【文/观察者网 潘昱辰 编辑/高莘】7月22日，通用汽车披露2025年第二季度财报。数据显示，第二季度 通用汽车营收为471.2亿美元（约合人民币3375亿元），同比下降1.8%；股东应占净利润为19亿美元 （约合人民币136亿元），同比下降35.4%；调整后息税前利润为30.4亿美元（约合人民币217.8亿 元），同比下降31.6%；调整后每股收益2.53美元（约合人民币18元），同比下降17.3%。 通用汽车 视觉中国 此外，通用汽车对全年核心利润预期仍维持在100亿-125亿美元（约合人民币716亿-895亿元）之间，但 警告称第三季度关税压力将进一步加剧，全年可能因此损失40亿-50亿美元（约合人民币286.5亿-358亿 元）的利润。 今年4月，美国政府对进口汽车加征25%关税的政策正式生效；5月初，对进口汽车零部件加征25%关税 的措施也正式生效。 为降低关税风险，通用汽车董事长玛丽·博拉(Mary Barra)在致股东的信中表示，公司将增加40亿美元 （约合人民币286.5亿元）的投资在美国生产汽车，并将通过调整生产、有针对性的成本控制和一致定 价，将关税导致的预期成本降低至少30%。 财报数据 ...

Core Insights - Huawei has launched the Pura80 digital version, which will officially go on sale on July 30, with a starting price of 4699 yuan, representing an 800 yuan decrease compared to the previous generation [1][3] - The smartphone market is facing increased competition, particularly in the 4000 yuan price range, with several brands including Apple and Xiaomi also adopting price reduction strategies [3][4] - The overall smartphone market in China has seen a decline in shipments, with a 4.0% year-on-year drop in Q2 2025, marking the end of six consecutive quarters of growth [3][4] Huawei's Market Position - Huawei regained the top position in China's smartphone shipments for the first time in four years, despite a 3.4% year-on-year decline in total shipments [3][4] - In Q2 2025, Huawei's market share was 18.1%, with shipments of 12.5 million units, while competitors like Vivo and OPPO experienced larger declines [4][5] - Huawei's high-end smartphone market remains strong, with a 69% year-on-year increase in shipments for devices priced above 600 USD, capturing 38% of that market segment [6] Market Dynamics - The smartphone market is under pressure due to low consumer confidence and extended replacement cycles, leading to a challenging environment for all brands [5][6] - Analysts predict that without significant new demand, Huawei's growth may slow down, potentially leading to single-digit growth or slight declines in the Chinese market [5] - The success of Huawei's HarmonyOS ecosystem is crucial for its long-term competitiveness against Apple, although it currently faces challenges with software bugs and incomplete functionalities [5][6]

Core Viewpoint - Amazon Web Services (AWS) has reportedly disbanded its Shanghai AI Research Institute due to strategic adjustments between the US and China, marking the end of its last overseas research center [1][4]. Group 1: Company Actions - The disbandment was confirmed by a post from the chief application scientist, Wang Minjie, who noted the decision was influenced by strategic changes [1]. - AWS had over 1,000 employees at its peak in China, although the exact number affected by this disbandment remains unclear [1]. - Amazon's spokesperson stated that the decision to streamline certain teams was difficult but necessary for continued investment and resource optimization [4]. Group 2: Research Institute Background - The Shanghai AI Research Institute was established on September 17, 2018, during the World Artificial Intelligence Conference and was part of AWS's machine learning division [5]. - The institute focused on developing open-source projects, particularly the popular Deep Graph Library (DGL), and engaged in foundational research in graph neural networks (GNNs) [5]. - Zhang Zheng, a professor from NYU Shanghai, was the first director of the institute and has extensive experience in distributed computing and machine learning [5]. Group 3: Broader Industry Context - Reports indicated that Amazon is cutting hundreds of jobs within its cloud computing division, which is part of a broader trend among tech giants like IBM and Microsoft adjusting their R&D operations in China [6][7]. - AWS has faced challenges, with its revenue growth slowing for three consecutive quarters, reporting a 17% year-over-year increase to $29.27 billion, which is below expectations and lower than competitors like Microsoft and Google [6].

