The 25th meeting of the sixth board of directors reviewed and approved the "Company's 2025 Board of Directors Work Report", "The Company's 2025 Annual Report Full Text and Summary", "The Company's 2025 Financial Final Accounts Report", "The Company's 2025 Profit Distribution Proposal" and other proposals.
At 8:40 a.m. on August 13, Trump and Musk’s X Space, which had been warming up for a week, officially started. The interview was originally scheduled to start at 8 o'clock, but users were actually unable to enter at first. Musk said that he "encountered a large-scale cyber attack" and the interview was delayed for about 40 minutes.
There was no mention of Bitcoin or cryptocurrency in the unscripted interview, and real-time data showed that more than 1.3 million people listened to the chat on the X platform. Prior to this interview, on Polymarket, users were betting on a 65% chance of mentioning “cryptocurrency” in the interview, with a total of over $600,000 bet on the topic.
However, just before and during the dialogue between the two parties, in addition to Trump's original political meme tokens MAGA and TRUMP, which saw significant increases, there were also a large number of meme tokens that opened positions, but the increases and decreases fluctuated greatly, such as Yeah, New World Order, Dark Space, etc.
What did Trump and Musk talk about?
attempted shooting incident
Trump said he had "more faith" in God after surviving the assassination. Musk has been trying to get Trump to criticize the Secret Service's failures after Trump praised the sniper who killed his would-be shooter, but interestingly, Trump mostly praised them.
immigration policy
About 20 minutes later, Trump finally brought up his Democratic rival Kamala Harris, attacking her and now-President Joe Biden for lax immigration policies and allowing undocumented immigrants to cross the U.S.-Mexico border.
Praising Musk and Tesla
Trump has previously been critical of electric vehicles, but he praised Musk and Tesla, calling his product "incredible." Trump also praised Musk's intelligence, saying, "You have an absolutely rich mind. You and I can talk about rockets and tunnels and electric cars," referencing Musk's many business ventures.
Musk says he will play a role in cutting federal spending
This shows that Musk is increasingly involved in American politics. Musk has called for the establishment of a government commission to ensure the efficient use of taxpayer funds, and has recommended himself to serve on the commission. "I'd love to be a part of a committee like this - I'd be very happy if it was established," Musk said. Trump praised the idea, calling Musk "the greatest cutter."
praise argentine president
Trump and Musk praised Argentina's liberal president Javier Milei. Musk and Milei met several times in the United States.
Inflation "completely destroys" people's lives, prices must be lowered
Trump also reiterated his assertion that he gets along well with Russian leader Vladimir Putin. When talking about inflation, Trump said, "People are completely destroyed by inflation" and "We have to bring prices down." "I don't think we should denigrate the oil and gas industry," Musk said when talking about the oil and gas industry. He said the economy depends on these energy sources. But he did say he wanted the U.S. to move toward a "more sustainable economy" because of environmental pollution.
Musk calls for votes for Trump
In addition to some other policy issues, Musk ended the interview by looking back on his own political history. "I didn't care much about politics before," Musk said. He described himself as a moderate and said similar listeners should vote for Trump.
TRUMP and MEGA have increased significantly, and a number of political meme tokens have opened positions
As of 11:30 a.m. on August 13, MAGA (TRUMP) rose 3.97% in 24 hours, MAGA (MAGA) rose 8.21% in 24 hours, and Super Trump Coin (STRUMP) rose 6.65% in 24 hours.
Compared to these political meme tokens that have been established for some time, as of 9:20 a.m. on August 13, there are these Trump and Musk meme tokens with "crazy" positions on Solana:
@realDonaldTrump (RDT)
Established time: 23:47 (August 12)
Number of transactions: 49426
Transaction volume: $8.9 million
Market cap: $981,000
24H increase: 2,080%
GROK 2 (GROK2)
Established: August 12
Number of transactions: 903,096
Transaction volume: $14.4 million
Market cap: $1.5 million
24H increase: 106%
YEAH (Yeah)
Established: 8:56
Number of transactions: 21762
Transaction volume: $907,000
Market cap: $751,000
24H increase: 1027%
New World Order (NWO)
Established: 8:43
Number of transactions: 33229
Transaction volume: $465,000
Market value: $27,000
24H increase: -56.14%
Dark Space (DSPACE)
Established: 7:37
Number of transactions: 57076
Transaction volume: $2.3 million
Market cap: $7,800
24H increase: -89.27%
Judging from the performance of these meme tokens, the rise and fall fluctuate greatly. Usually, they are prone to sharp declines after the popularity of the meme subsides. Users need to DYOR.
