Category: E-commerce

Troubles in China’s property market are spreading beyond Evergrande

Spark Global Limited reports:

Instability sparked by troubles at Evergrande, China’s debt-laden property giant, is spilling over into the broader property market, which could hurt the country’s growth in coming years. Shares of troubled Chinese real estate giant Evergrande and its property management company were suspended in Hong Kong on Monday amid reports that a major deal was in the works.
Before evergrande was suspended, it looked as if another payment would be missed.

Hopson Real Estate, a Chinese rival, plans to take a 51 per cent stake in Evergrande real Estate, according to global Times, a Chinese state-owned newspaper. However, the deal has not been officially confirmed and trading in the shares remains suspended.
What the hell happened?
Evergrande legend
Evergrande, China’s most indebted property company, has made headlines in recent weeks for all the wrong reasons. Its share price has fallen 80% since the start of the year.
The company is struggling under $305bn in debt and last week missed a $47.5m bond payment. This came after it failed to pay $83.5m in coupons on some outstanding US dollar debt. Both have a 30-day grace period. So it is too early to say whether investors will suffer big losses (though the signs are not obvious). Now, Bloomberg says the troubled company will not be able to make a third payment: $260 million worth of bonds guaranteed by Evergrande Group. Since the maturity date is October 3, it actually falls due on Monday, and failure to do so will be considered a default as there is no grace period on the debt.

What’s the difference between a large cap and a small cap?

Spark Global Limited reports:

In this article, we’ll help clarify market capitalization, the difference between large-cap and small-cap stocks, and things to consider when trading both classes.
What is market value?
Market value is what investors value a company at a given point in time. This measure refers to the total value of a company’s outstanding shares.
Outstanding shares include all shares, including those available to the general investing public and restricted shares held and available by specific groups.
To calculate market value, you simply multiply the price of a stock by the total number of shares outstanding.

The formula
Market value = number of shares outstanding x price
For example, a company that sold 30 million outstanding shares at $10 a share would have a market value of $300 million.
Based on current market values, the stocks of listed companies are divided into large-cap, mid-cap and small-cap stocks. Some traders break it down further to include extreme small-cap and large-cap stocks.
Let’s dig deeper into large and small large enterprises.
What is a large-cap stock?
Large-cap stocks are stocks of companies with a market capitalization of $10 billion or more.
These companies dominate their industries and often have a significant impact on the economy.
Their businesses are more diversified and may include a wide range of services and products across multiple industries.
What is a small cap?
Small-cap companies typically have market values between $300 million and $2 billion.
They are usually new companies with financial difficulties or a focus on niche markets.
In general, small caps have a narrow business scope, operate in a few geographic areas and offer fewer services or products.
They also tend not to be profitable. They usually reinvest all their profits back into the company to help it grow.
The large-cap example
In the United States, examples of large companies include jpmorgan Chase (NYSE: JPM), Amazon (NASDAQ: AMZN), Microsoft (NASDAQ: MSFT), Coca-Cola (NYSE: KO), General Motors (NYSE: GM), and Disney (NYSE: DIS), both of which are established giants with good positions in their respective industries.
The small-cap example
Consider a company like Copus Holdings (NYSE: KOP), which currently has 21 million shares outstanding and trades at $33 per share. As a result, its market value is €696 million.
Other small-cap companies include Zynex Medical (NASDAQ: ZYXI), Regenxbio (NASDAQ: RGNX) and Ontrak (NASDAQ: OTRK). Small-cap companies are generally seen as more sensitive to the economic cycle than large-cap companies.

Suspected of bribing Indian officials, the Indian government: will investigate Amazon

Spark Global Limited reports:

India’s New Delhi TV reported on the 21st that the Indian government said on the same day that it would investigate Amazon, a world-renowned e-commerce company suspected of bribing Indian officials. Amazon is also believed to have launched an investigation into the matter.

According to reports, the public account data of Amazon’s India branch showed that the company’s legal expenses in the two years were nearly 85 billion Indian rupees (about 7.46 billion yuan). An Indian official said, “It’s time to consider where the money is spent. Amazon’s entire system seems to be bribing, which is by no means the best business practice. For the Indian government, it will adopt a zero tolerance approach to all internal corruption. .”

