标签： 上海贵族宝贝

The first domestic CAR

Economic Observer Network reporter Qu Yixian After a long period of downturn, China’s innovative medicine industry has received a shot in the arm. On March 1st, 2022, CAR-T therapy of legendary creatures was officially approved by the US Food and Drug Administration (FDA) for the treatment of patients with relapsed/refractory multiple myeloma (r/r MM). This is the first domestic CAR-T cell therapy approved by FDA.

The approved CAR-T therapy is called Cilta-cel, which targets BCMA and is the second CAR-T therapy targeting BCMA in the American market. On the topic of domestic innovative drug "going out to sea", it is a sample-as early as 2017, it signed a global exclusive license and cooperation agreement with Johnson＆Johnson to jointly develop and commercialize this product.

Huang Ying, CEO and CFO of Legendary Bio, revealed that the price of Cedarchiorense in the United States is $465,000. This pricing strategy is because the pricing range of several CAR-T products that have been listed in the American market is $400,000-$470,000, and the price of the first CAR-T product with the same target is $419,500. "The premium of about 11% is a very reasonable premium, based on our differences in clinical efficacy."

According to the agreement signed at that time, in Greater China, Johnson & Johnson and Legend Bio will share the costs and benefits in a ratio of 3: 7; In other parts of the world, the agreed ratio is 5: 5.

Huang Ying said that in response to the commercialization of Cedakio Orense in the United States, Legendary Biology has recruited its own sales team in the past 6-9 months, responsible for 75-80% of large hospitals and clinics in the United States; Johnson & Johnson has a relatively large tumor sales team serving the community, and will recommend Cedactylosin to 5,500 hematology oncology specialists in the United States, hoping that these specialists can introduce patients to large local diagnosis and treatment centers and hospitals for treatment with Cedactylosin. At the same time, Johnson & Johnson will also set up a relatively small and specialized product team to promote this product to large hospitals and diagnosis and treatment centers.

Behind the first CAR-T

Sida Chiolense has attracted much attention in the research and development stage.

ASCO, the American Society of Clinical Oncology, is a great event in the medical field every year, and many heavy new drugs choose to publish the latest research data on ASCO. On the last day of ASCO in 2017, the legendary creature announced the early data of the self-developed CAR-T product LCAR-B38M (R&D code of Sida Giorense) to the pharmaceutical industry peers and experts around the world.

According to the report of Zhao Wanhong, the research organizer and deputy director of the Department of Hematology, the Second Affiliated Hospital of Xi ‘an Jiaotong University, among the 35 patients with recurrent multiple myeloma who were treated by CART, 33 (94%) got clinical remission 2 months after treatment, and the objective remission rate was 100%.

In addition, among the 19 patients who received treatment at the earliest time, 14 patients achieved strict complete remission, 1 patient achieved partial remission, and 4 patients achieved excellent partial remission. The earliest patients who received treatment have lived for more than one year, and they have reached the living state of healthy people.

It’s not imitation, nor improvement, but the exploration and innovation of a China enterprise in the "no man’s land", so when the data of Xidajiaolun match came out, everyone was surprised.

Fan Xiaohu, chief scientific officer of Legendary Biology, recalled that at that time, "it attracted global attention and (Legendary Biology) became the dark horse of China", and many people in the industry gave him feedback, and many start-ups after 2017 were encouraged.

Followed by a number of international pharmaceutical companies seeking business cooperation, after repeated communication and back tone, Legend finally joined hands with Johnson & Johnson.

In December, 2017, Legendary Bio signed an exclusive global license and cooperation agreement with Johnson & Johnson to jointly develop and commercialize Cedarchiorense. Johnson & Johnson paid Legendary Bio a down payment of $350 million and subsequent milestone payments.

By today’s standards, the down payment of $350 million is not high, but at that time, it was the best condition for China pharmaceutical companies to record the largest amount of down payment for foreign patent authorization and cooperation.

Regarding the cooperation between the two parties, Huang Ying said that Legend’s cooperation with Johnson & Johnson has strengthened the legendary creature’s ability in the process of R&D and registration of Sida Chiolense. From early R&D to late R&D, including clinical, commercial production, GMP production, compliance registration and other processes, the legendary creature’s team actively participated in the whole process, and also cultivated their own ability in the process of learning from Johnson & Johnson.

However, this cooperation model also has shortcomings, "the whole cycle is very long and the investment is very, very large", because Legend’s investment in the American market is as 50-50 as Johnson & Johnson’s, which is a relatively large financial burden for legendary creatures of innovative pharmaceutical companies.

multiple myeloma

Cedactylorense is a chimeric antigen receptor (CAR) T-cell immunotherapy with two single-domain antibodies targeting B-cell mature antigen (BCMA), which is administered by one-time infusion.

Cedactylorense has been approved by FDA to treat patients with relapsed or refractory multiple myeloma, who have received four or more treatments in the past, including proteasome inhibitors, immunomodulators and anti-CD38 monoclonal antibodies.

Multiple myeloma is considered as an incurable hematological tumor, and it is a malignant disease caused by excessive proliferation of plasma cells in bone marrow. Most patients relapse after initial treatment, and the prognosis is not good after receiving the main drugs such as immunomodulator, proteasome inhibitor and anti-CD38 antibody.

According to the American Cancer Society, in 2022, more than 34,000 people in the United States will be diagnosed with multiple myeloma, and more than 12,000 people will die.

Sundar Jagannath, a professor of hematology oncology at Mount Sinai Medical College and a principal investigator of CARTITUTE-1, said that the treatment process of most patients with multiple myeloma is a cycle of continuous remission and recurrence, and only a few patients get deep remission after last-line treatment. "That’s why I am very excited about the results of CARTITUDE-1 study, which shows that Sidakiorense can provide deep and lasting remission and long-term no treatment even after multi-line treatment.

The approval of Sida Chiolense is not based on the data reported in ASCO in the United States in 2017, but on the key data of a CARTITUDE-1 study. CARTITUDE-1 is an ongoing phase 1b/2, open-label, one-arm, multi-center study, with 100% patients from the United States.

