The days of being enemies with Leslie Cheung.

Original fork less past barbecued pork included in the topic # Character Story 25# Past skewer 17
In 1985, in the second season of TVB’s "Top Ten jade solid gold", Leslie Cheung won three consecutive songs.

After Leslie Cheung finished singing the winning song, the host Cai Fenghua said: "I sincerely congratulate Leslie Cheung, but a moment’s glory may not be eternal."

This sentence is regarded as derogatory to Leslie Cheung. After that, Cai Fenghua, as the top figure in the entertainment circle, was abandoned by the audience. The wireless TV station no longer reused him, and his reputation plummeted. In middle age, Cai Fenghua was even listed as the "Four Epilepsy Kings of Hong Kong" by Hong Kong media.

He explained in the interview that he said that sentence for Danny Chan.

Friendship years

The story of Leslie Cheung, Danny Chan and Cai Fenghua began in 1977.

That year, 19-year-old Danny Chan found himself unable to adapt to life abroad and returned to Hong Kong from San Francisco. After returning home, in order to get his father to support him in learning music, Danny Chan went to learn Cantonese opera and won the first prize in the Hong Kong Shanye Electronic Organ Competition.

In the same year, Danny Chan participated in the "Invitational Competition for Pop Song Creation" and was signed as an official singer by the wireless TV station.

< Danny Chan >

In May, 1977, Leslie Cheung participated in the Asian Amateur Singing Competition of Lili TV Station and won the second place.

One day, Leslie Cheung and his friends were chatting happily in a restaurant called "BAND BAND", and Danny Chan walked by. He said to Leslie Cheung, "Some people say that I look like you!"

Seeing this tasteful boy in front of him, Leslie Cheung replied in amazement: "Who are you?"

He said, "My name is Danny." Danny is the English name of Danny Chan.

At that time, both TV stations of Wireless and Lili were on the broadcast channel, and Danny Chan sometimes went to Lili’s TV station to find Leslie Cheung to get off work together. Two big boys go shopping, bar and Disco together. Before long, two people signed the same manager.

< Danny Chan and Leslie Cheung >

Once, Leslie Cheung and Danny Chan were invited to attend a concert in Macau at the same time. On the voyage, they sat together.

Danny Chan took out the recording he brought on board and brought it to Leslie Cheung. After listening to all the songs on the tape, Leslie Cheung asked Danny Chan, "Are these your new songs?" Danny Chan nodded: "Yes."

"I like the song" Tears for You "with the sound of the phone best." Leslie Cheung said.

In the afternoon, Leslie Cheung accepted a radio interview with two singers, Ye Liyi and Ye Zhentang, and Danny Chan was left aside.

Leslie Cheung noticed that reporters turned a blind eye to Danny Chan, so he said, "This is Danny Chan. You can see him sometimes when you watch Happy Tonight. Why don’t you visit him?" After listening to Leslie Cheung’s words, the reporters gave an interview to the singer who has not yet become popular.

At that time, Leslie Cheung felt that he was an elder brother, so he should take care of Danny Chan more.

In 1979, Cai Fenghua also entered the industry through the draft and became a colleague of the same TV station with Leslie Cheung.

Cai Fenghua is four years younger than Leslie Cheung. She has just entered the entertainment circle, and she doesn’t understand many things. When he was filming, Leslie Cheung taught him what "over the shoulder" and "over the mirror" were.

After work, Danny Chan and Leslie Cheung played with the younger brother, and Cai Fenghua learned English table tennis from them.

< Old photos of Cai Fenghua >

Cai Fenghua recalled in the interview: "Leslie Cheung, Danny Chan, Anita Mui and I are good friends. As soon as we meet each other, we will go to Lan Kwai Fong to play, and there is no need to make an appointment. At that time, we were not very popular and didn’t earn much, but every time we paid the bill, we didn’t give each other, vying for money. "

Debate between Chen and Zhang

It didn’t take long for this group of good friends to play together, and Danny Chan quickly became popular.

In 1979, in Danny Chan’s first solo album, Leslie Cheung’s favorite song "Tears for You" became an instant hit and won the Hong Kong Top Ten Chinese Golden Melody Award.

Cai Fenghua was the second to capture the "Top Ten Golden Songs". In the TV series "Youth Trio", his interlude "Beautiful Shadow" won five awards.

Once Yinghua Girls’ Middle School invited Cai Fenghua to sing. He was late for a long time, but the girls didn’t mind. When they saw him, they cheered: "Fenghua Fenghua, peerless elegance".

< Publicity photo of "Youth Trio" Left: Cai Fenghua Right: Zhong Baoluo >

Compared with Danny Chan and Cai Fenghua, the development of Leslie Cheung in those years was full of twists and turns.

His records sold badly, and they were sold for one yuan by the store. Very not easy to wait for a chance to first hero, the result to the crew, Leslie Cheung found that this is a third-class film.

In 1980, the youth film "Cheers" cast Leslie Cheung and Danny Chan at the same time. There are only thirteen shots of the villain in Leslie Cheung’s film. Danny Chan has never made a film and has no acting experience, but he has become the leading actor.

In later memories, the heroine of Cheers said: "Most new artists avoid villains, and such roles are easy to be stereotyped. Once they are deeply branded in the audience’s mind, it will be difficult to resonate if they want to play Zhongliang again in the future."

Young Leslie Cheung doesn’t want to play the villain role, but manager Tan Guoji wants to focus on winning Danny Chan. As an artist in the same company, Leslie Cheung only has to obey orders and cooperate.

< "cheers" poster >

However, the performance of Danny Chan, the protagonist, made the director dissatisfied. His child got angry and said, "It’s obviously a good shot, why do you remake it again?" Waste youth! "

When dubbing later, Danny Chan left after half an hour of frustration, and the film had to find someone else to dub him; Leslie Cheung, on the other hand, "is most willing to learn dubbing skills, and he can finish the task quickly".

Director Clifford Choi praised Leslie Cheung, and recommended Leslie Cheung to other crews, saying that he "overshadowed the leading role".

Danny Chan is aware of his shortcomings, and sometimes he stays alone in the corner, lost in thought. Others judged that he was in a bad mood and left him alone. But Leslie Cheung, who is cheerful, loves to tease him at this time. Danny Chan sometimes responded with jokes, and sometimes walked away silently.

In August 1981, Zhong Baoluo, a mutual friend of Chen, Zhang and Cai, was injured by a truck in North Point. Manager Tan Guoji held a concert for Zhong Baoluo to raise money for medical expenses, and all three of them volunteered to participate in the performance.

< After the concert, Zhong Baoluo, Leslie Cheung, Danny Chan, Cai Fenghua and others took a group photo >

On the surface, the protagonist of the concert is Zhong Baoluo, but the spotlight is on Danny Chan and Leslie Cheung.

