# Advice

Title:
A schematic diagram of the high-speed grip


Title:
Maintenance platforms of different heights


Title:
A320 Series Multifunction maintenance work platform

Content:
We are interested in product 『A320 Series Multifunction maintenance work platform』. Please give me price and details.


# application

Content:
A, leakage inductance (hereinafter referred to as the leakage inductance of the)

Ideal (fully coupled transformer primary side of transformer winding should all through the vice of toroidal flux produced by the winding, no damage and leakage. But in fact regular transform transformer cannot be achieved without any damage and leakage. Flux produced by the original winding cannot all through the winding. The coupling part of magnetic flux in the winding conductor or has its own inductance, storage of energy in this "inductive" coupled with the main power transformer circuit. The inductance is what we call "the leakage inductance. Ideal transformer to requirements and of the insulation in order to get a very low electromagnetic interference (EMI) and need a very tight electromagnetic coupling to minimize the leakage inductance of the request, is contradictory.

When transformer without power () during the shift from power supply or switch is shut off, the leakage inductance energy storage to release form obvious noise. On the oscilloscope can see the high frequency noise spike pulse waveform. High frequency peak pulse waveform amplitude Uspike and the leakage inductance of the Lleak is proportional to the current relative time rate of change of the product. That is:

When the working frequency increases, the current relative time rate is increased. The influence of the leakage inductance will be more serious. The influence of the leakage inductance and is directly proportional to the switching speed of the converter. The leakage inductance of the produce high peak pulse can damage the power converter device and forming obvious electromagnetic interference (EMI). In order to reduce the leakage inductance of the spike pulse amplitude Uspike, buffer network must be added in the converter circuit. But the buffer network, will increase the wastage of the converter circuit. As working frequency converter circuit, loss increase, the efficiency is lower.

(1) high voltage transformer winding capacitance

When the transformer winding is a multi-layer winding, it is the potential difference between the top and bottom windings. Have a potential difference between the two conductors, there is a capacitance. The capacitor is referred to as "winding capacitance. When working in high frequency, the capacitor will charge and discharge at an alarming rate. Capacitor charging and discharging process will produce loss. In a given period of time, it is the more the number of charging and discharging, loss is big.

(2) the proximity effect

(3) the skin effect

(4) local hot spot

Regular transformation work in the high frequency transformer, magnetic core there will be local hot spot in central. Therefore, in order to reduce the thermal effect, the conventional transformation when the working frequency of transformer to improve, must be correspondingly reduced its magnetic flux density, increase its volume. This makes the can't use it to do the high power density of power supply.

For the low output voltage ideal type converter, its step-down ratio is very high. With conventional commutation transformer, usually 1 output winding coils, it takes about 32 turns the original winding. Multilayer is needed so that the original winding arrangement, and thus the leakage inductance and capacitance between windings, skin effect and proximity effect seriously adverse factors exist in the commutation transformer.


Title:
The capacitor is referred to as "winding capacitance.


Title:
charging and discharging process will produce loss


Title:
transformer primary side of transformer winding


Title:
leakage inductance. Ideal transformer to


# community

Content:
主要测试公司内部开发的系列移动电源的安全可靠性以及外购的移动电源电气性能验证试验，测试的项目包括电性能：空载、满载电压，激活方式，输入电流，满充效率，转换效率，循环寿命和核电性能；集成性能：指示功能，开关寿命，USB输出脚电压，纹波；保护功能：过充、过放、反充、过载、短路等；环境适应性：耐高温、耐低温、耐高温高湿性能，耐盐雾性能，温度循环贮存性能，振动、跌落、电池兼容性能，表面温升和外壳阻燃性能。

移动电源测试仪
BTS-2404，设备可以测试电源产品的在规定充电电压下的充电电流，电源产品的某一通道的输出空载电压/输出电压、最大短路输出电流或者短路保护时间、交流内阻。支持各种条码扫描器；可以通过电脑网络连接SQL服务器,设置参数和保存测试数据；支持在线免开盖校准。

耐磨测试仪
采用RCA纸带，LED屏自动计数，0-9999圈可调，可满足各种材质之表面处理如UV漆、橡胶漆、镀层等耐磨性测试，仪器采用摇动臂和垂直微调螺丝相结合，使得测试时施加在被测物体上的力准确稳定，只要用来测试移动电源外壳表面耐磨性能。

百格刀具
11个锯齿刀口可连续划线，水平和垂直方向用力划下，形成100个小方格，采用强力3M胶纸急速撕离，主要用来测试移动电源外壳镀层、油漆的粘附性能，保证外壳使用过程中持久不退色、不变色、不脱色。

移动电源老化测试仪
RePower CELLTEST V3.70——5V/5A：8位独立测试通道，有恒流恒压模式，最高工作电压5V，工作电流5A，是本司专门针对5V1A系列移动电源循环寿命测试研制而成。能连续自动按照设置工步执行程序，断电可接续之前的测试继续测试，连续记录电源的电压、电流、容量和时间，只要用来测试移动电源循环寿命性能。


Content:
1> 高温短路试验箱：
模拟高温环境，测试电池高温短路时的安全性能，具有自动保温功能，也可用于常温短路、热冲击等试验。

2> 电池热冲击试验箱：
模拟外界迅速升温环境，具有程序升温功能，操作方便，以一定的升温速率在规定的时间内达到测试温度，并保持一定时间。采用热风循环系统，保证工作温度分布均匀。具有超温保护功能和定时停机功能。

3> 电池焚烧炉：
用于测试电池在遭受外界火源时的安全性能。自动点火，试验过程自动控制,可以全程录像。

4> 重物冲击试验装置：
模拟电芯或电池受到重物冲击时的情形。远程控制，安全可靠。可以全程录像。

5> 挤压试验机：
模拟电芯或电池遭受外界挤压时的情形。电池在两个平面被挤压，通过液压臂施加约13KN的挤压力，挤压持续至液压装置上的压力表读数到达2500（17.2Mpa），一旦达到最大压力，就解除挤压。压力、挤压时间、计量单位可自由调节，性能可靠。可以全程录像。

6> 针刺试验机：
模拟电芯或电池内部短路时的情形。针刺速度、压力大小、针刺时间可调，夹具固定电池，可以全程录像，安全设施齐全。

7> 跌落试验机：
该仪器试件最大重量为2.0kg，跌落高度300-500mm（可调），不锈钢标尺，气压吸附式夹持方式，支持多部位、多角度（棱、角、面）跌落方式。适用于电池、移动电话、电子词典等小型消费类电子制品及零部件之自由落下试验，能满足GB8897.4-2002 、IDT IEC60086-4:2000等测试方法之需求。


Content:
主要测试电池或电芯的环境适应性能。可以对电芯或电池做恒定湿热、盐雾试验、高低温试验、电池低压模拟等试验。内设可程式恒温恒湿试验机、精密型盐水喷雾试验机、高低温试验箱、低压模拟试验箱、电热恒温干燥箱等设备。部分设备介绍如下：
可程式恒温恒湿试验机：
该机器可以同时控制温度（-20℃-150℃）和湿度(20﹪-98﹪R.H.)，数显仪表，精确灵敏，触屏操作，方便快捷。具有编程功能，自动化，智能化。用于模拟电池的存储环境（低温、高温高湿等），也可作电池高低温循环试验，测量电池的环境适应性能。
结构：进口冷冻系统、电子安全保护系统、风道系统、加温加湿系统、感测系统、水路系统、控制系统。
精密型盐水喷雾试验机精密型盐水喷雾试验机：
主要对各种材质之表面处理，包含涂料、电镀、无机及有机面皮膜，阳极处理、防锈油等防腐蚀处理后测试制品之耐蚀性。仪器特点：
1> 具有自动/手动加水系统，水位不足时能自动补充水位功能，试验不中断；
2> 温度控制器使用数字显示，PID控制误差±01. ℃；
3> 双重超温保护，水位不足警示确保使用安全；
4> 试验室采用蒸汽直接加温方式，升温速度快且均匀，减少待机时间；
5> 精密玻璃喷嘴可调节雾气，雾量。喷雾塔之锥形分散器均匀落雾扩散，并自然落于试卡片，并保证无结晶盐阻塞；
6> 饱和空气桶采用亨利定律，予以加热加湿，并提供试验室所需之湿度。(可自动调节试验箱湿度）。
 
高低温试验箱：
模拟电池的高低温存储环境，可作电池高低温循环试验（环境适应性），高低温放电试验（电性能）等试验。微电脑程序控制，温控范围：-40℃-150℃，精确的温度感测系统，箱体内温度均匀，数字显示，钢化玻璃视窗，安全可靠，性能稳定。
 
电池高空低压模拟试验箱:
电池高空低压模拟试验装置是模拟电池在高空运输中可能出现的低气压环境（11.6kPa）的贮存状态，。针对UL、EN、IEC等标准试验要求而设计，在短时间内达到样品的低气压存放状态，可自动控制试验周期，全程监控箱内气压变化，实现试验的自动终止。具有程序控制气压恒定和使用减压阀实现过压的安全保护的特点。


Content:
主要测试电池材料中是否含有对环境有害的元素及有害元素的含量。可检测铅(Pb) 镉(Cd) 汞(Hg)等50余种元素。内设原子吸收分光光度计（含火焰原子发生器、流动氢化物发生器）、电子分析天平、电热蒸馏水器等。

原子吸收分光光度计：
主要用于痕量元素杂质的分析，灵敏度高，选择性好。广泛应用于各种材料中微量元素的分析，可检测铅(Pb) 镉(Cd) 汞(Hg)等50余种元素。本公司主要采用该仪器对各种电池材料的有害元素含量进行定量分析。有火焰原子吸收和氢化物原子吸收两种发生器。前者可检测到ppm级（10-6），后者灵敏度在ng/ml级（10-9）。

电子分析天平CP214：
具有全自动故障检测，外置法码，自动校准，全部线性四点校准，超载保护等多种应用程序，测量精度可达万分之一。五面全透明可拆卸玻璃风罩，液光显示屏显示，读取数据方便。内置式下称吊钩。
设有计件称量，百分比称量，单位转换（毫克、克、千克、磅、克拉、盎司）、稳定度、全量程去皮等多种功能，操作简便可靠。内置RS232C接口，可直接连接计算机，打印机等设备

电热蒸馏水器：
电热蒸馏水器用电加热饮用自来水，以蒸馏方法制取纯水，可供医疗卫生、制药、电镀以及实验室等部门使用。


Content:
主要测试各种充电器，适配器等电源产品的电气性能、可靠性及安全性，以确保本公司相关电源产品的电气性能、安全性与可靠性符合客户要求。测试项目包括输入特性：输入功率，输入电流，输入电压变化，输入频率变化，空载损耗，电源转换效率等；输出特性：输出电压，线性调整率，负载调整率，纹波及噪声等；可靠性安全性测试：高压测试，绝缘阻抗测试，温升测试，高低温冲击测试，低气压模拟测试，跌落测试等。

高压机：
具备交直流耐压和绝缘阻抗测试功能，输出耐压参数：AC5000V 12mA,DC6000V 5mA，电压精度1%，漏电流测试精度0.01mA，绝缘阻抗电压0.1-1KV，绝缘阻抗范围1-1000M。可根据不同国家标准设定测试参数，测试仪器具备自动编程控制模式，测试电源耐压和绝缘阻抗一次完成，不良报警提示。

变频电源：
设备采用开关电源脉宽调制方式，输出功率容量500VA.输出电压0-300V可调，负载率≤0.5%。频率45-70Hz可调，定点频率：50Hz、60Hz、100Hz、200、400，频率稳定度0.01%。波形失真率≤2%。输出数码管显示功能，能直观读取：频率（精度0.1Hz）、电压（精度0.1V）、电流（精度1mA）、功率(0.1W)、功率因素(精度0.001)参数。

示波器：
TDS1012B-SC,具备双通道检测，每个通道2500点，彩色LCD显示器，带宽100MHz,具备多种触发方式设定。可设定自动测试程序，自动量程，可设置和存储波形，具备直接连接PictBridge打印机打印功能，也可通过端口直接连接电脑存储数据。测试界面除波行外，还可显示：波峰值，平均值，均方根值，频率，上升时间等参数。

电子负载：
IT8518B单输入可编程电子负载，输入功率最大5000W，输入电压最高300V，最大电流120A,仪器具备高可见度的真空荧光显示屏，数字键盘操作，全数位化可程序接口。具备过电压，过电流，过功率，过热，极性反接保护。操作模式：定电压，定电流，定电阻和定功率。具备电池测试功能，数据记录功能，短路功能，动态测试功能等。具备RS232数据通讯接口。可用于大功率充电机和大电池测试。


# drive

Content:
On December 16, hosted by the Chinese film and TV technology association, Beijing star television equipment technology co., LTD and undertaken by shandong province wulian county radio and TV station of the LED green lighting applications in TV studio energy-saving technology exchange meeting, held a grand new concert hall in wulian broadcast television. Relevant leaders and experts from various provinces and cities, the television station lighting engineers nearly 50 people attended the meeting.

