collective price increase

Finance–What is the reason for the collective price increase of low-end liquor?

Every summer, it is the off-season of white wine. At this time of the year, many liquor companies began to crouch and look forward to making a difference after entering the fall.

However, in the summer of this year, the liquor market has been somewhat instigated. Both the famous wines and the regional wines have started the price adjustment model.

Low-end liquor brands have raised prices

Recently, Jiugui Liquor (000799) issued a notice to the national channel dealers. Since July 15, 2018, the 52-degree highly soft red altar and the purple altar alcoholic spirits have increased the ex-factory price by 22 yuan and 20 yuan respectively. .

prior to this, there have been a number of wine companies to raise prices.

On June 1, 2018, Henan Yangshao Marketing Co., Ltd. issued a price adjustment notice, starting from 0:00 on June 11th, raising prices for some of its products: painted pottery and National Edition, people and Zhengzhou Edition, Renzhiyun 2018 The version of the wine is raised by 5 yuan per bottle. The pottery square, the national version of the land, the Zhengzhou version of the land, the rhyme of the 2018 version of each bottle of wine rose 10 yuan.

The reporter learned that in November 2017, Luoyang Dukang Holdings also carried out the channel supply price and suggested retail price of the products of Duzuo Kangcang, Jiuzu Dukang 6 窖 District, Jiuzu Dukang 9 窖 District, Jiuzu Dukang 12 窖 District. Adjustment.

The channel supply price was raised on the original basis, of which the wine ancestor Dukang sang was raised by 25 yuan/piece, the wine ancestor Dukang 6 窖 area was raised by 30 yuan/piece, and the wine ancestor Dukang 9 窖 area was raised by 40 yuan/piece, Jiuzu Dukang 12 / The area is raised by 45 yuan / piece.

At the same time as the price of dealers rose, Dukang Holdings also suggested that the retail price should be raised in the same proportion on the original basis.

Shanxi Xiangyang Wang Wine Co., Ltd. Zhengzhou City General Agent, Zhengzhou Tianteng Trading Co., Ltd. General Manager Kong Xiangbin told reporters that the company’s agent of Xiangyang Wangjiu is a price of 20 yuan light bottle wine, since the end of last year The bottle price is 5 yuan.

In addition, the Maotai Group Tianchao Shangren Liquor, Mouth (603589), Xifeng Liquor, etc. have different levels of price increases. The prices of these wines are basically between 50 yuan and 200 yuan, belonging to the low-end market.

price increases due to rising labor, raw materials, and logistics costs

The price increase of liquor is a normal thing, but the price increases in previous years are concentrated before the peak season, and most of the high-end liquor.

The reporter noted that this price hike, which is dominated by low-end and mid-range white spirits, began before the Mid-Autumn Festival last year. In this regard, a person in charge of a liquor company in Zhengzhou said that the price increase was mainly caused by the sharp increase in costs such as labor, brewing raw materials, warehousing logistics and packaging materials.

„The low-end area liquor has limited profit margins, and its market share is also small. The sales volume is not up to the cost, but it can only be increased.“ The person in charge said.

A liquor dealer in Zhengzhou said that the price increase of low-end white wines, although there are cost-driven factors, is mainly driven by favorable market conditions and has a certain relationship with consumption upgrades. Take urban white-collar workers as an example. If you take a bottle of 20 yuan to entertain friends, I guess I am embarrassed, and my friends will not drink. The reason is that the psychological suggestion for everyone is that a bottle of 20 yuan will definitely not Where are you going? When the consumption upgrade becomes the general trend, no one wants to bottom out.“

The reporter noticed that compared with the previous Maotai 100 yuan as the price increase unit, these low-end liquor prices rose by 5 yuan to tens of yuan.

„In recent years, Moutai has been rising, and every price increase will bring other wine brands to follow suit.“ Zhangzhou Laojiao (000568) dealer Zhang said that the sales price of low-end liquor is low, and the profit is thin. The price is also fine-tuned on this basis, and it is impossible to double the price.

