Lijin Finance

Newsflash

• A Young Hero From Wenchuan Vowed To Be Admitted To Tsinghua University, And Now He Has Obtained His Certificate And Married A Beautiful Wife. Fair Skin, Enviable Beauty

  On May 12, 2008, Wenchuan County, Sichuan Province, China suffered a strong earthquake with a magnitude of 8.0.

  Many buildings were reduced to rubble in the disaster.

  Tens of thousands of people were injured and thousands died in the hardest-hit areas. The disaster was very tragic.

  The earthquake destroyed the epicenter and caused immeasurable damage.

  

  All this happened on the campus of a primary school in Wenchuan County.

  The teaching building collapsed easily like building blocks in a strong earthquake, and students were trapped under the rubble.

  Lin Hao, a nine-year-old boy who was in class at the time, instinctively hid under the table when the earthquake struck.

  

  After the earthquake, Lin Hao tried his best to crawl out from under his desk. Looking around, he saw that the once neat and bright classroom was in devastation.

  The entire campus was filled with deafening cries, calls for help, and wailings, which came from the helpless lives in the ruins.

  Lin Hao's heart was touched, and he started the rescue operation without any hesitation, using his hands and feet to rescue two classmates from the ruins.

  

  At the same time, Lin Hao's teacher Fan Meizhong had already fled the scene when the earthquake struck. He was nicknamed "Fan Paopao" by netizens afterwards.

  In contrast, Lin Hao showed calmness and bravery beyond his peers, and did his best to save two classmates who were buried under the rubble, thus winning the reputation of the "Little Hero of the Wenchuan Earthquake".

  

  Young heroes, burning dreams in Beijing.

  People across the country are deeply saddened by this huge disaster, and countless love and donations continue to pour into Sichuan.

  Lin Hao's heroic deeds spread quickly through the media, and his name resounded at home and abroad, and he was regarded as a symbol of national hero.

  After the disaster, people across the country were deeply moved by the tragedy.

  

  On August 8, 2008, on the stage of the opening ceremony of the Beijing Olympic Games, the eyes of the whole world were focused on China.

  Lin Hao is honored to join basketball star Yao Ming as the most eye-catching torch bearer in the country.

  The whole world witnessed this little boy standing at the center of the world stage through live television.

  

  In an interview with CCTV, Lin Hao said passionately: "I dream of one day being admitted to Tsinghua University and studying architecture.

  I want to design a house that will not be easily shaken by earthquakes, so that more people can be protected from the threat of disaster.

  "His words were sincere and pure, winning warm applause from the audience.

  

  After Lin Hao's dream of becoming an architect at Tsinghua University was shattered, he did not give up, but chose to continue studying hard, which made him a good boy in everyone's eyes.

  However, at this time, some negative voices began to appear.

  

  Frustrated in his acting career, he was criticized and criticized.

  Although Lin Hao's inspirational story has touched countless people, there are still netizens who express doubts about the nine-year-old boy's statement that he wants to take the Tsinghua University entrance examination to learn to build earthquake-resistant houses.

  Some even accused him of becoming arrogant after gaining a halo and gradually losing his original intention and correct ideals.

  

  Major film and television companies are vying to invite Lin Hao to star in movies and TV series, hoping to use his influence to drive business opportunities.

  Under the temptation of the outside world, Lin Hao's study career was once interrupted and he turned to the entertainment industry.

  

  By 2014, Lin Hao had completely given up on his dream of attending Tsinghua University and instead applied for the performance departments of several art schools.

  However, because his academic performance was seriously behind, he found that he could not be admitted even if he took the exam, and repeatedly hit the wall.

  

  Lin Hao lost his ambition to get into Tsinghua University, but was severely criticized by netizens, who accused him of being "dazzled by fame" and "completely fishing for fame."

  People had high hopes for the "little hero of Wenchuan" who was favored by God. Now that they see him going astray, they naturally feel very disappointed and melancholy.

  

  A low-key return, the road to self-reliance.

  After three years of confusion and struggle, Lin Hao suddenly woke up in 2018.

  He gave up his dream of becoming a star and decided to get back on track with his studies, enrolling in a lesser-known college in Shanghai.

  

  After Lin Hao entered college, he faced ridicule from his family and cold treatment from his classmates.

  However, he was not defeated. Instead, he devoted himself to studying and relied on work-study to make ends meet.

  In his junior year, Lin Hao founded the campus second-hand market, creating living expenses not only for himself but also for his classmates.

  

  Although it was just an ordinary junior college, Lin Hao was not discouraged.

  "As a college student, I am already very content.

  "He often said this to his friends.

  Since 2016, Lin Hao has returned to his hometown in Wenchuan, Sichuan every year to release a charity album, aiming to raise funds for the Hope Primary School in the impoverished areas of Wenchuan, Sichuan.

