24-hour news update Page 17

In the early morning of February 13, Beijing time, U.S. stocks fell in midday trading on Thursday, with the Dow Jones Industrial Average falling more than 600 points. Silver and crude oil prices tumbled. Traders are weighing earnings reports from major companies including Cisco Systems and McDonald's. The number of people filing for unemployment benefits in the United States fell to 227,000 last week.

The Dow fell 609.34 points, or 1.22%, to 49512.06 points; the Nasdaq fell 355.58 points, or 1.54%, to 22710.89 points; the S&P 500 fell 84.95 points, or 1.22%, to 6856.52 points.

As of press time, spot silver has fallen 11% and is now at $74.80 per ounce, while WTI crude oil has fallen by 3% and is now at $62.69 per barrel.

Cisco Systems shares fell 11.7% after the maker of networking hardware such as switches and routers issued disappointing guidance for the current quarter. The company's revenue in the second fiscal quarter exceeded expectations by 10% year-on-year, and the growth of AI infrastructure orders from hyperscale cloud vendors "significantly accelerated" to US$2.1 billion. Revenue guidance for this fiscal year was raised by at least more than 1%, and revenue guidance for the third fiscal quarter was higher than expected. However, gross profit margin guidance for the third fiscal quarter fell instead of rising, with a maximum year-on-year drop of more than 3 percentage points to 65.5%, which was wider than the decline in the second fiscal quarter.

McDonald's announced earnings that beat expectations. The company reported fourth-quarter revenue of $7.01 billion, beating consensus estimates of $6.81 billion, while adjusted earnings per share of $3.03 was in line with analysts' expectations. Global comparable sales grew 5.7% in the quarter, significantly exceeding analysts' average estimate of 3.7%. U.S. comparable sales rose 6.8%, reversing a 1.4% decline in the same quarter last year.

U.S. stocks closed lower on Wednesday, with the Dow Jones Industrial Average closing slightly down 0.1% and the Nasdaq Composite Index down about 0.2%. The S&P 500 ended the day slightly lower. The January non-farm employment report released that day showed that the number of jobs increased significantly by 130,000 last month, which was much higher than economists' expectations and much higher than the downwardly revised increase in December. The unemployment rate edged down to 4.3% from 4.4%.

The January non-farm payrolls report provided some relief to investors who had worried that the report would show a decline in the labor market. A series of recent data indicate that economic growth is slowing down in a "no hiring, no layoffs" environment.

But the strong jobs data also cast a shadow on the Fed's interest rate outlook. If high inflation remains a problem, that could mean fewer rate cuts than traders would like.

However, Moody's chief economist Zandi said don't be too reassured by this set of optimistic data. He does not think growth can be sustained. Zandi has repeatedly warned that the foundation of the U.S. economy is unstable and may slip into recession at any time. He posted on the X platform on Wednesday that the latest employment data did not alleviate his concerns at all.

He said: "The labor market remains fragile and extremely vulnerable to shocks. Yes, non-farm employment increased by 130,000 in January, but considering the significant downward revision of historical data, employment has not grown at all since Trump significantly increased tariffs in April last year."

Zandi also emphasized that almost all job growth in January came from the health care industry, which he believed did not bode well for the overall U.S. economy.

"This will put a lot of pressure on Friday's CPI report because if the data is dovish, at least the market can understand that the inflation part of the Fed's considerations is cooling down," said Tom Lee, director of research at Fundstrat Global Advisors.

"Certainly now if the job market is showing quite a bit of resilience, that's a relief from a macro perspective because at least we're not seeing a recession," he said.

In terms of economic data on Thursday, the number of people filing for unemployment benefits in the United States fell to 227,000 last week, a smaller-than-expected decline.

The U.S. Department of Labor announced on Thursday that the number of initial jobless claims fell by 5,000 to 227,000 on a seasonally adjusted basis for the week ended February 7. Economists polled by Reuters had expected 222,000 initial claims for the week.

Last week's decline offset only a fraction of the previous week's surge, which was blamed on the snowstorms and freezing weather that swept much of the country and a normalization after seasonal fluctuations late last year and early 2026.

The report shows that in the week ended January 31, continuing unemployment benefits data, which is a hiring indicator, increased by 21,000 people to 1.862 million people after seasonality adjustment, which is also affected by seasonal fluctuations.

Although the number of long-term unemployed persons fell in January, the median duration of unemployment remains close to where it was four years ago. Fresh college graduates are facing severe employment difficulties.

Securities code: 002579 Securities abbreviation: Zhongjing Electronics Announcement Number: 2026-010

Huizhou Zhongjing Electronic Technology Co., Ltd.

2025 Employee Stock Ownership Plan Holders Meeting

Announcement of resolutions of the first meeting

The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete, and that there are no false records, misleading statements or major omissions.

The 2025 Employee Stock Ownership Plan Holders Meeting of Huizhou Zhongjing Electronic Technology Co., Ltd. (hereinafter referred to as the "Company") was held on February 11, 2026 in a combination of on-site and communication methods. The convening, holding and voting procedures of this meeting are in compliance with relevant laws, regulations and the company's "2025 Employee Stock Ownership Plan (Draft)" and "2025 Employee Stock Ownership Plan Management Measures". The meeting reviewed and approved the following proposals:

1. Proposal on the establishment of the company’s 2025 employee stock ownership plan management committee

According to the company's "2025 Employee Stock Ownership Plan (Draft)" and "2025 Employee Stock Ownership Plan Management Measures" and other relevant regulations, the current stock ownership plan has established a management committee to exercise shareholder rights and other powers on behalf of the holders. The Management Committee consists of 3 members, including a director of the Management Committee. The term of office of the members of the Management Committee shall be the same as the duration of the current share ownership plan.

2. Proposal on the election of members of the 2025 Employee Stock Ownership Plan Management Committee

Mr. Wen Zhen, Mr. Song Xiaogang and Ms. Meng Wei were elected as members of the 2025 Employee Stock Ownership Plan Management Committee. On the same day, the company's 2025 Employee Stock Ownership Plan Management Committee held its first meeting and elected Mr. Song Xiaogang as the director of the management committee, with a term that is the same as the duration of the current stock ownership plan.

Among the above-mentioned committee members, Mr. Wen Zhen and Mr. Song Xiaogang are senior managers of the company. Otherwise, the above-mentioned committee members have no related relationship with shareholders holding more than 5% of the company's shares, actual controllers, other directors and senior managers of the company.

3. Proposal on authorizing the Company’s 2025 Employee Stock Ownership Plan Management Committee to handle matters related to the current stock ownership plan

In order to ensure the smooth progress of the current share ownership plan, the Management Committee is authorized to handle matters related to the current share ownership plan. The specific authorization matters are as follows:

(1) Authorize the management committee to open securities accounts, capital accounts and other related accounts for the employee stock ownership plan;

(2) Authorize the management committee to supervise the daily management of the employee stock ownership plan;

(3) Authorize the management committee to exercise shareholder rights;

(4) Authorize the management committee to be responsible for the liquidation and property distribution of the employee stock ownership plan;

(5) Other matters that the Management Committee deems necessary to convene a holders’ meeting for consideration.

Huizhou Zhongjing Electronic Technology Co., Ltd.

February 12, 2026

Securities code: 002579 Securities abbreviation: Zhongjing Electronics Announcement Number: 2026-009

Huizhou Zhongjing Electronic Technology Co., Ltd.

Regarding the completion of the company’s 2025 employee stock ownership plan

Announcement of Non-Trading Transfer and Progress

The company and all members of the board of directors guarantee that the information disclosed is true, accurate and complete, and that there are no false records, misleading statements or major omissions.

Huizhou Zhongjing Electronic Technology Co., Ltd. (hereinafter referred to as the "Company") held the 10th meeting of the sixth board of directors and the first extraordinary general meeting of shareholders in 2026 on December 26, 2025 and January 13, 2026 respectively, and reviewed and approved the "Huizhou Zhongjing Electronic Technology Co., Ltd. 2025 Employee Stock Ownership Plan (Draft) and its Summary", "Huizhou Zhongjing Electronics Huizhou Zhongjing Electronic Technology Co., Ltd. 2025 Employee Stock Ownership Plan Management Measures" and other relevant proposals. At present, the employee stock ownership plan has completed the non-transaction transfer, and the relevant progress is now announced as follows:

1. Employee stock ownership plan share transfer situation

The source of shares in the current employee stock ownership plan is the 3.0512 million shares repurchased through the repurchase plan reviewed and approved by the company at the third meeting of the sixth session of the Board of Directors.

