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The Central Meteorological Observatory continued to issue cold wave blue warning and foggy yellow warning.

　　BEIJING, March 15 (Xinhua)-The Central Meteorological Observatory continued to issue cold wave blue warning and foggy yellow warning at 06: 00 on the 15th: It is estimated that the temperature in the southeast of northwest China, the eastern part of northeast China, the southern part of North China, Huanghuai, Jianghuai, Jianghan and northern Jiangnan will drop by 6 ~ 10℃, and the temperature drop in some areas will reach more than 12℃ during the day to the 16th. On the morning of March 15th, there was heavy fog in parts of central Henan, eastern Shandong, northeastern Jiangsu, central Hubei, central and southern Hunan, northwestern Jiangxi and eastern Sichuan Basin.

　　The Central Meteorological Observatory predicts that due to the influence of strong cold air, the temperature in the southeastern part of the northwest, the eastern part of the northeast, the southern part of North China, Huanghuai, Jianghuai, Jianghan and northern Jiangnan will drop by 6-10 C during the day from 15th to 16th, and the temperature drop in some areas can reach above 12 C.. After the cold air front, the daily minimum temperature of 0℃ will be located in the eastern part of Huanghuai and the southern part of North China. In most of the above areas, there will be 4 ~ 6 northerly or easterly winds, and the winds on rivers and lakes can reach more than 7. There will be 7-8 northerly winds in the eastern sea area. Some areas in southern Xinjiang basin, central and western Inner Mongolia, western Gansu and other places have sand blowing or floating dust weather.

　　The Central Meteorological Observatory put forward a cold wave prevention guide: personnel should pay attention to adding clothes to keep warm; In production, be prepared for the defense against strong winds and cool weather; Doors and windows, coamings, scaffolding, temporary structures and other structures that are easily blown by strong winds are fastened, and outdoor items that are easily affected by strong winds are properly placed; Take shelter from the wind in sheltered places and notify outdoor workers to pay attention to safety; Pay attention to the latest information about media reports of strong winds and cooling down, so as to take further measures; Traffic, public security and other departments should prepare for road icing according to their duties.

　　The Central Meteorological Observatory also issued a foggy yellow warning. It is estimated that there will be heavy fog in parts of central Henan, eastern Shandong, northeastern Jiangsu, central Hubei, central and southern Hunan, northwestern Jiangxi and eastern Sichuan Basin from the morning of March 15th. Among them, there are strong fog with visibility less than 200m in parts of central and southern Henan, eastern Shandong, northwestern Jiangxi and eastern Sichuan Basin, and there are extremely strong fog with visibility less than 50m locally.

　　The Central Meteorological Observatory also put forward a fog prevention guide: because of low visibility, drivers should control their speed to ensure safety; Airports, expressways and ferry terminals take measures to ensure traffic safety.

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How did the cold wave of ＂freezing and crying you＂ come from？

"The north wind blows, the snowflakes are fluttering …", with the strongest cold wave coming in the second half of the year, this lyric can be said to be gradually becoming realistic. And the most personal feeling of us, especially our friends in the north, is probably "cold is a word". One by one, they were "frozen into dogs" and fully realized the "sour and refreshing" of "cold heart and flying heart".

So, how "frozen" is this cold wave? Where did it come from? How should we "deal with" it?

Double warning of cold wave and blizzard, local cooling is over 16℃!

The Central Meteorological Observatory issued a yellow warning of cold wave at 06: 00 on the 20th and upgraded it to an orange warning on the 21st!

The Central Meteorological Observatory issued a blue warning of blizzard at 06: 00 on the 20th!

The China Meteorological Bureau launched a three-level emergency response to major meteorological disasters (cold waves) at 09: 00 on the 20th!

Judging from the actions of the meteorological department, this cold wave cannot be underestimated. So how fierce is it?

The local temperature drop will exceed 16℃. The cold wave weather process mainly takes place on the 20th to 24th, and there will be strong winds and cooling weather in most areas in the central and eastern regions, and the average temperature will generally drop by 6 ~ 10℃, among which the temperature in southeastern North China, central and western Huanghuai, central and western Jianghuai, Jianghan, most of the south of the Yangtze River, northern South China, eastern Sichuan, eastern Chongqing and central and eastern Guizhou will drop by 12 ~ 14℃, and in southern Henan, western Anhui, central and northern Hubei and central and western Hunan.

