Doing eye exercises for decades is a waste of time. Wear glasses to deepen myopia? Can online celebrity Eye Drops be used for a long time?

　　Bright eyes are fond of looking, smart and clear, and blazing with anger … As the window of the soul, people use many beautiful words to describe their eyes. However, with the change of living habits and the availability of electronic products, "small eyeball" has a "big problem". To make matters worse, there are some rumors about eyes that make things worse. June 6th this year is the 24th national "Eye Love Day". The reporter of Science and Technology Daily invited Ji ‘ang, director of ophthalmology department of Beijing Haidian Hospital, to sort out several major rumors about eyes and help prevent and treat myopia correctly.

　　Proverbs 1

　　Glasses can’t be taken off when put on, which will deepen myopia.

　　Many parents don’t want to wear glasses for their children, fearing that once they wear glasses, they can’t take them off, and they think that wearing glasses will deepen the degree of myopia.

　　In fact, on the contrary, adolescent myopia is axial myopia (the axial length exceeds the normal development length, causing distant objects to focus in front of the retina, and the retinal imaging is blurred to form myopia). Based on the current medical technology, axial myopia is irreversible and can only be controlled. Myopia without wearing glasses will inevitably lead to excessive eye adjustment and efforts to see clearly. As a result, it can only make eye adjustment spasm and visual fatigue worse, and then promote the deepening of myopia. The younger a child has myopia, the more likely he is to develop high myopia, and a pair of timely and appropriate glasses is very important to control myopia.

　　If children are found to be nearsighted, they can relieve their visual fatigue to a certain extent after optometry and glasses fitting in the hospital in time. Then, the development of myopia can be controlled by improving their eye habits, using their eyes for 30 minutes at close range, taking breaks for 5 to 10 minutes, ensuring indoor reading lighting and appropriately increasing outdoor activities (2 hours a day). Generally speaking, the annual progress of juvenile myopia is about 0.50D(50 degrees), which is basically the result of normal development. If it exceeds 1.00D(100 degrees), it is necessary to strengthen prevention and control measures.

　　Proverbs 2

　　Online celebrity eye drops have excellent effect and can be used for a long time.

　　The pursuit of bright eyes makes many people who love beauty pursue online celebrity eye drops with the same model, thinking that such eye drops can instantly relieve eye fatigue and fade red blood, which is beneficial to eyes after long-term use.

　　But is this really the case?

　　The main components of this kind of eye drops include naphazoline hydrochloride, oxymetazoline hydrochloride, tetrahydrozoline hydrochloride, chlorphenamine maleate, chondroitin sulfate sodium and menthol.

　　The reason why eye drops can remove red bloodshot is because the main component contains "adrenergic receptor agonist", which can effectively contract blood vessels and reduce eye congestion. Red blood goes away quickly, but it will come back. Long-term use will not only lead to dependence (if it is not red), but also lead to dilated pupils and dilated blood vessels (if the red blood is heavier), which may even lead to glaucoma. After being absorbed by nasal mucosa, these components will act on the whole body blood vessels, which will increase blood pressure and aggravate cardiovascular or endocrine diseases.

　　Preservatives in eye drops are also harmful to eyes. Generally, eye drops need preservatives because of repeated use. Many preservatives are harmful to the eye surface to a certain extent. If preservatives meet the national standards and are used for a short time, they will not cause permanent damage. However, if they are used for a long time, it is tantamount to killing the goose that lays the golden egg to relieve eye fatigue.

　　The principle of eye protection applicable to any crowd is not to overuse eyes for a long time. Generally, reading or using electronic products takes about half an hour. You should close your eyes and rest, blink or overlook for 5 to 10 minutes, and feel dry eyes. Artificial tears without preservatives are recommended.

　　Proverbs 3

　　Mydriasis optometry is harmful to eyes.

　　A more accurate name for mydriasis optometry is "cycloplegia optometry", which is an internationally recognized gold standard for diagnosing myopia.

　　Teenagers must have full mydriasis optometry for the first time. Theoretically, ciliary muscle accommodation exists in the eyes of people under 40 years old. The younger they are, the stronger the ciliary muscle accommodation is, and the degree of glasses given without mydriasis optometry is far greater than its actual degree. Even a considerable number of children have myopia of one or two hundred degrees by direct optometry. After full mydriasis, their vision is 1.0, but there is no myopia.

　　At present, the main cycloplegics used in clinic are: 1% atropine eye drops or eye ointment (long-acting for 21 days), 1% cyproterone hydrochloride eye drops (medium-acting for 3 days) and 0.5% compound tropicamide eye drops (short-acting for 6-8 hours). For children under the age of 12, it is strongly recommended to use 1% atropine for continuous eye drops for 3-4 days and then go to the hospital for optometry. After 3 weeks, the pupil will return to normal and the final optometry result will be confirmed.

　　Because there is photophobia and blurred vision during mydriasis, it is not recommended to read and write, so parents must pay close attention to their children’s vision and try to go to the hospital at the beginning of winter and summer vacations.

　　The optometry results after paralyzing ciliary muscle can make doctors know the ametropia of this eye with minimum deviation, and operating according to the regulations will not only damage the eyes, but also help to control the development of myopia.

　　Proverbs 4

　　Doing eye exercises can’t improve eyesight.

　　There is an online rumor that "doing eye exercises can’t improve vision, but many students massage with dirty hands, which leads to pinkeye and eye infection." Is it a waste of time to do eye exercises for decades?

　　Whether eye exercises are useful or not depends on its origin. On January 7, 1959, the Chinese Journal of Ophthalmology published the article "Preliminary Experience of Massage in Treating 49 Cases of Myopia". According to the memory of the old experts who participated in it, the Shanghai branch of the Chinese Medical Association conducted myopia research and carried out eye exercises in Shanghai.

　　At that time, it was clear that eye exercises can make students rest their eyes and relieve visual fatigue, but they can’t treat the high myopia that adults have already set. On the one hand, when doing eye exercises, closing your eyes can make your eyes rest properly; On the other hand, massaging the acupoints around the eyes can dredge the meridians, improve and promote the blood circulation of the eyes, and eliminate and adjust the eye tension; In addition, eye exercises and soothing music can also relieve mental stress to some extent.

　　In recent years, some researchers have conducted a study on the intervention of eye exercises on young people with mild myopia, and observed the changes of vision with the international standard eye chart two months later. The results show that the effective rate of eye exercises in the intervention of mild myopia is as high as 85.4%. According to an article published in Medical Theory and Practice, similar results were observed in the experiment on the prevention effect of new eye exercises on students’ low vision, and the total effective rate of new eye exercises was 86.4%.

　　Proverbs 5

　　Eye patch, massage instrument and functional glasses can cure myopia.

　　Various eye patches, eye masks, massagers, physiotherapists, functional glasses and other products that claim to cure myopia emerge one after another. Many people are confused by the advertisements of merchants, thinking that these products can cure myopia as long as they are used for a long time.

　　In fact, axial myopia is irreversible, which means that axial myopia cannot be cured and can only delay its development. When teenagers have axial myopia, they all have the illusion of exceeding the actual myopia degree to a certain extent due to accommodation spasm. It can be improved by correct mydriasis optometry or proper rest under the guidance of doctors. Many illegal organizations and businesses use this simple medical knowledge to over-publicize the concept of curing pseudomyopia.

　　Take the eye patch as an example. National Medical Products Administration has never approved any eye patch with myopia treatment effect. If consumers go online to check their production batch numbers and functional applicability, they will find the rhetoric of unscrupulous merchants stealing the concept. Therefore, consumers are advised to check whether the products have been approved as medicines and medical devices, and whether they have obtained the approval of medical devices before deciding whether to buy them.