The company has opened a special securities account for the current stock ownership plan at the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd. The name of the securities account is "Huizhou Zhongjing Electronic Technology Co., Ltd. – 2025 Employee Stock Ownership Plan", and the securities account number is 08995*****.

The company has recently received the "Securities Transfer Registration Confirmation" issued by the China Securities Depository and Clearing Co., Ltd. Shenzhen Branch. The 3.0512 million shares of the company's stocks held in the company's repurchased special securities account have been transferred to the "Huizhou Zhongjing Electronic Technology Co., Ltd.-2025 Employee Stock Ownership Plan" securities account without trading.

The source of the above-mentioned non-trading transfer shares and the total transfer amount are consistent with the content of the current shareholding plan reviewed and approved by the company’s shareholders’ meeting.

2. Recognition of related relationships and concerted actions involved in employee stock ownership plans

There is no concerted action agreement or concerted action arrangement with the company's largest shareholder under the current shareholding plan. According to the shareholding plan disclosed by the company, there are no more than 32 holders of the current shareholding plan, including a total of 3 directors and senior managers of the company. Except for the above three people, the current shareholding plan has no related relationship with the company's largest shareholder and other directors and senior managers. There is no concerted action agreement or relevant arrangements for concerted action.

3. Documents available for inspection

1. "Securities Transfer Registration Confirmation" issued by China Securities Depository and Clearing Co., Ltd. Shenzhen Branch.

Huizhou Zhongjing Electronic Technology Co., Ltd.

February 12, 2026

This combination of satellite images shows KK Park on the Myanmar-Thailand border on September 11, 2025, and November 14, 2025.

Recently, the Takeo Province government of Cambodia issued an official notice announcing that a large-scale park in Bati district suspected of engaging in telecommunications network fraud (telecom fraud) had been seized and completely closed by the Provincial Government's Joint Committee to Combat Telecommunications Network Fraud on July 22, 2025.

The notice disclosed that the park covers an area of ​​about 5 hectares (equivalent to 7.5 standard football fields) and has huge internal facilities, including 1 warehouse and 13 buildings with a total of 348 rooms. It can be called one of the largest electronic fraud strongholds seized in Cambodia in recent years. The park is suspected of being used to organize cross-border telecommunications fraud, human trafficking and forced labor. Most of the victims are citizens from China, Vietnam, India, Indonesia and other countries who were deceived into Cambodia.

The Takeo Provincial Government stated that in order to facilitate subsequent case management and victim processing, it has decided to transfer the entire park building to the Cambodian Ministry of Interior to be used as a temporary detention center for foreigners, mainly for centralized management before repatriation. Relevant specific operations will be handled by the General Department of Immigration of Cambodia to ensure compliance with international human rights standards and repatriation procedures.

This move is the latest action taken by the Cambodian government to crack down on “scam compounds” since 2025. Since July 2025, Cambodia has launched a large-scale raid in many provinces across the country, arresting thousands of people and closing nearly 200 fraud strongholds (including Sihanoukville, Phnom Penh and border areas). Prime Minister Hun Manet has repeatedly ordered the "complete dismantling of all fraud networks" and strengthened cooperation with Thailand, China, South Korea and other countries to repatriate victims.

However, Cambodia’s electronic fraud industry is deeply rooted, and many parks are controlled by Chinese-backed criminal groups and are involved in serious crimes such as human trafficking, torture, and organ trafficking. A 2023 report by the United Nations High Commissioner for Human Rights estimated that approximately 100,000 people in Cambodia were forced to engage in fraud. Although progress has been made in the recent seizure operations, experts point out that some of the parks have been moved to the border with Myanmar or Laos, making it still difficult to crack down.

(Comprehensive report from the official announcement of the Takeo Provincial Government of Cambodia)

If you have been to Pakistan in the past year, you may have been deeply impressed by a special landscape – dark blue solar panels shining on the rooftops of Islamabad, Lahore, Karachi and other big cities, and also dotting the front and back of houses in rural areas across the country.

For this country of more than 240 million people, which has long been plagued by high electricity prices and blackouts, an unprecedented solar revolution is taking place.

In early February, Pakistani Prime Minister Shahbaz announced the launch of a solar panel program in the Gilgit-Baltistan region, one of the most remote areas of the country, aiming to alleviate the long-standing local power shortage problem with clean and sustainable energy solutions. Due to the complex terrain and difficult climate conditions in this area, it has been difficult to connect to the national grid, and the power supply situation is severe. According to the plan, the government will provide solar systems to households and small and medium-sized enterprises to ensure stable and reliable power supply.

According to Ember, a global clean energy transition think tank, Pakistan imported 17 gigawatts of solar panels in 2024, more than double the previous year. In the first nine months of 2025, imports have reached 16 GW, making it the world's second largest importer of solar panels, with more than 95% coming from China. Pakistan is experiencing one of the most rapid expansions of solar energy on the planet, both in terms of installed capacity and speed of adoption.

On July 2, 2025, in Karachi, Pakistan, technicians installed solar panels on the roof of a factory in the city. Visual China data map

Khurram Lalani, founder of Resource Future, an energy consulting company based in Islamabad, told The Paper (www.thepaper.cn) that compared with other countries in the Global South that are rapidly developing solar energy, what is special about Pakistan is that "no country can promote solar energy at such a speed and scale, and this is completely a bottom-up revolution. It is not led by the government or driven by large enterprises, but driven by ordinary people and market forces."

“The government didn’t even know the scale of the massive solar imports until some time after they happened,” said Muhammad Basit Ghauri, director of special initiatives and China projects at Renewables First, a Pakistani renewable energy think tank.

The background of this change is the global trend of transition to clean energy. In 2023, at the COP28 conference in Dubai, countries reached a consensus: to phase out fossil fuels in a fair, orderly and equitable manner, and to triple the installed capacity of renewable energy and double energy efficiency by 2030. The energy sector accounts for approximately 75% of global carbon dioxide emissions and is a key area for mitigating climate change. In 2024, more than 90% of the world's new electricity installed capacity will come from renewable energy, and the same trend will continue in 2025.

In this process, countries in the Global South are becoming the main driver of solar energy growth. According to analysis by institutions such as Global Energy Monitor, solar power generation in BRICS countries accounts for more than half of the global total. China plays a key role in this. China’s green technologies are reshaping the energy and market landscape in many places around the world—Pakistan is one of the most compelling stories in this global trend.

On December 14, 2025, in Karachi, Pakistan, technicians were performing maintenance work on newly installed solar street lights. Visual China data map

Why Pakistan?

In 2025, a landmark moment occurred in Pakistan's energy history: During the peak summer power consumption period, solar power generation exceeded the national grid for the first time. According to the Pakistan Institute of Policy Research for Equitable Development, the national grid's power generation remained at 28-30 GW in the quarter, while consumer power generation through distributed solar systems reached 33 GW. 77% of electricity users mainly rely on their own solar installations to meet their daily electricity needs, while only 23% still rely on the State Grid.

In terms of regional distribution, the densely populated Punjab Province ranks first in the country with approximately 11 GW of installed capacity, accounting for one-third of the national total; Sindh Province follows with 6.7 GW. Nearly half of the villages in the two provinces have installed solar systems. According to Ember data, in the first four months of 2025, solar energy has accounted for 25% of Pakistan's total power generation, much higher than the global average of 8%, and higher than China (about 11%), the United States (8%) and Europe (7%).

At present, the total installed solar capacity in Pakistan is estimated to have reached about 30 GW, and most of them are distributed systems. Musa, a member of the Pakistan Solar Energy Association, compared this process to the rise of social media: "Just like TikTok and Instagram allow ordinary people to bypass traditional media and become content producers, solar energy allows people to change from mere electricity users to a combination of producers and consumers. Once batteries are added, the power is in the hands of consumers."