Temperatures in many places hit a new low since winter. The cold wave weather will cause the lowest temperature in many places in China since the winter of this year, and some areas may break the historical record. In the early morning of 24th, the lowest temperature in the northern part of North China Plain will reach -10℃, and the lowest temperature 0℃ line will be located in the northern part of Jiangnan, and the lowest temperature in the southern part of Jiangnan and northern part of South China will reach 4 ~ 8℃! At that time, the southern friends who are still showing short sleeves recently should also wear long pants (even wool pants and cotton pants)!

National gale cooling forecast map

There is heavy snow in the north and heavy precipitation in the south. Since yesterday, North China has experienced a wide range of rain and snow, and Beijing, Tianjin and other places have ushered in snow at the beginning of this winter. Meteorological monitoring shows that the precipitation in the Beijing-Tianjin-Hebei region, western Liaoning and south-central Inner Mongolia is 2-9 mm, with snowstorms in northern Hebei and western Liaoning. With the continuous "going" of cold air to the south, affected by it and warm and humid airflow, North China, Huanghuai, central and southern Shaanxi, Jianghan Jianghuai and other places may usher in the first snow of this winter in this round. Today and tomorrow, there will be moderate to heavy snow and local snowstorms in southwestern Shaanxi, western Huanghuai, northern Jianghan and northwestern Jianghuai.

Beijing may welcome the coldest week in 30 years. Affected by strong cold air, the minimum temperature in Beijing will drop by 8 ~ 10℃ from 21st to 23rd, and it will drop to about -10℃ in the plain and -14℃ in the mountainous area. It is estimated that the highest temperature on Tuesday and Wednesday this week is only -2℃, and the last time such a low temperature occurred, it was -3.3℃ on November 28, 1987. The lowest temperature on Wednesday is expected to drop to -10℃, the lowest since -10.6℃ on November 29th, 1987.

Weather forecast for the next 7 days in Beijing

In addition, it should be pointed out that in addition to low temperature, rain and snow, the above-mentioned cooling areas are accompanied by northerly winds of 4-6 grades, and the winds in the eastern and southern sea areas are 7-9 grades. Strong low temperature, coupled with rain (snow) water and strong wind as "accomplices", the somatosensory temperature will be even colder, and the kind of "sour" will make you tremble!

Where does the cold wave of "Crying You Frozen" come from?

When it comes to where the cold wave comes from, there must be many friends who come with their mouths open: Siberia! Because in everyone’s impression, cold air seems to come from there. For example, in the weather forecast, it is often heard that "a cold air front from Siberia arrived in northern Xinjiang this morning …". As the highest level of cold air, cold wave is no exception.

This answer is right, but it is not accurate enough. To put it simply, when Wan Li comes to China not far from the cold wave, he usually passes through three "old nests", a "gas station" and four "ordinary roads".

The so-called three "old nests" are actually the three main sources of cold air: the first is on the southeast side of Iceland, the second is on the west side of Xindi Island, and the third is on the east side of Xindi Island. These three sources are all at high latitudes, and they are often oblique to or rarely seen by sunlight all the year round. The ground receives less heat from sunlight and the temperature is very low. For example, the temperature in the Arctic Ocean is often below -20℃ in winter, and the lowest can reach-60 ~-70℃. The average temperature in January is often below -40℃, which can be said to be a "production base" with good cold air.

Among the three cold air sources, 95% of the cold air passes through the central part of Siberia, where it is accumulated and strengthened. It can be said that it is an important "gas station" for cold air to go south, and it is therefore called the "cold wave key area". Therefore, the cold in Siberia can be imagined. The winter is cold and long, mostly at-20 ~-45℃, and the average annual temperature is lower than 0℃. Oymyakon, the "cold pole" in the northern hemisphere, is located here. Just three days before the cold wave arrived in China, many places in Siberia had dropped below -40℃.

