Although China Telecom has announced the acquisition of C network in a high-profile way before, to be precise, at 8 o’clock today, when China Telecom completely completed the delivery of the C network system with the local Unicom company, it really meant that the handover of C network was finally completed, and it also meant that the connection between China Unicom and the C network that had been cultivated for 7 years ended.

　　Unicom stopped handling C network business.

　　After the reorganization of telecom, China Telecom took over the front-end marketing operation of C network from October 1st.

　　However, as a transitional measure, China Unicom business hall can continue to handle C-network business and recharge. With the completion of the delivery of network system equipment of C network, the historical mission of China Unicom has come to an end.

　　The reporter learned that from 0: 00 on December 6, the C-network prepaid card issued by China Unicom has stopped using, and Unicom’s "full-service prepaid card" and "C-network one-way prepaid card" will no longer be able to recharge CDMA mobile phone numbers.

　　However, the reporter asked China Telecom’s 10000 hotline yesterday, and the staff said, "If Unicom’s recharge card is within the validity period and the password has not been scraped, users can take their cards and ID cards to the telecom business hall and exchange them for equivalent telecom recharge cards." It is understood that the card replacement period will last until the end of March next year.

　　Beijing Unicom said that in the future, CDMA users will not be able to handle C-network business in Unicom’s online business hall. If you call 10010 customer service, you will also transfer C-network users to 10000 customer service of Telecom to handle business. However, Unicom’s business hall will still keep the counter for CDMA business, which will be specifically responsible by the telecom stationed personnel. Unicom’s business hall will continue to handle C network business until the end of February next year.

　　80 billion yuan for the new owner to transform the C network.

　　After the news of telecom reorganization was released, CDMA users once lost quickly. By the end of September, there were only over 40 million households left. How the new owner views C network largely determines the future of CDMA.

　　"China Telecom plans to invest 80 billion yuan to transform the CDMA network in the next three years, and actively solve the coverage of cities, counties and townships below the county level." Leng Rongquan, vice president of China Telecom, said. He revealed that from the end of this year to the first half of next year, China Telecom will complete the expansion and reconstruction of the C network in more than 340 cities across the country.

　　This undoubtedly gave C network users a reassurance. However, China Telecom seems to have higher expectations for C network.

　　The reporter learned that China Telecom is stepping up the formulation and research of the international roaming scheme for C network. At present, it is organizing chip, terminal and system manufacturers to implement the roaming scheme from C network to G network. In other words, if there is no CDMA network in a certain country, as long as the G network operator of that country and China Telecom sign the roaming services of C network and G network, the users of China Telecom’s C network can realize the smooth transition from C network to G network, and realize all the seamless roaming in the world just like G network.

　　Unicom expects 3G to win.

　　China Unicom opened the C network in November 2001, and it has been 7 years since then. Although people have different opinions on China Unicom’s operation of C network, China Unicom, which is a non-dominant operator, undertakes the operation of two networks, and its achievements cannot be denied.

　　After China Unicom stripped off the C network, it also faced the problem of adjusting its development direction. Chang Xiaobing, CEO of China Unicom, said, "Now the three major telecom operators have completed the basic restructuring. I believe that the central government will speed up the issuance of 3G licenses and expect to be issued 3G licenses by the end of the year." This shows the eagerness.

　　The reporter learned that Unicom’s 3G network, the first WCDMA trial network, plans to launch the trial on December 31st this year. At present, Unicom users in Wuxi have been able to apply to participate in WCDMA technical trials by sending short messages; China Unicom also plans to complete the deployment of WCDMA network in big cities in the first half of next year.

　　Just at the end of last month, Xi Guohua, vice minister of the Ministry of Industry and Information Technology, made it clear that the telecom restructuring was basically ready, and the time for issuing 3G licenses in China was "basically ripe". Xi Guohua’s statement once again confirmed the speculation that 3G licensing has entered the countdown stage.

　　Experts in the industry believe that the date of 3G business development is the beginning of a new reshuffle in the telecommunications industry. (Meng Wei)

Editor: Liu Li

Original medical xiaobai medical pediatric channel

What should I do immediately after a fall?

On duty today, a mother called and asked:

My baby is 4 years old. I was playing with a scooter at home around 2 pm, and I accidentally fell. My head hit the table, but there was no bleeding. At that time, I felt my scalp and bulged a bag. With ice, the lump went down, and the child didn’t say anything else was uncomfortable, so he continued to play. I had a headache at dinner just now, and I felt a little nauseous and nauseous. Do you need to have a head CT?

Open the news web page, enter "children fall" in the search engine, and you can see all kinds of events about children fall.

In real life, the incidents of falls are also endless, and almost every day there are children who come to see a doctor because of "falls" and "bumps".

▋ So, why do babies fall more easily?

Babies under 3 years old often fall down from the corridor due to poor care of adults, or sitting on a high platform without protection, or even teasing young children to throw their hands.

Children aged 5-9 have just left adult care to go out alone, lacking safe and dangerous experience, and often have been involved in risks without knowing it. At the same time, children of this age are curious and active, like to chase and fight, climb high at risk, lack safety self-control, and easily slip and fall in play, causing tragedy.

Children over the age of 10 fall mostly in sports and entertainment, such as falling when they are chasing and playing with classmates during recess, slipping or being knocked down while running in physical education class, or falling on skating or skateboarding.

▋ What factors are related to whether the baby falls seriously or not?

▼ Fall height

The higher the drop, the heavier the injury and the more complicated the injury. The study found that children with falling falls below 3m were mainly fractured limbs; The possibility of head and abdominal organs injury increases for those who fall more than 3 meters.