In Ghauri’s view, to understand this “solar revolution”, we must go back to Pakistan’s energy development trajectory over the past few decades.

Pakistan has long had insufficient electricity supply, while demand continues to rise. From 2010 to 2011, the average daily power outage time across the country was as high as 8-12 hours, and the total installed capacity was only 10,000 to 12,000 megawatts. From 2014 to 2015, the first phase of the China-Pakistan Economic Corridor (CPEC) was launched, and energy became a priority area. A large number of coal-based power projects were launched, with an additional installed capacity of approximately 5,000-6,000 megawatts.

But problems arise. Due to the lack of unified and systematic planning, Pakistan has signed a large number of "take or pay" power purchase agreements. Around 2020, especially under the impact of the COVID-19 epidemic, power demand slowed down, the imbalance between supply and demand intensified, and power generation assets were underutilized. However, high capacity electricity bills still had to be paid, which directly pushed up terminal electricity prices. Grid electricity prices once soared to 15-18 cents per kilowatt hour, or even close to 20 cents, much higher than in neighboring countries.

Under such structural pressure, ordinary households and businesses face two choices: either reduce their electricity consumption or find alternatives. It is in this context that solar energy is rapidly gaining popularity. Lalani emphasized that this change does not stem from the ideological "love of clean energy", but more from practical and economic considerations. He summed up the economic logic in one sentence: The cost of electricity per kilowatt hour for a small solar system is as low as 8 rupees, while the grid electricity price is as high as 70 rupees.

Lalani pointed out that the early government chose to develop coal power partly because it believed that coal power could be used as a stable base-load power source, while solar power could only generate electricity during the day. However, this planning failed to foresee the dramatic decline in solar costs and advances in energy storage technology.

As global photovoltaic costs continue to decline, industrial users took the lead in taking action from 2017 to 2018 to lock in low-price electricity by signing long-term power purchase agreements with developers; since 2023, residential users have followed suit on a large scale. Today, a basic system costing US$100-150 can meet basic household electricity needs, and the payback period is usually between one and a half to two years. For many households, electricity bills have dropped from 20% to 30% of income to 5% to 7%.

Lalani believes that such an investment is affordable for most families, and the returns are substantial. Lalani pointed out that the Pakistani government has not invested in solar energy on a large scale and that the boom is "completely driven from the bottom up." "Essentially, the people are pushing the market to import more solar panels. It is changing the way Pakistanis think about electricity."

He further explained that such systems typically do not require reliance on the public grid or monthly electricity bills. Even taking into account the intermittency of renewable energy, Lalani believes this is not an insurmountable obstacle for the average household, because battery storage is usually enough to support demand for one to a day and a half, with the sun coming back the next day.

However, Lalani also emphasized that there are significant differences between different electricity usage scenarios. For large industrial users, it is obviously not feasible to rely solely on off-grid solar energy. Such users usually use grid-connected solar systems as a supplement to the existing power supply system.

According to Bloomberg, the boom in solar energy in Pakistan in recent years has completely bypassed the existing power system and attracted many household and commercial users, including Pakistan’s largest export-earning industry, the textile industry. Nishat Textile Co., Ltd., which supplies GAP Company and H&M, has connected more than 35 MW of solar power generation systems. Interloop Ltd., which supplies sportswear to companies including Adidas and Nike, has built and operated a 25-megawatt solar power system. Service Industries Ltd., the country's largest footwear exporter, generates 40% of its shoe factory's electricity from solar energy. Lucky Cement Co., Ltd., the largest cement manufacturer, generates 55% of its electricity from solar, wind and waste heat recovery.

In Gao Li's view, this transformation is not only a change in the energy structure, but also a profound change in people's lifestyles. He cited himself as an example. By installing a solar system, his family no longer relied on natural gas for heating, but switched completely to electricity, and the energy bill dropped to almost zero.

In areas with extremely unstable power grids, solar energy has even become the only realistic option. Gao Li and his team recorded a large number of grassroots stories during the research and documentary shooting process. For example, in an extremely remote fishermen community in southern Sindh Province, where even basic living necessities are difficult to secure, solar energy has allowed residents to have stable lighting and basic electricity for the first time, which has produced substantial changes in their livelihoods. In southern Punjab, some farmers solve irrigation problems by sharing mobile solar systems: They install photovoltaic panels on tractor trailers and use them in turns between different wells. It is difficult for a single farmer to bear the cost independently, but through cooperative sharing, affordable energy solutions are achieved.

On June 23, 2025, workers loaded solar panels onto an automated rickshaw in Karachi, Pakistan. Visual China data map

Chinese factors and global significance

The reason why this change can occur so quickly is that almost all analyzes point to the same key factor: China’s green technology. Ember data shows that between 2022 and 2024, Pakistan's imports of solar modules from China will increase fivefold, from about 3,500 megawatts to 16,600 megawatts, and its share of China's photovoltaic exports will rise from 2% to nearly 7%. This trend will continue in 2025.

"Almost all the solar panels used in Pakistan come from China," Lalani said. "Without Chinese technology and products, Pakistan would not have been able to achieve such a large-scale popularization, and the global energy transformation would not have been so fast."

Gaoli's analysis further pointed out that China's participation has created a rather symbolic situation: in the CPEC1.0 stage, coal power projects financed and constructed by China are competing in the same market with distributed photovoltaic systems made in China, and the former is gradually losing its advantage. The utilization rate of some imported coal power projects has fallen below 20%.

Gowrie believes that Pakistan has passed a "tipping point" in the adoption of solar technology, and the key challenge now is how to integrate this new, decentralized, consumer-led system with an old, inefficient legacy power system with a large number of stranded assets (such as coal-fired power plants with utilization rates below 20%), rather than taking users completely off the grid.

In this regard, he believes that China can play a key role: first, through transformation finance, leading and supporting the decommissioning or transformation of coal power assets into flexible power stations and replacing them with new solar and wind energy; second, promoting technology transfer and localization of the industrial chain, especially in the energy storage industry that is about to explode, and cooperating with Chinese partners for localized manufacturing and assembly of batteries to enhance sustainability and energy security; third, going beyond individual project thinking, in CPEC Under the 2.0 framework, build an overall energy ecosystem package covering electric vehicles, charging infrastructure, etc.

Pakistan’s Energy Minister Awais Lehari recently told The Economist that he has begun negotiations with China on an agreement to restructure coal-fired power plant projects and is seeking professional support from China and other countries in modernizing Pakistan’s power grid and reforming the electricity market. At the same time, the Pakistani government is trying to attract Chinese companies to invest in local manufacturing of solar panels, batteries and other green technologies.

Looking to the future, both experts believe that solar energy will continue to develop, but a new phase is coming. Battery energy storage, artificial intelligence data centers and the transition to electric vehicles will become new focus areas for Pakistan, and these areas will require deeper international cooperation. They pointed out that Pakistan has relatively abundant power resources and a huge market size, with a population of about 250 million, and a huge demand for new technologies and products.

In making recommendations to Chinese businesses and policymakers, Lalani believes technology transfer will be key to future cooperation. He said that Pakistan not only hopes to import products, but also hopes to build capabilities through joint ventures and partnerships and achieve large-scale development in more industrial fields, not just solar energy itself.

On June 23, 2025, in Karachi, Pakistan, a local resident was cleaning the solar panels installed on the roof of his house. Visual China data map

Challenges and next stages

Despite its impressive results, Pakistan’s solar revolution also faces some serious challenges.

Currently, there are no uniform battery, grid connection, energy storage and fire safety standards across the country, and there is a lack of policy framework to deal with future e-waste problems. Inequality also exists: even as prices fall, the poorest groups still struggle to afford the initial investment. The greater systemic risk lies in the "death spiral" of the power grid – high-income users go off the grid to supply their own electricity, and remaining users bear higher costs, further weakening the sustainability of the power grid.

In this regard, Gauri believes that the key is not to prevent distributed energy resources, but to reshape the logic of the power grid and introduce mechanisms such as energy storage, demand-side management, and virtual power plants to reintegrate "prosumers" into the system.

