Xinhua News Agency, Tokyo, August 24th(International observation) How to talk about honesty after a long period of planning — — Before and after Japan’s decision to discharge nuclear polluted water into the sea

　　Xinhua news agency reporter

　　According to the decision of the Japanese government, Fukushima nuclear polluted water began to be discharged into the sea on August 24. This sewage disposal process will last for decades.

　　Tracing back to the whole process of Japan’s decision to discharge nuclear polluted water into the sea, we can clearly see that discharging nuclear polluted water into the sea is its long-planned "established policy", which is an out-and-out violation of international law and an extremely selfish and irresponsible state act. As a result, the cost of handling the Fukushima nuclear accident will be passed on to the whole world.

　　Nuclear polluted water has been discharged into the sea for a long time

　　Since the Fukushima Daiichi nuclear power plant suffered a serious accident in March 2011, a large amount of high-concentration nuclear polluted water has been produced every day due to the cooling of the melted core with water and the flow of rainwater and groundwater. In April 2011, Tokyo Electric Power Company, the operator of the nuclear power plant, deliberately discharged nuclear polluted water into the sea, which aroused great concern and concern in society. In December of the same year, TEPCO said that it had formulated a plan to discharge "low-concentration polluted water" into the sea.

　　In March 2013, TEPCO’s key facility "Multi-nuclide Treatment System" (ALPS) was put into trial operation, but since then, there have been many problems: frequent water leakage, and radioactive substances such as strontium in the treated water still exceeded the standard in 2018. In 2021, it was found that nearly half of the filter screen of the exhaust port for adsorbing radioactive substances was damaged & HELIP; …

　　Since ALPS was put into operation, Japan has called the treated nuclear polluted water "treated water". In fact, of the more than 1.34 million cubic meters of nuclear polluted water in the storage tank of Fukushima Daiichi Nuclear Power Plant, more than 1.33 million cubic meters have been treated by ALPS, but only about 30% have reached the standard of "treated water" defined by TEPCO, and the so-called "treated process water" that fails to meet the standard accounts for about 70%. Another 9,000 cubic meters of nuclear polluted water has not been treated by ALPS.

　　And how to solve the final destination of these "treated water"?

　　As early as December 2013, the Ministry of Economy, Trade and Industry, Japan’s nuclear energy authority, set up a working group to conduct technical discussions on the discharge of "treated water". In June 2016, the working group released a report saying that after the evaluation of five methods, such as ocean discharge, underground burial (adding cement and then burying it underground), stratum injection (injecting it into the depth of stratum by pipeline), steam release (vaporizing it into water vapor and discharging it into the atmosphere) and hydrogen release (electrolyzing it into hydrogen and discharging it into the atmosphere), it is the "lowest cost" method to dilute the "treated water" and discharge it into the sea.

　　This report set the tone for the later sea discharge plan, but it was strongly opposed by Japanese organizations such as agriculture, forestry and fisheries after its publication. Even Masayoshi Yoshino, then Japan’s minister of recovery, said that he opposed the treatment of nuclear pollution into the sea.

　　However, TEPCO and the Ministry of Economy, Trade and Industry have clearly regarded the sea-discharging plan as an "established policy". In July 2017, the Ministry of Economy, Trade and Industry held the "Local Coordination Meeting on Waste Furnace and Pollution Water Countermeasures" in Fukushima City, posing as a gesture of consultation with the local authorities. However, before the meeting, the then president of TEPCO, Takashi Kawamura, claimed to the media that TEPCO had "made a judgment" on discharging the sea, which caused widespread social dissatisfaction.

　　In order to convince the public, the Japanese government set up a committee with experts in related fields. In August 2018, the Committee held hearings in Fukushima and Tokyo, nominally to listen to the opinions of the people, but in fact it was to endorse the sea exclusion plan. At the hearing, Toyoda, then chairman of the Japan Atomic Energy Regulatory Commission, said that "discharging the sea is the only feasible option" was questioned by all parties. For example, in response to the problem of pollution water storage capacity and lack of open space raised by TEPCO, some people pointed out that 100,000-ton large-scale oil storage tanks can be considered, and the Fukushima Second Nuclear Power Plant, which has identified waste furnaces, can be used for open space. In view of the technical difficulty of nuclear pollution water treatment, it is suggested that the water vapor emission method used in the 1979 Three Mile Island nuclear accident in the United States can be adopted. It is also pointed out that the separation technology of radioactive element tritium which cannot be removed by ALPS is under study and should be discharged after the technology is mature and applied.

　　However, in February, 2020, the above-mentioned committee published a report saying that there are "many problems" in formation injection, underground burial and hydrogen release, and that sea discharge and steam release with precedents are the "realistic options", while emphasizing that sea discharge has "many benefits" over steam release.

　　In April 2021, the Japanese government unilaterally announced that it would discharge nuclear polluted water into the sea in 2023, ignoring domestic and foreign objections. Since then, the preparatory work for sea discharge has begun to advance in full swing: in December 2021, TEPCO submitted a construction plan for water discharge equipment to the Atomic Energy Regulatory Commission; In July 2022, the Atomic Energy Regulatory Commission approved the plan; On January 13 this year, the Japanese government confirmed that it will implement the sea discharge in the "spring and summer"; On June 26, TEPCO announced the completion of the construction of sea discharge equipment; On July 7, the Atomic Energy Regulatory Commission delivered the "Certificate of Acceptance" of the sea discharge facilities to TEPCO.

　　Self-directed and self-performed "authoritative certification"

　　On July 4th this year, Grossi, Director General of the International Atomic Energy Agency (IAEA), visited Japan and submitted a comprehensive assessment report on the disposal of nuclear polluted water in Fukushima to Japanese Prime Minister kishida fumio. According to the report, Japan’s sea-discharging scheme is generally "in line with international safety standards", so Japan claims that the safety of the scheme has obtained "authoritative certification".

　　However, there are many questions about the fairness and scientificity of this report.

　　First of all, the Japanese side first made a decision to discharge the sea, and then entrusted IAEA to make a safety assessment. Obviously, the purpose is not to find a scientific and reasonable solution, but to use the agency to endorse the sea discharge plan.

　　According to the contents of the report, after the Japanese government announced the decision to discharge the sea in April 2021, it signed an "authorization agreement" with IAEA in July of the same year to entrust "evaluating the safety of ALPS water treatment". The evaluation object is only limited to the sea discharge scheme and does not involve other schemes. This means that the evaluation conclusion cannot prove that the sea discharge scheme is the safest and most reliable scheme.

　　Secondly, before Japan officially authorized the IAEA evaluation, it had already started the relevant layout around the "certification card".

　　In April 2013, shortly after ALPS was put into trial operation, the Japanese government invited an IAEA delegation to Fukushima. The delegation released a report a month later, suggesting that Japan start to study the emission problem. At that time, the Director-General of IAEA was the Japanese Amano. In December 2019, Grossi succeeded Amano as the Director General of IAEA, and Japan continued to work for IAEA. In March 2021, Hiroshi Daiyama, then Japan’s Minister of Economy, Trade and Industry, held talks with Grossi, requesting the IAEA to provide support for Japan in eliminating the "reputation damage" caused by nuclear pollution water discharge. On April 14th of the same year, the day after the Japanese government announced its decision to expel the sea, Hiroshi Daishan met with Grossi again, requesting IAEA’s support in environmental monitoring and explaining to the international community.

　　"Tokyo News" reported that in the past, the Japanese government paid a huge share of expenses and other payments to the IAEA, and many departments of the Japanese government sent personnel to the IAEA. These factors will inevitably have an impact on the IAEA’s assessment of the safety of Japan’s nuclear pollution water discharge plan.

　　Members of the Common Democratic Party, the largest opposition party in South Korea, pointed out in a meeting with Grossi on July 9 that it is very regrettable that IAEA did not follow the principles of neutrality and objectivity, catered to Japan’s position of discharging nuclear pollution into the sea from beginning to end, and rushed to a conclusion regardless of the impact of this practice on neighboring countries.

　　Thirdly, at the beginning of the IAEA evaluation report, it is emphasized that the opinions in the report do not necessarily reflect the views of IAEA member States, and the report is not a recommendation or endorsement of Japan’s sea discharge plan, and IAEA and its member States are not responsible for any consequences caused by the report. This disclaimer clearly shows that the report cannot represent the opinions of the international community, nor can it prove the legitimacy and legality of Japan’s plan to discharge the sea.

　　Experts from China who participated in IAEA’s technical working group on the evaluation of Fukushima’s "ALPS treated water" for sea discharge — — Researcher Liu Senlin of China Institute of Atomic Energy told the media that the IAEA secretariat had asked for the expert opinions of the technical working group on the draft evaluation report, but the time window left for the experts was very limited, and the expert opinions were for reference only, so it was up to the IAEA secretariat to decide whether to adopt them. After receiving the feedback, the IAEA secretariat hastily released the report without discussing and negotiating with experts from all sides on the revision of the report and the adoption of opinions.

　　Li Song, China’s Permanent Representative to the United Nations and other international organizations in Vienna and Permanent Representative to the International Atomic Energy Agency, pointed out that the conclusion of the IAEA report on the safety of Japan’s sea discharge program is one-sided and lacks persuasiveness and credibility. Due to the limitation of authorization, the agency failed to assess the long-term effectiveness of the Japanese purification device, to confirm the authenticity and accuracy of the data of nuclear polluted water, to ensure that the international community can grasp the situation of excessive discharge in time, and to predict the impact of long-term accumulation and enrichment of radionuclides on the marine ecological environment, food safety and public health. "Without confirmation of accurate data, reliable equipment and effective supervision, it is impossible to draw the conclusion that it is safe to discharge more than 1.3 million tons of nuclear polluted water into the ocean within 30 years."

　　Pretending to be a show, worrying about integrity

　　The Fukushima Daiichi nuclear power plant has a marine life breeding room, which keeps the common flounder along the coast of Fukushima. One of the tanks is ordinary seawater, and the other is treated nuclear polluted water, which is called "treated water".

　　From a scientific point of view, experts and environmental protection organizations have many doubts about the nuclear pollution water treatment and other related data provided by TEPCO.

　　Professor ferenc Dalnoki-Veres, an expert in nuclear physics at Middlebury Institute of International Studies in the United States, pointed out that the data provided by Japan were "incomplete, incorrect, inconsistent and one-sided". The Japanese environmental protection group "FoE Japan" pointed out various problems in TEPCO’s statement about "treating water": some radioactive elements such as iodine 129 and strontium 90 still exceeded the standard after being "treated" by ALPS; The water samples detected by TEPCO so far only account for 3% of the stored polluted water, and the test results provided by TEPCO are not representative. The "treated water" in Fukushima is in direct contact with the melted core and cannot be compared with the normal nuclear power plant drainage … …

　　What is even more worrying is that TEPCO had a "black history" of tampering with data and concealing the safety of nuclear power plants.

　　On the third day after the Fukushima nuclear accident in March, 2011, TEPCO was able to judge the core meltdown of Units 1 to 3 according to the relevant data, but it was always whitewashed with "core damage" until two months later, when it admitted the core meltdown. TEPCO later admitted that it was intentionally concealing the truth according to the instructions of the then president. TEPCO once claimed that no new nuclear polluted water was discharged into the sea after June 2011, but with the exposure of a series of leakage incidents in 2013, TEPCO finally admitted that high-concentration nuclear polluted water leaked into the sea, saying that it was not announced in time because of fear of affecting the reputation of local fisheries; In September 2021, when TEPCO reported the damage of ALPS exhaust filter, it admitted that the same filter was damaged two years ago, but it was not reported, and the reason was not investigated. It was just a matter of replacing the filter. In October 2022, TEPCO was exposed to mislead visitors with a problematic radiation detector to prove the safety of "ALPS treating water".

