and standards of the company’s suppliers are as follows: the purchasing department initially selects suppliers through market research, inquiry and price comparison, and then comprehensively examines the supplier’s production and operation qualifications, product quality, corporate reputation and credit, production and operation stability and other standards to determine the partners.

　　2. Production mode

　　The company is oriented by customer orders and adopts the production mode of "fixing production by sales". According to the delivery time and product model of the customer’s order, the production plan is comprehensively arranged, and the production activities are organized to ensure the timely delivery of the order. Except for the special needs of customers’ orders and holidays, the company’s inventory of finished products remains at an appropriate level.

　　3. Sales model

　　The company adopts the sales model of "distribution-oriented, supplemented by direct sales". The sales department is specifically responsible for product sales, market development, customer order tracking and service. After establishing a cooperative relationship with customers, downstream customers sign contracts or place orders with the company by face-to-face, email, telephone or other means, and the products sold are directly sent to customers by the company, or to end customers by dealers after being sent to dealers, or directly sent to the receiving place designated by dealers by the company. The company’s sales staff make follow-up visits to customers to understand the changes in market demand.

　　In the development of new customers, the company expands new customer resources by participating in domestic and foreign food ingredients professional exhibitions organized by China Food Additives and Ingredients Association, industry-related forums, taking the initiative to visit, introducing existing customers, and attracting customers by relying on industry status and word of mouth. Among them, participating in industry professional exhibitions is an important way for companies to promote brands and products and obtain customer resources. At the same time, the company actively expands its online business and helps brand communication and sales through e-commerce platforms such as Taobao. During the reporting period, there was no significant change in the company’s business model.

　　(IV) Brand operation

　　At present, the company has major brands such as Tianluyuan and Yuanshengtian. As the core brand of the company for many years, Tianluyuan has been synonymous with stable quality and excellent quality in the erythritol market, and has accumulated profound customer resources and good market reputation in the industry, and has been rated as a well-known brand in Shandong and a high-quality brand in Shandong. According to the judgment of the future market, the company plans to launch a new generation brand of "Yuan Sheng Tian" with small packaging, realize the strategic layout of the company’s products from B-end to C-end, and further enhance the brand awareness and market influence of the company’s products.

　　(5) License and qualification certificate

　　(1) Operating income, cost and gross profit rate of sub-products.

　　(2) Operating income, cost and gross profit rate by mode.

　　(III) Changes of dealers by region

　　(four) the top five distribution customers

　　The company gives the dealer a certain account period and settles the account according to the agreed credit policy.

　　Reasons for price change and its impact on the company

　　Reasons for price change: The market price of erythritol products dropped sharply in a short period of time due to the sluggish terminal demand of erythritol products and the expansion of the industry.

　　Impact on the company: the company’s operating income has fallen sharply, and the net profit attributable to shareholders of listed companies and the net profit after deducting non-recurring gains and losses have fallen sharply.

　　

　　Third, the core competitiveness analysis

　　(A) the core technological advantages

　　1. Advantages of fermentation strains

　　In the process of erythritol fermentation, the fermentation strains used play an important role in the conversion rate of products. The fermentation strain used by the company is Yarrowia Lipolytica (Candida lipolytica), which holds the invention patent jointly with Shanghai Jiaotong University. The fermentation strain is cultivated by screening and mutating Candida lipolytica, which has the advantages of high erythritol conversion efficiency, energy saving and consumption reduction. The laboratory conversion rate of erythritol synthesized by the fermentation strains used by the company can reach more than 54.5%, which is significantly higher than the conversion rate of Candida lipolytica (32.9%-47%). In addition, the suitable fermentation temperature of erythritol fermentation strains is usually around 30℃, and the temperature of fermentation environment in some high-temperature months in summer sometimes exceeds the suitable temperature range of fermentation strains. When the cooling capacity of auxiliary refrigeration equipment is exceeded or the cooling is not economical, erythritol production enterprises have to stop production and repair, which seriously affects the output of erythritol. Through its own technology, the company continuously improved the fermentation strains used to improve the high-temperature resistance of the strains, ensured the continuity of erythritol production, and significantly reduced the comprehensive production cost.

　　2. Advantages of fermentation medium formula

　　The fermentation production of erythritol is a process of inoculating fermentation strains into fermentation medium for culture and fermentation, and then purifying and extracting. Fermentation medium plays an important role in the ability of fermentation strains to synthesize erythritol. In the long-term production practice of erythritol, the company constantly explores and optimizes the formula of fermentation medium. The company’s patent application document "A method to improve the conversion efficiency of erythritol production and its application" shows that the comparative experimental data show that under the premise of using the same fermentation strain and the same fermentation process, the conversion rate of erythritol in the optimized formula can reach up to 61.2%, while the conversion rate of erythritol in the traditional formula is usually 44.4%-46.3%. Thereby greatly improving the yield of erythritol.