On Monday, Trump "returned" to X and published multiple posts on X, including a campaign video, which also partially drove the rise of related meme tokens. As of press time, Trump’s probability of winning on the prediction market Polymarket was 46%, lower than Harris’s 52%.
Financial News Agency | Blockchain Daily, August 31 (Reporter Xu Cihao) Recently, market rumors have revealed that the crypto exchange FTX has officially acquired Huobi with a valuation of US$5 billion and will subsequently change its name to HTX. Later, FTX founder Sam Bankman-Fried (SBF) clarified on social media that he did not intend to acquire Huobi.
Bloomberg previously reported that Li Lin, the founder of Huobi Group, is negotiating with a group of investors, hoping to sell about 60% of his shares in Huobi at a valuation of US$3 billion. Potential transaction targets include FTX founder SBF.
In response to various market news, a reporter from Blockchain Daily learned from insiders that "Li Lin is indeed selling shares, but it is not known to whom."
Huobi officials responded to reporters saying that there is currently no latest update on this information to share. The company is operating normally and continues to provide safe and reliable services to customers.
As the leading cryptocurrency exchange in the industry, Huobi has reached a crossroads again after the "9·4" incident in 2017, nine years after its establishment.
Former top player
In September 2013, three years after he founded Renrenzhe, Li Lin, a native of Hunan, founded Huobi.com (Huobi for short).
This year, Bitcoin ushered in a bull market. At the beginning of the year, the price of Bitcoin was still $13. By the end of the year, the price had exceeded $800, an increase of more than 6,000%.
Huobi quickly became the leading Bitcoin trading platform by relying on its “free transaction fee” marketing strategy. By around 2014, it had occupied more than 50% of the global Bitcoin trading market, and Li Lin also became the "big brother" of the industry.
However, in 2017, the currency circle encountered an industry crisis in the country.
On September 4, 2017, the central bank and seven other ministries and commissions issued the "Announcement on Preventing Financing Risks of Token Issuance", halting ICOs and defining them as illegal financial activities.
"Tokens or 'virtual currencies' used in token issuance financing are not issued by monetary authorities, do not have monetary attributes such as legal and mandatory, do not have the same legal status as currency, and cannot and should not be used as currency for circulation in the market." the announcement stated.
As a result, all domestic cryptocurrency exchanges were ordered to close within a time limit and stop new user registrations.
Since then, Huobi has switched cryptocurrency trading to the "Huobi Global Station" and placed its exchange business entities overseas; domestically, it has retained compliance entities such as Huobi China, and its business mainly serves the blockchain + industry.
At this stage, Huobi Global began its overseas layout, setting up sites in South Korea, Japan, the United States, Russia and other countries and regions. The monthly report in November 2017 stated that its new user growth was 2055%.
The growth of Huobi Global is also due to the industry bull market that started in the second half of 2017. In this bull market, the price of Bitcoin has reached a maximum of around $20,000.
However, the biggest beneficiary of this bull market is not Huobi, but Binance. After seven ministries and commissions issued the "Announcement on Preventing Token Issuance Financing Risks," Binance, which had just been established, all moved overseas and expanded significantly around the world, becoming the world's largest Bitcoin exchange in one fell swoop.
At this point, the market situation in which Binance is the dominant player has been formed.
The huge profits from crypto exchanges are beyond imagination. A reporter from Blockchain Daily previously reported that Binance’s profit in the first quarter of 2021 was US$3 billion, which is 19.2 billion yuan when converted into RMB, making more than 200 million RMB every day. Huobi’s profits in April 2021 also exceeded US$500 million, with daily profits exceeding US$16.67 million, which translates to more than 100 million RMB.
How much money has Li Lin made in the cryptocurrency industry?
According to the global rich list released by Hurun Research Institute in March 2022, Li Lin appeared among them with assets of 11 billion yuan. Appearing with him were Changpeng Zhao, founder of Binance, Sam Bankman-Fried, founder of FTX exchange, and Xu Mingxing of Ouke Cloud Chain.
Huobi’s “defeat”
2021 will become a turning point for Huobi.