  

  In 2018, Lin Hao established the "Lin Hao Love Foundation" to support poor students in his hometown.

  This matter has always been an important mission that Lin Hao has in mind.

  Through practical actions, Lin Hao showed that he still has a pure and kind heart.

  

  The sunny boy finally got a new life.

  In 2020, the news of Lin Hao's marriage suddenly caused an uproar on the Internet, seeming to make people remember this former "little hero" again.

  The bride's name is Charlie Zelam, a Tibetan girl from a well-off family who has been passionate about various artistic talents since she was a child.

  They met and fell in love at a little-known Shanghai college and are still in love today.

  

  This sensational marriage once again attracted the outside world's attention to Lin Hao's life.

  In the next two years, 26-year-old Lin Hao moved to Wenchuan, Sichuan with his wife, and chose to settle in his hometown, a land closely linked to his destiny.

  

  In 2022, Lin Hao joined the Communist Party of China.

  In the same year, the local government hired him as the publicity ambassador of Yingxiu Town in Wenchuan County.

  Through new media such as short videos and live broadcasts, Lin Hao uses his own personal experience to tell the outside world the story of Wenchuan people's continuous self-improvement and hard work.

  

  At present, Lin Hao is 28 years old and has become a young man with ideals. He has devoted himself to agriculture, tourism and other industries, and is committed to promoting the development and construction of his hometown.

  Although the glory of the past is no longer there, his life course shows us that everyone should move forward steadily and strive to pursue their ideals.

  

  In general, as a "little hero" who emerged from the 2008 Wenchuan earthquake, Lin Hao's story has deeply moved people of all ethnic groups across the country.

  Although he lost his way, he eventually found the right path in life again.

  

  Although he did not achieve great fame, he demonstrated his persistent pursuit of ideals and society with his practical actions.

  An ordinary person can also live a brilliant life through his own efforts.

  

  Conclusion.

  Lin Hao's life journey is full of twists and turns and hardships.

  However, it was these setbacks and trials along the way that shaped his simple, sincere, and kind character.

  

  Today, Lin Hao has emerged from the trough of his life and is showing his youthful vitality in the sunshine again.

  Lin Hao explained to us through his actions that everyone should have dreams, but they must be down-to-earth and rely on their own efforts to realize their dreams.

  Only in this way can life shine with its unique brilliance.

  

  Lin Hao's life journey records the process of a child who was once hailed as a "little hero" from glory to loss, to rediscovering faith, and finally shining in the ordinary.

  

  Lin Hao used practical actions to interpret the spirit of unremitting pursuit and struggle, proving that everyone can create a brilliant life through their own efforts.

  Lin Hao's story inspires us that no matter what difficulties we face, we should persist in our dreams and move forward steadily, so that we can regain the light of life.

  

  42 minutes ago

• Introduction To Litecoin: Based On The Bitcoin Protocol, Transactions Are Confirmed Quickly And Mining Is Open To The Public.

  Litecoin

  Litecoin is an online currency based on peer-to-peer technology, which can help users make instant payments to anyone in the world.

  Introduction to Litecoin

  It is based on the Bitcoin protocol, but unlike Bitcoin, it can be "mined" efficiently with consumer-grade hardware. Litecoin provides you with faster transaction confirmations (2.5 minutes on average), uses hard memory and a mining proof-of-work algorithm based on scrypt (an encryption algorithm), targeting ordinary computers and graphics processing units (GPUs) used by most people. The Litecoin network is expected to produce 84 million currency units.

  One of the design goals of Litecoin is to provide a mining algorithm that can be run simultaneously on the machines that mine Bitcoin. While application-specific integrated circuits (ASICs) designed for mining Bitcoin are gradually emerging, Litecoin is also following the technological evolution. But until Litecoin currency is widely adopted, it is unlikely that there will be an application specific integrated circuit (ASIC) designed specifically for Litecoin.

  ＞＞＞Litecoin LTC mining tutorial: cpu mining and gpu mining

  What is the difference between Litecoin and Bitcoin?

  Litecoin is inspired by Bitcoin (BTC) and technically shares the same implementation principles. The creation and transfer of Litecoin is based on an open source cryptographic protocol that is not governed by any central authority. Litecoin aims to improve Bitcoin and has three significant differences compared to it:

  First, the Litecoin network can process a block every 2.5 minutes (instead of 10 minutes), thus providing faster transaction confirmations.

  Second, the Litecoin network is expected to produce 84 million Litecoins, which is four times the amount of currency issued by the Bitcoin network.

  Third, Litecoin uses the scrypt encryption algorithm first proposed by Colin Percival in its proof-of-work algorithm, which makes Litecoin mining easier on ordinary computers compared to Bitcoin. Each Litecoin is divided into 100,000,000 smaller units, defined by eight decimal places.