　　3. Unique technological advantages of mother liquor recovery.

　　In the process of erythritol fermentation, a certain amount of by-products such as glycerol, ribitol, mannitol and arabinitol will be produced. The content of the above by-products in the mother liquor after concentrated crystallization for many times is generally higher than that of the residual erythritol, so it is impossible to further extract the residual erythritol in the mother liquor by conventional concentrated crystallization. The company cooperated with Shanghai Jiaotong University to apply for the patent "Method of extracting erythritol from erythritol mother liquor and its special yeast species". A new type of Candida lipolytica was obtained by screening mutation. The yeast strain can decompose other polyols and macromolecules except erythritol in the mother liquor of erythritol, and the purity of residual erythritol in the mother liquor can be improved from less than 50% to more than 70%. Then the company further improved the purity to 80% through continuous experiments, which provided favorable conditions for further crystallization and extraction of residual erythritol in mother liquor.

　　At the same time, the company innovated the process of erythritol sterilization, decolorization, concentration, crystallization and refining by its own technology, further optimized the extraction process of erythritol, fermented and extracted a certain amount of residual secondary mother liquor of erythritol again, and even extracted it for many times. It is a very effective technical means to improve the yield, save energy and reduce emission, and reduce the production cost, which is green and environmentally friendly. It not only lightens the environmental burden of enterprises, but also reduces the production cost of erythritol, which has remarkable economic and social benefits.

　　(2) Advantages of control technology and process level

　　Microbial fermentation process has high requirements for fermentation equipment, temperature control equipment, pressure control equipment, etc. If the corresponding equipment settings are unreasonable or the sensitivity cannot meet the requirements, the production efficiency will be reduced, the production cost will increase, and even the fermentation will fail due to bacterial contamination. Fermentation production needs to control temperature, pressure, ventilation and other conditions, and it needs to be constantly explored and summarized, and then the tank temperature, tank pressure, air flow, inoculation amount, bacterial age and so on which are in line with the growth, metabolism, reproduction and synthesis of bacteria should be formulated. These aspects all need high experience accumulation and electromechanical design ability. Similarly, process parameter control is a proprietary technology summarized by enterprises on the basis of long-term production adjustment experience, and enterprises usually protect it by means of technical secrets. In the process of erythritol fermentation, temperature, PH, dissolved oxygen and other parameters have great influence on the fermentation level. Accurate control of these parameters is of great significance to improve the conversion rate of erythritol. The company continues to improve the automatic control of fermenters, mixers, air compressors and other equipment needed for erythritol fermentation. After the improvement, the accuracy of the controller for temperature control is correspondingly improved, which can reach 0.1℃, which is greatly improved compared with the traditional manual control of 3-5℃. At the same time, instead of manual control, computer control can be controlled in advance according to the temperature change trend, preventing the problem of manual control lag and overcoming the problem of large inertia of temperature change in fermentation tank. In addition, the improvement of automation level reduces the workshop staffing and production costs.

　　(3) Advantages of information and automation production

　　Through the deep integration of ERP system and production automation system, the company has realized the effective linkage of procurement, production, storage and sales. The company’s continuous production integrates automation and information means, and several sets of intelligent production devices independently developed have realized one-button start and stop. Real-time visual monitoring, early warning and alarm can be carried out on various indicators and parameters in the production process, and historical parameters can be traced back, which ensures the conformity between production operation and process, provides a basis for process optimization analysis, and ensures the consistency of product quality and the safety of operation. The use of advanced information management system has improved the overall operating efficiency of the company, and the personalized needs of customers have been accurately and timely responded.

　　(D) R&D advantages

　　The company always insists on building the core competitiveness of the enterprise with scientific and technological innovation and talent construction as the center. On March 4, 2022, it established Sanyuan Bioengineering Research (Tianjin) Co., Ltd., a wholly-owned R&D subsidiary in Tianjin Free Trade Zone Airport Economic Zone. Relying on the high-quality scientific research resources of Chinese Academy of Sciences, Tianjin University, Tianjin University of Science and Technology, Tianjin Haihe Laboratory and other scientific research institutes, the subsidiary focuses on new resource foods, life and health, bio-based chemicals, key industrial strains and other fields, and is committed to the research and development of high-end applied technologies of synthetic biology. Project establishment and research and development have been carried out in green food, bio-based materials, chassis cell construction and metabolic pathway transformation. In the next step, we will continue to export innovative technologies and industrialized talents for the parent company Sanyuan Bio in terms of key core technologies for the synthesis of low-carbon bio-based products, so as to serve the upgrading of enterprises and the development of green economy. At the same time, the company actively cooperated with universities and research institutes. On September 26, 2022, the company signed an agreement with Shandong University on R&D technology center to jointly build a science and technology R&D center. The R&D center is implemented by the National Sugar Engineering Technology Research Center of Shandong University. It mainly focuses on saccharides such as hyaluronic acid, and based on the research and development accumulation of the research team in sugar science and sugar engineering, it focuses on the special medical food, cosmetics, drug delivery system and other major industrial directions of hyaluronic acid and other saccharides, and is committed to the research and development of key technologies and the transformation of scientific and technological achievements.

