Beijing, July 18 (Peng Ningling) Recently, a liposuction operation took away a 33-year-old young life, which once again pushed the safety of medical beauty and cosmetic surgery to the forefront.

　　Who is boosting the so-called appearance anxiety? Behind the geometric multiplication of medical and beauty disputes, when will the industry chaos stop?

　　Bulletin of Hangzhou Health and Health Commission on the preliminary investigation of medical accidents in Huayan Medical Beauty Hospital

　　Another tragedy: 33-year-old Hangzhou woman died of liposuction infection

　　Because a net post posted by a friend of "Xiao Ran", "online celebrity Xiao Ran died of liposuction infection" was posted on the Internet, which caused a lot of discussion.

　　According to the notification of Hangzhou Health and Health Commission on the 15th, on May 2nd, Dai Moumou went to Huayan Medical Beauty Hospital for liposuction and other medical beauty operations. After the operation, he developed septic shock, and was fully treated by Greentown Hospital and Zhejiang Second Hospital. Finally, he died on July 13th.

　　According to the report, according to the expert evaluation organized by Hangzhou Medical Association, this is a medical accident. Huayan Medical Beauty Hospital has some faults, such as lack of understanding before operation, improper operation during operation, and untimely observation and treatment after operation. There is a causal relationship with the patient’s death, and it bears full responsibility and has made compensation.

　　At the same time, the Xihu District Health and Health Bureau imposed warnings and fines on the hospitals involved, instructed them to suspend business for rectification, and further dealt with the responsible medical staff.

　　In recent years, with the pursuit of improving people’s image, the medical beauty industry has developed rapidly.

　　According to enterprise survey data, there are 9400 existing "medical beauty hospitals" in China. 2020 is the peak of registration, with 2324 new ones; In the first half of this year, 2,360 new ones were added, a year-on-year increase of 177.2%.

　　China refereeing documents online, searching for "medical beauty", showed nearly 18,000 documents. Since 2014, related disputes have increased by a large margin.

　　The pursuit of beauty may be accompanied by risks. Searching for the keyword "medical beauty" on the referee document network, from 2005 to now, nearly 18,000 documents have appeared, including nearly 1,300 personal injury compensation.

　　In terms of growth, the number of dispute documents reached 507 in 2014, and it has been growing rapidly since then. By 2020, it has reached more than 5,800.

　　As for liposuction, the first case on the Internet of judgment documents appeared in 2005. In addition, it is reported that in March 2003, Yao Yun, a 27-year-old white-collar worker in Harbin, underwent liposuction in a hospital and died 18 hours later. Some media also said that this was the first lawsuit in China that caused death due to liposuction.

　　Since then, until now, there have been more than 480 disputes about liposuction on the Internet, which is on the rise year by year.

　　In March of this year, a 34-year-old woman in Hainan tried to suck out thigh fat and fill her face, but unfortunately she fell on the operating table. Also in March, in a case notified by the Health Bureau of Jianggan District, Hangzhou, a woman underwent "waist and abdomen ring suction+gold micro-carving" surgery in a medical institution, and was under general anesthesia. She lost consciousness and stopped breathing 1.5 hours after operation.

　　"Miss the best treatment time"

　　After the "online celebrity Xiaoran" accident, some infectious diseases doctors thought that this should be caused by bacteremia caused by the pollution of medical devices. After bacteremia, patients often have multiple organ metastatic infections, and the symptoms are more acute, so they should be treated immediately for infected bacteria.

　　Xie Fang, deputy chief physician of Plastic Surgery Hospital of China Academy of Medical Sciences, told Zhongxin.com that generally speaking, the incidence of infection caused by liposuction alone is low. In addition to liposuction, Hangzhou also made autologous fat to fill the chest.

　　According to experts’ analysis, autologous fat sucked from the body generally needs to be separated and purified in vitro before it can be used for filling. In the process of in vitro treatment of autologous fat, the aseptic environment of operating room is very demanding, and the aseptic operation principles of all medical workers involved in the operation are also very demanding. Problems in any link may cause risks.

　　On 16th, Tang Liang, a doctor of medical cosmetology in the First People’s Hospital of Hangzhou affiliated to Zhejiang University School of Medicine, wrote in Weibo that "necrotizing fasciitis" was mentioned in the special investigation of this incident by Hangzhou Health and Health Commission on 14th July.

　　Previously, the popular science about "necrotizing fasciitis" was also hot searched.

　　Dr Zeng, certified by Weibo as a general surgeon in Beijing Chaoyang Hospital affiliated to Capital Medical University, said: Necrotizing fasciitis is a very dangerous disease. Deep soft tissue infection, involving muscle fascia, can spread rapidly along the fascia. The principle of treatment is early detection, early operation and early antibiotic treatment.

　　According to previous media reports, from the operation on the evening of May 2 to 5: 00 am on May 4, Xiao Ran kept crying with symptoms such as shortness of breath and palpitations, but these symptoms did not attract the attention of medical staff, only giving Xiao Ran oral and anal analgesics, during which Xiao Ran was once in pain and went into shock. It was Xiao Ran who called 120 for an ambulance and was sent to Hangzhou Greentown Cardiovascular Hospital.

　　Later, the ICU doctor called and said that Xiao Ran had missed the best treatment time because she was not sent to the hospital in time.

　　"If it is in a large public hospital, because the ICU is generally next to the operating room, it will deal with the problem in a relatively timely manner, and there may be different results."

　　In an interview with Zhongxin. com, Tang Liang said that in reality, when private institutions do handle accidents, apart from the distance, they will also weigh whether the consumers have reached the severity of being sent to ICU and whether it will affect the institutions. "If you encounter a doctor with a lack of knowledge system, the evaluation will be wrong, which will lead to irreversible results."

　　Tang Liang believes that liposuction is not an operation with extremely high complication rate or mortality rate, and it is relatively safe to operate reasonably within a reasonable range. In reality, some doctors think that patients are still awake, and there may be luck. In addition, it depends on how the hospitals involved stipulate that doctors sometimes can’t "have the final say".

　　In addition to necrotizing fasciitis, doctors also said that fat embolism is also one of the most serious complications in liposuction.

　　"When fat is destroyed in the process of absorption, it enters the blood and then embolizes other parts with the blood flow, such as pulmonary embolism, which will lead to death." Tang Liang said that this is a small probability event, but once it happens, it will be difficult to reverse it.

　　Liposuction advertisement on medical beauty app.

　　The more fat, the better?

　　When it comes to liposuction, people always seem to be directly equivalent to losing weight. Photos of slim girls are posted in front of some medical beauty institutions as publicity, and the cover publicity of many medical beauty apps also shows "cartoon legs" and "thin body", which seems to imply that people can achieve their dream figure by doing liposuction surgery.

　　"Liposuction is not equal to losing weight at all, but local shaping." Xie Fang introduced to Zhongxin.com that the commonly used negative pressure liposuction is to use negative pressure to suck fat out of the body. "Fat density is very low, even if you suck thousands of milliliters, you can only lose a little weight. But after liposuction, the partial body shape can really make people look slim. "

　　Zhongxin. com has consulted liposuction in many medical and beauty institutions in Beijing. Some consultants said that consumers with a height of 160cm and a weight of 50kg can suck 3000ml of thigh fat at a time, and some people with fatter bodies can suck 6000ml or more at a time.

　　According to the Catalogue of Classified Management of Medical Beauty Projects issued by the former General Office of the Ministry of Health in 2009, the cosmetic surgery projects are divided into four levels according to the difficulty and complexity of the operation and the possible medical accidents and risks.

　　Among them, liposuction less than 1000ml belongs to primary surgery, liposuction between 1000 ml and 2000 ml belongs to secondary surgery, and liposuction between 2000 ml and 5000 ml belongs to tertiary surgery. The operation process of tertiary surgery is complicated, with great technical difficulty and risk.

　　"In theory, one-time liposuction should not exceed 5000ml." Xie Fang said that sucking too much fat may lead to acid-base balance, electrolyte disorder, hypothermia and hemoglobin reduction. Therefore, liposuction must be combined with its own situation and follow the principle of moderation.

　　However, Tang Liang mentioned that the highest standard of 5000ml is a guiding standard, not an absolute standard. Everyone’s physical condition is different, and people who are too obese are not absolutely unsafe if they exceed 5000ml.

　　Tang Liang also said that in reality, many doctors will flaunt their maximum liposuction amount, and customers will fall into the thinking of "dosage measurement".

　　In the consultation he received, more than 50% of the consultants would ask for fat absorption, and few people simply asked for bodybuilding lines or shaping beautiful muscle contours. When informed of the scientific liposuction amount, some rational customers will listen to suggestions, but some people turn around and leave and choose doctors who can accept their own liposuction amount.

　　"The most important thing about liposuction is not how much you suck, but ‘ How much is left ’ 。” Tang Liang said, "How much sebum thickness is left to ensure that the skin is not necrotic? This is the most critical factor to avoid complications. "

　　In Tang Liang’s view, proper shaping is not wrong, but "extreme requirements" may challenge the limits of medical treatment and lead to irreversible consequences. This requirement may be caused by the aesthetic deformity of society, and at the same time, it is also pushing the institutions to compete crazily in the opposite direction. I’ll go to whoever can smoke more.

　　Fuzzy risk warning

　　It is worth mentioning that liposuction has many contraindications. However, in the interview, Zhongxin.com found that some institutions will not take the initiative to inform relevant matters, and even dilute the corresponding risks.

　　For example, some consumers have anemia themselves, and the consultants did not take the initiative to ask in advance. After learning, they only told the consumers that they could undergo surgery with a little adjustment.

　　"Anemia is absolutely impossible to do liposuction surgery." Xie Fang said that there will be a certain amount of bleeding in the process of liposuction, and there are indicators for the normal range of hemoglobin in medicine. If the normal range is not met, surgery is absolutely not allowed.