Some Indian media said that independent lawyers employed by Amazon’s India branch “flowed part of the cost to government officials.” After receiving the report, Amazon has launched an internal investigation into some legal representatives. The company’s senior legal adviser in New Delhi is said to have been on leave during the investigation. Amazon has not confirmed or denied the allegations, but also said it will have “zero tolerance for corruption.” According to Amazon executives, the incident under investigation is quite old. However, if the allegations are true, it violates the US Foreign Corrupt Practices Act. According to the Times of India, many companies in the United States have been fined by the Act for bribery in India for many years. (Hao Shuangyan)

Tasly: the first repurchase of about 460,000 shares

Every AI newsletter, Tasly (SH 600535, closing price: 13.44 yuan) issued an announcement on the evening of June 25, stating that the company will repurchase approximately 460,000 shares for the first time on June 25, 2021 through a centralized bidding transaction. The repurchased shares accounted for 0.0302% of the company’s total share capital. The highest transaction price was 13.47 yuan/share, the lowest price was 13.38 yuan/share, and the total amount paid was 6.129 million yuan.

The 2020 annual report shows that Tasly’s main business is pharmaceutical commerce, traditional Chinese medicine, chemical preparation medicine, biological medicine, and chemical raw material medicine, accounting for 52.46%, 32.9%, 12.13%, 1.59%, 0.39% of revenue, respectively.

The chairman of Tasly is Yan Kaijing, male, 42 years old, Chinese nationality, PhD degree, Doctor of Chinese Medicine from Tianjin University of Traditional Chinese Medicine, and Master of International Securities, Investment and Banking from University of Reading, UK. The general manager of Tasly is Su Jing, male, 58 years old, bachelor degree, graduated from Zhongshan Medical University.

Daoda (1997) “Individual Stock Trend” reminder:

1. Tasly’s northbound capital holdings decreased by 80,900 shares in the past 30 days, and the proportion of shares in circulation decreased by 0.00%;

2. No organization has conducted research on Tasly in the past 30 days. For more key information, please search for “Dao Dahao”.

 

Every Jing Toutiao (nbdtoutiao)-selling a few pieces of curtain cloth will also lead to a copyright lawsuit! Small merchants call wronged: Why not sue the manufacturer, is “fishing rights protection” legal?

Bosideng, who made 1.7 billion last year

Against the backdrop of the strong market, Bosideng, China’s largest branded down jacket manufacturer, hit a new high in its stock price on June 21, and its market value once exceeded HK$53 billion.

Bosideng, who made 1.7 billion last year

Immediately on June 23, the 2021 fiscal year performance report was announced.

In terms of fundamental data, Bosideng’s revenue in fiscal 2021 has achieved new growth, which is basically in line with the earnings pre-announcement issued. The same is true in terms of net profit, achieving a substantial increase of 42.1% year-on-year.

The issuance of the financial report did not gain the optimism of the capital market. The Hong Kong stock market opened the Bosdeng share price once fell nearly 3.5% the next day.

With the rise of self-confidence in the consumer culture of the post-95s and even post-00s, and the continuous fermentation of the “Xinjiang Cotton” incident, domestic brands have become popular, and brands such as Bosideng, Li Ning, and Anta have become popular among the public.

In the era of the rising tide of the country, what is the specific performance of Bosideng’s financial report this fiscal year? With the “fake products rampant” of Canada goose, what will happen to Bosideng’s high-end? By disassembling this financial report, part of the logic may be glimpsed.

Annual revenue fell short of expectations, and the main brand still accounted for the majority

Let’s first look at the basic data of this financial report.

According to the latest financial report data, in the 2021 fiscal year, Bosideng’s revenue reached 13.517 billion yuan, an increase of 10.5% compared to last year, which was lower than the 14.03 billion yuan expected by the market and investment institutions.