　　(E) Advantages of quality control

　　The company pays attention to the important policy of quality management and has established a complete quality management and control system, covering the whole process of procurement, production and sales. It has successively obtained the three-system certification of quality management (ISO 9001: 2015), environmental management (ISO14001：2015), food safety management (ISO22000：2018), international food safety quality certification (SQF), global food safety standard certification (BRC), KOSHER certification, and HALAL kosher certification (. The company strictly controls the quality of raw materials in the process of purchasing raw materials; In the production process, strict implementation of process standards, relying on production equipment and information system to achieve quality control, to ensure lasting and effective quality control; In the process of customer service, closely track the use of products and get the feedback information of product quality in time. Through strict quality control, the company has established the brand influence of its products, and has successively won honorary awards such as national "Little Giant" enterprise specializing in innovation, Shandong agricultural product processing industry demonstration enterprise, Shandong excellent enterprise, Shandong high-end brand cultivation enterprise, Shandong manufacturing single champion enterprise, Shandong specialized and innovative small and medium-sized enterprise, Shandong famous brand and Shandong high-quality brand.

　　(VI) Advantages of industrial scale

　　With a capacity of 135,000 tons of erythritol, the company is the largest erythritol producer in the world at present, with obvious advantages in industrial scale. The advantages of the company in production and operation scale can enhance the company’s ability to resist risks and consolidate and expand its market influence.

　　(VII) Geographical location advantages

　　The raw materials for erythritol production of the company’s products are mainly starch or glucose. Shandong Province is an important gathering place for domestic corn deep processing enterprises. Starch and glucose are adequately supplied, and the transportation cost is low. The manufacturers can supply them continuously and stably, which can meet the daily production needs of the company. The company can implement the turnover strategy of a small amount of starch inventory to reduce capital precipitation and storage costs. Moreover, the company’s erythritol products are mainly exported, and the production plant is close to (), which is convenient for export transportation and saves transportation costs. It has obvious location advantages.

　　

　　Fourth, the main business analysis

　　1. Overview

　　In 2022, due to the increasing downward pressure on the economy and the weak consumer industry, the demand in the downstream client market was sluggish, and the release of new production capacity made the market capacity difficult to digest, and the industry competition further intensified. At the same time, affected by the rapid fluctuation of exchange rate, the domestic and international market environment presents a grim situation, and the overall profitability of the company declines. Facing the complicated and severe business situation, in order to reverse the adverse impact of single product category, the board of directors of the company actively faced it, made scientific decisions, and all departments cooperated to overcome difficulties.

　　(1) Basic operation in 2022

　　In 2022, the company realized an operating income of 674,905,600 yuan, a decrease of 59.71% compared with the same period of last year; The net profit attributable to shareholders of listed companies was 163,686,600 yuan, down 69.43% compared with the same period of last year, and the net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 162,331,500 yuan, down 69.27% compared with the same period of last year.

　　(II) Key tasks in 2022

　　1. Save energy consumption and reduce production cost.

　　In 2022, the company directly purchased starch and extracted glucose as raw material after saccharification, which effectively saved the cost compared with directly purchasing glucose. In terms of energy, the company filed a distributed photovoltaic power generation project, and installed solar power generation components and power transmission and distribution grid-connected devices on the roof of the factory, which can meet the demand for electricity in production and reduce the cost of electricity.

　　2. Accelerate the construction of investment projects to ensure the company’s future sustainable operation ability.

　　During the reporting period, the production line with an annual output of 50,000 tons of erythritol was completed and put into production, and the 2,000-ton production line of the 20,000-ton psicose project began trial production. At present, the equipment of the above-mentioned projects is running stably, and the industrial optimization and equipment improvement will continue to be done according to the operation situation, so as to further reduce the consumption in the production process, and at the same time accelerate the construction of the remaining capacity of the psicose project, thus contributing to the future development of the company.

　　3. Intensify research and development, and broaden product categories.

　　The company has continuously increased R&D investment and the construction of R&D talent team. During the reporting period, the company invested in the establishment of Sanyuan Bioengineering Research (Tianjin) Co., Ltd., a wholly-owned R&D subsidiary, which will effectively supplement the company’s existing business and improve its core technology competitiveness in developing new products and corresponding technologies, establish an open scientific research platform, innovate cooperation mechanisms, and stimulate the vitality of scientific researchers, so as to better meet the needs of downstream customers. As the front-end R&D base of the company, according to the company’s strategic layout, the subsidiary takes technology as the starting point. On the one hand, it focuses on the optimization and process improvement of the company’s existing products, relies on the advantages and strength of R&D, and combines production with research to continuously improve the process technology, reduce the production cost of products and further consolidate the core competitiveness of the company’s products. On the other hand, around the company’s industrial development direction, in the field of functional sugar, do a good job in the company’s new product technology research and development and project reserve, and accelerate the transformation of scientific and technological achievements to promote the expansion of the company’s new business areas. During the reporting period, the company reserved new products such as stevioside, sodium hyaluronate, tagatose, sialic acid and polyglutamic acid. Up to now, new products such as high-quality stevioside, sodium hyaluronate (food grade), psicose mixed with stevioside and Siraitia grosvenorii (cocrystallization) have completed pilot tests, and will be mass-produced when conditions are ripe. New products, such as sialic acid and tagatose, have been developed and are being piloted, and will be introduced to the market as soon as the technology is mature.

