Text/Tanma Blue Flag

From Handan East Station, go west along Hanwu Expressway, and you can reach Wu ‘an City in an hour’s drive. After crossing the Wu ‘an boundary, the castle peak is faint, and there are chimneys of all sizes in the light gray background in the distance.

Wu ‘an, dotted by the Taihang Remnant Vein, has been a major smelting town in China since ancient times. Its history of mining and smelting iron began in the Warring States and flourished in the Western Han Dynasty, and lasted for more than 2,000 years. Wu ‘an, which made its fortune from underground resources, was known as the local "Little Beijing" decades ago. With the strong attraction of steel and other industries, a large number of foreigners flocked to Wu ‘an, and the scenery was the same for a while.

However, the county-level characteristic economy dominated by steel not only brings a halo to Wu ‘an, but also brings troubles of environmental pollution to Wu ‘an. High pollution was another image of Wu ‘an, and seeking economic transformation has become a top priority for Wu ‘an.

In April 2012, Wu ‘an Yinlong New Energy Industrial Park was established. This factory covers an area of 2,600 mu with a total investment of 30 billion yuan. There are Hebei Yinlong Xinyuan Co., Ltd., North Aoti Nanotechnology Co., Ltd. and Zhuhai Guangtong Automobile Company Handan Branch, which can provide tens of thousands of jobs. As a gift from Wei Yincang, the founder of Yinlong New Energy, to his hometown, the annual output value of the industrial park can reach 120 billion yuan after it is fully put into operation, which is equivalent to rebuilding Wu ‘an.

It’s been 30 years since Wu ‘an was founded in the county, and now the local ruffians have all gone, the steel mills have cut production, the coal mines have been closed, and the most promising new energy sources are not working.

The taxi driver’s master chatted with Hunting Cloud Network about Wu ‘an’s past, and when it comes to new energy, his expression suddenly faded. Wu ‘an Yinlong New Energy Industrial Park, a factory with all the hopes of Wu ‘an sprinting for a new economy, and Yinlong, led by Dong Mingzhu, are currently mired in the whirlpool of public opinion about the suspension of production.

On June 1, 2018, during a field visit to Wu ‘an Yinlong New Energy Industrial Park, Hunting Cloud found that the seriousness of Yinlong’s production suspension was beyond imagination, and its influence was far beyond its own scope. The changes that have taken place in a startup enterprise are, to some extent, the projection of the whole industry’s rapid progress.

The bus inventory is shocking, and it has been dusty for too long.

There are lithium titanate material factory, lithium ion battery factory, energy storage system assembly factory and new energy pure electric vehicle assembly factory in Yinlong Industrial Park in Wu ‘an, forming a new energy industry chain that supports each other in business.

Now, this chain is undergoing a chain reaction of deterioration. Due to the sluggish business in Wu ‘an Guangtong Automobile Factory, there were no sales orders, resulting in a large number of vehicles in stock. The suspension of production in the vehicle workshop directly led to the shutdown of Yinlong battery production workshop, which led to a large number of employees leaving.

Zhao Jia, who is waiting for the bus, told Hunting Cloud that she has been working in Yinlong Battery Factory for more than three years. About six months ago, orders in the factory began to decrease, and there was not much work.

"When there was an order before, it took 12 hours and took 12 hours off; Now there is less work, 12 hours, 24 hours off, and three shifts. "Zhao Jia said frankly," I used to be tired, and I earned more than 4,000 yuan a month. I came out just to earn money. It’s nothing to work overtime. Now I earn much less, and the salary can be more than 2,000. It’s ok for female employees to earn so much, but it’s not justified for men to earn so little. Many colleagues quit because they think the salary is low and they can’t afford it financially ….. "

According to Zhao Jia, as the largest battery factory in Yinlong, the lithium titanate batteries produced here are used by the opposite side (Hunting Cloud Network Note: Hebei Guangtong Automobile Factory) and the Zhuhai Headquarters. Due to the reduction of orders for electric buses, there is no work in the battery factory.

Another employee revealed that only the No.3 workshop is now producing normally, and all other workshops have stopped. Employees have holidays and can only be arranged to go to work on notice.

　

"Why not report it to the relevant departments?"

"The relevant department replied that the insurance has been communicating with Yinlong."

"I’m doing business next to Yinlong Factory. Yinlong came over when it built the factory. It’s been five years since I built this house in my own land," Wu Dabo told Hunting Cloud Network. "At first, I cooked seedlings and sold other things at the same time. I didn’t cook, but there were more workers and more people eating, so I changed it into a small restaurant."

When talking about the business situation, Wu Dabo shook his head: "When the business was good, more than 100 people came to eat in the morning, but now it’s no good. Only a few people eat barbecue and drink here at night."

Informed sources told Hunting Cloud that they were all on holiday, and the factory didn’t pay the employees for three or four months (Hunting Cloud Network Note: no salary), and some employees left their jobs without paying the expenses (Hunting Cloud Network Note: salary). Yinlong vehicle workshop plus battery factory, originally more than 9000 people, now only more than 1000 people have left.

This person also revealed that according to the agreement signed by Yinlong and relevant partners, Yinlong can get a three-year financial subsidy (Hunting Cloud Network Note: this subsidy does not refer to the national financial subsidy for new energy vehicles), and now it has been replenished for three years, and no subsidies will be made. The insider said that because the car made by Yinlong was "unqualified" (note: short cruising range here), if it could not be sold, there would be no order.

One of the manifestations of the decrease in bus orders is the increase in bus inventory. In Yinlong Guangtong Automobile Factory, a large number of buses are accumulated in the open space around the factory because they cannot be sold externally. These unsold buses are mainly in three colors: green, blue and pure white. There are about 500 vehicles at the rear and right side of the factory.

These 3355 buses are allocated to each park that has been put into production, and there are not many vehicles produced in each park. Therefore, the inventory of 500 buses in Wu ‘an Yinlong Industrial Park is shocking, and the inventory pressure in Wu ‘an factory area can be imagined.

Seeing the amazing inventory of Guangtong Automobile, it is not difficult to understand that Yinlong Battery Factory took the initiative to stop production. It can be judged that those dusty buses have been parked on the site for some time. They are either unsold vehicles with problems or normal unsold vehicles, and either one is Yinlong’s trouble.

The pure white bus is the latest production, and it can be seen that drivers drive it in and out from time to time and drive on the ring road of the factory. Yinlong employees told Hunting Cloud that this was a new car road test.

For the large-scale shutdown of Wu ‘an Yinlong factory, some people choose to leave, while others choose to stick to it, no matter what kind of choice they make, it is for their lives.

Employees have mixed feelings: some choose to leave, while others choose to stay.

In Wu ‘an, when you ask how to get to Yinlong Factory, people in their seventies can skillfully show you the nearest way. In Wu ‘an, it is not too much to say that Yinlong is a household name.

Walk from Wu ‘an Town, cross the high archway of Xichangyuan Village, turn two corners in the village, and walk not far to the back door of Yinlong New Energy Industrial Park. Most people in the neighborhood work in Yinlong. At around 8:30 in the morning, employees in Yinlong green overalls can be seen riding electric cars through the village.

As to why he chose to stay, Zhao Jia told Hunting Cloud Network that Wu ‘an is strict about environmental protection, steel mills are reducing production, and Yinlong’s environment is much better than that of steel mills, with buses commuting and dormitories to live in, which provides great convenience for employees.

"It would be better if the benefit of the factory is good. After all, the environment here is better, the work is not too tiring, and the steel plant is too dirty, so we women workers are reluctant to go," Zhao Jia explained.

In Yinlong Industrial Park, there are all kinds of living facilities, such as staff dormitory, dining hall and staff activity places. The environment in the park and workshop is much better than that in local steel mills, cement plants and chemical plants in Bi ‘an, so Yinlong Factory is still a good choice, even the only choice, for local employees in Wu ‘an. It is not difficult to understand why some people are still unwilling to leave their jobs after being owed wages for several months.

In addition, some employees revealed that Yinlong mainly left the front-line production staff, that is, "those who made batteries", while there were more than 30 people in the quality control department, and fewer employees left.

For the employees who left, some people are full of resentment against Yinlong; For those who stay, some people try their best to maintain the positive image of Yinlong, thinking that dismissing employees is the company’s downsizing and increasing efficiency; There are also on-the-job employees who reveal their true thoughts and hope that the media can make some objective reports, which are neither partial nor exaggerated, so as to urge Yinlong to pay attention to the interests of employees.

Of course, more local people hope that Yinlong can recover, which is not only out of the selfishness of finding a job and supporting the family, but also the expectation of Wu ‘an’s economic transformation as a member.

Wei Yincang’s "Black Hole" Superimposes Dong Mingzhu’s "Great Leap Forward"

Wei Yincang, a native of Wu ‘an, Handan, won the first bucket of gold in his early years in Wu ‘an.

In 2008, Wei Yincang founded Yinlong New Energy Co., Ltd. in Zhuhai and entered the field of new energy; In 2010, Zhuhai Yinlong spent 57.5 million US dollars (about 400 million RMB) to acquire 53.3% of the shares of American Aoti, and Yinlong mastered the production technology of lithium titanate battery; Since the implementation of industrialization investment in 2009, Yinlong has carried out a comprehensive layout around lithium titanate core materials, batteries, motor control, charging equipment, energy storage and pure electric vehicles.

