In order to better record the development trajectory of the industry, the new waves have at this gathering media perspectives focused on industry hot spots, particularly the “2022 10” event, recalling with the General Assembly the landmark events in the country’s sphere of residence this year, and taking advantage of the new challenges experienced by the home industry during the special historical phase.

Twenty-two dozen events1 celebrate the beginning of the year of high-quality development in the future economy

In August, the Department of Safety and Security, the Ministry of Housing, the Ministry of Commerce and the Municipal Authority jointly issued the Action Programme on the Distribution of High-quality Development for Home-Based Industries, which was launched in 2025 with a marked increase in domestic industrial innovation capacity, a marked increase in the supply of high-quality products, and an initial virtuous cycle of demand generation and demand-driven supply. There has been a steady increase in individualized customization rates, a marked increase in the supply of green, intelligent and healthy products, and an acceleration in the development of new industries such as smart home ownership. In the future, about 50 well-known brands, 10 home-based eco-brands will be nurtured, 500 smart home experience centres will be established and 15 high-level niche industry clusters will be developed to promote household brand quality consumption with high-quality supplies.

The measures are applicable to the city’s urban parks, mainly including comprehensive parks, special parks, community parks, and urban ecological parks determined in the urban green space system planning. In principle, the area of urban parks included in the management of these Measures shall not be less than 1 hectare. (Yao Yu)

In the 14th minute of the game, the goal of Guangzhou team was declared lost. Just when the outside world thought that the Kawasaki striker would score more goals next, Guangzhou goalkeeper Zhang Jihao stood up. His high catch resisted the opponent’s shot for many times and maintained the score of 0-1 to the end.

This time, Guangzhou team sent young players to play, creating a series of embarrassing records: among the eight groups in this year’s Asian championship, Guangzhou team is the only team that did not score goals and the team that lost the most goals among all teams. Similarly, Guangzhou team only hit the doorframe three times in six games, which also set a new low in history. Facing the top clubs in Asia, this team is really difficult to resist.

Just when the youth team fought for the Asian championship, a series of changes also took place in the first team of Guangzhou team. With the closing of the winter transfer window, Zhang Linpeng, Gao Zhunyi, he Chao, Perlman River, Zhong Yihao, Feng Boxuan, Liao Lisheng and other players all announced their departure, while veteran Mei fang chose to retire. If you count with the players who left the team before, nearly 20 players have left.

Guangzhou team only introduced Liang Peiwen and Li Yang. Wei Shihao, Yang Liyu, Zhang Xiuwei, Yan Dinghao, Li Xuepeng and Wu shaocong chose to stay in the team, while the fate of Zheng Zhi and Huang Bowen has not been decided yet.

In the 14th minute of the game, the goal of Guangzhou team was declared lost. Just when the outside world thought that the Kawasaki striker would score more goals next, Guangzhou goalkeeper Zhang Jihao stood up. His high catch resisted the opponent’s shot for many times and maintained the score of 0-1 to the end.

This time, Guangzhou team sent young players to play, creating a series of embarrassing records: among the eight groups in this year’s Asian championship, Guangzhou team is the only team that did not score goals and the team that lost the most goals among all teams. Similarly, Guangzhou team only hit the doorframe three times in six games, which also set a new low in history. Facing the top clubs in Asia, this team is really difficult to resist.

Just when the youth team fought for the Asian championship, a series of changes also took place in the first team of Guangzhou team. With the closing of the winter transfer window, Zhang Linpeng, Gao Zhunyi, he Chao, Perlman River, Zhong Yihao, Feng Boxuan, Liao Lisheng and other players all announced their departure, while veteran Mei fang chose to retire. If you count with the players who left the team before, nearly 20 players have left.

Guangzhou team only introduced Liang Peiwen and Li Yang. Wei Shihao, Yang Liyu, Zhang Xiuwei, Yan Dinghao, Li Xuepeng and Wu shaocong chose to stay in the team, while the fate of Zheng Zhi and Huang Bowen has not been decided yet.

On April 26, the Public Security Department of Sichuan Province held a press briefing on the “Intellectual Property Publicity Week” to report the overall situation of criminal protection in the field of intellectual property in Sichuan over the past year, and released a number of typical cases of crimes in the field of intellectual property.

Next, Sichuan public security will focus on the protection of well-known brands in the province and make every effort to fight the “brand defense war of Sichuan enterprises”; Focus on copyright protection and make every effort to fight the “Universiade copyright protection war”; Highlight the protection of enterprise intellectual property rights and spare no effort to fight the “innovation patent defense war”.