From a policy perspective, he believes that the key to the next stage lies in three aspects. First, we must re-examine the subsidy and electricity price structure to clarify who exactly the subsidy supports and where it flows. Currently, many countries, including Pakistan, indirectly transfer resources to the fossil energy system through electricity price subsidies, which objectively weakens the competitiveness of clean energy.

Secondly, the regulatory and standard systems need to be improved urgently, including equipment standards, grid connection rules, licensing systems, and off-grid system specifications. He and his organization are also involved in working with the Pakistan Solar Energy Association to promote the establishment of unified technical and regulatory standards across the country and beyond public sector projects.

Third, it is the transformation of the power grid itself. When distributed solar energy can cover a considerable proportion of electricity demand, the traditional power grid logic centered on centralized power generation and long-distance transmission will be unsustainable. It must turn to a more flexible system and introduce demand-side management, energy storage and new market mechanisms.

In international comparisons, he mentioned that countries like Australia, which have higher renewable energy penetration rates, have begun to adapt to the new energy structure through innovative electricity price mechanisms and institutional designs, such as providing "free solar power" during specific periods. He believes that these experiences can be introduced into Pakistan and promoted after localization adjustments.

An important aspect of Pakistan’s story is that it uses facts to refute the idea that clean energy is expensive and that countries in the Global South can only rely on subsidies for development. Today, solar power has become the cheapest source of electricity. Even for utility-scale solar or hybrid projects, electricity prices are less than 3 cents per kilowatt hour, lower than new coal power, oil and gas and even hydropower.

When talking about the attitude towards energy transition at the government level, Lalani pointed out that there are obvious "two sides" in the official position. On the one hand, Pakistan has clearly stated ambitious renewable energy goals in its Nationally Determined Contributions (NDCs). The document is full of commitments on solar energy and clean energy. The policy level also hopes that relevant projects can be promoted as soon as possible. On the other hand, in actual implementation, infrastructure construction, institutional capabilities and governance levels still lag seriously behind, making it difficult to fully implement these commitments.

Lalani himself has been engaged in consulting work related to climate and energy policies for a long time, and has maintained a certain degree of communication with government departments. He believes that the current problem is not whether there is a lack of direction, but whether execution capabilities and institutional support are sufficient.

Pakistan’s experience is not just the story of a single country, but a process that many countries in the global South may be going through or about to go through. As Gowrie said, if this bottom-up energy transformation succeeds, it will become a "beautiful textbook case"; if it fails, it may also be used as a negative teaching material, affecting the world's confidence in solar energy.

The construction of a new battery materials factory in Kotka, Finland, about 130 kilometers east of Helsinki, did not proceed as planned. In order to complete the project, a large number of Chinese workers began to be hired locally. Finnish public broadcaster Yle reported that Finnish immigration authorities have reviewed more than 150 work-related residence permit applications for Chinese workers.

A cathode active material (CAM) factory is currently under construction in Kotka. The plant has a designed annual production capacity of 60,000 tons, with room for future expansion reserved. The project is promoted by Easpring Finland New Materials Oy, a company established in 2024. The equity structure of this joint venture is: Beijing Yisiyuan Material Technology Co., Ltd., a company listed on the China Growth Enterprise Market, holds 70% of the shares, and Finland Mining Group Co., Ltd. holds 30%.

construction site

The factory will start construction in early summer of 2025 and will become an important part of the battery value chain in Finland and Europe after completion. After the first phase of the project is put into operation, it will directly create about 270 jobs. Finland hopes to steadily promote the construction of the battery value chain in this way. The CAM factory to be built in Kotka and the pCAM factory planned to be built in Hamina will form one of the largest battery materials industry clusters in Europe.

According to EU and Finnish regulations, EU construction workers must be given priority in the construction of such factories. Up to 800 people will be working on the construction site of the battery factory. Previously, there were only more than 40 Chinese workers. In October last year, the Finnish immigration authorities rejected dozens of applications for work and residence permits from China on the grounds that “Chinese cannot be allowed to steal jobs from Europeans.”

Report from German weekly "Focus"

However, due to the lack of technical experience of EU workers in building such complex factories, construction on the construction site is carried out at "European speed". If this continues, it will even seriously affect the previous completion plan.

To this end, the Finnish factory had to apply again to the Finnish Immigration Service for a work and residence permit for Chinese workers. The company is said to have submitted 155 applications for work-based residence permits from China, and the Immigration Bureau has so far approved most of them.

It is said that these Chinese employees mainly serve as project managers or on-site supervisors. Chinese experts also attend training courses there to meet the requirements of Finnish construction sites.

Construction site progress is slow

Vesa Koivisto, commercial director of Easpring Finland, said it would be almost impossible to accurately estimate the number of foreign experts and professionals before the project starts. However, "I can confirm that no Chinese workers are involved in the construction of the production facilities. They are mainly responsible for project management and supervision."

General contractor China Harbor Engineering Co., Ltd. (CHEC) also said the demand for Chinese labor has changed as the project progresses.

"It turns out that local people lack experience in setting up production lines for battery cathode active materials," CHEC explained to Finnish broadcaster Yle. Due to the tight construction schedule, technical expertise had to be imported from China.

In order to take care of the construction workers from China, CHEC rented a hotel near the Kotka construction site. The hotel has approximately 70 rooms and can accommodate approximately 300 people. Kotka also currently has a Chinese restaurant that serves construction workers for lunch.

Hotel where workers stay

Finland is currently facing a serious skills shortage, especially in the technology industry, according to new analysis from ETLA Economic Research and others. Industry associations estimate that approximately 140,000 new skilled workers are needed.

Germany also faces a shortage of skilled workers. According to a STEM report released by the German Institute for Economic Research (IW), by the end of 2025, the German technology industry will be short of approximately 148,500 skilled workers, including skilled workers, academics and technicians.

Relying on China's reputation as an "infrastructure maniac", Chinese construction workers have also won wide recognition around the world. Political scientist Daniel Marvetsky once wrote in "The Post-Western World" that from 2011 to 2013, China's cement consumption exceeded the United States' entire 20th century by 50%. Another political scientist Milan Babic mentioned that China's solar installed capacity in 2023 will exceed the total of the United States in history.

Now, many European media like to compare the "snail speed" of European construction with the "China speed". Many European companies have also begun to implement the "China Speed" strategy. Introducing high-end Chinese construction workers into Finnish factory construction is a pragmatic approach.

It’s been almost 20 days since I returned to China, and the evening rush hour on Beijing’s Third Ring Road can still make people feel nervous. The neon signs outside the window were so bright that they formed a sea of ​​light. The Meituan guy was riding his bike through the traffic, as fast as double speed. Amidst all the noise, the night in Pyongyang always pops up in my mind – the kind of silence that is so dark that even the slightest sound can be swallowed up.

Before going to North Korea, I had the same idea as everyone else. I thought the place was mysterious and a bit scary. I came here because of the company's technical cooperation work and stayed in Pyongyang for three months. Without the Internet, without drinking and socializing, my life is cleaner than a blank slate. But it's this cleanliness that makes all the details that couldn't be seen clearly through the screen clearly laid out in front of you.

Today I won’t talk nonsense, but I will talk about the heart-wrenching real things that I witnessed and experienced there.

1. Their time is not used in exchange for money, but used for practical purposes.

When I first got there, the thing that scratched my head the most was the efficiency – so slow that you lose your temper.

I remember one time when a core part of a piece of equipment in the factory was broken and I was in a hurry to replace it. If this were done in the country, from placing the order to installing it, it would take a day. But over there, just such a small part took a whole week to make.

The parts finally arrived. I picked up the tools and wanted to get started, thinking about finishing them quickly. Lao Jin, who was in charge of the docking, grabbed me and still had that unhurried smile on his face: "Gong Li, don't worry, let's hold a mobilization meeting first."

I almost thought I heard it wrong – a pep rally is required to tighten a screw?

The meeting really started. All twenty workers were called together, sat on small benches, and listened to the leader read a document for almost an hour. The content had nothing to do with technology. It was all about how glorious the task was and what kind of loyalty it had to be completed with. Every word was as solemn as announcing a major event.