In 2016, after Dong Mingzhu, who regarded Yinlong as a dark horse, failed to acquire Yinlong in Gree Electric, he joined hands with Dalian Wanda Group headed by Wang Jianlin, Suqian Hanbang Investment Management Co., Ltd. under Liu Qiangdong, CIMC Group and Beijing Yanzhao huijin international Investment Co., Ltd., a mysterious shareholder, to jointly increase the capital of Zhuhai Yinlong by 3 billion yuan. Since then, Dong Mingzhu entered Yinlong, and the iron lady’s tough work style began to permeate every corner of Yinlong.

Later, everyone is familiar with the story. Yinlong’s management was reshuffled, founder Wei Yincang left the post of chairman, and Gree executives entered the core management.

The shutdown of Wu ‘an Yinlong New Energy Industrial Park is not an isolated case, and other industrial parks invested by Yinlong all over the country are also facing similar difficulties.

In 2017, Dong Mingzhu signed a project cooperation agreement with Luoyang on behalf of Yinlong New Energy and Gree Electric, including Yinlong’s investment of 15 billion yuan to build a new energy industrial park in Luoyang High-tech Zone. Now, half a year later, Luoyang Industrial Park is still a "wilderness".

The situation of Yinlong Chengdu Industrial Park is also not good. The automobile factory is in a semi-stop state because there is no order, and the second phase of the project, namely the lithium titanate battery project, is suspected to be in a state of stagnation.

As a key park of Yinlong in North China, Shijiazhuang Park was once one of the three production bases of Yinlong, and now some workshops are also in a state of suspension.

Yinlong has always been a "dark horse" among new energy automobile enterprises. From the acquisition of Aoti Nano to Dong Mingzhu’s shareholding with a number of star entrepreneurs, Yinlong’s aura is incomparable to ordinary enterprises. The root cause of Yinlong’s large-scale shutdown is not from a single factor — — It is not only related to the things in Yinlong gene, but also to the violent changes of Yinlong in recent years and the Great Leap Forward.

After Dong Mingzhu became a shareholder in Yinlong, a large-scale industrial park was built in order to "scramble for land" before the new energy policy was tightened. At present, Yinlong has at least 11 industrial parks in China. After Dong Mingzhu became a shareholder in Yinlong, the total investment of new energy industrial park projects signed by Yinlong reached at least 80 billion yuan.

So, where does the money for investing in industrial parks come from? Borrow.

In May 2017, CITIC Bank granted a credit of 27.6 billion yuan to Zhuhai Yinlong Group, which can be used for pledge financing of subsidies for new energy vehicles, and provided construction loans totaling 8 billion yuan to Chengdu Yinlong and Tianjin Yinlong bases. In addition to CITIC Bank, many banks such as China Construction Bank and Ping An Bank also provided financial support to Yinlong.

Dong Mingzhu’s "Great Leap Forward" only had a strategic position, and did not consider too many consequences. As of December 31, 2017, Yinlong’s total assets were 31.512 billion yuan, while its total liabilities reached 23.767 billion yuan.

Dong Mingzhu governed Yinlong in his own way. After "taking the pulse" for Yinlong, she said rudely that from a cultural perspective, Yinlong lacks corporate culture and craftsmanship, and it must be completely subverted; From the business model, Dong Mingzhu’s "dagger" stabbed Yinlong directly — — Yinlong used to rely on bank financing to survive. As a manufacturing enterprise, it should rely on the market to solve problems.

Careful people will find that since Dong Mingzhu dominated Yinlong, Yinlong official website has made great adjustments, and the "four-way win-win" model of bus companies, new energy vehicle companies, local governments and financial institutions that Yinlong had vigorously promoted before has disappeared.

According to Yinlong’s business model of "zero-price car supply, 10-year lease, 10-year warranty, vehicle replacement and win-win for all parties", bus companies only need to do a good job in operation scheduling and management, and vehicle manufacturers are responsible for the 10-year warranty of the vehicle "three electricity" system. The bus pays the rent by means of financial lease, with zero down payment and the car payment by ten-year installments.

This model can alleviate the one-time payment pressure of local finance and increase orders for Yinlong, but it is difficult for Yinlong to obtain sufficient funds from the sales of buses to support the further development of the enterprise. It can be inferred that Dong Mingzhu has denied this model.

While Dong Mingzhu emphasized "relying on the market to solve problems", Yinlong has obviously not done it.

Yinlong’s main lithium titanate battery product has many advantages: it can be quickly charged and discharged in 6 minutes, can withstand wide temperature (-50℃~+60℃), has a 30-year cycle life, has high safety without fire and explosion, and has low life cycle cost.

However, the disadvantage of lithium titanate battery is also obvious: its cruising range is short, which is not attractive to consumers who are full of mileage anxiety at present, and its products are mostly used in the bus market. After all, the growth of the city’s bus market is limited, and it will face bottlenecks to a certain extent. Now the suspension of production in Wu ‘an Yinlong factory is directly related to this.

The operating data of Yinlong in recent years is not ideal. According to Gree’s previous announcement, Yinlong’s operating income in 2016 was 7.898 billion yuan and its net profit was 836 million yuan. It is worth mentioning that the amount of state subsidies declared by Yinlong in 2016 alone was as high as 2.135 billion yuan. In 2017, Zhuhai Yinlong’s operating income was 8.752 billion yuan, its net profit was 268 million yuan, and its net profit decreased by 67.94%.

In response to the current shutdown event, the relevant person in charge of Yinlong said that Wei Yincang, the founder of Yinlong, left some black holes. At present, Yinlong has carried out internal rectification around product quality, supply chain management and manufacturing. Due to the great changes in Yinlong’s senior management team and the implementation of new management concepts and standards, the supplier system has been reshuffled, and some suppliers have failed to get payment due to quality problems. According to incomplete statistics, the overdue payment of Yinlong is at least 1.2 billion yuan.

Therefore, the present predicament of Yinlong is caused by the superposition of Dong Mingzhu’s "Great Leap Forward" expansion and the "black hole" left by Wei Yincang, not by a single factor. It is worth mentioning that the operating difficulties faced by Yinlong have affected its IPO process.

Only eight months after China Merchants Securities entered the counseling, the listing of Zhuhai Yinlong came to an abrupt end.

Regarding the latest progress in the internal rectification of Yinlong, Hunting Cloud Network tried to interview the relevant person in charge of Yinlong, but the other party did not respond.

The future is uncertain and there is not much time left for Yinlong.

The measures taken by Yinlong can be seen from the employees.

In the face of the shutdown of the Wu ‘an factory, at the beginning, Yinlong adopted the practice of sending some of its employees to Gree for digestion. To this end, Gree also specially held a "double election meeting" for Yinlong employees, and trained these employees of Yinlong. Some employees are quite satisfied with this.

Yinlong under Dong Mingzhu is now facing a complicated situation.

It is rumored that Yinlong will shift from bus products to passenger car products, which means that a number of new production lines and teams need to be established as soon as possible, and passenger cars need to be developed. Is there room for Yinlong in the already crowded electric passenger car market?

In addition, if developing passenger cars, Yinlong’s lithium titanate battery is absolutely impossible. Yinlong needs to find new battery technology or purchase battery products produced by other enterprises. If Yinlong wants to develop ternary batteries by itself, unless it has a long-term technical reserve, time and market will not allow it.

Or, it is also a good choice to merge with other potential battery companies and save the country by curve. The problem lies in whether there is a good target and whether Yinlong has enough financial support.

For new energy automobile enterprises, these three years are extremely crucial at present, and the rapid decline of subsidy policy will make the whole vehicle and parts enterprises reshuffle.

There is another test. Will the shareholders who have been investing money and can’t harvest continue to support Dong Mingzhu and Yinlong?

There’s really not much time left for Yinlong.

Author | Talk Jun

A word "yyds" can replace all praise, and a word "Juejuezi" can cover all feelings. We are losing the ability of complex expression and the desire to think deeply …

Hello, I’m talk Jun.

"Do you know what’ YYDS’ means?"

"Is the eternal god, who doesn’t know now? How convenient it is to use yyds for everything! "

When our discourse system is simplified to a few abbreviations and network stalks, we lose not only the richness of language, but also the depth and breadth of thinking.

Language is simplified, and thinking is also simplified.

If you carefully observe the current network communication, you will find that simple expressions such as "yyds" (eternal god), "xswl" (laughing me to death) and "Juejuezi" are replacing rich Chinese vocabulary.

A word "yyds" can replace all these words: wonderful, excellent, outstanding and shocking.

This simplification trend is not only reflected in the language, but also penetrated into the thinking mode.

When we use "Juejuezi" to sum up all our feelings, we no longer need to think about "where is this thing good", "why is it good" and "what feelings it brings to me".

The thinking process is compressed into a conditioned reflex.

The popularity of this expression is essentially a manifestation of "inertia of thinking". Young people are increasingly reluctant to engage in complex thinking that requires cognitive resources, and prefer simple, direct and unexplained communication.

Abstract Culture: Gentle Psychic Anesthetic

Abstract culture originated from the network subculture. At first, it was a gentle rebellion of young people against the mainstream cultural order, and the discipline was deconstructed by joking.