In CARTITUDE-1 study, 97 patients with R/R MM experienced deep and lasting remission, with an overall remission rate (ORR) of 98% and a strict complete response (sCR) of 78%. During the median follow-up of 18 months, the median remission duration (DOR) was 21.8 months.

The incidence of multiple myeloma in China is 2-3 patients per 100,000 people. Although it is lower than that of Caucasian and African people, there are considerable unmet clinical needs because of its large base.

Regarding the listing of this product in China, according to the latest communication between Legend Bio and National Medical Products Administration Drug Evaluation Center (CDE), some patients need to be re-enrolled in clinical trials. Huang Ying said that she would keep in touch with CDE during this period.

Enlightenment of "going out to sea"

The research and development cost of innovative drugs is extremely high, and with the implementation of policies such as domestic centralized procurement and medical insurance negotiation, it is almost impossible to recover the research and development cost in a short period of time after the innovative drugs are listed. Under the circumstance that the cost cannot be covered by a single market, it has become an industry consensus to "go out to sea" and develop the international market.

Compared with biopharmaceuticals, the R&D and production of CAR-T are more complicated. The "Going to Sea" of Sidaji Orense is another innovative drug listed in the United States after Zebutini of Baekje Shenzhou.

But before that, in February, Cinda Bio’s PD-1 product Cindilizumab had just been defeated in the United States. In view of the passing of cindilizumab, FDA experts mainly pay attention to three issues: first, whether the control group selected in clinical trials is reasonable; Second, the clinical trial is only done in China population, is it applicable to American patients? Thirdly, it mainly studies whether the design of the terminal is reasonable.

In Huang Ying’s view, since China joined ICH, the regulatory standards of National Medical Products Administration, China are basically the same as those of FDA, focusing on efficacy and product safety evaluation. "There is not much difference between FDA and CDE standards. There may be slight differences in the number of patients enrolled, the length of follow-up, GMP, production process, quality control and other issues, but for a new drug, efficacy and safety are the gold standards."

However, Huang Ying also believes that for enterprises, there are also places that need special attention, such as whether the experimental population can represent the situation of American patients in the real world when doing clinical trials. In the United States, the Asian population is about 5%. It is difficult to apply for approval with the data of 100% Asian population or Chinese.

One more thing, does the control group designed in clinical trials use placebo or the best treatment standard already available in the market? "CDE has also issued guidelines. Even if you do clinical trials in China in the future, you can’t just use placebos, but you need to use the best standard drugs in the industry as the control standard." Huang Ying said.

Fan Xiaohu, on the other hand, thinks that biomedical enterprises in China should not worry about policy vacillation and payment all day long, or whether the door of the FDA in the United States will be closed. "These don’t need to be overly worried and interpreted, but (what is needed) do their own thing well and do scientific and technological innovation well."

Reporting/feedback

After 00, the social fear is all fake.

Author: Titan

Social fear and social cattle, two seemingly contradictory labels, appeared on the post-00 generation at the same time.

After 00, offline social fear, online social cattle? Do you think so? /vision china

Some people call this phenomenon "social schizophrenia" and summarize the related "symptoms"-

Years are quiet in front of acquaintances, and they immediately yell on the Internet.

Below the line, Nuo Nuo is the only one, and the online debate is clear.

The alumni group is anonymous, and the internet is exquisite.

Obviously, the first three and a half sentences represent the side of social fear, which is basically reflected in the acquaintance community or online scenes; The last three and a half sentences represent the side of social cattle, mainly arguing from a distance on the Internet, or speaking freely across the screen.

Is this contradiction and division the essential attribute of social life after 00?

Come to the conclusion first, it’s not. Social schizophrenia is only an appearance, especially the social phobia, which is mostly fake and not real social phobia.

Social fear is just a post-00 attitude.

Not character.

First of all, it should be clarified that social phobia is not like social cattle, which is purely a network term, while the former is really a mental illness.

In medicine, social phobia is defined as a clinical disease, which belongs to a kind of phobia, as well as intensive phobia, claustrophobia and agoraphobia. We often say that obsessive-compulsive disorder, anxiety disorder and phobia are juxtaposed, all of which belong to psychogenic diseases.

Real social phobia patients will have painful psychological reactions, such as palpitation and nausea, which seriously affect their work and life, and sometimes even need drug treatment.

Is it possible that social fear after 00 and Degang Guo’s "introversion" are essentially the same?

After 00, children claim to be socially fearful per capita. Obviously, it can’t be psychogenic social phobia, but they are just bored with unnecessary social interaction. This kind of boredom can be clearly felt from the attitude towards "League Building" after 00.

According to the data provided by Pulse, only 11.4% of the post-90s generation are willing to participate in the league construction, and the post-00s generation is as low as 10.2%, and this figure is still 21.6% among the post-90s workers.

After 00, I especially dislike wine table culture, and some after 90 will do the same, but the performance is different. A considerable number of people after 00 will not go to the wine table at all, and will find various reasons to refuse this occasion. If there is no way to go, they will refuse on the grounds of "I am allergic to alcohol", but after 90, they will still drink this cup half-heartedly, even if they don’t speak wine table language like those after 70 and 80.

Sang Yong is a junior in Guangzhou. She told the reporter of New Weekly that her high school class has never organized a class reunion since graduation, because "it can’t be organized". People are more inclined to go online in groups of three or five to find people to play script killing, rather than a bunch of people crowded at the table to chat.

After 00, I especially like the virtual social interaction such as script killing and escape from the secret room, but I don’t like the old-fashioned wine bureau and dinner, because virtual social interaction can avoid the torture of privacy and go straight to happiness itself. The wine bureau and the dinner table symbolize the power structure and social class. You can’t express yourself, but you can only succumb to the existing authority and follow the meaning of your elders.

The atmosphere created by the script killing has formed a strong connection between 00. /vision china

Undoubtedly, the post-00 generation flaunts its free personality, and freedom and personality are largely reflected in the courage to say "no". Flaunting social fear is not so much an intergenerational character after 00, but rather an attitude of saying "no" to unnecessary social interaction.