After the meeting, I thought I could finally get started. When I looked at my watch, it was lunch time. Everyone, even me, who was so anxious, was "pulled" to the cafeteria. I told Lao Jin, can’t we spend ten minutes finishing it before eating? He patted me on the shoulder and said something that made me stunned for a long time: "Gong Li, the work is endless. If you finish these today, there will be new ones tomorrow. It is also your duty to eat on time."

I looked at his calm expression, and my anger suddenly disappeared. Here, we rush to grab time, grab time to exchange for money, and exchange money to live a better life. But here, there are no rewards for being fast and no penalties for being slow. Everyone's position and rhythm seem to have been determined long ago. Their "stability" is the kind of "softness" that makes you unable to use all your strength. You jump around in a hurry, but you look like an out-of-place fool.

Later, I learned the lesson, so I stood on the sidelines and watched, watching five or six of them gathering together to do a job that could be done by one person. Listening to them shouting neat chants, the anxiety in my heart was slowly replaced by a kind of absurd calmness. Tell me, are we tired of people who are chased by deadlines, or are we tired of people like them who are slowly wandering on a fixed track? I really can't tell.

2. A Chinese cigarette will not bring you gratitude, but will bring you hot self-esteem.

In North Korea, when men interact with each other, cigarettes are the stepping stone.

I brought a few Chinese cigarettes, originally thinking of smoking them to satisfy my craving. Unexpectedly, the cigarette became the most powerful microscope, illuminating the tight things in their bones.

Once I took a car on a project and the driver was Xiao Pu, a very energetic young man. While resting on the road, I handed him a piece of Chinese medicine. He took it without hurrying, put it under his nose and took a deep breath. His eyes lit up for a moment, and then he quickly took it back. His eyes were clearly mixed with desire and restraint.

He smoked very cherishedly, holding a puff of cigarette in his mouth. It took him a long time to spit it out, and then he sighed sincerely: "It's really good."

After smoking, he was obviously uncomfortable and always felt that he owed me something. After touching my body for a long time, I took out a box of crumpled local cigarettes called "Lingming". He took out one and handed it to me. His tone was a little unnatural: "Gong Li, try ours. The taste…maybe a bit strong."

I took it and ordered it, my dear, it tasted really strong, like burning dried leaves mixed with soil. It made my throat tighten and I almost coughed out. Xiao Pu kept staring at me nervously, his fingers tightly holding the seam of his trousers, and it was obvious that he was very nervous.

I took a quick puff, endured the discomfort, gave a thumbs up and said, "It's strong enough! This smoke is solid!"

With just such a word, his shoulders suddenly relaxed, a big, somewhat honest smile appeared on his face, and his waist straightened unconsciously. At that moment, I felt quite uncomfortable. They are short of things, they are really short of things, but compared with material things, they are more afraid of being looked down upon by others, and they are more afraid of losing the thin face that is supported by the dignity of the country. You give them a little favor, and they will try their best to give you something in return, a piece of candy, a handful of peanuts, or a firmer handshake the next time you meet. This kind of careful equal exchange protects something more valuable than materials.

3. The house allocated for free has hidden doors and windows that cannot be seen

I always hear people say that North Korea has good welfare and houses are allocated by the state. Because of my work, I was fortunate enough to visit the home of a middle-level cadre.

The house was either a shiny new apartment like those shown on TV, or a rather old tube building. The corridor was dark and the elevator was parked all year round. I climbed seven floors to get to his house.

The house is shockingly clean, the floor is polished so brightly that people can be seen in it, the old furniture is arranged neatly, and the portrait of the leader hangs in the middle of the room. But it was really cold in that room. It was just late autumn at that time, and the coldness in the room was getting deep into the bones. The whole family was wearing thick cotton clothes and moving around in the room.

I caught a glimpse of something on the balcony covered with a cloth, with a corner exposed. It was a solar panel. The owner explained a little embarrassedly that there were frequent power outages at night, so he had to rely on this solar panel to store some electricity for his children to do their homework at night.

When we talked about the house, I casually asked: "If I am not satisfied with this house, can I change it?"

The host was stunned for a moment, with an expression as if I were asking "Can a person change his head?" He said matter-of-factly: "This is distributed by the country based on contribution. It is very fair. Why do you need to change it?"

These three words, "Exceptionally fair", made me unable to say a word. Our anxiety comes from too many choices—mortgage, school district, location. Every choice is overwhelming. And their "stability" comes from having no choice at all. There is no pressure of mortgage, but at the same time, there is no possibility of improving life, not even the freedom of having hot water shower at any time.

Sitting in that cold and quiet living room, but full of family laughter, I felt a strong sense of fragmentation in my heart. Their happiness is simple and real; our troubles are complex and specific. Which side is the safe shore? It seems like there is a vast sea on both sides, with no end in sight.

4. The deep well of information, and the eyes at the bottom looking toward the sky

For me, the most difficult thing there was the lack of information. My mobile phone turned into a useless brick. In the first few days, I felt as if I had broken a precept and felt uncomfortable all over.

The local young people are different. They have an internal network of light. Once, I was chatting with several young translators. They all graduated from top universities and they were all very smart.

A young man named Jin Zhe asked me secretly: "Teacher Li, does China no longer use cash? Can you pay by touching your phone?" I showed him the Alipay interface (although I didn't have an Internet connection and couldn't see it in real time). He looked like he was watching a science fiction movie, his fingers carefully sliding around on the screen, his eyes full of curiosity.

He asked another question that shocked me: "So… how much can an ordinary young person earn in a month?" I gave him an approximate number, and they quickly calculated. Then you looked at me and I looked at you, and they all took a breath – that number sounded like a myth to them.

At this time, the older team leader spoke, with a self-consoling relief in his tone: "However, the houses where you live are ridiculously expensive, and medical treatment is not easy, right? The pressure must be very high. We are better off, these countries are in charge."

I nodded without refuting him. They looked at us like we were looking at a group of lunatics dancing on a cliff with mountains of gold on their backs; we looked at them like we were looking at a group of plants in a greenhouse that didn't know how cold it was outside. But in fact, no one is a madman, and no one is a plant. They are just covered by different glass covers. They can see each other, but cannot enter each other's world.

Before leaving, I gave Jin Zhe an old USB flash drive full of Chinese movies and songs. When he took it, his hands were shaking. He quickly clenched it and stuffed it into his underwear pocket. He looked around and said to me in a low voice: "Brother, this is more precious than anything else." I will never forget the fire in his eyes in my life – it was not just curiosity, but desire. It was the most urgent yearning for the complex and vivid world outside the iron curtain.

5. The cold noodles at Yuryu Restaurant and the black smoke by the Datong River

The farewell banquet was held at the famous Okryu Pavilion, and the meal was Pyongyang cold noodles. The noodles are really chewy, the soup is refreshing, there are singing and dancing performances during the meal, and the waiters wear bright clothes and have standard smiles.

I accidentally looked out the window. On the bridge over the Datong River, an old truck broke down. It was emitting thick black smoke and a group of people were shouting slogans to push the truck. Their clothes were gray, and compared to the brightly colored cups and plates in the window, they were separated by a layer of transparent glass, but they seemed like two completely different worlds.

My colleague Lao Zhang came over to clink glasses with me and asked me, "When you go back, will you miss this place?"

I swirled the Datongjiang beer in my cup, and the foam slowly dissipated. I said, "I will think about it. I will miss the tranquility here, and the look on people's faces that has not been gnawed by anxiety. But if I were to stay here for a long time, I wouldn't be able to bear it – our souls have long been taken away by the bustling world in China."

As the train passed the Yalu River Bridge and the overwhelming lights and noise from Dandong came over, my eyes actually felt sore.

These three months were like waking up from a dream after a deep anesthesia. It really tells me: Don’t sympathize with them with a sense of superiority, and don’t use a romantic filter to beautify that lack. Their difficulties are concrete, a mouthful of hot water, a kilowatt-hour of electricity, and a pack of good cigarettes; their happiness is also concrete, a collective singing, a commendation for completing a task, and a word of recognition from foreigners.

The choices, conveniences and hustle and bustle we have, everything is marked with a price, which makes people unable to sleep; the stability, simplicity and slowness they have, everything has a closed door, trapping the wings of imagination.

To put it bluntly, there is no heaven or hell in this world, there are only trains running on different tracks. On this trip, I accidentally opened the window of another train and watched the different scenery for a while.

