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First, breaststroke formula

1, one of the breaststroke formula (total formula):

(1) Breaststroke kicks like frogs, pushing back and sliding forward. Close your legs and feet with your hips, and your knees are shoulder-width apart.
　　Slowly retract your legs while retracting, and turn your toes to both sides. Push the water back hard and float your feet together for a while.
(2) The breaststroke arm strokes symmetrically, and the peach stroke strokes sideways. Bend your wrists with both hands to catch the water, and bend your arms and elbows back.
　　Row under your shoulders, stop quickly, and clamp your elbows in hard. Stretch your hands forward in parallel, straighten and relax and move forward.
(3) Attention should be paid to breaststroke coordination, and the legs and arms should breathe properly. The two-arm paddling legs are relaxed, and the legs are closed at the same time.
　　Stretch your legs forward and push the water, and slide your arms and legs straight for a while. Pull your head up slowly, slide your hand and exhale slowly.
(4) Two arms are paddling at the same time, and the head is raised and inhaled closely. Close your legs, turn your ankles to catch water, and exhale water with your nose.
　　Close your hands and slowly retract your legs, and stretch your arms forward before kicking. This kind of cooperation should be kept in mind, and coordination should be learned.

2. The second formula of breaststroke (four-word key):

Break up and press the wrist, pull the fiber with double anchors, hold the water with high elbows, and turn your hands and shoulders. The stem neck comes out of the water, the snake waist drags the hip, the knees are lowered, and the feet are everted. Into the water, hide your head, gather your arms and hide your shoulders, turn your inner ankle backwards, and turn down the pedal clip. The front is low and the back is high, the sand slides and stretches, the legs are stretched and the abdomen is closed, and the water rises.

Interpretation of the four-word key of breaststroke;

Breaking up and pressing the wrist is the preparatory action to start paddling, and it is also the key to make paddling effective. You have to press your hands down into a dovetail shape before you can enter the drawing stage.

Different from the traditional wiper stroke, [double anchor drawing] tends to be similar to the butterfly stroke, emphasizing the stroke mode of resistance propulsion. When the hands are pressed down into a Y- shape, the hands are like two anchors stuck in the water, and they are pulling at an accelerated speed until the elbows are completely out of sight. The power of pulling makes the body jump out of the water under the guidance of the head.

When holding water with high elbows, the elbows should always be higher than the hands to pull water, so that the hands and forearms form a paddling surface together, and the body is pulled forward until the elbows are always in a state of tension.

[Stem neck water] is to say that water should not be held high, and the neck ridge should be kept in a straight line, rising and falling together.

[snake waist dragging hip] means that when pulling up, the waist and back must be arched, and then they can rush forward and rebound. The back bow should be erected like a cobra, ready to attack; The forward bounce is like a snake’s attack, and it is asserted. The former uses the waist, and the latter abdomen, falling together.

[Fold your knees]. When folding your legs, you just need to fold your knees and turn your legs into a [W] shape.

[Hip valgus] means that toes should point to both sides. Turn your feet from [the outer figure of eight] to [the inner figure of eight] and whip them backward and downward.

[Hidden head in water] means to hide your head after entering the water, and to be completely immersed in the water, preferably below the horizontal line of your body.

[Close your arms and hide your shoulders], keep your arms as close as possible, as if to squeeze your head from between your arms.

[medial malleolus backward], the medial malleolus should be facing the rear, which is the initial phase of kicking and the key to the success or failure of the kicking process.

[Pedal clamp downward rotation], the folding is upward rotation and the pedal clamp is downward rotation; Spin up until the toes point to both sides, and spin down until the soles of the feet are closed.

[The front is low and the back is high, and the sand slides and stretches] is a sliding phase when entering the water, until [breaking up and pressing the wrist], during which the feeling is as smooth as falling down from the sand mountain with head down; In the meantime, it seems that all the discs between cones have been released.

[Stretch your legs and abdomen, float to the surface], which means that in the second half of the slide, you should prepare for the initial position of the subsequent stroke [break up and press your wrist] and approach the surface of the water with inertia. If the body is still far from the water, [drawing fiber] will have to be replaced by pressing water, and the forward power will be halved. Therefore, when [sliding sand stretching], the body can neither bend back nor relax, but must [stretch the legs and abdomen] and still be streamlined, using the buoyancy of the chest to float to the surface at a small angle.

3. The third formula of breaststroke (detailed formula):

(1) Introduction of breaststroke

The legs are curved to hold water, and the mouth and nose are used to exhale in the water.

Paddling combined with slow leg retraction, two arms stretched forward and then pedaled,

The breaststroke posture is like a frog, and the arms stroke symmetrically on the side.

Slowly retract your legs while retracting, and turn your feet outwards to aim at the water.

Push your legs back and hold the water, and slide your arms and legs straight for a while.

Push the water backwards in an arc, straighten and float together for a while.

(2) Leg movements

Bend your knees slowly close to your hips, and the distance between your knees is shoulder-wide.

The rower’s legs don’t move, and the legs are closed after the hand is closed.

Slowly retract your legs while retracting, and flip your feet to both sides.

Stretch your arms first, then kick, and straighten your arms and legs for a while.

Push the water back hard and float your legs together for a while.

(3) arm movements

Press the water with both hands to the outside, raise your elbow and bend your arm and row back.

The parting is slightly wider than the shoulder, and the elbow is turned inward and stretched forward.

Pull under the shoulder and stop. Pull and stop.

Draw your arms back from side to side, straighten and float together for a while.

(4) Breathing action

When holding water on your arms, raise your head slightly and suck the air.

Lower your head and stretch your arms and exhale slowly. Row your arms, raise your head, and breathe in.

When your arms slide forward, your nose and mouth slowly exhale.

(5) Coordination of breathing with leg and arm movements

Pull your arms apart, raise your head and inhale closely,

This method is called late breathing, which is perfect for reducing resistance.

(6) Complete coordination action

Two arms paddling without moving legs, closing hands and closing legs at the same time,

Stretch your hand halfway to pinch the water, stretch your arm and kick for a while,

Pull your head up and suck in half, and reach out and shout slowly.

