On 15 May, the SNSD now received a petition by the Ma’s Family Name Unit for the right to security in respect of the SThuat (principle), which is now accepted by an intensive lawyer. The new wave Human Rights Platform will focus on the claims process of the Unit’s population, and the related rights will continue to be centralized.

There are currently four professional lawyers available for the new waves of PSD, which currently has 27 rights for SThua.

Conditions for the claim for STWh

The shares are purchased between 2023-04-28 and held at 2023-04-28. Admission to a lawyer:

2021-04-30 to 2023-04-28 bought and held on 2023-04-28. Admitted to a lawyer: São Paulo, Lee Choi

How can the right be rapidly protected?

The platform, which has multiple access points, is traceable to @ new wave securities, the Micro-Caucasing New Dealers Fund, access to new waves of finance through customers, new waves, etc.! You are required to complete the personal name, contact, select the claimant company and claim reasons, act as attorney, and carry out the stock statement. After the submission of the writ of rights, the operator will have audited the bill and, seven days after the approval, the lawyer will have been successful in receiving the bill, followed by a lawyer.

Complementing the right of reply:

Please complete detailed personal information. 2 The billings uploaded to the platform must be clear and identifiable. 3 The billing should contain key information, such as stock information, transaction time, volume of transactions. 4 The billing must be in the JPG format or in electronic form for the billing of securities companies with legal effect.

More detailed information on access to the new wave equity home page: http://wq.finance.sina.com.cn/

Introduction to the new waves Human Rights Platform: We are a public rights platform for equity. You have access to the relevant information on infringements by listed companies at this platform on a fast-track basis, a key to your need for protection; information about corporate irregularities may be reported to the platform or your doubts may be raised. The platform welcomes the presence of more professional lawyers! We can be found on the equities of the damaged equity group to the new wave PFIP registration company: http://wq.finance.sina.com.cn/microbe concerns@ new securities, the Micro-Caucasing New Dealers Fund, the 100 search for new waves, access to customers of new waves, and the first page of new finances!

Participation in the defence, the presence of lawyers in a detailed two-dimensional code will continue to be a sounding for investors!

Family benefits, 60 days of experience with services, a one-to-one service!

In short, we have now arrived in Rome, then we have to fly to Frankfurt, then to Leipzi and finally to Berlin, a bus.

The BB team managers also shared their journeys.

On the train we are now going from Hamburg to Berlin, and everything is now good. Rains are now taking place outside the window, and it is hoped that it will be smooth.

New wave declaration: the posting of this text on the new wave does not imply approval of its views or confirmation of its description for the purpose of communicating additional information.

Since Ramos joined Paris as a free agent last summer, things have not developed as expected, and even suggested that Paris terminate his contract. During this period, Ramos only participated in five first-team games on behalf of the club, and only started three times. He was plagued by injuries most of his time in Paris.

However, greater Paris coach bocettino insists that Ramos still plays an important role in this season’s games, especially against his former club.

Bocettino stressed the importance of Ramos at his pre match press conference on Friday, saying: “it is clear that players like Ramos in the Champions League can provide good experience and advice to his teammates. It would be great if he can be included in the squad at any time. We will wait and see and evaluate him in the next few days.”

On March 1, 2022, baidu group (NASDAQ: BIDU; HK: 09888) released the performance announcement for the fourth quarter and the whole year of 2021.

Baidu’s revenue in fiscal year 2021 was 124.5 billion, of which non advertising revenue was 43.6 billion, accounting for 35%; In the fiscal year, the EBITDA was 24.9 billion yuan and the profit margin was 20%.

According to the closing price on March 4, Baidu’s market value was US $52 billion, down 58.5% from the peak in February 2021. Baidu, with a price to book ratio of less than 1.6 times, could not fall.

Who is driving revenue growth

1. Iqiyi once saved the car

Baidu divides its revenue into “Baidu core” and “iqiyi”. In 2021, the total revenue was 124.5 billion, with a year-on-year increase of 16.3% (Note: the total revenue was confirmed after offsetting the transactions between Baidu core and iqiyi).

In 2015, baidu core accounted for 92.2% of total revenue; To 73.5% in 2020;

In 2021, Baidu’s core revenue was 95.2 billion, accounting for 76.4% of the total revenue.

In recent years, iqiyi’s growth rate has gradually dropped, and its contribution to Baidu group’s revenue growth has been decreasing:

In 2016, iqiyi’s revenue increased by 113% to 11.24 billion, while Baidu’s core revenue decreased by 2.9% year-on-year. Driven by iqiyi, baidu group’s revenue increased by 6.2%;

In 2017, iqiyi’s growth rate soared to 54.6%, but Baidu’s core growth rate rebounded to 13.8%. As a result, baidu group’s revenue increased by 20.2%;

In 2018, iqiyi’s revenue exceeded 25 billion, with a growth rate of more than 40%. Baidu’s core growth rate rose slightly to 15.6%, and Baidu group’s revenue increased by 20.6%. The contribution of the two main businesses to the group’s revenue growth is “four or six”, and the contribution rate of iqiyi is slightly higher than 40%.

