Major events in the science and technology week (October 23rd-29th): Xiaomi’s launch of OS and Xiaomi 14 series new products, the rendezvous and docking of Shenzhou 17 and the space station, and the a

"Science and Technology Week Events" reviews the important events in the science and technology industry in the past week (October 23 -29), and the following broadcast begins:

In view of the topic "QQ mailbox begins to provide paid membership service", Weibo of QQ mailbox issued a document saying that basic functions such as sending and receiving emails are completely unaffected, and the free capacity of 16GB mailbox can meet the needs of most users. Member services are introduced to meet some users with higher requirements, including capacity expansion services such as mailbox capacity of 2048G, transfer station capacity of 2048G, and a single oversized accessory of transfer station 10G, as well as value-added services such as 90-day validity period of oversized accessories of transfer station, online decompression and VIP email address. > > view details

On the evening of October 23, the official account of Huawei Group issued a statement saying that some of the so-called "Huawei will launch 10,000 6G mobile low-orbit satellites" from the media were purely rumors. The online rumor that "Huawei will launch 10,000 6G mobile low-orbit satellites" is purely a rumor. The rumor maker has no basis and makes much ado about nothing. The same information is spread on multiple platforms and accounts. Please don’t believe it, don’t pass it on, and report it decisively. > > view details

On October 23, "the whole department price plummeted" rushed to the top of the hot search. According to reports, the current 128GB version of 15/15 Plus is priced at 5198 yuan and 6098 yuan on individual e-commerce platforms, while its official website price is 5999 yuan and 6999 yuan respectively, which is more than that of 800 yuan. At the same time, the channel price difference between the two series of 256GB versions is generally around 800 yuan to 1000 yuan. > > view details

According to The Paper, it was learned from a number of people familiar with the matter that several core business leaders of PICO have recently left their posts and been transferred. In the first half of this year, Ren Lifeng, vice president of PICO, was actually in a state of resignation, and he was not responsible for the business management of PICO for a long time, but he still worked in the company. At present, Ren Lifeng’s status of "flying books" in ByteDance’s internal system is "asking for leave". According to informed sources, Ren Lifeng will officially leave his post at the end of this year. > > view details

Hurun Research Institute released the Hurun Rich List in 2023 on October 24th. Zhong Shanshan, a 69-year-old farmer from Nongfu Spring, became the richest man in China for the third time with 450 billion yuan. Tencent’s 52-year-old Ma Huateng’s wealth increased by 65 billion (30%) compared with last year, reaching 280 billion yuan, returning to the second place after 2020, up 3 places from last year; Pinduoduo’s 43-year-old Huang Zheng’s wealth increased by 100 billion yuan (59%) compared with last year. He is the entrepreneur with the largest increase in wealth on this year’s list. He entered the top three for the first time with 270 billion yuan, up seven places from last year. > > view details

Qualcomm held the Snapdragon Summit in the early morning of October 25th, and officially announced the Snapdragon 8 Gen 3 processor, which will become the flagship standard processor in 2024. According to Qualcomm, the performance of the new 8 Gen 3 is 30% higher than that of the previous generation, and the energy efficiency is 20% higher. It also provides 25% GPU performance improvement and 20% energy efficiency improvement. Adreno 750 GPU GPU supports hardware ray tracing and 240 FPS games. > > view details

In the early morning of October 25th, Apple announced the second autumn activity in 2023, which is scheduled to be held at 5:00 pm Pacific time on Monday October 30th, which is converted to 5: 00 am Beijing time on October 31st. The event in October is expected to focus on Mac series computer products, and Apple is expected to update iMac. > > view details

On October 25th, the General Office of the State Council issued a notice on the specific arrangements for the holidays of New Year’s Day, Spring Festival, Tomb-Sweeping Day, Labor Day, Dragon Boat Festival, Mid-Autumn Festival and National Day in 2024.

"Late Auto" reported on October 25th that all the salespeople in the international community will join Huawei’s wholly-owned subsidiary "Shenzhen Huitong Business Co., Ltd." and become Huawei’s supernumerary employees, and the renewal will be completed next year.

In this regard, Huawei and AITO Automobile both responded that the information was untrue. > > view details

According to CCTV news reports, on the morning of October 25th, the National Data Bureau was officially unveiled. The National Bureau of Data is responsible for coordinating and promoting the construction of data basic system, coordinating the integration, sharing, development and utilization of data resources, and coordinating the planning and construction of digital China, digital economy and digital society, which is managed by the National Development and Reform Commission. > > view details

At the new product launch conference on the evening of October 26th,Xiaomi 14 mobile phoneOfficially released, the machine adopts a 6.36-inch small screen, the narrowest vertical frame is 1.61mm, and it is designed with rounded corners. The glass version is 8.29mm thick and weighs 193g, and the nano leather version is 8.28mm thick and weighs 188g g. The specific price is as follows:

Xiaomi has launched a brand newXiaomi 14 Pro Cell phone. This phone is divided into three versions:

Other contents include:

The State Press and Publication Administration released the approval information of domestic online games in October 2023 on October 26th. It is found that games such as "Great Immortal Training Simulator" and "Sword Net 3 Boundless" are on the list, while Netease has a "Shooting Carving" that has passed the examination and approval, and Tencent has not reviewed any games this month. > > view details

According to the latest report released by Counterpoint Research, the sales volume of smart phone market in China in the third quarter of 2023 decreased by 3% year-on-year, which narrowed the year-on-year decline. It is believed that the market has bottomed out, releasing a signal of recovery.

