CCTV News:This year’s 14th typhoon "Candu" (strong typhoon level) is about 165km, 28.7°N, 123.4°E, 15 (48m/s) and 945 hectopascals away from the east-south direction of Xiangshan County. It is estimated that it will move to the north-west direction at a speed of about 25 kilometers per hour, and its intensity will slowly weaken. It will pass through Zhoushan Islands this afternoon, and it may land along the coast from Pudong in Shanghai to Qidong in Jiangsu from this evening to night, or it may turn around from Hangzhou Bay to the Yangtze River estuary, and it will turn to the northeast on the 16th.

　　From heavy rain to heavy rain today.

　　There will be heavy rain tomorrow, and there will be heavy rain locally.

　　According to the forecast of the Municipal Meteorological Observatory, there will be heavy rain to heavy rain from 13th to 14th, with some heavy rain and some heavy rain on 15th. The process rainfall is 200 ~ 350, with individual rainfall above 600 (Siming Mountain area). Typhoon "train effect" can lead to a single point of heavy precipitation, and the maximum hourly rainfall intensity can reach 80 ~ 120 mm. From 13th to 14th, the coastal sea surface and Hangzhou Bay can reach 13 ~ 15, coastal area 12 ~ 14 and inland 10 ~ 12. There are still 10 ~ 12 strong winds along the coast from 15th to 16th.

　　Tidal level in Ningbo

　　At present, the main tidal stations in the city have not exceeded the alert and have not exceeded the guarantee. There have been 30-60 cm storm surge along the coast of Ningbo, and the high tide level of each coastal station did not reach the local blue warning tide level in the early morning of the 13th.

　　It is estimated that there will be 100-180 cm storm surge along the coast of Ningbo from this morning to tomorrow morning. This afternoon, the coastal areas of Zhenhai and Yongjiang Port will reach the red warning level, the northern shore of Beilun will reach the orange warning level, the southern shore of Beilun, Yinzhou, Fenghua, Xiangshan Port, Ninghai Port and the eastern shore of Xiangshan County will reach the yellow warning level, and the coastal area of Sanmenwan in Ninghai will reach the blue warning level.

　　Ningbo airport flights, passenger station shuttle bus and other information.

　　Ningbo airport

　　Affected by the 14th typhoon "Candu" this year, Ningbo Airport started the first-level response against typhoon and the first-level response against flood at 00:00 on the 13th. According to the news of Ningbo Airport on the 12th, all inbound and outbound flights of Ningbo Airport were cancelled before 19:45 on September 13th.

　　Ningbo passenger shuttle bus

　　Due to the influence of Typhoon No.14 "Candu", on September 13th, the shuttle bus at all passenger stations affiliated to Ningbo Public Transport was suspended, and the resumption time will be announced separately. Please pay attention to WeChat WeChat official account, keep abreast of the shuttle bus operation and arrange the itinerary reasonably. Passengers who have already purchased tickets for the relevant routes, please refund the tickets through the corresponding purchase channels, and the refund is free of charge. If it is inconvenient to travel in the near future, passengers can go to the refund window of the departure station before September 19 with their tickets, and they will not be subject to overdue.

　　Ningbo public transportation

　　Due to the influence of Typhoon No.14 "Candu", as of 7:30 on September 13, 2021, the city bus temporarily changed the route, shortened the line and stopped the operation, as follows:

　　First, temporarily stop driving

　　No.336,No. 336-2,No. 336-3, No.338,No. 339-1,No. 339-2, No.381 Hengxi, No.382 Qinshan, No.8 village special line and public village special line were temporarily suspended.

　　Second, temporary diversion operation

　　1, 509 road

　　Due to the road closure from the Jiangnan intersection of Academician Road to Xinhui intersection of Academician Road, the west stops of Sinopec Ningbo Engineering Company, Crown Garden and Administrative Service Center of High-tech Zone were cancelled in both directions.

　　2, 390 road

　　Due to the road closure from Jiangnan intersection of Academician Road to Xinhui intersection of Academician Road, the stops of Lee Hye-ri East Hospital West (one-way north to south), Yangfan Square West and Sinopec Ningbo Engineering Company were cancelled in both directions.

