Group 1 - The National Taxation Administration will introduce tax reform and development during the "14th Five-Year Plan" period in a press conference [1] - The Ministry of Transport will hold a press conference to discuss the protection of legal rights for truck drivers [2] - The National Health Commission will promote the Sanming medical reform experience and deepen public hospital reform in a press conference [3] Group 2 - A total of 350.8 billion yuan worth of restricted shares will be unlocked today, with 21 companies involved and a total of 1.417 billion shares released [4] - Nine companies have over 10 million shares unlocked, with Copper Crown Copper Foil, Shanghai Electric, and Luguan Technology leading in unlock volume [4] - The unlocking value for Copper Crown Copper Foil, Luguan Technology, and Yidong Electronics is 125.4 billion yuan, 85.29 billion yuan, and 33.96 billion yuan respectively [4] - Eight companies have an unlocking ratio exceeding 10%, with Copper Crown Copper Foil, Jun Cheng Technology, and Yidong Electronics having the highest ratios of 72.38%, 71.28%, and 60.55% respectively [4] Group 3 - 170.7 billion yuan of 7-day reverse repos will mature today, with an operation rate of 1.40% [5]

Core Viewpoint - The exhibition "Zhang Liying: Where the Heart is at Peace" will showcase the comprehensive artistic journey of Zhang Liying, a significant figure in Singapore's modern art history, from August 9 to December 7, 2025, at the He Xiangning Art Museum [1][2] Group 1 - The exhibition will feature 62 selected works, systematically tracing Zhang Liying's artistic trajectory from the 1930s to the 1970s, highlighting her experiences and cultural dialogues across various international cities [2] - Zhang Liying, born into a wealthy family and the daughter of prominent politician Zhang Jingjiang, had a life marked by cultural exchanges, marrying diplomat Eugene Chen and living in cities like Shanghai, Paris, New York, Hong Kong, and Singapore [1] - The exhibition aims to provide viewers with insights into Zhang Liying's vibrant life and her commitment to depicting the essence of people's lives through her art [1]

Core Viewpoint - Jiangsu Zhonghui Biotechnology Co., Ltd. has submitted a new prospectus for its IPO, highlighting that it currently has only one commercialized vaccine, which is facing intense market competition and has not yet achieved annual profitability [1][5]. Company Summary - Zhonghui Biotechnology has only one commercialized product, a quadrivalent influenza virus subunit vaccine, which was launched in May 2023 and is the only approved quadrivalent influenza subunit vaccine in China [2]. - The company has two core products: the quadrivalent influenza vaccine and a freeze-dried rabies vaccine, along with 11 other products in development [1][2]. - The company has raised over 1 billion yuan in multiple financing rounds, with the latest post-investment valuation at approximately 4.189 billion yuan [1]. Financial Performance - The financial data shows that Zhonghui Biotechnology has been operating at a loss, with revenues of 52 million yuan, 260 million yuan, and 413,000 yuan for the first three months of 2023, 2024, and 2025 respectively, and corresponding net losses of 425 million yuan, 259 million yuan, and 87 million yuan [2]. Market Competition - The domestic market for influenza vaccines is highly competitive, with 26 types of influenza vaccines already on the market, including 12 quadrivalent vaccines [3]. - The average bidding price for influenza vaccines has decreased significantly, from 126 yuan per dose in 2022 to 93 yuan per dose in 2024, indicating price pressure in the market [3]. - In the rabies vaccine sector, there are 23 types of rabies vaccines available, with 20 more in clinical development, suggesting a crowded market for Zhonghui's rabies vaccine as well [4].

