作者： admin

Attention! These sections of the ＂Double Festival＂ in the north, Guangzhou and Shenzhen are prone to congestion, and traffic control in some areas.

　　Zhongxin Jingwei Client September 29th (Seimi Zhang) This year’s National Day Mid-Autumn Festival lasts for 8 days from October 1st to October 8th, and the National Day Mid-Autumn Festival overlaps. In addition, the epidemic prevention and control continues to improve, and the demand for holiday travel is released in a centralized way. The traffic control department predicts that there will be a peak of road traffic in China, mainly for tourism and visiting relatives, and the "two festivals" will come. Which sections of the first-tier cities in Guangzhou, Shenzhen and Shenzhen are prone to congestion? How to bypass the blocking point? The Zhongxin Jingwei client will take you through.

　　Ministry of Public Security: From 14: 00 to 23: 00 on September 30, the national expressway will continue to be congested

　　On September 27th, the Ministry of Public Security combined with the map of Gaode predicted the top ten popular highway sections in China during the long holiday, which were mainly located in the Yangtze River Delta and Guangdong-Hong Kong-Macao Greater Bay Area.

Source: 2020 Mid-Autumn National Day Holiday Safe and Smooth Guide

　　Among them, G2 Beijing-Shanghai Expressway (Wuxi section) has the largest traffic volume, followed by G4 Beijing-Hong Kong-Macao Expressway (Guangzhou section, Dongguan section) and G2 Beijing-Shanghai Expressway (Suzhou section).

　　In terms of congestion-prone periods, it is expected that there will be continuous congestion on the national expressway from 14: 00 to 23: 00 on September 30, and there will be a congestion peak on October 1, in which 9: 00 am to 12: 00 am is the peak travel period, and the peak appears from 10: 00 to 11: 00.

　　These places around Beijing Expressway are prone to congestion when entering and leaving Beijing.

　　The traffic police in Beijing suggested that it is expected that the major expressways leading to suburbs and surrounding provinces and cities such as Beijing-Tibet, Jingcheng, Airport, Beijing-Hong Kong-Macao, Jingkai, Beijing-Shanghai and Jingha during the Mid-Autumn Festival of National Day this year will have a prominent traffic pressure from 6: 00 to 12: 00 on October 1 and 2, and 10: 00 on October 1 is the time when the traffic pressure is the greatest during the National Day holiday; From 16: 00 to 19: 00 on October 6, 7 and 8, the traffic flow into Beijing was particularly concentrated.

Source: Public Security Traffic Management Bureau of Beijing Public Security Bureau

　　Beijing traffic police predict that the traffic pressure on Beijing-Tibet, Jingcheng, Airport, Beijing-Hong Kong-Macao, Jingkai, Beijing-Shanghai, Jingha and other expressways and some national highways leaving Beijing will increase significantly from 6: 00 am to 12: 00 am on October 1 and 2, including Qinghe Toll Station of Beijing-Tibet Expressway, Shahe Bridge, Xiguan of Changping, Juyongguan and the exit of Wildlife Park, Wanghe Bridge and Laiguangying Bridge of Jingcheng Expressway and Dujiakan of Beijing-Hong Kong-Macao Expressway.

Source: Public Security Traffic Management Bureau of Beijing Public Security Bureau

　　The traffic police in Beijing predicted that the traffic pressure in the direction of Beijing will increase obviously from 14: 00 to 18: 00 on October 6 to October 8, among which Kangzhuang, Juyongguan, Xisanqi, Beishatan on Beijing-Tibet Expressway, Huanggang and Taiyanggong on Beijing-Chengde Expressway, Liulihe and Xidaokou on Beijing-Hong Kong-Macao Expressway, Yuquanying, Xinfadi and Yufa on Beijing-Kaikou Expressway are all points where there are many cars in the direction of Beijing.

　　The longest congestion time in Shanghai is 13 hours and 17 hours respectively.

　　The Shanghai traffic police reminded that it is expected that the peak of high-speed traffic congestion will be from 14: 00 to 20: 00 on September 30; October 5 and October 6 are the return congestion peaks, and the congestion peaks are from 14: 00 to 19: 00.

　　Source: "Focus 4 Shanghai Traffic Police Micro Release" micro signal

　　According to the Shanghai traffic police, according to the traffic big data forecast of Gaode map, the high-speed roads that are easy to block and slow down in Shanghai during the eleventh period are mainly G1501 Shanghai Ring Expressway (north of Yuanhang Road), S20 Outer Ring Expressway, G2 Beijing-Shanghai Expressway and other high-speed sections. Among them, G1501 Shanghai Ring Expressway (north of Yuanhang Road) Wuzhou Avenue overpass — Direction of Shanghai-Chongsu Overpass and Heqing Service Area — The congestion duration in the direction of Shanghai Chongsu overpass is 13 hours and 11 hours respectively, and the congestion period is from 11: 00 to 24: 00 and from 13: 00 to 24: 00 respectively.

Source: "Focus 4 Shanghai Traffic Police Micro Release" micro signal

　　In addition, the high-speed roads that are easy to block and slow down on the return trip in Shanghai are mainly some sections of high-speed roads such as G40 Shanghai-Shaanxi Expressway, G2 Beijing-Shanghai Expressway and G50 Shanghai-Chongqing Expressway. Among them, G40 Shanghai-Shaanxi Expressway Chen Hai Highway — The entrance and exit of G1501 Shanghai Ring Expressway is congested for 17 hours, and the congested sections are from 0: 00 to 2: 00, from 7: 00 to 21: 00, and from 22: 00 to 23: 00.

Source: "Focus 4 Shanghai Traffic Police Micro Release" micro signal

　　In terms of congested road sections in Shanghai, during the Eleventh Holiday, Shanghai Wuzhou Avenue, Xiangyin Road Tunnel, Renmin Road, Yan ‘an East Road and Yan ‘an Elevated Louis were congested, among which Wuzhou Avenue went from Xiangyin Road Tunnel to G1501 Shanghai Ring Expressway — The congestion delay index from west to east is 4.7, and the average speed is 15 km/h.

　　Guangzhou released a detour route for congested road sections.

　　Guangzhou traffic police predicted that on the day of the "Double Festival", some trips to visit relatives and return home will tend to be concentrated in the afternoon of September 30, after work and the morning of October 1; Local travel tends to travel on the morning of October 2.

　　Among them, it is expected that there will be more serious congestion on 10 roads in Guangzhou at the peak of September 30. TOP1 is Guang Yuan Middle Road (Yunshan South Road-Airport Section), and the congested areas include Yuexiu District (Dongfeng Middle Road and Huanshi Middle Road) and Liwan District (Kang Wang North Road, Dongfeng West Road and Huangsha Avenue), Tianhe District (Tianhe East Road) and Haizhu District (Liede Avenue).

　　In terms of high-speed, this year’s high-speed "blocking" bureau is expected to begin to appear at 12 noon on September 30, and the congested high-speed TOP1 is S303 South China Expressway (Cencun Interchange -G4 Beijing-Hong Kong-Macao Expressway) with the most serious traffic congestion. Followed by airport expressway and ring expressway. During holidays, Sanyuanli-Banghu Interchange Section of Airport Expressway; Huashan Interchange-Huashan Tunnel Section of Leguang Expressway; Chungang Interchange-Shimentang Tunnel Section of South China Expressway; The traffic in the bottleneck sections of Guanfo Expressway, such as Tanwei Interchange-Humen Bridge and North Third Ring Road (Airport North Interchange-Yanghe Lijiao), is dense, and it is expected that there will be frequent slow driving, resulting in a long slow driving distance.

Airport high-speed control measures and bypass map. Source: "Guangzhou Traffic Police" micro signal

　　Guangzhou traffic police suggested that when leaving the city, Guangzhou should go to the airport. In order to avoid the slow section of the airport, it is suggested to choose the ground road as far as possible and bypass the ground road such as Helong Road (G106). Some passengers can transfer to Huaguan Expressway via Beijing-Hong Kong-Macao Expressway to the airport.

A detour map of passengers going to the airport in western and eastern Guangdong. Source: "Guangzhou Traffic Police" micro signal

　　Passengers going to the airport in western Guangdong and eastern Guangdong are advised to bypass the airport expressway through the North Third Ring Road and avoid the slow-moving sections such as the North Second Ring Road. In order to avoid the slow-moving section of Chungang Interchange-Shimentang Tunnel, it is suggested to bypass Zhong Luotan via Guangcong Highway (G105) and continue northward. Citizens who are going to Conghua are advised to go to Badou Interchange via Guangzhou-Shantou Highway and continue northward.

　　In addition, the Guangzhou traffic police predicted that the returning traffic will start from October 6th until the end of the holiday. Expressway return: the afternoon of October 6 -8 is the main congestion period, and the congestion is the most serious on the afternoon of October 7 and 8, or it will last until night; In terms of roads in the central city: Except for the congestion in some sections from the afternoon of October 7 and October 8, the overall traffic operation is expected to be relatively normal.

Airport expressway southbound detour map. Source: "Guangzhou Traffic Police" micro signal

　　On the return trip, Guangzhou traffic police advised car owners from Shaoguan and Hunan to avoid the rush hour and return to the city as much as possible. Car owners returning to the city during the rush hour can bypass the ground transportation such as National Highway G106 or Guangqing Expressway to avoid the slow-moving section of Huashan-Airport.

Airport passenger return detour map. Source: "Guangzhou Traffic Police" micro signal

　　Guangzhou traffic police advised passengers from the airport to avoid the slow-moving sections such as Pingsha Interchange and Huangshi-Sanyuanli Interchange through Helong Road (G106).

　　Shenzhen-Shantou Expressway has the largest single lane traffic.

　　Shenzhen traffic police predicted that September 30th to October 2nd would be the peak of deep congestion. October 6, 7 and 8 are the peak of return congestion.

　　In the depth direction, G15 Shenhai Expressway, S31 Longda Expressway, S33 Nanguang Expressway, East Coast Expressway and G4 Beijing-Hong Kong-Macao Expressway are prone to congestion.

　　In the deep direction, there are G15 Shenhai Expressway, Huiyan Expressway, Wushen Expressway, East Coast Expressway, Yanba Expressway, especially the He ‘ao-Longgang section of Shenhai Expressway.

　　The Shenzhen Traffic Police predicted that the Meiguan Expressway, with the highest average single lane, will reach 16,000 vehicles/day, with the largest traffic volume. According to the statistics of traffic flow in and out of deep roads during the National Day holiday in previous years and referring to this year’s Dragon Boat Festival, Shenzhen-Shantou Expressway has the largest traffic flow, followed by Nanguang Expressway and G94 (Meiguan Expressway). In the depth direction, G94 (Meiguan Expressway) is the largest, followed by Guangzhou-Shenzhen Expressway along the Yangtze River and Shenzhen-Shantou Expressway.

　　Traffic control is implemented in these areas.

　　Traffic control in Tiananmen area during September 30th and 11th in Beijing.

　　In Beijing, the flag-raising ceremony ended from 22: 00 on September 29 to October 9, and vehicles were banned from the surrounding roads such as the east and west roads of Tiananmen Square and the south road of the Great Hall of the People.

　　From 6: 30 on September 30 to the end of the activity, motor vehicles are prohibited from getting on and off passengers on the east side road and the west side road of Tiananmen Square, and buses are allowed to pass by.

　　From 7: 00 on September 30 to the end of the event, the south side of the Great Hall of the People, the intersection of Zhengyi Road in Dongjiaominxiang (excluding) to the west exit of the New World, the intersection of the west side of the Great Hall of the People and Xijiaominxiang (excluding) to the east exit of Xijiaominxiang, the east and west Tongzi River Road, and the north of Jinshui Bridge in Tiananmen Square to the north wall of the Forbidden City, all other vehicles and pedestrians are prohibited from passing; Non-motor vehicles and pedestrians are prohibited from passing on the east side of Tiananmen Square and the west side of Tiananmen Square; The two-way section of Chang ‘an Street from the south exit of Nanchang Street (excluding) to the south exit of Wang Hongbin Street (excluding) is closed to pedestrians; Chang ‘an Street runs from the south exit of Fuyou Street (excluding) to the south exit of Nanheyan Street (excluding) in both directions. It is forbidden for motor vehicles to get on and off passengers. Buses and subways on both sides of the line pass by, and Qianmen Station of Metro Line 2 passes by.

　　From 8: 00 on September 30 to the end of the event, no other vehicles are allowed to pass on the east side road of Tiananmen Square and the west side road of Tiananmen Square, except those with special documents for the ceremony. Buses passing through the east side road and the west side road of Tiananmen Square bypass North Xinhua Street, Zhengyi Road and Taijichang Street.

　　From 9: 40 on September 30th to the end of the activity, the east and west streets of Qianmen are closed to motor vehicles from the south exit (excluding) of the west side road of the Great Hall of the People to the south exit (excluding) of Zhengyi Road.

　　From 9: 40 to 10: 15 on September 30, Chang ‘an Street was closed to all kinds of vehicles and pedestrians from the south exit of Nanchang Street (excluding) to the south exit of Nanheyan Street (excluding).

　　Some roads in Shanghai are closed to motor vehicles.

　　In Shanghai, traffic control is implemented from 16: 30 to 23: 30 every day from September 30 to October 7.

　　In Puxi area: along Liyang Road (south of Changzhi Road) — Changzhi Road — Tiantong Road — Qufu Road — Xizang North Road — Tibet Middle Road — Beijing West Road — Chengdu North Road — Chongqing Middle Road — Chongqing South Road — Huaihai Middle Road — Huaihai East Road — Renmin Road — Motor vehicles are prohibited from passing on the ground roads in the area enclosed by Dongmen Road and Huangpu River (excluding the above roads). Yan ‘an Elevated Road (east of North-South Elevated Road), only motor vehicles leaving the Bund Tunnel on Yan ‘an Elevated Road and entering Yan ‘an East Road Tunnel and Bund Tunnel via Yan ‘an Elevated Road are allowed to pass. Yan ‘an East Road Tunnel (from Puxi to Pudong) only allows motor vehicles to pass through Yan ‘an Elevated Road, exit Fujian Road and enter Yan ‘an East Road Tunnel. In Pudong area: along Baibu Street — Lujiazui Ring (North) Road — Lujiazui Ring (South) Road — The roads in the enclosed area of Shibu Street and Huangpu River (excluding the above roads) are prohibited from passing by motor vehicles.

　　For non-motor vehicle traffic control, along South Suzhou Road (east of Henan Middle Road) — Henan Middle Road — South Henan Road — Renmin Road — The roads in the enclosed area of Xinkaihe Road and Huangpu River (including the above roads) are prohibited from passing by non-motor vehicles.

　　Temporary control by sections and grades is implemented on some expressways in Guangzhou.

　　Guangzhou traffic police reminded that the traffic police department will follow the Guangzhou Airport Expressway (Sanyuanli Interchange — Benghu Interchange Section) The northbound main line runs slowly. According to the traffic situation, the northbound Xinshi, Huangshi North Entrance, and the North Ring Road, Huakuai Phase III and North Second Ring Road turn to the airport expressway ramp are temporarily controlled by sections and grades.

　　Guangzhou traffic police said that if the traffic on the northbound main line of Leguang Expressway (Huashan Interchange-Huashan Tunnel) is slow, the traffic police department will temporarily control the entrance of East Lake according to the on-site traffic conditions. If the traffic in Chungang-Shimentang tunnel section of South China Expressway is slow, the traffic police department will borrow the opposite lane from the south entrance to the north exit of Shimentang tunnel according to the on-site traffic situation; At the same time, intermittent control is implemented at the entrance of Longdong toll station in a timely manner.

Comments on the Management of Maxim’s 2023 Annual Board of Directors

The operating comments of Maxim’s 2023 annual board of directors are as follows:

　　I. Discussion and analysis of business conditions

The company focuses on the R&D and sales of high-performance analog and digital-analog mixed chips. After years of development and precipitation, it has now formed a "power management+signal chain" dual-drive product system. The main products include wireless charging chips, lighting driving chips, wired fast charging chips, signal chain optical sensors and automotive electronic products. Relying on the "mobile phone+car" user platform, the company is committed to providing rich and high-quality chip products and solutions for downstream customers. The products can be widely used in communication terminals, consumer electronics, industrial and commercial lighting, smart home, automotive electronics, industrial control and other fields.

In 2023, due to insufficient domestic total demand, overlapping cyclical and structural contradictions, intensified international trade friction, continuous geopolitical conflicts and the reshaping of supply chain, the overall macro-economy and semiconductor industry recovered less than expected. Facing the complicated development environment, the company’s management team adheres to the core values and business philosophy of "initiative, ambition, Excellence, innovation and competitiveness" to ensure the company to carry out its work steadily and orderly around its strategic objectives and business planning. The main achievements are as follows: 1. The company actively optimizes the product structure and supply chain structure, vigorously lays out the product series that are in urgent need of domestic substitution and have broad market space, and continuously enhances its core competitiveness; Second, the company accelerated the technical iteration and enriched the product matrix. Among them, the signal chain products achieved a breakthrough in mass production from 0 to 1, the wireless charging products accelerated the iterative upgrade, and the shipments of analog power products increased significantly. In the future, it will focus on high-value segments; Third, continue to increase investment in research and development, broaden the process platform, deeply integrate the supply chain system, consolidate the quality system, and promote the globalization strategy.

During the reporting period, the company achieved an operating income of 472.306 million yuan, a year-on-year increase of 7.06%; The net profit attributable to shareholders of listed companies was 30,153,500 yuan, a year-on-year decrease of 42.67%; The gross profit margin of the main business was 28.79%, a decrease of 3.96 percentage points compared with the same period of last year. At the end of the reporting period, the company’s total assets were 2,155,707,800 yuan, an increase of 190.31% compared with the end of last year, and its net assets were 2,082,058,800 yuan, an increase of 208.26% compared with the end of last year.

During the reporting period, the specific operating conditions of the company are as follows:

(1) Optimize the income structure and continuously enhance the core competitiveness.

During the reporting period, with the popularization of wireless charging application scenarios and the infiltration of terminal application ecology, the company continued to increase investment in wireless charging product series, actively carried out new product research and development, extended downstream application fields and expanded end customers, and finally realized the continuous improvement of the sales scale of wireless charging product series. The wireless charging product series realized a revenue of 200,829,300 yuan, a year-on-year increase of 64.06%; It accounted for 42.52% of the company’s overall operating income, an increase of 14.77 percentage points compared with 2022. The signal chain product series represented by optical sensing has achieved a breakthrough in revenue from 0 to 1, achieving a revenue of 11,013,200 yuan. The above two emerging product lines will become important for the company’s performance growth ().

(2) Continue to increase investment in R&D and accelerate the iterative upgrading of technology.

