Today’s beginning of spring | Fu Yang protects the liver, and everything is reborn! Beginning of spring health customs raiders, worth collecting ~

Beginning of spring today.

Beginning of spring, standing is to see, spring is stupid, which means that plants are beginning to come alive.

"twenty-four solar term" said: "The first month festival, the establishment, the beginning is also the same as autumn and winter in long summer." That is to say, it means that winter is coming to an end, symbolizing the beginning of spring. It can be said that "there is little frost at the end of the year, and spring is known to the world."

After beginning of spring, the weather turned warmer, everything revived, and everything was full of vitality.

In the spring, it is not too late to compete for the sun.

When keeping in good health, stay healthy for one year and get sick less!

Beginning of spring custom

Beginning of spring is one of the important traditional festivals of the Han people. On this day, there will be many folk customs and activities.

1. Spring Festival

Spring Festival is an important activity in beginning of spring, and preparations must be made in advance and previewed, commonly known as spring performance. Then, we can officially welcome the spring, with the purpose of bringing back the spring and the sentence (G not u).

2. ancestor worship

In many areas, beginning of spring offered sacrifices to his ancestors. For example, Guangdong’s "Xin’ an County Records" contains: "The people have something to do with the ancestral temple."

The food offered to ancestors in beginning of spring was also special. Henan’s Ruyang County Records says: "Have a spring banquet, spit spring cakes, recommend divination and pears."

3. Bite spring

Beginning of spring also has its own food, mainly spring cakes, radishes, five-spice plates (mixed with five spicy foods such as onion, garlic, pepper, ginger and mustard), etc. Spring rolls are popular in the south.

Eating spring rolls pays attention to wrapping the dishes and eating them from beginning to end, which is called "having a head and a tail" and means auspicious.

4. spring outing

After beginning of spring, people like to go out for a spring outing in the spring, which is also the main form of spring outing.

5, playing spring

Playing spring, also known as "whipping the spring ox", originated earlier and prevailed in the Tang and Song Dynasties, especially after Song Renzong promulgated "Tu Niu Jing", the custom of whipping the local ox spread more widely.

People want to break the local cattle, and people compete for the soil of spring cattle, which is called grabbing the spring and taking the cow’s head as luck.

Beginning of spring Sanhou

Beginning of spring is a time point or a time period. China tradition divides beginning of spring’s fifteen days into three periods:

When the east wind thaws.

On the day of beginning of spring, the east wind warmed up and the earth began to thaw;

Second-time sting insect begins to vibrate.

Five days after beginning of spring,

The dormant insects slowly wake up in the cave;

Three-time fish are frozen

In five days, the ice in the river began to melt.

The fish began to swim on the water,

There are still broken borneol that is not completely dissolved on the water.

Floating on the water like a fish.

Beginning of spring health guide

After beginning of spring, the yin cold in winter has not dissipated, and there will be natural phenomena such as late spring cold; At this time, from winter to spring, people’s ability to resist diseases and adapt to the climate is extremely weak, and they are prone to illness.

Therefore, beginning of spring’s health care becomes particularly important, and only by grasping the key points can we get twice the result with half the effort.

Give priority to nourishing liver

According to the nature, the five elements in spring belong to wood, corresponding to the liver. Chinese medicine believes that the liver governs emotions and "anger hurts the liver". Beginning of spring’s health care should focus on regulating emotions, nourishing and protecting the liver, and preventing "hyperactivity of liver fire".

Maintain a happy mood and avoid rage or depression; Through proper outdoor activities, more sunshine and other methods to recuperate emotions, the qi of spring yang can be declared, so as to achieve the purpose of normal operation of human viscera function.

Beginning of spring should pay attention to drinking plenty of water when nourishing the liver. Drinking plenty of water can also promote the secretion of glands, especially digestive glands, pancreatic juice and bile, so as to facilitate digestion, absorption and waste elimination, and reduce the damage of metabolites and toxins to the liver.

In terms of diet nursing, considering the characteristics of protecting the liver and promoting the growth of yang in spring, we should eat more pungent and sweet foods, such as rape, coriander, leek, onion, white radish, chrysanthemum, kohlrabi, Chinese cabbage, celery, spinach and other vegetables.

