What I bring to you today is a-. The following small series will tell you in detail.

Let’s take a look at the appearance of Arteon first. The front face of Arteon feels very stable and looks simple. The front headlights are very streamlined and look beautiful as a whole. The car is equipped with LED daytime running lights, automatic opening and closing, adaptive far and near light, automatic steering, delayed closing, rain and fog mode and so on. Coming to the side of the car, the body size of the car is 4866 mm * 1871 mm * 1447 mm. The car adopts solid lines, and the side gives people a very domineering feeling. With large-sized thick-walled tires, smooth lines run through the whole side of the car. Looking back, the rear of the car echoes the front face, the taillights are very round, and the overall shape is still very attractive.

Coming into the Arteon car, the Arteon interior looks very dynamic and easily touches the hearts of young consumers. The steering wheel of the car is very in line with the interior style, and it is made of genuine leather. Everything looks very cold. Take a look at the central control, with a 9.2-inch central control screen, which makes the interior style impressive, and the details are still in place. Let Xiaobian introduce the dashboard and seats. The car is equipped with a simple and generous dashboard, which looks simple and fashionable. The car uses leather seats, which are wide and thick, and the overall comfort is good.

Arteon is matched with a wet dual clutch (DCT) gearbox, with a maximum power of 140KW and a maximum torque of 320N.m, and the power performance is good.

Look at the configuration again. Arteon is equipped with driving mode selection, remote control key, rear wiper, interior atmosphere light, engine start and stop and other configurations.

What’s your main impression of this car after reading the whole article? The moderate size of the car is a very suitable choice for many families, and the internal space is enough for daily use in families.

On July 16th, famous writer Cha Jianying and critic Huang Ziping held a talk on "Advantages and pitfalls of cross-context/cross-regional writing" at the Hong Kong Book Fair. Over the years, Cha Jianying said frankly that it is very natural and unrestrained. In fact, the process is full of painful entanglements and doubts, and it is necessary to constantly adjust and learn.

Going to America: People don’t know what they look like until they look in the mirror.

Cha Jianying studied in Peking University, the University of South Carolina and Columbia University from 1978 to 1987, and returned to China in 1987 and the United States in the 1990s. In 2003, he won the Guggenheim Writing Fund of the United States and returned to China. The experience of constantly traveling in different countries has formed her unique experience of "cross-regional" writing. She is not only good at writing in Chinese, but also good at writing in English. She once wrote for The New Yorker magazine, and her long-term English writing experience gave her a unique perspective of writing across contexts.

Cha Jianying summed up that in addition to cross-regional and cross-context, he actually experienced a cross-stylistic writing transformation, from the initial novel writing to the current documentary style. For example, "Interview in the 1980s" and "Wandering in the Tide" have attracted wide attention at home and abroad. Looking back on his experience in these years, Cha Jianying said that he went to the United States before he was 22 years old, and he has been wandering between the two countries since then. Although he wrote in English, the core problem he dealt with was how to look at China and tell Americans the story of contemporary China. "People have to get out of the original area and look in the mirror before they know what they look like. What I didn’t expect at that time was that after this foot stepped out, it would affect how I look at China."

But the trap is that many Chinese are trapped in a context of "Little China" after going out. For various reasons, Cha Jianying went to a remote place in the United States. At that time, she could not speak a word of English, so she was very grateful to the visa officer. At that time, the visa officer talked with her for a few sentences and said, "I think they made a terrible decision.". At that time, when she heard this, her heart was half cold, but unexpectedly, his second half sentence was, "go ahead and good luck."

I was an early individualist, but I was still trapped in the 1980s.

At that time, there were almost no Chinese in the University of South Carolina in the United States, and it was almost cut off from China. At that time, her friends teased her and said, "Xiao Xiao, you are in Guizhou, the United States!" At first, American individualism and independent thinking had a particularly great influence on her. In the 1980s, she returned to Beijing to experience the "cultural craze" of that era, and then returned to the United States. "Speaking of it, I was an early individualist, but I was still trapped in the 1980s, and later I wanted to face it again."

After returning to the United States, I realized the importance of writing at a distance, which opened the writing from novel to documentary. "I began to reflect on the thick-line, elite-conscious, romantic and passionate writing in the 1980 s." In addition, I have seen some new news writing in the United States. Although it is a writer’s style, it is very calm and objective. It is represented by the style of The New Yorker that I began to learn. How important it is to keep a distance, be independent and consciously take a marginal position for writing, and professionalism has also inspired me a lot. It is important for both sides to constantly blend and reflect. "

Wandering between the two countries, Cha Jianying admits that every time he returns to Beijing, he is in a tangle of "distance can’t be opened". "I am completely two people in English and Chinese, especially twisting the bar, and returning to my mother tongue is immediately a kind of love and hate, and distance can’t be opened. The United States is like a place where I recuperate. I can retreat and distance myself. "

Experience of The New Yorker: Write it down and write it without passion.