Chengdu cracked the “June 1” major case of counterfeiting registered trademarks

In August 2021, the food, drug and Environmental Crime Investigation Detachment of Chengdu Public Security Bureau successfully cracked the “June 1” super large counterfeit registered trademark case through careful investigation of the clues transferred by the Municipal Tobacco Monopoly Bureau, and destroyed a super large counterfeit cigarette manufacturing and selling gang composed of Fujian Yunxiao nationality personnel and local personnel in Chengdu, Sichuan in one fell swoop.

One set of counterfeit cigarette production line was seized at the scene of the case, 10 dens for the production, storage, packaging and transfer of counterfeit cigarettes set up by criminal gangs in Jintang, Qingbaijiang, Deyang, Mianzhu and other places in Chengdu were destroyed, and several counterfeit cigarette production machinery, auxiliary materials, semi-finished products and finished products were seized, with a value of more than 20 million yuan. The investigation found that the criminal gang has formed a complete industrial system for the production, storage, transportation and sales of counterfeit cigarettes since the implementation of the crime of manufacturing and selling counterfeit cigarettes in May 2021. The sales network involves Chengdu, Mianyang, Deyang, Nanchong, Kunming, Zhaotong and Yunxiao, Zhangzhou, Fujian. As of August 11, 2021, the gang has sold 3600 counterfeit brand cigarettes (50 cigarettes / piece), worth 31 million yuan. The case involved a total value of 51million yuan, and 33 suspect (including 6 Foreign illegal entry counterfeiters) were arrested and transferred for examination and prosecution.

The case was listed as a joint supervision case by the Ministry of public security and the State Tobacco Monopoly Bureau, which has effectively deterred the criminals of making and selling counterfeit cigarettes, and made a positive contribution to safeguarding the vital interests of the people and creating a good business environment.

Deyang cracked a case of producing and selling fake and shoddy products (lubricating oil)

On October 12, 2021, the police of Xiangyang police station of Guanghan Public Security Bureau in Deyang found that a rented factory in group 8, Jiangnan village, Xiangyang Town, Guanghan City produced and sold lubricating oil, which was suspected to be a fake product. Therefore, they coordinated the market supervision bureau to conduct a joint inspection. They seized a group of oil subpackage equipment, 216 barrels of fake and inferior brand oil, more than 18000 sets of fake packaging materials, more than 6000 liters of bulk oil, a closed truck for transportation, and arrested 3 suspect.

According to investigation, from 2018 to the time of the case, suspect Hu and Hu bought low-grade barrels of lubricant (200L / barrel), empty barrels of lubricant and packaging materials from an oil depot in Chengdu, hired workers xumoujun and Tang moutian to fill and process in a rented plant in Xiangyang Town, Guanghan City, and sold fake brand engine oil to Sichuan, Tibet, Gansu, Shaanxi and other places, so as to obtain illegal benefits.

At present, the case has been transferred to the procuratorate for examination and prosecution.

Yibin cracked the case of “707” counterfeiting registered trademark

In July, 2021, Yibin Public Security Bureau received a report that a batch of counterfeit Baijiu of a well-known brand was sent to Guizhou from other provinces. Yibin Public Security Bureau immediately set up a “707” task force to investigate the counterfeit registered trademark case.

After carrying out in-depth investigation on the source and whereabouts of the goods, Yibin Public Security Bureau identified the whole chain criminal network of production, supply and marketing, organized more than 100 police forces to carry out centralized network collection in three batches from July to September 2021, destroyed the criminal network, arrested 18 suspects, destroyed 2 production dens and 2 sales dens, seized 52359 bottles of counterfeit wines of 1980s and 1990s and more than 40000 sets of packaging materials for the production of counterfeit wines, The amount involved was more than 110 million yuan.

After investigation, Ma and others in Henan Province purchased the packaging materials of fake brand “old wine” from Jiangsu and other places for recycling, produced fake old wine of various brands, and sold it to Yu in Guizhou through logistics delivery. Yu was sold to Dai in Chongqing and AI in Anhui again. Dai in Chongqing established a professional sales company, hired “online Red” to broadcast “drainage” live, and sold all kinds of fake wine to more than 2000 people in 21 provinces and cities across the country, with a huge sales amount.