You know, in the eyes of "before 00", the wine bureau dinner is a necessary socialization. Because participating in these occasions means getting more familiar with elders and superiors, getting more attention from elders and superiors, and thus winning more promotion opportunities.

However, in such a period of social differentiation and mobility, the promotion is boundless and the promotion path is narrow. Instead of compromising for the so-called slim opportunity, it is better to pursue pure happiness and be yourself directly. After all, happiness is the most necessary thing.

"Social schizophrenia" does not exist.

The per capita "social cow" is after 00.

In November 2021, China Youth Daily conducted a questionnaire survey on "social fear" for college students all over the country. The results showed that 80.22% of the college students interviewed said that they had a slight "social fear"; 6.90% said that they had serious "social fear"; Another 0.64% said that he was really diagnosed as social phobia by medicine.

The social fear rate of over 80% does not affect the post-00 generation children to express themselves and make their own voices on the Internet. This is because the essence of individuality is expression and the essence of interest is sharing. As the aborigines of Internet subculture, the post-00 generation will naturally not miss all kinds of social platforms.

JK and Hanfu have been considered as the mainstream sub-cultural circles, and even the pens have circles, which is really after taking 00. /deep combustion

Even after the introverted 00, there will always be areas and platforms that are willing to speak.

Yingchao just entered the university last year. Her personality is very introverted, but she has not become a Japanese "abandoned house" generation, but a treasure youth with rich interests. Ying Chaoku loves online literature. She is not only familiar with the authors and works of all kinds of online literature, but also has numerous stories in her works. She often writes by herself and shares them with her peers.

Yingchao often argues with fellow fans because some plots are reasonable or not. This kind of argument is usually fierce. At this time, Ying Chao’s desire to express herself is very strong. She will defend herself, but when she finds out that it is really her own problem, she will also "retreat".

In the process of talking with the reporter of New Weekly, Ying Chao is confident and rational, which is almost a feeling of being a social cow. I can’t feel her fear of society at all, but in fact she doesn’t like group-building parties very much.

Some people think that the "social division" after 00 is a reflection of social fear online and offline, but this summary is not accurate. After 00, not all online social platforms will show the side of social cattle.

The most prominent example is WeChat. The reporter of New Weekly observed that some people will "operate" their circle of friends after 00, that is to say, with different moods, the content displayed by the circle of friends is also different-

When you are happy, the circle of friends will release past selfies and punch cards, and the number is generally small, with a maximum of four or five; When you are unhappy, simply don’t show anything, just leave a horizontal line.

After 00, people rarely talk in the circle of friends, but it is also WeChat. If they are in interest groups, they will be very active after 00. The reporter of New Weekly observed that the generation rate of group news for interest groups with post-00 generation as the main body is often much higher than other age groups, and it can reach 999+ in 10 minutes at the earliest. In Weibo, bilibili and other platforms, it is also very active after 00.

Online after 00 is not necessarily a social cow, and the circle of friends is the best example.

On the other hand, it is not always social fear in online and offline social interaction after 00. Especially the offline activities organized by interest groups tend to be very active after 00. The first time, the noodle base may be a little rough. Although we met, we still chatted in the group. And then the facial base will be much more active.

After 00, they like to play with stalks, often after the noodle base. They like to turn some photos of group friends with stalks into expression packs, forming a social closed loop from offline to online.

To sum up, social fear or social cattle after 00 does not depend on online or offline scenes, but on whether the social interaction you face meets your psychological needs.

For the post-00 generation, there are parents, elders and superiors in the circle of friends. Just like talking at the dinner of the wine bureau, the content sent in the circle of friends needs to be cautious, but what content is presented must be defined by itself; Weibo, bilibili and WeChat groups are extensions of personality and interests, so they can talk openly, so they are full of social cattle.

Be yourself after 00.

Also refuse atomization.

Some people attribute the post-00 social phobia to personal atomization caused by social structure.

Hannah arendt, a German political scientist, once said: "In modern society, atomized individuals are lonely, immersed in material enjoyment and completely private. Such individuals are ubiquitous and there is no strong connection between each individual."

This view is not accurate. After 00, it is indeed a generation of personality. Personality means being yourself and minimizing personal restrictions, not blindly following others. But personalization does not necessarily lead to atomization, although it seems so.

Although it is disobedient, it is also a bit cute. Will the superior be angry?

Compared with post-90s, post-00s prefer to live alone rather than share a room. Apart from avoiding unnecessary socializing, people have different living habits, and sharing a room will inevitably lead to discord in their living habits. It is better to live alone than to compromise with others. But this kind of living alone is essentially different from the Japanese abandoned house living alone.

Many young people in abandoned houses can stay at home and never see the light. Not after 00. They love light. More than that, children should make their lives colorful after 00.

00 is not like atoms or grains of sand, and there is no connection between them. On the contrary, the generation after 00 is the most closely connected with each other.

Among them, the most important thing is interest connection, especially in this process, many sub-cultural circles have been formed, such as Hanfu culture and cosplay culture, which have been regarded as the mainstream culture in sub-cultures. Once it becomes the mainstream, it will be further subdivided and extended to a smaller audience after 00.

In addition to interest connection, the generation after 00 still favors strangers to socialize.

According to the statistics of Ai Media Consulting, in recent years, the scale of social users of strangers in China has been growing, reaching nearly 650 million in 2020. Another group of survey data from Mob Research Institute shows that more than 40% of the respondents prefer to seek strangers with common interests in the online social interest tendency of the group born in 1995-2010.

There is a stranger social software called Dots, which is especially sought after by the post-00 generation. After 00, he said: "Dots is my secret garden. In Weibo, WeChat and QQ, I face acquaintances, and I have to play the established role. But in Dots, I don’t have to care about the eyes of my elders and classmates. No one will think that I am second grade and melodramatic."

The so-called social phobia and social schizophrenia are all appearances here after 00, and the real inside is the confidence, autonomy, personality and sunshine after 00.

This is not a generation lost, but an interesting generation.

(Note: Sang Yong and Ying Chao are pseudonyms)

Beijing： In 2023, the maximum deposit base of housing provident fund is 8,134 yuan per month.