The order of their performances is "Leslie Cheung takes the lead, Danny Chan is the finale". Organizers believe that more audiences are coming for Danny Chan, so it is better to keep people by letting him be the finale.

In the face of continuous comparison, the friendship between the two men has cracked. Later, Leslie Cheung recalled: "In terms of movies, many people thought highly of me, but in terms of singing, he was above me. This stage lasted for a long time. Under such circumstances, we feel a little out of step. “

Danny Chan was always unhappy when they filmed The Unemployed. Leslie Cheung said, "It seems difficult to be with my partner for him." At the press conference, Leslie Cheung unilaterally announced that it would no longer cooperate with Danny Chan.

In the film Merry Christmas, even if two people appeared in the cast at the same time, there was not a scene in which two people appeared at the same time. Director Gao Zhisen said: "In order not to bump into each other on the set, body double was used in the same scene."

Misunderstanding and misleading

On January 16th, 1983, TVB’s jade solid gold broadcasted Leslie Cheung’s first MV "Let Me Fly", and the host of the program was Cai Fenghua.

Cai Fenghua said, "This song is so popular in the United States that even the chairman of the conference, Hill David, has to buy the copyright of this song to launch it. This is a song that Leslie Cheung won glory for Hong Kong. " After the MV of the song was released, Cai Fenghua and Leslie Cheung hugged each other and talked while walking.

< Leslie Cheung is a guest on the Cai Fenghua program >

Danny Chan and Cai Fenghua have more frequent contacts. When Danny Chan filmed the MV of "Star Picking", Cai Fenghua visited the class. The two always appear together at the "Miss Hong Kong" and "Golden Record" awards ceremony.

When TVB celebrated Taiwan, Danny Chan and Cai Fenghua also put on dragon dancing clothes and danced together.

< Cai Fenghua and Danny Chan dance the dragon head together >

When Danny Chan came to the program hosted by Cai Fenghua as a guest, Cai Fenghua felt that Leslie Cheung was still their good friend, and still talked about him without hesitation.

August 3rd, 1985 was the award ceremony for the second season of TVB’s "Top Ten jade solid gold". Because Leslie Cheung won three songs, TVB arranged to broadcast them to his concert.

Cai Fenghua, the host, announced Leslie Cheung’s winning tracks: Unbridled Heart, I Do, and Girl’s Heart. After years of silence in her singing career, Leslie Cheung was extremely excited to achieve such good results.

After singing his three finalists, Leslie Cheung reviewed the cooperation with Danny Chan in a joking tone:

"I’m here to speak, really my feelings about Danny Chan. I am very dissatisfied with him because all his songs are good to listen to, but he never wrote a song for me. Making movies will always be, he is loyal and I am a traitor. "

Cai Fenghua thought that Leslie Cheung was provoking Danny Chan, so he took the lead: "In fact, it doesn’t matter whether you win the prize or not, but I really want to be a singer, regardless of other people’s songs or your own songs. When I first saw Leslie Cheung’s concert, I also sincerely congratulated him and got three golden songs. But a moment’s glory may not be eternal … "

< Photos of the Second Season of "Top Ten jade solid gold" in 1985 >

At that time, it was a live broadcast. The hostess was afraid that Cai Fenghua would say something wrong and interrupted him at the first time: "I believe that all the audience support A Ken (Cai Fenghua). It is better to direct advanced advertisements." Cai Fenghua, who stood to the side, seemed to have something to say, and finally gave up.

After the seasonal election awards that night, Danny Chan was worried about Cai Fenghua and said to him a little shyly, "TAKE CARE."

Years later, Cai Fenghua explained why he said that: "I just don’t want to see two good friends lose their friendship because of the competition at work. Danny Chan is my friend, so is Leslie Cheung. At that time, I was just trying to persuade them. I couldn’t estimate it and the reaction was so great. "

On the second day after the incident, TVB producer Yang Jianen made a statement: "Cai Fenghua, as a host, shouldn’t talk about personal feelings in the program. I can’t help but do something about Cai Fenghua, so Lu Minyi is tentatively scheduled to take over the presiding work of jade solid gold. "

Cai Fenghua’s status as the host of jade solid gold for five years in a row was forced to end.

In that season’s "Top Ten jade solid gold", Cai Fenghua’s songs were originally shortlisted. At the final award ceremony, his work was defeated.

The media speculated that Cai Fenghua was jealous of Leslie Cheung when he said that "a moment’s brilliance may not last forever". The publication of such reports has greatly damaged Cai Fenghua’s image.

Falling star

In 1986, the International Recording Association and TVB filed a lawsuit over copyright issues, and Cai Fenghua’s album Absolute Emptiness was implicated, which prevented him from appearing on TV.

Jade solid gold lost his job, and the album was "hidden in the snow". Cai Fenghua was depressed for a while and was contaminated with drugs. Reporter Cha Xiaoxin mentioned that when they met, Cai Fenghua’s face was flushed, his eyes were dull, his speech was slurred, and he said that he had "taken 12 sedatives".

In the 1990s, the only job left for Cai Fenghua was a late-night radio program.

One day, he accidentally fell asleep and played his song three times, which aroused the dissatisfaction of the audience. Cai Fenghua even lost his last job. At that time, the most frequent voice was: "If you do more injustice, you will die. This is karma."

< Cai Fenghua hosts the radio program "The Sound of Lost Shadows" >

Without a source of income, the rent for Cai Fenghua’s village house can only be paid by her elderly mother. Mother will bring him food, but he won’t eat it all at once. He only eats one meal every day.

On one occasion, Cai Fenghua went to sing for other singers, wearing sunglasses all the time. He told reporters: "The eyes were injured by the underworld, and the doctor said that he should avoid light and only wear sunglasses to see people." Even so, the entertainment circle still didn’t let him go, and took him as a laughing stock at every opportunity.

In the program "Happy Tonight", the imitator mocked Cai Fenghua’s character of remembering the past and imitated his nagging before singing: "I used to sing this song when Danny, Leslie and Ah Mui were on stage in Malaysia in the 1980s." In the arranged plot, the following audience said impatiently, "Don’t talk about your glorious deeds in those days, can you just sing?" "

The host of "Everyone is so coquettish" talked about Cai Fenghua, saying: "The TV station staff went to his home to interview, and he drove them away with urine." Cai Fenghua complained: "This is naked slander". But the other party didn’t take it to heart, saying that he was too sensitive.

People think that Cai Fenghua is crazy, and he, together with Lan Jieying, Pauline Chan and Hong Chaofeng, is named as "the Four Epilepsy Kings of Hong Kong". In Jing Wong’s King of Thousand Kings 2000, Nick Cheung’s character was tattooed "I love Cai Fenghua" by his cellmate, which was a great shame.

