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The famous Italian luxury brand Prada published its half-year financial report， stating the income of 1.75 billion euros in the first half of 2014 financial year ending July 2014. The figure only increased by 1% compared with the one of last financial year， or 4% with the constant exchange rate. The lowest halfyear increase since its going public was mainly a result of the depress leather products which are the major sources of its income and the European and Asian market which used to sport its best business.
The Asian-Pacific market which was once the leading market of Prada only saw the 2% year-on-year increase under constant exchange rate. The markets of South Korea， Hong Kong and Singapore were haunted by continuous depression. In comparison， mainland China made impressive contributions as the income in the second quarter of this financial year increased by 12% under the constant exchange rate.
Patrizio Bertelli， CO-CEO of Prada， says that it is hard to maintain the prosperity in one market and the group is going to stick to the cost control measures to improve the profit margin.
Regionally， the European market was hampered by the economic depression and reduced number of tourists. There the revenue in the first half of this financial year dropped 1% under the constant exchange rate. The American market had a good financial performance as the revenue increased by 14% under the constant exchange rate. The Japanese market was also quite vigorous with a 10% increase in the revenue （19% increase under constant exchange rate）. The Middle East market saw the revenue go up 16% in the first half of 2014 financial and the figure was 21% under the constant exchange rate.
As for the brands， Prada’s revenue increased by 1%； Miu Miu went up 3%； Church’s rose 12% and Car Shoe increased by 2%. In terms of the distribution channel， the wholesale sector contributed 288 million euros in the second quarter， up 1% year on year. The retailing part that accounts for 83% of the total income saw the revenue increase by 2% to 1.442 billion euros in the first half of this financial year.
“The fast expansion of Prada in the world is a major cause of the depression in the business，” says an expert in the luxury industry. Take the Middle East market for example： the company had established 16 direct outlets in this area by the end of April 30， 2014， eight times as much as the number in the same period of last year.
In China， Prada had been running 27 direct outlets by January 2014. They were located in Beijing， Shanghai and Guangzhou. As reported， Prada is going to follow the plan of opening more outlets in the world. Carlo Mazzi， vice chairman of Prada， once said that the company is going to establish more than 80 outlets in the world and China is the primary destination there. China as the world’s second largest film market
Luan Guozhi， deputy director of the State Administration of Press， Publication， Radio， Film and Television， said July 5 in the first meeting of the Committee of the 12th Changchun Film Festival， the box office income of cinemas in China this year had reached 17.648 billion yuan by August 3， 2014， of which the domestic films contributed 52% of the revenue. In the 39 films whose single box office income surpassed 100 million yuan， 22 were made by Chinese people.
Luan Guozhi said that the box office income this year was expected to reach 27 billion yuan， with the 30% yearon-year increase. China has become the second largest film market next to the U.S.
According to Luan Guozhi， the seven ministries of China have jointly issued The Notice about Several Economic Policies to Support the Development of Films， including the support in taxation， land finance， capital and other things long craved by the film industry. These measures will push the film industry of China into a key period of fast and healthy development.
Luan said that China produced 638 feature films in 2013， ranking No. 3 in the world behind the U.S. and India.
New regulations mean ads opportunities for instant communication tools
The newly issued management rules of instant communication tools in China will bring about new advertising opportunities for China’s Internet giant Tecent and the communication tools it spares no efforts in spreading.
When the new rules， which have stricter regulations over the users’ privacy， contents and users’ IDs， came out on August 7， the market value of Tecent lost US$5 billion. Investors worry that WeChat and QQ， two popular instant communication tools under Tecent， will lose their charm and popularity among users. These two applications have got dominant place in the Chinese market of instant communication tool as they have recruited 300 million users in total.
Fortunately， one day later， Tecent’s stock price rebounded again as investors began to view this policy with the longterm viewpoint.
Muzhi Li， an analyst with Arete， says that the stricter rules for the identification of users might help to improve the value of users of instant communication tools.
To know more about your users is more important than the massive visits by unknown users. With that thing， Facebook could understand the users’information and realize the precise target of ads delivery. For ads agencies and enterprises， the ads and products tailored for different users can help to improve conversion rate of users. Tecent made no comments on the influence of the new regulations， but the company said that it would follow the state rules to fight against the spread of improper contents and the abuse of accounts to make sure WeChat meet the new requirements.
According to the new rules， the said public account of WeChat and other instant communication tools cannot be registered before having the real identification of users accredited by the relevant department. In 2011， the Chinese government issued similar rules for Sina Microblog and other social media apps.
