Wen | Hong Kong Stock Research Society

On November 23rd, Netease Cloud Music announced the launch of the initial public offering in Hong Kong. The co-sponsors of the listing are Bank of America Securities, CICC and Credit Suisse.

According to the announcement, Netease Cloud Music will publicly issue 16 million common shares worldwide, with the offering price range of HK$ 19-220 per share, and plans to raise HK$ 3.04-3.52 billion (about RMB 2.49-2.89 billion), with an over-allotment right of no more than 15%. It is estimated that the valuation of Netease Cloud Music will be between 39.47 billion and 45.71 billion Hong Kong dollars (about 32.37 billion to 37.48 billion yuan) after listing.

According to the prospectus, Netease Cloud Music introduced Netease, Sony Music Entertainment and Orbis Investment Management Co., Ltd. as cornerstone investors, with a total subscription of 350 million US dollars (about 2.73 billion Hong Kong dollars). According to the plan, Netease Cloud Music will be officially listed on December 2nd with the code "9899.HK".

What is the valuation level of Netease Cloud Music with a stock price of HK$ 190-220?

According to the calculation of the prospectus, assuming that the over-allotment option has not been exercised, the shares raised by Netease Cloud Music in public account for 7.7% of the total issued shares. Based on the calculation of HK$ 19-220 per share, its valuation is between US$ 5.065 billion and US$ 5.87 billion when converted by exchange rate.

Netease Cloud Music reached 184 million monthly users in the first three quarters; The number of online music paying users was 27.52 million, an increase of over 93% year-on-year; The online music payment rate reached 14.9%.

In December 2018, Tencent Music landed on the New York Stock Exchange with a valuation of US$ 21.3 billion. The current market value is about US$ 12.9 billion, and the valuation of Netease Cloud Music is about 40% of Tencent Music. Judging from the number of users and financial situation; The cumulative MAU of Netease cloud music online music service and social entertainment is a quarter to a fifth of TME; And compared with TME, the revenue is about one fifth. However, compared with the market value of TME, the current valuation of Netease Cloud Music is obviously higher than its equivalent value. It shows that the capital market recognizes and values its content community.

This optimism should mainly come from Netease Cloud Music’s unique community route, original music advantages and highly sticky young users; It is optimistic about its long-term development. Recently, Xiaohongshu completed a new round of $500 million financing, with a market value of $20 billion after the investment. Community concept stocks are still promising investment targets in the capital market.

As far as community products are concerned, compared with the market value of bilibili and other content communities, the valuation of Netease Cloud Music is still in the low range. Bilibili’s monthly income in the third quarter of this year was 267 million, and its market value exceeded HK$ 200 billion. In contrast, Netease Cloud Music had a monthly income of 184 million in the first three quarters, and the highest valuation was only HK$ 45.7 billion, which was obviously underestimated.

Recently, Zhihu released its third quarter financial report, with an average monthly active users of 101.2 million and an average monthly paid members of 5.5 million. At present, the market value of Zhihu is about $4.6 billion. Netease Cloud Music’s monthly activity is about 1.8 times that of Zhihu in the same period, but its valuation is similar, which shows that its community valuation has not been fully reflected.

Due to the recent correction of China Stock Exchange, Internet community enterprises are at a low market value. When bilibili was first listed in the US in 2018, its market value was only $3.2 billion, and its share price really broke through more than two years after listing. In the long run, the valuation of Netease Cloud Music is seriously underestimated, and there is still much room for growth in the future.

Is the "first share of the music community" valuable after the copyright is not independent?

According to the prospectus, Netease Cloud Music’s revenue from 2018 to 2020 was 1.1 billion yuan, 2.3 billion yuan and 4.9 billion yuan respectively. In the first three quarters of 2021, the total revenue was 5.1 billion yuan, a year-on-year increase of 52%; Among them, online music revenue increased from 1.85 billion yuan in the same period of 2020 to 2.44 billion yuan, social entertainment and other sectors revenue increased from 1.52 billion yuan in the same period of last year to 2.67 billion yuan, online music service revenue accounted for 47.7%, social entertainment services and other income accounted for 52.3%.

From the cost side, the proportion of Netease Cloud Music content service cost to revenue has gradually decreased, and the gross loss has continued to narrow. At present, the gross profit margin has turned positive. In terms of revenue growth rate, Netease Cloud Music also far exceeds the overall level of the industry, reaching over 100% in 2019 and 2020, and still reaching 60.0% in the first half of 2021, about twice the growth rate of the industry. In the first half of 2021, the adjusted net loss of Netease Cloud Music narrowed to 500 million yuan year-on-year, and the gross profit margin increased significantly and turned positive to 0.4%.

It is worth noting that at present, most of Netease Cloud Music’s losses are caused by changes in the fair value of convertible redeemable preferred shares. After listing, this part of the loss will disappear with the completion of the share conversion (the latest one will expire on October 23, 2023) and will not lead to the outflow of cash flow.

In July this year, the exclusive copyright of music was banned. For the online music market, this means that the industry has returned to a level playing field. Affected by this, Netease Cloud Music has recently reached copyright cooperation with Modern Sky, Hong Kong Emperor Entertainment and China Record Group. Many famous artists, bands and musicians, such as Nicholas Tse, Joey Yung, Twins, New Pants, Tong Yang and Wu Tiao, have returned. According to the analysis of Western Securities, under the premise of gradually eliminating copyright monopoly in the music industry, the core competition of online music platform will focus more on ecological construction and user operation experience, and Netease Cloud Music has advantages in these aspects.

Hong Kong stock policy is favorable and frequent attention is paid to high-growth technology Internet enterprises.

This year, the global capital market continued to fluctuate, and many Internet companies decided to suspend the IPO process. Recently, however, with the stabilization of the market, the HKEx has also released a number of positive signals, including optimizing and broadening the secondary listing mechanism, and including technology Internet stocks such as Netease, JD.COM and Xinao Energy in the Hang Seng Index, so as to attract more enterprises to come to Hong Kong and return to Hong Kong for listing. Netease Cloud Music, as the first Internet company to officially launch IPO, also shows the strong endogenous motivation and development potential of the music community.

Compared with bilibili’s market value of more than 20 billion US dollars, and Xiaohongshu’s valuation of 20 billion US dollars; If Netease Cloud Music operates properly and the fundamentals continue to improve, there should be more room for growth.

After the reform of the listing system of the Stock Exchange in April 2018, attracting more relevant funds and enterprises to IPO in Hong Kong became the focus of work, and more and more Chinese stocks "returned" to Hong Kong for secondary listing. The relevant planning of the Stock Exchange shows that it will continue to develop Hong Kong into a large global and regional enterprise for major listing or secondary listing; andraise fundsTo attract global investors interested in investing in companies in the Asia-Pacific region and mainland investors seeking international investment opportunities.