Beginning of spring nourishing liver and dietotherapy: For people with liver stagnation and qi stagnation, focus on soothing the liver. You can use 10 grams of dried albizzia flowers, 20 grams of fresh products, 150 grams of fresh pig liver, a little salt and soup to drink; Patients with liver disease, such as patients with liver cirrhosis and hepatitis B, should maintain a happy mood, and can adopt dietotherapy to soothe the liver and strengthen the spleen, such as chicken bone grass and crucian carp soup, and avoid fried, hot, fat and indigestible foods.

Pay attention to keep warm and should be "covered in spring"

Chinese medicine believes that spring belongs to wood and corresponds to liver. Therefore, beginning of spring’s health preservation is mainly based on nourishing the liver, and the theory of traditional Chinese medicine holds that "the liver governs emotions" and "anger hurts the liver".

Therefore, the key to nourishing the liver is to keep a good mood and avoid rage or depression. You can recuperate your mood by going out and sunbathing more, so that the qi of spring yang can be declared, so as to achieve the purpose of normal operation of human viscera function.

Proper exercise helps yang qi.

In spring, when the nature is "old", the yang is rising, and everything is sprouting. Just like nature, human qi and blood need to be stretched freely, which requires people to "stay up late and get up early, and be happy with the day". They can take appropriate outdoor sports at the right time of sunshine, breathe fresh air and exercise their bones and muscles. Through proper adjustment, the qi of spring yang can be announced, the metabolic function can operate normally, and the cardiopulmonary function and the human body can be improved. But be careful not to exercise too early or too late, and not to sweat to avoid hurting the yang.

Diet should be sweet and sour.

On Su Wen’s Method of Storing Qi: "The liver governs the spring, … the liver is bitter and anxious, and it is slow to eat urgently, … the liver wants to disperse, and the acute food is pungent to disperse."

After beginning of spring, you can choose some foods that nourish and soften the liver, soothe the liver and regulate qi, such as leek, lobster sauce and coriander. Sweet foods such as jujube and honey water can also be appropriately added, which is beneficial to tonify the spleen and avoid damaging the spleen due to hyperactivity of the liver.

We should pay attention to eating less sour food to prevent excessive liver qi, and the physical properties of the food we eat should be cold. We should use or fast hot food with caution, so as to avoid the occurrence of warm diseases caused by diet promoting internal heat. Drink plenty of water on weekdays, and make tea with chrysanthemum and honeysuckle to clear away heat and dispel wind.

Open the window to breathe and prevent epidemic

After beginning of spring, the weather changed from cold to warm, everything began to recover, and all kinds of pathogenic bacteria and viruses began to grow and reproduce, which was a season with frequent epidemics. As the old saying goes, "A hundred herbs sprout, and an old disease sprouts." In terms of preventive measures, we must first eliminate the source of infection; Second, it is necessary to properly open the door and open the window for ventilation to ensure fresh indoor air circulation, which can also play the role of indoor dust removal and ventilation and reduce the survival of indoor bacteria; The third is to strengthen exercise and improve the body’s defense ability; In addition, wash your hands frequently every day, and pay attention to wearing masks in crowded places.

Original title: "Today’s beginning of spring | Fuyang protects the liver, and everything is reborn! Beginning of spring health customs raiders, worth collecting ~ "

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On New Year’s Eve, it has been a custom for many years for the whole family to get together, pack jiaozi and watch the Spring Festival Gala.

Festival gala has a history of thousands of years. People in China regard the Spring Festival as a time for family reunion, so every year during the Spring Festival, a sumptuous meal is prepared, and the whole family gets together, laughing and having fun. On this family reunion day, our parents and elders will prepare a sumptuous dinner for us, which is not only a traditional custom, but also an emotional sustenance.

Besides, there are many customs during the Spring Festival, such as posting Spring Festival couplets, setting off firecrackers, celebrating the New Year and celebrating birthdays. Wine plays an important role in China people’s daily life, and it is indispensable for friends’ gatherings and business occasions. Drinking can not only enhance feelings, but also add atmosphere. There are many kinds of liquor in China, including strong liquor, low-alcohol liquor and low-alcohol liquor. Among them, precious wineThe taste of the wrong gold is the best and is deeply loved by people.

Zhenjiu Cuojin Liquor-free is a kind of pure grain-brewed liquor with low alcohol content, mellow taste and long aftertaste. The brewing technology of Zhenjiu Cuojin Liquor-free is very unique. Traditional solid-state fermentation method is adopted, without adding any spices, and the nutritional components of rice are retained. The brewed wine aroma is rich, sweet and refreshing, and has a long aftertaste.