Among them, the revenue in the second half of the 2021 fiscal year reached 8.856 billion yuan, an increase of 14.2%. Comparing the first half of the year, it can be found that the revenue growth in fiscal 2021 is mainly due to the rapid increase in performance in the second half of the year, which also shows that Bosideng’s revenue growth is related to seasonal factors.

Specific to each business:

At present, Bosideng’s business segments are mainly divided into four categories. Among them, branded down apparel business and OEM processing management business are Bosideng’s two main revenue growth points. As of the end of March, branded down apparel business revenue reached 10.889 billion yuan, a year-on-year increase of 14.5%; OEM processing management business achieved revenue of 1.536 billion yuan, a year-on-year decrease of 4.7%.

From the revenue ratio, it can be seen that in fiscal 2021, the branded down apparel business will account for an increase in overall revenue to 80.5%. In fact, this may be related to Bosideng’s current strategy.

At present, Bosideng still regards the down apparel business as the main development direction of the group. On the current basis, Bosideng has strengthened its down apparel sales channels by opening e-commerce operations and channel construction. During the reporting period, Bosideng’s flagship store on Tmall had more than 4.76 million members, an increase of 160% year-on-year, and the amount of repurchase members accounted for 26.9% of the total offline sales. From the perspective of the breakdown of down jacket brands, Bosideng achieved revenue of 99.94 billion yuan, a year-on-year increase of 18.9%. The main growth was the main brand Bosideng.

This has also strengthened the increase in gross profit. The financial report shows that as of the end of March, Bosideng’s gross profit reached 7.924 billion yuan, an increase of 18.1% year-on-year. What can be found is that the growth rate of gross profit in this fiscal year is significantly higher than that in fiscal year 2020, which also means that Bosideng’s current sales and cost control have improved, and the gross profit margin has also increased from the original 55% to 58.6. %.

This also stems from the market’s more focus on cost and expense investment. Bosideng’s investment in marketing expenses slowed down in fiscal 2021, reaching 4.807 billion yuan, a year-on-year increase of 12.42%, which is one step closer to the 24.32% in fiscal year 2020. reduce.

In addition, it is worth noting that in fiscal 2021, the proportion of branded down apparel business revenue is a step up compared to fiscal 2020, and the development of various businesses is uneven. In fact, this is not good for Bosideng’s long-term development. . In the 2021 fiscal year, the branded down apparel business accounted for more than 80% of its revenue. It can be seen that Bosideng still has a high dependence on down apparel sales.

From this point of view, Bosideng’s revenue and business performance in this fiscal year are worthy of recognition, but the business structure and reliance on the sales of branded down jackets will still be the next problems Bosideng will face.

Net profit has increased by more than 40% year-on-year, and brand down is Bosideng’s “real thigh”?

Financial report data show that Bosideng’s net profit in fiscal 2021 reached 1.71 billion yuan, an increase of 42.1% year-on-year in fiscal year 2020. Basic earnings per share this fiscal year reached 0.16 yuan per share, exceeding the profit expectations of Bosideng and institutions.

Previously, many brokerage agencies and analysts had forecasted Bosideng’s 2021 fiscal year data, and the average predicted net profit for the 2021 fiscal year was 1.684 billion yuan.

It is worth noting that the sharp increase in net profit in this fiscal year has achieved new growth compared to the growth rate of net profit in fiscal year 2020. The net interest rate in fiscal year 2021 has reached 12.65%, which is an increase of 2.73% compared to 9.87% in the same period last year. Moncler is more intuitive, with revenue of about 1.44 billion euros in 2020, a year-on-year decrease of about 11%. In addition, the growth rate of net profit has also declined significantly.

In recent years, Bosideng’s down jacket series have moved closer to high-end, covering different consumer groups. In terms of product unit prices, the average selling price of domestic down jackets has steadily increased, and Bosideng’s mid-to-high-end market (1200 yuan and above) has continuously increased its product revenue. Last year During the Double 11 period, the average unit price of Bosideng’s flagship store increased by 68.68% to 1,034 yuan. It can be seen that the price positioning proves Bosideng’s high-end brand route.