On September 24, 2021, ten departments including the central bank issued the "Notice on Further Preventing and Dealing with the Risks of Speculation in Virtual Currency Transactions", once again emphasizing that virtual currency-related business activities are illegal financial activities. The "Notice" also clarifies that the provision of services by overseas virtual currency exchanges to residents in my country through the Internet is also an illegal financial activity. Compared with the multi-ministerial announcement in September 2017, this announcement clarified the gray area in which exchanges operate and strictly prohibits the provision of services to residents in China.
After September 4, 2017, various exchanges claimed that they would not provide services to the mainland, but this is not the case. In July 2018, a Beijing News investigation found that five of the top ten exchanges opened registration to mainland Chinese users, including Huobi, OKEx, Binance, etc.
After the "924" notice last year, Huobi took the lead in stating its intention to remove mainland users and clarified the removal process. On the afternoon of September 26, its official website released the "Announcement on the Gradual and Orderly Clearance of Existing Users in Mainland China." Huobi Global will authenticate existing users in mainland China and plans to complete the orderly clearing out before 24:00 on December 31, 2021, while ensuring the security of user assets. The announcement also stated that Huobi Global had stopped the registration of new users in mainland China on September 24.
At the same time, Li Lin is also clearing out domestic company entities. According to the industrial and commercial information of Tianyancha, among the seven companies for which Li Lin serves as the legal representative, except for Hainan Zhixu Shoujing Business Service Co., Ltd., which is still in existence, six including Beijing Huobi Tianxia Network Technology Co., Ltd. have been cancelled.
After withdrawing from the mainland Chinese market, Huobi co-founder Du Jun stated on social media that Huobi will focus on compliance business to expand overseas markets.
At that time, Huobi also began to learn from other exchanges and moved some employees of the exchange business overseas in an attempt to open up overseas markets. However, from the data point of view, Huobi’s overseas market has not opened up.
According to Coingeck market data, the trading volume of Binance, FTX, Coinbase, OKX, KuCoin, etc. has exceeded Huobi. As of press time, Huobi’s trading volume in the past 24 hours was US$658 million, which was 3.8% of Binance’s US$17.3 billion trading volume.
A former key account manager of Huobi told a reporter from Blockchain Daily that Huobi actually wanted to form an overseas team as early as 2020, but staff could not go out due to the epidemic at that time; by the time it started taking action at the end of 2021, the best opportunity had been missed, and Huobi team members lacked "overseas genes." "It is said that Huobi wants to change its name, or incubate a new exchange to continue to operate in the mainland market." said the person above. Huobi denied this to reporters.
In addition, a person who has a good personal relationship with Li Lin told the Blockchain Daily reporter that Li Lin’s idea of selling Huobi shares is not a recent one. He analyzed that Binance founder Zhao Changpeng and others are overseas, while Li Lin is "physically in the country" and needs to bear greater risks.
In response to market news that Li Lin is selling shares in Huobi, a Huobi insider told reporters: "Li Lin is indeed selling shares, but we don't know who he is selling to."
"Three or four people, including Li Lin, know who it was sold to, and the information from others is inaccurate because even the vice president level doesn't know who it was sold to," the insider said.
As of the close on March 12, 2026, Jiansheng Group (603558) closed at 11.81 yuan, down 2.48%, with a turnover rate of 1.5%, a trading volume of 51,300 hands, and a transaction volume of 61.2233 million yuan.
Focus of the day
Transaction information summary
On March 12, the net outflow of main funds was 65,600 yuan, accounting for 0.11% of the total turnover; the net inflow of hot money was 5.4183 million yuan, accounting for 8.85% of the total turnover; the net outflow of retail funds was 5.3526 million yuan, accounting for 8.74% of the total turnover.
Summary of company announcements
Zhejiang Jiansheng Group Co., Ltd. plans to implement the 2025 annual profit distribution plan, distributing a cash dividend of 0.35 yuan (tax included) per share, not giving out bonus shares, and not converting capital reserve funds into share capital. This profit distribution is based on the total share capital registered on the equity registration date for equity distribution minus the number of shares in the special securities account for repurchase. If the share capital changes, the distribution ratio per share will remain unchanged, and the total distribution amount will be adjusted accordingly. The plan has been reviewed and approved by the board of directors and still needs to be submitted to the company's 2025 annual shareholders' meeting for review. Combined with the cash dividends implemented in the first half of 2025, the cumulative cash dividend amount this year totaled 202,205,786.90 yuan, accounting for 49.94% of the net profit attributable to shareholders of listed companies in 2025.