　　Guan Guzhi, a scholar at the University of Tokyo, also pointed out that not only in Fukushima, but also in other nuclear power plants under TEPCO, management and safety problems are constantly occurring, which makes people unable to believe its disposal capacity. "Does TEPCO have this qualification to discharge into the ocean?"

　　The dishonesty of TEPCO and the Japanese government is also manifested in the attitude of reneging. The plan of discharging nuclear polluted water into the sea has been strongly opposed by local fishermen all over Japan, especially in Fukushima. Under this circumstance, TEPCO and the Japanese government assured the Fukushima Federation of Fishery Synergies and the Japan National Federation of Fishery Synergies in August 2015 that they would not discharge nuclear polluted water into the ocean until they were understood by fishermen and other relevant parties.

　　Although the Japanese government tried every means to convince the fishermen, it never succeeded. Since 2020, the Japan National Federation of Fishery Synergies and the Fukushima Federation of Fishery Synergies have passed special resolutions for four consecutive years, resolutely opposing the discharge of nuclear polluted water into the sea. However, regardless of opposition, the Japanese government and TEPCO violated their own commitments and insisted on promoting the sea discharge plan.

　　Yasushi Sakamoto, president of the National Federation of Fishery Cooperatives, said after meeting with Yasutoshi Nishimura, Minister of Economy, Trade and Industry, on July 14th this year that it is impossible to change the opposition position as long as we are not at ease with emissions. After exchanging views with Yasutoshi Nishimura on 11 July, Nozaki Tetsuo, president of Fukushima Fisheries Cooperative Association, stressed that the fishermen could not tolerate the discharge of nuclear polluted water into the sea, in contrast to the government’s promise of "no disposal" without the understanding of relevant parties.

　　Point the deer at the horse and pretend to be false.

　　Faced with the strong opposition at home and abroad to the discharge of nuclear polluted water into the sea, the Japanese authorities launched an intensive public relations campaign to confuse the audience and publicize the "safety theory of nuclear polluted water" as a key point of Japanese diplomacy.

　　Japanese Ministry of Foreign Affairs, Ministry of Economy, Trade and Industry, Reconstruction Agency and other government departments have set up special links on the homepage of official websites to promote the safety of ALPS "water treatment". The social media accounts of the Ministry of Foreign Affairs and the Ministry of Economy, Trade and Industry also put relevant promotional videos at the top or in a prominent position, and launched multilingual versions.

　　Japan holds the rotating presidency of the Group of Seven (G7) this year. During the G7 Climate, Energy and Environment Ministers’ Meeting in April this year, Japanese Minister of Economy, Trade and Industry Yasutoshi Nishimura declared at the press conference that "including ‘ Treated water ’ The steady progress of waste furnace work, including discharging into the sea, was welcomed. As a result, German Environment Minister Lemcke said on the spot that "discharging (nuclear polluted water) into the sea is not welcome". The Japanese side originally tried to insert "Welcome to the transparent process of discharging the sea" into the joint communique of the meeting to show "international recognition". This statement was opposed by Germany, but the Japanese side still used the host status to write "Welcome … … Japan and IAEA’s transparent efforts based on scientific evidence "and" supporting IAEA’s independent review ". The same content later appeared in the joint communique of the leaders of the Hiroshima Summit of G7 in May.

　　The Japanese side also launched a public relations offensive against Pacific island countries. These island countries suffered greatly from the nuclear test of the United States in the Pacific Ocean in the past, but now there is a strong opposition to the discharge of nuclear polluted water from Fukushima, which has become the key "appeasement" object of Japan. According to the report released by the Ministry of Economy, Trade and Industry on July 31, Japan has conducted "explanation work" for all members and regions of the Pacific Island Forum since February this year.

　　The Japanese side also frequently held briefing sessions for diplomats and foreign journalists from various countries in Japan, and tried every means to publicize the "safety" of nuclear polluted water discharging into the sea. In Japanese explanations, especially in foreign language versions, "treated water" is generally used to refer to nuclear polluted water, with the intention of diluting its pollution characteristics and potential harm to confuse people. According to some foreign journalists in Japan, once there is any content in their reports that questions the safety of nuclear polluted water discharge, TEPCO and Japanese officials will call and write to put pressure on it.

　　It is worth noting that according to the IAEA’s safety regulations on the discharge of radioactive materials into the environment, authorization for the discharge of radioactive materials should provide information and consultation to the affected stakeholders. "Some interested parties may be in other countries, especially neighboring countries." However, in the face of opposition and doubts from neighboring countries, the Japanese side did not communicate sincerely, but made a mistake and slandered the legitimate concerns of regional countries about the marine environment and food safety as "playing political cards." Some right-wing media in Japan even dressed Japan as a "victim" and angrily threatened to "counter" neighboring countries that raised objections to the discharge of nuclear polluted water into the sea.

　　On July 4th, the Embassy of China in Japan expounded China’s position on the issue of Fukushima nuclear polluted water being discharged into the sea, pointing out that Japan’s so-called "hope for dialogue and consultation with China" was insincere. So far, China has carried out exchanges with Japan in bilateral and multilateral channels and repeatedly expressed the opinions and concerns of professional departments. However, regardless of China’s position, Japan insists on promoting sea discharge according to the established timetable. "If the Japanese side regards sea exclusion as the premise of consultation and blindly imposes sea exclusion on China, what is the significance of such consultation?"

　　The discharge of Fukushima nuclear polluted water into the sea is not a private matter or a trivial matter of Japan, but a business matter and a major event related to the marine environment and human health. The Japanese government ignored the legitimate concerns of the international community, violated its due international obligations, and forced nuclear pollution water into the sea, endangering the marine environment and human health and infringing on the legitimate rights and interests of neighboring countries. It is by no means a responsible country.

　　recent days

　　Many disease control departments have issued reminders:

　　Winter is the most common season for chickenpox.

　　The disease is highly contagious.

　　The key to prevention is vaccination against varicella.

　　This is also the most economical and effective measure.

　　Chickenpox is known as "face to face biography"

　　Kindergartens and primary schools are prone to collective outbreaks.

　　Chickenpox is an acute respiratory infectious disease characterized by a rash caused by the initial infection of varicella-zoster virus.

　　The disease is highly contagious, and people are generally susceptible to chickenpox. About 90% of susceptible people get sick after contacting patients, commonly known as "face-to-face transmission", which is easy to cause outbreaks, especially in infants and school-age children.

　　Chickenpox has an acute onset, with symptoms such as fever, headache, fatigue, nausea and vomiting in the prodromal stage. After 1-2 days, a rash appears, with more on the trunk, less on the limbs, head and face, and less on the palms, soles and oral mucosa, which can be differentiated from hand, foot and mouth disease. Can be secondary to bacterial infection, pneumonia, encephalitis, hepatitis and other complications.

　　Chickenpox is a self-limited disease with a natural course of 7-10 days. After the disease, it can gain lasting immunity. Isolation treatment should be carried out after the illness, until the chickenpox and herpes are all dry and scabbed, or not less than one week after the illness.

　　Life-long immunity can be obtained after illness, sometimes the virus remains in the ganglion in a static state, and herpes zoster occurs after years of infection recurrence.

　　Vaccinate against chickenpox

　　Is the most effective means of prevention.

　　1. Vaccination can effectively prevent varicella caused by varicella-zoster virus infection. The main target of vaccination is susceptible to varicella at the age of 12 months and above. Generally, vaccination for about 2 weeks can play a protective role.

　　2 to carry out monitoring, strengthen the morning and afternoon inspection, kindergartens and schools found suspicious children should immediately take measures such as isolation, medical treatment, disinfection of supplies. Clear isolation period should be until all patients with varicella and herpes are dry and scabbed.

　　3. Teachers and staff should maintain good personal hygiene, and classrooms and dormitories should be well ventilated.

　　4. Clean and disinfect toys, personal hygiene products (cups, towels, etc.) and tableware; Disinfect activity rooms, bedrooms, classrooms, door handles, stair handrails, desktops, bathrooms, etc.

　　5. Publicity and education; Use radio, blackboard newspaper, gallery and other forms to publicize the knowledge of prevention and treatment of respiratory diseases and improve students’ awareness of self-protection.

　　Jiangsu can be vaccinated with varicella vaccine for free.

　　Chickenpox is an infectious disease caused by varicella-zoster virus, which can occur all year round and is highly contagious. In recent years, routine monitoring of infectious diseases shows that public health emergencies related to chickenpox account for more than 80% of all public health emergencies related to infectious diseases, and all of them occur in kindergartens and schools, seriously affecting children’s health and normal teaching and living order. At the same time, the chickenpox epidemic in kindergartens and schools is easy to spread to communities and families, resulting in a wider spread.

　　In order to effectively reduce the incidence of chickenpox, reduce the occurrence of public health emergencies caused by chickenpox, and prevent the cluster epidemic of chickenpox, with the consent of the provincial government, since January 1 this year, Jiangsu Province has included live attenuated chickenpox vaccine in children’s immunization program, and school-age children can be vaccinated with 2 doses of live attenuated chickenpox vaccine for free.

　　Routine immunization procedures are as follows:

　　The first dose was inoculated at the age of 12 to 18 months, and the second dose was inoculated at the age of 4. The interval between two doses of indirect inoculation is not less than 3 months.

　　All school-age children born after January 1, 2017, who are included in the management of Jiangsu Children’s Vaccination Information System and have lived for more than 2 months can be vaccinated free of charge.

　　Parents can bring their children to the vaccination clinic of the local community health service center for an appointment.

　　Synthesis: Jiangsu CDC and Nanjing CDC.

Every time you get a ticket, you have to go to the tax service hall.

The journey takes a long time.

Also bring the tax controller, ID card and special seal for invoice.

It’s easy to leave things behind if you’re not careful

Now these troubles can be solved.

Since June 1, 2020

Beijing Economic Development Zone Taxation Bureau

It will be a normal ticket-using enterprise in the region.

Provide through the "e-ticket delivery" mode

Free mail delivery service for receiving invoices

Yifen

How to operate this "ticket e delivery"?

Xiaoye

Xiaoye has prepared a detailed tutorial for everyone. Let’s take a look!

Detailed operation manual of "ticket e delivery"

"Ticket e-delivery" is a convenient service project of online invoice collection launched by logistics service unit entrusted by Beijing Taxation Bureau of State Taxation Administration of The People’s Republic of China. It aims to solve the problems of long journey, long time-consuming and difficult queuing for taxpayers to go to the tax service hall, and realizes the one-stop invoice collection service of "online application of taxpayers, automatic processing on cloud platform, and limited logistics delivery to the door".

one

"e-ticket delivery" feature

1. All year round, 365*24 hours service;

2. Express delivery to your door within 24 hours;

3. Coverage of the whole city, which can be delivered in Beijing area;

4. tax express through train, unlimited number of non-traffic jams;

5. Professional support team, 24-hour service hotline 4006289911 to provide follow-up guarantee;

two

Ticket e delivery qualification requirements

1. The tax registration status is business;

2. VAT taxpayers (except taxpayers who declare VAT on a per-time basis and general VAT taxpayers during the counseling period);

3. It has been included in the upgraded version of the VAT invoice system;

4. There is no internal investigation information about invoices;

three

Ticket e delivery invoice type

Five categories and seven versions of invoices can be applied for online: "two-copy and five-copy versions of general VAT invoices, three-copy and six-copy versions of special VAT invoices in Chinese, unified invoices for motor vehicle sales (computer version), roll-type invoices for taxi passengers and electronic general VAT invoices".

four

Application for online ticket collection qualification

1. Taxpayers log in to State Taxation Administration of The People’s Republic of China Beijing Electronic Taxation Bureau.