Zhenjiu Cuojin Free Liquor is a rare good wine, which is worth having. Zhen Jiu CuO Jin Mian is one of the famous wines in China. Good wine and delicious food make people feel relaxed and happy. On New Year’s Eve, it is a custom in China for thousands of years to wrap a pot of hot jiaozi, which makes us feel a quiet and warm atmosphere.

The Spring Festival in China is the biggest festival in our country. On this day, every family should prepare a sumptuous New Year’s Eve dinner, with all kinds of fish, shrimp and fish, which is a festive atmosphere. At this time, China people also have a grand festival-drinking. As the saying goes, you can’t be happy without wine.

In the daily life of China people, it is not only a spiritual heritage, but also a spiritual heritage. Choosing a good wine can better show friendship. As one of the famous wines in China, Zhenjiu Cuojinmong has become a special wine for the court as early as the Qing Dynasty. Therefore, nothing can drink such a mellow and memorable wine during the Spring Festival.

On this day’s reunion night, every family will celebrate the New Year. Everyone will get together, set off firecrackers and fireworks, and the whole family will get together happily. On this day, in addition to welcoming the old and welcoming the new, we bathe, burn incense and worship our ancestors, and prepare the New Year’s Eve dinner. When the Chinese New Year comes, the whole family will get together and enjoy a New Year’s Eve dinner together. On this day, people will put on new clothes, dress up beautifully, visit relatives and friends, pay New Year greetings to each other and wish the New Year good luck. People who work outside the home will also go back to their hometown to reunite with their families and have a big New Year’s Eve dinner.

New Year’s Eve dinner is the most important meal for China people, not only a New Year’s Eve dinner, but also a custom of China people for thousands of years. Besides eating, you can also enjoy delicious food and wine. This year has been really good. And this precious wine is a kind of gold-free, with mellow taste and long aftertaste, which is not only a good product for the Spring Festival, but also a good product for gifts. In the traditional customs of China, good wine can convey love and happiness forever. Wine is a bridge for people to communicate their feelings. Wine culture is a major feature of the Chinese nation and an important part of China culture.

#2023 Year of the Rabbit Zodiac Wine #
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Summary and commendation of "Singing the Motherland, One Song, One City" and IPTV publicity exchange meeting were held in Chengdu.

  Cctv news On the afternoon of October 14th, a large-scale all-media activity "Singing the Motherland, One Song, One City" and an IPTV publicity exchange meeting jointly sponsored by the State Administration of Radio and Television and the Central Radio and Television Station were held in Chengdu. Wei Dangjun, Director of the Network Department of the State Administration of Radio and Television, Chung Chi Li, Deputy Director of the Network Department of the State Administration of Radio and Television, Zheng Zhi, Deputy Convenor of the General Manager’s Office of the Central Radio and Television General Station, and representatives of China IPTV main distribution platform and telecom operators attended the forum. At the meeting, IPTV industry reports were released and in-depth exchanges were conducted on IPTV publicity.

  Adhere to multi-party efforts to consolidate the mainstream public opinion position of IPTV

  In his speech, Wei Dangjun, director of the Network Department of the State Administration of Radio and Television, fully affirmed the construction and development of IPTV and its important role in propaganda work. He pointed out that IPTV has now become an important platform for propaganda and ideological culture and an ideological position, playing an increasingly important role in spreading the voice of the party, promoting mainstream values, and giving play to the guiding role of public opinion.

  He said that to promote the healthy and orderly development of IPTV industry, we must adhere to the following points: First, to effectively improve our political position, we must take a clear-cut stand on politics. Guided by Socialism with Chinese characteristics Thought in the new era, we should strengthen the four consciousnesses, strengthen the four self-confidences, consciously undertake the mission of raising flags, gathering people’s hearts, educating new people, promoting culture and developing image, sing the main theme, spread positive energy, and make the party’s voice spread wider, wider and deeper, which is the fundamental follow-up and guiding ideology of IPTV work. The second is to innovate the way of public opinion guidance. New technology promotes the rapid development of information dissemination mode and constant reform and innovation, and the people’s cultural level and ideological taste are also constantly improving, which requires continuous innovation of public opinion guidance mode, improvement of publicity and marketing level, maximization of publicity effect, and improvement of cultural products, which should be practical and meet people’s needs. Third, it is necessary to further standardize management, adhere to safety as the most important, manage and control, and improve the ability to check. In the key links such as the entry of program sources, the standard management level should be improved to ensure the content security, transmission security and broadcast security of IPTV.

