2021 is destined to be a year that many people will never forget. Many industries have reached a turning point, and the era of barbaric growth has passed. However, amidst the shocks and changes, new hope is also being given birth to.

2021 is destined to be a year that many people will never forget.

Many industries have reached a turning point. The era of barbaric growth has passed, but amidst the shock and change, new hope is also being given birth to.

The days of rapid real estate development are gone forever; the double reduction policy has been introduced, and the education and training industry has ushered in major changes; the pig cycle has declined, and the performance of pig companies has fallen one after another; the pharmaceutical industry that once created the myth of wealth has begun to gradually fragment; Sydney, Wei Two major anchors, Ya, have "fallen", and the live streaming industry has become more standardized.

In the context of " carbon neutral " and emphasis on technological innovation, there are also some industries and companies that are becoming rising stars.

New energy is booming, and CATL's , with a market value of over one trillion, is called "King Ning" by investors; the concept of metaverse was born, and is highly sought after by capital; the chip industry, which was once "stuck", has become a scientific research , key areas for investment breakthroughs.

In the new consumption environment, the halo of "foreign brands" has faded. While they frequently overturn, a number of new and cutting-edge national brands are rapidly emerging.

In an era of rapid change, true records and rational analysis have become particularly important. City Boundary has recorded 15 stories belonging to 2021. They are sudden and have far-reaching impact, and they also hide the path to 2022.

01, post-90s Christians appear on the scene, fund managers stand in the spotlight

Funds became popular after the 2021 Spring Festival, and the post-90s generation became the new Christian democratic force. When they first came to the investment circle, they followed the UP master to buy funds . After the market turmoil, many people lamented: "People are still there, but the money is gone."

Young people who speculate in funds chase fund managers like chasing stars, and even specialize in A "support club" was established. Fund managers, an originally somewhat "mysterious" group, have also been thrust into the spotlight.

The sentence "Kunkun flies bravely, iKun will always be with you!" witnesses investors' love for E Fund manager Zhang Kun. Since 2013, he has held a heavy position in Kweichow Moutai for more than 31 quarters, taking advantage of Moutai's bull market dividends one after another. After that, the myth of liquor stocks was shattered, and Zhang Kun also faced huge challenges.

At the beginning of 2021, the fund managers of Chongcang Pharmaceutical also received a lot of attention. In the past, there was Gulen, who "left the circle" from medicine, and the new fund was deployed in liquor, new energy, photovoltaics and many other sectors; later, Zhao Beicheng became the first five-year female fund manager champion in the history of public funds.

I have read so many stories of fund managers. In the past 2021, how were your profits from " fund speculation "?

02. Apple has made another bad start, setting off changes in the mobile phone industry

In 2021, iPhone13 was released. The most eye-catching thing is that the mobile phone continues the policy of iPhone12 and no longer comes with a charging head.

Although it is in the name of environmental protection, Apple's decision is also based on profit considerations. Since 2014, the growth rate of the mobile phone market has slowed down, and finding profit points other than mobile phones has become the only choice for major mobile phone manufacturers.

After making a fortune from using wireless headphones, Apple has started the bad habit of not sending a charger.. Domestic mobile phone manufacturers such as Xiaomi and Meizu have also "imitated" and launched wireless charging versions of mobile phones.

5G and chips are also keywords for the mobile phone industry in 2021. Data shows that from January to November 2021, 5G mobile phones accounted for three-quarters of my country's total mobile phone shipments; mobile phone chip has become the focus of research and development by major domestic mobile phone manufacturers.

Due to the absence of Huawei , Xiaomi once became the world's second largest mobile phone manufacturer, but the good times did not last long. Under competition from Apple, VIVO, OPPO, etc., Xiaomi was quickly surpassed.

In 2022, the mobile phone market is still worth looking forward to.

03, "Chip shortage", we are struggling to catch up

Global chip shortage, for a while "chip" seems to have become the most sensitive and sighing topic.

At the beginning of this year, we analyzed the growth path of Dutch lithography machine giant ASML , hoping to find out the gaps in my country's chip industry.

, the only company capable of producing EUV lithography machines, was so poor that it could not pay wages in its early years. However, due to factors such as lofty top-level design and persistence in difficult situations, the company finally achieved a "counterattack" and stood at the top of the global semiconductor pyramid.

my country’s semiconductor industry is also emerging with more and more star companies.

GigaDevice , a company that started with Tsinghua alumni putting together US$1 million, is now an industry leader. However, its market value has fluctuated greatly in the past two years, which has inevitably worried investors.

In 2021, we also shared the story of the three most powerful brothers and sisters in my country's chip industry. In more than 20 years, the Dai brothers and sisters have founded 6 chip companies, but challenges remain.