2. Click Login, enter State Taxation Administration of The People’s Republic of China Beijing Electronic Taxation Bureau, and click the "Invoice Use" module under the "I want to do tax" directory.

3. Taxpayers enter the "invoice collection" and click the "invoice distribution (e-delivery)" button to enter the "e-delivery" qualification application page (note: if you are qualified to apply for invoices online, you will directly enter the invoice application page, otherwise you will enter the online invoice application qualification application page).

4. You need to submit a qualification application for the first use. Fill in the real contact person and mobile phone number, and confirm that "our company (or individual) confirms to voluntarily use the" ticket e-delivery "service", and click the submit application button.

five

Steps to apply for invoices online

1. Taxpayers enter State Taxation Administration of The People’s Republic of China Beijing Electronic Taxation Bureau;

2. Select "Invoice Business" in the navigation bar and click "Invoice Distribution (Ticket E Delivery)" to enter the "Ticket E Delivery" page;

Step 3 fill in the application form

Enter the invoice application page and click the "New Application" button on the right side of the page.

Note: This button will only appear after the last invoice application order has been accepted successfully.

The application form is as follows. You need to fill in the number of applications, the name of the ticket holder, the mobile phone number, the location, the detailed address and the postal code. Among them, the number of applications must be an integer multiple of 5 and cannot be greater than the number of applications.

After filling out the application form, click the "Save" button. The table can be modified before it is submitted again.

4. Submit the application form

Please submit this application form when you are sure that the information filled in is correct. ("Submit" button in the action bar of the list page) After the submission is successful, please wait for the tax authorities to accept your application.

When submitting, you need to check the "Ticket E Delivery" service use confirmation form, otherwise it cannot be submitted.

5. Print the bill receipt

When the "Business Status" changes to "Package Picking Completed, Delivery Started", you can print the "Invoice Receipt Form for Online Collecting of Beijing Taxation Bureau" through the button in the operation bar of the page. The printed bill receipt needs to be stamped with official seal or special seal for invoice. When distributing the invoice, you need to receive the ticket with this receipt.

6. Sign the physical invoice

The delivery staff will contact you through the mobile phone number when submitting the application. When signing, please show the Invoice Receipt Form for Online Receipt of Invoice from Beijing Taxation Bureau, and check the invoice code and invoice number of the physical invoice. After confirmation, please give the stamped ticket receipt to the delivery staff.

END

This article was published by Yizhuang, Beijing.

Please indicate the source for reprinting.

The news comes from Beijing Economic Development Zone Taxation Bureau.

Original title: "From June 1st, tax invoices can be delivered home free of charge without queuing"

Read the original text

　　[PConline first evaluation]This generation of Turing graphics card is rarely divided into two series by NVIDIA, one is RTX 20 series graphics card which focuses on ray tracing and is aimed at higher-end players, and the other is GTX 16 series which is relatively cost-effective. The first shot of GTX 16 series was started by GTX 1660 Ti as early as last month. Its price in the early 2000 yuan is more than 30% ahead of GTX 1060, and its performance is really cost-effective. Today, GTX 16 series welcomes a new member. GTX 1660 has no Ti, so today, let’s take a look at whether the performance of GTX 16 series is satisfactory.

　　For Turing architecture graphics cards, everyone should be familiar with it. It has been half a year since the first Turing architecture graphics card RTX 2080 Ti was released. Compared with Pascal’s, SM of Turing GPU architecture has been greatly changed, reducing the number of CUDA cores in Turing SM units to 64 (Pascal is 128), but increasing the number of SM units. TU102 has 6 GPC graphics processing clusters, each with 12 groups of SM units, totaling 72 groups of SM units, while GP102 has 36 groups of SM units, and at the same time increasing the cache of each group of SM units. L0 cache is added, and L1/ shared cache is increased to 96KB, which seems to be reduced, but the allocation method is more flexible. When necessary, L1 cache is allocated to 64KB, which is 50% higher than Pascal graphics card’s 48KB.

　　For the technical analysis of product detailed analysis, you can also jump here to consult.https://diy.pconline.com.cn/1172/11720764.htmlcheckread

　　However, the Turing core used in GTX 16 series and RTX 20 series is still slightly different.

　　GTX 1660 Ti and GTX 1660 useThe redesigned TU116 coreTU116 has reduced the SM unit of GPC to 8 groups per cluster, while the core of RTX 20 series graphics cards is 12 groups. The complete TU116 core has 3 sets of GPC, including 24 sets of SM and 1536 CUDA stream processors, which is also the specification of GTX 1660 Ti, while the TU116-300 core used in GTX 1660 only castrates two sets of SM, and the number of stream processors reaches 1408.

　　In addition, RTX series graphics cards use FP16 to calculate Tensor Core, while TU116 replaces tensor Core with a dedicated FP16 computing Core.

　　Another castrated place is memory. GTX 1660 uses GDDR5 memory of the same model as GTX 1060, and the memory frequency is far less than GDDR6.

　　Detailed parameters of GTX 1660 are as follows.

　　Parameter comments:The number of GTX 1660 CUDA stream processors is 1408,It is 128 less than GTX 1660 Ti, but it will still be 128 more than GTX 1060.

　　GTX 1660 still uses GDDR5 video memory, which means that the graphics cardThe bandwidth of video memory is the same as GTX 1060, which is 50% lower than GTX 1660 Ti.

　　The core frequency of the public version is 1530-1785MHz, which is slightly higher than GTX 1660 Ti. 　

　　The TDP of the graphics card is still 120W, which means that the power consumption of the graphics card is not much different from that of GTX 1060.

　　Official guide price of GTX 1660Starting from 1799 yuan, 400 yuan less than GTX 1660 Ti, and 200 yuan less than GTX 1060 when it was first launched, so is the graphics card worth it? Just look down.

　　Let’s go directly to the testing link. Before testing, let’s briefly introduce the testing platform.

　　Since there is no public version of GTX 1660 Ti, this time we first got the Galaxy Gemini, namely GTX 1660 Master and GTX 1660 General. In the end, GTX 1660 will be appointed as the test graphics card. The core frequency of the graphics card is 1530-1830MHz, and the BOOST frequency is 45MHz higher than that of the public version. In theory, the performance will be 1~2% higher than that of the public version.

　　Many factors have been considered in the selection of the graphics card that participated in the comparison. From the specifications, we know that the performance of GTX 1660 is definitely between GTX 1660 Ti and GTX 1060 6GB, so these two graphics cards will definitely be used as a comparison. GTX 1060 6GB uses the public version, and GTX 1660 Ti also takes a model with the same frequency as the public version, just consider it as a public version.

　　AMD’s competing products chose RX 590 with the same performance between GTX 1060 and GTX 1660 Ti. Here, the 8 GB version of ASUS ROG STRIX RX 590 is used, and the public version frequency. In fact, the frequency difference of RX 590 on the market is very small, and the performance can’t be opened.

　　It is also stronger than GTX 1060 and weaker than GTX 1660 Ti, so who is better than GTX 1660 or RX 590? Let’s reveal it below.

　　As for the CPU, I 9-9900K, the strongest game CPU, is selected with two 8GB 3200MHz high-frequency memories to ensure that other hardware of the platform will not become the test bottleneck.

　　If you don’t accept it, run a score first. In addition to our commonly used Fire Strike Extreme and Fire Strike Ultra tests, there is also Time Spy for DirectX 12 benchmark performance test of game PC.

　　Summary of theoretical performance test: I don’t know, I was shocked at the test, but I didn’t expect it to be justCastrated two groups of SM units and switched to GDDR5 memory, which can reduce the FSE of Turing graphics card by nearly 1500 points!The FSE and running score of GTX 1660 are basically the same as the public version of GTX 1060 6GB, and the FSU running score is even worse, but fortunately GTX 1660 regained a city in TS running score, surpassing GTX 1060 6GB by 29%.

　　The comprehensive running score of GTX 1660 is only 7% higher than that of GTX 1060 6GB.This promotion … is … equivalent to nothing?There is also a 20% performance gap from the big brother GTX 1660 Ti.It seems that switching to GDDR5 memory is still very painful. So is GTX 1660 such a weak chicken in the game measurement? Is it a non-public GTX 1060 6GB? Let’s measure and verify it immediately.

　　This time, we expanded the lineup of evaluation games, and the number of games tested reached nine, mainly the latest and most popular 3A masterpieces, such as Assassin’s Creed: Odyssey, Subway: Leaving, Resident Evil 2 Remastered Edition, as well as classic old games, Wizard 3 and Survival of the Jedi, which made the test results more objective and convincing.

1. Tomb Raider: Shadow

　　Unconsciously, Laura has been with us for 20 years, and has developed into the 11th generation. Today, she has been able to support all kinds of latest, true and most eye-catching graphics technologies. It should be noted that Tomb Raider 11 is a game that natively supports DX12.

2. Assassin’s Creed: Odyssey

　　Assassin’s Creed: Odyssey is the 11th work in the Assassin’s Creed series, which was created by Ubisoft. In the game, players will return to ancient Greece and play a mercenary with Spartan ancestry who was sentenced to death by his family, thus starting an epic journey from a young abandoned man to a legendary hero. The game’s plot design and image quality are very brilliant, and it is a strong competitor for the best game of the year in 2018.

3. Strange Squad

　　"Strange Squad" was a game that went on the market at the end of August last year. The PC started and supported DX12 perfectly, and the Steam list was highly rated.

4. "Singularity Ash"

　　Microsoft’s personal work to promote DX12 API perfectly supports all the effects of DX12. Benchmark optimization is in place, and it is also very suitable for testing DX12 performance and graphics performance of graphics cards.

5. Resident Evil 2 Remastered Edition

　　Capcom’s latest fried cold rice, the sales volume of the game reached 3 million in just a few days, which was very popular among players. The test is based on the gas station scene at the beginning of Lyon, and the test results are recorded by running laps for 60 seconds. The game defaults to DX12 mode.

6. Battlefield V

　　Battlefield V is a hot game recently, not because it is fun, but because it is the only game that supports ray tracing on the market at present, and it is also a game promoted by NVIDIA. War stories, an African-American infantryman, was chosen as the first 30s in the test scenario, and DX11 mode was chosen in the test, because the number of game frames in DX11 mode was higher for both A card and N card.

7. "Wizard 3"

　　Super classic AAA masterpiece, needless to say. The field scene was selected for the test, and the horse rode on a fixed route for about 60 seconds to record the results.

8. Subway: Leaving

　　Although I didn’t log in on steam, Subway: Leaving is still a good game. The most amazing thing about it is its excellent picture quality. This game is also the first game with ray tracing, DLSS and Hairworks installed.

　　Because of the excellent picture quality, the game became a graphics card killer, and the number of frames of the tested graphics card was extremely low at 1080p resolution, so the test used high picture quality, not the ultimate picture quality.

9. Survival of the Jedi

　　A historic game with a record sales volume, the game of Jedi survival does not need much introduction.