At present, the investigation of the case has been completed, and 18 suspects are under review and prosecution.

Bazhong cracked the case of counterfeiting registered trademarks on August 19

On August 19, 2021, Bazhong Municipal Public Security Bureau took the lead in organizing Tongjiang County Public Security Bureau, with the cooperation of the market supervision bureau, to collect the network of suspect yemouhui, Deng and others who were found in the early stage of Mopai. At Yemou’s residence, 132000 brand packaging bags, 129000 labels, leaflets and so on were found at the scene. More than 500 packaged Tongjiang tremella and Auricularia auricula bags, 380 kg of bulk tremella, 300 kg of bulk black tremella and Lentinus edodes, and more than 4000 packaging boxes were found, As well as printing machine, edge banding machine, can sealing machine and other fake tools.

After investigation: in 2011, the suspect yemouhui, with the consent of a limited liability company in Tongjiang County, Sichuan Province, opened a brand food flagship store in tmall mall to sell the products produced by the company. In the course of operation, suspect yemouhui, in order to seek illegal interests, purchased and forged brand packaging bags with suspect Shao, encapsulated tremella, Auricularia, Agaricus blazei, Auricularia auricula and other commodities purchased in Henan, Fujian, Chengdu, Shaanxi and other places, and sold counterfeit brand commodities in tmall flagship store, with a sales amount of more than 30million yuan.

At the same time, it was found that the suspect Shao, without authorization, gave the company’s registered trademark logo, the “Tongjiang Tremella” logo of Tongjiang Tremella Association, the copy of Tremella company’s business license, corporate identity card, product implementation standards, codes and other materials to suspect yemouhui. Yemouhui contacted the manufacturer to print 52200 brand packaging bags, 59000 labels, leaflets and other publicity materials without authorization, Used to sell counterfeit brand goods.

The case was rated as “seven typical cases of severely cracking down on food safety” by the Ministry of public security. At present, 8 people including suspect yemouhui and Shao have been transferred to the procuratorial organ

Up to now, more than 220000 people have made reservations for X80 Series in vivo mall and more than 30000 people have made reservations in JD. The total number of reservations on the two platforms has exceeded 250000, which is very popular.

The flagship of this series is equipped with vivo self-developed image chip V1 +, which hardware encapsulates three algorithms: 3D real-time stereo night scene noise reduction, MEMC frame insertion and AI super division. It has the characteristics of good scheduling, high speed and high energy efficiency, and its data throughput speed can be effectively maintained at about 8GB / S; Combined with SRAM, the energy efficiency is improved by about 300% and the power consumption is reduced by about 72%.

In addition, vivo X80 series is equipped with MediaTek Tianji 9000 chip in the first batch. The chip adopts TSMC 4nm process and is composed of 1 cortex-x2 super core, 3 cortex-a710 large cores and 4 cortex-a510 small cores. The GPU is arm mali-g710 and its performance is comparable to Xiaolong 8.

It is worth noting that this time, in order to improve the energy efficiency ratio of Tianji 9000 platform, vivo used the algorithm to adjust the CPU resource allocation strategy to reduce heating. After many iterative tests, it solved the problem of performance probability fluctuation and effectively improved the energy efficiency ratio of Tianji 9000 platform. The test results show that in the game scenario with high performance requirements, Tianji 9000 can extend the life of the game by 10%.

To sum up, vivo X80 series is the best performing Tianji 9000 mobile phone. More details will be announced at the press conference at 19:00 on April 25, which is worth looking forward to.

The first is to strengthen the rush planting of vegetables. Shanghai has issued some supportive policies at the urban level to encourage and guide some vegetable production cooperatives, including vegetable production enterprises, to grow green leafy vegetables with good real estate. According to recent statistics, in the past month, Shanghai has scrambled to plant more than 80000 mu of vegetables, and 58000 mu of green leafy vegetables. So far, the amount of vegetables in the field has reached 246000 mu, and the area of green leafy vegetables in the field has reached 150000 mu, which is basically the same as that in previous years.

The second is to strengthen the rush collection of vegetables. On the basis of ensuring epidemic prevention and control, we will try our best to improve the return to work and production rate of vegetable enterprises and release some labor force for harvesting vegetables. At present, among the 849 large-scale vegetable production enterprises in Shanghai, 667 have begun to resume production, with a resumption rate of 78.6% and a resumption rate of 75%. After April 15, the average daily market volume of green leafy vegetables in the whole suburbs of Shanghai has reached more than 2000 tons, and it is relatively stable.