< stills of King of Thousands 2000 >

In the days when the media attacked him the most, Danny Chan couldn’t bear to see him being treated unfairly. He wrote in the magazine: "A moment’s brilliance can last forever. I sincerely hope that my friend Cai Fenghua can continue to work hard for a new day."

Danny Chan, who encouraged Cai Fenghua, failed to resist the offensive of depression. On May 18th, 1992, Danny Chan took a lot of sleeping pills with wine and was sent to Queen Mary Hospital for treatment.

After ten months in a coma, Leslie Cheung came to Danny Chan’s ward. Leslie Cheung whispered "Danny" in his ear, but he still didn’t respond.

After leaving, from the elevator to the lobby, Leslie Cheung didn’t speak, and his two hands kept rubbing nervously. It was not until he got on the bus that Leslie Cheung said faintly, "It’s hard to see him like this. Why should he spoil himself?"? I often advised him, but he wouldn’t listen … "

Seven months later, Danny Chan said goodbye to this world forever. Ten years later, Leslie Cheung jumped off the Mandarin Hotel because of depression, and Queen Mary Hospital became the last stop of his life.

At Leslie Cheung’s funeral, there were countless stars, and most of them were seated. However, one person stood far away among the fans and watched him leave in a low-key way. Someone recognized him: "That’s Cai Fenghua, the four most insane Wang Zhiyi in Hong Kong!"

At this time, Cai Fenghua is middle-aged and fat, wearing sunglasses and standing in the crowd, but everyone disappears.

< Cai Fenghua at Leslie Cheung’s funeral scene >

Cai Fenghua was present at the Stars Concert on the 15th anniversary of Leslie Cheung’s death. Just as the music was about to start, he stopped and said, "Some people say that’ a moment’s brilliance doesn’t mean eternity’ makes me go downhill. Wrong. In fact, there is a heavenly king who has been helping me. That person’s name is Leslie Cheung."

In 1985, Leslie Cheung learned from a friend what Cai Fenghua said at the award ceremony. He was not angry and helped to explain: "Don’t blame him, he didn’t know what he was talking about when he spoke, and he didn’t know the kind of person who hit the board until after he spoke; I used to be like this. He is actually very pure and lovely. "

Back to the day before the "incident", when Leslie Cheung was singing "Love is not a game" in the middle of the concert, he suddenly heard a loud noise from the audience. Leslie Cheung looking back, it turned out to be Cai Fenghua holding a flower, sitting in the audience and looking at him from afar.

He immediately invited Cai Fenghua to take the stage. Cai Fenghua said, "This is the first time I have heard my own song at someone else’s concert. I am so moved. I want to give Leslie Cheung a kiss."

After Leslie Cheung’s death, Cai Fenghua was interviewed by reporters at the seaside. He said, "I really hope that the wireless TV station can sell me a favor and let me talk about Leslie, Danny Chan and Zhong Baoluo on the last TV station. I really want to end everything in the past, then concentrate on developing my career and hold a concert in the Red Pavilion. People say Leslie died, which makes me so happy. Absolutely not! The most painful thing should be me. "

Tragedy

In 2012, several good friends helped Cai Fenghua realize his wish of "giving a solo concert in Hung Hom Gymnasium". The attendance rate of the day was 90%. Cai Fenghua said excitedly: "I have been waiting for this opportunity for 31 years, and finally I have the opportunity to meet you."

In the Red Pavilion, he sang Anita Mui’s Walk Alone, Danny Chan’s Star and Leslie Cheung’s Love of the Year.

This year, Leslie Cheung, Danny Chan and Anita Mui had already passed away, and Zhong Baoluo jumped down from home.

Cai Fenghua recalled the past and said, "The loss of the Hong Kong music scene is due to the daily struggle. Everyone is a singer, and there is really no way for the cause to stage a enter the dragon. "

When a group photo appeared on the screen, Cai Fenghua said with tears: "I have been so lonely in recent years, and now I am the only one standing here."

Some references:

[1], Nian Rong, Han Qiao

[2], "Spend 61 Years with Him", the gray

[3], "The First Time in Leslie Cheung", Ming Pao Weekly.

[4], "Our eternal superstar special: Danny Chan", Ming Pao Weekly.

[5], "Father talks about Danny Chan’s death for 20 years", Information Times.

[6], "Leslie Cheung: How did Danny Chan and I meet?"

[7], "From Cai Fenghua to Cai Crazy China", Cha Xiaoxin

[8], "Twenty years later, I still miss Danny Chan", Cha Xiaoxin

[9], "Archives" No.225, Danny Chan and Leslie Cheung, those years.

Original title: "Days of Enemy with Leslie Cheung"

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How much is the new Porsche Cayenne quoted?

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Heavy! The 180 billion pension sketching A-share map team is professional and experienced.

  A great weapon to stabilize the capital market this week has come! The long-rumored 180 billion pension finally entered the A-share market and began to invest. The investment trajectory of pension in A shares is becoming a topic of great interest to investors.

  A few days ago, the Ministry of Human Resources and Social Security revealed at the relevant press conference that in terms of investment in basic endowment insurance funds, the governments of nine provinces (autonomous regions and municipalities) such as Beijing and Anhui have signed entrusted investment contracts with the Social Security Fund Council, with a total contract value of 430 billion yuan, of which 180 billion yuan has been received and investment has begun.

  Heavy

  180 billion pensions began to invest.

  180 billion yuan has been invested, and at least 250 billion yuan is on the way. The huge volume of pensions has attracted much attention. How big can the basic pension finally enter the market? How much does it flow into the stock market?

  At present, there are two estimates in the industry. Dong Ke, a professor at Renmin University, predicted at the end of last year that the balance of basic pensions in China is about 3.5 trillion yuan, and it is expected to reach 5 trillion yuan in the next five years. The internal forecasts of some insurance institutions show that the balance of the national basic pension is at least 2 trillion yuan. These will not all be put into the stock market. The Ministry of Human Resources and Social Security has made it clear that the total investment in equity products such as stocks will not exceed 30% of the net asset value.

  As for the current size, the market believes that the Social Security Fund Council has been entrusted with a basic pension of 180 billion yuan, and the upper limit of entering the stock market may be 54 billion yuan.

  direction of a current

  16 pension portfolios are new.

  What investments did the 180 billion yuan make? How are these funds allocated? The third quarterly report of listed companies unveiled the investment trajectory of pension portfolio in the A-share market in response to the pension market’s concern.