During the reporting period, the company invested RMB 102.74 million in R&D, a year-on-year increase of 56.31%. By the end of the reporting period, the number of R&D personnel of the company reached 168, up 47.37% year-on-year, accounting for 62.92% of the total number of the company, mainly due to the company’s increasing investment in R&D technology of wireless charging, analog power supply, optical sensing and vehicle-standard products and the construction of talent echelon.

By the end of the reporting period, the company had obtained a total of 150 patents, including 3 international invention patents, 52 domestic invention patents, 84 utility model patents and 11 exclusive rights in layout design of integrated circuits. The company has added 10 core technologies, namely, high-integration miniaturized wireless charging management chip technology, ultra-low power consumption technology in SoC, stroboscopic SCR dimming technology, compensation loop power supply technology, realization method of new European standard and new national standard circuit, wide dynamic range ambient light detection technology, low-power high-precision proximity detection technology and low-voltage signal identification technology, all of which have been applied in products.

(3) Enrich the product matrix, consolidate the dual drive of "power management+signal chain" and build a dual platform of "mobile phone+car"

1. The research and development of optical sensing series is progressing rapidly, achieving a breakthrough in mass production.

Signal chain optical sensor chip, as a kind of sensor product which integrates digital-analog mixed SoC chip, optical path design, packaging design, VCSEL, PD technology, coating technology and image processing technology, belongs to a highly interdisciplinary field. The company’s core technical team has the experience and deep foundation of mixed digital and analog technology, and has the ability to independently develop technology, and has rich technical reserves and supply chain resources in the laser field. The company’s R&D team has made great breakthroughs in core technical fields such as high sensitivity, high precision and wide dynamic range by combining mature technologies of the original product line, such as low-power processing algorithm and digital-to-analog noise reduction technology. Through the integration of optics, technology, digital-to-analog conversion, image processing and other disciplines, the optical sensor chip is systematically optimized, thus realizing the rapid layout of signal chain products.

During the reporting period, the company made great breakthroughs in core areas such as high sensitivity, high precision and wide dynamic range through its leading edge in low-power processing algorithm and digital-analog noise reduction technology, and made great progress in a number of signal chain optical sensing products, including ambient light sensing, proximity sensing, skin recognition sensing, environment and proximity sensing, and optical displacement sensing, which can be applied to smart phones, wearable devices and automotive electronics. Among them, in-ear detection sensing and narrow seam three-in-one sensing have all entered the mass production state. Polarized light crown chip is the industry’s first high-precision optical tracking sensor integrated with rotation and pressing detection functions for smart watches, and has started large-scale delivery for well-known customers in the industry.

2. The wireless charging ecosystem continues to expand, and the wireless charging series is growing rapidly.

With the rapid development of new energy electric vehicles in China, on-board wireless charging, as an important application scenario of wireless charging, is expected to spread rapidly and promote the further development of consumers’ wireless charging habits; On the other hand, wireless charging tends to sink in smart phone applications. In addition to high-end mobile phones such as folding screen mobile phones, full-screen mobile phones and AI mobile phones, wireless charging is basically standard, and some low-end mobile phones are also equipped with wireless charging function. All the above factors will promote the expansion of wireless charging ecology and promote the demand for products such as wireless charging chips.

During the reporting period, the company’s wireless charging series continued to improve the full range of 5W-100W wireless charging receivers and transmitters, and took the lead in launching the 80W wireless charging receiver chip with process innovation and technical iteration to meet the application requirements of the latest wireless charging standards and flagship brands of the Ministry of Industry and Information Technology. Relying on the smart phone and its accessories platform, the company improves the full coverage layout of wireless charging, wired fast charging, optical sensing and other products, continuously enriches the product matrix, and constantly explores emerging market areas and customer groups while increasing customer stickiness.

3. Actively optimize the product structure of analog power supply and focus on high-value segments.

The company focuses on the industrial and commercial lighting application with large wattage and the intelligent dimming scheme of the whole scheme. Under the general environment that the overall growth rate of the household consumption industry tends to be stable, the company will give full play to the leading edge of differentiated product layout and technology in the LED field, actively optimize the product structure, and will pay more attention to the development of automotive lighting, such as headlights, surround lights, atmosphere lights and other products. At present, the company has a number of automotive lighting drive products in the car factory client to actively promote verification testing. At the same time, the company will continue to promote the original high value-added products, respond to the diversified needs of customers, adapt to the current development trend of smart homes and smart industrial buildings, and strive to achieve the sustainable growth of this product line in the future.

4. Automotive electronics highly cooperate with existing product lines, and actively expand the new direction of domestic substitution.

According to the automobile production and sales situation in 2023 released by China Automobile Industry Association, the production and sales of new energy vehicles in China in 2023 were 9.587 million and 9.495 million respectively, up by 35.8% and 37.9% year-on-year, and the market share reached 31.6%, 5.9 percentage points higher than the same period of last year. The rapid rise of the new energy vehicle market brought new growth opportunities for the development of semiconductor and automotive electronics industries, and the company was actively promoting the research and development and layout of automotive electronic products.

In the field of automotive electronics, the company uses rich and mature experience in chip design and mass production in consumer and industrial application scenarios. On the one hand, it mainly lays out directions that are highly coordinated with existing consumer product lines, such as vehicle wireless charging, automotive lighting, rainfall/fog detection optical sensing and other fields. During the reporting period, the on-board wireless charging transmitter chip has passed the AEC-Q100 car code certification, and has been verified and tested in several car factories. On the other hand, the company is committed to the research and development of automotive electronics products with high integration and urgent need for domestic substitution. During the reporting period, the company cooperated with the domestic new head car companies to develop the system-based chip (CANSBC chip) for car regulation application, which is a highly integrated single chip integrating CAN transceiver, system mode, fail-safe function control and power management. At present, this field is monopolized by overseas manufacturers. The overall development and testing of this product is progressing smoothly. The company will continue to invest in technological innovation and research and development in the field of automotive electronics, and strive to build it into a new engine for performance growth.

(D) Continue to broaden the process platform and consolidate the quality management system.

The process platform is the basis of analog chip design and production. The company has established its own process research and development team, which has the ability to independently research and develop processes and special devices. During the reporting period, in the field of wireless charging, the head manufacturer of the public and supply chain successfully developed the 90nm40VBCD process for 12-inch wafers, which greatly reduced the production cost. In the field of optical sensing, the self-developed photoelectric technology and coating technology are deeply explored to contribute to the rapid mass production breakthrough of optical sensing chips. In the field of analog power supply, the second-generation self-developed 700V-BCD high-voltage integration process and 100V-BCD device process were completed, which effectively reduced the production cost of corresponding products and greatly improved the market competitiveness of the company’s products.

The company has established a perfect quality management system, which runs through the complete chain of design, production and customer service to realize the quality control and grasp of the whole product life cycle. During the reporting period, the company increased investment and practice in the quality management system, and set up a vehicle regulation laboratory for the reliability verification of vehicle regulation products, which improved the reliability control of products and accelerated the layout of automotive electronic products.

(V) Set up wholly-owned subsidiaries at home and abroad to promote the internationalization strategy.

In order to further establish R&D echelon, expand overseas markets, enhance international market share and optimize global supply chain integration, the company decided to set up wholly-owned subsidiaries at home and abroad to better serve customers and build R&D centers. By the end of the reporting period, Maxim completed the establishment of a wholly-owned subsidiary in Hong Kong, which radiated overseas markets such as South Korea and India, and was conducive to the strategic development of the company’s internationalization.

II. Description of the company’s main business, business model, industry and R&D during the reporting period.

(a) the main business, main products or services.

The company focuses on the R&D and sales of high-performance analog and digital-analog mixed chips. After years of development and precipitation, it has now formed a "power management+signal chain" dual-drive product system. The main products include wireless charging chips, lighting driving chips, wired fast charging chips, signal chain optical sensors and automotive electronic products. Relying on the "mobile phone+car" user platform, the company is committed to providing rich and high-quality chip products and solutions for downstream customers. The products can be widely used in communication terminals, consumer electronics, industrial and commercial lighting, smart home, automotive electronics, industrial control and other fields. The company’s products cover many well-known brands including brand A, Glory, Samsung, Voice, VIVO, OPPO, Xiaomi, Anker and Signify, Ledvance, (), Ideal, (), etc. The application terminals constitute a strategic layout covering communication terminals, consumer electronics, industrial and commercial lighting, smart home, automotive electronics, industrial control and other fields.

The company’s core R&D team has profound experience in analog and digital-analog mixed integrated circuit design and process development, and the company has hundreds of core independent intellectual property rights of high voltage, high current and high power analog power management and digital circuit design at home and abroad. The high-pressure integrated process design platform independently developed by the company can be customized according to different products and customer needs, laying a unique and differentiated advantage for continuous product upgrading and iteration.

The company’s "power management+signal chain" dual-drive product system and "mobile phone+car" multi-domain integrated application layout are shown as follows:

1. Signal chain optical sensor

Optical sensors use the characteristics of light and the interaction with substances to convert optical signals (infrared, visible and ultraviolet radiation) into electrical signals, and complete information transmission, processing, storage, display and recording.

2. Power management chip

The company’s power management products mainly include mixed digital-analog SoC chips, such as wireless charging receiver and transmitter chips, and analog power management chips, such as wired charging series chips and lighting driver chips.

3. Automotive electronic chips

(II) Main business models

The company adopts Fabess mode, which is typical of the integrated circuit industry, and focuses on the design and sales of integrated circuit chips. The production mainly adopts entrusted processing mode. With the development trend of increasingly complex integrated circuit product structure, Fabess model can realize the precise investment of technology and capital resources from all parties, and has gradually become the mainstream of the industry.

Since its establishment, the company has always adopted the business model of Fabess.

Business model of integrated circuit industry:

1. R&D mode

Under the Fabess business model, product design and research and development are the core of the company’s business. Product R&D is strictly controlled according to the process specified by the company. The specific R&D process includes four stages: project establishment, design, verification and pre-production, which are completed through the cooperation of marketing department, R&D department, operation department and quality department.

(1) Project establishment stage

The marketing department initially puts forward the development demand of new products, and makes feasibility analysis on the basic demand, target application market, market competitiveness and project cost of the project. At the project initiation meeting, the marketing department, R&D department, operation department, quality department, etc. conduct risk analysis on this product and give the final review results. After the review, the project was formally established.

(2) R&D design stage

After the project is approved, the R&D department will write the engineering R&D documents according to the requirements, plan the design scheme and electrical performance indicators in detail, and decompose the design scheme into various sub-modules that can be realized by designers. Detailed design is divided into three main stages: draft design, design verification and simulation, and layout design. After the design of each module of the product is completed, it will be integrated and audited to ensure that the product performance is consistent with the specification documents. After the design work is completed, the product development department will organize a review meeting, and the sample can be manufactured after it is passed.

(3) chip verification stage

After the design stage is over, the operation department will issue instructions for the production and sealing test of engineering samples to the wafer factory and the sealing test factory. After the production of engineering samples is completed, the R&D Department and the Quality Department will test and verify the function and performance and reliability of the products based on different application scenarios. The sample can enter the risk mass production stage after passing all the verification links and being reviewed by various departments.

(4) Pre-production stage

After the verification stage, the operation department will arrange the small batch production of the products, and the R&D department will collect the analysis data in the sealing and testing factory to optimize the testing method and form the specific requirements for mass production control to ensure the producibility of the products. The new product will enter the mass production process after it has passed the pre-production and has been reviewed by various departments.

2. Purchasing and production mode

In Fabess mode, the company mainly carries out research and development, sales and quality control of chip products, while the production of products is completed by outsourcing mode. Specifically, the company will provide the integrated circuit layout developed and designed to the wafer foundry, which will customize and process wafers, and the packaging and testing factory will provide packaging and testing services. In view of the above procurement and production mode, the company has formulated perfect systems such as Procurement and Supplier Control Procedure, Supplier and OEM Management Procedure and Warehouse Management Procedure.

3. Marketing model

Combined with the practice of integrated circuit industry and the characteristics of the company itself, the company adopts the sales model of "distribution is the main, supplemented by direct sales", that is, the company mainly sells products to end customers through distributors, supplemented by direct sales to some important end customers. Under the distribution mode, the company and the dealer carry out buyout sales; In the direct selling mode, the company sells its products directly to the end customers. The company has formulated Sales Management System, Contract Evaluation Control Procedure, Sales Control Procedure and Customer Credit Management Procedure to effectively manage and standardize the sales process.

4. Management mode

The company grasps the principle of "quality is the life of the enterprise" and takes "quality is the eternal theme" as the guide, and is committed to continuously improving quality, providing products that customers are satisfied with and enhancing customer satisfaction. At present, the company has established a perfect quality control system, which runs through the complete chain of design, production and customer service, and grasps the quality control of the whole product life cycle.

Quality system management: the company’s quality system covers the whole business process of the company, and has established perfect process documents and management systems in the three modules of the company’s R&D quality management, production quality management and customer quality management.

R&D quality assurance: The company adheres to the quality management concept of "excellent quality begins with design", and applies quality control methods to all links of product R&D process, and DQE(DesignQuaityEngineering) participates in the control. Relying on the IT system as the carrier, the PLM(ProductLifeManagement) system which conforms to the relevant links of R&D and design is constructed, and a life-cycle quality management system with company characteristics is formed.

Production quality assurance: the company has established a complete supplier development and management system, and the introduction of new suppliers can only start cooperation after passing the joint audit of procurement, quality and other departments. Relying on the IT system, the company has built a YMS(YiedManagementSystem) system to monitor the yield dynamically and give an alarm if it exceeds the standard.

Customer quality assurance: the company has established a "trinity" service system to provide customers with complete, fast, professional and convenient product quality services. The company has passed the ISO9001 certification, and gradually established the AEC-Q100 certification system in the field of automotive electronics.

(3) the industry situation

1. The development stage, basic characteristics and main technical threshold of the industry.

(1) Industry

The company’s main business is the research and development and sales of high-performance analog and digital-analog mixed chips. According to the National Economic Industry Classification 2017 (GB/T4754—2017), the company’s industry is "C39 computer, communication and other electronic equipment manufacturing"; According to the Classification of Strategic Emerging Industries (2018), the company’s industry is "integrated circuit design". According to the Guiding Catalogue of Key Products and Services of Strategic Emerging Industries (2016 Edition), the company’s industry is "integrated circuit".

As the foundation of the global information industry, the integrated circuit industry is the cornerstone of the world’s electronic information technology innovation. Many epoch-making innovative applications, such as personal computers, Internet, smart phones, cloud computing, big data, artificial intelligence and so on, have been derived from the integrated circuit industry, which has become an indispensable part of modern daily life. After the era of mobile internet, the rapid development and technical iteration of application fields such as 5G, cloud computing, AI computing, high-performance computing and smart cars are pushing the integrated circuit industry into a new growth cycle.

(2) General situation of industry development

1) Overview of integrated circuit development

① Development of global semiconductor market

The global semiconductor industry is welcoming a recovery. Affected by the ups and downs of the global economy and the international situation, the semiconductor industry has fluctuated obviously recently. However, with the innovation of emerging applications and continuous technological innovation, the current industry fundamentals have been basically completed. Since 2023, terminal demand has shown some signs of recovery. According to the latest report of Gartner, a market research organization, the annual growth rate of global semiconductor market revenue will narrow sharply in 2022, from the previous growth of 27.1% to 0.2%, and it is expected to decline further by 10.9% in 2023, but it is expected to increase by 16.8% to $624 billion in 2024 and by 15.5% to $721 billion in 2025. And IDC, the international data information, also raised its outlook on the semiconductor market, believing that the semiconductor market will bottom out and resume accelerated growth in 2024.

In the long run, the trend of electrification and intelligence has been established. With the explosive growth of global demand for artificial intelligence and high-performance computing, and the rebound of demand for smart phones, personal computers, servers and automobiles, the semiconductor industry will usher in a new wave of growth. Generally speaking, the long-term prospects for the development of the global semiconductor industry are optimistic.

② Development of China’s semiconductor industry

In recent years, with the rapid development of China’s economy, China has become one of the largest semiconductor markets and manufacturing bases in the world, and the demand for derived integrated circuit products is increasing day by day. According to Market Report 2023 issued by SIA, Asia-Pacific region is the largest regional semiconductor market, and China is still the largest single country market. So far, the largest national market in the Asia-Pacific region is China, accounting for 55% of the Asia-Pacific market and 31% of the global market.

China’s semiconductor industry has great development space. According to the data of China Semiconductor Industry Association, China’s semiconductor self-sufficiency rate has increased from 5% in 2018 to 17% in 2022, and only 26% in 2023. This is an opportunity and a challenge for China’s semiconductor development. China’s semiconductor enterprises need to continuously strengthen independent innovation, improve self-sufficiency rate, narrow the technological gap and realize the high-quality development of China’s semiconductor industry.

2) development of analog integrated circuits

Analog chips are responsible for processing continuous analog signals, which can convert all kinds of light, sound, images, radio and so on in the real world into electrical signals. They are very important in electronic systems and are indispensable chips in consumer electronics, automobiles, communications, industrial control and other electronic products. The analog chip industry has a long development history and a long product life cycle. From the perspective of global market structure, overseas manufacturers have obvious first-Mover advantages in technology patents, R&D team size, material number and product mix. The analog chip does not depend on the advanced manufacturing process, with long product life cycle, small price fluctuation, high requirements for stability and cost, and relatively little influence from the semiconductor industry of overseas countries. It is a track with long slopes and thick snow.

Analog chips can be divided into power management chips and signal chain chips according to their general functions, which have the characteristics of long product life cycle, stable industry growth and high technical barriers. The wave of electrification and intelligence of automobiles and the new demand for energy saving and consumption reduction of industrial energy will trigger the iteration of analog chips. Based on the characteristics of a wide range of terminal applications, the analog chip market is not easily affected by changes in the prosperity of a single industry, and the market fluctuation range is relatively small. According to Frost&Suivan data, it is estimated that the global analog chip market will grow to 69.7 billion US dollars by 2025, and the compound annual growth rate will be about 4% from 2020 to 2025.

As the largest market for analog chips in the world, the self-sufficiency rate of analog chips in China has been improved in recent years, but it is still low, and there is a broad space for domestic substitution. Driven by the dual logic of high downstream demand and domestic substitution, domestic analog chip manufacturers are expected to grow at a high speed, and at the same time, they have also expanded to high-end fields such as automobiles, and many manufacturers have made progress in automotive analog chips.

3) The development of the industry in which the company’s products are located.

① signal chain optical sensor chip

Signal chain analog chip is a bridge connecting the physical world and the digital world, which is responsible for receiving, transmitting, converting, amplifying and filtering analog signals, and is widely used in communication, electronics, automobiles, artificial intelligence, medical care and other fields. Benefiting from a high degree of market standardization, a long life cycle and a wide range of application scenarios, the global signal chain analog chip market demand is rising, and the industry has a good development prospect. According to ICInsights data, the global market size of signal chain analog chips increased from $8.4 billion in 2016 to $11.8 billion in 2023, with an average compound annual growth rate of 4.96%.