　　Cctv newsAccording to the Office of Beijing Housing Provident Fund Management Committee, in accordance with the requirements of Regulations on Housing Provident Fund Management and Several Provisions on the Implementation of Regulations on Housing Provident Fund Management in Beijing, the Beijing Housing Provident Fund Management Committee deliberated and passed, and reported to the municipal government for approval, the relevant issues concerning the housing provident fund deposit in 2023 (from July 1, 2023 to June 30, 2024, the same below) are hereby notified as follows:

　　First, the proportion of housing provident fund deposit

　　In 2023, the housing provident fund will continue to implement the deposit ratio policy of 5% to 12%. The deposit unit can independently determine the specific deposit ratio within the prescribed scope according to its own economic situation, and adjust the deposit ratio when applying for the annual payment base declaration of employee housing provident fund.

　　Second, the upper and lower limits of the housing provident fund deposit base

　　The upper limit of the annual housing provident fund deposit base in 2023 is 33,891 yuan, and the upper limit of the specific deposit ratio corresponding to the monthly deposit amount is shown in the annex.

　　Since September 1, 2023, the minimum monthly deposit base is 2420 yuan, and the minimum monthly deposit base for employees receiving basic living expenses is 1694 yuan. For newly accepted housing provident fund personal housing loans, the monthly basic living expenses standard used to calculate the loan amount of loan applicants is implemented at 1694 yuan.

The MG is on fire again, with a front drive from 81,900.

Although the power is strong, the corresponding fuel consumption will also increase. Low fuel consumption can save you a lot of money, and the money saved can enable you to do more things. Today, this car is very distinctive. Come and see it quickly.

First of all, from the appearance, the front face design of MG5 is very simple and looks very sporty. Headlights are very in line with consumers’ aesthetics, and many interesting details can be seen from them. The car is equipped with automatic opening and closing, delayed closing and so on. Coming to the side of the car body, the size of the car body is 4715MM*1842MM*1480MM. The car adopts round and lovely lines, and the side wall feels very cool. With large-sized thick-walled tires, it looks full of sports. Looking back, the tail line of MG5 moves, the taillights show a deep design style, and the unique exhaust pipe looks very cute as a whole.

When coming into the car, the interior of MG5 enhances the visual sense of dynamic and lively, and is full of fighting atmosphere. The steering wheel of the car is very in line with the interior style, made of plastic material and has a high palm fit. From the central control point of view, the car is equipped with a touch-sensitive LCD central control screen, which makes the interior design quite layered and gives people a comfortable feeling. Let Xiaobian introduce the dashboard and seats. The dashboard of this car presents a streamlined design style, which is very eye-catching. The car uses leather seats, which are wide and thick, and the overall ride feels soft and comfortable.

The MG5 is matched with a wet dual clutch (DCT) gearbox, with a maximum power of 133KW and a maximum torque of 285N.m, and the power performance is good.

The MG5 space performs well, and the leg head space is quite comfortable, which brings a better ride experience. At the same time, the car is equipped with safety configurations such as anti-lock braking (ABS), brake assist (EBA/BAS, etc.), braking force distribution (EBD), traction control (ASR/TCS, etc.), body stability control (ESP/DSC, etc.), main driver airbag, co-pilot airbag and front side airbag.

After reading this car, I believe you have a general understanding. The model level introduced today is the level that many people consider most when buying the first car, mainly because the model of this level is moderate in size and reasonable in price.

Between ＂family＂ and ＂self＂, the married man has perfected the art of ＂carrying water＂

　　CCTV News:The Survey of Good Life in China pays special attention to the consumption characteristics of married men. Where do they spend more? What are the differences between the consumption characteristics of married men in different regions? Let’s take a look.

　　According to the data of China Good Life Survey, married men have a strong sense of family responsibility. Cars, housing and insurance are their favorite consumption, and their consumption in these three aspects is obviously higher than that of men in other States. At the same time, however, they have the greatest pressure to shoulder family responsibilities, and they spend the least on entertainment consumption such as tourism, culture and entertainment. Another interesting discovery is that responsible married men are more eager to get promoted in education and training. Being a good husband, a good father and a good son, married men seem to be working hard on this road.

　　In the comparison of married men’s consumption expenditure in seven regions, the survey found that married men in South China love to buy houses most, men in Southwest China love to buy cars most, people in Northwest China love fitness more, and people in Northeast China prefer digital products such as computers and mobile phones. Married men in North China have a great demand for self-improvement and pay more attention to health preservation.

　　In the comparison of different types of cities, married men in first-tier cities spend far more on housing than married men in second-and third-tier cities, while married men in second-and third-tier cities spend significantly more on health care, cars and tourism than those in first-tier cities. In contrast, married men in first-tier cities are under greater pressure and have no life to settle down.

　　No matter where they are, married men in the first, second and third tier cities are surprisingly consistent in spending on education and training. According to the data of the past ten years, married men in different types of cities have reached a high degree of unity in education and training expenditure for the first time.

　　Married men generally pursue high-profile education and training consumption. Where do they spend all their money? A more in-depth survey on the Internet found that more than 70% of married men who have a high willingness to spend on education and training actually spend money on their children’s education. What a pity for inherit the wind!

　　What do married men choose to do in their leisure time in a day? A large survey found that between "family" and "self", the art of "carrying water" by married men has been perfected. Nearly half of the married men are willing to undertake the trivial housework during this time, 38.96% of them just want to "quietly" brush their mobile phones, 36.98% choose to watch the world through TV, and 31.12% are willing to experience life in a sweat.