Recently, Weibo also passed the hearing of Hong Kong stocks. Netease Cloud Music officially launched the IPO, and the recovery of Internet stocks in the Hong Kong stock market may have gradually occurred.

　　Safe disposal of medical waste is an important measure to cut off the route of virus transmission and prevent secondary pollution. Since the outbreak of the COVID-19 epidemic, the wastes produced by designated medical institutions in Hubei Province have been classified, collected and treated harmlessly in strict accordance with the standards, and the whole process of disposal has been regularly supervised and enforced, keeping the last pass of epidemic prevention.

　　"Combination boxing" improves disposal ability

　　In order to ensure the timely, orderly, efficient and harmless disposal of medical wastes, according to the requirements of the Ministry of Ecology and Environment, Hubei has achieved "one special class, one capacity, one scheme and one temporary storage" to strengthen the emergency reception and disposal capacity of medical wastes.

　　While the existing disposal companies are operating at full capacity, Hubei Province has upgraded and upgraded a number of factories and facilities, which can be used as emergency disposal units at any time. Huanggang Hongyuan Pharmaceutical Co., Ltd. and Huaxin Environmental Protection Company have completed the trial operation of emergency disposal, and the incineration facilities of Shiyan Dongfeng Environmental Protection Company have been maintained and overhauled, with emergency capability.

　　In the process of medical waste transportation, it is managed by special personnel, collected in time, recorded, classified and stored, and transported by special vehicle, and special transportation tools for preventing leakage and spillage are used. Provide personal protective materials and conduct daily temperature monitoring for relevant front-line operators to ensure safety.

　　In addition, the eco-environmental system of Hubei Province regularly supervises and enforces the whole disposal process to ensure the full coverage and treatment of medical wastes. Shiyan City has carried out several rounds of special law enforcement inspections on medical wastes; Huanggang City checks the sewage treatment facilities and medical waste storage rooms of township hospitals and other medical institutions every day to block the secondary transmission.

　　According to the emergency disposal requirements of the Ministry of Ecology and Environment, all cities and states in Hubei Province have built emergency storage warehouses for medical wastes, with an emergency storage capacity of 1,552.6 tons. Seventeen temporary storage warehouses for medical wastes have been built in Wuhan, with a total storage capacity of 1,118.6 tons. The province has put into operation 35 medical waste (emergency) disposal units, with a total of 1391 front-line staff. At the same time, we actively strive to bring the support policy for medical waste disposal enterprises into the scope of the provincial government’s support for small and medium-sized enterprises to tide over the difficulties, and coordinate Xiangyang Zhongyou Youyi Company to invest 35 medical waste transport vehicles and huaxin cement Company to invest 4 vehicles to support Wuhan’s medical waste transfer work free of charge.

The staff transferred the medical waste from the tongji hospital Sino-French New Town affiliated to Huazhong University of Science and Technology. Chu Huan photo (Zhongjing vision)

　　Strictly observe the last link of epidemic prevention

　　Collection, handling and loading … … Unlike the hospital linens collected in the past, Luo Jun collected linens infected by COVID-19 virus in dozens of hospitals in Wuhan these days. Luo Jun is the head of the logistics department of Hubei Renfu Medical Service Co., Ltd., a subsidiary of Renfu Pharmaceutical Group, which mainly provides services such as washing, disinfection and distribution of medical fabrics.

　　After the linen was transported back to the company, according to the standard operation flow, Luo Jun drove the truck to the designated isolation area, unloaded it with his colleagues and sorted it, and then the colleagues pulled the sorted linen into the isolation area for sorting, washing and disinfection, and finally disinfected the vehicle.

　　In Wuhan Jiangxia First People’s Hospital, medical waste was put into the yellow trash can marked with "Medical Waste", and then transported out of the hospital’s garbage outlet and sent to the medical waste emergency treatment system. "All medical waste barrels are disinfected before leaving the hospital, and then disinfected after being shipped out." According to Zhao Yanni, the person in charge of the medical waste emergency treatment point, the medical waste collected from the ward at ordinary times will be sent to the hospital’s temporary storage, which has a disposal center and will be transported to the disposal point by a professional team. However, Wuhan’s current transportation capacity and terminal disposal capacity are tight. In this case, the medical waste collected in the ward is treated harmlessly on the spot through the medical waste emergency treatment system.

　　Disinfected medical waste barrels are placed in the temporary storage area of medical waste, and emergency treatment is carried out in batches. The medical waste emergency treatment system includes six links: feeding, sterilization, discharging, transportation and unloading. It takes about 80 minutes to load and unload. The staff pushes one barrel of medical waste to the feeding station at a time. After automatic control, lifting and tipping, the waste is poured into the sterilization trolley and enters the high-temperature sterilization chamber.

　　Sterilization is the core link of the whole system. The reporter saw in the First People’s Hospital of Jiangxia, Wuhan that the medical waste emergency treatment system entered the hospital in a whole vehicle and was disposed of at a fixed point. Wei Bin, general manager of Qidi Environmental Solid Waste and Renewable Resources Center, the provider of the system, introduced that the temperature in the sterilization chamber is above 135℃, the working pressure is 0.23 MPa, and the high-temperature steam sterilization is required to last for more than 45 minutes. After the waste is treated up to standard, it is discharged, transferred to the transportation station, placed in a sealed plastic bag, and translated to the unloading station. The treated medical waste, like domestic waste, is removed by the sanitation system and sent to the nearest waste incineration site.

　　During the epidemic period, the amount of medical waste produced in Wuhan is several times higher than before, and a number of new technologies and products for disinfection have become the main force of medical waste treatment. The "medical waste virus killing device" jointly developed by Hubei Guanghui Energy Saving Technology Co., Ltd. and Institute of Electronics, China Academy of Engineering Physics uses microwaves to irradiate the medical waste in the container, so that the medical waste can automatically heat up, which can effectively kill bacteria and viruses. The "Environmental Protection Medical Waste Incinerator" developed by Hubei Weitian Environmental Protection Technology Co., Ltd. covers an area of less than 10 square meters. It can complete desulfurization and denitrification of flue gas while burning medical waste, and can handle 2 tons to 4 tons of medical waste every day.

The staff of Huanggang Environmental Protection Bureau inspected the medical waste disposal records. Chu Huan photo (Zhongjing vision)

　　Basically realize Nissan Nissin.

　　In other cities and prefectures in Hubei, the capacity of medical waste disposal has been continuously enhanced, and the daily production has basically been achieved.