Optical sensors can be widely used in smart wearable devices, intelligent industries, intelligent transportation, smart power grids and other fields. According to Research&Markets data and forecasts, the global optical sensor market scale will be 2.58 billion US dollars in 2022, and it is expected to reach 4.25 billion US dollars in 2027, with a CAGR of 10.5%. According to QYResearch data and forecasts, In 2022, the global integrated proximity and ambient light sensor market reached 282 million US dollars, and it is expected to reach 419 million US dollars in 2029, with a CAGR of 6.3%(2023-2029).

In its market structure, the automotive electronics field is still dominated by Europe and the United States, and some Taiwanese manufacturers in the electronic consumer market occupy a certain share. With the increase of downstream demand and the improvement of industry attention, domestic companies are also actively deploying high-end sensors. As the forward-looking layout of the company, many self-developed products have been mass-produced and shipped in the field of consumer electronics. With abundant product reserves, the company can seize new market opportunities in time.

② Power management chip

Power management chip plays a key role in electronic information products and has a wide range of product applications. Power management chips are widely used in mobile phones and communications, consumer electronics, industrial control, medical instruments, automotive electronics and other application fields. At the same time, with the development of emerging application fields such as Internet of Things, new energy, artificial intelligence and robots, the downstream market of power management chips is expected to continue to develop. According to TMR, an international market research organization, the global market size of power management chips will reach 56.5 billion US dollars by 2026, and the compound annual growth rate will reach 10.7% from 2018 to 2026. With the application expansion and import substitution of domestic power management chips in new fields, it is expected that the market scale of domestic power management chips will grow at a faster speed. According to Frost&Suivan data, it is estimated that the market size of power management chips in China will reach $23.5 billion in 2025, with a compound annual growth rate of 16% from 2022 to 2025.

Among them, in terms of wireless charging, according to the data of Strategyanaytics, in 2021, the global shipments of wireless charging receiving devices supporting WPC-Qi standards reached 515 million units, and the shipments of transmitting devices reached 197 million units. The overall shipments of wireless charging devices increased by nearly 30% compared with 2020. It is estimated that by 2025, the compound growth rate of wireless charging equipment shipments will remain above 24%, of which the compound growth rate of wireless charging receiver equipment shipments will reach 25.5%, and the compound growth rate of wireless charging transmitter equipment shipments will reach 22.9%.

In the field of lighting, with the continuous entry of LED lighting into new application scenarios, the market scale of LED driving power supply will continue to expand. According to Frost&Suivan data, it is estimated that the market scale of LED lighting in China will increase from 681.3 billion yuan in 2022 to 738.6 billion yuan in 2026, with a compound annual growth rate of 2.0%.

In terms of smart homes, the future ecological improvement will bring sustainable development momentum to the smart home market. According to the data of Aowei Cloud, the household penetration rate of global smart homes will reach 14.2% in 2022, and it is expected to increase to 25.0% in 2026, and the market scale will increase to 1.4 trillion yuan. According to the forecast of International Data Corporation (IDC), the global shipments of smart homes and wearable devices will both continue to grow, and are expected to reach 1.23 billion and 644.5 million respectively by 2027.

③ Automotive electronic chip

Automobile chip, that is, "car-level chip", refers to an integrated circuit that meets the requirements of automobile quality management system, reliability and functional safety. Compared with consumer and industrial chips, automotive chips have the characteristics of harsh working environment, high safety level, long service life, higher requirements for process maturity and reliability, so they have high entry threshold, high technical difficulty and long investment return period.

The electrification and intelligence of automobiles constitute the power source for the growth of automobile semiconductors. According to the data released by Haisi at the 2021 China Automotive Semiconductor Industry Conference, it is estimated that the total automotive semiconductor market will be close to 100 billion US dollars in 2027. As a big automobile manufacturing country, China also has a strong demand for automotive semiconductors. It is estimated that the total market will reach 13.7 billion US dollars by 2025. The global sales of new energy vehicles are growing at a high speed, which supports the steady increase of demand for automotive analog chips. In all levels of cars from A to E, electrification has greatly increased the demand for bicycle analog chips. According to the statistics of ICInsights, the global shipment of automotive chips reached 52.4 billion pieces in 2021, up 30% year-on-year. It is estimated that the global demand for automotive chips will exceed 100 billion pieces by 2030.

Judging from the global market competition pattern, international manufacturers occupy a leading position in the field of automotive grade semiconductors, and the localization rate of automotive grade semiconductors is low. At present, China’s automobile chips have achieved a breakthrough from 0 to 1 in most fields, but the problems of weak industrial base, few product categories and poor chip performance have not been completely solved, and the core technology is still stuck and can enter the deep water area independently and controllably. Driven by the sales growth of new energy vehicles and the increase in the number of bicycle chips, the automobile chip market shows a rapid growth trend, which brings brand-new industrial opportunities for domestic chip companies to enter the automobile field.

In automotive chips, the company’s business has focused on the fields of power chips, communication chips, sensor chips and driver chips, focusing on products such as car wireless charging chips, CANSBC chips, automotive lighting chips, rainfall/brightness sensors, etc., and will continue to focus on research and development, closely combine with market demand, actively expand the product matrix, and achieve more scenes and more customer coverage.

(3) Industry characteristics and technical threshold

Integrated circuit design industry is located in the upstream link of integrated circuit industry chain, which belongs to technology-intensive, knowledge-intensive and capital-intensive industries. The integrated circuit industry has the characteristics of high investment, long cycle and high technical threshold. Based on the characteristics of its industry, it also has a high entry threshold and belongs to a high barrier industry.

The first is the technical strength barrier. The integrated circuit design industry involves many disciplines and needs complex, advanced and cutting-edge science and technology to support its development. Industrial products are highly complex and professional, and the speed of upgrading and technical iteration is fast. It needs profound technology and experience accumulation, continuous innovation ability and forward-looking product definition and planning to continuously meet the market demand from the technical level. Newcomers in the industry often need to go through a long period of technical exploration and accumulation in order to compete with enterprises that have already occupied technological advantages in the industry, so technical barriers are obvious.

The second is the talent barrier. Most mainstream integrated circuit design enterprises have excellent R&D capabilities and master the core technologies in their fields. The industrial products are highly complex and professional, and there are high requirements for the number and professional level of innovative talents in circuit design and software development. At the same time, IC R&D talents themselves have the characteristics of long training period, and the supply of talents is difficult to meet the needs of employers for a long time, which in turn leads to fierce talent competition among enterprises. Due to the short development time of domestic industry, compared with the United States, South Korea and other countries, high-end and professional talents are relatively scarce in this field. For new enterprises, how to solve the talent supply will be a difficult problem.

The third is the financial strength barrier. In the early stage of integrated circuit industry, huge R&D funds need to be injected, which has a high entry threshold. The iteration of technology upgrading is cultivated by the continuous huge R&D investment. As the integrated circuit industry enters a higher process cycle, the process difficulty is increasing, the development difficulty is increasing, the required investment amount is also increasing, and the payback period is lengthened, so the capital barrier is also obvious.

2. Analysis of the industry position of the company and its changes.

The company focuses on the R&D and sales of high-performance analog and digital-analog hybrid chips, and has a highly integrated technology core with interdisciplinary and multi-field integration. It has put forward the innovation of technical architecture in many fields and led the technical trend of the industry, and cultivated the "power management+signal chain" dual-drive product ecosystem. While promoting the localization and serialization of high-integration optical sensors, the company cooperates with well-known domestic automobile enterprises to accelerate the R&D and landing of multiple product lines of automotive electronics. Finally, the strategic layout of application scenarios covering communication terminals, consumer electronics, industrial and commercial lighting, smart home, automotive electronics and other fields was formed, and it developed into one of the rare design companies in China to develop high-barrier and high-moat products in sub-sectors and be able to benchmark international chip leading enterprises.

(1) One of the few chip design companies in the industry with system-level innovative thinking and multi-disciplinary high integration technology core.

The company has a highly integrated technology core with interdisciplinary and multi-field integration, and has put forward the innovation of technical architecture through innovative system-level thinking ability in many fields, thus leading the industry design trend and maintaining the leading edge. At the same time, the company’s highly forward-looking market positioning ability has laid a solid foundation for the continuous research and development of high-barrier, high-moat technology products.

In the exploration of the change of chip technology architecture, the company creatively introduced high-power RX+4:2 charge pump dual-chip architecture, single-stage high-power factor architecture and constant current algorithm, and PWM-to-analog intelligent dimming scheme, covering multiple levels from analog chip development to digital-analog mixing, redefining the "power management+signal chain" dual-drive product ecosystem with company characteristics. We will carry out sustainable technological innovation for a wider range of customer groups and application fields, and in the research and development of key chips with complex architecture and broad domestic substitution space, such as CANSBC chips and high integrated optical sensors, we will rely on highly integrated technical cores to accelerate the domestic substitution process of such key chips.

(2) Deepen the subdivision to achieve international leadership and help the new process of domestic substitution.

After years of continuous efforts, the company insists on creating a moat of differentiated competition through innovation. The company’s products have reached the international advanced level in many sub-fields, and have industry-leading original technology and a number of world-first fist products, such as the world’s first 30W/50W/100W wireless charging RTX chip and the first domestic optical displacement sensor with integrated rotation and key detection for smart watches. Especially in the field of digital-analog mixed SoC wireless charging chips and optical sensors, the key technical indicators of some core products have reached or surpassed the performance of similar international products.

According to the market demand, the company has continuously expanded its product matrix and customer base, built a "mobile phone+car" platform, and opened up the whole product application field, which can provide customers with multi-level and all-round one-stop solutions and realize the strategic layout of multi-field integration. With strong technical strength, reliable product quality and fast and effective customer service, the company’s products have entered the supply chain system of many well-known manufacturers. The terminal products cover brand A, Glory, Samsung, Voice, VIVO, OPPO, Xiaomi, Anker and Signify, Ledvance, Foshan Lighting, Ideality, BYD and other well-known brands, and the application scope covers many application scenarios in consumer electronics, automotive electronics and industrial fields.

(3) Excellent comprehensive competitiveness, and won a number of industry recognition.

By December 31st, 2023, the company had obtained 150 intellectual property rights authorized at home and abroad, including 3 foreign invention patents and 147 domestic authorized intellectual property rights (including 52 invention patents). The company has successively obtained the qualifications of national high-tech enterprises, integrated circuit design enterprises of the Ministry of Industry and Information Technology, national specialized and innovative "Little Giant" enterprises, Beijing specialized and innovative "Little Giant" enterprises, Beijing Municipal Enterprise Technology Center, Beijing Science and Technology Award, and Beijing Advanced Industrial Design Center, and was selected as the top ten power supply/power device chip design companies in China by the authoritative media "EETimes". The wireless charging chip products independently developed by the company entered the first (set) catalogue of major technical equipment in Beijing, and won many honorary awards such as "China Core" excellent technological innovation products and new technologies and new products in Beijing.

In the future, the company will continue to adhere to the business philosophy of "initiative, ambition, Excellence, innovation and competitiveness", continue to deepen the technical fields of mixed digital and analog power management, signal chain, automotive electronics and so on, enhance the comprehensive competitiveness and sustainable development ability of enterprises, and strive to become a world-class integrated circuit design company.

3. The development of new technologies, (), new formats and new models during the reporting period and the future development trend.

(1) Development of new technologies

1) The diversity of downstream demand promotes the development of highly integrated chip technology.

The continuous shrinking of the key dimensions of integrated circuits and the continuous enhancement of the function and performance of a single chip have always been the development direction of the semiconductor industry. With the lightweight requirements of terminal products and the complexity of application scenarios, integrated circuit products need more compact volume and fewer peripheral devices to meet the market demand while maintaining stable functions. The integration of the chip is constantly improving, mainly because its feature size is constantly shrinking, and at the same time, it can realize the compatibility of multiple functions. In the future, the decrease in the number of components inside the chip will make its heat dissipation problem more prominent. By reducing the package size or integrating modules with different functions, integrated circuits can effectively save the size space and provide more functions. Therefore, in the field of integrated circuits, miniaturization and high integration have become a technological wave that cannot be ignored.

2) The integrated circuit technology brings forth the old and brings forth the new, and the self-developed high-voltage BCD technology becomes a trend.

With the continuous evolution of Moore’s Law, the future development trend of the integrated circuit industry will be in the direction of improving technology, increasing the proportion of output value of the integrated circuit design industry, miniaturization, integration, high integration, high efficiency and low power consumption of integrated circuit products, and the manufacturing technology and device microstructure will have more and more influence on key indicators such as chip speed, reliability, power consumption and area. It will gradually become a new trend and an important competitive advantage for integrated circuit design enterprises to have the ability to develop BCD process and device process, so that they can develop unique integrated circuit products without relying solely on the standard process provided by the wafer foundry. The design and manufacturing links deepen industrial linkage, and the two sides share R&D capabilities and integrate technical resources. While improving the reliability of chip products, it can reduce the time cost of process docking, ensure that the products of design companies can adapt to the development trend of high integration and high reliability, and further enhance their competitiveness in the field of general products.

3) Continuation of Moore and Extension of Moore will become the future technology development trend.

Moore’s Law predicts that the density of chips will double every two years, while the price will drop by half, which is caused by the continuous improvement of integrated circuit manufacturing technology. However, with the shrinking size of integrated circuits, technical bottlenecks are restricting the development of technology, and the cost is also increasing. At present, Moore’s law is approaching the limit, and continuing Moore and expanding Moore have become two major development directions that are easier to achieve breakthroughs. Continuous Moore refers to the combination of electronic components with different functions into a chip by changing the structure and layout of related devices; Extended Moore refers to the purpose of improving the function of chips by assembling, splicing and packaging chips and components with different functions. In the medium and long term, the continuous mole represented by small-scale system chip (SoC) and the extended mole represented by system-in-package (SiP) will be the future development trends of the integrated circuit industry.

(2) the development of new industries.

Technological innovation brings market changes, and the expansion of application fields brings market opportunities. With the continuous innovation of integrated circuit technology, multi-frequency resonance drives IC market growth in emerging fields such as new energy vehicles, 5G and Internet of Things.

1) The rapid penetration of new energy vehicles has increased the value of analog chips.

With the acceleration of automobile electrification, the increase of automobile interconnection and the gradual landing of automatic driving, more new demands for analog chips have been born. Automotive chips require high reliability, safety and consistency, and need to pass AEC-Q100 and ISO26262 certification. Analog chips are used in almost all automotive electronic components, except traditional automotive electronics such as car entertainment, dashboard, body electronics and LED power management, and are also widely used in power systems of new energy vehicles, intelligent cockpit systems of smart cars and automatic driving systems.

Thanks to the establishment and gradual popularization of new scenes such as the "three-in-one" of automobiles and wireless charging in vehicles, more and more electronic components such as sensors, power semiconductors and motors are loaded inside automobiles, and more power management chips are needed for current-voltage conversion, which has greatly increased the demand for power management chips and signal chain chips, thus driving the continuous growth of the proportion of vehicle-level analog chips in automobile chips.

In recent years, the product layout of international analog chip giants has tilted to the industrial and automotive fields, and has occupied a dominant position in the automotive-grade semiconductor field, and China’s import dependence is strong. Driven by the sales growth of new energy vehicles and the increase in the number of bicycle chips, the automobile chip market shows a rapid growth trend, which brings brand-new industrial opportunities for domestic chip companies to enter the automobile field and differentiate competition. At present, domestic analog chip listed companies with strong competitiveness have also expanded into high-end fields such as automobiles, and gradually made progress in automotive analog chips.

2) Upgrading the functions of 2)5G communication and AI mobile phones will drive the growth of the mixed-signal chip industry.

The wide application of 5G promotes the iterative upgrade of digital-analog hybrid chips in communication field. Whether it is a smart phone or a base station, a complete 5G communication system includes iterative upgrades of various analog and digital-analog mixed chips from signal chain to power chain.

Modern smart phones have gone beyond simple communication equipment and evolved into a portable intelligent media center that integrates multiple modules and functions. It not only provides basic communication services, but also realizes intelligent induction and efficient processing of external complex environment and instructions by equipped with supporting hardware such as high-performance SoC, a series of precision sensors and efficient power management chips, and also ensures lasting endurance. The realization and upgrading of these functions have driven the strong demand of the mobile phone chip market. In addition, new trends such as folding screen mobile phones and AI mobile phones have sprung up in the smart phone market, and the sales volume has continued to increase. The replacement boom can not only promote the development of terminal brands, but also bring new replacement needs to the upstream supply chain.

Global giants are actively deploying AI mobile phones, which will stimulate a new wave of machine change. Since Google launched Pixe8 with built-in AI model in October 2023, global mobile phone companies have accelerated the layout of AI phones. In November 2023, VIVO released the X100 series of AI mobile phones, with a built-in blue heart model with 7 billion parameters. In January 2024, OPPO and Glory successively released AI mobile phones. At the same time, Samsung released the GaaxyS24 series of AI mobile phones in January, and the underlying AI function was based on the Gemini of Googe. The sales volume of this mobile phone exceeded 1 million units only 28 days after it was launched in Korea, and the sales volume of S series was the fastest to break the million record. In addition, in February 2024, Meizu released the AI ​ ​ mobile phone 21PRO. Apple also gave up building cars and actively deployed AI products. Cook said that Apple is investing a lot of money in the field of generative AI.

In addition to chips and storage products related to core computing power, lightweight products such as sensors also need to be upgraded to enhance the entrance capability of the AI side. At the same time, with the upgrading of 5G communication technology and the increasing functional complexity of smart phones, the functional modules of mobile phones put forward higher requirements for the performance and quantity of power management chips of mobile terminals, and supporting components such as charging modules also need to be optimized and innovated simultaneously to meet the ultra-high performance of mobile phones.

AI mobile phones promote comprehensive innovation and upgrading of hardware, and the price and quantity of core hardware are rising, which are included in key devices such as computing, storage, wireless communication, thermal shielding, PCB, battery and power management chip. According to the White Paper on AI Mobile Phone in 2024, the global shipment of a new generation of AI mobile phones will reach 170 million units in 2024. In China market, AI shipments are particularly strong. It is estimated that domestic shipments will reach 40 million units in 2024 and 150 million units in 2027. In particular, the flagship model will become an important growth driver in the early stage of the development of a new generation of AI mobile phones.

3) Everything becomes a trend, and the number of AIoT terminals develops rapidly.

With the outbreak of large-scale models in 2023, the penetration, integration and application iteration speed of global artificial intelligence technology to traditional industries have been greatly improved. At the same time, 5G-A is about to be commercialized, 6G key core technology research and standard development are started, and Web3 and DePIN are emerging, and the global interest and enthusiasm for it are impressive. The AIoT industry has a clear development path and huge growth space, and it is expected that smart interconnection application scenarios such as smart industries, new energy vehicles, smart cities and smart homes will break out one after another. The explosion of smart interconnection applications will further boost the consumption of related chips such as sensing chips and SoC digital-analog hybrid chips.