The third is to increase the distribution of vegetables. In order to smooth the channels of vegetable sales in the whole real estate, we must first enhance the transportation capacity. At present, Shanghai has issued more than 2900 vegetable supply guarantee passes to transport vegetables from the fields in the suburbs as much as possible. At the same time, it has strengthened the connection between production and marketing for large-scale enterprises, and connected some supply guarantee enterprises and new retail terminals through centralized purchase, centralized distribution, centralized delivery and other modes to expand sales. For some small and medium-sized retail investors, by increasing the connection with some leading enterprises and cooperatives, we can help these small and medium-sized retail investors solve the sales difficulties, which also increases the supply of vegetables in the market. Next, Shanghai will continue to solidly promote all work and further consolidate the foundation of vegetable supply.

The Green Party politician announced that the government would also launch a corresponding campaign, the report said. “If we look at it as a large joint project and everyone does their best, we can reduce our dependence on Russian energy imports,” he added He suggested that traveling by train or bicycle on Easter “can not only protect the wallet, but also ‘stimulate Putin’”.

In addition, habek made other personal recommendations. “If you heat your house and close the curtains at night, you can save up to 5% of energy; if you reduce the indoor temperature by 1 degree, you can save about 6%. It may not be so comfortable, but it won’t freeze,” he said

In response to “car free Sunday”, habek said: “we can try not to drive now, not just on Sunday. Every kilometer we don’t drive is contributing to making it easier for us to get rid of Russia’s energy supply and protect the climate.”

According to the report, for those who rely on car commuting to work, habek called on employers to consider “whether they can allow home office if possible”. He said that Germans also worked at home during the epidemic, and now they can work at home for one or two days a week if possible.

Spac has no specific business, and its sole purpose of listing and financing is to acquire a private company within a period of time after listing, so as to realize the financing and listing of the latter.

In fact, just over two months after the entry into force of the SPAC listing mechanism of the Hong Kong stock exchange, it has attracted the participation of former Alibaba CEO Wei Zhe, Li Ning, former Hong Kong Monetary Authority President Chen Delin and other financial investment giants, as well as various investment institutions and China concept stock companies. Its momentum has exceeded that of the Singapore Stock Exchange (hereinafter referred to as the “Singapore Stock Exchange”) which first introduced the SPAC mechanism in September last year.

Behind the focus on the “new economy” is a 170 billion asset management company

According to the prospectus, the initiator of Pisces is Dongjian asset management, and the exclusive sponsor is CMB international. Pisces plans to focus on companies in high growth “new economy” industries, such as big health, new energy, new economy consumption and retail, advanced technology and other fields.

Dongjian asset management is an asset management company indirectly wholly owned by Dongjian International (0329. HK), a company listed on the main board of the Hong Kong stock exchange. According to public documents, as of December 31, 2021, Dongjian asset management was managing 18 funds, with an average total value of about HK $10.7 billion, and the maximum size of a single fund was US $560 million (about HK $4.4 billion).

Pisces also pointed out in the documents submitted that there is a large demand for private equity exit in Greater China, which brings a good opportunity to obtain considerable adjusted risk return for the M & A transactions of its special target acquisition companies. If there are any attractive opportunities when looking for M & A targets, it may also strive for M & A targets of special purpose acquisition companies outside the “new economy” industry.

As of the date of the document, the company has not selected or found any acquisition target of special purpose acquisition company. On the trading day of March 3 after submitting the prospectus, the share price of Dongjian international once rose by more than 7%, but it fell down as of the last trading day.

It is worth noting that the chairman of the board of directors of Pisces is Jiao shuge (also known as “Jiao Zhen”). According to the prospectus and CDH’s official website, Jiao shuge is the non-executive director and chairman of Dongjian and the co-founder and President of CDH investment.

CDH investment is one of the largest private equity companies in Greater China. Its predecessor is the direct investment department of CICC. According to CDH’s official website, as of September 30, 2021, CDH’s assets under management totaled more than US $27 billion (about 170 billion yuan). Its private equity investment business has invested in more than 90 enterprises, of which more than 60 have been listed. At present, CDH manages five US dollar funds and two RMB funds, with a cumulative management capital of more than 50 billion yuan.

According to the data filed by the fund industry association, CDH equity investment management (Tianjin) Co., Ltd. was established in May 2008, and the current management scale has exceeded 10 billion.