Oymyakon, the "Cold Pole" in the Northern Hemisphere

After the "transit" in Siberia, there are four main ways to come to China: the first path is called the West Road, and the cold air enters Xinjiang in the direction from west to east, and then goes south along the Hexi Corridor and the east side of the Qinghai-Tibet Plateau; The second path is called Northwest Road (also called Middle Road), and the main cold air passes through central Mongolia to the south of Hetao area in China, directly to the middle and lower reaches of the Yangtze River and South China; The third path is called East Road, where cold air moves to northeast and north China through eastern Mongolia, and then spreads south from the lower reaches of the Yellow River. The fourth route is called East Road and West Road. The cold air in East Road goes south from the lower reaches of the Yellow River, and the cold air in West Road goes south from the eastern part of Qinghai. Two cold air streams join forces with the Yangtze River in the south of the Yellow River, and then break out to the south, affecting Jiangnan and South China. The intensity and weather conditions caused by cold waves in different paths are very different. Specific to the cold wave process, the "main force" of its cold air mainly comes from the northwest road.

Schematic animation of cold wave source and path in China

Bonus skills: what should I do in the face of the "high cold" cold wave?

1. When the temperature drops suddenly, it is necessary to add clothes to keep warm in time, especially to keep hands and face warm to avoid frostbite.

2. Beware of the strong wind brought by the cold wave, reinforce the structures that are easily blown by the strong wind, such as doors and windows, coamings, scaffolding and temporary structures, and properly arrange outdoor items that are easily affected by the strong wind.

3. When using coal stoves for heating (mostly in rural areas or some old residential areas), attention should be paid to keeping the room ventilated, so as to ensure that the furnace smoke is correctly discharged outdoors without leaking indoors, and to prevent carbon monoxide poisoning.

4. Avoid walking on the ice to prevent the road from slipping and falling; Try to avoid driving on roads, overpasses and bridges covered with snow and ice.

5. Old and weak patients, especially people who are sensitive to temperature changes such as cardiovascular patients and asthma, should try not to go out.

6. Pay attention to rest, don’t be overtired, and let your body have enough energy to keep warm.

The article was produced by China, a popular science student, and was authorized to be published in the column "Learning Science with Xiaobian" of CCTV. Please indicate the source for reprinting.

Production: weather intelligence team

Producer: computer network information center

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Smarter than smart cars, Aouita 12 static experience

　　In August 2022, Aouita 11 went public, and a year later, Aouita 12 arrived.

　　Aouita 12 locates the future smart luxury coupe. The front face is designed in a family style, and the split headlights are matched with daytime running lights, which is full of scientific and technological flavor. Different from Aouita 11, the headlights have a larger area and become more inward. Adopting active air intake grille can reduce wind resistance and let the battery dissipate heat; Second, it can visually make the proportion of the front of the car more coordinated. The body size is 5020×1999×1460mm, and the wheelbase is 3020 mm. The low-lying shape feels a bit like a sports car, with a large slip back and a full-fledged design rim, which is somewhat delicate in wildness. Aouita 12 is equipped with concealed door handles, and the integrity of the side of the car body is very good. Aouita 12 can be equipped with an electronic exterior rearview mirror, which has a wider view range than the traditional rearview mirror, and the view of the rearview mirror in extreme weather is not affected. The rear of the car looks very full and heavy.

Smarter than smart cars Aouita 12 static experience _fororder_image001

Smarter than smart cars Aouita 12 static experience _fororder_image002

Smarter than smart cars Aouita 12 static experience _fororder_image003

Smarter than smart cars Aouita 12 static experience _fororder_image004

　　Compared with Aouita 11 and Aouita 12, the rear of the car is more rounded and simple, and the roof glass extends to the rear of the car. The design of the hatchback+upturned duckling tail is the same as that of Aouita 11, which is very recognizable. It adopts a hidden electric tail with a LOGO that can light up. The taillights are very slender, echoing the front of the car. The car is surrounded by high-order auxiliary sensors. The front part of the car has semi-solid laser radar, millimeter wave radar, ultrasonic radar and camera. The laser radar is hidden in the black decorative strip in the back half of the left and right fenders. The new car will support Huawei’s advanced intelligent driving ADS 2.0 system.

　　Aouita 12 interior has a strong sense of science and technology, exquisite and bold. Instead of learning from the current aesthetic mainstream of new energy vehicle interior, it has created a unique interior design language belonging to the brand. The embracing 35.4-inch screen directly fills the sense of science and technology. The central control screen is the same as Aouita 11, plus the left and right rearview mirror screens, the technology buff is full. The new car adopts HarmonyOS Hsrmony OS 4 system, and the reaction speed of the car in the engineering car is still very fast, and it is expected that there will be new changes after it goes on the market. The new car adopts a three-spoke double-flat multi-function steering wheel, which is better controlled and has a better grip.