In addition, Bosideng still maintains a continuous force in the low-end market. At present, in Bosideng down apparel products, the category with a price of 500-1000 still occupies more than 20% of the proportion.

This has driven the sales of Bosideng products to a new high. In January this year, data from many weather stations across the country showed that the local temperature had exceeded the historical extreme value, which greatly stimulated the demand for down jacket products.

Bosideng has also incorporated Chinese elements into its product design, which has also made it popular in overseas markets. According to data from Ipsos, the world’s top three market research institutions, Bosideng’s awareness among consumers reached 97%, the first mention rate was 60%, the NPS reached 50, and the reputation reached 8.72. Bosideng is ranked as the “most valuable in the world in 2021”. Among the 50 clothing and fashion brands, the only domestic brands on the list are Bosideng and Anta.

But looking carefully, Bosideng’s branded clothing business as its main business will be affected by the seasonal effect to a certain extent. In winter, Bosideng’s high sales season, but few consumers will be in the three seasons of spring, summer and autumn. During the purchase of down jackets.

Warm and cold winters will also affect the enthusiasm of consumers to buy down jackets. Although all down jackets are transforming into the fashion field, most of the down jackets still remain rustic and bulky in the minds of consumers. The greatest effect of down jackets is to keep warm. , Then, when the temperature is not low enough, it is difficult for consumers to focus on down jackets.

In Bosideng’s market segmentation, overseas markets account for a certain proportion. However, in the international market, consumers have a higher purchase rate for Canadian goose and international brands such as North and Moncler. In recent years, Canadian goose and North players have It is still going deep into the hinterland of Bosideng in order to open up the Chinese consumer market, which has an impact on Bosideng’s market share to a certain extent.

Based on the above, although the net profit for this quarter is within the forecast range and has achieved substantial growth compared to the 2020 fiscal year, the main business is facing double attacks from Canada Goose and Moncler, and the market also needs Bosideng to give more new stories.

Under the rising tide of the national tide, how does Bosideng wear a “high-level sense”?

Speaking of Bosideng, the “brand upgrade” mentioned the most in recent years.

In 2017, Bosideng proposed the strategy of “diversification, four seasons, and internationalization”, but in 2018, it clearly defined the main direction of “focusing on the main channel, focusing on the main brand, and shrinking diversification”, and then embarked on Milan Fashion Week and London Fashion Week. Zhou, signed with big-name celebrities William Chan and Yang Mi as endorsements in 2020.

This series of operations made the market have a kind of “illusion” that Bosideng has changed from “the down jacket that parents love to wear” to “the down jacket that all Hollywood stars are wearing”.

For consumers, the most intuitive feeling is that Bosideng’s products are becoming more and more expensive. According to Bosideng’s flagship store on Tmall, goose down products are basically priced at thousands of yuan, and 800+ series products are basically nearly 3,000. But in terms of sales volume, products around 100-300 sell better.

Bosideng chose to start from its own main brand. The idea is good, but its long-term brand tonality and product positioning make it not too much brand premium. This will also cause Bosideng to face an embarrassing situation: old users who value the price/performance ratio may be difficult to accept and digest, and capable consumers will think that Bosideng is not up to the standard.

In addition, as we all know, Moncler and Canada Goose have always been the two most popular brands in the down jacket industry. They are positioned in the middle and high-end consumer groups and are well-known for their high prices and outstanding performance.

Consumer loan black production counterattack

In the last 21st Century Business Herald’s contribution to the teaching series, “Consumer Loan Black Product Investigation: Unpaid Fees, Unable to Get Money”, it was mentioned that the consumer loan black and gray production gangs wear loan matching service companies or formal The cloak of the lending platform, through the pre-determined fraudulent process, makes the loan customers have been “killed four times in a row” before they successfully obtained the loan.

In fact, in addition to the existence of black and gray production gangs that deceive consumers in the name of lending, there is also a type of black and gray production gangs that “turn the gun” and target formal lending platforms or other financial institutions, not only by forging identities and Credit records help borrowers with low credit quality to borrow, and they also use false or real identity information to “fraud loans.”