▼ Landing position

Compared with adults, children’s heads account for a large proportion of their bodies, and when they fall, their body center of gravity moves to the side of their heads, so that their heads often land first; If you fall from a height, trying to stretch your arms to stop the downward impact at the moment of landing often causes upper limb injuries and head injuries to coexist. Therefore, among the fall injuries, children have more brain injuries and limb fractures than adults.

▼ Age and weight also have a certain influence on the injury.

The greater the mass, the greater the impact force on the ground when landing, and the stronger the recoil force on the ground, thus aggravating the damage.

▋ What are the general performances after a fall?

Local hematoma

bleed

Headache, vomiting

agitated

somnolence

Irritate

lags in response

Coma convulsion

Limb movement disorder

▋ What circumstances should I see a doctor in time?

Fall from a height of 1-2m.

Hit by a high-speed flying object

Hit by a high-speed vehicle

Loss of consciousness after a fall or failure to wake up for several minutes

Frequent vomiting

Obvious headache, dizziness, or gradual aggravation of symptoms.

convulsion

Sleepiness after a fall (you can simply answer after waking up and fall asleep soon), poor spirit, blurred consciousness or coma (you can’t wake up)

Hemorrhage of nasal cavity and external auditory canal, ecchymosis behind ear, panda eye

Unresolved emotional excitement, screaming.

A child whose fontanel is not closed, whose fontanel bulges.

Weakness or rigidity of arms and legs, clumsy walking posture, slurred speech, squint or inability to see clearly.

Bleeding

▋ Possibly, 100% treasure mothers would like to know: What should the baby do the first time after a fall?

Although they are worried when they see their children fall or get hurt, they should keep calm.

Never pick it up immediately, wait for a few seconds, remember the baby’s falling posture, so as to judge where the impact is serious, so as to accurately inform the doctor.

At the same time, observe whether the baby is inconvenient to move, so as to judge whether the baby has serious trauma such as dislocation and fracture.

If you see your baby bleeding, be sure to press the wound to stop bleeding, and don’t rub it.

If the wound looks very light, but only scratches a little skin, iodophor can be used to disinfect the wound from the inside out.

If the injured part is swollen, it means that there is subcutaneous bleeding. You can use an ice pack for 20 minutes, and it is best to put a towel between the ice pack and the skin to avoid frostbite.

If the baby vomits, be sure to avoid eating and drinking, and let the baby lie on his side or tilt his head to one side to avoid aspiration.

After a fall, do you need to do a head CT?

Compared with the fracture, the treasure mothers are more afraid of the baby’s head injury, and they are afraid of falling out of their brains, so they always think about whether they need to have a head examination.

For those children who only have a history of trauma or have no clinical symptoms and signs, or have no changes in vital signs, CT examination of the head can be temporarily omitted.

However, parents should still pay attention to the baby’s situation in the next 24-48 hours. If there are any of the above situations that require medical treatment, they should send them to the doctor in time and improve the relevant examinations.

▋ Instead of being wise after the event, prevention is the key!

It is said that nip in the bud, in order to reduce the occurrence of tragedy, we can take the following measures:

Babies under 3 years old must be cared for by special people;

You can’t watch your children while playing with your mobile phone;

Don’t let the baby stay on the bed or chair by himself;

Install a protective mat at the corner of the table at home;

Keep the ground as clean as possible to avoid falling injury caused by toys or carpets;

Windows and balconies at home are locked, and tables and chairs that can be climbed cannot be placed next to them;

In the playground, children are not allowed to play with dangerous game facilities;

For school-age children, be sure to repeatedly tell them to obey the traffic rules before they go out.

So, after reading this article, do you know about the "4-year-old baby needs to do head CT" mentioned at the beginning?

References:

1. Huang Ye-li, Cai Wei-ping, Huo Shi-ying, Yang Gui-e. Research progress on causes and prevention of accidental injuries in children [J]. Journal of Naval General Hospital, 2005(01):41-43.

2. Tan Zongkui, Xu Yongnian, Chen Zhuanghong, et al. Chinese Journal of Pediatric Surgery, 1994; 15(5): 288.

3.Warner KG . Demling RH. Ann Emerg Med,1986; 15:1088.

4. Han Sufang. Diagnostic value and rational application of CT in children with acute craniocerebral trauma [J]. Journal of Practical Medical Imaging, 2002(02):94-95.

Source of this article: Medical Pediatric Channel

Author: Medical Xiaobai

Editor in charge: Li Xiaorong

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The exterior design of Jietu Dasheng i-DM adopts a unique front face shape and is equipped with a large air intake grille, which shows its strong sense of movement. The overall style is full of modernity and technology, and the streamlined body lines and sharp body contours make it stand out on the road. The design of Jietu Dasheng i-DM is both fashionable and practical, which shows its unique characteristics.

The body size of Jietu Dasheng i-DM is 4590mm*1900mm*1690mm, the wheelbase is 2720mm, and the front and rear wheel tracks are 1610mm and 1615mm, which ensures a stable driving posture. Smooth side lines, 19-inch rims and 235/55 R19 tires further enhance the sense of movement and visual effect of the vehicle.

The interior of Jietu Dasheng i-DM adopts a simple and scientific design style, giving people a comfortable and modern feeling as a whole. The steering wheel is wrapped in leather, which is comfortable to touch and supports manual adjustment up and down and back and forth, providing a good operating experience for drivers. The central control area is equipped with a 15.6-inch high-definition touch screen, and a rich multimedia system, navigation and voice recognition control system are built in. The functions of multimedia, navigation and air conditioning can be easily controlled through voice commands, which improves the convenience and intelligence of driving. In addition, the car is equipped with four USB and a Type-C interface, which is convenient for front and rear passengers to charge electronic equipment. The seat is made of imitation leather. The main driver’s seat supports front and rear adjustment, backrest adjustment and height adjustment. The co-pilot seat also supports front and rear and backrest adjustment, while the rear seat supports proportional reclining, providing a more flexible and comfortable riding experience for the occupants.