After all, there is no mediocrity in this industry to survive. The only way is to always strive for the top, produce the best products, and become the boss.

04. From Moutai being robbed to capital being lost Moutai Town

In 2021, Moutai is still hot.

html At the beginning of this year, Moutai's stock price plummeted in the capital market. However, in the consumer market, a bottle of the hard-to-find 53-degree Feitian Moutai still fascinated countless people. Even those born after 300 came to grab Moutai..

html In the past three years, Maotai has been popular in Maotai-flavored wine. Maotai Town has attracted many foreign "gold diggers", and many listed companies plan to acquire wine companies in Maotai Town.

html In July, the city went to Maotai Town and conducted on-site inspections of Shengjiao Liquor and other companies that the listed company wanted to acquire at the time. It was found that the companies here wanted to be related to Maotai, but they had problems with their own operations. Capital is hunting down Maotai Town. is the concept of money that never sleeps.

Three months later, the regulatory policy suddenly changed, and listed companies that wanted to acquire wine companies announced the termination of the acquisition. We followed up in time, and found that the capital was finally lost to Maotai Town..

05. The rapid development of real estate has become history

In 2021, the false enthusiasm of the real estate industry has receded, and high-leverage operations have become history.

html At the beginning of 3, the U.S. real estate market diverged, and many investors who bought U.S. real estate a few years ago began to sell. We found that at the end of 2020, Wu Xiubo sold the luxury house he bought for 5.5 million US dollars five years ago for 4.7 million US dollars.

China insists on "housing is for living, not for speculation", and local governments are also resolutely cracking down on real estate speculators. The introduction of the "121" new policy in Shanghai's real estate market has made it easier for people who fake divorces and use loans illegally to escape. However, it also puts people who have paid a deposit and have not yet signed online into a dilemma.

In such a big environment, some people are happy and some are sad. Some people see hope of settling down and starting a business because of the stabilization of housing prices, while others have to face the depreciation of assets. For example, someone bought a house in Yanjiao for 4 million and sold it for 1.7 million..

Many real estate tycoons are also in trouble. Among them, Pan Shiyi tried to sell SOHO China and successfully retreated, but it ended abruptly.

06. The decline of foreign brands and the rise of national fashion brands

Unlike the stabilization of real estate, domestic consumer brands have ushered in a golden period of development in the past two years.

In 2021, from the beginning of the year to the end of the year, there have been foreign brands "overturning". Previously, Yakult was fined for promoting "probiotics play an important role in the prevention and treatment of new coronavirus pneumonia"; later, Canada Goose was boycotted because of the different return and exchange policies in the Chinese market and foreign markets such as Canada.

In the new consumption environment, Chinese consumers no longer look at "foreign brands" in a different light, and a number of domestic brands have taken advantage of the situation to rise.

In the past year, we have also turned our attention to domestic brands and studied why Li Jiaqi's popular Hua Xizi can be sold at high-end prices .

New consumption channels are constantly emerging. Coffee brands such as Xiaohongshu and other platforms have become popular. With their design-conscious appearance, young people have fallen into the pit of good looks..

In the new year, we will continue to explore and share the growing power of domestic products with our friends.

07. Under "carbon neutrality", the "big year" for the energy industry is coming.

2021 can be regarded as the first year of carbon neutrality. In this context, the energy industry completely exploded.

The prices of traditional energy sources such as coal have soared, and the "coal bosses" have become rich again.

The listed company Ordos we analyzed has transformed from a clothing company into an "energy giant" by relying on the rich local coal and silica resources. Since the beginning of this year, coal and silica prices have skyrocketed and plummeted, which has affected the ups and downs of Ordos' stock price.

New energy is even more popular. Photovoltaics, power batteries, etc. have created wealth myths one after another. During the National Day, we specially launched the "New Energy Feast" series of planning, hoping that through our own analysis, users can better understand these leading new energy companies.

Longi Holdings , which produces photovoltaic silicon wafers and components, is at the forefront of the industry in terms of output and profitability, but its competitive advantage is also shrinking under the constant attack by many competitors.

The new energy fire has also made the "big guys" behind the scenes move from behind the scenes to the front, and become known to more and more people. Among them, Liu Hanyuan, of Tongwei Co., Ltd., was originally engaged in the breeding and feed industries. This year, he relied on photovoltaics to make it onto the 2021 Forbes Global Rich List.

(Picture note: Liu Hanyuan)

08. The Lost Pig Industry: Falling from the Peak

The person who is often compared with Liu Hanyuan is Liu Yonghao of New Hope . These two entrepreneurs are both from Sichuan, and they both make feed.