　　3, 89 road

　　Due to the road closure from Jiangnan intersection of Academician Road to Xinhui intersection of Academician Road, Sinopec Ningbo Engineering Company and the west stop of Yangfan Square were cancelled in both directions.

As the afterglow of PC Internet era, sogou is gradually withdrawing from the stage of mobile Internet after being merged into Tencent for nearly a year.

Source: the creativity of the worm

Recently, sogou Game Center official website announced that due to the company’s business adjustment, sogou Game Center will officially stop its service and operation. The company will assist users to connect with the game official and communicate the transfer matters; If the customer has unused game coins and decides not to take them, he can contact the customer service of sogou Game Service Center for a refund before 12: 00 on November 16th, 2022.

So far, at least six businesses under sogou have been shut down one after another, including sogou Map, sogou Reading, sogou Lending, sogou search App, sogou and so on. A large number of former sogou people who merged with sogou into Tencent also gradually left in the rounds of personnel optimization.

A former sogou employee revealed to Time Finance that after sogou was integrated into various business groups of Tencent, all other small businesses would be gradually shut down except the core input method and browser. And he himself, with the adjustment of business, was forced to leave in early July.

From its inception in 2004, to its split into independent companies in 2010, and its successful listing in 2017, sogou has experienced brilliant achievements, and its input method business has occupied the highest share of the national market all the year round with its first-Mover advantage. The traffic conduction mode of "input method-browser-search" three-stage rocket proposed by Wang Xiaochuan was once a classic business model for the search industry to catch up with the situation.

However, in the era of mobile internet, when there are many obstacles in cross-application jumping, the information collection and integration ability that search engines are proud of fails, and it is gradually marginalized in a new wave. As the afterglow of PC Internet era, sogou is gradually withdrawing from the stage of mobile Internet after being merged into Tencent for nearly a year.

A "Death History" of sogou

In the early morning of September 24th, 2021, sogou announced the completion of the merger with Tencent, and sogou will become an indirect wholly-owned subsidiary of Tencent, which will be delisted and continue to operate as a surviving company.

After the merger, according to the interface news report, most of the sogou business and public line teams will be merged into Tencent Watch. Tencent Platform and Content Business Group (PCG) released a new organizational structure adjustment after it entered sogou, and established "Information Platform and Service Line". QQ browser and Sogou browser have become the basic supporting platforms, and search engines such as artificial intelligence and input method have become the core business.

What happened at the same time was the immediate retreat of some marginal businesses. In September last year, sogou’s content open platform "sogou" announced that due to the company’s business adjustment, the platform would stop operating and serving on the 22nd. In October, sogou Lending App also issued a "Service Suspension Announcement".

Then it entered a short period of rest and integration. Until the first half of this year, Internet companies generally carried out actions to reduce costs and increase efficiency, and a larger-scale business contraction began.

In May this year, with a history of more than 20 years, sogou Map, the earliest Internet map service in China, was officially launched, and all related services were closed. Entering the original domain name will directly jump to Tencent Map; In July, sogou Reading also announced that it was suspended, and all users’ money was transferred to the novel balance of QQ browser. If they don’t agree or accept it, they will be regarded as giving up their rights and interests automatically.

Then, sogou’s core search business was also affected. Sogou’s last financial report before the merger showed that the search business accounted for 93% of the company’s overall revenue, and sogou’s excessive dependence on the search business was once considered as a major constraint to the company’s development.

However, at the beginning of August, sogou announced that the service of sogou search App will be officially stopped at 23: 59 on August 8, and the subsequent sogou search App will be unavailable, while the web version of sogou search can still be used. However, in the era of mobile internet, the frequency of web search engines is not as good as before.

Previously, sogou upgraded sogou search App to Bingo App. After renaming, it kept the original search engine and novel service of sogou search App, but removed the homepage information flow. Unfortunately, such measures failed to bring new vitality to sogou search. At present, Bingo App has been removed from the major app stores and withdrawn from the stage together with sogou search App.