　　4, strengthen external cooperation, strengthen product technology supply.

　　The company attaches importance to the mode of combining Industry-University-Research. During the reporting period, the company signed an agreement with Shandong University to jointly build a scientific and technological R&D center, namely, Shandong University-Sanyuan Biotechnology R&D Center. In response to the call of "double innovation" of the country, relying on the talent and technical advantages of Shandong University, it promoted the transformation of scientific and technological achievements and the development of related disciplines, and improved the company’s R&D ability and independent innovation ability. In the way of combining Industry-University-Research, it focused on the special medical food, cosmetics and drug delivery system of saccharides such as hyaluronic acid.

　　5. Promote the landing of retail products and enrich business development.

　　In order to realize the development of the company’s products from the B-end to the C-end, during the reporting period, the company subscribed for 20% of the equity of Peixuewu through capital increase, and with the help of Peixuewu’s experience and advantages in the retail market, the sales of the company’s products from the supply end to the retail end were accelerated, and the industry influence was enhanced.

V. Prospect of the Company’s Future Development

　　(A) the company’s development strategy

　　In 2023, in the face of more arduous tasks and challenges, the company will take market demand as the development direction, scientific and technological innovation as the development driving force, and based on the foundation and advantages of the company’s existing erythritol products, continue to consolidate its leading position in the market and strengthen the single product strategy of erythritol. At the same time, we will actively develop other functional sugar and other sugar products with market competitiveness, expand product categories with the development strategy of deep cultivation and development, promote the company’s business to cut into the development of special medical food, cosmetics, drug delivery system and other industrial tracks in the future, accelerate the products to the retail end, and meet consumers’ demand for green, healthy, safe and economical products. Enhance the company’s value, adhere to the business purposes of safety first, quality first and integrity first, and promote the healthy and stable development of enterprises.

　　(II) Business Plan for 2023

　　1. Continue to do a good job in the company’s existing main business, make good use of the company’s brand advantages, and promote the two lines of production and marketing in a coordinated manner. In production, we should persist in promoting technological innovation and technological innovation, focusing on optimizing the technological process of erythritol production, promoting energy saving and consumption reduction, and improving product quality; In sales, we should constantly explore marketing innovation and market innovation, continue to explore new customer groups and application fields, adjust the company’s product structure and sales policy in time according to the changes in production costs, and strengthen the control of the market.

　　2. Intensify the development of new products, focus on the development of new markets and new fields, focus on the higher-level needs of the people in the fields of medical care and health, food consumption, and vigorously develop bio-economy, and link the innovative needs of domestic and foreign customers with the innovative resources of the company to form an interactive innovation system. The company adopts the product development strategy of "listing generation, R&D generation and reserve generation". The specific business plans of each product in this year are as follows: (1) Erythritol products. On the basis of maintaining the existing production capacity, the company will continue to optimize the production process of erythritol and improve the product quality. (2) psicose products. By the end of 2022, the 2,000-ton/year psicose production line has been completed and put into operation, and the remaining capacity is expected to be completed and put into operation this year. (3) High-quality stevioside, sodium hyaluronate (food grade) and products such as the compound of psicose with stevioside and Siraitia grosvenorii (cocrystallization). These products have been developed in stages and successfully piloted, and the follow-up companies will mass-produce them in due course in combination with market industries. (4) New products such as sialic acid and tagatose. The company will lay out the process development and engineering research of these new products, expand the company’s comprehensive competitiveness in the industry, and make sufficient preparations for cutting into the special medical food, cosmetics and drug delivery system in the future. At present, the company has mastered the preparation technology of tagatose (to be biosynthesized) and sialic acid. The development and layout of the above new products will help the company to innovate in production technology and create new profit growth points for the company.Promote the company to use more advanced and competitive technology to create new products that are more in line with consumers’ health demands. The landing of new products will effectively improve the company’s current product simplification pattern and meet consumers’ differentiated consumption upgrading needs.

　　3. Focus on R&D innovation and technological upgrading, make full use of core technologies and accumulated experience, actively promote cooperation with leading domestic food fermentation research institutes and R&D institutions, strengthen product R&D capabilities, and improve the single product pattern of the company. At the same time, based on the existing asset accumulation and management methods, the company will continue to raise awareness of the protection and utilization of intellectual property rights, transform technological innovation into intellectual property assets in time, and provide support for the company’s product line expansion.