Over the years, non-fiction writing has begun to rise, and reportage has declined. Cha Jianying is also particularly opposed to including his own works in reportage. "Reportage has a pattern, which is linked with a grand narrative, with a very passionate and subjective will, a broad vision, a high moral level and a literary passion. I write a report, not a literature or a literary report." She cited the editor of The New Yorker and her own experience as an example. "He said that you are a good writer, but you must pay attention to it: write it down and write it without passion. They always think that what I write is special literature. "

In addition, a Hong Kong friend reminded her to change her narrative style. "He said that passion is like a faucet. After the faucet is turned too big, it splashes everywhere. It is necessary to screw it down, not big, but accurate. Just like the traditional saying in China, the golden mean is misunderstood as having no edges and corners, but it is not the case. I have to keep reminding myself to wring the water dry. "

In Cha Jianying’s documentary style, repeated "conversations" and infinite "conversations" have become one thing in common. She said, "I am the kind of nature that delves into the dead end, and the other is professionalism. I want to see all aspects of a person. Those who love him and those who hate him, you have to listen to both sides to get the truth. It is absolutely impossible for" Frolic in the Tide ". These characters in the book are all overwhelmed. Although they are glamorous on the surface, this is real life. "

Today’s era: under the surface of extremely rich information, there is real poverty and homogenization.

Some readers suggested that Cha Jianying was not so handy when writing about entrepreneurs in "Wandering in the Tide". She said frankly, "Entrepreneurs are another kind of animals. I have been thinking that if I only write about familiar people-intellectuals, there is a limitation. I am not good at writing about people in small towns, workers and migrant workers. I didn’t write them, but there are some entrepreneurs in the city, or people I can associate with. It is also many times.

In the writings of Habermas and Benedict Anderson, the so-called "community" comes from "conversation". The two guests laughed and said that today we "have no conversation, only WeChat". Cha Jianying believes that in Anderson’s view, the establishment of civil society used to be through various means and methods, such as the establishment of a national museum to preserve the memories provided by the public. Habermas believes that cafes also have the same function. But in her view, today, that era is disappearing. "The new era brings new confusion. Under the surface of extremely rich information, there is real poverty and homogenization, and there is a lack of real community. How to re-establish it is a very difficult problem. I just recorded how some individuals face this era. "

On February 6th, Lei Jun, founder, chairman and CEO of Xiaomi, announced yesterday: See you at the end of the month for the two Ultras that everyone expects, Xiaomi 15 Ultra and Xiaomi SU7 Ultra.

Wei Siqi, general manager of Xiaomi’s mobile phone marketing department and deputy general manager of Xiaomi’s automobile marketing department, revealed today that Xiaomi Automobile has arranged a brand-new exclusive product expert for SU7 Ultra.Ultra Master」。 She said that experts know a lot about cars, and many of them are drivers who often run the track.

According to a report by IT House yesterday, Lei Jun revealed more details of SU7 Ultra in Weibo: for the new car color matching, he said "there are five colors"; In response to a blogger who said that the logo turned into carbon fiber+gold, he replied "This is gold". In addition, Lei Jun also said that the goal of Xiaomi SU 7 Ultra is 10,000 vehicles.

1905 movie network news A few days ago, a sci-fi comedy starring Wang Yitong, Jiang Qiming and Sheng Chenchen was released "Are you kidding the universe?" Version of the preview and finalized poster is scheduled to be released nationwide on April 1, 2023. This word-of-mouth masterpiece, which detonated the fans’ group, announced that it would "see you in the cinema" with the audience, and at the same time asked "Are you kidding the universe?" The sense of humor is full in an instant, and the humorous temperament of joy and relaxation is vividly portrayed.

The film Cosmic Exploration Editorial Department has won many awards at Pingyao International Film Festival and Beijing International Film Festival before, and was shortlisted for Rotterdam International Film Festival. It is hard to get a ticket in the screening of major film festivals. This time, the audience unanimously applauded and expressed their impatience to get into the cinema and get a sneak peek.

The detailed poster highlights the temperament of sci-fi films, and the creative preview is full of humorous style.

The film Cosmic Exploration Editorial Department tells the story of Tang Zhijun (Yang Haoyu), editor-in-chief of Cosmic Exploration, a sci-fi magazine, who has been obsessed with finding extraterrestrial civilization for decades. One day, he received an abnormal signal that was suspected to come from the depths of the universe, so he called we are both unhappy — to the sky’s end’s partners, and once again set foot on the story of searching for aliens with that question that puzzled him all his life.

There are many details of the film plot hidden in the released materials. The finalized poster seems absurd, but it is actually intriguing: the main body of the picture is a donkey attracted by carrots. On the back of the donkey, a group of people from the "Cosmic Exploration Editorial Department" are marching forward under the leadership of editor-in-chief Tang Zhijun. The detector in Tang Zhijun’s hand seems to have received the signal of alien civilization, but this signal, like the carrot in the donkey’s eyes, may be true or illusory. There is a "universe" hidden in the negative space inside the donkey, and the journey of Tang Zhijun and his party has also encountered countless adventures here: a TV set with a full screen in Xue Huadian, helpless astronauts, a box with the words "cosmic merit box" written on it, teenagers wearing aluminum pot, and strange means of transportation, etc. … … Many details of the poster are full of imagination, which indicates that this "space exploration" trip is bizarre and interesting.

At the same time, "Are you kidding the universe?" The preview of the film is full of humor in a unique way, which makes people laugh. The whole trailer restored the style of TV advertising in the 1980s and 1990s, and elements such as TV, astronaut and cosmic merit box appeared in the finalized poster. Careful viewers can also find more surprise details such as editorial board, alien model, and a lonely "poor saint" … … All this was sucked into a huge cauldron. With the magical female voice recommendation: "large-scale domestic color wide-screen feature film", it makes people curious about the story that happened in the film, and will even "see you in the cinema on April 1!" Keep it firmly in mind. At the end of the trailer, the sentence "Are you kidding the universe?" Combined with the schedule of April 1, it gives birth to a very natural and advanced sense of humor. The whole trailer seems simple and light, but in fact, based on Vintage style, it makes clever and effective use of Glitch Art and Psychedelic Art, and creatively deconstructs and reorganizes the film elements, which can be described as unique. Combined with the super-high score of "Cosmic Exploration Editorial Department" in Douban Platform 8.7, such a "The masterpiece of the year is even more curious.