In the second half of the year, this process will continue. A former employee of sogou told Time Finance that the graduation time of different departments is different. A large number of employees left by the end of June, and there will be another batch of personnel optimization actions by the end of September.

Being absorbed by Tencent is the best choice?

Sogou has also experienced glory.

At that time, with the order of Zhang Chaoyang, Wang Xiaochuan, who just graduated from Tsinghua University with a master’s degree, set up Sohu R&D Center. With the establishment of six people, 12 part-time college students of Tsinghua Olympic Games Training Team were invited to work on the development of search engines. Only 11 months later, in August 2004, Sohu’s own search engine "sogou" was officially launched.

However, sogou was not embraced by the market as expected. Baidu comes first, similar products, sogou is not very competitive, and it is always tepid. Until 2005, an accidental email made sogou realize the business opportunity of using search engine as input method.

A year later, sogou input method was officially published, and it was immediately praised by users for its accuracy in pinyin input and rich associative vocabulary. According to public information, with the first-Mover advantage, the user utilization rate of sogou input method reached 79.7% around 2009, far ahead of other input methods. This advantage was not surpassed by Baidu until these two years.

In the process of making input method products, Wang Xiaochuan realized that the Internet traffic portal is changing, and it is an inevitable choice for the search portal to move forward. At the same time, the input method also has natural shortcomings in the conversion of user traffic. Based on this, sogou decided to enter the browser market.

Since then, sogou’s "three-stage rocket" business model, which relies on the input method to drive the browser and the browser to drive the search, has gradually taken shape.

In 2010, Wang Xiaochuan invested in Ali, and sogou split up and developed independently. Two years later, Ali withdrew, and Tencent took a 36.5% stake in sogou for $448 million. After the transaction was completed, Tencent began to pour a lot of resources into sogou, directly merged QQ input method and SOSO into sogou, and exclusively launched WeChat search channel in sogou search to access WeChat WeChat official account.

After Tencent became a shareholder, Wang Xiaochuan and sogou ushered in a new highlight moment. In 2017, after 14 years of struggle, as the last unicorn out of the PC Internet era, sogou finally landed on the NYSE, with a market value of US$ 5.4 billion, or about RMB 37 billion.

But it is also sogou’s last glory. With the rapid development of mobile Internet, sogou began to decline gradually. According to the data of Oriental Choice, after sogou reached the highest net profit of $98.78 million in 2018, it began to shrink continuously. In 2020, there was even a huge loss of $100 million, and its market value also fell all the way, with the lowest point of only $1.134 billion.

Decline, loss, coupled with the major shareholder Sohu unwilling to fight. In the end, sogou seems to have no better choice than selling herself to Tencent. Only for Tencent, selective absorption is the best ending for sogou.

It was reported on April 19th that just now, the domestic digital-analog hybrid chip design company landed in science and technology innovation board, and its main business is power management and fast charging protocol chips, with an issue price of 24.23 yuan/share.

After the opening, the opening price of Yingjixin was 24.23 yuan/share, and then the share price fell, with the biggest drop of 9.5%. As of the date of writing, its share price is 22.31 yuan/share, down 7.92%, with a total market value of 9.3 billion yuan.

Founded in 2014, Yingjixin is currently one of the major chip suppliers in other application fields.

There are about 230 models of products generated by Yingjixin, which are used in mobile power supply, fast charging power adapter, wireless charger, car charger, TWS earphone charging bin and other products. From 2018 to the first half of 2021, its chip sales reached 1.728 billion, and the final brand customers included Xiaomi, OPPO and other manufacturers.

During the reporting period, the revenue of CIMC showed an increasing trend. The revenue of each period in 2018, 2019, 2020 and the first half of 2021 was.

Yingjixin has no controlling shareholder, and the actual controller is Huang Hongwei, chairman and general manager of Yingjixin. In this IPO, CIMC plans to raise 400 million yuan, which will be used for three projects: development and industrialization of power management chips, development and industrialization of fast charging chips and supplementary liquidity.