　　Summary of game performance test:In order to let everyone see the performance gap between each graphics card more intuitively, Xiao Bian takesThe comprehensive performance of GTX 1060 in the above nine games is 100%., get the following chart.

　　At the resolution of 1080p, GTX 1660 can achieve 16% higher frame rate than GTX 1060, which is a big lead. Compared with competing RX 590, the performance of game frames is basically the same, but there is still a 17% gap between the graphics card and the big brother GTX 1660 Ti.

　　Because the video memory bandwidth of GTX 1660 is the same as that of GTX 1060 6GB, the gap between them is the same at 2K resolution. The gap between GTX 1660 Ti and the video memory bandwidth is naturally widened to 20%, which is also surpassed by RX 590.

　　The measured performance of the new card is still good, which is 17% stronger than GTX 1060 and basically consistent with RX 590.

　　Since it is impossible to test the power consumption of a piece of hardware alone,So the following are the power consumption of the whole machine.When the graphics card is fully loaded, the peak power consumption of the whole machine in 3DMark stress test is selected.

　　The graphics card basically maintains the same power consumption as GTX 1060 6GB, but reaches the performance of RX 590. Turing architecture +12nm technology makes the energy consumption of N card reach a new level, and the power consumption of GTX 1660 is about 130W lower than that of RX 590, which has obvious advantages.

　　Next, let’s take a look at the temperature, stability and noise performance of the Galaxy GTX 1660. These tests are related to the design skills of the manufacturer’s graphics card. Even if the same chip, different models will be very different.

3DMARK stress test results:

　　In 3DMark stress test, 97% passed,Finally, the graphics card passed the test with 97.8%, indicating that the stability of the graphics card is no problem. Graphics card in stress testThe highest instantaneous frequency is 1920MHz.This is also the characteristic of N card. The actual BOOST frequency will be much higher than the nominal frequency. Click on the image to enlarge to see the specific value.

　　By the way, I summed up the stability results of the participating graphics cards, and the performance of the Galaxy GTX 1660 is still good.

Temperature test

　　In fact, the 3DMARK stress test just now also showed this temperature performance. The temperature environment of the four graphics cards in this test is exactly the same.

　　The full-load temperature of the graphics card is not high, only 69℃.

Noise test

　　The full-load noise is only 47dB, which is basically inaudible, thanks to the new satellite obsidian radiator.

About noise:

　　0-20 decibels: very quiet, almost imperceptible; 20-40 decibels: quiet, like whispering; 40-60 decibels: general indoor conversation; 60-70 decibels: noisy: harmful to nerves; 70-90 dB: It is noisy and nerve cells are destroyed. 90-100 decibels: increased noise and hearing loss; 100-120 decibels: unbearable, temporarily deaf after staying for one minute. Above 120 decibels: extremely deaf or totally deaf; About 300 dB or above: 20km of people in Fiona Fang are irreparably deaf.

　　Finally, it is inevitable to sum up. First, a performance percentage chart is put forward, which combines the results of four graphics cards in 1080p resolution, 2K resolution and 3DMARK theory running score test. This comprehensive performance is still very important. After all, we can’t test all the games on the market, but we can get a general idea of the comprehensive performance of graphics cards in all games by combining the game performance and running score.

　　The comprehensive performance of GTX 1660 is 11% stronger than that of GTX 1060 6GB, and the performance gap is really a little small, which is 6% lower than that of competing RX 590. This is mainly because the two 3DMARK scores of GTX 1660 are so weak that the possibility of bug follow-up driving or 3dmark optimization cannot be ruled out. However, GTX 1660 Ti has been released for more than a month, which does not necessarily mean that FSE and FSU have much improvement. Can it be said that NV?

　　The performance of the graphics card is 19% worse than that of GTX 1660 Ti. Under the castration of the yellow knife method, the graphics card class of each model of N card is very fixed.

　　It is reported that GTX 1660 is the graphics card that replaces GTX 1060 6GB. It is a good thing that the inventory of GTX 1060 is finally cleared after so long.

　　The starting price of the new graphics card is 1799 yuan, which is almost the same as the starting price of GTX 1060 6GB after the mine disaster. That is to say, after two or three years, the performance of the graphics card bought by consumers with the same money is only 11~17% higher, which is far from meeting the expectations of consumers. Therefore, it is reasonable to say that the price of GTX 1660 card will continue to be reduced to around 1500 to replace GTX 1060 3GB.

GTX 1660 is a product with general competitiveness.

　　Is GTX 1660 very competitive in the market? There should be a question mark on xiaobian here. The performance of graphics card is basically the same level as RX 590, and the price is similar. At that time, RX 590 was still cost-effective because GTX 1060 sold for 1900~2100 when it came out. Now GTX 1060 has dropped to 1600~1800, and RX 580 even dropped to 1500, so the competitiveness of GTX 1660&RX 590 products is much weaker.

　　Compared with competing products at the same price, it may also be a competitor RX 590 for a long time in the future. Their performance is basically at the same level, and the bigger difference lies in other aspects.The advantage of GTX 1660 lies in its lower power consumption, which is about 140W lower than that of RX 590, which can save a lot of money on purchasing power supply and optimize the user experience in noise and heat accumulation in the chassis, while the advantage of RX 590 lies in the additional 2GB of video memory.

　　6GB of video memory is enough for playing 1080p resolution games, but playing 2K resolution games may lead to the explosion of video memory in very few games. However, in terms of the performance of these two graphics cards, it is more suitable for playing 1080p resolution games.

　　So, if you have to choose between the two,At the same price, GTX 1660 is more worth buying.And it is necessary for RX 590 to further reduce its price to maintain its competitiveness. At present, GTX 1660 wins!

　　In fact, the comparison between GTX 1660 and RX 590 is the repetition of GTX 1060 VS RX 580, which is basically the same in performance, low in power consumption of N card and larger in memory of A card.

　　Xiao Bian believes that,Graphics cards with the same materialsRX 590 is at least 100 yuan cheaper than GTX 1660, so it is worth considering which one to buy. For example, the beggar version of GTX 1660 sells for 1799, so the beggar version of RX 590 should sell for 1699.

　　This time we got the Gemini GTX 1660 Master and GTX 1660 General from Galaxy.

　　GTX 1660 is priced at 1799 yuan, while GTX 1660 uses better materials and has higher frequency, and the price naturally rises, reaching 1899 yuan.

　　Evaluation we use the GTX 1660 general, and the appearance of the graphics card is mainly blue and black, which is more eye-catching.

　　The brand-new Star Yao radiator stabilized voltage TU116-300 core, in the above evaluation, we also saw the power of this radiator.

　　The graphics card has a large-area backplane, which can assist heat dissipation and strengthen the strength of the graphics card. The whole graphics card is not thick, and it is designed for a standard 2-slot card.

　　The video output interface is 1dp+1dmi+1dvi with rich interfaces.

　　　　The measurement is 246*135*43mm, and the external power supply is 6pin, so the graphics card has good adaptability.

　　There are RGB lights on the top of the graphics card, which is full of e-sports.

　　Next, let’s take a look at the inside of the graphics card.

　　Electrical components with orderly layout.

　　High-definition codeless TU116-300 core.

　　GDDR5 memory produced by magnesium light.

　　4+1 phase power supply, which helps higher frequency on the graphics card.

　　Let’s take a look at the Xingyao radiator used in the graphics card, two 6mm nickel-plated heat pipes and nickel-plated fins, which are quite sufficient in materials.

　　The part in direct contact with GPU uses a large area of pure copper base, no wonder the graphics card is so low temperature.

　　Let’s take a look at what the non-public GTX 1660 looks like.

Colorful iGame GTX 1660 Ultra

　　GTX 1660, produced by Colorful, a graphics card manufacturer, has the same appearance as iGame GTX 1660 Ti Ultra, and the highest core frequency is 1860MHz.

Sotai GTX1660-6GD5 Destroyer OC HA

　　The MINI has a big heart, and the BOOST frequency of the graphics card core reaches 1805MHz, which is suppressed by double heat pipes and powered by 4+1 phases.

Gigabyte GeForce GTX 1660 OC

　　The cool and low-key appearance, although not the high-end model under AORUS, already feels very good.

MSI GTX 1660

　　There are many GTX 1660 models launched by MSI. Let’s count them one by one.

　　GeForce GTX 1660 AeroITX 6OGOC with single fan design is suitable for small chassis.

　　GeForce GTX 1660 Armor 6OGOC with high cost performance.

　　A new generation of magic dragon GeForce GTX 1660 GAMING X 6G to replace the classic Red Dragon series.

　　Geforce GTX 1660 Ventures XSC 6OC, which is relatively close to the people.

Gengsheng GTX 1660

　　Gengsheng also brought two non-public graphics cards.

　　The design of GTX 1660 glare radiator is very special.

　　Gengsheng GTX 1660 chasing the wind version, the red and black color matching is very e-sports.

Yingzhong GTX 1660 Black Gold Extreme Edition

　　The design of the MINI with the same body, coupled with the excellent power consumption performance of GTX 1660, Yingzhong GTX 1660 will definitely become the gospel of ITX lovers.

　　So many GTX 1660′ s are estimated to be messy. The evaluation of these graphics cards is also in progress. If you want to know which GTX 1660 is better, just keep paying attention to us.

A few days ago, the the State Council executive meeting deployed measures to increase the basic living security of the people in need, so as to secure the bottom line of people’s livelihood.

At the regular briefing on the State Council policy held by the State Council Office on August 26th, Yang Yinkai, deputy secretary general of the National Development and Reform Commission, introduced that from September this year to March next year, the linkage mechanism of price subsidies will be adjusted in stages, and the policy of "expanding the scope of protection and lowering the starting conditions" will be implemented, so as to increase the price subsidies for the needy people and effectively grasp the bottom line of people’s livelihood. It is estimated that the policy will cover 67 million people after the expansion.

One-time living allowance will be issued to people with difficulties such as the minimum living allowance, which will be fully completed by the end of August.

Since the beginning of this year, the bottom-up safeguard measures have been continuously improved, and the assistance to the people in need has also increased. By the end of June this year, 40.62 million people had received assistance from urban and rural residents, including 7 million urban residents and 33.62 million rural residents. The national urban minimum living standard is 734 yuan per person per month and the rural minimum living standard is 554 yuan per person per month; In the first half of this year, the accumulated expenditure on subsistence allowances was 92.62 billion yuan.

In order to implement the requirements of "expanding the minimum living allowance and increasing efficiency", the civil affairs department has continuously improved the minimum living allowance system. Liu Xitang, director of the Social Assistance Department of the Ministry of Civil Affairs, said that seriously ill and severely disabled people in marginal families have been included in the subsistence allowance alone, forming a combination of household insurance and personal insurance, and the system has more capacity; Encourage all localities to decentralize the examination and confirmation authority of subsistence allowances from the past counties to streets and towns to improve the efficiency of examination and verification; In addition, for low-income families whose per capita income exceeds the local minimum living standard after employment, a gradual retirement period of six months to one year will be given.

The temporary assistance system is mainly aimed at solving the sudden, urgent and temporary basic living difficulties encountered by urban and rural people. Since the beginning of this year, affected by epidemic and disaster, the number of people in need has increased. A few days ago, the the State Council executive meeting requested that the one-time living allowance issued to the needy people such as the minimum living allowance should be paid in place as soon as possible.