In 2019, the revenue growth of Baidu core and iqiyi was 1.8% and 16% respectively, and iqiyi’s contribution rate reached 78%;

In 2020, in the dark hour, the two major businesses “shut down”, Baidu’s core revenue decreased by 1.3% and iqiyi increased by 2.5%; The group’s revenue decreased slightly by 0.3%;

In 2021, Baidu’s core growth rate rebounded to 20.9%, iqiyi’s growth rate was 2.9%, and Baidu group’s revenue increased by 16.3%.

Iqiyi is close to the “ceiling”, and the revenue growth is in line with the objective law. By raising the cost of content, increasing marketing investment and forcing large revenue, I’m afraid the gain is not worth the loss.

Iqiyi, once a “meritorious rescue”, is no longer the “engine” of Baidu’s revenue growth.

2. The proportion of advertising revenue decreased gradually

Baidu started from online marketing (i.e. advertising), and Baidu core and iqiyi provide such services.

In 2016, the advertising revenue of Baidu core and iqiyi was 57.9 billion and 5.7 billion respectively, accounting for 90.1% of the total revenue;

In 2018, the advertising revenue of Baidu core and iqiyi was 72.6 billion and 9.3 billion respectively, accounting for 80.1% of the total revenue# 10 percentage points in two years#

In 2020, the advertising revenue of Baidu core and iqiyi was 66.3 billion and 6.8 billion respectively, accounting for 68.3% of the total revenue;

In 2021, the advertising revenue of Baidu core and iqiyi was 73.9 billion and 7.1 billion respectively, accounting for 65% of the total revenue;

There are three points worth paying attention to the changes of Baidu’s advertising revenue:

First, the position of advertising business in Baidu is “irreversible” and has a further downward trend;

Second, Baidu’s core advertising revenue may have room to rise. Iqiyi’s focus has shifted to member services. The advertising business will not give up, but the revenue has stopped growing;

With the rise of cloud computing, intelligent driving, intelligent hardware and other businesses, the declining proportion of advertising revenue is the general trend.

Non advertising revenue

The “ceiling” of online marketing is not high!

In 2021, China’s advertising industry will exceed 1 trillion, and the Internet accounts for about 50%. Baidu, Tencent, byte beat and other Internet giants and countless small and medium-sized players competed for 500 billion advertising budget.

1. Three major non advertising revenue

In 2021, the proportion of advertising revenue decreased to 65%, and the non advertising revenue reached 43.6 billion, with a considerable scale.

Non advertising revenue mainly includes iqiyi member services, smart cloud and content distribution.

Member services and content distribution are all businesses of iqiyi: the revenue from Member Services exceeded 10 billion in 2018, reached 16.5 billion in 2020 and increased slightly to 16.7 billion in 2021; Content distribution revenue reached 2.9 billion in 2021.

In 2018, smart cloud revenue reached 3 billion; 6.4 billion to 2019; Revenue of 9.2 billion in 2020;

In 2021, smart cloud revenue reached 15.1 billion, a year-on-year increase of 64%. By the end of 2021, flying plasma had served 157000 enterprise customers and 4.06 million developers, creating nearly 480000 models.

In 2021, member services, content distribution, smart cloud and other non advertising revenue accounted for 35% of Baidu’s revenue.

Baidu doesn’t want to “curl up” under the ceiling of Internet advertising, and has already put it into action. The proportion of non advertising revenue reached 35% in 2021, which means that the “top third ceiling” has been replaced.

2. Pregnant non advertising business

Baidu’s financial report also disclosed two non advertising businesses: intelligent driving and intelligent hardware (the main products are intelligent speakers, giant screen TV and translation pen)# Intelligent driving deserves special attention#

Baidu’s intelligent driving strategy is a two pronged approach:

First, online car Hailing service. Turnip Express has started operations in Beijing, Chongqing and Yangquan to obtain valuable data and increase the confidence of the government and users in Baidu’s driverless technology. The earliest in Beijing (November 25, 2021), Q4 unmanned car orders reached 21.3 million in 2021. In 2022, Chongqing (February 18) and Yangquan (February 27) started charging operation successively.

Second, alliance with automobile manufacturers. Baidu and Geely have established a joint venture “Jidu”. At present, it has completed the round a financing of US $400 million, and the intelligent electric vehicle will be booked in 2022. In addition, it is reported that BYD chose Baidu as its intelligent driving supplier, and the models equipped with Baidu intelligent driving products will be put on the market soon. (Note: BYD’s sales volume of new energy vehicles in 2022 is about 1

This afternoon, Jia Jingdong, vice president of vivo brand and general manager of brand and product strategy, responded that the mission of the original nex series to explore and innovate new experiences and forms will not disappear and will be carried by the flagship product X series.