Young director’s feature film debut won many awards, and the core team escorted it.

Directed by Kong Dashan, a young director, Cosmic Exploration Editorial Department won unanimous praise from the audience, judges, peers, film critics and media at the Cosmic Premiere held in Pingyao in 2021, and became the most eye-catching film in Pingyao Film Festival. In the end, "Cosmic Exploration Editorial Department" lived up to expectations, and won the Fei Mu Award for Best Film, Youth Review Award for Film, Movie Selection Award and the most popular film award of the Tibetan Dragon Unit, which was the most important, and became the biggest winner. Frant Gwo, one of the film producers and director of The Wandering Earth, praised the film "Exploring another possibility of China science fiction movies!" Since then, Cosmic Exploration Editorial Department has won many awards at home and abroad, such as Rotterdam International Film Festival, Beijing International Film Festival and Hong Kong International Film Festival. Yang Haoyu and Ai Liya, the film’s leading stars, also won the best actress awards in the 12th Beijing International Film Festival and the 46th Hong Kong International Film Festival Rookie Film Competition respectively for their outstanding performances.

In addition to the outstanding performance of young filmmakers, the success of Cosmic Exploration Editorial Department is also inseparable from strong behind-the-scenes support. Cosmic Exploration Editorial Department is escorted by The Wandering Earth’s core team, and this film is jointly produced by the famous screenwriter Wang Hongwei, who is known as the "screenplay textbook", and the director Frant Gwo, who is known as the "helmsman of China science fiction movies". Cosmic Exploration Editorial Department is different from the sci-fi genre film in the general sense. It is a mixture of absurdity, black humor, road films and other elements, and tells the ideal lamentation of ordinary people in a rare expression form, leading the audience into a vast and affectionate spiritual world. As an extremely eye-catching attempt of Chinese film, Cosmic Exploration Editorial Department received the full support of two producers at the beginning of its creation. Kong Dashan, the film director, said in an interview: "In fact, this story is difficult to imagine through words in the script stage, what form it is. Director Frant Gwo, Mr. Wang Hongwei, and all the other masters, even myself, have no idea. But they still helped me realize this thing without hesitation. "

The film "Cosmic Exploration Editorial Department" was produced by Wang Hongwei and Frant Gwo, directed by Kong Dashan, starring Yang Haoyu and Ai Liya, and starring Wang Yitong, Jiang Qiming and Sheng Chenchen. The movie will be released nationwide on April 1st. Let’s see if this wave of word-of-mouth masterpieces is "what a cosmic joke"!　

The requirement for people to buy a car now is not only comfortable, but also other aspects such as configuration, power, materials and workmanship are important reference factors. What I bring to you today is a-. Next, let’s see if its highlights can attract you with Xiaobian.

Let’s take a look at the appearance of Hongqi Guoyao first. The front of Hongqi Guoyao is flamboyant and looks sharp. With headlights, the shape is very elegant. The car is equipped with LED daytime running lights, automatic opening and closing, delayed closing and so on. Come to the car side, the car body size is 5695MM*2095MM*1985MM, the car uses solid lines, the car side gives people a very fashionable and atmospheric feeling, with large-size thick-walled tires, the shape is quite simple. In terms of the rear end, the overall shape of the rear end echoes the front face, and the taillights are very exquisite. Coupled with the unique exhaust pipe, the overall shape is still very eye-catching.

Sitting in the car, the interior design is very unique, which is consistent with the positioning of the car. The steering wheel of the car is well designed and made of genuine leather, which gives people an impulse to control it. From the central control point of view, the central control screen with 12.3-inch touch-sensitive LCD makes the interior design layered and looks young. Let’s take a look at the dashboard and seats again. The dashboard design is remarkable, and the shape takes the movement route. The car uses leather seats, equipped with auxiliary seat with memory electric adjustment, seat with memory electric adjustment and other functions, and the overall ride feels soft and comfortable.

Hongqi Guoyao is matched with an automatic manual transmission (AT) gearbox, with a maximum power of 265KW and a maximum torque of 500N.m, and its power performance is good.

In terms of functional configuration, Hongqi Guoyao is equipped with car networking, driving mode selection, remote control key, rear wiper, interior atmosphere light and other configurations.

The moderate size of the car is a very suitable choice for many families, and the internal space is enough for daily use in families. Today, you can go to the 4S shop to experience this car.

1905 movie network news　In recent days, the film released a new preview, vividly setting out the fierce confrontation at the negotiating site. On one side is Zhuo Wenwei, the daring kidnapper who kidnapped the police with a gun, and on the other side is Xie Jiajun, a negotiator who strives for a peaceful solution.The limit between experts is pulled, and the opportunity is fleeting. Between the concessions and confrontations between the two of you and me, the situation is getting more and more confusing.movie"Negotiators"Produced by producers, writers, directors, and lead actors, it will beOn May 24/25/26, it will be released nationwide on June 8. The film has been pre-sold. Looking forward to seeing you on the big screen!