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Since 2012, the postal express business volume has increased by 14 times.
Wide coverage and smooth circulation

Let the postal route cover the whole country, let the courier go to the countryside and enter the village, so that every family can enjoy high-quality delivery service. Since the 18th National Congress of the Communist Party of China, China has focused on key points, supplemented shortcomings and strong and weak items, and built a modern postal express industry that is suitable for a well-off society in an all-round way. The scale of industry revenue increased from 198 billion yuan in 2012 to 1.1 trillion yuan in 2020, with an average annual growth rate of 24%; The volume of express delivery business increased from 5.7 billion pieces to 83.5 billion pieces, a net increase of 14 times.　　

In today’s China, the postal express industry, which has been ranked first in the world for many years, is still pursuing further, faster and better, providing strong support for the smooth economic cycle.　　

-the service network has been continuously improved, and all the established villages have direct mail.　　

By the end of 2020, the postal express delivery industry had 349,000 outlets of various types, and the total length of postal routes (one way) reached 11.874 million kilometers. The equalization of universal postal service has basically been realized, and all the established villages have realized direct postal service. By the end of 2020, there were 224,000 express service outlets and 207,000 service networks nationwide, and the coverage rate of township outlets reached 98%. The level of express delivery service has been significantly improved, and the proportion of express delivery directly to the village has exceeded half.　　

-technological innovation has achieved fruitful results and greatly improved service efficiency.　　

From manual sorting to auto production line, to fully automatic sorting equipment and robotic arms, to wearable devices such as mobile phones and rings, new scientific and technological achievements have helped the express delivery industry to improve quality and efficiency. By the end of 2020, the whole time limit of express delivery service in key areas has been shortened to 58 hours.　　

-industrial integration continued to advance, helping to cultivate the domestic demand system.　　

In recent years, postal express delivery industry has played an important role in accelerating the development of rural industries, expanding consumption scale and circulating agricultural products in China. In 2020, the postal express industry will drive industrial products to the countryside and agricultural products to the city to sell more than 1.5 trillion yuan. According to the data of the State Post Bureau, in the first seven months of this year, a total of 249 "one place, one product" projects of modern agriculture with express delivery services were formed nationwide, which was close to the level of last year. Among them, there are 45 gold medal projects with business volume exceeding 10 million pieces.　　

"Since the 18th National Congress of the Communist Party of China, the reform and development of China’s postal express delivery industry has reached a new level." Ma Junsheng, director of the State Post Bureau, said, next, the postal express delivery industry will further implement the strategy of strengthening postal service through science and technology, and build a delivery network with a daily processing capacity of over 1 billion pieces and a service capacity of over 1 billion people by implementing a number of major projects with strong foundation, increased functions and long-term benefits, so as to help cultivate a complete domestic demand system. (Reporter Li Xinping)

　　[News] With the development of the new energy market in recent years, the technology of electric vehicles and plug-in hybrid vehicles has become more and more mature, and with the support and guidance of local policies for new energy, many consumers who did not intend to start new energy vehicles have changed their previous concepts and have the desire to buy new energy vehicles. This time, we took stock of the new energy vehicles that will be launched in the first quarter of 2018 for you, including, 530Le iPerformance,,, pure electric version, pure electric version and e-Golf.

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●　Ei5

New car features: electric cars have also played a travel model.

　　With the change of users’ demand, the market has attracted more and more people’s attention. In many people’s eyes, electric vehicles represent the trend of power system, and naturally they cannot fall behind the times in terms of car models and shapes. Therefore, Roewe will be popular in Europe and America for a long time, but the station wagon that is in the ascendant in China will be "pushed" to Ei5.

　　Roewe Ei5 inherits its family-style design in modeling, especially the inverted trapezoidal grille on the front face is consistent with Roewe ERX5. This large-size inverted trapezoidal grille has become the symbol of Roewe’s new energy. Below the Roewe LOGO on the front face is the DC fast charging port, and the AC slow charging port is set at the tail of the co-pilot.

　　The taillight style of the new car has the feeling of RX5, but the internal structure of the light group has changed obviously. In addition, the position of the brand LOGO has been replaced by the letter "ROEWE", which is also a more obvious detail change compared with the previous Roewe models.

　　There are not many exaggerated changes in the interior layout, and there are not many signs of new energy. The dashboard adopts the style of pointer+LCD screen, which is slightly worse than the full LCD instrument screen of ERX5. The air conditioning operation area is placed in front of the shift lever, and it is still relatively easy to operate. As for the shift mode, Ei5, like ERX5, adopts knob shift, and the front shift lever can adjust the driving mode and power recovery.

　　Because of the problem of battery arrangement, the electric car easily affects the rear seat space or trunk volume, but Ei5 controls it very well in this respect, and the overall trunk volume is not greatly affected by the battery pack, which shows the advantages of the station wagon.

　　In terms of power, it is equipped with a motor with a maximum of 116 horsepower and a set of ternary lithium batteries. It is understood that the maximum endurance of the car under comprehensive working conditions is more than 300 kilometers. The form is the same as that of, and the front type and the rear torsion beam type are adopted.