Second, the freestyle formula

1. One of the freestyle formulas (general formula):

(1) freestyle body must be horizontal, with arms crossed forward. Put your fingers into the water before your shoulders, and stretch your shoulders and bend your wrists to catch the water.
　　Bend your elbows and palms to the water, and do the "S" route correctly. Finish paddling to the hip, turn your shoulders and lift your elbows to get out of the water quickly.
(2) The body is prone and streamlined, and the water appears in the brain. Stroke with both hands, and alternately hit your legs six times.
　　Exhale slowly under the shoulder, push the water, lift the elbow and turn to suck. The legs and arms are breathing well, and the freestyle speed is incredible.

2. The second formula of freestyle (four-word key):

Wipe the head on the water, the neck ridge is flat, the chin converges, and breathe. The whole body should be rigid, the waist and abdomen should be tense, the logs should roll, and the umbilicus should look at both sides. Put your arm into the sleeve, turn your shoulder into the frame, draw straight close to your body, pull soft and push hard. The thigh is clamped, the calf is like a spring, and the ankle is relaxed, with relaxation and tension.

Interpretation of four key words of freestyle;

[Wipe your head on the water]. When swimming in, try to immerse your head in the water as much as possible, and the part exposed on the water should not exceed 1/4 of your head, so that your head can slightly brush the water.

[The neck and spine are horizontal]. The cervical spine and spine should be pulled into a straight line and kept horizontal.

[chin convergence], look at the bottom of the pool, the chin should be retracted and squeezed into a double chin.

[Breathe Moang], when breathing, the head should roll with the extension line of the neck ridge as the axis, and it is forbidden to breathe with the head held high.

[Perfect], imagine the whole body, especially the trunk, like a hard and full torpedo.

[Tension in the waist and abdomen], the waist and abdomen should be tightened, and the abdomen should be lifted.

[Log Rolling] means that the body should be like a torpedo and a log, and it should roll on the long axis as a whole with rhythm.

[Look at both sides of the navel], the rolling angle is just right for the navel to see both sides, or the audience on both sides can just see the swimmer’s navel.

[Put your arm into the sleeve]. When you enter the water, you should put your hand forward as far as possible, as if it were in a slender and soft silk sleeve.

[Turn your shoulders into the frame]. Imagine that your body is going through a narrow frame in the front, so the lateral amplitude of the action should be as small as possible.

[Close-body straight stroke], the stroke hand should be under the long axis of the body, close to the body and walk in a straight line.

[Pull soft and push hard], start accurately, grasp the water steadily, and gradually accelerate the stroke, pushing the water under your feet, but don’t bump into your thighs.

[Legs clamped], when kicking, the thighs can’t be separated, and it plays the role of connecting the preceding with the following, that is, transmitting the strength of the hip to the toe.

[The calf is like a spring], the calf should be elastic, and the range of kicking up and down should be controlled at about one foot.

[Relax your ankles]. Your ankles should follow the pressure of water and move with the trend, just like the tail of a fish, so don’t be stiff. Legs from hip to toe should be loose and unremitting, tight and not stiff, and the water should be strong and well-controlled.

3. The third formula of freestyle (detailed formula):

(1) Introduction of crawl (freestyle)

Crawl, such as crawling in water, alternately paddling with both arms,

Keep your body steady and lie prone in the water, crossing your arms and rowing in turn.

Keep your body level, and your legs are whipped up and down.

Whip your legs up and down, breathe slowly and suck quickly and row forward.

(2) Leg movements

The thigh forces the calf, and the legs alternately whip the water.

The thigh is forced to bring the calf, and the legs alternate to fetch water.

Draw water shallowly and quickly, and relax your ankles slightly and turn inward.
(3) arm movements

The palm enters the water first before the shoulder, and the arm slides down to hold the water.

Move the arm, relax the shoulder and insert it forward, and aim the palm of the forearm at the water.

The power of bending the arm and paddling is great, and turning the shoulder and lifting the elbow can get out of the water quickly.

Speed up along the center line, and alternate strokes with both arms.

The two arms cooperate with each other to paddle hard, and the thrust is gradually increased after holding forward.

(4) Breathing action

Row to the shoulder and exhale slowly, push the water, lift the elbow and suck up.

Breathe out slowly with your head in the water, turn your head and open your mouth to inhale quickly.

(5) Coordination of breathing with leg and arm movements.

Paddle with both hands, and hit the legs at will.

Hit two, hit four or hit six, or suck left or right once.

(6) Body position

The body is prone and streamlined, and the chest is slightly shoulders high.

The water is flush with the forehead and the brain is exposed, and the hips and abdomen should be flat and eyes open.

(7) Stroke arm type

There are three types of arm strokes, namely, front crossing, middle crossing and rear crossing.

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Third, backstroke formula

1. One of the backstroke formulas (general formula):

(1) Put your hand into the water on the shoulder extension line, and stretch your arms to hold the water. The palm bends to the water, and the stroke route should be kept in mind.
　　Push the water behind the palm and forearm, and push the thumb out first. Turn your shoulders and lift your arm straps, and relax your arm movement in the air.
(2) Backstroke coordination is easy, with six kicks and two arms. Breathe two strokes at a time, and breathe in with your mouth.
　　Push the water and exhale quickly, turn your shoulders and move your arms to hold your chest. Suck your legs three times, kick them three times and exhale.

2. The second formula of backstroke (four-word key):
The water overflows the cheeks, the nose refers to the blue sky, the breath sinks and floats, and the side slip does not turn.
Shoulder-lifting and hand-pulling, double-spoke rotation, sharp blade to cut water, arm extension to send hips.
With water in the palm of your hand, bend your elbow and collapse your shoulders, push the front line, caress your legs and stick to the edge.
Straighten your ankles, bend your feet inward, kick up and press down, and wave your toes.

Interpretation of the four-word backstroke;

[Water overflows your cheeks]. When swimming backstroke, you should straighten your head, neither accept your chin nor lean back, so it is advisable to let the water flow through your cheeks.

[Nose refers to the sky], although the body rolls, the head should not rotate with it, and always face upwards.

[Breathe, sink, suck and float], because the front of the body will be a little ups and downs after the hand enters the water, so breathing should be carried out rhythmically to avoid choking.

[Don’t turn when sideslip], when rolling sideslip, the head can’t rotate left and right.

[Lift the shoulder and draw the hand], after the hand strokes, it is necessary to lift the shoulder to complete the water; From shoulder-elbow-wrist-finger, out of the water in turn, use the big joint to drive the small joint, and pull the arm out of the water.