Core Insights - The article discusses the importance of emotional resonance in building urban cultural tourism brands, particularly among young consumers, emphasizing the role of quality IP content in creating lasting commercial value and city influence [1][2] Group 1: Emotional Resonance and IP - The core driving force for contemporary young travelers is "spiritual necessity," highlighting the critical role of emotional resonance in urban cultural tourism brand development [2] - The case study of the show "Planting Land" illustrates how quality IP can serve as an emotional entry point for young users, achieving high ratings and transforming a location into a popular destination [2] Group 2: Innovative Marketing Strategies - The company employs an "open-loop ecosystem" marketing strategy, utilizing a content matrix of long videos, short videos, and live broadcasts to maximize IP value [2] - The "518 Love Day" event, derived from the "Planting Land" series, exemplifies how IP can create commercial value by linking multiple enterprises [2] Group 3: IP as a City Brand - Quality IP can act as a "city business card," telling urban stories and serving as a "traffic password" for effective communication [2] - The company aims to achieve long-term retention of audience engagement through new business formats like offline parks and immersive theaters [2] Group 4: Advertising Innovations - The company has launched an upgraded advertising platform called "Qiju," which integrates brand and performance advertising to enhance the efficiency of quality traffic monetization [3] - Innovative technologies such as AI-driven content integration are being utilized to improve advertising effectiveness and user experience [3] Group 5: Strategic Planning in Content Marketing - The company is focused on a "long + short" content ecosystem, maintaining its core strength in long videos while expanding into short-form content to meet diverse consumer needs [5] - The strategy includes breaking down IP into various formats and leveraging different media channels for rapid content iteration and user interaction [5]

Core Insights - The article emphasizes the concept of "reframing" as a powerful tool for enhancing psychological resilience and emotional control [1][3][4] Group 1: Psychological Insights - Research indicates that the human brain generates approximately 60,000 thoughts daily, with 80% of them being negative, influencing emotional states and behaviors [2] - The ability to change the interpretation of events can lead to a significant shift in emotional responses, demonstrating the impact of perspective on feelings [3] Group 2: Practical Techniques - The first technique involves labeling thoughts to pause negative emotions, using a three-step method: recognizing the emotion, naming the thought, and questioning its validity [4] - The second technique is perspective shifting, encouraging individuals to consider the long-term importance of a situation and how a mentor might approach it [5] - The third technique is language reframing, which involves changing negative statements into positive affirmations to foster a constructive mindset [5]

Core Idea - The article emphasizes the importance of setting psychological boundaries and the challenges individuals face when trying to say "no" effectively, advocating for a firm and clear approach to refusal. Group 1: Psychological Barriers to Saying "No" - Many individuals struggle to say "no" and often respond with vague terms like "maybe" or "I'll try," which leads to increased demands on their time and energy [1][2] - Three deep-seated fears contribute to this difficulty: fear of conflict, fear of self-worth, and fear of losing control [2][3] Group 2: Characteristics of Effective Refusal - A strong refusal should have three key elements: clarity, impermeability, and self-determination [3][4][5] - Clarity involves delivering a straightforward message without ambiguity, which helps reduce anxiety for both parties [3] - Impermeability means that the refusal should not be seen as a starting point for negotiation, maintaining the integrity of the boundary [4] - Self-determination highlights that saying "no" is about protecting what is truly important, rather than being confrontational [5] Group 3: Practical Exercises for Setting Boundaries - The article suggests practical exercises to help individuals practice saying "no" more effectively, such as giving specific forms to refusals, visualizing potential outcomes, and starting with small boundary-setting actions [5][6][7] - These exercises aim to build confidence in asserting boundaries and recognizing that true kindness involves having strong boundaries [7]

Core Insights - The exhibition, in collaboration with The Institutum in Singapore, features four artists from different generations exploring themes of identity, migration, and cultural memory in Southeast Asia [1][2] - The event serves as a cultural bridge, allowing for a dialogue between the experiences of 70s and 90s generation artists, enriching the discussion on identity and migration [1] - The artists employ various artistic practices, including painting, installation, and video, to reflect the complexities of identity and emotional trajectories within the context of migration [1][2] Event Details - Exhibition Duration: July 2 - September 6 [3] - Curators: Wells Fray-Smith, Clara Che Wei Peh [3] - Location: Tina Kim Gallery [3]