　　Recently, China Internet Network Information Center (CNNIC) released the Blue Book of Internet Assisting Digital Consumption Development (hereinafter referred to as the Blue Book). The Blue Book shows that the Internet continues to play an active role in promoting the development of new consumption patterns, driving the formation of new consumption hotspots, and promoting the rise of new consumer groups, helping digital consumption to become an important engine for expanding domestic demand and promoting high-quality economic development.

　　At present, the number of online shopping users in China has exceeded 900 million, and the number of users who buy domestic "fashionable goods" and green goods has reached 530 million and 230 million respectively.

　　The growth point of digital consumption is constantly emerging.

　　The development of Internet technology has promoted the expansion of consumption scenes from offline to online, and the objects of consumption have expanded from physical objects to digital products and contents, which has also accelerated the formation of a large number of new consumption growth points such as domestic "trendy" consumption and entertainment and tourism consumption.

　　The consumption performance of domestic "trendy products" is bright. Among the online shopping users, nearly 60% have bought domestic "trendy products", and 66.5% of domestic "trendy products" users believe that the quality of domestic products has not lost to foreign brands.

　　During the "618" period, among the top ten brands in online retail sales, domestic brands occupied six seats, and the sales of "new Chinese" related products increased significantly.

　　The consumption of recreational tourism has increased rapidly. By creating IP hotspots of cultural tourism, the short video platform will drive unpopular tourism such as "county tour" and "small town tour" to continue to heat up, and promote new scenes of cultural tourism consumption such as "city stroll", "camping economy" and "night economy" to emerge constantly.

　　According to the data in the Blue Book, the number of online travel booking users in China has exceeded 500 million, a year-on-year increase of more than 20%. From January to April this year, online travel consumption increased by 77.6%. The total spending of domestic tourists during the May 1 holiday increased by 12.7% year-on-year, and by 13.5% compared with the same period in 2019.

　　Digital consumer groups are constantly rising.

　　As the Internet technology dividend continues to benefit all people, the digital consumer groups continue to break the restrictions of age, gender, region and other factors, and new digital consumption forces such as "post-90 s", "post-00 s", "silver-haired people", female groups and rural groups have emerged.

　　"Post-90s" and "post-00s" are the main force of digital consumption, with the utilization rate of online shopping reaching 95.1% and 88.5% respectively, and they are active in the fields of personalized consumption, domestic consumption and intelligent consumption.

　　"Silver-haired people" are the growth poles of digital consumption. The online shopping rate of silver-haired netizens aged 60 and above in China is 69.8%. "Silver-haired people" are relatively prominent in the consumption of health care, entertainment and tourism, and the trend of healthy and enjoyable consumption is obvious.

　　Women are an important group of digital consumption. According to the data in the Blue Book, the online shopping rate of women is 85.4%, and their consumption in beauty care, clothing, gold and silver jewelry and other categories is more prominent. The online shopping ratio is 27.9, 8.1 and 2.8 percentage points higher than that of men.

　　Rural netizens are the potential power of digital consumption. The online consumption ability of rural netizens has been continuously enhanced, and the proportion of online shopping has reached 76.7%; Rural netizens are more keen on shopping on short video platforms, and the usage ratio is 1.2 percentage points higher than that of urban netizens.

　　Digital consumption creates a new way of life

　　With the development of Internet technology, new consumption patterns such as green consumption, healthy consumption and intelligent consumption are constantly shaping people’s lifestyles.

　　The concept of green consumption has gradually entered the hearts of the people. According to the data in the Blue Book, 25% of online shopping users have bought green energy-saving products in the past six months. New energy vehicles have become an important growth engine, and the production and sales of new energy vehicles in China have ranked first in the world for nine consecutive years.

　　The demand for healthy consumption is constantly emerging. Users who have purchased health and wellness products account for 26.1% of online shopping users. With the concept of healthy living being paid more and more attention, healthy products and technologies continue to break through innovation, which accelerates the release of healthy consumer market demand.

　　The intelligent trend of home appliances is obvious. Users who have purchased smart home products account for 25% of online shopping users. Smart life brings convenience, health, safety, intelligence, energy saving and low carbon, which can better meet people’s needs for a better life.

　　Technological innovation drives digital consumption to flourish.

　　Chen Jing, a senior analyst at China Internet Network Information Center, said that with the rapid development and application of digital technologies such as the Internet, big data and artificial intelligence, the time and space boundaries of consumption have been continuously broken and consumption scenarios have been innovated, providing technical support for digital consumption. Relying on the new mode and new scene promoted by the Internet and digital technology, digital consumption has flourished and become an important force driving consumption growth.

　　First, the live broadcast and short video e-commerce model promotes consumption transformation. Among the users who watched the short video/live broadcast, 71.2% users bought goods because of watching the short video/live broadcast, and 53.7% users often watched the live broadcast with goods. 31.9% of online shopping users said that "consumption decisions will be greatly influenced by short videos, live broadcasts and social platforms". The mode of live broadcast, short video and content e-commerce is becoming an important factor affecting the decision-making of digital consumption, forming a decision-making path of "planting grass", placing orders and sharing.

　　Second, the instant retail model expands the consumption boundary of life services. In the last six months, users who bought instant delivery such as "Tongcheng Da" accounted for 26.4% of online shopping users. Instant retail consumption expands the consumption boundary from fixed places to various dynamic scenes such as parks and on the way to work by tapping the consumption potential of supermarkets, delivering medicines, buying vegetables and running errands, which meets the instant consumption demand of the "15-minute" convenience life service circle, expands the service scope of physical stores and allows consumers to enjoy convenient life.

　　Third, cross-border e-commerce and rural e-commerce models have unblocked international and domestic markets. In the first quarter of 2024, the import and export volume of cross-border e-commerce in China was 577.6 billion yuan, a year-on-year increase of 9.6%, of which cross-border imports were 129.6 billion yuan. Overseas quality products reach more consumers through cross-border e-commerce platforms, allowing consumers to easily "buy the world" at home. In the first quarter, the online retail sales of rural areas exceeded 570 billion yuan, an increase of 12.1%, and the online retail sales of agricultural products increased by 28.2%. The continuous improvement of e-commerce network and logistics system provides support for rural residents’ digital consumption and further activates the rural big market. At the same time, rural e-commerce helps agricultural products to go up and increase farmers’ income by means of "production and sowing" and "ground sowing". (Reporter Cao Yali)

　　Transferred from: china industry news

　　[Copyright and Disclaimer] All copyrighted works belonging to this website must be authorized to reprint and indicate the source of "China Industrial Economic Information Network". Otherwise, this website will reserve the right to pursue its relevant legal responsibilities. Reprinted articles and corporate publicity information only represent the author’s personal views, not the views and positions of this website. Please contact: 010-65363056 for copyright matters.

Extended reading

With the rapid development of science and technology, financial technology is reshaping the banking industry with a rapid trend. The integration of banking and financial technology has not only changed the operation mode and service mode of banks, but also brought new investment opportunities for investors.

First of all, in the field of payment, the rise of mobile payment and digital wallet makes payment more convenient and efficient. In cooperation with financial technology companies, banks have launched various innovative payment solutions, such as QR code payment, fingerprint payment, and face-brushing payment. The popularity of these payment methods not only improves the payment experience of consumers, but also brings huge business opportunities for payment service providers. Investors can pay attention to those enterprises that have advantages in payment technology research and development and payment platform operation, such as the technology companies behind Alipay and WeChat payment, and enterprises that provide payment security solutions.