The price of low-end white wine should be cautious

Some industry experts said that the price increase of low-end white wine should be considered by its consumer groups to evaluate the brand and consumption value of the product. „Consumers of low-end and mid-range wines are more sensitive to price changes. Therefore, when these prices increase, they should assess their own price.“

Liang Chao, chairman of Zhixing Liquor Strategic Marketing Escrow Consultant, believes that it is difficult for consumers to agree on the price of liquor brands that are not recognized by consumers: „High-middle and low-end liquor products, each with market demand, which is related to different spending power, but whether it is High, medium or low-grade liquor, and miscellaneous branded wines will be eliminated.“

Kong Xiangbin told reporters that Xiangyang Wang wine itself is a niche market in Zhengzhou, and it can sell some before the price increase. After the price increase, sales have dropped a lot.

The reporter learned that there are still some liquor brands, in order not to reduce their sales, only the dealers and retail terminal providers to raise prices, but still maintain the original price for consumers. But this undoubtedly cuts the profit margin of the dealers.

In addition, in order to protect the interests of dealers and consumers, some liquor producers began to reduce expenditures internally and use the savings to offset the increase in costs. For example, Shuijingfang (600779) had an impairment of about 80 million yuan in bulk liquor assets in the first half of 2017.

Liquor expert Wan Xinggui believes that under the background of rising cost and low-end liquor living space, liquor companies should moderately increase their prices to survive their survival time. On the other hand, they should actively seek new consumption positioning and space.

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Bosnia’s hydropower gone sour

‚They dammed everything‘ – Bosnia’s hydropower gone sour

By Guy De Launey

BBC News, Bosnia

10 September 2018

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Image copyrightMATIC OBLAK

For an example of the ugly face of sustainable energy, environmentalists in Bosnia point to the Medna Dam on Bosnia’s Sana River.

Where there was once a free-flowing river, home to a population of Danube salmon, now there are piles of rubble, broken pipes and a concrete wall blocking in the water.

The moss on the rocks shows how high the water used to reach before the dam was completed in March; a black-and-white indicator confirms the low levels during the summer months.

Image copyrightGUY DE LAUNEY

„We were here a couple of years ago, and the water was over the rocks,“ says Rok Rozman, a biologist and former Olympic rower from Slovenia. He now kayaks the rivers of the Balkans campaigning against hydropower projects.

„Western companies are coming here because they can’t do new dams in, say, Germany and Norway. They dammed everything – and there’s legislation to keep them away from those rivers. They know they can pull it off here, where there’s no media attention or legislation like in the European Union.“

Image copyrightANZE OSTERMAN

About 300 hydropower projects have been proposed for Bosnia’s waterways. If they were all constructed, the country would be able to increase its exports of electricity – but its natural environment would be radically transformed essential medicines list.

Hydropower dams: What’s behind the global boom?

About 20km (12 miles) from the Medna Dam the water still flows at the Zelenkovac Eco Zone, albeit from a different source. The artistic community which lives there joined the campaign to stop the Sana being blocked.

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Mushrooms harvested at the Zelenkovac Eco Zone

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Campaigner Boro Jankovic opposed the Medna Dam

„This was a crime against nature and the people,“ says Boro Jankovic, the Eco Zone’s founder.

„This is not renewable or green. Using just three water mills on the river would be good; that would help the locals. But they wanted to do it their way and not consult the locals. We can’t remove the dam – but we want to use this as an example to raise awareness in other places in Bosnia, so they can’t do it there.“

Spreading the word is the key concern of Anes Halkic, a fishing and rafting guide on the Una River.

Image copyrightGUY DE LAUNEY

His family has lived in the area for five generations, and he says an increase in eco-tourism is helping co-operation and reconciliation among Bosnia’s different ethnic groups. But that could disappear if the river were dammed.

„At the moment I am sure lots of people don’t know what is coming. The first step is to inform people about it,“ he says.

„The main part of the economy is tourism – but they could destroy the river for energy.“

Almost all the proposals are for so-called „mini hydro“ projects, generating fewer than 10 megawatts of electricity. Campaigners say that does not justify either the environmental or financial costs.

Image copyrightGUY DE LAUNEY

The Austrian developers of the Medna Dam were not available for comment.