Aerospace Hongtu was investigated by 143 institutions： the company made corresponding layout according to the development direction of digital economy and market demand, with a wide range of business

Name of participating unit Category of participating units Name of participants Shangyin fund Fund company Lou Xinyu Zhonghai fund Fund company Chan Sing China Aviation Fund Fund company Chen zhoufei Jiutai fund Fund company Ying Nanshu Xincheng fund Fund company Zou Wei Industrial fund Fund company Johnston Xingquan fund Fund company Zhang Xiaodong Chuang Jin he Xin Fund company ChuMinChou, Li Han, Guo Zhenyue Huaxia fund Fund company Guo kunyan Bodo fund Fund company Gao Xiaoxiao Harvest fund Fund company Yang Huan, Wang Wei, Wang Gui, Xie Zelin, Chen Tao, Chen Liming Guhe fund Fund company Sun mingfang National fund Fund company Bian guangjie Wukong fund Fund company Huang ge Construction investment fund Fund company Zhao Jian Fangzheng fubang Fund company Gong Yongjian Jiangxin fund Fund company Wang Wei TEDA Manulife Fund company Zhang Yan Smart fund Fund company Jiang tongfa Hongta laterite Fund company Li xukai Golden Eagle Fund Fund company Hao Du Gaoyuan fund Fund company Arqie Wanlian securities securities company Wu Yuanheng Dongxing securities securities company Liu Meng Northeast securities securities company Wu yumeng Soochow securities securities company Yao Jiuhua and Qian Jiaxing Orient securities securities company Pu Junyi, Xie Chen, Chen Chao Citic jiantou securities company Wang Chunyang CITICS securities company Liu Wenshu, Song Shaoling, Chen Zhuo, Ma Qingliu Central china securities securities company Tangyue Zhongtai Securities securities company He Shouyu, Fang Chenglin Zhongjin company securities company Liu Zhongyu, Jing Liu, Liu Bin, Liu Yunchang, Zhuo Delin, Li Mengfei and Dong Junye. Zhongjin wealth securities company Wan minxin Boc international securities company Liu Tongtong Minmetals securities securities company Jinxinglong Everbright securities securities company Leng Hao, Yan Yanni, Wei Tianye Industrial securities securities company Chen Xin huaan securities securities company Chen Jing Huatai Securities securities company Wan Yilin, Lin Hailiang, Xie Long Huaxi securities securities company Ma xingchuan Guoxin Securities securities company Zhu Song, Chen Tong Guoyuan securities securities company Geng junjun Guotai Junan securities company Lou Jianxiong, Fan Ming Guolian securities securities company Huang kai Guojin securities securities company Ji Chao TF Securities securities company Liu Jingyi, Zhang Minglei, Chen Hanbo GF Securities securities company Cao Yifan Open source securities securities company Liu Xiaoyao and Chen Baojian Deppon securities securities company Zhou Lujia and Yin Tong Minsheng securities securities company Feng Xin, Zhao Boxuan 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insurance company SUN XIAN Happy life insurance company Hou Tao, Yuan Ziyang Xinhua assets insurance company Chen Chaoyang Taikang Life Insurance Co.,Ltd. insurance company Liu Yue and Chen Hongyi Taikang assets insurance company Zhang yi Fullerton Clients Accounts overseas establishment Liu Hong Horizon China Master Fund overseas establishment Li Shengnong New Silk Road Investment overseas establishment Hoong Yik Luen Value Partners Limited overseas establishment LI Boyi Bisheng investment QFII Gong Changsheng Dexin Investment Limited other xu dongmei Greenlane Capital Limited other Liu Peter GREENWOODS ASSET other Qian bing Shanghai xitai other Chen mengbi Zhongyu assets other Yuan pengtao Feng yuan Zheng Xin other Bai Bin Mutual development assets other Ping Li Genxi private placement other Zhudengke Genxi assets other Dong Gaofeng Renqiao assets other Ma Weilin Agricultural bank wealth management other Gong Xiaohui Binghe assets other Liu Chunmao Huaqiang dingxin other Hai Zhou 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59 real estate projects use ＂problem concrete＂. What happens when some floors need to be rebuilt？

　　CCTV News:On November 9, Changsha Housing and Construction Bureau informed that the strength of concrete members was not up to standard due to the confirmation of the use of "problem concrete", and some floors of two buildings in Wangcheng District of Changsha needed to be demolished and rebuilt. What happened?

　　On the 12th, the reporter observed at the scene that there are more than ten high-rise residential buildings in Changsha Xincheng International Huadu Phase V Project, and most of the main buildings have been capped. The C10 building with problems has more than 20 floors, and the top and bottom of the building are covered by construction protective frames and retaining nets. The reporter learned from the staff of the developer Xincheng Wanbo Real Estate Co., Ltd. that only C10 building has problems at present. Residents of the same community said that they had recently heard that there were problems with the newly built floors and were worried about the quality of the houses.

　　Xinhualian Dream City: Reinforce the buildings involved.

　　According to the report of Changsha Housing and Construction Bureau, another project that used the problem concrete was Xinhualian Dream City, which is also located in Wangcheng District. The reporter of the sales center here found that there were not a few people who came to see the house, and most of the delivered buildings were hung with the words "sold out". Most buyers did not know that the concrete of the buildings under construction did not meet the requirements.

　　Reporter:Building 13 of Xinhualian Dream City just resumed work in August this year, and it was built from the 20th floor to the 25th floor. After receiving the inspection report that the concrete did not meet the requirements in September, the whole building was shut down. So at present, the plan given by experts is to carry out local reinforcement, and the staff said that it is expected to be completed within half a month.

　　Wang Qiang, Engineering Director of Hunan Xinhualian Real Estate Development Co., Ltd.:It’s just that the 21st to 25th floors were only built for one month, and they stopped working when problems were found. Our developer signed a contract with the contractor who contracted the project to us, and the contractor signed a contract with our material supplier according to the procedure. This is a normal procedure.

　　Investigation on the cooperation of the problem concrete supplier and the legal person who stopped production

　　So where did the problem concrete used in these two residential construction projects in Changsha come from? What is the situation of the manufacturers involved? What’s the progress of the investigation so far?

　　The reporter learned in the factory that the six production lines of this company are managed by three responsible persons, operating independently and being responsible for their own profits and losses. Although raw materials are not purchased in a unified way, they will be tested in a unified way when they leave the factory. At present, only the concrete produced by Line 5 and Line 6 has quality problems, and the other four production lines have not.