▲ Fund-raising of Yingji Core Program

Yingjixin was established on November 14th, 2014, when its shareholder was Qiu Fangfang. According to the prospectus, Qiu Fangfang was the spouse of Zeng Lingyu, a member of the founding team.

As the founding team is starting a business for the first time and there are many uncertainties, Qiu Fangfang is jointly selected as the nominal shareholder, and the trustees include 16 people including Huang Hongwei, Ding Jiaping and Zeng Lingyu.

▲ Huang Hongwei, Chairman and General Manager of Yingjixin

It is worth noting that. Among them, LING HUI worked as general manager, general manager and senior vice president of the Internet of Things Division in China Resources Siwei Technology (Shanghai) Co., Ltd., Guangzhou Anbao Electronics Co., Ltd. and Shenzhen Bettler Electronic Technology Co., Ltd., and joined Yingjixin as technical director in July 2020.

Among the other four people, Huang Hongwei, Chairman and General Manager of Yingjixin, Dai Jialiang, Director of System R&D Department, Zeng Lingyu, Deputy Director of IC R&D Department, and Tang Xiao, Deputy Director of IC R&D Department, all worked together in Xinhengfu Technology, a subsidiary of Juli Integration and Fuman Electronics.

In 2013, 10 people, including Huang Hongwei, left Torch Power Integration and planned to start a business in the field of power management chips, but they lacked financial support. Fuman Electronics plans to enter the power management chip market through its Xinhengfu technology. So the two sides jointly created Xin Yiman, and Huang Hongwei and others joined Xinhengfu Technology.

After the establishment of Xinyi Man, the cooperation was finally terminated in October 2014, and the company was cancelled in June 2016.

However, this cooperation has also brought about a long-term lawsuit between Fuman Electronics and CIMC. Fuman Electronics, its subsidiaries Xinhengfu Technology and Liu Wenjun initiated six lawsuits against Yingjinxin, and there were disputes over intellectual property rights and technology patents with Yingjinxin.

According to a source quoted by Jiwei.com, in the fourth quarter of 2018, Fuman Electronics was optimistic about the advantages of Yingjixin in the charging treasure and wireless charging market, and planned to acquire Yingjixin. However, after the negotiations failed, Fuman Electronics began to dig people. The earliest lawsuit of Fuman Electronics against Yingjixin also began in November 2018.

At present, among the six lawsuits filed by Yingjixin, Fuman Electronics and Liu Wenjun, five lawsuits have reached a settlement, and the plaintiff has withdrawn the lawsuit and closed the case. The administrative lawsuit of Fuman was decided by Beijing Intellectual Property Court in January, 2022, which rejected the plaintiff’s claim of Fuman Electronic Litigation, and Fuman Electronic refused to accept it and filed an appeal. The case is still being accepted by the Supreme People’s Court.

During the reporting period, the revenue of CIMC showed an increasing trend, with revenue of 217 million yuan, 348 million yuan, 389 million yuan and 356 million yuan in the first half of 2018 -2021 respectively, with a compound growth rate of 34.04% from 2018 to 2020.

In terms of profit, the net profit of Yingjixin in the first half of 2018 -2021 is.

▲ Changes in revenue and net profit of CIMC in the first half of 2018 -2021.

The main source of revenue for CIMC is that from 2018 to 2020, the revenue of CIMC power management chips will increase from 194 million yuan to 268 million yuan.

However, with the growth of its fast charging protocol chip revenue, its power management chip revenue ratio has dropped from more than 90% in 2018 to 59.38% in the first half of 2021.

▲ Proportion of various businesses of CIMC in the first half of 2018 -2021.

From 2018 to the first half of 2021, the R&D expenses of Yingjinxin were 33.2275 million yuan, 44.2605 million yuan, 50.65 million yuan and 38.7085 million yuan, respectively, accounting for 15.34%, 12.72%, 13.01% and 10.88% of the operating income in the same period.

By the end of June, 2021, CIMC had a total of 61.48% employees. It has obtained 79 domestic patents, including 49 invention patents and 30 utility models. Yingjixin also owns 115 registration certificates of integrated circuit layout design and 11 computer software copyrights.