　　Xie Fang introduced that in the preoperative conversation, patients should be asked about their abnormal physical condition, and at the same time, various preoperative examinations should be done.

　　For patients with chronic diseases such as cardiovascular diseases, digestive and respiratory systems; The onset of chronic infectious diseases; Women who need to be pregnant in a short time or during pregnancy; Menstrual female population; And people with poor coagulation function; People who have been taking hormones or anticoagulants for a long time should not have liposuction. In addition, liposuction is not recommended for teenagers whose physical development is not mature.

　　In the process of liposuction, except for liposuction on small parts of upper arm and face, liposuction on waist and abdomen, liposuction on thigh and other large areas are generally carried out under general anesthesia or local anesthesia plus sedation. Therefore, preoperative examination should include a complete set of preoperative blood (blood routine+infection+biochemistry+coagulation+immunity), chest CT, urine routine and ECG examination.

　　Beyond the operational level, after the accident, appearance anxiety has also become a discussion point for everyone. Many netizens questioned: Why do you need liposuction when you are so beautiful and so thin? Stop exaggerating your appearance anxiety!

　　Is this facial anxiety? Weibo certified "Pink Bear" as the director of new media operation of Shanghai Pink Bear Network Technology Co., Ltd. is a big V with 1.56 million fans. In her Weibo, there are many submissions about cosmetic consultation and experience sharing every day: double eyelid cutting, liposuction, rhinoplasty … …

　　Five years ago, "Pink Bear" once said in Weibo: It has always been my idea to convey the direction to regular hospitals and guide the aesthetic values of nature.

　　After the accident, she told Zhongxin.com that there is nothing wrong with choosing cosmetic surgery to become more beautiful. There is a risk probability in medical care itself. What we should do is to guide everyone how to choose institutions and doctors correctly, and there is no need to create panic with facial anxiety.

　　At the same time, "Pink Bear" also mentioned the concern, "When all kinds of capital are involved and non-medical beauty fields ‘ Daren ’ Guiding the market and forming a fast-disappearing medical beauty, with the new model of "Red Man’s Medical Beauty", traffic performance is paramount, and some low-cost and inexperienced doctors are used to build and package them, which will also bury hidden dangers for the final problems. On the contrary, the market share of traditional brand institutions and doctors who are really accumulating word of mouth and strength is being squeezed. "

　　According to statistics, medical beauty services are within the scope of consumers’ centralized complaints in the first half of 2021 recently released by Zhejiang Consumer Protection Committee.

　　The data shows that in the first half of 2021, Zhejiang Consumer Protection Committee accepted a total of 363 complaints about beauty services, and the problems reflected in the complaints included false propaganda by institutions, failure to achieve the expected results, and induced loan beauty.

　　Previously, the investigation by Zhejiang Consumer Protection Committee found that the actual controller of the enterprise was the same person in many places in Zhejiang, and the company was frequently registered and cancelled. At the same time, such companies use short video platforms, post-it forums and other channels to publish false advertisements, exaggerate the beauty effect, share false personal experiences, and the goods and services actually provided are inconsistent with the publicity promises, which seriously damages consumers’ rights and interests.

　　Professional doctors have repeatedly suggested that liposuction must choose a regular big hospital, and the indications and contraindications should be fully understood before doing it.

　　For doctors, liposuction should not be done on a large scale or over a large area in one operation. Even if the patient needs it, it should be performed in several times or in multiple parts as appropriate.

　　"Just like this incident, if so many parts were not pumped, even if there were focal necrosis or infection in some parts, it would not lead to such serious results according to the modern medical level." Tang Liang said.

First, the examination time and schedule

The eighth grade geography and biology exam is scheduled for June 17th, and the senior high school entrance examination culture exam is scheduled for June 18th-20th. The specific exam schedule is as follows:

The total score of the senior high school entrance examination is 780: 140 for Chinese, 140 for mathematics, 140 for English (including 30 for oral listening), 140 for physics and chemistry, 100 for morality and rule of law and history, 80 for geography and biology, and 40 for physical education.

The results of the senior high school entrance examination are expected to be announced on July 3, and the scores and total scores of candidates in each subject are accurate to 0.5 points. Admission will be made in batches from July 4, and the investment lines of each batch and each stage will be announced one after another.

Two, the urban voluntary reporting batch settings and requirements

1. Volunteer to fill in batch settings

The first batch: four-star high schools, ordinary high schools, secondary vocational schools-undergraduate "3+4" training majors, higher vocational schools-undergraduate "5+2" training majors, and normal colleges and universities.

The first small batch: special students from four-star high schools and other schools can fill in one volunteer;

The second small batch: four-star high schools and ordinary high schools that have been approved to enroll students in four-star high schools in batches can fill in three volunteers, and Volunteer A is also the volunteer of the candidates;

The third small batch: "3+4" sectional training major for secondary vocational colleges and "5+2" sectional training major for higher vocational colleges and universities, and three parallel volunteer can be reported;

The 4th small batch: Normal majors in normal universities can fill in 4 parallel volunteer.

The second batch: other ordinary high schools, comprehensive high school classes, vocational college entrance examination classes in secondary vocational schools and high-skilled talents classes.

The first small batch: other ordinary high school special students can fill in one volunteer;

The second small batch: other ordinary high schools, comprehensive high school classes, vocational education college entrance examination classes and high-skilled talents classes in secondary vocational schools can fill in 6 parallel volunteer.

The third batch: "3+3" training for five-year higher vocational schools and secondary vocational schools-higher vocational schools.

The first small batch: five-year technician classes in higher vocational and technical schools, which can fill in five "school professional groups" parallel volunteer;

The second small batch: "3+3" training for professional and technical school senior workers in secondary vocational-higher vocational schools, and five "school professional groups" parallel volunteer can be filled in;

The third small batch: intermediate workers in secondary specialized schools and technical schools, who can fill in five "school professional groups" parallel volunteer.

See the volunteer sample table for the volunteer settings of each batch.

2. Volunteer reporting time and requirements

Candidates’ volunteering is divided into two stages:

In the first stage, the first batch and the second batch of enrollment school volunteers are reported. The reporting time is from 9: 00 am on June 6 to 12: 00 noon on June 12. Candidates print the volunteer information confirmation form at the registration school and sign it to confirm their volunteers.

In the second stage, fill in the third batch of enrollment school volunteers, and fill in the volunteers for candidates who have not been admitted. The filling time is from July 12 th to 13 th. After the candidates fill in and submit online with the "password card", the volunteers will take effect, and no signature confirmation will be made. Candidates who fill in the first batch of volunteers in this batch but are not admitted can fill in the first batch of volunteers online on July 17; Candidates who fill in the second batch of volunteers in this batch but are not admitted can fill in the second batch of volunteers online on July 21; Candidates who fill in the third batch of volunteers in this batch but have not been admitted can go to secondary vocational schools and technical schools with surplus plans to fill in and solicit volunteers on the spot from July 26th to July 30th. Please refer to the candidate’s "password card" for the specific reporting time.

Candidates are required to fill in their volunteers online with a "password card" within the specified time. Candidates and guardians should take good care of the candidates’ password cards, and may not provide anyone with the passwords of the password cards. The candidates themselves and their guardians shall bear the consequences caused by the loss of dynamic password cards or the disclosure of encrypted passwords.

All schools should ensure the autonomy of candidates to fill in their volunteers. No school or individual may interfere with candidates’ self-filling, and may not force candidates to apply for designated schools against their wishes. Due to external interference, candidates and their guardians can submit a written application to the Municipal Education Examinations Institute with their ID cards or household registration books before the deadline for volunteering. After verification, they can fill in and confirm their volunteers in the Municipal Education Examinations Institute. At the same time, candidates should also carefully choose and fill in their volunteers. Candidates who meet the admission requirements of the school after filing and have been admitted are not allowed to ask for withdrawal and are not allowed to be admitted to other schools.

Third, related questions and answers

1. How to determine the proportion of the pilot program?

The index student plan of ordinary high schools in urban areas accounts for 70% of the total enrollment plan of our school, and the special student plan and unified enrollment plan account for 30%. After the admission of special students, the remaining special students’ plans will be converted into unified enrollment plans. For the candidates assigned to the index, 45 points will be added when investing in the volunteer school of the index students.

2. How to file and enroll ordinary senior high schools in urban areas?

(1) The admission of four-star high schools in the first batch and the second small batch of enrollment schools is divided into three steps:

The first step is to enroll 50% of the unified enrollment plan of each "ordinary high school with an indicator student plan" (referred to as "A volunteer unified enrollment") from all candidates who voluntarily apply for the exam in A according to the candidates’ scores from high to low, and determine the "A volunteer filing line" of "ordinary high school with an indicator student plan".

The second step is to determine the list of candidates who enjoy the treatment of indicator students in each school from high score to low score according to the number of indicator students’ plans allocated by each junior high school under the "A Volunteer Investment Line", and add 45 points to the scores of these candidates as the scores when enrolling indicator students’ volunteers (B and C volunteers are not added).

Step 3: All the candidates who fill in the volunteers of this batch of schools and are not admitted will be enrolled according to the principle of "giving priority to scores and following volunteers" in parallel volunteer, and will be enrolled according to the enrollment plan of 1: 1, so as to generate the parallel volunteer enrollment line of each school.

Candidates with an aesthetic education evaluation score of C or above, qualified physical and chemical experiments and a comprehensive quality evaluation of B or above can be admitted to a four-star high school.

(2) The admission method of other ordinary high schools is to file and enroll students at the minimum admission control line of ordinary high schools according to the principle of "giving priority to scores and following volunteers" in parallel volunteer according to the enrollment plan of 1: 1. Candidates who pass the physical and chemical experiments can be admitted to ordinary high schools with three stars or above.