Secondly, credit business is also an important field of integration of banking and financial technology. Financial technology companies use big data, artificial intelligence and other technologies to evaluate the credit status of borrowers more accurately, which reduces the credit risk. At the same time, the emergence of online credit platform makes the loan application and approval process more convenient and improves the credit efficiency. Investors can pay attention to financial technology companies that focus on online credit business and have advanced risk control technology, as well as enterprises that cooperate with banks to carry out joint loan business.

Furthermore, the field of wealth management has also undergone profound changes due to the integration of financial technology. As a new wealth management service model, intelligent investment provides investors with personalized investment suggestions and asset allocation schemes by using algorithms and models. This service mode not only lowers the threshold of wealth management, but also improves the scientific nature of investment decision. Investors can pay attention to those enterprises that have advantages in smart investment technology research and development and wealth management platform operation.

In addition, the application of blockchain technology in the banking field has also brought new possibilities for investment. The decentralized and tamper-proof characteristics of blockchain have significantly improved the business efficiency of banks in cross-border payment, trade finance, supply chain finance and other fields. Investors can pay attention to those enterprises that have a leading position in blockchain technology research and development and blockchain application scenario expansion.

In order to compare investment opportunities in different fields more intuitively, the following is a simple table:

This paper is generated by AI algorithm, for reference only, and does not involve investment advice, so it is used at your own risk.

[Disclaimer] This article only represents the author’s own views and has nothing to do with Hexun. Hexun.com is neutral about the statements and opinions in this article, and does not provide any express or implied guarantee for the accuracy, reliability or completeness of the contents. Readers are requested for reference only, and please take full responsibility. Email: news_center@staff.hexun.com.

A few days ago,The new car of Zero Run Automobile-2024 modelZero run C10Officially listed. The new car offers 7 models with 2 power systems, and the price is 128,800-168,800 yuan. As the first zero-run car model facing the global market, the new car locates a medium-sized SUV, which is built on the basis of the "four-leaf clover" central integrated electronic and electrical architecture. At the same time, it also provides intelligent technology configurations such as lidar, Qualcomm Snapdragon 8295 on-board chip, lidar, and high-order assisted driving system.

In terms of power system,Zero run C10There are two kinds of drive systems: pure electric (rear single motor) and 1.5L extended range hybrid (rear single motor). The maximum power of the drive motors is 170KW, and the pure electric cruising range under CLTC conditions is 210 km (extended range version), 410 km (pure electric version) and 530 km (pure electric version).

Section 2024Zero Run C10 Extended Range Edition

Section 2024Zero-run C10 pure electric version

Section 2024Zero run C10There are 7 models with 2 powertrains, including 3 extended-range models (210 Comfort Edition, 210 Smart Edition and 210 Smart Driving Edition), and the price is 135,800-165,800 yuan; Four pure electric models (410 Comfort Edition, 530 Comfort Edition, 530 Smart Edition and 530 Smart Driving Edition) are priced at RMB 128,800-168,800.

Section 2024Zero Run C10 Extended Range Edition

In the design part, the zero run C10 extended range version and the pure electric version adopt the same design language. Specifically, the front face of the new car uses a semi-closed design and is also equipped with a penetrating headlight group. At the same time, the bottom of the front enclosure is also added with a penetrating blackened decoration+air inlet to enhance the vitality and dynamic atmosphere of the front face.

In addition, the intelligent driving version is also equipped with one above the front windshield.128 wire harnessLidar (Provided by hesai technology）。

The body size of the zero-run C10 is 4739x1900x1680mm, and the wheelbase is 2825mm. It is a medium-sized SUV.

In addition, the new car is equipped with 18-inch wheels (front 235/55 R18 and rear 235/60 R18), and 20-inch Trident wheels (245/45 R20) are also optional.

In the rear part, a penetrating taillight group is used at the C10 tail of zero run, and a spoiler+high-position brake light is added above the rear windshield. In addition, reflective light strips are arranged on the left and right sides of the rear enclosure, and blackened decorative pieces are added at the bottom to enhance the sporty atmosphere of the rear.

In the interior design part, the zero-run C10 center console area is equipped with a double-amplitude flat-bottomed steering wheel, a 10.25-inch LCD instrument panel and a 14.6-inch suspended central control panel.

At the same time, the new car also uses a gear shifting mechanism, and the whole system comes standard with a built-in driving recorder and a 15W mobile phone for wireless charging.

In terms of configuration, the zero run C10 is equipped withLeapmotor OS car system (8155 chip for Shuxiang version, 8295 chip for Zhixiang version and Zhijia version); Leapmotor Pilot assisted driving system (the intelligent driving version is equipped with NVIDIA DRIVE Orin X chip to provide a higher level intelligent driving system).

The intelligent driving version is equipped with 30 auxiliary driving hardware, including 12 cameras, 5 millimeter-wave radars, 12 ultrasonic radars, and 1 laser radar. With the help of NVIDIA’s Orin X chip (computing power of 254TOPS), the intelligent driving version supports urban/high-speed NAP navigation (it can be extended to L3 intelligent driving ability through OTA upgrade).

In the seat part, the car adopts a five-seat layout, and the seat is wrapped with imitation leather material.

In terms of seat functionality, the new car provides electric adjustment of the front seat, while the smart version and the smart version also support the memory function of the main driver’s seat.

In the power unit, C10 provides pure electric power (rear single motor, 170 kW); 1.5L extended range hybrid (rear single motor, 170KW).

In terms of battery life, the extended-range model is matched with a 28.4kWh lithium iron phosphate battery pack (the pure electric cruising range of CLTC is 210 kilometers, and the comprehensive cruising range of CLTC can reach 1190 kilometers); The pure electric version is matched with 52.9kWh and 69.9kWh lithium iron phosphate batteries (the pure electric cruising range of CLTC is 410 km and 530 km respectively).

CCTV News:Recently, the latest Global Economic Outlook report released by the World Bank pointed out that the world economy will remain in a downturn in the first half of 2021 due to the continuous spread of the COVID-19 epidemic.

At the report seminar held by the Globalization Think Tank on 13th, the head of the World Bank pointed out that the decline in investment and the increase in debt are the main impacts of the current COVID-19 epidemic on the economies of various countries, and China’s economic recovery is unique in East Asia, which has driven the economic recovery of the world, especially in East Asia and new economies.

Before the outbreak of COVID-19, the World Bank had already lowered its forecast for global economic growth in the decade from 2020. The World Bank said that its forecast for 2021 was 0.2 percentage points lower than that made in June 2020. The World Bank believes that the uncertainty caused by the epidemic is reducing global trade and investment.

Ayhan Gauss, Acting Vice President of the World Bank:Judging from the performance of countries in the past period, the world economy is worse than what we predicted in June 2020. After the outbreak, some countries’ improper measures to stimulate the economy led to a leap in debt growth, and some low-income countries even reached 300— 400%, which has never happened since 1997. Due to mobility restrictions, the income ratio of investment has decreased significantly, and global investment has dropped sharply. At the same time, people’s consumption patterns have also changed after the epidemic, which has had a great impact on the economies of countries that are particularly dependent on tourism.

According to the World Bank, China may become the only major economy to escape the economic downturn in 2020. The World Bank predicts that China’s GDP growth is expected to reach 7.9% in 2021. Meanwhile, driven by China, the economies of emerging market economies will grow by 5% in the new year, which is higher than the previous forecast of 4.6%.　　　　　　　　　　　　　　　 　
　　　　　　 Not long ago, the Central Economic Work Conference held in Beijing pointed out that in 2021, China will continue to implement a proactive fiscal policy and a prudent monetary policy, take the initiative in promoting scientific and technological innovation, accelerating economic restructuring, and adjusting income distribution, and accelerate the construction of a new development pattern with the domestic macro-cycle as the main body and the domestic and international dual-cycle promoting each other. The recovery of China has provided experience for the sustainable economic development of various countries after the epidemic.　　　　　　　