According to statistics, thanks to the newly launched glory X50 and glory 90 mobile phones, glory leads the market with 18.3% market share. Driven by competitive promotion prices, sales of Redmi K and Note series are strong, with Xiaomi increasing by 5% year-on-year. > > view details

On October 26th, the Shenzhou 17 manned spacecraft successfully docked at the forward port of the space station and the core module, and three astronauts then entered the space station and the core module.

On the morning of October 26th, Shenzhou 17 was successfully launched. The Shenzhou 17 spacecraft docked with the forward port of the core module of China Space Station, forming a three-module Mifune assembly. After the handover with the Shenzhou 17 spacecraft crew, the Shenzhou 16 crew will return to Earth on October 31, ending the "business trip" in space for nearly half a year. > > view details

Previously, the online transmission of Weilai NIO Phone was OEM by OPPO, and the built-in system SkyUI was based on Meizu’s Flyme. Li Wei, the head of Weilai Drivers’ Internet, responded by saying, "I did talk to these two companies (OPPO and Meizu) about cooperation, but unfortunately, it didn’t succeed." > > view details

According to the foreign media "Hollywood Reporter", "Wandering Earth 2" has entered the exclusive streaming media service in Academy of Motion Picture Arts and Sciences, which means that the film will compete for the Best International Film Award in 2024 on behalf of China. > > view details

According to CCTV news reports, according to the scheduled plan, the crew of Shenzhou 16 astronauts will return to the Dongfeng landing site in the near future. On October 27th, the landing site has organized all search and rescue forces to launch the last comprehensive system-wide drill, including more than 10 search and rescue forces, 5 helicopters, and nearly 100 vehicles and equipment such as command vehicles, search vehicles, medical supervision and rescue vehicles and disposal vehicles. According to reports, all preparations are now ready, waiting for Shenzhou to go home. > > view details

The joint money is sold out in 2 hours! Traveling in spring, wearing a fire and hot search, Hanfu transactions doubled year-on-year

  Plunge into the spring, how do you plan to "spend the spring"? On the social platform, buying a Hanfu suit suitable for traveling and taking photos has become a ceremonial feeling for young people to welcome spring.

  The temperature is rising, and the seasonal wardrobe of Hang Cheng netizens is full of "new Chinese style". "I have already stocked up the thin Hanfu, just waiting for the beautiful weather."

  "I can’t buy it, I can’t buy it at all, and I beg the merchants to step on the sewing machine." On social platforms, some netizens said that they didn’t expect to find an explosion all by hand.

  On March 18th, the spring Chinese clothing series "Spring and Jingming" jointly signed by Taobao Clothing and Nanjing Museum was launched. Inspired by the cultural relics collected by Nanjing Museum, such as Qingganlong Furong Stone Flattened Ear Cover Furnace (Small Powder Furnace), this joint series invited many Taobao original Chinese clothing stores such as Chuandai, Yuanshanqiao and Anytime to create designs together.

  Xiao Juan’s favorite is a three-piece suit of powder crystal, jade and pink gradient printing, which is inspired by the "small powder furnace". The fabric material is jacquard yarn and jacquard satin, the skirt is decorated with embroidery, and the furnace shape is outlined with gold thread, which is full of details. "It was sold out soon after it went online, just waiting for the follow-up replenishment notice." It is understood that 4 days after the launch, the total transaction amount of Nanbo joint-name Hanfu was nearly one million, and the explosion was sold out in less than 2 hours.

  According to the data of Taobao New Power Week in Spring and Summer, this year, the sales of Hanfu, new Chinese style and other clothing have risen. In March, the sales of Hanfu increased by 115% year-on-year, with an average of over 1 million people searching for Hanfu on Taobao every day. In the industry’s view, national style is one of the most popular trend styles in the clothing industry in the past two years, and more and more young people are willing to wear cultural self-confidence.

  In addition, on March 20th, at the Red Man Night event site, Taobao specially awarded the annual Red Man Award for Guofeng, a new track, and arranged a wonderful 12-flower God Guofeng catwalk to show the ultimate oriental aesthetics. "The influence of traditional culture continues to be released, which has also driven the demand for new national style to continue to heat up." Taobao said.

  It is worth mentioning that this year’s 2024 "Silver Needle Clothing Guide" of Taobao Clothing also split the new Guofeng track into new Hanfu and new Chinese style, providing more display channels for Guofeng merchants.

  Among them, the turnover of "New Chinese Style" award-winning shops increased by 161% in the first three days of the opening of New Power Week, and the national style is becoming daily.

  March is a season suitable for traveling in spring, and many consumers are getting used to buying a new Hanfu in spring. According to the analysis of Taobao Hanfu team, as China people’s own "holiday clothes", before the May Day holiday, the new national costume will usher in a small growth peak.

