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Every editor, every reporter Zhao Yangge　　　　

Every reporter Zhao Yangge

Liaoning Zhenlong Specialty Co., Ltd. (hereinafter referred to as Liaoning Zhenlong), a company mainly engaged in the processing and sales of seed kernel series products and other dried fruits and nuts, published its prospectus in official website, China Securities Regulatory Commission on April 23, 2014. After waiting for nearly two years, it was not the listing road, but the filing inspection.

The company faces many risks.

A piece of news is going viral. According to many media reports, such as China, a brokerage firm, Liaoning Zhenlong IPO was investigated for alleged fraud, and Cinda Securities, as its sponsor and lead underwriter, was also implicated, and was also investigated by the CSRC before January 26, 2016. Cinda Securities has also confirmed the relevant information to the media.　

According to public information, the prospectus of Liaoning Zhenlong was signed on April 22, 2014, and the website of the CSRC was disclosed on April 23, 2014.

On March 13th, 2015, China Securities Regulatory Commission issued the "Information Disclosure Quality Spot Check and Lottery of Initial Public Offerings", including Liaoning Zhenlong and Sichuan imperial ware Co., Ltd..

It is reported that Liaoning Zhenlong was established on October 17, 2000, with legal representative Huang Yue and registered capital of 80 million yuan. Its main business is the processing and sales of seed products and other dried fruits and nuts, including pumpkin seeds, pine seeds and sunflower seeds. Nut products such as pistachios; Pumpkin seeds, pumpkin noodles and other pumpkin seed series comprehensive utilization products and other products such as beans and miscellaneous grains. The company mainly exports, and the data show that its export income once accounted for 80% of its main income, and its products were sold to Germany, the Netherlands, the United States, Canada, Australia and South Korea. According to Liaoning Zhenlong, the top five customers of the company in 2013 were all abroad.

National business daily reporter noted that based on Liaoning Zhenlong’s own business situation, the company faces many risks:

First of all, because the company’s main raw materials are agricultural products such as pumpkin seeds and nuts such as pine seeds, the cost of raw materials accounts for 90% of the main business cost, so when the output of raw materials needed for production is affected by climate, planting area and other factors, it is inevitable that the company’s purchase price will fluctuate greatly. This year-by-year cost change from 2011 to 2013 disclosed by Liaoning Zhenlong can be seen.

Secondly, because of the consideration of raw material planting and other factors, Liaoning Zhenlong needs to store raw materials, and the fourth quarter of each year to February of the following year is the centralized procurement period of raw materials. Seasonal centralized procurement is a remarkable feature of the company’s raw material procurement, and the proportion of raw material inventory amount to raw material procurement amount is about 30%. This kind of seasonal purchase is large, and the raw materials are stored for a long time. The company has the risk of deterioration and damage of raw materials due to insufficient storage space, abnormal climate or lax storage management.

In addition, because Liaoning Zhenlong mainly exports, the change of exchange rate will undoubtedly have an impact on the company. According to the data disclosed by the company, the exchange losses from 2011 to 2013 were 2,710,800 yuan, 1,694,900 yuan and 9,563,500 yuan respectively, which will undoubtedly affect the company’s profitability. At the same time, because the products are mainly exported, the company also faces the risk of changes in the export tax rebate policy.

Agricultural stock fraud is "more impulsive"?

Interestingly, as an agricultural enterprise, Liaoning Zhenlong is not an isolated case, and many agricultural enterprises have made frauds before.

After consulting the public information, the reporter of national business daily found that as early as 1994, Yinguangxia, known as the "first blue chip in China", had inflated profits by 772 million yuan from 1998 to 2001, and its share price (after being reinstated) rose from around 2.5 yuan in 1998 to nearly 25 yuan at the end of 2001. After the fraud incident, its share price plummeted again, falling short of 0.5 yuan.

Lantian shares, the "first agricultural stock in China" listed in June 1996, once created the "myth" of the capital market with its "excellent performance". The fact is that in 1999 and 2000, the company’s fictitious operating income was 3.69 billion yuan (actually only 64 million yuan) and its fictitious net profit was 940 million yuan (actual loss).

In 2005, Fengle Seed Industry, which had been listed for 8 years, was found to have been faked for 6 years, with fictitious main income of 180 million yuan and inflated net profit of 40.06 million yuan.

In 2006, Grassland Xingfa was listed for 9 years, and accumulated inflated net assets of 1.415 billion yuan, and at the same time fabricated operating income and costs.

In 2011, Green Land became the first case of small and medium-sized board fraud, which also alarmed the market with inflated assets and revenue.

From 2008 to 2011, Wanfushengke accumulated inflated income of about 740 million yuan and inflated net profit of about 160 million yuan, which was called "the first stock of fraud on GEM".

According to Ruilin’s investment research, many agricultural stock frauds are worthy of market consideration: First, the infrastructure construction, raw material procurement and sales involved in the business activities of agricultural enterprises mainly involve individual farmers and small farmers’ cooperative organizations. This determines that the trading objects of such enterprises are extremely scattered, and the trading means need to use a lot of cash, and their business flow and cash flow are not as clear and strict as those of other industrial and commercial enterprises, which has caused fundamental difficulties in auditing; Second, in order to encourage the development of agricultural production and agricultural products processing industry, the state has implemented many preferential tax policies, and the tax rate of agriculture is very low, even some areas are completely tax-free, which will greatly reduce the tax cost of fraud. However, industries without tax incentives need to pay more than 10% of sales. In order to make fraud, companies in these industries must pay a lot of real money to pay taxes for several years, and the cost of fraud is high; Third, the operating profit rate of agricultural enterprises is generally low, and if the market is slightly disturbed, enterprises may lose money, and the profit pressure of enterprises is greater than other enterprises. Moreover, the cyclical characteristics of agricultural enterprises, especially aquaculture, are very obvious, and it is difficult for enterprises to maintain stable profit growth. In order to maintain a good image of sustained profit, companies have a stronger impulse to falsify.

　　Iraq’s Ahdab oil field project. Photo courtesy of China Petroleum Middle East Company

　　"We have prepared brochures for the villagers to introduce them to some environmental protection and safety knowledge, including how to prevent and treat hydrogen sulfide, protect underground pipelines in oil fields, prevent electric shock, and protect farmland." Abid said. At 9 o’clock in the morning, Iraqi boy Abid and Hussein came to the village near Alar Town, Kut City, Iraq to carry out environmental protection and safety knowledge publicity activities. As members of the Green Action Team of the Ahead Oil Field Project, they shoulder the responsibility of publicizing the concept of green environmental protection, coordinating community relations and ensuring safe production, and undertake the task of green and sustainable development of the Ahead Oil Field.