The 25th meeting of the sixth board of directors reviewed and approved the "Company's 2025 Board of Directors Work Report", "The Company's 2025 Annual Report Full Text and Summary", "The Company's 2025 Financial Final Accounts Report", "The Company's 2025 Profit Distribution Proposal" and other proposals. In 2025, the company will achieve a net profit of 404,921,600.55 yuan attributable to shareholders of the listed company, and plans to distribute a cash dividend of 3.5 yuan (tax included) to all shareholders for every 10 shares, for a total cash dividend of 115,359,124.65 yuan (tax included). The meeting also reviewed and approved matters such as renewing the appointment of Tianjian Accounting Firm as the audit agency for 2026, applying for comprehensive credit of no more than 3 billion yuan, carrying out foreign exchange hedging business, anticipating a guarantee limit of no more than 2.6 billion yuan, and using no more than 100 million yuan of its own funds for short-term financial management. Some proposals still need to be submitted to the shareholders' meeting for review.
The company will hold the 2025 annual shareholders' meeting on April 3, 2026. The meeting will use a combination of on-site voting and online voting. Online voting will be conducted through the Shanghai Stock Exchange system. The equity registration date is March 27, 2026, and all A-share shareholders can participate in the meeting. The meeting reviewed proposals including the 2025 board of directors work report, annual report, financial final accounts, profit distribution, renewal of accounting firm, bank credit, foreign exchange hedging, guarantee limit, director and executive remuneration system, self-owned fund financial management and other proposals. The votes of small and medium investors on proposals 4 to 11 will be counted separately.
The Audit Committee of the Board of Directors held a total of 4 meetings in 2025, and reviewed the company's 2024 annual report, financial final accounts report, internal control evaluation report, renewal of the audit agency, foreign exchange hedging business, guarantee limit estimates, accounting policy changes and other matters, and reviewed each quarterly and semi-annual financial statements. The committee supervised and evaluated the work of the external audit agency, guided the internal audit, and reviewed the effectiveness of internal controls. It believed that the company's financial reports truly and accurately reflected operating results and that the internal control system was sound and effective. The committee recommended that Tianjian Accounting Firm be re-appointed as the audit agency in 2025.
The board of directors evaluated the independence of the current independent directors Xie Shilei, Besai, and Chen Weiguo. After verification, the above-mentioned persons did not hold any position in the company other than independent directors, nor did they hold any position in the company's major shareholder company. They did not have any interest relationships such as relatives, shareholdings, major business dealings, or other relationships with the company, its major shareholders, and actual controllers, or other relationships that might hinder their independent and objective judgment. They were in compliance with the requirements for the independence of independent directors under relevant laws and regulations.
Tianjian Accounting Firm audited the effectiveness of the internal control over financial reporting of Zhejiang Jiansheng Group Co., Ltd. as of December 31, 2025. The audit results showed that the company maintained effective internal control over financial reporting in all major aspects in accordance with the "Basic Standards for Enterprise Internal Control" and relevant regulations on that date.
The company plans to continue to appoint Tianjian Accounting Firm (Special General Partnership) as the company's audit agency and internal control audit agency in 2026. Tianjian Accounting Firm was established in 2011 and is qualified for securities services. In 2024, it provided audit services to 756 listed companies, with a total audit fee of 735 million yuan. Project partner Liu Jiangjie, signing certified public accountant Gong Fangsen, and quality control reviewer Wei Biaowen all have corresponding qualifications. They have not been subject to criminal punishment in the past three years, and some personnel have been subject to supervisory and management measures. The audit fees will be determined by the company's management and the accounting firm based on actual conditions.
The company evaluated the performance of Tianjian Accounting Firm's annual audit in 2025. The report shows that Tianjian Accounting Firm's qualifications are in compliance with regulations, its practitioners have professional qualifications, and project team members have not found any circumstances that affect their independence. Although there was one supervisory and management measure recorded in the past three years, there were no major violations. During the audit process, the firm implemented quality control review procedures, formulated a reasonable work plan, equipped with sufficient human resources, and had strong risk-taking capabilities. It has fulfilled relevant civil litigation judgments on schedule, without affecting its ability to practice.