[Double spoke rotation], the arms are like spokes of a wheel, alternating at an angle of 180 degrees. The outer side of the little finger is called the [blade], and [cutting the water with a sharp blade] means that the little finger leads into the water, so that the upper arm is close to the cheek, and the arm is extended with the hip. Follow up when the little finger enters the water.

[reaching out to send hips], that is, something that seems to stand on tiptoe to reach high enough; And the [torque] of turning the hip comes from the downward leg press on the other side.

[Horizontal palm with water] is the first phase after the hand enters the water, that is, the palm is horizontal in the forward direction; Otherwise, if you don’t bring water with you, paddling will have no effect.

[Elbow down and shoulder collapse], start paddling, especially when paddling to the shoulder line, the elbow tip should be vertical to the bottom of the pool, and the shoulder should sink into the water, so that the paddling route is closer to the vertical plane of the longitudinal axis of the body.

[Push the first line], push the water all the way back. When the rower crosses the shoulder line, turn his palm to the bottom of the pool to press the water.

[Touching the leg and sticking the edge], after pressing the water, the arm should be close to the body, and the tiger’s mouth should slightly wipe the thigh.

[Ankle Straightened], both supine and prone kicking require ankle straightening, which is the key to effective water fetching.

[Feet are flexed inward], because the hips should roll about 45 degrees, in order to prevent the feet from crossing too wide when fetching water, each other can meet the water flow driven by kicking on the other side, so as to obtain greater propulsion power, so it is necessary to bend inward slightly.

[Kick up and press down], because the upper kick is limited by the knee joint, the lower press has a wide degree of freedom, so it is necessary to limit the amplitude. It is better for the waves to roll at the toe, and it is subject to no splash, that is, [Wave rolls the toe].

3. The third formula of backstroke (detailed formula):

(1) Introduction of backstroke

There are two kinds of backstroke postures, both of which are backstroke.

Lying on your back in the water naturally, your abdomen is slightly contracted and your chest is slightly expanded.

The reverse frog backstroke has been eliminated, and the reverse crawl backstroke has the upper hand.

Kick the water with your legs up and down, and paddle with your arms in turn.

(2) Leg movements

The thigh is forced to take the hip as the axis, and the downward pressure and upward kick are alternately played.

Exert your strength with your thighs and kick hard with your calves.

Knees and toes don’t get out of the water, and the movements should be consistent and natural.

The toes are inclined inward, and the whips alternate.

(3) arm movements

The shoulder extension line is cut in by the outside hand, and the arm is extended to hold the water and the palm is facing the water.

Water enters the side of the air moving arm. Bend your arms and sink your elbows at the water,

The curved arm paddles to the waist, and the forearm palm pushes and presses.

Accelerate backward and push the water quickly, and take turns paddling with both arms.

Pull and push the body to row sideways, press first and then lift the water quickly,

Lift the shoulder to drive the upper forearm, move forward in the air and extend the arm forward.

(4) Breathing action

It’s easier to breathe in backstroke. Breathe in through your mouth instead of your nose.

Push underwater and exhale quickly, lift your shoulders and move your arms to hold your chest,

Take a breath after kicking three times, and exhale after kicking three times.

(5) Coordination of breathing with leg and arm movements

Six kicks, two arms, one breath and two strokes,

Three kicks, one arm, and so on.

Four, butterfly stroke formula

1, one of the butterfly formula (total formula):

(1) Butterfly kicks like a dolphin, whipping water with his belt and legs. Draw water with your legs together and remember your hips.
　　Turn your ankles inside your legs to relax, close your legs, lift your hips and straighten your waist and abdomen.
(2) The butterfly moves its arm like a butterfly, lowering its head and sending its shoulder arm forward. Reach into the water, spread your shoulders and grab the water, with your high elbow paddling and your arm bending inward.
　　Aim your hands at the water at the same time, and push the water hard with both arms. Lift your elbows quickly after pushing the water, and spread your wings with your arms out of the water.
(3) Push the water head with both arms to lift, and inhale quickly and lower the head. Push the water and hit your legs at the same time, and put your feet together to exert your strength.
　　Go into the water and whip your legs twice. Don’t forget to rotate your feet internally. Breathe out slowly with your arms in the water, and move forward like waves.

2. The second formula of butterfly stroke (four-word key):

Chest and armpit pressure, elbow tips apart, abdomen and buttocks, iron law of entering water. Side pressure stroke, internal sweep force, tiger’s back rising, back swing arm. Shrug your shoulders and swing your wrists, move your wings leisurely, take and put down gently, and your elbows are high and low. Legs rise and fall, originating from the back of the waist, snake-shaped, and the first item is the flag.

Interpretation of the key words of butterfly stroke;

[Chest and armpit pressure] is the first step to start the body wave state in butterfly stroke, and its amplitude depends on the flexibility of the shoulder blade. If the chest and armpits are not pressed down, it is difficult to get up with elbows, and it is impossible to hold water with high elbows.

The purpose of [elbow tip separation] is to ensure that the water is cut under the thumb, the water is held with the elbow high, and the side pressure is connected. When the front half of the body is pressed down, it will inevitably lead to the core part lifting up, showing the trend of [abdomen and buttocks], which is a counterweight to the kicking of the back half. This is the law of chain transmission of the body, so it is called [iron law of entering the water].

[Side pressure stroke] is the initial phase of stroke, which is the same as [breaking up and pressing the wrist] in breaststroke.

[Internal scanning force] is the later stage of pulling water phase, and it is also the stage of starting to exert force. In the process of pulling water, with the surge of water flow and the balance of legs, the body leaps up and forward, and the water comes out with the shoulder as the highest point of rising, that is, [the tiger’s back rises].

In order to push the water phase, the [swing arm] must accelerate the whole process, in which [swing arm] refers to the sudden return when the momentum reaches the maximum, that is, the arm returns at the original speed before pushing the water to the crotch; This not only pushes the water into place, but also allows the arm to bounce out of the water by pushing.

When moving your arms, you should [shrug your shoulders and swing your wrists, and move your wings leisurely], and throw your arms forward as far as possible, as far as possible from the water entry point, so as to fully drive your body. [Shrugging your shoulders, swinging your wrists and moving your wings leisurely] starts with [swinging your arms back], and the depth of your kung fu can be seen from the whole process of [moving your arms]. The butterfly stroke is the only stroke named after the feature of [moving the arm], so four sentences are used in the formula to describe the whole process of moving the arm: [shrug your shoulders and swing your wrists, move your wings leisurely, take and put down gently, and your elbow is superior and low], among which [taking and putting down gently] is particularly difficult, and [taking] and [putting] can reflect the control ability of your waist and abdomen when leaping.