　　Editor’s comment:In the editor’s opinion, at this time, SAIC Roewe launched Roewe Ei5 travel electric vehicle, which accurately grasped the current automobile market. At present, station wagons and pure electric vehicles are fashionable products, which can make more young consumers pay more attention to it, and Ei5 successfully seized the first batch of travel electric vehicles. As far as the electric vehicle market is concerned, Ei5 has no direct competitors. Therefore, it is believed that there will be many "crock" fans and electric fans who like it when such a product is launched at this time, in which both electric and travel are hot topics. In addition, the Roewe brand zebra intelligent interconnection system is one of the car networking systems that get good market feedback at present. If the system is also installed on Ei5, its product competitiveness will be further strengthened.

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●　The new BMW 530Le iPerformance

New car features:Pure battery life is 61 kilometers, and the curb weight is reduced by 190kg.

　　Whether it is a brand close to the people or a luxury brand around us, the development of new energy vehicles is the top priority in recent years, and the BMW 530Le iPerformance is the first domestic model of the BMW iPerformance sub-brand, and the new car is expected to be listed in January 2018.

　　In appearance, the design style of BMW 530Le iPerformance is not much different from that of the current 5 Series long version, but many new energy logos have been added in details. The air intake grille is decorated in blue, and the iPerformance family LOGO and eDrive LOGO are displayed on the car body. In addition, the new car still adopts the layout of exhaust pipes with two sides, adding its own sporty atmosphere.

　　The changes in the interior are almost negligible, but the configuration has changed. The tachometer on the right side of the instrument panel has been replaced by a power meter, which can display the charging or discharging of the vehicle. At the same time, an electricity meter has been added to the instrument panel, and the central control panel also displays more vehicle-specific information according to the unique attributes of the vehicle. At the same time, all the advanced configurations on the 5 Series and the 530Le models can be optional, which further enhances the sense of luxury in the car.

　　In terms of power, the new car adopts a combination of 2.0T+ motor, with the maximum power of 126 HP, the combined maximum power of the system of 251 HP and 420 Nm, and the transmission system is still 8AT gearbox. And the new car has a pure electric battery life of 61 kilometers, which is an increase compared with the overseas version of 45 kilometers. The official said that the comprehensive fuel consumption of the car is 1.9L/100 kilometers.

　　Editor’s comment:The launch of BMW 530Le iperformance further enriched the medium and large hybrid vehicle market, but it came a little late compared with the plug-in hybrid version, after all, it has already been listed in China. If 530Le wants to gain stronger market competitiveness, it seems very important to control the price by relying on its domestic identity.

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●　Energi

New car features: pure battery life will reach 50 kilometers.

　　After Japanese, Korean and other brands have introduced medium-sized hybrid vehicles to China, facing the huge market of China, American brands are bound to be unwilling to lag behind. At the Guangzhou Auto Show in 2017, Ford Mondeo Energi was officially unveiled. This Ford Mondeo plug-in hybrid model has always received high attention. Recently, it is reported that Ford Mondeo Energi will be officially listed in March 2018.

　　The appearance of the new car is not much different from that of the gasoline version of Mondeo. The charging port on the driver’s fender is the most obvious sign of the new energy identity of the car. The overall design of the front face shape is the same as that of the gasoline version, except that the air intake grille adopts a grid-like design, and the sharp headlights make the whole front face look more fierce. And at the end, that’s what the fuel version looks like.

　　The interior layout is also the same as the fuel version of Mondeo. The biggest change is that the LCD dashboard of the new car displays a series of electric vehicle data according to the identity of its new energy vehicle.

　　In terms of power, the car is equipped with a plug-in hybrid system consisting of a 2.0L naturally aspirated engine (with a maximum power of 146 HP), a motor and a Ni-Co-Mn ion battery pack. Today, the pure electric cruising range of competing models is increasing day by day. It is believed that Changan Ford will also improve the cruising range of this Mondeo Energi, which is pushed to China, in the pure electric driving mode. It was reported that the pure electric cruising range of the new car is expected to increase from 35km in the European version to 50km.

　　Editor’s comment:Ford Mondeo’s fuel version has won high attention since its launch because of its unique appearance. With the rapid development of new energy, Changan Ford also launched the Mondeo plug-in hybrid model, which not only conforms to the initiative of energy conservation and environmental protection, but also enriches its product line and improves its market competitiveness. At the same time, in the context of the dual-point policy, the development of new energy vehicles is also the most basic requirement. According to Changan Ford’s official statement, all models of Changan Ford will provide new energy versions by 2025.

　　Tomorrow, our mobile phone will be screened by Buffett again!

　　At 22:15 Beijing time on May 4th, the annual shareholders’ meeting of Berkshire Hathaway will be held in Omaha, USA. It is estimated that about 30,000 shareholders will attend, and millions of people will watch it online. The most noteworthy issues of this shareholders’ meeting include:

　　Who is Buffett’s successor? — — Bashen is 88 years old and Munger is 95 years old.

　　What about Berkshire’s more than $110 billion in cash? — — Look at the company’s share price of $320,000. Do you still think Maotai is expensive?

　　The repurchase scale will be as high as $100 billion? — — There are not many good companies worth buying, so I have to buy myself.

　　However, for A-share investors, they may be more concerned about this question: What does Buffett think of the China market? Which stocks of A shares meet its stock selection criteria?

　　Which A shares can enter the eyes of the law?

　　There are many criteria for Buffett’s stock selection, but there are clear quantitative criteria. He only said one sentence, that is, the annual return on net assets (ROE) is greater than 20% for 10 consecutive years.

　　The so-called return on equity (ROE) is the ratio of company profits to shareholders’ equity. It represents the investment income of investors, in short, how much money the enterprise can earn for investors.