During the meeting, Chinese film and television technology, deputy secretary-general of the silence, promotion division director of the national energy conservation center information high, wulian leading each delivered a speech. Bao-guo wang, director of the China central television production department, the participating experts made the wulian station 1300 square meter studio engineering case analysis ", such as keynote, and around the LED green lighting application conducted extensive exchanges in the TV studio.

During the meeting, the guests at the scene to watch the demo lighting, audio, LED color screen. Dazzle beautiful lights with high quality sound effects, coupled with the LED color image rendering, make the guest feel not only people in the picture to the harmony of artistic conception, at the same time, more can enjoy the LED green lighting lamps and lanterns of all comfortable visual environment.

Guests attending the meeting about the stars and wulian radio and television, film and television common build LED green lighting in the television studio application demonstration project to be fully recognized, LED green lighting lamps and lanterns and provided by the starlight advanced equipment gave high evaluation.


Title:
area under the background of national strategy, the traditional construction industry


Title:
visionbank of subsoil in the industry for many years


Title:
isionbank for those routes, to carry out the strategic


Title:
continuous development and expansion of the company


Title:
together and people, and gather amount shall be borne by


Title:
around the parties involved in the construction site


Title:
meanwhile, combined with macro, industry and visionbank


Title:
transformation, both to shoulder the mission of new ecological building


Title:
ather amount shall be borne by the popular material


# Flag

Purview:
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Purview:
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# News

Title:
Hopson treasure China electricity council combining several authority

Content:
Recently, huijin hopson (Beijing) investment management co., LTD., won the China electronic commerce association awarded the certificate of the China electricity council, by the China electronic commerce association electricity council member units. Marking the company operating the Internet information platform of investment and financing, hopson, received the affirmation of electricity industry. 


Recently, hopson treasure is "big" constantly, in March, at the beginning of the line, and with the third party payment platform, yeepay pay escrow agreement, will be hosting platform all funds, strict enforcement of regulations do not set the pool. In mid-april, hopson treasure of the first enterprises in the financial industry, the country's first Internet service platform - zhongguancun Internet financial services centre, to become the pioneer of Internet standard operation. At the end of may, hopson treasure with state-backed, financing guarantee agencies - dried signed a strategic cooperation agreement, a comprehensive upgrade security level. , so to speak, as in March this year launched a new platform, hopson treasure to establish cooperative relations with a number of industry authority, both on the platform of the strength, is also the masses of users to accrete treasure initial recognition results of operations. 


In addition, as a rising star net credit platform, hopson treasure in cooperation with the authority of the process, constantly enhance their strength, and create, including security, independent wind control, the new operation mode of combining online. 


At the same time, hopson treasure by integrating existing resources advantage, launched JiYuanBao, FengYuanBao, double wing and other diversified financial services products, striving to individuals, institutional investors investment demands and the combination of micro, small and medium enterprises financing needs, build more efficient, transparent, security of information bridge, satisfy customers diversified investment and financing needs. Pratt &whitney for financial innovation driving the development of industry, financial development to provide power.

info:
Recently, huijin hopson (Beijing) investment management co., LTD., won the China electronic commerce association awarded the certificate of the China electricity council, by the China electronic commerce association electricity council member units. Marking the company operating the Internet information platform of investment and financing, hopson, received the affirmation of electricity industry.


Title:
Internet + intellectual property services under the tide of electricity: is a passer-by or future winners?

Content:
When the strong wind swept through, "Internet +" intellectual property agency services on the wind. Blended, cicadas, fast, patent baba, wisdom island... The spring up of intellectual property service electrical contractor, is using a new service mode, are taken quite a storm in the industry. 


They are full of creative passion and efforts to break the traditional service mode of the "evil", explore the use of the Internet, thinking to provide more quality services, and firmly believe that under the spring tide of the Internet, the traditional service pattern will change. Profit model is not yet clear, however, the future business model also unclear, "Internet +" intellectual property service electrical contractor, under the tide of passers-by or future winners, it remains to be the market test. 


Compete to enter Each with a "secret weapon" 


If 2014 is intellectual property service electrical contractor bud, then in 2015, is a rapid development. Founded in March 2014, known as blended; In December, fast running with wisdom. In 2015 the national intellectual property during the week, intellectual property service electrical contractor is more intensive, patent baba, know master, the new right of cicadas, master has launched within a few days. Recently, the intelligent island also unveiled. They are racing to come on stage, but also shows its own "secret weapon". 


Know blended set up earlier and has been developing rapidly, which provides free online trademark registration service, make it in A short span of more than 1 year attracted A large number of customers, the company size from five or six personal development to dozens of people, trademark DaiLiLiang also reached nearly 20000, recently received $3.7 million in A round of funding. Young master not only the weight of the launch of the free trade mark registration, also launched a free free trademark patent management and patent free monitoring, early warning and other services. 


Focus on building together the applicant for a patent and the patent agency cicadas network of third-party platform, launched a patent application service system of cloud, the applicant may according to the system prompt, templates, etc., their complete patent application document writing. Applicant if find it hard to complete, cicadas network can also recommend the most appropriate for users intelligent patent agency. Intelligent island patent online is a gathering of applicant, patent agents, lawyers and other platform, through this platform, applicants are free to choose the right agent to provide services. 


In addition, a fast wisdom also launched 15 days to submit the response of the instant service; Baba is launched online patent application, patent limited-time discount, etc. 


Concept of diversity The development of forms 


The reporter understands in the interview, although blended, cicadas network, fast wisdom master, rights are intellectual property services such as electricity, but there are a lot of on the development idea is different, the specific development form is also different. 


Know si-si liu, chief executive of blended in view, the intellectual property rights is critical to the success of the service electricity future development idea, on whether to adopt open attitude. Intellectual property service electrical contractor only transparency, improve efficiency, reduce costs, reduce prices, to meet the needs of users. "Know all blended trademark registration service process can be done online, as soon as both sides determine service registration can be completed on the day of submission." Si-si liu said in an interview with our reporter. And also provide free right to the trademark registration service master, positioning is done in trademark agency and the applicant a third party platform. 


Different from known to provide whole process such as blended online services, quick service models involving online part of wisdom is little, more work is offline. "The Internet is thinking and tools, form of expression is not necessarily the web and APP. Patent agents need to face to face communication with customers, so the current fast wisdom put more energy on the combing offline service standardization, improve the user experience, the improvement of service quality, etc." Fast Zhu Guqun, chief executive of wisdom of our reporter said. 


Cicadas net is another pattern: on the third party service platform. "Patent agency industry is not moving the traditional service mode from offline to online, or pure offline mode into O2O (online e-commerce) model can, but need to consider the construction of the ecological system. At present, how to change the user ideas, I think it's in the busy background should solve the problem. In the future, intellectual property service electrical contractor win the key to success is the user." Cicadas net head hua-bing liu said. 


Profit in business model is unknown 


Intellectual property service electrical contractor for various "attractive" conditions, attracted widespread attention, and some users have started trying to use these new services. But the problem is an unavoidable, launch services in in full swing at the same time, the intellectual property service electrical contractor is difficult to achieve profitability. The reporter understands in the interview, at present, blended, cicadas network master, the faster the wisdom, power and so on all is not profit, profit model is still in exploration. 


But these entrepreneurs with confidence. "Intellectual property service the development of the electricity is still in the exploratory stage, along with the increase in users, the development prospects of the future will be very broad, there will be a lot of profit. At present, we're not thinking about the profit." Right ChaoYangFei, founder of the master of our reporter said. ChaoYangFei this view is representative, the reporter interviewed several intellectual property services, head of the electric business platform. 


Worry is not a little all have no, of course. "Strong professional intellectual property service, industry relatively closed, via the Internet pattern breakthrough, it is difficult in the short term, whether the patent agency or users, require a longer time to cognitive. Before the demand side and service side of cognition has not changed, it is too early to talk about profit model, business model may. Intellectual property service electrical contractor is passing through or future winners, it is hard to say." Hua-bing liu said. 


Not only that, but in hua-bing liu's view, the future of intellectual property services more electricity, is bound to have a competition, is not only the traditional patent agency and electronic business competition, there will be competition between electric business. "Free today, maybe tomorrow have to send the money, and the question of how much to send money and send. What is your platform advantage, is to consider clear." Hua-bing liu said.

info:
When the strong wind swept through, "Internet +" intellectual property agency services on the wind. Blended, cicadas, fast, patent baba, wisdom island... The spring up of intellectual property service electrical contractor, is using a new service mode, are taken quite a storm in the industry.


Title:
After 99 stage financing: increase m&a action into cities

Content:
DoNews feature on May 22 (reporter to close) interest in installment, the rapid rise of installment, strong occupied the capital market and the personage inside course of study for campus staging concern in the field of consumption. Contrast this aura that grabs an eye, two enterprises 99 staging is a lot of low profile. 


Although don't like boring stage was known to the outside world, however, than boring stage set up in the morning a month 99 staging, had realized the full-year earnings in the past year, and maintaining a state of profitability. 


In addition, during the Spring Festival this year, 99 stage financing also completed A round of thirty million yuan, the investor, respectively from the domestic capital and risk investment institutions rock a-share listed company background melts silver capital investment company. 


99 staging CEO Yang Yuzhi admits, although compared with the installment, boring stage, 99 staging only one of their points, the financing of the performance gap, however, only two or three times, the company will enter the overall acceleration phase. 


Entrepreneurial experience precipitation for many times 


Although after 90, Yang Yuzhi but already has several business and Internet experience, and once in university period is responsible for the entire campus market shake handshandle net business operations and promotion, is the most profound of Yang Yuzhi an experience. 


Yang Yuzhi memories, shake handshandle net line, on the day of his and four other classmates then contacted wu (the original founder of shake handshandle net), for about two weeks before and after the communication, five people has become a regional agent in heilongjiang province, and launched the shake handshandle net buys the first site - shake handshandle net station of daqing. 


"Do shake handshandle net, water millions of a month, I lead to push the team has more than 100 people, that we have more than one thousand school campus ambassador, I do in heilongjiang and the main region of gansu, therefore also drop out of school for a year. Until I left, the whole area or a profitable." 


Leave after the shake handshandle, in 2012, Yang Yuzhi again with friends new business, this time in the direction of the target and small lending institutions go back to the bank, do is similar to the 360 financial products search platform. Although in the end the project re-gifted sold, but this time the entrepreneurial process allows Yang Yuzhi saw the new business opportunities. 


The wind control system 


In this time of the entrepreneurial process, Yang Yuzhi contact is the most appropriate letter personal credit management and wealth management platform. Yang Yuzhi entrepreneurship programs and appropriate letter, more than 70 cities have cooperation, credit manager basic every day to be able to give each credit manager back in one or two orders. 


Because of long-term cooperation relations, Yang Yuzhi for appropriate letter risk-control system have a general understanding. "Proper trade wind control the front three: clock in jobs, wages and social security. Specifically, the work will prove lenders income is relatively stable, social security is that lenders guaranteed, risk is lower, with clock in wages can objectively reflect the borrower's income." 


Yang Yuzhi will appropriate letter risk-control consumer market corresponds to the campus stages: students in the school four years is stable, the surrounding environment and the crowd is relatively stable, students pay attention to personal credit image, and China attaches great importance to the education since ancient times, not poorer poor education, parents could not give students living expenses. 


"Corresponding to come over, we can do think of this market segment, and then we did almost 3000 survey in the baidu post bar samples, feedback as we expected, so we launched the 99 staging of this project", Yang Yuzhi said. 


The cost of living is limited students consumption impulse group, in the past few years has multiple occurrences of bad debt rate is too high. Yang Yuzhi know that, if you would have a better risk control, in addition to the appropriate reference letter, you also need to do more. 


Therefore, launched since 99, this part focuses on the risk control by installments current 99 has achieved big data wind control installment, that is, except for the student to provide data 99 stage through data with a third party company and credit reporting company cooperation, access to other materials, such as social data, records of consumption, more data. 


Except through the large data of wind control system for lending to prepare students, 99 staging platform will give legal tips, told the reimbursement may lead to not be pull into the blacklist library, through 99 in installment, and other network platform will not be able to borrow loan; At the same time, with personal credit licence 99 stages with three companies, if not reimbursement means that even the bank can't deal with business in the future. 