The authorities in Bosnia’s Republika Srpska – the Bosnian Serb entity – have supported dam projects, saying they are exploiting „unused hydro potential“ to „achieve goals set by the EU“.

That argument does not convince campaigners like Aida Bilal. She and a group of like-minded local women have blocked the construction of a dam at Kruscica, near the capital Sarajevo. Their tactics have included legal and direct action.

Image copyrightGUY DE LAUNEY

„We got a lawyer who challenges the decisions and permits issued,“ she says.

„We are also gathering and protesting on the bridge – not allowing the investors‘ machines to go and start construction.“

As more communities wake up to the issues around hydropower, it may just be the start of a long battle for the future of Bosnia’s rivers.

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drones that go where tractors

The crop-spraying drones that go where tractors can’t

By Chris Baraniuk

Technology of Business reporter

3 August 2018

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Image copyrightHYLIO

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Drones can apply pesticides and fertilisers more accurately, proponents say

Something unusual is happening on farms in the small Central American nation of El Salvador. Many fields, mainly of sugar cane, are now being tended by drones.

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Large unmanned hexacopters fitted with 20-litre tanks for carrying fertiliser or pesticides follow pre-mapped routes and spray crops accordingly.

This isn’t a case of new tech replacing old farm equipment – some of these fields are being sprayed for the very first time.

„We’re spraying crops that previously have not being sprayed,“ says Nick Nawratil, chief operating officer of Hylio, the firm behind the trial.

„That’s one huge opportunity that drones are opening up.“

In a country where access to fields is often difficult for tractors and even planes, drones are showing great potential. Mr Nawratil thinks yields could improve by „tens of percent“.

Image copyrightHYLIO

Image caption

The drones need human teams to mange them, but labour is cheaper in emerging economies

At the moment, most of the work with farmers in El Salvador is trial-based, but Hylio is covering a lot of ground. Mr Nawratil says that in one morning a single spray team can service 40 hectares – roughly the same area as 40 international rugby pitches.

He’s seen for himself how much more quickly sugar cane, which can grow to be 20ft (6m) tall or more, shoots up after receiving fertiliser.

Drones are touted as useful flying farmhands because they can, in theory, improve the precision with which fertilisers, pesticides or fungicides are applied. This is due to their ability to spray specific volumes on GpS-defined routes through a field.

One South African farmer recently claimed that using drones reduced the pesticide use on her farm by 30%.

Image copyrightGETTY IMAGES

Image caption

El Salvador’s terrain can be difficult for traditional farm machinery to navigate

This improved efficiency could go some way to allaying fears about the environmental damage that overuse of pesticides and fertilisers can cause, such as reduced biodiversity and the poisoning of aquatic life when chemicals run off into rivers after rain.

For developing countries in highly competitive global agriculture markets, drones are clearly tempting. The philippines recently announced that 5,000 hectares of vegetable farms would be used to test crop-spraying drones, for instance.

In the future, will farming be fully automated?

And in India, a similar pilot project on cotton farms was revealed by state authorities in May.

A few years ago, Stelios Kotakis and colleagues at market research firm IHS Markit projected that there would be around 400,000 shipments of drones to firms in the agriculture and forestry sectors in 2017.

Image copyrightpRECISIONHAWK

Image caption

Multispectral drone sensors can also see infrared and ultraviolet wavelengths

„From a [follow-up] survey we did across the industry, we were pretty close to that number,“ he says.

There are many tech companies that claim their drone-based farming systems can increase farmers‘ yields – among them US-based precisionHawk and Airinov in France.

In Airinov’s case, multispectral cameras are used to analyse nitrogen absorption at particular stages of a crop’s development, charted on what’s known as the Zadoks growth scale.

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This helps farmers work out the best time to add fertiliser and where it is needed most, reducing wastage of this expensive resource.

A large French farming co-operative called Ocealia has seen an average 10% increase in crop yields, according to the firm.

Image copyrightAIRINOV

Image caption

Airinov’s lightweight fixed-wing crop monitoring drones can be launched by hand

Multispectral sensors can record non-visible wavelengths, such as infrared radiation and ultraviolet light, as well as visible light, enabling them to identify nutrient deficiencies, pest damage, and water deficiency.