The Audit Committee of the Board of Directors reports on the company's performance of supervisory responsibilities by the accounting firm for the 2025 annual audit. Tianjian Accounting Firm is qualified to audit securities services. At the end of 2025, it had 250 partners and 2,363 certified public accountants, 954 of whom had signed securities service business audit reports. Total business income in 2024 will be 2.969 billion yuan, auditing business income will be 2.563 billion yuan, and securities business income will be 1.465 billion yuan. The firm provides audit services to 756 listed companies, involving manufacturing and other industries, including 578 manufacturing clients. The company held the board of directors and shareholders' meetings respectively on March 24 and April 15, 2025, and reviewed and approved the renewal of Tianjian Accounting Firm as the company's 2025 audit agency and internal control audit agency. The Audit Committee maintained communication with the accounting firm during the annual report audit, reviewed its professional ability, and believed that it completed the audit work independently, objectively and fairly.
Tianjian Accounting Firm audited the summary table of non-operating fund occupation and other related fund transactions of Zhejiang Jiansheng Group Co., Ltd. in 2025 and believed that the summary table complied with relevant regulations in all major aspects and truthfully reflected the company's non-operating fund occupation and other related fund transactions in 2025. This report is for annual report disclosure only and may not be used for other purposes.
The company plans to use its idle self-owned funds not exceeding RMB 100 million to purchase fixed income or low-risk short-term financial products with high security and good liquidity, and the investment period shall not exceed 12 months. This matter has been reviewed and approved at the 25th meeting of the sixth board of directors and still needs to be submitted to the company's shareholders' meeting for review. The authorization period starts from the date of review and approval by the shareholders' meeting and ends on the date of the next annual shareholders' meeting, and the funds can be used on a rolling basis. The company has formulated risk control measures, and the independent directors also expressed their agreement.
Due to a high proportion of export business, the company and its subsidiaries mainly use foreign currencies such as US dollars for settlement. In order to reduce the adverse impact of exchange rate fluctuations on the company's operating performance and cost control, it plans to carry out foreign exchange hedging business. Transaction varieties include foreign currency exchange rates such as US dollars, and trading tools include forward foreign exchange purchase, forward settlement, foreign exchange swaps and other foreign exchange financial derivatives. The transaction amount does not exceed US$150 million or other foreign currencies, and the source of funds is the company's own funds. This matter has been reviewed and approved by the Audit Committee of the Board of Directors and the 25th Meeting of the Sixth Board of Directors, and still needs to be submitted to the 2025 Annual Shareholders Meeting for review. The company has formulated relevant risk control measures to prevent exchange rate fluctuations, transaction defaults and repayment forecast risks.
The company held the 25th meeting of the sixth board of directors on March 11, 2026, and reviewed and approved the "Proposal on the 2025 Incentive Fund Withdrawal Plan". According to the audit results of Tianjian Accounting Firm, the company's net profit after deducting non-recurring gains and losses attributable to shareholders of the listed company before the accrual of incentive funds in 2025 was 345,658,491.97 yuan. The audit opinion was a standard unqualified opinion and no administrative penalties were imposed, thus meeting the conditions for withdrawing the incentive fund. According to the "Incentive Fund Management Measures", the upper limit of incentive fund withdrawal in 2025 is 18.9083 million yuan. Considering the operating conditions and capital needs, the board of directors decided to actually withdraw 10.3996 million yuan. The incentive fund will be included in the current profit and loss in 2025, affecting the financial status of the year, but will not have a significant impact on subsequent years.
The company plans to provide a total guarantee line of no more than 2.6 billion yuan to its affiliated companies within the scope of consolidated statements to meet the funding needs for daily operations and business development. The guarantee amount can be adjusted among subordinate companies. The guarantee methods include guarantee, mortgage, pledge, etc., and the validity period is within 12 months from the date of review and approval by the shareholders' meeting. This matter still needs to be submitted to the company's shareholders' meeting for review. As of the announcement date, the total external guarantees provided by the company and its holding subsidiaries were 2.21 billion yuan, accounting for 94.22% of the latest audited net assets, and there were no overdue guarantees.