For the students have been borrowing, 99 staging platform will before the reimbursement amount has not yet reached a certain standard, limit its secondary consumption. 


"The wind control system, our bad debt rate is less than two over ten thousand" for all of last year, Yang Yuzhi disclosed. 


Preparations for the new three board listing 


Yang Yuzhi, according to online since 99 in installment mainly focused on second - and third-tier cities, through the offline to push people to the school. And in the completion of A round of funding, 99 will expand cities in stages, and march to first-tier cities. 


"Three people from one city to 15 people in five cities, we spent six months time, 300 people from five cities to 30 cities we spent six months time, this year we decided to spend six months in 100 cities." 


In addition, in terms of category, the current 99 stage mainly provide the installment product category is given priority to with digital 3 c, and since July, 99 in installment will start to travel, education training, such as driving category extension. 


Yang Yuzhi said the 99 staging of net income is controlled in 3% to 4%, the order quantity of each month at around 20000, the present data continues to double. "Next year we plan to do 100-120 million." 


In addition, Yang Yuzhi also revealed that 99 staging the oldest college in the last year bought the installment consumer financial services platform, immediately launched a new regional mergers and acquisitions. However, Yang Yuzhi always refused to disclose the details of the company. 


For A new round of financing, Yang Yuzhi, said the company is B round, hope to introduce the a-share listed companies as A new round of financing of the investor. "After B round of funding, we dashed forward a period of time, listed on the new three board for next year, become the industry's first listed campus financial platform."

info:
DoNews feature on May 22 (reporter to close) interest in installment, the rapid rise of installment, strong occupied the capital market and the personage inside course of study for campus staging concern in the field of consumption. Contrast this aura that grabs an eye, two enterprises 99 staging is a lot of low profile


Title:
Visionbank to formally announced transformation + Internet platform service providers to construction projects

Content:
China securities network - May 19, visionbank amounted to (35.85, 1.00, 2.71%) investor conference. Bio, visionbank President xiao-ping jia officially visionbank will implement the strategic transformation, building construction engineering + Internet platform service providers. 


All the way in the new normal, Internet + and area under the background of national strategy, the traditional construction industry facing important opportunities and challenges, visionbank of subsoil in the industry for many years, with professional technology, resources, such as hard to shake the competitive advantage, therefore, visionbank for those routes, to carry out the strategic transformation, both to shoulder the mission of new ecological building construction field, and ensure the quality of continuous development and expansion of the company, enhance core competitiveness. 


Xiao-ping jia said, visionbank transformation strategy available "two together, two circles, one built" to describe, pointing to the huge potential market. "Two together" is to get together and people, and gather amount shall be borne by the popular material net, polymerization between the purchaser and supplier batch purchase, provide a lower cost, "poly people" around the parties involved in the construction site; "Two circles" refers to the "enclosure" and "floor", namely is to circle the construction site and LouYuYun d; "Building" is the "building", the component library based on BIM, establish the core advantage, get big data, to carry out project as the core of credit reporting service. 


Xiao-ping jia, meanwhile, combined with macro, industry and visionbank reach their own actual situation, interpreted the reason, target of visionbank of transformation. 


From a macro perspective, the Internet + the trend of The Times, to average consumer, from aspects of the use, the online retail, little difference between our country and the United States and other developed countries, and even some aspects has surpassed the United States. For corporate users, our Internet use and Internet retail rate is only 21%, 20-25%, the United States accounts for 55-72 and 72-63%, development degree is only a third of that in the United States in our country, therefore, the Chinese industry the development of the Internet space is huge, is flourishing. 


From the point of construction industry, construction industry is the development trend of green and wisdom, and the national housing also launched main measures of promoting new industrialization construction, namely, to promote construction of motors, wisdom, greening, which requires construction enterprises from the aspects of technology and management level of continuous improvement and innovation. Therefore, visionbank with BIM, Internet of things, intelligent hardware, big data and cloud computing, mobile Internet as the main means of information technology, to support and guide the development of the traditional construction industry. Especially, the Internet + will reconstruct the new ecological construction, not only the existing entities builders, will rely on the birth of Internet platform hardware and software vendors, Internet service providers, professional consulting services, credit bureaus, such as financial partner digital builders. Therefore, the construction industry informatization in procurement, construction, big data, financial, operational exist in such aspects as the potential are extremely huge market scale and space, broad prospects. 


From visionbank of itself, the company is China's first listed software company informatization construction engineering industry, has focused on informatization construction industry, with all kinds of independent intellectual property rights of core technology and patent, at the same time, through years of cultivation, visionbank accumulated a lot of customer resources and data, with other companies incomparable industry status and advantage. 


Xiao-ping jia visionbank was introduced in detail in the meeting of the development direction of the business sector during the period of transition, the next three years, visionbank da will gather people and circle (work), big data, based on the credit system of the project, e-commerce, Internet financial breakthrough, large-scale promotion, visionbank in internationalization, at the same time actively in southeast Asia, Europe, North America market and strengthen development layout. 


Then, visionbank related business department head respectively from professional application, data services, e-commerce, Internet financial and internationalization direction for the company's specific business sector has carried on the explanation of the introduction and interpretation. At present, visionbank each transformation work going in an orderly way, and each business sector is progressing, the layout in the long run, specific goals. 


Conference, many investors said, now in the past in the vertical field of IT service vendors, industry to the Internet, is the biggest opportunity visionbank also based on the change of external environment, and connecting with the accumulation and advantages, and actively to the transformation of construction engineering + Internet platform service providers, clear steps, layout. The transformation, will also become a traditional construction industry a benchmarking, Internet + visionbank da will not only continue to lead the construction industry development direction, will also become a new ecological building construction industry.

info:
All the way in the new normal, Internet + and area under the background of national strategy, the traditional construction industry facing important opportunities and challenges, visionbank of subsoil in the industry for many years, with professional technology, resources, such as hard to shake the competitive advantage, therefore, visionbank for those routes, to carry out the strategic transformation, both to shoulder the mission of new ecological building construction field, and ensure the quality of continuous development and expansion of the company, enhance core competitiveness.


Title:
From music phones and Newman buttons about Internet value-added services

Content:
12 noon, on May 19, depending on the spot open mall to buy 200000 units enjoyed 1/1 Pro. According to official figures, pro spot 1 seconds, enjoyed 1 spot sold out 3 minutes 46 seconds. Regardless of how many water, there are how many cattle this powder our for the moment when it's full of real buy. But for how many of them are at the Internet value-added services, the author said doubt it. 


Music as offering a free "hardware" the standard is enough to attract eyeball - in every purchase music depending on the full screen video membership service (490 yuan), the hardware price straight down 300 yuan; And one-time buy five year free membership hardware (super, super TV mobile phone fee each stack). This perfect to cater to the Chinese people love showed, for "free" the word can't resist the psychological. At a draught dizziness brain under the heat will be tempted - think of those who have been buying $0 contract machine. 


But unlike operators to provide contract machine, communication services than video services, the former can be said to be just need, while the latter was not absolutely inseparable from the rigid demand of users. Especially in the network video platform so rich now, there is love in the youku, potatoes, sina video, sohu video, tencent video and so on, a transverse comparison, le networks is no absolute advantage in terms of video content. Not only that, there are a few days ago reported that youku potatoes will and love in the merger. Although love in the gong yu, chairman of the subsequent through weibo denied the rumors, but the relevant person in charge of youku potatoes ambiguous response is intriguing "this is the core company secrets, the company in addition to a handful of high-level, no one can know the news". In fact, the Internet industry had been dismissed as rumours of mergers and acquisitions were eventually become a reality for many times, such as drops a merger with fast, fair and 58. If youku potato merged with love in the really, so happy apparent domestic situation of video website will be even more difficult. 


What's more, if the user wants to get free music depending on the phone, and must be a member of the it signed for five years. Who knows what will happen in the future five years the domestic video industry, who can predict the state administration of radio, and no one can guarantee that the user wants to watch TV programs can have been seen in the video platform. This year, according to relevant personage love in the exclusive copyright of the XiaoSong legendary "next year is likely to be dragon TV purchase to copyright. If true, the hit from the loss of love in the talk show and corresponding the show's fans are likely to lose. 


Homemade variety, home-made drama or bought the copyright of run, run in variety, many users just to watch one program and stay in this video platforms, once the program to move, the user will naturally move the show. After all for users, they see is not you in the video web site itself, but the video content provided by you. Plus is no only faithful to a video platform users, mostly youku potatoes look, sohu, tencent has eyes to see with video content, and the relative viscosity larger communication services than, video website user viscosity would not have been high. Therefore, le regard to bind the user wants to use mobile phones in my opinion, it is would be tantamount to "kidnapping". Yes, I used the disturb of the word "kidnapping", but not exaggerated. Mobile phone manufacturers, Internet companies on how to do? Is to provide more services, or with a single service users was kidnapped? To this question, everyone's heart have a steelyard. 


Similarly, also taking the Internet value-added service line recently popular mobile phone and alibaba YunOS cooperation with Newman introduced the first $one thousand of the fingerprint machine Newman buttons (YunOS day official flagship store to buy cat link: http://detail.tmall.com/item.htm?spm=a1z10.4-b.w5003-10633522195.1.jLJTfb&id=44471379526). According to official introduction, it will provide free TV VIP privilege for the user, shrimp VIP privilege, taobao V5 member privileges, tao WiFi, sina weibo, balance income doubled treasure card, drops a taxi services, covering all aspects of life. Although total value may not be higher than music video services provided by the visual value, but rather than depending on only to provide video content of the single services, YunOS for Newman button services provided by the more clearly. Want to know, alibaba's business line covers the UC browser, Scott maps, however, to taobao days cats, alipay, bargain, music, rookie, ttpod, shrimp, etc., but leverage resources. Now maybe only those users can enjoy the service, but the future is likely to enjoy more services. Ali but YunOS, after all, father, his son will naturally enjoy first-hand the advantage of resources. With music, music is different, and depending on the hope that through the way of software (service) to buy hardware to bind the user, and Newman button is according to the traditional way of selling hardware, at the same time to provide users with additional value-added services - and these services are not hard to you, if you don't like it, you can not completely. Which way you feel more comfortable, believe you should have your own judgment.

info:
According to official figures, pro spot 1 seconds, enjoyed 1 spot sold out 3 minutes 46 seconds. Regardless of how many water, there are how many cattle this powder our for the moment when it's full of real buy. But for how many of them are at the Internet value-added services, the author said doubt it


Title:
Facebook listed three years is how to break out of the IPO disaster?

Content:
Don't know whether we still remember Facebook listed the technical failure of the day, and people on the mobile road. Anyway, no matter from which point of view, three years ago that the IPO can only use the word "disaster to describe. Investors (Facebook, LinkedIn, co-founder of Reid hoffman said, Facebook's IPO "a mess".) The whole year, Facebook could not out of the shadow of the disaster. Its lackluster stock movements, and constantly criticize it slow, failed to catch up with the mobile Internet this trend. 


But today, Facebook has become a beacon on Wall Street. It's current market valuation to $226 billion, p/e ratio as high as 81 times. If you are in the IPO day bought shares of Facebook and hold up to now, so the value of the shares at least doubled. 


In the process, CEO mark zuckerberg and his team have also learned a lot of important lessons. First of all, zuckerberg needs to convince Wall Street his vision, he couldn't a low-level representatives to attend the important meeting investors. Second, Facebook provides the most important thing for Wall Street - profit. Today, the profit margin of the Facebook at an astonishing 40%. 


But most importantly, Facebook will own the lack of the mobile end into a power. Just listed, its mobile end almost no significant income. In 18 months, Facebook came a 180 - degree, let the skeptics obediently shut his mouth. At the end of 2013, Facebook has more than half of its revenues from mobile advertising revenue. The company seems to be finally able to breathe out eyebrow to say: "you want to move? We'll show you earn mobile money!" Wall Street gives Facebook returns, is pushed up the stock market price again and again. 


In the process, Facebook over the IPO was behind the market. But there is still a company still on May 18, 2012, under the IPO of pain, it is the nasdaq. Previously, a batch of Facebook shareholders in the form of class action to nasdaq to court, accusing it of improper operation caused huge losses to them. The electronics stock exchange recently agreed to pay to the plaintiff $26.5 million in damages. 