[Legs rise and fall from the waist], the main power source of butterfly swimming is the chest, followed by the waist, and then the legs. Therefore, when playing butterfly leg, you need to forget the leg, so that the vibration of the chest can be naturally transmitted to the toe. When the chest is pressed down, the forehead is forward and the top of the head is close to the water; When the shoulders are lifted, the forehead is still forward and the hips are close to the water.

[Snake-shaped wave, the first item is the flag], which means that the butterfly looks like a dolphin and a snake eel from side to side. From beginning to end, all joints of the trunk and legs participate in the jitter. Bow your head when you come out of the water, lift it slightly when you enter the water, and always rush to the other side with your head, guiding the whole body forward like a flagship, that is, [the first item is the flag].

3. The third formula of butterfly stroke (detailed formula):

(1) Introduction of butterfly stroke

Butterfly swimming is like flying in butterfly water, whipping the water with your legs together,

Lie on your stomach horizontally to streamline, lower your head and move your arms forward.

Both arms are paddling at the same time, imitating dolphins flying in waves.

Waves draw water, push hands to suck, stretch your chest, lift your hips and waist to exert strength.

(2) Trunk and leg movements

Hips sink to straighten the waist and abdomen, legs move up and legs bend,
Retract your legs, lift your hips and waist, and your thighs drive your calves to kick.

(3) arm movements

Bow your head and send your shoulders forward, stretch your shoulders and hook your hands to catch the water.

The arms are wider than the shoulders when entering the water, and the shoulders should be extended when entering the water.

Bend your arms inward and paddle hard, push the water and lift your elbows to get out of the water quickly.

Do not separate your arms from each other when holding water, and row with the front wide and the back wide to accelerate the row.

(4) Breathing action

Breathe slowly with your arms in the water, push the water, stretch your neck and look up.

(5) Breathing is coordinated with leg and arm movements.

The butterfly position is not fixed, and the trunk waves move forward.

Kick your arm into the water for the first time, and then kick it under your chest.

The legs are combined like whipping, and the waist, abdomen and legs vibrate in turn.

Lower your head and stretch your arms to exhale slowly, accelerate the push of water and raise your head to suck.

Five, four common swimming methods of four-word tips summary

1. Breaststroke: break up and press the wrist, pull the fiber with double anchors, hold the water with high elbows, and turn your hands and shoulders. The stem neck comes out of the water, the snake waist drags the hip, the knees are lowered, and the feet are everted. Into the water, hide your head, gather your arms and hide your shoulders, turn your inner ankle backwards, and turn down the pedal clip. The front is low and the back is high, the sand slides and stretches, the legs are stretched and the abdomen is closed, and the water rises.

2, crawl: the head rubs the water, the neck ridge is flat and long, the chin converges, and the air is ventilated. The whole body should be rigid, the waist and abdomen should be tense, the logs should roll, and the umbilicus should look at both sides. Put your arm into the sleeve, turn your shoulder into the frame, draw straight close to your body, pull soft and push hard. The thigh is clamped, the calf is like a spring, and the ankle is relaxed, with relaxation and tension.

3, backstroke: the water overflows the cheeks, the nose refers to the blue sky, the breath sinks and floats, and the side slips. Shoulder-lifting and hand-pulling, double-spoke rotation, sharp blade to cut water, arm extension to send hips. With water in the palm of your hand, bend your elbow and collapse your shoulders, push the front line, caress your legs and stick to the edge. Straighten your ankles, bend your feet inward, kick up and press down, and wave your toes.

4, butterfly stroke: chest and armpit pressure, elbow tips apart, abdomen and hips, into the water iron law. Side pressure stroke, internal sweep force, tiger’s back rising, back swing arm. Shrug your shoulders and swing your wrists, move your wings leisurely, take and put down gently, and your elbows are high and low. Legs rise and fall, originating from the back of the waist, snake-shaped, and the first item is the flag.

In August, international beauty companies ushered in the 2023 mid-year season. L ‘Oré al Group topped the list with a revenue of over 20.5 billion euros, Shiseido emphasized the importance of China market in its financial report, Kao Group sought new opportunities in the high-end skin care products market in China … Although its performance generally rose, compared with three years ago, each beauty group had different growth rates and faced different difficulties.

The four major beauty Japanese companies collectively "bet", and the China market has become a strong growth driver

On August 8th, Shiseido Group announced its performance report for the first half of 2023 as of June 30th. During the period, the group’s net sales were 494.189 billion yen (about 24.9 billion yuan), a slight increase of 0.2% compared with the same period of last year, and its operating profit increased by 19.7% to 13.632 billion yen (about 680 million yuan). Beijing News Shell Finance reporter noted that the China market is becoming a strong growth driver of Shiseido Group.

When combing Shiseido’s performance in recent years, the reporter found that the China market had surpassed Japan to become the largest market of the group in 2022, but it declined slightly in the first quarter of this year. In the first half of 2023, China market once again became the market with the largest contribution to Shiseido’s revenue. During the period, the net sales in China market increased by 12.8% year-on-year to 130.6 billion yen (about RMB 6.54 billion), accounting for 26.4% of the Group’s total revenue, and the Japanese market accounted for 25.3%, ranking second. In terms of core operating profit, the China market ranked first with a score of 7.5 billion yen (about 380 million yuan), while the Japanese market was 4 billion yen (about 200 million yuan).

During the reporting period, with the help of "618" promotion activities, the group’s e-commerce channels increased by more than 20%. Among them, Shiseido’s namesake brand performed remarkably, and the sales of Clé de Peau Beauté in China market increased by more than 40%.

In addition to Shiseido, Japanese beauty companies that take China as their primary market also have POLA Orbis, the parent company of Pola. In the first six months of this year, the group’s net sales were 85.836 billion yen (about 4.29 billion yuan), up 9% year-on-year; Operating income increased by 82.3% year-on-year to 8.966 billion yen (about 450 million yuan). According to the financial report, during the period, the net sales of Polaroid’s beauty business reached 83.529 billion yen (about RMB 4.18 billion), a year-on-year increase of 9.3%; Operating income was 8.713 billion yen (about 440 million yuan), up 66.1% year-on-year. The growth of this business is mainly driven by the main brands Polaroid and ORBIS.