In AIoT technology, the relationship between artificial intelligence and the Internet of Things is just like the brain and senses of the human body, which use the senses to collect the surrounding information and then convey it to the brain to react. Therefore, the combination of artificial intelligence and the Internet of Things can achieve higher efficiency, strengthen data management and analysis, and improve the interaction between humans and machines. The four cores of AIoT are SoC, MCU, Wifi/ Bluetooth chip and sensor, among which SoC is responsible for intelligence, MCU is responsible for control, WiFi/ Bluetooth chip is responsible for communication and sensor is responsible for perception.

In the AIoT scenario, the main application fields of SoC include smart home and smart city. After years of development, the smart home industry is currently in the transition stage from single product intelligence to whole house intelligence, and there are many internal subdivision tracks, including smart door locks, smart home appliances, smart lighting, smart security and platform layers. Small household appliances in smart home appliances have great potential for diversified innovation and penetration improvement, and the base volume is large, which has broad future development prospects; Intelligent lighting system is based on the laws of nature and human health. With people’s continuous attention to health and the deepening of intelligent lighting understanding, the industry is expected to change rapidly and move towards a new level of development.

In the AIoT scenario, the demand for sensor chips has increased significantly. Taking smart homes, smart industries and smart driving as examples, smart homes collect users’ life data through sensors in order to provide "intelligent and personalized" services, such as automatically adjusting indoor temperature and humidity according to users’ living habits and automatically cleaning rooms. From the perspective of subdivided scenes, the demand for domestic smart speakers and smart TVs has accelerated, and the consumption of sensing chips such as optical sensors has greatly increased. A new generation of smart sensors is generally regarded as the "heart" of smart industry by the industry. The assembly and production of smart sensor products can be automated, which reduces labor costs and greatly improves production efficiency. It is one of the important components to realize intelligent manufacturing.

The gradual explosion of intelligent interconnection applications has led to a great increase in the demand for analog chips. Similarly, import substitution for key links in the Internet of Things industry chain is a just-needed market. Taking smart wear as an example, its high-end market is still dominated by European and American giants, and its products involve optical sensors and voice acceleration sensors. At present, domestic analog chip manufacturers have gradually broken through the product types and quality, and continue to exert their efforts in product introduction and customer verification, and their strength is constantly growing. They are expected to make further breakthroughs in products, technologies, customers and market share, and accelerate the localization process of analog chips.

(IV) Core technologies and R&D progress

1. Core technologies and their advanced features and changes during the reporting period.

After years of accumulation, the company has formed a number of core technologies with strong market pertinence and great application value, which laid a technical foundation for the company’s product development. The company’s R&D investment focuses on core technologies and related products, and the core technologies are mainly from independent research and development, and many core technologies are at the international or domestic advanced level.

During the reporting period, the company added 10 core technologies, namely, high-integration miniaturized wireless charging management chip technology, ultra-low power consumption technology in SoC, stroboscopic SCR dimming technology, compensation loop power supply technology, realization methods of new European standard and new national standard circuits, wide dynamic range ambient light detection technology, low-power high-precision proximity detection technology and low-voltage signal identification technology.

2. R&D achievements obtained during the reporting period

By December 31st, 2023, the company had been granted 3 international invention patents, 52 domestic invention patents, 84 utility model patents and 11 exclusive rights in layout design of integrated circuits. During the reporting period (January 1, 2023 to December 31, 2023), the company applied for 54 new intellectual property projects (including 30 invention patents) and obtained 29 new authorized patents.

3. R&D investment table

Reasons for significant changes in total R&D investment compared with the previous year

During the reporting period, the company attached great importance to the construction and expansion of R&D talent team, accelerated the expansion of new product lines, increased R&D investment in new product development, and increased the cost of new product development materials, testing experiments and other expenses.

4. Research projects

5. R&D personnel

The reasons for the great changes in the composition of R&D personnel and its influence on the future development of the company.

Mainly due to the company’s accelerated expansion of new product lines during the reporting period. The newly-added R&D designers mainly invest in optical sensors and automotive electronic products. In addition, with the increase of customers in wireless charging product line, R&D personnel in positions such as software and hardware engineers have been supplemented.

6. Other explanations

Iii. Analysis of core competitiveness during the reporting period

(A) analysis of core competitiveness

1. Innovative system-level thinking ability and highly integrated technology core of multidisciplinary integration.

The company has realized the innovation of technical architecture through innovative system-level thinking ability in many fields. While leading the design trend in the industry, the company maintains its leading edge in the above fields. In the field of wireless charging, the company creatively introduced the high-power RX+4:2 charge pump dual-chip architecture, which effectively improved the system efficiency and reliability of wireless charging without changing the coil structure and output current capacity, and also provided the technical possibility for wireless charging power to reach and exceed 30W. In the field of LED general driving, the company pioneered a single-stage high power factor architecture and constant current algorithm to replace the traditional two-stage architecture, which became a popular topological architecture suitable for large wattage industrial and commercial lighting in the LED field. In the field of LED intelligent lighting, the company pioneered the scheme of converting PWM signal into analog signal to realize analog adjustment of LED brightness. This scheme effectively solved the stroboscopic and noise problems caused by direct PWM dimming in the past, and led the innovative change of dimming architecture in the field of intelligent lighting.

The company has a highly integrated technology core with interdisciplinary and multi-field integration, and has a highly forward-looking market positioning ability, which has laid a solid foundation for the company to continuously develop products with high barriers and strong core competitiveness. In the field of mixed digital and analog power management, the company integrates analog power supply, digital design, embedded software and other multidisciplinary technologies to launch a series of wireless charging chips with high integration of MCU digital control SoC power supply. In the field of signal chain, the company chose the highly integrated optical sensing field as the entry point, and launched sensor products integrating optics, laser, technology and digital-analog mixed SoC. In the field of automotive electronics, the company focuses on the research and development of key chips with complex architecture and broad domestic substitution space, such as the CANSBC chip which is currently under research and integrates CAN transceiver, system mode and fail-safe function control and power management functions. The company relies on the highly integrated technology kernel to accelerate the domestic substitution process of such key chips.

2. "Power management+signal chain" dual-drive products and "mobile phone+car" dual-platform strategy

Since its establishment, Meixinsheng has gone through several important stages in product route and strategy, from pure analog power products represented by LED drive at the beginning of its establishment to digital-analog hybrid power products represented by wireless charging. In this interval, the company is committed to improving the high-voltage and high-current power management product system, creating representative chips with international leading advantages and establishing in-depth cooperation with well-known mobile phone brands. Since 2021, the company has expanded its product strategy to another field of analog chips-signal chain, and selected optical sensor products with high integration and cross-domain integration as the starting point. The company quickly set up a signal chain R&D team, vigorously laid out the product line, and relied on the comprehensive strength of the highly integrated technology core and process platform with multi-disciplinary integration. Facing the same smart phone customer group, the signal chain product line made rapid progress, and customized the urgently needed domestic alternative light sensing chips and solutions for customers, enriching the product matrix and enhancing customer stickiness.

At the same time, with the rapid penetration of the application of new energy vehicles, domestic new car companies have risen rapidly, which not only greatly improves the scale of chip use, but also provides an opportunity for domestic chip design companies to substitute domestically. In the field of automotive electronics, the product reliability requirements are higher than those in the field of consumption, and the verification cycle time is long. However, the selection of suppliers in the mobile phone platform is relatively strict, and the product reliability level reaches the industrial level. Therefore, relying on the quality system and delivery ability honed in the mobile phone client, the company is committed to expanding the application business field from the existing mobile phone client platform to the automobile client platform, continuing to consolidate the dual-drive product strategy of "power management+signal chain" and developing leading technical products in the industry.

3. Frontier talent team and solid intellectual property barriers

The core members of the company’s R&D team have accumulated more than 20 years of research and development experience in the world’s leading chips, power devices, system architecture, firmware and optical technology. By the end of the reporting period, the company had 168 on-the-job R&D personnel, accounting for 62.92% of all employees. Through the organic combination of equity incentive and salary incentive, the company relies on a perfect training system and promotion mechanism to improve employees’ sense of identity with enterprise development, enhance their sense of belonging and responsibility, and realize the cohesion and stability of the talent team. At the same time, it provides broad space and opportunities for employees’ career development and contributes to the long-term development of the company.

The company attaches great importance to R&D investment, and has formed hundreds of core independent intellectual property rights around the technical fields of high voltage, high current, high integrated digital-analog hybrid power management and high voltage integrated technology. By the end of the reporting period, the company had applied for 254 patents and obtained 150 patents, including 3 international invention patents, 52 domestic invention patents, 84 utility model patents and 11 exclusive rights in layout design of integrated circuits. The company has built core technologies and intellectual property systems in the fields of wireless charging chips, signal chain optical sensor chips and analog power supply chips, and established solid intellectual property barriers through continuous technological innovation and technology accumulation.

4. Rich application fields and strong customer resource system.

With excellent R&D talent team, mature and advanced quality control system and deep technical accumulation in the field of analog and digital-analog mixed chips, the company provides downstream customers with more than 700 kinds of product selection, covering communication terminals, consumer electronics, lighting applications, smart homes, household appliances, automotive electronics, industrial control and other application fields, with a cumulative shipment of more than 13 billion pieces.

After years of deep cultivation in the industry, the company has established a perfect sales network and established a solid cooperative relationship with many well-known end customers in the industry, realizing the deep integration of the company’s scientific research achievements and market demand. Brand customers’ high recognition of the company’s products has also become an effective endorsement of the company’s technology and product quality, which has enhanced the company’s industry influence and market competitiveness. The company needs to meet the different needs of different brand customers for product technical characteristics, reliability and subsequent upgrade iterations, which also requires the company to continuously improve its R&D technical capabilities and continuously expand the breadth and depth of product definition to meet the technical needs of brand customers. With the in-depth cooperation between the two parties, the company also successfully introduced the supply chain system of mainstream customers, so as to further strengthen product quality management and strategic planning.

Based on the existing customer resource system, the company will continue to deepen the cooperative relationship with terminal brand customers, continuously develop high-performance and diversified power management chips and signal chain chips, and further consolidate its market position in communication terminals, consumer electronics, lighting applications, smart homes, household appliances, automotive electronics, industrial control and other fields.

5. Stable supply chain cooperation and self-developed process development capability.

Supply chain is one of the indispensable links to ensure the stable development of semiconductor and integrated circuit design companies. Based on the independent research and development technology system and the capacity expansion of process development platform, the company strengthened strategic cooperation with domestic head wafer manufacturers and well-known packaging and testing plants in the industry, formed extensive business collaboration, realized the deep integration and optimization of product design and production technology, consolidated the company’s advantages in stabilizing supply chain channels while ensuring the company’s product competitiveness, and effectively reduced the impact of supply chain capacity fluctuation on the company’s daily operations.

In terms of process development, the company is one of the few chip design enterprises in the industry with the ability to develop BCD high-voltage integrated process. The company has established and continuously cultivated its own process R&D team, improved its ability to independently develop processes and develop special devices, and reduced its dependence on standard processes provided by the upstream supply chain, so as to better meet the scene adaptability requirements of product multi-application fields. The 700V-BCD high-voltage integration process, 100V-BCD device process and 90NMBCD process independently developed by the company can promote the integration of supply chain and realize the optimization of chip production cost, greatly enhance the market competitiveness of the company’s products, lay a unique and differentiated advantage for the continuous upgrading iteration of products, and lay a good foundation for the R&D design, sensitivity optimization and anti-noise ability enhancement of signal chain sensor chips.

6. Advanced quality management system and fast and efficient technical support.

The company is committed to continuously improving research and development capabilities and product quality, providing products that satisfy customers and enhancing customer satisfaction. The company has established a perfect quality management system, with IT system as the carrier, and established a PLM system that conforms to the R&D and design links, and has formed a life-cycle quality management with company characteristics in all aspects such as product planning, development, verification, pre-production and mass production. The company establishes a complete supplier development and management system, builds a yield monitoring system, actively promotes the improvement of supplier qualifications, and ensures the controllable and continuous improvement of supplier quality. At the same time, the company continuously promotes localized flexible sales and technical support, and is equipped with corresponding sales, market application and quality service teams in 10 branches around the world, forming a "trinity" service system, providing customers with complete, fast, professional and convenient services, and controlling product quality throughout the complete chain of design, production and customer service, so as to realize effective control of product life cycle quality.

(II) Events that have seriously affected the core competitiveness of the company during the reporting period, impact analysis and countermeasures.

Fourth, risk factors

(A) Not yet profitable risk

(2) Risk of sharp decline in performance or loss

(C) core competitiveness risks

1, product iteration and technological innovation risk

In the IC design industry, product upgrading and technology iteration are fast, and continuous research and development of new products is an important means for the company to maintain its competitive advantage in the market. At present, enterprises in the industry mainly upgrade and iterate the existing technologies according to the changes of market demand and the development of process level, so as to maintain the competitiveness of products. In the future, if the company can’t timely and accurately grasp the market demand and technical trends, break through the technical difficulties, and can’t develop new products with commercial value and meet the market demand, it may have an adverse impact on the company’s competitiveness and sustainable profitability.

2, the risk of high-end brain drain

The IC design industry is an intellectual and technology-intensive industry. High-end and professional talents are the embodiment of the company’s comprehensive competitiveness and the foundation for its sustainable development in the future. After years of development and training, China has a large number of practitioners in the integrated circuit design industry, but compared with the top international integrated circuit design companies, high-end and professional talents are still rare. At present, the company has provided generous salary and incentive measures for outstanding talents. However, with the increasingly fierce competition in the industry, companies in the same industry may still attract technical talents through more generous treatment, or the company may be affected by other factors, resulting in the risk of losing technical personnel. If the company’s professional talents cannot be introduced in time or the existing talent team is lost in the future, it may have an adverse impact on the company’s operation.

3. Risk of core technology leakage

With years of technological innovation, the company has accumulated a series of core technologies independently researched and developed, which cover product development, production and other life cycles, forming the company’s core competitiveness. During the reporting period, the company still has a number of products in the research and development stage, that is, the company continues to explore and form core technologies. The company has taken strict confidentiality measures for the core technology, including but not limited to signing confidentiality agreements with the subject involved in the technology and applying for various types of property rights protection for the technology, so as to ensure the security and confidentiality of the core technology. Nevertheless, in the future, if the company’s core technology is leaked due to personal negligence, work mistakes or external malicious theft, it may adversely affect the company’s core competitiveness, and then affect the company’s operating results and performance.

(4) Operational risks

1. Risk of large R&D investment

The integrated circuit industry is a capital-intensive industry, with short cycle of technology iterative upgrading and high R&D investment cost. In order to ensure the advanced nature of products, integrated circuit design companies must continue to invest a lot in R&D, and only through constant innovation attempts and a certain cost of trial and error can they obtain the crucial achievements in R&D, so the demand for a large amount of R&D funds has formed an industry barrier. With the continuous iterative updating of market demand and the continuous upgrading of product manufacturing technology, if the company can’t continue to make capital investment, or make a correct judgment on the direction of R&D, key technologies can’t be broken through in the R&D process, product performance indicators can’t meet expectations, or the developed products can’t meet the market demand, the company will face the risk of R&D failure, and the previous R&D investment will be difficult to recover, which will adversely affect the company’s product sales and market competitiveness.

2. Management risks brought by the expansion of business scale.

With the rapid development of the company’s business and the continuous expansion of its scale, the company will face certain challenges in terms of external market expansion, industrial chain resource integration, product quality control and internal organizational structure adjustment. The company will continue to build a management system, optimize the communication channels of internal and external information flow, and improve the efficiency of management decision-making, so as to ensure rapid response to the aforementioned challenges and form a stable and excellent coping ability. In the future, if the company’s management mode, management ability and efficiency can’t quickly match the continuous expansion of business scale, it may have an adverse impact on the company’s management and operating performance.

(V) Financial risks

1. Risk of fluctuation of gross profit margin

The gross profit margin of the company’s products is mainly influenced by the development of semiconductor industry, the relationship between market supply and demand, technological advancement, product structure, product update iteration, marketing strategy and other factors. In the future, if the competition in the semiconductor industry is further intensified, the market situation fluctuates greatly, or the company can’t maintain the advanced technology, can’t complete the upgrading of products through continuous research and development, resulting in the decline of product market competitiveness, or the company’s product structure has undergone major changes, resulting in a decline in comprehensive gross profit margin, which may have an impact on the company’s operating results and profitability.

2. Risk of inventory depreciation

With the growth of the company’s business scale, the absolute amount of inventory shows an increasing trend. In the future, if market competition intensifies, market demand changes, or the company can’t effectively expand sales channels, optimize inventory management and reasonably control inventory scale, it will lead to inventory backlog, thus increasing the risk of inventory depreciation, which may adversely affect the company’s operating performance.

3. Risk of exchange rate fluctuation

During the reporting period, the company quoted and settled overseas sales and purchases in foreign currency. With the expansion of the company’s overall business scale, the amount of overseas sales and purchases may further increase. Although the company has carefully considered the exchange rate fluctuations that may be encountered in the process of contract signing and payment settlement, exchange rate fluctuations still exist in view of the constant changes in the international political and economic environment. Therefore, if the exchange rate between RMB and foreign currency fluctuates greatly in the future, it may have a certain impact on the company’s financial performance.

(VI) Industry risks

The company focuses on the research and development of high-performance analog and digital-analog hybrid chips, belonging to the integrated circuit industry. The integrated circuit industry is a field with high concentration of capital and technology. On the one hand, the development of the industry depends on the progress of R&D technology of enterprises in the industry, and on the other hand, it is closely linked with the macroeconomic environment. In recent years, with the rapid development of product technology, the market demand of downstream industries and fields has changed obviously, and the upgrading of end-user products has accelerated. In the future, if there is great uncertainty in the macroeconomic environment, it will affect the integrated circuit industry in which the company is located, which may form a cyclical downturn in the industry; If the industry in which the downstream application field is located is periodically influenced or impacted by itself, it may lead to a reduction in the demand for chip products in this field, which will adversely affect the company’s operating performance.

(VII) Macro-environmental risks

The integrated circuit industry is greatly influenced by macro-environmental factors such as domestic and international economic situation, geopolitics and international trade. According to the World Economic Situation and Prospects in 2024, the global economic growth is expected to slow down from 2.7% in 2023 to 2.4%, and the intensification of geopolitical tensions has further enhanced the uncertainty of the global economy. On the other hand, trade restrictions in the international market and slowing demand in the domestic market have jointly led to overcapacity and intensified market competition in the semiconductor industry, and the overall recovery of the semiconductor industry still needs some time. In the future, if the global geopolitical environment and the uncertainty of international trade friction intensify, it may adversely affect the overall recovery of the integrated circuit industry, resulting in limited upstream supply and insufficient downstream demand in the industrial chain, which will further affect the company’s operating performance.