In addition to a large amount of fine, the nasdaq also lost its place as the king of the "science and technology company IPO. For 19 years, nasdaq has been all technology company of choice for IPO exchange (Google, amazon and apple are listed on the nasdaq). But Facebook technological problems in the opening day, make it public relations image was a major blow. Later, the many well-known technology companies such as Twitter, King Digital Entertainment, GrubHub, Zendesk and Fitbit, are listed on the nyse.

info:
Don't know whether we still remember Facebook listed the technical failure of the day, and people on the mobile road. Anyway, no matter from which point of view, three years ago that the IPO can only use the word "disaster to describe. Investors (Facebook, LinkedIn, co-founder of Reid hoffman said, Facebook's IPO "a mess".) The whole year, Facebook could not out of the shadow of the disaster. Its lackluster stock movements, and constantly criticize it slow, failed to catch up with the mobile Internet this trend


Title:
Internet + + university scientific research incubator equity the raised platform

Content:
Recently, the domestic first grasps "Internet + + incubator" of university's scientific research ideas of the raised platform of collaborative works (www.xtworks.com) officially launched, its production, and the perfect combination of equity and the raise, the complete financial ecosystem. 


Since this year, all the raise equity become after P2P, Internet financial circles the latest hot spots, accompanied by ali and peace, jingdong giant into one after another, raise the stakes in the development of more and more popular. Collaborative works by collaborative innovation research institute in Beijing and guangzhou yue hui nebula-rich complex day jointly founded the equity of the raised platform, was founded in March 2015, is committed to through constructing joint entrepreneurs, investors and the resources of the business industry platform, implement to assist the transition of new technologies and leading science and technology creation team, promote investment professional goals, to build and perfect the "production, study and research, gold" perfect combination of entrepreneurial innovation ecological network. 


It is understood that the collaborative works has angel alliance and business incubator, can provide more perfect business incubation service for entrepreneurs. Angel union will jointly thousands of investors and mentors, for entrepreneurs to provide funds, financial, legal, scientific research and so on all aspects of support and guidance. Collaborative works business incubator, is based on a lot of research, data validation, Internet thinking to build new business incubation ecosystem. The incubator is composed of incubation platform online and offline entities incubators, venture incubation platform for entrepreneurs, entrepreneurial teams and have an outstanding talent for start-ups, full of entrepreneurial guidance and professional startup services; On the other hand will find the best innovation service enterprises long-term cooperation partners, for investors to find the best investment project.

info:
Recently, the domestic first grasps "Internet + + incubator" of university's scientific research ideas of the raised platform of collaborative works (www.xtworks.com) officially launched, its production, and the perfect combination of equity and the raise, the complete financial ecosystem


Title:
Western news application from WeChat for inspiration

Content:
Some famous news application of North America are learnt from the experiences of WeChat recently. Kik, Tango, Snapchat and Facebook Messenger began to become more like WeChat. 


WeChat function is relatively complete, you can use the WeChat purchase ticket, take a taxi, or reading the news, and this function is a western information application had no. 


Now, they are followed by WeChat strategy. Tango last month to add the function of shopping, the user can be viewed on the shopping tag page wal-mart and alibaba global speed sell tong goods. Kik let brands for message interaction with users, users can also play games in the application. Snapchat increased the news column, and Discover in November last year to restore the function of payment. 


Facebook stepped in to action. Facebook developers conference in March, introduced a Messenger platform, this platform allows developers to add Messenger function to the other applications, at the same time, Facebook is still in the test for the function of the users and businesses communicate directly. Information web site also reported that Facebook could also add gaming capabilities to Messenger. 


Send and receive information developers are building seems to be the next big platform. Message application takes up a lot of time, people just WhatsApp send information article 30 billion every day. If people are already using this kind of application information with friends, why not let them use these applications do they want to do other things? Such as games and shopping. 


This shift is quite similar with WeChat, Kik and Tango not afraid to admit that they got inspiration from WeChat. 


Tango zhi-chao zhang, vice President of product (Chi - Chao Chang) said: "I guess that's like WeChat to achieve the size and number of users, WeChat's amazing influence in China. When we mention WeChat, we seldom use it as a competitor, we find it much more for us to guide the direction." 


Kik, chief executive of Ted Livingston (Livingston) in November last year to write an article called "Become a western WeChat competition" (The Race to Become The WeChat of The West) blog article expounds The subject, he used a word to summarize Kik goal: "we want to be The western WeChat." 


Why, then, to imitate WeChat is very important for these companies? 


First of all, WeChat herald a message application development direction in the future. Unlike Kik and Tango, Facebook openly imitation of other products. At present, the Messenger allows users to send the application GIF images and stickers, but Facebook spokesman hinted that will soon have more features. 


A Facebook spokesman told the Re/code website: "we launched Messenger platform, and open to all developers, one reason is that we want to see how you can use this platform to develop the product. Then, we'll consider it feasible plans next." 


Another important factor is whether this strategy really works. It is obvious that people like to use a mobile phone to send information, but they will use the same application to do other things? 


Kik or Tango whether can put the information platform into a successful business platform, we don't know. WeChat held a dominant position in China, but is defeated in North America, maybe this is a reason for that. 


Livingston, chief executive of Kik discovereth the main challenges they faced is how to compete with SMS. "Text message () in the United States is free and useful, is the data package to be bundled with me." Livingston also believe that SMS is the biggest rival Kik, quality and service is much more than Kik. 


In other parts of the world, the message will be charged extra. But in the United States, the text is included in the phone package. If people think of using the message from the start application is meaningless, and then add more functionality to message application becomes unnecessary. 


Before trying to launch more service such as shopping, Kik focus is to help the brand and users communicate with each other. This approach seems to be very popular. Facebook is let users for message interaction with retailers, chief financial officer David weiner (David Wehner) said this week that Facebook's another message application WhatsApp is likely to launch similar services. 


This is the core part of the new strategy. Add shopping button to application seems like a good idea, but want to do this business for a long time, you must have enough to deal with business users. 


Livingston said: "our ultimate goal is to WeChat has done in China. If no one is using your message application, you have nothing."

info:
Some famous news application of North America are learnt from the experiences of WeChat recently. Kik, Tango, Snapchat and Facebook Messenger began to become more like WeChat


Title:
In silicon valley, venture capital is not suitable for women?

Content:
According to foreign media reports, venture capital firms in recent weeks has been in the forefront of moral criticism. Kleiner Perkins Caufield & Byers, the company won the Ellen Pao sex discrimination case in, but the testimony in the trial is made of a woman is not particularly popular with top vc impression. Also often exist in the society women entrepreneurial success must sell hue malicious remarks. 


Though, the most recent statistics are hard to come to the conclusion that vc deliberately avoid women entrepreneurs. But it is clear that women start or business rarely get the support of venture capital. Venture capitalists explanation is that women are not inclined to join the high-tech industry, which is the risk of investment fund is interested in business. And women are not like men chasing risk investment, so they get the probability of the vc will be lower. 


However, risk investment is the best way to do big dreams. If entrepreneurs need more than $1 million to develop a new product or service, or extend existing business of a business plan, risk investment should be an integral part of capital partners. If you can make full use of venture capital, women there is no need to use personal money brought about by the debt risk. Especially for a 40 + women is particularly important, no one was willing to put all of the personal savings in the plan of high risk. 


Since 2009, venture capital firms are increasingly active. According to PWC, risk investment amount has increased 61% in 2014 to $48 billion. Wind investment gold in the media, advertising, entertainment, retail, financial services, e-commerce and Internet services to pour into a lot of money, and these areas may be more suitable for the participation of women. But now it seems these areas get venture entrepreneurs are predominantly male. 


Facebook and Twitter recently two former female employees also filed a discrimination lawsuit, respectively. At the moment, gender or for white males in most control work in the silicon valley of important factor. 


As Ellen Pao said, "I want people to be able to regard everyone as an individual, rather than with a group of take it for granted. But all these paranoid eyes were entrenched difficult to overcome. If we can get rid of them, just according to the judgment of recognize itself and its advantages, the world will be more beautiful."

info:
According to foreign media reports, venture capital firms in recent weeks has been in the forefront of moral criticism. Kleiner Perkins Caufield & Byers, the company won the Ellen Pao sex discrimination case in, but the testimony in the trial is made of a woman is not particularly popular with top vc impression. Also often exist in the society women entrepreneurial success must sell hue malicious remarks


Title:
The nasdaq bubble of new generation of science and technology enterprise

Content:
By tech bubble? To this, we disagree. But what is undeniable is that the industry start-up boom in the number, and the fledgling successively obtain high valuations, and these circumstances really increased the difficulty of investment. Therefore, when investment subvert our innovation, a pair of eye is particularly important. 


In fact, now situation of science and technology investment is completely new technology companies as a cash cow. Established relevant data show that less than four years of public technology companies after nearly nine times the formal valuation (record 40 years), and its corresponding old stock prices have surged. 


In order to further study of this new generation, we have collected a series of listed (not less than $1 billion but not more than 4 years or is still privately owned) young information technology companies. (more than $1 billion valuation of the company accounted for more than 90% of the nasdaq stock market value.) Look first at the nasdaq new generation, a real star of tomorrow in among them, the next apple, amazon and Google's rising is only a matter of time. 


A conservative estimate, the proportion of young company () in the valuation of more than $1 billion enterprise as a third, more than just the level of the late 1990 s. But there is a marked difference, compared with the peak in the fourth quarter of 2000:8% (or 6%), privately owned start-up number soared to 67, or about half of the enterprise under the incubators are privately held. And many investors may not be aware of the important trends, namely technology markets partially opaque. 


The tech bubble, bubble or capital 


Thanks to the generosity of the wind investment this injection (to 2014 year-end annual inflow of 26 billion), these newborn to as eye science and technology, capital is relatively abundant. Accurate, this is one of the largest a 14 years years inflows, the level of more than $1999 in 22 billion (though it is only half the landmark $2000 in 52 billion). At the same time, the stars make full use of such a good financing environment. Roughly speaking, in the past 12 months 82% of private start-up financing, the proportion is 62% from the same period last year. 


At the same time, the financing channel is also gradually perfect, senior vc, diversified ecological system composed of the incubator and angel investors become the solid backing, private equity funds, of course, the source of the party (that is, to those who seek high returns) individual investors are also included. Can say, the financing main attraction is in contact with the rapid development of the next generation of enterprise based on Internet. Although the number of Internet companies on the public stage accounted for only 13% of all technology companies, but they are in the new generation of listed companies, 78% of the share for other types of companies. 


Internet stocks premium reasonable? 


In this era of truly respected revolutionary innovation, we can understand network derivatives. History, Internet has maintained a high premium (in contrast to other department of science and technology), especially those who can in the limited capital on the basis of rapid expansion, with a strong network effect backed) of young enterprises. But we are very concerned about the new generation enterprise valuation, especially in private markets. Because history shows that the long-term benefit of the investment risk is extremely small. 


In our analysis, the general public technology stocks at least experienced eight valuation (already beyond the record of a few years ago when the Internet bubble). However, privately owned start-up company valuations more, average closer to 25 times. Both combined, the number of up to 15 times, it has become a big obstacle to future investment success. 


Want to know, venture capitalists at the direct impact on the public equity markets. The new generation enterprise some may be a star of tomorrow (at the initial public offering a star), some will be now listed technology companies mergers and acquisitions. But if large listed companies still impetuousness, spend money like water, so private markets of the tech bubble is by no means alarmist. What's more, in 2014 only 17% of the new technology company can remain profitable when initial public offerings, also is higher than 14% of the Internet bubble in 2000. But for many people, this is obviously not a good news. 


For innovation and a larger network 


So how can investors in a variety of investment portfolio to real subversive innovation? We think the key is to cast a larger net for innovation, and actively explore the unknown boundary. Today, the technical indicators and IPO channel show that innovation mainly focus on the Internet. But it is not at all. Although it is true that some successful Internet companies are more likely to stand out, but innovation is ubiquitous, development of new material plane Hexcel (giant) composite materials, committed to the development of the driverless cars Mobileye, study the human genome sequence Illumina and delve into electronic devices panasonic is the epitome of the battery. 


And, of course, the comprehensive research methods can be effective. If only from a top-down perspective, to focus too much on young and rapid development of network enterprise, ignoring its such as bubble valuations of the error is inevitable. Bottom-up concept guide, on the contrary, we choose carefully, and limit (or help) to avoid excessive contact innovation system. Whether this is is to identify the company has real change force and the best way to potential returns.

info:
By tech bubble? To this, we disagree. But what is undeniable is that the industry start-up boom in the number, and the fledgling successively obtain high valuations, and these circumstances really increased the difficulty of investment. Therefore, when investment subvert our innovation, a pair of eye is particularly important.