　　"At present, the daily disposal of medical waste is about 20 tons." Xu Yang, director of Xiangyang Hazardous Solid Waste Management Center, introduced that Hubei Zhongyou Youyi Environmental Protection Technology Co., Ltd. was urgently approved by the city to start the emergency disposal of medical waste. This company is a hazardous waste disposal enterprise adopting rotary kiln incineration disposal technology, with a daily disposal capacity of 30 tons to 40 tons. Together with two other disposal enterprises, it can fully meet the needs of harmless disposal of wastes generated by designated diagnosis and treatment hospitals and centralized medical observation points in the city at present, and all medical wastes can be collected, transported and disposed daily.

　　On February 14th, huaxin cement (Yichang) Co., Ltd. successfully put the second cement kiln collaborative medical waste disposal system into trial operation. So far, the emergency collaborative disposal capacity of medical waste in huaxin cement has reached 10 tons/day. Together with the original medical waste disposal capacity of Sander Company and Qiduoyun Company of 21 tons/day, Yichang has formed a disposal capacity of 31 tons/day, and all medical wastes can be collected separately, transported safely and disposed harmlessly.

　　On February 26th, Yichang started the action of cleaning and rectifying rural domestic garbage. At present, the competent departments of counties and cities in Yichang have set up special working groups, focusing on four key points: cleaning and cleaning, garbage removal, disinfection of facilities and equipment, and collection and disposal of discarded masks. According to the working mechanism of "household classification, group cleaning, village collection, town transfer and county treatment", the village environmental sanitation and cleaning operations are carried out, and the rural "combat unit" for epidemic prevention and control is strictly adhered to.

　　Wang Sihai, deputy general manager of Huanggang Longzhong Environmental Protection Co., Ltd. said that the average daily medical waste collected, transported and disposed in the city is about 15 tons, which is twice the normal disposal amount (7 tons/day) and more than three times the usual volume. "The company strictly operates the process and tries its best to maximize the disposal capacity."

　　"Although the medical waste received every day is more than usual, the company is running well, ensuring the daily production of medical waste." As the only qualified hazardous waste disposal enterprise in Xianning City, Chen Zhou, manager of the production department of Hubei Huichu Hazardous Waste Disposal Co., Ltd., told the reporter that they will definitely hold the "last link" of the epidemic prevention work of medical waste disposal. (Economic Daily-China Economic Net reporter Liu Jie correspondent Xiong Xi’ an)

　　Editor’s note:"Good health is the capital of revolution", but in busy life, people are often busy with work and eager to socialize, but they ignore good health. In fact, with a little attention and early prevention, health is around us. People’s Health Network launched the column "Know early and know early" to collect and sort out the health knowledge that you usually ignore, be your health think tank, and carry out health with you to the end!

　　How much does the kidney work every day?

　　Chen Min, chief physician of Department of Nephrology, Peking University First Hospital, and deputy director of Peking University Institute of Nephrology: The human body has two kidneys, which are located on both sides of the spine and are about the size of a fist. The "blood filtration project" needs 1.7 million to 2.4 million nephrons. Nephron consists of renal corpuscle and renal tubule, and renal corpuscle includes glomerulus and renal capsule. During the day and night, human blood has to be sieved by the kidney for 40~50 times to ensure that the waste produced by metabolism is excreted in time, and the workload is very heavy.

　　The kidney filters about 1.2 liters of blood per minute, accounting for about 24% of the cardiac output. When the blood enters the kidney, the glomerulus filters out substances such as water in the plasma; The filtered substances enter the renal capsule to form protourine, but useful components such as protein, amino acids and sugar remain. After the renal tubule "receives" the original urine, it reabsorbs the useful components, and at the same time discharges the hydrogen ions and ammonia ions that are not needed by the human body to form urine. In this process, nephron maintains the balance of water and electrolyte.

　　In addition to these, the kidney also participates in endocrine regulation, which can release a variety of hormones, such as renin, prostaglandin and erythropoietin, which can help regulate blood pressure, promote the metabolism of active vitamin D, maintain normal bone metabolism and regulate the production of red blood cells.

　　Do four things well to prevent renal failure

　　Chen Min, chief physician of Department of Nephrology, Peking University First Hospital, and deputy director of Peking University Institute of Nephrology: The onset of renal diseases is hidden and difficult to detect. If early detection and early intervention can significantly reduce the complications of patients and significantly improve the survival rate. Patients with diabetes and hypertension are the most high-risk groups of renal diseases. In addition to actively controlling blood sugar and blood pressure, such people need to pay attention to renal function regularly and regularly detect urinary protein levels and serum creatinine levels. Even healthy people should do the following to care for delicate kidneys.

　　Don’t overeat. Eating too much food at one time will not only increase the burden on the digestive system in a short time, but also produce too much metabolic waste and increase the burden on the kidneys. Long-term overeating can also induce hypertension, diabetes, etc., which will lead to secondary nephropathy. It is suggested to eat some fresh fruits and vegetables such as apples properly, which is beneficial to kidney health.

　　Avoid repeated dehydration. Repeated dehydration caused by high temperature environment is related to the increased risk of chronic renal damage. During dehydration, the secretion of angiotensin and antidiuretic hormone increases, renal blood vessels contract and urine is concentrated. If you don’t replenish water in time, dehydration will be serious and blood volume will be insufficient, which will lead to kidney hypoxia and blood flow reduction, and eventually lead to kidney damage.

　　Pay attention to the urine situation. The most intuitive manifestation of kidney problems is urine changes, such as obvious deepening of color, obvious foam and sudden increase of nocturia. In these cases, you should seek medical attention in time, especially those who are accompanied by obvious weight gain and edema, and are likely to have kidney disease.

　　Pay attention to regular physical examination. People aged 45 and above have to undergo physical examination every year. Those who have a family history of kidney disease, or have a history of diabetes, hypertension, proteinuria and gout, and often take antibiotics and nephrotoxic Chinese medicines, it is best to check once every six months to be alert to renal failure.

　　Soaking feet at nine o’clock in the evening is the best way to protect the kidney.

　　Jiang Haitao, Deputy Chief Physician, Department of Cardiology, Second Affiliated Hospital of Tianjin University of Traditional Chinese Medicine: It is most appropriate to soak your feet in warm water from 9: 00 pm to 11: 00 pm, which can attract our spirit to the lower limbs. Spirit plays a leading role in qi and blood, and qi and blood will descend if you concentrate on it. For some mental workers, it is very useful for the spirit of qi and blood to descend, because after thinking about the problem for a day, the spirit is concentrated on it, and the brain is more excited, so it is more difficult to fall asleep at night. After soaking feet in warm water, the spirit and qi and blood are easier to return, that is, to return to their base camp, and the kidney dominates the storage of essence, so it is the kidney that is replenished after collection.