3. How to recruit students for "3+4" training majors in secondary vocational schools, "5+2" training majors in higher vocational schools and normal colleges?

Secondary vocational-undergraduate "3+4", higher vocational-undergraduate "5+2" and teachers’ majors in normal colleges are ranked as "majors". Candidates with the same scores are ranked according to the total scores of Chinese, Mathematics and English (including oral listening), Chinese scores and mathematics scores from high to low. Candidates who apply for teachers’ majors in normal universities must participate in the interview and professional additional examination organized by the enrollment school.

4. What is the "school professional group"? How to volunteer to fill in, file and enroll in the "school professional group" as a unit?

"School Professional Groups" are a number of "professional groups" independently set up by the enrollment school according to the school’s professional admission requirements and professional training direction. A school can set up one or more "professional groups", and each "professional group" can contain a different number of majors.

When volunteering, candidates can fill in multiple "school professional groups" (that is, candidates can fill in multiple professional groups in the same school or different professional groups in different schools). Each professional group can fill in 2 professional volunteers and whether they obey other majors in the professional group.

At the time of admission, the Municipal Education Examinations Institute takes the "school professional group" as the unit to file, and after the file is filed, the score line of each "school professional group" is generated, and the enrollment school determines the student’s admission major within the professional group. When the students’ professional volunteers cannot be satisfied, if the candidates fill in "obeying other majors in the professional group", the professional adjustment will be carried out in the professional group.

This year, our city will continue to use the unified admission platform of the whole city and strictly implement the relevant provisions of the state, province and city on education examination and enrollment management. Candidates who meet the admission requirements of the school after filing and have been admitted are not allowed to ask for withdrawal and are not allowed to be admitted to other schools. Schools that have completed the plan in the centralized admission stage will no longer arrange supplementary admission.

Original title: "Interpretation of policies related to enrollment in the 2024 senior high school entrance examination"

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Oil prices are rising and wallets are shrinking step by step! As a person who needs to drive frequently for business, it’s really unbearable. I’ve been thinking about replacing the old oil truck that has been driving at home for many years with a tram. So, since June this year, I have been crazy about watching cars. I have seen all the cars, such as Weilai ES7, Tesla Model Y, Extreme Krypton 001, Li ONE, and Question M7…… … but I couldn’t make up my mind which to buy until I found the treasure of Aouita in the mall when I was shopping with my wife. At that time, it was very exciting and my wife liked it.

Of course, as a person who lives carefully, how can he pay for the order after a few words? So when I got home, I went through official website and looked at the online reviews of major platforms. After comprehensive information from all parties, I found that this car is really good. There is a full set of Huawei HI, the battery is made in Contemporary Amperex Technology Co., Limited, and the manufacturing is controlled by Changan Automobile. The cars built by "Mobile" groups in various fields are definitely not bad. This really means buying. But after all, Aouita is a new brand, so I still want to wait and see how the order is, and then make a decision.

Recently, I finally saw the official news of the number of lock orders released by Aouita: the first batch of 5000 lock orders in ten days, with an average price of 40w. It’s not easy for the first product of a brand new brand! Now, my heart is numbered. Place an order and follow the formation of friends on the bus!

Of course, I also saw someone on the Internet say that it’s not awesome to have only 5,000 sets for such a long time! Not to mention, this data is really awesome. You know, there are about 20 new energy vehicles with more than 350,000 vehicles in China. From January to October this year, Li ONE, the best seller, sold almost 8,000 vehicles in a single month, and Weilai ES6, the second place, sold almost 4,000 vehicles, basically less than 2,000 vehicles in the back.

And Aouita 11, a car that most people haven’t experienced yet, and the intelligent driving function and cockpit function haven’t been put on the line, can have this achievement, which is completely above the level and beyond my expectation (I think I will buy it if it is around 2000). And this can’t be separated from the great discount given by Aouita 11. AVATRANS intelligent navigation system, Huawei DriveONE dual-motor four-wheel drive system and Contemporary Amperex Technology Co., Limited ternary lithium battery are standard in the whole department. For the first batch of lock-up car owners, Aouita Science and Technology also sent lifelong intelligent driving upgrade service package, personalized matching fund worth 12,000 yuan and other rights and interests, which is very cost-effective!

In addition, I’d like to tell you a piece of good news. At present, Aouita has confirmed to enter Huawei’s flagship stores in Beijing and Shenzhen. Friends who need to buy trams can go to the field to experience it, but they want to start early, and when the exposure of Aouita 11 comes up (Huawei’s flagship store is still very strong in drainage capacity. Huawei’s first global direct flagship store opened in Vientiane World, Shenzhen, has a crowd of 20,000+on the first day of opening, and its sales on the first day exceeded 4 million without trial operation).

This 2014 3.0T standard version, known as "Little President", has an official guide price of only 975,000 RMB, which is the most intimate choice among the models currently on sale. The price of the second-hand car market has also remained in a relatively moderate range of 600,000-650,000.

Of course, Maserati’s SUV camp also has many price competitors. Levante 2018 350Hp Essence Classic Edition, although the official guide price is only 868,800, the price of the high-end version can be as high as 1.5 million, which shows that the different configurations of the same model are significantly different.

However, when it comes to the truly anticipated "cheapest Maserati", the news in May this year may break the routine. It is said that Maserati Kubang, an SUV rookie with an estimated price of around 450,000, will challenge the existing price system and become the most affordable choice for the Maserati family. This news is undoubtedly an exciting signal for those car enthusiasts, which means that more people have the opportunity to get in touch with the charm of this luxury brand.

Although the top luxury of MC12 is beyond our reach, Maserati’s entry-level models are quietly closing the gap with consumers. Imagine that you can own a part of this Italian brand in just 450,000 cases, which is undoubtedly a unique experience of luxury life. Let’s look forward to the release of this new model and see how it occupies a place in Maserati’s family pedigree.

First, wonderful views

1. Cognition of varieties is the core factor of making money.

2. In investment transactions, we are not so much trading our own ideas as human nature.

3. Choosing a stop loss doesn’t mean completely giving up trading on that variety, but waiting patiently for the next better trading opportunity. This is my secret.

4. Risk control is always the focus in the transaction process, and controlling capital risk is always on the road.

5. Any variety will have a ceiling of price and a cost line.

6. When stopping loss, we should not only look at the range of market fluctuation, but also pay attention to the market sentiment.

7. Adding positions after floating profits is a big taboo in futures investment.

8. Wealth is the realization of cognition, and futures investment is actually the money to earn personal cognition.

9. Traders must make friends with data, establish their own database, and focus on inventory through the database.

10. The withdrawal of funds is a process that investors will inevitably experience in their growth, and it is an inevitable price to pay.

11. Futures trading is the human nature of investors, so the result of futures trading is actually the embodiment of human nature.. Only by constantly training and improving themselves can investors become more and more mature.

12. Positions reflect investors’ greed and fear of the market. When you are greedy enough, you will often add a lot of positions, and many mistakes will occur during this period.

Second, the introduction of Pan Wang

"Datian Aaron", a contestant in the National Futures Firm Competition of Big Handnet, was born in 1982, and is now 39 years old, from Shanghai.

After graduating from college, I worked as a project manager in an IT company in Shanghai. After resigning in 2014, I started to invest full-time, and I started to do futures in 2017. Amateurs like playing football. Good at trading based on fundamentals, expert in futures investment.

Third, performance analysis

As of August 16, 2022,Pan Wang’s accumulated net profit in Xiaotian Aaron, an entry account of Dapan Handnet, was more than 20.51 million yuan, accumulated profit was more than 22.79 million yuan, Sharp ratio was 2.72, and accumulated yield was 62.17%.

Pan Wang’s current entry account is "Datian Aaron". Since April 21, 2022, within 80 days of trading, the cumulative yield is 84.97%, the cumulative net profit is 5.19 million yuan, and the maximum withdrawal is 38.26%.

The transaction analysis artifact of "Seven-tailed Fox" in the large-scale mobile network analyzes the entry account of Pan Wang as follows:

Pan Wang is almost a full-variety transaction.It belongs to the style type of partial intraday trading based on fundamentals.

Panwang trades more in apples, palm oil and other varieties, accounting for nearly 25% of the positions. On April 29, 2022, the highest position reached 94.81%, and the lowest position rate was 48.61% on May 9.

Panwang’s profits in iron ore, apples, palm oil and thread all exceed 1 million yuan.It is profitable in black varieties such as coking coal and hot coil.

Fourth, the interview record

01

IT paves the way and lays a good foundation for your career

I have been doing futures for about 4 to 5 years. Before that, I was doing stocks. I participated in the futures competition of the big hand net for about two years. My previous account was "Xiaotian Aaron", but now I have changed my account to "Datian Aaron".

Before professional investment, I worked in an IT company. At that time, my main job was to manage projects.

From a professional point of view, my previous work experience did not help me much in my later investment work, mainly because my attributes were completely different and had no relevance, but it was actually helpful in a deeper level.

When managing the project, I considered it more and comprehensively, which laid a foundation for the cultivation of trading personality characteristics such as logical thinking, endurance, execution, endurance and mentality required by my later investment work.It is helpful in this respect.

02

At the beginning of the investment, there was a stumbling block to retreat.

When I started my amateur investment, I was always doing stocks.

In 2017, I began to contact futures, among which there was a leader. With his guidance and help, I slowly began to learn to do futures and have a better understanding of how to make good investments. Therefore, compared with ordinary futures investors, I may have taken fewer detours, which is a very lucky thing.

I have always used subjective trading based on fundamentals in futures, and I have never been exposed to programming.

In the early days of full-time futures trading, the biggest difficulty I encountered was the relatively large withdrawal of account funds.

The fund management method of investing in stocks is different from that of futures. When investing in stocks, it is basically Man Cang. Now it seems that compared with futures, the fluctuation of stocks is actually relatively small.