  Litecoin History

  Litecoin was released on October 7, 2011 through the open source client on Github. The current (as of April 19, 2013) version of the client is v0.6.3c. Other clients have also been released.

  Litecoin has been in the news recently as an alternative to Bitcoin.

  On April 30, 2013, Mt. Gox, the world's largest Bitcoin trader, announced that it would temporarily postpone its plan to support Litecoin trading. Mt.Gox said it originally planned to launch a platform that supports Litecoin transactions in the past two weeks, but the plan was delayed due to a large-scale DDOS attack on the website.

  On July 3, 2013, Mt.Gox launched the API for LTC trading today in preparation for its official launch.

  Litecoin client

  Litecoin

  Litecoin is a free software project released under the MIT/X11 license, which allows you to run, modify and copy the software according to your needs. If you wish, you may also distribute modified versions of the software.

  The software is released with full transparency, allowing users to independently verify the binary version as well as the corresponding source code.

  Litecoin data block chain

  The Litecoin blockchain is capable of handling larger transaction volumes than its competitor, Bitcoin. Since data blocks are generated more frequently, the network can support more transactions without the need to modify the software in the future.

  As a result, merchants can get faster transaction confirmations and still be able to wait for more transaction confirmations when selling large-ticket items.

  Litecoin wallet encryption

  Wallet encryption keeps the private keys in your wallet safe, allowing you to view transactions and account balances, but you must enter your password before using Litecoin.

  This function not only prevents the intrusion of viruses and Trojans, but is also an effective legality check before payment.

  award

  "Miners" can initially produce 50 coins per data block. Every 4 years, the amount of currency produced is reduced by half (840,000 blocks).

  Therefore, the total amount of currency produced by the Litecoin network will be approximately 4 times that of Bitcoin, or 84 million Litecoins. (The content of this article is based on Baidu Encyclopedia and Wikipedia)

  Litecoin trading

  Litecoin transactions, balances, and issuance are processed by a peer-to-peer network similar to Bitcoin through the Scrypt proof-of-work scheme (when a sufficiently small hash value is discovered, a block is created, and Litecoin is issued, and the process of discovering this hash value and creating the block is called "mining").

  The issuance rate of Litecoin follows a geometric sequence, halving every four years (every 840,000 blocks), eventually reaching a total of 84 million LTC. Unlike Bitcoin, the memory-intensive nature of Scrypt makes Litecoin more suitable for "mining" with graphics processing units (GPUs). The FPGA (Field Programmable Gate Array) and ASIC (Application Specific Integrated Circuit) implemented for Scrypt are more expensive than the sha256 used by Bitcoin.

  Litecoin can currently be exchanged for fiat currencies as well as Bitcoin, mostly through online exchanges. Reversible transactions (such as those made with a credit card) are generally not used to purchase Litecoin because Litecoin transactions are irreversible and therefore pose chargeback risks.

  As of April 25, 2013, one Litecoin was worth approximately $3.97 or 0.028 Bitcoin. This makes Litecoin the second-largest electronic currency with a market capitalization of approximately $35,000,000.

  42 minutes ago

• Explanation On The Qualification Review Of Independent Directors Nominated By Yidiantianxia

  1. The nominee has passed the qualification review of the Nomination Committee of the fourth session of the Board of Directors of Yidian Tianxia Network Technology Co., Ltd., and the nominator and the nominee do not have any interest or other close relationship that may affect the independent performance of duties.

  RYes No

  If no, please explain in detail: ____________________________

  2. The nominee is not prohibited from serving as a director of the company under Article 178 of the Company Law of the People's Republic of China.

  RYes No

  If no, please explain in detail: ____________________________

  3. The nominee meets the qualifications and conditions for independent directors stipulated in the "Administrative Measures for Independent Directors of Listed Companies" of the China Securities Regulatory Commission and the business rules of the Shenzhen Stock Exchange.

  RYes No

  If no, please explain in detail: ____________________________

  4. The nominee meets the conditions for serving as an independent director as stipulated in the company's articles of association.

  RYes No

  If no, please explain in detail: ____________________________

  5. The nominee has participated in training and obtained relevant training certification materials recognized by the stock exchange (if any).

  Yes RNo

  If not, please explain in detail: The nominee has made a written commitment to participate in the latest independent director training and obtain an independent director training certificate recognized by the Shenzhen Stock Exchange.

  6. The nominee’s appointment as an independent director will not violate the relevant provisions of the Civil Servant Law of the People’s Republic of China.

  RYes No

  If no, please explain in detail: ____________________________

  7. The nominee's appointment as an independent director will not violate the relevant provisions of the Central Commission for Discipline Inspection of the Communist Party of China's "Notice on Regulating Central Management Cadres to Resign from Public Office or Serve as Independent Directors and Independent Supervisors of Listed Companies and Fund Management Companies after Retirement".