Residents, including migrant workers, who are unable to return to work due to the epidemic, have no income for three consecutive months, and are not included in unemployment insurance, can apply for a one-time temporary relief fund at their place of residence or domicile. Liu Xitang said that the work is progressing smoothly. Seventeen provinces in the country have all paid out, and all localities have issued an additional subsidy of 8.08 billion yuan for 40.18 million low-income recipients and extremely poor people, accounting for 90% of the total number of people in need. "It is expected that the work will be fully completed by the end of August, and the total amount of funds distributed is expected to be close to 10 billion yuan."

This year, the central government allocated 154.68 billion yuan to help the needy, an increase of 7.06 billion yuan over last year, and the local budget also increased investment accordingly. In the first half of the year, the national financial expenditure totaled more than 120 billion yuan, up 7% year-on-year.

Liu Xitang said, "Social assistance funds such as subsistence allowances are the focus of people’s livelihood security, and they are also the focus of financial support. It is no problem to implement special fund management and timely and fully distribute social assistance funds such as subsistence allowances."

The linkage mechanism of price compensation expands the scope of protection and reduces the starting conditions, which is expected to benefit about 9 million more people.

From January to July this year, China’s consumer price index (CPI) rose by 1.8% year-on-year, and rose by 2.7% year-on-year in July. Yang Yinkai said that due to factors such as imported inflationary pressure and seasonal increase in pork prices, the domestic price level may be slightly higher than that of the previous months in the latter months of this year to the first quarter of next year, which is lower than that of cardinal utility in the same period last year.

In order to alleviate the impact of rising prices on the basic livelihood of people in need, the linkage mechanism of price subsidies will be adjusted in stages from September this year to March next year.

After the adjustment, the scope of protection has been expanded. The current linkage mechanism of price compensation covers seven groups, including urban and rural minimum living allowances, destitute people, people receiving unemployment insurance benefits, special care recipients enjoying regular state pension subsidies, orphans, children who are actually left unattended and children infected with HIV, totaling about 58 million people.

On the basis of the above-mentioned seven groups, this time, two groups, namely, people receiving unemployment benefits and marginal population with minimum living allowance, will be added into the scope of protection of the linkage mechanism of price compensation. After expanding the scope of protection, it is expected to benefit about 9 million more people and cover about 67 million people in need. Conditional places can further expand the scope of protection.

Wan Jinsong, director of the Price Department of the National Development and Reform Commission, introduced that the people receiving unemployment benefits and the marginal population with low living allowances will be included in the scope of protection in stages, mainly considering that the people receiving unemployment benefits are unemployed, their income sources are unstable, and their lives are facing certain difficulties; Although the income of the marginal population is slightly higher than the minimum living standard, the living standard is generally low.

After adjustment, the starting conditions are reduced. The monthly year-on-year increase of CPI in the starting conditions of the price subsidy linkage mechanism was reduced from 3.5% to 3.0% in stages, while other starting conditions such as issuing price subsidies when the food price in CPI rose to 6% year-on-year, were kept unchanged, and the price subsidy linkage mechanism was started when any conditions were met.

"Reducing the start-up conditions is mainly due to the impact of epidemic situation and disasters. The income growth of people in need faces more difficulties, and the feeling of rising prices may be more obvious." Wan Jinsong said that after lowering the starting conditions, it is expected that the number of months and the starting area of the price subsidy linkage mechanism will increase significantly, which means that more people in need can receive price subsidies.

All localities will grant temporary price subsidies of about 20 billion yuan to people in need.

According to statistics, since 2020, local governments have distributed temporary price subsidies of about 31.5 billion yuan, benefiting 530 million people in need.

After adjusting the linkage mechanism of price subsidies in stages, it is estimated that from September this year to March next year, all localities will provide temporary price subsidies of about 20 billion yuan to the needy, of which about 7 billion yuan will be increased due to expanding the scope of protection and lowering the starting conditions.

Where does the additional funds come from? According to reports, the additional funds for those who receive unemployment insurance benefits and unemployment subsidies are paid from the unemployment insurance fund; The central government will provide subsidies to other needy people in different regions, including 30% in the eastern region, 60% in the central region and 80% in the western region.

"Temporary price subsidies are issued by the local authorities first and settled by the central government." Wan Jinsong said, in the current situation that governments at all levels are living a "tight life", the state still decided to adjust the linkage mechanism of price subsidies in stages and increase the price subsidies for the needy people, which fully demonstrated that the CPC Central Committee and the State Council always cared about and cared about the needy people, and always placed the protection of their basic livelihood in a prominent position.

Yang Yinkai said that the National Development and Reform Commission will work with relevant departments to strengthen work guidance, ensure that all the work of price subsidies is carried out in an orderly manner, and ensure that policy deployment can be fully implemented. (Reporter Lu Yanan)

　　The the Political Bureau of the Communist Party of China (CPC) Central Committee Conference held a few days ago emphasized that "consumption should play a leading role in the economic cycle", which is an important work deployed on the basis of a comprehensive analysis of the economic situation. In connection with the "Opinions on Further Releasing Consumption Potential and Promoting Sustainable Recovery of Consumption" issued by the General Office of the State Council not long ago, 20 key measures in five aspects were put forward. The "combination boxing" to promote consumption in order to consolidate and develop the market of more than 1.4 billion people has aroused widespread concern at home and abroad.

　　From the perspective of national economic operation, consumption has a lasting driving force for economic development, is an important engine to smooth the domestic cycle, and is also a key link to form a higher level dynamic balance between demand and supply, which is related to the national economy and people’s livelihood. Judging from the current economic situation in China, the triple pressures of demand contraction, supply shock and expected weakening have not changed, and some unfavorable factors are still evolving in a complicated way, and the new downward pressure has further increased. In the face of the situation, tasks and severe tests, we should not only have a full understanding, but also have countermeasures. It is undoubtedly crucial to do everything possible and comprehensively implement policies to release consumption potential and promote sustained recovery of consumption.

　　Statistics from the National Bureau of Statistics show that in 2021, the contribution rate of China’s final consumption expenditure growth to economic growth is 65.4%, which is higher than the contribution rate of total capital formation, and it is the main driving force for the stable recovery of the national economy, and the "ballast stone" role of consumption is prominent. In the first quarter of this year, thanks to the transformation and upgrading of traditional consumption, the release of new consumption potential and the strong "blood supplement" of online consumption, the overall market sales maintained steady growth. However, since March, domestic epidemics have occurred frequently, which has had a great impact on the consumer market. In March, the total retail sales of social consumer goods decreased by 3.5% year-on-year. Residents’ trips have been significantly reduced, and contact and aggregate consumption have been greatly affected. The foundation for sustained recovery of consumption still needs to be consolidated.

　　Among the key measures put forward in the Opinions, the first one is "increasing efforts to help enterprises bail out the difficulties around the main body of the insurance market", which is a key to promoting the orderly recovery and development of consumption and thus stabilizing the basic economic disk. As the COVID-19 epidemic directly impacts the consumer, small and medium-sized enterprises and individual industrial and commercial households, it has a great impact on low-income groups and basic people’s livelihood. At present, there are more than 150 million market players in China, carrying hundreds of millions of people to find jobs and start businesses. If you keep the market players, you can keep employment; If there is employment, there will be income and consumption, which will promote economic growth. The central and local governments have introduced relief measures such as tax reduction and fee reduction, and deferred payment of social insurance premiums. Some related companies such as take-away platforms have also responded positively, helping small and medium-sized businesses tide over the difficulties by reducing commissions.

　　Practice shows that reducing taxes and fees is a direct and effective way to help enterprises get rid of difficulties. All localities should, in light of the actual situation, introduce effective measures such as tax reduction and exemption according to law, so that the intensity of tax reduction and fee reduction will only increase, so as to stabilize market expectations. In addition, the financial system should also make profits to the real economy by reducing interest rates, reducing fees and other measures, and provide financing support to enterprises in industries seriously affected by the epidemic to avoid industrial loan restriction, loan withdrawal and loan suspension.

　　Stabilizing consumption growth and promoting consumption upgrading is a systematic project. Doing a good job in ensuring the supply and price stability of basic consumer goods, promoting the upgrading of physical consumption, continuously expanding cultural tourism consumption, fully tapping the consumption potential of counties and towns, reasonably increasing public consumption, and creating a safe, secure and honest consumption environment are all important tasks to increase the weight of consumption.

　　It should be noted that the impact of the epidemic on consumption is phased. With the effective control of the epidemic and the gradual emergence of policy effects, the normal economic order will be quickly restored and consumption will gradually pick up. China has a population of more than 1.4 billion, the largest domestic market with middle-income groups in the world, and the policy support and work deployment with both far and near, and the fundamentals of long-term positive consumption will not change. We should have full confidence in this. (This article Source: Economic Daily Author: Jin Guanping)

CCTV News:Another feature of Mid-Autumn Festival tourism this year is that cultural leisure tourism is favored. All localities combine the activation of intangible heritage with immersive experience to improve people’s sense of participation and identity with intangible heritage. Many places have also launched theme tourist routes such as Mid-Autumn Festival custom experience, attracting a large number of tourists. According to the data of special survey in china tourism academy, 94.1% of tourists participated in cultural leisure during holidays, and 24.8%, 35.6% and 25.6% visited historical and cultural blocks, museums, art galleries and art galleries respectively.

Traditional culture stimulates the consumption of cultural tourism in Mid-Autumn Festival holiday.

In flying tigers Scenic Area, Zaozhuang, Shandong, a group of children, dressed in Hanfu, listened to the historical story of wickerwork’s craft, made strips with straw ropes by themselves, and wound them around wicker baskets ring by ring, patiently weaving a beautiful yearning for the future.

During the Mid-Autumn Festival holiday, in Shanghai Haichang Ocean Park, a round of "bright moon" rippled in the water. Professional synchronized swimmers dressed in ancient costumes performed a series of underwater "the Goddess Chang’e flying to the moon" cultural feasts for the audience. In addition to "the Goddess Chang’e flying to the moon", there is also a cruise full of national trends, which attracts many tourists.

Characteristic cultural activities promote "night economy"

In addition to traditional cultural tourism, immersive moon viewing has also brought fire to urban night tours. Night tourism projects such as theme park night tours, river night tours and city night sightseeing have attracted many tourists.

According to the special survey data of china tourism academy, 29.3% of tourists experienced night tours during the Mid-Autumn Festival holiday.

Recently, with the overall promotion of epidemic prevention and control and economic and social development, the production and living order has been accelerated, the income growth rate of the national residents has maintained a rebound, and the consumer market has continued to rise steadily. Analysts believe that the strong resilience of China’s consumption has become an important ballast stone for China’s economy to resist the wind and waves in the first half of the year. In the second half of the year, the continuous efforts of policies such as expanding domestic demand, helping enterprises to bail out difficulties and stabilizing employment are expected to promote further compensation and recovery of consumption, thus adding more impetus to promoting the "big cycle" of domestic economy and the "double cycle" of domestic and international.

Income recovery and demand recovery

According to the latest data, in June, the total retail sales of consumer goods nationwide was 3.35 trillion yuan, down 1.8% year-on-year, and the decline narrowed for four consecutive months, with a cumulative decrease of 18.7 percentage points. From January to June, the total retail sales of social consumer goods was 17.23 trillion yuan, down 11.4% year-on-year, and the decline was 7.6 percentage points narrower than that in the first quarter.