Smarter than smart cars Aouita 12 static experience _fororder_image005

　　There are many innovative small places in the car, such as opening and closing door buttons and window control buttons, which have become a straight-line design and hidden door storage space, so that the car is no longer messy and can be hidden. The seat feeling and space performance are still very good, and the car is made of genuine leather, which is full of texture.

Smarter than smart cars Aouita 12 static experience _fororder_image006

　　Aouita 12 will provide two power configurations: single-motor rear drive and dual-motor four-wheel drive. The maximum power of a single motor is 230kW, and the maximum power of the front and rear motors is 195kW and 230kW respectively. In terms of battery life, the latest news shows that the new car adopts 4C rechargeable battery from Contemporary Amperex Technology Co., Limited Ferrous lithium phosphate, with a capacity of 94.53 degrees. The cruising range of NEDC with single motor is 700km, and that of NEDC with double motor boards is 650km. And support high-voltage fast charging, charging for 10 minutes can supplement 400km battery life. (Photo: provided by Aouita Science and Technology)

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Ma Kaishuo： The Biden administration should wisely terminate its wrong policy toward China.

　　At the end of April, Ma Kaishuo, a professor at the National University of Singapore, attended the theme dialogue on Sino-US relations at DBS Bank, calling on Biden’s government to abandon the previous government’s wrong cognition and policies on China, adjust three understandings and change five policies.

　　Three point about adjustment

　　First, what are the more important long-term interests for the United States? If you want to know what is more important in dealing with China, the interests of the American people or the global hegemony of the United States. The Biden administration should give priority to the interests of the people and ensure that Trump will never come back.

　　Second, does China want to replace the United States as the global hegemon? China people’s world outlook is very different from that of Americans. China people just want to be respected and don’t want to change other people’s lifestyles. China doesn’t think its own system is applicable to any country, and it won’t interfere with other countries in choosing their own systems and models, and doesn’t want to change other people’s lifestyles. If China doesn’t want to replace the global hegemony of the United States, what does the United States have to fight against?

　　Third, what is the key factor that determines the competition between China and the United States? The United States has not yet understood that the fundamental competition in East Asia is not military, but economic. Americans always say empty-handed, "You must face China bravely and let us unite". China people said, "We want to help you build roads, bridges or ports". How can the United States make other countries give up their real interests and sacrifice their relations with China for the United States?

　　About changing five policies

　　It is not in Biden’s interest to continue the Trump administration’s China policy, and Trump’s China policy should be terminated wisely.

　　First, cancel all tariffs and sanctions imposed on China. These measures failed to hurt China, let alone help American workers or benefit American consumers. If the Biden administration doesn’t cancel these measures, it’s like threatening China that if it doesn’t listen to me, I will shoot myself in the foot again.

　　Second, stop publicly insulting China. Pompeo’s claim that there is "genocide" in Xinjiang is a complete lie. And Blinken is still repeating Pompeo’s argument. The United States has also made great mistakes in encouraging violence in Hong Kong. Pelosi said, "What happened in Hong Kong is a beautiful scenery", and I believe she should understand the meaning of this sentence later, because the same thing happened in the United States. Public insult is not the right way to deal with international relations, and the United States should try to have a dialogue with China on the basis of mutual respect.

　　Third, don’t cross the line on the Taiwan Province issue. The Taiwan Province issue is the red line of China, and there is no room for discussion. If there is any indication that the United States, Japanese, Indian or any other country is pushing the "Taiwan independence", it is tantamount to pushing China into a corner.

　　Fourth, change the strategy of the quadrilateral mechanism. The quadrilateral mechanism is an anti-China alliance under the Cold War mentality, which reflects that the United States lacks a strategy to deal with China’s return to the world stage. Why did more than 50 countries in Asia, even South Korea, an American ally, not apply for membership, because they did not agree to establish a new military alliance similar to the Cold War to balance China. This mechanism lacks long-term motivation and is unstable. The Biden administration should make a U-turn in Trump policy including this mechanism.

　　Fifth, really attach importance to regional economic cooperation. The advantage of China’s "One Belt, One Road" initiative is that the China administration has done better than the US government, but the US private sector has an advantage over the China private sector. The United States makes good use of these resources and develops benign competition and cooperation with China.

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78,400 bought 18 MG ZS, and the owner really evaluated it after driving for 1,176 kilometers.