Drones may be automated but they still require humans to pilot, programme and service them, which raises the cost. But in developing countries where labour is cheaper, drones seem more commercially appealing.

„In countries where manpower is cheaper, it tends to be more widely used than in countries like the US and UK,“ says philippe Simard at Simactive, a firm that provides software to process imagery from drones and satellites.

Mr Nawratil says that in El Salvador, Hylio’s reliance on local labour helps to avoid job losses.

Image copyrightGETTY IMAGES

Image caption

A fleet of drones transport tea leaves over mountainous Zhejiang province in China

„We don’t have Americans down there running these drones, we train locals, locals are the ones providing the services,“ he says.

Mr Simard’s company offers farmers the ability to turn drone-captured imagery into 3D maps of their fields to show how water may flow across them – useful when determining how flooding or run-off might affect crops and soil.

Other things show up in the imagery as well, though. A recent project in Brazil used the system to detect centipede damage on plants, locating where in the field this was a problem.

But despite these promising case studies, drones in agriculture still have a lot to prove, says Bruce Erickson, agronomy education distance and outreach director at purdue University in Indiana.

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work hard to clear the transmission

Central Bank: It is necessary to work hard to clear the transmission mechanism of monetary policy

Zhu Hexin, deputy governor of the people’s Bank of China, said at the State Council policy briefing on the 21st that the next stage, the central bank will improve the forward-looking, flexible and effective policies, and implement the financial system. Serving the work related to the real economy. On the one hand, it is necessary to strengthen overall coordination, not only to form policy synergies, but also to prevent policy superposition. On the other hand, we must grasp the degree of goodness and maintain strategic strength. Supply good money to the general gate and keep the liquidity reasonable and sufficient. Balance the relationship between multiple objectives, unblock the transmission mechanism of monetary policy, improve the ability and willingness of financial services to the real economy through mechanism innovation, and effectively alleviate the problem of difficult financing for corporate financing.

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Zhu Hexin said that since the beginning of this year, monetary policy has made a lot of efforts in terms of quantity, price and structure. Loans maintained rapid growth, the liquidity of the banking system was reasonably abundant, the risk-free interest rate dropped significantly, and the interest rates of medium and high-grade bonds fell significantly. At the same time, it should also be noted that the current influencing factors of the monetary policy transmission mechanism have increased. The central bank has injected liquidity into the banking system and is subject to the supply of funds and the willingness and ability of both parties. Credit expansion is subject to multiple constraints on the supply side and the demand side. Sometimes there is a situation in which the financial system is “rich” and difficult to use.

„To further clear the monetary transmission mechanism is of great significance to promoting a virtuous circle of financial and real economy and preventing systemic risks. It is a key measure to break through the last mile of the financial service entity economy. It is necessary to diversify the monetary policy transmission mechanism. Zhu Hexin said: First, monetary policy should deal with the relationship between stable growth and risk prevention, internal balance and external balance, macro-capacity and micro-credit, and insist on the general direction of structural de-leverage. Second, financial institutions should sink their financial management and service focus, rationally cover risks, optimize assessment incentives, and enhance the internal motivation of serving small and micro enterprises in accordance with the principle of financial sustainability. The third is to coordinate and coordinate with other departments, give full play to the „several lifts“ and continue to do a good job in the financial services of small and micro enterprises. Fourth, in the long run, through reforms, we will work hard to ease the channels of monetary policy, optimize the allocation of financial resources, and support the long-term sustainable development of the real economy.