　　The kidney meridian of human body starts from the first step. After soaking feet in warm water, it plays a warming role and is a benign stimulus to the kidney meridian, which will naturally play a good role in the kidney. Therefore, although no measures have been taken for the kidney, the meridian can also play a role in tonifying the kidney.

　　It should be noted that the water temperature of soaking feet must be moderate, not too hot or too cold. If the water temperature is too hot, it will not help the kidney to collect, but will make people more excited, thus increasing the consumption of kidney essence; If the water is too cold and cold, the meridians will be blocked, and the cold will enter the abdomen along the meridians, and its harm is self-evident.

　　These two conditions can cause acute renal failure.

　　1. excessive exercise. Men Wenjin, Deputy Chief Physician, Department of Nephrology, beijing jishuitan hospital: Excessive exercise may lead to acute renal failure. This is because sudden strenuous exercise is likely to cause muscle injury, which will lead to rhabdomyolysis, and then lead to the increase of myoglobin. Myosin itself will also be decomposed into nephrotoxic components in the body, which will cause further damage to renal tubules and lead to acute renal failure.

　　The common causes of soy sauce color are rhabdomyolysis and urinary system infection. It is normal to cause muscle damage during exercise, but excessive exercise causes rhabdomyolysis, myoglobin in cells enters the blood, and urine will show an abnormal dark brown color. Myoglobin is dissolved too much, which can not be discharged quickly, causing blockage in the kidney, which will lead to acute renal failure.

　　2. High voltage electric shock. Dr. Wang Bo, Emergency Department of Changping District Hospital, Beijing: High-voltage electric injuries often burn large areas of muscles, even involving bones, with large fluid loss, which is more prone to shock than general thermal burns. In addition, a large amount of hemoglobin and myoglobin are released, resulting in severe hemoglobinuria and myoglobinuria, which will lead to acute renal failure. Severe acute renal failure often requires hemodialysis according to the condition.

　　Eight signals indicate that the kidney is ill.

　　Lun Lide, Director of Nephrology Department of Air Force General Hospital: 1. Eyelid or lower limb edema: The kidney will lead to the impairment of water and electrolyte regulation function, causing the increase of water and sodium in the body, and water often accumulates in the loosest tissue or the lowest part of the body, such as eyelids or lower limbs.

　　2. Headache, fatigue, memory loss, poor sleep: Nephropathy is characterized by headache, fatigue, memory loss, poor sleep, etc., mostly caused by hypertension, especially young people who have unexplained blood pressure rise should be alert to kidney diseases.

　　3. Foamed urine: When the protein and urine sugar in urine increase, foamed urine can appear, and there is a fine foam floating on the surface of urine, which is not easy to disappear. You should be alert to proteinuria; If the bubble is large and disappears very quickly, we should be alert to whether the urine sugar rises.

　　4. Changes in urine volume: Normal people’s metabolism is slow after falling asleep, and nocturia is significantly less than that during the day. They should not urinate at night or only pass once, and the nocturia is about 1/4 ~ 1/3 of the total amount in 24 hours. If it is often more than 2 times, nocturia is more than that during the day, which may indicate renal insufficiency.

　　5. Abnormal urine test: If protein or occult blood is positive in routine urine test, it may be asymptomatic proteinuria or asymptomatic hematuria, and urine protein quantification or urine phase microscopy should be done in time.

　　6. Complications with other diseases: Many diseases are prone to kidney damage, such as hypertension, diabetes, gout and polycystic kidney disease. Patients with these diseases should have regular urine tests.

　　7. Anemia: Patients with chronic renal insufficiency above moderate degree often have anemia, fatigue, dizziness, pallor and other symptoms, which is often caused by renal insufficiency leading to decreased secretion of erythropoietin by the kidney. Therefore, in the case of unexplained anemia, besides considering blood system diseases, we should check whether there is kidney disease.

　　8. Loss of appetite: Patients with early uremia often have symptoms such as loss of appetite, nausea and itchy skin. Therefore, patients with these symptoms, especially those with hypertension and anemia, must check their renal function.

　　What needs to be emphasized here is that low back pain is not necessarily kidney disease. Low back pain, which people often say, refers to the pain of the whole back and even the lumbosacral part. There is no sensory nerve distribution in the renal parenchyma, so it is painless, and the pain in the renal area that patients feel is mostly caused by the involvement of renal capsule, ureter and renal pelvis. Some patients with nephritis and nephrotic syndrome only have slight discomfort in the waist and feel sore, and rarely have obvious low back pain. (People’s Health Network is integrated from Life Times and Health Times)

　　When she was discharged from the hospital, she took a picture at the gate of the hospital.

　　Her husband records the changes of her illness on the desk calendar every day, and the photos are provided by Piao Piao Sao.

　　Oral speaker: 53-year-old female, Piaopiaosa (net name), emergency doctor of Wuhan Eighth Hospital.

　　On February 16th, the doctor named Piao Piao Sao was discharged from the hospital and went home for 6 days. Half a month ago, she thought she would never come back.

　　Recalling the 20 days from illness to critical illness to recovery, Piao Piao sighed that "the disease developed rapidly beyond imagination". As a medical worker, she wants to remind all the patients who are being treated with her own experience that COVID-19’s clinical manifestations are diverse, with different degrees of severity, and her condition changes quite quickly, sometimes within a few hours. Early detection, early diagnosis and early treatment are the key. Especially when there is any discomfort in your body, don’t bear it. You must inform the doctor at the first time, which is probably the key point to decide life and death.

　　For hours, I was so asymptomatic that I couldn’t walk

　　I have been sitting there since the emergency department was changed into a fever clinic.

　　On the morning of January 23rd, I took my temperature as usual: normal. I ate a bowl of egg noodles and rushed to the hospital. On that day, there were still many patients.

　　At 9 o’clock in the morning, I received a notice from the hospital, asking us to take time to do a CT scan. I usually have the habit of fitness, and my health has always been very good. My colleagues call me Iron Man. But I took the CT as required. "There is something wrong with the film, 4 places!" When I got the CT results, my heart thumped and I began to think about when I was recruited.

　　I have taken my temperature every morning since I went to the fever clinic. On the 22nd, there were a lot of patients. Although they called each other, there were several patients and their families standing in front of me as soon as they entered the clinic. The head nurse was worried that the air in the clinic would not circulate, so she opened the window. I sat by the window and felt a little cold, so I closed the window. She was worried that the air in the clinic was not circulating, and I felt cold. We kept opening and closing the windows, perhaps because of the cold, or because we were too tired to work overtime for several days in a row. In short, our immunity declined. This is the only reason I can think of.

　　I don’t have a fever, and I don’t have any symptoms. I should be in the early stage. I should be able to get well soon when I go home to take medicine. I quickly diagnosed myself. I went to the pharmacy to get moxifloxacin, oseltamivir, Abidor tablets and Lianhua Qingwen capsules, and went back to the office to pack my things and go home. Feeling a little hot in my head, I took out a thermometer and measured it: 38.7 degrees. I have a fever. I decided to go home at once.