　　Employees of Hunan Tuoyu Concrete Co., Ltd.:At 1: 00 a.m. on the 9th, production was completely stopped, and the whole project stopped, including all the projects supplied by our company that were originally supplied here according to our current understanding.

　　Tuoyu Company has the qualification of ready-mixed concrete.

　　The reporter checked the information and found that Tuoyu Concrete Company obtained the qualification of "Ready-mixed concrete professional contracting without grading" from Changsha Housing and Urban-Rural Development Committee in 2016, and the certificate is still in the validity period. After the problem was discovered, the company’s concrete production line stopped half in late October, and the insurance money of the truck carrying concrete was still outstanding.

　　At the same time, the reporter also noticed that as early as February 2018, Tuoyu Concrete Company was ruled by the Wangcheng District People’s Court of Changsha City to freeze the company’s bank deposits of 9.61 million yuan. However, due to its inability to perform, it has since been included in the list of untrustworthy executors. In the past two years, Tuoyu Concrete Company has also been involved in many sales contract disputes, with a total amount exceeding 10 million.

　　A total of 59 projects in Changsha use "problem concrete"

　　The next question that the reporter is concerned about is, in addition to the two buildings that have been visited, which projects have these substandard concrete been transported to? What are the problems? Our reporter then visited the relevant testing department, and Changsha Housing and Construction Bureau also responded to the relevant situation.

　　According to the report of Changsha Housing and Construction Bureau on November 9, there were 59 real estate projects using Tuoyu Concrete Company’s products in the same period in the city, and 37 projects are currently undergoing on-site testing. Of the 22 projects that have been tested, only the concrete strength of two buildings in Xincheng International Huadu and Xinhualian Dream City is not up to standard, all of which are located in Wangcheng District.

　　Liao Yong, Deputy Director of Housing and Construction Bureau of Wangcheng District, Changsha City, Hunan Province:There are 34 projects in Wangcheng District that use the products of this concrete manufacturer. At present, we have checked 12 projects and 22 are still being checked.

　　In order to understand the concrete quality inspection of the buildings involved, the reporter visited Hunan Huda Civil Engineering Inspection Co., Ltd., and the staff said that they were mainly responsible for the fifth phase project of Xincheng International Huadu. At present, the concrete strength of 11 buildings in the project has been evaluated, but the relevant investigation commission has not been received for the source of concrete problems.

　　The researchers told reporters that the concrete strength is not up to standard, which may be caused by the fact that the quality of raw materials such as sand and gravel for making concrete is not guaranteed, and on the other hand, it may be caused by the construction party’s improper operation in the pouring process. The specific reasons need further investigation. At present, two non-compliant projects that have been detected have entered the investigation and handling procedures, and relevant departments in Changsha are organizing investigations on related construction projects.

　　Liao Yong, Deputy Director of Housing and Construction Bureau of Wangcheng District, Changsha City, Hunan Province:First, comprehensively check the engineering quality of all our construction sites; second, comprehensively check the quality of all concrete mixing stations in our area.

　　Changsha Housing and Construction Bureau said that 37 projects using "problem concrete" are currently being tested on site, and the test results will be announced in time. On the basis of comprehensive on-site inspection and investigation, Changsha Municipal Housing and Construction Bureau will seriously investigate and deal with the main units responsible for the construction, construction and supervision of problematic projects and ready-mixed concrete enterprises, and announce the results to the public.

Analysis on Data Requirements of End-to-end Intelligent Driving

Intelligent driving technology is striding towards the end-to-end direction, and its technical iteration affects the nerves of the whole intelligent driving industry. From the overall structure, the end-to-end technical route can be divided into global end-to-end and modular end-to-end.

Global end-to-end is simply divided into two categories: world model and VLM.Usually, the parameter scale is very large, and the global end-to-end generalization ability is stronger.,Agent has strong interactive understanding.

Modular end-to-end and traditional algorithm approximation,Auxiliary modules can be added at will to easily cope with traffic rules constraints; The end-to-end consumption of modules is relatively low, and the generalization ability is weak.

In fact, modular end-to-end is the mainstream of end-to-end that is close to landing at present, and a few enterprises are studying the overall end-to-end.(Tesla may have used a global end-to-end, but there is very little public information; Weilai plans to launch the world model). In China, Huawei ADS 3.0 is recognized as the leading intelligent driving system. Its technical route is modular end-to-end.

Huawei ADS 3.0 architecture

This paper analyzes the requirements of end-to-end technology for data from the industry, mainly involving dataScale, quality, diversity, real-time and closed-loop feedbackAnd so on.

End-to-end intelligent driving relies on deep learning models, which usually requireenormous dataConduct training. Tesla relies on millions of cars equipped with cameras and sensors around the world to continuously collect driving data to train the FSD(Full Self-Driving) system. In the financial report, Musk once mentioned the data needed for the training model: "One million video trainings are barely enough; 2 million, slightly better; 3 million, you will feel "wow!" ; When it reaches 10 million, it becomes unbelievable. "

Tesla data engine framework (From the network, small hidden drawing)

ask：

  • Millions to billions of kilometers of data, covering different weather, lighting, road conditions, traffic flow and other complex environments.

High-quality data is very important for end-to-end learning, especially labeled data. Traditional autonomous driving (such as Waymo) usually relies on high-precision maps and accurately labeled 3D point cloud data. Tesla and domestic OEMs are abandoning high-precision maps and turning to the "visual priority" strategy, requiring neural networks to understand the environment end to end. Relying on automatic labeling system to reduce manual intervention and improve data quality. Automatic labeling can replace 5 million hours of manual work, and manual work only needs to check and fill in a very small part.

ask：

  • accuracyMismarking data may lead to learning deviation and affect security.
  • Denoising: Filter sensor errors and low-quality data (blur, occlusion, etc.).
  • consistencyThe data of the same scene at different time points should be reasonably consistent for network generalization.

From the perspective of the whole industry,It is a new trend to improve data quality through self-supervised learning technology.. NVIDIA has improved the efficiency and reliability of data annotation through EmerNeRF’s self-supervised learning technology.

EmerNeRF decomposes scenes by introducing three neural fields: static field, dynamic field and flow fields, so as to realize effective learning of complex scenes.