"In the first half of the year, all localities adhered to the orientation of people’s livelihood, issued various consumer vouchers, developed the’ night economy’ through the integration of literature and tourism, helped invigorate the’ small store economy’, expanded consumption according to local conditions and took various measures to vigorously promote the recovery of household consumption. In the first half of the year, the decline in per capita consumption expenditure of the national residents narrowed significantly, with the nominal decline and the actual decline narrowing by 2.3 and 3.2 percentage points respectively compared with the first quarter. Residents’ daily necessities such as rice, flour, grain and oil, vegetables, meat, poultry and eggs were fully guaranteed, and residents’ home meals increased. In the first half of the year, the per capita expenditure on food, tobacco and alcohol increased by 5.0%, 2.9 percentage points faster than that in the first quarter. " Fang Xiaodan, director of the Household Survey Office of the National Bureau of Statistics, said.

It is worth noting that the rising growth rate of national residents’ income is inseparable from the gradual recovery of residents’ consumption level. The data shows that in the first half of the year, the per capita disposable income of the national residents was 15,666 yuan, a nominal increase of 2.4% over the same period of last year, and the nominal growth rate was 1.6 percentage points higher than that in the first quarter. After deducting the price factor, the actual decline was 2.6 percentage points narrower than that in the first quarter. At the same time, in the first half of the year, the per capita wage income of the national residents was 9010 yuan, an increase of 2.5%, 1.3 percentage points faster than that in the first quarter, and the per capita disposable income of the national residents increased by 1.4 percentage points.

Fang Xiaodan said that in terms of wage income, the resumption of work and production in various places has been solidly promoted, the vitality of economic and social development has recovered, and the economic fundamentals have laid the foundation for wage income growth; In operational income, the phased tax reduction and fee reduction, rent reduction and interest rate reduction, inclusive finance and other policy support have effectively reduced the production and operation costs of self-employed households and small and micro enterprises, and their operating conditions have improved compared with the first quarter.

There are many highlights in online consumption.

In the first half of this year, "offline limited online replenishment" became an important feature in the consumer field.

According to the data of the National Bureau of Statistics, under the prevention and control of the normalized epidemic situation, new consumption formats and new modes such as online shopping, online entertainment and online classroom are growing against the trend. For example, in the first half of the year, the number of people buying goods or services through the Internet generally increased, and the per capita postage expenditure increased by 10.8%. For another example, in order to meet the needs of home office study, the per capita spending on home desktop computers and notebook computers increased by 19.4% and 79.6% respectively in the first half of the year.

According to the Report on Economic War and Epidemic in 2020 yards jointly released by Tsinghua University China Economic and Social Research Center and Tencent Social Research Center, in the economic recovery, leisure, entertainment, restaurants, hotels and transportation rebounded most significantly, and the number of WeChat transactions increased by 7-10 times. In the last week of April, the average daily commercial transaction volume of WeChat payment has recovered to the level of the end of 2019. The report believes that the innovation of online mode under the WeChat ecosystem will further promote the upgrading of people’s lifestyles, and the depth and breadth of lifestyle online will enter a new stage, and scene, intelligence and personalization will become the development trend of lifestyle change.

Fu Yifu, a senior researcher at Suning Financial Research Institute, analyzed that in the first quarter, affected by the COVID-19 epidemic, the all-round rise of online consumption was the biggest highlight. In the second quarter, as the domestic epidemic prevention and control situation continued to improve, all walks of life resumed production and markets steadily, and the intensity of new kinetic energy for online consumption did not decrease. At the same time, offline consumption scenes such as scenic spots, restaurants and hotels also returned to the public’s field of vision, and many consumers’ consumer demand that was forced to postpone during the epidemic prevention and control period began to restart.

Zhao Ping, director of the International Trade Research Department of the China Council for the Promotion of International Trade, believes that the epidemic has further enhanced consumers’ online consumption habits, and the growth rate and proportion of online consumption have continued to increase, which has become the biggest highlight of consumption growth in the first half of the year. At the same time, online consumption has also spawned new consumption patterns such as community e-commerce, social e-commerce, community e-commerce and live delivery, thus effectively releasing the potential of online consumption.

Tamp the economic pressure resistance.

Weigh, a researcher at the Institute of World Economics of Shanghai Academy of Social Sciences, pointed out in an interview with this reporter that both the "six stability" work and the "six guarantees" task will ultimately be supported by strong consumption power. Since the beginning of this year, in the face of the great test brought by the COVID-19 epidemic, China has scientifically handled the relationship between the prevention and control of normalized epidemic and economic and social development, especially by adjusting the consumption pattern in time and effectively meeting the rigid consumption demand, thus achieving the maximum risk hedging and economic stability.

"In the process of gradually forming a new development pattern with domestic big circulation as the main body and domestic and international double circulation promoting each other, consumption is an important connection point of domestic and foreign market players and plays a very important role. Judging from the actual situation in the first half of the year, the rebound of consumer demand in China has not only become an important supporting force for China’s economy to resist all kinds of risks, but also injected strong confidence into the world economy. In the future, the role of consumption will be further highlighted. " Weighing theory.

In the eyes of many analysts, consumption is a clear manifestation of China’s economic resistance to pressure in the first half of the year. Yu Hong, a senior researcher at the Institute of East Asian Studies at the National University of Singapore, believes that China has a huge domestic market and a vibrant regional economy. In addition, the government has launched targeted fiscal, taxation and financial measures to support enterprises, which plays an important role in restoring economic growth and shows the resilience and potential of China’s economy.

Xing Ziqiang, chief economist of Morgan Stanley China, said that compared with developed countries, China’s consumption structure is currently dominated by physical consumption. In the future, as residents gradually pursue high-quality life, their consumption focus will shift from meeting basic needs to increasing life experience, and their consumption structure will also shift to service consumption. Xing Ziqiang predicts that consumption will gradually recover in the second half of this year and become the mainstay of economic growth next year, driving economic growth back to its potential level. (Reporter Wang Junling)

　　Evening News (Reporter Yan Li) For children who have not yet entered adolescence, precocious puberty is not a good thing, so many parents are concerned about it. Huang Le, chief physician of endocrinology department of Tianjin Children’s Hospital, suggested that the appearance of precocious puberty will not only hinder children’s growth and development, but also affect their physical and mental health.

　　A sign of precocious puberty

　　The precocious puberty signals of boys and girls are very different. Generally speaking, girls develop puberty before the age of 8 or boys before the age of 9, which can be preliminarily judged as precocious puberty. If a girl has breast enlargement, pubic hair growth, armpit hair growth, vaginal discharge increase before the age of 8 or menstruation before the age of 10, parents should pay attention to any of these changes, which is the signal of precocious puberty of girls. Before the age of 9, if boys have testicles and penises growing up, scrotal skin folds increase and the color deepens, penile erection increases, and even some boys produce semen, these are all signs of precocious puberty in boys.

　　In addition, children’s precocious puberty has several characteristics, such as sudden increase in height, obvious development in a short time, and may have symptoms such as headache, vomiting and blurred vision. If children who have not entered adolescence have the above phenomenon, parents should also pay attention to it in time.

　　The harm of precocious puberty

　　The most obvious harm of precocious puberty is that it may affect the height of children. Adolescence is the fastest stage of children’s growth and development. If children have precocious puberty before puberty, it may affect their height development. Clinical cases show that some children with precocious puberty will greatly slow down their growth rate and their height will be shorter than that of normal children.

　　Secondly, precocious puberty will affect children’s mental health, and children with precocious puberty may have some physical differences with children of the same age, which will have an impact on children’s psychology.

　　Furthermore, precocious puberty may affect the development of children’s reproductive system. With the continuous improvement of people’s living standards and the improvement of dietary nutrition, children’s sexual development is now relatively advanced, so parents need to pay more attention to this aspect. In addition, the causes of children’s precocious puberty are complicated and influenced by many factors such as heredity, diet and environment, so it is more necessary to seek medical treatment as soon as possible, otherwise it is likely to affect the child’s future development.

　　Prevention of precocious puberty

　　In order to avoid precocious puberty, parents can adjust their children from the aspects of diet, exercise and sleep.

　　Parents should pay attention to balance their children’s diet, and don’t have to deliberately emphasize fineness. It’s best to eat coarse grains and flour and rice in a balanced way. The doctor suggested that children should eat less snacks and eat some fruits in addition to the normal three meals a day, but they should not delay the dinner. Parents should drive their children to exercise moderately. Doctors suggest that when the weather is fine, parents should take their children outdoors for at least one hour at a time. Parents should urge their children to get enough sleep every day and try to sleep around 21 o’clock. Children generally need 10 to 12 hours of sleep every day, and at least 9 to 10 hours of quality sleep should be guaranteed.

　　In addition, doctors remind parents that if children are found to have precocious puberty, they should go to regular hospitals in time, be tested by scientific diagnostic methods such as hormone level, B-ultrasound and CT, and be treated according to the doctor’s advice.

Only after handing over the best mid-year report in history, BYD (002594.SZ) immediately encountered the test of investor confidence by Buffett’s reduction.

Since 2022, BYD’s various businesses have generally been "opened". In terms of new energy vehicles, sales exceeded 100,000 vehicles for five consecutive months, and surpassed Tesla to top the global sales in the first half of 2022. At the same time, the installed capacity of power batteries has steadily increased. In May, it surpassed LG in the installed capacity ranking of global power battery enterprises and became the second in the world.

Under the blessing of two ace businesses and high market valuation, BYD ushered in an unexpected but unexpected Davis double click — — On June 10th, BYD’s total market value successfully exceeded one trillion, becoming the first domestic automobile brand with a market value exceeding one trillion.

But there were Ning Wang and Tesla before, followed by Wei Xiaoli. Can the trillion "Diwang" take the lead in the increasingly white-hot global new energy vehicle war and bring more imagination beyond the valuation of nearly 300 times?

Berkshire’s answer now seems to be no: for the first time in 14 years, it reduced its holdings by more than 6 million shares. There are still 219 million shares in hand, will the market outlook continue to cash out? This makes the market quite a bit floating.

Go back to the basic disk. BYD has been building its own winning weapon for many years — — The industrial chain layout and vertically integrated business structure have made it frequently criticized, and now it is highly respected and has become "the only company that has completely withstood the blockade, chip shortage and rising raw material prices".

After the profit turning point, whether BYD’s whole industrial chain layout can escort and promote its sustained high growth, and how unique industrial ecological landscape will be generated, this paper will deconstruct and analyze its two main businesses, new energy vehicles and power batteries, and find out.

The full text is long, mainly from the following aspects:

New energy vehicle business

1.1 Upstream chip: self-core-made, and it has become the power semiconductor faucet of domestic vehicle specifications.

1.2 Mid-stream auto parts: Can the "Foday System" be both internal and external?

1.3 intelligent mid-stream vehicles: self-research capability needs to be improved.

1.4 Downstream production base: The layout quantity is relatively advanced.

Second, the power battery business

2.1 upstream lithium ore and raw materials: self-production and equity participation.

2.2 Battery technology and key equipment are independently developed.

2.3 layout power battery recycling, trying to solve the demand for raw materials.

2.4 The production capacity continued to expand, adding multiple production bases.

I. New energy vehicle business

Cars are undoubtedly BYD’s most profitable business segment.

In the first half of 2022, BYD sold 646,400 vehicles, up 162.03% year-on-year, of which 638,200 were new energy passenger vehicles, up 324.84% year-on-year, and the domestic market share reached 24.7%, up over 7.5 percentage points from 2021.