　　Iraq’s Ahdab Oilfield Project, located in Kut, Wasit Province, 180 kilometers southeast of Baghdad, is the first foreign oil cooperation project in which China enterprises participated after the war in Iraq. In 1997, China Petroleum and Natural Gas Group Corporation (hereinafter referred to as "China Petroleum"), China Ordnance Industry Group Corporation and Iraqi Petroleum Marketing Company jointly established Oasis Petroleum Co., Ltd., which was responsible for the construction and development of Ahdab Oilfield. This project is the first project of China Petroleum in the Middle East. Affected by many factors, the project was restarted in November 2008 after being stranded for 12 years.

　　Since its inception in 2009, the project team has adopted the world-leading patented technology of harmless treatment of waste mud to treat drilling and workover mud in oil fields, becoming the first oil field project built by an international oil company in Iraq, which integrates the treatment and production of oil, gas, water, electricity, liquefied petroleum gas and sulfur, with the most complicated treatment process and the most complete system. "The project insists on advanced treatment of acid waste gas to produce sulfur with a purity of over 99.99%, which greatly reduces the impact on the environment and benefits more than 1.4 million local people in Iraq, which is of great significance to the green environment construction in the oil region." Gong Changli, project leader, said.

　　From 2009 to the end of 2022, the waste liquid and waste residue produced in the process of drilling and workover of 401 wells have been treated in a centralized and harmless way, and the accumulated investment has exceeded 60 million US dollars, which has created a precedent in the history of drilling and environmental protection in Iraq.

　　In 2018, a Green Action Team was set up in Ahmedabad Oilfield, all of which were composed of Iraqi employees. It was responsible for publicizing the concept of green environmental protection, laws and regulations, safety production and other related knowledge to local people, collecting local people’s opinions and demands on the environment of the oil region, and further achieving the goal of environment-friendly development. At the beginning of February this year, some residents in the oil area reported the situation to the external operation coordination department of the oil field. The villagers were about to carry out channel dredging operations in the cultivated land area, fearing that they would encounter underground pipelines, and took the initiative to seek help from the oil field in advance. "After receiving the reflected situation, we rushed to the scene at the first time. After confirming the location of the underground pipeline, we contacted the ground engineers and technicians in time to guide the operation, and took pipeline protection measures to assist the local villagers to successfully complete the ditch dredging operation and avoid the phenomenon of destroying the underground pipeline." Abid said.

　　"In addition to our daily work, we will also collect white garbage such as plastic bags and mineral water bottles in the oil area and send them to the garbage dumping station for centralized treatment." According to Abid, over the past five years, the Green Action Team has collected more than 360 vehicles of white garbage to keep the clean environment of the oilfield operation area, which has been well received by the local people.

　　At the same time of oilfield development and construction, the project allocates special funds from oilfield operation funds every year as the construction funds of social public welfare projects, and carries out public welfare projects in the fields of medical care, transportation, education, sports, electric power facilities, etc., actively promoting local economic development and helping to improve the living standards of local people.

　　By the end of February this year, the oil field had produced more than 61 million tons of crude oil, and all the oil and gas were exported normally, which created a stable and considerable economic income for Iraq, trained a large number of local young technical talents, created more than 5,000 direct or indirect employment opportunities for the local area, and helped local community residents to obtain sustainable development opportunities and improve their lives from the source, thus building a mutually beneficial and win-win development strategy. During the development and construction period, the project has driven many China engineering technology and construction service teams to enter the Iraqi market, and most of the oilfield equipment comes from China.

　　Mohammad Jamir, governor of Wasit province where the oil field is located, said that the Ahdab oil field project has opened a new journey for Wasit province to become a modern industrial city, and the urban landscape has been greatly improved, with no potholes and dusty roads, and the concept of green development is more deeply rooted in people’s hearts.

　　An article in Iraq’s "Tomorrow Daily" said that China Company contributed a lot to the post-war reconstruction of Iraq. "Iraq needs China, and Iraq and China must continue to strengthen cooperation in various fields, especially in the political and economic fields."

　　Iraq’s Ahdab oil field project. Photo courtesy of China Petroleum Middle East Company

　　Iraq’s Ahdab oil field project. Photo courtesy of China Petroleum Middle East Company

　　Attention, friends!

　　Yangtze River Delta Headquarters, Shanghai Main Station and related projects

　　Come on! Build! Ok! Yes! !

　　In October last year, the Central Radio and Television General Station and the Shanghai Municipal People’s Government held a signing ceremony for deepening the strategic cooperation framework agreement. The first regional headquarters and local terminal of the Central Radio and Television General Station — — The Yangtze River Delta headquarters and Shanghai main station were unveiled in Shanghai at the same time.

　　Unveiling and signing ceremony site

　　According to the agreement, the two sides will carry out all-round and in-depth cooperation around major cultural projects, serving the Yangtze River Delta, copyright operation, ultra-high-definition industry, sports industry, film and television drama translation, and film and television technology.

　　At present, the Yangtze River Delta Headquarters, Shanghai Terminal and related projects are under construction in full swing. It is expected that in September this year, the General Secretary of the Supreme Leader will send a letter to congratulate the 60th anniversary of the founding of CCTV and the birth of the new China TV industry, and the Yangtze River Delta Headquarters, Shanghai Terminal and related projects will be put into use.

　　What is the new home of Allah’s main station in Shanghai?

　　Ta da! Xiaobian takes you to see a wave first.

　　The Yangtze River Delta Headquarters, Shanghai Main Station and related projects are located in plots F1, L and M of the West Bank Media Port in the riverside area of Xuhui District, Shanghai, with a total of 8 buildings with a total construction area of about 265,000 ㎡.

　　A little far? Xiaobian takes you closer.

　　The project includes: about 155,000 ㎡ above ground and about 110,000 ㎡ underground, with three floors. Eight buildings can be connected to the ground and underground, with a total of about 1490 underground parking spaces.

　　Still a little far? Hold your breath,

　　Xiaobian takes you through the buildings one by one!

　　F1 building: 5A Grade A office building, with a building area of 84,821 ㎡ above ground and a height of 150m, with 31 floors above ground and underground connected with the subway, is the tallest building in the central axis of the West Bank Media Port.