Now that I am back on my own track, I have begun to run forward non-stop again, but those days of "slowing down" are like a small thorn hidden in my heart. Whenever I am overwhelmed by mortgage loans and KPIs, it pricks me gently – not for anything else, just to remind me: Brother, the freedom you have now to be busy and anxious, but many people over there don't even dare to think about it.

Xinhua News Agency, Washington, February 13 (Reporter Yang Ling and Xiong Maoling) The U.S. Department of Justice launched a new civil lawsuit against Harvard University on the 13th, accusing the well-known university of failing to cooperate with a federal investigation and requiring Harvard to provide data related to enrollment.

According to the indictment filed in federal court in Massachusetts, the Justice Department accused Harvard of "illegally" withholding "necessary information" from the Justice Department by refusing to provide documents needed for the investigation.

The Justice Department said that the Federal Supreme Court ruled in 2023 that Harvard violated relevant laws by considering race in undergraduate admissions. The U.S. Department of Education launched an investigation into Harvard's undergraduate, law school and medical school admissions procedures in April 2025. However, Harvard has delayed the submission of documents and refused to provide necessary documents related to admission decisions. The most recent submission of admissions-related documents was in May 2025.

Harvard has maintained that it has complied with the Supreme Court's 2023 ruling. Harvard has not yet commented on the latest lawsuit from the Justice Department.

The Justice Department said in a statement that it filed the civil lawsuit "for the sole purpose" of compelling Harvard to provide documents related to race in its admissions process. “In this lawsuit, the U.S. government does not accuse Harvard of any discrimination, nor does it seek monetary damages or the revocation of federal funding.”

U.S. President Trump posted on social media on February 2 that the U.S. government is seeking $1 billion in "compensation" from Harvard and hopes to have "no more involvement" with Harvard in the future.

Since Trump returned to the White House last year, he has repeatedly accused Harvard and other universities of so-called "anti-Semitism" and demanded that these universities "rectify" or else they will cut or cut off funding from the federal government. The federal government announced in April last year that it would freeze billions of dollars in federal research funding to Harvard. Harvard filed a lawsuit over this, and the lawsuit is still ongoing.

On the evening of February 9, the temperature in New York had just dropped to subzero, but the glass building of the United Nations Headquarters was extremely lively at the moment, and could even be said to be boiling. From Africa to Europe, from Asia to Oceania, people from all over the world gather together to eat snacks, watch performances, and write blessings. A special Spring Festival event is being held here.

In the past, the Spring Festival was only a Chinese festival. And now, celebrations are taking place around the world. So, when did the Spring Festival become a global holiday? And what does this change mean?

Going back to three years ago, in 2023, the United Nations General Assembly directly decided to designate the Spring Festival as a floating holiday of the United Nations. By 2024, UNESCO will directly list it as the "Intangible Cultural Heritage of Humanity". In the past, the Spring Festival was only a traditional festival celebrated in Asian countries, especially in places with a large number of Chinese people. Now, it is no longer a festival that the Chinese people enjoy behind closed doors, but a festival that the international community has to pay attention to and even take the initiative to join.

Speaking of the night of the event, although United Nations Secretary-General Guterres was not present, his video blessing arrived early. He said "Happy Spring Festival" in Chinese, and before leaving office, he left this last Spring Festival speech to China. It is not difficult to see that his attitude towards Chinese culture is respectful and sincere.

What is even more surprising is the participation of United Nations Deputy Secretary-General Amina Mohammed. Not only did she not go through the motions, she also picked up a brush on the spot and wrote the word "福" with her own hands. Don’t underestimate this action. This is the first time that a high-level United Nations official has personally participated in Chinese writing during a Spring Festival event. She said bluntly to the camera: The "unity and hope" that the Spring Festival talks about are consistent with the pursuit of the United Nations. Her behavior illustrates that the themes of Chinese culture – "harmony" and "reunion" – are not only seen by the world, but also understood and accepted.

If Amina's "calligraphy treasures" show the warmth and heritage of Chinese culture, then the next scene directly shows the hard power of Chinese modernization.

On the other side of the hall, three dancing humanoid robots instantly stole the attention of the audience. Not only can they dance modern dance, but they can even perform kung fu in a decent manner, and in the end they even flexibly "wishes New Year" to the audience. This operation was very smooth, and the movements were not stiff at all, which directly stunned the foreign audience at the scene. Several foreign children lay beside the fence and refused to move, saying that this was the first time they had seen a simulated robot "dance specifically for the festival." Even officials from various countries who are accustomed to big scenes took out their mobile phones to take pictures.

There is another exhibition that is also very popular: "Global Auspicious Zodiac Design Exhibition". There are many works in it that were created together with American design schools. The most popular one is called "Ma Dun Dun", which is the previous "Bing Dun Dun" that was changed to look like the Year of the Horse. Today's zodiac signs are no longer antiques hanging on the wall or placed on the table, but have become toys and electronic paintings that young people like. With this change, young people abroad have begun to find the Chinese zodiac quite interesting and are willing to learn more about it.

In addition to New York, Chinese embassies in many places overseas also held Spring Festival activities at the same time. In Africa, the Spring Festival temple fair in Lusaka, the capital of Zambia, was held in a down-to-earth manner. Local citizens rushed to write calligraphy and watch the promotional video of the Spring Festival Gala. When they arrived in Mozambique, many local young people wrote the words "instant success" with calligraphy brushes. After writing, they posted these works on the wall for display.

At the same time, in Canada, the Chinese Consulate General in Toronto also held a New Year reception. Peking Opera arias and Chinese song performances were arranged during the event, which attracted the attention of the Canadian government. Federal Member of Parliament Jiali Ye and other officials present said at the scene that the Spring Festival has now become a part of Canada’s multicultural life.

It can be seen from the holding of these activities that the influence of the Spring Festival is no longer limited to overseas Chinese communities, but has gradually been integrated into the regular festival arrangements of local people. People no longer regard it as a distant special festival that only belongs to China, but as a real cultural activity that is close to life.

Faced with this situation, Fu Cong, China's Permanent Representative to the United Nations, put it very bluntly – Chinese traditional culture is about doing things and not just showing off. The core of the Spring Festival is actually reunion and peace. In this situation of constant conflicts around the world, he hopes that all countries can put aside their conflicts and face and solve problems in a more pragmatic way. Although the words were short, they made the facts very clear. What the current international environment requires is this down-to-earth attitude.

The Spring Festival has indeed changed in recent years. In the past, we lived it alone, but now the whole world is living it together. It does not rely on external force, but the people really like it and are willing to participate. Now the United Nations is holding Spring Festival activities. Instead of sitting in the audience and clapping their hands and leaving, many senior foreign officials personally write the word "福" and Spring Festival couplets and interact on the spot. Young people not only take photos, but also participate in dragon and lion dances. This shows that they are not participating superficially, but truly accepting and liking it.

Culture is actually not that complicated. If it can be directly integrated into people's lives and people are willing to participate and find it interesting, it will be successful. Why is the Spring Festival so popular around the world? The key is that everyone can understand the emotion it expresses. No matter which country you are from, people will always look forward to having their families get together and make their lives more hopeful and lively. This kind of thing knows no borders.

For many people, celebrating a festival is actually to find an excuse to reunite the family and slow down the busy pace of life. The fact that more and more people around the world are beginning to accept the Spring Festival also illustrates a very simple thing: we have preserved these traditions and attracted more and more foreigners to experience them together. This kind of communication is not about shouting slogans or talking about big principles, but through a Spring Festival, people can have an extra layer of understanding between people. This is the "great unity of the people of the world" that we have always longed for!

Author/Xiao Bu

Without a drama king to be crowned, the opening drama of 2026 seems to be more intriguing than in previous years.

"Strong female characters" are still popular. After "Jade Tea Bone", Mango TV launched the atypical workplace drama "The Goddess Blindfolded". Youku and iQiyi no longer indulge in the sadomasochism of fairy tales, but chose to use "The Strange Case of the Tang Palace" and "What Kind of Body", two female-oriented ancient puppets to fight head-on;

Comedy is an invincible tool. Tencent Video's "Promising Young Man" has made people yearn for "Tengda". Youku's "Country Love" series has been enduring for 20 years, accompanying Lucy in the city and Cuihua in the small town as they grow up;

Realistic themes have encountered controversy. "Small Town" continued to increase its ratings despite negative voices. "Tree of Life" was released after being long-awaited, but it fell off a cliff because it was too heavy.