Director of World Bank China, South Korea and Mongolia Rui Ze:China is a "V-shaped" recovery, while other countries are "L-shaped" recovery. China’s investment and trade volume remained stable in the context of the global investment downturn. China regards consumption as the main engine of growth, while continuing to invest in infrastructure. In addition, China has continuously promoted digitalization in the fields of finance and consumption, and this recovery model has provided experience for countries’ sustainable economic development after the epidemic. It should also be noted that compared with other countries, China’s manufacturing industry is mature, especially in the field of medical equipment. China has not only ensured its own demand, but also been able to put medical materials into the world, which has contributed to the world while ensuring China’s steady recovery.

　　On February 21st, reporter The Paper learned from Changsha Public Security Bureau’s WeChat public account "Changsha Network and Information Security Information Notification Center" that at 10: 29 am on February 20th, the network technology detachment of Changsha Public Security Bureau found that the homepage of the portal website of Changsha Municipal Bureau of Quality and Technical Supervision of Changsha Municipal Bureau of Market Supervision was implanted with pornographic pages (website domain name: www.cs315.gov.cn). The Network Technology Detachment of the Municipal Public Security Bureau immediately started the emergency procedure of Changsha Network and Information Security Information Notification Center, issued a notification and handled it quickly. At 11: 05 on the same day, the security incident of the portal website was successfully lifted and the normal page was restored, which took only over 30 minutes. Eliminate hidden dangers in time and avoid adverse social impact. At present, the network technology detachment of Changsha Municipal Public Security Bureau has ordered Changsha Municipal Market Supervision Bureau to change the management background password, the operating system virus application system webshell and implement the relevant system of grade protection.

　　According to the investigation, the name of the tampered website is "Changsha Municipal Bureau of Quality and Technical Supervision", which is managed by the newly established Changsha Municipal Market Supervision Administration and was developed in 2008. There is a loophole in uploading files in the background editor of the portal website, and the technicians of the company have not carried out daily maintenance since January, resulting in the yellow pages being uploaded to the portal website of the company.

　　Since the beginning of this year, four units in Changsha notified by the Ministry of Public Security have hidden dangers of network security caused by page tampering. The network technology detachment of the Municipal Public Security Bureau organized the work.It was found that only one day on February 20th, there were many incidents of uploading files using loopholes in China, all of which were implanted into portal pages and jumped to the same yellow website. Judging from this, this is a premeditated information system destruction activity, and the website of government departments is their important target. If the prevention is not effective, it will have a great negative impact on the website of government departments.

　　Changsha police said that after receiving the notification, all units should attach great importance to it, report it to the competent leader as soon as possible, immediately deploy and carry out self-examination, and do a solid job in daily protection, especially in network security monitoring during the "two sessions" and resolutely put an end to such incidents. Any network security incident found in daily monitoring should be reported to Changsha Network and Information Security Information Notification Center as soon as possible. If you encounter corresponding technical problems in your work, please contact the Network Technology Detachment of Changsha Public Security Bureau.

Mechanical mammoths cooperate with mobile phone instructions to make various movements, and robots dance with music … Chenghai, the "toy capital", has started production lines in many toy factories since the fifth day of the Lunar New Year. With the blessing of emerging technologies such as 5G, AI and big data, Shantou’s traditional toy industry has taken on a new look.

In the real economy, traditional industries are the home and the basic dish, which is related to the people’s food, clothing, housing and transportation; Emerging industries are growth points and poles, holding the key to the future.

However, in recent years, some areas have paid attention to cultivating and developing emerging industries while ignoring the optimization and upgrading of traditional industries, which has led to problems such as poor conversion between old and new kinetic energy and slow growth of manufacturing industry. Traditional industries are even misunderstood as "sunset industries".

As a big economic province, how can Guangdong maximize the resonance of traditional emerging industries and promote high-quality economic development?

How do traditional industries change?

Traditional industries still maintain the main position of Guangdong’s real economy and are important areas with competitive advantages.

Taking the traditional manufacturing industry as an example, the data shows that the traditional manufacturing industry has contributed about 1/3 of the operating income and 30% of the total profit to the province’s regulated manufacturing industry.

For example, "Pearl River Water, Guangdong Grain, Lingnan Clothes and Guangdong Household Appliances" have created a miracle of rapid growth of Guangdong’s manufacturing industry.

But these traditional industries are now inevitably at the moment of transformation-

Low-end supply surplus and high-end supply shortage coexist, innovation ability is not strong, industrial foundation is not firm, resource constraints are tightening, factor costs are rising, and consolidating and enhancing competitive advantage is facing great challenges.

How to transform traditional industries? The emphasis is on innovation.

At present, Guangdong’s traditional industries are constantly shaping new competitive advantages with scientific and technological innovation, comprehensively transforming and upgrading traditional industries, promoting the development of traditional pillar industries to green and high-end, and enhancing the status and competitiveness of traditional industries in the global industrial division of labor.

Look at "wisdom" first. In Huawei Songshan Lake South Factory, based on Guangdong Mobile’s 5G private network, the factory can complete automatic inspection of defective points, reduce a lot of repetitive work and help save production costs by 75%; The eight production lines of Jianlibao Foshan Sanshui Factory have been fully automated, with a maximum production capacity of 2,000 cans per minute.

Look at the "green content". By developing different digital models, Weida Paper has greatly improved the steam utilization rate in the papermaking process and got rid of the name of "big energy consumer". Compared with ordinary laundry detergent, the laundry beads developed by Libai, an old daily chemical enterprise, can reduce carbon by 40% every time clothes are washed.

There is also "gold content". Maoming, the "Tilapia Capital of China", cooperated with Guangdong Mobile to realize the networked, digital and intelligent management of tilapia farming, which increased farmers’ income by 30% and drove 17,000 fishermen to increase their income by 20,000 yuan per capita.

Traditional industries are becoming less and less traditional.

Huawei Dongguan Base, located at Songshan Lake. South+reporter Sun Junjie photo

How strong are emerging industries?

If traditional industries have laid a solid foundation for economic development, then strategic emerging industries are the key to winning the future.

In recent years, Guangdong has cultivated and expanded strategic emerging industrial clusters and continuously gathered new kinetic energy for high-quality economic development. Statistics show that the added value of Guangdong’s new economy in the first half of 2023 was 1.42 trillion yuan, up 10.5% year-on-year, accounting for 24.8% of the regional GDP.

Among them, the field of new energy vehicles in Guangdong has the most outstanding performance.

Today, one out of every four new energy vehicles in China is "made in Guangdong". Driven by new energy vehicles, the automobile industry has become the eighth trillion industrial cluster in Guangdong.

More and more Guangdong new energy vehicles are heading for every corner of the world. The data shows that in 2023, Guangdong exported 3.56 trillion yuan of mechanical and electrical products, accounting for 65.4% of the total export value; Among them, the export of electric vehicles increased by 229%.

From the traditional to the emerging track, Guangdong car companies are chasing each other and playing hot.

BYD has more than 4,000 intelligent driving teams, of which more than 3,000 are software engineers. Guangzhou Automobile Ai ‘an has successively released quark electric drive, 5C flash charging technology, magazine battery 2.0 and other technical achievements, realizing self-research and self-production of the whole battery stack, and its intelligent ecological factory has been selected as the only new energy vehicle "Lighthouse Factory" in the world; The land-air integrated flying car from Huitian, Tucki became the star product at the Consumer Electronics Show in 2024.

On the other hand, low-altitude economy-related industries are also rising rapidly, becoming the representative of new quality productivity.