Content:
Part of the company's revenue growth is still hard to resistance losses, homemade contents do not fire in fans a fire 


Because several rounds of industry consolidation and temporary cooling video website "burn money" enthusiasm, recently seems to be renewed. Optimal soil (youku potatoes) and thunderbolt yesterday both first-quarter earnings, calculated according to general accounting principles (GAAP), optimal soil under the condition of the quarterly revenue rose 47%, a net loss of 517.4 million yuan, net loss expanded 194% year-on-year; While the thunderbolt income and net profit fell 8.4% and 8.4% respectively. From earlier than optimal soil and thunderbolt before the release of a quarterly le networks (75.14 + 2.82%, consulting) and tempest technology (264.34-5.59%, consulting) and sohu video, in addition to the copyright is competition, homemade content gradually become to burn money to start. 


Content costs continue to rise 


Content copyright is always an important part of the video website costs. A quarterly data show that optimal soil, the company in the first quarter content costs accounted for 59% of net income for 669 million yuan, increased 13% year-on-year. Sohu a quarterly results also revealed that sohu video on revenue of $50 million in the first quarter, despite the surge of 57% compared to the same, but still losing money. Sohu chairman and CEO Charles in analyst, said at the meeting compared with last year, is expected to cost video content will grow by 50% this year. 


Analysys international, a senior analyst at Mr Ming thinks, "video websites are still stuck in the era of burning money, due to the characteristics of industry, must continuously spending on copyright, no copyright investment difficult to attract users, no user is equal to no income, while seventy percent of income in the current video website or from the AD." 


"Because of the high cost of content, the current industry competition pattern is unsustainable." Zhang said the PGC (professional production partners) contents can be realized through the advertising model; Movie content aspect, pay a subscription model, that is, the user model is also on the rise, the occurrence of these phenomena to a certain extent can help keep the online video industry sustainable development. 


User-generated content are also beginning to burn 


Internet analyst Liang Mingliang also said the previous copyright cost pressure for domestic online video sites are the same, and who can as soon as possible through a higher ratio of net raw content (homemade, PGC, UGC) to replace the expensive copyrighted content, there is no doubt who will be able to cure burn faster the ills. 


But in reality, as the major video sites are more and more rely on user-generated content, homemade content also is entering burn model. It is understood that in 2015 is expected to optimal soil on user-generated content will reach 600 million yuan investment, than doubled in 2014. And love in the this year on homemade play inputs are also more than 50% increase over last year, a rising tide lifts all boats, love in the homemade 2015 unit costs more than the TV series, such as "grave notes" broke through 5 million yuan per set. 


To this, the personage inside course of study points out, by mass burn money for play rob the user has not reality, so the video web site only to upstream industry content in vertical integration, through the cooperation and the content of the original these in the Internet, reduce the cost of video website copyright. 


Optimal soil according to the latest figures, the optimal soil net content is more than 50% of the country's contribution to the entire network traffic. "Youku tudou more than 500 million users, we are looking at different areas of consumer income, from content to subscribe to, from virtual goods to broadcast live, and the future of video e-commerce." Youku tudou chairman and chief executive officer victor koo in analysts said on a conference call, in the second half of 2015, with the original content and PGC become stronger, and content marketing solutions become perfect, advertising revenue will increase accordingly, expected the second half of the content of the cost of the growth rate will be lower than revenue growth. 


Part of the video class one quarterly situation of listed companies (unit: RMB) 


Company sales year-on-year net profit 


Optimal soil 47% 1.14 billion yuan - 517.4 million yuan to expand by 47% 


Thunderbolt 187 million yuan 187 million - 8.4% - 48% 


The storm 092 million yuan - 3.2085 million yuan - 24.24% and 146.72% of science and technology 


Le miniaturization: 107.75% 107.75% of the 2.13 billion yuan 2.13 billion yuan

info:
Part of the company's revenue growth is still hard to resistance losses, homemade contents do not fire in fans a fire


Title:
Housing accumulation fund management rules will revise: purpose or diversity

Content:
The expert thinks, accumulation fund management center should be upgraded to a housing bank 


A few days ago, "about 2015's opinions on deepening the reform of economic system the key work points out" to study and put forward the deepening housing system reform implementation plan, revision of housing accumulation fund management regulations ". 


"The revision or focused on the accumulation fund use diversification, reduce the extraction threshold, and the accumulation fund investment scope, limit indicators refining, etc." Cic advisory, a senior researcher at Zheng Yujie said in an interview with "securities journal" reporter. 


According to the existing regulations on the management of housing accumulation fund regulation, one is for personal housing loan of housing accumulation fund, 2 it is to buy bonds, 3 it is bank deposits. In addition, housing accumulation fund loan and the role of supporting the construction of low-cost housing pilot. 


According to "securities daily" reporter understanding, in 2012, the national capital of balance of housing accumulation fund deposit rates of about 3.56% on average, just slightly higher than the one-year deposit interest rate. Worker personal accounts deposit rates by an average of 2.4%, less than at the same time the CPI, caused the unused housing accumulation fund capture puts worker larger interest losses. As of March 2014, the national housing accumulation fund balance has been as high as 3.2 trillion yuan. 


Zheng Yujie believed that along with the ability of the financial market reform and the accumulation fund management, the future accumulation fund is expected to expand the scope of investment, in addition to government bonds, may invest in bonds repurchase, universal insurance products, funds or stocks, etc. To strengthen the wind control, improve the management and supervision, realize the accumulation fund of the value, to protect the person that capture puts the basic income. 


Million, deputy director of the institute, a think-tank, listed enterprise, research Zhang Huadong said in an interview with "securities journal" reporter, accumulation fund of the adjustment of the scope, in the future under the condition of urban and rural areas as a whole, the use of the accumulation fund may be extended to the country. 


Founder securities and real estate industry researcher Zhao Reqiong thinks, out of respect for governance structure and capital value, for it has an important role in housing finance accumulation fund center, should upgrade as the professional housing bank, at present, should find a way out on assets revitalize and fund use. 


It is worth mentioning that there are many provincial policies, such as allowing accumulation fund beyond the scope of loans, rural migrant workers into the system of housing accumulation fund, etc., has been in the industry as a "ice-breaking" housing accumulation fund management.

info:
A few days ago, "about 2015's opinions on deepening the reform of economic system the key work points out" to study and put forward the deepening housing system reform implementation plan, revision of housing accumulation fund management regulations "


Title:
In the next five years to new nuclear power investment 500 billion

Content:
"Fukushima years of China's nuclear industry development into the winter period, along with 2025 made in China, the development of the nuclear power industry is welcoming spring. Peers to have confidence in nuclear power development!" Nuclear power in China on May 21 international conference, the national development and reform commission of the international cooperation center, director of the institute of international energy Wang Jin said so. 


"Made in China 2025" formally introduced this week, nuclear power will also accelerate the pace of "going out", China's goal is to make the transition from the nuclear powers to nuclear power. The world nuclear association's director Francois Morin also confident about the outlook for the global nuclear power industry development. "In the future, the scale of the global nuclear products and services procurement market will reach $575 billion. Among them, the aging of the reactor units will be demolished in 2030, this part will also bring a $92 billion investment." 


He also warned that China's nuclear power to go out to a domestic industry development advantage, but can't be too eager, nuclear power project construction cost is large, and some policy legal obstacles, "China's nuclear power to go out, need time". 


New nuclear power amount is 500 billion in the next five years 


Wang Jin believe that frequent fog haze, domestic environment has had a huge pressure on energy structure adjustment, in addition, climate change on carbon emission reduction demands also reversed transmission of clean energy transformation. "Nuclear power, will become an important pillar industry of the future of clean energy." 


With similar views, China's nuclear power industry association deputy secretary-general Xu Yuming with data for domestic nuclear power enterprise outlined a blueprint. 


Xu Yuming introduction, in the year to April, the domestic in transport, under construction and plans to build a total of 52 sets of nuclear power unit, which has been put into operation with 23 units, the total installed capacity of 21.4 GW, 27, under construction in total installed capacity of 29 GW, has been approved and two (2). "This year, there will be 4 to 6 units to get approval, there are 4 to 6 in operation. By the end of this year, the total installed capacity of the unit will reach 30 gw, at that time, China has the largest nuclear power will be ranked fourth in the world, the total generating capacity of nuclear power will exceed Japan." 


He said: "according to the nuclear power development plan, by 2020, and 35 gw of new nuclear power installed capacity in China, each year 100 billion new nuclear power investment, including equipment for 50 billion. This means that nuclear power total investment will reach 500 billion in the next five years." 


At the beginning of this week, "made in China 2025" officially printed by the state council, the power equipment become one of the ten strategic industry "going out". Xu Yuming thought that the strategic planning of nuclear power equipment manufacturing, the development of nuclear power industry is a big positive. At present, the domestic nuclear power market, nuclear, CGNPC, national nuclear power in the three central enterprises are the main nuclear power enterprises, and with the "2025" and so on many national support policy implementation and propulsion, private capital will also have the hope to share the dividend of nuclear power development. 

 

But Wang Jin also pointed out that usher in huge opportunities at the same time, the development of nuclear power industry is also facing challenges. In our country by the end of 2014, for example, only 177 years of experience in nuclear power operation, compared with the nuclear powers, such as the French 2000 years of experience, or less. 


In addition, 50% of the world's nuclear power plants for inland nuclear power station, and in the coastal area, the distribution in our country inland nuclear power construction planning all suspended because of Japan's fukushima nuclear accident. From the point of view of commercial operation, AP1000 as the three generations of the advanced technology, the world is still no business shipments experience; Our hualong and CAP1400 1 as our independent research and development of three generations of technical experience in the same lack of business shipments on behalf of the support; And at present due to the environment, adjacent to avoid impact, progress of the construction of the nuclear power units in our country lags behind, at the current capacity and the construction cycle, to achieve the aim of total 2020 still has the certain difficulty. 


The meeting, the media the most emphasis on the development of inland nuclear power. Xu Yuming said, China's nuclear power industry association has on a BBS carried out detailed discussion on the development of inland nuclear power. "I personally think that, with China's current technology to build nuclear power project in inland security is guaranteed, I am very confident. We plant a lot of security measures, even in extreme cases, also won't affect the water." 


Xu Yuming said, when inland nuclear power construction, in fact not a technology problem, but a public understanding, support and resolve problems of government. Like the French, more than half of nuclear power is built in the inland. Now China needs to further nuclear power technology, safety science, eliminate the doubts of the public, to make the government eventually to weigh the risks and benefits and decision-making. 


"We want, for the sake of the industry's development, had better be in thirteen viscera, not later than the latest launched in 2018, construction of inland nuclear power." He said. 


Go out and can't get rich quick 


Enter since may, China's own three generation technology of hualong first demonstration project - 1 fuqing nuclear power unit 5 officially started. This is nuclear power since the resumption of China's first official landing domestic three generation nuclear power unit. 


CGNPC group technical director wen-zhong tang as an industry expert reporter is introduced into the 21st century economy, in the domestic nuclear group has successfully exported a four nuclear power unit, become the first army of nuclear power to go out. At present in the nuclear group is working with 20 countries such as Argentina, Egypt, the British nuclear cooperation talks. Among them, the nuclear now has 3 units under construction in Pakistan, below 5 units. 


Wen-zhong tang, the nucleus and widely not only in charge of hualong 1, also for the second generation unit and improve the study design and engineering contractor. A nuclear power project, the UK is led by method of electricity, nuclear and CGNPC joint participation in the development and construction. 


"Three nuclear power enterprises when going out, will be to coordinate, the national development and reform commission and industry alliance. Without the vicious competition to a project. If after the Argentine project, then the two together to participate in the bidding." Wen-zhong tang said. 


For the future of "going out" strategy planning, wen-zhong tang said CGNPC walked out of the project is not too much at present, the current focus areas in the UK, namibia and Africa. Africa as a fuel base to develop, Europe is the key area of nuclear power plant construction operation. In addition, the country's nuclear power group will also construction four nuclear power plant in Turkey. 


"Nuclear power to go out, not just to promote a single project, but to drive the whole of the nuclear power equipment manufacturing industry to go out and realize capital, technology, equipment, engineering services, operation services to go out together." Wen-zhong tang prospects for nuclear power to go out, "nuclear power to go out, and now there are no technical barriers. Mainly overseas destinations such as law, policy, regulation and financing problem." 


The world nuclear association's director Francois Morin also pointed out that China's nuclear power enterprises should clearly recognize that "before the international reputation and market share, still need a long time". 


He said the first nuclear power project need huge funds, enterprises need a loan or equity financing, "how to solve the problem of financing, is a common challenge in front of all enterprises". In addition, the investment and financing policy of each country is different, the nuclear power enterprises go out before the project, to and around the policy, law, regulation, etc. To get up to speed. 