Guide: 78,400 yuan to buy 18 models (||), the real evaluation of the owner driving 1176 kilometers.

With the acceleration of the pace of life, buying a car for walking is a matter of concern in our lives. Generally, when we buy a car, we all hope to find a car with high cost performance, and we will ask friends or people who know cars to learn about this car. So what about the ZS car? Is it worth buying? Today, Xiaobian invited a MG ZS owner to share his real driving experience, hoping to bring some help to your further understanding of MG ZS.

The owner’s car purchase information is as follows:

Purchase model: MG ZS 2018 1.5L manual comfort version V, the purchase price of bare car is 78,400, the average fuel consumption for daily use is 6.9L/100km, and it has traveled 1,176 km at present.

Advantages: What I am most satisfied with is the Zs face value. I like to see its front face, large opening design and vertical front from the side. Is this the trend of face value in the future?

Disadvantages: It is understood that this car is equipped with two engines, 1.5L and 16T, and it would be better if it could be equipped with a 1.5T.

Appearance: the appearance is beautiful, which is the first thing I choose. No wonder it is a small body shape: vertical front and side lines. The salesman showed me a picture, which is really the soul of design.

Interior: sitting in the cab and looking ahead, the instrument panel is made of soft bags, which looks high-grade, but are you worried about whether it will emit odor under hot weather and high temperature? Am I paranoid?

Space: My husband is 1.7 meters. Although he helped me choose a car, I am not big, but I also have to consider that it is embarrassing to take my family out to play during the holidays. My husband feels the Zs space, which is not bad. The back knee is about a fist, and there are about 10 centimeters on the top of his head. Later, I heard from the sales expert that it is very rare to have both the back space and the trunk space. It makes sense to think about it. The trunk volume can be lowered or raised.

Configuration: the price is still within the budget. The salesman is nice and sent me a lot of gifts on the bus. Not much to say, look at the pictures.

Power: I was still struggling with the engine at first. I drove in the city anyway, so I didn’t pursue power. I chose 1.5L natural inhalation. After all, the price is cheaper. I think I am rational consumption.

Fuel consumption: the car has just mentioned the hand, besides, the novice will not praise the fuel consumption, and then comment on the horizontal comparison when the technology is practiced: when I learned my driver’s license last summer, damn it, the steering wheel made my palms sweat.

Comfort: it is comfortable to hang, and the Wenzhou section is not good. I don’t feel like sitting on a bench when I cross a bumpy road.

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＂Dangerous City Fighting Tyrant＂ Hong Jinbao entered indiscriminately, Wu Jing and Peng Yuyan pretended to be asleep and funny

??1905 movie network news The movie is being filmed in Shaoxing, and Wu Jing exposed the movie set on Weibo on the afternoon of the 3rd, with the text "Two brothers who are tired and drowsy, I don’t know that danger is coming from behind", laughing and pointing out that he and Peng Yuyan are tired of taking a nap. In fact, Peng Yuyan is pretending to be asleep. One is Wu Jing, who has just created a hit miracle, and the other is Peng Yuyan, a popular fried chicken. The netizens not only call them "Jingyan combination" but also hope that they are together.

In the photo, Wu Jing and Peng Yuyan are wearing the ancient costumes in the film, and the two are sitting side by side at the shooting scene. Wu Jing’s eyes are lowered and his eyes are scattered, and his hands are hugged between his legs. Peng Yuyan appears in the shape of a beard, and his iconic big eyes are almost completely closed, looking sleepy. In fact, the two are deliberately tired from performing and taking funny photos.

The "Jingyan" combination made its debut, and Hong Jinbao broke in

??Peng Yuyan’s popularity has risen in recent years due to the popularity of other movies, and the upcoming release in August has also attracted much attention; while Wu Jing is a real trainer, and this year he has been promoted to "One Billion Emperors" with two works. The two popular fried chicken in the film industry joined forces for the first time to make a film, and the excitement of the action drama is evident, and the relationship between the characters is friend or foe.

??Interestingly, netizens found the figure of Hong Jinbao in the group photo of Wu Jing and Peng Yuyan. As the action director of "Dangerous City Fighting Tyrants", Director Hong personally took charge of every action scene, and the picture seemed to be guiding the country and deploying the next round of fighting between the two tough guys. Shortly after Wu Jing’s Weibo was sent out, Peng Yuyan forwarded that "a behemoth came from a mountain and a sea", which suspected that Master Hong Jinbao was the ultimate big boss with extraordinary skills.