  RYes No

  If no, please explain in detail: ____________________________

  8. The appointment of the nominee as an independent director will not violate the relevant regulations of the Organization Department of the Central Committee of the Communist Party of China on the "Opinions on Further Regulating Part-time Work (Serving) of Party and Government Leading Cadres in Enterprises".

  RYes No

  If no, please explain in detail: ____________________________

  9. The nominee's appointment as an independent director will not violate the relevant provisions of the "Opinions on Strengthening the Anti-corruption and Integrity Construction in Colleges and Universities" issued by the Central Commission for Discipline Inspection of the Communist Party of China, the Ministry of Education, and the Ministry of Supervision.

  RYes No

  If no, please explain in detail: ____________________________

  10. The nominee's appointment as an independent director will not violate the relevant provisions of the People's Bank of China's "Guidelines for the System of Independent Directors and External Supervisors of Joint-stock Commercial Banks".

  RYes No

  If no, please explain in detail: ____________________________

  11. The nominee's appointment as an independent director will not violate the relevant provisions of the China Securities Regulatory Commission's "Measures for the Supervision and Administration of Directors, Supervisors, Senior Managers and Practitioners of Securities Fund Operating Institutions".

  RYes No

  If no, please explain in detail: ____________________________

  12. The nominee's appointment as an independent director will not violate the relevant provisions of the "Measures for the Administration of Qualifications of Directors (Governors) and Senior Managers of Banking Financial Institutions".

  RYes No

  If no, please explain in detail: ____________________________

  13. The nominee's appointment as an independent director will not violate the relevant provisions of the "Regulations on the Qualifications of Directors, Supervisors and Senior Managers of Insurance Companies" and the "Regulations on the Management of Independent Directors of Insurance Institutions".

  RYes No

  If no, please explain in detail: ____________________________

  14. The nominee’s appointment as an independent director will not violate other laws, administrative regulations, departmental rules, normative documents, Shenzhen Stock Exchange business rules and other relevant provisions on the qualifications of independent directors.

  RYes No

  If no, please explain in detail: ____________________________

  15. The nominee has basic knowledge related to the operation of listed companies, is familiar with relevant laws, administrative regulations, departmental rules, normative documents and Shenzhen Stock Exchange business rules, and has more than five years of legal, economic, management, accounting, financial or other work experience necessary to perform the duties of an independent director.

  RYes No

  If no, please explain in detail: ____________________________

  16. If nominated as an accounting professional, the nominee must at least have the qualification of a certified public accountant, or have a senior professional title, associate professor or above, or a doctoral degree in accounting, auditing or financial management, or have a senior professional title in economic management and have more than five years of full-time work experience in accounting, auditing or financial management and other professional positions.

  Yes No R Not applicable

  If no, please explain in detail: ____________________________

  17. Neither the nominee nor his immediate family members or major social relations work in the company or its affiliated enterprises.

  RYes No

  If no, please explain in detail: ____________________________

  18. The nominee and his immediate family members are not shareholders who directly or indirectly hold more than 1% of the company's issued shares, nor are they natural person shareholders among the top ten shareholders of the listed company.

  RYes No

  If no, please explain in detail: ____________________________

  19. The nominee and his immediate family members do not hold positions among shareholders who directly or indirectly hold more than 5% of the company’s issued shares, nor do they hold positions among the top five shareholders of the listed company.

  RYes No

  If no, please explain in detail: ____________________________

  20. The nominee and his immediate family members do not work in affiliated companies of the company’s controlling shareholder or actual controller.

  RYes No

  If no, please explain in detail: ____________________________

  21. The nominee is not a person who provides financial, legal, consulting, sponsorship and other services to the company, its controlling shareholders, actual controllers or their respective affiliated enterprises, including but not limited to all project team members of the intermediary agencies that provide services, reviewers at all levels, persons who signed the report, partners, directors, senior managers and principal persons in charge.

  RYes No

  If no, please explain in detail: ____________________________

  22. The nominee does not have any major business dealings with the listed company, its controlling shareholders, actual controllers, or their respective subsidiaries, nor does he hold a position in any unit or its controlling shareholder or actual controller that has any significant business dealings.

  RYes No

  If no, please explain in detail: ____________________________

  23. The nominee does not have any of the conditions listed in items 17 to 22 in the last twelve months.

  RYes No

  If no, please explain in detail: ____________________________

  24. The nominee is not a person who has been banned from the securities market by the China Securities Regulatory Commission and is prohibited from serving as a director or senior manager of a listed company, and the period has not yet expired.

  RYes No

  If no, please explain in detail: ____________________________

  25. The nominee is not a person who has been publicly determined by the securities exchange to be unfit to serve as a director or senior manager of a listed company and whose term has not yet expired.