The income of WeChat comes from sectors irrelevant to news or politics. Games， tags of facial expression and online shopping are the major contributors of the information. In the first quarter Tecent saw its profits increase by 60% year on year mainly due to the increase in the sales of online games.
Wang Xiaofeng with Forrester says that it is unlikely for WeChat to see the massive loss of users because the rule works for other instant communication tools in China. The data from Analysys International shows that WeChat takes 87.6% of the instant communication tool market in China.
NDRC to spur the development of emerging industries
The National Development and Research Commission （NDRC） of China published an article on August 7 with clear intents of change plans for the development of cloud computing， Internet of things， biology and ecommerce and accelerating the development of innovative drugs， opening of low-altitude airspace， general-purpose aviation and reform to the electric power system.
“In the first half of 2014， the NDRC goes deeply into the implementation and realization of innovation-driven strategies to substantially boost the healthy and balanced development of hitech industries and emerging sectors，”says the relevant director of the NDRC.
Concretely， the NDRC established 20 key projects and initiated the important projects like smart manufacturing， bio-tech breeding， satellite-based navigation and so on. In addition， it improved the review system and standards for the strategic areas with emerging industries to help some places see the progress in the key areas. The “Broadband China”project brought the high-speed Internet to the rural areas. The startups could enjoy the new investment funds co-sponsored by the NDRC and China’s Ministry of Finance.
In the next few years， the NDRC is going to be focused on the cloud computing， Internet of things， biotech， ecommerce， innovative drugs， opening of low-altitude airspace， general-purpose aviation and reform to electric power system. A series of important industrial policies and reform measures have been issued. In addition， the NDRC is going to speed up the “Broadband China” project to build a more universal broadband system in China. It is also devoted to building platforms for sharing technologies and facilitating tests in the key emerging industries. The new display panel， highend diagnosis devices and so on are going to be boosted as well.
“Macroscopically， China’s manufacturing is facing a new industrial reform which features being digitalized， Internetdriven， mutually communicative and intelligence-driven，” says Li Bohu， an academician with the Chinese Academy of Engineering. It is still important for China in the next 5 to 10 years to explore and foster the sustainable manufacturing pattern and methods for the highefficiency， high-quality， low-energyconsumption and environment-friendly manufacturing.
Cheaper American pork approaches the Chinese market
In the first half of this year， the supply of live pigs in the U.S. was reduced because of the porcine diarrhea. Thus the price increased 30%， helping the U.S. largest live big supplier Smithfield which has been acquired by Chinese company Shuanghui earn a lot from raising live pigs.
However， the U.S. pork whose price is 30% higher than before is still cheaper than that in China.
In August， the price of live pig is 14.3 yuan per kilogram while the price in the U.S. was only ten yuan per kilogram.
According to the financial report from Smithfield， the average price of live pig in the U.S. market was US$88 per hundredweight or 10.84 yuan per kilogram in the second quarter of this year. This was the highest point of the U.S. pork price， but still 30% lower than that in China.
With the betterment of the epidemic situation， the U.S. pork will be cheaper. As forecast by the U.S. Department of Agriculture， the U.S. pork price is going to be US$86-90 per hundredweight in the third quarter of 2014， almost at the same level with that of second quarter. In 2015， the pork price will drop back to US$75-81 per hundredweight or 9.24-9.98 yuan per kilogram.
In China， whether the pork price can be higher than 10 yuan per kilogram could decide whether the pig feeders or relevant enterprises can earn profits or not. Generally speaking， loss would occur if the pork price is lower than 10 yuan per kilogram. In the first half of this year， the pork price in China dropped to lower than 10 yuan per kilometer. Even the listed companies with massive capital and impressive technologies could not avoid the loss. The lower price of U.S. pork lies with the cheaper forages. Corns and wheat are the major ingredients of the forages for pigs. At the end of 2013， the wheat in China valued 2500 yuan per ton while the price in the U.S. was 1300 yuan per ton. The corn price in the U.S. went through drastic price decrease in 2009 and ended at 900 yuan per ton in 2013. In comparison， the corn price in China has been keeping the mild increase since 2005 and climbed to 2250 yuan per ton.
With so many disadvantages， the Chinese pork enterprises are hard to get into the U.S. market or compete internationally. The only option is to acquire the U.S. companies like what Shuanghui did one year ago. Right now， there is not so much pork flowing from the U.S. to China because the Chinese government bans the use of brown meat essence which is allowed in the U.S. However， this is not a problem that will stop the U.S. meat from getting into China forever. The brown meat essence could reduce the time of pig’s maturation by one week and reduce the cost of forages a bit， but the increase in time and forage cost brought by the ban of brown meat essence is nothing compared with the 30% price gap between pork in China and the U.S.