(8) Risks related to depositary receipts

(9) Other major risks.

V. Discussion and analysis of the company’s future development

(A) the industry pattern and trends

1. Industry structure

After long-term development, the global analog chip industry has formed a relatively stable market structure. International semiconductor companies, such as Texas Instruments, Arnold and Infineon, have dominated the global analog chip market by virtue of their excellent R&D capabilities, diversified product lineup and global customer network. According to ICinsight, in 2021, the market share of the top five analog chip manufacturers in the world is 51%, and the market share of the top ten manufacturers is 68%. The competition pattern of overseas companies is stable, and there is still a big gap between domestic analog chip companies. From the demand side, according to ICinsight data, the demand for analog chips in China accounts for 43% of the global demand in 2021, and China is the largest demand market for analog chips. However, the self-sufficiency rate of analog chips in China is low, only 12% in 2021. The data shows that there is great room for domestic substitution in the analog chip market.

2, industry development opportunities

(1) The trend of localization is obvious.

In recent years, with the change of global political and economic structure, the integrated circuit industry where analog chips are located has become a key area of national strategic development. Facing the uncertainty of geopolitics and international trade, it is urgent to accelerate the localization of integrated circuits. Our government attaches great importance to the development of integrated circuit industry, which is included in the core content of the "14th Five-Year Plan". In the 14th Five-Year Plan for National Economic and Social Development of People’s Republic of China (PRC) and the Outline of Long-term Goals in 2035, the development goal of integrated circuit industry is defined, and the research and development of integrated circuit design tools, key materials and characteristic processes are emphasized, so as to realize technological autonomy and industrial upgrading. To this end, the government has issued a number of support policies and provided corresponding financial assistance to comprehensively help the sustainable development of integrated circuit enterprises. With the strong support of the state, China’s analog chip companies can better invest in research and development to enhance their competitive strength, and it is expected to occupy a more favorable competitive position in the global analog chip industry in the future.

According to the data of the National Bureau of Statistics, in 2023, the output of integrated circuits in China was 351.4 billion pieces, up by 6.9% year-on-year. The data included various chips such as logic chips, memory chips, analog chips, special chips, sensors and chip modules. The data showed that the overall localization scale and capability of integrated circuits continued to improve. At the same time, in 2023, China imported a total of 479.56 billion integrated circuits, down 10.8% year-on-year. On the one hand, the decline in the number of chips imported may be affected by weak demand and other factors. On the other hand, it also shows that Chinese integrated circuit enterprises are increasing the output of local chips and reducing their dependence on overseas chips, thus actively promoting the process of localization.

(2) Emerging application markets bring new development opportunities.

With the rapid development of emerging application markets such as new energy vehicles and artificial intelligence (AI), domestic analog chip companies will also usher in new development opportunities. With the popularization of new energy vehicles and the wide application of AI technology, there are more demands and higher requirements for high-performance and high-reliability analog chips, which opens up new development space for the innovation of analog chips. According to the data released by China Automobile Industry Association, in 2023, the production and sales of new energy vehicles in China totaled 9.587 million and 9.495 million, up by 35.8% and 37.9% year-on-year, respectively. The market share reached 31.6%, up by 5.9 percentage points year-on-year, ranking first in the world for nine consecutive years. The vigorous development of China’s new energy vehicle industry provided huge market potential for domestic analog chip manufacturers. In the field of AI artificial intelligence, AI takes PC, mobile phone, consumer electronics and other terminal devices as carriers for rapid landing. The demand of AI technology for accurate perception, rapid processing and intelligent decision-making catalyzes the upgrading, optimization and replacement of original analog chips and other products, and drives the development of analog chip companies in the industrial chain.

We believe that thanks to the strong support of national policies and the active promotion of emerging markets, China’s analog chip industry is expected to accelerate the pace of technological innovation and product innovation, show stronger competitiveness in the international market and usher in broader development prospects.

(II) Company development strategy

Relying on the dual-drive product system of "power management+signal chain", the company has built a "mobile phone+car" platform, and achieved a number of internationally advanced chips with excellent R&D team and continuous technological innovation. The company insists on creating a differentiated moat through innovation, and will continue to deepen the cooperative relationship with the supply chain based on the existing customer resource system. With a multi-level and all-round one-stop solution, it will continue to provide customers with analog and digital-analog mixed chip products with strong competitiveness in performance, integration and reliability, and form a strategic layout covering communication terminals, consumer electronics, industrial and commercial lighting, smart home, automotive electronics and other fields in application terminals. The company will continue to adhere to the business philosophy of "initiative, ambition, Excellence, innovation and competitiveness", continue to deepen the technical fields of digital-analog hybrid power management, signal chain, automotive electronics, etc., enhance the comprehensive competitiveness and sustainable development ability of enterprises, and strive to become the leading core supplier of analog and digital-analog hybrid chips and related solutions in the industry.

In the future, the company’s overall development strategy is: with the high integration technology of interdisciplinary and multi-field integration as the core, with the goal of proactively positioning the blue ocean market and developing technical products with high barriers and moats, and benchmarking the products of international chip leading enterprises, the company will continue to launch power management and signal chain products with high integration, integrated optics, laser, technology and mixed digital-analog SoC chips, continuously enrich the product matrix, optimize product performance, increase customer stickiness of mobile phones and automotive electronics, and continuously improve economic benefits and signals.

(3) Business plan

In 2024, the company will continue to increase R&D investment and technological innovation in wireless charging, signal chain, automotive electronics and LED lighting driver chips around the listed fundraising projects, and accelerate the product layout in various core areas such as communication terminals, consumer electronics, automotive electronics and smart home while realizing iterative optimization and performance improvement of the original products, further consolidating and enhancing the company’s core competitiveness and competitive advantage, and achieving steady improvement of the company’s performance.

1. Increase R&D investment and technological innovation to enhance core competitiveness.

(1) Consolidate the market share of wireless charging and accelerate the research and development of wired fast charging.

The company has achieved a full range of wireless charging products from low power to 100W high power, meeting the overall application requirements of customers from mobile phones to accessories. In 2024, the company will continue to enrich and strengthen the functional characteristics of wireless charging products in terms of integration, output power and multi-protocol support, and carry out targeted development and expansion in different application fields such as communication terminals, consumer electronics and automotive electronics to consolidate and enhance the company’s market share in the field of wireless charging. On the other hand, the company will also speed up the research and development process of wired fast charging, focusing on developing single-chip and double-chip solutions with high integration, high efficiency and high frequency to better meet the needs of end users for high charging efficiency and long battery life. By providing a complete solution of wireless charging and wired fast charging, the company will effectively enhance customer stickiness and achieve wider customer coverage, thus enhancing the company’s market competitiveness.

(2) Enrich the signal chain product matrix and accelerate the market introduction.

The company has formed a rich product matrix in the field of signal chain, including ambient light sensing, proximity sensing and optical displacement sensing, which can be applied to different scenes such as smart phones, wearable devices and automotive electronics. In 2024, the company will further research and develop a variety of products, such as off-screen optical sensors that can be applied to OLED full screen, Ficker and full-spectrum detection sensors that can assist camera identification and photographing, and vehicle optical sensors that can detect rainfall and fog, actively grasp the market opportunities of domestic substitution in the field of signal chain optical sensing, break the monopoly position of overseas manufacturers and accelerate the entry into the vast blue ocean market.

(3) Optimize the product structure of analog power supply and focus on high-value market segments.

The company focuses on large wattage industrial and commercial lighting applications and has a full range of intelligent driver chip solutions. In 2024, the company will continue to combine the development trend of whole house intelligence and smart city, and upgrade and iterate on products such as intelligent lighting and high PF lighting on the basis of optimizing process technology, so as to improve the functional characteristics such as dimming current depth and PWM dimming frequency range, and respond to the diversified needs of customers. At the same time, the company will focus on entering the automotive lighting market, develop a full range of automotive lighting products, and provide customers with highly integrated and high-performance solutions in application scenarios such as headlights, surround lights and ambient lights, so as to realize the differentiated layout in the lighting field and promote the sustainable development of the product line.

(4) Expand the map of vehicle regulation system and become a leading supplier of vehicle regulation chip.

During the reporting period, the company’s existing automotive electronic products passed the vehicle code certification, realizing an important step towards the vehicle code chip supplier. In 2024, the company will continue to carry out production certification of mature products with original consumer and industrial grade in a planned way, and realize the rapid expansion of automotive electronic business map. On the other hand, the company will continue to focus on the research and development of products with high barriers in automotive electronics and broad domestic substitution space, further promote the research and development layout of high-integration chips such as CANSBC and CANPHY, form market competition barriers, and build automotive electronics into a new engine for performance growth.

2. Broaden market channels and actively implement global strategic layout.

The company will upgrade its strategy on the basis of its existing marketing capabilities, and accelerate the expansion of domestic and even global markets by deepening and expanding its sales channel network. The company will accurately capture and quickly respond to customers’ needs, combine with efficient technical service support, create a good industry reputation and brand image among customers, and effectively enhance the company’s brand value and market competitiveness. While consolidating and improving the domestic market share, the company also plans to actively deploy overseas markets, and gradually enhance its international influence through cooperation with overseas brand customers, so as to gradually realize the development of the global market.

3, gather talent introduction, strengthen talent team building.

The company is an R&D-driven enterprise. The introduction of core technical personnel is conducive to further enhancing the company’s strength and innovation ability. R&D technical personnel belong to the company’s core competitiveness and are one of the decisive factors for the company’s sustainable development. In 2024, the company will continue to strengthen the introduction of high-end technical talents and enrich the company’s R&D talent team; On the other hand, the company will continue to optimize the internal training system and growth mechanism, and cultivate technology R&D and management talents in various ways and angles to enhance the comprehensive ability of employees. At the same time, the company will also provide a highly competitive performance appraisal and incentive mechanism, deeply bind the interests of the company, employees and shareholders, fully stimulate the enthusiasm and innovation awareness of technical talents and teams, and help the company’s long-term sustainable development.

4. Standardize the company’s operation and improve compliance governance.

The company adheres to the business philosophy of legal compliance, strictly abides by national laws and regulations, establishes and improves the internal control system, realizes the standardized operation of the company, and effectively prevents and controls business risks. In 2024, the company will further improve the governance level of the three associations, give full play to the core role of the board of directors, the board of supervisors and the general meeting of shareholders in corporate governance, improve the decision-making, implementation and supervision mechanisms, ensure that the power operation is effectively restricted and balanced, and effectively protect the interests of investors by actively fulfilling the obligation of information disclosure. In combination with the latest changes and requirements of laws and regulations, the company will comprehensively promote the construction of compliance culture, improve the legal awareness and compliance consciousness of all employees through internal and external training and education, and promote the efficient and standardized operation of the company. The company will continue to strengthen the construction of internal control management system, improve the compliance management system in fund management, cost control, intellectual property protection, business cooperation and other aspects, and prevent and reduce operational risks.

Chongqing focuses on service and builds a new development pattern (high-quality development research bank)

　　In the automobile factory, the mechanical arm is moving like a fly, and Chongqing "Zhizao" new energy vehicles with full sense of science and technology are filed out from the automatic production workshop; At the port pier, the whistle sounded, and colorful containers were full of goods, traveling from the mountain city to all parts of the world; In the streets and lanes, smart communities, parks and hospitals have sprung up, and convenient services have enabled Bayu people to enjoy a comfortable life … …

　　In March 2018, when General Secretary of the Supreme Leader participated in the deliberation of the Chongqing delegation at the First Session of the 13th National People’s Congress, he hoped that the broad masses of cadres and masses in Chongqing would "strive to promote high-quality development and create a high-quality life".

　　Implementing the spirit of the important instructions of the Supreme Leader General Secretary, Chongqing has strengthened the work orientation of steady progress and efficiency improvement, focused on serving and building a new development pattern, and the high-quality development has been solid and powerful, and the picture of high-quality life has become increasingly clear. In the first three quarters of this year, Chongqing achieved a regional GDP of 2,224.388 billion yuan, a year-on-year increase of 5.6%.

　　Gather strength to activate the engine of innovation and accelerate the rise of industrial energy level.

　　As a traditional manufacturing town, Chongqing has a complete range of manufacturing industries and a good industrial foundation.

　　How to enhance the advantage? The answer given by Chongqing is: conquer new technologies, seize new tracks and cultivate new kinetic energy.

　　Entering Chongqing Liyituo Software Co., Ltd., an automobile collision simulation experiment is being presented on the computer screen: with the increase of parameters, the automobile suspension begins to bend and deform, and finally breaks.

　　"Through the technical research on computer-aided engineering software, we have gnawed down the industry ‘ Hard bone ’ , realizing the full digitization of the testing process. " Li Bo, the founder of the company, explained while operating, "With the help of virtual simulation technology, we can accurately understand the fatigue and durability of the car and diagnose the design defects that are not easy to detect."

　　As an important automobile industry base in China, Chongqing, with 21 automobile enterprises and more than 1,000 enterprises above designated size, actively aims at the new development opportunities of intelligent networked new energy vehicles, comprehensively sorts out the pain points and difficulties of upstream and downstream products and enterprises in the industrial chain, and promotes the innovative development, transformation and upgrading of the automobile industry to intelligence, high-end and green.

　　"New technologies foster new kinetic energy. In the first half of this year, Chongqing’s automobile industry maintained a good development trend, contributing 21.4% to the city’s industrial growth. Among them, the output value of new energy vehicles increased by 33.8% year-on-year, contributing 85% to the growth of the city’s automobile industry. " Tu Xingyong, deputy director of Chongqing Economic and Information Technology Commission, said.

　　Entering Chongqing Yuhai Precision Manufacturing Co., Ltd. located in Bishan District, Deputy General Manager He Bo said that through the intelligent transformation of the production line, more than 400 robots and automation equipment were introduced. "The automation rate of injection molding machines jumped from 5% to more than 50%, and the yield increased to more than 99%."

　　In Jiulongpo District, in the melting and casting plant of Southwest Aluminum (Group) Co., Ltd. of Chinalco Group, large-scale ingots are freshly "baked" … … From relying entirely on imports at the earliest time to establishing a research team with universities and colleges, after hundreds of tests, Southwest Aluminum has successively broken through a series of key technical problems such as the preparation of large-scale ingots, and has so far provided more than 1,000 pieces of aluminum alloy materials with 30 specifications for C919 domestic large passenger aircraft.

　　Biomedical industrial cluster is one of the emerging characteristic industrial clusters in Chongqing, and Banan District is located with an international biological city with a planned area of 64 square kilometers. "At present, there are hundreds of projects in the park, and the agreed output value exceeds 100 billion yuan. In the past five years, industrial investment has increased by more than 30% annually, forming a pattern with biopharmaceuticals as the core and the development of chemical drugs, modern Chinese medicine and medical devices in all fields." Li Rui, Party Secretary and Chairman of Chongqing International Bio-City Development and Investment Co., Ltd. introduced.

　　From R&D to production, Chongqing enterprises have vigorously activated the innovation engine, and the digital empowerment industry has improved. In June this year, Chongqing held a conference to promote the high-quality development of manufacturing industry, proposing to focus on building a modern manufacturing cluster system, iteratively upgrading the industrial structure of manufacturing industry, and accelerating the construction of an important national advanced manufacturing center.

　　Promote a higher level of opening up and serve to build a new development pattern.

　　Chongqing manufacturing has been upgraded to "Chongqing Zhizao". How to go global next?

　　To the east, take advantage of the Yangtze River golden waterway to go to sea; To the west, through the Central European train to Europe; To the south, the new land and sea passage in the west reaches Southeast Asia; To the north, the "Chongqing Manchu Russia" train goes directly to Russia. From "one line" to "one net", the channel of internal communication and external communication will support Chongqing to build an all-round opening pattern.

　　Arriving at the dock of Orchard Port, ships and trains frequently come and go, and the large-scale yard bridge is like a giant hand carrying boxes of freight "building blocks". "Goods are transported through the new land and sea passage in the west, with short time and favorable price, and can also provide a package of logistics services, technical support and after-sales service … …” At the beginning of this year, Zheng Yijun, the chairman of Zhaotai Trading (Chongqing) Co., Ltd., flew to Malaysia to explore the market, and the convenient logistics channel conditions allowed both parties to sign the bill immediately … …

　　Channels are widening and trade is more prosperous. In 2022, the cargo throughput of Orchard Port was 25 million tons, a year-on-year increase of 20%; The container throughput was 880,000 TEUs, a year-on-year increase of 73%.

　　The continuous prosperity of trade has also forced the channel construction to innovate. In the past international trade, shipping was a "bill of lading", while international railway was a "waybill", which did not have the function of a document of title and was difficult to be recognized by financial institutions. Chongqing explored the "one-single-system" pilot of rail-sea combined transport, and creatively established a full-service model of one commission, one insurance, one order to the end and one settlement by connecting railway container trains to the global shipping network, which provided more convenience for enterprises to carry out cross-border trade.

　　The channel construction should be tried first, and more people flow, logistics and capital flow are coming to the mountain city.

　　Connecting the land to the sea and embracing the world, the pace of Chongqing’s opening up is steady and fast, the quality of opening up is getting higher and higher, and the new development pattern of service construction is more powerful.

　　As night falls, the Chongqing Chemical Wharf in Changshou Economic Development Zone is brightly lit, and containers will be sent to Southeast Asia along the new land and sea passage in the west. Fengjie navel orange is exported to RCEP (Regional Comprehensive Economic Partnership Agreement) member countries by means of multimodal transport. Jiangjin district’s Chongqing Shuang Fu International Agricultural Trade City distributes and sells ASEAN-imported agricultural products such as seafood, Thai fragrant rice and durian … …

　　An inland open highland at the junction of the "Belt and Road" and the Yangtze River Economic Belt is accelerating its rise.

　　Create a high-quality life and enhance people’s livelihood and well-being

　　Governing the country regularly and benefiting the people. In recent years, Chongqing has effectively brought high-quality development achievements to the wider masses and continuously improved people’s livelihood and well-being.

　　Smart Supermarket, Smart Fitness, Smart Home Store, Restaurant Robot & HELIP; … In Yuanyang Street, Liangjiang New District, digital empowerment makes residents’ lives more convenient.

　　"Guided by meeting the needs of residents, we have built a network of convenience facilities and ‘ A quarter of an hour ’ Convenient life service circle. " Deng Ke, secretary of the Party Working Committee of Yuanyang Street, told the reporter that they also developed an "old squad leader" mediation applet to deal with contradictions and disputes in time online, and formed an intelligent mediation system supported by the "old squad leader" as the carrier, the streets, business departments, community neighborhood committees, grid workers and professional legal workers.