CDH’s private equity investment strategy focuses on long-term bets and focuses on domestic leading enterprises with sustainable market competition in China. The investment fields are concentrated but not limited to retail and consumer goods, agricultural industry, industrial manufacturing, medical and health care and other industries.

According to CDH’s official website, since its establishment, Jiao Zhen has successfully led more than 90 well-known brands investing in consumer goods, retail, manufacturing, modern services, health care, finance and other fields. Landmark cases include JS global, China Yuanda, sirtex, Kexing, lufax, Mengniu, Wanzhou International, etc.

Hong Kong stocks welcome the gold digging tide of spac

According to the current situation, spac in the Hong Kong stock market is expected to usher in a “bumper harvest”. In just two months, the HKEx has welcomed nine spac listing applications. According to the report released by PwC, it is expected that 10 ~ 15 spac companies will be listed in Hong Kong in 2022, raising about HK $20 billion to HK $30 billion.

After the establishment of the SPAC listing mechanism in Hong Kong, it has attracted many investment, financial and business elites such as Jiao shuge.

Prior to Pisces, on February 28, Hong Kong Huide acquisition company (hereinafter referred to as “Huide”) submitted a listing application to the Hong Kong stock exchange. The promoters of Huide include Chen Delin, former president of the Hong Kong Monetary Authority, and Zeng Jingxuan, former chairman of Standard Chartered Bank in Greater China (the sister of Donald Tsang, former chief executive of Hong Kong).

Chen Delin is a senior person in the financial field. He served as the president of the Hong Kong Monetary Authority from October 2009 to September 2019. After experiencing the Asian financial crisis in 1998, he led and launched the IPO of TraHK fund in Hong Kong stocks in 1999, raising HK $33.3 billion, which was the largest initial public offering in Asia (outside Japan) at that time.

On February 15, vision deal HK acquisition (hereinafter referred to as “vision deal”) submitted a listing application to the Hong Kong stock exchange. The sponsors of vision deal include Wei Zhe, former CEO of Alibaba and founder of Jiayu fund.

On January 31, Trinity acquisition Holdings Limited (hereinafter referred to as “Trinity”) Co sponsored by Li Ning, executive chairman and co chief executive of Well-known Athlete and sports brand, submitted a listing application to the Hong Kong stock exchange. Trinity plans to acquire global consumer lifestyle companies with strong growth potential in China, which may intersect with Li Ning’s “old line” of sports retail in the future.

In addition, it is worth noting that the next gold digger of Hong Kong stock spac is also Tianjing biological, an innovative biological drug company listed in the United States.

On February 21, vivre lifesciences acquisition (hereinafter referred to as “vivre”) submitted an application for listing to the Hong Kong stock exchange, which was jointly managed by dingpei asset management and Tian

Covid-19, covid-19, is still a global mystery. COVID-19’s exhibits related to the disease are attracting particular attention at the Expo. Merck has presented the world’s first oral anti new crown pneumonia drug, the medicine, the name of the medicine, which is a small molecule oral medicine, which is used to treat the adults with mild to moderate new crown pneumonia who are at high risk of hospitalization. According to staff member Zhao Wei, on November 4, the drug has been approved by the British government for clinical treatment:

[in early October, we also applied for emergency use to the FDA of the United States. This is our first exhibition, which brings some new developments of this drug.]

There are nearly 700000 registered hemodialysis patients in China. JMS of Japan Co., Ltd. brings the world’s first fully automatic ultrapure dialysis equipment. Chen Jiuxing, the person in charge of China, said that compared with traditional dialysis instruments, the fully automatic ultrapure dialysis equipment is loaded with artificial intelligence to minimize the possible pollution caused by manual operation and improve the safety of dialysis.

[all the original manual operations can be completed automatically with one button type, and more than 50 manual steps can be reduced in a single operation, which greatly reduces the error caused by this manual operation.]

Medtronic’s “diamond head temperature controlled cold saline perfusion radiofrequency ablation system” was the first exhibition in the Asia Pacific after the smallest cardiac pacemaker, which is the only cardiac ablation catheter in the world using diamond as material. A blue signboard is placed beside the exhibit, indicating that China materials enables Medtronic innovation. Staff Li Zhifei said that the origin of synthetic diamonds is Hebei Province. The system is expected to be applied in Chinese hospitals soon.