A bandit with a venomous tongue meets an expert’s mouth

Liu Qingyun and Wu Zhenyu are masters

In the "Extreme Pull" version of the trailer released by the movie "Negotiator", the "arrogant" kidnapper Zhuo Wenwei was also once in a dilemma of lack of power supply and food, and had to exchange hostages. Another negotiator, Xie Jiajun, used his unique negotiation skills to stabilize Zhuo Wenwei, who was increasingly out of control. When the rhythm was interrupted by the sudden action of the police, he was also able to regain the initiative with ease.Faced with the unexpected situation, the two experts are working hard to control the situation, and the different styles of negotiation have also turned the originally thrilling kidnapping case around.

As the preview showed, Zhuo Wenwei, a police officer turned kidnapper, was mostly surprised, and Liu Qingyun also revealed that "Zhuo Wenwei can boldly push things to a very marginal and dangerous situation. He will choose a very risky way to solve the problem that no one can predict."In Wu Zhenyu’s words, "Life and death are more important than right and wrong. Xie Jiajun doesn’t want anyone to die, so the judgment of right and wrong can be handed over to the court." When the two negotiators with different ideas and styles meet, the thrilling police station kidnapping case will surely usher in an extraordinary end!

"Negotiator" is on ahead of schedule

The Dragon Boat Festival sees a different police story

For the director Qiu Litao, "Negotiation Expert" is one of the more unique films he has made. "The actors and I both need to create a tense atmosphere through conversations and other literary dramas, and we need to use our mouths to create suspense. From the beginning of filming, this film was completely different from a regular police and gangster film for me."

In the released materials of the film, it is also obvious that there are interesting plots that are different from previous Hong Kong films: kidnapping bosses, experts fighting each other, and leaders being deflated… In the tense and exciting main story, there are both light and humorous pictures, and I look forward to the main creator bringing a different police story!In the Dragon Boat Festival film, the movie "Negotiator" brings the audience an eye-catching effect from the story, theme, and cast. Whether it is professional attributes or a relaxed and exciting viewing experience, it is worth a visit to the theater.

1905 movie network news What was once widely known is going to cooperate with the director again. It is reported that he will join Rodriguez’s new film and restart the filming. Besides directing, Rodriguez will also be the screenwriter and producer of this film.

At present, in Hollywood, there are two versions of "Very Little Secret Agent" being produced. In addition to the movie version, there is also an animated series. Netflix is building a series of film and television dramas around this IP. The new film tells the story of the children of the world’s most powerful secret agent who inadvertently helped a powerful game developer release a computer virus, enabling him to control all technologies, leading them to become agents themselves to save their parents and the world. In terms of actors, besides the new Cotrona, there are Zachary Levi, Avery Calgani La and Connor Esteson.

There are four original "Very Small Agents" series, and the global box office has accumulated more than 550 million dollars. The first one was released in 2001, starring antonio banderas, carla gugino, alexa vega and daryl sabara. It tells that Gregorio and ingrid used to be the best agents in the world. They fell in love during a mission for hostile forces, and then they became married anonymously. A few years later, evil forces forced them to return to the rivers and lakes. Unexpectedly, they were kidnapped, and their children Carmen and Juni had to overcome many difficulties to save their parents and the world.

Economic Observer reporter Cai Yuekun 　"I don’t want it!" On June 6, Master Xi, who was in his fifties, spoke to reporters while driving a car online: a branch of a construction enterprise owed him more than 100,000 yuan, which has been more than ten years, and there is no hope of recovery.

Master Xi is an individual boss, who has long provided stone for the construction party. Nowadays, the whole industry is getting more and more depressed, and it is more difficult to get back the money for the construction enterprises. Using his spare time, Master Xi started a network car.

It is not only Master Xi who is difficult to collect debts, but also the construction industry in the upstream of individual enterprises is also bearing the burden that the accounts are increasingly difficult to recover after the advance payment for Party A..

According to the reporter’s incomplete statistics of listed construction enterprises in various provinces, by the end of 2022, the accounts receivable of Shanghai Construction Engineering had increased to about 62.489 billion yuan, accounting for 17.04% of the total assets; The accounts receivable of Chongqing Construction Engineering Co., Ltd. is 21.378 billion, accounting for 26.05% of the total assets; The accounts receivable of Anhui Construction Engineering Co., Ltd. is 36.191 billion yuan, accounting for 24.28% of the total assets & hellip; …

The rising accounts receivable, like a sword of Damocles, hangs over the heads of construction enterprises.

Li Chuan, who works in a large construction enterprise, has a deep understanding of this: "For construction enterprises, although accounts receivable are hard to get, the current payments of small and medium-sized enterprises in the upstream and downstream cannot be defaulted, and the wages of migrant workers cannot be defaulted. Affected by the high pressure of accounts receivable, even some enterprises can’t rely on credit to support cash flow. "

After the accounts receivable are defaulted by Party A, it will cause some construction enterprises to default on suppliers and other payment. In addition, the reporter’s investigation found that there are also illegal subcontracting, subcontracting and other industry chaos in the construction industry, which makes the problem of "triangular debt" in the construction industry extremely prominent. "Triangle debt" is a "difficult hurdle" in front of many construction enterprises, which has troubled the healthy and benign development of the whole industry.

In addition, the level of accounts receivable of construction enterprises is also related to the customer’s region. Comparatively speaking, the state-owned construction enterprises in economically developed areas, such as East China, are relatively less dragged down by accounts receivable, while the state-owned construction enterprises in the central and western regions are relatively more dragged down by accounts receivable.

