Tan siliang said in an internal letter that at the beginning of the year, the company’s annual goal was to achieve break even and make products more attractive. Although the profit and loss balance has not been reached yet, the loss has been greatly narrowed; the uncertain advertising industry environment and higher requirements for advertising quality pose further challenges to the company’s profitability in the second half of the year, which requires the company to continue to make greater efforts on the cash level in the second half of the year, and on the other hand, continue to attract more through content rather than gold coins Attract users and enhance content attraction, so as to further reduce the cost of gold coin maintenance and customer acquisition. The internal letter mentioned that in the second half of the year, in addition to continuing to improve liquidity, the core focus of the work will be on content breakthrough. For this reason, four adjustments will be made at the organizational level of interest headlines: < / P > < p > after the reorganization, the front desk will be composed of three Bu’s (short content, rice reading and games) and an innovation center. The middle stage will be composed of advertising and growth, technology, algorithm and data. The big structure of the backstage remains unchanged. Tan siliang said that this is the third structural adjustment of the company since its establishment. The past facts have proved that it is not easy to develop organizational strength, but it is a correct thing. (bayberry) < / P > < p > looking back on the challenging and rapidly changing first half of the year, there are some improvements and many shortcomings. At the beginning of the year, our goal for the year was to break even and make our products more attractive. < / P > < p > on the first goal (to achieve profit as soon as possible), though we have not reached the break even point, we have narrowed our losses by a large margin, which is a good progress under everyone’s efforts. However, the uncertain environment of the advertising industry and higher requirements for advertising quality pose further challenges to our profitability in the second half of the year, In the second half of the year, we need to continue to make greater efforts at the cash level (at the same time, strengthen advertising audit and technical investment to ensure the quality of advertising). On the other hand, we must continue to attract users through content rather than gold coins, so as to further reduce our gold coin maintenance costs and customer acquisition costs. < / P > < p > in terms of the second goal (breakthrough in content, making the product more attractive), Midu has achieved a second step after stepping through the traffic snatching stage of happy horse enclosure, leading peers in the cultivation of original content. It has not only signed a number of high-quality authors, but also attracted more and more users by virtue of its excellent original works; in addition, innovative attempts such as adapting short dramas from online articles also attracted more and more users very fruitful. However, we have not made a breakthrough in the short content level of the main business position. Although the content quality and recommendation algorithm have been improved steadily, the precipitation and innovation breakthrough of content (and its distribution ability) are still far behind the competitors in the head. Generally speaking, in the second half of the year, in addition to continuing to improve liquidity, the core focus of our work will be on content breakthrough. In order to better focus, we have made the following adjustments to the organizational level: < / P > < p > after the reorganization, the front desk will be composed of three Bu’s, namely short content, rice reading and games, and one innovation center. The middle stage will be composed of advertising and growth, technology, algorithm and data. The big structure of the backstage remains unchanged. < / P > < p > another focus of our work this year is to improve the health of the organization and the efficiency of the whole company. In 2018, we divided the whole organization into front, middle and back office. The division of labor at that time improved the efficiency and professionalism of the organization, established a middle and back office structure that can ensure the efficient implementation of our innovation projects, and built a growth and commercialization platform that can be comparable to the head. However, the separation of the front, middle and back office also causes some problems, which makes the middle and back office colleagues relatively far away from the front office business and weakens the entrepreneurial atmosphere of the whole organization striving for a goal. < / P > < p > in order to make up for this, in the second half of the year, we will promote some measures to better integrate the middle and back office business teams with the front office business teams, so that we can operate more agile and respond to changes in environment and user requirements in real time. The core principle here is to hope that the students in the middle and back office can move forward to the front-line battlefield where the sound of gunfire can be heard. Just like when starting a business, they will work hand in hand with the front desk business students, and always maintain a quick reaction speed and efficient execution. Specific measures will include supporting the front office colleagues in the middle and back office to ensure that they share the same performance target, and sit together with the front office business team. < / P > < p > in addition, we are working out an all member stock ownership plan. We hope that through full shareholding, every student can pay and have a return, so that each student is closely related to the development of the company and share weal and woe with the future of the company. This is the third structural adjustment of the company since its establishment. The past facts have proved that it is not easy to develop organizational strength, but it is a correct thing. Thanks to the past two rapid but painful adjustments, we jointly broke the bottleneck of 10 million daily living in early 2018, and quickly crossed the development platform period in 2019. This time, our goal is still clear, that is to make our products attractive to a higher level, so that users come because of the content and stay because of the content they like. I firmly believe that only deep cultivation of content is the decisive factor to attract and retain users, and only by deeply cultivating content can we really get rid of flow anxiety, and let us gradually bid farewell to losses and truly realize long-term, sustainable and healthy development. < p > < p > finally, I would like to put forward to all the small partners who are interested in the headlines: please forget the past achievements and regain the entrepreneurial mentality! Today, the competition in the industry is becoming more and more fierce, and Matthew effect is becoming stronger and stronger. We need to treat ourselves as entrepreneurs starting from 0. We should have the spirit of fighting back to back and be prepared to fight a protracted war. Only in this way can we have a breakthrough and stick to the blooming clouds and bright moon and warm spring flowers!