　　ROE is a measure of a company’s long-term profitability. The higher the ROE, the higher the net profit it earns with the same shareholder capital investment. According to Coca-Cola’s standard, that is, keeping the ROE above 20% for 10 consecutive years, it is the company that Buffett may like.

　　So, which companies in A shares meet Buffett’s standards?

　　Wind data shows that in the 10 years from 2009 to 2019, among the listed companies whose ROE (deduction/dilution) continuously exceeds 20%, there are only five listed companies in A shares, namely Kweichow Moutai, Haitian Weiye, Gree Electric, Yanghe and Chengde Lulu.

　　The average share price increase of these five listed companies in the past 10 years is 690.49%, and the annualized rate of return is 22.97%. The biggest increase is Kweichow Moutai, which rose 12 times in 10 years, followed by Gree Electric, which rose more than 11 times in 10 years.

　　If we relax the ROE standard to 15%, that is, we will keep the ROE above 15% for 10 consecutive years. So, how many companies in A shares meet this standard?

　　Wind data shows that in the 10 years from 2009 to 2019, there were 14 listed companies with ROE (deduction/dilution) exceeding 15% continuously, namely Shuanghui Development, Kweichow Moutai, Haitian Weiye, Hikvision, Gree Electric, Huadong Medicine, Yanghe, Chengde Lulu, Hengrui Pharma, Chongda Technology, dongfeng shares, Fuyao Glass and so on.

　　The average share price increase of these 14 listed companies in the past 10 years is 551.72%, and the annualized rate of return is 20.62%. Among them, Hengrui Pharma, Kweichow Moutai and Gree Electric rose more than 10 times, while Huadong Medicine, Hikvision and Golden Mantis rose more than 5 times.

　　Is Bashen’s strategy unacceptable?

　　In the past 10 years, what is the investment income of Warren Buffett?

　　According to media calculations, if an investor bought a dollar of Berkshire stock 10 years ago, the return today is about $2.4, but if this dollar is invested in the Standard & Poor’s 500 Index Fund, the return today is about $3.2. In other words, in the past 10 years, the income from investing in Berkshire has not been as high as that from investing in the S&P 500 index fund.

　　In 2018, the worst performance of global financial assets in the past 100 years, the "stock god" seems to be unhappy. Suffering from various "thunder" such as Apple’s performance falling short of expectations and Kraft Heinz’s performance changing face, Berkshire lost more than $25 billion in the fourth quarter of 2018, but still earned more than $4 billion in the whole year.

　　But in A-share market, Buffett’s stock picking strategy still seems feasible.

　　In the past decade, 108 A-share stocks have increased more than 5 times, and 29 have increased more than 10 times. The median ROE of these 29 stocks is 14.88%. During this period, the Shanghai Composite Index rose by 24.72%, the Shanghai and Shenzhen 300 Index rose by 50.2%, the CSI 500 Index rose by 74.59%, and the Shenzhen dividend index rose by 132.51%.

　　Obviously, those companies with long-term earning ability and dividend-paying ability can surpass the market if they buy at a reasonable price. However, it should be pointed out that value investment is by no means equal to an ROE index, and the stocks selected according to it are not necessarily suitable investment targets, but only help us find out those good companies more easily.

　　The above data illustrates two problems:

　　First, as Buffett said: "By investing in index funds regularly, an investor who knows nothing can usually beat most professional fund managers." Buffett has recommended index funds for more than ten times.

　　In Buffett’s view, the vast majority of investors rarely invest in index funds, and as a result, their performance in investing in stocks is mostly just mediocre, or even disastrous. There are three main reasons for the loss of investment stocks:

　　1. The cost is too high, investors buy and sell too frequently, or the expenses are too large;

　　2. Investment decisions are made according to gossip or market trends, rather than after careful consideration and quantitative analysis of listed companies;

　　3, blindly chasing up and down, buying or selling at the wrong time.

　　Second, practice has proved that the companies with the strongest earning power in A-shares can bring rich long-term returns to investors.

　　The overall growth level of A-share listed companies is better than the average level of social enterprises. The long-term stock price trend charts of leading enterprises such as Gree Electric, Vanke A, China Merchants Bank, China Ping An and Fuyao Glass are all consistent with the development path of enterprises.

　　The method of value investment has not failed in A-shares. In fact, A-shares will create a good opportunity for value investors to pick up bargains every few years, making it easier for investors to meet good prices. Numerous masters have emphasized that all investment is to find a good industry, a good company and a good price.

　　Finally, Buffett has bought two China stocks so far — — China Petroleum and BYD.

　　In 2003, Buffett bought H shares of China Petroleum at a price of HK$ 1.6, and cleared the position when the share price reached HK$ 13.5 in 2007, with a four-year income of more than 7 times (the reinstatement factor has been considered, the same below). When Buffett bought it, the P/E ratio of China Petroleum was only 5 times, while when China Petroleum was listed on A-share in 2007, the P/E ratio of 48 yuan’s opening price was as high as 63 times.

　　In 2008, Buffett subscribed for 225 million shares of BYD at a price of about HK$ 8 per share. At present, Buffett still holds shares in BYD, and its latest share price is HK$ 53.55, and its income has exceeded five times. When Buffett bought BYD shares, the corresponding P/E ratio was only 10.2 times. At present, its latest P/E ratio is 39.29 times.

　　China securities journal Song Zhaoqing

　　Zhongxin Finance, April 29 th On the 29 th, the Ministry of Industry and Information Technology released the operation of the Internet and related service industries in the first quarter of 2022. In the first quarter, the scale of Internet business continued to expand, operating costs decreased slightly, and research and development expenses accelerated. The operation of sub-sectors is in a differentiated trend, with enterprises mainly providing information services and online sales services growing steadily and rapidly, while the revenue growth rate of platform enterprises providing life services has dropped.