A few years ago, a certain online small and micro loan product of a certain stock bank broke out with a large number of bad loans due to a large number of fraudulent loans. Among consumer loan products, black production is also a key target for financial institutions.

“Deception” with fake and real

In the consumer loan black and gray industry chain for financial institutions, black and gray production gangs will mainly play two roles. One is a “black intermediary”, which helps borrowers solve the problem of “banking flow” by “packaging materials” and “whitewashing data”. This kind of business is also called “packaging loan” because of the loan qualification problems such as insufficient income and insufficient income. The other is to “fraud loans” by individuals or groups through fraudulent use of identities.

The most common operation of “packaging loans” is to “pack” loan clients as senior executives of shell companies, and at the same time lend them in the form of wages and form a bank flow. In May of this year, some media reported that after Mr. Zeng, a citizen, had applied for a loan of 2.1 million yuan through Hangzhou Kunshang Technology Co., Ltd., he discovered that the company had also changed a company to its own name. This is a typical feature of “packaging loans”.

According to analysis by industry insiders, the method of “packaging loans” is not clever, but the black industry chain that fraudulently uses identities to make malicious loans uses layers of technical means to “disguise”. In the process of personal information entry, the black and gray production gangs deceive the back-end systems of financial institutions by purchasing white account certificates, using simulators to generate fake certificates, and using packet capture software to “whitewash” data.

The so-called white account refers to users with blank credit status. A person familiar with the matter said that black and gray production gangs can buy ID cards at low prices from poor mountainous areas, rural areas, or unemployed vagrants, and then use ID cards to apply for mobile phone numbers, bank cards and USB shields. This is also known in the industry as ” Four-piece” or “YHK4”. Some black production gangs will also directly purchase “four-piece suits” from card dealers. However, according to industry insiders, the price of “four-piece suits” has risen from 400 yuan to 1,000 yuan, 2,000 yuan, and 6,000 yuan in the past two years. Many black industry gangs are “self-sufficient” and have all the “collecting cards-selling cards-defrauding loans” into their pockets, forming a complete industrial chain.

Dropped by nearly 90%

Therefore, instead of focusing on the summer enrollment battle, we might as well turn our attention to the preparation battle for the online education summer vacation (usually from March 1st to June 20th each year).

Dropped by nearly 90%

An intuitive feeling is that compared with last year, the marketing of this year’s online education summer preparation period has been significantly tightened: from the initial advertising disappeared in elevators, outdoor and other occasions, to the suspension of information flow advertising, and then to the suspension of official account delivery. .

In addition, the staff size of education and training institutions has also shrunk significantly. Many head organizations not only suspended recruitment of tutors, sales and other positions after May this year, but also recently been exposed by the media as “suspicion of breach of contract and violent layoffs”.

The reasons behind the occurrence of the above phenomenon are nothing more than two points: First, the official attitude to rectify the chaos in the education and training industry has become more obvious; second, the desire of the education and training institutions to “survive” is particularly obvious.

Against this background, this summer, the online education industry will probably not stage a fierce “summer file” battle as it did last year.

1. The daily consumption of advertising has shrunk by nearly 90%

Looking back at the online education industry in 2020, the most prominent phenomenon is the “advertising war” between institutions. It is not an exaggeration to describe it as “crazy”.

From applications such as Weibo, Moments, Douyin, Kuaishou and Iyoteng on mobile phones, to variety shows, evening shows and TV shows on TV, to subways, buses and elevators in public places, everyone can see it. There are almost all online education advertisements everywhere.

However, the turning point occurred in February this year. Since January this year, the advertisements of Yuanjiao, Job Gang and other institutions that have been broadcast on CCTV channels gradually disappeared from the public’s sight at the end of February. Since March, people have found in elevators, outdoor and other occasions that the advertisements of the originally “overwhelming” online education institutions have also been drastically reduced.

At the same time, Xueersi Online School, Yuanjiao, Homework Gang, Gaotu and other institutions have reduced their information flow (usually referring to the information flow on Douyin Kuaishou, WeChat Guangdiantong and Moments of Friends).