　　L1 building: 5A Grade A office building, with a floor area of 40,767m2 and a height of 70m, with 13 floors above ground.

　　Buildings L2 and L3 are comprehensive exhibition and broadcasting centers, with a floor area of about 4,573 ㎡, a height of 47m and five floors above ground. L3 building has a floor area of about 4,987 ㎡, a height of 47m and five floors above ground.

　　The M1 building is an IMAX cinema, with a building area of 10018㎡ above ground and a height of 30m. There are 4 floors above ground and 9 projection halls, with a total of 1600 seats. One of them is an IMAX cinema with 400 seats.

　　M2 building is a 5A Grade A office building with a floor area of 13,360m2, a height of 40m and 7 floors above ground.

　　The M3 building is a 5A Grade A office building with a floor area of 14,336 ㎡, a height of 40m and 7 floors above ground.

　　Building M4 is a commercial building with a floor area of 4106㎡ above ground and a height of 24m, with three floors above ground.

　　The completed project looks like this.

　　And this one

　　I didn’t expect it,

　　Such a large-scale birth, surprise is not a surprise!

　　Knock on the blackboard and draw the key points! ! !

　　In order to better show the style of the Yangtze River Delta Headquarters, Shanghai Main Station and related projects, Xiaobian invites colleagues from the main station to give this Shanghai project of the main station under construction:

　　"Plots F1, L and M of West Bank Media Port in Xuhui District, Shanghai"

　　Give me a name!　

　　The requirements are simple:

　　01

　　With the local characteristics of "Allah".

　　02

　　Connotation, fashion, loud and easy to remember.

　　03

　　I think for myself and don’t infringe on the intellectual property rights of others.

　　Note: The ownership, modification and use right of the adopted name belong to the front desk.

　　Waiting for you to participate!

　　"Xie Xie!"

　　Here are the eggs! The three friends whose names have been praised the most, the Taiwan Youth League Committee — —

　　There are big prizes!

　　The information of our solicitation activities is as follows, so let’s run and tell each other!

　　one

　　Activity time: January 24th to February 4th, 2019.

　　two

　　Submission method:

　　1, direct background message (small series can see ~ ~)

　　2. Send the name, text description, real name and contact information to tuanwei@cctv. Com, please indicate "name-seeking activities" as the subject.

　　three

　　Selection: The reception desk will organize personnel to select the contributions, and the selection results will be published on the reception desk website, bulletin boards and other channels.

　　four

　　Contact: Taiwan Youth League Committee　　

　　Tel: 83069552

　　Email: tuanwei@cctv.com.

　　Beijing, Jan 23rd (Leng Haoyang) In 2018, Spring Festival travel rush’s "ticket grabbing war" is still hot. However, for the passengers who haven’t grabbed the train tickets, they can find another way to re-plan their Spring Festival reunion. At this time, while paying attention to the "missing" of the remaining tickets, such passengers can also skillfully use air-rail combined transport, continuous transfer, network hitchhiking, reverse family visits and other measures to "curve" reunion.

　　Data Map: On January 4th, Taiyuan Railway Station, Shanxi Province, passengers bought train tickets at the manual ticketing window. China News Service reporter Wei Liang photo

　　Always pay attention to the remaining tickets and prepare for "missing"

　　For passengers who haven’t grabbed their tickets, according to the introduction of the railway department, we can pay attention to several time points when there are more refunds.

　　First, 30 minutes after the ticket is sold, if a passenger fails to pay in time after successfully grabbing the ticket, these ticket sources will return to the ticket warehouse after 30 minutes;

　　Second, on the 15th day before driving, according to the relevant regulations on railway refund, refund fees are not charged for those who refund tickets more than 15 days before driving, and passengers with uncertain trips often choose this time node to apply for refund.

　　The third is one to two days before driving. At this time, passengers who occupy tickets can basically determine the itinerary, especially from 22: 00 to 23: 00, which is the peak time for passengers to refund their tickets;

　　Fourth, before driving, the system will release some of the remaining tickets, and passengers who have not grabbed the tickets can "catch up" at this time.

　　In addition, the reporter noticed that some trains temporarily stopped selling tickets due to map adjustment, and some temporary passenger trains were added by the railway department. Passengers who did not grab tickets can pay more attention to the ticketing time of such trains in order to grab tickets at the first time.

　　Clever use of air-rail combined transport can "curve home"

　　In Spring Festival travel rush, long-distance train tickets are generally "one ticket is hard to find". In this regard, passengers can re-plan the route, air-rail combined transport, and curve home.

　　Nowadays, many airlines and railway departments have launched air-rail combined transport, flying to cities near their destinations first, and then transferring to high-speed trains to go home, or taking a high-speed train first, and then transferring to planes to fly to their destinations.

　　As for the cost, compared with the railway and Spring Festival travel rush, there will be some situations in air transportation where the capacity of some routes is relatively sufficient and the discount is large. Choosing air-rail combined transport is not only easy to buy tickets but also affordable.

　　Taking Beijing to Ningbo as an example, the reporter’s inquiry showed that on February 14th (the 29th day of the twelfth lunar month), not only was it hard to get a train ticket, but it also cost more than 1,000 yuan to fly. If you fly to Shanghai first on February 14th, the cheapest air ticket is only 400 yuan, and then transfer to a high-speed train with a price of 100 yuan, the whole journey will only take you around 600 yuan, which not only reduces the difficulty of purchasing tickets, but also makes it more cost-effective.

　　Try "connecting and transferring" and buy more stops.

　　The recommendation of the "continuous transfer" scheme introduced by the railway department last year can also reduce the difficulty for passengers to purchase tickets. When passengers can’t buy through tickets, they can choose the "continuous transfer" function, and the ticketing system will show passengers the remaining tickets of some trains that transfer once on the way. If passengers choose to buy, they can complete the payment of tickets for two trips at one time.

　　The reporter inquired about the train ticket from Beijing to Lanzhou on February 14 at the 12306 client, and found that there were only 8 trains a day on this line, and there were no tickets left. The reporter also inquired about the tickets from Beijing to Xi ‘an on the same day, and found that among the 32 trains, some high-speed trains still have tickets available for purchase.

　　The reporter also inquired about the tickets from Xi ‘an to Lanzhou, and found that there were 76 trains on February 14th, and there were still many tickets left. If you transfer home in this way, it will make it easier for passengers to buy tickets.

