On December 1, the awarding ceremony of Nanchong Research Center of Modern Silk National Engineering Laboratory of Soochow University was grandly held in Beihu Hotel. Lu Jianmei, Vice President of Soochow University, Chen Fang, Deputy Director of the Provincial Department of Science and Technology, Feng Bin, Member of the Standing Committee of the Municipal Party Committee and Secretary of the Municipal SASAC, Fu Lunjia, Deputy Director of the Municipal People’s Congress, Zhu Jiayuan, Deputy Mayor, and Feng Qingyu and Wang Xingzhao, Vice-Chairmen of the Chinese People’s Political Consultative Conference attended the awarding ceremony. The National Laboratory of Modern Silk, Soochow University, is the only national engineering laboratory in the silk industry in my country approved by the National Development and Reform Commission in December 2008. In August of this year, the Nanchong Municipal Government and Soochow University signed an agreement to establish the Nanchong Research Center of the Modern Silk National Engineering Laboratory of Soochow University in Yiger, our city. This is also the first branch of the laboratory in the country. The establishment of the research center has not only made new breakthroughs in the construction of the "production, learning, and research" mechanism of the silk industry in our city, and further accelerated the technological innovation and transformation of scientific and technological achievements in the silk industry in our city. Industrial transformation and upgrading and rapid and stable development play an active role.

On November 30th, a delegation of more than 30 people from Hangzhou Silk Industry Investment Investigation Delegation visited Xiushui. The participants included Zheng Yili, member of the Party Committee of Hangzhou Economic and Trade Commission, Fei Jianming, Chairman of Hangzhou Dali (China) Co., Ltd., and Hangzhou Jin Fuchun. The chairman of Silk Co., Ltd. Zhou Wenfeng and other well-known people and entrepreneurs in the silk industry, Song Zhilong, deputy secretary-general of Jiujiang Municipal Government, Tang Xiaorong, director of the Standing Committee of Xiushui County People’s Congress, deputy county magistrate Fu Jianshun, heads of sericulture and other related departments, silk enterprises Accompanying the inspection with representatives of cooperatives. The delegation inspected the silk floss production line and wide-width silk floss products of Xiushui Yiyi Industrial Co., Ltd. on the spot. At the symposium, representatives from all parties discussed the feasibility of the industrialization of the sericulture base in Xiushui County and the extension of the industrial chain, the feasibility of the joint reorganization of the Jiujiang silk industry and the Hangzhou silk women’s clothing industry, the local government’s policy support for the reorganization of enterprises, and the Twelfth Five-Year Plan The sericulture industry development plan and its steps and measures are discussed. Xiushui County is blessed with the natural conditions for the development of the sericulture industry. The sericulture industry has begun to take the shape of industrialization, and with the strong support of the government, it is a hot spot for investment and business development. Through this inspection, mutual understanding and exchanges will be enhanced, which will have a profound impact on the reorganization of the silk industry in Hangzhou and the development of the sericulture industry in Jiujiang Xiushui.

Since the country implemented the strategy of "Moving the Mulberry from the East to the West", the silkworm industry in Guangxi has developed rapidly. So far, the output of silkworm cocoons in Guangxi has exceeded 30% of the total output of the country. The industry has also developed rapidly, and silk reeling equipment has been using "second-hand goods" in the eastern region from the beginning, and now the equipment technology has been continuously upgraded, which has promoted the development of the "East Silk Move to the West". 　　 At present, most of the silk reeling enterprises above designated size in Guangxi are using the most advanced silk reeling equipment in the country, and they are no longer behind the old eastern silk areas in terms of machinery and equipment. But in terms of software, Guangxi silk reeling enterprises still have to introduce management and technical talents to Jiangsu and Zhejiang regions, while silk reeling equipment preservation talents, as well as talents in all aspects of the cocoon and silk industry. As the saying goes, "three points for machinery, seven points for maintenance", only by working hard to do a good job in the maintenance of silk reeling equipment and keeping the equipment in perfect operating condition can we give full play to the advantages of advanced equipment. The "Zhongjiang Textile Machinery Cup" 2010 National Textile Equipment Maintenance