It is reported that Polaroid’s net sales in the first half of this year reached 49.763 billion yen (about 2.5 billion yuan), a year-on-year increase of 10.4%. Among them, the brand’s revenue in China market increased by nearly 20%. According to the group, at present, Polaroid has taken China as its main market, and is constantly striving to expand its customer contact points.

It is noteworthy that Kose and KAO also recently announced their first-half results, and both have the momentum of "long-term betting on the China market".

During the financial reporting period, Kose Group’s net sales increased by 10.5% year-on-year to 144.2 billion yen (about RMB 7.22 billion), and its operating profit increased by 44.5% year-on-year to 10.4 billion yen (about RMB 520 million). Beijing News Shell Finance reporter noted that although the Asian market is the only overseas market where the group’s revenue has declined, the China market still becomes the largest market of Kose e-commerce channel with 14% revenue.

Kose Group expects that the China market will lead the Group’s performance growth in 2023 with a revenue increase of 10%. In addition, it is planned to strengthen the promotion of Cosme Decorte)AQ series in China, and to open new offline department stores and flagship stores to strengthen the high-end products of Cosme Decorte.

At the same time, Kao Group is also seeking opportunities in the high-end beauty market in China.

In the first half of this year, the net sales of Kao Group was 738.5 billion yen (about RMB 36.992 billion), up 0.6% year-on-year; Operating profit was 2.5 billion yen (about 126 million yuan), down 51.7% year-on-year.

The financial report shows that Kao has six major businesses. Among them, the net sales of cosmetics business decreased by 0.2% compared with the same period of last year to 115.8 billion yen (about 5.819 billion yuan); The operating profit loss was 2.5 billion yen (about 126 million yuan). According to the financial report, during the period, the sales of this business in Japan increased by 2.5% to 75.5 billion yen (about RMB 3.793 billion), while the sales in Asia decreased by 10% to 26.8 billion yen (about RMB 1.337 billion).

Kao Group said, "Although China’s market revenue is lower than that of the same period last year, it is still in the recovery stage, but two brands, Freeplus and Curel, have achieved strong growth performance. The former was completely sold out after the rebranding, while the latter increased its revenue by 30% during the’ 618′ period. "

In addition, the group’s senior executive director, Yosuke Maezawa, and its executive director, Yutai Murakami, recently publicly stated that Kao Group’s advantages in the China market are Fulifang Si and Kerun, and for these two brands, the group chose to build a factory in China. "We will focus on the younger generation of consumers in China and grasp the local market changes in product manufacturing." SENSAI, a high-end skin care brand under Kao Group, is expected to open a physical flagship store in Shanghai this year and enter the high-end beauty market in China.

China has become L ‘Oré al’s second largest market in the world, and Estee Lauder called "China as the growth driver".

Compared with Japanese companies, the semi-annual reports of European and American beauty companies came earlier. In July this year, L ‘Oré al Group took the lead in releasing the results for the first six months. During the period, the group achieved a total revenue of 20.57 billion euros (about 161.99 billion yuan), a year-on-year increase of 13.3%. Regionally, during the period, the Group achieved growth in all regions. Among them, the China market recovered strongly in the second quarter, with a net sales growth rate of 7% in the first half of the year. The North Asia market with China as its regional headquarters grew by 3.9% in the first half of the year. It is not difficult to see that China, as the second largest market of L ‘Oré al in the world, is very important for its development.

In the analyst conference call after the announcement of the financial report, Nicolas Hieronimus, CEO of L ‘Oré al Group, listed China as one of the "five major growth contributors". He mentioned that the sales generated by China consumers at home and abroad accounted for about 23% of the Group’s sales, with an increase of 10%, which was ahead of the market average.

L ‘Oré al’s "old rival" Estee Lauder also recently announced the fourth quarter and full-year results of fiscal year 2023. In the whole fiscal year ending June 30, the group’s net sales reached 15.91 billion US dollars (about 115.9 billion yuan); The net profit was $1.01 billion (about RMB 7.4 billion). Among them, the net sales in the Asia-Pacific region increased by 4%, with an increase of 36% in the fourth quarter. At the performance briefing, the group highlighted that most markets, led by Chinese mainland and Hongkong, have achieved double-digit growth.

The group also said that Chinese mainland’s e-commerce business achieved excellent performance every month in the fourth quarter, achieving organic growth of over 30%, and its market share in high-end beauty products increased by 2 percentage points. Estee Lauder believes that in the future, Chinese mainland and tourism retail business will remain the main driving force for the company’s long-term profit growth.

The performance of luxury beauty brands has suffered from "Waterloo", which is caused by purchasing?

With the increasing number of tourists around the world, beauty groups have focused on tourism retail business. However, Beiersdorf Group seems to have encountered "trouble" in this business.

In the first half of this year, the net sales of Beiersdorf Group increased by 12.3% year-on-year to 4.936 billion euros (about 38.6 billion yuan). Specifically, during the reporting period, the sales of the group’s consumer goods business unit increased organically by 14.9%, and all skin care products achieved double-digit growth, among which the sales of the core brand Nivea increased organically by 18.4% year-on-year.

It is worth noting that the beauty brand Leponi, which belongs to the luxury goods business of Beiersdorf, suffered a performance "Waterloo". During the reporting period, the brand’s net sales decreased by 9.9% year-on-year to 294 million euros (about 2.3 billion yuan). Beiersdorf said that the main reason for the decline in performance was that Daigou had caused great damage to the Asia-Pacific tourism retail market.

In fact, many beauty and luxury goods groups mentioned the keyword "purchasing" in their financial reports. Some enterprises have an immediate impact of slowing performance after cracking down on purchasing, and at the same time, they are willing to give up short-term interests to protect the long-term value of the brand.

For example, L ‘Oré al Group said in a conference call after the release of the semi-annual report in 2023 that the slowdown related to purchasing in major markets in South Korea and China and Hainan put pressure on L ‘Oré al Group’s tourism retail performance in the first half of the year. Ye Hongmu expressed his measures and determination to maintain the China market. He said, "Our first task is to ensure the rights and interests of our brand and the China market. Protecting brand equity is a major reason for L ‘Oré al’s increasing market share in China. "

The Beijing News Shell Finance reporter learned that L ‘Oré al Group has been reducing the price difference between other retail stores in China and those in Hainan by increasing the price of duty-free shops in Hainan, so as to avoid excessive discounts or unreasonable prices in the tourism retail business. Based on this concept, the group has set up a working department named CCCT to ensure that the price and promotion level of tourism retail will not damage its daily profit in China market.