　　4, pays special attention to the implementation of production safety work, improve the level of energy conservation and environmental protection. Focusing on safety production, we will strengthen the safety production training for employees and the ability to deal with emergencies, improve employees’ awareness of safety production and environmental protection, stick to the bottom line of safety and environmental protection, regularly carry out hidden dangers investigation and rectification, ensure safe and stable operation of production, optimize production technology, save energy and reduce consumption, promote low-carbon and clean production in the production process, and create a safe, energy-saving and environmentally-friendly production environment. 5. Improve the standard operation level of the board of directors, actively play the central role of the board of directors in corporate governance, conscientiously implement the resolutions of the shareholders’ meeting in strict accordance with relevant regulations, make scientific and efficient decisions on major issues of the company, strengthen the construction of corporate governance and internal control, conscientiously fulfill the obligation of information disclosure, and improve the quality of information disclosure. Deepen the management of investor relations, earnestly safeguard the legitimate rights and interests of small and medium-sized investors, deepen investors’ understanding and recognition of the company, promote long-term and stable good relations between the company and investors, and jointly promote the steady progress of the company and achieve greater development.

　　(C) Future risks and countermeasures

　　1. Risk of intensified industry competition and fluctuation of market demand.

　　With the improvement of consumers’ health awareness and the upgrading of consumer demand for sugar substitute products, the erythritol industry continues to increase in popularity. Affected by the previous high prosperity of erythritol industry, a large number of new investors are involved and new production capacity will be gradually put on the market in 2022. In addition, the original enterprises in the industry continue to expand their production and the supply of the industry is greatly increased, which makes the market competition pressure of enterprises in the industry increase sharply. On the other hand, most of the company’s downstream customers are beverage enterprises. If the demand of downstream customers changes or the amount of erythritol is reduced, it will have an impact on the company’s sales, which may lead to a decline in the order volume of erythritol and its compound products, a decline in prices and an increase in the proportion of sales expenses. If the company can’t adapt to the competitive development trend of the industry by expanding production capacity and upgrading technology, the company’s industry position and market share will face certain risks, which will adversely affect the company’s operating performance.

　　The company will constantly improve the enterprise development and the layout of the market network, continuously increase technical input, give play to and maintain the advantages of the company’s brand, technology, quality and efficiency, and improve the company’s core competitiveness. At the same time, the company will rely on the advantages of extensive customer resources to deeply understand customer needs and market dynamics, and by mastering the latest trends of industry technology development and developing products suitable for customer needs, it will greatly enhance customer viscosity and maintain the dominant position in market competition.

　　2. Risk of single product structure

　　Since its establishment, the company has been focusing on the research and development, production and sales of erythritol products, gradually accumulating industry-leading product quality, production efficiency and many well-known customers, and gradually growing into a leading enterprise in the global erythritol industry market share. During the reporting period, the company complied with the market demand, gradually introduced compound sugar products and psicose, and actively developed new products such as rebaudioside M, but the company’s product structure was still dominated by erythritol. In 2022, erythritol revenue accounted for 85.16% of operating income. It has a significant impact on the company’s operating performance. If the demand or supply of erythritol industry fluctuates significantly, or the company’s new product research and development cannot meet expectations, it will have an adverse impact on the company’s operating performance, and the company faces the risk of a relatively simple product structure.

　　The company will continue to pay attention to speeding up the research and development of new products. At the same time, it will start to promote the technological development and transformation of new products such as stevioside, sodium hyaluronate (food grade), tagatose, sialic acid and polyglutamic acid, and actively expand the company’s product categories to meet the rich requirements of the market.

　　3. Risk of rising purchase price of raw materials

　　In 2022, raw materials accounted for 60.18% of the main business cost. The main raw material of erythritol and compound sugar in the company was starch, and the processing raw material of starch was mainly corn. Therefore, the fluctuation of corn price would have an impact on the starch price and the cost of erythritol and compound sugar in the company. The price of corn is influenced by climate, planting area, national grain purchasing and storage policy, and other complex factors such as the corn market in the international market and the performance index of corn itself. If the price of corn increases greatly in the future, which will lead to a sharp increase in the price of starch, it will adversely affect the profitability of the company.

　　The long-term supply contract between the company and some downstream customers adopts the pricing scheme of "processing fee+raw material cost" or an agreed price negotiation mechanism, so as to stabilize the company’s profits, improve the utilization rate of raw materials through technological innovation and process improvement, reduce the level of material consumption, alleviate the cost pressure caused by the fluctuation of raw material prices, strengthen the management of procurement links, reasonably maintain raw material inventory, and reduce procurement costs.

　　4. Risk of political, economic, trade and tariff policy changes in export areas.

　　The company’s export destinations are mainly Europe, America, Southeast Asia, Japan, South Korea, Australia and New Zealand. At present, most of them belong to open developed countries and regions, with stable politics, stable economic development and stable foreign trade policies. Once the political, economic, trade and tariff policies in the export areas change, it will have a certain impact on the company’s exports. The company will focus on industry trends, keep abreast of foreign political, economic and trade policy trends, adjust the company’s strategic planning in time according to market conditions, reduce or pass on some risks caused by changes in political, economic, trade and tariff policies in export areas through measures such as price adjustment and purchase of export credit insurance, focus on team building, improve the ability and level of the company’s management team, and enhance the ability to resist risks.