Professional Skills Competition final was held in Liucheng, Guangxi. It is of great significance to improve the technical level of Guangxi silk reeling equipment maintenance. Yang Hangjie, deputy general manager of Guangxi Rita Silk Industry Co., Ltd., analyzed the current production status of Guangxi silk reeling industry and found that Guangxi has the advantage of silkworm raw materials. The output and quality of raw silk have been continuously improved in recent years, but the raw silk produced in Jiangsu and Zhejiang is mostly Compared with 5 and 6A grade silk (type A silk), Guangxi is still dominated by 3 and 4A grade silk (type B silk), and the gap still exists. One of the biggest problems faced by Guangxi silk reeling enterprises is the lack of sufficient professional talents. Expert-level technical and management talents are even more scarce. The total quantity and quality are far from meeting the needs of the development of Guangxi silk reeling industry. 　　 Yang Hangjie said that in 2010, the "Zhongjiang Textile Machinery Cup" national textile equipment maintenance workers competed in Guangxi, which provided a good opportunity for Guangxi. From the perspective of enterprises, this competition first improved the reputation of Guangxi silk reeling enterprises and was a good opportunity for the whole country to understand Guangxi silk reeling enterprises. Secondly, through this platform, it provides a wider channel for Guangxi silk reeling enterprises to introduce talents. At the same time, through the expansion of exchanges, the improvement of the preservation level of local silk reeling equipment has been promoted. Li Chaosheng, deputy director of the National Cocoon and Silk Office, Yi Hui, chairman of the China Silk Association, and other leaders came to the final site to guide the work, showing that the silk management department and the association attach great importance to the preservation competition. The silk reeling enterprises in Guangxi have attracted great attention. They have carried out internal training and selection, and strived for employees with their own enterprises to participate in the national finals. The news that the first-placed contestants in the finals will receive the National May 1st Labor Medal has also made the companies technical The backbone is eager to try. The relatively young players are also a major feature of the Guangxi players in this competition. Although they may have a certain gap in experience with the players from the old silk regions in the east, I believe that through competition exercises and production practices, the new force of silk reeling equipment preservation will be better. Fast growth. In addition to the talent needs of Guangxi silk reeling enterprises, perhaps the "Zhongjiang Textile Machinery Cup" 2010 National Textile Equipment Maintenance Professional Skills Competition has also given Guangxi greater responsibilities. Production has also been declining. Without the support of raw materials, the sustainable development of local silk reeling enterprises has encountered a bottleneck. The important task of how to continue the silk reeling and even the development of the silk industry has naturally fallen on the emerging silkworm provinces in the west such as Guangxi. The "Zhongjiang Textile Machinery Cup" 2010 National Textile Equipment Maintenance Professional Skills Competition was successfully held in Guangxi. While Guangxi has a rare opportunity for the silk reeling industry, it has also begun to assume important responsibilities for the continuat

At the "Sixth China Commodity Market Summit" co-sponsored by the State Administration for Industry and Commerce and the People's Government of Zhejiang Province, Hangzhou China Silk City was named a "Provincial Key Market" by the People's Government of Zhejiang Province and became one of the 24 key markets in the province. After comprehensive research and assessment on market transformation, development and management, the selection will finally determine the latest batch of provincial key markets in 2010. In recent years, under the correct leadership of the district party committee and the district government, and with the active cultivation and strong support of the industrial and commercial departments, Hangzhou China Silk City has closely focused on the overall strategy of "promoting silk and building a capital of women's clothing". The goal is to create a "quality of life demonstration block", and on the basis of the provincial regional key market, increase the transformation and upgrading efforts, accelerate the pace of innovation and development, explore new trading models, actively develop online commodity transactions, and improve the level of circulation. The demonstration role has been further highlighted, the overall strength has been significantly enhanced, and efforts have been made to become Hangzhou's "tourism and shopping paradise".