In Li Chuan’s view, construction enterprises work hard, hard and painful. The construction industry is not only a labor-intensive industry, but also an industry of national economy and people’s livelihood. Therefore, how to solve the problem of "triangle debt", how to achieve high-quality, healthy and long-term development, and how to solve the problem of settlement of accounts receivable of construction enterprises is imminent.

High accounts receivable

The high accounts receivable of listed construction enterprises has become a common problem in the whole construction industry.

In addition to listed construction enterprises in various provinces, the reporter noted that China Construction’s 2022 annual report also revealed that by the end of 2022, the company’s accounts receivable amounted to 210.43 billion yuan, up 27.5% year-on-year. The main reason for the increase was that the overall business scale increased and the volume of accounts receivable increased. Accounts receivable accounted for 7.93% of total assets.

Li Chuan said that accounts receivable mainly correspond to two types of customers: one is that accounts receivable are difficult to recover due to the increase in defaults of real estate customers in the past two years; The other category is government investment and construction projects, accounting for a higher proportion. Because there is no settlement for construction enterprises in the upstream, there are many problems such as wage arrears for migrant workers and supplier lawsuits.

For construction enterprises, accounts receivable are hanging high. On May 25th, relevant persons of Chongqing Construction Industry analyzed to reporters that the increase of accounts receivable of construction enterprises is closely related to the macroeconomic downturn, and the real estate market is depressed in the past two years, and there are many enterprises that have exploded, and real estate development is one of the important customers of construction enterprises. In addition, it is an indisputable fact that the macro-economy has been in a downturn in the past two years, and the accounts receivable of construction enterprises have increased significantly.

On May 25, Zhang Wen, an analyst with the rating department of CSI Pengyuan Industrial and Commercial Enterprise, told the Economic Observer that the construction market in China has continued to grow for a long time, and the phenomenon of capital construction is widespread in the industry, which makes a large number of accounts receivable in the accounts of construction enterprises, and its scale keeps growing with business expansion; In addition, in recent years, the deterioration of the liquidity of housing enterprises and the intensification of the contradiction between local government revenue and expenditure have also lengthened the payment cycle of construction enterprises.

Relevant persons from Shaanxi Construction Engineering told reporters that since its listing, the company has entered a stage of rapid development, and its operating income has achieved rapid growth, which has also driven the growth of accounts receivable. Although such projects generally have a long repayment period, many projects are mainly government and state-owned assets, and the repayment is guaranteed.

Viann, an analyst in the rating department of China Chengxin International Industrial and Commercial Enterprise, told the Economic Observer that the proportion of two funds in assets of construction enterprises is relatively high, and the high asset-liability ratio is also a common phenomenon in the industry. After the housing enterprises are out of danger, the bigger problems faced by construction enterprises are the problem of clearing debts and bad debts. How to recover and monitor the two funds during the follow-up project, how to prevent and control risks and reduce losses are difficult.

Real estate thunder drag

According to many investigations, the increase of mine explosion in real estate enterprises in recent two years has become one of the important reasons for the high pressure of accounts receivable in construction enterprises.

For example, on May 22nd, Duanheng Construction applied to Chongqing No.5 Intermediate People’s Court for reorganization of Jinke Real Estate Group Co., Ltd. (hereinafter referred to as "Jinke Shares", 000656.SZ). As a construction party, Duanheng Building is the corner where many construction enterprises recover debts from real estate enterprises.

According to Pengyuan’s credit data, in 2022, there were 27 new default subjects in the real estate industry, and the number of default bonds was 188, up by 125% and 176% year-on-year, accounting for 56.3% and 76.1% respectively, and the risks in the industry accelerated. According to overseas market data, after 2021, real estate enterprises have become the main risks in the overseas bond market, and the proportion of default subjects has increased significantly, accounting for 89% in 2022, up 34 percentage points year-on-year.

The default of housing enterprises also dragged down the accounts receivable of construction enterprises. For example, Chongqing Construction Engineering’s 2022 annual report shows that more than half of the customer names with bad debt provision are housing enterprises.

In addition, the 2022 annual report of Shanghai Construction Engineering pointed out that in 2022, the newly signed contract was 451.687 billion yuan, and the operating income was 286.037 billion yuan, an increase of 1.77% year-on-year; However, the net profit of returning to the mother was 1.356 billion yuan, a year-on-year decrease of 64.03%.

Regarding the reasons for the change in net profit, Shanghai Construction Engineering pointed out that the company was affected by force majeure factors, and the gross profit margin of construction business declined. Affected by the downturn of the real estate industry and regulatory policies, the gross profit margin of real estate development business has decreased, and some inventories have been depreciated by a large amount. The fair price of financial assets in hand fell.

In this regard, Viann said in an interview that it is true that some risks and financial pressures have been transmitted to the construction enterprises, but the overall impact is controllable. The construction enterprises that have undertaken more private housing projects are mainly affected, such as some private regional leading housing construction enterprises in Nantong, which are relatively deeply bound to Evergrande, resulting in their own liquidity risks.

Long cycle of state-owned accounts

In addition to being dragged down by the explosion of housing enterprises, the more important types of accounts receivable of construction enterprises at present are: government investment projects and state-owned enterprise investment projects, which are hard to become the pain that construction enterprises cannot express.