　　In addition to the bustling business district, the digital tentacles are constantly extending from the city to the countryside, so that the "feeling of benefiting the people" can be implemented and a vivid footnote can be written for creating a high-quality life.

　　"The bamboo water pipe joint behind my house is leaking, and I hope to repair it as soon as possible." In Fangniu Village, Nanshan Street, Nan ‘an District, a villager wrote a message through the window of "Villagers Tell Things", a small program of village-level affairs management platform for the village.

　　"Immediately arrange the staff to inform Nanshan Waterworks." After the reply, Wang Xue, secretary of the Party branch of Fangniu Village, quickly deployed personnel to handle it, and promptly replied to the villagers’ handling results in a small program. The whole process took less than 24 hours.

　　People’s livelihood is no small matter, and branches and leaves are always related to love.

　　Once "Tiankeng Village" — — Xiazhuang Village, Wushan County has carved a "steep road" and developed the citrus industry. This year, the citrus orchard in the whole village is expected to produce about 200,000 Jin, which will drive more than 80 local villagers to increase their income, and small citrus has become the "rich fruit" of the villagers. Xiannvhu Town, Fengdu County, located at the top of the mountain, has turned environmental disadvantages into development advantages. More than 500 farmers have engaged in the alpine vegetable industry, and built characteristic agricultural products processing plants and alpine fruit and vegetable picking gardens, achieving an average income increase of more than 20,000 yuan per household. In Wawu Town, taoranju, Qiaotou Town, Shizhu Tujia Autonomous County, the amount of investment projects exceeded 150 million yuan, which led more than 300 households to have a "tourist meal" by expanding the business format, land transfer, shareholding and dividends.

　　On the 82,000-square-kilometer land of Bayu, the broad masses of cadres and people in Chongqing are forging ahead, solidly promoting high-quality development and striding towards a better new life.

　　(Our reporters Wu Dan, Qu Xinming, Zheng Xue Feiteng and Liu Xinwu participated in the writing)

The top priority of employment in colleges and universities is Guanlan.

　　This year, the number of college graduates nationwide exceeded 10 million for the first time. At the same time, the impact of the COVID-19 epidemic continues, and the employment situation is very severe and complicated. This incident touched the heart of the Supreme Leader General Secretary. During his visit to Sichuan, he came to Yibin College to focus on the employment situation of graduates.

Click to listen to the audio version of Tide Head Guanlan.

　　Very concerned at the critical stage

　　Employment is the foundation of people’s livelihood. In May 2013, when General Secretary of the Supreme Leader visited Tianjin, he made a special trip to investigate the employment of college students. The general secretary had a cordial conversation with recruiters and college students, and had a discussion with college graduates and other representatives, demanding that the youth employment work with college graduates as the focus should be earnestly done.

　　In 2020, the epidemic broke out in COVID-19. In February of that year, at the deployment meeting to promote epidemic prevention and control and economic and social development, the general secretary specifically emphasized that "we should pay attention to the employment of college graduates and make overall plans for graduation, recruitment, examination and other related work, so that they can graduate smoothly and get employment as soon as possible."

　　In July of that year, the General Secretary visited FAW Group. I heard that there were several college students who graduated that year, and the general secretary was concerned about the inquiry.

△ These are several college students who were on the scene at that time and joined FAW Group in 2020. (Photographed by CCTV reporter Lu Xinyu)

　　At the end of last year, at the Central Economic Work Conference, the General Secretary once again stressed that the employment problems of young people such as college graduates should be solved and the flexible employment and social security policies should be improved.

　　At present, it is the key stage of college graduates’ employment. Around the "100-day sprint", relevant departments are focusing on a series of special actions such as recruitment, visiting enterprises to expand their posts, enrolling all enterprises in schools, employment guidance, and precise assistance.

　　During the inspection tour of Yibin University, the General Secretary stressed that in order to further tap the post resources and provide detailed employment guidance services, schools, enterprises and relevant departments should do a good job in the implementation of student employment contracts, especially focusing on poverty-stricken families, low-income families, zero-employment families and disabled college graduates who have not been employed for a long time.

　　"Although the road of life is long, there are often only a few steps at stake, especially when people are young." Give a hand, give a hand, and convey warmth and strength.

　　Message to graduates: "Keep an honest heart"

　　To solve the problem of college students’ employment, it is also necessary for college students to change their employment concept.

　　In July, 2020, General Secretary of the Supreme Leader wrote back to the graduates of Karamay Campus of China Shiyou University. Knowing that 118 students will go to work at the grassroots level in Xinjiang after graduation, the general secretary said, "I support this life choice you have made."

　　In May 2013, when the General Secretary visited Tianjin, he encouraged contemporary college students to be ambitious and down-to-earth, to change their concept of choosing a job, to proceed from reality, to be brave in going to the grassroots and hard places, to take the road of life step by step, and to be good at creating extraordinary achievements in ordinary posts.

　　This is the earnest message of the general secretary and his practice. In May, 2014, the General Secretary talked with Peking University’s teachers and students about the choice of going abroad and working when he was young, but in the end, the idea of "wanting to do something" made him choose to stay at home and work for the country and people. "A life with faith, dreams, struggle and dedication is a meaningful life."

△ Yibin College, the students who participated in the employment and entrepreneurship promotion activities of the 2022 graduates took a group photo. (Photographed by Li Jin, a reporter from Taiwan)

　　This time in Yibin College, the general secretary told the students that a happy life is created by labor. Everyone should keep a down-to-earth heart, look at personal conditions and social needs objectively, choose occupations and jobs from reality, love labor, be down-to-earth, and grow up step by step in practice.

　　As the general secretary said, "As long as there is ambition, there will be a career, and as long as there is skill, there will be a stage."

　　Innovation and entrepreneurship: running hard on the track of youth

　　In May 2013, when General Secretary of the Supreme Leader visited Tianjin, he asked relevant departments to increase support for college graduates to start their own businesses, so as to enhance students’ ability of employment, entrepreneurship and career change.

　　At present, China has held eight consecutive "internet plus" College Students’ Innovation and Entrepreneurship Competition, promoting innovation to lead entrepreneurship and entrepreneurship to promote employment. In August 2017, the General Secretary wrote back to the college students who participated in the "Youth Red Dream Tour" of the Innovation and Entrepreneurship Competition, encouraging them to "take root in China to understand the national conditions and people’s feelings, and grow their wisdom and talents in innovation and entrepreneurship".

　　In April 2016, the General Secretary once again called for innovation and entrepreneurship at the symposium of intellectuals, model workers and youth representatives.

△ Yibin College, green grass. (Photographed by Li Jin, a reporter from Taiwan)

　　In May this year, the General Office of the State Council issued the Notice on Further Improving the Employment and Entrepreneurship of Young College Graduates, which clearly stated that self-employment and flexible employment were supported, and one-time entrepreneurship subsidies, business guarantee loans and interest subsidies, tax reduction and exemption, social insurance subsidies and other policies were given according to regulations.

　　Young people are always new, most enthusiastic and motivated to innovate. During a recent inspection tour at Renmin University of China, the General Secretary encouraged the students to be pioneers and strive to be pioneers in the new process of building a socialist modern country in an all-round way.

　　In the college graduation season, youth never leaves. Every student will start a two-way journey of life and ideal under the warm eyes.

　　Producer: Shen Yong Zhao Xuehua Gong Xuehui

　　The main author is Randy.

　　Broadcast Zhi Peng

　　Audio production Li Chenyu

　　Editor-in-Chief Yu Zhenyi

　　Visual sense, Chen Kuo, Zhang Jing

Well-known private enterprises in the country helped Liaoning to revitalize in an all-round way, and the high-end summit opened. Hao Peng Xu Lejiang, Li Lecheng and Zhou Bo attended.

　　Reporter Shi Dongbai from Qi Wang, Fang Liang reported that on August 3rd, a high-end summit for Liaoning’s comprehensive revitalization and new breakthroughs was held in Shenyang. Hao Peng, Secretary of the Provincial Party Committee and Director of the Standing Committee of the Provincial People’s Congress, delivered a speech; Xu Lejiang, Vice Minister of the United Front Work Department of the Central Committee and Party Secretary of the All-China Federation of Industry and Commerce, delivered a speech; Li Lecheng, Deputy Secretary of the Provincial Party Committee and Governor, made a keynote presentation; and Zhou Bo, Chairman of the Provincial Political Consultative Conference, attended the summit. Nan Cunhui, Chairman of Zhengtai Group Co., Ltd., Qi Xiangdong, Chairman of Qi Anxin Technology Group Co., Ltd., Chen Jianhua, Chairman of Hengli Group Co., Ltd. and Liu Jiren, Chairman of Neusoft Group, spoke respectively. Nearly 900 well-known private entrepreneurs from all over the country attended the summit.

　　Hosted by the provincial government and the All-China Federation of Industry and Commerce, this high-end summit will focus on the theme of "well-known private enterprises entering Liaoning to help revitalize new breakthroughs", and set up a platform to promote Liaoning, publicize Liaoning and promote cooperation by holding the opening ceremony and special activities such as advanced manufacturing, agricultural industry, new energy industry, cultural tourism industry and metallurgical new material industry, aiming to let all parties fully understand the strong advantages, major business opportunities and bright prospects of Liaoning’s revitalization and development, and stimulate the enthusiasm of private entrepreneurs to invest in Liaoning, innovate and start businesses.

　　In his speech, Hao Peng, on behalf of the provincial party committee and the provincial government, congratulated the summit, welcomed all the distinguished guests, and expressed gratitude to the All-China Federation of Industry and Commerce and people from all walks of life who have long cared for and supported the revitalization and development of Liaoning. He said that since the 18th National Congress of the Communist Party of China, the CPC Central Committee with the Supreme Leader as the core has attached great importance to the development of the private economy, and the General Secretary of the Supreme Leader has made important instructions on many occasions, emphasizing "two unwavering" and "three unchanged" and clearly demanding to promote the healthy and high-quality development of the private economy. Not long ago, the CPC Central Committee and the State Council issued the Opinions on Promoting the Development and Growth of Private Economy, proposing to support private enterprises to invest and develop in Northeast China. This is an important deployment made by the CPC Central Committee with a view to promoting regional coordinated development, a strong signal to encourage private enterprises to participate in the national strategy, and a policy guide to further support the revitalization and development of Northeast China. The high-end summit was held at the right time, which not only built a solid platform for private enterprises to participate in the revitalization and development of Liaoning, but also created a good opportunity for private entrepreneurs to exchange and cooperate.

　　Hao Peng said that Liaoning, with its profound background and unique advantages, welcomes all of you to seek common plans for cooperation. Liaoning has a solid industrial base, complete industrial categories, great power and heavy equipment integration, and profound industrial heritage and innovative resources; The location advantage is outstanding, and it is located in the core of the Northeast Asian economic circle, which is an important node in the construction of the "Belt and Road"; Rich in scientific and educational resources, the university compound is largely concentrated, and the quality of industrial workers is high. This solid foundation, unique advantages and great potential make Liaoning’s high-quality development full of confidence and motivation. Entrepreneurs combine their own strengths with Liaoning’s advantages, which will surely enable enterprises to continuously step onto a new level of high-quality development.

　　Hao Peng said that Liaoning, which is poised for growth, expects everyone to share development opportunities. We thoroughly implemented the spirit of the important instructions of the General Secretary of the Supreme Leader, and made every effort to implement the three-year action of comprehensive revitalization and new breakthroughs. The economic growth continued to consolidate and the overall recovery improved. Today’s Liaoning contains a vast space for cooperation. We are speeding up the construction of a modern industrial system, focusing on building three trillion industrial bases and 22 key industrial clusters, and creating a regional scientific and technological innovation center with national influence, with many cooperation scenarios that are highly compatible with various business entities. Today’s Liaoning presents a good situation of accelerating the agglomeration of various elements. Central enterprises, private enterprises and foreign enterprises come to Liaoning intensively to discuss, sign contracts and lay out, a number of high-quality major projects have been signed and landed, and capital talents have been accelerated. Liaoning is becoming a fertile ground for innovation and entrepreneurship.

　　Hao Peng said that Liaoning, which has a good environment and is open and inclusive, sincerely invites everyone to create a better future. Party committees and governments at all levels in Liaoning have always been the strong backing of the private economy, treating private enterprises and entrepreneurs as their own, continuously optimizing the policy environment, the rule of law environment and the service environment, accelerating the creation of an "upgraded version" of the business environment, and creating a market-oriented, rule-of-law and international first-class business environment, which has provided stable expectations for all types of business entities to become bigger and stronger. Do everything possible to ensure the demand of enterprise factors, protect the legitimate rights and interests of entrepreneurs according to law, build an honest government, and strive to build a pro-Qing political and business relationship, so that everyone can feel at ease in investing, starting a business, developing smoothly and living comfortably in Liaoning. Choosing Liaoning means choosing opportunities, and investing in Liaoning means investing in the future. We sincerely invite entrepreneurs and friends to visit Liaoning more often, feel the positive changes and vigorous vitality of this hot land, and come here to invest in business, innovate and start a business, live and buy a home, and expand business opportunities and win-win development with Liaoning.

　　On behalf of the All-China Federation of Industry and Commerce, Xu Lejiang congratulated the summit. He said that the National Federation of Industry and Commerce and the Liaoning Provincial Government co-hosted the summit at a time when the whole country was studying, propagating and implementing the spirit of the 20th Party Congress and the whole party was carrying out in-depth education on the theme of studying and implementing the Supreme Leader’s Socialism with Chinese characteristics Thought in the new era, which was to implement the important speech and instructions of the General Secretary of the Supreme Leader on the revitalization and development of Northeast China and Liaoning with practical actions, implement the important decision-making arrangements of the CPC Central Committee and the State Council on the development of Northeast China and Liaoning, and promote the implementation of various policy measures. It is hoped that the vast number of private enterprises will firmly develop their confidence, firmly grasp the current general trend of economic development, unify their thoughts and actions with the scientific judgment of the CPC Central Committee on the economic and social development situation, deeply understand the decision-making arrangements of the CPC Central Committee’s unwavering support for the development of the private economy, eliminate concerns, lay down burdens, boldly develop, and adhere to the road of high-quality development. We should carry forward the spirit of outstanding entrepreneurship, arm our minds with new development concepts, take scientific and technological innovation as the main driving force, take the initiative to benchmark the standards of world-class enterprises, improve the governance level of modern enterprises, carry forward the excellent traditional Chinese culture, actively lead small and medium-sized enterprises to develop together, actively fulfill their social responsibilities, and be a model of patriotism, dedication, law-abiding management, entrepreneurial innovation and return to society. It is necessary to seize the opportunity, actively respond to the national strategy, actively support the revitalization of Northeast China and Liaoning, further combine the advantages of enterprises with the advantages of Liaoning’s resource endowment, and realize the high-quality development of their own enterprises while helping Liaoning to achieve new breakthroughs in all-round revitalization.The All-China Federation of Industry and Commerce will, as always, pay attention to Liaoning’s development and provide support for promoting high-quality economic and social development in Liaoning and achieving new breakthroughs in all-round revitalization.

　　In his keynote presentation, Li Lecheng said that Liaoning is a good place with splendid culture, livable ecology, vitality and full of opportunities, with its beautiful mountains and seas, rich history and rich people. Today’s Liaoning, unswervingly following the direction of the Supreme Leader’s General Secretary, is fully implementing the three-year action of comprehensive revitalization and new breakthrough. The economic growth has been continuously consolidated, the overall rebound has improved, the momentum of high-quality development has become stronger, and the expectations of the outside world have been continuously improved. It is becoming a highland for innovation and entrepreneurship and a hot spot for investment and development. Sail at the right time and join hands in the future. Liaoning will base itself on a solid industrial foundation and do a solid job in the "three major articles" of structural adjustment; Give full play to the advantages of science and education resources and strive for a regional scientific and technological innovation center with national influence; Highlight the unique characteristics of culture and build a strong province of cultural tourism in an all-round way; Make good use of resource endowment and accelerate the construction of a strong agricultural province and a large food industry province; Relying on the unique geographical conditions, we will make every effort to create a new frontier for opening up. We must unswervingly consolidate and develop the public sector of the economy, unswervingly encourage, support and guide the development of the non-public sector of the economy, continuously optimize the business environment, make a good combination of policy support, be a good guardian of fair competition, be a good booster for enterprise development, and build a bridge of cooperation between government and enterprises, so as to make generate, a business entity of all kinds, more dynamic and better develop. We warmly welcome entrepreneurs to pay attention to Liaoning, choose Liaoning and invest in Liaoning, show their talents and make contributions in deeply participating in Liaoning’s revitalization and development practice, expand cooperation space, achieve win-win cooperation, and work together to show greater responsibility and achievements in the revitalization of Northeast China in the new era.

　　A centralized project signing ceremony was held at the opening ceremony. Twenty-four projects were signed on site, covering shared energy storage, lithium batteries, hydrogen energy, equipment manufacturing, agricultural aquaculture, digital economy, new chemical materials and other fields, with an investment of 63.4 billion yuan. At this summit, 147 projects will be signed with a total investment of 143.5 billion yuan.

　　An Lijia and Shou Zi Qi, vice-chairmen of the All-China Federation of Industry and Commerce, Zhang Jian, vice-chairman of Hunan Provincial Political Consultative Conference and chairman of the Federation, Zhao Dejiang, member of the Party Committee and Secretary General of the All-China Federation of Industry and Commerce, relevant responsible comrades of the United Front Work Department of the Party Committee of 16 provinces, autonomous regions and municipalities, relevant leaders of the Standing Committee of the Provincial People’s Congress, the provincial government and the Provincial Political Consultative Conference, principal responsible comrades of party and government in various cities, and principal responsible comrades of relevant units in provinces (central) attended the summit. Hu Lijie, member of the Standing Committee of the Provincial Party Committee and Minister of the United Front Work Department, presided over the summit.

The State Council City, the Central Committee of the Communist Party of China issued the ＂Overall Plan for Deepening the Reform of Education Evaluation in the New Era＂

　　Xinhua News Agency, Beijing, October 13 (Xinhua) Recently, the Central Committee of the Communist Party of China and the State Council issued the "Overall Plan for Deepening the Reform of Education Evaluation in the New Era", and issued a notice asking all localities and departments to conscientiously implement it in light of the actual situation.

　　The full text of the Overall Plan for Deepening the Reform of Educational Evaluation in the New Era is as follows.

　　Educational evaluation is related to the direction of educational development. What kind of evaluation baton there is, what kind of school-running orientation there is. In order to thoroughly implement the important exposition of the Supreme Leader General Secretary on education and the spirit of the National Education Conference, improve the system and mechanism of cultivating people by virtue, reverse the unscientific orientation of education evaluation, resolutely overcome the stubborn diseases of only grades, only entering higher schools, only diplomas, only papers and only hats, improve the ability and level of education governance, accelerate the modernization of education, build an educational power, and run a satisfactory education for the people, the following programs are formulated.