In addition, at the beginning of 2023, the top executives of luxury goods giant LVMH showed their determination to resist beauty purchasing at the analyst conference call after the 2022 financial report. Bernard Arnault, CEO of the group, for example, said that in the past three years, the duty-free shops in South Korea were empty, but the duty-free business recorded high income. The reason behind this is that the products are directly transported from the warehouse to the professional purchasing hands, and then sold at a discounted price.

Jean-Jacques Guiony, the group’s chief financial officer, made it clear at the meeting that in order to protect brand assets, Luwei Mingxuan Group has made up its mind to eliminate all parallel channels of tourism retail around the world. The annual profit of the perfume and cosmetics department of the group also fell by 3% due to the termination of this channel business.

In this regard, Zhou Ting, president of VIP Research Institute, believes that beauty purchasing is the hardest hit area for fake beauty products, which not only affects the brand image, but also causes huge losses to brand sales and profits. Combating fake products is the general trend and the inevitable choice for all brands and enterprises.

Zhou Ting said that purchasing this kind of behavior disrupts the market order and affects the price policy for brands, so that brands can’t directly face and serve customers; For consumers, giving fake goods an opportunity, the rights and interests cannot be guaranteed, and the final damage is themselves. She believes that purchasing must be resolutely resisted.

Beijing News Shell Finance reporter Yu Menger

Editor Jake

Proofread Lin Zhao

Photo by Beijing News Shell Financial Reporter Yu Menger

With the continuous development of economy, people’s demand for green and healthy food is increasing, and the output of dairy products is increasing. Statistics show that from January to November 2021, the output of dairy products in China reached 27.506 million tons, a year-on-year increase of 9.3%.

At present, China’s dairy industry started late, started at a low level, and developed rapidly. In recent years, the state has successively issued a number of policies to encourage the development and innovation of the dairy industry. A series of industrial policies such as the Action Plan for Improving the Quality and Safety of Dairy Products have provided a good production and operation environment for the development of the dairy industry.

In dairy factories, forklifts are often used to carry boxed milk or other raw materials. There will be workers coming and going in the workshop, as well as other vehicles working. So how can we better improve the handling safety and management efficiency, and improve the happiness index of employees?

Based on over 30 years of chip-level R&D experience and over 6,000 international leading patented technologies, VIA has launched VIA Mobile360 AI forklift safety kit in recent years, and cooperated with various factories. In early 2021, there have been successful cases in dairy industry. Aiming at the pain point of forklift truck handling in the factory area, focusing on "worker safety", the handling safety of dairy factory area and the efficiency of intelligent fleet management are significantly improved.

This customer is one of the leading enterprises in the dairy industry, with a complete range of dairy products, and many of its products have long been in the leading position in the market, and have achieved the industrial layout in developed dairy regions such as Asia, Europe, America and Oceania.

Pain points of traditional dairy factory handling

1. There are many goods in the warehouse, the space is relatively narrow, and there are many blind spots, so it is necessary to improve driving safety.

2. There are workers walking back and forth in the handling area, so it is necessary to improve the safety of warehouse staff.

3. It is necessary to monitor the fatigue driving condition and improve the safety management of forklifts.

4. For security inspection and spot check, it is necessary to improve the supervision, accident tracing and management effectiveness.

Reasons for selection and landing results

Focus on AI technology to improve forklift safety and management effectiveness, and use VIA pedestrian detection and warning system and DMS driver monitoring technology to improve driver safety and warehouse worker safety. It is convenient for fleet managers to monitor, secure and analyze forklift driving data, and help forklift fleet successfully carry out intelligent transformation and upgrading. At present, customers have placed orders in batches, and the feedback is good. It is expected that there will be more in-depth cooperation in the future.

Experience of adding AI forklift safety kit

The customer added VIA AI forklift safety kit, and after using it for 3 months, he said, "We were initially optimistic about VIA’s deep accumulation in the field of science and technology, VIA’s powerful edge AI and multi-sensor fusion technology. In the process of practical application, we found that AI forklift safety kit can get twice the result with half the effort when it is applied to the safe driving and management of forklifts. When artificial intelligence is put into practice in fleet management, the benefits of transformation and upgrading are amazing. Forklift equipped with AI forklift safety system has become safer, more efficient and more convenient in handling, and now it has become our "comrade-in-arms" and "good helper"! "

Wei Mobile360 AI forklift safety kit is based on advanced AI edge algorithm, which seamlessly connects AI pedestrian detection and warning, driver behavior management and cloud management, and can provide efficient and safe handling and fleet management solutions for dairy factories. The kit has a complete out-of-the-box solution, which is suitable for all kinds of mainstream internal combustion forklifts and electric forklifts, and can be flexibly customized according to the user’s needs. In the future, VIA will gradually add functions such as speed and reversing detection sensors, which will help the forklift handling transformation and upgrading in dairy industry and even more industries!

About VIA Group

VIA Technologies, founded in 1987, is an advanced technology enterprise group which integrates artificial intelligence, Internet of Things and computer vision, based on its rich experience in chip-level R&D. With more than 6,000 core patented technologies in the world, it has long been focusing on innovative intelligent solutions for transportation, industry, smart cities and data center applications, and is a world-renowned leading technology enterprise.

After the meeting, Turkish President played table tennis, and the table "showdown" was exposed.

According to the Harbin News Agency, on the 12th local time, Kazakh President Tokayev met with visiting Turkish President Erdogan in Astana, the capital. After the formal talks, the two presidents played table tennis.

On 12th, the Kazakhstan News Agency announced the picture of the "confrontation" between the two presidents on the ball table. After the "match", the two men laughed and shook hands. This is not the first time Tokayev and Erdogan have interacted on the table. They also played table tennis together after their meeting in Ankara in May. Kazakh media said that Tokayev loves table tennis very much.

According to the Information Bureau of the Presidential Office of Kazakhstan, on 12th, after the bilateral meeting between Kazakhstan and Turkey and the fourth meeting of the high-level strategic committee, Tokayev and Erdogan held a joint press conference at the Presidential Office.

Kayev said that Erdogan’s visit coincided with the 30th anniversary of the establishment of diplomatic relations between the two countries. The two sides signed a series of important documents at the fourth meeting of the High-level Strategic Committee, and planned to increase the bilateral trade volume to 10 billion US dollars.