In the field, DJI agricultural drones are performing a series of tasks such as sowing, pollination and fertilizer spreading in the air; In the residential area, one after another Meituan unmanned aerial vehicle (UAV) returned home with a full load and was flying to the intelligent airdrop cabinet under the command of the background system …

According to the data released by Guangdong-Hong Kong-Macao Greater Bay Area Digital Economy Research Institute, it is estimated that by 2025, the comprehensive contribution of low-altitude economy to China’s national economy will reach 3 trillion to 5 trillion yuan.

There are still more industrial clusters that are developing. From humanoid robots to bio-manufacturing and commercial aerospace, Guangdong is exploring trillions of emerging industries and forming new industrial clusters.

With the vigorous development of emerging industries, the development pattern of new technologies and new formats in the province will also be accelerated, and the industrial map of advanced manufacturing industries in Guangdong will be clearer.

The assembly workshop of Guangzhou Automobile Ai ‘an New Energy Vehicle is being installed. Southern+reporter Xu Shuzhi Intern Luo Yuxi photo

What is the connection between the old and the new?

Of course, we should also realize that there are still many challenges ahead of opportunities.

Internally, there are still shortcomings and deficiencies in the development of emerging industries, and the modernization level of industrial chain, supply chain and value chain needs to be improved. Outward, the world’s century-old changes have accelerated, and the complexity, severity and uncertainty of the external environment still exist.

How does Guangdong grasp the critical period of economic transformation and upgrading? The provincial government work report gives the answer-

Handle the relationship between "standing" and "breaking" well, and stand first, stand first and then break.

The so-called "standing" means accelerating the cultivation of new growth points, promoting new kinetic energy to see practical results, and developing new quality productivity.

Take Shenzhen as an example. In 2023, relevant local documents were issued, focusing on the development of 20 strategic emerging industrial clusters with advanced manufacturing as the main body.

In the first three quarters of 2023, the added value of strategic emerging industries in Shenzhen reached 1,039.339 billion yuan, an increase of 8.3%, accounting for 42.5% of GDP.

The so-called "breaking" is to do a good job of connecting and switching between old and new kinetic energy and stabilize the traditional engine of economic growth.

In Zhouming Technology Daya Bay Manufacturing Base, human-computer intelligent interaction, industrial robots, intelligent logistics management and other technologies and equipment make the base a highland for global LED screen production. The quality stability of the process is improved by 80%, the production efficiency is improved by 50%, the logistics transfer efficiency is improved by 60%, and the storage area utilization rate is improved by 350%.

To deal with the relationship between "establishment" and "breaking", we must adhere to the integration and development of emerging industries and traditional industries and work together.

The rise of Xiyin, the "first unicorn in fashion circle" in Guangzhou, is a strong proof.

Through the large-scale application of the on-demand production mode of "small order, test and then counter-order", Xiyin effectively reduces inventory and waste, improves the overall efficiency of the industry, and provides a model for innovative practice for the transformation of traditional clothing industry into fashion industry for sustainable development.

Just last year, Xiyin moved the Bay Area Supply Chain Headquarters project to Guangzhou. Behind this big move, the trillion-dollar fashion industry cluster in Guangdong, represented by the textile and garment industry, has vitality only if it is rooted in the manufacturing cluster.

Traditional industries are not equal to low-end industries, let alone sunset industries. Guangdong’s traditional advantageous industries such as papermaking, ceramics and food are also sunrise industries after the baptism of digital transformation.

Adhere to the simultaneous development of incremental rise and stock change, and do a good job in cultivating and expanding emerging industries and transforming and upgrading traditional industries. Guangdong will stir up strong upward and forward momentum through the change of new and old!

Topic researcher Gao Xiaoping Gong Qianshu Yao Yi Zhou Zhongyu Liu Qian Xu Juan Ye Dan Chen Mingshi

　　Xinhua News Agency, Xi ‘an, May 18th

Joint statement of People’s Republic of China (PRC) and the Republic of Tajikistan

　　1. At the invitation of the Supreme Leader of President People’s Republic of China (PRC), President emomali rakhmon of the Republic of Tajikistan paid a state visit to People’s Republic of China (PRC) from May 16 to 19, 2023. The two heads of state held talks in a cordial and friendly atmosphere and exchanged in-depth views on mutually beneficial cooperation in various fields and international and regional issues of common concern.

　　二、双方高度评价两国建交31年来各领域合作取得的丰硕成果，一致认为，双方签署的各联合声明、联合宣言和条约为两国关系发展奠定了坚实的法律基础。双方将在相互尊重、睦邻友好、同舟共济、互利共赢原则指引下，在遵守国际法准则和尊重彼此利益的原则基础上，继续深化政治互信，拓展务实合作，夯实传统友谊。基于两国高水平合作和深化双边关系的共同愿望，双方致力于构建世代友好、休戚与共、互利共赢的命运共同体。

　　三、双方强调，中塔正处于国家发展和民族复兴的关键时期。塔方热烈祝贺中国共产党第二十次全国代表大会取得圆满成功、最高领袖主席当选连任中共中央总书记和国家主席，高度评价近10年中国经济社会发展取得的伟大成就。塔方高度评价中国在社会主义现代化国家建设和中华民族伟大复兴事业中取得的历史成就，坚信在以最高领袖同志为核心的中共中央坚强领导下，中国到2035年基本实现社会主义现代化、到本世纪中叶建成富强民主文明和谐美丽的社会主义现代化强国的目标一定会实现。

　　China spoke highly of Tajikistan’s fruitful achievements in political and socio-economic reform and the implementation of Tajikistan’s national development strategy before 2030 under the leadership of President emomali rakhmon. In order to develop friendly relations with other countries, the Republic of Tajikistan has implemented a peaceful and selfless opening policy based on mutual respect, equality and mutually beneficial cooperation since its independence, and has made great achievements. China firmly supports and respects Tajikistan’s open and pragmatic foreign policy.

　　4. The two sides are willing to expand mutually beneficial cooperation and strengthen friendly partnership under the framework of the Community of Human Destiny initiative and on the basis of mutual respect for sovereignty and territorial integrity, inviolability of borders and non-interference in internal affairs.

　　The two sides will continue to support each other on issues involving core interests such as national sovereignty, security and territorial integrity.

　　Tajikistan firmly abides by the one-China principle, and reiterates that the government of People’s Republic of China (PRC) is the sole legal government representing the whole of China, and Taiwan Province is an inalienable part of China. Tajikistan resolutely opposes any form of "Taiwan independence", reiterates that it will not engage in any form of official exchanges with Taiwan Province, and supports all efforts made by the China government to achieve national reunification.

　　The two sides resolutely oppose politicization, instrumentalization and double standards of human rights issues, and resolutely oppose any country interfering in other countries’ internal affairs under the pretext of human rights.

　　5. Both sides agreed that the head of state diplomacy has played an important strategic leading role in promoting China-Tajikistan comprehensive strategic partnership. The two sides will maintain the good momentum of high-level exchanges and contacts at all levels, exchange views on major issues in China-Tajikistan relations and the international and regional situation in a timely manner, continuously strengthen strategic communication and enhance strategic and political mutual trust.

　　6. Both sides agreed that legislative exchanges are an important part of China-Tajikistan relations, and strengthening bilateral and multilateral cooperation between legislative bodies will inject new impetus into deepening the strategic partnership between the two countries and enhancing mutual understanding and trust. The two sides support strengthening the cooperation between the National People’s Congress of China and the Parliament of Tajikistan, and advocate continuing to promote cooperation between legislative bodies through friendly groups and other channels.

　　7. The two sides are willing to actively promote the joint construction of the "Belt and Road Initiative" and the docking of Tajikistan’s national development strategy before 2030. Tajikistan emphasized that 2023 marks the tenth anniversary of the "One Belt, One Road" initiative proposed by Chairman of the Supreme Leader, and Tajikistan expressed its heartfelt congratulations. The two sides pointed out that Tajikistan was one of the first countries to support this global initiative and an active participant in it. Tajikistan is willing to implement major strategic projects under this initiative.