  Strengthen brand building and enrich content resources by multiple measures.

  Zheng Zhi, deputy convener of the General Manager’s Office of the Central Radio and Television General Station, pointed out in his speech that IPTV is not only a communication platform, but also a platform with strong IP creation ability. In the process of building the industry ecology in the future, relying on the high-quality resources of the General Station and the provincial stations, the general station platform can make good use of the successful experience of the "Song City" project, give full play to their respective advantages, dig deep into the production of original content, and create more programs that people like and strengthen the IPTV industry.

  First, the general platform will continuously enrich and expand the content resources of IPTV in TV series, variety shows, documentaries and sports events, and further enhance the people’s sense of acquisition and happiness with high-quality and high-quality cultural supply.

  Second, we will further give full play to the obvious advantages of the general platform in news and public opinion topic reporting, constantly consolidate the construction of the main line of IPTV theme propaganda, strengthen the means of communication and discourse, and strive to make IPTV the main force, main channel and main position of the party’s news and public opinion work, and make greater contributions to consolidating and expanding the party’s ideological and political work.

  Third, combined with the general platform, it has accumulated experience in the strategic implementation of 5G+4K/8K+AI, and will provide more technical support for the development of IPTV smart media ecological construction in the future.

  Focus on the difficulties and pain points of the industry and discuss the solutions in depth.

  Where is the IPTV propaganda work going? How to adapt to the development needs of the new era, in the guest dialogue session, more than a dozen industry guests conducted in-depth exchanges and discussions on three topics, namely, "Keeping Honesty: Integrated Development of Network and Network", "Cohesion: Characteristic Operation and Integrated Development" and "Win-win Cooperation of IPTV in New Industry Ecology".

  Dai Zhuo, deputy general manager of Hubei Changjiang Yunxin Media Group Co., Ltd. believes that the boundaries of many channels will gradually weaken whether it is IPTV or future technological development. What we need to do is to cut into this vertical field of localization as soon as possible and consolidate the functions of our own platform.

  Qi Ruofan, director of operations of Beijing New Media Group Co., Ltd. also believes that IPTV should not compete with Internet giants with pan-entertainment content, but should give full play to its own advantages, including local information capabilities, social service capabilities, community service capabilities and government service capabilities, and use products to retain users, attract users and satisfy users.

  In terms of exploring the potential of IPTV, Zhang Xiaogang, general manager of Haikan Network Technology (Shandong) Co., Ltd., revealed that they are trying the "Thousands of Villages and Thousands of Houses" project, that is, extending IPTV services to the countryside, because there is a lot of information in the countryside that needs to be displayed through channels and platforms, such as agricultural products and tourism. After this attempt, the number of their users has actually increased during the epidemic.

  Zhai Yingbin, chairman of Anhui Dolphin New Media Industry Development Co., Ltd. believes that no matter how it develops in the future, we must first maintain and consolidate the big-screen position, and then consider how to enrich the content and production mode, which needs to be considered.

  5G is both an opportunity and a challenge. With high bandwidth and low delay, 5G has broken away from the limitation of cable and bandwidth for video production, and has also broken away from the original bondage in video production and video interaction. Wang Minjuan, general manager of the Big Video Division of Tianyi Smart Home Technology Co., Ltd. believes that this year’s live broadcast of Raytheon Mountain and Vulcan Mountain and even the live broadcast of Sansha turtle eggs are all new attempts, and the IPTV platform should also be changed. She believes that 5G is full of imagination for IPTV platform, and it is necessary to continue to innovate, expand more cooperation and serve users on the platform.

  Dong Dawu, deputy general manager of China Unicom Video Company, also believes that 5G will bring many changes to video production. How to seize this opportunity for IPTV platform is something we need to think about. For example, operators need to consider how to give full play to the platform attributes and expand business development for government and enterprise customers.

  As the mainstream media communication position in China, IPTV will also undertake the new mission and journey of media integration and industrial innovation in the future.