　　It only takes five or six minutes to walk from home to the hospital. When I get home, I’m going to take a bath and then sleep. Before I entered the bathroom, I began to have a severe headache and vomiting, and I had no energy at all. "I heard that you were recruited?" My brother called. "There is something wrong with taking CT, and people are a little uncomfortable. I won’t tell you first." At this time, I have no strength to hold my mobile phone, and I just want to hang up quickly.

　　My husband went back to his hometown, and I was the only one at home. At this point, my whole body is extremely weak. The disease is developing so fast that I didn’t expect it. I must go to the hospital at once. The director’s phone call came in. He was infected a week earlier than me, saying that he knew my situation and immediately sent someone to pick me up at the gate of the community. From home to the door of the community, it usually takes only two or three minutes, and I walked for more than 20 minutes that day. For the first time, I feel that the road is so difficult and long. If only someone could carry me. A doctor and two nurses in the emergency department were already waiting at the door, and they pushed me to the hospital by flat car.

　　The fever has gone down, and I thought I was getting better.

　　I was admitted to the hospital. Woke up again, it was the next afternoon, and I had a high fever for a day and a night.

　　After treatment, the body temperature dropped quickly. During my stay in the Eighth Hospital, my temperature was high and low, and I kept sweating repeatedly, and I had to change several sets of underwear a day. The most uncomfortable thing is headache and severe fatigue. The nurse came to give me an injection, and I didn’t even have the strength to raise my hand. I have no appetite at all. I only ate two or two porridge for five days in hospital.

　　On the fifth day, the results of nucleic acid test came out: positive, and I was diagnosed as COVID-19. My husband was very worried about me, so he asked someone to buy albumin and globulin for me, but my temperature never dropped to normal. On the eighth day, I was informed that I was transferred to Jinyintan Hospital in Wuhan for further treatment.

　　There were four people on a transfer car, and there was no oxygen on the car. I opened my mouth as wide as possible and kept panting. "How long will it take to get there?" We kept asking along the way, and it seemed that there was no end in sight for more than 10 minutes.

　　At 1: 00 noon on the 30th, I was admitted to an ordinary isolation ward on the second floor of Jinyintan Hospital, where the attending team was the Shanghai medical team. After hormone shock therapy, my fever dropped the next morning, my chest suddenly became clear, I felt much more comfortable and my spirit improved.

　　I breathed a sigh of relief and thought that my condition was developing in a good direction.

　　On the third day of transfer, his condition turned sharply and he was dying.

　　February 1st, 10th day of hospitalization, 3rd day of transfer.

　　No one expected that my condition would suddenly take a turn for the worse at night: I had difficulty breathing and a severe cough, as if my heart would pop out at any time after running 10 thousand meters. The heart rate is very slow, and there is an indescribable chest pain sweeping through the body. If you move a little, you will be in pain. I think this should be the second counterattack of the virus.

　　I am a doctor. According to the symptoms, I judged that I had endocarditis and pericardial effusion, so I quickly told the doctor about my situation. I vaguely heard the nurse say that "the situation is not very good, and people are dying." I don’t think I can make it tonight myself. Thinking that I might never see my husband and daughter again, I struggled to get through to my husband. "I can’t … …” Hearing this sentence, my husband cried with a "wow". Every time I say a word, my chest pains are suffocating. I can only pick the most worrying things and make a simple explanation to him.

　　Soon, the nurse came to draw blood and the doctor added medicine to me. The next day, my test results came out, pericarditis. The doctor said, fortunately, I spoke early and won valuable time for them to deal with it. My life was saved by myself.

　　After that, my situation improved day by day. On the eighth day, I felt that I had recovered almost, and applied for CT and nucleic acid examination. I heard that I wanted to leave the hospital, but my husband worried that I was not well and advised me to stay a few more days. I can’t occupy such precious medical resources. I have to make room for patients who need urgent treatment. In order to reassure him, I sent him photos of three meals a day, and also asked my patients to help me take a video of my exercise in the ward and send it to him.

　　On February 11th, I was discharged from the hospital. After life and death, it seems like a lifetime ago. When my husband came to pick me up, he specially brought the changes of my illness that he recorded for me every day for 20 days. Seeing the familiar fonts on the desk calendar, I burst into tears. Only after experiencing life and death can we know that living is really happy.

　　I’ll be isolated at home for another eight days, and then I can go to work. I am very grateful to my colleagues in the hospital for their care and support, and to all the medical staff of the Shanghai Medical Team of Jinyintan Hospital for their meticulous treatment. I want to go to the battlefield again and fight with my brothers and sisters to the end. I want to see Wuhan filled with fireworks as soon as possible. When the quarantine expires, I will donate plasma and treat more patients with my own blood. (Reporter Liu Xuan)

CCTV News:I didn’t lose my mobile phone or bank card, didn’t scan the QR code or click the SMS link, and when I woke up, the money in the bank card was gone. Some time ago, we reported the case of suspects using "sniffing" technology to steal bank cards from a distance. However, recently, Anhui police informed that several citizens in Chuzhou have encountered such a new type of online fraud.

In the early morning of July this year, Yang Xiao, a citizen of Chuzhou, Anhui Province, was awakened by the vibration of his mobile phone. In just a few minutes, he received more than a dozen SMS notifications of bank card consumption deduction. The content of the SMS showed that his bank card spent more than 50,000 yuan.

Victim Yang Xiao:The first one is 999 yuan, and then more than a dozen pens are brushed, all of which are 4999 yuan. The display time is from the early morning until after five o’clock in the morning.

At that time, Yang Xiao’s mobile phone was beside him and his bank card was not lost.

Victim Yang Xiao:The first reaction is that there is a virus in the link of the ordinary mobile phone. The mobile phone is placed next to it and the card is on the body. This kind of stolen brush has never been encountered.

After confirming that the money in the bank card was indeed brushed away, Yang Xiao rushed to the public security bureau to report the case. After reporting the case, he realized that there were already many victims like him, and the bank card was stolen late at night.

Yan Bo, Investigator of Criminal Investigation Brigade of Economic Development Branch of Chuzhou Public Security Bureau:Basically, it is from two or three o’clock at night to before six or seven o’clock in the morning. The victims are all asleep, and their mobile phones are silent and vibrating.

Chuzhou police immediately set up a task force. After several rounds of research, tracking the source of signals and the flow of funds, finally, the police locked the suspect Song, who had been transferred to Hefei, and arrested him in July. According to Song’s confession, the victim’s money was stolen by him and his associates using sniffing technology. On the day of the arrest, he was still using sniffing equipment and was ready to continue committing crimes.