In 2021, Liu Hanyuan's Tongwei shares are in the spotlight, while Liu Yonghao's New Hope Liu and fell into losses due to the fall in pork prices.

(Picture note: Liu Yonghao)

In 2019 and 2020, under the "super pig cycle", many pig raising companies have tasted the benefits. Qin Yinglin, the actual controller of Muyuan Co., , ranks 8th on the Forbes 2020 China Rich List, leaving behind Wang Jianlin , Lei Jun , Liu Qiangdong and other "big guys".

During this period, many pig-raising companies expanded significantly. In the second half of 2021, pork prices fell sharply, and the performance of these companies fell accordingly. Among them, New Hope Liuhe suffered its first loss in 23 years since its listing.

In the article "New Hope's Radical "Pig Raising" Leads to Strong Performance" , we reviewed New Hope's expansion path over the years, and also conducted an in-depth analysis of the "pig cycle" and the pig industry.

09. The introduction of the double reduction policy has brought about major changes in the education and training industry.

"Three children", burden reduction, and anti-involution have received unprecedented attention in the past year.

Under the double reduction policy, the education and training industry is ushering in a big change.In 2020, the epidemic gave birth to a booming online economy, and online education became a major trend that year. But in 2021, online education has entered the winter overnight.

Our colleagues had in-depth exchanges with online education practitioners. They told their own personal experiences: "Yesterday we were still recruiting people, but today they were suddenly disbanded."

Education and training companies have also reached a turning point. New Oriental , once regarded as the industry benchmark, has lost 17 billion in market value in half a year. Yu Minhong has not escaped the hard work after all. is now starting an e-commerce live broadcast to lead the transformation of the company.

(Picture note: Yu Minhong)

In 2022, I hope that these people and companies in transformation can find a way forward.

10, The story of the stock market tycoon’s overturn

In 2021, some of the stock market tycoons who were once all-powerful have all overturned in the farce.

html In March, Ye Fei, a former private equity champion, suddenly revealed that he was "cheated after participating in the market value management of Zhongyuan Home Furnishings", triggering a public outcry. In the next few days, he held several live broadcasts, and while talking and laughing, he broke the news that 18 listed companies were suspected of manipulating stock prices. Dan Bin, Lin Yuan, Dong Baozhen, etc. were all dragged into the water by him.

Later, Ye Fei talked with our colleagues about his growth experience and the stories that happened before and after the revelation. He told us: " I want to be a rich and good man."

This is not the only farce. Private equity giant V Xu Xiaofeng also "overturned" . Through communicating with many people familiar with the matter, we discovered that he was The inside story taken away by the police.

Xu Xiaofeng advertised the 50ETF APP on his Weibo, which caused many investors to be "cut off leeks" by this fraudulent APP.

Through Xu Xiaofeng’s “overturn”, we want to tell everyone: There are thousands of financial experts, and it is difficult to distinguish the true from the false. In the new year, be sure to keep your eyes open, keep your wallet tight, and beware of being deceived.

11. Second-generation succession is in progress: some are happy and some are sad.

The second-generation succession has always been an important moment for an enterprise. The "tearing" between

Wanlong and his son Wan Hongjian allows us to see the embarrassment and contradiction between the first generation entrepreneurs and the second generation.

In June 2021, Wan Hongjian, who was dismissed from various positions, became the "waste prince" of Shuanghui. In July, he began to reveal to the media various "misdeeds" of his father Bandung.

(Picture Note: Bandung)

Abandoned his wife and lived with others; acted arbitrarily; evaded huge amounts of taxes, transferred assets overseas, transferred interests from related parties, etc. There was a strong tendency to send his father to prison.

In contrast, the succession of Wahaha "Princess" Zong Fuli has been brewing for a long time and is very smooth. In December, on the eve of her 40th birthday, Zong Fuli officially became Wahaha’s “second in command”. Before, "young" was a word she often mentioned in various public occasions. In the past few years, she was criticized for not letting Wang Leehom serve as the Wahaha brand spokesperson, but she became a big winner in 2021.

We might as well look forward to 40-year-old Zong Fuli, can she make Wahaha look younger?

12. Medicine is differentiated, and innovative drugs have become a trend

In 2020, under the influence of the epidemic, medicine has become a major trend in the market, creating countless wealth myths. In 2021, as the impact of the epidemic weakens and the impact of policies such as centralized purchasing is superimposed, the pharmaceutical subdivisions begin to differentiate.

The original "No. 1 Pharmaceutical Brother" Hengrui Medicine , the stock price fell by 45% in 2021. In the middle of the year, we once conducted a detailed analysis of Hengrui Pharmaceutical's performance, finance, and reasons for the decline in the article "Behind the 200 billion plunge of "Pharmaceutical No. 1 Brother"" .