??Chen Musheng, a former director and producer, is the director and producer of "Dangerous City Fighting Tyrant", and Hung Jinbao, the iconic name of the action movie, is the action director. It started in Shaoxing in April and is expected to be completed by the end of July. It will be available to audiences in 2016.

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Deng Chao’s ＂Paris Baby＂ exotic love, feeling ＂difficult love＂ again


Deng Chao stills

　　　 The romantic comedy "Paris Baby" starring Deng Chao, Jane Maggie, Jean-Barty Morrier, Clemens and many other film elites will be released nationwide on the 25th of this month. The film brings together a multinational film team and is filmed in France throughout the process. It has a "mixed-race" temperament. Deng Chao plays an international student in the film, but makes a mess of his life. A series of things happen because he is in trouble because of chasing a beautiful woman in France. Because of the needs of the plot, Deng Chao plays in a variety of shapes in the film, funny interpretation. The life changed by accident also makes him gradually mature, accept the test of love, and grow into a responsible man.

Deng Chao creates "laughs" in a variety of funny shapes

　　　 In "Paris Baby," Deng Chao plays Leo, who is studying in France, but falls in love with a blonde girl who loves to sing, and launches a fierce pursuit. After being "cut off from financial resources" by his father, he becomes involved in the life of another woman and has a child with her. At first, Deng Chao’s style is mainly handsome and handsome, and stylist Li Daqi specially matches his character with multiple bright, handsome and even a little ostentatious costumes to highlight his free and uninhibited personality. When "claiming" his right to stay in France, it is the climax of the film’s story. Deng Chao is with Jane. In the "struggle" of Ma Qi and her daughter, there are frequent funny tricks, such as detectives, blind people, Santa Claus and other shapes, performing alternative baby plans, which make people laugh and cry, but also feel the slow overflow of family affection in the details, which is touching. For the many shapes in the film, Deng Chao also revealed that "there are many styles that wear clothes, and there are also several styles that do not wear clothes." It is reported that Deng Chao will have several bold performances in the film. As for the degree of explosion, it can only be revealed when the film is released.

Deng Chao and Clemans experience "difficult love"

　　　 Deng Chao played Leo fell in love with the French beautiful woman Amy, one is the second generation of French rich, free and uninhibited; one is a French beautiful woman, working hard for singing dreams, seemingly impossible two people holding hands in getting along, and at the beginning of the film created a suspense: Leo and Amy’s wedding was interrupted by accident, so in love with the two people in the end did they walk together? In the "baby plan", Leo, who constantly feels the truth, will choose the daughter who appeared unexpectedly, or choose the favorite Amy, which is also a big suspense that will make the audience curious. The beautiful woman Clemens, who is partnered with Deng Chao, is a well-known French singer. This time, he also happens to be the one who works hard for singing in the film. For this beautiful woman partner, Deng Chao said, "Before the movie started filming, I heard her record brought by the director, with a very distinctive voice. In the play, Leo has to face the’torture ‘of four women in France. Only when he faces Amy, he is very attentive from beginning to end, even if it is the earliest means of pursuing with money. After a small breakup, he still matures and takes up his own emotions and responsibilities. This is what we want to pass on to everyone."

　　　 It is reported that coinciding with the Chinese Qixi Festival, the film side of "Paris Baby" also specially held a couple Qixi Festival early viewing activity today, which will screen this romantic comedy full of French style for couples in advance.

The next page: Jane Maggie’s love poet "Paris Baby" performs an alternative romance

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Wanda Film is about to change hands, and Tencent is looming behind Shanghai Ruyi

After Zhuhai Wanda Commercial Management’s IPO was postponed, Wanda, which was facing financial pressure, finally gave up control of Wanda Film.

On December 6, Wanda Film (002739.SZ) announced that it received a notice on the same day that the company’s indirect controlling shareholder, Beijing Wanda Cultural Industry Group Co., Ltd., and its wholly-owned subsidiary, Beijing Hengrun Enterprise Management Development Co., Ltd., and the company’s actual controller, Wang Jianlin, intend to transfer the 51% equity of the company’s controlling shareholder, Beijing Wanda Investment Co., Ltd. (hereinafter referred to as "Wanda Investment"), to Shanghai Ruyi Investment Management Co., Ltd. (hereinafter referred to as "Shanghai Ruyi").