Core Insights - The competition among food delivery platforms has intensified, with Alibaba's Taobao Shanguo launching a 500 billion yuan subsidy campaign, leading to market chaos and concerns about contradicting central government principles of "anti-involution" [2] - The State Administration for Market Regulation intervened by discussing with major platforms like Ele.me, Meituan, and JD.com to halt the aggressive competition [2] - The focus of this competition has shifted from food delivery to instant retail, indicating a new market development rather than just price wars [3][4] Instant Retail Market Dynamics - Instant retail is seen as a strategic opportunity for platforms to transform and capture consumer habits, moving beyond short-term traffic to long-term engagement [4] - The instant retail market is experiencing rapid growth, with a compound annual growth rate of 30%, while the food delivery market is nearing saturation [5][10] - Instant retail's model of "online ordering + local supply + instant delivery" caters to the increasing demand for immediate consumption, reflecting a shift in consumer behavior towards convenience and speed [5][6] Market Expansion and Consumer Behavior - Instant retail platforms have seen a significant increase in user loyalty, with loyal users rising from 24% in 2023 to 46% in 2024 [5] - The market for instant retail is expanding beyond traditional categories, with a notable increase in demand for fresh produce, pharmaceuticals, and other immediate needs [8][10] - The coverage area of instant retail platforms has expanded significantly, increasing potential consumer reach and business opportunities [9] Competitive Landscape - The competitive landscape includes both comprehensive platforms (e.g., Taobao Shanguo, JD Instant Delivery) and vertical platforms focusing on specific categories (e.g., Hema for fresh produce) [8] - The current market dynamics indicate a shift towards a more integrated ecosystem where platforms leverage their existing resources to enhance service delivery [3][8] Regulatory and Strategic Recommendations - To foster healthy competition, it is essential to encourage market development while ensuring fair practices and protecting small merchants [11][12] - Subsidy strategies should be transparent and not burden merchants, focusing on enhancing product quality and consumer experience rather than solely competing on price [12][13] - Platforms should prioritize high-quality products and consumer satisfaction to retain users in a low-switching-cost environment [12][13]

从季度表现来看，大众二季度营业利润为38亿欧元，同比下滑近三成；营收为808亿欧元，略低于市场 普遍预期。利润结构出现变化，一方面受到重组成本增加的拖累，另一方面也与电动车销量上升带来的 毛利率下降有关。 面对外部冲击，大众管理层提出的新目标之一是到2030年压缩超过3.5万个岗位，以优化固定成本结 构。这一调整原本着眼于电动化转型，如今也成为抵御贸易摩擦风险的应急方案。 与此同时，欧洲方面正试图通过谈判争取关税回调至10%。如果协商成功，大众的利润率有望回升至 4.5%左右。大众多位高管透露，当前正与欧盟贸易代表密切协作，强调欧洲车企在美国投资、就业和 技术贡献的整体价值，试图为汽车板块争取豁免或减免关税的空间。 （原标题：大众汽车因美国关税大幅下调全年利润指引） 7月25日讯，在经历了一个充满不确定性的上半年后，大众下调了全年利润率和营收增长预期。7月25日 发布的最新财报显示，美国加征的汽车关税已造成大约13亿欧元（约合15亿美元）的直接成本，成为影 响上半年表现的核心因素。 大众的利润率预期由此前的5.5%至6.5%区间，调整至4%至5%；原本设定为增长最多5%的全年销售预 期也不再维持增长目标，改为 ...

Group 1 - Mobileye raised its revenue forecast for fiscal year 2025 to between $1.777 billion and $1.89 billion, up from the previous estimate of $1.7 billion to $1.81 billion, driven by strong demand for autonomous driving chips [2] - In Q2, Mobileye reported revenue of $506 million, exceeding analyst expectations of $481 million, indicating a recovery in chip supply and demand since April 2025, particularly in the Advanced Driver Assistance Systems (ADAS) sector [2] - The company anticipates a more positive growth outlook for the second half of 2025 as automakers resume demand for autonomous driving chips following inventory adjustments, despite remaining cautious about macroeconomic risks [2] Group 2 - Mobileye expects 2027 to be a key growth period, with large-scale commercialization of its EyeQ chip architecture for autonomous driving technology, as multiple automakers plan to launch new models featuring Mobileye SuperVision and Chauffer platforms between 2026 and 2027 [3] - The recent U.S. government tariffs on automobiles and parts are expected to have a limited impact on Mobileye, as most of its chip products are imported directly from Israel by automakers, although potential cost increases could indirectly affect chip demand [3] - Overall, Mobileye's revenue growth outlook reflects a strong recovery in global demand for autonomous driving technology, with the company poised for significant growth in the coming years due to its technological advantages in the ADAS field [3]