Subsequently, according to Song’s confession, the police arrested all other suspects involved. At this point, a criminal gang that used "sniffing" technology to steal other people’s bank cards was uprooted.

According to the police, the most crucial link for criminal suspects to steal bank cards from a distance is that they can intercept other people’s mobile phone messages by using sniffing equipment. So how does this sniffing device work?

Suspect Song:This USB flash drive acts as a mobile interception system. Those mobile phone devices are eavesdropping devices. Because 2G is not encrypted, we are equal to being an eavesdropper. Because it is not encrypted, we can intercept it in the middle.

These seemingly crude devices in front of us are the sniffing devices used by suspects to intercept short messages from nearby residents. According to Song, as long as this device is started, the background can automatically scan the mobile phone numbers of residents within about one kilometer around. Once these mobile phone numbers are in the state of 2G network, the short messages received by residents’ mobile phones are likely to be displayed on the suspect’s computer simultaneously. Using sniffing equipment, they can intercept hundreds or even thousands of short messages a day. At the scene of the arrest, Song also gave a demonstration. About ten minutes after the sniffing device started, they received more than a dozen text messages on their computers, including mobile phone numbers, text messages and so on.

Suspect Song:Interception of mobile phone 2G SMS, or when mobile data is not turned on, has an 80% probability of interception.

Using "sniffing" equipment to intercept other people’s short messages is only the first step in committing a crime. In order to successfully steal a bank card, the suspect needs to obtain more personal information of the victim.

The reason why the suspects choose to commit crimes in the middle of the night is because most of the victims are already asleep at this time, and even if there is abnormal information on the mobile phone, it is difficult for them to find it in time. According to the police, because the suspects can intercept mobile phone messages, they use the mobile phone number+verification code to log in to some third-party software to find other personal information of the victims. However, some websites and apps still have certain technical loopholes. The suspect can easily obtain the victim’s name, ID number, bank card number, etc. by some simple hacking methods, and with the mobile phone verification code intercepted in real time, he can directly steal the money in the victim’s bank card.

It is by this means that Song and others have successfully committed more than 60 crimes in many provinces across the country in just a few months. At present, the suspect has been criminally detained by the police according to law, and the case is being further processed.

Protect personal information to prevent mobile phones from being sniffed

Using "sniffing" equipment to steal bank cards from a distance sounds terrible, but it doesn’t mean that criminals can do whatever they want. So how do we guard against it?

According to the police, in daily life, if you find that your mobile phone signal suddenly drops to 2G and you receive a short message verification code from an unknown source, it is probably scanned by criminals using sniffing equipment.

Yan Bo, Investigator of Criminal Investigation Brigade of Economic Development Branch of Chuzhou Public Security Bureau:We can temporarily turn off the mobile phone or turn on the flight mode so that our mobile phone can’t receive short messages for the time being, which makes it impossible for the sniffing device to intercept short messages in real time.

In addition, after intercepting the short message, the suspect also needs to obtain the personal information of the victim from the third-party software in order to steal the bank card. Therefore, everyone should protect their personal information, especially sensitive information such as ID number and bank card number, and don’t disclose it easily, leaving an opportunity for criminals.

　　Can be called "the first sport in the world", and the culture of football is profound.

　　According to Ge Weikun, a professor in Tsinghua University, this is exactly what China football lacks most.

　　At a speech meeting a few days ago, the old professor who studied physics unexpectedly talked about football and listed a lot of physical knowledge in football, which attracted the attention of many fans for a while.

　　As for China football, he once organized football matches for Chinese and foreign students overseas and led the team to win the championship. He put forward his own suggestions, "What we lack is football culture. Sending dozens of people out like the Jianlibao team can’t solve the problem. "

　　Physics professor studies football? You really have a doorway

　　As a senior physics professor in Tsinghua University, another identity of Ge Weikun is a fan.

　　It seems that the two fields have no intersection, but in fact they are inextricably linked.

　　As early as 2014, together with professors from other schools, he produced an open online video course called "Football and Science", and many people signed up for classes every year.

　　"Up to now, there are about 30,000 people who have participated." He told the The Paper reporter. At present, he is still working on compiling this video course into a book.

　　What made Professor Ge popular on the Internet was his knowledge of physics in football mentioned in a speech a few days ago, which was quite refreshing for fans who were used to tactical analysis.

　　And this knowledge comes from the courses he made before.

　　For example, why can Beckham’s banana ball "turn" the goal in a strange arc? In fact, it is because the rotating sphere is deflected by Magnus’ law in flight.

　　If you want to kick the "elevator ball" that suddenly falls, according to the parabola obtained by physical calculation, you need to make the ball have a high initial speed without rotating.

　　According to Ge Weikun, overseas, scholars have studied the science of football as early as ten years ago.

　　The relationship between the speed and angle of the interceptors in the middle of the interception, the average contact time of each person in a football match, the distance from the penalty to the goal and the goal rate … … All kinds of seemingly "unremarkable" data have actually been carefully studied.

　　Theory guides practice, and players can’t be "unlearned"

　　Perhaps in the eyes of fans, these academic football physics studies are not far from the actual playing — — After all, no one will measure the angle of the defender when passing the ball and then decide the passing strength.

　　But for players, these studies still have positive significance.

　　"In fact, the main purpose of (these studies) is to give a physical explanation of some phenomena in football, so as to give the technical essentials. When we understand the principle, we can know how to kick. " Ge Weikun said in an interview with The Paper.

　　"For example ‘ Elevator ball ’ , it is necessary to (let the ball) not turn, to have a high initial velocity, you need a strong calf strength. Kick ‘ Banana ball ’ , it is necessary to touch the ball on the inside of the foot to increase the friction time of the ball. Players are not required to know physics, but this is a scientific method. If the coach saw it, it should be helpful. "

　　In fact, for football, Professor Ge is really not "an armchair strategist".

　　Previously, he studied and taught overseas and lived for more than 20 years. In Britain, he played futsal with the local people, and in the United States and China, he organized a student football team to coach himself.

　　When he was in the United States, he participated in the organization of the first invitational tournament for Chinese and American student teams, and as a result, his team defeated Yale University 1-0 and won the championship.

　　In Ge Weikun’s view, football emphasizes teamwork and is definitely a sport that needs high IQ.

　　As for the cultural training of athletes, there is still room for improvement in China football.

　　"I think we may be right ‘ Football should start with dolls ’ This sentence is misunderstood, which does not mean that children should play football all the time. Coach Jin Zhiyang told me that 90% of the young players can’t enter the professional team, and they have no education and a bad future. In the end, parents dare not let their children play football, which leads to worse and worse football in China. "

　　"Japanese coach takeshi okada also said that China’s young players have insufficient cultural education and logical thinking ability. It’s ok to play football, but when you become a coach in the future, it will be insufficient, which will lead to worse teaching. "

　　Football in China is still "unhealthy".