“In May, the head agencies have successively suspended the delivery of information streams. According to my observations, the time to completely suspend the delivery of information streams should be around the end of May.” Hu Yong, who has been in the online education industry for many years, revealed to Bullet Finance.

In addition, the WeChat public account release plans of some head organizations have also been suspended.

Zhu Lin, a regional self-media person, told Bullet Finance that on May 22, he and Li Jiang, the agency responsible for Gaotu’s advertising, preliminarily determined that there will be four on June 7, June 22, July 3, and July 18. Advertisement on the official account of the period.

Three days later, Zhu Lin received a message from Li Jiang, “I just received the customer’s notice that the strictest regulatory policy has come out, and everything is adjusted. Otherwise (let) vote before the 10th.” The original public account advertising schedule for June was different. Adjusted to June 14 and June 29, the July schedule remains unchanged.

However, what Zhu Lin did not expect was that on May 31, Li Jiang told him to suspend the previously agreed public account advertising. He explained that “the client (Gaotu) said that due to the country’s recent cooperation in online education, The regulatory review is becoming more and more stringent. According to the company’s overall strategic unified arrangement, it is now necessary to withdraw the schedules that have been set for the summer vacation from June to August.”

However, there are still some leading education and training institutions “repeatedly testing” at the edge of the policy red line, which is mainly manifested in the violation of the advertising of the institutions.

In May of this year, the Beijing Haidian District Market Supervision Administration and the Haidian District Education Commission issued the “Reminders on the Key Contents of Advertisements in the Education and Training Industry”, which mentioned that words such as famous teachers, famous schools, first-line, and enrollment rates should not be used for publicity.

Before the introduction of the new regulations, general online large-class class advertisements were promoted by the main lecturer in order to achieve the best “famous teacher promotion” effect, and the words “famous teacher teaching, entrance rate, prestigious school” and other words would be highlighted in the slogan.

“Before, a well-known online education institution directly let the lecturer to advertise on the camera, but now the content of its advertisement on the short video platform remains unchanged, and the person who appeared on the screen has been replaced by a teaching assistant or other person.” Wang, a senior practitioner in the field of online education Jun told Bullet Finance that the agency’s advertisement only changed the person who appeared on the screen, but there was still a risk of violations.

“According to my observation, a jingle before a physics class is taught by a teacher of a teaching and training institution. The content is compiled by the main lecturer of the physics class, and the voice is also the voice of the main lecturer. It is just a change of personal appearance.” Wang Jun said.

Wang Guosheng, the founder of Beijing Literacy Mathematics Artificial Intelligence Laboratory, also mentioned that the routine of “how many mandatory test points and how many big tricks” was used in the advertisements of some institutions is still used by many institutions. “But from the teacher’s point of view, the notion of how many knowledge test points are sold to students is not scientific in itself, and it is also selling anxiety to parents.”

What needs to be mentioned is that both the reduction of marketing position and the scale of delivery have brought about a sharp drop in the average daily investment amount of online education institutions.

“Bullet Finance” obtained a reliable data from Hu Yong: during the period from May 1 to May 26, 2020, the daily average of Xueersi Online School, Ape Guidance, Job Gang, Gaotu, etc. The investment amount reached 7-8 million yuan; and during the period from May 1 to May 26 this year, this figure was updated to 1 to 2 million yuan, a sharp decrease of 85.71% year-on-year.

It is not difficult to see that the previous wave of launches by various agencies as if they were in a collective competition “ebbed” overnight.

2. Fancy marketing to save yourself

In fact, even if limited by the situation, the large-scale marketing activities of various agencies were stopped, but the online large-scale class agencies did not give up the idea of ​​marketing and promotion because of this. After all, “surviving” is particularly important at this time.

Selling lectures in live broadcast rooms on short video platforms is currently one of the most popular marketing methods in the industry. Hu Yong revealed to “Bullet Finance” that online education institutions sell courses in the live broadcast rooms, basically selling low-cost courses, but the problem is that no live broadcast will always sell the same single product, multiple single products or best-selling products. Explosive products are the norm for live streaming. Therefore, this method can only wash the amount for a short period of time. “Long-term users are washed by the same batch of lessons, and the more they do it, the worse the effect.” He said.