He said, at present, the UK, the Turkish government has some attractive nuclear power project. But regulators in Britain and some other countries, obtain a license must first be assessed. "China's hualong also rated 1 2 years to determine whether or not to license. Not soon can get it under control." 


"I didn't mean to disappoint you, I just present some objective facts and challenges. Although the Chinese nuclear power operations in the nuclear export and overseas has accumulated rich experience, but different countries have different decision-making procedures, when nuclear power to go out to deal with various challenges. You must follow the local government, environmental groups, have a lot of regulators, etc." 


Morin said, "we need to study hard copy those international nuclear giant 60 years of operating experience, their own technology and operations management best. Market space is very big still, I don't think, don't lose."

info:
"Although China nuclear power operation in nuclear exports and overseas has accumulated rich experience, but different countries have different decision-making procedures, nuclear power when go out to deal with all sorts of challenges. We need to study hard copy those international nuclear giant 60 years of operating experience, their own technology and operations management be the best."


Title:
New energy car production and sales growth is to catch up with the fuel car

Content:
Recently, the ministry of finance, ministry of industry and national tax administration of three ministries jointly issued the supporting policies of new energy vehicles, the energy transport per car, the new energy vehicles will be completely breaks car. Data show that the first four months of this year, China's new energy car production grew nearly three times. The personage inside course of study says, whether it's new energy vehicles or traditional fuel the growth of the automobile consumption will drive the car after the auto parts market demand. 


The three ministries issued: breaks car 


Ministry of finance, ministry of industry and national tax administration of three ministries issued "about saving energy use of new energy transport vehicle tax preferential policy notice (hereinafter referred to as" notice ") made it clear that fuel standard 1.6 litres of the following passenger cars burn gasoline, diesel oil, will enjoy preferential treatment in car in half. And include the vehicle tax shall be exempted within the new energy car category, including: pure electric commercial vehicles, plug-in hybrid vehicles (including increase program), fuel cell of commercial vehicles, and conform to the requirements of pure electric passenger cars and fuel cell passenger car. Since last year, the national various ministries and local governments have issued multiple support policy. It is understood that Beijing, Shanghai, guangzhou, shenzhen and other places have mounted policy to support the development of new energy vehicles. At the same time, all kinds of support policies to attract the guangzhou automobile group, Shanghai automotive industry corporation, and many other carmakers are introducing the new energy vehicles, the sixth IN a new energy automotive industry exhibition, guangzhou international roewe (weibo) brand with its two new energy vehicles - roewe 550 plug-in IN plug-in hybrid cars and roewe E50 pure electric cars. 


statistics 


Car production and marketing: 1 ~ 4 month, car production and sales of 8.28 million and 8.14 million, up 4.12% and 2.77%, down 4.87% and 4.87% than the same period last year. 


New energy vehicle production and marketing: 1 ~ 4 month, new energy automobile production to 34400 vehicles, year-on-year growth of nearly three times. 


Data features: 


1. Although this year compared with the traditional fuel automobile production there is still a large gap, but the new energy vehicles in China production and sales growth is far more than the traditional fuel cars. 


2. The most significant decline in production and marketing of commercial vehicles. Four months before the commercial vehicle production and sales of 1.2172 million and 1.1709 million, 18.505 and 19.13% percentage points year-on-year decline; Passenger car is still maintained growth, four months before the passenger car production and sales increased 9.35% and 7.67%. 


Promulgated by the state council industry development goals: on the basis of energy saving and new energy automobile industry development plan, by 2015 all-electric cars and plug-in hybrid cars accumulative total production volume to 500000 vehicles, production capacity of 2 million cars by 2020, the cumulative volume has more than 5 million vehicles. 


Three problems 


1. The short range. 


New energy vehicle range is short, compared with the traditional fuel cars, new energy vehicles range are generally less 100 km to 200 km. 


2. The battery life is short, and battery charging time is long. 


It is understood that the current domestic battery manufacturers and approximately 400 related battery enterprises materials manufacturers, but the new energy car battery related national standard has not yet come, led to the development of the high cost. 


3. The design is less. 


Consumers can buy in the market to new energy vehicles is very few, many vendors simply introduced some concept car, from the production has a certain gap. According to the reporter, with each big manufacturer every once in a while just released all shapes beautiful than traditional fuel vehicle, new energy vehicles the current lack of attractive appearance, a lot of new energy vehicles is replaced in the original car platform power system, even the appearance of some new energy vehicles do very cartoon, can meet various requirements of consumers. 


Afternoon: vehicle demand increase with flourishing parts 


Whatever the motivation system of vehicles, vehicle market production rose must drive parts market demand increase greatly. The first four months of this year the news of the car production and sales still increase compared to the same stimulus, caught the attention of money recently a-share auto parts plates, yesterday the whole component sector surged 3.39%, tianrun crankshaft (002283), wanfeng Mr Wei (002085), and other 9 stocks harden, another victory electronic (600699), up 9.04%. 


The personage inside course of study says, as the country strongly support the new energy vehicles as well as the domestic each big automobile group internal integration accelerate, domestic car market is expected to rise further, and the existing large car ownership is inevitably drive the auto parts market demand further increase, investors can pay close attention to related sectors.

info:
Recently, the ministry of finance, ministry of industry and national tax administration of three ministries jointly issued the supporting policies of new energy vehicles, the energy transport per car, the new energy vehicles will be completely breaks car. Data show that the first four months of this year, China's new energy car production grew nearly three times. The personage inside course of study says, whether it's new energy vehicles or traditional fuel the growth of the automobile consumption will drive the car after the auto parts market demand


Title:
Internet + cod help express easily complete the O2O closed-loop build

Content:
Someone once said, the invention of the wisdom of this age is intelligent express mail box, thoroughly solved the delivery from the time and space interaction problem of the last 100 meters, at the same time acting as the transmission link between property, the owner, Courier, thus successfully build wisdom city, the harmonious community. WeChat pay general manager Wu Yi once in the surveyed said, no communication, won't produce trade, no pay, no business. So, rather than express yi is a way of interaction, it is a kind of language. 


Recently, the reporter learns from the Courier is easy, later this month, the Courier is easy to chengdu as a pilot, officially launched the "cod" business, at the appointed time, in addition to the traditional coin, the user can via express easy ark on merchandise they subscribe and "penalty fee" for WeChat pay or pay treasure to pay. Earlier, the Courier is easy in attending the 2015 fair can "WeChat wisdom life hall," li wei, director of the development research center, state court to express delivery of exhibition area, guide and encourage the development work, that a Courier yi area, become one of the museum's most popular platform. Visible, express delivery of easy to WeChat, weibo, micro film on the basis of the new situation, such as micro series is a powerful influence. 

Recently, the reporter learns from the Courier is easy, later this month, the Courier is easy to chengdu as a pilot, officially launched the "cod" business, at the appointed time, in addition to the traditional coin, the user can via express easy ark on merchandise they subscribe and "penalty fee" for WeChat pay or pay treasure to pay. Earlier, the Courier is easy in attending the 2015 fair can "WeChat wisdom life hall," li wei, director of the development research center, state court to express delivery of exhibition area, guide and encourage the development work, that a Courier yi area, become one of the museum's most popular platform. Visible, express delivery of easy to WeChat, weibo, micro film on the basis of the new situation, such as micro series is a powerful influence. 


Courier to research and development department, said at the moment, "cod" is in the stage of trial operation, in addition to promoting the business and intensive investment will also be synchronized. Relevant responsible person, as a pilot to chengdu, first one, through the way of signed a contract with offline store, put goods at a reasonable price in express delivery of easy cabinet sale, buyers only in express delivery of screen click subscribe, in the form of WeChat or pay treasure to sweep the code to complete the transaction; Second, with the express or express company signed a contract, the collecting fees "cod", also, the buyers through the code to complete the payment. Also stressed that relevant principals express easily in the whole "a second under a single second pickup" in the process of trading, also ACTS as a "alipay" on a treasure in the middle of the role, buyers once found goods damage or the wrong version, but demanded a refund or exchange, after both sides talks things over consistent, Courier will easily to corresponding processing of payment for goods, or refund, or complete a deal to play money to merchants. 


, express to launch "cod" on the one hand, to further solve the express between the owner and the problems of time, space, such as interactive, on the other hand, in order to express rich existing profit model, and makes the O2O closed-loop platform. It was revealed that the ultimate goal for business will be opened Courier all bin, for all the offline store merchants build an Internet interactive platform.

info:
Someone once said, the invention of the wisdom of this age is intelligent express mail box, thoroughly solved the delivery from the time and space interaction problem of the last 100 meters, at the same time acting as the transmission link between property, the owner, Courier, thus successfully build wisdom city, the harmonious community. WeChat pay general manager Wu Yi once in the surveyed said, no communication, won't produce trade, no pay, no business. So, rather than express yi is a way of interaction, it is a kind of language


Title:
Open the net value of type the bank financing

Content:
Central Treasury securities registration and settlement companies released "national banking financial information registration system" of the Chinese banking market annual report (2014) "(hereinafter referred to as the" report ") to the market shows a picture of a banking financial market panorama. 


You can see from the annual report disclosure of data, all of 2014, the steady development of the continue to bank financing beyond the trust financing, leading the information market. At the same time, under the supervision of continuous power, continue to promote "logo of the non-standard transfer process, and more transparent and conform to finance the balance of the nature of the open net type products increased 267.03% in a year. 


The year end due only 51 now only losses in wealth management products 


According to the annual report disclosure, in 2014, the bank financing scale continues to grow. By the end of 2014, the national wealth management business of banking financial institutions, a total of 525 55012 surviving financial product, balance of 15.02 trillion yuan, is increased at the end of 2013, 4.78 trillion yuan, 46.68%; 2014 annual average daily financial totaled 13.75 trillion yuan, from 2013, 4.16 trillion yuan, 43.38% increase. 


At the same time, by the end of 2014, the bank financing scale is the highest in all kinds of asset management business, total 15.02 trillion yuan bank financial capital ahead of trust companies, total assets of the trust, the insurance fund use balance, the securities company entrusted management of the principal amount and the total assets of the securities investment fund management. And at the end of 2013, in all kinds of asset management business, the trust company the trust assets in the first place. 


At the same time of scale expansion, bank financial products has also created considerable benefits for the bank. In 2014, the China banking financial market to implement the bank profit of about 90.82 billion yuan. Side bank earnings is refers to the financial product from start issuing bank to honour has been realized to the products of the cumulative net income, including field (including the branches) hosting the custody fee charged for the product, the bank (including the branches) to the financial product management fees charged for investment management, the bank charge (including the branches) to sell their products while flat sales commission, the excess of retained earnings, part of the gap between income and so on. 


And from the point of customer return on investment, in 2014, the bank financial markets accumulated to honour the customer income 712.13 billion yuan. The year end financial product due there are 51 products suffered losses, only accounts for 0.03% of all end mature products, the proportion has declined slightly in 2013. Loss of wealth management products of the principal repayment rate is 85.95% on average. 


Investment of non-standard assets proportion fall again 


By the end of 2014, all products of various assets balance investment of 15.77 trillion yuan, involving 11 categories of assets. From the asset allocation, bonds and money market instruments, bank deposits, not of a standardized asset class are major financial product configuration of three types of assets, accounting for 91.22% of the financial product investment balance. 


Among them, as of late, the configuration of non-standard debt asset class financial product balance is about 3.3 trillion yuan, accounting for about 20.91%, from 27.69% at the end of 2013 to fall again. With the matching is that financial product configuration in financial assets proportion of direct financing tool has reached 0.25%, the balance is 39.4 billion yuan. Direct financing tool start pilot at the end of 2013, is a regulatory push "of non-standard transfer standard" of one of the important measures. A single financial direct financing tool must correspond to individual enterprise debt financing, more transparency. 


"Annual report", said in a regulatory actively under the guidance and supervision, financial management standardization of money at the creditor's rights in the asset class monitored in the field of industry and there is also fell, by the end of the balance in the year of 240.66 billion yuan to 212.54 billion yuan, down 28.12 billion yuan, down 11.68%. Specific view, involves the "two high" left industry, commercial real estate (except for affordable housing) and local financing platform of non-standard assets are of a certain decline, down 42.67% compared with the end of 2013, 42.67% and 16.85% respectively. 


According to the statistics, in the annals of from to have 10.71 trillion yuan of financial capital through configuration bonds, non-standard assets, equity asset class to the real economy, accounts for the proportion of various assets balance financial capital investment of 67.92%. 