But now, it has evolved into a widespread cultural phenomenon.

In 2024, "abstraction" became a buzzword for young people to socialize online. They show the so-called "real and vivid self" through relaxed and funny content and unique and even "wonderful" interpretation perspective.

Different from the traditional criticism of "entertainment to death", some people think that abstract culture provides young people with an "outlet of spiritual resistance" to help them overcome routine, seriousness and even difficulties in life with self-mockery and unexpected humor.

But this "resistance" is actually a kind of abandonment. When we respond to everything with "hahaha" and "laughing to death", we are actually avoiding deep thinking about the nature of things.

Circle illusion: we are all "one of our own"

The most ingenious thing about abstract culture is that it creates an illusion of circle identity.

When you know how to use those network stems and specific expressions, you seem to have joined a secret club. Only those who know these stems can feel the happiness of being understood in the same circle. It becomes a circle identification mechanism.

Those who don’t understand these stalks are naturally excluded from the dialogue.

This layered communication creates the so-called "social code", which breaks the apathy of interpersonal relationship with symbolic interaction and promotes in-depth communication.

But this "deep communication" is actually extremely superficial. When we all use the same words and expressions, we are just repeating mechanically, and we don’t really share our unique thoughts and feelings.

Arithmetic cocoon house

Algorithm of how to kill thinking ability by traffic supremacy

The popularity of this abstract culture is not accidental, but the result of collusion with the content ecology of traffic supremacy.

Algorithm recommendation technology has been deeply integrated into various fields and scenarios. It accurately provides various services by capturing users’ daily usage data and analyzing users’ behaviors, habits and preferences.

But this technology is a "double-edged sword". The algorithm recommends that users’ preferences should be the guide, and a large number of similar content should be pushed continuously, which isolates users in a closed information space and hinders the flow of diverse information.

At the same time, the time spent reading books, newspapers and other traditional books has been greatly reduced, which directly leads to insufficient knowledge reserves and difficulty in expanding vocabulary.

When they need to express complex views and emotions, they often find themselves lacking the ability to organize and have in-depth language.

Network language is concise, vivid and interesting, and expression packs are widely used in social activities. However, long-term dependence on these expression tools will make young people’s communication single and modular, and weaken their ability to accurately express their thoughts and feelings in standardized language.

What are we losing?

When we are immersed in this simple and exciting content, we are losing some valuable abilities.

We have lost the ability to concentrate on deep reading. Fragmented reading requires interesting and concise text content, and videos and pictures are important weapons to attract readers.

Network segments only spread eye-catching superficial and easy-to-understand entertainment content, and rarely provide detailed data and facts.

We have lost the ability to think complex. When we are used to summarizing complex phenomena with simple labels, we no longer need to analyze multiple dimensions of problems and understand the complexity of things.

Most importantly, we have lost the ability to express ourselves truly. When we all use the same network expression, our personality is actually erased.

We thought we were showing ourselves, but in fact we were just repeating the collective discourse.

Neil Pozmann warned in "Entertainment to Death":

"Our politics, religion, news, sports and business are all willing to be vassals of entertainment, without complaint or even silence. As a result, we have become a species of entertainment to death."

Behind the "abstract" carnival is our escape from the complexity of life. When we use "Juejuezi" to sum up all the beauty and "emo" to refer to all the sadness, we lose the ability to experience those subtle and real emotions.

Language is not only a tool for communication, but also a framework for thinking. When we simplify language, we also simplify our thinking and our understanding of this complex world.

When we feel a sense of belonging to the same set of slang, we are actually giving up the truly unique thinking-that is our most precious thing.

What do you think of this? Welcome to leave a message in the comment area to discuss ~

– END –

Original title: "We are using" abstraction "and" stalk "to quietly abolish the brains of young people"

Read the original text

On November 6th, 2023, Ping An Health and the Center for Chronic Non-communicable Diseases of China Center for Disease Control and Prevention (hereinafter referred to as "China Center for Disease Control and Prevention") jointly initiated and compiled the Digital Diabetes Management Research Report, which was officially released. The meeting invited more than 50 experts and industry guests from China CDC Chronic Disease Center, Shanghai CDC Chronic Disease Institute, Shandong CDC Chronic Disease Institute, Ping An Health, Ping An Life Insurance Company of China and other institutions to participate, and jointly showed the frontier exploration results of Ping An Health Digital Diabetes Management to the society, so as to promote the wide application of intelligent and digital medical and health services.

Ping An’s active health innovation method can help patients improve their compliance and blood sugar, which has long-term effects.

At the meeting, Dr. Mao Fan from the Center for Chronic Diseases of China CDC made a theme sharing on the "Research Report on Digital Diabetes Management", the "protagonist" of this conference, entitled "Analysis on the Effect of Diabetes Online Management Based on Ping An Million Chronic Diseases Project". This study analyzed the user data of Ping ‘an chronic disease housekeeper online sugar control training camp. The results showed that the blood sugar compliance rate of users participating in the online sugar control training camp remained at 57.3% after six months of camp closure. According to the detailed data trend analysis of the samples of the subjects, it was found that the fasting blood glucose of the users with abnormal blood glucose at the time of entering the camp decreased from 7.54 2.13 mmol/L at the beginning of the camp to 6.44 1.42 mmol/L at the end of the camp, and further improved to 5.68 2.05 mmol/L at the follow-up of one month. Similar trends were also observed at the follow-up of three and six months.

Conclusion: Combining online management tools with lifestyle medical management mode of enterprise WeChat community sugar control training camp, the active health intervention measures are directly related to the reduction of fasting blood sugar of participants, which has an effective impact on improving the health outcome of the management object, significantly improving the compliance of the management object, and has long-term effects on blood sugar control and improvement. This conclusion further reveals the advantages and potential of digital medical management tools in long-term blood sugar management, and provides an important reference for the prevention and treatment of regional chronic diseases.

Professor Zhou Maigeng from the Center for Chronic Diseases of China CDC affirmed Ping An Health’s breakthrough and innovation in the field of chronic disease management and services, and congratulated the accumulated service users of the "Ping An Chronic Disease Manager" information platform on exceeding 1 million. As the largest real-world digital chronic disease management intervention project in China, this project takes "lifestyle medicine" as the discipline basis and "active health" as the intervention strategy, and designs a series of innovative methods and tools to improve the compliance of patients with chronic diseases and the effect of chronic disease management, providing "online+offline" high-quality services for the majority of patients with chronic diseases.

Ping An Health continues to build a new ecosystem of service, intelligence and specialization in chronic disease management.

Wei Yongjun, senior vice president of Ping An Health, said that Ping An Health closely follows the strategic goal of "Healthy China 2030", constantly thinks about and explores "digital empowerment health management", and creates a unique business model of "managed medical care+family doctor membership +O2O medical health service" to provide users with one-stop medical and health services that are "worry-free, time-saving and money-saving". In this strategic layout, the important role of family doctor is connected in series with a safe and healthy "to the line, to the store and to the home" service network, which can better meet the diversified chronic disease management needs of users and benefit more patients with chronic diseases in the chronic disease management scenario.

In the next step, Ping An Health will continue to exert its cutting-edge technologies such as big data and AI, convey the temperature of science and technology, cooperate with all walks of life in depth, and make more efforts and contributions to the development of chronic disease management.

Amak Chan, director of sales management department of Ping An Life Insurance Company of China headquarters and general manager of Pocket E platform team, said that the birth of "Ping An Million Chronic Diseases Project" is a concrete exploration and practice of building insurance with temperature in Ping An Life Insurance Company of China to meet the needs of customers for chronic diseases management, which has solved the pain points of insurance customers "no scientific methods, lack of experts to answer questions, difficulty in adhering to healthy habits, inability to prevent concurrent risks, and neglect of abnormal indicators". Since the project started in 2021, it has served more than one million customers, with a satisfaction rate of 99%. The attention and academic evaluation of the Center for Chronic Diseases of China CDC on the "Ping An Million Chronic Diseases Project" gave Ping An great confidence. In the future, Ping An Life Insurance Company of China will continue to firmly implement the service path of "insurance+health management" to help customers enjoy a healthy and beautiful life.

In the round table session, Professor Zhou Maigeng from the Center for Chronic Diseases of China CDC, Guo Xiaolei, director of Shandong Institute for Chronic Diseases, Shi Yan, director of Shanghai Institute for Chronic Diseases, and Dong Li, vice president of Ping An Health Family Medicine, discussed the theme of "innovating active health intervention strategies and promoting the construction of lifestyle medicine".

It is worth mentioning that in 2022, Ping An Chronic Disease Manager entered the first batch of typical digital products and services for the prevention and treatment of chronic diseases in the Chronic Disease Center of China CDC, and the Ping An Chronic Disease Manager Information Platform successfully passed the product catalog evaluation of China County Hospital Medical Community in October 2023, which fully demonstrated that Ping An Health’s "innovative active health intervention strategy" has the value of popularization and practice. The research results of the Center for Chronic Diseases of China CDC and Ping An Health’s digital chronic disease management further confirm the breakthrough effect of this innovative intervention strategy of digital application to active health.