In terms of revenue, in the first half of 2022, the proportion of automobiles, related products and other products in total revenue increased from 52.20% in the first half of 2021 to 72.55% in the first half of 2022, achieving revenue of 109.267 billion yuan, a year-on-year increase of 130.31%.

In terms of profit, BYD ended the situation of increasing income without increasing profit. In the first half of the year, it realized a net profit of 3.029 billion yuan, a year-on-year increase of 721.72%.

"BYD has a high configuration and a low price, so it sells well. After its market share is stable, it will gradually raise prices and its profitability will improve." A new energy fund manager said that the complete industrial chain layout has also promoted BYD’s profitability.

Wang Chuanfu once said that foreign suppliers despises new independent brands and can only rely on themselves at first. It is both a challenge and an opportunity. It is from the initial forced "self-production and self-supply" that BYD has stepped forward to the present.

1.1 Upstream chip: self-core-made, and it has become the power semiconductor faucet of domestic vehicle specifications.

In 2002, BYD set up the integrated circuit design department, which started almost simultaneously with its plan to build cars and batteries. In 2004, IT officially entered the field of microelectronics and optoelectronics in the IT industry, and BYD Microelectronics was established, which was later BYD Semiconductor. Recently, BYD Semiconductor has submitted a prospectus to Shenzhen Stock Exchange, intending to be listed on GEM.

BYD has been developing its own chips for 20 years, and now it has become the largest power semiconductor IDM enterprise in China. According to BYD Semiconductor’s prospectus, the company’s main business is divided into five sectors: power semiconductor, intelligent control IC, intelligent sensor, photoelectric semiconductor, manufacturing and service, and the revenue in 2021 accounts for 43.22%, 13.46%, 19.25%, 18.69% and 5.38% respectively.

Among them, the power semiconductor business with the largest proportion of revenue mainly adopts IDM business model, and has formed a complete industrial chain including chip design, wafer manufacturing, module packaging and testing, and system-level application testing. The products mainly include IGBT chips, FRD chips, IGBT modules, IGBT single tubes, IPM modules, SiC modules, etc., which are applied to new energy vehicles and other fields.

BYD Semiconductor has set up an IGBT R&D team since 2005. IGBT can convert direct current into alternating current, which is an indispensable device for new energy vehicles. At present, the company’s vehicle-class IGBT module has matched BYD’s new energy vehicles, and the total shipment volume ranks first in China, breaking the monopoly of overseas manufacturers.

At the same time, BYD Semiconductor is also the first power semiconductor enterprise in the world and the only one in China to realize the large-scale loading of SiC three-phase full-bridge modules in motor drive controllers of new energy vehicles. It has broken through technical problems such as high-temperature packaging materials, long-life interconnection design, high heat dissipation design and vehicle regulation level verification, and realized the large-scale application of SiC modules in high-end models of new energy vehicles.

Intelligent control IC products include MCU chip, power IC and BMSAFE chip. At present, Fabless business model is mainly adopted.

In the field of vehicle regulation MCU, BYD Semiconductor is also the first echelon in China. The company’s car-level 8-bit MCU chip has been mass-produced since 2018, and is mainly used in automotive electronic control scenes such as car lights and car buttons; The 32-bit MCU chip of vehicle regulation level is designed according to the requirements of ISO26262 safety level standard, and it integrates various communication modules, which can be applied to automotive electronic control scenes such as electric windows, electric seats, wipers, lights and instruments.

Wang Chuanfu once said that the electrification of automobiles has brought about great changes that have never happened in a hundred years, and the industrial supply chain system is bound to be reconstructed. "In the field of semiconductors, the demand for semiconductors in electric vehicles is 5-10 times higher than that in traditional vehicles. Electric cars are in the first half, smart cars are in the second half, and smart cars have greater demand for semiconductors. "

However, there are only a handful of car companies that make their own chips. After all, the research and development cycle is long and the investment is large, which is not cost-effective, especially the IDM model with heavy asset investment.

In the tide of core shortage that swept the world in the past two years, automobile chips were in the most shortage, especially the power semiconductor of automobile gauge and MCU in vehicle. The advantages of BYD’s self-made chips were fully reflected.

Can BYD Semiconductor supply in bulk to other car manufacturers in the future? At present, in addition to supplying BYD Group, its vehicle-grade power semiconductor products have entered the supply systems of manufacturers such as Xiaokang Automobile, Yutong Automobile, Foton Motor, Ruiling, Beijing Times, Invigorate, Blue Ocean Huateng and Huichuan Technology, but in 2021, the revenue from BYD Group still accounted for more than 60%.

1.2 Mid-stream auto parts: Can the "Foday System" be both internal and external?

"BYD’s overall supply chain was relatively weak during the epidemic. Some core components were done by its own business department, and the control of the supply chain was relatively in place." A new energy analyst of a brokerage recently said in an interview with CBN.

In March 2022, BYD launched an independent Foday brand and officially announced the establishment of Foday Company. The company has operational autonomy and the core components of new energy are sold to the outside world.

According to Wang Chuanfu, as a sub-brand of BYD, Foday Department is a complete auto parts supporting system, which is an inevitable choice for BYD after years of vertical integration. After the split, it will be priced according to the market-oriented mechanism to form a profit center.

On the one hand, Foday Company guarantees the safety of BYD’s industrial chain, on the other hand, it can broaden the company’s growth space through external supply, which is expected to open a second growth curve in the field of auto parts.

Up to now, BYD has five auto parts companies: Foday Mould, Foday Power, Foday Battery, Foday Technology and Foday Vision, and through these five companies, it has realized self-supply in the fields of power battery, electric drive system, electric vehicle platform, thermal management system, lighting system and battery management system.

In terms of batteries, since 2020, Foday Battery has established a number of "Foday Department" battery companies.

From Bengbu Fudi Battery Co., Ltd. in 2020 to Wuwei, Yancheng, Jinan, Shaoxing, Chuzhou, Fuzhou Fudi Battery Co., Ltd. and Chongqing Fudi Battery Research Institute Co., Ltd. in 2021, and then to Xiangyang, Taizhou, Nanning, and Guangxi Fudi Battery Co., Ltd. in 2022, the total number is more than ten.

In February 2022, the power battery project of FAW Fudi New Energy Technology Co., Ltd., which was jointly registered by China FAW Group and BYD, officially started. With a total investment of 13.5 billion yuan, the project can meet the configuration requirements of 600,000 electric vehicles every year after it is completed and put into operation, and realize an annual output value of more than 20 billion yuan.

In terms of electric drive, in March 2022, Skyworth Motor released the Skyworth HT-i model. Some insiders said that the Skyworth HT-i model adopted the HT-i system developed by Foday Power and Skyworth, and the HT-i system was tailored for Skyworth Motor.

As early as 2019, BYD released the "BYD New Energy Vehicle Parts Selection Manual", which externally supplied core components such as powertrain, motor, electronic control and power supply.

1.3 intelligent mid-stream vehicles: self-research capability needs to be improved.

BYD, which started from the traditional manufacturing industry, did not have the conditions to impact the high-end in the era of fuel vehicles. With the advent of the intelligent era, BYD’s self-research and foreign cooperation were driven by both, and it got the tickets for the second half in advance.

Yang Dongsheng, vice president of BYD and president of Product Planning and Automotive New Technology Research Institute, once said that the core of automotive intelligence lies in the intelligent cockpit. After three years of development, BYD’s DiLink system applied to the intelligent cockpit has launched version 4.0 in 2021.

Previously, in the second half of 2020, BYD Intelligent Networking Center also released DiPilot, an advanced intelligent driving assistance system for automobiles, for the first time, which includes DiDAS intelligent assistance technology and DiTrainer coaching mode.

At present, BYD’s main subsidiary, Foday Technology, is engaged in research related to intelligent cockpit, ADAS and vehicle networking. The specific products include multimedia systems, blind spot monitoring systems, automatic parking, panoramic images and intelligent forward-looking. At the same time, Foday Seiko has relevant layout in smart car, and its specific products are lighting combination headlights and rear lights, rearview mirrors, indoor and outdoor photo lamps, etc. In addition, the Automotive Smart Ecology Research Institute is engaged in the research and development of open smart car platforms, smart customer relationships and smart car applications.

However, compared with electrification, BYD’s intelligent self-research ability needs to be improved.

"It is difficult for BYD to make breakthroughs in intelligent driving and software systems. Now it is basically the world of Huawei and several foreign players." The above fund manager said. There are even more extreme voices saying that BYD’s shortcomings in the direction of intelligence are as obvious as its advantages in electrification.

Among them, hardware configuration and OTA (over-the-air download technology) are the main gaps between BYD and the new car-making forces.

The Qualcomm Snapdragon SM6350 chip used in BYD DiLink 4.0 platform is a mid-to high-end processor, while the mainstream cockpit chips of Tucki P5, Weilai ET7 and ET5 all use Qualcomm Snapdragon SA8155P chip. SA8155P chip is the top-level chip in Qualcomm, and it is in the first echelon in the automotive chip industry. At the same time, BYD has also faced problems such as upgrade trouble and poor user experience in OTA.

Judging from the layout of BYD’s R&D, it seems that the company really prefers electrification. In 2021, BYD’s R&D investment reached 10.63 billion yuan, a year-on-year increase of 24.20%. The projects involved mainly included blade battery technology, energy storage products (BMS-active) and DM-i super hybrid.

How will BYD handle itself in terms of intelligence?

At the same time of self-research, BYD chose to strengthen cooperation with the outside world in an effort to make up for the shortcomings of the industrial chain.

In 2018, BYD and Baidu Apollo signed cooperation agreements related to new energy vehicles, driverless technology and vehicle asset sharing operations.

In 2019, BYD signed a strategic cooperation agreement with Huawei, and BYD Han was equipped with Huawei HiCar；; In March 2021, the company strategically invested in Horizon, an automotive smart chip enterprise; In November 2021, Momenta, a company related to autopilot software, established a joint venture company "Dipai Zhixing" for high-level autopilot layout; In December 2021, it reached a strategic cooperation agreement with sagitar Juchuang (mainly engaged in intelligent lidar system), and officially led sagitar Juchuang in February 2022. In February 2022, Baidu was selected as the supplier of intelligent driving system; In March of the same year, it reached a cooperation with NVIDIA, and it is planned to install NVIDIA DRIVEHyperion platform on some vehicles in the first half of 2023 to realize a higher level of intelligent driving function.

1.4 Downstream production base: the layout quantity is relatively advanced.

In April 2022, when the epidemic was serious, BYD’s pure electric and plug-in hybrid products were ranked first in the sales of passenger car brands.

The reason why BYD’s sales volume can ride the dust, in addition to the materials needed for self-supply, the widely distributed production base also contributed.

Compared with enterprises such as Weilai, Ideality and Tesla, which have only one production base in China, BYD has built four automobile production bases in Shenzhen, Xi ‘an, Changsha and Changzhou. In June 2022, the first complete vehicle Qin PLUSDM-i of BYD Hefei Base Phase I was successfully rolled off the assembly line, and five other factories, including Fuzhou, were under construction. This means that once there is an emergency, BYD can minimize the risk of downtime.

According to the data of China Investment Network, as of May 2022, BYD’s annual production capacity has reached 1.3 million vehicles, and it is expected to reach 3.4 million vehicles in 2022. With the steady implementation of mass production plans of some factories, the vehicle production capacity will reach 4.05 million vehicles in 2023, and the scale effect will be further revealed.