Presently， the meat from Smithfield that is sold in China targets the highend market. The imports volume is quite small， but if the Chinese pork market is open， it is not strange for the massive flow of cheap U.S. pork to get into China.
The Asian-Pacific market which was once the leading market of Prada only saw the 2% year-on-year increase under constant exchange rate. The markets of South Korea， Hong Kong and Singapore were haunted by continuous depression. In comparison， mainland China made impressive contributions as the income in the second quarter of this financial year increased by 12% under the constant exchange rate.
Patrizio Bertelli， CO-CEO of Prada， says that it is hard to maintain the prosperity in one market and the group is going to stick to the cost control measures to improve the profit margin.
Regionally， the European market was hampered by the economic depression and reduced number of tourists. There the revenue in the first half of this financial year dropped 1% under the constant exchange rate. The American market had a good financial performance as the revenue increased by 14% under the constant exchange rate. The Japanese market was also quite vigorous with a 10% increase in the revenue （19% increase under constant exchange rate）. The Middle East market saw the revenue go up 16% in the first half of 2014 financial and the figure was 21% under the constant exchange rate.
As for the brands， Prada’s revenue increased by 1%； Miu Miu went up 3%； Church’s rose 12% and Car Shoe increased by 2%. In terms of the distribution channel， the wholesale sector contributed 288 million euros in the second quarter， up 1% year on year. The retailing part that accounts for 83% of the total income saw the revenue increase by 2% to 1.442 billion euros in the first half of this financial year.
“The fast expansion of Prada in the world is a major cause of the depression in the business，” says an expert in the luxury industry. Take the Middle East market for example： the company had established 16 direct outlets in this area by the end of April 30， 2014， eight times as much as the number in the same period of last year.
In China， Prada had been running 27 direct outlets by January 2014. They were located in Beijing， Shanghai and Guangzhou. As reported， Prada is going to follow the plan of opening more outlets in the world. Carlo Mazzi， vice chairman of Prada， once said that the company is going to establish more than 80 outlets in the world and China is the primary destination there. China as the world’s second largest film market
Luan Guozhi， deputy director of the State Administration of Press， Publication， Radio， Film and Television， said July 5 in the first meeting of the Committee of the 12th Changchun Film Festival， the box office income of cinemas in China this year had reached 17.648 billion yuan by August 3， 2014， of which the domestic films contributed 52% of the revenue. In the 39 films whose single box office income surpassed 100 million yuan， 22 were made by Chinese people.
Luan Guozhi said that the box office income this year was expected to reach 27 billion yuan， with the 30% yearon-year increase. China has become the second largest film market next to the U.S.
According to Luan Guozhi， the seven ministries of China have jointly issued The Notice about Several Economic Policies to Support the Development of Films， including the support in taxation， land finance， capital and other things long craved by the film industry. These measures will push the film industry of China into a key period of fast and healthy development.
Luan said that China produced 638 feature films in 2013， ranking No. 3 in the world behind the U.S. and India.
New regulations mean ads opportunities for instant communication tools
The newly issued management rules of instant communication tools in China will bring about new advertising opportunities for China’s Internet giant Tecent and the communication tools it spares no efforts in spreading.
When the new rules， which have stricter regulations over the users’ privacy， contents and users’ IDs， came out on August 7， the market value of Tecent lost US$5 billion. Investors worry that WeChat and QQ， two popular instant communication tools under Tecent， will lose their charm and popularity among users. These two applications have got dominant place in the Chinese market of instant communication tool as they have recruited 300 million users in total.
Fortunately， one day later， Tecent’s stock price rebounded again as investors began to view this policy with the longterm viewpoint.
Muzhi Li， an analyst with Arete， says that the stricter rules for the identification of users might help to improve the value of users of instant communication tools.
To know more about your users is more important than the massive visits by unknown users. With that thing， Facebook could understand the users’information and realize the precise target of ads delivery. For ads agencies and enterprises， the ads and products tailored for different users can help to improve conversion rate of users. Tecent made no comments on the influence of the new regulations， but the company said that it would follow the state rules to fight against the spread of improper contents and the abuse of accounts to make sure WeChat meet the new requirements.
According to the new rules， the said public account of WeChat and other instant communication tools cannot be registered before having the real identification of users accredited by the relevant department. In 2011， the Chinese government issued similar rules for Sina Microblog and other social media apps.
The income of WeChat comes from sectors irrelevant to news or politics. Games， tags of facial expression and online shopping are the major contributors of the information. In the first quarter Tecent saw its profits increase by 60% year on year mainly due to the increase in the sales of online games.