　　In addition, passengers can also try to buy more stops. According to the principle of "ensuring long distance" of the railway department, passengers can try to buy a few stops backwards when purchasing tickets, and get off early, or try to buy tickets from the previous stops to increase the chances of buying their favorite tickets.

　　You can choose a long-distance "ride" and pay attention to safety.

　　In recent years, the rise of long-distance "hitchhiking" has also greatly facilitated passengers’ way home during the Spring Festival.

　　Zhang Peng works in Beijing and lives in Jiyuan, Henan. Zhang Peng said that although the distance is not far, there is no direct high-speed train, and there are only five trains a day, which takes about 10 hours. If you choose to take the high-speed train to Zhengzhou and then transfer, on the one hand, it is not easy to buy tickets, on the other hand, it is more troublesome.

　　Zhang Peng told the reporter of Zhongxin. com that he has been a frequent visitor to the long-distance ride. He used the ride to return home during the 11th holiday last year, and he still plans to take the ride this Spring Festival. Although the fare of more than 300 yuan is twice as high as 178 yuan for a hard sleeper, it is convenient and worry-free.

　　On the client side of a network car, just select the "cross-city" option in the "Ride" interface, then enter the departure time, departure place and destination to get a car, and you can also see the estimated price. From Fuchengmen, Beijing to Jiyuan Bus Station, the estimated cost is 341.8 yuan.

　　The safety of the network car has also been concerned. In this regard, the police reminded that when taking a car online, it is best to write down the license plate number before getting on the bus. It is best not to carpool with people you don’t know and share your position with relatives and friends at any time. In case of danger, you should keep calm and call the police in time.

　　"reverse visiting relatives" to realize another kind of reunion

　　Wang Bo, a native of Harbin, has worked in Beijing for three years. In the previous two years, he was a member of Spring Festival travel rush’s "ticket grabbing army", but he plans to invite his parents to Beijing for the New Year this year.

　　Wang Bo told the reporter of Zhongxin. com that going home every year is very "heart-tired". Tickets are too difficult to grab, and it is inevitable to visit relatives and friends when going home. It has become a luxury to take advantage of the Spring Festival holiday to have a good rest.

　　"My father has always wanted to come to the National Centre for the Performing Arts to watch a performance, just taking advantage of the Spring Festival to take his parents around Beijing. During the Spring Festival, there are fewer Beijingers, and a family of three can have a good year in Beijing quietly." Wang Bo said.

　　In this regard, the reporter inquired about the train ticket from Beijing to Harbin on February 14 and found that "one ticket is hard to find", and even the economy class of the plane is not much left. However, if there is a "reverse reunion", the ticket source from Harbin to Beijing is sufficient, and the minimum flight cost is only 200 yuan. (End)

　　On December 26th, the 24th meeting of the 13th the National People’s Congress Standing Committee (NPCSC) deliberated and adopted the 11th Amendment to the Criminal Law (hereinafter referred to as the Amendment), which will be officially implemented on March 1st, 2021.

　　Looking at this amendment, it involves five major points of the capital market: 1. For fraudulent issuance, the amendment raises the maximum term of imprisonment from 5 years to 15 years, and changes the fine for individuals from 1%~5% of illegally raised funds to "concurrently fine", cancels the upper limit of 5%, and increases the fine for units from 1%~5% of illegally raised funds to 20%~1 times.

　　 2. For information disclosure fraud, the amendment will increase the maximum sentence of the relevant responsible personnel from 3 years to 10 years, and the fine amount will be changed from 20,000 yuan to 200,000 yuan to "fine concurrently", and the upper limit of 200,000 yuan will be cancelled.

　　 3. Strengthen the criminal accountability of "key minority". Incorporate the controlling shareholder and actual controller into the scope of criminal law regulation, such as organizing, instigating fraudulent issuance, making false information disclosure, and concealing relevant matters by controlling shareholder and actual controller, which leads to the disclosure of false information by the company.

　　 4. Compacting the "gatekeeper" responsibilities of intermediaries such as sponsors. The sponsor is regarded as the subject of the crime of providing false documents and the crime of issuing documents with great inaccuracy, and the criminal responsibility shall be investigated for this crime.

　　 5. With reference to the provisions of the new securities law, in view of the new manipulation situation in the market, it is further clear that criminal responsibility shall be investigated for new market manipulation behaviors such as "fraudulent transaction manipulation", "confusing transaction manipulation" and "hat grabbing manipulation".

　　The CSRC pointed out that this revision of the criminal law is another major legislative activity involving the capital market after the completion of the revision of the securities law, which shows the firm determination of the state to "zero tolerance" against securities and futures crimes, and has far-reaching significance for effectively raising the illegal cost of securities, protecting the legitimate rights and interests of investors, maintaining market order, promoting the reform of the registration system, and ensuring the stable and healthy development of the capital market.

　　Greatly improve the criminal punishment of securities and futures crimes.

　　 According to the CSRC, the revision of the criminal law adheres to the problem orientation, highlights key points, and aims at preventing and resolving financial risks, ensuring financial reform and maintaining financial order. It is compatible with the reform of the registration system with information disclosure as the core and is linked with the revision of the securities law, which greatly improves the criminal punishment for four types of securities and futures crimes, such as fraudulent issuance, false information disclosure, false certification documents provided by intermediaries and market manipulation. To create a standardized, transparent, open, dynamic and resilient capital,

　　Greatly increase the penalties for crimes such as fraudulent issuance and information disclosure fraud.Illegal and criminal acts such as fraudulent issuance and information disclosure fraud are the "cancer" of the capital market, and the amendment has greatly strengthened the criminal crackdown on the above crimes. For fraudulent issuance, the amendment will raise the upper limit of imprisonment from 5 years to 15 years, and modify the fine for individuals from 1%~5% of illegally raised funds to "concurrently fine", cancel the upper limit of 5%, and increase the fine for units from 1%~5% of illegally raised funds to 20%~1 times. For information disclosure fraud, the amendment will increase the maximum sentence of the relevant responsible personnel from 3 years to 10 years, and the fine amount will be changed from 20,000 yuan to 200,000 yuan to "combined fine", and the upper limit of 200,000 yuan will be cancelled.

　　Strengthen the investigation of criminal responsibility of "key minorities" such as controlling shareholders and actual controllers.In practice, controlling shareholders and actual controllers often play an important role in cases such as fraudulent issuance and information disclosure fraud. The amendment strengthens the accountability of such subjects, and clearly includes the behaviors of controlling shareholders and actual controllers, such as organizing and instigating fraudulent issuance, making false information disclosure, and concealing relevant matters by controlling shareholders and actual controllers, which leads to the disclosure of false information by the company, into the scope of criminal law regulation.