Li Chuan said frankly, "Now the payment cycle of state-owned enterprises or government projects is too long. At the same time, we can’t default on the payment of small and medium-sized enterprises, let alone the wages of migrant workers. In the middle, we can only squeeze our own profit margins. "

Li Chuan said that although there is less possibility of bad debts in accounts receivable of government investment projects, the time period will be longer. At present, there are many lawsuits in construction enterprises, most of which are accounts receivable disputes with private owners. For government investment projects, it is more reported to the SASAC through the group, and the SASAC coordinates the settlement of accounts receivable.

According to the disclosure of Shaanxi Construction Engineering’s 2022 annual report, the reporter found that there are mainly state-owned enterprises according to the accounts receivable of the top five at the end of the period. The details are as follows: Xixian New Area Qinhan New Town Development and Construction Group Co., Ltd., Xi ‘an International Football Center Operation Management Co., Ltd., Xixian New Area Fengxi New Town Development and Construction (Group) Co., Ltd., Xixian New Area Jiaotong University Science and Technology Innovation Port Development Co., Ltd. and Yan ‘an University. The ending balances of accounts receivable are 3.045 billion yuan, 2.141 billion yuan, 1.578 billion yuan, 1.332 billion yuan and 1.267 billion yuan respectively. Five entities account for 5.63% of the accounts receivable of Shaanxi Construction Engineering.

Although the account period of government investment projects and state-owned enterprise investment projects is long, for construction enterprises, such projects basically account for most of the company contracts.

According to the Chongqing Construction Engineering Annual Report, in 2022, the company continued to strengthen strategic marketing and deepen strategic cooperation with local governments, state-owned investment platforms and survey and design consulting units. In the whole year, 43.55 billion yuan of government and state-owned investment projects were newly signed, accounting for more than 59%.

In addition, the annual report of Shanghai Construction Engineering revealed that in 2022, the company signed a total of 451.687 billion yuan of new contracts, of which construction business and government investment projects accounted for 29%, an increase of 11 percentage points over the same period of the previous year; State-owned enterprise investment projects accounted for 55%, and the total ratio of the two reached 84%, which continued a good business pattern.

Regarding the problem that the account period of government investment projects and state-owned enterprise investment projects is too long, Zhang Wen told reporters that the main reason for the increase in the arrears of accounts receivable of construction enterprises in urban investment and PPP cooperation projects is the decline in land transfer income, tax reduction and fee reduction, which has increased the financial pressure on local governments and urban investment companies; Secondly, in recent years, the supervision of PPP projects has become stricter, and some PPP projects have hidden debt risks, which affects the timely payment of projects. For construction enterprises, this phenomenon undoubtedly increases the pressure of capital turnover, especially for construction enterprises located in weak areas.

Viann also told reporters that according to the investigation, the increasing financial pressure of some city investment platform companies has really impacted the repayment of construction enterprises. Construction enterprises generally encountered the situation that some government platform customers delayed the payment of the project funds, and the account period was lengthened as a whole. Even some city investment platform companies with weak qualifications and weak regions have begun to show arrears in the project funds or other default signals, especially for PPP projects and investment and financing construction projects with long cooperation periods. Most of them still rely on the payment mode of the government, but there are many influencing factors such as the change of government, the change of financial situation and the change of policy, and the uncertainty of payment is further increased.

"Construction enterprises should combine their own conditions and resources, take risk control as the bottom line, not blindly expand the scale of investment and financing projects, carefully select regions and owners, pay more attention to the source and availability of project funds, and strictly isolate risks from project companies to prevent risks arising from issues such as capital advance." Viann said.

Say "No" to the huge amount of money!

Another important reason for the high accounts receivable is that the "advance payment" of construction enterprises after undertaking projects belongs to the normalization phenomenon of the industry.

Li Chuan told reporters that it is convenient for a department project to ask: "Can it be funded?" If the contractor answers no, it may be difficult to take down the project.

Li Chuan said that because of the increasingly fierce competition in the construction industry, the cost of adding various materials and labor costs is also increasing. In this context, if construction enterprises frequently advance capital, it will greatly affect the company’s profit rate and other indicators, and compress the profit space of enterprises. Even if the enterprise lacks temporary working capital, huge accounts receivable may become the last straw to crush the normal operation of the enterprise.

A person in charge of the construction legal affairs department of a central enterprise once told reporters that the problem of advance payment is closely related to the business model formed by construction enterprises and developers for a long time. Private real estate enterprises have exploded one after another, and the macro-environmental impact of the overall real estate industry has been superimposed, which has affected the recovery of accounts receivable of construction enterprises. Some private construction units such as Nantong Liujian even went bankrupt and reorganized because of debt problems.

With regard to the advance payment in the construction industry, Zhang Wen told reporters that the project owners (local governments, state-owned enterprises and real estate developers, etc.) have the demand for advance payment for construction due to the consideration of capital turnover and scale expansion, while the threshold of the construction industry is low, the degree of homogenization of enterprises is high, and the competition is fierce, forcing construction enterprises to make concessions through payment terms to undertake projects.

Viann told reporters that, on the whole, for most enterprises, the problem of advance payment is still within the tolerable range, and the profit growth and financing channels are relatively smooth, which can cover some related losses. Enterprises with strong financial strength will have more obvious advantages in project contracting, and enterprises with weak financial strength may lose opportunities in project expansion, or they may be gradually eliminated due to the untimely collection of accounts, and the Matthew effect of the industry will be further highlighted.

The chaos of subcontracting still exists.

Behind the problem of "triangular debt" in the construction industry, it is closely related to the chaos of illegal subcontracting and subcontracting in the construction industry.