  Wind data shows that as of October 31, the basic endowment insurance fund portfolio bought six stocks in the third quarter, and all of them were new in the third quarter. These six stocks are Dahao Technology, Shangfeng Cement, Hudian, Tiandi Technology, Guangzhou Restaurant and Rongan Real Estate. The market found that the accumulated market value of the pension portfolio for these six stocks was only 197.3888 million yuan, which was only a small test stage compared with the large army of 180 billion yuan. In the second quarter of this year, the pension portfolio bought a small amount of three stocks, namely Zhenghai Magnetic Materials, Jiuyang Shares and Shoushang Shares. However, as of the end of the third quarter of this year, the pension portfolio reduced all three stocks.

  The pension portfolio is very active in playing new shares offline. As of October 31, 16 pension portfolios have spent more than 86.9 billion yuan to "innovate" offline. Analysts said that for pensions, investment pays more attention to safety and decentralization. Pensions may be biased towards absolute returns, and there can be no sustained long-term losses, which is also confirmed by participating in the subscription of new and convertible bonds. Pensions have also participated in Palm Shares, Luoyang Molybdenum Industry and Tapai Group through fixed increase, and have already made great floating profits.

  The market believes that the long-term style of each basic pension insurance portfolio remains to be seen, but individual style differences have been revealed. For example, the 801 portfolio continues the style of Guangdong-style funds and is good at tapping investment opportunities from sub-new companies. The 802 portfolio embodies the characteristics that veteran investment managers are good at portfolio allocation. The 903 combination has a unique sense of smell for policy-sensitive periodic varieties.

  According to the latest third quarterly report, the basic endowment insurance fund 801 has increased its holdings of Guangzhou Restaurant, a new share, and has become the largest tradable shareholder of the stock. At the same time, the portfolio significantly reduced its shareholding in Shoushang, which is a commercial stock held by a fund and Niusan. The 802 combination of basic old-age insurance significantly reduced its holdings of Jiuyang shares and Zhenghai magnetic materials, and increased its holdings of Hudian shares. The stocks that have been reduced are well-known home appliance stocks and new energy vehicle concept stocks, while the holdings are component companies held by many institutions. The 903 portfolio of basic endowment insurance increased its holdings of Shangfeng Cement and Rongan Real Estate in this quarter, both of which are related to the industrial chain of infrastructure real estate. And the basic pension portfolio is the only fund management institution among the top ten tradable shareholders of these two companies. In addition, the basic old-age insurance 804 portfolio increased its holdings of Tiandi Technology, and the 904 portfolio increased its holdings of Dahao Technology.

  safe

  All localities only use surplus funds for investment and operation.

  The person in charge of the relevant department of the Ministry of Human Resources and Social Security said that after the investment and operation of the pension insurance fund, all localities set aside pensions to ensure the current payment, but only used the surplus funds for investment and operation. Insured people do not have to worry that the timely and full payment of their pensions will be affected, and the investment and operation of the fund is conducive to ensuring the future pension payment.

  At the same time, the Ministry of Human Resources and Social Security said that the Ministry of Human Resources and Social Security and the Ministry of Finance have improved the supervision system and mechanism to ensure its safety in many ways. The Ministry of Human Resources and Social Security said that the endowment insurance fund will be collected by the provincial government and entrusted to operate centrally.

  The endowment insurance fund will invest in a diversified way, not putting eggs in one basket, and will choose more mature investment varieties for investment. The state will give special policy support, and ensure long-term stable income by participating in major national projects and major projects, and participating in the restructuring and listing of key state-owned enterprises.

  The market also noticed the firewall system of pension investment. According to the Ministry of Human Resources and Social Security, according to regulations, investment institutions and trustee institutions respectively set up risk reserves at 20% of management fees and 1% of annual investment income, which are specially used to make up for possible losses in pension fund investment.

  organization

  The investment team is professional and experienced.

  Because the pension pursues long-term and stable income, the team qualified for pension investment should also be tested by the market.

  The market has noticed that the investment performance of pensions is actually contributed by teams at two levels. On the one hand, the management team of the National Social Security Fund Council is responsible for the allocation of funds and assessment. On the other hand, the team of investment institutions responsible for investment in one or several professional directions.

  It is understood that the "XXX Portfolio of Basic Endowment Insurance Fund", which has attracted much attention from the market, is actually a portfolio managed by an investment management institution in a certain direction. The assets of this portfolio usually focus only on a certain field of investment and do not make too many position adjustments, and its scale is dynamically adjusted by the social security fund according to the situation. For example, the pension portfolio starting with three characters is basically a fixed-income portfolio (including institutions such as Nanfang, Penghua, Dacheng, Yin Hua, ICBC Credit Suisse, Huatai Asset Management, Taikang Asset Management and CITIC Securities), while those starting with eight characters and nine characters are actively managed equity portfolios (including institutions such as E Fund, Bosera, Huaxia, Jiashi, Fuguo and Dacheng).

  Usually, investment institutions that undertake pension management portfolio will set up special teams to screen the best fund managers in a certain field to participate in pension management. This is the same as managing the social security fund portfolio at the beginning. Huaxia Fund launched Wang Yawei and Bosera Fund arranged Guijiang and Deng Xiaofeng. Historically, during the fluctuation period of the A-share market, the combination of national social security fund management had a very classic operation.

  Text/reporter Liu Shenliang

  related news

  Public Offering of Fund, the goal of providing for the aged, is coming.

  (Reporter Zhu Kaiyun) The China Securities Regulatory Commission recently issued the "Guidelines for Pension Target Securities Investment Funds (Trial)" (hereinafter referred to as the "Guidelines") for public comments.

  What is the pension target securities investment fund? According to the exposure draft, the pension target fund refers to a publicly raised securities investment fund that aims at pursuing the long-term steady appreciation of pension assets, encourages investors to hold them for a long time, adopts mature asset allocation strategies, and reasonably controls the risk of portfolio fluctuation.

  At present, it is of great significance and necessity to formulate "Guidelines" and launch "Pension Target Fund": First, it is conducive to giving full play to the role of professional financial management in Public Offering of Fund’s pension investment. Second, it is conducive to the formation of special pension investment fund product categories, which is convenient for investors to identify and choose investments. At present, there are a large number of Public Offering of Fund, which has exceeded 4,000, with different styles. Formulating the Guidelines and clarifying the relevant arrangements of pension funds in terms of investment strategy and investment ratio will help to form special pension fund product categories and facilitate investors to identify and choose. Third, it is conducive to the long-term sustainable and healthy development of pension funds. In recent years, the industry has introduced some pension funds one after another, and most of them have achieved good returns by adopting a prudent investment strategy and controlling their positions. Summarizing the operation experience of pension funds in the early stage to form industry standards is conducive to the long-term sustainable and healthy development of pension funds.