1905 movie network news On the evening of November 26th, the movie Long Live was premiered in Beijing. Directors Cheng Gong, Ren Changzhen and the producers of the film appeared one by one. Go player Ke Jie also attended the premiere as a special guest to watch this documentary film. Although the host never let go of the feeling of chatting with Ke Jie and playing chess with artificial intelligence, Ke Jie returned to the movie, saying that after playing chess with artificial intelligence, he felt that life was not easy and long live life.

　

Long live life records the living conditions of more than ten ordinary Chinese in 2017. Among these people, there are female taxi drivers, street singers and couples, and uncles who pedal three rounds in Lhasa. These people who have no intersection constitute the hardships and helplessness that the film wants to tell, but everyone is silently insisting on life.

　

When talking about why he invested in such a film, producer Guo Binggang said: "As a practitioner in the industry, a director once said that in our industry, people are doing it and the sky is watching. The industry is progressing, and practitioners should provide the audience with nutritious works. Long live life is one of them. This film is kind and warm. I believe this film will go well in the future. This film can make some contributions to the industry. "

　

The two directors have worked closely together before, and the title of "Long Live" comes from a TV documentary that they collaborated on 10 years ago. Ren Changzhen, one of the directors, said that this cooperation was planted 10 years ago. She recalled that she was still a TV director who filmed celebrities instead of ordinary people, while Cheng Gong was an advertising director.

　

Recalling the filming process, Cheng Gong said that it was very easy: "It is easy to make a film. It’s very simple for us. It took three months. After 45 days. This movie is over. Very easy. " But to his surprise, the film was well received during roadshows in more than 20 cities.

　

Go player Ke Jie, as a special guest, also took the stage to talk about his feelings. Although he was also "digging a hole" by the host and talked about his experience of playing chess with artificial intelligence, Ke Jie still smiled and said that after playing with AI, he knew that life was not easy, and then said: "After playing chess with AI, I will feel that life is very beautiful, long live life."

　

The movie Long Live will be officially released on November 27th.

　　On March 16th, the State Council Financial Stability and Development Committee held a special meeting to study the current economic situation and capital market issues. Affected by this, A shares immediately rose across the board. As of the close of the day, the Shanghai Composite Index rose 3.48% to 3,170.71 points; Shenzhen Component Index rose 4.02% to 12,000.96 points; The GEM index rose 5.20% to 2,635.08 points.

　　Experts believe that at present, the global political and economic situation is complicated and changeable, unstable and uncertain factors are increasing, and the fluctuation of international financial market is intensifying. The the State Council Financial Committee held a meeting to respond to the hot spots and key issues concerned by the market in time, sending a clear signal of stable economy, stable market and stable growth, showing the bright background of China’s strong economic resilience and sufficient policy space, and effectively stabilizing market expectations.

　　Firmly support the development of the real economy.

　　The meeting called for coordinating epidemic prevention and control and economic and social development, keeping the economy in a reasonable range and keeping the capital market running smoothly. With regard to macroeconomic operation, we must implement the decision-making arrangements of the CPC Central Committee, effectively revive the economy in the first quarter, take the initiative to respond to monetary policy, and maintain moderate growth in new loans.

　　"The meeting released a signal that the central government attaches great importance to stable and healthy economic development, indicating that steady growth is still the current policy focus." Zhou Maohua, a macro researcher in the financial market department of China Everbright Bank, said that the meeting clarified the implementation path of macro policies. Next, the policy force should be appropriately advanced, and the reserve policy tools should be used in time to ensure the smooth operation of the economy.

　　"Monetary policy should seize the time window, be more proactive and aggressive, and timely use various monetary policy tools such as RRR cuts and interest rate cuts to make accurate efforts." Dong Ximiao, chief researcher of Zhaolian Finance, said that at present, the weighted average deposit reserve ratio of financial institutions in China is 8.4%, and there is still room for RRR reduction; The convenient operating interest rate for medium-term lending has remained unchanged for two consecutive months, and it is necessary and possible for policy interest rates and market interest rates to continue to decline. At the same time, it is necessary to further unblock the transmission mechanism of monetary policy, increase positive incentives for financial institutions, and inject liquidity into the real economy more efficiently and accurately.

　　When conveying the spirit of the meeting of the Learning Finance Committee, the People’s Bank of China said that monetary policy should take the initiative to respond, new loans should maintain moderate growth, support small and medium-sized enterprises vigorously, firmly support the development of the real economy, and keep the economy running in a reasonable range.

　　"It is expected that a prudent monetary policy will exert moderate efforts in 2022, promote the moderate expansion of credit, guide financial institutions to increase their support for the real economy, especially small and medium-sized enterprises and technological innovation enterprises, further reduce the financing cost of the real economy, and effectively hedge the downward pressure on the economy." Chen Li, chief economist of Chuancai Securities, said.

　　In the face of the impact of the epidemic, it is urgent to "release water to raise fish", enhance the willingness of enterprises to invest and produce, and stimulate the vitality of market players. This requires active fiscal policies to improve efficiency and help enterprises bail out. Tian Lihui, dean of the Institute of Financial Development of Nankai University, said that on the one hand, it is necessary to implement the annual tax rebate and tax reduction target of about 2.5 trillion yuan as soon as possible, focusing on supporting key industries such as small and medium-sized enterprises, individual industrial and commercial households and manufacturing industries, and enhancing the vitality of market players; On the other hand, we should actively expand effective investment, focus on the country’s major strategic deployment and the "14 th Five-Year Plan", moderately advance infrastructure investment, continuously optimize the investment structure, and effectively play the role of steady growth of investment.

　　"While giving full play to their respective advantages, fiscal policy and monetary policy should also strengthen coordination in terms of policy direction, action time and policy intensity to enhance policy effectiveness." Tian Lihui said that policies such as employment, industry and investment should also be coordinated to maintain the forward-looking, timeliness and stability of macro policies and escort China’s economic stability.

　　Keep the capital market running smoothly.

　　Recently, A-shares have undergone a round of substantial adjustment due to the superposition of multiple factors such as the continuous spread of the global epidemic and the geopolitical conflict between Russia and Ukraine.

　　The meeting of the Finance Committee stressed that relevant departments should earnestly shoulder their responsibilities, actively introduce policies that are beneficial to the market, and prudently introduce contractive policies. Any policy that has a significant impact on the capital market should be coordinated with the financial management department in advance to maintain the stability and consistency of policy expectations.

　　"The capital market is closely related to the development of the real economy, to the vital interests of hundreds of millions of ordinary investors, and to financial stability and social stability." Dong Ximiao said that it is very timely and necessary for this meeting of the Finance Committee to explicitly demand the stability of the capital market.

　　Stabilizing the capital market is inseparable from stabilizing market players. Chen Li said that due to the epidemic, China’s real economy is facing many difficulties, and it is necessary to increase support for the real economy, especially small and medium-sized enterprises. On the one hand, support policies need to be more targeted, and financial institutions should thoroughly study the needs of different enterprises, especially the characteristics of financial needs of small and medium-sized enterprises, to ensure that credit funds are smoothly invested in the real economy; On the other hand, it is necessary to further improve the efficiency of market resource allocation and fill the shortcomings of the capital market in serving small and medium-sized enterprises and technological innovation enterprises.

　　When conveying the spirit of the meeting of the Learning Finance Committee, the China Securities Regulatory Commission said that the next step would be to push forward the reform of the stock issuance registration system in an all-round way, improve the bond financing support mechanism of private enterprises, and promote the development of venture capital.

　　"Promoting the registration system in an all-round way can effectively alleviate the financing difficulties of enterprises, strongly support the development of innovative and entrepreneurial enterprises, and accelerate the transformation and upgrading of China’s industry." Tian Lihui said that it is necessary to continuously improve the construction of the basic system of the capital market, including setting up a market stability fund, optimizing the short-selling trading mechanism, improving the supervision ability and level, and establishing a delisting system that matches the registration system, so as to better serve the full implementation of the registration system.

　　Maintaining the stability of the capital market is a systematic work. "The Finance Committee meeting emphasized that policies that have a significant impact on the capital market should be coordinated with the financial management department in advance. Only in this way can individual rationality be prevented ‘ Fallacy of composition ’ To maintain the stability and consistency of the policy. " Dong Ximiao said that relevant departments should also introduce more targeted policies and measures, provide "real money and silver" to support the healthy development of the capital market, introduce more long-term funds and institutional investors, and enhance the stability of the capital market.

　　Strong economic resilience and sufficient policy space

　　Market participants believe that the meeting of the Finance Committee released a positive signal of stable expectations and steady growth, which further highlighted the background of China’s strong economic resilience and sufficient policy space.

　　"Since the beginning of the year, the downward pressure on China’s economy has increased, overseas epidemics have continued to spread, international geopolitical conflicts have escalated, energy and commodity prices have risen, policies in developed economies have turned, and global financial markets have been turbulent. At the same time, domestic demand is still in the recovery stage, the imbalance of industry recovery is very prominent, and the operation of small and medium-sized enterprises still faces challenges, which have affected market expectations. " Zhou Maohua said.

　　Stabilizing the market must first stabilize expectations. The meeting of the Finance Committee was decisive and effective, which responded well to market concerns, boosted market confidence and stabilized development expectations.