　　I. Overall operation

　　The scale of Internet business revenue has continued to expand.In the first quarter, China’s Internet and related service enterprises above designated size (hereinafter referred to as Internet enterprises) completed Internet business income of 323.6 billion yuan, a year-on-year increase of 1.4%.

　　The growth rate of operating costs has dropped.In the first quarter, the operating costs of Internet enterprises above designated size in China increased by 4.4% year-on-year, with a growth rate of 1-mdash; It dropped by 3.8 percentage points in February. The total profit was 15.45 billion yuan, down 10.3% year-on-year, a decrease of 1-mdash; It deepened by 2.9 percentage points in February.

　　R&D expenditure accelerated.In the first quarter, China’s Internet enterprises above designated size invested a total of 17.75 billion yuan in R&D, up 8.4% year-on-year, with a growth rate of 1-mdash; In February, it increased by 11.2 percentage points.

　　Second, the sub-field operation

　　(1) Enterprises in the field of information services are growing steadily, and enterprises in the field of audio-visual services are growing prominently.In the first quarter, the revenue of Internet business of information service-oriented enterprises (including news information, search, social networking, games, music videos, etc.) increased by 7.1% year-on-year, which was 5.7 percentage points higher than the growth rate of the whole industry. Among them, enterprises in the field of audio and video services have developed rapidly; Enterprises in the field of search services maintain rapid growth; Corporate business in the field of social services has achieved rapid development; The business income of enterprises in the field of online games has cooled significantly.

　　(2) The income growth rate of enterprises in the field of life services has slowed down, and the business of service platform enterprises such as travel has shrunk significantly.In the first quarter, due to the domestic epidemic in March, the internet business income of platform enterprises (including local life, car rental, travel, financial services, automobiles, houses, etc.) which mainly provide life services decreased by 17.4% year-on-year. Among them, the income of enterprises that provide car rental and car rental services continues to shrink; The income growth rate of enterprises providing tourism travel services has dropped sharply.

　　(3) The income of enterprises in the field of online sales grew rapidly, and the comprehensive e-commerce enterprises played an obvious role.In the first quarter, the Internet business income of enterprises mainly providing online sales services (including bulk commodities, agricultural and sideline products, integrated e-commerce, medical supplies, express delivery, etc.) increased by 8.5% year-on-year, which was 7.1 percentage points higher than the growth rate of the whole industry. Among them, the business income of integrated e-commerce enterprises increased rapidly; The business income of enterprises that provide commodity sales services has fallen sharply.

　　Third, the operation by region

　　Internet business income shows regional differentiation.In the first quarter, the income from Internet business in the eastern region was 295.9 billion yuan, up 2.3% year-on-year, 0.9 percentage points higher than the national growth rate, accounting for 91.4% of the national Internet business income. The income from Internet business in the western region was 16.16 billion yuan, up 2.1% year-on-year, 0.7 percentage points higher than the national growth rate. The income from Internet business in the central region was 10.37 billion yuan, down 17% year-on-year. The revenue from Internet business in Northeast China was 1.16 billion yuan, down 7.7% year-on-year.

　　There are obvious differences in the development of major provinces.In the first quarter, Beijing (up by 9.3%), Guangdong (up by 0.2%), Shanghai (up by 6.8%), Zhejiang (up by 2.6%) and Tianjin (down by 27.2%), the top five Internet businesses, achieved business income of 277.9 billion yuan, up by 2.8% year-on-year, accounting for 85.9% of the national total. There are 19 provinces and cities in China where the growth rate of Internet business income has achieved positive growth, among which the growth rate of Hubei, Guizhou and Tibet has exceeded 50%, while the decline rate of Hainan and Yunnan has exceeded 40%.

　　Fourth, the development of China’s mobile application (APP)

　　The total number of mobile applications (apps) decreased slightly.By the end of March, the number of apps monitored in China’s domestic market was 2.3 million, with a net decrease of 50,000 in March. Among them, there are 990,000 APPs in local third-party app stores and 1.31 million apps in Apple Store (China). In March, there were 70,000 new apps on the shelves and 120,000 apps off the shelves.

　　The scale of game applications remains ahead.By the end of March, the number of apps in the top four categories of mobile applications accounted for 63.1%, and other 10 categories of apps such as social communication, office learning and theme wallpaper accounted for 36.9%. Among them, the number of game apps is leading, reaching 688,000, accounting for 29.9% of all apps. The number of daily tools, e-commerce and life service apps reached 343,000, 227,000 and 195,000 respectively, ranking second, third and fourth in the scale of mobile applications.

　　Games, daily tools, audio and video playback, and social communication applications are among the top downloads.By the end of March, the total distribution of on-shelf applications in China’s third-party application stores reached 2,069.6 billion times. Among them, the number of downloads of game mobile applications ranked first, with a download volume of 326.1 billion times; Downloads of daily tools, audio and video playback and social communication ranked second to fourth, reaching 270.9 billion, 2491 and 242.4 billion respectively. Among other types of applications, applications that have been downloaded more than 100 billion times include life service (193.3 billion times), information reading (157.1 billion times), system tools (156.9 billion times) and e-commerce (138.4 billion times).

　　The number of mobile application developers in China exceeds one million.By the end of March, the number of mobile application developers monitored in China’s domestic market was 1.015 million, including 289,000 enterprise developers and 725,000 team (individual) developers. The number of game mobile application developers ranks first, reaching 245,000; The number of mobile application developers in daily tools, social communication and life services ranks second to fourth, reaching 213,000, 128,000 and 94,000 respectively.