　　Compacting the "gatekeeper" duties of intermediaries such as sponsors.Intermediaries such as sponsors are the "gatekeepers" of the capital market, and their diligence is very important for the healthy development of the capital market. The amendment clearly regards the sponsor as the subject of the crime of providing false documents and the crime of issuing documents that are grossly inaccurate, and applies this crime to investigate criminal responsibility. At the same time, for lawyers, accountants and other intermediaries who produce false documents in securities issuance and major asset trading activities, if the circumstances are particularly serious, a higher sentence is clearly applicable, and the maximum sentence can be 10 years in prison.

　　Maintain effective connection with the revision of the securities law.On the one hand, depository receipts and other securities legally recognized in the State Council are included in the scope of regulation of fraudulent issuance crimes, providing sufficient legal basis for cracking down on fraudulent issuance of depository receipts and other securities in the future; On the other hand, with reference to the provisions of the new securities law, in view of the new manipulation situation in the market, it is further clear that criminal responsibility should be investigated for new market manipulation behaviors such as "fraudulent transaction manipulation", "confusing transaction manipulation" and "hat-grabbing manipulation".

　　We will speed up the revision and improvement of criminal filing and prosecution standards.

　　Regarding the follow-up work of the amendment, the CSRC indicated that in the next step, it will take the opportunity of earnestly implementing Amendment 11 of the Criminal Law as an opportunity to accelerate the revision and improvement of the standards for criminal filing and prosecution, strengthen the publicity and education on the content of Amendment 11 of the Criminal Law, continuously deepen the cooperation with the judicial organs, adhere to the "zero tolerance" to crack down on various securities and futures crimes such as fraudulent issuance and information disclosure, effectively raise illegal costs, effectively protect the legitimate rights and interests of investors, and fully guarantee them.

　

　　Source: Issued by China Securities Regulatory Commission, Securities Times Network

　　Press conference site

　　CCTV News:On October 13th, the State Council held a press conference on import and export in the first three quarters. In response to a reporter’s question, Li Kuiwen, spokesman of the General Administration of Customs and director of the Statistics and Analysis Department, introduced that the Customs resolutely implemented the decision-making arrangements of the CPC Central Committee and the State Council, concentrated on "six stables" and "six guarantees", made overall plans to prevent and control the epidemic situation at ports and promote the steady growth of foreign trade, further proposed 56 measures to stabilize foreign trade and foreign investment, and continuously improved the level of customs clearance facilitation.

　　First, reform and innovation promote trade facilitation.We will comprehensively promote facilitation measures such as "two-step declaration", "declare in advance", "green channel" and exemption from on-site inspection to improve customs clearance efficiency. In September, the overall customs clearance time for imports and exports in China was 35.02 hours and 1.86 hours respectively, which was 64.04% and 84.87% lower than that in 2017, both of which have decreased for five consecutive months.

　　The second is to find ways to reduce the cost of enterprises.By reducing and exempting the import delay payment, late payment fee and the interest of deferred tax on domestic sales of processing trade goods, the company has reduced and saved nearly 200 million yuan. Especially among the import and export enterprises that use tariff guarantee insurance, SMEs account for about 70%.

　　The third is to accelerate the pilot to promote the development of new formats.Comprehensively promote the regulatory measures for the return of cross-border e-commerce export commodities, and carry out pilot projects for cross-border e-commerce enterprises to export to enterprises. Encourage the central and western regions, the northeast and other places to carry out market procurement trade pilot. In the first three quarters, the import and export through the customs cross-border e-commerce management platform was 187.39 billion yuan, up 52.8%, and the market procurement export was 509.86 billion yuan, up 35.5%.

　　The fourth is to take multiple measures to promote the creation of a new highland for opening up.Vigorously support the construction of Hainan Free Trade Port and Yangshan Comprehensive Bonded Zone, intensify the innovation and replication of customs supervision system in the Pilot Free Trade Zone, and promote the full implementation of global maintenance and remanufacturing business in the comprehensive bonded zone. In the first three quarters, the import and export of the national comprehensive bonded zone was 2.34 trillion yuan, an increase of 15.1%, 14.4 percentage points higher than the growth rate of foreign trade.

　　The fifth is to fully guarantee the import of key products.We will continue to expand the scope of importing countries and commodities, newly approve 5,965 foreign registered enterprises, and increase the import security of important agricultural products and foods such as meat, grain, aquatic products and fruits. In the first three quarters, meat and grain were imported 162.65 billion yuan and 253.36 billion yuan respectively, up by 87.3% and 20.7% respectively.

　　In the next step, the national customs will deepen reform and innovation, do a good job in the work of "six stabilities" and "six guarantees", fully promote the implementation of 56 measures to further stabilize foreign trade and foreign investment, promote the stable development and quality improvement of foreign trade, and make positive contributions to promoting the formation of a new development pattern.

　　According to The New York Times’s report on July 13th, SAG-AFTRA announced that it had failed to reach a new agreement with AMPTP, which represents the interests of film and television production companies, and decided to strike.

　　Earlier, the American Writers’ Union (WGA) began a strike on May 2. SAG-AFTRA will soon join their camp, which is also after 1960, when actors and screenwriters went on strike again. During the strike, the actors’ union will stop all script, film and TV production under AMPTP.

　　Last month, members of the Actors’ Union voted overwhelmingly by 98%, authorizing the union management to go on strike if no agreement can be reached in the negotiations, and at the same time authorizing the union leaders to "stick it out" in the negotiations with the management.

　　In the latest statement, the Actors’ Union said: "SAG-AFTRA is eager to reach an agreement that fully meets the needs of performers, and the producer’s response to the most important proposal of the Actors’ Union is to insult and disrespect our contribution to this industry. These companies refuse to make meaningful contacts on some topics, while others completely hinder us. "

　　The union also said that after more than four weeks of negotiations, AMPTP is still unwilling to provide a fair deal on key issues that are crucial to the members of the Actors Union. "

　　AMPTP represents Amazon, Apple, Disney, Comcast’s NBC Universal, Netflix, Paramount Universal, Sony and Warner Bros. Discovery and other major film companies and streaming media companies.

　　It is reported that the demands of the actors’ union include "economic fairness, late dividends, standardizing the use of AI, and alleviating the burden of self-recorded audition fees in the whole industry".