　　"The A-share market has sprung up, and the stock prices of Hong Kong stocks, especially Internet companies in Hong Kong stocks, have risen sharply, sweeping away the gloom of the decline in the past few days and giving a strong boost to market confidence." Yang Delong, chief economist of Qianhai Open Source Fund, said.

　　Chen Li believes that A-shares may continue to be disturbed in the short term due to negative factors such as the Russian-Ukrainian conflict, the Fed’s interest rate hike, and the spread of the epidemic. However, in the medium and long term, with the coordinated efforts of fiscal policy and monetary policy, domestic liquidity is guaranteed and economic development has long-term resilience. At the same time, new infrastructure, new energy, high-end manufacturing and other industries will release new growth momentum for China’s economy and help the A-shares to continuously enhance their resilience.

　　"There should be enough confidence in the follow-up performance of the A-share market." Tian Lihui said, first of all, the Chinese government attaches great importance to economic development and has a rich policy toolbox, and will continue to introduce strong support policies in due course. Secondly, China’s A-shares are moving towards high-quality development, and a number of "little giant" enterprises are emerging, and investment opportunities in the capital market are constantly emerging, attracting global investors to increase the allocation of the A-share market. Thirdly, China’s market players, institutions and investors are maturing, and the concept of value investment is gradually taking shape.

　　At present, China’s national economy continues to recover, the main macroeconomic indicators are running in a reasonable range, and the performance of listed companies is stable and good, laying a good foundation for the annual economic performance. Experts said that with the active deployment of the Finance Committee meeting, it is expected that the steady growth policy will continue to exert its strength in the future, escorting China’s stable economy and the healthy and stable development of the capital market.

Text: Fan Chuxue

introduction

In 2021, the property acquisition and merger market continued the lively and extraordinary scene in the past, and it became more and more intense, with the transaction scale and transaction amount hitting record highs. Since the beginning of 2021:

Country Garden Service has successively acquired Blu-ray Garbo Service for 5.432 billion yuan and Fuliang Global for 10 billion yuan to set a new record for industry mergers and acquisitions, and then acquired Color Life Neighborhood Music for 3.3 billion yuan;

Longhu Smart Service is uncharacteristically acquired this year, and has been included in four property enterprises: Yida Service, Kailin Commercial Service, Wharf Property and Happiness.

In addition, a number of material enterprises frequently acquire information, and regional enterprises and growth enterprises also actively join the queue of mergers and acquisitions.

Based on this, we believe that the property industry is experiencing the moment when "growth period" changes to "maturity period" in the "industry development cycle". At this stage, the integration of enterprises is accelerating, the concentration of industries is rising rapidly, and at the same time, the market’s requirements for quality service, brand building and service efficiency are constantly improving.

On the whole, the driving force behind the accelerated integration of the property industry mainly comes from three aspects:

Policy promotion: On January 5, 2021, the Ministry of Housing and Urban-Rural Development and other departments jointly issued the Notice on Strengthening and Improving Residential Property Management, which mentioned: improving the quality of property services, supporting the merger and reorganization of property service enterprises, promoting the scale and brand management of property services, and improving the overall service level;

Capital assistance: a large amount of funds flow to the market, which pushes up the enthusiasm for mergers and acquisitions between enterprises;

Real estate liquidity pressure: In order to alleviate the financial pressure, affiliated real estate sells assets to save itself, and promotes the climax of mergers and acquisitions from the supply side.

From the perspective of industry development, the integration and merger between enterprises is the only way to achieve high quality, and will also accelerate the transformation and upgrading of the industry to a great extent.

It can be predicted that in the current development environment of the property market, whether based on the consideration of pursuing scale expansion and business expansion, or out of the demand of withdrawing funds from related real estate, "acquisition and merger" will be the main tone of the property industry in the next 2-3 years.

However, it is undeniable that at present, there are still great deficiencies in post-investment management of property enterprises. These enterprises either follow the trend, or try to "eat fat in one bite", blindly pursuing scale growth and ignoring the integration and operation management after the merger, which ultimately not only makes the merger effect unsatisfactory, but also fails to meet the original development expectations of the enterprise, and instead becomes the resistance to the development of the industry.

Color life is a typical example of "throwing and not caring". As the "first share of property", Color Life enjoys the dividend of capitalization development of the industry, and is naturally the "originator" of property acquisition. Since 2013, Color Life has initiated 102 acquisitions and merged into 35 companies in one year at the peak of the acquisition. However, in this process, the color life gradually lost its original intention, regardless of the quality of the target, and the post-investment management was ineffective, which led to the deterioration of the business situation.

In September 2019, Color Life completed the last acquisition;

In 2020, after the acquisition of Color Life was stopped, the revenue regressed for the first time, which was 6.5% lower than that in 2019.

It can be seen that the previous mergers and acquisitions only brought a simple "digital accumulation"; After the "addition" calculation is stopped, the "multiplication" within the color life is completely invalid.

At this time, the color life seems to wake up from a big dream, and it is determined to pick up the goal of building quality again and carry the banner of "second venture". However, the management problem of years of siltation cannot be solved overnight, and the performance of color life in the first half of 2021 shows a retrogression trend again.

Source: Jiahe Jiaye Property Cloud

In September 2021, Color Life disclosed the sale of its Neighbourhood Music Holdings, which included core assets such as Vientiane Beauty Property, Vientiane Beauty Residence and Kaiyuan International, all of which came from the early acquisition of Color Life. It can be seen that Color Life failed to achieve the expected results in these acquisitions, and this swallowing and spitting not only wasted the pre-emptive time advantage of Color Life, but also dampened the vitality of the enterprise and cast a shadow over its development prospects: after nearly one month of suspension, the stock price of Color Life fell sharply by 35.57% on the first day of the resumption on October 27, and the road to "returning blood" as the first share of the property was long.

Therefore, this paper will discuss the following three issues around the post-investment management of property enterprises after merger and acquisition:

Why is post-investment management so important?

What are the problems in the post-investment management of current enterprises?

How to do a good job in post-investment management?

It is hoped that through the analysis of the above problems, property enterprises can pay more attention to post-investment management and help enterprises achieve the expected goals and effects to the greatest extent in mergers and acquisitions.

one

Why do you need post-investment management?

The normal investment process is divided into four parts: "raising, investing, managing and withdrawing", in which "managing" is the longest step, and it belongs to the post-investment management period after the investment is implemented until the project is withdrawn. Usually, the work of post-investment management mainly includes project execution, project tracking, project management, value-added services and so on.

The special feature of property enterprises’ merger and acquisition is that in more than 90% of the transactions, the acquirer will acquire 51% or more of the shares to obtain the controlling stake, and the ultimate goal is to integrate the business and technology of the acquired party into the group system. Few enterprises will choose to withdraw from the project after making profits. Therefore, compared with ordinary investment, material enterprises should pay more attention to the importance of post-investment management in order to better absorb each other’s high-quality resources to empower themselves, improve the efficiency of mergers and acquisitions, and achieve a win-win goal. Specifically, the necessity of post-investment management includes the following three points:

Control project risks and reduce development uncertainty: track enterprise operation and reduce trial and error costs;

Fully integrate the advantages of resources and enhance the long-term value of enterprises: to maximize the strengthening or complementarity of advantages;

Forced to improve pre-investment management and optimize investment logic: provide more targeted suggestions and references to help M&A transactions.

1. Control project risks and reduce development uncertainty.

For the newly merged enterprise, its daily operation, financial management, personnel composition and other aspects have a process of adjustment, so it is necessary for the acquirer to implement risk control after the investment is completed, track the changes in the internal and external environment of the enterprise, and provide timely guidance to reduce the potential trial and error costs.

Operational risk: there are differences in work processes between the two parties, which are not adjusted in time or lead to low efficiency in daily operation; The business of the acquired party can not be quickly integrated into the original business system, so that it can not produce synergistic effect; Or the acquired enterprise is easy to face the risk of selling after undergoing great changes.

Financial risk: whether the acquirer can effectively control the financial affairs of the acquired party; In order to increase the consideration of M&A, the acquired party does not disclose the hidden debt, which may have a serious negative impact on the subsequent development of the enterprise, and even create a great risk of goodwill impairment in future operations. Therefore, the acquirer needs to focus on the liabilities of the other party.

Risk of organizational structure change: streamlining or adjusting the core personnel of the acquired party may affect the stability of the team, and the loss of core personnel will greatly weaken the competitiveness of the enterprise; After the change of senior staff, there will inevitably be problems of inconsistency between the old and new management concepts, management rights and objectives, which will lead to management confusion and low decision-making efficiency.

2. Fully integrate resource advantages to enhance the long-term value of enterprises.

As mentioned above, property companies want to empower their own development more when acquiring and merging, and whether the long-term value of enterprises is improved is an important criterion for the success of mergers and acquisitions. Only by efficiently integrating the superior resources of both parties and maximizing the reinforcement or complementarity of advantages can it be called effective merger and acquisition; This can also be seen in some acquisition cases of listed companies:

Country Garden Service: In July, 2020, Country Garden Service acquired the elevator advertising operator City Zongheng. After fully integrating resources and stimulating the synergy effect by the team, the operational efficiency of the enterprise in the field of community media was greatly improved, and a community integrated marketing plan was created for several brands. In 2020, Country Garden’s revenue from community media services increased by more than 200%; In the first half of 2021, the revenue of this business rose by over 500% year-on-year, making it one of the most bright businesses in the community value-added service sector.