Introduction of traditional festivals in China-Tomb-Sweeping Day

    Qingming-It means sunny weather, fresh and clean air, gradual warming and lush vegetation. The Gregorian calendar is about April 5 every year for Qingming. Qingming is the fifth of the 24 solar terms. The ancient book "Questions at the Age of 100" said: "Everything grows up to this time, all clean and bright, so it is called Qingming." Qingming Festival is not only an important farming season, but also the only solar term among the 24 solar terms that has evolved into a folk festival, so it is also called Tomb-Sweeping Day.


    The traditional Tomb-Sweeping Day in China began in the Zhou Dynasty and has a history of more than 2,500 years. Qingming Festival is a very important solar term at first. As soon as Qingming Festival arrives, the temperature rises, which is a good season for spring ploughing and spring planting. Therefore, there is a saying that "before and after Qingming Festival, melons and beans are planted". The agricultural proverb "Planting trees is better than Qingming". Later, as the days of Qingming and cold food approached, and cold food was the day when people banned fire from sweeping graves, gradually, cold food and Qingming became one, and cold food became another name of Qingming and a custom of Qingming. On Qingming, no fireworks were used, only cold food was eaten.


    Tomb-Sweeping Day, also called March Festival in ancient times, is one of the 24 solar terms. Among the 24 solar terms, Qingming is the only one that is both a solar term and a festival.


    Origin of Tomb-Sweeping Day During the Spring and Autumn Period and the Warring States Period, it is a festival of Han nationality in China, and it is one of the 24 solar terms in China, and the time is around April 5 of the solar calendar every year. After Tomb-Sweeping Day, the rain increased, and the earth showed the image of spring and tranquility. At this time, everything "spits out the old and absorbs the new", whether it is the vegetation in nature or the human body coexisting with nature, at this time, it changes the filth of winter, welcomes the breath of spring and realizes the transformation from yin to yang. 


    In ancient times, it was said that the day before Qingming Festival was the "Cold Food Festival". According to legend, it began in the Spring and Autumn Period when Jin Wengong mourned meson’s "cutting stocks to satisfy hunger", and then gradually Qingming Cold Food became one. The date of grave sweeping in Tang Dynasty was generally in Cold Food Festival, and it was moved to Qingming after Song Dynasty. Legend has it that the origin of "Cold Food Festival" is Jiexiu in the middle of Shanxi Province. The origin of Jiexiu is to commemorate meson’s "cutting stocks to satisfy hunger" and not to repay it, and finally he died here in Yamakaji, so Mianshan is also called "Jieshan".


    According to legend, after Dayu’s flood control, people used the language of "Qingming" to celebrate that the flood had been eliminated and the world was at peace. At this time, spring blossoms, everything recovers, and the sky is clear and bright, which is a good time for a spring outing. Going for an outing began as early as the Tang Dynasty, and it has become a habit through the ages. In addition to enjoying the beautiful scenery of lakes and mountains and spring scenery, we also carry out various recreational activities to increase the interest of life. 


  custom Grave-sweeping is popular in Tomb-Sweeping Day, but it is actually the content of the Cold Food Festival in Tomb-Sweeping Day the day before. It is said that cold food originated from Jin Wengong’s mourning for Jiezhi. In the twentieth year of the reign of Emperor Xuanzong of the Tang Dynasty, he ordered the world to "eat cold food to the grave". Because the cold food was connected with Qingming, it was gradually spread to tomb sweeping in Qingming. During the Ming and Qing Dynasties, tomb sweeping was more popular. In ancient times, children often flew kites when sweeping graves. Some kites are equipped with bamboo flutes, which can make a sound when the wind blows, just like the sound of a kite. It is said that this is how the kite got its name. 


    There are many lost customs in Tomb-Sweeping Day, such as wearing willows, shooting willows and swinging, which have been circulating for a long time in ancient times. According to records, the customs in Liao Dynasty were the heaviest in Tomb-Sweeping Day, and the people from the imperial court down to the common people enjoyed swinging, and the ladies gathered, and the wind of outing was also extremely prosperous. 


    After the founding of New China, people pay homage to the martyrs’ tombs on this day to remember the revolutionary ancestors.

Editor: Chen Chang ‘e

Selecting insiders and manipulating competitions … God knows what China sports has experienced in recent years.

  CCTV News:A few days ago, Fiona Fang magazine sponsored by Procuratorial Daily published an article entitled "Shocking Corruption at the Top of Sports in China". The article listed some relevant measures and some specific cases of anti-corruption in China sports since the 18th National Congress. How did China sports experience the pain of reform in the past five years? Xiaobian tells you through several stories.

  Twin sisters regret retiring.

  In May, 2017, twin sisters Hua Jiang Wenwen and Jiang Tingting returned to the stadium to win the gold medal at the award ceremony of the Flower Tour Double Event in the 13th National Games. Four years ago, because of a controversial referee’s score, the Wen Ting sisters, a world-famous flower swimming group, only achieved the third place in the National Games, ending their sports career with a bronze medal, while the host group Liaoning won the championship.