Liveliness is the appearance, division is the essence.

This melee of dramas at the beginning of 2026 has become a bellwether for the shift in the narrative logic of long-form dramas.

Realistic themes pick up steam

It's not reincarnation, it's evolution

When you look at "Big Things in a Small Town" and "The Tree of Life" together, you will find that it is a very interesting thing.

"Small Town Events" is adapted from the Lu Xun Literature Award winner's reportage "Chinese Peasant City", which tells the true miracle of Wenzhou Longgang farmers raising funds to build a city on the tidal flat; "The Tree of Life" went deep into the Hoh Xil no-man's land and filmed 188 days of "life-defying" posture in real scenes on the plateau to record the thirty-year persistence of the anti-poaching patrol team.

The two dramas did not follow the old path of sensationalizing suffering, but they parted ways in terms of reputation.

The popularity of "Small Town" peaked at 27,000 on Tencent. The details of the female mayor Li Qiuping played by Zhao Liying who was afraid of injections were talked about by the audience. Huang Xiaoming's messy curly hair and stubble on his face even gave rise to the Internet buzzword "Inside Gate".

However, the ratings of "The Tree of Life" plummeted, and Douban received one star, and was even forced to lock out reviews due to abnormal ratings.

Why is it the same realistic subject matter, but the situation is as different as ice and fire?

The key to the problem is not whether it is real, but where the real incision is.

"Tree of Life" is of course a work made with great effort. Duojie, the mountain patrol captain played by Hu Ge, and Yang Zi braved the plateau red to complete high-intensity action scenes in a snowstorm of minus 20 degrees Celsius. The crew stayed at an altitude of more than 4,000 meters for half a year.

But what this almost tragic creative sincerity conveys to the audience is an overwhelming sense of "grievance" – the poachers can always escape, the young mountain rangers sacrifice when they say they will, and the supporting character who was knocked off the line didn't even have a decent last word.

The screenwriter tried to use the team members' quarrels and the male and female protagonists' secret feelings to relieve the heaviness, but the fact that "there are more knives than sugar" ultimately dissuaded a large number of ordinary viewers who wanted to follow the drama to relieve stress.

To put it simply, it is a group of reliable production team, team and actors accompanying an unreliable screenwriter to fool around!

On the other hand, "Small Town" also talks about obstacles, but the narrative tone is much lighter.

It breaks down the grand narrative of "building a city" into specific and subtle problems: What should I do if I don't have money? Mobilize farmers to raise funds. What to do if you don’t have technology? Introduce overseas talents. What should we do if there are differences among cadres? After banging the table and quarreling, we went on to work as a team.

Li Qiuping, played by Zhao Liying, is not a bitter and resentful reformer. She frowns and dodges when getting injections, and her eyes light up when she sees progress. She has a hopeful vitality that spans forty years of time and space.

This is the real background of the revival of realistic themes in 2026: not a simple return to difficult themes, but an in-depth focus on "how ordinary people solve specific problems."

Now the audience is no longer satisfied with being moved by the grand narrative, but how the dilemma is dismantled step by step, how the contradictions are reconciled bit by bit, and the moment at which ordinary people suddenly become extraordinary.

Where does "Tree of Life" fail? It is too eager to become a work, too obsessed with carving the solemnity of suffering, but forgets that the essence of the story is to make people watch it. This may also be an expensive trial and error for Noon Sunshine.

When the 46-episode script was actively compressed to 40 episodes, and when "no water injection" became the industry benchmark, "The Tree of Life" still failed to cross the invisible threshold from "good drama" to "hit".

The revival of realistic themes is by no means to increase the intensity of the audience, but to let the audience look at the trivial, warm, and even humorous daily life.

"The Year of Peace", which was broadcast at the same time, confirmed this narrative shift from another dimension.

This epic drama, which fills the gaps in the film and television of the Five Dynasties and Ten Kingdoms, was complained by the audience when it first aired, "You have to look up Baidu to watch one episode, and you have to look up history books to watch five episodes." After the broadcast, the Douban score was 7.9, the ratings steadily exceeded 2, and the online broadcast also occupied the top spot. It did not sacrifice historical quality in order to lower the threshold for watching the drama, but chose to trust the audience's intelligence. This respect itself is the most powerful disenchantment for the "levitation era".

Strong women have changed from slogans to skeletons;

It happened exactly in Gu Ouli

If the revival of realistic themes is expected, then the changes in the ancient puppet track are somewhat unexpected.

Youku's "The Strange Case of the Tang Palace" and iQiyi's "What a Body" are now online. The former's popularity on the site exceeded 10,000 on the fourth day of its launch, while the latter's popularity soared from 7,000+ to 9,000+ on the first day even though there was not much publicity in the early stage, both of which set off an Internet craze.

What’s interesting is that neither of these two dramas followed the traditional puppet route of “the domineering boss’s spoiled wife”.

The banner of "The Strange Case of the Tang Palace" is ancient costume suspense from a female perspective. Li Peiyi, a female official of the Internal Affairs Bureau played by Bai Lu, is responsible for the murder of her family. In order to investigate the case, she will not hesitate to join the bureau and risk her life. In the case of "The Guest Star Appears as a Wu Nu" in the opening chapter, the princess planned to fake her own death to escape from marriage, but was betrayed by her lover, and eventually jumped from a high platform. The end point of this scene is not the disillusionment of love, but the last resistance of the women in the palace to royal power and patriarchy.

The "Flower on the Wall" case always focused the camera on the face of the perpetrator, which was "a life-or-death victory" for the girls.

"What's the Style" even turns "anti-routine" into a methodology. Cuihua, the animal king of modern society, traveled through time and became the demon concubine who brought trouble to the country. She used the English code words "How are you?" and "Fine, thank you" to recognize the tyrant Xiahou Dan who also came through the book. The two formed an alliance in the triple nesting of the "book in the book" to survive.

Under the shell of light joy, there is a serious core of human glory in the paper man. As the lowest-dimensional character, King Duan showed no fear in the face of three higher-dimensional travelers, and was dubbed the Top Awakening of Paper Man by netizens.

If these two dramas were placed on the market in the past few years, they would probably be classified as "big heroines". But over the years, the audience has already developed antibodies to this discourse.

The heroines of the past were essentially the "chosen" ones. They are either extremely talented, have a blood feud, or are attracted by the top combat powers in the three realms. The so-called "growth" is nothing more than changing the object of attachment from father to husband, from master to emperor – changing the soup without changing the medicine.

This wave of ancient puppets in 2026 is quietly rewriting this formula. Li Peiyi in "The Strange Case of Tang Palace" is not the chosen daughter, she is just a survivor who wants to find out the truth. Her focus when surveying the scene, her calmness when dissecting a corpse, and her uncompromising attitude when facing powerful people all made "strong woman" no longer a slogan hanging on a poster, but actually turned into an engine for advancing the plot.

The original novel "What a Style" was written five years ago. At that time, the "book reading" was still at the stage where people knew the plot well so they cheated on it. However, the adaptation of the drama version keenly captures the emotional changes of the times: the golden finger of the heroine Yu Wanyin is no longer a prophetic thing, but the communication and emotional management skills of modern workplace people. She doesn't know martial arts or tactics, but she can review, empathize, and mobilize resources. These soft powers that have been ignored by traditional ancient dolls for a long time have become her real armor to survive in this cruel world.

If this set of words were used in a TV series from a few years ago, there is a high probability that it would be criticized as "suspended" and "inconsistent with the historical background." But in 2026, it received real money votes from the market.

This is no accident. When women in real life increasingly rely on their own abilities to gain economic independence and social respect, the narrative template of "being saved" will naturally lose its effectiveness. The audience no longer needs a vicarious Mary Sue fantasy. What they need is a mirror to see the workplace dilemmas, emotional choices and self-games they are experiencing.