  RYes No

  If no, please explain in detail: ____________________________

  26. The nominee is not a person who has been criminally punished by judicial authorities or administratively punished by the China Securities Regulatory Commission due to securities and futures crimes in the past 36 months.

  RYes No

  If no, please explain in detail: ____________________________

  27. The nominee is not a person who has been investigated by the China Securities Regulatory Commission or judicial authorities for suspected securities and futures crimes, and no clear conclusion has been reached.

  RYes No

  If no, please explain in detail: ____________________________

  28. The nominee has not been publicly condemned by the stock exchange or criticized more than three times in the past 36 months.

  RYes No

  If no, please explain in detail: ____________________________

  29. The nominee has no bad records such as major breach of trust.

  RYes No

  If no, please explain in detail: ____________________________

  30. The nominee is not an independent director who has been dismissed by the board of directors at the shareholders' meeting for two consecutive times and failed to attend in person or entrust other directors to attend board meetings for less than 12 months.

  RYes No

  If no, please explain in detail: ____________________________

  31. Including the companies nominated this time, the number of domestic listed companies for which the nominee serves as independent director shall not exceed three.

  RYes No

  If no, please explain in detail: ____________________________

  32. The nominee has served as an independent director in the company for less than six consecutive years.

  RYes No

  If no, please explain in detail: ____________________________

  The nominator solemnly promises:

  1. The nominator guarantees that the above statement is true, accurate and complete, and contains no false records, misleading statements or major omissions; otherwise, the nominator is willing to bear the legal liability arising therefrom and accept the self-regulatory measures or disciplinary sanctions of the Shenzhen Stock Exchange.

  2. The nominator authorizes the secretary of the company's board of directors to enter and submit the contents of this statement to the Shenzhen Stock Exchange through the GEM business area of ​​the Shenzhen Stock Exchange or to make public announcements. The above actions of the secretary of the board of directors are deemed to be the actions of the nominator, and the nominator shall bear the corresponding legal responsibility.

  3. During the period when the nominee serves as an independent director, if any circumstances arise that do not meet the requirements for independence and the qualifications for serving as an independent director, the nominee will promptly report to the company's board of directors and urge the nominee to immediately resign as an independent director.

  Nominator (signature/seal): Board of Directors of Yidiantianxia Network Technology Co., Ltd.

  February 26, 2026

  42 minutes ago

• Self-driving Mining Truck Shangbo Lei Technology Submits A Report To The Hong Kong Stock Exchange, And Customers Rely On It To Seek A Breakthrough

  Another company on the autonomous driving track is rushing to the capital market. Shanghai BoLei Intelligent Technology Co., Ltd. (hereinafter referred to as "BoLei Technology") recently officially submitted its report to the Hong Kong Stock Exchange. Its revenue increased from 69.565 million yuan in 2023 to 171 million yuan in 2024, and then to 315 million yuan in the first three quarters of last year, a year-on-year increase of more than 800%. Based on shipments and revenue in 2024, Boradium Technology is the world's largest provider of pure electric autonomous driving mining cards.

  Behind the impressive growth rate is serious customer dependence. In the first three quarters of last year, the single largest customer contributed as much as 65% of revenue, and the top five customers accounted for 97.7% of revenue. Bolei Technology chose its own mining truck brand to cover the market, promoted the increase in average selling price through product structure upgrades, and tried to break through the narrow door of expanding losses. Binding the mining giant is the driving force for Boonlei Technology to take off, and it is also the Sword of Damocles hanging overhead. This experiment on the commercialization of autonomous driving is reaching its climax with the submission of the prospectus.

  

  Private brand model

  In order to emphasize the characteristics of its own business or its advantages in a certain field, companies preparing to go public often add some attributive words before the industry they are in. Bolei Technology, which recently submitted a report, describes itself this way: "According to data from Chiushi Consulting, we are the world's largest provider of electric driverless mining trucks in terms of shipments and revenue in 2024, and are the first company in China to launch its own brand of self-driving mining trucks and achieve mass production."

  According to the prospectus, BoLei Technology’s flagship BoLei Electric Bull brand has launched a series of models developed in cooperation with OEMs (original equipment manufacturers) and will be launched on the market in 2023.

  The sale of pure electric self-driving mining trucks is BoLei Technology’s main business, intelligent vehicles. According to information from Chishi Consulting, among self-driving mining card solution providers, BoLei Technology is the only supplier in the industry with independent production facilities. It is also the exclusive provider of integrated charging and swapping mining cards.

  The smart car business mainly obtains revenue in three ways. In addition to directly selling vehicles to end customers, it also includes selling vehicles to leasing companies and selling autonomous driving solutions including iDrive autonomous driving systems. Based on the results disclosed in the prospectus for 2023, 2024 and the first three quarters of last year, the smart car business revenue was 57.887 million yuan, 149 million yuan, and 291 million yuan respectively, accounting for 83.2%, 87.2%, and 92.4% of the revenue respectively.