Shanghai Ruyi is a "dark horse" in the film and television industry in recent years. It has successively produced many popular film and television dramas such as "Hello, Li Huanying", "Langya List" and "The Legend of Miyue". This year’s box office hit "Vanishing Her" also had Ruyi participating in the cast.

Shanghai Ruyi is owned by China’s 0136.HK. In terms of revenue volume, China Ruyi is inferior to Wanda Film. However, the largest corporate shareholder behind China Ruyi is Tencent Holdings (0700.HK).

The term of the betting agreement is less than a month away

Wang Jianlin sells Wanda Films "for money"

According to Wanda Film’s announcement, if the final implementation of the equity transfer is completed, it will result in a change in the company’s control.

In the back of the gambling agreement, Zhuhai Wanda Commercial Management impact IPO postponement, in order to resolve their liquidity difficulties, Wanda actual controller Wang Jianlin had to give up control of Wanda Film.

On November 21, Dalian Wanda Commercial Management announced that it would adjust the repayment plan for a US $600 million bond due in January 2024 of its subsidiary Wanda Real Estate International Co., Ltd. It said that due to the continued downturn in the real estate industry and rising interest rates in overseas capital markets, the company is facing certain difficulties in refinancing, and there is uncertainty in the approval of the listing of its subsidiary Zhuhai Wanda Commercial Management before the end of the year. In order to reduce the short-term liquidity pressure of the company, Wanda Commercial Management actively carried out liquidity management in advance, prepared to adjust the US dollar bond repayment plan, and adjusted the repayment plan for the bonds due in January 2024 to ensure the continued stability of the company’s liquidity.

It is understood that Zhuhai Wanda Commercial Management has submitted its statement four times, the most recent being on June 28 this year. According to the regulations of the Hong Kong Stock Exchange, the valid period of the prospectus is 6 months. If Zhuhai Wanda Commercial Management fails to pass the hearing of the Hong Kong Stock Exchange before the 28th of this month, its prospectus will become invalid. Previously, Zhuhai Wanda Commercial Management disclosed in the listing application materials that if it cannot successfully list at the end of 2023, the issuer will need to pay about 30 billion yuan to the pre-listing investors for share repurchase.

Recently, there are market news that Zhuhai Wanda Commercial Management intends to delay its IPO time in Hong Kong until 2026, and is currently in discussions with investors. In response to this news, Wanda officials have not responded yet.

According to Blue Whale Finance, a person close to Wanda revealed that after submitting the prospectus to the Hong Kong Stock Exchange for the fourth time at the end of June this year, Zhuhai Wanda Commercial Management has been making "two-handed preparations", cooperating with the Hong Kong Stock Exchange to advance the listing process, while negotiating with investors on the repayment of the 30 billion yuan repurchase money for the bet. The person also revealed that due to the large number of Wanda assets and relatively high quality, Wanda has provided investors with a variety of negotiation plans, and is still negotiating with investors.

According to public information, this year, in order to avoid a material default, Wanda has sold various assets in its hands many times to repay maturing domestic and foreign debts. According to incomplete statistics, Wanda has sold at least five Wanda plazas this year, including Guangxi Hepu Wanda Plaza and Shanghai Zhoupu Wanda Plaza. Wanda Real Estate also transferred Wuhan subsidiary Wanda Donghu Real Estate to China Huarong in June.

Previously 2.20 billion transfered 49% stake in Wanda Investment

Film and television circle "dark horse" Shanghai Ruyi takes a fancy to Wanda Film

The takeover of Wanda Film by Shanghai Ruyi is not without warning. In July this year, China Ruyi announced that Shanghai Ruyi, which is personally controlled by major shareholder Ke Liming, received 49% of Wanda’s investment for 2.262 billion yuan, becoming the company’s second largest shareholder. At the same time, Ruyi indirectly holds 9.8% of Wanda Film’s shares.

At that time, China Ruyi said that after the completion of the equity transfer, although Shanghai Ruyi will directly hold 49% of the shares of Wanda Investment, Shanghai Ruyi currently has no intention of appointing directors of Wanda Investment, nor does it intend to participate in its daily operation and management. Wanda Investment will not be a subsidiary of China Ruyi, and its financial results will not be incorporated into China Ruyi’s consolidated financial statements.