Wang Xiaofeng with Forrester says that it is unlikely for WeChat to see the massive loss of users because the rule works for other instant communication tools in China. The data from Analysys International shows that WeChat takes 87.6% of the instant communication tool market in China.
NDRC to spur the development of emerging industries
The National Development and Research Commission （NDRC） of China published an article on August 7 with clear intents of change plans for the development of cloud computing， Internet of things， biology and ecommerce and accelerating the development of innovative drugs， opening of low-altitude airspace， general-purpose aviation and reform to the electric power system.
“In the first half of 2014， the NDRC goes deeply into the implementation and realization of innovation-driven strategies to substantially boost the healthy and balanced development of hitech industries and emerging sectors，”says the relevant director of the NDRC.
Concretely， the NDRC established 20 key projects and initiated the important projects like smart manufacturing， bio-tech breeding， satellite-based navigation and so on. In addition， it improved the review system and standards for the strategic areas with emerging industries to help some places see the progress in the key areas. The “Broadband China”project brought the high-speed Internet to the rural areas. The startups could enjoy the new investment funds co-sponsored by the NDRC and China’s Ministry of Finance.
In the next few years， the NDRC is going to be focused on the cloud computing， Internet of things， biotech， ecommerce， innovative drugs， opening of low-altitude airspace， general-purpose aviation and reform to electric power system. A series of important industrial policies and reform measures have been issued. In addition， the NDRC is going to speed up the “Broadband China” project to build a more universal broadband system in China. It is also devoted to building platforms for sharing technologies and facilitating tests in the key emerging industries. The new display panel， highend diagnosis devices and so on are going to be boosted as well.
“Macroscopically， China’s manufacturing is facing a new industrial reform which features being digitalized， Internetdriven， mutually communicative and intelligence-driven，” says Li Bohu， an academician with the Chinese Academy of Engineering. It is still important for China in the next 5 to 10 years to explore and foster the sustainable manufacturing pattern and methods for the highefficiency， high-quality， low-energyconsumption and environment-friendly manufacturing.
Cheaper American pork approaches the Chinese market
In the first half of this year， the supply of live pigs in the U.S. was reduced because of the porcine diarrhea. Thus the price increased 30%， helping the U.S. largest live big supplier Smithfield which has been acquired by Chinese company Shuanghui earn a lot from raising live pigs.
However， the U.S. pork whose price is 30% higher than before is still cheaper than that in China.
In August， the price of live pig is 14.3 yuan per kilogram while the price in the U.S. was only ten yuan per kilogram.
According to the financial report from Smithfield， the average price of live pig in the U.S. market was US$88 per hundredweight or 10.84 yuan per kilogram in the second quarter of this year. This was the highest point of the U.S. pork price， but still 30% lower than that in China.
With the betterment of the epidemic situation， the U.S. pork will be cheaper. As forecast by the U.S. Department of Agriculture， the U.S. pork price is going to be US$86-90 per hundredweight in the third quarter of 2014， almost at the same level with that of second quarter. In 2015， the pork price will drop back to US$75-81 per hundredweight or 9.24-9.98 yuan per kilogram.
In China， whether the pork price can be higher than 10 yuan per kilogram could decide whether the pig feeders or relevant enterprises can earn profits or not. Generally speaking， loss would occur if the pork price is lower than 10 yuan per kilogram. In the first half of this year， the pork price in China dropped to lower than 10 yuan per kilometer. Even the listed companies with massive capital and impressive technologies could not avoid the loss. The lower price of U.S. pork lies with the cheaper forages. Corns and wheat are the major ingredients of the forages for pigs. At the end of 2013， the wheat in China valued 2500 yuan per ton while the price in the U.S. was 1300 yuan per ton. The corn price in the U.S. went through drastic price decrease in 2009 and ended at 900 yuan per ton in 2013. In comparison， the corn price in China has been keeping the mild increase since 2005 and climbed to 2250 yuan per ton.
With so many disadvantages， the Chinese pork enterprises are hard to get into the U.S. market or compete internationally. The only option is to acquire the U.S. companies like what Shuanghui did one year ago. Right now， there is not so much pork flowing from the U.S. to China because the Chinese government bans the use of brown meat essence which is allowed in the U.S. However， this is not a problem that will stop the U.S. meat from getting into China forever. The brown meat essence could reduce the time of pig’s maturation by one week and reduce the cost of forages a bit， but the increase in time and forage cost brought by the ban of brown meat essence is nothing compared with the 30% price gap between pork in China and the U.S.
Presently， the meat from Smithfield that is sold in China targets the highend market. The imports volume is quite small， but if the Chinese pork market is open， it is not strange for the massive flow of cheap U.S. pork to get into China.