　　I. General requirements

　　(1) Guiding ideology. Guided by the Supreme Leader’s Socialism with Chinese characteristics Thought in the New Era, we will fully implement the spirit of the 19th National Congress of the Communist Party of China and the 2nd, 3rd and 4th Plenary Sessions of the 19th National Congress, fully implement the Party’s educational policy, adhere to the direction of running a socialist school, implement the fundamental task of educating people by virtue of education laws, systematically promote the reform of educational evaluation, develop quality education, guide the whole party and society to establish a scientific concept of educational development, talent growth, selection and employment, promote the construction of an education system that serves the lifelong learning of the whole people, and strive to cultivate and take on the great responsibility of national rejuvenation.

　　(2) Main principles. Adhere to moral education, keep in mind the mission of educating people for the party and the country, give full play to the baton role of educational evaluation, guide the establishment of scientific educational goals, and ensure the correct development direction of education. Adhere to the problem-oriented, start with the issues concerned by the CPC Central Committee, the masses and the society, break through and make substantial breakthroughs in promoting the reform of key areas of educational evaluation. Adhere to scientific and effective, improve the evaluation of results, strengthen process evaluation, explore value-added evaluation, improve comprehensive evaluation, make full use of information technology, and improve the scientificity, professionalism and objectivity of educational evaluation. Adhere to overall planning, design and steadily advance according to the characteristics of different subjects, different classes and different types of education, and enhance the systematicness, integrity and synergy of the reform. Adhere to the characteristics of China, take root in China, integrate China and foreign countries, base on the times and face the future, and unswervingly take the road of education development in Socialism with Chinese characteristics.

　　(3) reform objectives. After five to ten years’ efforts, the level of scientific performance of duties by Party committees and governments at all levels has been significantly improved, the implementation mechanism of moral education in schools at all levels has been improved, the evaluation system for guiding teachers to devote themselves to educating people has been improved, the evaluation methods for promoting students’ all-round development have been more diversified, and the social selection and employment methods have been more scientific. By 2035, an education evaluation system with characteristics of the times, China characteristics and world level will be basically formed.

　　Second, the key tasks

　　(A) the reform of the Party committee and government education evaluation, and promote the scientific performance of their duties.

　　1. Improve the system and mechanism of the Party’s overall leadership over education. Party committees at all levels should conscientiously implement their leadership responsibilities, establish and improve an education leadership system in which the Party committees lead in a unified way, the Party and the government work together, and all departments assume their respective responsibilities, perform their duties of guiding the direction, managing the overall situation, making decisions and ensuring implementation, take ideological and political work as the lifeline of all school work, run through the whole process of school education management, firmly establish a scientific concept of educational development, and resolutely overcome short-sighted behavior and utilitarian tendencies. Party committees and governments at all levels should improve the mechanism of regular research and education, and establish and improve the system of in-depth education and front-line research by leading comrades of the party and government, ideological and political lessons for teachers and students, contact with schools, and education at the end of the year.

　　2. Improve the evaluation of the government’s educational responsibilities. The provincial government mainly evaluates the overall implementation of the Party’s educational policy and the decision-making arrangements of the CPC Central Committee on education, the implementation of the education priority development strategy, and the solution of outstanding educational problems that the people are generally concerned about, not only evaluating the final results, but also evaluating the degree of efforts and progress and development. According to the evaluation contents and indicators established at the national level, all localities refine them in combination with the actual situation as the basis for evaluating the next level of government’s performance of educational duties.

　　3. Resolutely correct the tendency of one-sided pursuit of enrollment rate. Party committees and governments at all levels should adhere to the correct concept of political achievements, and must not issue entrance examination indicators or assess the next-level party committees and governments, education departments, schools and teachers with the entrance examination rate, and must not link the entrance examination rate with school projects, fund allocation, evaluation and evaluation, and must not reward teachers and students with the entrance examination results in any form. It is strictly forbidden to publish, publicize and speculate on the entrance examination "No.1" and the entrance examination rate. If the ecological problems of education are outstanding and cause serious social impact, they shall be held accountable according to laws and regulations.

　　(B) Reform the school evaluation, and promote the implementation of the fundamental task of Lide Shuren.

　　4. Adhere to the effectiveness of Lide Shuren as the fundamental standard. Speeding up the improvement of the evaluation criteria of schools at all levels and types will take the implementation of the Party’s overall leadership, adhering to the correct direction of running schools, strengthening and improving the Party building in schools, leading the Party to build teams, doing a good job in ideological and political work, running schools according to law, and maintaining security and stability as the important contents of evaluating schools and their leaders and managers, improve the internal quality assurance system of schools, resolutely overcome unilateral school-running behaviors such as attaching importance to intellectual education over moral education and attaching importance to scores over quality, and promote students’ physical and mental health and all-round development.

　　5. Improve kindergarten evaluation. Focus on the evaluation of kindergarten scientific education, standardized kindergarten, safety and health, team building, overcoming the tendency of primary school, etc. The state has formulated guidelines for evaluating the quality of kindergarten education, and all provinces (autonomous regions and municipalities directly under the Central Government) have improved the standards for evaluating the quality of kindergartens, included all kinds of kindergartens in the quality evaluation category, and regularly announced the evaluation results to the public.

　　6. Improve the evaluation of primary and secondary schools. Compulsory education schools focus on promoting students’ all-round development, ensuring students’ equal rights and interests, leading teachers’ professional development, improving education and teaching level, creating a harmonious educational environment, building a modern school system, academic burden and social satisfaction. The state formulates evaluation standards for the quality of compulsory education schools, improves the quality monitoring system of compulsory education, strengthens the application of monitoring results, and promotes the balanced development of compulsory education. Ordinary senior high schools mainly evaluate the cultivation of students’ all-round development. The state formulates the evaluation standards for the quality of running ordinary senior high schools, highlighting the implementation of students’ comprehensive quality evaluation, developing students’ development guidance, optimizing the allocation of teaching resources, orderly promoting class selection, and standardizing enrollment and running schools.

　　7. Improve the evaluation of vocational schools. Focus on the evaluation of vocational schools (including technical colleges, the same below), the integration of production and education, school-enterprise cooperation, the combination of education and training, the students’ acquisition of vocational qualifications or vocational skill level certificates, the employment quality of graduates, the construction of "double-qualified" teachers (including "integrated" teachers in technical colleges, the same below), etc., expand the participation of industry enterprises in the evaluation, and guide the training of high-quality workers and technical and skilled personnel. Deepen the integration of vocational education and general education, explore the high-level apprenticeship system with China characteristics, and improve the degree awarding standard and evaluation mechanism suitable for the development of vocational education. We will increase the evaluation weight of vocational training, service areas and industries, take the undertaking of vocational training as an important basis for verifying the total performance salary of vocational school teachers, and promote the improvement of the lifelong vocational skills training system.

　　8. Improve the evaluation of colleges and universities. Promote the classified evaluation of colleges and universities, guide the scientific orientation of different types of colleges and universities, and make them unique and level. Improve the teaching evaluation of undergraduate education, emphasizing ideological and political education, teaching for undergraduates by professors, the ratio of students to teachers, the number of courses per student, the dominant specialty, the guidance of graduation thesis (graduation design), student management and service, students’ participation in social practice, graduate development, and employer satisfaction. Improve discipline evaluation, strengthen the position of talent training center, dilute the number of papers, citation rate, awards and other quantitative indicators, highlight the characteristics, quality and contribution of disciplines, and correct the practice of unilaterally evaluating academic level with academic titles. Teachers’ achievements are strictly determined by the signing units and do not follow the people. Explore the establishment of application-oriented undergraduate evaluation standards, and highlight the cultivation of corresponding professional ability and practical application ability. Formulate evaluation methods for the effectiveness of "double first-class" construction, highlight the cultivation of first-class talents, output first-class achievements, actively serve the needs of the country, and guide universities to strive for world first-class. Improve the evaluation of normal universities, take running normal education as the first duty, and take training qualified teachers as the main assessment index. Improve the performance evaluation of university funds, and guide universities to increase their support for education, teaching and basic research. Improve the evaluation of international exchanges and cooperation in colleges and universities, and promote the quality of inter-school exchanges, studying in China, cooperating in running schools, and introducing overseas talents. Explore the evaluation of universities serving the whole people’s lifelong learning and promote the construction of a learning society.

　　(C) the reform of teacher evaluation, and promote the practice of teaching and educating people.

　　9. Adhere to the teacher’s morality as the first standard. Resolutely overcome the phenomenon of valuing scientific research over teaching and valuing teaching over educating people, regard the performance of teachers’ morality as the primary requirement for regular registration of teachers’ qualifications, performance appraisal, evaluation and appointment of professional titles, and evaluation and reward, strengthen the investigation of teachers’ ideological and political quality, and promote the normalization and long-term construction of teachers’ morality and style. Improve the teacher honor system and give play to the leading role of typical demonstration. We will fully implement the professional code of conduct for teachers in kindergartens, primary and secondary schools and colleges in the new era, and establish a notification and warning system for teachers’ moral misconduct. For teachers with serious problems of teachers’ morality and style, explore the implementation of the education industry-wide ban system.

　　10. Highlight educational and teaching achievements. Taking the conscientious performance of education and teaching duties as the basic requirement for evaluating teachers, and guiding teachers to do well in every class and care for every student. Kindergarten teachers’ evaluation highlights the practice of teaching protection, and takes the ability of promoting children’s active learning and all-round development with games as the key index, which is included in the training standards of preschool education professionals and the important content of on-the-job training of preschool teachers. Explore the establishment of a teaching evaluation system for primary and secondary school teachers. Teachers should evaluate each student’s studies every semester, and the evaluation should be included in the teacher assessment. We will improve the performance appraisal methods for primary and secondary school teachers, and the distribution of performance pay will be tilted towards the head teacher and the teachers with outstanding teaching effects. Improve the evaluation criteria for the identification, employment and assessment of "double-qualified" teachers, and highlight the level of practical skills and professional teaching ability. Standardize the conditions for the employment of college teachers and the evaluation of professional titles, and do not take the study experience outside the country (territory) as a restrictive condition. Participate in teaching and research activities, compile teaching materials and cases, guide students’ graduation design, employment, innovation and entrepreneurship, social practice, community activities, competitions and performances, etc. are included in the workload. To implement the system of professors attending classes, colleges and universities should make it clear that professors should undertake the minimum class requirements for undergraduate (junior college) students, ensure the teaching quality, and give unqualified treatment to those who fail to meet the requirements in annual or employment assessment. Support the construction of high-quality academic journals of teaching and research, and encourage university journals to tilt towards teaching and research. Improve the monitoring and evaluation mechanism of textbook quality, implement the national reward system for textbook construction, and select it once every four years.Teachers who have made outstanding contributions shall be commended and rewarded according to regulations. Improve the national teaching achievement award selection system, optimize the award-winning categories and the allocation of selected places.

　　11. Strengthen the work of front-line students. All kinds of schools at all levels should make clear the specific requirements for leading cadres and teachers to participate in student work. Implement the home visit system for primary and secondary school teachers and incorporate the contact between home and school into the teacher assessment. The annual debriefing of members of leading bodies in colleges and universities should take ideological and political lessons and contact with students as important contents. To improve the selection and appointment mechanism of party and government management cadres in schools, in principle, students should have work experience such as ideological and political teachers, counselors or class teachers. Young teachers in colleges and universities must have at least one year’s work experience as counselors, class teachers and other students in order to be promoted to a higher professional title.

　　12. Improve the scientific research evaluation of university teachers. Highlight the quality orientation, focus on the evaluation of academic contributions, social contributions and supporting personnel training, and do not link the quantitative indicators of scientific research such as the number of papers, the number of projects, and the project funds with the performance salary distribution and rewards. According to the characteristics of different disciplines and different posts, we insist on classified evaluation, carry out representative achievement evaluation, explore long-term evaluation, improve peer expert evaluation mechanism, and pay attention to the combination of individual evaluation and team evaluation. Explore special evaluation methods for teachers’ scientific research in special fields such as national defense science and technology. For those who have achieved major theoretical innovations, made breakthroughs in cutting-edge technologies, solved major engineering and technical problems, and made significant contributions to the development of economic and social undertakings, the papers may not be subject to restrictive requirements when applying for senior titles.

　　13. Promote the return of talent titles to academic and honorary. Effectively streamline the talent "hat" and optimize and integrate various talent plans in the field of education. The title of talent shall not be regarded as a restrictive condition for undertaking scientific research projects, job title evaluation and employment, appraising awards and degree point declaration, and the relevant declaration form shall not be set up to fill in the column of talent title. According to the actual contribution, the salary of talents should be reasonably determined, and the title of talents should not be simply linked to material interests. Encourage those who have won the title of "Changjiang Scholar" and other talents in universities in the central and western regions and northeast regions to sign long-term service contracts with the schools, so as to contribute to the implementation of national and regional development strategies.

　　(D) Reform the evaluation of students and promote the all-round development of morality, intelligence, physique, beauty and labor.

　　14. Establish the concept of scientific success. Adhere to morality first, ability first and all-round development, adhere to the principle of facing everyone, teaching students in accordance with their aptitude and integrating knowledge with practice, resolutely change the practice of labeling students with scores, innovate the process evaluation method of morality, intelligence, physique and beauty, improve the comprehensive quality evaluation system, and effectively guide students to strengthen their ideals and beliefs, cultivate patriotic feelings, strengthen their moral cultivation, increase their knowledge and experience, cultivate their spirit of struggle and enhance their comprehensive quality.

　　15. Improve moral education evaluation. According to students’ physical and mental characteristics at different stages, we should scientifically design all kinds of educational and moral education objectives and requirements, guide students to develop good ideological and moral, psychological quality and behavior habits, inherit the red gene, enhance the "four self-confidences", and be determined to listen to and follow the party, take root in the people and contribute to the country. Through information technology and other means, explore effective ways for students, parents, teachers and communities to participate in the evaluation, objectively record the daily performance and outstanding performance of students’ conduct, especially the practice of socialist core values, as an important content of students’ comprehensive quality evaluation.

　　16. Strengthen sports evaluation. Establish an examination mechanism that combines daily participation, physical fitness monitoring and special sports skills testing, and take meeting the requirements of national students’ physical health standards as an important part of education and teaching assessment, so as to guide students to develop good exercise habits and healthy lifestyles, temper their strong will and cultivate the spirit of cooperation. Primary and secondary schools should objectively record students’ daily sports participation and physical health monitoring results, and give feedback to parents regularly. Improve the content, method and scoring method of physical education test in senior high school entrance examination, and form an effective mechanism to encourage students to strengthen physical exercise. Strengthen the evaluation of college students’ physical education and explore offering physical education courses at all stages of higher education.

　　17. Improve the evaluation of aesthetic education. Incorporate primary and secondary school students’ learning of music, fine arts, calligraphy and other art courses and their participation in art practice activities organized by the school into their academic requirements, promote students to form artistic hobbies, enhance their artistic literacy, and comprehensively enhance their ability to feel, express, appreciate and create beauty. Explore the inclusion of art subjects in the pilot reform of the senior high school entrance examination. Promote colleges and universities to incorporate public art courses and art practice into talent training programs, implement credit system management, and students can only graduate after completing the required credits.

　　18. Strengthen the evaluation of labor education. Implement the guiding outline of labor education in universities, primary and secondary schools, clarify the objectives and requirements of labor education in different classes and grades, and guide students to advocate and respect labor. Explore the establishment of a labor list system, clarify the specific content and requirements for students to participate in labor, so that students can develop labor habits in practice, learn to work, and learn to be diligent. Strengthen the process evaluation, and include the participation in the study and practice of labor education courses into the students’ comprehensive quality files.

　　19. Strict academic standards. Improve the academic requirements of students at all levels and schools, and strictly control the export. For junior and senior high school graduating students, the school must reasonably arrange educational activities from the end of the college entrance examination to the summer vacation. Improve the academic evaluation system that organically combines process assessment with result assessment, strengthen classroom participation and classroom discipline examination, and guide students to establish a good style of study. Explore the pilot sampling work of bachelor’s degree thesis (graduation project), improve the sampling work of doctoral and master’s degree thesis, and seriously deal with all kinds of academic misconduct. Improve the practice (training) assessment methods to ensure that students fully and truly participate in the practice (training).

　　20. Deepen the reform of the examination enrollment system. We will steadily push forward the reform of the college entrance examination, build an examination content system to guide students’ all-round development in morality, intelligence, physique, beauty and labor, change the relatively solidified form of examination questions, enhance the openness of examination questions, and reduce the phenomenon of rote memorization and "mechanical brushing". Accelerate the improvement of the construction and use of junior and senior high school students’ comprehensive quality files, and gradually change the enrollment model that simply takes test scores as the sole criterion. Improve the enrollment method of "cultural quality+vocational skills" examination in higher vocational education. Deepen the reform of postgraduate examination enrollment, and strengthen the examination of scientific research and innovation ability and practical ability. Schools at all levels and types are not allowed to compete for students in violation of regulations by setting bonuses. Explore the establishment of a credit bank system, promote the recognition, accumulation and transformation of various forms of learning results, realize the interconnection between different types of education, academic and non-academic education, on-campus and off-campus education, and smooth the channels for lifelong learning and talent growth.

　　(E) Reform the evaluation of employment and jointly create a good environment for the development of education.

　　21. Establish a correct orientation for employing people. Party and government organs, institutions and state-owned enterprises should take the lead in reversing the employment orientation of "only prestigious schools" and "only academic qualifications", establish a talent use mechanism oriented by morality and ability and aiming at job demand, change the "high consumption" of talents, and form a good situation of dropping talents without sticking to one pattern.

　　22. Promote the suitability of people and posts. The recruitment of civil servants at all levels, institutions and state-owned enterprises should make reasonable recruitment conditions and determine the educational level according to the job requirements. In the recruitment announcement and actual operation, the graduation institution, study experience outside the country (territory) and learning methods should not be used as restrictive conditions. Vocational school graduates are treated equally with ordinary school graduates in terms of settlement, employment, participation in recruitment of government agencies, enterprises and institutions, evaluation and employment of professional titles, and promotion of job ranks. Employers should scientifically and reasonably determine job responsibilities, adhere to the principle of fixed salary by post, remuneration according to work, and excellent remuneration for excellent work, and establish an incentive mechanism that emphasizes performance and contribution.