The "13th Five-Year Plan" for sports development was announced, and the State Council deployed to promote the deep integration of manufacturing and the Internet. The announcement of these industrial economic policies provides new opportunities for the transformation and upgrading of the apparel industry. China Research Network News: The "13th Five-Year Plan" for sports development was announced. The State Council deployed to promote the deep integration of the manufacturing industry and the Internet. The announcement of these industrial economic policies provided new opportunities for the transformation and upgrading of the apparel industry. 3 trillion "big sports" market struck On May 5, the State Sports General Administration officially released the "Thirteenth Five-Year Plan for Sports Development", which determined the main goals for sports development during the 13th Five-Year Plan period. The plan pointed out that by 2020, the total scale of the national sports industry will exceed 3 trillion yuan, and the average annual growth rate of the added value of the sports industry will be significantly faster than the economic growth rate over the same period, and the proportion of GDP will reach 1%. The sports service industry The value-added accounted for more than 30%. Sports consumption accounts for more than 2.5% of per capita disposable income of residents. The plan stated that during the "13th Five-Year Plan" period, the mechanism for the coordinated development of sports and the economy and society needs to be further improved. The contradiction between the increasing diversity of the people, the multi-level sports demand and the insufficient supply of sports is still prominent. The overall size of the sports industry is small and the structure is not perfect. The proportion of sports service industry is low and the types are small. The new normal of economic development and the structural reform of the sports supply side have put forward requirements for the coordinated development of sports and economic society. As an emerging industry, a green industry, and a sunrise industry, the sports industry has the conditions and potential to become a new growth point for my country’s economic development in the future. The contribution of sports consumption to economic development will continue to increase. The development plan pointed out that the supply of sports products and services should be expanded to promote sports consumption. An important content is to adjust the structure of the sports industry, implement the sports service industry boutique project, the sports goods manufacturing industry innovation and upgrade project, and the sports industry integrated development project. Driven by key sports such as football and ice and snow, explore the industrial development path of sports. Guide and support the development of "Internet + Sports" and encourage the development of a sports life cloud platform and sports e-commerce trading platform based on the mobile Internet. In terms of cultivating the main body of the sports market, the plan stated that it is necessary to deepen the reform of sports state-owned enterprises and enhance the value of Chinese assets in the sports industry. Guide powerful sports companies to implement cross-regional, cross-industry, and cross-ownership mergers, reorganizations, and listings with capital as a link. Actively support overseas mergers and acquisitions in the sports industry, encourage qualified provinces and cities to set up special funds for sports development, and grant project subsidies and loan interest discounts to eligible enterprises and organizations. Interpretation: In the next 5 years and beyond, under the promotion of policies, the sports industry will usher in rapid development, and the market size will exceed 3 trillion yuan. This is a huge market capacity. The added value of the sports service industry accounts for more than 30%, which means that the sports industry is not just a "sports" industry, but also covers cultural consumption, spiritual consumption, sports tourism, sports life, sports e-commerce and other pan-industry chain nature The "big sports" industry is a symbolic cultural industry for the adjustment of the country's economic structure and upgrading to a service-oriented economy. The country has issued dividend policies for the sports industry many times before, and now it has specifically launched the 13th Five-Year Plan for the sports industry to vigorously promote the development of the sports industry and put forward clear policy guidelines. One of the important directions is to encourage capital to play a major role, implement cross-industry capital operations, and support the merger, reorganization, listing and overseas mergers and acquisitions of capital in the sports industry. For the apparel industry, not only sporting goods companies will usher in greater room for development, but also provide more opportunities for

On August 11, the 5th Shenghong National Printing and Dyeing Industry Management Innovation Annual Conference, sponsored by China Printing and Dyeing Industry Association and co-organized by Shenghong Group Co., Ltd., was held in Shengze Town, Wujiang District, Suzhou City. The original text of the speech by Sun Ruizhe, vice chairman of the China National Textile and Apparel Council, at the annual meeting of management innovation is as follows: We are in an era of change. Yesterday’s successful experience may be the rope that binds tomorrow. It may be an expired boat ticket. We can't engrave a boat for a sword;  The usual method in the past may be a bamboo basket for drawing water from a well. We can't ask for a fish.　　 The current situation requires us to be creative and never rigid.　　1. Management innovation is the only way to improve the quality and efficiency of the industry.  In recent years, China's textile industry has entered a new normal of development characterized by "speed change, structural optimization, and power conversion". The growth rate of the main indicators of the industry tended to be flat, and the development of the whole industry showed an L-shaped growth trend.　　 In the first half of this year, the industrial added value of the textile industry under national regulations increased by 6.5% year-on-year, a year-on-year slowdown of 0.3%, which was 0.2% lower than the national GDP growth rate and 0.5% higher than the national industrial added value. From January to June, the main business income of the textile industry under national regulations was 3346.24 billion yuan, an increase of 4.64% year-on-year, and the total profit realized was 169.04 billion yuan, an increase of 6.31% year-on-year. Costs and expenses continued to increase. Main business costs increased by 4.72% year-on-year, sales expenses increased by 4.27% year-on-year, management expenses increased by 5.09% year-on-year, and financial expenses decreased by 0.93. Although interest expenses fell by 7.18%, interest expenses were included in the three expenses. The proportion is only 14.56%, and the increase in overall costs is worthy of attention.　　 