  The nearly perfect performance was awarded a low score by the referee. The score of the Liaoning team on the final day of the same set of competition actions was 2.2 points higher than that of the previous day’s preliminaries. All doubts pointed to Yu Li, then the head of synchronized swimming department of the General Administration of Sports, but after the game, Yu Li said in an interview: "The referee did not violate the relevant general rules and regulations in the scoring process, so the final score was determined to be effective and the original result was maintained."

  One year after the National Games in Liaoning, CPC Central Commission for Discipline Inspection made an all-round tour of the State Sports General Administration. After nearly one and a half months of inspection, the inspection results were announced, in which "the selection and selection of referees are not standardized, and the competition violates the principle of fairness and fraud" has become the focus of attention. On the third day after the announcement of the inspection results, the General Administration of Sports reported that an official was investigated for allegedly manipulating the competition and accepting improper bribes, and the person who was taken away was Yu Li, the former minister of the water polo department of the swimming center.

  According to authoritative media reports, in the 12th National Games, in order to "take care of" the host team’s "gold medal task", Yu Li, the former head of the National Flower Tour Team, accepted a bribe of 200,000 yuan from the director of Liaoning Swimming Center, resulting in a major scoring dispute in the flower tour project.

  In fact, the phenomenon of using authority to operate competitions like Yu Li is by no means a case in China sports, and it has even become a "hidden rule" in many projects. At the 10th National Games, Tian Liang, a famous diver, was suppressed because of his "bad relationship" with a leader of the China diving team. Before the game, in the referee’s lounge, a sports executive demanded that "no matter how well Tian Liang dances, he can only give 8.5 points at most". In the competition, after a perfect entry in Tian Liang, except one referee who gave a high score of 9.5 according to the standard, other referees really only gave 8.5 points. The referee who gave a high score finally lost the qualification of "best referee" and resigned soon after offending the leader.

  Although the official has not announced the exact reason why Yu Li was taken away, what is certain is that she can’t escape the common crime of accepting bribes or corruption. According to several media reports, although Yu Li and her husband Liu Fengyan, as cadres of the General Administration of Sports, obtained two houses allocated by the General Administration, Yu Li thought that their living conditions were not good enough, and then bought a 200-square-meter commercial house at a price of nearly 51,000 square meters, but the problem is that no one knows where the money came from.

  The table tennis player ran away angrily.

  Donna entered the national youth team at the age of 13 and won the national youth championship at the age of 16. She was called a "genius" of table tennis by the outside world, but she never participated in the world championships and the Olympic Games in the national team. Later, she changed her nationality and went to South Korea to play. After that, she won 10 games in the Korean Table Tennis Championships, ranking first in the women’s singles.

  "The Chinese Table Tennis Association does not pass the trials, but designates potential players in advance for centralized cultivation." According to media reports, Donna even said that South Korea is her motherland and hoped to enter the Olympic Games on behalf of South Korea, which caused great controversy.

  According to titan sports, Yu Li was not taken alone to assist in the investigation. She was also taken with an ace coach of the weightlifting team. It is mentioned in the article that this involves an ugly drama of China weightlifting team in the 2012 London Olympic Games. At that time, Zhou Jun, a 53kg Hubei native who represented China team, failed in snatch three times, creating the worst result of China women’s volleyball since she participated in the Olympic Games in 2000, and Zhou Jun’s qualification for the Olympic Games was also the result of the struggle of local interests.

  The similar shady selection is not a case. Take the national football team as an example. The list of players of each national team is full of disputes. As early as 2014, CPC Central Commission for Discipline Inspection also published the article "What can the professional reform do to save the" deflated football "for more than 20 years? Named the phenomenon of chaotic football management in China.

  In this paper, the expressions such as "the examination and approval of the competition and the selection and appointment of athletes and referees are not standardized, open and transparent", "the competition violates the principle of fairness, practices fraud", "the development and operation of the competition are chaotic" and "the power of the units directly under the General Administration is highly concentrated" have aroused strong repercussions from netizens, especially the majority of football fans, and China football has once again been pushed to the forefront.

  According to insiders, although the strength is the first in competitive sports, the selection of national team athletes has become a matter of great interest in many absolutely superior events, and it is easier to trigger some private power and money transactions.

  The incident of Yu Li caused an uproar among the public, and also opened the tip of the iceberg of China sports corruption. On June 25th, 2015, official website, the Supervision Department of the Central Commission for Discipline Inspection, announced that Xiao Tian, deputy director of the State Sports General Administration, was suspected of serious violation of discipline and law and was currently under investigation. From July 2014 to July 2015, more than 10 officials were investigated in the State Sports General Administration, sports project management centers and provincial and municipal local sports bureaus in one year.

  On March 21st, 2017, CPC Central Commission for Discipline Inspection launched a new round of inspection of the General Administration of Sport. According to the website of CPC Central Commission for Discipline Inspection, this patrol will achieve full coverage for 22 subordinate units of the State Sports General Administration, and "keeping an eye on key people, key matters and key issues" has become an important direction of this patrol. A series of chaos in the selection of athletes highlights the grim situation of corruption in sports, and it is urgent to crack down on the corruption of sports industry officials.

  China men’s basketball team is struggling.

  With the retirement of Yao Ming, Wang Zhizhi and other veterans, the performance of China men’s basketball team in the international arena plummeted. In addition to the reasons for the lack of success, there are deeper reasons for the fall of China men’s basketball team.