　　Although he is over 70 years old, Ge Weikun is still full of interest in football. He is a professor of physics and a member of Tsinghua University Football Research Center. He can even try his hand on the football field.

　　Like all China fans, he is also looking forward to the rise of football in China, but he has no secret about the problem of football in China.

　　"Football should be a pyramid. It is not enough to look at the spire. Sending dozens of people out like the Jianlibao team can’t solve the problem. (Still depends on) the campus football that is widely carried out now. "

　　In the process of living overseas, he has seen the profundity of local football culture, and China football, as the Italian marshal Cannavaro said, lacks most not money, but football culture and tradition.

　　"For example, in Germany, football has become a part of their culture, just like their music. There are many old people singing very well near the church there. On weekends, I don’t know how many football matches there are. "

　　"In China, football clubs are the names of enterprises, while club names in Britain are place names with strong local awareness. For example, Manchester City, when they were not as powerful as they are now, still has a large number of diehard fans. (Fans) will not only look at the team’s achievements, but also support them even if they are relegated to the second, third and fourth leagues. "

　　Nowadays, many measures have been taken to popularize football culture in China, such as promoting campus football and social football, and increasing the number of stadium facilities. In Ge Weikun’s view, these are all positive signals.

　　However, at the moment, Professor Ge also said, "The commercial flavor of the Super League is too strong, and some of them are not healthy. Football should have a higher value than business. "

　　Recently, the General Secretary of the Supreme Leader attended the forum on cultural inheritance and development and delivered an important speech, stressing the need to adhere to integrity and innovation, to maintain the integrity and spirit of integrity and innovation, to continue the historical context and write contemporary Chinese chapters. China’s excellent traditional culture is the spiritual wealth that shines forever on China’s land. It has both the spiritual code of "where we came from" and the spiritual signpost of "where we are going". We should strengthen our cultural self-confidence, take on the mission and work hard in innovation, and continue to promote cultural prosperity, build a cultural power and build a modern civilization of the Chinese nation at a new historical starting point.

　　Defending is the foundation. Chinese excellent traditional culture is the spiritual lifeline of the Chinese nation and an important source of cultivating socialist core values. From the political ambition of "worrying about the world first, and enjoying the world later" to the patriotic feeling of "striving for the country’s life and death, why not avoid it because of misfortune and happiness", from the lofty righteousness of "wealth can’t be lewd, poverty can’t be moved, and power can’t be bent" to the sacrifice of life for righteousness of "who has never died since ancient times, keeping a fresh heart to shine on history", China’s excellent traditional culture has always inspired Chinese sons and daughters. The tree height thousands of feet has roots, and the water flow Wan Li is active. In today’s situation of profound economic and social development and changes, and diverse values, we should strengthen our historical consciousness, strengthen our cultural self-confidence, learn from classics and traditions, consciously use Bacon, an excellent Chinese traditional culture, to cast souls, enlighten our minds and moisten our hearts, and unite the spiritual strength of all people who work hard and move forward with one heart and one mind.

　　Innovation is the key. The value of culture lies not only in adhering to traditional excellent culture, but also in spreading with the times. Whether it is the popularity of variety shows such as China in Classics and National Treasures or the popularity of adapted dance programs such as Dancing for the Millennium and Only Green, it is the creative transformation and innovative development of Chinese excellent traditional culture, which makes the excellent traditional culture rooted in history shine new light in the new era. Today, facing the new situation at home and abroad, the new situation in the ideological field and the new trend of information technology development, it is more necessary than ever to innovate to inherit and carry forward the excellent Chinese traditional culture. We should rely on the power of the Internet and use market-oriented means to develop more carriers and scenes to spread excellent traditional culture, so that it can enter modern life and blend into the homes of ordinary people, and constantly create new glory of Chinese culture from "broken circle" to "out of circle" and from "alive" to "on fire".

　　Only by adhering to integrity can innovation have a clear position and direction; Only by constantly innovating and being upright can we get the source of vitality and the foundation of power. One of the important reasons why the Chinese nation has stood firm and courageously advanced in the torrent of history is that generations of Chinese sons and daughters have cultivated and developed a unique and profound Chinese culture in the process of integrity and innovation, which has provided a strong spiritual support for the Chinese nation to overcome difficulties and live endlessly. The wisdom and essence of Chinese excellent traditional culture have permeated all aspects of governing the country, from "people first, life first" to "Lucid waters and lush mountains are invaluable assets". Facing the future, we should organically combine upholding and developing Marxism with carrying forward China’s excellent traditional culture, unswervingly follow the road of Socialism with Chinese characteristics, and constantly push the cause of the Party and the country to a new level.

　　Cultural prosperity leads to national prosperity, while strong culture leads to strong nation. Firmly holding the "root" and "soul" of Chinese excellent traditional culture, always rooting in the fertile soil of Chinese culture and constantly absorbing the nourishment of innovative practice, we will surely gather the majestic cultural forces and strive to write a new chapter in building a socialist modern country in an all-round way. (Author: Lin Yunpeng)

In the competition with the same class models, it is worth mentioning in terms of space performance. Let’s take you to appreciate its style.

Let’s take a look at the appearance of the plug-in hybrid of Lingrui. The overall appearance of the plug-in hybrid front of Lingrui is unique and looks more dynamic. Coupled with simple headlights, the visual effect is still good. The car is equipped with LED daytime running lights, automatic opening and closing, adaptive far and near light, delayed closing and so on. Come to the side of the car, the car body size is 4685MM*1935MM*1710MM, the car uses simple lines, and the side circumference gives people a very fashionable and dynamic feeling. With large-sized thick-walled tires, it gives people a very simple feeling. In the design of the rear end, the rear end and the front end echo each other from a distance, and the taillight style is relatively young and individual, creating a good gas field.

In the plug-in hybrid car, the plug-in hybrid interior looks very fashionable and elegant, highlighting the hierarchical effect. The car looks very good outside the steering wheel, and it is made of genuine leather, so it feels good. Take a look at the central control. The car is equipped with a touch-sensitive LCD central control screen with young personality, which makes the interior style impressive and conforms to the mainstream aesthetics. The dashboard and seats are equally eye-catching. The car is equipped with a simple dashboard, and the information is easy to read and clear. The car uses leather seats, which are wide and thick and very comfortable to ride.

The car is equipped with car networking, driving mode selection, remote control key, Bluetooth key, NFC/RFID key, rear wiper, interior atmosphere light and other configurations, which greatly improves the convenience of using the car.

To sum up: SUV has an atmospheric appearance, good spatial performance and high cost performance. I wonder if you are interested in it.