EmerNeRF decomposes and reconstructs pipelines.

Static field is responsible for labeling static elements such as buildings, signs and street lamps, while dynamic field expresses all moving objects, while flow field simulates the motion of dynamic objects and is used for dynamic feature aggregation in time. Most importantly, EmerNeRF can learn these scenes automatically from raw data without any manual annotation. After learning, the model can present the temporal and spatial changes of the scene at the same time, and then realize the high-fidelity reconstruction of static scenes and dynamic objects. Through this technology, it can help mass production enterprises to further improve the training volume and gain more opportunities in end-to-end autonomous driving.

The end-to-end model needs to deal with the complex and changeable driving environment, so the data must have a wide range of scene coverage:

  • Geographical diversitySuch as cities, highways, rural roads, mountainous areas, etc.
  • weather condition: sunny, rainy, snowy, foggy, etc.
  • Difference of traffic rulesDifferent countries and regions have different traffic regulations, signs and driving habits.
  • Long tail sceneExtreme situations (sudden intrusion of pedestrians, crossing of animals, sudden accidents, etc.) are often the difficulties of autonomous driving. Tesla uses "shadow mode" to capture these cases and use them for training.

ask：

  • For global vehicles, it is necessary to collect global data, covering different cultures and regulations.
  • Reinforcement learning pays special attention to the "long tail problem" data to avoid the failure of the model under Corner Case.

Since Tesla FSD entered China in 2025, many institutions have evaluated it. According to their feedback, the performance of FSD in China is moderate, although the basic driving ability is excellent.However, there are many defects in traffic light recognition, traffic rules compliance and mixed traffic scenes.. The main reason for this situation is the influence of data diversity differences. (FSD basically does not use China road traffic data to train the model. )

Intelligent driving system needscontinuous renewalData to adapt to the new driving situation. When there are many test vehicles, it is necessary to filter, compress and transmit valuable scenes efficiently. Tesla’sThe FSD Beta version adopts a fast iteration strategy.Its data pipeline can automatically discover and collect "valuable cases" to improve the model. The characteristics of end-to-end learning determine that it is more dependent on real-time data feedback. For example, when the model is wrong in a specific driving environment, the system needs to quickly recover data, analyze problems, and update the model through OTA.

ask：

  • Data collection, processing, training and deployment should have high efficiency.
  • Through automatic scene identification and screening mechanism, scene data can be distilled efficiently and effective data can be obtained quickly for model training and evaluation.

The core advantage of end-to-end driving lies in data-driven closed-loop learning.

  • Application of shadow mode: Even if ADS doesn’t really take over driving, the system can still run in the background and record.Model decision vs. Difference of human driver’s decision.If the deviation is found, the scene data will be returned and used for model optimization.

Tesla shadow mode

  • Data enhancement and simulationTesla, NVIDIA, Weilai, Xiaomi and other companies use neural networks to generate Neural Rendering, while Waymo and other companies build large-scale virtual test scenarios for model fine-tuning.

Tesla trained the model through simulation.

High confidence synthetic virtual scene (aiSim)

ask：

  • data mining: Automatically identify low performance areas and improve the convergence speed of the model.
  • Simulation ability: Using high fidelity analog data to improve data utilization.

andThe requirements for data are extremely strict, including:

  • Large scale data: covering millions to billions of kilometers of driving data.
  • High quality labeling: Reduce manual intervention and improve the accuracy and efficiency of labeling.
  • Scene diversity: Covers various road conditions, weather, geographical environment, etc.
  • real-time: Quickly collect, analyze, optimize and update OTA.
  • closed loop feedback: Automatically discover problem data and optimize the model.

Central Bank Report： The prudent monetary policy in the first quarter was flexible, moderate, accurate and effective.

　　Today (May 10th), the People’s Bank of China released the implementation report of China’s monetary policy in the first quarter, which pointed out that the prudent monetary policy in the first quarter was flexible, moderate, accurate and effective, which created a good monetary and financial environment for the economic recovery.

　　First, maintain a reasonable and sufficient liquidity. At the beginning of the year, the RRR was lowered by 0.5 percentage point, and the medium-and long-term liquidity was released to exceed 1 trillion yuan. In addition, tools such as open market operation, medium-term lending facilities and refinancing were comprehensively used to maintain a reasonable and sufficient liquidity. Pay attention to guiding financial institutions to strengthen the balanced supply of credit and provide stable and sustainable financial support for the economy.

　　The second is to promote the steady decline of financing costs. We will lower the interest rates of small loans and rediscounts for supporting agriculture by 0.25 percentage points, continue to promote the marketization of deposit interest rates, and guide the market quotation rate (LPR) of loans with a term of more than five years to fall by 0.25 percentage points in February.

　　The third is to guide the adjustment and optimization of credit structure. We will set up a 500-billion-yuan refinancing for scientific and technological innovation and technological transformation, relax the criteria for identifying small and micro-credit loans, expand the scope of support tools for carbon emission reduction, and do a good job in the "five major articles" of finance.

　　The fourth is to keep the exchange rate basically stable. Adhere to the decisive role of the market in the formation of the exchange rate, give full play to the adjustment function of the exchange rate to the macro-economy and balance of payments, strengthen the expected guidance, and prevent the risk of exchange rate overshoot.

　　The fifth is to strengthen risk prevention and resolution. Improve financial risk monitoring and evaluation, and properly handle risks in key regions and key institutions. Promote the debt risk resolution of financial support financing platform in an orderly manner. Strengthen the construction of financial stability guarantee system.

　　The report believes that the strategic opportunities and risk challenges facing China’s current economic development coexist. The kinetic energy of global economic recovery is divided, uncertainties such as monetary policy adjustment and geopolitical conflicts in developed economies still exist, and the domestic economy continues to pick up and still faces many challenges. We should also see that China’s stable economic foundation, many advantages, strong resilience and great potential, a good start and a good recovery are the basic characteristics and trends of the current economic operation, and we should enhance our confidence in doing a good job in economic work. In the next stage, the People’s Bank of China will maintain the stability of monetary policy, enhance the consistency of macro-policy orientation, strengthen countercyclical and cross-cyclical adjustment, increase support for the real economy, and effectively consolidate and enhance the positive trend of economic recovery.