  Compared with the first three quarters of 2024, the number of self-driving mining trucks sold by Borei Technology in the first three quarters of last year increased from 0 to 136. This has also become the main reason why the smart car business revenue increased by 1298.6% year-on-year. Regarding the model proportion of the 136 mining trucks and the operating reasons for adopting its own brand model, a reporter from Beijing Business Daily interviewed Bolei Technology through official channels, but the other party had not responded as of press time.

  However, Borei Technology stated in its prospectus that the company hired third-party suppliers to provide parts and components required for product manufacturing, and also cooperated with contract manufacturers, who were responsible for the manufacturing, assembly and testing of vehicles and other products. At the same time, it is mentioned in the risk factors section that "the company's reliance on third-party suppliers to manufacture, assemble and test our products will weaken our control over product quantity and quality and may harm our business."

  Speaking of this combination, Wang Peng, an associate researcher at the Beijing Academy of Social Sciences, told a reporter from the Beijing Business Daily that what the company calls "independent production facilities" usually refers to the key links of the core integration of the autonomous driving system, sensor calibration, and joint debugging of software and hardware. Acknowledging dependence on third parties is to reveal to investors the objective risks of supply chain disruption, and also to draw the line of responsibility between technical solutions and hardware manufacturing.

  The average price of mining cards will fall

  As the core equipment responsible for mining transportation tasks, self-driving mining trucks are the starting point for promoting mine automation. Together with excavation, mining and loading, energy replenishment and other links, they form a full operation chain. In the entire chain, Bolei Technology is not limited to selling cars.

  The prospectus shows that Bolei Technology’s business landscape consists of three sectors: smart cars, smart mines and smart transportation. Smart Mining Solutions is positioned as a general contracting service provider for the whole mine technology, providing integrated solutions covering loading, transportation, unloading, and energy supply. Revenue comes from the overall solution package, including equipment sales, installation and commissioning, and operation and maintenance service fees. The smart transportation business provides unmanned transportation services for mines, and revenue comes from ongoing operating service fees collected on a monthly basis.

  Returning to the core smart car sector, an irreversible industry trend is taking shape: downward pressure on the average price of mining trucks.

  According to information from Chishi Consulting, the average price of ordinary mining cards in 2024 will be approximately 1.5 million yuan. As technology iteratively upgrades and manufacturing costs continue to decline due to economies of scale, the average price of mining cards is expected to show a steady downward trend over time.

  The main cost of the autonomous driving kit is autonomous driving sensors including lidar, millimeter wave radar, etc. According to industry estimates, the unit price of lidar (a key sensor used for target detection and identification in level 4 autonomous vehicles) is expected to drop by approximately 30% from 2024 to 2030.

  Faced with the trend of price cuts, Borei Technology provided a hedging strategy of using "large" to offset "lower" in its prospectus.

  When interpreting the increase in smart car business revenue, BoLei Technology said, "We have strategically shifted our sales mix to higher-tonnage and higher-value mining card models, such as the BoLei Electric Niu 145 mining card. Compared with the more common BoLei Electric Niu 105 model in 2023, this model has a higher average selling price."

  In short, although the average price of mining trucks is declining, the company is trying to increase the overall unit price by selling flagship models with larger loads and higher configurations. Compared with the 105-ton mining truck, the 145-ton mining truck is not only an increase in load capacity, but also a comprehensive upgrade in battery capacity, wire-controlled chassis complexity, and autonomous driving computing power requirements. This "upward breakthrough" in product structure is Bolei Technology's means to maintain high revenue growth and stable gross profit margin in the downward cycle of industry average prices.

  However, overall, the smart car business with the largest revenue contribution is not the sector with the highest gross profit margin. In the first nine months of 2025, the gross profit margins of the smart car, smart mining and smart transportation businesses were 16.1%, 48.9% and 3.6% respectively.

  Revenue from the largest customer accounts for 65%

  An episode is that when Bolei Technology was founded, it did not directly target the autonomous driving mining truck track. In 2015, Boradium Technology established a limited liability company in Zhangjiang, Shanghai, and launched an intelligent inspection system for photovoltaic power stations. In 2018, it cooperated with molybdenum and tungsten manufacturers to build China's first electric self-driving mining truck fleet. In 2020, it will build an unmanned mining truck production base with its partners.

  The customers of Bolei Technology are mainly mining service companies, mine owners, mining truck OEMs and leasing companies. According to the prospectus, the company has received orders for over a thousand self-driving mining trucks from leading mining service companies. In 2023, 2024 and the first three quarters of 2025, the revenue from the five largest customers was 63.6 million yuan, 164 million yuan and 308 million yuan respectively, accounting for 91.5%, 96.1% and 97.7% of the total revenue respectively. The revenue proportions of the largest customers were 70.4%, 37.9% and 65% respectively.