Key points of performance disclosure
Zhejiang Jiansheng Group Co., Ltd. will complete sales revenue of 2.589 billion yuan in 2025, a year-on-year increase of 0.59%; it will achieve a net profit of 405 million yuan, a year-on-year increase of 24.62%. After auditing, the company's financial report fairly reflects its operating results and financial status. Operating income was RMB 2,588,737,900, operating costs were RMB 1,807,067,000, net profit attributable to the parent was RMB 404,921,600, and net profit attributable to the parent after deducting non-compliance was RMB 334,877,700. Net cash flow from operating activities was 605.8304 million yuan, a year-on-year increase of 77.02%. The decrease in fixed assets was mainly due to the disposal of the assets of Jiangshan Knitting Company, and the increase in construction in progress was due to the investment in the Nam Dinh project in Vietnam. The company plans to review the final financial report.
The company will achieve operating income of 2,588,737,915.46 yuan in 2025, a year-on-year increase of 0.59%; the net profit attributable to shareholders of listed companies is 404,921,600.55 yuan, a year-on-year increase of 24.62%. The net cash flow generated from operating activities was 605,830,361.99 yuan, a year-on-year increase of 77.02%. The company plans to distribute a cash dividend of 0.35 yuan (including tax) per share to all shareholders, without converting capital reserves into share capital and giving out bonus shares. The company's main business is the production and manufacturing of knitted sportswear. Its main products are cotton socks and seamless clothing. Its business model is mainly ODM and OEM. The company is headquartered in Hangzhou and has production bases in many places in China and Vietnam. Its customers include international brands such as UNIQLO, PUMA, and DECATHLON.
The above content is compiled by Securities Star based on public information and generated by an AI algorithm (Network Information No. 310104345710301240019) and does not constitute investment advice.
According to news on March 10, 2026, in order to alleviate the pressure of childcare and cope with the continued low fertility rate, Jeju Island, South Korea, has officially launched a grandparent care subsidy policy, which will provide a monthly subsidy of approximately US$200 (approximately 1,400 yuan) to eligible grandparents. The project will be launched in March and has been approved by the local council. It is a childcare support measure launched based on the successful experience of Seoul.
Seoul will launch the "Grandchild Care Subsidy" as early as 2023, requiring grandparents or relatives to provide at least 40 hours of childcare services per month to receive a subsidy of 300,000 won (approximately US$204, approximately 1,430 yuan). A survey in February 2026 showed that the satisfaction rate for this policy was as high as 99.2%, and 99.5% of the respondents were willing to recommend others to apply. By the end of 2025, 5,466 people had enjoyed the subsidy. The policy is mainly aimed at families with children aged 2 to 3 years old. The family income does not exceed 150% of the national median. It gives priority to families with dual incomes, single parents, and multiple children and other families with childcare difficulties. Dual-income families can enjoy a 25% deduction when calculating the income.
As dual-income families increase and childcare costs rise, grandparents have become an important support for childcare in Korean families. Data show that among the caregivers participating in the project, 54% are maternal grandmothers, 36.4% are paternal grandmothers, and less than 10% are grandfathers. There are various reasons why parents choose grandparent care. 48% do not have enough trust in professional childcare personnel, 46.4% lack emergency childcare channels, and 45.6% find it difficult to arrange childcare on their own. Many parents said that they originally wanted to financially subsidize their parents, and government subsidies have effectively reduced the family burden.
The person in charge of the Seoul Women and Family Foundation said that the subsidy can not only relieve family financial pressure, but also allow children to gain emotional stability in family companionship and help them grow up healthily. This policy is part of the childcare support system launched by the Mayor of Seoul in 2023. It also includes services such as parental leave subsidies, emergency childcare, and municipal children's cafes.
Childcare costs in South Korea continue to rise. The current average monthly childcare expenditure reaches 1.116 million won (approximately 758 US dollars, approximately 5,300 yuan), exceeding the one million won mark for the first time. Driven by a number of policies, South Korea will have 254,500 births in 2025, a year-on-year increase of 6.8%. The total fertility rate has rebounded from 0.75 to 0.8, returning to the 0.8 range for the first time in four years. Officials believe that government fertility incentives have played a positive role.
From Seoul to Jeju Island, providing subsidies to grandparents who take care of their grandchildren is becoming a mainstream approach in South Korea's response to the population crisis. It not only respects the traditional care model of the family, but also uses practical support to reduce the burden on young parents and explore feasible ways to increase the willingness to have children.
On the evening of February 24th, Eastern Time, Trump delivered his first State of the Union address in Congress during his second term. In front of all members of Congress and a global audience, he announced in a high-profile manner that the United States had received more than 80 million barrels of oil from its "new friend" Venezuela. This statement is not surprising. After all, it was only two months since the US military raided Caracas and took control of former President Maduro, and the trend in Venezuela has already changed. No one could have imagined that this resource harvest would come so quickly. As soon as the oil was shipped away, gold would follow.