It is reported that at present, BYD’s four bases in Jinan, Hefei, Zhengzhou and Shenshan all adopt the mode of "parts+whole vehicle", which can predict in advance to reduce the accumulation of parts and spare parts and reduce the stocking cost as much as possible.

Second, the power battery business

The struggle between Ferrous lithium phosphate and Sanyuan never stopped. Wang Chuanfu, who has worked with batteries for decades, insists that BYD can only find a way out in China and the world if it is Ferrous lithium phosphate. Despite the twists and turns, BYD finally won back the main battlefield of lithium iron phosphate battery with its high-performance blade battery.

According to the data of China Automotive Power Battery Industry Innovation Alliance, with the accelerated loading of blade batteries, the installed capacity of BYD power batteries increased from 16.2% in 2021 to 22.25% in the first seven months of 2022.

However, the financial report shows that in 2021, BYD’s secondary charging and photovoltaic business (including power battery business) achieved revenue of 16.471 billion yuan, a year-on-year increase of 36.72%; The gross profit margin was 11.94%, down 8.22 percentage points year-on-year.

To say who is holding back the profitability of power batteries, the high probability is the lithium mine whose price is "constantly rising". BYD’s power battery business has undoubtedly faced the challenge of high raw material prices since 2021. In fact, in order to stabilize the supply chain and control the battery cost, BYD has been trying to enter the upstream lithium mine field in recent years, and at the same time, it has intensified its efforts to lay out the middle-stream lithium battery equipment, downstream power battery recycling and other businesses.

2.1 upstream lithium ore and raw materials: self-production and equity participation.

In March, 2022, Wang Chuanfu said at the committee of 100 Forum on Electric Vehicles in China that the soaring price of battery raw materials was a challenge that the industry needed to overcome. He suggested that the layout and production capacity of lithium carbonate resources should be comprehensively sorted out, the domestic mining volume and foreign imports should be increased, and the price expectation should be stabilized.

BYD mainly arranges lithium resources by investing in lithium resource enterprises, establishing joint ventures with lithium resource enterprises, and directly purchasing lithium mine mining rights.

As early as 2010, BYD invested about 200 million yuan to acquire an 18% stake in Zabuye High-tech Lithium Industry Co., Ltd. in Shigatse, Tibet. According to the data, Zabuye High-tech Lithium Industry is a holding subsidiary of Tibet Mining and has the exclusive mining right of Zabuye Salt Lake for 20 years. The salt lake is the third largest lithium mine salt lake in the world and the largest in Asia, with proven lithium reserves of 1.841 million tons.

Since 2022, the company’s lithium resource layout has been more intensive. In January, BYD won the bid of $61 million for the Chilean lithium mine, but unfortunately the project was stopped by the local court; In March, it is planned to invest 3 billion yuan in Shengxin Lithium Energy. In April 2022, the company signed an agreement with Yinhe Lithium Industry to purchase 60,000 tons of lithium concentrate every year. At the same time, the planned new 60,000-ton lithium salt project in Indonesia is expected to be put into production in 2023. At the end of March, BYD Auto Industry, a subsidiary, invested 6 million yuan and held 30% of the shares, and set up a mining company with Sichuan Luqiao, aiming at developing Sichuan lithium mine resources; In May, it was reported that BYD had found six lithium mines in Africa, all of which had reached the acquisition intention. The output of lithium carbonate in these six lithium mines is reported to reach 1 million tons, which can cover the company’s raw material demand in the next decade.

As for cathode materials, BYD, as an enterprise specializing in lithium iron phosphate batteries, can imagine the demand for Ferrous lithium phosphate. Therefore, on the basis of self-research and self-production, the company also guarantees the supply through the mode of foreign equity participation.

In 2019, the Ecological Environment Bureau of Haidong City, Qinghai Province issued a public notice of environmental impact assessment, and accepted the construction project of Ferrous lithium phosphate with an annual output of 20,000 tons of Qinghai BYD Industrial Co., Ltd., with a total investment of 710 million yuan.

In July 2022, Anda Technology announced that BYD spent 30 million yuan to subscribe for the company’s directional issuance of shares, with a shareholding ratio of 2.11%. In addition, BYD also took a stake in Hunan Yuneng, another leading anode manufacturer in Ferrous lithium phosphate, with a shareholding ratio of 5.27%.

In addition to lithium ore and cathode materials, the company’s annual report revealed that a series of related businesses such as battery aluminum foil, aluminum-plastic film, separator and electrolyte additives were also laid out in the field of power batteries, and the upstream and downstream industries were continuously strengthened.

In 2021, North China Aluminum Company established a battery aluminum foil company, which attracted many battery companies to become shareholders, of which BYD held 2.97%.

Zijiang New Materials is one of the leading enterprises in the domestic aluminum-plastic film industry. In the second half of 2021, strategic investors such as BYD were introduced through capital increase and share expansion, and BYD directly held 3.87% of the shares. At the same time, BYD was the largest customer of Zijiang New Materials.

BYD’s diaphragm layout started as early as 2009, when the company and Foshan Plastic Group Co., Ltd. jointly expanded the lithium-ion battery diaphragm project with a total investment of about 105 million yuan. By August, 2016, BYD’s power battery separator has been partially produced.

In terms of electrolyte additives, in February 2021, BYD took a stake in Huasheng Lithium Battery, which had just been IPO, and held 1.98% of the shares.

2.2 Battery technology and key equipment are independently developed.

Insisting on being long and thin is the development direction of BYD’s battery technology.

The company’s main product, the blade battery, adopts the Ferrous lithium phosphate scheme of long battery cells, flattens the battery cells, and uses the module-free technology to form a battery pack, so that the utilization rate of the internal space is increased to about 60%, and the cost can be reduced by about 25%.

According to TF Securities, in November 2021, Foday battery ranked second in the domestic market share of power battery cells. Foday battery joint venture FAW Foday New Energy Technology Co., Ltd. is mainly engaged in the manufacturing of core components such as new energy batteries, modules and related supporting industries. After the factory is fully put into production, the annual production capacity of power battery can reach 45GWh, which will provide long-life blade batteries for more than 1 million vehicles.

Because the shape of the blade battery is different from that of the traditional power battery, the ready-made standard equipment can’t be used directly. BYD takes advantage of being a "tech man" and the equipment for key processes is developed by itself.

For example, the lamination process adopts the equipment and cutting scheme independently developed by BYD. The pole piece with a length of nearly 1 meter can achieve the accuracy and speed of tolerance control within ±0.3mm and single lamination efficiency of 0.3s/pcs, which is the first in the world. At the same time, self-developed equipment and systems are also used in the assembly and liquid injection.

2.3 layout power battery recycling, trying to solve the demand for raw materials.

In September 2015, BYD and GEM jointly established a recycling system of "material recycling-battery recycling-new energy vehicle manufacturing-power battery recycling". In January 2018, BYD signed a strategic partnership agreement with Tower Company for recycling new energy power batteries. At present, BYD has set up more than 40 power battery recycling service outlets in more than 10 provinces and cities.

In addition to solving the urgent demand for raw materials and reducing the cost of raw materials, another significance of the power battery recycling business is that it may open up a new growth curve for BYD.

Judging from the performance of battery recycling leaders GEM and Tianqi, in 2021, GEM’s power battery recycling business achieved revenue of 151 million yuan, a year-on-year increase of 61.63%; Jiangxi Tianqi Jintaige Cobalt Co., Ltd., the core subsidiary of Tianqi’s lithium battery recycling business, achieved an operating income of 988 million yuan in 2021, a year-on-year increase of 52%; The net profit of returning to the mother was 224 million yuan, a year-on-year increase of 622.58%.

According to the data, the business scope of Taizhou Fudi Battery Co., Ltd., a subsidiary of Fudi Power, includes battery manufacturing and sales, recycling and cascade utilization of waste power batteries in new energy vehicles, and research and development of new materials and technologies. At present, the company is indirectly wholly-owned by BYD Co., Ltd.

2.4 The production capacity continued to expand, adding multiple production bases.

"In 2021, the bottleneck of battery capacity had a certain impact on the mass production of the whole vehicle. With the production capacity of the battery base in 2022, the automobile production capacity will also increase. In April, the proportion of BYD’s loading on the battery side has reached 32.18%, and the gap with Contemporary Amperex Technology Co., Limited is gradually narrowing." The above analyst said.

Since 2021, BYD has successively expanded eight battery production bases in Jinan, Shandong, Wuwei, Anhui, Yancheng, Jiangsu, Wuhan, Hubei, Shaoxing, Zhejiang, Ningbo, Chuzhou, Anhui and Fuzhou, Jiangxi, with a total new production capacity of 205GWh. In 2022, bases in Xiangyang, Hubei and Changchun, Jilin were successively opened, and two base projects in Taizhou, Zhejiang and Nanning, Guangxi were signed.

In terms of production capacity, BYD plans to have a production capacity of 135GWh in 2021 and an available production capacity of 80GWh；; In 2022, the planned production capacity is 285GWh, and the available production capacity exceeds 200GWh；; By 2023, the planned production capacity will exceed 500GWh, and the available production capacity will exceed 350GWh.

The expansion of production capacity has also accelerated the process of BYD’s battery supply.

In 2018, BYD Power Battery only had two commercial vehicle customers, Taikai Automobile and Xugong Machinery. In 2019, the external supply of passenger cars was opened, and Changan Automobile, FAW and Changan Ford became new customers.

After BYD launched the blade battery in March 2020, it attracted more car companies to discuss cooperation.

In 2021, the external supply ratio of BYD power battery is about 10%. From the perspective of specific customers, FAW is the first third-party passenger car enterprise to adopt blade batteries, and BYD power batteries account for 25% of its total installed capacity; Dongfeng, Changan and BAIC use ternary batteries, and BYD’s supply accounts for 6%, 4% and 0.1% respectively.

Cinda Securities believes that with the increase of the acceptance of Ferrous lithium phosphate route, the external supply business is expected to usher in a substantial breakthrough, and the power battery business may become another important growth pole of the comparable automobile business.

Third, the conclusion

From about 60 yuan/share in June 2020 to a high of 358.86 yuan/share in June 2022, BYD’s share price has nearly tripled in just two years, which is supported by performance and the result of high valuation given by the market.

It can’t be denied that BYD seems to have opened up the second vein of Ren Du in the past two years, and the vertical integration layout that has been painstakingly managed for many years has soared to generate, resulting in great synergy, forming a virtuous circle of the whole industrial chain of new energy vehicles and constantly gaining positive feedback.

But after the market value once broke through one trillion, where is BYD’s next stop?

There were many optimists. Head brokers use the segment valuation method and think that the company’s reasonable value is 1.4 trillion yuan; There is also a view that new energy vehicles will be not only a means of transportation in the future, but also the next generation of intelligent terminals. If the new energy vehicle industry will produce a company with a market value of 2 to 3 times that of Apple’s stock, the market value of BYD may be trillions of dollars against Tesla.

Real money traders are obviously more rational. The latest market value of BYD’s A-shares has dropped to around 850 billion yuan, and the news that the stock god has reduced its holdings may further return it.

Charles Munger once said, "Wang Chuanfu knows what he can do and what he can’t do, while Musk thinks he can do anything. I prefer to choose those who have self-knowledge. " This is a high evaluation, but obviously, this does not affect Berkshire’s reduction of cash BYD, at the time he thinks it is appropriate.

This article does not constitute any investment advice, and investors should act accordingly at their own risk. The market is risky and investment needs to be cautious.