　　5. Exchange rate risk

　　The company’s business is mainly export. In 2022, the company’s export income accounted for 70.20% of the current main business income, and the company’s exchange gains and losses accounted for -23.28% of the current total profit. The company’s export trade is mainly settled in US dollars, and the exchange rate between the settlement currency and RMB may fluctuate with the changes of domestic and international political and economic environment, which has great uncertainty. If the RMB exchange rate fluctuates greatly in the future, it will lead to fluctuations in the amount of exchange gains and losses in financial expenses, which will expose the company to the risk of exchange rate changes.

　　The company will pay attention to the follow-up study of the foreign exchange market, grasp the trend of exchange rate changes as timely, comprehensively and accurately as possible, and at the same time, make use of the wide distribution of export areas to diversify the settlement currencies as much as possible. The company strives for customers’ understanding, and makes adaptive adjustments to the quotations of export products according to exchange rate changes, and the risk of exchange rate fluctuations is shared by both parties. By gradually increasing the proportion of advance payment for export products, the company shortens the collection period and speeds up the settlement of foreign exchange, so as to reduce the risk of exchange rate changes.

　　6. Risk of decline in gross profit margin

　　In 2021, the company’s comprehensive gross profit margin was 41.99%, which remained at a high level. In 2022, erythritol was affected by factors such as macroeconomic downturn and intensified market competition, and its sales volume decreased, its price fell, and its gross profit margin dropped significantly. If the future market competition is further intensified, the sales price of main products continues to decline, the price of raw materials rises, the labor cost rises and other unfavorable factors, the comprehensive gross profit margin will probably continue to decline, which will adversely affect the company’s profitability.

　　The company will strengthen the management of costs and expenses, reduce production costs by controlling suppliers, improving automation level, strengthening production site management and improving product yield, so as to ensure the stability of product gross profit margin.

　　7. Risk of declining business performance

　　In 2022, the company’s operating income was 674,905,600 yuan, a decrease of 59.71% compared with the same period of last year. In 2022, the company achieved a net profit of 163,686,600 yuan, a decrease of 69.43% compared with the same period of last year, and its operating performance declined.

　　Guided by the market demand, the company will vigorously develop new technologies and products, introduce new products with high added value and meet the market demand, and at the same time tap the potential of existing products to increase efficiency and strive to improve the overall performance level of the company.

　　8. Risks of possible changes in major customers

　　During the reporting period, the company’s sales revenue to the top five customers accounted for 35.44% of the total annual sales, with a high concentration of major customers. In 2021, the company’s largest customer, Yuanqi Forest, did not purchase raw materials from the company in 2022 due to intensified competition in the erythritol industry, insufficient demand in the superimposed beverage market and changes in its own operations. If the production, operation and cooperation of other major customers change significantly in the future, or if they reduce their purchase orders to the company, or if the company fails to continuously develop new customers, it will have an adverse impact on the company’s operating performance.

　　By developing new products to meet the requirements of different market levels, the company actively expands new customers, including small and medium-sized enterprises, cultivates and expands customer groups with the model of "key customer strategy+standard system", enhances the bargaining power of the company in product price negotiation, and implements differentiated product strategies to meet the different needs of customers.

　　Cctv news(News Network): The construction of Guangdong-Hong Kong-Macao Greater Bay Area is a major national strategy personally planned, deployed and promoted by the Supreme Leader General Secretary. This year marks the 5th anniversary of the release of the Outline of Guangdong-Hong Kong-Macao Greater Bay Area Development Plan. In the past five years, young Greater Bay Area has kept in mind the entrustment of the Supreme Leader General Secretary, courageously stood at the forefront, worked hard to forge ahead, and made every effort to build a strategic fulcrum of the new development pattern, a demonstration place for high-quality development, and a leading place for Chinese modernization.

　　At the beginning of the Spring Festival, the construction of the Shenzhen-China Passage is being stepped up, as are the cross-river and sea-crossing passages such as Shiziyang and Huangmaohai. The infrastructure such as the Hong Kong-Zhuhai-Macao Bridge, the Guangzhou-Shenzhen-Hong Kong High-speed Railway, the Nansha Bridge and the Guangzhou-Shantou High-speed Railway has achieved "hard connectivity", and the convenient and accessible transportation network has accelerated the integrated development of Greater Bay Area.

　　Building Guangdong-Hong Kong-Macao Greater Bay Area is a major decision made by the CPC Central Committee and a major national strategy personally planned, deployed and promoted by the Supreme Leader General Secretary.

　　In February 2019, the Outline of Guangdong-Hong Kong-Macao Greater Bay Area Development Plan was published.

　　In April, 2023, General Secretary of the Supreme Leader pointed out that Guangdong-Hong Kong-Macao Greater Bay Area should be the strategic fulcrum of the new development pattern, the demonstration place of high-quality development and the leading place of Chinese modernization.