Open a rapid increase in wealth management products 


Data also showed that look from the operation pattern, although the enclosed products still dominate, but open rapid growth in wealth management products. As of late 2014, the open financial product surviving 3604, balance of 5.24 trillion yuan of funds, the market share of 6.55% and 34.91% respectively. Open financial product balances is increased at the end of 2013, 3.56 trillion yuan, a 210.51% increase, the market share increased by 18.43%. Especially in the second half of 2014 was bigger, at the end of the proportion of open products accounts for the market relatively late June increased by 14.67%. 


In the full open financial product, non net balance of 4.68 trillion yuan of funds, financial products was increased at the end of 2013, 3.15 trillion yuan; Type net balance of 560.75 billion yuan of funds, financial products is increased at the end of 2013, 407.97 billion yuan, increased by 267.03%. "Bank financial products from the expected return type to open type net into the trend of The Times." According to the report. 


In December 2014, the China banking regulatory commission is the commercial bank financing business supervision and management regulations (draft) "for advice, one of the important one is the" expected rate of return should be bank sale is increased by the cost of the product, push the Banks to change the current mainstream financial product form, guide commercial Banks to issue of portfolio management class open type net assets and there is no time limit and products by mismatch of project financing products (a project first, and then, the funds), make the risks and benefits of the product really shaken to investors." 


"Annual report", said the economic downward pressure is bigger, the external environment, such as capital market gradually warming and bank financial capital scale, product lot of mismatch with long-term assets such as industry background, the risks of bank financial products should not be ignored, and the expected return type product form against real financial product risk bearing the main body, is unfavorable to fully reveal the product risk. Therefore, by creating can explain buy, redeemable, profit floating type open and net wealth management products, dynamic management, portfolio investment Banks can use means of flexible configuration of various financial assets, the risk of a single underlying assets dispersed, solves the entity economy needs the contradiction of long-term funds but need the financial funds liquidity, at the same time, through equity volatility, product risk/reward profile can also be timely disclosure to investors, so will completely break the rigid to honour of financial products.

info:
Central Treasury securities registration and settlement companies released "national banking financial information registration system" of the Chinese banking market annual report (2014) "(hereinafter referred to as the" report ") to the market shows a picture of a banking financial market panorama


Title:
Baidu why open source depth of machine learning platform?

Content:
On May 20, baidu open its depth on making machine learning platform. This release depth of machine learning open source platform belongs to the "au" open source organization, its core developers from baidu deep learning institute (IDL), Microsoft Asia research institute, university of Washington, New York university, the Hong Kong university of science and technology, Carnegie meilong university and other famous companies and universities. 


Through the open source platform, developers can get free from all over the world better and easier to use the machine learning algorithm source code, thus significantly reducing development and deployment of distributed machine learning system and related application threshold. Including headlines now and the car home, several companies have benefited by the open platform. 


As the layout of the older players in ai, baidu has the strength of the leading industry. Baidu deep learning institute (IDL) in 2013 to create and Andrew Ng joining in 2014, baidu DMLC distributed depth of machine learning open source projects (hereinafter referred to as "the union") has been done to explore in the field of multiple applications of deep learning, launched such as xgboost (speed Boosting model) with good effect, CXXNET (extreme deep learning c + + library), Minerva, highly efficient and flexible parallel deep learning engine) and the Parameter Server (one hour training data 600 t), and other products, in speech recognition, OCR recognition, face recognition and computing efficiency released more mature products. 


With a series of lead baidu chose to open source the depth of machine learning platform, why clarificaiton will own the core technology? 


Careful comparison, it is helpless in the face of the industry of foresight. 


Embracing the world: the charm of open source 


Open source, just as its name implies, is to open its source code to others access to and use, though it seems silly, but many historical facts tell us embracing the world also can let the world embrace you. 


Counter attack is evidence of Android, iOS occupy the vast majority of the era of intelligent mobile phone operating system, Google's open source, having already no chance in front of the apple industry saw hope, since Android has more than half the market share, so that in the mobile Internet is popular today, Google can rely on the integration of it and its products to build their own powerful ecosystem. Born too, by contrast, the story of Windows mobile's hair awake enough, finally have to sponsor to Microsoft compatible with Android and iOS applications. In addition, as Microsoft's main application framework, on Microsoft. Net, hope it can open source to all platforms, and then repeat the JAVA of glorious history. It also proved that even by strong like Microsoft cannot let their products get the embrace of the world. 


High flame: many materials with platform netting the power of the world 


To realize the artificial intelligence, machine must have the ability to autonomous learning and deep learning as a major breakthrough in the field of machine learning, can be highly abstract characteristics of artificial intelligence task, such as natural language understanding complex scenes, and praised by the industry. Machine learning field, of course, not only have deep learning that the existence of an algorithm, deep learning, however, has obvious advantages: in the case of a data set is large enough, the depth of the study has the best prediction ability. Although still exists on the choice of algorithm "kill the goose that how to use" wheel ", but deep learning algorithm for artificial intelligence into strong ability is beyond compare with other algorithm; At the same time, with the mature of deep learning technology, a lot of traditional machine learning algorithms of elimination is almost a certainty. However, as the foregoing, in the demand of large amounts of data and its deep learning is still the development of the complexity of the biggest obstacles on the road, is also the helplessness of the industry. 


Baidu power earlier in this field, and carried on the thorough research in many directions, using in-depth study combined with its own search engine big data let machine translation and natural language technology to realize a new leap forward. However, when available to a wider and more specific application scenarios, any company is difficult to meet all the requirements. Not only can draw lessons from history, open a win-win of doing things, also let the industry and healthy development of the ecological system. 


Baidu, the open source is completely for a deal in Taiwan. Fully using c + + language to build the core, stable and efficient operation of the platform laid a foundation; Covering the three kinds of the most commonly used machine learning algorithms, including the sparse linear model is used to click, the decision tree model for sorting, and in-depth study, meet the needs of the masses; Key development "wormhole" project will automatically build deep union all projects, provide consistent data flow support for all of the components and provide including Amazon EC2, Microsoft Azure, Google Compute Engine, cloud computing platform compatibility support, reduce the barriers to entry platform. 


The open source into in making further underscored its openness and confidence in the platform. A series of actions is wants to let developers will be able to obtain more deep learning algorithm source code quality and easier to use, to reduce the development and deployment into the threshold of the learning system and the related application, and then use the power of the world grow. 


In the face of the outbreak of the predictable, mature technology gradually developed, to a certain extent, but also because of their respective gene and route technology, facing the great divide. An open mind to embrace the world, to build a international standards in the field of machine learning, baidu's move is not only for recycling in prophase research security, more friends hand in hand to win business, to ensure that their own voice.

info:
A series of lead baidu chose to open source the depth of machine learning platform, why clarificaiton will own the core technology? Careful comparison, it is helpless in the face of the industry of foresight


Content:
AeroMobil flying cars at an airport in the slovak republic testing crash accident, fortunately, the pilot ejected, even though the company claims the accident helps them improve AeroMobil3.0 prototype, however, and the dream of flying cars launched in 2017 is likely to be delayed. 


AeroMobil by Slovakia's engineers Stefan Klein, research and development, Stefan Klein who done for audi, BMW and Volkswagen car design. Aeromobil previously known as the most close to the flying car prototype of implementation may, Aeromobil company from 1990 began to develop flight vehicles, the third generation product Aeromobil3.0 prototype released in 2014, after the company said it plans to officially listed in 2017 Aeromobil 3.0. Two Aeromobil3.0 appearance looks like a car fitted with foldable flying wing and tail, propeller, body length more than 6 meters, body width of 2.24 meters, that is to say, can park in the normal size of parking space, folding wings fully open has 8.32 meters long. Company said AeroMobil isn't a car can fly, but the vehicles that run on the ground plane. Company, according to data released in auto mode and flight mode, the speed can reach 161 km/h and 200 km per hour, can travel 875 km and 700 km respectively, using regular gasoline fuel instead of jet fuel, although the speed is not particularly exaggerated, but once the flight mode, can need not be afraid of traffic jam, this makes a lot of people for its high hopes, drove her car, want to fly fly how exciting the will, however, civil aviation and national governments and the headache. 


AeroMobil3.0 prototype crashed for the chance of flying car market in 2017. AeroMobil company said an accident is an accident, but the company can further analyze the data and was improved, the crash AeroMobil 3.0 prototype, continue to test in the future. 


If the Wright brothers invented aircraft looks and flying cars have similar genes, also have not cannot, flying car is one hundred years of countless science fiction and the dream, in the movie before stop due to technical factors, now more is the safety factor. 


Restrict AeroMobil flying cars on factors including now 


Performance problems, car requires spacious space and heavy chassis, while aircraft require light, as far as possible to adapt to the aerodynamic flying also needs to be streamlined fuselage, blending the two needs isn't easy, but after using special materials AeroMobil vehicle weighs 450 kilograms and is about half of the normal vehicles. And require AeroMobil3.0 take off a few hundred metres of the road, landing also need hard and flat surface, which limits its use. 


2. Expensive, AeroMobil fuselage using carbon fiber composite materials, and because of flight, AeroMobil3.0 equipped with electronic equipment needed for the flight, even equipped with parachutes, engineers Stefan Klein patented Rotax 912 engine can drive propeller and the front wheel, so expensive 


3. The road flying need through the regulatory approval, the United States and Europe for vehicles and aircraft has strict safety management rules, the AeroMobil company will AeroMobil3.0 positioning for sport plane, can countries for this kind of new things can use the scale of the airspace is not settled yet. 


4. The requirement of the driver is higher, need to have a pilot license, this limits the many people. 


Above a number of factors, one of the biggest influence on the flying car production should be regulations for examination and approval of all countries, because of the great responsibility of safety management in different countries of, so for the flying car that new things must be very careful. AeroMobil3.0 this accident, also let people doubt flying cars this kind of "high-tech toys" travel is safe enough? Unmanned aerial vehicle (uav) delivery, shooting video game for a long time, flying cars, there is no heavy lobbying group, and the opponent's big carmakers, want to move the United States and European approval so far is difficult to complete tasks. 


AeroMobil is not without its rival, the United States, Terrafugia company Maverick, PAL - V company in the Netherlands to make their own flying cars, while the companies are hard work in the field of flying cars, however, tesla CEO Elon Musk as a leader of electric cars, do not look good flying cars, in his speech he hinted that the security performance of the flying car. Security is now the biggest concern of flight vehicle prototype, but always in the curves of science and technology, and in the engineer's work together to realize the human seems impossible dream of flying cars real production estimation is only a matter of time, no matter what a flying car manufacturing company finally successful, human travel mode will be redefined.

info:
AeroMobil flying cars at an airport in the slovak republic testing crash accident, fortunately, the pilot ejected, even though the company claims the accident helps them improve AeroMobil3.0 prototype, however, and the dream of flying cars launched in 2017 is likely to be delayed


Content:
Now, China's entrepreneurial market hot anomaly - probably all agree that. In just the past few weeks, for example, for example, baidu CEO robin li said that investors are desperate to Chinese startup money and feel they are stationed outside the building in baidu, tempted baidu staff to start a business. 


Jingdong CEO liu China BBS told attendees at harvard business now how much heat: "you only need an idea, you can get $30 million." 


But China has appeared before the business boom. Does this mean that the investors could get burned? 


Look at the past, the development of bulk thermal history 


In 2010, China's Internet industry with a new trend: the websites. 


Although the company in 2008 in the United States, but China and coupon interest is not only the east again, copy the western: from BBS BBS to produce naturally, where the user will unite of thrift in order to discount shopping together. In view of the mechanism can be applied to a larger scope, so there are a few Chinese entrepreneurs set up daily group. 


They started early, rapidly, by 2011, China's early group has to a huge investment for yourself. Shake handshandle net is one of the early industry leader, launch in March 2010, to April 2011, it has raised more than $170 million in the three rounds of financing. Thousands of companies took a fancy to this huge cash flow, and take the opportunity to want to share a piece of fat meat to eat. As of September 2011, a total of more than 5000 group-buying startup companies in China, although few people make money. 


But nothing is too much, China group purchase industry suffered a high fall heavy twist. Small entrepreneurial firms began to close, like shake handshandle nets, 55 group, 24 stamps and President was forced to a large number of layoffs to offset losses. 


In November, nearly 1500 group-buying startup website shut down. In early 2012, the number soared to more than 2000, to August 12 years, and there are more than 3000 group-buying turned off. Although there are some local winners, but the other players are not forced to blend in other big companies, is toward the end of the collapse. 


Overload of O2O, foam or opportunity? 