When I started to do futures, I had no experience in fund management, and my position was always heavy, so I often encountered a relatively large withdrawal of funds. Especially in the first two or three years, the withdrawal of funds was relatively large, almost more than 50% every year.

During that time, I always lost, won, rose and fell, and my account was often a roller coaster, and I didn’t do well.

It was not until the last two years that I slowly controlled the retreat, broke through the bottleneck and embarked on the road of steady profit.

To solve this biggest difficulty at the beginning, I mainly adopted the following methods:

First, strengthen research and strive to make it thorough.When I first started to do futures, I was actually an out-and-out novice. I didn’t know anything about varieties, almost completely, so I paid a lot of tuition for the first two years.

But in the past two years, with the gradual deepening of research work, I have become more and more familiar with the fundamentals of the varieties I trade, so I have become more and more confident.

The second is to control your own trading frequency.

If you are in full bloom, butterflies will come; If you are well, it will be sunny.

It is because I am more and more familiar with it that I make fewer and fewer mistakes when placing orders.

Therefore,Doing research well is the basis of fundamental traders.

The third is to strengthen fund management. The amount of money I invested in a single variety has gradually shrunk.There was no concept of fund management at the beginning, and now my position in a single variety is basically not higher than 30%, usually about 10% to 20%.

These changes made me control the retreat.

03

Strong knowledge of successful trading control risk

I think: the core of trading is to thoroughly understand the fundamentals, because we are not programmed trading, and we rely on the degree of cognition of a certain variety when trading.

In the past, my commodity futures trading was mainly apple, and then it gradually developed into other varieties. In fact, the methods are the same, and all transactions are based on their own research and understanding of varieties, in other words, cognition.Good cognition is the core factor of making money.

I am a subjective investor who focuses on fundamental trading. At the beginning of investment, I had both experience and lessons in variety selection, opening and closing positions, stop loss and take profit.

When I started trading futures full-time in 2017, the variety that traded more was Apple. Mainly because in 2017, Apple suffered a serious "cold spring", which led to a sharp rise in prices in 2018.

It was based on this fundamental factor that I chose to trade Apple at that time and earned my first bucket of gold in investing in futures.

Investors are essentially trading their own cognition and personality, and they also need luck.

"Success is Xiao He, and failure is me". After making money on trading apples, on the one hand, I managed my position badly; On the other hand, due to my lack of trading experience, I soon returned most of my profits to the market.

At that time, I didn’t have any knowledge about where the price of Apple might go up. I naively thought that it could go up all the time, and then I encountered a big retreat.

Therefore, the first trading experience of Apple had both the joy of success and the frustration of failure, but in any case, it brought me valuable experience through that trading process.

Since then, when I choose a certain trading product, I usually base it on whether I understand it or not. Only in this way will I start investing. Whether it is apple or other varieties later, I will open the warehouse only after I have studied it clearly.

Although the research before the transaction was well prepared and considered to be very certain, I would choose to stop if the fact that it showed in the market at that time made me lose money or was different from what I expected.

Now, I am very disgusted with making the loss bigger, which is absolutely unacceptable to me. It is normal to admit mistakes.

Choosing a stop loss doesn’t mean giving up trading on that variety completely, but waiting patiently for the next better and more certain trading opportunity. This is my secret.

My trading system, in fact, is not much technical. You can keep the list of making money; For the list of losing money, the stop loss will be firm. For example, if the capital loses 10% or 15%, then we will unconditionally cut positions.

Risk control is always the key point in the transaction process, and controlling the risk of funds is always on the road.

04

Take profit and stop loss, carefully judge the market.

The profit-taking method I adopted in the transaction is mainly based on the following aspects:

One is based on the understanding and familiarity of varieties.

For a variety like apple, first of all, 5 yuan a catty is a very high price; Secondly, it has a fixed fee brought by the delivery rules. For example, when the market price of crude oil exceeds $120, the general duration will not be too long.

Unfortunately, in 2018, I didn’t understand this at all.

Any variety will have a ceiling of price up (or high price will curb consumption) and a cost line down, which are two very important trading factors.

The second is based on the understanding of the historical price of a variety.If the market price of a certain variety reaches or approaches a historical high and the price deviates seriously, then we should also choose to take profit;

The third is based on the judgment of fundamentals.If the fundamentals of the market change, we will also take profit.

Since we buy with reference to fundamental factors before trading, we must track the fundamental changes in the market every day. When there is a fundamental change in fundamentals, then we will also take profit and leave.

There are similarities and differences between fundamental trading and technical trading.As long as the conditions change, then the transaction must change.In technical trading, we often buy and sell according to the situation of big yin or big yang; If you use fundamental trading, this is probably the same reason.

When stopping losses, we should not only pay attention to our own stop loss points, but also pay attention to the market sentiment.In trading, sometimes you can obviously feel that the market sentiment is not quite right or not quite what you imagined. If this happens, you can stop the loss earlier.

Sometimes, if you think it is possible that the market has made a temporary mistake, then the stop loss range can be slightly enlarged. Of course, this should be judged according to your own experience and trading feeling, provided that you have a thorough study of the fundamentals before you can enlarge or narrow the stop loss range.

As a trader, it is necessary to accumulate knowledge of fundamentals and trading ability. Otherwise, it is just a waste of time to do it year after year, and I have not grown up.

05

A big taboo for floating profit and jiacang futures investment

When I first made futures, I had a bad habit, that is, I liked to add positions after floating profits. Because your risk awareness is not strong enough, if you often add positions after floating profits, then a small fluctuation will destroy the profits you have accumulated for a long time.

I think:Adding positions after floating profits is a big taboo for futures investment.

On the one hand, when you plan the number of open positions, you should try to abide by it and not change it.

Now I have achieved that I will not add positions after floating profits, which also avoids the differentiation of mentality caused by fluctuations.

Fundamentals sometimes do lag. For example, when the market price of a variety fluctuates greatly, we sometimes have no way to know what happened in the first place. At this point, I will make some changes according to the market, so there will inevitably be some intraday trading.

When I feel that the trend is not quite right, or when the disk gives me a bad feeling, I will do some transactions, sometimes this is a helpless move to deal with risks.

Therefore, taking profit and stopping loss does not mean that the price must fall on the set ceiling or floor. When there are some fluctuations beyond your cognition in the market, you should also be vigilant. This is an experience.

Some programmed investors, they think that floating profits and adding positions is a better method, which has something to do with their trading types. While they are making floating profits and adding positions, I believe that they will inevitably match the corresponding stop loss bars, and the transactions are all matched.

We can’t just see the beginning of their transaction and not the end of their transaction.Any kind of transaction, whether fundamental or procedural, has a head-to-tail match.

We can’t "blind the eyes with one leaf, but we can’t see Mount Tai", just look at the surface and ignore the inside; It still depends on the integrity, systematicness and consistency of a strategy.

06

The Soul of Fundamental Research of Data Analysis

I have some experience in fundamental research, which can be used as a reference for investors who do fundamental research in the market.

Over the past five years, I have spent a lot of energy on data statistics. For example, Apple, including Zhuo Chuang’s data, analysts’ daily opinions, etc., we will pay attention to and carefully study and check. We track the inventory and delivery speed every week.

For example, if we want to make black varieties, then we must know the data of steel joint, steel valley and steel search.

At the same time, I will set up my own database and do their own data over the years, so as to make some comparisons and predictions for myself.

As long as you do more data, you will have a deeper understanding of a variety and an industry, and this understanding is our future wealth.

Wealth is the realization of cognition, and futures investment is actually making money from personal cognition.Maybe programmed trading may be different, but I think fundamental traders mainly rely on making cognitive money.

The best way to improve personal cognition is to study hard. When one’s knowledge accumulates to a certain extent, one can naturally discover real logic. As long as an investor’s cognition is improved to a certain extent, the investment efficiency will be improved.

I suggest you:Traders must make friends with data, establish their own database, and focus on factors such as output and inventory.

Investors should not only pay attention to the yield, inventory and consumption of varieties, but also learn to make charts themselves. The key is to improve their ability to analyze and find contradictions.

Although the data we need is cold on the surface, there are some opportunities for undercurrent; Investors need to spend time to analyze data, love data, build emotions with data, and find opportunities in love.

The data of some varieties over the years often imply certain laws or contradictions, and we need to catch it out.

Pay attention to the fundamentals, in addition to the above methods, you can usually participate in some research.

When I first made futures, I participated in the investigation of apples, glass, soda ash and sugar.

In those two years, I ran a lot and did a lot of research. However, I gradually realized that the research actually didn’t work very well. Because in that process, on the one hand, you can’t see a lot of things; On the other hand, many enterprises or industrial farmers, if you ask them something, people will actually take some subjective views.

Therefore, I think it is more objective to pay attention to the effect of the database. As long as you learn to analyze data, you can know what’s going on in the world without going out. So from the last two years, I basically stopped participating in the research, mainly doing data analysis and thinking for myself.

07

Facing the information science, identifying and grasping contradictions

No matter the stock market or the futures market, it is an effective market. In other words, when you see some information, the disk may have explained the changes brought about by this information.

If you only deal with this information every day, it will have little effect on the transaction, but it will make you indecisive because of the interweaving of information in the news every day.

In the market, most of the news is noise. As a fundamental player, you must remember that you can only trade any variety after seeing the biggest contradiction in fundamentals.

A while ago, I decided to invest in rebar trading, mainly because the market supply exceeds demand, while the demand is really sluggish, and there is a huge contradiction between supply and demand.

When an investor grasps the biggest contradiction in the market, he can and needs to see a lot of information in the market, but he must have the ability to distinguish, and don’t let the daily information change affect his trading decision.

If there is an inflection point in the market price and the fundamentals have indeed changed, then it is important to test a fundamental trader.