　　"Hard Unicom" is improving day by day, and "Soft Unicom" is accelerating. Guangdong, Hong Kong and Macao deepen the convergence of rules and mechanisms in terms of systems. On February 1st, the second batch of "Bay Area Standards" list was published, and 73 standards were added on the basis of the first batch of 110 standards, covering 32 fields such as food, housekeeping and workplace skills training, and "integration" further entered residents’ lives. The construction of the "Digital Bay Area" was started, and 108 government services were implemented across the border between Guangdong and Hong Kong. The "Bay Area Access" project was implemented in depth, and the "one thing, three places, one policy and three places" were further promoted. The commercial registration of enterprises in Hong Kong and Macao was realized through one network, and the start-up time of enterprises was reduced to one working day. The trial period for lawyers from Hong Kong and Macao to practice in mainland China in Greater Bay Area was extended for three years, and the scope of practice for professionals from Hong Kong and Macao was increased to 22 categories. The first "dual-license" overseas bank in China officially landed.

　　The international science and technology innovation center is a major strategic orientation of Guangdong-Hong Kong-Macao Greater Bay Area. At the beginning of 2024, the construction of Guangdong-Hong Kong-Macao Greater Bay Area International Science and Technology Innovation Center has made new moves. At the beginning of January, the list of the third batch of 11 joint laboratories in Guangdong, Hong Kong and Macao was released. The total number of joint laboratories in Guangdong, Hong Kong and Macao reached 31, and the scale of collaborative innovation platforms in the three places continued to expand. In Shenzhen Guangming Science City, the synthetic organism scientific apparatus is running smoothly. In Dongguan Songshan Lake Science City, China spallation neutron source, Songshan Lake material laboratory and so on form a cluster. Through these large devices and experimental platforms, scientists from Guangdong, Hong Kong and Macao can effectively carry out cutting-edge scientific research.

　　In the Hetao Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone, the first branch of the Hong Kong Science Park in the Mainland has landed more than 30 Hong Kong science and technology institutions and enterprises, including two international applied basic research institutions and 17 Hong Kong youth start-ups.

　　At the end of last year, the total contracted investment of Guangdong-Hong Kong-Macao Greater Bay Area Global Investment Promotion Conference reached 2.24 trillion yuan, and these projects are now landing.

　　In the past five years, Greater Bay Area’s total economic output has risen from over 10 trillion yuan to over 13 trillion yuan, creating 11% of the country’s GDP with less than 1% of the country’s land area and 6% of its population, which has become a source of high-quality development.

Hualong. com-New Chongqing Client News (Reporter Yan Yi) "Which time period is the cheapest time-of-use electricity price?" "How to save energy and electricity in daily life?" ….. This (11th) morning, "the speaker is here"-a series of policy interpretation and release activities of "Welcome the Peak and Spend the Summer" in Yubei District were held in Shichuan Town, Yubei District.

During the activity, Zhao Bing, deputy head of Yubei District, came to the masses to answer questions for everyone. Five spokespersons of Yubei District Economic and Information Technology Commission, District Forestry Bureau, District Fire Rescue Detachment, State Grid Chongqing North Power Supply Company and Shichuan Town also patiently explained the policies of "welcoming the peak summer" such as civilized electricity consumption and fire prevention, and advocated the safe use of electricity and scientific energy saving in the whole society. Applause broke out from time to time at the scene.

Policy subsidies promote power supply.

"Draw electricity from outside, generate electricity by yourself, and save electricity." Zhao Bing, deputy head of Yubei District, summed up the efforts made by Yubei District in ensuring power supply with three key words. Zhao Bing introduced that Yubei District, as an economic region and a population region, has the highest electricity load of more than 1.7 million kilowatts in the whole society, with large demand and great pressure to ensure power supply. In order to solve the problem of electricity consumption in the jurisdiction, the main leaders of the Yubei District Government took the lead in setting up a leading group to meet the peak and spend the summer, adhered to the working idea of "ensuring people’s livelihood, stability and development", and exerted efforts around the supply side and demand side to fully protect the people’s livelihood electricity consumption and economic and social development in the whole region.

Specifically, the external electricity diversion is mainly in accordance with the deployment of the whole city, and the first stop of Xinjiang electricity entering Chongqing is in Taihe Village, Dawan Town, Yubei, where the UHV converter station is under construction. The project is expected to be completed in 2025. By then, the electricity generated by Hami, Xinjiang will be able to cross more than 2,000 kilometers directly to Chongqing in 7 milliseconds, which will bring nearly 40 billion kWh to Chongqing every year. In addition to external introduction, Yubei District is also enhancing its power generation capacity. On the one hand, it is a 700,000 kW natural gas power generation project that has started construction, and it is expected to be put into use next year. On the other hand, enterprises in the jurisdiction are promoting the use of photovoltaic panels on roofs to increase the supply of green electricity and optimize the electricity consumption structure in Yubei District; Regardless of external introduction or self-construction, the electricity consumption situation in Yubei District is still very tight due to factors such as construction period. Therefore, Deputy District Chief Zhao Bing also called on enterprises, institutions and residents in Yubei District to jointly save electricity.