Shanghai Ruyi has been a "dark horse" in the film and television industry in recent years. According to public information, Shanghai Ruyi was established in 2013 and is mainly engaged in the production and operation of radio and television programs and film distribution business. It is a controlled structure entity in which China Ruyi holds 100% of the actual interests.

In recent years, Shanghai Ruyi has produced a number of popular films and TV dramas such as "Hello, Li Huanying", "To Youth", "Langya Bang", "Biography of Miyue", "Sewing Machine Band" and "Send You a Little Red Flower". This summer’s popular film "Vanishing Her" also has Shanghai Ruyi’s participation in investment. As of now, the box office of the film has exceeded 3.50 billion yuan. This year, the company’s main films include "Enthusiastic" and "Keep You Safe".

Shanghai Ruyi acquisition of Wanda Film, in addition to Wanda Film in the industry for many years, its overall performance this year is better than the industry average may also be one of the reasons. Financial data show that in the first three quarters of this year, Wanda Film’s operating income was about 11.347 billion yuan, an increase of 46.98% year-on-year; net profit attributable to shareholders of listed companies was about 1.114 billion yuan, net profit attributable to shareholders of listed companies excluding non-recurring gains and losses was about 1.103 billion yuan; net cash flow generated from operating activities was about 3.796 billion yuan, an increase of 127.69% year-on-year.

Wanda Film’s third quarterly report also shows that from January to September 2023, the company’s domestic theaters achieved box office of 6.22 billion yuan (excluding service fees), an increase of 67.6% year-on-year and 5.2% over the same period in 2019; the number of people watching movies 150 million, an increase of 68.7% year-on-year and 3.7% over the same period in 2019. Among them, the company’s domestic theaters achieved box office of 2.57 billion yuan (excluding service fees) from July to September, an increase of 102.1% year-on-year and an increase of 21.2% over the same period in 2019.

In addition, Wanda Film participated in the investment and production of films such as "Wandering Earth 2", "Bear Haunt: Bear Core with Me", "Cosmic Exploration Editorial Department", "Countdown to Say Love You", "Warm", "All-in-One", and "The Eighth Suspect", which were released successively. The overall box office performance was good; the invested series "Who is He" and "The Most Brilliant Us" were broadcast on satellite TV and streaming media platforms, and the ROI of film and television dramas increased year-on-year.

Behind the acquisition of Wanda Film

Is Tencent the biggest beneficiary?

In terms of revenue volume, China Ruyi is not as good as Wanda Film. Financial data show that in the first half of this year, China Ruyi’s revenue was 804 million yuan, and its net profit attributable to the parent was 262 million yuan. In 2022, China Ruyi’s revenue was 1.319 billion yuan, and its net profit attributable to the parent was 7.9 yuan. However, Ruyi is backed by major shareholder Tencent.

According to the data, China Ruyi was formerly known as Hengteng Network, and Hengteng Network was jointly established by Evergrande and Tencent. In October 2020, Hengteng Network wholly acquired Ruyi Film by allocating and issuing shares, subscribing for shares, etc. The total transaction amount was about 7.20 billion Hong Kong dollars (about 6.20 billion yuan at that time).

In November 2021, with the departure of Evergrande, Ke Liming, the actual controller of Ruyi Pictures, became the largest shareholder of Hengteng Network. In February 2022, Hengteng Network was renamed "China Ruyi". As of the end of the first half of this year, Tencent held 20.45% of China Ruyi through Lily Water Investment Limited, becoming its largest shareholder, and the second largest shareholder Ke Liming held 18.92%.

On July 4 this year, China Ruyi raised 4 billion Hong Kong dollars in funds, 90% of which is intended to be used for the development and expansion of film and game businesses. According to the Hong Kong Stock Exchange announcement, Tencent completed the subscription of China Ruyi’s new shares on the same day, and the shareholding ratio rose to 25.45%.

It is understood that Tencent has been in the online streaming media platform (Tencent video) and ticketing (cat eye) and other aspects of the layout of the entertainment industry. The acquisition of Wanda Film may help Tencent use the latter’s accumulation in offline channels to make a deeper layout of its entertainment industry.

According to Blue Whale Finance, after the cooperation was reached, Tencent and Alibaba have almost formed a full-scale confrontation in the field of entertainment, and even slightly better. An industry insider said in an interview: "This [acquisition] is more like Tencent’s siege and suppression of Ali."

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