　　Third, organize the implementation

　　(1) Implementing the responsibility for reform. Party committees and governments at all levels should strengthen organizational leadership, put deepening the reform of education evaluation on the important agenda, and clearly implement measures according to the requirements of this plan and the actual situation. Leading groups for education work of party committees at all levels should strengthen overall coordination, publicity and guidance, and supervise implementation. The relevant departments of the central and state organs should combine their responsibilities and formulate supporting systems in a timely manner. Schools at all levels and types should pay close attention to implementation and effectively get rid of the stubborn disease of "five talents". The state and provinces (autonomous regions and municipalities directly under the Central Government) choose qualified places, schools and units to carry out pilot projects and play a leading role in demonstration. Educational supervision should take the promotion of educational evaluation reform as an important content, urge and correct those who violate relevant regulations, and severely deal with relevant responsible personnel according to regulations and laws.

　　(2) Strengthening the construction of specialization. Establish an evaluation system with multi-participation of government, schools and society, establish and improve a unified and responsible education evaluation and monitoring mechanism for education supervision departments, and give play to the role of professional institutions and social organizations. Strictly control the number and frequency of educational evaluation activities, reduce multi-head evaluation and repeated evaluation, and effectively reduce the burden on grassroots and schools. All localities should innovate the guiding methods of teaching and research work in basic education, and strictly control the random inspection and evaluation of schools and students by examination. Innovative evaluation tools, using artificial intelligence, big data and other modern information technologies, explore the whole process of longitudinal evaluation of students’ learning situation in all grades, and horizontal evaluation of all elements of morality, intelligence, body, beauty and labor. Improve the application of evaluation results, and comprehensively play the role of guidance, identification, diagnosis, regulation and improvement. Strengthen the construction of teachers’ educational evaluation ability, support qualified universities to set up educational evaluation, educational measurement and other related disciplines, and train educational evaluation professionals. Strengthen the construction of the national education examination work team and improve the incentive mechanism for teachers to participate in proposition and examination work. Actively carry out international cooperation in education evaluation, participate in the monitoring and evaluation of the implementation of the educational objectives of the United Nations 2030 Agenda for Sustainable Development, highlight the China concept and contribute to China’s programs.

　　(3) create a good atmosphere. Party and government organs, institutions and state-owned enterprises should perform their duties and promote the whole society to form a scientific concept of selecting and employing people. The news media should strengthen the propaganda and interpretation of science education concepts and reform policies, reasonably guide expectations, and enhance social consensus. Construct a family education guidance service system covering urban and rural areas, and guide parents to establish a correct view of education and success. All localities should summarize, publicize and popularize the successful experiences and typical cases of educational evaluation reform in a timely manner, expand the radiation area and improve their influence.

＂Rough treatment of the elderly selling sugar cane＂ attracted attention： outsourcing should not be abandoned, and supervision should be strengthened on outsourcing services.

　　□ Our reporter Zhao Li

　　□ Intern Sheng Jie of this newspaper

　　On the street, a number of workers dressed in "city appearance" uniforms gathered around a bicycle, carrying bundles of sugar cane from the bicycle to a small Picari with the words "city appearance" printed on it. After the basket was emptied, the old man selling sugar cane stood in the street and cried … …

　　Recently, the "rough treatment of the elderly selling sugar cane" in Sanxing Town, Nantong City, Jiangsu Province has aroused great concern in society. The government of Samsung Town reported that the personnel of the third-party city appearance company who bought services for Samsung Town dressed in "city appearance" uniforms. Subsequently, the Disciplinary Committee of Haimen District of Nantong City intervened in the investigation, and many people in the Samsung Town Government were punished.

　　With the continuous fermentation of this matter, people have a heated discussion on whether the law enforcement work can be entrusted to a third-party company, whether the law enforcement by third-party personnel is legal and how to regulate it. The "Rule of Law Daily" reporter interviewed three experts in administrative law, and the experts agreed that it is illegal to outsource law enforcement and send personnel from third-party companies to the streets to enforce the law.

　　"The rude and barbaric behavior of the personnel dispatched by the third-party company in Nantong has adversely affected the local government. ‘ Outsourcing ’ It must be implemented in strict accordance with the principle of the operating mechanism of the government’s purchase of services to prevent deformation. " Wang Yukai, a professor at the Central Party School (National School of Administration), said that in the above-mentioned incident, although it was the personnel sent by a third-party company who "encircled and robbed" sugar cane, it should be regarded as a duty behavior, belonging to the seizure of property, which is an administrative compulsory measure stipulated by the administrative compulsory law.

　　"Third-party companies send personnel as assistants of administrative law enforcement personnel, not law enforcement subjects, and cannot enforce the law independently." Wang Yukai said that the Measures for Urban Management Law Enforcement issued by the Ministry of Housing and Urban-Rural Development in 2017 stipulates that the competent department of urban management law enforcement can allocate urban management law enforcement assistants to cooperate with law enforcement personnel in law enforcement assistance; The legal consequences arising from the co-management personnel engaging in law enforcement auxiliary affairs shall be borne by the competent department of urban management law enforcement at the corresponding level.

　　"According to the provisions of the Administrative Enforcement Law, only an administrative organ or a non-administrative organ authorized by laws and administrative regulations can take enforcement measures, and Nantong third-party company is engaged in the outsourcing of city appearance management provided by the local government, which is a kind of entrustment, not authorization. Therefore, it is against the administrative enforcement law for employees of this company to detain hawkers’ sugar cane and take administrative enforcement measures." Yang Xiaojun, a professor of politics and law teaching and research at the Central Party School (National School of Administration), said.

　　Yang Xiaojun told reporters that those who can take to the streets to enforce the law must obtain the law enforcement qualification certificate issued by the competent department through examination. The personnel dispatched by Nantong third-party company have no law enforcement power, but they can do some work like cleaning, exposing small advertisements and cleaning graffiti.

　　Wang Yukai believes that the "rough treatment of the elderly selling sugar cane" incident exposed some problems existing in third-party companies and public service buyers:

　　First, outsourcing services are strictly regulated and cannot be arbitrary. The above-mentioned events exposed the mode of purchasing services, and there were problems in the implementation process, and the grass-roots government departments that purchased services needed to bear the responsibility;

　　Second, third-party companies should ensure the basic quality of personnel, including personnel training, operation mechanism and principle norms. In this regard, the third-party company must be responsible for the above incidents, and the recruited personnel do not match the duties to be performed;

　　Third, this incident is not a case. When purchasing services, grass-roots governments must strictly check and make clear which items can be purchased from the society and which items cannot be purchased. At present, the law clearly stipulates that the affairs with law enforcement power should not be governed by purchasing services. If the national policy allows the purchase of services through third parties, strict norms and operating mechanisms should also be formulated.

　　The reporter checked the public information and found that in recent years, service outsourcing was regarded as a measure to solve the urban management problem. At present, Shanghai, Shenzhen, Guangdong, Qingdao, Shandong and other cities have adopted this market-oriented operation mode. In June this year, Qingdao local media published a document introducing that 128 "outsourcing service teams" with a total of more than 4,900 people have been built in the local area.

　　In Wang Yukai’s view, first of all, we should affirm the role of government purchasing services in the whole process of public affairs, and we should not fundamentally deny the whole service model and governance model because of an accident. The government service outsourced by the third party is an innovative model of government management after the reform and opening up. After the implementation of this model, the benefits are still obvious, such as reducing the administrative establishment of the government, saving government expenses and improving the efficiency of government service. It is also a global trend that some non-law enforcement and transactional work is purchased by the government and undertaken by social third-party service organizations.

　　Secondly, in the process of purchasing services, the state has strict regulations. Generally, some matters with law enforcement power cannot be directly entrusted to a third party. Even co-managers hired by public security departments or urban management departments and dispatched by third-party companies can only play a role in assisting law enforcement. The law enforcement power is still carried out by formal public security police or urban management personnel. In the process of dispatching by a third-party company, the dispatched personnel need to have certain literacy according to the requirements of government departments, which is the minimum condition.

　　"Generally speaking, the government’s external purchase of services is usually transactional or technical. Some professional and technical work, such as the construction of platforms and systems in the construction of digital government, the government itself does not have or lacks such technicians, and can only find professional companies to help. " Yu Lingyun, a professor at Tsinghua University Law School, said.

　　According to reports, in order to avoid the abuse of law enforcement power, administrative enforcement law, administrative punishment law and other laws have strictly limited the subject of law enforcement. The administrative compulsory law stipulates that administrative compulsory measures shall be implemented by administrative organs as prescribed by laws and regulations within the scope of statutory functions and powers. The power of administrative compulsory measures shall not be entrusted. No subject other than the administrative organ may take administrative compulsory measures against citizens.

　　Experts interviewed believe that although the Administrative Punishment Law leaves a gap for entrusting law enforcement, it strictly limits the organizational conditions entrusted, including "being established according to law and having the function of managing public affairs" and "having staff who are familiar with relevant laws, regulations, rules and businesses and have obtained administrative law enforcement qualifications", so as to ensure that law enforcement does not deviate from the law enforcement subject.

　　"Even if it is suitable for outsourcing services, local governments should effectively restrain them. First of all, the government should formulate strict standards and norms, including the content of services to be purchased, how to provide services, and what conditions to meet before being eligible for contracting. There must be clear and strict checks on the qualifications of service companies, especially on the quality of personnel and personnel training. " Wang Yukai said that the relevant government departments should dynamically check and supervise the behavior and process of third-party service provision, and timely terminate the contract or investigate the responsibility if it does not meet the requirements, so that third-party service organizations can provide services in a standardized and orderly manner.

　　"Services that are not suitable for outsourcing should be recovered immediately and provided by local government departments. I think it is necessary for all localities to sort out what is outsourced under the name of service outsourcing, and whether there is management power and law enforcement power. " Yang Xiaojun suggested that for services suitable for outsourcing, local governments should make public announcements, have supervision standards and mechanisms for outsourcing, and train, educate and standardize the personnel dispatched by outsourcing companies. "If you can’t pay the money, you can leave it alone. That’s called package dumping, not outsourcing."

[Great Oriental Tide, New Era of Endeavour] The end of the 2018 Digital Expo attracted 120,000 people to watch the exhibition and signed 199 investment projects.

　　The 2018 China International Big Data Industry Expo, co-sponsored by the National Development and Reform Commission, the Ministry of Industry and Information Technology, the National Network Information Office and the Guizhou Provincial People’s Government, came to an end on the 29th. The annual theme of the conference is "integrating all things with digital intelligence", and it revolves around "two sessions in the same period, one exhibition, one competition and a series of activities". A total of opening and closing ceremonies, eight high-end dialogues, 65 professional forums, 40 results release, 81 investment promotion and 278 business visits were held, and 199 investment projects were signed, with an amount of 35.28 billion yuan.

　　Participants agreed that the 2018 Expo highlights the charm of data, the beauty of intelligence and the way of integration. On the basis of the previous three conferences, the level of internationalization, specialization, industrialization and marketization has been significantly improved, and the influence is getting bigger and bigger. The brand awareness is getting higher and higher, and the Expo has become the vane of global big data development and an authoritative international platform for the industry.

[Great Oriental Tide, New Era of Endeavour] The end of the 2018 Digital Expo attracted 120,000 people to watch the exhibition and signed 199 investment projects.

　　In addition, the 2018 China E-commerce Innovation and Development Summit held in the same period, with the theme of "new e-commerce leads new integration, and the new era promotes new development", held the CEO salon, the main forum, eight sub-forums and the annual ceremony, and released the "2017 China E-commerce Development Index Report", which selected ten awards such as the annual smart business technology model, the annual transformation enterprise and the annual cutting-edge figure, and reached the Guiyang consensus of the summit, becoming the e-commerce field.

　　In view of the achievements of this Expo, the organizing Committee said: First, the results of attracting investment and attracting talents have been remarkable. During this period, the provinces and cities held a series of investment promotion activities, with rich results and obvious effects. According to preliminary statistics, up to now, Guizhou has successfully signed 199 projects with an amount of 35.28 billion yuan, including 108 projects with an amount of 22.16 billion yuan in Guiyang.

　　Second, the theoretical results of big data are more fruitful. For the first time, the conference released some frontier research works on big data, such as White Paper on Digital Economy and Digital Governance 2018, Digital China, Blockchain+Empowering Digital Economy, Valley Counting in China: Big Data Leading Green Rise, Block Data 4.0: Active Data Science in the Age of Artificial Intelligence, Blue Book of Big Data: China’s Big Data Development Report NO.2, Case Series of Excellent Products and Application Solutions of Big Data. For the first time, the 2018 urban data security index jointly researched by 360 Key Laboratory of Data Security and other units, the forest index jointly researched by Fudan University and other units were released, and the 2018 White Paper on China Digital Economy Index was also released.

　　Third, the concept of integration and innovation is deeply rooted in the hearts of the people. Through the continuous implementation of the big data strategic action and the successful holding of the fourth Digital Expo, the big data industry in Guizhou Province has flourished, and the political, commercial and civil use of big data has achieved remarkable results, which has profoundly affected all fields of economic and social development and injected a strong impetus into high-quality development.

　　Fourth, public participation continued to increase. In addition to professional visitors, this year’s Digital Expo attracted more than 70,000 people to buy tickets at their own expense to watch the exhibition and experience the charm of cutting-edge technology, especially the special theme experience halls such as AR, VR and AI, which were extremely popular and queued up to experience the latest wearable devices, smart homes and terminal experience projects. (Reporter Li Zhengyi)

The official price of iPhone 16 Pro mobile phone is 7999 yuan, and the hand price is 7959 yuan, which surprises your glasses.


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This iPhone 16 Pro 5G phone has powerful performance and beautiful appearance. First of all, in terms of performance, it is equipped with A18 Pro chip, which is 20% faster than A17 Pro and reduces power consumption by 20% while providing the same performance. Secondly, the camera has also been fully upgraded. The rear 48MP main camera is the second generation four-in-one pixel sensor, which supports 48MP ProRAW and HEIF photos. …

Break through 90,000 columns! The ＂accelerated running＂ of China-Europe trains has helped China-Central Asia cooperation to show a good momentum.

CCTV News:Since the opening of China-Europe trains in 2013, the number of trains has increased year by year. As of May 25th, the cumulative number of trains has exceeded 90,000, and the goods delivered have exceeded 8.7 million TEUs. Where do the goods on these China-Europe trains come from, and how can they be concentrated and grouped before they can enter the China-Europe trains? Let’s watch the reporter’s visit together.

At Xi ‘an International Port, there are many containers full of goods, which will be sent to countries along the Silk Road through China-Europe trains. In order to make China-Europe trains run more efficiently, in October 2022, Xi ‘an land port Multimodal Transport Co., Ltd. and China State Railway Group Co.,Ltd. and German railway companies opened the "Xi ‘an — Duisburg domestic and foreign full-time schedule trains ",the full-time schedule trains strictly implement the stop time standard at home and abroad, and adopt the principle of" priority grouping, priority hanging and priority departure ",which effectively shortens the operation time of all links in China-Europe trains.

Zhang Xiao, executive deputy general manager of Xi ‘an land port Multimodal Transport Co., Ltd., said: "The whole time schedule from Xi ‘an to Duisburg is 12 days, which is 5-mdash higher than that of ordinary trains; Eight days. At present, we have achieved the frequency of shipping once every two weeks, which has improved the transportation capacity while ensuring the transportation timeliness. "

After the goods are assembled, the plan acceptance of the China-Europe train and the declaration of the temporary train transfer order will be started. In the international port business department of Xi ‘an Railway Logistics Center, the China-Europe train receiver is checking the information content of the train through the 95306 freight platform to ensure accuracy. After checking the information, the next step is to check the goods. The staff of China Railway Container Group will check the goods of China-Europe trains every day according to the operation requirements.

After completing the above-mentioned series of processes, the goods can be loaded on the China-Europe train and ready to be sent to the destination. Before departure, there is another important link, that is, grouping.

Huang Chaowei, the instructor driver of Xi ‘an International Port Station, said: "For example, after the cars from Yiwu or Ningbo or Baoji are gathered at this station, they will be disassembled and grouped. For example, they need to be sorted and grouped here through Alashankou to Hamburg, Germany, and the cars in the same direction will be grouped together and then headed for Hamburg, Germany."

There are 59 lines in Xi ‘an International Port Station, and the annual railway freight handling capacity can reach 66 million tons. Today, Xi ‘an International Port Station is the largest railway logistics center in northwest China and the distribution center of China-Europe trains inland.

Lu Ming, the stationmaster on duty at Xi ‘an International Port Station, said that the China-Europe train has been running about 15 times a day from two or three times a month in 2013, and there is a China-Europe train leaving or arriving at Xi ‘an International Port Station every day for an average of 1 hour and 40 minutes. At present, Xi ‘an International Port Station has become the station with the largest number of trains in China and Europe.

Changan injected new kinetic energy into the cooperation and development between China and Central Asia.

In recent years, with China — The cooperation mechanism in Central Asia has been continuously improved, and the cooperation between China and Central Asian countries has been deepened. Last year, the first China — The Central Asia Summit was successfully held in Xi ‘an. Over the past year, relying on the China-Europe train Changan, China — Central Asian cooperation has continued to develop, showing a good momentum of all-round advancement.

At Xi ‘an International Port Station, the Central European train loaded with daily necessities, photovoltaic equipment and new energy vehicles set sail, all the way to the west, and it is expected to arrive in Almaty, Kazakhstan after 7 days. In the past year, the China-Europe Chang ‘an made a breakthrough in its operation, with the normal operation of trunk lines from Xi ‘an to Almaty, Kazakhstan and Tashkent, Uzbekistan, and covering five Central Asian countries through multimodal transport.

In February this year, the Xi ‘an Wharf in Kazakhstan was officially put into use, and the journey from Xi ‘an to Tashkent was shortened from 13 days to 9 days, and the whole journey across the Caspian Sea was shortened from 20-mdash; 25 days was shortened to 12 days for stable operation. With the data interconnection between Chang ‘an digital integrated service platform and Harbin Railway, enterprises can book shipping space through mobile phones, and learn about the train information, goods status and arrival time, which greatly improves the transaction efficiency.

Sulu, a container logistics practitioner in Kazakhstan, said: "Since the Central Asia Summit, the monthly transaction volume of our company has increased. Before, we sent 1-mdash every month; 15 columns, and now we send more than 60 columns every month. "

Relying on the smooth sailing of the China-Europe train Changan, products with Central Asian characteristics are continuously introduced, and it takes only one week at the earliest from loading to selling on the shelves. From curiosity and early adopters to integration into people’s lives, all kinds of goods from Central Asia have been more and more loved by local people. Since the summer, the temperature in Xi ‘an has been rising all the way, and supermarkets have also launched a variety of newly arrived Kazakhstan ice cream to enrich the citizens’ choices.

Cui Yaxuan, a student, said: "I think there are more and more semi-finished or processed foods imported from Kazakhstan to China, and the close ties between China and other countries are getting better and better."

In addition, in order to further promote cultural exchanges between China and Central Asian countries, China — Central Asia International Humanities Tourism Train (Xi ‘an — Almaty) The preparatory work is progressing smoothly, and it is planned to be launched from the end of June to the beginning of July this year.