Li Chuan told reporters that illegal subcontracting in the construction industry still exists, but it is relatively formal for state-owned enterprises, and some private construction enterprises subcontract more.

The reporter noted that on January 3, 2019, the Ministry of Housing and Urban-Rural Development issued the Notice on Printing and Distributing the Administrative Measures for the Identification, Investigation and Punishment of Illegal Acts in Construction Project Contracting and Contracting, which regulates the contracting of projects by the construction unit to individuals and the contracting of projects by the construction unit to units without corresponding qualifications.

Li Chuan said that at present, the management of project subcontracting is becoming stricter and stricter in the country, so enterprises themselves will pay attention to avoiding risks in this respect.

Secondly, talking about subcontracting, Li Chuan said that adopting subcontracting system is a common phenomenon in the construction industry. For example, after a construction enterprise bids for the project, it cooperates with many downstream subcontractors through market competition. In addition, part of the cooperation is with labor service companies. In the process of cooperation with labor service companies or subcontractors, the payment method depends on how the contract is agreed. For example, according to the progress of the project, when Party A pays a certain percentage to the construction enterprise, the construction enterprise will also pay a certain percentage of the project payment to the labor service company according to the time node agreed in the progress of the project. "But in general, when the project is completed, the construction enterprise must settle the arrears of the labor service company. Because labor service companies also have to pay wages to migrant workers. Therefore, when Party A is in arrears with accounts receivable for a long time, for construction enterprises, it is necessary to pay the funds of the labor service company, and sometimes it is necessary to borrow money to alleviate the financial pressure. " Li Chuan said.

Li Chuan said that for some construction enterprises, when the scale of accounts receivable reaches a certain level, faced with a large number of Party A’s inability to pay in time, there may be a large number of arrears owed by labor service companies or subcontractors, which is also one of the reasons for a large number of "triangular debts" in the construction industry.

Li Chuan said that in terms of specific construction, in the 1990s, enterprises generally managed their own construction employees, and then subcontracting gradually appeared, separating the labor service layer from the management layer, and pushing the labor service layer to the social level for cooperation. However, twenty years later, many construction enterprises began to set up their own labor industrial parks, and employees were paid by enterprises, so the project construction was not carried out through subcontracting, so as to avoid risks caused by subcontracting cooperation in the later stage.

Strain over the hurdle

"Triangle debt" has also become a difficult hurdle for many construction enterprises.

On June 8, a construction enterprise executive told reporters that the biggest problem facing the company at present is that the money for government projects will not come back, and it has to be funded to continue to take over the project. The advance funds for individual projects are also borrowed from banks.

State-owned project accounts will become the "last straw" to crush enterprises? Construction enterprises should pay enough attention to the problem of difficult accounts for state-owned projects.

For how to reduce the problem of accounts receivable from the source, some construction enterprises have adjusted their business ideas.

The relevant person in charge of the above-mentioned Chongqing Construction Engineering told reporters that at present, when a new project is accepted, it will be judged whether the project can be accepted according to the expected profit of the profit project and the fund planning of the project. If the advance payment is too high, many projects may be rejected internally and no longer participate in the competition. At present, the company’s business philosophy is that projects that have no expected profits or need huge advances will no longer participate.

"Because the market construction industry is not good, although a large number of projects regardless of cost will be beneficial to the company’s scale expansion, it will have an impact on the risk control and quality development of enterprises. Therefore, for projects that require huge advances, new projects are not accepted now. " The source said.

Li Chuan also said that the company began to be very cautious about the management and control of real estate. There are prudent principles when choosing the source, such as real estate development in first-tier cities.

At the same time, Li Chuan said that the company is constantly stepping up the collection efforts, generally adopting hierarchical promotion. From the group to the responsible department of the company, there are certain planned tasks to pay off debts every year, so as to increase the collection efforts of accounts receivable in an all-round way. For some accounts receivable with bad debts, the company also communicates with Party A to relieve the pressure of accounts receivable through litigation, debt in kind, creditor’s rights replacement and other ways.

The reporter noted that the policy level has also been concerned about the arrears of project funds in the field of engineering construction. For example, the Regulations on the Protection of Wage Payment for Migrant Workers (Order No.724 of the State Council), which came into effect on May 1, 2020, has made relevant provisions on the punishment responsibility of the construction unit for implementing the construction funds, failing to implement the project payment guarantee, and the responsibility for paying off wages.

Many construction enterprises also told reporters that the problem of huge accounts receivable should be treated from the source. For example, we should strengthen the standardized management from the source for the policy norms of the construction enterprise’s advance payment problem.

Viann told reporters that under the current market situation, construction enterprises should first change their business ideas, focus on high-quality development, stop blindly expanding their business scale, and put more emphasis on how to realize new contracts with income, profitable income and cash flow profits.

Viann believes that "nowadays, construction enterprises generally pay more attention to the risk control of the front-end and marketing end, such as strengthening the role of pre-evaluation of projects, strengthening due diligence on owners, and implementing business terms in detail, so as to provide a contractual basis for future settlement payments and grasp risks from the source. In addition, in the middle and back end, we should also strengthen the control of the whole process of the project, so that we can monitor the related risks in the process of project implementation in real time and make a good plan. The collection and management of "Two Funds" are no longer just considered by the Finance Department and the Treasury Department, but need the full cooperation of the departments such as market, risk control, fund, project management, finance and risk control, and all of them pay more attention to it. It is suggested that the proportion of the pressure drop of "Two Funds" in the assessment index can be increased, and the target responsible person should be implemented and the relevant rewards and punishments should be given to the collection tasks such as the payment of completed projects, the payment of projects under construction, and the expected bad debts but the collection realized.