  According to the "Guidelines", pension target funds should adopt a regular and open operation mode or set a minimum holding period for investors to match the investment strategy of the fund. The closed operation period or the minimum holding period of the pension target fund should be no less than one year. If the closed operation period or the minimum holding period of the pension fund is not less than one year, three years or five years, the proportion of the fund invested in stocks, equity funds and hybrid funds shall not exceed 30%, 60% and 80% in principle.

  The Guidelines require that the pension target fund should include the word "pension target" in the fund name and reflect the investment strategy. The pension target fund adopting the target risk strategy also needs to specify the product risk level in the fund name. Other Public Offering of Fund, shall not use the word "pension". In the publicity and promotion materials of the pension target fund, it should be clear that the name of "pension" does not represent income guarantee or any other form of income commitment, and it should be marked in a prominent position that the product does not break the capital and may suffer losses.

Dodge Tyrannosaurus Rex Mammoth 6.2T Port Price 1.88 million.

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  For more model details, please call: 18920481155 Manager Wang (with WeChat).

  Secondary carbon fiber package panoramic sunroof trailer reverse auxiliary Mammoth 1000 (upgrade high-flow supercharger upgrade rear drive wheel upgrade heavy crankshaft shock absorber upgrade thermostat high-flow filter crankcase ventilation system HPE ECM calibration upgrade install chassis dynamometer test hennessey embroidered headrest hennessey external Mammoth badge engine compartment Mammoth limited sign/Mammoth customized front LED rear bumper 20 inch hennessey 35AT tire hennessey level kit)

  The exterior design of the Dodge Tyrannosaurus Rex Mammoth has a strong sense of impact. Compared with the well-behaved family design, the front of the Dodge Tyrannosaurus Rex Mammoth undoubtedly has a little more sense of invasion on the road. The eyes do not reveal a trace of lively charm, but only show fierceness. The front bumper is made of iron with a hook, which exudes a metallic atmosphere and is calm and atmospheric. As the best-selling model, it has a very aggressive front face.

  For more model details, please call: 18920481155 Manager Wang (with WeChat).

  The work of the Dodge Tyrannosaurus Rex Mammoth completely got rid of the American roughness. The edges and seams were carefully handled. The leather seats were independent and equipped with comfortable functions such as heating and massage. Each seat was independently equipped with a control handle, and the functions were controlled by the occupants themselves. All seats of Dodge Ram pickup truck are wrapped in leather, and the front row is also equipped with very practical sports seats.

  For more model details, please call: 18920481155 Manager Wang (with WeChat).

  The design of the 2023 Dodge Tyrannosaurus Mammoth Center Console is simple and hard, which conforms to the temperament of the ram. The bottom of the dashboard has patterns, which further highlights the elegance of this car. The soft instrument panel design is very comfortable to the touch, and there is nothing stiff.

  For more model details, please call: 18920481155 Manager Wang (with WeChat).

  The chassis of 23 Dodge Tyrannosaurus Rex mammoths has also been greatly upgraded. The chassis is made of a large number of high-strength steel to improve the rigidity of the frame. At the same time, the suspension system is also equipped with an adaptive shock absorber from Bilstein, which can reduce the vibration during high-speed desert driving and off-road, and improve driving performance and durability.

  For more model details, please call: 18920481155 Manager Wang (with WeChat).

  The interior of the 23 Dodge Tyrannosaurus Mammoths is simple and generous, but this will not affect its luxurious texture. The rich configuration will make you admire it. At the same time, as the flagship model of the Dodge family, the new car is also equipped with a 12-inch vertical central control screen. In addition to supporting common functions such as Bluetooth, navigation and car Wi-Fi, it also supports Apple CarPlay and Android Auto phones.

  For more model details, please call: 18920481155 Manager Wang (with WeChat).

  In addition to the powerful power, the performance version of the 23 Dodge Tyrannosaurus Mammoths is also first-class in 1500TRX and off-road performance. The clearance between the vehicle and the floor is 28cm, the contact angle is 30.2, the departure angle is 23.5, the passing angle is 21.9, and the wading height is 81.28cm, which can correspond to most sections. In addition, the new car is equipped with an adaptive shock absorber from Bilstein, and the stroke of the front and rear wheels reaches 33/.

  China Automobile Shunhe International Trading Co., Ltd., a company that mainly imports high-end cars of luxury car brands such as Mercedes-Benz, BMW, Toyota, Land Rover, Rolls-Royce, Bentley and Lexus in parallel, provides follow-up services such as insurance, installment, licensing, modification and car delivery.

  Overseas direct-selling first-hand car source All the models sold by our company can be phased in the whole country, and it takes only one day to buy a car by stages. Car purchase can be flexibly operated with convenient conditions such as full ticket tax deduction, decorative ticket, advance payment and departure. More car information configuration quotes and promotions are posted on WeChat, welcome to add!

  (It can be divided into national installments, with a down payment of 10% and a loan of 3-6 years. The procedures are simple and the loan is fast. )

  Company address. Tianjin Port Bonded Area Pacific International Automobile B3-B5-B7-B9

  Tel: 18920481155 Manager Wang can add WeChat.

  Disclaimer: The above car purchase preferential information is provided by the comprehensive dealers of this website, and the price fluctuates greatly due to market factors, which is only for car purchase reference; The distributor is responsible for its authenticity, accuracy and legality, and this website does not provide any guarantee or assume any legal responsibility.

Daily hot spot: the ideal price is lowered! BYD Qin L/brand-new Haval H9/Tengshi Z9GT and others appeared.

Home of the car

[Today’s Aspect]

[Industry Wind Direction]

Home of the car

The order volume of Xiaomi SU7 has exceeded 70,000 units, of which Max version is the most popular. Lei Jun revealed that the delivery target in 2024 exceeded 100,000 units, and the weekly sales volume increased significantly to 2,397 units in the second week of April. SU7 will start the delivery of Pro version at the end of May, and is now fully producing to meet the order demand 3-5 times higher than expected. The price range of Xiaomi SU7 is 215,900-299,900 yuan, and it is equipped with high-end hardware and technology, including battery performance of 510km in 15 minutes and 810km in CLTC cruising range.

Home of the car

Lei Jun, chairman of Xiaomi Group, said on the domestic social platform that the production capacity and delivery speed of Xiaomi SU7 have improved, and early delivery has been achieved. He also recommended other new energy vehicles such as Zhijie S7, Weilai ET5 and Tucki P7 series. Zhijie provides a cash subsidy policy of 5,000 yuan for the owner of Xiaomi SU7 order, which is valid until the end of May. Xiaomi SU7 and Zhijie S7 are highly similar in price and configuration, and both provide endurance of more than 700km.