  Participants generally agreed that according to the past development experience and future development trend, development still needs content to be king and content to be supreme, while innovating communication methods to retain users. In the future development, it is even more necessary to give play to the advantages and specialties of IPTV and activate its potential value.

award ceremony

award ceremony

  At the event site, Fang Min, deputy general manager of CCTV Market Research Media Convergence, released the IPTV industry report. According to the report, by the end of August 2020, IPTV users had exceeded 307 million, making it the largest TV transmission channel in China. User satisfaction and trust are more than 90%, and the main reasons for IPTV to attract users are the choice of functions and high cost performance. Users are sticky, and the viewing increment is huge in the afternoon and evening; Users are willing to pay to watch the popular content, and the content consumption potential is great.

  In addition, the organizers commended the outstanding teams and individuals of the project "Singing the Motherland, One Song, One City". It is reported that at the 8th China Network Audiovisual Conference, the list of outstanding works in the 2019 Excellent Network Audiovisual Works Selection Campaign organized by the State Administration of Radio and Television was officially announced, and the large-scale all-media activity "Singing the Motherland, One Song, One City" jointly implemented by CCTV and IPTV General Station was selected as the annual special event.

Congratulations to the Super League! The two giants confirmed their continued investment and shattered the rumors of dissolution! The Football Association can rest assured.


The financial difficulties of China Football Super League have always been a topic of great concern. In recent years, the Super League has been hit by a serious economic crisis, which has led to the situation that some clubs have to be dissolved. This situation once triggered people’s concerns about the future development of the Super League.

However, in the latest news, two established clubs, Shanghai Harbour and Beijing Guoan, gave a positive reply, saying that they will continue to invest money for the team and guarantee to participate in next season’s competition. This is undoubtedly an exciting news, but also let the China Football Association breathe a sigh of relief.

As China football clubs with a long history and great reputation, Shanghai Port and Guoan have been reported to be unstable in operation and possibly even dissolved in the past few years. This series of rumors has further weakened people’s problems about the sustainable development of the Chinese Super League.

However, it seems that Shanghai and Guoan have not given up their responsibilities. According to relevant reports, the parent companies behind the two clubs have made it clear that they will continue to invest and support the team’s operation. This decision not only shows the courage and confidence of the two giant clubs, but also adds a touch of bright color to the future of the Chinese Super League.


In addition, it is worth mentioning that Zhonghe, the parent company of Beijing Guoan Club. Although the company faces a huge deficit, it has no intention of quitting the club. This shows that China and China have a deep understanding of football and its influence, and are willing to shoulder their responsibilities in it. Similarly, no organization has proposed the intention of transferring Guoan Club.


Of course, in today’s economic situation, many enterprises are under pressure and challenges, and the football industry is no exception. Compared with the past, Shanghai and Zhonghe may invest less in the club. However, this can’t hide their contributions in supporting the development of strong teams and ensuring the treatment of players.


In fact, with the joint efforts of China Football Association and other relevant stakeholders, in recent years, Super League has taken a series of measures to solve the financial difficulties and gradually promote the professional development. For example, increase marketing efforts and introduce more business partners. These measures have provided more development opportunities for the Super League and injected new vitality into the club.


Generally speaking, although the Chinese Super League has experienced some financial difficulties and dissolution rumors in recent years, the decisions of Shanghai and Guoan once again prove that the giant clubs have deep feelings and responsibilities for China football. They will continue to invest and guarantee to participate in next season’s competition, which brings infinite expectations to people. Similarly, with the joint efforts of all parties, I believe that the Chinese Super League can overcome difficulties, develop continuously and make greater achievements.


Extended topic: In addition to the economic problems faced by the Super League, there are a series of issues related to football in China that deserve our attention. The first is the construction of youth training system. How to cultivate more outstanding young players is one of the long-standing problems in China football. Only through a sound and efficient youth training system can we ensure the future worship strength of China football.


Secondly, the adjustment of foreign aid introduction policy. In recent years, it has played an important role in introducing overseas top stars to improve the level of domestic professional leagues. But equally, whether the restrictions on the amount and salary of foreign aid are reasonable has always been a controversial topic. What kind of policies should be adopted to balance the competitive relationship between domestic players and foreign aid, which can not only improve the level of the league, but also do no harm to the development of local players.


To sum up, there is still great potential to be tapped in the development of China football market. In recent years, top European clubs have marched into China, and made active attempts in business operation and brand promotion. How to further expand the scale of the football industry and increase the profit model has also become an important proposition.