From January to June 2016, the fixed asset investment of projects over 5 million yuan in the printing and dyeing industry was 16.082 billion yuan, a year-on-year increase of 5.58%. The main business income of regulated enterprises was 175.525 billion yuan, a year-on-year increase of 2.19%; the total profit realized was 8.078 billion yuan, an increase of 10.37% over the same period in 2015, which to a certain extent reflects the effects of industrial upgrading, technological progress and management innovation in the printing and dyeing industry . The growth rate tends to be flat, and the industry maintains an L-shaped development trend. This is a direct result of sluggish domestic and foreign market demand, intensified competition among industry companies, increased resource and environmental constraints, and rising production factor costs. However, the deeper reason lies in the industry’s previous high growth process. The formation and accumulation of supply-side, structural, and systemic issues. To solve these development problems and realize transformation and upgrading, the industry needs to accelerate technological innovation and equipment upgrades to enhance the industry's hard power, and more urgently, it is necessary to deepen management innovation and explore management systems and management concepts that meet the needs of the industry and the times. , Management methods. 2. Management innovation is to adapt to the actual requirements of environmental changes. The economic logic of management innovation is to achieve a more adequate and efficient allocation and utilization of economic resources, production factors, and knowledge capabilities through the optimization and adjustment of production relations, thereby liberating and developing reality productive forces. To effectively adjust production relations, it is necessary not only to fully consider the enterprise's own conditions and endowments, but also to adapt to the objective changes of the environment in which it is located. The current environmental changes in the textile industry mainly reflect five aspects:  Black swan incident has become the norm. From Brexit to Turkey’s coup, from Trump’s sudden emergence in the US election, to the rapid rise of cotton prices in the previous period, black swan incidents have occurred frequently. .　　 There are three reasons why the "black swan", which has a small probability, is centralized and normalized.　　 One is disruptive innovation. Worldwide, the collective technological revolution characterized by intelligence, greenness, and ubiquity is booming and profoundly adjusting the division of labor, reshaping the competitive landscape, and changing the balance of power. In the wave of technological innovation, the uncertainty of the industry has increased significantly, a larg

On December 22, at the 4th China Cotton Industry Elite Forum hosted by the China Reserve Cotton Information Center, leaders of the participating departments and entrepreneurs discussed the problems and countermeasures of the cotton spinning industry chain. Among them, the director of Henan Tongzhou Cotton Industry Co., Ltd. Chief Wei Gangmin expounded his views on the current competitiveness of the cotton spinning industry. General Wei believes that the main factor that affects the competitiveness of my country's textile industry is the price of raw materials. At present, the competition gap between domestic cotton spinning enterprises and foreign countries is expanding, and the continuous decline in consumption should be considered a general trend. According to our investigation, there was a period of prosperity in consumption in the first half of this year, and it will continue to fall in the future. Especially before the launch of new cotton in August-September 2015, the consumption of cotton was roughly 450,000 tons, which was reduced by nearly half compared with the historical peak consumption period. During the historical peak period, the national consumption reached more than 1,080. Million tons. General Manager Wei said that the current cotton consumption in India has exceeded 5 million tons, which is close to the current consumption level in China. However, the performance of Indian textile companies is far better than that of domestic companies, and the output of cotton in India has surpassed that of China since this year. At present, the price level of cotton used by domestic textile enterprises in India should be around 8,800 yuan/ton, and the current price of cotton used by domestic textile enterprises should be 12,800 yuan/ton, which is 4000 yuan higher. From the comparison of imported yarn and domestic yarn, the competitiveness of Chinese textile enterprises in terms of management, technology, labor skills, etc. cannot consume the price difference of 4000 yuan; if you look at the export point of the textile industry chain terminal products, then the same is exported to Europe, the United States, and Japan, you have a difference of 4,000 yuan, and there is no doubt that you cannot compete. In addition, the export subsidy for Indian textiles is now above 3%, and there are also interest subsidies for exports. Only the direct export subsidies add up to about 500 yuan. That is to say, the overall competitiveness of the domestic textile industry is compared with that of India. It is impossible to solve the problem by relying solely on the advantages of enterprises from technical management. Mr. Wei said that as far as the development level of the textile industry is concerned, India, Pakistan, Bangladesh, etc. are not as good as China. The diligence and wisdom of the Chinese labor force are not weak. At the same time, from the perspective of the cost of processing, foreign wages will be lower. However, from our survey results, due to work efficiency and other reasons, their spinning costs are not much worse than that of China. Taking 32 yarns as an example, our labor costs are only 5500-6000 yuan/ton, while the processing costs in Vietnam are comprehensive. It is not much lower than China, so China's manufacturing capacity and management level should not be low in global competitiveness. At present, the domestic cotton spinning industry needs to make full use of these resources, policies and financial support to improve the competitiveness of China's textile industry.