Home of the car

Xiaomi Automobile answered the questions raised by users, and introduced how to use the Mijia vehicle-mounted portable charging and discharging gun to charge Xiaomi SU7 in places without charging piles, as well as the functions of emergency recharge and external discharge. The preset application in the car can’t be uninstalled, but the application in the app store can. The remote control key will be reminded when the battery is low, and the battery can be replaced by itself. The spoiler (tail wing) has a welcome mode and automatically unfolds. The wiper can be adjusted by voice or operation interface. All versions of Xiaomi SU7 are equipped with 7 airbags.

Home of the car

More than 170 new cars will be exhibited at this year’s 2024 Beijing Auto Show, among which the highlights include the launch of the new Volkswagen Magotan, equipped with 1.5T and 2.0T engines; Ford Fierce Horse Pre-sale, the price range is 300,000-450,000 yuan; Mercedes-Benz pure electric G-class off-road vehicle will be unveiled soon; The racing version of SAIC Audi Q5 e-tron RS kit was launched; Kia Sonay is listed; Ye GT concept car and Roewe D5DMH model pre-sale; Changan Qiyuan E07 and Guangqi Honda e:NP2 made their debut; The new red flag H9 is listed; Mercedes -AMG GT 63 S E PERFORMANCE made a public appearance; Chevrolet explorer Plus started; Porsche Macan EV announces the price; The red flag EHS7 starts; Cadillac IQ proud song listed; Ruifeng RF8 HarmonyOS Edition and Wuling Xingguang Pure Electric Edition are listed; Deep blue G318 opens for pre-sale. There will be new models of brands such as BMW, BYD, Toyota and Lectra.

[Travel dynamics]

Home of the car

Weilai Energy has reached a cooperation with Deep Blue Automotive Technology. Since May, users of Deep Blue Automotive will be able to use charging stations in more than 300 cities in Weilai through App. Weilai has built 3,770 charging stations, 21,931 charging piles and 364 overcharging stations. The cooperation also covers the power exchange service to enhance the charging experience of new energy vehicles.

[Product Information]

Home of the car

The new model M5 is officially released, with a price of 249.8-279.8 million yuan. It contains two versions, extended range and pure electricity, mainly upgrading the configuration and design details, and will be delivered in batches from May 15th. The new car is equipped with closed air intake net, black decoration, HUAWEI SOUND sound, etc., and offers a variety of car colors and interior color matching options. Powered by extended range version and pure electric version, the battery life can reach up to 1440km. The intelligent driving system includes laser radar and multi-camera group, adding remote parking function.

Home of the car

The 2024 Toyota Saina SIENNA went on the market, with the price range of 299.8-410.8 million yuan, and the price after comprehensive discount was 284.8-395.8 million yuan. There are 9 new models, including E-Four four-wheel drive version and Qualcomm Snapdragon 8155 chip car. The exterior design continues the preceding paragraph, while the interior is upgraded with the second row of integrated aviation seats and enhanced central control panel function. The new car is equipped with a hybrid system, and the comfort and handling are improved in the face of competing products such as Buick GL8 and Volkswagen Weiran.

Home of the car

Lectra Auto released the new Lectra 09 MHEV seven-seat four-wheel drive global version, priced at 265,800 yuan, equipped with a 2.0T hybrid system, with a new navy blue tone, LED matrix headlights and 20-inch rims. The interior is designed in brown, providing a high-end intelligent cockpit operating system and a number of assisted driving functions. In terms of power, it is equipped with a Drive-E 2.0T T5 engine and an 8-speed gearbox. The car will be unveiled at the Beijing Auto Show.

Home of the car

Lexus announced that it will launch two concept cars LF-ZL and LF-ZC at Beijing Auto Show to show its electrification direction. As the flagship concept car of pure electricity, LF-ZL is expected to be mass-produced in 2026, with a modular structure and bold appearance, with a size of 5300/2020/1700mm and a wheelbase of 3350 mm. LF-ZC has a sci-fi appearance and pays attention to aerodynamic design. The interior is integrated with bamboo CMF concept, and the intelligent cockpit is equipped with Arene OS system to provide upgrade services and advanced functions.

Home of the car

Huawei and BAIC’s first "Smart Car" Enjoy the World S9 will be launched at the Beijing Auto Show, and it is expected to be listed in July and August, with a price of about 500,000. This pure electric medium and large car has luxurious positioning, simple appearance and spacious interior. The body size is 5160/1987/1486mm and the wheelbase is 3050 mm. Single-motor and dual-motor versions are available, equipped with drive motors produced by Huawei Digital Energy Technology Co., Ltd., with maximum power of 227 kW and 158 kW respectively.

Home of the car

The official map of the 2025 Cayenne GTS was released, and the new model was improved in power. It was equipped with a 4.0-liter V8 twin-turbo engine with a power of 500 HP and a torque of 660N?m. The exterior is sporty, and the interior is widely made of Alcantara material, providing exclusive sports seats. The vehicle is equipped with PASM active suspension and Sport Chrono components, and it only takes 4.2 seconds to accelerate to 96km/h, and the highest speed is 275 km/h. The US market starts at $124,900.

By not encrypting the game, Poland "donkey" became the first in Europe?

  Two days ago, I suddenly saw a news that the market value of CD PROJEKT (hereinafter referred to as CDP) has reached US$ 8.76 billion recently, far exceeding the US$ 8.55 billion of Ubisoft in France, making it the largest game company in Europe. (market value only)

Ranger network

  As a latecomer in the industry, in fact, CDP has a short history. They only set up a game development studio in 2002, but they have made great achievements in the game market at home and abroad with the series of Wizards.

  But such a game company has been insisting on something that looks strange &mdash; &mdash;Don’t encrypt the game.

  Not to mention their own fire game "Wizard 3", even the games sold on their GOG platform are not encrypted for sale, and they are allowed to refund for no reason within 30 days.

Ranger network

  In their fire game "Wizard 3", there is an egg task called "Tower Appearing Out of Thin Air".

  In the game, the owner of the tower adopted a magic defense system, abbreviated as DRM. However, there was a problem with this defense system, which locked the owner of the tower in and disturbed the normal operation of the tower. And if you want to remove this DRM, you need a book called GOG.

Ranger network

  Yes, DRM is the abbreviation of D encryption, GOG is the platform for "Donkeys" to sell their own games, and the owners of the tower are us players.

  This kind of seemingly "confusing" operation can be regarded as the polish "donkey" title given to him by the player.

  So why does CDP insist on the rule of no encryption, which seems to protect game developers at all?

  On this matter, we are going to talk about the deadly Denuvo tamper-proof (D encryption).

Ranger network

  As a necessary means for many manufacturers to protect their games from piracy, D encryption has always been respected by manufacturers, and it has set a record of not being cracked for more than 200 days, and even made many people think that:"There has been no piracy since then."