Generally speaking, in the context of solving the financial difficulties, the continued investment of super league giants has brought hope to people. However, in addition, China football still needs to be reformed and innovated from many levels. Only by developing and expanding in all aspects can we realize the historical mission that the "green field" should shoulder in the great cause of Chinese national rejuvenation.


Youth training system construction: China football has been seeking to improve its international competitiveness, and a sound youth training system is indispensable. China football needs to invest more resources to train young players and provide them with high-quality training and competition opportunities to ensure that more local stars will emerge in the future. This may require improving infrastructure, hiring more professional coaches, and cooperating with schools to train football teenagers.


Adjustment of foreign aid introduction policy: foreign aid has played a key role in improving the level of the league, but it has also caused some controversy. China Football Association needs to carefully weigh the amount and salary of foreign aid to ensure that domestic players have enough opportunities to participate in the competition and promote the growth of local players. This may require more attractive policies to attract international stars to play in China and encourage clubs to train more local young players.


Football market development: China football market has great potential, but it needs further development. More and more international football clubs have realized the value of China market, but China football can also expand the scale of football industry in various ways, including developing football tourism, promoting football education and providing more entertainment activities. This will help to improve the popularity and attractiveness of the Super League.


Cooperation and win-win: The problem of football in China needs the cooperation of all parties. Government, Football Association, clubs, fans and enterprises can all play a role in promoting the development of football in China. Partnership, investment and common vision will help solve financial problems and other challenges.


To sum up, China football faces a series of challenges, but it also has great opportunities. The commitment of the super league clubs has brought a glimmer of light to China football, but to achieve sustained success, we need to carry out reforms and innovations in many aspects, including youth training, foreign aid policies, market development and the establishment of cooperative partnerships. Only through all-round efforts can China football realize its ambition and realize the historical mission of football in the great cause of Chinese national rejuvenation.


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Look at beauty cosmetics from the inside, from ancient times to the present, through time and space.

Beauty products have both efficacy and spiritual consumption attributes, and the triple values of time, research and development and scale support the valuation premium of international beauty leading groups. The history of China’s beauty industry is still short, and it is in the stage of gaining momentum from marketing/channel-driven to R&D-driven, improving comprehensive strength and transforming into a real consumer brand, with a broad market and rich opportunities; The multi-brand and collectivization trend of local high-quality beauty cosmetics leaders has begun to appear, and the growth supports high valuation.

▍ The valuation premium of the beauty industry is due to the value of spirit and efficacy, and the triple value of time, technology and scale breeds the valuation premium.

The historical P/E center range of the international beauty industry leader is 20x-35x, which generally enjoys a valuation premium compared with its index. The P/E multiple generally exceeds 1.4, and the P/S multiple generally exceeds 1.3. We believe that the valuation premium enjoyed by international beauty leaders is due to:

1) The value of time: the precipitation of time creates brand value. International beauty leading companies have a long history of more than 70 years, and their brands are well-known, rich in connotation and enjoy a premium.

2) The value of science and technology: The international beauty leading group has invested heavily in basic research (skin texture/raw materials, etc.), applied research, safety testing and other aspects for a long time to build tangible technical barriers and intangible consumer trust barriers.

3) Value of scale: collectivization exerts brand synergy, globalization captures dividends in various markets, leading the scale and stabilizing the position of the industry.

▍ China’s beauty industry enjoys a valuation premium, with a broad market and abundant opportunities.

The valuation premium of China’s beauty industry has existed for a long time, with the P/E multiple center of 2.3 and the P/S multiple center of 3.1. Main reasons:

1) Early stage of development: low permeability and leading growth rate. In terms of penetration rate, the per capita consumption of beauty care in China is only about 403 yuan, far lower than that in Europe, America, Japan and South Korea. In terms of growth rate, CAGR+10.1%% in China’s beauty care market from 2008 to 2021 is higher than CAGR+2.6%% in the world.

2) Continuous iteration, full of vitality, driven by channel to technology/R&D.. China’s beauty industry has a fast iteration: consumers are becoming more rational, supervision is becoming stricter, channels are more dispersed, traffic costs are constantly high, and marketing focuses on value recognition.

▍ China’s beauty industry has a short history and is full of vitality.