　　In order to ensure the steady social and economic development of the two countries, the two sides will fully implement the existing bilateral documents and the consensus reached, take measures according to their own laws to ensure the safe and stable operation of cooperation projects, and promote cooperation in the fields of economy, trade, investment, finance, science and technology, tourism, transportation and communication, hydropower, information technology, ecology, humanities, industry, agriculture, food security, digital, cloud technology and artificial intelligence under the framework of the Belt and Road Initiative.

　　8. The two sides will take measures to further expand the scale of bilateral trade, enrich the types of trade, tap the trade potential, deepen cooperation under the framework of "Silk Road E-commerce" and explore new opportunities for expanding trade and innovation cooperation between the two countries. The two sides will promote the trade of high value-added and high-tech commodities and promote the balanced development of trade between the two countries. Tajikistan is willing to expand its exports of textiles, chemicals, agriculture, non-ferrous metals and other products to China. The two sides agreed to speed up the quarantine access of Tajikistan’s high-quality agricultural products to China.

　　The two sides are willing to study and implement cooperative projects in machinery manufacturing, road construction technology, telecommunications, pharmaceuticals, oil and gas, light industry, coal, chemical and food industries, building materials production, electricity, mineral resources, transportation infrastructure, irrigation and soil improvement, agricultural infrastructure and other social fields.

　　China is willing to support Tajikistan in holding international activities in the fields of economy, trade, industrial energy, transportation, logistics and humanities.

　　The two sides emphasized the importance of effectively implementing the Outline of China-Tajikistan Cooperation Plan signed in 2017.

　　Tajikistan is willing to participate in international trade and investment activities such as the International Import Expo, the Import and Export Commodities Fair and the China-Asia-Europe Expo to be held in China in 2023.

　　The two sides spoke highly of the overall coordination role played by the China-Tajikistan Intergovernmental Economic and Trade Cooperation Committee and its sub-committee on economic and trade cooperation in Xinjiang-Tajikistan neighboring areas in deepening pragmatic cooperation between the two countries, and are willing to further play the role of the Committee.

　　9. The two sides stressed the importance of further deepening industrial cooperation and are willing to hold a meeting of the working group on investment cooperation in due course.

　　China is willing to study providing preferential loans to Tajikistan for the implementation of social and infrastructure projects.

　　China is willing to organize cooperation in processing local mineral resources and producing high value-added products in Tazi Free Economic Industrial Zone.

　　X. The two sides will deepen cooperation, promote agricultural modernization in Tajikistan, promote research and processing of crops planted throughout the year, and jointly ensure food security. The two sides pointed out that it is necessary to strengthen the work of the China-Tajikistan Agricultural Cooperation Committee, and believed that the Action Plan for Cooperation in the Agricultural Field for 2023-2025 would become a road map for the development of agricultural cooperation between the two countries.

　　The two sides emphasized that China has rich experience in poverty eradication, and agreed to take joint measures step by step to introduce China’s advanced experience in poverty alleviation to Tajikistan, so as to contribute to the sustainable development of Tajikistan.

　　11. The two sides stressed that it is of great significance to strengthen the interconnection of regional transportation infrastructure. The two sides will continue to make efforts to promote the construction of railway and highway traffic corridors. China has taken note of Tajikistan’s proposal to promote the modernization of China-Tajikistan-Uzbekistan highway and give full play to the potential of the logistics center in curia to develop the "China-Tajikistan-Ukraine-Turkmenistan-Iran-Turkey" multimodal transport corridor. The two sides pointed out that the construction of China-Tajikistan-northern Afghanistan economic and traffic corridor is of great significance. The two sides stressed that it is very important to keep the Calassou-Kuolemai port open and uninterrupted throughout the year. The two sides are willing to study the highway construction project from Varshez to Calassou-Kulemai Port in Gorno-Badakhshan Autonomous Prefecture and the modernization of the port under the framework of the Belt and Road Initiative.

　　The two sides are willing to strengthen cooperation in the aviation field and study the opening of direct flights between the two capitals and more cities.

　　The two sides agreed to continue to improve the "green channel" for agricultural products clearance, improve the efficiency of goods clearance between the two countries, and strengthen mutual inspection and quarantine cooperation for high-quality agricultural products and food.

　　The two sides will take necessary measures to optimize transit inspection, transit procedures for drivers and flight attendants.

　　Both sides are willing to create favorable conditions for international roads and multimodal transport.

　　12. The Tajik side spoke highly of China’s optimization and adjustment of epidemic prevention and control policies according to the situation, believing that this has created better conditions for safe, healthy and orderly exchanges between Chinese and foreign personnel and brought more benefits to global economic development. The two sides resolutely oppose politicizing the issue of epidemic situation and virus traceability.

　　The two sides have accumulated rich experience in effective cooperation in response to the COVID-19 epidemic and are willing to continue to strengthen coordination on the fight against infectious diseases.

　　13. China welcomes the series of initiatives of President emomali rakhmon of the Republic of Tajikistan on global water issues, and notes the success of the second high-level conference on "Water for Sustainable Development" for the Decade of 2018-2028. China spoke highly of the successful hosting of the United Nations Water Conference by the Republic of Tajikistan and the Kingdom of the Netherlands in new york from March 22 to 24, 2023, and noted the successful adoption of the special resolution proposed by the Republic of Tajikistan to the United Nations General Assembly on designating 2025 as the International Year of Glacier Protection.

　　Tajikistan spoke highly of the global development initiative put forward by the supreme leader of president, China, and believed that the initiative has made positive contributions to the realization of the United Nations sustainable development goals in 2030. Both sides are willing to actively implement this initiative.

　　Tajikistan supports China’s global civilization initiative and is willing to work with China to promote global civilization exchanges and mutual learning.

　　China has taken note of the initiative of President emomali rakhmon of the Republic of Tajikistan to formulate and adopt the Economic Development Strategy of the Shanghai Cooperation Organization to 2030, which aims to create conditions for promoting strategic progress in SCO economic cooperation and improve people’s living standards.

　　14. The two sides stressed that it is of great significance to further deepen their cooperation in combating the "three forces", illegal drug trafficking, transnational organized crime, smuggling of weapons, ammunition and explosives, and cybercrime. The two sides will continue to strengthen bilateral cooperation in safeguarding international information security, consolidating border security and cracking down on economic crimes.

　　China has taken note of the high-level international conference "Dushanbe Process" held by the Republic of Tajikistan and the high-level conference "International and regional security and border control cooperation to combat terrorism and prevent terrorists from escaping" jointly held with the United Nations in Dushanbe on October 18 and 19, 2022, making efforts to promote multilateral cooperation in combating terrorism and terrorist financing in Central Asia.

　　China supports the establishment of the Shanghai Cooperation Organization’s anti-drug cooperation coordination body in Dushanbe.

　　In order to effectively cope with modern threats and challenges, the law enforcement and security departments of the two countries will continue to conduct joint anti-terrorism exercises, improve their joint operational capabilities and jointly safeguard regional stability. The two sides positively evaluated the level of military and military-technical cooperation between the two countries, and will continue to strengthen exchanges at all levels and support close military and military-technical cooperation.

　　The two sides are willing to strengthen exchanges and cooperation in emergency management and carry out pragmatic cooperation in the fields of natural disaster prevention, production safety and emergency rescue.

　　The two sides will deepen cooperation in the judicial field and promote mutual visits of representatives of procuratorial organs and cooperation in personnel training.