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The design of Mercedes-Benz EQE is very futuristic. It adopts Mercedes-Benz family-style front face design and a closed air intake grille, which makes the whole front look very simple and full of technology. The body lines are smooth, and the side waistline extends from the front door to the rear of the car, creating a dynamic visual effect. In addition, EQE’s rear design is also simple and exquisite, and the taillights are designed through, which further enhances the recognition and modernity of the whole vehicle. On the whole, Mercedes-Benz EQE fully demonstrates the design concept and technical strength of Mercedes-Benz brand in the era of electrification with its unique design style and smooth lines.

Mercedes-Benz EQE has a body size of 4969*1906*1514mm, a wheelbase of 3120mm, smooth side lines and 19-inch rims, and a tyre size of 235/50 R19, providing stable grip and elegant appearance for the vehicle.

The interior design of Mercedes-Benz EQE is dominated by luxury and sense of technology, and adopts leather-like seats, which provide front and rear adjustment of the driver’s seat, backrest adjustment, height adjustment (4-way), leg rest adjustment and lumbar support (4-way), and has heating and ventilation functions. The steering wheel is made of leather, which supports electric up and down+front and rear adjustment, which is convenient for the driver to adjust to the best driving posture. The 12.8-inch central control screen integrates the control functions of multimedia system, navigation, telephone, air conditioner and skylight, and with the voice recognition control system, the driver can operate the vehicle more easily. In addition, the car is equipped with three Type-C interfaces in the front row and two Type-C interfaces in the back row, which supports the wireless charging function of mobile phones and meets the needs of passengers using electronic equipment in the car.

Mercedes-Benz EQE is equipped with an efficient motor with a maximum power of 215 kW and a maximum torque of 556 Nm, providing drivers with strong power output and excellent driving experience.

As mentioned in the evaluation, EQE’s appearance is novel and he is very satisfied. He thinks that this design will not be out of date for at least the next five years. Although some people think that EQE’s appearance is too round, @Dashiell thinks that this is more due to personal aesthetic differences.

1905 movie network news Directed by Andre Brock and Christian Haas, written by Gregory Balanes and Andre Brock, and voiced by Kate Winslet, an animated film has recently exposed a set of character photos, which has set off a big wave of "budding tide" on the whole network. It is reported that the film has received 180,000 praises on facebook, and the exposure of this role photo has also made China netizens instantly circle the powder. Together with the voice of the former "Ruth" Kate Winslet, I believe it will bring different audio-visual enjoyment to the audience.

The protagonist "natural to stay" sells Meng and steals the mirror.

Manou the Swift is a typical adventure animated film, which tells the story of a little Swift who has always regarded himself as a seagull. In the process of growing up, it finds that it can’t fly like a seagull. After being shocked, it runs away from home and starts an adventure. In this adventure, it experienced various setbacks, but it also unexpectedly realized its true identity. Then it was forced to face a great disaster of Swift and Seagull family. Where should Little Swift go … …

Xiao Swift in the film is the spokesperson of "brave and strong", which not only portrays the witty and brave side properly, but also creates a warm and touching atmosphere of family. From the role photos released this time, we can see that Manou the Swift’s role image is more eye-catching. The three protagonists show the attributes of "natural to stay" at the same time, which makes people’s hearts sprout. Especially, those invincible electric eyes are very stealthy, and the full sense of "online celebrity" animation refreshes the audience’s eyes and unconsciously attracts a large number of "mom fans". Many fans said that "the big eyes are so cute, and they are circled in an instant" and "which one is the small swift, I really want to see it"!

"Ruth" speaks for the seagulls.

In addition, it is worth mentioning in the film that the strength of Kate Winslet, the heroine who once swept the world, will bring unexpected surprises to the audience. It is understood that the winner of Kate Winslet Oscar, Golden Globe Award and Emmy Award for Best Actress once dubbed "Rushing into the Distance" for Aardman animation, and the dubbing lineup that joined Manou the Swift this time has voiced these seagulls, which is a great attraction. I believe that the sound collision between the superb acting "Ruth" and the seagulls will definitely spark a wonderful spark.

At present, the film is expected to be jointly introduced by TURBO FILM and Mango Entertainment.

Xinhua News Agency, Nanchang, March 29th Title: Looking at the abundant crops in the rape blossoms —— Observation on expanding planting and increasing income in some major rape producing areas in China.

Xinhua News Agency reporters Chen Chunyuan and Zhou Mian

Not only focus on rice, but also rotate rape; In late March, the reporter saw in Hunan and Jiangxi, the main rapeseed producing areas in China, that local governments, large rapeseed growers and processing enterprises made great efforts to increase production, improve quality and increase oil, and increased efficiency and income through the "rapeseed+"model to jointly protect national grain and oil security.

Guaranteed yield

Everywhere is golden, and the fragrance overflows. In late March, in the rape field of Nanchang Wisdom Datian Agricultural Science and Technology Development Co., Ltd., Jiangxi Province, employees were driving excavators to clear ditches and drain water. "Prevent waterlogging and reduce the occurrence of Sclerotinia sclerotiorum." Xiao Jiren, deputy general manager of the company, said that nearly 1,000 mu of rapeseed has entered the stage of flower and pod setting. Last year, the rice harvest was late, and rapeseed missed the best sowing date. The low temperature and rainy weather at the beginning of the year affected the normal growth of rapeseed. "But there are still more than 500 acres of rapeseed growing well. We must keep this hard-won achievement!"