Sunac Service: In May 2020, Sunac Service completed the acquisition of Kaiyuan Property. At that time, the average PE of listed property companies comparable to Sunac Service was in the range of 30x~40x; On November 19, 2020, Sunac Services officially landed on the Hong Kong Stock Exchange, and closed at 85 times P/E ratio on the day of listing, ranking first in the property sector that day. From this aspect, it can be seen that Sunac Service has achieved the common promotion of enterprise value through good integration and coordinated development with the acquired party.

3. Forced to improve pre-investment management and optimize investment logic.

Pre-investment management and post-investment management complement each other, and the pre-investment department needs continuous tracking and analysis by the post-investment team to complete the investment work; In the process of management, the post-investment team can find the flaws in the pre-plan more intuitively, and feedback from the cause. In this way, through feedback and adjustment, the investment logic and investment calculation model of enterprises are continuously optimized, which is convenient for enterprises to provide more targeted suggestions and references for the next investment layout, and is also helpful for the development of future mergers and acquisitions.

As can be seen from the acquisition announcements of some enterprises, in addition to setting requirements on fundamentals such as finance and performance, enterprises will also attach a number of provisions on personnel appointment, asset disposal, equity incentive plan and so on. To some extent, enterprises constantly optimize the setting of investment agreements according to the post-investment feedback of early transactions, so as to protect the long-term interests of both parties to the greatest extent.

Table: Conditions for Announcement of Acquisition of Some Enterprises

Source: Jiahe family business arrangement

two

What are the problems in the post-investment management of enterprises at present?

The importance of post-investment management has been expounded in the previous article. However, looking at the enterprises that are active in the M&A market at present, there are very few enterprises that can really implement post-investment management. More importantly, their own funds are wasted or development opportunities are missed due to their inability to properly digest the M&A targets, and even the original progress of enterprises is dragged down.

Especially in 2021, the M&A market showed many "big fish eat big fish" or even "small fish eat big fish" transactions, such as purchasing more than 80 million square meters of Cedar Zhilian in Hejing Youhuo with a management area of only over 20 million square meters, and using over 50% IPO to raise funds; Country Garden Services acquired the Blu-ray Garbo service, involving an area of 130 million square meters, and the transaction amount of acquiring Fuliang Global reached 10 billion.

It is these increasingly large-scale mergers and acquisitions that put forward more demands for post-investment management. On the whole, the weak points of current post-investment management of enterprises focus on strategic positioning, brand building, organizational structure adjustment and cultural differences.

1. For the sake of expansion, the strategic goal is not clear.

At present, the industry is still in the development stage of "the bigger the scale, the higher the status", and expanding the scale is a necessary means for enterprises to enhance their influence. However, due to the unclear strategy and unclear objectives, some enterprises have fallen into the "scale-only theory" under the influence of industry trends, and only pay attention to the superficial digital growth after the merger, ignoring the long-term positioning of the merged party and the overall development of the enterprise.

Taking Color Life as an example, among the 102 M&A transactions initiated by it, the target enterprises are distributed in 23 provinces and cities, and the project density is extremely low. Property enterprises all hope to achieve economies of scale, and enhancing the project density is a necessary condition. Therefore, the unplanned "scattered" acquisition of Color Life will not only fail to form a scale, but will increase management costs.

Source: Jiahe Jiaye Property Cloud

2. The management of the acquired party is in a dilemma.

According to the statistics of Jiahe family business, at present, more than 80% property companies will choose to streamline or adjust the senior staff of the acquired party when implementing mergers and acquisitions. "Dramatic" management innovation may lead to team instability, but also easily lead to brain drain; Reflected in the business, it may cause the goal and strategy of the enterprise to be discontinuous and affect the operation of the enterprise.

Some enterprises choose to keep the core staff of the original management after considering the factors such as operational stability and team mood after the merger of the target, but there may be differences in business philosophy or management methods between the personnel stationed by the acquirer and the original management of the acquired party, resulting in low decision-making efficiency; Even being jointly overhead by the other party is not conducive to the long-term development of enterprises.

3. Corporate culture differences are hard to eliminate, lacking deep driving force.

Property is a labor-intensive industry with a large number of employees, and the importance and differences of corporate culture are more prominent. For two enterprises with different development history and cultural atmosphere, the understanding of things and the ways and methods to deal with problems are different, so it is difficult for enterprises to form a unified internal driving force, and the sense of identity and belonging of employees will be significantly reduced.

Take regional physical enterprises as an example. The scale and team of these enterprises are usually relatively small, so the structure is more flat, and the communication and implementation of processes rely more on years of tacit understanding and habits. Therefore, when they have to abandon the original working mode and integrate into the perfect organizational structure of large enterprises, they may show very strong inadaptability or even rejection, and their work enthusiasm and self-motivation may be greatly reduced.

4. Neglect of brand building, brand synergy is weak.

In the era of high homogeneity in the property industry, brand has risen to the core competitiveness of enterprises. Brand not only represents the strategic direction of enterprise’s future development, but also is the comprehensive expression of enterprise image and enterprise spirit. Therefore, a good brand building can build a clear strategic pillar for the enterprise, and can establish a unique value outside the enterprise, so as to enhance the visibility of the enterprise and drive the business with the brand.

However, in the 40-year development process of the property industry, it was not until 2019 that enterprises began to pay attention to their own brand building. Up to now, the overall brand building is still in the primary stage, and only some head enterprises are in the transitional stage, not to mention incorporating the business and positioning of newly merged enterprises into the brand connotation during the acquisition and merger stage to form brand synergy. For listed property enterprises, the goodwill has surged after the merger, and it is easy to face the risk of goodwill impairment and even the risk of performance storm in the later stage of poor management.

three

How to do a good job in post-investment management?

In view of the problems existing in the post-investment management of material enterprises at present, through combing the post-investment management methods of many enterprises, Jiahe Jiaye puts forward the following four suggestions:

Clear strategic objectives, precise positioning and precise force.

Create service quality and focus on the long-term development of enterprises

Attach importance to the management of core personnel and ensure the continuity of enterprise operation

Promote team communication, empower business vitality.

1. Clear strategic objectives, accurate positioning force.

For some enterprises, there are some problems in post-merger management, such as lack of planning for future business blueprint and clarity of team goals. Enterprises should make clear their own strategic direction, formulate clear development paths before merger and acquisition transactions, and provide clear goals and guidance for post-investment consolidation. At present, the head enterprises are more mature in this respect, such as Country Garden Services focusing on the acquisition of commercial operation-related enterprises, and Ya Life acquiring a number of urban service-related enterprises.

Shimao Service: In April 2020, Shimao Service officially entered the university property by acquiring Zhejiang University Xinyu. In May, Zhejiang University’s Xinyu Huanxin brand image was released, and at the same time, the industry’s first "Yulin Campus Service Ecology" developed for campus logistics services was released. Since then, Shimao Service and Zhejiang University’s Xinyu have opened a new era of campus service. In the first half of 2021, Shimao’s campus value-added service revenue was 222 million yuan, making it one of the enterprises in the industry to provide college property services.

Ya Life: In February 2020, Ya Life acquired Zhongmin Property, which has a leading position in public construction, and thus entered the role of "city service provider". In 2021, Ya Life successively acquired five sanitation enterprises, and won the bid for the first maritime sanitation project and several municipal sanitation projects with an annualized contract amount exceeding 10 million, extending the city service industry chain to professional market segments.

2. Create service quality and focus on the long-term development of enterprises.

Post-investment management methods cannot be generalized, and material enterprises should "apply laws according to their materials" according to the actual situation of both parties. According to different target enterprises, different integration or management methods should be adopted in the post-investment stage; At the same time, it uses its own operating system to track and guide the acquired party in detail.

However, fundamentally speaking, the essence of property is an enterprise that provides services, and its development will ultimately fall on the quality of service. Furthermore, the current market has gradually changed from simply focusing on performance to comprehensively considering the service content, service quality and market reputation of enterprises. Therefore, enterprises should put an end to "regardless of collection", strictly control the service quality of each project, build a service team in a refined way, and ensure the consistency of service quality and professionalism, for example, by building benchmark projects and then copying and promoting them to promote the long-term sustainable development of enterprises.

3. Pay attention to the management of core personnel and ensure the continuity of business operations.

Top management is the central figure of a company’s decision-making, and it is also one of the core competitiveness of the company. Therefore, enterprises should avoid large-scale changes in core personnel and organizational structure reform in a short period of time to ensure the continuity of their daily operations and decision-making.

In addition, the enterprise can regularly organize the core personnel of the team to exchange and train; At the same time, the incentive mechanism is introduced in the acquired party, and the business responsibility and performance reward are clearly defined, so as to bind common interests and enhance employee motivation.

Country Garden Service: Country Garden Service disclosed in the announcement that if the compound annual growth rate of non-net profit deducted by Manguo Kangjie reaches the set conditions, its core management team can get corresponding cash or share rewards.