  This has also set off a wave of D encryption among European and American game manufacturers, and manufacturers all hope that D encryption can protect their interests from piracy.

Ranger network

  But looking at the past 2019,Games that use D encryption but fail to protect for more than a week abound..

  For example, Resident Evil 2 Remastered Edition was cracked on the sixth day after its release, while Subway: Leaving didn’t last until the fifth day, and it was cracked only on the fourth day after its release.

  The Devil May Cry 5 and Fury 2 were cracked within 24 hours of release. (There are also reasons for uploading encrypted EXE files.)

Ranger network

Announcement on the Schedule of National College Entrance Examination in 2020

With the consent of the CPC Central Committee and the State Council, the 2020 National College Entrance Examination (hereinafter referred to as the "College Entrance Examination") will be postponed for one month, and the examination time will be from July 7th to 8th.

The specific subject examination schedule is: July 7, Chinese from 9:00 to 11: 30; Math is from 15:00 to 17:00. On July 8, liberal arts comprehensive/science comprehensive from 9:00 to 11: 30; Foreign languages from 15:00 to 17:00.

Hubei Province and Beijing Municipality may, according to the situation of epidemic prevention and control, study and put forward opinions on the time arrangement of college entrance examination in their own regions, and release them to the public in time after the approval of the Ministry of Education.

Ministry of Education

March 31, 2020

2021 Toyota Senna 2.5 hybrid MPV is the king of cost performance.

  Parallel importer 6: 2021 2.5 hybrid electric vehicle, this car also has special features in power. It is composed of a 2.5L hybrid, matched with CVT gearbox, with super performance. While maintaining strong output, the fuel consumption of the car will be further reduced, which is not only environmentally friendly but also improves fuel economy. It can save a lot of budget to maintain the car later, which is also in line with the requirements of domestic commercial vehicles. In addition, for convenient operation, this car retains the traditional mechanical gear lever, which can be described as well.

  Compared with the old models, the 21 Senna models have undergone earth-shaking changes, adopting the latest design concept of Toyota, and the overall design is bold and radical. In particular, the exaggerated large-mouth air intake grille with a long and narrow front LED headlight combination further enhances the recognition of the front face. The chrome-plated decorative strip above the headlight combination has been perfectly extended, which looks more exquisite, while the overall line of the new Senna side is slender and concave-convex, which reflects the advanced texture after the update.

  21 Toyota Senna 2.5 hybrid car body size parameters: length * width * height: 5095*1985* 1810MM wheelbase: 3030MM front and rear wheel track: 1720MM minimum ground clearance: 164MM second row leg space: 955MM third row leg space: 922MM second row head space: 1008MM third row head space: 973MM second row shoulder space: 1642MM third row shoulder space: 1552MM maximum load mass: 670 KG body structure:

  The design of 21 Toyota Senna 2.5 oil-mixed tail is also very fashionable, which can be said to have undergone earth-shaking changes. The red LED taillights are the biggest design highlight of the whole tail, which not only has a sporty shape, but also has excellent lighting effect. The blue Toyota Iogo indicates the identity of the new Senna hybrid model.

  21 Toyota Senna configurations: length * width * height: 5085*198* 1810MM body structure: 5 doors and 7 seats MPV wheelbase: 3030 curb weight: 2155KG maximum load weight 560 fuel tank volume: 75L air intake mode: naturally aspirated cylinder arrangement mode: V6 number of valves per cylinder: 4 compression ratio: 11.8 valve train: DOHC maximum horsepower: 300 maximum power: 221 maximum power speed: 6600 maximum torque: 357. Four-wheel drive form: full-time four-wheel drive body structure: loaded body brake type: ventilated disc airbag quantity: 10.

  Name of dealer: Tianjin Xiangruitong Automobile Sales Co., Ltd.

  Dealer Address: 203A, Building 10, Yihang International, Binhai New Area, Tianjin

  Dealer’s phone number: Anna Liu 18222552829 (the phone is synchronized with WeChat)

  Disclaimer: The above car purchase preferential information is provided by the comprehensive dealers of this website, and the price fluctuates greatly due to market factors, which is only for car purchase reference; The distributor is responsible for its authenticity, accuracy and legality, and this website does not provide any guarantee or assume any legal responsibility.

Starting from 154,900, the highest price dropped to 55,000. The new smart Elves #1 and #3 put pressure on friends.

[Text/Caiquan Society & Daoge said that the car is shallow] When the price of domestic cars became more and more "outrageous", smart began to stretch. I still remember that the impression of smart at the beginning of the year was 200,000 exquisite cars. On April 14th, the rejuvenated smart Elves #1 and #3 actually jumped directly from 154,900 yuan and 164,900 yuan, which was really surprising. Among them, the guide price range of smart Genie #1 is 154,900-199,900 yuan, and the price is lowered by 25,000-26,000 yuan compared with the old model; The guide price range of smart Wizard #3 is 164,900-219,900 yuan, and the price is lowered by 36,000-55,000 yuan compared with the old model. The adjustment of price strategy reflects smart’s essential understanding of the current competition in the electric vehicle market in China.

While the product price is more close to the people, smart Elves #1 and #3 have repositioned the two products for the domestic market. According to the market environment and user research, some configurations are optimized in the new version, so as to better meet the actual consumption needs of users. At the same time, smart provides a variety of optional packages for close friends to match freely to meet the individual needs of users.

In order to help close friends have the Elf car as soon as possible, smart also launched multiple exclusive rights of close friends in a limited time, including limited-time optional preferential rights, flexible purchase and gift rights, free rights of special colors, replacement rights, repurchase rights, and delivery of bonus points. At the same time, there are various financial schemes such as "0 down payment" and "limited time and low interest" with the lowest annualized rate of 1.99%. The minimum daily supply is only a cup of milk tea, so that close friends can easily own a new luxury car. In addition, close friends can also enjoy four basic rights and interests, including super-long vehicle warranty, super-long three-power core parts warranty, worry-free one-button road rescue, unlimited traffic of vehicles and machines, which is thoughtful and sincere.

New luxury smart SUV, #1 riding the dust!

As the first global pure electric vehicle of smart brand, smart Elf #1 has been highly praised by the industry media and users for its new luxury aesthetics and excellent handling in different road conditions since its launch. Recently, this car has been delivered in batches in Hong Kong. The volume of orders in the past two months even exceeded the total sales of Porsche in Hong Kong in 2023. Among them, the performance version of BRABUS accounts for more than 90% of the orders, making it a veritable dark horse of the same class in the local sales. This achievement is undoubtedly remarkable for Hong Kong, a highly competitive market with picky consumers’ tastes.