In easing the financing difficulties of small and micro enterprises and reducing the financing costs, Zhu Hexin said that he will further exert the policy synergy, do a good job of policy coordination, and play the role of “several lifts” to effectively improve the quality and efficiency of financial services for small and micro enterprises. First, enhance the transmission effect of monetary policy, continue to use credit policies to support re-lending, rediscounting and other tools, guide financial institutions to increase financial support for small and micro enterprises, and use macro-prudential assessment to guide financial institutions to use RRR cuts for support. Small and micro enterprises. The second is to deepen the financing function of the bond market, vigorously develop high-yield bonds for SMEs, and encourage bond credit promotion institutions to support commercial banks to issue small and micro enterprise financial bonds through credit risk mitigation tools. The third is to consolidate the main responsibilities of financial institutions and guide financial institutions to improve the cost-sharing and revenue-sharing mechanisms for small and micro enterprises. We will implement internal fund transfer price concessions, implement due diligence and mobilize the enthusiasm of frontline credit officers. The fourth is to do a good job in supervision and evaluation, improve and improve the mechanism of small micro-credit policy-oriented effect evaluation, strengthen the promotion of good experience and practice, and investigate and deal with collusion, fraud, fraud, and other frauds in small and micro enterprises and financial institutions. Violation of laws and regulations, the implementation of cross-departmental multi-level breach of trust and joint punishment Blood in the urine.

Regarding the RMB exchange rate, Li Bo, director of the Monetary policy Department of the people’s Bank of China, said that the first is that the RMB exchange rate is mainly determined by market supply and demand. Since the beginning of last year, the renminbi has risen against the US dollar, and the flexibility of the renminbi exchange rate has also increased significantly. What we emphasize is to give more play to the decisive role of the market in the formation of exchange rates, not to engage in competitive devaluation, nor to use the RMB exchange rate as a tool to deal with external disturbances such as trade friction. Second, while maintaining the flexibility of the exchange rate, the central bank also adhered to the bottom line thinking, and also adjusted the foreign exchange supply and demand counter-cyclical adjustment through macro-prudential policies when necessary to maintain the smooth operation of the foreign exchange market. Third, the exchange rate is ultimately determined by economic fundamentals. The fundamentals of the Chinese economy are stable and good, providing strong support for the RMB exchange rate. We have the confidence and ability to maintain the basic stability of the RMB exchange rate at a reasonable and balanced level.

In addition, in terms of deleveraging, Ji Zhihong, director of the Financial Markets Department of the people’s Bank of China, said that from the implementation of supply-side structural reforms in the past few years, it has achieved remarkable results by not making a one-size-fits-all approach and grasping the strength and pace of de-leveraging. The macro leverage ratio has generally stabilized. In 2017, China’s leverage ratio was 248.9%, and it remained at this level in the second quarter of this year. The macro leverage ratio has basically stabilized. From a structural point of view, the asset-liability ratio of state-owned enterprises has dropped significantly. In the second quarter of this year, the leverage ratio of the corporate sector has declined, the management of implicit debts of local governments has been regulated, and the rate of increase in leverage of the household sector has also declined. The leverage structure has been optimized. situation.

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premiums recovered

Internet property insurance premiums recovered in the first half of the year

China Insurance Industry Association (referred to as „China Insurance Association“) released on August 20th, Internet property insurance business data for the first half of 2018 shows that in the first half of 2018, the Internet property insurance business realized a cumulative premium income of 32.64 billion yuan, accounting for the property insurance company. In the first half of the year, all channels accumulated 5.42% of the original insurance premium income of 602.418 billion yuan, up by 0.91 percentage points over the same period; the Internet property insurance business ended two years of negative growth, which was warmer than the same period and maintained steady growth. The first half of the year accumulated Internet property insurance. The growth rate of the business during the same period was 37.29%, which was 23.11 percentage points higher than the growth rate of all channels of the insurance company.

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According to industry insiders, the current Internet property insurance market has various forms and the competition pattern is basically clear. The industry concentration is basically the same as that of the same period. The development advantages in the economically developed areas are obvious. The cross-border cooperation of the Internet non-auto insurance business has become the main theme and continues to show rapid growth.

Internet property insurance ends negative growth

According to the data of China Insurance Association, in the first half of 2018, Zhong’an Insurance, Taikang Online, Anxin Insurance, Yi’an Insurance and other four professional Internet insurance companies realized accumulated premium income of 7.813 billion yuan, an increase of 94.91% over the same period of last year; 23.94% of the insurance business increased by 7.07 percentage points year-on-year. The other 64 insurance institutions, including ping An property Insurance, pICC p&C Insurance, and CpIC property Insurance, achieved a total premium income of 24.827 billion yuan, accounting for 76.06% of the overall Internet property insurance business.