Due to the increased pressure on the marketing side, a number of online organizations have also placed their hopes on telemarketing (hereinafter referred to as “e-marketing”).

As usual, in April and May every year, education and training institutions recruit a large number of e-sales personnel. Last year, affected by the epidemic, students were unable to get to school. Under the call of the Ministry of Education to “suspend classes without stopping”, online education institutions have played the trump card of “free classes”.

According to Wang Jun’s recollection, in the early days of the epidemic, teachers in schools were generally not very comfortable with online teaching. Therefore, school teachers will recommend free online lessons from ape tutoring, homework assistant and other institutions to students during class. “Each teacher basically recommends 3-4 times a week to the parents of students, so the awareness of these brands is very high during that period. After the students’ audition is over, the agency’s sales document will generally be successful.”

But this year, school teachers may only recommend online courses from institutions once every two weeks. “If it’s not for the holidays or the students have other special circumstances, the teachers will usually not push the free classes of the institution to the parents of the students.” Wang Jun said.

Therefore, in April of this year, many online education companies increased their e-marketing efforts. “In April, parents of students received more than a dozen phone harassment from agency customer service every week. But in May, the agency’s telemarketing efforts began to weaken again. Parents of students could only receive 1-2 calls per week. A call from the agency’s customer service.” Wang Jun said.

In addition, online education institutions continue to increase the promotion of auxiliary materials, the most typical of which is the production of gift boxes for auxiliary materials.

“Ape tutoring, Xueersi and other institutions have made a lot of gift boxes. This year’s scale will be larger than last year.” Xu Hua, a senior education investor, told Bullet Finance. Although these gift boxes are relatively rough in production, they contain Pre-test papers, analysis of previous years’ test papers and other content are what students need.

“The key is that these gift boxes are very cheap, and some boxes can be received for only 1 yuan.” In Xu Hua’s view, although the gift boxes are sent by education and training institutions through advertising, this advertising method is not over-marketing. It is a “win-win” approach for institutions and users.

Not only that, but online agencies are also experimenting with the “planting trees and getting fruits for free” to acquire customers.

According to Xu Hua, there are currently many Internet platforms that have launched the gameplay of “planting trees and getting fruits for free”, and get corresponding energy by watching 15-30 seconds of advertisements. Although this marketing method is not obvious enough, the user level is not small, and the Internet platforms are basically parent users. More importantly, the supervisory authority generally does not participate in or pay attention to the gameplay of “planting trees and getting fruits for free”, which is less risky.

Previous advertisements were mostly financial loans and games, but now the proportion of K12 online education advertisements is increasing sharply. “If the advertising volume of the organization increases greatly, it means that the advertising effect is good. If it disappears after a week or two, it means that the effect is not good. And every three advertisements I use now, they are all about K12 online education, and they are all the same. The advertisement shows that it has increased investment.” Xu Hua said.

In addition, many organizations are also achieving customer acquisition through agents.

Chen Qing, a parent of a primary school student in Beijing, revealed to Bullet Finance that in late May this year, a head agency agent added his WeChat via mobile phone number search, and then recommended several head online education institutions for low prices. class. “This agent’s speech skills are also very basic, and he says,’You can’t buy a fool for ten or twenty dollars’ or something like that.”

Bezos “God” is imminent

According to the Global Times, citing a report from Business Insider on the 20th, Amazon founder and super-rich Jeff Bezos previously announced in a high-profile manner that he will travel in space on the “New Shepard” spacecraft on the 20th of next month.

Bezos "God" is imminent

However, three days after he announced the news, a petition with the theme “Don’t Let Bezos Return to Earth” appeared on the Internet. As of the publication of Business Insider, the petition received more than 41,000 people’s support.

Earlier, Bezos posted a video on social media saying that he will travel to space on July 20 in the “New Shepherd” spacecraft developed by Blue Origin.