  "It is inconceivable that even a company holding a three-person basketball game needs the approval of the Basketball Association. Internationally, the Olympic Games, NBA and other events are organized by non-governmental organizations and operated in a market-oriented manner. There is no official approval at all. "

  According to Qiao Xinsheng, dean of the Institute of Integrity of Zhongnan University of Economics and Law, this is a disguised form of "power rent-seeking". The General Administration of Sports and the local sports authorities have formed a huge "interest chain" and turned it into a tool to gain the gray interests of the department.

  This point was also mentioned by Yao Ming, a basketball star and member of Chinese People’s Political Consultative Conference, in the "National Conference". He believes that at the current stage of development, there is no inevitable reason for the approval of sports events.

  Yao Ming pointed out that competition management and approval fees are often collected by the management centers of various sports, and the standards vary widely, which is easy to breed corruption; However, the sports management department interfered with the allocation of resources that could have been allocated by the market with the administrative hand, and also formed a monopoly objectively, which seriously hindered the enthusiasm of social forces for running sports and caused the fact of artificially setting a "threshold" for running competitions.

  Yao Ming’s proposal was adopted in the government work report of that year. However, people in the industry believe that sports departments at all levels have implemented the examination and approval of sports events for many years, and it will be difficult to remove this "cake of interests" from internal reform.

  In fact, it was not until the Central Inspection Team pointed out that "the examination and approval of sports events was irregular and opaque, highlighting the interests of departments" that the General Administration of Sports was forced to rectify its position, "canceling the examination and approval of commercial and mass sports events, and all other sports events were not required except national comprehensive sports events such as the National Games, the National Winter Games and the National Youth Games, and a few special types of sports events involving national security, politics, military affairs and diplomacy".

  Facts have proved that the cumbersome examination and approval process can not provide positive energy for the management and operation of sports events itself except for breeding the soil of "power rent-seeking". In November 2016, the new director of the General Administration of Sports, Gou Zhongwen, took office, and several major reforms and anti-corruption measures were successively introduced: from February to May this year, various forms of anti-corruption special meetings and anti-corruption inspections were held for four consecutive months, and 15 subordinate units were inspected as of May 28, and more than 180 problems were pointed out; In addition, Yao Ming, Lang Ping and other professionals are allowed to settle in trade associations to lead the reform in related fields … … The effect of this series of measures can only be tested by waiting for future events and achievements. (Text/Cheng Xiang)

Why is Meng Qi, the largest English training institution for children in Hong Kong, a thousand miles away?