In addition, Tang Yingying, played by Xin Zhilei in "The Goddess Blindfolded", started out as a cold-blooded lawyer who believed in "evidence first" and used a barrage of questioning in court to force the victim to collapse in court. But in the scene of jumping into the river to save others, she jumped wearing a life jacket, not because of her conscience, but because she always believed that "human life precedes the truth."

What makes this character so resonant is her imperfection. She will make mistakes in judgment, be deceived by illusions, and repeatedly touch the bottom line of morality and law. But she never pities herself for this. She corrects her mistakes when she is wrong and finds out when she doesn't see clearly. This indomitable counterattack is far more convincing than a female war goddess who is always right.

The intersection of two clues,

It’s because the audience doesn’t want to be “cheated” anymore

If you look at the "narrative noise reduction" of realistic themes and the "subject awakening" of female video dramas together, you will find that they point in the same direction: the audience is abandoning all false things at an alarming rate.

False suffering, false golden fingers, false love myths, false counterattacks in life.

The ratings of "The Tree of Life" fell not because of the indifference of the audience, but because it turned suffering into a monument that needs to be looked up to; "The Strange Case of Tang Palace" became popular, not because of the strong appeal of Bai Lu, but because it allowed the audience to see how a woman is like How can one rely on professional skills to gain a foothold in a patriarchal society? "The Goddess Blindfolded" received critical acclaim not because Xin Zhilei won the Best Actress award, but because it dared to present the dark and ambiguous gray area between "imperfect victims" and "imperfect perpetrators."

This disenchantment is comprehensive. Once upon a time, audiences were willing to pay for fairy tales about "the boss fell in love with me" because it provided a short-term emotional sugar substitute.

Nowadays, eating too much sugar will make you sick, and the audience began to ask: What next? What about after being saved?

The drama market in the opening year of 2026 will appear to be a flourishing of genres and themes, but in essence, a new contract will be signed between the audience and the creators. The name of this contract is "truth", which is not truth in the sense of documentary literature, but truth in emotional logic, truth in character motivations, and truth in the solution to dilemmas.

The reality of "A Little Town" is that the grassroots cadres bang the table and then go to the cafeteria to eat together after quarreling; the reality of "The Peaceful Year" is that the greatest ideal of people in troubled times is to "rather be a peace dog than a person in troubled times"; the reality of "The Goddess Blindfolded" is that victims will also lie, defense lawyers will also doubt themselves, and justice must sometimes arrive in an imperfect way.

When the audience has experienced enough bad endings and character collapse, and when the market has witnessed enough high-start, low-turn and fraudulent marketing, the shortcut that once worked so well has come to an end.

Only more than a month has passed in 2026, and it is too early to predict the direction of the series throughout the year. However, the collective debut of this new wave of works in the new year has already outlined a clear outline of the narrative logic of Chinese dramas:

Those suspended, false, routine works that sell anxiety as well as fantasy are losing their market at a speed visible to the naked eye. And creators who dare to look at the audience at eye level, who dare to admit the complexity and ambiguity of life itself, and who dare to let female characters become self-realizing subjects are receiving the applause they deserve.

This applause does not only belong to a certain drama or a certain actor, but to an era that finally began to respect the audience's intelligence.

Vision|Egg

Operation | Xiaoman, Dudu

Securities code: 600620 Securities abbreviation: Tianchen Shares Announcement Number: Lin 2026-003

Shanghai Tianchen Co., Ltd.’s progress announcement on the land compensation agreement (2)

The company's board of directors and all directors guarantee that the contents of this announcement do not contain any false records, misleading statements or major omissions, and assume legal responsibility for the authenticity, accuracy and completeness of its contents.

1. Transaction Overview

1. According to the approval of Shanghai Development and Reform City (2023) No. 42 and other documents, the Shanghai Pudong International Airport Phase 4 expansion flight area project (hereinafter referred to as the "project") has officially started construction. Part of the agricultural land of Shanghai Tianchen Co., Ltd. (hereinafter referred to as the "Company") located in Hill 3/1, Block 3, Chaoyang Farm, Pudong New District, Shanghai, has been included in the land red line of this project. Due to public interest needs, the government has taken back the state-owned land use rights of part of the company's agricultural land for the construction of the Shanghai Airport (Group) Co., Ltd. (hereinafter referred to as "Shanghai Airport Group") flight area project. Shanghai Airport Group is the project construction unit and the user of the project land. Shanghai Pudong House Expropriation Service Office Co., Ltd. (hereinafter referred to as "Pudong House Expropriation Office") is the implementation unit of the project land compensation work.

Based on the above situation, the company ("Party B") plans to sign the "Shanghai Pudong International Airport Phase 4 Expansion Flight Area (Phase 2) Project Land Compensation Agreement" ("Shanghai Pudong International Airport Phase 4 Expansion Flight Area (Phase 3) Project Land Compensation Agreement") ("Shanghai Pudong International Airport Phase 4 Expansion Flight Area (Phase 3) Project Land Compensation Agreement") with Shanghai Airport Group ("Party A") and Pudong Housing Expropriation Office ("Party C"). The Phase 2 Agreement and the Phase 3 Agreement are collectively referred to as the "Land Compensation Agreement". In the second-stage agreement, the company will be expropriated with a land area of 35,942.80 square meters, a compensation unit price of 473 yuan/square meter (including value-added tax), and a land compensation amount of RMB 17,000,944.40; In the three-phase agreement, the company will be expropriated with a land area of 74,587.90 square meters, a compensation unit price of 473 yuan/square meter (including value-added tax), and a land compensation amount of RMB 35,280,076.70. The land compensation agreement that the company plans to sign this time covers a total expropriated land area of ​​110,530.70 square meters. The compensation unit price is 473 yuan/square meter (including value-added tax). The total land compensation price is RMB 52,281,021.10 yuan.

The company has held the 15th meeting of the 11th board of directors on September 26, 2025 and the company's first extraordinary shareholders' meeting of 2025 on October 15, 2025, which reviewed and approved the "Proposal on the Company's Plan to Sign a Land Compensation Agreement" and authorized relevant personnel of the company to sign all agreements related to this matter (see company announcement numbers: Pro 2025-026, Pro 2025-028, Pro 2025-033).

2. The Company ("Party B") subsequently formally signed the "Shanghai Pudong International Airport Phase 4 Expansion Flight Area (Phase 2) Project Land Compensation Agreement" ("Shanghai Pudong International Airport Phase 4 Expansion Flight Area (Phase 3) Project Land Compensation Agreement") and the Shanghai Airport Group ("Party A") and the Pudong Housing Expropriation Office ("Party C") (the "Three Phase Agreement"). The Phase 2 Agreement and the Phase 3 Agreement are collectively referred to as the "Land Compensation Agreement".

According to the land compensation agreement, as of December 25, 2025, the company has received 20% of the land compensation amount agreed in the "two-phase agreement" paid by Party A to the company, that is, the first installment of RMB 3,400,188.88; and 20% of the land compensation amount agreed in the "three-phase agreement" paid by Party A to the company, that is, the first installment of RMB 7,056,015.34. A total of RMB 10,456,204.22 has been received from the first phase of the land compensation agreement, accounting for 20% of the total land compensation price (for details, please see the company announcement number: Lin 2025-038).

2. Progress

1. According to the land compensation agreement, as of February 12, 2026, the company has received 70% of the land compensation amount stipulated in the "two-phase agreement" paid by Party A to the company, that is, the second installment of RMB 11,900,661.08; and 70% of the land compensation amount stipulated in the "three-phase agreement" paid by Party A to the company, that is, the second installment of RMB 24,696,053.69. This time, the company received the second installment of the land compensation agreement totaling RMB 36,596,714.77, accounting for 70% of the total land compensation price.

2. As of the date of this announcement, the company has received a total of RMB 47,052,918.99 in the first and second installments agreed in the land compensation agreement from Party A to the company, accounting for 90% of the total land compensation price.

The company will continue to follow up on the progress of this transaction and fulfill its information disclosure obligations in a timely manner. Investors are kindly requested to pay attention to investment risks.

Announcement is hereby made.

Board of Directors of Shanghai Tianchen Co., Ltd.

February 13, 2026