On March 4, U.S. Secretary of the Interior Burgham led a team straight to Caracas, accompanied by representatives of more than 20 U.S. mining companies. To put it bluntly, they came for Venezuela’s mineral resources. Rodriguez, the acting president of Venezuela, received him warmly throughout the whole process, with a smile on his face. He also publicly promised to advance legislation at "Trump-like speed" and completely liberalize the mining rights of gold, diamonds and rare earths, allowing American companies to enter smoothly. This kind of gesture seems conservative even if it is said to be a proactive show of goodwill. It is clearly using the country's core resources as a bargaining chip to please the United States.
Just two days later, on March 6, Venezuelan gold worth US$100 million was successfully shipped to the United States. Burgum later publicly confirmed the news and specifically emphasized that the gold would be used for American industry and commercial purposes, making no attempt to conceal his plundering intentions. Even more blatantly, Burgum directly revealed in the interview that the total value of gold resources in Venezuela is as high as 500 billion U.S. dollars, as well as key minerals such as bauxite, and even involves China, claiming that controlling these resources can help the United States gain an advantage in the artificial intelligence arms race with China. This sounds ridiculous, but it is essentially a high-sounding excuse for plundering resources.
Many people wonder, does this series of operations in Venezuela mean that it has completely moved towards the United States? The answer actually lies in these details, we might as well dismantle them slowly. Let’s first look at the situation of the Rodriguez government. Maduro is still illegally controlled by the United States. The domestic economy has long collapsed, people’s livelihood is in decline, and social conflicts are so acute that they are difficult to reconcile. In this desperate situation, Rodriguez's compromise is more like a forced choice, trading resources for survival and sovereignty for breathing space, but this kind of compromise has always been a bottomless pit.
Trump has transported 80 million barrels of oil, worth more than $6 billion based on current oil prices. However, less than one-third of the funds actually received in Venezuela’s official account have been withheld by the United States in the name of “supervision” and “reconstruction.” Now that US$100 million in gold has been shipped away again, the United States will inevitably focus on those priceless rare earths and diamonds. This step-by-step plunder will only hollow out Venezuela's wealth little by little, making this once resource-rich country completely lose the possibility of independent development. The so-called "economic buffer" is nothing more than a pie created by the United States for the puppet government. Rodriguez seems to have stabilized the situation, but in fact he has pushed the country into a deeper abyss.
Looking at the United States' calculations, this is not a simple resource transaction at all, but a substantial advancement of the "Trump version of the Monroe Doctrine," which can be said to kill two birds with one stone. Burgum himself admitted that there has been more progress between the United States and Venezuela in the past two months than in the past 20 years, and he cannot hide the pride in his words. Venezuela has the world's largest proven oil reserves, as well as huge amounts of gold and key minerals. With these resources in hand, the United States' energy security and supply chain resilience can be further guaranteed, and it will have more leverage in its strategic competition with China.
More importantly, American companies can seize the opportunity to enter Venezuela in a large scale, and pocket the profits of the entire industrial chain, from resource extraction to refining and processing. The more than 20 mining companies accompanying Bergham have been waiting for a piece of the pie. In terms of geopolitics, the United States has set a benchmark for the entire Latin American region. Those who follow it will prosper, and those who go against it will perish. Controlling Venezuela, a treasure house of resources, is equivalent to further consolidating its absolute dominance in the "backyard." Other Latin American countries will inevitably feel wary when they see this.
The most ironic thing is that on March 5, the United States and Venezuela simultaneously officially announced the restoration of diplomatic and consular relations, and this day happened to be the anniversary of the death of former Venezuelan President Hugo Chavez. In its statement, the Rodriguez administration also talked about "mutual respect and sovereign equality." However, with the former president controlled by the United States on one side and resources constantly being shipped to the United States on the other, this so-called "equality" was just a decent rhetoric after surrender, and even self-deception seemed reluctant. The reason why Trump praised Rodriguez on social media and even deliberately omitted the word "acting" in "acting president" and regarded her as the official president of Venezuela is that he is extremely satisfied with the performance of this puppet government.