Source: Overseas Network

Python digital image processing

—edited by Zhang Yunchu—

+ +++

This book is guided by thoroughly explaining concepts, attaching importance to methods, highlighting applications, and being easy to teach and learn. It describes technical terms related to digital image processing from semantic and mathematical perspectives, analyzes the mechanism of classical algorithms, and gives an example program.

Python was founded in the early 1990s by Guido van Rossum, a Dutchman. Because it is concise, easy to read and extensible, and has a rich ecosystem of scientific computing libraries, Python has become an important programming language relied on by hot technologies such as artificial intelligence, machine learning, neural networks, deep learning, Internet of Things, robotics, etc. OpenCV is one of the best open source computer vision library at present, providing more than 2,500 optimization algorithms, including the latest computer vision algorithm, supporting machine learning and deep learning. It is licensed by BSD and can be used for academic and commercial purposes free of charge. OpenCV is written in optimized C/C++ and provides Python wrapper for API functions, which can be used in Python programs. This book is based on Python language, using Python extension packages such as NumPy, SciPy, OpenCV-Python, Scikitimage, Pillow, Matplotlib, etc., and writes a large number of sample programs, and gives a detailed explanation of some called functions.

Readers can input and run the sample programs of each chapter under the Python interactive interpreter, or open the executable notepad file of the sample program Jupyter Notebook attached to this book, and run the sample code section by section, or they can use various Python IDEs (such as Pycharm) to create, save and run Python files. This book pays equal attention to theory and practice, and each chapter is equipped with exercises and computer exercises.

"

Executive summary

This book systematically introduces the basic theory, classical algorithm and Python implementation of digital image processing. The book is divided into 10 chapters, including image data representation and basic operation, gray scale transformation, spatial filtering, frequency domain filtering, color image processing, image geometric transformation, image restoration, morphological image processing, edge detection, image segmentation, etc. Each chapter is equipped with exercises and computer exercises, and a JupyterNotebook executable notepad file is provided with PowerPoint courseware and sample programs of each chapter.

"

Reader’s target

This book can be used as a textbook for digital image processing courses of artificial intelligence, electronic information engineering, communication engineering, computer science and technology, photoelectric information science and engineering, information engineering, automation, remote sensing science and technology, etc. in colleges and universities, and can also be used as a reference for relevant professional researchers and engineers.

"

Introduction to the author

Zhang

transport

clear/a surname

+ +++

Table of Contents

Try reading

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Please scan the QR code below for more trial reading content ↓

Book subscription information

Title: Python Digital Image Processing

ISBN：978-7-112-26448-3

ISBN: 37985

Pricing: 49 yuan

Listing time: May 2022

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Collection of Architectural Design Materials: Let’s read books on architecture, planning and gardens ~

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September 9, 2021 (Thursday) from 19:00 to 20:30, byJingbao Digital Audiovisual Investment AllianceSocially audio-visual China · Creating the first phase of ""Orientation to the road to the Yuan Universe, who is the number one player?"For topics,InviteBritish Angel Fund PartnerWang Wei,Join the founder of science and technology, the universe sponsor Liu Hua Yang, founder of IFGames StudioQian QingquanConduct online sharing discussions.

Tell!

1. In the past ten years, we have not reached the experience of the number one player.

2. The most important stage at this stage is the construction of the underground infrastructure with very high deterministic undercale.

3, "No. 5 players" in the Yuan Coso, may not be a company, it should be a decentralized organization.

4, the future Yuan universe may not be human beings, but the artificial AI makes it.

The following is the idea of ??this program guest point:

Beijing New Fund Song Gang: Why is the Yuan Universe Ignore when I was now, not at other times? Is this an accidental event or a chapter? Is there a deeper reason and logic behind?

Yino Angel Fund Wang Wei:I think it is in line with the scientific law of things, it requires software and hardware technology to continuously improve and innovate. The era of mobile Internet is the most important thing to use the application, interactive, processing capabilities, and support of bandwidth. Yuan Universe has now reached a stage that can produce basic consensus. It is more like an early Internet, although there is a basic engineering, but if you really want to form a very quality experience and delivery, let you really go to life in the original state, there is a long way to go, I think this cycle At least 10 years.

Same science and technology Liu Hua Yang:I think it is even more than inevitably. The Yuan Universe is definitely a foam than the opportunity in the short term, but the chance of technically driven people and information behind the Yuancai, the opportunity between people and people’s new output value is huge. . We all use technologies to restructuring information, then use new forms, new terminals to provide experience, in the last 10 years, we can’t reach the number one player who is imagined, maybe It also takes a longer time. So 10 years I definitely define it: it is not a real Web3.0, or a transitional Web 2.5 era.

Web2.5 era information "virtual real symbiosis", AR glasses, VR helmets, mobile phones and other terminals, the real world is crucial with the Internet’s interconnection entrance of the digital world, everyone sees that the global AR World Map Company has been acquired in recent years, It has also received the invitation several times.

Web3.0, the information "virtual realism", there will be wearable equipment of the whole sensory, go to the centralized content and AIGC productive force, the sea quotation is seamlessly interconnected, the universe is built and the earth real world 1: 1 The virtual solid-symbiotic map of the cosmic universe economy, everyone can build, create, experience, transaction, social, and grow.

The Web4.0 era is a true metocular era, we may pass the brain interface and the AI ??and system interconnection, enter the uneven virtual real society, most of the production and service work includes creation, all completed by Ai, curiosity Imagination creates everything.

Ifgames studio Qian Qingquan:When we used the PC to conduct network behaviors and activities, we can’t deceive your own brain. Now there is virtual reality, as well as VR / MR / AR and other technologies, it is possible to directly communicate directly with the brain aspect. In the world of VR, such as some traditional hosts, computers, and in the movie hospital watch, we need to tell yourself for a long time, in order to feel the same, understand it. Directors and producers will also make the role in the film and the game as the link between the audience, and can drive the story in this kind of congrssion. In the post-virtual reality, we are likely to encounter, no longer able to spend the role of movies and games, but may have too much a lot, you need to keep remind yourself that this is not a real world. . But I think this is still an ideal state, which is also the ultimate form of all art creators.

We are now in the early stage, I think at least three basic conditions can be made.

First, it is necessary to pass or borrow some kind of technology to exchange exchange with the real world, such a world can be called a realistic thing. We have reached a part in the mobile Internet era. For example, when you visit Taobao, it is no longer like 20 years ago, it is a virtual thing. When you look at a product or buy something, there will be a feeling of shopping malls, and it also produces an exchange channel with reality.