Investors should have the ability to grasp the detailed changes in fundamentals in a noisy market environment, which is determined by the trading skills and needs to be accumulated.

Because investment is a thing that needs to be accumulated, and the accumulation is thin, and haste makes waste.

08

Trading strategy method has no definite method to look at the market

My position cycle is long and short, and there is no fixed pattern.

There are not many trends in the market. Many times, the market fluctuates in shocks, and the holding time of a variety matches investors’ cognition of the variety.

If there is a big contradiction in the market, such as the coke and coking coal market in 2021, and there is a serious mismatch between supply and demand, then the holding period can be appropriately longer.

If the market only deals with short-term changes and prices often rise and fall, then this kind of trading is less involved.

If the market deals with major changes in fundamentals, the holding time will be relatively long.

Therefore,The length of holding positions mainly depends on whether the changing factors of fundamentals are large enough.

My entry account "Datian Aaron" has a maximum historical retracement of 35.84%, and the trading is still biased towards intraday trading. In fact, this is also a bad habit of mine, because I can’t help doing some transactions every day because of some time-sharing changes. In fact, most of these transactions are losing money, so this habit is not good, but the fundamental trading is not always holding on, which is two different things.

The varieties I trade cover almost all markets, including stock indexes, among which apples and palm oil account for the largest percentage.

My preference for variety selection is actually a reflection of my understanding of fundamentals. It can also be seen from the account of "Datian Aaron" that started in May 2022 that I trade more apples and palm oil.

I think, since that time, the market contradiction of these two varieties has been more prominent. Apple has indeed suffered a reduction in production this year, which is a relatively certain opportunity, so there was a previous wave of gains.

As for palm oil, when Indonesia accelerated its export after June 2022, we knew that it had gone through a big bull market for two or three years, and the price rose from more than 4,000 to around 12,000, which was already a very big increase, with the help of the Russian-Ukrainian war. However, after Indonesia accelerated its export, the fundamental situation changed completely, and we saw this.

In fact, palm oil is a variety that has fallen a lot and is smooth recently. If it is smooth, it is easy to hold it, including cotton and copper. There are obvious fundamental changes and it goes smoothly, which will be more friendly for the transaction. Therefore, palm oil and apples are the varieties that I traded more recently.

Followed by the black plate, there are also many transactions, including threads, iron ore, coking coal and coke. From May to now, these varieties are mainly traded.

09

Raise awareness. Iron ore earns more than one million yuan.

In the investment of iron ore, my profit reached more than 1.5 million yuan.

The investment result is the realization of personal cognition, and the fundamental trader earns the money of knowing the world.

The market of black varieties, starting from the monetization of shed reform in 2015, accelerated to "carbon neutral peak carbon dioxide emissions", and experienced a magnificent bull market, with all varieties increasing greatly.

In 2021, after the national "three red lines", we think that the market logic foundation of the black plate began to change. But it doesn’t mean that as soon as the fundamental situation changes, we have to trade immediately, and it sometimes takes time to change from quantitative to qualitative.

The real decline of the black system also began this year. Last year, it may be related to the global political and economic situation, especially the easing after the epidemic.

Starting from 2022, the United States will lead to contraction, and international varieties such as iron ore will be affected. Iron ore is a relatively volatile variety, which is related to both the black plate and the global macroeconomic environment. So it is a variety that I have made more in black.

Judging from the situation of supply and demand, everyone has already seen the reduction of steel production. In addition, the global economy is affected by the tightening caused by the interest rate increase in the United States. These factors are more obvious in iron ore. In addition, screw thread and "double coke" have also been done. These varieties have achieved good returns this year.

10

Laughing deeply understands the withdrawal of red dates with losses

My experience of losing money is very rich. Last year, about 60% of the capital interest in Xiaotian’s account was withdrawn.

The withdrawal of funds is a process that we will inevitably experience in the process of growing up, and it is an inevitable price to pay.

When the retracement happened, it seemed that we lost money, but in fact it helped us expose our own problems in the transaction and brought us an opportunity to reflect, correct and improve.

We have gradually enriched our experience in dealing with retracement, first, in fund management, and second, in grasping the fundamentals. This is a progressive process, and I hope I can slowly control the retreat after that.

Every big loss is a good accumulation of experience and a personal transformation. Every big loss experience is unforgettable, and every big loss variety is painful.

After each loss, I have a deeper understanding of a variety. In 2021, my big loss was on red dates. At that time, the production of red dates was reduced, and the price was predicted to rise.

For a variety like apple, we already know its ceiling price, but for a new variety like jujube, to be honest, there was still a lack of understanding of the price ceiling at that time, and the consumption power was overestimated.

Loss is not a bad thing; At least, for that variety, we will be more confident in the future, and the immediate loss is the cost that will not be lost in the future.

When trading red dates, my own position basis and reasons for opening positions were based on my own judgment at that time. The main basis was that I learned the information of jujube production reduction at the first time, which benefited from the information blessing of many friends and investment partners around me.

I know that after the production of red dates was reduced, I entered the market as soon as possible, although there were also exits on the way. Regulatory factors or various kinds of information from the market, such as less production than expected, will have a certain impact on intraday trading, but they have been taken down all the way, and the bottom warehouse has basically been there.

We thought there would be a higher price in the future, so we didn’t leave the position, but later there was a big retreat, basically like this.

When I fell, I was also carrying it at first. Until the New Year, I found that I really couldn’t keep up with my consumption. At that time, I decided to come out, but I had already retreated a lot of profits, so I made a wave and retreated a wave.

The biggest lesson we have learned is:The price of any variety in the transaction has a ceiling. This ceiling is essentially the point where high prices curb consumption.

Varieties such as red dates and apples are expensive to a certain extent, and people’s acceptance is poor. After doing it once, you will get a valuable experience, and you will know later.

In fact, my mood is rather depressed because the withdrawal of net worth is very large, and my psychological pressure is relatively great. But after you are out, you will let go. Adjust yourself as soon as possible to meet the next transaction. There will always be progress.

If you are small-minded, you can’t bear the fluctuation. When we finish the last transaction, we should invest in the next transaction with a brand-new mentality. Only by earnestly learning from the last experience and lessons can we do better and better.

11

It is common to study the stock market futures market carefully.

If we want to succeed in the stock and futures markets, we must study them thoroughly.

Fundamental trading, whether in stocks or futures, must be thoroughly studied.

For stocks, it is necessary to be able to calculate the profit of an enterprise in the future. The expectation of profit depends not only on your judgment of this industry, but also on your understanding of the profitability of the enterprise itself.

When we plan to invest in stocks, we can calculate how much money it will earn in the next year and what kind of valuation the market will give it, then we can figure out what price it will rise in the future. Although this calculation is not necessarily very reliable, at least you can know what its future trend should be like.

I used to do a lot of cyclical stocks, which have a certain connection with commodities, which is also a favorable help for me to transform into commodities later.

The price of goods will be reflected in the profits of listed companies; Similarly, the judgments on commodities and futures are basically the same.

We can draw some preliminary conclusions about stocks through calculation. For example, coal companies and mining companies can basically calculate their profits through the prices and costs of commodities. If you can give a correct valuation, you can probably figure out what price their share price will reach.

The same is true of futures. When you understand the relationship between supply and demand, you can know the ups and downs.

twelve

Reduce retracement management positions and strengthen self-discipline

Many people have ups and downs in futures investment, which is also a problem I encountered two years ago. That is to say, you can’t control the retreat, you can earn a lot when you earn, and you lose a lot when you retreat.

Futures trading sometimes embodies human nature. In this process, investors can only become mature day by day if they constantly experience and improve themselves.

Positions reflect the degree of greed and fear of investors. When you are greedy enough, you will often add a lot of positions, and many mistakes will occur during this period.

We should avoid the ups and downs in income and strive to reduce the retracement.First, to strengthen position management, we must have strict discipline.For example, ask yourself that the allocation of funds for a single variety should not exceed 20% or even 10% of the invested funds. As long as you can control yourself, then you can basically control the retreat.

The second is to improve personal cognition.Studying the fundamentals clearly can improve the winning rate.

If an investor not only improves the control of his own greed and fear, but also strengthens the cognition of the attributes of the goods themselves, it will certainly be of great help to control the withdrawal of funds and avoid ups and downs.

Investors can’t guarantee that the fundamental research they have done is correct, and the chance of making mistakes is inevitable.

When we place an order through fundamental research, if the market runs in the direction of research, then we should hold this order because you are right.

If there is a loss after two or three consecutive orders, it indicates that there may be something wrong with our research or the timing is wrong.Fundamental trading does not mean stubborn trading.

If the market trend does not match the research results, then we will start to question whether our research is correct. Is there anything else you haven’t noticed?

Sometimes my position will be higher, but this may be because there are many kinds of transactions. In fact, my position of a single variety will not exceed 20% now.

13

Short palm, seize the opportunity and make a big profit

I didn’t have many successful transactions in the past. Whether I made apples or red dates last year, although I made money, I made a big retreat.

I think it is a successful case to make palm oil in 2022.

At that time, when I saw Indonesia’s major turning point from banning the export of palm oil to accelerating the export one month later, I began to short palm oil, but unfortunately I didn’t get it from the beginning to the end.

Although the decline of palm oil exceeded my personal expectation, I basically entered the market at the highest point in this variety. Although I came out early, I didn’t retreat, so I was quite satisfied.

I was able to do this transaction better because:

First of all, thanks to our continuous tracking of its fundamental data.I have made detailed data on all oils and fats.

Secondly, seize the right opportunity to enter.At the moment when the contradiction between supply and demand occurred, I captured the information in time and was able to open the warehouse decisively.

Finally, the trading system and plan were strictly implemented.Instead of being a "frightened bird" in the market development, we have become a "snail that climbs up step by step".

This should be a successful case.

14

Hard work pays off.