There is another detail that deserves vigilance. Venezuelan Foreign Minister Ivan Gil previously issued a statement on the Iran war. He did not condemn the U.S. and Israeli bombings in a single sentence. Instead, he accused Iran of military retaliation that should be condemned. This statement is in sharp contrast to the Maduro government's firm support for Iran last year. Even though it later deleted the statement due to pressure, Venezuela has never publicly opposed the US-Israeli attack on Iran, nor has it made any statement on the death of Khamenei. This ambiguous stance is undoubtedly submitting a petition to the United States and completely abandoning its former allies.
Some people say that Venezuela is forced to do nothing, but no matter how helpless it is, it should not be at the expense of national sovereignty. Comparing Iran, which is also targeted by the United States, we can see the gap clearly. Even if Iran faced joint bombing by the United States and Israel, and even if its supreme leader was attacked, it would still endure to the end. With its geographical advantages in the Strait of Hormuz and domestic unity, it could stand firm in the cracks of sanctions and war. However, Venezuela chose to compromise and surrender, and what it gained in exchange was not stability, but systematic plunder, and the country's destiny was completely controlled by the United States.
In the final analysis, there is no need for unnecessary speculation as to whether Venezuela has completely moved towards the United States. 80 million barrels of oil, $100 million in gold, and rare earths and diamonds that will soon be controlled by American companies are the most direct evidence. The reason why the Trump administration is eager to withdraw from the Iran war is that it finds that resources in Latin America are easier to plunder, and Venezuela's compromise gives the United States an opportunity to take advantage of it.
This unarmed plunder has not only cost Venezuela a heavy price, but has also sounded a wake-up call to all developing countries. The "rules-based order" that the United States calls is essentially the hegemonic logic of the jungle and the strong. The so-called "new friends" are nothing but puppets it uses to plunder resources. Venezuela’s experience tells us that national sovereignty can never be traded. Once compromised, it will only be pushed further and everything will be lost. Now that the gold and oil have been shipped away, Venezuela's future is uncertain, and the United States' hegemonic plunder may continue to be staged in Latin America.
As of the close on March 12, 2026, ST Nachuan (300198) closed at 2.58 yuan, down 1.15%, with a turnover rate of 1.49%, a trading volume of 152,800 hands, and a transaction volume of 39.2907 million yuan.
Focus of the day
Transaction information summary fund flow
On March 12, the net outflow of main funds was 3.867 million yuan; the net outflow of hot money was 821,300 yuan; the net inflow of retail funds was 4.6882 million yuan.
Summary of company announcements Announcement on signing a restructuring investment agreement with financial investors
Fujian Nachuan Pipe Technology Co., Ltd. signed a "Reorganization Investment Agreement" with 13 financial investors on March 11, 2026, involving a total subscription of 194,532,706 shares, a total investment of approximately 278 million yuan, and a price of 1.29 yuan per share. Investors include Beijing Tongchuan Xuanyun, China Foreign Economic and Trade Trust, etc., and the funding sources are all self-owned funds. The agreement stipulates that the financial investor must pay a 15% performance bond within three working days after the agreement takes effect, and the reorganization investment will be paid after the court rules and approves the reorganization plan. The signing of this agreement will help promote the company's pre-reorganization process, but there is still significant uncertainty as to whether the company will enter the reorganization process.
Announcement on the signing of a restructuring investment agreement with industrial investors and the concerted actions of industrial investors
Fujian Nachuan Pipe Technology Co., Ltd. signed a "Reorganization Investment Agreement" with industrial investors on March 11, 2026, identifying Quanzhou Innovation Investment Development Partnership (Limited Partnership), Xiamen Zhongjing Huiyao Investment Partnership (Limited Partnership), Quanzhou Quangang District Industrial Equity Investment Fund Co., Ltd., etc. as reorganization investors. Industrial investors will subscribe for converted shares at a price of 1.29 yuan per share, with a total investment amount of approximately 358 million yuan. Quanfa Consortium needs to complete its capital reserve increase obligation before March 31, 2026. Quanzhou Innovation Investment Development Partnership (Limited Partnership) signed a concerted action agreement with Quanzhou Quangang District Industrial Equity Investment Fund Co., Ltd. to form a concerted action relationship. At present, the company has not received the legal documents from the court to formally accept the reorganization, and there is uncertainty as to whether it will enter the reorganization process.
The above content is compiled by Securities Star based on public information and generated by an AI algorithm (Network Information No. 310104345710301240019) and does not constitute investment advice.
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