Meng Qi Qianli, a local English training institution for children in Hong Kong, submitted an application for listing in Hong Kong.
Author | Matcha Latte
Source | IPO that thing
Data Support | Pythagorean Big Data
Friends who like to watch variety shows have probably seen a program of Hunan Satellite TV called "Where is Dad going?". In the program, two small Hong Kong men-Feynman, the son of Wu Zhenyu, and Jasper, the son of Jordan chan-are both very popular second generation stars. Apart from being from Hong Kong, they all have one obvious thing in common, that is, they all speak fluent English, which is also one of the great highlights of the program. Outside the program, we can easily conclude that Hong Kong people attach importance to English from dolls, which largely depends on the historical development, cultural atmosphere, economic strength, government support and other factors of the city. Including the author’s study in Hong Kong, I also found that most of the Local students around me are proficient in English, which must be inseparable from their childhood language influence.
In addition to the training of schools and families, extracurricular English training institutions are naturally indispensable. According to the consulting report, from 2014 to 2018, the tuition income of English learning centers for children (aged 2 to 12) in Hong Kong increased from 1.379 billion (HK$, the same below) to 2.056 billion, with a compound annual growth rate of 10.5%, and will continue to grow to 3.327 billion from 2018 to 2023.
On July 8th, Meng Qi Qianli Group Holding Co., Ltd. (hereinafter referred to as "Meng Qi Qianli"), a local children’s English training institution in Hong Kong, submitted an application for listing in Hong Kong, showing that the exclusive sponsor was Ballas Capital. Meng Qi Qianli was established in 2009, mainly providing English courses for children aged 3-12. At present, there are 77 Monkey Tree learning centers, and about 96% of its income comes from the Hong Kong market.
In this way, the business involved in Meng Qi Trinidad should be regarded as a good business in Hong Kong. Then, can Meng Qi’s next capital road be smooth?
one
The largest supplier of English learning courses for children in Hong Kong market.
Meng Qi Qianli is a Hong Kong-based English learning course provider for children, which mainly provides English courses for students aged 3 to 12 under the brand of "Monkey Tree". Up to now, there are 77 Monkey Tree learning centers in Meng Qi Qianli, including 18 self-operated centers in Hong Kong and 43, 3 and 13 franchised centers in Hong Kong, Macau and China.
According to the consulting report, children’s English learning industry in Hong Kong is still relatively scattered, and competition is expected to intensify in the future. According to the revenue in 2018, the total market share of the five major market participants is about 29.5%, among which Meng Qi Qianli ranks first with a market share of about 9.9%.
As far as courses are concerned, most of Meng Qi Qianli employ English-speaking teachers to educate students in a relatively small-scale learning environment, with no more than eight students in each classroom, thus improving the teaching quality through close interaction with teachers. At the same time, Meng Qi Qianli also indicated in the prospectus that it would design interactive activities and games for the classroom, such as singing and role-playing, to stimulate students’ interest and stickiness.
It is worth noting that the Monkey Tree Learning Center (self-operated+franchised) of Meng Qi Qianli Line is unified in the process of site selection and opening, teacher recruitment, training and support, marketing, curriculum outline and course textbook production, and can enjoy a certain degree of economies of scale and reproducibility.
two
The business income structure is single, and the future expansion growth rate is doubtful.
Let’s take a look at the financial performance of Meng Qi Qianli. Note that the node of its financial year is March 31st every year.
In fiscal years 2017, 2018 and 2019, the Monkey Tree Learning Center enrolled 14,745 students, 17,023 students and 19,248 students respectively, among which 4,635 students enrolled in the self-operated center, 6,103 students enrolled in the self-operated center and 6,793 students enrolled in the franchise center, respectively.
From the perspective of revenue structure, Meng Qi Qianli’s revenue mainly comes from self-operated centers, accounting for 92.7%, 92.8% and 92.2% of the total revenue in fiscal year 2017-2019, respectively, while the total revenue of affiliated centers and facilities does not exceed 8% of the total revenue, resulting in a relatively simple revenue structure of the company. In terms of regional distribution, since the company’s 18 self-operated centers are all located in Hong Kong, its revenue mainly comes from Hong Kong, accounting for 98.8%, 98% and 96% of the total revenue in fiscal year 2017-2019, respectively, while Macau and Chinese mainland account for very little. The income structure and regional distribution are relatively simple, which will hinder the sustained growth of Meng Qi Qianli’s future income. In particular, the English learning market for children in Hong Kong is still scattered, with fierce competition, and the size and space of the population are relatively limited compared with the mainland.
At the same time, although it is the "main force" of Meng Qi Qianli business, the operating conditions of Monkey Tree self-operated center in Hong Kong have been deteriorating in recent years. In fiscal years 2017, 2018 and 2019, four, three and two were added (one was closed) respectively, and the local expansion was slightly weak. In FY 2019, the number of students enrolled in the self-operated center of Meng Qi Qianli increased by 11.3% year-on-year, which was slightly lower than that of the affiliated center (14.1%).
Facing the resistance of business expansion, on the one hand, Meng Qi Qianli decided to enhance the competitiveness of self-operated centers and franchise centers, systematically renovate Hong Kong self-operated centers and franchise centers in the future, and develop online teaching research and teaching teams. On the other hand, the company also plans to establish branches in mainland cities such as Shenzhen, Shanghai, Chengdu, Guangzhou, Guiyang, Hangzhou, Foshan, Huizhou and Zhongshan, and extend its self-operated centers out of Hong Kong.
In terms of net profit, in fiscal years 2017, 2018 and 2019, Meng Qi Qianli recorded 13.678 million, 14.063 million and 19.264 million respectively, with growth rates of 2.8% and 37.0%. In fiscal year 2019, the company’s net profit increased greatly, mainly due to the improvement of operating efficiency, and the net profit increased by 1.7 percentage points to 11.2%. Among them, the advertising and promotion expenses of the company accounted for only about 2.2% of the total revenue during the period, and the cost of obtaining customers was low, thanks to the excellent popularity of Monkey Tree in Hong Kong. However, if the company enters the mainland market in the future and stands out among many extracurricular brands, it is necessary to increase the publicity of "burning money" and the profit rate is difficult to maintain. More importantly, there is also uncertainty about the effect obtained after vigorous publicity.
In addition to the pressure of business expansion, Meng Qi Qianli is a little strange in assets. For example, in FY 2019, although the total assets in Meng Qi Qianli’s account increased year-on-year, the fixed assets in current assets dropped sharply, which was replaced by the increase in receivables in current assets, including many sensitive transactions such as directors and affiliated companies.
three
Is it happy or sad that the sprint capital hits the compulsory education "citizens recruit together"?
Interestingly, on July 8th, the same day that Meng Qi Qianli submitted its application for listing, the State Council issued the Opinions on Deepening Education and Teaching Reform and Improving the Quality of Compulsory Education in an All-round Way. According to the opinion, the enrollment of private compulsory education schools is included in the unified management of examination and approval, and enrollment is synchronized with public schools; If the number of applicants exceeds the enrollment plan, computer random admission will be implemented.
For training institutions, under the dual influence of citizens’ common recruitment and over-computer random enrollment in private schools, the trend and uncertainty of parents’ school choice have been further enhanced, and the willingness and demand for subject-based remedial training caused by anxiety for further studies have cooled down, which may not be a good thing for K12 extracurricular training institutions, and may have a certain negative effect on Meng Qi Qianli, which intends to develop its business in mainland China.
Although it is the first English learning brand for children in Hong Kong, it should be certain that Meng Qi Qianli will enter the mainland in a large scale in the future if it wants to seek sustained and rapid growth in profits. However, there are many brands of children’s extracurricular learning online and online in the Mainland. In order to gain a foothold, the brand "Monkey Tree" will inevitably need to increase investment in advertising and marketing, which may put pressure on the company’s short-term net interest rate. In the absence of unique business characteristics in the learning center, there are doubts about whether the brand can successfully open the market. Riding the wind of the reform and upgrading of compulsory education, how should Meng Qi take the next road?
Disclaimer: The content is for reference only. Please make investment decisions carefully according to it.
Reporting/feedback