Many fundamental traders are persistent and dedicated.Apart from the hobby of sports, I spend most of my life doing research except eating and sleeping.

I do data every day, and I buy a lot of data myself, such as Zhuo Chuang and Gang Lian. The time spent doing research is much longer than the time spent doing business. Except for trading, they are basically doing research.

With the accumulation of time, your cognition will continue to improve; You will become more and more familiar with all aspects of the variety. In the long run, you will have a qualitative change. When there are some fundamental changes in the varieties you are familiar with, it will be relatively easy and faster to grasp.

When each variety has a very clear sense and cognition in your mind, you are very skilled in it, and once the market changes, you will know how to judge.

Since 2017, I have accumulated nearly five years. Looking back now, it was relatively ignorant and naive.

Since 2019, I really accumulated the data and began to gradually understand various varieties.

15

Looking forward to the future, my heart is still climbing hard.

Many subjective traders around me have a lot of ups and downs.

When losing money, the mentality will not be too good.If an investor has a large position, the pressure can be imagined when he encounters losses. This is also related to the investor’s personality.

No matter what kind of investment you make, don’t be too heavy, which is the core of futures trading. It is necessary to grasp the fundamental situation and control human nature.

The result of the transaction matches the investor’s personality.A successful investor, after trading for several years, should be able to realize: what kind of person am I? What is my risk tolerance? Will I be anxious? Everyone’s personality is different, and the answers cannot be the same.

Experience can be replicated.If we have a knowledge of our own personality, then we will slowly explore a set of position management methods suitable for us. Everyone’s personality experience is different, and naturally it will not be repeated when it comes to trading, so everyone should optimize their own model, and it is more difficult to completely change it.

I hope I can do better in futures.

Many commodities have fallen for a long time this year, so you can pay attention to it. Varieties that have not fallen sharply, such as crude oil and soybean meal, can still be concerned.

Whether it is a subjective transaction or a programmed transaction, as long as it can make money continuously and steadily, it is a good way to trade for yourself.

Many excellent programmed trading teams or individuals have small retracement, well-controlled capital curve, stable income and excellent performance. The key is to find their own methods.

Therefore, I also agree with programmatic trading, but I will still stick to my fundamental trading method.

I am full of curiosity about this world, and I have a heart that I always want to explore and know. When I study a variety and understand its silent language and movement trend, I will have a great sense of accomplishment.This feeling, if I engage in programmatic trading, may not be available.

The ruler is short and the inch is long, and what suits you is the best.In the commodity market, behind the price changes of different varieties, there are many contradictions in economy, politics, macro-policy, culture, company management and supply and demand. If I can know more about the world, understand it more deeply, and reflect it with good results in my trading account, this is my greatest sense of accomplishment and my greatest happiness.

For traders, courage is definitely a double-edged sword. I think it’s better to be timid.

There are many ups and downs in the market, and not many people can make money for a long time and steadily.

A wave of big market can achieve a group of people; But after two years, you will find that many people have disappeared again. This is the normal state of investment.

Instead of ups and downs like that, it is better to take small steps steadily every day and not be too greedy. I prefer this mode.

16

Message exchange and learning in the competition have been greatly improved

Two years ago, my trading account retreated a lot, so I always wanted to find a good solution, and I wanted to communicate with experts and learn more from you.

I’ve tried many ways before, but the results are not ideal.Later, I found that it might be a good idea to participate in the competition, because during the competition, I can see the fund curves and net worth charts of some other excellent players, and the master’s practice will be of great enlightenment and help to me; Compared with our own capital curve, we will find many problems, understand many truths, correct many shortcomings and improve our requirements.Therefore, with this purpose in mind, I signed up for the big hand net competition.

There is a "seven-tailed fox" transaction analysis software in Dapan. com, which can conduct a comprehensive dialysis of its own fund accounts, which is better than some curve analysis of fund management we have done ourselves. So I like and cherish such an opportunity to learn and improve.

I hope that the large-scale mobile phone network can continue to be run, and the better it is! I also hope that more and more investors can join this platform of learning, communication and improvement, and I hope that everyone can make money!

Note:The content of this article is for reference only, not as investment advice. The market is risky and investment needs to be cautious..

200609 was compiled from an exclusive interview with the contestant "Da Tian Aaron"

　　　[Disclaimer] This article only represents the views of the third party and does not represent the position of Hexun. Investors should operate accordingly, at their own risk.

　　On the morning of September 26th, 2008, Chou He, then secretary of Kunming Municipal Party Committee, attended the groundbreaking ceremony for the construction of the largest jewelry city in China, with an investment of RMB 2.8 billion.

　　On March 20th, Kunming, the demolished old Luosiwan market became the new Luosiwan commercial center, and the old merchants were forced to move to the new trade city developed by Zhonghao Group more than ten kilometers away.

　　On December 27th, 2008, Chou He, then secretary of Kunming Municipal Party Committee, attended an activity ceremony, with a medical adhesive tape on his hand.

　　Chou He

　　Born in Binhai, Jiangsu Province in January 1957, he was once called "the most controversial party secretary" because of the drastic reform, and was regarded as the representative of personality reform officials in China.

　　Since 1996, Chou He has served as deputy mayor, acting mayor, mayor and secretary of the municipal party committee in Suqian, Jiangsu Province. In 2006, he served as deputy governor of Jiangsu Province. At the end of 2007, he was transferred to the Kunming Municipal Party Committee Secretary. At the end of 2011, he served as deputy secretary of the Yunnan Provincial Party Committee.

　　On March 15th this year, CPC Central Commission for Discipline Inspection announced that Chou He was under investigation for "serious violation of discipline and law".

　　Yesterday, the Standing Committee of Yunnan Provincial People’s Congress decided to remove Chou He from the post of NPC deputy.

　　Just after the two sessions this year, Chou He, a personality official, ended his political performance in an unexpected way.

　　Starting from Shuyang County, Chou He’s name is inseparable from "reform". Measures such as official rectification, urban construction demolition and environmental management made him win the popularity of political voices quickly, but reporting and criticism also went all the way.

　　A Kunming official described Chou He’s style as "like driving a huge city tank and running over it all the way." He said that the "revenge-style" style of rapid reforms has brought a new look to the city. However, the "crushing" ruling method also left room for rent-seeking, and Chou He’s "rule by man" became more and more intense.

　　When the dispute arose, Chou He once said that his goal was to "promote the rule of law by the rule of man". Scholar Shi Pengfei had expected this, and proposed that the perfect result of "Chou He New Deal" should be to "cultivate mature opposition". However, before "promoting the rule of law", Chou He had fallen because of "ruling by man".

　　Chou He’s "right-hand man"

　　In December, 2007, Chou He was transferred from the post of Vice Governor of Jiangsu Province to Yunnan as the secretary of Kunming Municipal Party Committee.

　　"I went to work in Kunming, where people and land are sparse, and I have no relatives or reasons with everyone; Never worked together, and have no hatred or resentment with everyone; Alone, without attachments; Work will be selfless and fearless. " This is Chou He’s "Eight No Words" just arrived in Kunming.

　　In fact, he is not "alone".

　　On March 18th, three days after Chou He’s fall, Xie Xinsong, member of the Standing Committee of Kunming Municipal Committee and vice mayor, was also suspected of serious violation of discipline and law, and was investigated.

　　Three months after Chou He arrived in Kunming, Xie Xinsong, then deputy secretary and district head of Sucheng District Committee of Suqian City, followed him to Kunming as deputy secretary-general and office director of Kunming Municipal Committee.

　　In 1998, starting from the Deputy Director of the Research Office of Shuyang County, Xie Xinsong followed Chou He for 13 years and served as his secretary. According to media reports, Xie Xinsong is very familiar with Chou He’s ruling ideas and has a strong understanding. He is Chou He’s right-hand man who vigorously promotes reform in Suqian.

　　An official in Suqian commented that when Chou He went to Kunming, he also brought his right-hand man. Xie Xinsong was the "right-hand man" and Liu Weigao was the "right-hand man". One was a competent secretary and the other was in charge of commercial development.

　　After Chou He’s fall, Liu Weigao’s name surfaced, and he was known as the "mysterious wealthy businessman" behind Chou He.

　　Liu Weigao was a deputy to the National People’s Congress and the chairman of Zhonghao Commercial Group Co., Ltd. (hereinafter referred to as Zhonghao Group).

　　On March 17th, two days after Chou He’s fall, official website of Zhonghao Group posted an announcement: Liu Weigao applied to resign as the chairman of Zhonghao Commercial Group Co., Ltd. for personal reasons.

　　At the end of February this year, at an internal meeting of Suqian Municipal Committee, an official confirmed that Liu Weigao was under investigation and therefore missed this year’s National People’s Congress on sick leave.

　　The mysterious wealthy businessman recently became the focus of media attention, which was his snail bay project in Kunming.

　　According to media reports in 2011, the whole process of the land transfer auction of the Luosiwan project lasted only about 5 minutes. On March 16, 2011, Yunnan Zhonghao Real Estate Co., Ltd. acquired 27 plots that needed to be bid as a whole with a listing price of 6.487 billion yuan, and the whole transaction took less than 10 minutes.

　　The relationship between Liu Weigao and Chou He has been widely known since Suqian.

　　"Liu Bancheng" is a sure-fire business.

　　In the past, there were two cars with the same license plate running on the streets of Suqian City, Jiangsu Province: Su N00000. One license plate once belonged to the secretary of the municipal party committee, and the other black one belonged to Liu Weigao.

　　Today, Liu Weigao’s real estate projects in Suqian include residential areas, shopping malls, office buildings, entertainment facilities, etc., which occupy almost half of Suqian New Town. Therefore, Liu Weigao was nicknamed "Liu Bancheng".

　　In Suqian, Liu Weigao’s political resources are almost an open secret: Chou He.