The development of local beauty listed companies started relatively late, and most of their brands were launched after 2000. The market concentration of beauty personal care in China is still low. In 2021, the proportion of CR3/5 is 26.8%/33.5% and there are no local companies in CR5, which is lower than that in Europe, America, Japan and South Korea. There is still room for improvement in the market share of high-quality local leading companies. At present, the industry is poised for stage adjustment, from channel and marketing-driven to technology-driven, and companies with strong comprehensive capabilities are expected to further increase their market share.

▍ The pattern is scattered, high-quality leading players enjoy industry growth and share increase, and leading players in sub-sectors rise.

▍ Risk factors:

Overseas historical development is not fully applicable to China beauty listed companies; The weak consumption of optional consumption, especially in the field of beauty, affects the company’s performance: the industry updates quickly, and the company, brand or product may have a certain life cycle; Industry competition or intensification, affecting the company’s performance; The sales volume of new products may not meet expectations, and the construction of brand matrix still has a long way to go.

▍ Investment strategy:

After the valuation adjustment since the second half of 2021, the PE of the leading A-share beauty companies in 2023 is concentrated in 45x~55x, which has fully reflected the factors such as the slowdown of industry growth, the ready research and development, and the shift of driving force. In short, in 2023, with the gradual recovery of consumption, the efficiency improvement of various companies’ operations/the promotion of large single product strategy/the listing of new products, there is still room for improvement in the valuation of leading companies; From 2023 to 2025, with the improvement of R&D and comprehensive strength of local brands, as well as the improvement of consumers’ recognition of local brands, the beauty industry is expected to change from marketing-driven and channel-driven to R&D-driven, and high-quality bibcock is expected to become a real consumer brand with both product power/marketing power/channel power, thus maintaining a high valuation.

This article comes from a selection of brokerage research reports.

Infrastructure for training AI to solve common problems

In order to train artificial intelligence models that can solve common problems, infrastructure is needed to provide support. These infrastructures are usually composed of hardware, software and tools to improve the efficiency and accuracy of model training. This article will introduce the infrastructure for training AI to solve common problems.

I. Hardware infrastructure

When training artificial intelligence models, it is usually necessary to use high-performance computing hardware to provide support. The following are several common hardware infrastructures:

  1. CPU: The central processing unit (CPU) is a general-purpose computing hardware, which can be used to run various types of software, including artificial intelligence models. Although the performance of CPU is relatively low, it is still useful in training small models or debugging.

  2. GPU: A graphics processor is a special computing hardware, which is usually used to process images and videos. Because of its highly parallel structure, GPU can provide higher computing performance than CPU when training artificial intelligence models, so it is widely used.

  3. TPU: Tensor processor is a kind of hardware specially used for artificial intelligence computing, developed by Google. The performance of TPU is higher than that of GPU, and it is suitable for large-scale artificial intelligence model training and reasoning.

Second, the software infrastructure

In addition to hardware infrastructure, some software tools are needed to support the training of artificial intelligence model. The following are some common software infrastructures:

  1. Operating system: Artificial intelligence models usually need to run on an operating system, such as Linux, Windows or macOS.

  2. Development environment: Development environment usually includes programming language, editor and integrated development environment (IDE) for writing and testing artificial intelligence models. Common development environments include Python, TensorFlow, PyTorch and Jupyter Notebook.

  3. Frames and libraries: Frames and libraries provide some common artificial intelligence model algorithms and data processing tools, making model development and training more convenient. Common frameworks and libraries include TensorFlow, PyTorch, Keras and Scikit-Learn.

Third, the tool infrastructure

In addition to the hardware and software infrastructure, some tools are needed to support the training of artificial intelligence models. The following are several common tool infrastructures:

Dataset tool: Dataset tool is used to process and prepare training datasets, such as data cleaning, preprocessing, format conversion, etc. Common data set tools include Pandas, NumPy and SciPy.

2 Visualization tools: Visualization tools are used to visualize the training process and results to help users better understand the performance and behavior of the model. Common visualization tools include Matplotlib, Seaborn and Plotly.

Automatic parameter tuning tool: The automatic parameter tuning tool is used to optimize the parameters of the model to improve the performance and accuracy of the model. Common automatic parameter tuning tools include Optuna, Hyperopt and GridSearchCV.

In short, training artificial intelligence models to solve common problems requires the use of a variety of infrastructures, including hardware, software and tools. These infrastructures are designed to improve the efficiency and accuracy of model training, so that the model can better solve various practical problems. In practical application, users need to choose the appropriate infrastructure according to specific requirements and data characteristics, and design and implement it accordingly.