　　15. The two sides will continue to expand cooperation in the humanities fields such as education, science, sports, tourism, archaeology, health and pharmacy, and strengthen exchanges between the media, scientific institutions and friendship associations. The two sides are willing to hold cultural days in the capitals of the two countries and other cities, and are willing to study the establishment of cultural centers on the basis of reciprocity.

　　16. The two sides pointed out that scientific and technological cooperation is of great significance to the implementation of joint basic and applied research projects with priority directions. The two sides are willing to carry out high-tech and innovative cooperation.

　　The two sides affirmed the necessity of strengthening cooperation in establishing a mechanism for building the "Digital Silk Road", and are willing to jointly promote digital economic cooperation and encourage enterprises and parks of the two countries to strengthen cooperation in the fields of digital trade, artificial intelligence, big data, e-government and blockchain. Tajikistan is willing to continue to cooperate with large enterprises in China, introduce modern technology and solutions, and develop high-speed Internet and mobile communication.

　　China is willing to carry out tourism cooperation with Tajikistan, resume tourism exchanges according to the epidemic situation, and create conditions for the development of tourism. China supports Tajikistan to carry out tourism promotion activities in China. Tajikistan actively supports the development of joint tourist routes and the construction of hotels and restaurants, and is willing to strengthen cooperation in personnel training in this field.

　　The two sides will expand and deepen cooperation in the field of health and strengthen the exchange mechanism of scientific and practical experience between medical institutions, including telemedicine and traditional medicine.

　　The two sides believe that it is of great significance to carry out research and cooperation on environmental protection issues such as reducing the negative impact of climate change and maintaining biodiversity, as well as the application of green and efficient energy technologies.

　　The two sides stressed the importance of promoting exchanges and cooperation between local and sister cities of the two countries, and will promote more places to establish friendly relations between provinces, prefectures and cities.

　　The two sides spoke highly of the important role played by the Confucius Institute at Tajikistan University for Nationalities and the Confucius Institute at Tajikistan Institute of Metallurgy in learning the language and culture of China. China has taken note of Tajikistan’s proposal to establish a Confucius Institute in Khatlon. Both sides expressed satisfaction with working in the Taruban workshop.

　　The two sides are willing to strengthen cooperation in sports.

　　17. The two sides pointed out that strengthening international cooperation is an important manifestation of the high-level strategic partnership and mutual trust between the two countries. Tajikistan supports China’s global security initiative and is willing to carry out exchanges and cooperation with China to jointly safeguard world and regional peace and security.

　　China has taken note of the initiative of the President of Tajikistan to establish a "security belt around Afghanistan".

　　The two sides will firmly uphold the international system with the United Nations at the core, the international order based on international law, and the basic norms of international relations based on the purposes and principles of the UN Charter.

　　The two sides will continue to strengthen cooperation under international and regional mechanisms and forums such as the United Nations and its agencies, the World Trade Organization, the Shanghai Cooperation Organization, AsiaInfo and China-Central Asia.

　　The two sides will work together to consolidate the status of the Shanghai Cooperation Organization as a prestigious and influential multilateral organization, safeguard peace, security and stability in Europe and Asia, jointly respond to new threats and challenges, and strengthen interconnection, economic, trade and cultural cooperation among member States.

　　Both sides agreed that maintaining peace, stability and development in Central Asia, and protecting and promoting the historical and cultural heritage of China and Central Asia are of great significance to countries in the region and even the whole world. The international community should fully respect the historical and cultural traditions and regional uniqueness of Central Asia and make joint contributions to promoting regional development and prosperity.

　　China highly values the efforts made by Central Asian countries to achieve regional peace, prosperity and stability. On September 14th and 15th, 2023, Tajik President rakhmon will host the Fifth Consultation Meeting of Central Asian Heads of State in Dushanbe. China welcomes this.

　　The two sides support the establishment of the China-Central Asia summit meeting mechanism, and believe that this new form of multilateral cooperation will help China deepen cooperation with Central Asian countries on the basis of the principles of mutual respect, good neighborliness, mutual help and mutual benefit, and jointly safeguard regional peace, security and sustainable development.

　　Tajikistan spoke highly of the first China-Central Asia Summit held in Xi ‘an, China, and China’s efforts to prepare for the summit, stressing the importance of the consensus reached at this summit.

　　18. President rakhmon expressed heartfelt thanks to the Chairman of the Supreme Leader and the people of China for their warm and friendly reception, and invited the Chairman of the Supreme Leader to pay another state visit to Tajikistan at a convenient time for both sides.

　　President People’s Republic of China (PRC) President of the Republic of Tajikistan

　　Supreme Leader emomali rakhmon

　　Xi ‘an, May 18th, 2023

New Oriental Online (01797.HK), an online education service provider, successfully landed on the Hong Kong Stock Exchange today. The offering price per share was set at HK$ 10.2, and the estimated net financing in Hong Kong was about HK$ 1.567 billion, officially becoming the first online education share of Hong Kong stocks.

According to public information, the online public offering of New Oriental was about 8.18 times oversubscribed, and the international offering shares initially submitted for sale in the international offering were greatly oversubscribed.　

At 9: 00 am, Yu Minhong, Chairman of New Oriental Education Technology Group, Sun Chang and Sun Dongxu, co-CEOs of New Oriental Online, boarded the main platform of the HKEx and officially launched the listing ceremony in Hong Kong. Li Xiaojia, Chief Executive Officer of HKEx, attended the ceremony. Wang Jiangtao, represented by the famous teacher of New Oriental Online, and Sun Lunbo, represented by the students, rang the gong.　

After listing, New Oriental Online rose 0.2% to HK$ 10.24, and the IPO price was HK$ 10.2. As of 9: 31: 53 Beijing time, New Oriental Online reported HK$ 10.32, an increase of 1.18%.

Sun Chang, co-CEO of New Oriental Online, said in an interview with the live media that the listing of New Oriental Online on the main board of the Hong Kong Stock Exchange is an important milestone in the company’s development. Listing in Hong Kong not only enables the company to enter the international capital market, but also provides sufficient funds for the company’s long-term development, enabling it to grasp and seize the opportunities of industry development.

At the same time, she also said that in the future, she will continue to work hard in three business directions: providing quality courses, actively expanding content supply and consolidating her own platform, and become a "lifelong learning partner" for the students.

The business of New Oriental Online was established by New Oriental in 2005. Relying on the New Oriental Group, New Oriental Online provides courses in three core branches, namely, university education, K-12 education, and online education for preschool education.　

New Oriental Group is still the largest shareholder of New Oriental Online, accounting for 66.72%; The second largest shareholder is Image Frame, a subsidiary of Tencent, accounting for 12.06% of the shares. Tigerstep, an investment holding company wholly owned by Yu Minhong, holds 1.85% of the shares.　

According to the prospectus, at present, the company’s product matrix mainly includes five business brands, namely, New Oriental Online (flagship brand), Oriental Youbo, Cool Learning Dona, Cool Learning English and New Oriental Education Cloud, including live+recording courses of different class sizes, mainly covering most of the contents that students will study from preschool education to university and post-education.

Judging from the flow of students’ registration in various courses, university education (college exam preparation, overseas preparation, English learning and others) still dominates.

In addition to the direct student flow in the C-end user group, New Oriental Online also has a layout in the B-end. This part is mainly to explore institutional customers and provide educational content and service packages for universities, public libraries, telecom operators and online video streaming service providers.

According to the prospectus, the total revenue of New Oriental Online Group in fiscal year 2016, fiscal year 2017, fiscal year 2018 and the six months ended November 30, 2018 were 334 million yuan, 446 million yuan, 650 million yuan and 478 million yuan respectively; The net profit was 59.6 million yuan, 92.2 million yuan, 82 million yuan and 36.2 million yuan respectively.