　　In 2003, Liu invested 2 million yuan in Suqian to establish Fenna Stocking Industry Co., Ltd.. Wang Ming (pseudonym), a local entrepreneur in Suqian, recalled that after the establishment of the socks factory, Liu Weigao fully demonstrated his "social skills" and used his identity as an investor to move around in Suqian officialdom. At one time, the Suqian municipal government gave gifts to foreign officials and merchants, many of which were "Fenasi" socks.

　　Wang Ming recalled that the connection between Liu Weigao and Chou He originated from a visit to Yiwu by Suqian Municipal Government. Chou He has always been interested in Yiwu’s business model. During the inspection, Liu Weigao organized a reception and a visit, which won the opportunity to communicate with Chou He.

　　A senior official of Zhonghao Group revealed that Liu Weigao had done a lot of homework and read Chou He’s thoughts in order to understand Chou He’s ideas of attracting investment.

　　At this time, Suqian’s investment promotion work has just been put on the right track. In 2002, Chou He brought the nationwide investment promotion model in Shuyang to Suqian, requiring 1/3 cadres to leave their posts for investment promotion and 1/3 cadres to start businesses in rotation.

　　At that time, an official in charge of investment promotion recalled that the two million projects brought by Liu Weigao already belonged to the "big projects" that Suqian could attract. Therefore, after Liu Weigao introduced the model of Yiwu Commodity City to Chou He, Chou He decided to copy the model of Yiwu Commodity City to Suqian. The executor of this decision is naturally Liu Weigao.

　　A wholesale market in Suqian City, which was built in 1997, became an experimental field. However, during the demolition, Liu Weigao proposed that the reconstruction scale of the original site could not be expanded. Later, the municipal government granted another piece of land for Liu Weigao, with an investment of 2.6 billion yuan from Liu Weigao. On August 1st, 2005, Suqian Yiwu International Trade City broke ground.

　　In the eyes of other entrepreneurs, this project is almost a "one-way ticket" from Chou He to Liu Weigao. After the old market is demolished, the old merchants can only choose to buy shops in the new trade city, and the plots in the old wholesale market can also take over and continue to develop.

　　Wang Ming, who is also a developer, estimates that Liu Weigao has made a net profit of at least 780 million yuan for this project, and has since become the most famous businessman in Suqian.

　　Wang Ming recalled that Liu Pingping rarely dealt with local entrepreneurs. Every time he saw Liu, he followed Xie Xinsong, then secretary of Chou He. Another developer said that Liu Weigao’s land acquisition in Suqian at that time was carried out through Xie.

　　　　Yang Wenxiong (right) reported to the Hualien District Inspection Office after being released from prison on parole and tried on an electronic monitoring anklet. (Taiwan Province "Central News Agency" picture)

　　　　People’s Daily Online, September 28 According to the news of Hong Kong Zhongtong News Agency, Yang Wenxiong, known as the "Wolf of Huagang" for committing at least 31 cases of sexual assault 12 years ago, stepped out of Hualien Prison on the afternoon of the 27th after being released on parole, and reported to the Hualien District Inspection Office and the Nursing Association. At the same time, under the supervision of the caretaker, he tied an electronic monitor on his left ankle.

　　　　He has committed more than 30 sexual assaults.

　　　　According to reports, because all sectors of society are generally worried about whether the "Wolf of Huagang" will commit another crime after being released from prison, Huang Yijun, the chief prosecutor of Hualien District Inspection Office, said that according to the evaluation report of the psychological team of the Political University, Yang Wenxiong is still addicted to sexual assault and still has a certain degree of danger, so the prosecution decided that Yang Wenxiong should wear an electronic monitoring anklet after being released from prison on parole. Yang Wenxiong also issued a statement, expressing humility to face the new life and apologizing to the victims.

　　　　Yang Wenxiong committed many sexual assault cases in 1995 and was sentenced to 16 years in prison. Six years ago, he was admitted to the Department of Social Work of Taiwan Province University in prison. For this reason, he applied for parole eight times, which caused great controversy from all walks of life. The students and parents of the Department of Social Work of National Taiwan University expressed strong opposition, but the Ministry of Justice of Taiwan Province did not approve it because of social perception and other factors. In February this year, he applied for parole for the ninth time, and was finally granted parole on September 14th. He was transferred from Taipei Prison to Hualien Prison on 21st, so that he could go home nearby after being released on parole and be taken over by the local rehabilitation counseling unit.

　　　　Although Taiwan Province’s "Ministry of Justice" said that Yang Wenxiong had served his sentence for more than 12 years, he performed well in prison, and after complete psychological treatment, he met the parole requirements, and has instructed the Hualien District Prosecutor’s Office to closely monitor Yang Wenxiong after he was released from prison, including wearing electronic trackers, regularly taking polygraphs and imposing a curfew, so as to grasp his condition.

Editor: Wei Liangchun

CCTV News:The Party’s Report to the 20th CPC National Congress put forward that we should resolutely win the protracted war against corruption, stressing that "as long as there is soil and conditions for corruption, the anti-corruption struggle can’t stop for a moment, and we must always blow the charge". The Second Plenary Session of the 20th Central Commission for Discipline Inspection also made arrangements for this year’s anti-corruption work. Since the first half of this year, which areas have become the focus of anti-corruption? What progress has been made in hunting tigers, flies and foxes? Let’s take a look at the anti-corruption effect in the first half of this year.

At 3: 00pm on January 6th, the State Supervision Commission of the Central Commission for Discipline Inspection reported successively the news that Ji Binchang, then chairman of Qingdao CPPCC, He Zehua, former member of the Party Group and deputy director of the State Tobacco Monopoly Bureau, Wang Xuefeng, former deputy director of the Standing Committee of Hebei Provincial People’s Congress, and three middle-ranking cadres were dismissed. "Three tigers a day" has once again become the focus of society.

In the first half of this year, the State Supervision Commission of the Central Commission for Discipline Inspection has announced that 24 middle-ranking cadres have been examined and investigated, and issued a notice that 7 middle-ranking cadres have been punished by party discipline and government affairs. The website of the State Commission for Discipline Inspection of the Central Commission for Discipline Inspection reported the news that more than 340 bureau-level cadres were dismissed, and more than 200 bureau-level cadres were notified by party discipline and government affairs.

Song Wei, Deputy Director of Beijing Clean Government Construction Research Base:Corruption is the biggest cancer that harms the party’s vitality and combat effectiveness. In the first half of this year, discipline inspection and supervision organs at all levels, in strict accordance with the decision-making arrangements of the CPC Central Committee, made concerted efforts to fight corruption and punish evil with a zero-tolerance attitude, more effectively curbed the increase of corruption, more effectively eliminated the stock of corruption, and continuously purified the political ecology. It fully reflects that as long as the soil where corruption breeds still exists, the anti-corruption struggle will never stop, and the charge must be sounded forever.

The domestic anti-corruption efforts are undiminished, the rhythm is unchanged, and the scale is not loose. The international pursuit of recovery also continues to exert its strength. In March this year, Skynet 2023 was officially launched. In the first half of the year, Wang Dongsheng, a "Hongtong personnel" who fled for nearly 9 years, returned to China to surrender; Li Xi’ an, the former director of Xi’ an Grain Bureau, was arrested and brought to justice less than two months after fleeing; Guo Jiefang, the 62nd "100 Hongtong personnel", returned to China and surrendered himself. Constantly release the strong signal that "if you escape, you must chase it and chase it to the end."

Focus on anti-corruption: state-owned enterprises’ financial grain purchase and sale and other fields

Judging from the distribution of party member cadres who lost their jobs in the first half of the year, in addition to the leading cadres of the party and government organs, there are also personnel in key areas and key positions such as state-owned enterprises, finance, grain purchase and sale. These areas with centralized power, intensive capital and rich resources are the focus of anti-corruption this year.

In January this year, Yu Zhebin, former Party Secretary, Chairman and General Manager of Panzhihua Public Transport Company in Sichuan Province, was sentenced to four years’ imprisonment and fined 400,000 yuan by Panzhihua Eastern District People’s Court for accepting bribes.

After investigation, Yu Zhebin took advantage of his position to seek benefits for others in engineering construction and bus procurement, and received money from others totaling 2.105 million yuan. Among them, nearly 1.7 million yuan came from the sales staff of bus manufacturers.

Rao Shu, Director of the Third Discipline Inspection and Supervision Office of the Eastern District Commission for Discipline Inspection, Panzhihua City, Sichuan Province:Yu Zhebin’s case is a typical case of "relying on enterprises to eat enterprises". Through related party transactions, he connived at certain related parties to illegally undertake profitable business to earn huge profits, and used the power of project examination and approval, vehicle purchase and other rent-seeking to form a circle with unscrupulous businessmen to "eat" enterprises, get kickbacks and accept bribes, in exchange for personal gain at the expense of enterprise interests and state-owned assets, which seriously damaged the business environment and damaged the legitimate rights and interests of state-owned enterprises.

This year, anti-corruption in key areas such as state-owned enterprises, finance and grain purchase and sale continued to advance.

In the first round of the 20th Central Committee’s patrol, 30 central enterprises were routinely patrolled, and five financial institutions were patrolled "looking back". The focus of this patrol included in-depth investigation of corruption in state-owned enterprises and promotion of solving outstanding problems in the financial sector.

Since the first half of the year, the State Supervision Commission of the Central Commission for Discipline Inspection has seriously investigated and dealt with Xu Wenrong, former deputy secretary and deputy general manager of China Petroleum, Zhou Qingyu, former party secretary and vice president of China Development Bank, Li Xiaopeng, former party secretary and chairman of China Everbright Group, Liu Liange, former party secretary and chairman of China Bank, Li Dong, former party member and deputy general manager of National Energy Group, and other state-owned enterprises and middle-level cadres in the financial field, and successively released the news that six batches of central enterprise managers were examined and investigated; Discipline inspection and supervision organs around the country kept a close eye on the "granary rats" and seriously investigated and notified a number of typical cases of corruption in the field of grain purchase and sale, in order to effectively supervise the escort food safety.