Zhifei Biotech, which has made a lot of money by distributing Merck's HPV vaccine, has also been "scrolled" by the rapid progress of domestic HPV vaccines. its market value has dropped by 160 billion yuan in half a year..

Forced by centralized procurement, innovative research and development has become the only choice for domestic pharmaceutical companies. Innovative drugs are therefore regarded by many as the "long-term main line" in the pharmaceutical field.

BeiGene , which makes innovative anti-cancer drugs, has never made a profit in the 11 years since its establishment. It has lost nearly 30 billion yuan in the past three years, but has not affected investors' pursuit of at all.

In the last two days of 2021, the State Food and Drug Administration and other 8 departments issued the "Plan", proposing to speed up the launch of innovative drugs with clinical value, sending a New Year gift to the industry.

13. The Metaverse is born, and the digital world is accelerating changes.

In 2021, the capital market will also usher in a super hot outlet - the Metaverse.

metaverse, a virtual world that coexists in parallel with the real world and integrates with each other. Many industry insiders said: The era of the Metaverse is bound to come, and it may not be too far away. The establishment of the

metaverse not only requires the maturity and popularization of a series of technologies such as VR and 5G, but also requires how to establish an economic system and cultural ecology in the virtual world, and how to balance the virtual and real worlds. The latter is more complicated than technology, and if it is not handled well, the metaverse is a nightmare.

For most people, the metaverse is already mind-burning. Unexpectedly, a new concept has appeared in the digital world: NFT. In the article "NFT, the most brain-burning wealth adventure this year" , we introduced in detail what NFT is and what its value and risks are.

14. Major anchors were fined, and the live broadcasting industry has reached an inflection point

In the last two months of 2021, two major anchors, Xueli and Weiya, were fined for tax evasion.

We explained in detail how they evade taxes in the article "Sydneys Don't Make Enough Money" : by establishing a sole proprietorship, the income that should be regarded as labor remuneration is converted into corporate income. By changing the nature of income, lowering the tax rate or concealing income, the purpose of tax avoidance is achieved.

html The fine of 31.341 billion yuan has given us a glimpse of Wei Ya’s earning power and the extent of her ambition. Through the company Qianxun Culture, Wei Ya and his wife have almost laid out the entire industry chain of live streaming.

(Picture note: Wei Ya)

In the barbaric growth stage of the industry, top anchors such as Xue Li and Wei Ya took the opportunity to make a lot of money. They were fined one after another, which also indicates that the live streaming industry has reached a stage of standardization.

Not surprisingly, we will see more changes in this industry in 2022, such as brand self-broadcasting, major anchors being diverted, and competition between several major platforms. We will continue to pay attention to this.

15, Characteristic Towns

There are many magical towns in our country. For example, more than half of the violins in the world come from Huangqiao Town, Jiangsu; on overseas platforms, a wig made in China is bought every two seconds. They all come from Lingjing Town, Xuchang, Henan.

These small towns are tiny samples of China’s manufacturing capabilities. Behind them are not only sentiments, but also a deep understanding of niche industries.

In 2021, we and Tencent Finance jointly produced the "Magic Town" series.

In Guanyun, a small town in northern Jiangsu Province, we saw the local sexy underwear industry. It accounts for most of the global sexy underwear market, providing job opportunities for locals while also exploring the road to industrial upgrading.

Hengdian also left our footprints.Here, we see the rise of short videos, group performers, Internet celebrities and other celebrities are once again rushing to Hengdian, which is more lively than before.

Two-thirds of the country’s film and television dramas are filmed in Hengdian. It does not reject dreamers, nor does it reject new business stories.

Without the existence of Maotai Group , Maotai Town might be a poor place. In recent years, Kweichow Moutai has made the entire sauce wine category popular. Following this, capital has poured in, and Moutai Town has become increasingly popular. In July, we went to Maotai Town and found that there was no life here, only business.

16, Conclusion

In 2021, the world we live in has undergone many changes.

Changes in the era and industry are no small challenges for every specific person. However, as the old saying goes, "if changes, it will lead to ." Opportunities always come with challenges.

In the well-known and profitable capital market, there is no shortage of stories, no shortage of investment opportunities, and of course, no shortage of minefields. Next, the city community hopes to continue to work with you to peel off the cocoons, understand the truth and essence of important events in the capital market, avoid the ravines on the road ahead, and meet a better self.

2022, we continue to be together.

(Unless the source is separately marked, the above pictures are from Visual China)

( author丨Qi Minqian, editor丨Liu Xiaoying)