　　A prudent monetary policy should be flexible, moderate, accurate and effective. Reasonably grasp the relationship between the two largest financing markets of bonds and credit, guide the reasonable growth and balanced supply of credit, maintain reasonable and abundant liquidity, and keep the scale of social financing and money supply matching the expected targets of economic growth and price level. Taking maintaining price stability and promoting moderate price recovery as an important consideration to grasp monetary policy, strengthening policy coordination and keeping prices at a reasonable level. We will continue to deepen the interest rate marketization reform, give play to the role of the loan market quotation interest rate reform and the deposit interest rate marketization adjustment mechanism, and promote the steady decline of corporate financing and residents’ credit costs. Adhere to focus, reasonable and moderate, progress and retreat, and provide effective support for key areas and weak links such as inclusive finance, scientific and technological innovation and green development. Smooth the transmission mechanism of monetary policy and avoid the idling of funds. Adhere to a managed floating exchange rate system based on market supply and demand, with reference to a basket of currencies, give full play to the decisive role of the market in exchange rate formation, comprehensively implement policies and stabilize expectations, resolutely correct procyclical behaviors, prevent the market from forming unilateral expectations and strengthen itself, resolutely guard against the risk of exchange rate overshoot, and keep the RMB exchange rate basically stable at a reasonable and balanced level. Continue to effectively prevent and resolve risks in key areas, and resolutely hold the bottom line where systemic risks do not occur.

　　(CCTV reporter Zhang Daofeng)

Beijing Fangshan District Environmental Protection Bureau has taken various measures to comprehensively improve the supervision level of off-road mobile machinery.

　　The team directly under the Eco-environmental Law Enforcement Detachment of Fangshan District Environmental Protection Bureau in Beijing went to Jingjiangshun Logistics Park to distribute the publicity materials of subsidy policy for the elimination of old diesel vehicles in Beijing to promote and encourage car owners to speed up the elimination of old diesel vehicles.

　　In order to defend the blue sky and reduce the pollution caused by off-road mobile machinery, Fangshan District Environmental Protection Bureau of Beijing has strengthened the supervision of off-road mobile machinery in combination with the characteristics of its jurisdiction.

　　It is understood that off-road mobile machinery has the characteristics of strong mobility, short working cycle, irregular working hours and places, wide range of use and serious excessive exhaust emissions. Because the off-road mobile machinery is old and the oil is inferior, it pollutes the environment seriously. According to statistics, most of the tractors currently in use are diesel vehicles with the standard of "National III" or below. Under the same circumstances, the particulate matter emission (including PM10 and PM2.5) from the exhaust gas of a single tractor and combine harvester is about 90 to 120 times that of the cars in use.

　　The team directly under the ecological environment law enforcement detachment of Fangshan District Environmental Protection Bureau in Beijing inspected the forklift exhaust emissions of Hailiangtong Logistics Park.

　　In order to further promote the prevention and control of air pollution and improve the regional environmental quality, Fangshan District Environmental Protection Bureau of Beijing has taken many measures simultaneously, taking the inspection of off-road mobile machinery as one of the key tasks this year, and constantly increasing supervision.

　　The first is to strengthen process supervision, hold a special work meeting for non-road mobile machinery in conjunction with various departments, and enterprises sign a letter of commitment to meet environmental protection standards to ensure that the emissions of non-road mobile machinery in use meet the standards. Establish and improve the ledger of non-road mobile machinery in various industries, check and register all non-road mobile machinery in the whole region one by one, and summarize the non-road mobile machinery such as excavators, bulldozers and loaders in the whole region every month as required, and establish and improve the dynamic management ledger.

　　Secondly, strengthen the standard inspection, conduct spot checks on the emissions of non-road mobile machinery, and continue to carry out special actions for spot checks in key areas to ensure that non-road mobile machinery meets the standard.

　　The third is to strengthen joint law enforcement, jointly with Beijing Fangshan District Transportation Bureau, Beijing Fangshan District Housing Construction Committee and other departments to carry out joint law enforcement actions against construction sites, logistics parks and other enterprises in the whole region by means of home inspection. Up to now, Fangshan District Environmental Protection Bureau of Beijing has dispatched more than 686 law enforcement officers, inspected 749 off-road mobile machines, and filed a case for punishment on 256 machines with excessive emissions, with a fine of 1.28 million yuan, ranking second in all districts of the city.

　　The team directly under the ecological environment law enforcement detachment of Fangshan District Environmental Protection Bureau in Beijing went to the person in charge of Beijing No.2 Machine Tool Works Co., Ltd. to distribute the publicity materials of subsidy policy for the elimination of old diesel vehicles in Beijing to publicize and encourage car companies to speed up the elimination of old diesel vehicles and replace them with clean energy vehicles.

　　Finally, Fangshan District Environmental Protection Bureau also strengthened publicity and guidance, and actively carried out publicity work in accordance with the relevant requirements for delineating areas where high-emission off-road mobile machinery is prohibited. Up to now, more than 3,000 leaflets have been distributed to introduce relevant policies and emission standards to enterprises, prompting enterprises to speed up the elimination of high-emission old off-road construction machinery, replace up-to-standard machinery or use clean energy vehicles, and strive to strengthen the supervision of off-road construction machinery in the whole region.

　　In the next step, Fangshan District Environmental Protection Bureau will continue to strengthen the supervision of off-road mobile machinery in the whole region according to the relevant requirements in Fangshan District’s Air Pollution Control Action Plan "This Winter and Next Spring" to achieve accurate supervision of off-road mobile machinery. Supervise enterprises to use qualified machinery, put an end to excessive emissions, and ensure the continuous improvement of regional environmental quality.

　　Beijing Fangshan District Environmental Protection Bureau’s eco-environmental law enforcement detachment directly went to Beijing No.2 Machine Tool Works Co., Ltd. to inspect and test the off-road loaders in the factory.