　　The core issue is salary and the use of artificial intelligence.

　　The actors’ union believes that the remuneration of actors has "seriously shrunk" in recent years. Under the old system, if a TV series is a great success, actors can expect that there will be a large amount of checks left in their bank accounts in the next few years. Actors believe that in the era of streaming media, cakes become smaller and checks become smaller.

　　"Fundamentally, we are interested in ensuring that our members share the success of the projects they create." Duncan Crabtree-Ireland, the chief negotiator of the trade union, pointed out.

　　Actors are also very concerned about artificial intelligence and how to use this technology to replicate their previous performances without paying or consulting them.

　　The strike of the actors’ union means that almost all American TV dramas and movies being filmed will stop shooting. During the strike, hundreds of thousands of actors who joined the trade union were not allowed to shoot any films and TV works, and could not attend any press conference or film premiere.

　　21st century business herald reporter Ji Yuanyuan reports from Shanghai Recently, Yixinhe Pharmaceutical Technology Co., Ltd. (hereinafter referred to as "Yixinhe Medicine") developed and produced, and (1) Shakuba Quvalsartan Sodium Tablets (brand name: Yixintan) which was exclusively commercialized was approved by National Medical Products Administration (NMPA). Yixintan is the first generic drug of shakubatravalsartan sodium tablets approved for marketing in the global regulatory market by breaking through the original research patent through innovative crystal forms. The approved indications of this product are for treating essential hypertension and adult patients with chronic heart failure (NYHA II-IV grade, LVEF≤40%) with reduced ejection fraction, so as to reduce the risk of cardiovascular death and hospitalization for heart failure.

　　Immediately afterwards, Unacon also announced that its subsidiary company Shiyao Ouyi developed Shakubatrivalsartan sodium tablets (50mg, 100mg, 200mg) which have obtained the drug registration approval issued by National Medical Products Administration, and regarded them as the adult patients with chronic heart failure (NYHA II-IV grade, LVEF≤40%) with reduced ejection fraction, which reduced the risk of cardiovascular death and hospitalization for heart failure.

　　With the approval of domestic shakubatravalsartan sodium tablets, Novartis, the original drug manufacturer, also released information at the first time, saying that the marketing license for the generic drug of Novartis’ original research product shakubatravalsartan sodium tablets was approved, and Novartis declared that the pharmaceutical active ingredient of the original research product Noxintuo was protected by patents ZL200680001733.0 and ZL201210191052.2 in China.

　　According to the relevant provisions of Article 11 of China’s Patent Law, any enterprise or individual shall not manufacture, use, promise to sell (including applying for online registration, participating in bidding, etc.), sell or import products falling within the scope of the above patent protection before the expiration of the above patent period, otherwise it will constitute patent infringement. To this end, Novartis emphasizes that it will reserve the right to claim its patent right against infringing imitations from relevant judicial and/or administrative organs.

　　Regarding the patent issue, according to the public information, in April 2017, the patent of Shakubatroxobin Sodium Tablets registered by Novartis was declared invalid in China. On July 2, 2021, the crystal patent was also partially invalidated in China. Yixin and Medicine also emphasized in the official disclosure information that in 2022, the domestic sales of Shakuba Quvalsartan sodium tablets totaled nearly 3 billion yuan, and its China patent will expire in November 2026. Yixintan is a first-line drug for the treatment of heart failure and hypertension with independent intellectual property rights, which can legally make the majority of patients with heart failure and hypertension in China use equivalent and affordable innovative drugs three years in advance.

　　It can also be seen that the domestic Shakubatroxobin Valsartan sodium tablets have been approved one after another, which will bring certain market challenges to the original drug.

　　More than 10 pharmaceutical companies compete for the market

　　Shakubatroxobin and valsartan sodium tablets are a new type of eutectic drug composed of enkephalinase inhibitors Shakubatroxobin and angiotensin receptor blocker valsartan sodium tablets in a molar ratio of 1:1. Eutectic structure can make the absorption and elimination rates of shakubarb and valsartan sodium tablets similar, and ensure the synchronous consistency of their efficacy. In addition, compared with independent preparations, eutectic drugs have the advantages of constant composition ratio, good storage stability, and can significantly improve drug solubility and oral bioavailability.

　　As a representative drug of ARNi, Shakubatroxobin sodium tablets have been unanimously recommended by domestic and foreign guidelines in recent years. In 2021, the American Heart Association proposed that ARNi drugs should be given priority to patients with HErEF, and it is recommended to use them to the maximum tolerated dose or target dose (Class I). In 2018, China Heart Failure and Treatment Guidelines also recommended to replace ACEI/ARB with ARNi to further reduce the incidence and mortality of heart failure (Class I).

　　Sakubatravalsartan sodium was originally researched by Novartis Entresto, and was first approved by the FDA in July 2015. It is the world’s first breakthrough and innovative drug in the field of heart failure treatment, and was approved to enter the domestic market for the first time in July 2017. It was included in the national medical insurance category B catalogue through negotiation in 2019, successfully renewed in 2021, and added indications for essential hypertension. In 2021, the global sales of the original research sand kubatroxobin sodium reached US$ 3.548 billion. In 2022, its global sales scale reached US$ 4.644 billion, up 37% year-on-year. In the first half of 2023, the drug also grew into the best-selling drug of Novartis, with sales reaching US$ 2.915 billion, up 31% year-on-year, and it is expected to exceed US$ 6 billion in the whole year.

　　In the China market, the original yanshakubatravalsartan sodium is also a heavy variety. According to the data of the Minenet, the sales growth rate of this product in China’s three major terminals and six major markets has reached triple digits in recent years. In 2021, it exceeded 2 billion yuan for the first time, up 127.62% year-on-year, with full market potential; In 2022, the sales of Shakubatroxobin Sodium Tablets in China’s three major terminals and six major markets exceeded 2 billion yuan. Among them, the hospital market (public hospital terminal+public primary medical terminal) is the main sales channel, with a year-on-year increase of 6.54%.

　　In this regard, some brokerage analysts told 21st century business herald that the innovative product layout must be aimed at chronic diseases, major diseases, diseases that pose a major threat to people’s health, such as cardiovascular diseases, tumors and major infectious diseases. At the same time, the core of making medicine is clinical value. With the rapid development of life science, many interdisciplinary fields are very active, and the large-scale treatment methods focusing on large populations are worthy of attention.