During the reporting period, the main customers of Yingjixin were basically stable, and most of them were dealers, including Shenzhen Zhihengtong Electronics Co., Ltd. and Shenzhen Zhuorui Sitron Technology Co., Ltd.. Through distributors, its ultimate brand customers are.

▲ Top five customers of CIMC in the first half of 2018 -2021

As a chip design company, the main procurement projects of CIMC include. According to the prospectus, the main wafer supplier of Yingjixin is, and the main supplier of packaging and testing services is Tianshui Huatian Technology.

▲ The top five suppliers of Yingjixin

From the perspective of the whole industry, the global power management chip market is highly concentrated, and its market share is mainly occupied by international enterprises such as Texas Instruments, Infineon, Power Integrations and MPS.

At present, China power management chip companies such as Shengbang, Xinpengwei and Jingfeng Mingyuan have successfully landed in the capital market and gradually have a certain scale of operation. However, domestic manufacturers have a certain gap with international head manufacturers in market share and technical strength.

▲ Market share of Yingjixin and comparable domestic companies in the same industry in power management chips.

According to the prospectus, there is a gap between Yingjixin and overseas famous brands in terms of business scale and overall technical strength. However, in the product field in which it focuses, the performance index of Yingjinxin products is similar to that of Texas Instruments, PI, Infineon and other corresponding products, and it reaches or even exceeds the products of overseas companies in the same industry in terms of integration, compatibility and the number of supporting agreements.

The power management chip of CIMC is mainly that this scheme adopts a single mixed digital-analog SoC chip, which can replace the functions that traditional digital and analog chips can achieve with a mixed digital-analog SoC chip.

Through this mixed digital-analog SoC integration technology, CIMC can integrate digital chips, analog chips, systems and embedded software into one SoC chip, shortening the development cycle of customers’ finished products and reducing production costs.

In terms of fast charging protocol chips, the products of Yingjixin have been authorized by mainstream platforms such as Qualcomm, MediaTek, Spreadtrum, Huawei, Samsung, OPPO, Xiaomi and vivo. Its products not only support all five kinds of fast charging protocols of domestic communication terminals,

Compared with domestic comparable companies in the same industry, the gross profit margin of Yingjixin is low, which is mainly related to the differences in product structure, functional positioning and application fields, according to the prospectus. Compared with the power management chips of comparable domestic companies in the same industry, the gross profit margin of power management chips of Yingjixin is in the middle-upper level.

▲ Gross profit margin of power management chips of Yingjinxin and comparable companies in the same industry from 2018 to the first half of 2021.

Due to the scattered equity, Huang Hongwei, its chairman and general manager, directly holds 1.21% of the shares of Yingjixin, and indirectly controls 33.28% of the shares through three employee stock ownership platforms: Zhuhai Yingji, Zhuhai Yingxin and Chengdu Yingjixin Enterprise Management, and controls a total of 34.39% of the shares.

▲ Equity structure of Yingjixin

Shareholders who own more than 5% of the shares of Yingjixin include Shanghai Wuyuefeng, Beijing Core Kinetic Energy and Gongqingcheng Keyuan, with 27.61%, 9.59% and 6.63% of the shares respectively.

In addition, funds such as Shanghai Science Venture Capital and Suzhou Juyuan Casting Core also hold some shares of Yingjixin.

▲ Share capital of Yingji Core

The power management chip is a chip that is responsible for the transformation, distribution, detection and other control functions of the required electric energy in the electronic equipment system. It is the power supply center and link of all electronic products and equipment, and is an indispensable chip product in the fields of consumer electronics, automotive electronics and new energy.

At present, international leaders such as Texas Instruments and Infineon still dominate the power management chip market. At the same time of domestic chip substitution, domestic power management chip enterprises should carry out technological innovation to win domestic and even foreign market share. As a new domestic power management chip enterprise, Yingjixin’s products adopt mixed digital and analog chips which are different from the traditional ones, and its listing may help to increase the market share of domestic power management chips.

At present, with the rapid expansion of the power management chip market, many new chip companies have been founded or entered this field. If we can’t grasp the development trend and market dynamics of the industry, there are certain operational risks.