[the advantage of diamond material is that it conducts heat very fast. It is 200 ~ 400 times faster than traditional materials. It can improve the operation efficiency by at least 40%. There is not much load for patients with heart failure.]

The world’s first AI highly automated contactless cancer radiotherapy center is one of the flagship products of Varian Medical exhibition this year. It can provide cancer patients with the world’s first highly efficient individualized precision radiotherapy completed within 15 minutes. Zhao Liang, product manager, said that this product integrates artificial intelligence technology and the clinical experience of many doctors. When patients lie on the radiotherapy bed, they can automatically complete the radiation dose assessment and complete the precision radiotherapy that took 10 hours in the past within 15 minutes.

[in general, radiotherapy for tumors usually takes 20 times a course of treatment. Traditional radiotherapy is fixed after the next prescription. However, tumors often change in size and shape during this period. We can perceive the changes of tumors every day, so as to timely adjust the original scheme and improve the curative effect of tumors.]

The above was reported by reporters Liu Kangxia and LV Chunlu

Soulful hug

Unloading time

Tearful farewell

“Glorious retirement” is particularly eye-catching

Shake hands again before parting and say goodbye again

Line up to say goodbye

Red net time, September 1 (reporter Chen Zonghao, correspondent Ma Kun, Xu Chengrui, Zhou Xiaomeng) it’s another year’s discharge season, and it’s time for the military camp to ring the camel bell. On the morning of September 1, the Xiangxi detachment of the armed police held a farewell ceremony for veterans in the summer and autumn of 2021.

At about 9 am, with the solemn national anthem, the ceremony officially began. Three flag guards, escorting the bright red flag of the armed police force, walked forward with sonorous steps and straight military posture.

“Welcome the flag of the armed police force and salute the flag of the armed police force!” The flag bearer waved the flag of the armed police force vigorously. At this moment, all retired veterans were full of deep feelings, extended the most solemn military salute to the military flag, and said goodbye to the barracks and comrades in arms accompanied by day and night in gratitude and reluctance.

Looking around the camp, veteran Xie Geng found that every corner here left unforgettable memories: “five years of military life is fleeting. I really don’t want to leave this warm family! I felt bitter during training in the past and wanted to end it quickly. Today is really going to end, but I hope to do it again!”

“The discharge ceremony is not only a ‘farewell ceremony’ for everyone to leave the military camp, but also a ‘charge horn’ for everyone to start a new journey.” At the ceremony, Chen Junyu, the leader of the Xiangxi detachment of the armed police force and the commissar of political commissar, paid the highest respect to the veterans respectively, and encouraged them to continue to maintain the true colors of the soldiers, and to carry forward the spirit of “taking the road as if they were so strong, and now stepping forward from the beginning” to create a new career in their new job.

“Squad leader, come back often. The army will always be your home!” After returning to the hometown, monitor Li Dehong will hold on to his honor and promise him that the old soldier will not lose his face when he returns to the hometown

With the melody of camel bell, the veterans boarded the bus to the railway station, and the officers and soldiers on both sides of the road lined up to see them off. When the broadcast sounded the sound of a train boarding, the veterans who were about to board and their comrades in arms who had been together day and night hugged each other and said to cherish each other. With the sound of the whistle, the train moved forward slowly, saw off the officers and soldiers lined up to salute and pay their last respects to the veterans.

The frequency and direction of investment have changed

There is a clear shift in investment in games, education and other fields

Leading enterprises are also gradually alienating themselves from some invested enterprises

Figure / IC

Investment turn of Internet manufacturers

Our reporter / Jiang Zhiyu

Issued on the 1032 issue of China Newsweek on February 21, 2022

Following Tencent’s continuous reduction of shares in jd.com and Singapore Donghai group, the news of the dissolution of the strategy and investment department came out on January 18, 2022. Byte soon gave a brief response, saying, “the company decided to strengthen business focus, reduce investment with low synergy, and disperse employees of the strategic investment department into various business lines…”

“As soon as the news came out, the headhunter was more excited than us.” An Internet enterprise war investment practitioner told China Newsweek that she recently received several headhunting calls asking about her willingness to change jobs to other industries. She also saw that some securities companies and private equity institutions indicated in their recruitment information that people from CVC were welcome.