　　"The successive approval of domestic shakubatravalsartan sodium tablets is a great benefit for cardiovascular patients, although the layout of many domestic pharmaceutical companies is already in the clinical stage, except for the single-minded and pharmaceutical/Fosun Pharma, Shiyan Ouyi, including Sichuan Kelun, Chengdu Beite, Qilu Pharmaceutical, Zhengda Tianqing, etc. are also accelerating the layout. This is due to the accelerated layout of many domestic pharmaceutical companies, and the prices of related products are expected to be further lowered, eventually benefiting more patients. " The above analyst said.

　　According to the data of Minenet, at present, there are three companies that have production approval documents for Shakuba Quvalsartan Sodium Tablets. Among them, Unacon Ouyi Pharmaceutical Co., Ltd. and Nanjing Yixin and Medical Science and Technology Co., Ltd. were all approved on the same day with four types of imitation, which are regarded as over-evaluation, and tied for the first imitation and the first over-evaluation. In addition, 17 enterprises, including Shandong New Times Pharmaceutical, Nanjing Zhengda Tianqing Pharmaceutical and Qilu Pharmaceutical (Hainan), all reported their production under the new classification.

　　An unavoidable patent dispute

　　The competitive anxiety between Chinese and foreign pharmaceutical companies in Shakuba Quvalsartan sodium tablets is also considered to be an important reason for patent confrontation. At the same time, in recent years, patent disputes between original drugs and generic drugs have occurred from time to time. 21st century business herald reporter found through the search of Wisdom Bud database that as of the latest, there are more than 700 drug patents with litigation results in China, and more than 99% of them are invention patents. It can be seen that the handling of drug patent disputes needs urgent attention.

　　Yixinhe Medicine also emphasized in the official information disclosure that Yixintan is a first-line drug for the treatment of heart failure and hypertension with independent intellectual property rights. Compared with the reference crystal form, when the relative humidity changes from 20% to 60%, it absorbs less water and is more stable, and can be sealed and stored below 30℃. This stable crystal form is more suitable for the vast China market.

　　When talking about patents, some pharmaceutical executives also told 21st century business herald that the research and development of original innovative drugs has always been a "three high" industry with high threshold, high risk and high return. According to the latest literature, it takes an average of 12.5 years for a new drug to go on the market, which costs nearly $2.6 billion, and the success rate is less than 10%. Every new drug project is the most important decision of an enterprise, and the project process needs a lot of data research, especially the research on patents, documents and regulations takes a lot of time.

　　"Therefore, how to find a balance between ensuring the innovation enthusiasm of the original drug research enterprises and reducing the burden on patients has been hotly debated. The FDA’s definition of generic drugs is very strict, and the requirements must be consistent with the dosage form, specifications and administration route of the copied products. If it is inconsistent, it will be declared as a new drug. " The above-mentioned pharmaceutical company executives said that for the long-term public interest, the state needs to protect the enthusiasm of the original drug research and development enterprises. At the same time, in order to limit the original drug research and development enterprises, it is necessary to encourage the imitation research and development of the original drug from the level of institutional norms and ensure the interests of generic drug enterprises.

　　In order to better balance the interests of the original research drug and generic drug companies with the system, the new Patent Law, which came into effect on June 1, 2021, established the drug patent linking system in China, aiming at linking the two legal procedures, so as to clarify the interest relationship between the original research drug manufacturers and generic drug manufacturers and avoid the problem of patent punishment when the generic drug research and development is completed.

　　As for how enterprises can avoid patent risks, Hou Xuchao, the founding partner of CIC Consulting, also told 21st century business herald that from the perspective of investment and financing, pharmaceutical companies have five key parameters when choosing product pipelines, including the success rate of products under research, patient base, product penetration rate, product pricing and patent life. With the improvement of pharmaceutical companies’ R&D strength, patent life needs more and more attention.

　　"For the patent situation of unlisted drugs, investors need to hire professional IP lawyers to conduct detailed investigations. Because patent conflicts will directly make it difficult for candidate drugs to be marketed, and even directly affect the product value measured by all the above parameters, it is an essential step for patent investigation. " Hou xuchao said.

　　There is a huge crowd in the chronic disease market behind Shakuba Quvalsartan sodium tablets. In terms of hypertension alone, China, as a big country with hypertension, has 245 million adult hypertensive patients, which means that Shakuba Quvalsartan sodium tablets have a broad market space and are an important direction for the future development of drugs. I believe many domestic and foreign manufacturers will make layouts and list related products one after another.

　　However, it should also be noted that after the appearance of the first imitation drug, the clinical data, approval time and product price of the follow-up drugs and enterprises will all be factors affecting the competition pattern, especially the clinical effectiveness and safety, which will be the key to decide who can go further in this track.

　　CCTV News:Today, the China Meteorological Bureau held a consultation meeting with various departments on the weather during the Spring Festival holiday. According to the forecast, during the holiday, the temperature in most parts of the north was low, while the temperature in the south was high and rainy. From New Year’s Eve to the second day, the weather in most parts of the country is generally conducive to travel. From the third day, affected by strong cold air, there will be a large range of rain, snow and strong winds in the central and eastern regions.

　　According to the forecast, from the 4th night today, due to the influence of a medium-intensity cold air, there will be 4 to 6 northerly winds from north to south in the central part of northwest China, central and eastern Inner Mongolia, most of the northeast, Jianghuai, Jiangnan and eastern Guizhou. The temperature will drop by 4 ~ 8℃, and the local temperature will drop above 12℃. Everyone should pay attention to wind protection and warmth when traveling.

　　From New Year’s Eve to the first day, there is no obvious cooling and snowfall in most parts of the country, which is conducive to travel. Around the second day of junior high school, a strong cold air will affect northern Xinjiang, bringing strong winds, strong cooling and snowfall. From the third day to the fifth day, this cold air will continue to move eastward and affect the central and eastern regions, bringing northerly winds of 4 ~ 6 grades, and the temperature will also drop by 6 ~ 10 C. Among them, the local cooling in central and southern Hunan and southeastern Guizhou will exceed 14 C. At the same time, there is snow or sleet weather in the eastern part of northwest China, north China, south-central part of northeast China, Huanghuai, Jianghuai and Jianghan. From the fifth day to the sixth day, there are northerly winds with 6-8 grades and gusts of 9-10 grades in Bohai Sea, Yellow Sea, East China Sea, Taiwan Province Strait, northern South China Sea and Beibu Gulf.