Nowadays, this boutique car that has been riding in many consumer markets has ushered in a new look. In terms of face value, we continue to adopt the design philosophy of "Sensibility and Lingrui" tailored by Mercedes-Benz global design team: light and shadow penetrating front and rear LED headlights, frameless doors and hidden door handles, and "inspiration ring" suspended contrasting roof, which fully demonstrates the new luxury and fashion taste.

In the interior, it inherits the design concept of "compact outside and wide inside", with 20 flexible storage spaces and a minimalist T-shaped intelligent cockpit, creating a high-quality inspiration space for exclusive close friends.

Intelligently, it is equipped with the smart Pilot Assist intelligent driving system and the smart OS full-scene digital eco-car system, so that each elf has a lively and lovely elf assistant Avatar, and users can enjoy the intelligent and comfortable driving experience at any time.

New luxury sports coupe, open the door and see #3!

As the second global masterpiece of smart Elf series, smart Elf #3 has been released and delivered in many markets such as China and Europe, and has become the love of global hipster fans.

Externally, following the design philosophy of "sensibility and agility", smart Genie #3 won the blessing of the global design team of Mercedes-Benz: the avant-garde and dynamic slip-back shape, combined with the organic combination of muscular feeling and life lines, "stealing the mirror".

In terms of interior, the sports car-class low sitting posture, T-shaped smart cockpit with integrated embracing coupe seat and 1.6m2 immersive canopy further enhance the new luxury sports atmosphere owned by Smart Elf #3, which is "true atmosphere".

In addition, smart Genie #3 has the leading dynamic driving performance at the same level, and the dynamic four-wheel drive version is equipped with a dual-motor intelligent four-wheel drive system, which only takes 4.3s to accelerate 100 kilometers. The whole system adopts the former McPherson rear five-link independent suspension, and the sports chassis jointly adjusted by the smart team and the Mercedes-Benz expert team is "driving and controlling the true type".

It is worth mentioning that, at the launch conference of smart Genie #1 and #3, Tong Xiangbei, CEO of smart Brand Global Company, also implicitly poked a certain meter with high popularity recently. He sat in the car for example: this textured rubber made three bulges and hold the cup by the elasticity of the bulges. In this way, it lost eight moving parts compared with us. How much did it cost? Of course, this kind of texture looks like a brand from a distance, but in fact, if you look at this detail carefully, there is no way to see it everywhere.

The implication is that the control of smart cars in details is quite exquisite, which is not the same as that of some brands.

It can be seen that in order to occupy a place in this year’s more involved competition in China electric vehicle market, smart has not only prepared for the price, but also prepared for the product quality control. Smart Elves #1 and #3, which are already famous, will undoubtedly become a strong support for brand sales after price reduction and upgrading.

At the beginning of the year of "global transition", smart will continue to adhere to the core operation concept of "user center", bring new luxury travel and luxury quality to more close friends with a new look, and constantly "explore the best solution for future urban transportation".

Securities Times Newsletter reads major financial news and announcements of listed companies free of charge through mobile APP and website in real time.

  The Company and all members of the Board of Directors guarantee the truthfulness, accuracy and completeness of the information disclosure, and there are no false records, misleading statements or major omissions.

  On February 18th, 2024, the National Internet Information Office (hereinafter referred to as "the Internet Office") announced the fourth batch of filing information of deep synthesis service algorithms, and Fangxin Technology Co., Ltd. (hereinafter referred to as "Fangxin Technology"), a wholly-owned subsidiary of Jincai Internet Holdings Co., Ltd. (hereinafter referred to as "Fangxin Technology"), filed the "Xinzhiyue Finance and Taxation Model Algorithm" through the deep synthesis service algorithm. The relevant information is hereby announced as follows:

  I. Relevant information about the filing of "Xinzhiyue Finance and Taxation Model Algorithm"

  According to the requirements of Article 19 of the Regulations on the Management of Deep Integration of Internet Information Services issued by the Information Office of the People’s Republic of China, deep integration service providers with public opinion attributes or social mobilization ability shall go through the filing, alteration and cancellation procedures in accordance with the Regulations on the Management of Internet Information Service Algorithm Recommendation. Fangxin Technology applied for filing the "Xinzhiyue Finance and Taxation Model Algorithm" to the Internet Information Office in accordance with the requirements of relevant regulations. The contents of the filing are as follows:

  Second, the basic situation of "Xinzhiyue fiscal and taxation model algorithm"

  The "Xinzhiyue Finance and Taxation Model Algorithm" model for this record was signed by Jincai Internet and a third-party general model company in September, 2023. Xinzhiyue Finance and Taxation Model relies on the rich finance and taxation knowledge accumulated by Jincai Internet for many years, follows the principle of "safety, kindness, credibility and controllability", takes Pangu Model as the base, uses a large amount of finance and taxation data for training and optimization, and is mainly applied to dialogue generation scenarios. According to the consultation text or input by users,

  Based on Xin Zhiyue’s fiscal and taxation model, the semantic understanding and reasoning ability in fiscal and taxation field, combined with fiscal and taxation professional knowledge, provide intelligent online fiscal and taxation knowledge consultation, policy and regulation interpretation, case analysis, risk intelligent diagnosis, tax and fee calculation and other services for business owners and fiscal and taxation practitioners. While improving the efficiency of user consultation service, it also improves the user experience, so as to improve the quality and efficiency of service.

  Third, the impact on the company

  This algorithm has been put on record by the Network Information Office. The company will continue to extend the practical innovation based on Xinzhiyue big model to the enterprise business system, connect business management with ticket finance and taxation, and build an intelligent digital tax agent to help enterprises achieve "compliance, reduce burdens and increase profits", which is of positive significance to the company’s subsequent product launch and business development.

  Fourth, risk warning

  1. The application product of the company’s "Xinzhiyue Finance and Taxation Model Algorithm" is TaxGPTs, which is still in the trial stage and has not affected the company’s operating performance yet.

  2. This filing is only a necessary procedure for relevant institutions to perform according to relevant laws and regulations, and the passing of filing does not mean the approval of our products or services.

  3. In the research and development process of artificial intelligence related technologies, the company is faced with the requirements of technical update iteration, which has certain uncertainty, and there is still great uncertainty as to whether the expected effect can be achieved in the future.

  4. In the future, as more enterprises and technical teams launch large model products, the competition in the field of artificial intelligence may be further intensified.

  The company will strictly comply with the provisions and requirements of relevant laws and regulations, earnestly fulfill its information disclosure obligations and do a good job in information disclosure in a timely manner. Investors are requested to invest rationally and pay attention to risks.

  It is hereby announced.

  Board of Directors of Jincai Interconnection Holdings Co., Ltd.

  February 20, 2024