Enterprise war investment (CVC, enterprise venture capital fund), especially the strategic investment department of large Internet companies, has always played a special role in China’s venture capital ecology. Over the past decade, Chinese enterprises have experienced a period of high explosive growth in the field of venture capital. According to it orange data, the number of CVC investments in China increased from 134 in 2011 to 925 in 2020. The total number of foreign investment events of 159 Internet enterprises, accounting for only 21%, accounts for 58% of the total domestic CVC investment, with an obvious leading advantage. Investment and M & A is often a major way for Internet enterprises to expand.

However, the industry seems to be experiencing turbulence recently. Over the past period of time, the investment frequency and direction of Tencent, byte, Alibaba and other companies have changed, and there has been a significant shift in investment in games, education and other fields. The head enterprises are also gradually alienating the relationship with some invested enterprises. Will internet war investment still exist? Where will the investment and M & a department that once had a significant impact on the Internet business pattern go? Compared with the external speculation, the feeling of insiders is not obvious. Several Internet CVC practitioners told China Newsweek that the war Investment Department of their company is still working as usual. “Although it may face some contraction, it has not yet reached the level of severe shock.”

War investment is no longer “beating”

The origin of causing external concern comes from the abolition of the war investment department. The strategic investment business of large Internet companies has stepped on the brakes, which has been confirmed and made public for the first time.

The strategic investment department is responsible for dealing with major business transactions of the company and has always been an important department of the company. People close to the byte war investment department told China Newsweek that after the dissolution of the byte war investment department on January 18, employees can choose to transfer, but the transfer needs an interview to pass. Zhao PENGYUAN, the former head of the war investment department, and five others were transferred to the president’s office to be responsible for the group’s strategy. Others transferred to the business line strategy, while the financial investment line personnel were basically laid off.

According to it orange data, byte beat’s investment and M & a business began in 2014. So far, 194 investment events have been disclosed. From the perspective of investment purpose, the investment department can be divided into strategic investment and financial investment. Zhao PENGYUAN is the person in charge of strategic investment, and the financial investment team was established in 2020, headed by Yang Jie, a former vice president of Sequoia Capital. Compared with strategic investment, which aims to coordinate business, financial investment aims to pursue return on investment. The aforementioned person said, “Zhao PENGYUAN is a consultant and is willing to do strategy. Yang Jie has not determined where to go.”

For the news of layoffs, the company responded that: the company checked and analyzed its business at the beginning of the year, decided to strengthen business focus, reduce investment with low synergy, disperse employees of the strategic investment department into various business lines, and strengthen the cooperation between strategic research function and business.

The shift of people from byte war investment to business does not happen suddenly. In the middle of 2021, employees of the war investment department will be transferred to the business line. “There is no agreement within the company on the value of war investment.” The above-mentioned person said that the boss paid attention to the coordination between investment and existing business, and was not satisfied with the performance of financial investment. In 2021, byte invested in a large number of consumer brands and bet on the robot field. These are hot industries of venture capital, but their business relationship with byte itself is weak and “of little strategic significance”.

In the past, investment was an important way for Internet head companies to expand their territory and obtain new growth points. According to it orange data, in 2021, there were 76 foreign investments, which doubled compared with 38 in 2020, and the investment amount reached 25 billion yuan. China Newsweek combed the byte beat investment projects from 2014 to now and found that from the initial investment in entertainment media, social networks and other fields around the main business to the later expansion of enterprise services, e-commerce, education, medical treatment, real estate, finance, games and other fields, the investment territory of byte beat continued to expand.

The company’s early investment layout focused on content and social areas. In 2014, byte beat made its first move and acquired the picture sharing community tuchong.com. Since 2015, in order to coordinate today’s headline business and consolidate content creation ability, we have accelerated the investment in media information, including financial information provider “Wall Street insight” and overseas information provider “Caixin world theory”. After that, bytek made three capital injections into dailyhunt, which is known as the “Indian version of today’s headlines”, and also acquired the international news and information platform “news Republic”. Entertainment media is also the field with the largest amount of investment. From 2014 to 2021, there were 46 investment events, accounting for about 24% of the total. In the first four years of investment, the proportion of investment in this field was even close to 55%.

It can be said that in the early investment stage of byte, strategic investment has always occupied a dominant position. It is also through strategic investment that byte beat has become what the outside world calls “app factory” step by step.

Combing byte’s investment experience, it is not difficult to find that strategic investment has always occupied the leading position of byte’s investment. In the early stage, it focused on investing in entertainment media and continued to increase. With the rapid development of enterprises, doubling of revenue and improvement of valuation, the number and amount of investment are increasing year by year, and the investment field is also from the strategy related to the main business