(At the request of the interviewee, Li Chuan is a pseudonym in the article.)

　

　　January 4, 2021 0— At 24: 00, there were 14 new confirmed cases of local COVID-19 in Hebei Province, of which 11 cases were reported in Shijiazhuang City (2 cases were asymptomatic infected persons turned into confirmed cases) and 3 cases were reported in Xingtai City (1 case was asymptomatic infected persons turned into confirmed cases). 30 new cases of asymptomatic local infections were reported in Shijiazhuang.

　　The situation of epidemic prevention and control in Shijiazhuang is suddenly grim. On the evening of January 5th, Shijiazhuang held a press conference on epidemic prevention and control in COVID-19 to inform the latest situation of epidemic prevention and control. At the same time, News 1+1 also connected Feng Zijian, deputy director of China CDC, to interpret the epidemic situation in Hebei.

　　A total of 52,784 samples of nucleic acid were detected in Shijiazhuang.

　　At the press conference of epidemic prevention and control work in Shijiazhuang, Wang Jianfeng, spokesperson of Shijiazhuang Municipal Government, said that from January 2 to 4, there were 14 confirmed cases and 40 asymptomatic infected people in Shijiazhuang, all of whom were treated in municipal designated hospitals, with no critical cases and no deaths. Shijiazhuang went all out to do emergency treatment, nucleic acid detection and epidemic control, and tried its best to control the epidemic in the smallest area.By 24: 00 on January 4th, 52,784 people had been tested for nucleic acid.

　　There are no critical cases in Shijiazhuang at present.　Nucleic acid detection for all staff from 6th.

　　Wang Jianfeng also introduced that from January 2 to 4, 2021, 14 cases of COVID-19 confirmed in Shijiazhuang were treated in municipal hospitals. There were no critical cases and no deaths.

　　The city has expanded the scope of nucleic acid detection to about 400,000 people in six towns and cities in the north of Gaocheng, and carried out nucleic acid detection for 200,000 people in some villages in Zhengding County and Wuji County of Xinle City adjacent to Zengcun Town.Tomorrow (January 6), the rest of the population in Gaocheng District will be tested for nucleic acid., to ensure that the nucleic acid detection should be done, not missing one household, not leaving one person. Take prompt measures for those who are found to be positive. At the same time, the whole staff will be fully tested for nucleic acid in Shijiazhuang tomorrow, so as to ensure early detection, early reporting, early isolation and early treatment, and quickly cut off the transmission route of the epidemic.

　　The epidemic in Shijiazhuang showed the characteristics of family aggregation.

　　Lu Fei, director of Shijiazhuang CDC, introduced at the press conference that this epidemic hasThere are many diseases and family aggregation.Characteristics, a large number of cases appeared in a short time.

　　Hebei sent the throat swab sample of the first confirmed case to CDC for sequencing and tracing to determine the source of infection.

　　Lu Fei, director of the Center for Disease Control and Prevention in Shijiazhuang City, said that the traceability work has been further strengthened. The throat swab sample of the first confirmed case has been collected and sent to the China CDC for whole gene sequencing. At the same time, the relevant departments are combined to use technical means to try to track and determine the source of infection as soon as possible.

　　Closed-loop control of all communities and rural areas in Shijiazhuang

　　On the 5th, Shijiazhuang City held a working meeting to deal with the COVID-19 epidemic.

　　The meeting pointed out that,It is necessary to implement closed-loop control over all communities and rural areas in the city, quickly formulate holiday plans for all kinds of schools in the city, strictly control gathering activities, and resolutely avoid gathering together.It is necessary to strengthen the control of crowded places such as passenger stations, farmers’ markets, large supermarkets, hotels and restaurants, strictly implement measures such as registration management, wearing masks, temperature detection, disinfection and ventilation, and do a good job in the whole process management of cold chain logistics to ensure foolproof.

　　All primary and secondary schools and kindergartens in Shijiazhuang suspended offline education and teaching.

　　According to the WeChat WeChat official account news released by Shijiazhuang Education, according to the current epidemic prevention and control situation in Shijiazhuang, after research, all teachers and students of day schools (kindergartens) will not return to school from January 6, 2021; All boarding schools will be fully enclosed from January 6, 2021; Since January 6, 2021, semi-boarding schools will not return to school for the time being, and boarding students will be fully closed.

　　Covid-19 in Shijiazhuang is still imported from abroad and is highly homologous to Nangong in Xingtai.

　　On January 5th, in the column "News 1+1", Feng Zijian, deputy director of China CDC, said that the virus infected with the confirmed cases in Shijiazhuang was not native virus, but was still imported from abroad, probably imported from Europe. At present,The transmission of Shijiazhuang virus is highly homologous to Xingtai Nangong.The case in Nangong City has epidemiological connection with the case in Shijiazhuang, which may be caused by a virus transmission. The number of patients is still increasing, indicating that the virus has been secretly spreading for some time.

　　The experts from CDC and National Health Commission have arrived in Shijiazhuang and Xingtai.

　　Feng Zijian introduced,The expert group of China CDC and the high-level expert group of National Health Commission have arrived in Shijiazhuang and Xingtai.. At present, the cases are concentrated in Gaocheng District of Shijiazhuang City and Nangong City of Xingtai City.