The Fifth Plenary Session of the 18th Central Committee put forward the five development concepts of innovation, coordination, greenness, openness, and sharing for the first time, drawing a new blueprint for China's 13th Five-Year Plan and beyond. The textile industry is also in a special period in history, standing at a new starting point, facing new challenges, but also having new opportunities. Under the two centennial goals, the textile industry will further strengthen the three positioning, two characteristics, and six functions of the textile industry, and achieve a new leap in the textile industry. A new starting point: China's textile industry at the intersection of history At present, China's textile industry is in a special period of historical convergence. It is standing at a new starting point with speed changes, structural optimization, and power conversion as important features. The specific performance is: the steady growth of scale efficiency, and the development speed from high-speed to medium-high speed; The characteristics of structural adjustment are obvious, and comprehensive optimization has become the theme of industry development; the process of industry transformation and upgrading has accelerated, and the development momentum has shifted from factor-driven to innovation-driven. Speed ​​changes---scale benefits have steadily increased, and the development speed has shifted from high-speed to medium-to-high speed Since 2010, the growth rate of major economic indicators such as total fiber processing, operating income, total profit, exports and industrial added value in China's textile industry has dropped significantly, showing a medium-to-high-speed growth trend. Although the growth rate has slowed down, the development situation is better than the overall situation of the country's economy. On the whole, the growth rate of the textile industry's added value is faster than that of GDP. From 2009 to 2014, the fixed asset investment of enterprises above designated size in the textile industry maintained growth, but the growth rate declined. The total investment from January to October 2015 was 978.185 billion yuan, a year-on-year increase of 15%; from 2009 to 2014, the proportion of fixed asset investment by enterprises above designated size in the textile industry in the total social investment increased steadily and slightly, from January to October 2015 Accounted for 2.19%. Structural optimization-the characteristics of structural adjustment are obvious, and comprehensive optimization has become the theme of industry development At present, the decisive role of the market in the allocation of resources has been brought into full play, which has led to a comprehensive, multi-dimensional, and in-depth structural adjustment of the industry, and the industrial structure is moving in the direction of rationalization. In terms of raw material structure, in 2014, chemical fiber accounted for 82.2% of the total fiber processing in the country, an increase of 12.2 percentage points from 2010. In terms of product structure, in 2014, the ratio of the processing volume of the three terminal fibers for apparel, home textiles and industrial use was 46.8: 28.6: 24.6, of which industrial textile fibers accounted for an increase of 4.6 percentage points over 2010. In terms of regional structure, the proportion of the main business income of regulated enterprises in the western region of the entire industry rose from 16.8% in 2010 to 22.5%, while overseas investment is showing an acceleration trend. In terms of industrial organization structure, the industry's advantageous resources are accelerating the gathering of leading companies, while a number of small, specialized, sophisticated, and special enterprises have increased and developed healthily; in terms of consumption structure, the growth of physical retail channels has slowed down, and e-commerce has grown significantly. In terms of export structure, the market is clearly diversified. In 2013, ASEAN surpassed Japan to become the third largest market for China’s textile and apparel exports. In 2014, the European Union, the United States, ASEAN, and Japan accounted for 55.11% of China’s textile and apparel exports. Knitting exports developed rapidly. In 2006, the exports of knitted apparel and accessories surpassed that of woven fabrics. In 2013, the export of knitted fabrics and clothing exceeded 100 billion U.S. dollars; the proportion of general trade continued to increase, reaching 76.18% in 2014, an increase of 1.75 percentage points over 2010. In addition, about 70% of the 80 listed companies in the textile and apparel sector have cross-border development, and the corporate capital market for cross-border development has performed well. Diversified extension provides a reservoir of funds for expanding and strengthening the main business, but we should be wary of the tendency of capital operation to hollow out the physical industry.