Second, go to centering, not an environment that is centralized by local users. For example, some games we often play, even if its virtual world is already very delicate, but when you turn off your computer, this world does not exist. Because it is a thing that only has your computer; but the WeChat’s friend circle will have this feeling, it will continue to run after you turn it, it is not centered on you.

The third point is that the virtual display technology is played, allowing it to exceed the interaction of the class computer information.

Beijing New Fund Song Gang: What kind of world is in your heart? What are the significant features?

Yino Angel Fund Wang Wei:This concept of Yuanhe is mainly an investor and entrepreneur, industry practitioners, and a concept that can reach consensus in order to improve communication efficiency. For example, sharing the economy is the concept created. Because now in investment, every definition is very complicated, each industry is very huge, there are very many modules, so you will take a consensus concept in order to improve communication efficiency.

What is the future of Yuan Coso? It is still not possible to predict what the Yuan Universe will eventually be, we can imagine and predict it is just the things in the film and television work or the science fiction, more things are hard to imagine.

From the perspective of investors, you must first pay attention to its dimensions such as its entire data, technical maturity curves. I think there is a very large number of underlying technologies in the Yuancos, but it is generally in the early days of the technical maturity curve, which means that the probability of failure to do applications is very large. For example, if you want to be a consumer electronics, its basic technology has not yet been developed, and the supply chain factory has no equipment to produce, you have to do this product to sell, the result must be bad. So the most important thing in the stage is the construction of those with very high definitely underground infrastructure. For example, the 5G network being doing now, and the underlying equipment of VR / AR, there is still a lot of innovation opportunities in these respects. This is also the focus of our current investment.

Same science and technology Liu Hua Yang:The Yuan Universe speaks from the narrow sense is a book in a spiritual immersion scenario or a full experience, a movie, a game, or even a virtual role, can be a metacular universe, can expand a lot of things. But the generalized metacles, in fact, all we are able to feel in the physical world and the virtual world, including species, AI, NPC, etc. in it, the definition of all things together and the economy circulated above it , The information of the information and the value of the precipitation, that is, a technique of adding information, or even a new state of civilization.

In addition, you have not discussed the two levels, logic layers and value layers.

The core of the logic layer is actually centralized and decentralized whether can coexist within a long time? For example, we have launched the universe with a basic setting: the first is to go to the centralized economic and organizational governance; the second is multi-center core technical product service team, because you are hard to use to go to the centering way Output of the hard core; the third is a fully open interface protocol, we hope to break the big factory experience island, such as the experience field I set up in the Forbidden City, let the virtual character and NPC interact with live people, causing new plots .

The value layer involves whether the person can enter the virtual world, we can make the entire ideology completely internetize. I think the problem that may be solved in the future is not to go to the center of the people, but when we want to go to the center, it will be killed by Ai, because it has far more than our ability. Will it go to the world? Another point is that the basis of the economy is a scarcity. It requires costs in physical world production, such as making a mobile phone. Its chip has cost, and the cost marginal decline is very slow. But in the virtual world, this logic is completely different. When we design a good thing, its copy cost is equal to 0, in the virtual world, the scarcity of the physical world is not established, this is what I think is needed It is necessary to take into account a certain stage and size.

Ifgames studio Qian Qingquan:I have been discussing a question in the first two days. Is this world essence spread or passed? For example, I gave me my apple, I didn’t have this apple. This is a pass; whether spreading this scarce? For example, in the game, if the equipment is not a scarce, we share the top equipment to everyone, although this game itself is very fun, but it has no value, its structure is infinitely flat, what is it ultimately?

For the future prediction of Yuancai, in the perspective of creation, the tool I think that creation has continuously iterated, allowing the creator to re-create the authority. For example, 10 years ago, a few small teams, even if your technology is fine, it is very unrealistic. But now it is true that it is very pleasant. In the future, I think the creative will be more decentralized, and a person can make very good content. However, this will also cause the content of the product to become more and more fast, and the content will become more shallow.

Beijing New Fund Song Gang: In the event of Yuancos, the future number one player or head company is most likely in which scene is born?

Same science and technology Liu Hua Yang:Ideally, I think it may not be a company, it should be a decentralized organization. I am more important to "what is going to spend?", In the physical world, our most important problem is to solve production, and now the production capacity of the virtual world is much lower than our needs, but it may suddenly have a long demand for a certain day. After this mutation, more consumption’s main body is cultural, how to better consume higher level of cultural information, I think it can last long, it is definitely not a flower.

Ifgames studio Qian Qingquan:I think the engine development, the Internet of Things, artificial intelligence also has the possibility of giants in these aspects of network communication technologies. There will also be a lot of excellent creative companies in interaction technology, which will also produce a lot of giants. However, I am more worried that China is at the technical level. At present, there is no ability to compete with other countries in the engine. We are also behind the artificial intelligence. .

Beijing New Fund Song Gang: What are the investment opportunities in the development of Yuancai? Is it a state in which a winner is eaten or a hundred flowers? What directions we are more concerned or opportunities?

Same science and technology Liu Hua Yang:I hope it is a state of flowering, because it is even more interesting, but I think it is necessary to consider a problem. We haven’t realized that AI may bring potential energy or even threats that Ai may bring in this regard. The so-called real winner is a super node, it is possible not to make human beings, but it is made of artificial AI. This may be a thing we need to be cautious, although it may be very far away.

With regard to investment, I think the underlying hardware infrastructure, terminal layer, and component subdivision in the terminal are opportunities. But it is difficult to say a small company that is Ar / VR glasses. It can be acquired or it can grow into a giant. I think this opportunity is very embarrassing. Some new coding methods, cloud computing, and digital engine infrastructure, rendering ends, and applications in various industries, as well as components in various industries, and components in various industries.

Ifgames studio Qian Qingquan:As an entrepreneur, if I do investment, I may pay more attention to the early situation. How long does this person don’t have to do this, and I will pay attention to it in a certain field. Is he really have a very deep understanding? opinion. Whether it is in a certain industry, because we have changed in the market, it is no longer chasing people, which has been compete with the country in the world’s first position, and we have to do innovation. I think that investment VR content and artificial intelligence is a particularly good point in time. I know the comrades who survived in the last cycle. They all have got a relatively high valuation, and they have got financing.