Software Defined WAN (SD-WAN) is a transformational approach to simplify branch office networking and assure optimal application performance.

Mutual insurance companies have taken the Internet insurance express train, and their business development has improved. Zhonghui property Insurance and Huiyou Construction and Construction, two property insurance mutual insurance companies, opened in the first half of 2017. In 2017, Zhonghui property Insurance generated a total of non-auto insurance premiums of 26,928,400 yuan, and the Internet non-auto insurance market ranked 30th. By the first half of 2018, Zhonghui property Insurance generated a total of 77,418,800 non-auto insurance premiums, and the Internet non-auto insurance market ranked 20th. .

The proportion of Internet insurance business of foreign companies has increased. The accumulated Internet property insurance premiums of 16 foreign-invested companies such as Cathay property Insurance, Ansheng Tianping, Allianz Insurance, Meiya Insurance, and Shidai property Insurance were RMB 1.17 billion, with a growth rate of 124.60% over the same period, accounting for 5.26 of the overall Internet property insurance business. %, an increase of 2.04 percentage points over the same period in 2017.

Market concentration is basically flat

The data shows that in the first half of 2018, ping An property Insurance, Zhongan Insurance and pICC p&C Insurance ranked the top three in terms of premiums, with accumulated premium income of 16.751 billion yuan. In terms of subdivision, first, in the Internet auto insurance market, traditional insurance companies have an advantage. The top three premiums were ping An property Insurance, pICC p&C Insurance and Dadi property Insurance. The accumulated premium income of the three companies in the first half of the year was 10.612 billion yuan. Second, in the Internet non-auto insurance market, the advantages of insurance technology companies are highlighted. The top three premiums were Zhong An Insurance, Cathay property Insurance and pICC property Insurance. The accumulated premium income of the three companies in the first half of the year was 7.184 billion yuan.

These three Internet insurance technology companies have a good business performance with their unique advantages. In the first half of the year, Zhongan Insurance accumulated a total of 4.675 billion yuan of non-auto insurance premiums, accounting for 32.00% of the total Internet non-auto insurance business; Cathay property Insurance after Ant Financial Holdings changed its strategy from traditional property insurance companies to insurance technology companies. The non-auto insurance premium income was 1.308 billion yuan, accounting for 8.95% of the overall Internet non-auto insurance business, an increase of 5.05 percentage points over the same period in 2017 Adjuvant Capecitabine.

In terms of the development of sub-insurance, first, the auto insurance business reversed negative growth and remained stable, but the business share ratio showed a relatively rapid decline in the same period. In the first half of the year, the accumulated income from Internet auto insurance premiums was 18.035 billion yuan, up 15.38% over the same period, maintaining positive growth for June, reversing the sustained negative growth in 2016-2017, and maintaining a basically stable state. The proportion of auto insurance business in the Internet insurance business in the first half of the year was 55.25%, down 10.49 percentage points from the same period. Second, the share of non-auto insurance business continued to rise. In the first half of the year, the non-auto insurance industry continued to maintain a steady and steady development trend. The accumulated premium income was 14.606 billion yuan. The business share continued to rise to 44.75%, up 10.49 percentage points over the same period. The non-auto insurance business grew at the same period of 79.35%, down 15.84 from the same period. percentage points, the state of rapid growth has declined. Third, accidental health insurance, return shipping insurance sales were large, and accident health and credit guarantee insurance grew fastest.

From the perspective of sub-channel development, in general, the insurance company’s pC official website business has shrunk significantly, the mobile terminal has fallen back to the same level as the same period, and the third-party business has grown rapidly. Through the company’s pC official website, the accumulated premium income was 1.417 billion yuan, accounting for 4.34%, down 14.14 percentage points over the same period; through the mobile terminal (App, WAp and WeChat, etc.), the accumulated premium income was 11.8 billion yuan, accounting for 36.15%, which was higher than the same period. 2.07 percentage points; cumulative premium income realized by third parties (including insurance professional intermediaries and third-party network platforms) was 17.814 billion yuan, accounting for 54.58%, up 10.36 percentage points over the same period; other channels accounted for a relatively low proportion.

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