Photo: The core employee incentive plan announced by Country Garden Service’s acquisition of Manguo Kangjie

Image source: Country Garden Service Announcement

Hejing Youhuo: After the acquisition, Hejing Youhuo combed and empowered talents in time, conducted a good two-way communication mechanism with the other party, regularly participated in its management meetings, set up a profit sharing mechanism, and encouraged employees and management to work together to achieve the goal of deeply binding the interests of management and team.

4. Promote team communication and enhance business vitality.

M&A pursues 1+1>2, but it is not a simple 1+1. Property companies need to realize that the most important thing in the reorganization of different teams is cultural exchange and integration, so as to unify ideas with culture and promote integration with culture. Enterprises can help new members to deeply understand the strategy and culture of enterprises by preaching the strategy and corporate values; Or organize activities to promote members’ exchanges, promote mutual trust and integration, and finally realize the improvement of business vitality.

Taking Hejing Youhuo as an example, after the acquisition, we actively promoted the integration of new members and the group through the rooting of corporate culture. Hejing Youhuo guides employees with "six-dimensional values", and strengthens personnel training through at least monthly communication and business mining linkage and cooperation to ensure the stability of the team and the vitality of the business.

For example, Hejing Youhuo acquired Guangzhou Runtong Property, enhanced the sense of belonging and identity through empowerment and training, and realized the deep integration of the employees of the invested enterprises within the Hejing system. At the same time, it controlled and stimulated the member enterprises based on the large platform. In the first half of 2021, there were more than 20 new expansion projects of Runtong Property.

tag

Is 1+1>2 or 1+1 finally achieved by M&A?<1，投后管理是关键。由于忽视或缺乏良好的投后管理，行业中曾出现过许多并购失败的典型案例，这些企业往往出现并购后管理混乱、丢盘、业绩增长乏力的情况，最终以再出售项目草草收场。

However, the upsurge of M&A will never stop because of this. At this critical period when the concentration of the industry jumps, enterprises need to think more about how to do a good job in post-investment management, so as to fully enjoy the efficient and accelerated scale economic development of enterprises brought about by M&A.

This article was first published on WeChat WeChat official account: Jiahe Family Property Service Research Institute. The content of the article belongs to the author’s personal opinion and does not represent Hexun.com’s position. Investors should operate accordingly, at their own risk.

"Red Star News" WeChat official news on September 1, recently, Red Star News received a report that someone on the Chinese forum of the dark network sold the relevant data of SF Express and Logistics, entitled "Exclusive Data of 300 million SF Express Logistics".

Screenshot of dark network trading market page　　

From the 100,000 pieces of inspection data provided by the informant, the Red Star journalist randomly dialed more than 10 people and found that the phone number, name and address were all real, and the phone owner did use SF Express to receive and send items.

In this regard, Li Tiejun, a network security expert, told the Red Star journalist that whether the news on the dark network is true or false is the latest data or the data that has been leaked before and sorted out later needs to be confirmed.

At present, SF said that it had called the police for the first time, and the police have not announced the progress of the incident.

The dark net has been registered for a month and a half.

A total of more than 100 sales information stickers were posted.

The informant revealed to the Red Star journalist that he had logged into the Chinese forum of Dark Network and found the trading area of the website. Under the category of "data and intelligence", a user with the ID of "bijiaodiao1688" posted a post of "exclusive data of 300 million express logistics in SF Express" at 5: 14 pm on July 18th.

Screenshot of selling information webpage

After clicking on the post, the seller "bijiaodiao1688" emphasized that "the data that can be sold this time is the exclusive data of SF Express Logistics", and said that these data totaled 300 million pieces, including the name, address and telephone number of the sender, and the price was 2 bitcoins (calculated at the price on August 28, about 96,000 yuan).

In the post, "bijiaodiao1688" indicates that the buyer can pay 0.01 bitcoin (calculated at the price on August 28th, about RMB 480 yuan) to inspect 100,000 pieces of data. It also specifically stated in the post that everyone’s data were randomly selected from 300 million articles, and all the data of everyone were not completely consistent.

As of August 28th, the number of data sold in the post is 100, and the number of transactions has been 9. Due to the setting of the dark net, we can’t see the chat records of the seller "bijiaodiao1688" and other buyers, only the last login time of the publisher of the post is in the near future.

According to the webpage, "bijiaodiao1688" was registered on the morning of July 11th. Over a month, more than 100 posts have been posted, most of which are for the sale of various information.

On July 31st, "bijiaodiao1688" published a post titled "SF 2017 Leak". In the post, "bijiaodiao1688" said that the data sold were SF 2017 data, and it once again emphasized exclusivity. This time, 0.5 bitcoin can buy 20 million pieces of data, and it also promises that the data is among 300 million pieces, and 0.5 bitcoin is the buyout price, "never sell it to others". This time, the number of data sold is 30, the price is 0.1 bitcoin, and the number of transactions has been 3.

According to the trading rules of dark net, all websites are settled by bitcoin, and bitcoin can be split into units with a minimum of 0.01. "This is to reduce the information asymmetry between the two parties. If the buyer finds it is not true after inspection, it can be complained within three days."

An industry insider, who asked not to be named, told the Red Star journalist that the dark net adopted a delayed settlement model similar to Alipay. After three days of receiving the purchased goods, if there is no complaint, it means that the transaction is completed and the station will allocate Bitcoin to the seller.

Randomly verify that the information of more than ten people is true.

Expert: Does it need a lot of verification?

Li Tiejun, a network security expert, told Red Star News reporter that the dark net blocked the search engine, so websites could not be found by ordinary people through search engines, and some illegal or even suspected criminal materials would be sold on the dark net.

The Red Star journalist saw from the screenshots of relevant pages provided by the whistleblower that in the same forum, there were many posts selling data such as hotel opening data of Huazhu, Zhejiang student status, first-hand data of 180,000 shareholders, university teacher data, 1 million real-name ID numbers and names, and all of them were being sold simultaneously. Among them, for the suspected leakage of the hotel opening data of Huazhu, Huazhu Group has said that it is currently cooperating with the police to investigate and promised to inform the public of the investigation results as soon as possible.

The informant contacted "bijiaodiao1688" as the buyer. After paying 0.01 bitcoin, "bijiaodiao1688" sent a network disk address with an extremely complicated password, and said, "Please confirm it, and we will follow up your needs later".

The address of the network disk refers to a document named "10w1". The information number shows a total of 100,000 pieces, and there are actually 97,624 pieces. The leaked customer information is distributed all over the country, including name, telephone number and very detailed address of each person. For example, "Xu X, 138XXXX8460, No.1×4, XX Avenue, Majiadian Street, zhijiang city, Yichang City, Hubei Province", "Xie Xli, 131XXXX1875, A1X3, XX Community, No.121, XX Road, Hedong District, Sanya City, Hainan Province" and so on.

In this regard, Li Tiejun is cautious. He reminds Red Star journalists that the news on the dark net is true or false and needs to be verified. Li Tiejun said that in general, some samples of the sales data will be verified. "If there are 300 million pieces of data, there should be at least 30,000 pieces of data to verify." In addition, whether it is the latest data or the data that has been leaked before and sorted out later needs to be confirmed.

soon afterwardsRed Star journalists randomly called 20 of them, 17 of whom had the same name, phone number and address as the contents of the document, and had also used SF Express to send and receive express delivery, and 3 of them did not answer the reporter clearly.

On the morning of September 1st, @ SF Group responded in Weibo that the company had reported to the police at the first time, and the data sold by the dark network was not SF data after cross-verification by technical means. Secondly, the data sold by the dark network do not involve the logistics characteristic information such as express mail order number, consignment, receiving and dispatching time, etc., and its source is unknown, and the purpose is suspicious in the name of SF. Because of its strong anonymity, the dark network has become a hotbed of black market and criminal proceeds, and there are great hidden dangers and risks. Everyone must pay attention to prevention and identification.

What is a dark net? Internet dark zone

Anonymous encryption makes it difficult for the police to verify

According to several media reports, in mid-November, 2016, the Netan Corps of Beijing Public Security Bureau successfully destroyed a group that used Internet media such as "dark net" to spread pornographic information about children for the first time, and arrested eight suspects. This case became the first case of illegal crimes committed by overseas secret network in China.

According to public information, the dark web is a subset of the Deep Web, belonging to a small part of the deep web. It refers to the collection of resources that are stored in the network database but cannot be accessed through hyperlinks but need to be accessed through dynamic web technology, and does not belong to the surface networks that can be indexed by standard search engines.

Li Tiejun told the Red Star journalist that all the things sold and communicated on the dark net are basically illegal, which is not allowed by laws of all countries. There are all kinds of bad things such as human trafficking and pornography on the dark net, and the darkest places on the internet are all on it, so it is called the dark net.

"Dark networks are all anonymous from communication website establishment, domain name application and other aspects, and various encryption methods are also used in various communication processes, so it is difficult to be tracked. Dark-net transactions use bitcoin, which makes it easy to hide yourself. At the same time, who sent the post and who received the money, even if the police were reported, it was very difficult for the police to verify it. They didn’t know which country was in charge, and it was very difficult for Interpol to track them. " Li Tiejun said.

SF had a case in which customer information was leaked before.

The employees involved were investigated for criminal responsibility.

Where did the leaked customer information come from? Who leaked it? SF said that it had called the police for the first time and the police had not announced the progress of the case.