  In the risk factors section, Bolei Technology also mentioned its reliance on large customers, saying, "Given the nature of our business, the majority of our annual revenue comes from a small number of customers."

  Angel investor Guo Tao told a reporter from the Beijing Business Daily, "In the short term, large customers can bring stable orders and revenue and help companies quickly ramp up production, but over-reliance will lead to a weakening of bargaining power. If customers reduce purchases or change cooperation, it will directly impact revenue. However, the core risk of a company's development depends more on the match between technology iteration capabilities and industry demand. If mining truck autonomous driving technology is subverted, or mining intelligent transformation progress is not as expected, even if customers are dispersed, companies may still face a survival crisis."

  Whether it is purely electric or focusing on its own brand of mining trucks, Bolei Technology has not yet perfected its business model. The company's adjusted net losses in 2023 and 2024 were 32.281 million yuan and 60.428 million yuan respectively. In the first three quarters of last year, the figures were 53.304 million yuan, a year-on-year expansion of 17.9%.

  2 hours ago

• Chinese Valentine's Day: A Symbol Of Love, A Beautiful Festival Carrying Ancient And Modern Romance And Cultural Connotations

  "The distant Altair, the bright river, the Han girl." Every year on the seventh day of the seventh lunar month, it is the Qixi Festival, a traditional Chinese festival. In the "Qixi Festival", a festival full of romance, the story of the Cowherd and the Weaver Girl looking at each other across the Milky Way and seeing each other again on the Magpie Bridge is full of love and conveys warmth. It becomes more gentle and moving in the continuous inheritance of Guolai, making people yearn for it. Because of this, the Chinese Valentine's Day has been endowed with a symbol of love and has become a beautiful festival for single men and women to express their love for each other, for couples to express their love to each other, and to grow old together.

  

  Everyone yearns for beautiful feelings, and love is the distinctive theme of Chinese Valentine's Day. In the five thousand years of history and culture of the Chinese nation, there are so many love stories. From the beautiful myth of "Liang Shanbo and Zhu Yingtai fly together as butterflies", to the classic masterpiece of "Xu Xian and White Snake interpret the legend", to the unparalleled love of "Dong Yong and Xiao Qi finally get married"; from the lingering longing of "a kind of lovesickness, two leisurely worries", to the unforgettable feeling of "except Wushan, it is not a cloud", to the sweet tenderness of "the two hearts are filled with fragrance"... In the glittering cultural corridor, every story about a loving couple, every pair of familiar names, and every household legend embodies people’s expectations and yearnings for faithful love and a happy and fulfilling life. This not only embodies the value concept of “harmony and perfection” of the Chinese people, but also the charm of the traditional culture of the Chinese nation.

  

  With the development of the times, the cultural connotation of Chinese Valentine's Day continues to be enriched and enriched. The plain and sincere, warm and long-lasting cultural beauty has traveled through the long river of history and shines brighter in the new era. Looking at the present, in the stage of acquaintance and love, the thick stacked tickets record the courtship process, and the affectionate words are shy and touching; after entering the marriage hall, the pots and pans play the harmonious music of happy days, and the love full of "fireworks in the world" is sublimated into "heart and hand" in the lively life. The "Qixi Festival", which reflects the Chinese nation's views on marriage, love and family, continues to deepen in shouldering family responsibilities, becoming an emotional bond that holds hands and walks together through thick and thin. It also makes the cultural connotations of "harmony" and "consummation" become a beautiful symbol of inheriting the past and leading to the future. Therefore, in real life, conveying the modern family style of loving each other and being happy is not only a bright spot in the magnificent picture of Chinese culture, but also a vivid footnote that highlights the meaning of Chinese Valentine's Day.

  

  "Chinese Valentine's Day" is a symbol of "little love" and the continuation of "big love". "Small love" is the personal love of "when golden wind and jade dew meet, they will conquer countless people in the world", "the falling flower is independent, and the swift swallows fly together", while "big love" is the universal love of "beheading does not matter, as long as the principle is true" and "why do I always have tears in my eyes? Because I love this land deeply". When "little love" and "big love" meet unexpectedly, the love of "Chinese Valentine's Day" becomes even more precious.