Network car new deal encounters "difficulty in landing" Expert advice: stimulate market vitality

  The drastic changes and interest pattern adjustment brought by the new economy are fully reflected in the field of online car rental. On the one hand, the platform and networking characteristics of the new economy expand the scope and depth of the impact of contradictions. On the other hand, the new policy of online car rental involves a wide range, and the interest game increases the difficulty of landing the new policy.

  The reporter of the Economic Information Daily learned that the Interim Measures for the Administration of Online Booking of Taxi Operating Services has been implemented for more than half a year, and the implementation rules of many local governments have not yet been issued. Some cities that have issued rules but have higher thresholds are facing "landing difficulties".

  Many people in the industry and experts suggest that we should be fully aware of the pulling effect of the sharing economy represented by the online car ride on social employment and the revolutionary role of the social management model, and suggest using the "subtraction" of power in exchange for the "multiplication" of market vitality.

  Some cities’ new policies about car network are "difficult to land"

  The reporter learned that as of April 24, 2017, 85 cities have issued detailed rules for the implementation of the network car, 115 cities have completed soliciting opinions, and more than 100 cities have not yet completed soliciting opinions.

  In some areas where the New Deal has been introduced, the policy landing still faces a game situation. The reporter learned that there are two main focuses of the game between policy requirements and platform interests: first, whether to implement household registration, vehicles, wheelbase and other requirements; The second is to what extent the operational data accessing the supervision platform needs to be reached and what content it contains.

  In the actual operation process, some cities have imposed many restrictions on drivers’ household registration and vehicle price wheelbase, taking into account the local taxi market capacity and the strategic needs of urban development. Some platforms have found that the implementation of the New Deal in cities with higher thresholds will reduce the network car capacity by more than 90%, which is a heavy blow to the platform.

  At the same time, the platform-based characteristics of the online car-sharing platform have broken the tradition of "the company is local" in the past. If the online car-sharing platform does not set up a local subsidiary, the local management department may not find a communication partner during supervision, which aggravates the difficulty of solving the problem.

  On the other hand, the new economy, represented by the online car-hailing platform, quickly seized market share through subsidies and financing, but this fast pace had a great impact on the balance pattern of the traditional taxi industry in a short time. At the same time, in some higher threshold areas, it has also caused a greater "crowding out effect" on the network car drivers. These factors have led to constant friction between cruise car drivers and network car drivers in some places.

  The new policy of network car has a wide range of influence groups. According to Didi’s travel statistics, as of February 2017, the total number of drivers registered on Didi platform reached more than 17.5 million. There are 2 million active drivers on Didi Platform, and the per capita daily income exceeds that of 160 yuan, while the total number of taxi drivers in cities across the country has reached 2 million. At the same time, there are thousands of software and algorithm engineer behind Didi.

  The parties have different reactions to the new policy of online car.

  The reporter learned that the situation of the New Deal landing across the country varies widely, and the views of all parties on the network car industry have also wavered.

  In some places, the implementation period of the New Deal has passed, but the non-compliant network car is still in operation. The driver of the cruise car doesn’t know whether to stay at his job, and the driver of the network car doesn’t know whether to change careers.

  According to the statistics of the Transportation Bureau of Beijing Municipal Commission of Communications, after the appearance of the network car, the income of cruise car drivers dropped from about 6,500 yuan in 2013 to about 4,500 yuan in the first half of 2016. From 2014 to 2016, the driver team lost nearly 10,000 people. However, taxi operation has improved recently.

  A Didi executive, who asked not to be named, said that after the introduction of the New Deal, Didi’s car business also experienced a sharp decline, and drivers were losing a lot.

  At the same time, passengers’ choice of online car has also wavered. According to reports, before the Spring Festival in 2017, the average number of taxi calls per day of passengers in some big cities soared from more than 300,000 to 900,000, and the response rate of taxis on the Didi platform was only 40%. In addition, after the New Deal gradually landed, the capacity of Didi Express bus decreased, and the response rate dropped from 90% in October 2016 to about 50% in March 2017, which greatly reduced the travel experience of passengers.

  The capital market has also begun to hesitate and "can’t figure out" the market prospect of the online car platform. Due to the impact of the New Deal on the market, the market valuation of many online car platform companies has declined, which has also affected the layout of enterprises at home and abroad. Some insiders said that the upsurge of domestic venture capital in sharing the economy such as online car rental has subsided.

  The New Deal is hard to reflect management anxiety.

  The Interim Measures for the Administration of Online Booking Taxi Management Service has been implemented for more than half a year, but the detailed rules for implementation in many places have not yet been promulgated.