This year, the No.1 Document of the Central Committee proposed to vigorously implement the soybean and oilseed production capacity improvement project. Developing winter fallow fields and expanding rapeseed in the Yangtze River basin. In recent years, Jiangxi insists on taking "big grain and oil producers" as the main body, making good use of policy project funds, vigorously popularizing the models of "one-season rice+ratooning rice+rape" and "double-season rice+rape", and constantly expanding rape production. It is estimated that the area of rape harvested in summer in 2022 will reach 8 million mu, which is expected to reach a new high in the past seven years.

Expand the sowing surface and ensure the yield. The sown area and yield of rape in Hunan rank among the top in the country all the year round. Tang Jianchu, deputy director of the Hunan Provincial Department of Agriculture and Rural Affairs, said that there are about 25 million mu of cultivated land suitable for developing rape production in Hunan, and there is still about 5 million mu of room for expansion compared with the existing 20 million mu of rape. In 2021, the rape yield in Hunan reached a record high. As long as the key technical measures are put in place, the yield per unit area can be increased by more than 20 kilograms in a short time.

If you want to produce more, you must plant well. Jiangxi takes improving quality and increasing oil as an important starting point, implements high-efficiency cultivation techniques such as rape joint sowing and slow-release fertilizer, and promotes the green, high-quality and high-efficiency technology of rape "445" suitable for this region, driving the proportion of high-quality rape planting in the province to reach 95%. Hunan is also vigorously promoting key technologies such as reasonable close planting and comprehensive control of Sclerotinia sclerotiorum, and radiation has driven balanced production increase in surrounding areas. In the past three years, the coverage rate of high-quality rapeseed varieties with low erucic acid and low glucosinolate in Hunan has reached 98.3%.

Increase income

Not only to expand the planting area, but also to increase production and income, farmers in Jiangxi and Hunan have started the "rape+"model. Chen Zhengping, a large rapeseed grower in Hunan, said that he planted 680 mu of rapeseed by rotation, including 480 mu of "rice oil" and 200 mu of "rice oil". First, collect the oil-flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese cabbage. More than 300 kilograms of rapeseed will be harvested after the oil flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese flowering Chinese.

In Shangwan Village, Yingqian Town, Shangyou County, Jiangxi Province, 100 acres of rape blossoms have attracted many tourists. Huang Fuxi, secretary of the Party branch of the village, said with delight that with flowers as the medium, Shangwan Village has become a punching place in online celebrity. Villagers set up stalls at their doorsteps to sell Hakka food, open "farmhouse music" to develop rural tourism, and plant rape to cultivate green manure to improve the soil.

Tam Village, Wuzui Township, Nanxian County, Hunan Province, planted 1,800 mu of rape as early as 2015, and created graffiti on the wall of each villager’s house to create "Tam Huahai Graffiti Art Village". In order to pursue differentiation and specialization, Tam Village planted another 150 mu of "colorful rape flowers" last year to attract tourists in the form of "3D artistic landscaping".

Since 2018, Hunan has held several rape flower festivals. According to preliminary statistics, in 2021, driven by the provincial rape flower festival, 38 counties in the province held rape flower festivals, attracting 5.87 million tourists and achieving a comprehensive tourism income of 2.14 billion yuan.

Walking into a rapeseed processing enterprise in Jiangxi, the reporter saw the roar of automatic machinery and equipment, the smell of oil in the factory, the extraction, grinding, granulation and filling … The production line was running intelligently. As a leading rapeseed deep processing enterprise in Jiangxi, this company has developed a series of products with strong aroma and pure rapeseed oil according to the needs of different groups.

Ye Qiu, chairman of an xiang Green Leaf Agricultural Machinery Service Professional Cooperative, said that he has planted more than 10,000 mu of rape, and achieved good comprehensive benefits by selling oil-flowering stems, pressing oil and keeping bees.

Look forward to support

In Zhongqie Village, Nanjing Town, quannan county City, Jiangxi Province, Tan Liming, a big rapeseed planter, is about to harvest more than 200 mu of full rapeseed. He has both joy, worry and hope. I am glad to get the seeds provided by the government free of charge and the subsidy of 300 yuan per mu; The worry is that the planting area is large, and once you encounter pests and diseases, your harvest will be ruined. He is looking forward to more guidance from agricultural experts in the field, business training, and the formation of a local team of "agricultural doctors" to help farmers grow a good harvest.

"Because of the stubble problem of rice tankers in the south, a lot of rapeseed planted by the company last year can only be used for viewing rape flowers, and it will be returned to the field as green manure after rotary tillage and retting in early April." Xiao Jiren said that if mechanization is adopted in the whole process and "rice seedlings and other fields" are realized in every link, the planting mode of "rice, rice and oil" or "rice and oil" can be realized, and I hope the state will further support the whole process of agricultural mechanization.

Chen Youfa, a villager from Liufang Village, Shandang Town, Le ‘an County, Jiangxi Province, told reporters that he used his own agricultural machinery to plow the land, but due to the rising cost of fuel, agricultural materials and labor, the input cost of one mu of rapeseed was higher than that of 300 yuan. Ye Qiu also admitted that the current cost for farmers to grow rape is still too high. I hope the state will further curb the excessive rise in agricultural prices and increase subsidies for large growers.

"Most of the 1,370 mu of rapeseed in the village is concentrated and contiguous, and the village collective unified ploughing and sowing, and the villagers claimed planting, which improved the enthusiasm of farmers." Huang Xingzong, a villager from Tongjiang Village, Shandang Town, Le ‘an County, Jiangxi Province, claimed 49 mu of rape field this year. He said that in order to promote rape planting, in October last year, the village collectively invested in three rape combine seeders, which cost more than 50,000 yuan in addition to the national agricultural machinery subsidy. If the local government can provide more rape planting services and realize large-scale contiguous planting, large households will still be happy to use their winter leisure time to grow rape.