  

  On the Chinese Valentine's Day, on the front line of border defense, the people's soldiers watered the hope of life with boundless "great love" and wrote a hymn of life that moved the world; on the front line of the war against the epidemic, the "Angel Dabai" faced the scorching sun, braved the scorching heat, and worked hard day and night on the job, interpreting the feelings and responsibilities of "great love" with actions, building a solid Great Wall to protect people's lives and health; on the battlefield, youth "volunteer red" Go down to the grassroots level, observe people's sentiments, resolve people's worries, warm people's hearts, constantly exchange "hardship index" for the people's "happiness index", and truly let "great love" warm people's hearts in doing practical things... Every firm retrograde, every troubleshooting and relief, every tenacious resistance is a silent declaration of "clear love", and it is also the unchanging truth that the Chinese nation has gone through hardships and endures, has gone through vicissitudes and is in its prime.

  

  It's you who will be waiting for you in "Qi", and I will be looking forward to you in "Xi". Among the stars, "Chinese Valentine's Day" is the reunion of the golden wind and jade dew; under the grapevines, "Chinese Valentine's Day" is the gentle whispers of the Cowherd and the Weaver Girl. Whether it is love or family affection, whether it is "little love" or "big love", always keep the original heart, "start from the heart", encounter romance, encounter beauty, manage with heart, and let personal emotions precipitate in the baptism of time into the "happiness gene" of the family, country and the world. This is the best interpretation of the connotation of "Qixi Festival".

  Source: Jingchu.com

  3 hours ago

• Father’s Wedding Gift Returned 188,000 Yuan, The Sky-high Price Of The Gift Has Become A Social Pain Point

  The bride price is a carrier of warmth in traditional Chinese wedding customs. It carries blessings for the couple and respect for the woman's family. It is a etiquette rather than a transaction. However, I don’t know since when, this warmth has been distorted by the wind of comparison and alienated by the desire for utilitarianism. In some places, betrothal gifts have changed from "reciprocity" to "clearly marked prices", and from "blessing the newlyweds" to "family games". All kinds of realistic pressures discourage young people who truly love each other, causing ordinary families to become poor or return to poverty due to marriage. What's more, alienating marriage into a naked money transaction will eventually tear apart families, intensify conflicts, and become a difficult problem in social governance.

  The reason why this video has received so much attention is precisely because at a time when sky-high betrothal gifts have repeatedly become a social pain point and some marriages are hijacked by money, this father used the simplest actions to set an example for changing customs. He chose to return the bride price, of course, not because he did not value his daughter's marriage, but because he hoped to relieve the burden and pave the way for the small family. What's even more touching is that the young couple, especially the groom, understand the good intentions of their parents and promise to use the money to manage their marriage and family well. I believe that the mutual understanding and unity of the two families will definitely make the future more prosperous, which is far more precious than money.

  Of course, controlling sky-high betrothal gifts and promoting the reform of marriage customs have never been just a choice for one person or a family, but a common issue for the whole society. In recent years, the Central Government’s No. 1 document has named and rectified high-value bride gifts in rural areas for many consecutive years. The No. 1 central government document in 2026 once again proposed to continue to rectify high betrothal gifts in rural areas, strengthen joint management of inter-provincial adjacent areas; guide the establishment of correct views on marriage, love, childbirth, and family, and cultivate a simple and civilized marriage custom culture. At the same time, many places have also introduced village rules and regulations to curb the tendency of comparison and advocate zero and low betrothal gifts. A series of measures are cooling down the temperature of betrothal gifts and heating up new trends, and the results of the reform of wedding customs are gradually showing.

  But we must also clearly realize that the formation of high betrothal gifts has complex social soil. It not only stems from the comparison mentality in the traditional concept that "the higher the betrothal gift, the more respect you will have", but is also subject to the structural contradiction of the unbalanced male-to-female ratio in rural areas. It also reflects the practical anxiety of some families who hope to seek "marriage security" for their daughters through betrothal gifts. This shows that the management of sky-high betrothal gifts relies on both the rigid constraints of policies and the flexible guidance of ideas; it relies on the continuous improvement of the system and the infiltration of family traditions; it relies on both the active promotion of the government and the conscious participation of the masses.

  Specifically, on the one hand, we must continue to strengthen guidance through village regulations, red and white councils and other vehicles, and introduce more incentive measures for "zero-betrothal families" to make civilized marriages honorable and beneficial; on the other hand, we must also severely crack down on chaos such as marriage trusts and marriage fraud in accordance with the law, further clarify the standards for the return of betrothal gifts through judicial channels, and maintain the bottom line of fairness with the rigidity of the rule of law. Looking at a deeper level, the fundamental solution to changing customs is to better protect women's rights and interests, especially to create a fairer employment and development environment for marriageable women. Only when women no longer need to obtain the so-called "security" through high betrothal gifts, can marriage truly get rid of the burden of money and return to the true nature of emotion.

  We hope that with the joint efforts of the whole society, the betrothal gifts can return to the true nature of "rituals", marriages can start from the original intention of "love", and every young person can go into battle lightly and embrace the pure and practical happiness. Just as the father in the video hopes: There is nothing more worthy of our protection than two young people living happily together.

  5 hours ago