　　During the Spring Festival holiday, there will be rainy weather in the south. It is expected that there will be more light rain or showers in Jiangnan, northern South China and eastern Guizhou, and the number of rainy days will be 4-6 days.

　　In addition, it should be noted that there will be heavy fog in Qiongzhou Strait on New Year’s Eve and the early morning of the first day, and the local visibility will be less than 500 meters. On the second day, there are heavy fog in Sichuan Basin, Henan, Shandong, Jiangsu, Anhui, Hubei and other places, and there are strong fog in some areas, so it is necessary to guard against the adverse effects of low visibility on travel. (CCTV reporter Ren Meimei)

11,000 escalators were checked 10 days ago, and an elevator "swallowing people" incident occurred in Hubei, which caused strong concern about elevator safety. The executive meeting of the municipal government held yesterday studied and deployed matters on strengthening elevator safety supervision. At the subsequent press conference, Yao Jianming, director of the Municipal Bureau of Quality and Technical Supervision, revealed the specific addresses of 19 "Suzhou Shenlong" escalators in the city, and said that these 19 escalators could not be put into use again until there were no safety hazards. The city is also investigating 11,000 escalators, which is expected to be completed before August 10th. Latest progress: 6,250 escalators have been investigated. After the "July 26th" escalator accident in Jingzhou, Hubei Province, the Municipal Quality Supervision Bureau organized a special investigation and found that there were 19 escalators in Guangzhou, all of which were located in shopping malls and supermarkets, including 8 in Tianhe, 5 in Huadu, 2 in Haizhu, 1 in Baiyun, Panyu, Yuexiu and Huangpu, and 6 in the same model as the accident. The eight "Suzhou Shenlong" escalators located in Tianhe are all located in the Gaodehui Olympic Sports Center in Dongpu; In addition, CR Vanguard, Minrun Supermarket and Huadu Xinhua Department Store are all involved. Yao Jianming said that all the 19 sets of "Suzhou Shenlong" have been ordered to stop using. At present, the preliminary investigation has been completed, and no similar hidden danger of cover overturning has been found. It is asking its manufacturing unit "Suzhou Shenlong" Elevator Company to further confirm this and make sure that there are no safety hazards before it can be put into use again. It is reported that there are 114,000 elevators in Guangzhou, including about 11,000 escalators.And the annual growth rate is about 10%, the number is second only to Beijing, Shanghai and Shenzhen, ranking fourth in major cities in China. Yao Jianming revealed that a comprehensive inspection of 11,000 escalators in the city is being organized. Maintenance units and users have inspected the cover plates and connecting plates of escalators one by one. At present, 6,250 escalators have been inspected, and it is expected that the inspection of 11,000 escalators in the city will be completed before August 10. In addition, the corresponding escalator cover plate and protective baffle are added to the supervision and spot check task of escalator. Focus question: Has the escalator been inspected? There is a green inspection sign. Since all the escalators in the city are undergoing safety inspection, how can ordinary citizens know whether the elevators around them have been inspected and qualified? Yao Jianming said: "Every inspection is recorded and prompted. According to the regulations, it will be inspected once every 15 days, and a sign of inspection will be posted in the elevator." Yang Yanhui, director of the special equipment safety supervision department of the Municipal Quality Supervision Bureau, added that if you find that there is no green sign that has passed the statutory inspection in the elevator, you can call 96333 or 12365 to make a complaint. Yao Jianming also said that there are about 13,000 elevator maintenance personnel in Guangzhou, which can basically meet the needs. Regular maintenance and maintenance system is implemented for elevator maintenance enterprises, and licensing system is implemented for maintenance enterprises. The staff of maintenance enterprises, that is, technicians, should also be employed on the basis of qualifications. At present, 260 maintenance enterprises are performing their duties.Of course, the mobility of maintenance personnel is still relatively large because of the treatment. Next, we will strengthen supervision and strengthen the training of technicians in maintenance enterprises. He also revealed that the maintenance companies have signed contracts with the elevator users. If citizens find that there is a problem with the elevator, they can call 96333 to tell the monitoring center or complain to the users. Who is responsible for the problem? In fact, elevator accidents often happen. Statistics show that in the first half of this year, Guangzhou handled 2,173 elevator-trapped people and 1,341 elevator failures, and rescued 6,289 trapped people. The average time for rescuers to arrive at the scene was 14.4 minutes, 52% less than the national legal time. In the first half of 2015, there were 1.14 people trapped every 10,000 elevators every day, a year-on-year decrease of 25.97%. Then, who is responsible for the elevator accident? Yao Jianming said that it is necessary to implement the first responsibility and complete the elevator confirmation. It is an important prerequisite for the reform of elevator safety supervision to clarify the responsibility of the elevator user and clearly define the relationship between power and responsibility of each subject in each link. Elevator confirmation effectively solves the complex relationship among elevator owners, users and managers, and firmly locks the first responsible person for elevator safety. No confirmation, no use. The confirmation rate of Guangzhou elevator is 100%. Yang Yanhui, director of the Special Equipment Safety Supervision Department of the Municipal Quality Supervision Bureau, explained: "The Guangdong Province Elevator Safety Regulations, which will be implemented on October 1 this year, has the concept of a user manager, just like buying a car.This car is in your name, and if there is an accident, you will bear the responsibility. It is reported that the user manager mainly has 13 responsibilities, including daily supervision, maintenance, and first assuming the liability for compensation. How to repair hidden dangers? I hope to use the property maintenance fund. In practice, when some real estate elevators have problems and apply for property maintenance funds for maintenance, they encounter many difficulties, resulting in long-term shelving of elevators. How to solve this problem? It is reported that Guangzhou is establishing a system of elevator maintenance and use of public funds for housing maintenance to facilitate the use of funds. The newly revised "Guangzhou Property Special Maintenance Fund Management Measures" regards serious hidden dangers such as elevator rushing to the top and squatting at the bottom, and situations that the quality supervision department thinks need maintenance as emergencies that can directly use funds, creating convenient channels for the maintenance and use of funds. It is reported that the method has been completed for comments, but the official manuscript has not yet been issued. Yang Yanhui said: "The problem of elevator maintenance funds has really been bothering us. There are so many elevator problems in the market, some complaints have been dealt with, but they will not work in a few days. We sum up this phenomenon as psoriasis of elevator complaints. Some elevators need to be replaced. Where does the money come from? Take it from the housing maintenance fund, but some communities don’t have property maintenance funds. They only raise money from house to house, but many people don’t pay it, which affects the normal use of elevators. "