According to Jost Sullivan’s report, in terms of total revenue, New Oriental Online was the largest comprehensive online tutoring and preparation service provider in China in 2017, accounting for 0.63% of the total market revenue. At the same time, the company’s flagship brand, New Oriental Online Platform, was also the largest online education brand in the exam preparation market of China University, with a market share of 8.2%.

Sun Dongxu, co-CEO of New Oriental Online, said that listing means a new starting point for New Oriental Online. As the controlling shareholder of New Oriental Online, New Oriental’s parent company and subsidiaries continue to maintain close cooperation after listing, and at the same time, it also requires subsidiaries to accept more open challenges and tests.

It is worth noting that as the first online education company that successfully landed on the Hong Kong Stock Exchange, New Oriental Online listed the New Third Board as "New Oriental Network" in March 2017. However, the New Third Board has low transaction volume, poor liquidity and difficult financing. On January 10, 2018, the operating entity of New Oriental Online — — The shareholders’ meeting of Beijing Xuncheng decided to voluntarily delist the shares, which was approved by shareholders with a total number of shares of about 98.25%. On January 18th, the listing was terminated and the regulatory approval was obtained, and the delist was completed on February 14th. The official listing time is less than one year.　

New Oriental Online is the only profitable online education company in the capital market at present, which is the biggest advantage of New Oriental Online in the capital market. Of course, this is related to its strong resources and brand export advantages backed by its parent company, New Oriental Group.

However, even relying on the resource advantages of New Oriental Group, New Oriental Online can’t get rid of the growing competition for online education. According to the latest prospectus, the profit of New Oriental Online has fallen sharply, and there is a suspicion of "performance changing face". Reflected in the first day of listing, after a small increase, the share price of New Oriental Online also began to fall. Less than an hour after the opening, the share price fell below the issue price.

On February 1, 2019, New Oriental Online updated the hearing materials. However, the updated prospectus shows that the performance of New Oriental Online has undergone a sharp reversal. According to the prospectus, as of November 30, 2018, the total revenue of New Oriental Online was 477 million yuan and the gross profit was 281 million yuan, compared with 328 million yuan and 223 million yuan in the same period last year.　

However, it is worth noting that the net profit from June to November 2018 was 36.2 million yuan, a decrease of 59.87% compared with 90.2 million yuan in the same period of 2017.　

In view of the serious shrinkage of profits, New Oriental Online also gave an explanation in the new prospectus. According to the prospectus, the reason is that the company’s marketing expenditure increased significantly from June to November in 2018, and the reason for the increase in marketing expenditure was the increase in customer acquisition cost. According to the data, the average customer acquisition cost of New Oriental Online increased from 55 yuan in fiscal year 2018 to 138 yuan.

At the same time, the increase in promotion activities in media online and the increase in advertising fees are the main reasons for the sharp increase in media online’s promotion expenditure, which increased from 29.7 million yuan in June-November 2017 to 109 million yuan in the same period in 2018, with the focus on universities and K12 education. Affected by this, New Oriental Online’s sales and marketing expenses rose to 233 million yuan from June to November 2018.　

In fact, in recent years, with the help of capital and high traffic cost, the profitability of online education companies has become a common problem in the industry. Among them, marketing has a great relationship with the rising cost of obtaining customers. 51Talk and fluent English, which have successfully landed in the US stock market, all face similar dilemmas in their financial reports, which are caused by rising marketing costs.

Some insiders said that if online education companies want to get a formal paid student, they need to go through many channels: first, reach users by online advertising or offline push, then screen users by telemarketing, and finally let customers place orders through audition. This is a set of standardized sales processes that have been formed in the education industry at present.　

Thanks to the resource advantages of New Oriental Group, compared with other online education companies, New Oriental Online will naturally be easier to get customers. However, as an important participant in the online education industry, New Oriental Online can hardly escape this trend.　

According to the prospectus, from June to November, 2018, in addition to the outstanding performance of the university education sector with traditional advantages, New Oriental Online maintained a high gross profit margin, K12 education and preschool education continued to decline.　

From June to November 2017, the online pre-school business line of New Oriental still had a net profit of 14.2 million yuan, while in the same period of 2018, it lost 2.7 million yuan, and the gross profit margin also dropped from 3.0% to -21.6%. Among them, there is continuous investment in its pre-school education sub-brand "Cool Learning Dona".　

Just like the famous teacher strategy of New Oriental Group, New Oriental Online initially attracted the majority of students because of the online "famous teacher" course. However, as more and more "famous teachers" of the group leave home to start their own businesses, the continuous loss of talents leads them to realize the problems and make adjustments in the direction of shaping "famous teachers".　

For the online education business, Yu Minhong appeared and expressed his views in the Hong Kong roadshow before the listing of New Oriental Online on March 15th. He said that the sign of online education maturity includes several points:　

First, the biggest element of education is interaction. The original online education can not be realized, but now it can be realized;

Second, the development of 5G network will promote the maturity of online education;

Third, China has a vast territory, and smart phones accelerate the group cognition in remote areas. There are different classes in New Oriental, and the crowd distinction is also clear.

Fourth, 1 to 1 is not the main mode of education. Internet+education should provide educational services to a wide range of people at low cost and high quality.　

Yu Minhong believes that educational products must have three sections: 1. Content+teaching system; 2. Application of science and technology; 3, teaching, that is, teachers. Because education is not only content transmission, but also solving emotional demands.

On the other hand, New Oriental Online believes that the key advantage barrier that distinguishes it from other late competitors is that it is one of the earliest online education enterprises in China, so it has accumulated a lot of learning behavior and result data from students, which can be used to analyze and guide the output performance of teachers and content teams.

As of November 30, 2018, the company disclosed that it has more than one million test questions and a large number of teaching resources in the knowledge base to support the subsequent research and development capabilities.

According to the prospectus, through its own product matrix, technology research and development, and the synergy with parent brand, the number of paying students of New Oriental Online is constantly pushing up.

In FY 2016, FY 2017 and FY 2018 (the company’s fiscal year ends on May 31st each year), the number of students enrolled in online courses of New Oriental was about 360,000, 639,000 and 1.1 million respectively, with a compound annual growth rate of 74.8%. In the first half of 2019, the number of paying students of New Oriental Online was 1.1 million, which reached the full-year level of the previous fiscal year in half a year.

In addition to ensuring the existing famous teacher resources and teaching system, according to Yin Qiang, CFO of New Oriental Online, in terms of science and technology, New Oriental Online will maintain a very favorable investment every year.

For example, the adaptive learning system introduced as early as four or five years ago will make the next learning plan according to the different effects of each student’s learning, including what to learn and what exercises to do, which will improve students’ learning ability and academic performance more effectively than offline unified learning.　

New Oriental Online also plans to continue to increase R&D investment and enhance its technical capabilities in the future. Yesterday, in an internal letter jointly issued by Sun Chang and Sun Dongxu, co-CEOs of New Oriental Online, they said:

"New Oriental Online must increase its investment in technology, including artificial intelligence, so that technology can become the engine of the company’s development. Let technology fully empower education, improve teaching efficiency, optimize learning experience, and truly lead the development of online education industry. "

Yin Qiang said that on the one hand, continue to develop technical capabilities that are crucial to the user experience, such as network infrastructure, mobile applications, artificial intelligence and big data analysis capabilities; On the other hand, establishing a strategic partnership with technology enterprises and educational content providers and investing in it, with a view to creating technical opportunities with synergy with existing platforms, will help upgrade the existing information technology infrastructure of New Oriental Online and upgrade the cloud-based learning platform.(This article is the first titanium media, author/Li Chengcheng, editor/Zhao Yuhang)