The British “Guardian” reported on the 7th that July 20th coincided with the 52nd anniversary of the American “Apollo 11” spacecraft landing on the moon, and it was also the first time the “New Shepherd” spacecraft performed a manned space travel mission. There were three passengers in the first batch of space travel, in addition to Bezos, his brother Mark Bezos and a tourist who obtained space travel seats through auction.

Bezos founded Blue Origin in 2000. The company’s “New Shepherd” spacecraft was developed specifically for space travel. Bezos said: “Looking at the earth from space will change your life. This is what I want to do all my life. This is an adventure and very important to me.” His brother Mark said that he received his brother’s I was stunned when I invited.

It is reported that after completing the first space travel, the “New Shepherd” spacecraft will be open to the public, but the specific pricing of space travel has not yet been announced.

The super-rich are “unpopular” or related to tax incidents

The American people’s “hostility” towards the “super rich” may be related to the tax incident that was exploded before.

According to a previous report by the “Daily Business News”, Amazon founder Bezos and Tesla founder Musk are the two richest Americans. According to Forbes real-time statistics, their latest net worth is US$190 billion (approximately approximately). 1.2 trillion yuan) and 167 billion US dollars (about 1 trillion yuan), ranking first and third in the world’s richest list respectively.

It stands to reason that the rich will pay more income taxes, and even if they pay more taxes, their burden is still smaller than that of ordinary workers. However, a survey from the US news site ProPublica found that the actual tax payments of the top rich people are beyond imagination. For example, Bezos did not pay any federal personal income tax in 2007 and 2011.

From 2014 to 2018, Bezos reported revenue of US$4.22 billion and paid US$973 million in taxes, but considering his net worth soared to nearly US$100 billion, the actual tax rate was less than 1%.

From 2006 to 2018, Bezos’ tax avoidance behavior was even more alarming: total income was US$6.5 billion and taxes were US$1.4 billion. However, his wealth surged by US$127 billion, and the actual tax rate was only slightly over 1%, reaching 1.1%. s level.

Among them, in 2007, Amazon’s stock price doubled, and Bezos’ net worth increased by $3.8 billion, but he did not pay any federal income tax. When he filed taxes with his ex-wife Mackenzie, he only declared $46 million in income. , Its main source is interest and dividends from external investments.

In this way, he can use debt interest payments, “other expenses” and other investment losses and deductions to offset every penny earned.

2011 was also a year when Bezos did not pay taxes. At that time, his net worth was stable at about 18 billion U.S. dollars, but he claimed that his investment losses exceeded his income when filing taxes, and applied for tax credits for himself and his children on this basis.

Cisco CEO expects global chip shortages

Chuck Robbins, CEO of Cisco (51.91, 0.41, 0.80 percent) systems, said the global shortage of computer chips is expected to continue for most of the year.

“We think it will take six months to get through the shortage,” he said in an interview on the weekend

The disruption in the semiconductor supply chain has affected many technology companies because of the surge in demand for electronics and the shortage of chips in large production facilities due to the new crown popularity.

This prompted suppliers to build more capacity, “robins said.” in the next 12 to 18 months, things will get better and better. ”

As demand soars, capacity expansion will be crucial. Shortage is a big problem, Robbins said, “because almost everything needs semiconductors.”

The production of smartphones, TV and home appliances manufacturers has been delayed due to the decrease in chip supply. The disruption also affected the production of other household appliances such as toasters and washing machines.

Qatar oil company

Qatar Petroleum (QP) plans to make an initial public offering of US dollar denominated international bonds, becoming the latest Gulf oil giant to issue bonds to raise funds at a time of low energy prices, according to people familiar with the matter.

Qatar oil company

The company is the world’s top supplier of liquefied natural gas (LNG). In the past few weeks, the company has sought advice from banks on the bond issuance plan, the source said. One of the sources said that the scale of the bond issue could reach billions of dollars“ It’s going to be a big deal, “the source said.

Qatar oil has yet to respond to a request for comment. The company plans to expand its capacity significantly in the next few years.