According to media reports, in the inspection information, Hubei Province appeared the most times, with the number reaching 50011 times; Guangdong province followed, with the number of occurrences reaching 8117; Jiangsu province ranked third with 7446 times. Among them, Hubei province has become the hardest hit area for information leakage.

Coincidentally, in May 2018, the Jingzhou City Court of Hubei Province announced a SF data leakage case involving SF Express agents and several employees. There are more than 10 million pieces of personal information of citizens suspected of being leaked in this case, involving more than 2 million yuan. According to reports, relevant persons of SF Company said that the information security department of SF first discovered the abnormality of Hubei regional data, and handed over the clues of relevant cases to the local police for reporting.

According to the criminal ruling published by China Judgment Document Network, since the second half of 2015, 19 people, including Du Liming, a courier of Hebei SF Express Co., Ltd., have used WeChat, QQ and other software platforms to sell, provide and illegally obtain citizens’ personal information including SF Express’s bill number and face sheet (that is, pictures including SF Express’s bill number, address and telephone number) in order to seek illegal benefits. On December 6, 2016, the public security organs seized 52 emails in Du Liming’s QQ mailbox, containing 19,965 personal information of citizens. According to the statistics of Du Liming’s WeChat bill, the illegal income from selling citizens’ personal information is more than 160,000 yuan. In this case, more than 10 million pieces of personal information of citizens suspected of being leaked were finally seized, involving an amount of more than 2 million yuan. Nineteen suspects were sentenced to fixed-term imprisonment ranging from one to three years.

Zhao Zhanling, legal adviser of Credit Evaluation Center of Internet Society of China, told Red Star News reporter: "It is difficult for us to directly judge whether the SF customer data sold in the dark network is true or false. We are not sure through which channel and who leaked these customer information. It’s better to report the case and let the police investigate the source of the leak. If someone obtains data through illegal means, for example, stealing information through technology intrusion into the SF system, it is suspected of committing a crime, or it may be obtained by netizens through other online accounts. "

If this information leak is true, does SF take responsibility in this matter? Zhao Zhanling said that it depends on whether SF Express has fulfilled its responsibility and obligation of security, because there is a cooperative relationship between users and SF Express, and users submit personal information to SF Express, so SF Express should take measures to protect users’ information security. If SF employees secretly resell or the system has technical loopholes, which causes hackers to invade and steal information, in both cases, SF has not fulfilled its obligation to protect information security and should be liable for compensation to users.

Lawyer’s suggestion: the company can set two password keys to protect information.

Liu Lin, a lawyer of Beijing Shuangli Law Firm, told Red Star that at present, the protection of citizens’ personal information in China can be divided into two levels: legal protection and personal agreement protection.

The act of selling citizens’ personal information on the Internet first infringes on the rights of citizens whose information has been leaked, and if the circumstances are serious, it may constitute the crime of infringing citizens’ personal information or the crime of selling or illegally providing citizens’ personal information. No matter on which platform the personal information of citizens is leaked, as long as it meets the criteria for judging personal information and there are acts of selling or illegally providing it, it will constitute infringement, and if the circumstances are serious, it will constitute a criminal offence.

Liu Lin suggested that in recent years, cases of users’ personal information being leaked and sold have occurred from time to time, and many data were leaked by small staff in the company. If a large company wants to prevent information leakage, it can set two password keys, one for the company manager and the other for the law firm, and the lawyer who has the password key must be a senior lawyer who knows the legal risks, for example, a lawyer who has been practicing for more than 8 years can have the password key authority. When you need to open it to get the user’s personal information, you must have two password keys to open it at the same time, so as to protect the user’s personal information.

(The original title is "SF 300 million customer data is suspected to be leaked. The reporter actually measured that there are calls for SF customers")

There are always some rising new forces in the film and television industry. They are at the forefront of innovation and adventure, bringing great changes to the whole industry.

Author: coconut tree

After a year’s pause, the cinema film Spring Festival came back in 2021.

This year’s Spring Festival stalls, in addition to Detective Chinatown 3, who has been dormant for a year, there are several works that are either big cass or big productions squeezed into this runway. From the current performance, Hi, Mom directed by Jia Ling is the best one in word-of-mouth fermentation.

Unlike "Tang Tan 3", which was pre-sold first before the release, and the word-of-mouth spilled out after the release, Hi, Mom’s performance from before the release to after the release was more like a stable strength faction. And this is all due to the latter story itself.

Hi, Mom is a comedy film about affection, and the prototype of the story is Jia Ling and her mother. This is Jia Ling’s first film from a comedian to a film director. Undoubtedly, there are some audio-visual language problems, but this time, in the eyes of most audiences, these seem to be unimportant.

"Laughing with tears" is the most feedback given by the audience. From the market point of view, this may be the only magic weapon to make a commercial film successful, but Hi, Mom didn’t make his mark by this skill, it relied on sincerity, the sincerity of director Jia Ling and the sincerity of these actors.

This sincerity is particularly eye-catching among the films in the Spring Festival. It is a funny and crying movie that people around you recommend you to see, and there is a prototype story. In fact, it is difficult for you to find out the reason not to buy a ticket.

Highly empathetic: Jia Ling has sincerity you can’t ignore.

The film tells the story of Jia Xiaoling, played by Jia Ling, who travels to her mother’s youth after her accident, hoping to help her change her fate.

The predecessor of this story is a sketch directed by Jia Ling in 2016, also called Hi, Mom, and the film is an upgrade based on the continuation of the relationship between the characters in the sketch and the big framework of the story. The volume has been upgraded from a sketch to a movie, and it must be filled more finely and richly in terms of people’s design, character relationship and plot. On the basis of retaining the main characters, the film version of Hi, Mom has indeed made richer designs, but objectively speaking, if there is no emotional boost, the whole film is actually a bit empty. After the crossing, Jia Xiaoling helped her mother play volleyball and set up her love. In fact, these two simple things were told. These two things occupy a relatively large space, which seems to be rich, but they are actually wordy. The former is especially so, while the latter is probably much better because of the appearance of Shen Teng.

So far, if we go on, some people may say that a few small entertainments are cold-blooded and heartless. After all, this is a movie that has wet many people’s masks. Then let’s talk about why this movie is good.

I have to admit that the emotional core of this film can cover all the technical defects. From the first time Jia Xiaoling began to cry for her mother, even if it was only less than 20 minutes after the opening, the audience didn’t start to enter a state of strong empathy (at least for a few small entertainments), but you wouldn’t blame her, because you knew she meant it this time.

　Sincerity is a point that cannot be ignored in Hi, Mom. When Jia Ling promoted the film on the variety show, she also cried: "This time I took out my heart and showed it to you.". I feel it in a few small entertainments. Jia Ling made a dream in the movie, in which she went back to her mother’s youth, hoping to help her change her fate and make her have a happier life. But as everyone knows, this dream is actually a dream made by my mother to fulfill her dream. Just like reality, "Mom will always love you more than you think." No one can fail to feel this sincerity.

Jia Ling’s long crying scene at the end of the film is a very powerful fragment. Some people criticized this scene as Jia Ling’s "overexertion" and "ignorance of leaving blank space". However, for a person who wants to "show you her heart", it is her commemoration and even mourning for an important past and an important person in her life.

This kind of Jia Ling is not common outside the play, but you can still understand her, because she is a real person outside the play, and the audience has always been good. The existing star image has brought her a lot of help, which is Jia Ling’s greatest advantage in Hi, Mom.

Appropriate actors, announcements and schedules create momentum for word-of-mouth fermentation.

Except Jia Ling, almost all the other main roles in the film are played by Jia Ling’s good friends.

　From Zhang Xiaofei, Shen Teng, Michael Chen, to the actors of Bowl Entertainment, Jia Ling is a good friend outside the play. The marketing of the film also borrowed this point, emphasizing the years-long friendship between Zhang Xiaofei and Jia Ling, creating momentum for the film. It’s like, familiar friends all know your story, and then come together to help you realize your dream. Everyone is very sincere. Thanks to the natural affinity of these comedians, especially the participation of national comedians like Shen Teng, the whole film is natural.

A funny movie is bound to have a good impression in the Spring Festival. And Hi, Mom, a movie with both smiles and tears, is particularly special in this year’s Spring Festival. Affected by the epidemic, this schedule of the Spring Festival in 2021 does not necessarily mean "family happiness", but it must mean "family". Mom is one of the most important family members. This is also one of the most important publicity points before the film is released.

This year’s Spring Festival file is called by many people as a "super-strong" situation. After watching the "super" of "Tang Detective 3", many people will have the consumption demand of the second film under the condition of a seven-day long holiday. At this time, Hi, Mom’s good reputation just matched the audience’s psychology, so there is now the second wave of box office leader. The film’s release at such a schedule is like adding an amplifier to Hi, Mom’s influence, and word of mouth is fermenting. Anyone may be the potential audience of this film.

In addition, as a female director’s debut, the story is about "mother-daughter relationship", which undoubtedly put down a magnet in the film market dominated by female audiences and attracted most female audiences. This is also a big advantage of Hi, Mom.

Of course, it is the content itself that attracts the audience into the cinema the most. And Hi, Mom’s moving and sincere, fully worth the fare.

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