  The demand for online car is different from place to place. Some places think that cities should give priority to the development of public transport, and the online car ride is only a supplement, and it should be more "high-end" than cruise taxis. Therefore, set a higher model, price, displacement and wheelbase threshold for the network car. There are also some places that hope that the network car will take into account the high, medium and low-end needs. For example, Haikou cancels the restrictions on the displacement of the network car, while Lijiang and Hanzhong choose to connect the cruise taxis to the network car platform as a whole.

  Wei Dong, CEO of the First Automobile Car Company, said that road traffic congestion in first-tier cities in China is serious, and it is reasonable for local management departments to choose to raise the threshold for online car booking. However, the taxi market in second-and third-tier cities is not saturated, so the policy of online car booking can be relaxed.

  As for whether the number of taxis should be controlled. A grassroots cadre said that the Ministry of Construction issued the Code for Planning and Design of Urban Road Traffic in 1995, which stipulated that the number of taxis in big cities should be 20 per 10,000 people and 15 in small and medium-sized cities, which became the standard for calculating and controlling the number of taxis in most cities.

  However, there are also views that this standard has not changed for many years, and the network car is not the main cause of road traffic congestion, and the quantity control should be released in due course. The Research Group of Professor Yan Xuedong of Beijing Jiaotong University released the Analysis Report on Beijing Road Traffic Operation Based on Didi Big Data in October 2016, which holds that the network car uses economic laws as a lever to adjust the supply and demand of the traffic market, and information symmetry as the core to match the demand, which helps to reduce the empty driving rate of vehicles.

  Interest game increases the difficulty of landing the New Deal. In many places, the development of online car rental has caused the price of taxi licenses to shrink, and some taxi drivers and agents who speculate on licenses have been seriously damaged. For example, in some cities, taxi licenses have increased from 200,000 yuan to 800,000 yuan in the past, and have been reduced to 400,000 yuan due to the competition of online car rental.

  Some people in the industry said that the formulation of the local version of the new network car deal faces multiple interests considerations. Before the reform of taxi industry, drivers had a license for life, which made them lack the motivation to improve their services. However, if the local taxi companies are accelerated to withdraw by means of license depreciation and redemption, these companies may find it difficult to accept.

  The law enforcement of the network car has also caused administrative reconsideration in various places. An executive of a car rental company in Nanjing said that private cars in Nanjing were converted into operating vehicles, and the passenger management office of the Transportation Bureau allowed it when accessing the platform, but the vehicle management office of the Public Security Bureau failed the annual inspection. It is difficult for many private cars to access the network car platform.

  An official of Kunshan Municipal Transportation Bureau said that some platforms openly resisted the law, not only encouraging vehicles punished in Kunshan to file administrative reconsideration, but also reimbursing fines. Some local transportation management departments frequently receive administrative reconsideration of the network car, and basically can’t do other things.

  Xu Kangming, an expert on taxi reform, believes that after the release of the local New Deal, measures should be taken to let illegal personnel and vehicles withdraw, otherwise it will destroy the fair market environment. On the one hand, cruise taxi companies can’t expand their scale, on the other hand, law-abiding online car companies will pay a great price.

  Caring for the "source of vitality" of the sharing economy

  Some interviewed experts believe that we should be fully aware of the pulling effect of the sharing economy represented by the online car ride on social employment and the revolutionary role of the social management model, and suggest using the "subtraction" of power in exchange for the "multiplication" of market vitality.

  In-depth research network car companies, scientific evaluation. The sharing economy, represented by the online car ride, poses a new challenge to the urban traffic management model. Behind the transformation of the kinetic energy of the old and new economies is the differentiation of the benefit groups of the old and new economies. The insiders believe that the beneficiary groups in the old economy are relatively concentrated and highly organized, but the beneficiary groups in the new economy are more extensive and their voices are more dispersed. Therefore, we should consider the affordability of the old economic benefit groups and the extensiveness of the new economic benefit groups in policy formulation.

  There is strong capital support behind the rise of platform economies such as Didi, Ali and Tencent, which has also benefited many people. Moreover, the credit economy, platformization and big data management may give birth to new technologies such as intelligent transportation, driverless driving and car networking, which are the trend of future economic and social development and the important support for the government to build new management functions, and should be treated with a more open mind.

  An executive of Didi said that although the "zombie car" of Didi Platform is not easy to manage, it indicates that the surplus capacity of social vehicles can be fully released when the urban capacity is tight. Cheng Wei, founder and CEO of Didi Chuxing, said that it is a great opportunity for China to transform its traditional industrial industries with Internet thinking if it wants to overtake western industrial powers in corners.

  On the one hand, formulate a relatively scientific withdrawal and compensation mechanism to alleviate the anxiety of social groups in transition. During the transition period of the New Deal, many full-time online car drivers may lose their jobs. It is suggested that relevant policy explanations and guidance should be carried out in a targeted manner to attract them to work part-time on platforms such as car rental companies.

  On the other hand, scientifically foresee the challenges that part-time taxis may bring. The sharing economy model may bring drivers a wider range of part-time jobs, which will increase the difficulty of management and may also impact the average income level of the taxi industry. Car rental companies can be encouraged to increase their own vehicles to cope with the ebb and flow of Internet supply, and monitor and evaluate the average income of the taxi industry, so as to scientifically guide the development of the industry.