Cctv news(Reporter Wang Ruxi): On the 21st, there were obvious rainy weather in parts of the central and western Sichuan Basin, the eastern part of the northwest, the western part of Huanghuai, the eastern part of the south of the Yangtze River and the northeast. According to the latest forecast of the Central Meteorological Observatory, on the 22nd, there were heavy rains in parts of northeastern Sichuan Basin, northwestern Chongqing and central Henan, and there were heavy rains in central Henan.

The Henan Meteorological Observatory continued to issue a red rainstorm warning at 13: 20 on August 22, 2021. It is estimated that in the next three hours, the accumulated precipitation in Pingdingshan, Luohe and Xuchang, the southern part of Zhengzhou and Kaifeng, the northern part of Nanyang and the western part of Zhoukou will reach more than 100 mm. According to the actual precipitation ranking of the Central Meteorological Observatory, at 15: 00 on the 22nd, Henan accounted for 8 places in the top ten precipitation areas in China.

On the evening of August 21, many citizens in Zhengzhou parked their private cars on the viaduct in response to the rainstorm. In response, the Zhengzhou traffic police said: "The traffic police department will not illegally handle the temporary parking of vehicles on roads and viaducts due to emergency flood control, reminding the general public not to affect road traffic as much as possible when parking vehicles. After the rainstorm, it is necessary to transfer the vehicles to a position that does not affect traffic in time."

At noon on August 22, Zhengzhou City Defense Office issued a notice requesting 67 bridges and culverts tunnels and 23 small railway bridges and culverts in the urban area to start measures to block traffic and implement traffic control. According to Zhengzhou traffic police, at present, the entrances and exits of the third section of the Beijing-Guangzhou tunnel, the future road tunnel and the Hongzhuan road tunnel have been closed, and the duty personnel are on duty. After the rain increased, Zhengzhou traffic police arranged all police forces to arrive at key intersections and road sections such as culverts, bridges, ponding points, underpass tunnels, etc. to carry out traffic security work, set up warning tape at any time according to the rainfall situation, put warning signs and reflective cones, and fully cooperate with relevant departments to carry out drainage rescue operations.

Moreover, in response to heavy rainfall, China Railway Zhengzhou Bureau Group Co., Ltd. stopped 59 passenger trains for one day from 0: 00 on August 22. Among them, there are 14 through buses and 45 in-line buses. According to the official Weibo news of Zhengzhou Public Transport Corporation and the No.6 Order of Zhengzhou Flood Control and Drought Relief Headquarters, all bus lines in Zhengzhou stopped operating on the 22nd and 23rd.

On August 21, the Flood Control and Drought Relief Headquarters of xinzheng city, Henan Province issued an emergency notice, saying that from 18: 00 on August 21 to 12: 00 on August 23, the whole city took emergency measures to avoid risks. Except for emergency rescue and people’s livelihood security personnel, the whole city stopped work, suspended classes, stopped production, closed business and stopped business. Enterprises that are temporarily unable to stop production due to special reasons should report to the Municipal Flood Control and Drought Relief Headquarters in time and take emergency preventive measures.

According to the official news from Weibo, Propaganda Department of Zhengzhou Xingyang Municipal Committee, Xingyang City has started flood control level I response since 14: 00 on August 21, 2021. All enterprises involved in high temperature and high pressure will stop production, all outdoor operations will stop, shops along the street, underground shopping malls will stop business, all public transport will stop, and scenic spots, dangerous roads and underground culverts in its jurisdiction will be closed. For people living in dangerous areas such as mountain flood geological disaster areas, dangerous reservoirs, downstream of warping dams, low-lying areas prone to waterlogging, damaged houses, etc., organize in advance to avoid risks and move to safe areas.

According to the forecast of the meteorological department, the strongest rainfall in Zhengzhou may occur in the afternoon to the first half of the night. In this regard, Zhengzhou has launched a Class II flood control response. Up to now, Zhengzhou has urgently transferred 240,000 people to avoid danger, and the local rainfall is still going on. All relevant departments are also waiting for it.