Now China's start-up companies in almost all fields of science and technology are experiencing a boom. What is undeniable is that the recent O2O startups as have appeared, and also constantly from the hands of investors access to funds. In the past one month, we have seen the flocking to China startup capital to promote a new round of prosperity, auto repair, door to door massage, tickets, food and beverage service, delivery, and online education, and other fields have a lot of O2O products. 


Of course this is only a part of this month, also is only a small fraction of all O2O entrepreneurial companies. O2O business boom in China's high-tech industry development of brewing over the years, fermentation, thank all the high-profile investment out of the bubble began to emerge, but now it will only attract more capital into the industry. 


"In the last 48 hours, I just threw a" eyebrows dyeing and finalize the design "O2O services and a" let the nurse to go to the hospital with you "O2O service partner of 500 Startups, investment farce told me with a smile. Other investors also said the same thing: O2O army" savage ". 


O2O boom in China, if not more than 2010 to 2011 group-buying tide heat, and also at that time. If O2O reflects in group-buying industry happened, that the industry may soon go to the fall of 2011, then everything turned down, a few months there are thousands of startups fail. 


History will repeat itself? Not necessarily 


Thankfully, investors believe that China's current O2O boom and has led to thousands of entrepreneurs "cliff" group buying boom are quite different. Infinity Ventures Tian Zhongzhang male said, "in group-buying is everybody doing the same thing, the main services are undifferentiated. However, in the current boom O2O, startups is to solve the problems in different areas. There is competition between each domain, but this and everyone do the same thing is very different." 


In other words, when a O2O food distribution company and a O2O education service companies share the same basic business model, even service in the same area, they will not compete directly. To different O2O company for different customers, but the websites tend to provide the same service, restaurant coupons, discount tickets, etc, which makes them in the same market directly compete with similar sites. 


Of course, in the field of the hottest O2O or there is a fierce competition. Such as on-demand services in the field of food delivery competition has been very serious. Major competitors including the regiment and hungry? Are all melt in recent round of large sums of money. Also have like call chickens and guest as smaller startups are under development, and attract investment. 


But even so, O2O areas also far far more than the bulk. 


In addition, some investors see the group-buying and on-demand service fundamental difference about the feasibility of economy in China. Chinaccelerator, head of SOS Ventures partners explained that group-buying "has not let" the necessity of the vast majority of merchants and their cooperation. 


Group cooperation, in order to attract customers, they must provide substantial discounts, many merchants eventually could not bear. In the absence of local partners, group-buying bankruptcy quickly. But, in contrast, O2O service without merchants offer discounts that they just take merchants to users. 


Essentially, William Bao Bean said O2O is traditional entity enterprise for marketing and stylish new word... As a whole is advertising. 


Melvillo also think O2O differs from that of group purchase hot, she pointed out that another important reason: O2O barriers to entry are very low and very easy to implement. "It is basically a market + trading model, none of the business model, which is a kind of easy to understand and practice." She said: "don't involve too many technical problems, the unit economic benefit is more easy to calculate." 


And obviously, it is not only not prime minister li keqiang, puts forward the strategy of "Internet +" resistance, can also help to use the Internet to revive the traditional industry. 


Industry reshuffle, future? 


Therefore, the current O2O explosive growth and wreck a hammering group-buying boom is different, after all, where these companies are so similar. However, consolidation, as well as a large number of startups fail - is still on-demand service industry in China is inevitable. And if you don't have to enter the game, now the incoming again and then it was too late. 


GGV capital managing partner who said, although there are still many O2O companies seek GGV capital investment, but some of the major (O2O) in the field of pattern has been a regular basic. For example, he noted that the online takeout areas almost no new startups can it compete with hungry. 


Although in the long run, O2O industry across the areas of consolidation is inevitable, who said that he did not consider O2O industries will be the winner of the lot. O2O every major category - like delivery, education, etc. - will have a team champion in the future, this is decided by the idea of best. In a niche category winners may be absorb the other winners. 


However, although the group-buying industry in a few years he saw clear winners, tung said, he thought at the battle of O2O may take longer. O2O need, according to what he said, is "more execution", this is because in many suppliers and place between the difficulty of standardized services. This means that the final winner takes much longer to emerge. 


And, despite the race for O2O major categories of their other battle may be left out of a large number of losers, but the end result should be good for everyone. TongShiHao argues that successful O2O platform will contribute to local economic development, improve the economic efficiency, and ultimately promote the development of service-oriented businesses of more capable. This is another story, their main effect is convenient for consumers. 


So, while China's on-demand service market is heating up, but don't be afraid. Many start-up O2O company will fail, but compared to have happened in the group purchase industry of the great depression, the O2O boom "recession" won't come so suddenly and violently.

info:
Now, China's entrepreneurial market hot anomaly - probably all agree that.


Content:
Recently in stemming the information of science and technology, two not too visible news about the "art" is somewhat cold reception, they are all related to Google: 1, five museum and art gallery announced to join Google in mainland China culture institute, which is dedicated to the global digital library collection of rare art treasures, this is the first time to use the online work also in China the "billion pixel" (Gigapixel) technology, you can online as connoisseurs of Chinese landscape painting in each place quiet corner; 2, also in the near future, Google and a large number of art celebrities cooperation to a new project - intelligent following (finally, even following from smart), its space theme can make following pattern shows during the day, overlooking the earth from outer space at night change as charming night sky stars, Google said, hope it can offer inspiration for the artists, the company in the future there will be more similar projects. 


Watching the news, especially the second article, I do not know what do you think, although some far-fetched, personally, I immediately thought of uncle Kevin kelly in the science and technology to want what's maxim: "with the development of science and technology, on the whole, the beauty of it will increase year by year, in the not too distant future, luxuriant degree of some parts of the technical elements will be comparable to the grandeur of the nature." KK, of course, the logical starting point is from "the universe, entropy, self-organization, life" the macro so "god perspective" to judge the evolution direction of technology, he regards the aesthetic as a technical element is one of the direction of evolution. 


To abandon the fantasy theory, in reality you can feel that, in a sense, the development of science and technology today, is gradually blend with "art". Great leader good jobs concluded: "if you take the computer designers as an artist, they would be more willing to take as can be mass-produced art form, like music, or as printed matter, instead of the traditional art. We hope that through their own media to express their own ideas, but our media is science and technology and manufacturing." 


Ok, let's talk about science and technology and art. 


Critical design 


In fact, talking about the fusion of science and technology and art, personally, I tend to focus on those who locate in life, on the products and services into the aesthetic feeling of things (although I also admit that some derived form of art with the help of science and technology effect cool). And as you know, in nowadays science and technology and humanities looks a little crowded on the intersection of design is a bridge grafting both. 


As early as in 2006, President bush announced the "American competitiveness plan", put forward to develop with STEM quality talents, science, technology, engineering and mathematics, sounds a little boring. And in the near future, the upgrade is STEM, turned into STEAM, join A representative of the Arts, art, in the eyes of many researchers, the new system emphasizes students combine technology and art to the ability of solving practical problems. 


And the other is a similar phenomenon, entrepreneurial teams in the United States, the designer as a co-founder of proportion seems increasingly, more cannot ignore, seem to any importance to design a technology company in ascension, at least on the surface of said. Just recently, Facebook product design director Julie Zhuo also published in the next decade to the prediction of the design field in silicon valley, such as: "the designer should create is an end-to-end experience, rather than the interface, only exists in the products and services within the screen is no longer the norm, but a few cases"; "Many startup founder will itself as the designer, similarly, more than one hundred people scale technology companies don't may not have the top design"; "People use mostly because of its style and technology experience, rather than purely functional"; "University provides the design of the training program will be a multidisciplinary cross, graduated from these projects designer should not only be the basic image design, but also master the knowledge of hardware and software". "Design thinking is the product thinking"... 


In fact, from product development logic will be able to understand why it becomes important to design. In an excess capacity, serious homogeneity and pure Moore's law gradually cannot meet the internal demand of era, people are try very hard to tell a story, and let the product or service, one of the "feelings" landing weight is design of the good and not abrupt. 


Be worth what carry is, in the prophecy of Julie Zhuo, one of which is: ten years, the designer will use a completely different set of tools, has a large number of applications, to design and build process become more efficient. 


To some extent, for most ordinary users, seems to be the advanced level of science and technology is inversely proportional to the master the relevant professional knowledge, just like the sea silver capital founder Mr Wang Yuquan puts it: "science has reached a tipping point, as the Internet, I began to surf the Internet in 93, and then make up a web page to write their own HTML language, to learn programming, then the programming tool, and word is the same software, what you see is what you get in the software, you arranged into released web page is what. Later, this all don't need to, have a blog, you will only need to write, then appear weibo WeChat... can you see in the field of hardware and original web site the same path, a growing number of technical difficulties fall too low, more and more barriers in the creative, in the design, the user needs to grasp." 


Well, to be sure, the most valuable in the future are those that have a nice young science and art taste, or familiar with the law of science and technology literature youth - and, of course, this is nonsense, because in any era, such people are scarce resources. In fact, in the end, the so-called fusion of technology and art, nature or by Internet, people often talk about that a few words: crossover and mix build, through. Human history, after all, the innovation model of the strongest operability, maximum range is not is to put the two things together, which was not related to such as very frankly said: a cook tomatoes with eggs, originally separated ingredients, was born, I just eat home cooking A poet will plant linked with emotion, I was born like a poem, "just think of regret in life, the plum flower fell down". A genius to its artistic talent and learned the art knowledge and communication tools, gave birth to the iPhone. 


Beauty: one of the evolutionary direction of the technology 


In 1984, Steven levy published the first book about hackers: hackers: computer revolution hero, he will be the Hacker's values are grouped into six "Hacker ethics" (Hacker they), one of which is - you can use a computer to create beauty and art. 


In more close to the nature of sense, in the traditional concept of technology and art may not be completely the opposite role (in the past quite a long time, the technology has been called "useful arts"). For a long time, science and technology, or science, and scholars have always talked excitedly about the relationship between art, all sorts of metaphor also emerge in endlessly, can be described as: with technology extends the body, the soul of art deco. Break up but the science and art at the foot of the hill, and on the top of the mountain." This is flaubert said, I think say good. Due to human instinct dichotomy, or lack of knowledge, science and art are two different things in common sense, but personally, I tend to think that in a sense, the "art" covers in the scope of science, but it is too complicated to understand, at least for now in terms of science. 


And extreme as Kevin kelly thought, technical elements include not only scientific and technological inventions, also have to calculate the human culture and art, the social system as well as a variety of thought and theory, if making web pages of thousands of lines of code can be called a "technology", thousands of elegant lines can also be so Shakespeare, "sonnet and Bach fugue and Google search engine and iPod belong to category: is the brain that is useful." 


As you know, in his eyes, is called the technium is seventh life on earth. Technology elements and its human "parents", and all life forms, in essence is from disorderly to orderly self-organization process of the technology continuous improvement in the evolution of internal driving force and internal driving force of life completely equivalent - if people can answer what is the driving force of life within. "Technology is not invented by human mind and intelligence, a more accurate expression is that the human mind and wisdom to help its further development, because there is a behind the scenes of the force to promote the evolution of technology, human is just a tool of the technical development evolution." 


So the hole is big uncle brain continue to argue that since science and technology is the extension of life, it is the same as life, follow the "entropy" outside forces promoting the evolution of the inherent direction, such as: more complex, more diversified, more promote symbiosis, raise awareness, etc., which is another direction, improve aesthetic -- well, it sounds very exaggerated, in a sense, now science and technology company in the pursuit of elegant design, maybe it is technical element in this evolution direction of shallow levels of performance. 


"Most of the aesthetic evolution of things, the most beautiful thing is the highest level of evolution, from globular diatom to jellyfish to jaguar, show we called deep characteristics of aesthetic feeling." KK wrote, "our worship of technology driven by technology element inner beauty, the beauty is used to be masked, at that time, it is still in its early development stage, is not very pleasing. Compared with the natural mother, industrialization impressive is dirty, ugly and stupid... don't want only utility color science and technology, it wants to be art, beautiful and 'useless'. Today some of the most commonly used technology in the future will become a beautiful worthless things. Maybe 100 years later people carry 'phone', just because they like to carry things, even though they may be through with an object and the network connection." Hence, under this logic deduction, "the beauty of the technology will increase year by year, in the not too distant future, luxuriant degree of some parts of the technical elements will be comparable to the grandeur of the nature." 


Well, beautiful or not is important, but in my opinion, the priority, is to ensure that no aesthetic feeling, such as qr code dogskin plasters general ugly technology to die as soon as possible.

info:
In an excess capacity, serious homogeneity and pure Moore's law gradually cannot meet the internal demand of era, people are try very hard to tell a story, and let the product or service, one of the "feelings" landing weight is design of the good and not abrupt.


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