The main review and outlook of the week: 1) In 2016, the retail sales of 100 key large-scale retail enterprises decreased by 0.2% year-on-year, of which the retail sales of clothing increased by 5.8% year-on-year, and the retail sales of cosmetics decreased by 1.9% year-on-year. 2) In October 2016, the retail sales of 50 key large-scale retail enterprises nationwide increased by 1.6% year-on-year. The retail sales of clothing increased by 6.4% year-on-year, and the retail sales of cosmetics decreased by 1.6% year-on-year. Industry and company: 1. Pathfinder: Plan to make sports the second main business, focusing on sports fitness and sports training. 2. Hosa Fitness: The fitness industry will become more chained, branded and Internet-based in the future. 3. China Sports Fitness: The future income sources of the fitness industry will be diversified to improve average efficiency. 4. Hailan House: It is estimated that there will be more than 600 net openings this year. Designer cooperation models will continue to be launched, and inventory control has been effective. 5. Semir Apparel: E-commerce launches new brands this year and cooperates with Internet celebrities, and plans to quickly return 50% of products offline next year. 6. Cross-border communication: The company transferred 4.2% of its shares in Tongtuo Technology for RMB 83.56 million. The equity transfer premium is expected to increase the company's 2016 consolidated statement profit by approximately 38.56 million yuan. 7. Seven wolves: As Longling Investment was unable to complete the NEEQ listing and fixed increase procedures in the short term, the company decided to withdraw from Longling Investment, and Longling Investment returned a capital increase of 29.9 million yuan. 8. Qingdao Golden King: 1) The company will be accepted by the China Securities Regulatory Commission. 2) The company’s controlling shareholder, King King Transportation, released 19.49 million shares from the pledge, and then pledged 19.49 million shares to provide pledge guarantees for 220 million working capital loans, accumulatively pledged 86.99 million shares. 9. Huasi shares: Zou Hong resigned from the position of deputy general manager of the company. 10. Longzi shares: The controlling shareholder Shen Dongri pledged 6.2 million shares, which has pledged 52.7 million shares in total. 11. Lianfa Co., Ltd.: The company provided a mortgage loan of RMB 15 million to Jiangsu Siyou Cloth Industry, with a loan period of three years and an annual interest rate of 6%. 12. Youngor: 1) The company will continue to deposit the expired 150 million raised funds deposited as a certificate of deposit. 2) The company purchases 100 million yuan of wealth management products. 13. Aokang International: Aokang Investment, the controlling shareholder of the company, will postpone one year to repurchase the 13.5 million shares whose pledge has expired, with a total pledge of 107 million shares. 14. Jiansheng Group: The company suspended trading on November 15, 2016 due to plans for major asset acquisitions. 15. Gold Rabbi: Due to personal funding needs, the company's deputy general manager Sun Yu reduced his holding of 40,000 shares. 16. Xinur: Due to differences in transaction prices, the company's controlling shareholder, groom Xinur, terminated the transfer of his shares, and the company will resume trading on November 17. 17. Fu Anna: The company purchased 50 million yuan in wealth management products. 18. Lukang Culture: 1) The total amount of restricted stocks after adjustment is 9.04 million shares, and the repurchase price is adjusted from 5.9 yuan/share to 2.9 yuan/share; 2) the restricted stock incentive plan is implemented in the first phase of unlocking. The unlock ratio is 30%, totaling 2.46 million shares; 3) The company plans to repurchase and cancel the 847,000 restricted stocks granted but not unlocked by the incentive object for the first time due to the resignation of the incentive object, and pay the repurchase price A total of 2.447 million yuan, the total number of company shares will be changed to 890 million shares. 19. Xingye Technology: 1) The company received a government subsidy of 1.2 million yuan for innovation projects; 2) The company’s controlling shareholder Wanxing Investment will postpone the repurchase of 2.79 million shares of its pledge due for one year, with a total pledge of 40.27 million shares. 20. Bobaolong: The company issued 30.7 million shares to Beixin Ruifeng, Xinhua Fund, and Huatai Bai Rui at 32.2 yuan per share, raising funds of 988 million yuan, and will be listed on November 21. 21. Bangjie shares: Tao Jianwei, the controlling shareholder of the company, has pledged his 18.08 million shares to repurchase, with a repurchase period of one year, and a cumulative pledge of 99.02 million shares. 22. George White: Shareholder Qian Shaozhi released 8.1 million shares pledged, pledged 6.8 million shares, and pledged 6.8 million shares in total. 23.