　　Focus on cutting-edge scientific and technological innovation and upgrading of traditional industries

　　The Industrial 4.0 Revolution sweeping the world has affected almost every industry, including the supply chain management of all industries.

　　In the past, supply chain management was a headache for all industries, because the traditional supply chain involved a lot of fuzzy and inaccessible data, which swallowed up cost, time and patience like a "black hole". Industry 4.0 will give birth to a new digital supply chain and realize more complex and streamlined supply chain management.

　　Digital supply chain is an important direction of industrial solutions and business processes in the future, including not only logistics, warehousing, transportation, but also engineering, research and development, manufacturing and asset management.

　　With the application of many innovative technologies such as artificial intelligence, Internet of Things and blockchain in the supply chain, the traditional supply chain management is rapidly moving towards digitalization, intelligence and controllability.

　　1. Cross-platform asset tracking that connects everything

　　At present, GPS positioning is a mature technology with low price and low management cost, which is widely used in various fields. Through sensors connected to various assets or vehicles, the location and general time planning of assets can be obtained.

　　Enterprises can track assets through bar codes and tracking numbers, and know where products and goods are being shipped. However, this kind of tracking and monitoring is far from accurate, and it will still bring many problems and inconveniences.

　　For example, after shopping on the e-commerce platform, the logistics information shows that "the courier is delivering the goods", but we can’t know whether the courier will deliver it within the next hour or within three hours.

　　In the industrial field, this inaccurate or delayed logistics distribution will bring some confusion to the production of enterprises, and even cause the production line to stop. Especially for manufacturers who pursue zero inventory, zero inventory not only refers to the timely delivery of final products, but also includes the inventory management of raw materials and equipment needed for production.

　　Therefore, more accurate asset tracking technology will be an important direction of digital supply chain in the future. Hans Thalbauer, senior vice president of SAP, said, "We should not only create connections for goods, but also create connections for business partners. We need to connect not only suppliers, but also suppliers of suppliers. "

　　The future digital supply chain should not only connect all links in the supply chain, but also connect all factors that affect logistics distribution, such as weather, natural disasters, road infrastructure, regional economy and even political influence, so as to minimize risks.

　　For example, last year’s hurricane, which caused great damage to the American economy, affected the distribution of some suppliers’ goods, causing some automakers to shut down production. If we can get the news from the supply chain that "my supplier’s factory in Japan is affected by the earthquake and will stop production in the next two weeks", manufacturers can purchase products from suppliers in other parts of the world in time.

　　2. Timely production and forecast monitoring

　　As early as several decades ago, Toyota Motor Corporation initiated the concept of just in time to alleviate the problem of lack of cash, land and large inventory. Through the accurate management system, the response time of suppliers is shortened and the investment in process inventory is reduced.

　　But the basis of timely production is that all parts and raw materials must arrive on time. On the automobile assembly line, the shortage of any part will affect the normal production of the production line. If the distribution of parts is delayed, it may lead to product quality problems or even downtime; If the delivery is too early, the factory is not ready to receive it, which will increase the cost of inventory management.

　　In order to meet the production needs of large manufacturers, OEM will have strict delivery response time to ensure that parts can arrive at suppliers on time. However, this will bring great production pressure to suppliers. On the one hand, suppliers have to invest a lot of money in expedited transportation, and at the same time, in order to avoid the penalty of downtime caused by delayed transportation, suppliers must also maintain a certain amount of spare parts inventory.

　　Therefore, timely production can improve the production efficiency of OEM manufacturers, but it will lead to low efficiency of suppliers, thus increasing the cost of parts.

　　This requires the future digital supply chain to have the machine learning ability of real-time prediction. Through digital connection, it can realize predictive quality management, predictive manufacturing and predictive maintenance, improve the efficiency of production and distribution, and reduce costs.

　　3. Blockchain and traceability

　　The advantages of security, trust, traceability and controllability make blockchain one of the most potential new technologies. By creating a safe and transparent ledger system, all relevant stakeholders in the supply chain, such as manufacturers, retailers, logistics service providers and regulatory agencies, are brought into the same management platform, making the whole management process credible and transparent.

　　In recent years, many start-ups that use blockchain technology to reshape supply chain management have been born. At the same time, traditional logistics giants have also begun to explore the application path of blockchain.

　　For example, the shipping giant Maersk cooperated with IBM to develop the TradeLens blockchain platform, aiming at improving logistics efficiency and simplifying the documentation of global container transportation. After testing, the handling capacity of shipping documents is reduced by 10 times, and the transportation time is reduced by 40% on average. At present, nearly 100 partners around the world have joined the platform.

　　Through opening up, blockchain technology can effectively prevent price fraud, transportation delay and payment delay, eliminate middlemen and effectively reduce transaction costs.

　　In the industrial field, although the blockchain is still in the experimental and exploratory stage, once it is deeply integrated with industrial production, it will play an important role in future industrial production and digital supply chain.

　　In the future, all kinds of new technologies will allow us to look at every link of the whole supply chain more rationally from the digital point of view, and help us to continuously improve our production, analysis, maintenance and forecasting capabilities.

　　As Hans Thalbauer, Senior Vice President of Supply Chain and Internet of Things of SAP Company said, "This is a digital mirror. It is the digital twin of products, the twin of assets and a mirror of the world. This allows us to start the dynamic adjustment process. We hope to create a digital mirror image of the real world in this environment. "

This article first appeared on WeChat WeChat official account: Capital Lab. The content of the article belongs to the author’s personal opinion and does not represent Hexun.com’s position. Investors should operate accordingly, at their own risk.

On February 19th, Meituan announced that it would pay social security for full-time and stable part-time riders nationwide, which is expected to be implemented in the second quarter of 2025. Meituan said that it will continue to increase resources and capital investment and continuously improve the rider welfare treatment system.

This is another measure taken by Meituan to improve the social security of new employment groups after the online anti-fatigue mechanism and the cancellation of overtime deduction. Since July 2022, Meituan has invested 1.4 billion yuan to pay new occupational injury insurance premiums for riders in seven pilot provinces and cities, and will further cover all riders in all provinces and cities in the future.

With the steady development of the take-away industry, a relatively clear division of professional and part-time groups has been formed among new employees such as take-away riders. Many riders have become stable practitioners after accumulating relevant experience and skills. Providing all kinds of security for these stable employees is not only in line with the real interests of workers, but also conducive to the long-term development of the industry and the formation of a relatively stable and professional distribution group.

Since the beginning of the year, Meituan has continuously introduced a number of measures to strengthen the protection of new employment groups, including canceling overtime deduction and anti-fatigue mechanism on the line, and has built 16,000 rider communities in conjunction with all sectors of society to help riders smooth the distribution path.