Song Wei, Deputy Director of Beijing Clean Government Construction Research Base:Once problems occur in these fields, they often involve large projects and large funds, which will bring very serious adverse effects, affect our high-quality development to a certain extent, and seriously hinder the promotion of Chinese modernization. By focusing on rectifying corruption in these areas, we can promote the process of establishing rules and regulations and promote the better and high-quality development of these key areas.

Anti-corruption in sports has aroused social concern.

In addition to some key areas, there is another area of anti-corruption work in the first half of this year that has also aroused widespread concern in society.

CCTV reporter Song Wei:On March 27 this year, the list of the first round of inspections by the 20th Central Committee was announced. The news of "conducting a mobile inspection of the party group of the State Sports General Administration" quickly became a social hot spot. Less than a week later, the State Supervision Commission of the Central Commission for Discipline Inspection informed Du Zhaocai, then a member of the party group and deputy director of the State Sports General Administration, that he was under investigation. Anti-corruption in the field of sports has become a major focus of anti-corruption work this year.

At the conference on building a clean and honest party style and anti-corruption work in 2023 held by the State Sports General Administration in April, the relevant person in charge of the discipline inspection and supervision team of the General Sports Administration clearly pointed out some outstanding problems in the current sports field, such as the gap in the practice of "two maintenances", the weakening of the party’s leadership, the loose and soft management of the party, the lax and unrealistic discipline style, and the great risk of honesty.

Since the first half of this year, there have been a number of party member cadres in the field of sports, such as Hu Guangyu, then deputy director of the Political and Legal Department of the State Sports General Administration, Chen Xiaoyuan, then chairman of the China Football Association, Li Yuyi, then chairman of the China Football Association, Yu Hongchen, then chairman of the China Athletics Association, Liu Aijie, former chairman of the China Rowing Association and the China Canoeing Association, and Ma Chengquan, former chairman of the Super League Company.

Sun Dawei, Deputy Secretary General of China Integrity Research Center of Chinese Academy of Social Sciences:The construction of a sports power is a major strategic plan made by the party and the country with a long-term view. However, there is still a gap between the requirements of the party and the country and the expectations of the people in many sports fields, especially the management of some sports associations is chaotic, cronyism is rampant, and professional and systematic corruption appears in the football field. Discipline inspection and supervision organs at all levels and relevant competent departments should resolutely punish "relying on the body to eat the body", thoroughly find out and promote the solution of corruption and deep-seated institutional mechanisms in the sports field, and provide a strong political and disciplinary style guarantee for creating a new situation in building a sports power.

1. Different models: Sylphy is a compact car owned by Dongfeng Nissan, and the new Sylphy is an upgraded version of Sylphy.

2. Different design: The new Sylphy has been optimized and improved in design, and adopted a brand-new V-Motion 2.0 design language, which makes the vehicle look more fashionable and dynamic.

3. Different interior design: The new Sylphy has also improved its interior design, adopting a brand-new design style, which enhances the luxury and comfort inside the car.

4. The power system is different: the new Sylphy is equipped with a brand-new HR16DEGen3 intelligent engine. Compared with the old Sylphy engine, its performance has been improved and its fuel consumption has been optimized.

5. Configuration upgrade: The new Sylphy has also been upgraded in configuration, such as adding more driver assistance systems and intelligent interconnection functions.

Screenshot from official website of China Securities Regulatory Commission.

China Net News April 17 (Reporter Hu Yongping) The noisy acquisition of Wanjia Culture by Zhao Wei and his wife finally came to fruition after a lapse of nearly half a year. On April 16th, the CSRC issued the Decision on Administrative Punishment and the Decision on Market Prohibition in official website, ordering Wanjia Culture and Longwei Media to make corrections, giving them a warning and imposing a fine of 600,000 yuan respectively. Kong Deyong, Huang Youlong, Zhao Wei and Zhao Zheng were given warnings and fined 300,000 yuan respectively. Huang Youlong, Zhao Wei and Kong Deyong were banned from the securities market for five years respectively.

This time, the CSRC issued the official Decision on Administrative Punishment. It has been five months since November 2017, when Wanjia Culture (renamed Xiangyuan Culture) received the Notice of Administrative Punishment and Market Prohibition from the CSRC. During this period, Zhao Wei and Huang Youlong filed a defense with the CSRC.

The punishment decision of the CSRC published the arguments of Huang Youlong and Zhao Wei in detail and refuted them one by one.

According to the facts, nature, circumstances and social harm of the parties’ illegal acts, and according to the provisions of the first paragraph of Article 193 of the Securities Law, the CSRC decided to order Wanjia Culture and Longwei Media to make corrections, give them a warning and impose a fine of 600,000 yuan respectively; Kong Deyong, Huang Youlong, Zhao Wei and Zhao Zheng were given warnings and fined 300,000 yuan respectively.

The decision also states that the above-mentioned parties shall remit the fine to China Securities Regulatory Commission within 15 days from the date of receiving this penalty decision. If a party refuses to accept this punishment decision, he may apply to China Securities Regulatory Commission for administrative reconsideration within 60 days from the date of receiving this punishment decision, or bring an administrative lawsuit directly to the people’s court with jurisdiction within 6 months from the date of receiving this punishment decision. During the period of reconsideration and litigation, the above decision shall not be suspended.

The five-year ban means that during these five years, Mr. and Mrs. Zhao Wei and Mr. Huang Youlong may not continue to engage in securities business in the original institution or serve as directors, supervisors or senior managers of the original listed company, nor may they engage in securities business in any other institution or serve as directors, supervisors or senior managers of other listed companies.

Securities and Futures Commission points out "five sins" of Longwei Media:

1. Longwei Media’s acquisition of listed companies by shell companies and its hasty announcement have seriously misled the market and investors under the circumstances that the funds in its own territory are insufficient and the financing of relevant financial institutions has yet to be approved, and there is great uncertainty.

The acquisition requires a total of 3,059.9 million yuan. In the acquisition plan, Longwei Media has its own funds of 60 million yuan, and the remaining funds are borrowed, with a leverage ratio of 51 times. Only after the signing of the Share Transfer Agreement did Longwei Media negotiate financing with the relevant banks, and the financing funds of this bank need to be approved by the head office, and there is still uncertainty whether it can be finally approved.

Longwei Media was established one month before the acquisition. During this period, the funds were not fully prepared. Under the circumstances that the funds payable in China were limited and the funds to be incorporated by financial institutions were not fully prepared, it adopted a highly leveraged acquisition method and signed an equity transfer agreement. In the case that the performance ability and performance results are not exact, and the authenticity and accuracy of the acquisition behavior cannot be guaranteed, the acquisition information is rashly announced. Due to the superposition of celebrity effect and other factors, its behavior seriously misled the market and investors, aroused great concern from the market and the media, and caused the stock price of Wanjia Culture to fluctuate greatly, seriously disrupting the normal market order.

2. There are false records and major omissions in the information disclosure of Longwei Media about the financing plan and arrangement.

Longwei Media said in its reply to the inquiry letter on January 12, 2017 that it pledged financing of 1,499.9 million yuan to financial institutions, and the disclosed financing amount was inconsistent with the actual situation that CITIC Bank planned to provide financing of 3 billion yuan to Longwei Media.

The payment method disclosed by Longwei Media in its reply to the inquiry letter on January 12, 2017 is a definite step and a definite amount, but it is not completely disclosed that the payment method will be adjusted with the approval of financial institutions.

Longwei Media did not specify the huge uncertainty of financing of financial institutions in the announcement, and there were major omissions.

3. Longwei Media did not disclose the failure to reach financing cooperation with financial institutions in time.

On January 12, 2017, Longwei Media said in its reply to the inquiry letter of Shanghai Stock Exchange through Wanjia Culture that the approval process for stock pledge financing of financial institutions is expected to be completed before January 31, 2017. The evidence shows that on January 23, 2017, Wanjia Group and Longwei Media knew that their financing plan to CITIC Bank Hangzhou Branch had not been approved by CITIC Bank Head Office. As of January 31, 2017, Longwei Media has not reached a financing cooperation with any financial institution.

4. Longwei Media has made major omissions in the disclosure of the reasons for failing to complete the financing plan on schedule.

Longwei Media attributed the failure to complete the financing plan on schedule to the failure of financing approval of financial institutions in the announcement disclosed by Wanjia Culture on February 16, 2017. It did not disclose the fact that Yinbixin did not prepare enough funds when the second equity transfer payment should be paid, and there were major omissions.

5. Longwei Media’s information disclosure about actively promoting the successful completion of this transfer of controlling interest has false records and misleading statements.

On January 12, 2017, Longwei Media said in its reply to the inquiry letter of Shanghai Stock Exchange through Wanjia Culture, "If Longwei Media fails to obtain the stock pledge financing of financial institutions in time and in full, Longwei Media will actively communicate with Wanjia Group to make this transaction complete smoothly, and continue to seek the stock pledge financing of other financial institutions."

The evidence shows that Longwei Media did not actively communicate with Wanjia Group and did not contact other financial institutions to seek financing after the approval of CITIC Bank failed, and there were false records and misleading statements in information disclosure. According to Kong Deyong’s inquiry record, Longwei Media did not actively communicate with Wanjia Group after the financing approval of CITIC Bank failed. On February 7, 2017, Huang Youlong sent Zhao Zheng to directly discuss with Kong Deyong about the termination of the acquisition of the controlling stake. At the same time, Huang Youlong, Zhao Zheng and others also said that after the financing plan of CITIC Bank was not approved, Longwei Media had no contact with other financial institutions.