According to Peng Mingliang, deputy director of the Economic Information Committee of Yubei District, in order to encourage enterprises to generate electricity by themselves, Yubei encourages enterprises to lease (purchase) diesel generators. While implementing the municipal subsidy policy, the district has formulated a subsidy policy for Yubei District, and the budget has special funds to subsidize industrial enterprises in the district to lease and purchase diesel generators.

According to reports, the application for diesel generator subsidies is reported by industrial enterprises to the Yubei District Economic Information Committee, and materials such as lease (purchase) contracts, payment vouchers, invoices, authenticity and compliance commitments, supporting pictures and materials are provided in quadruplicate, which are bound into a book; The Committee will, together with the Park, Zhenjie and Shibei Power Supply Company, carry out preliminary examination and verification on the application materials of enterprises, and then report the materials of qualified industrial enterprises to the office of the special class of electric power, coal and electricity for peak summer in the city to apply for subsidies.

Staggered peak power consumption can effectively save energy and electricity.

Apart from industrial enterprises, how can residents meet the peak summer? Dong Yan, assistant general manager of State Grid Chongqing Shibei Power Supply Company, presented his views and told everyone about civilized electricity use and scientific energy-saving methods.

"First of all, we should pay attention to the use of air conditioners. Setting the air conditioner temperature at 26°C is both comfortable and energy-saving. Cleaning the indoor unit of air conditioners in time can effectively save energy by 10%-20%; At the same time, minimize the standby of electrical equipment and reduce the use of high-energy and high-power equipment. In addition, off-peak electricity consumption is also a good way to save energy scientifically. " Dong Yan said.

According to Dong Yan, since June 1st this year, the time-of-use electricity price policy for Chongqing residents has been implemented by users voluntarily. The time-of-use electricity price will be divided into three periods: peak, low and flat, and different price standards will be set for each period. Peak hours: 11: 00-17: 00, 20: 00-22: 00, with an increase of 0.10 yuan/kwh on the basis of flat electricity price; During the off-peak period: 00: 00-08: 00, 0.18 yuan/kWh will be reduced on the basis of the flat electricity price; The remaining time is the flat electricity price, which is 0.52 yuan/kwh.

"Is the time-of-use electricity price worthwhile?" The on-site residents asked questions.

"Implementing the time-of-use electricity price, using electricity to avoid the peak period and using electricity during the off-peak period can effectively reduce the unit price of electricity." Dong Yan answered, and called on the general public to make concerted efforts to meet the peak of summer.

According to Meng Liang, the armed minister and deputy mayor of Shichuan Town, Yubei District, Shichuan Town, at the event site, since the peak summer, Yubei District has called on residents to save electricity, and Shichuan Town has taken active actions and taken the initiative to promote electricity conservation, civilized electricity use and safe electricity use by adopting "online+offline" methods, and guided residents to actively participate in electricity conservation actions such as "time-of-use tariff" and "e-saving electricity", with a total participation of more than 800.

Take many measures to solve the forest fire prevention problem of "one high and three many"

Hualong. com-The new Chongqing client reporter learned from the site of the release event that forest fires seriously damaged forest resources and ecological environment, and did harm to people’s lives and property and public safety. Summer forest fire prevention in Yubei District is generally facing the situation of "one high and three more". From July to September every year, there will be a meteorological grade of highly dangerous forest fire for about 10 days in the whole district, which is likely to cause forest fires. At the same time, forest fire prevention is facing a severe situation and great challenges because there are many tourists entering the mountains, many combustible materials under the forest and many interlaced areas between forest and agriculture.

"In order to cope with the forest fire prevention problem of" one high school and three more ",our bureau issued a fire ban order, prohibiting all the use of fire in the field, and all 73 checkpoints were opened, strictly implementing code scanning into the mountains and collecting fire sources. Forestry and public security set up special classes to crack down on illegal use of fire in the field, and severely investigated and dealt with illegal use of fire in the field according to law. 121 battle maps with 1: 5000 topographic maps and image maps were produced. In high fire danger weather, the professional team of forest fire protection in state-owned forest farms was stationed in front to ensure early fighting and small fighting. " Tang Qingrong of Yubei Forestry Bureau said.

"Will the fire ban affect our normal life?" The citizens at the scene raised doubts in their hearts.

Tang Qingrong explained that the fire ban is to enhance the national awareness of forest fire prevention and reduce forest fires. In order not to affect the normal life of the people, it is the most basic and fundamental effective means to control and prevent forest fires by controlling the outdoor use of fire in forest fire prevention areas during the forest fire prevention period. At the same time, in order not to affect the people’s production and life, the fire ban time is the annual forest fire prevention period, and the fire ban area is within 100 meters of all woodland and its outside in the administrative area of Yubei District.

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