7月18日，复旦大学经济学院联合复旦大学国际金融研究中心、复旦大学绿色金融研究中心举办"稳定币 的商业机遇：来自业界的声音"南土国际金融政策圆桌会。此次会议是复旦大学围绕稳定币主题开展的 第三场专题研讨，汇聚了金融学界、区块链产业、金融机构等领域的十余位专家，深入探讨稳定币在全 球金融格局中的发展现状、商业潜力及监管挑战。 殷剑峰特别提到，中国庞大的工业互联网基础为资产代币化提供了独特场景，若能实现链下资产数据与 链上的有效映射，制造业的物流、信息流与资金流有望实现全链条数字化革新，推动Web3.0在实体经 济中快速落地。 殷剑峰指出，它类似货币市场基金，但最大的缺陷在于缺少最后贷款人支持。而目前美国的GEIUS法案 和香港《稳定币条例》，都没给稳定币发行机构这样的支持。他认为，三五年内，稳定币领域很有可能 会出现重大变局。 以下为殷剑峰发言全文（已经发言人审定）： 我研究稳定币问题期间，读了大量国际清算银行（BIS）的研究报告，今天和大家分享一些体会。 我认为，现在讨论稳定币必须清楚一点：稳定币只是资产代币化（RWA）这个大叙事中的一小部分。 所谓资产代币化的概念，就是将资产转化为代币（token）的过程， ...

【文/观察者网 王一】随着美国总统特朗普用关税向欧盟步步紧逼，欧盟正重新思考对华关系，同时中 国资本在欧洲的角色也在悄然转型。 美国彭博社7月23日发文称，曾几何时，中国资本热衷于收购欧洲的港口、电网等基础设施，多年来为 从德国工业到意大利足球等几乎所有领域提供资金；而如今，中国投资已向价值链上游转移，聚焦于电 动汽车及其电池等绿地投资。 今年年初，中国电池制造商中创新航（CALB）的首座海外电池工厂在葡萄牙锡尼什市正式开工。据报 道，该工厂耗资约20亿欧元（约合168亿元人民币），承诺创造1800个就业岗位。 与现在自己搭建工厂不同，中企此前多年专注于购买欧洲的港口、电网等基础设施，投资领域覆盖德国 工厂、意大利足球等广泛领域。中国长江三峡集团2011年以26.9亿欧元收购了葡萄牙电力公司21%的股 份，复星旅游文化集团2015年收购了法国度假村品牌地中海俱乐部，苏宁2016年并购国际米兰俱乐 部…… "多年来，中国资本为从德国工业到意大利足球的一切领域提供了资金。"彭博社指出，现在中国改变了 策略，不再像以往那样不理智地把钱投入足球俱乐部，而是更青睐电动汽车、电池等重点产业，投资对 象和地理重点也在发生变 ...

而为了构建慢思考能力，夸克在研发过程中采用了"双数据产线+双奖励机制"的工程体系。一方面，将 医学数据划分为"可验证"和"不可验证"两类，分别对应诊断类任务和健康建议类任务；另一方面，在训 练方法上引入"过程奖励模型"和"结果奖励模型"，分别评估模型推理链的合理性与最终结论的准确性， 提升模型的临床可解释性和推理一致性。 该体系还设计了多阶段强化学习流程，包括冷启动数据的严格人工校验、多轮样本筛选与难度递进训练 策略，以及用于防止"高分投机"的作弊识别机制。通过真实医生标注、"问—思—答"整组数据驱动强化 学习。 数据显示，夸克健康大模型已拥有千人规模的专业医师标注团队，其中超过400名均为副主任医师及以 上的高资历医疗专家。并且，夸克AI搜索还吸引了一大批医学生和医生群体用户。夸克健康运营负责 人赵存忠透露，目前平台在全国医学生中月活用户已突破200万，覆盖率过半，他们使用夸克用于基础 知识搜索、考试备考和临床辅助诊疗。 7月23日，观察者网获悉，夸克健康大模型成功通过中国12门核心学科的主任医师笔试评测，成为国内 首个完成这一挑战的大模型。目前，"主任级AI医生"能力已全面集成至夸克的AI搜索中，用户在查 ...

Core Viewpoint - The rapid development of stablecoins may exacerbate the shortage of U.S. Treasury bonds, impacting global financial stability, and China should promote its bonds as a global safe asset to enhance the international status of the Renminbi and facilitate its internationalization [1][2][12]. Group 1: Stablecoins and Their Characteristics - Stablecoins are designed to improve upon cryptocurrencies like Bitcoin, but they fail to meet the three essential characteristics of money: singularity, elasticity, and integrity [1][8]. - The current form of stablecoins is primarily backed by sovereign currencies, particularly U.S. short-term Treasury bonds, which are similar to money market funds [1][6][7]. Group 2: Challenges and Shortages - The growth of stablecoins creates an inherent contradiction due to the shortage of global safe assets, especially U.S. Treasury bonds, leading to increased demand and higher prices for these bonds [2][9]. - This shortage is reminiscent of historical financial crises, such as the "National Banking Era" in the U.S. and the failures of shadow banking before 2008, where the scarcity of underlying safe collateral was a fundamental issue [2][10]. Group 3: Implications for China - To address the global shortage of safe assets, China should expedite the process of making its bonds a global safe asset, which would also support the internationalization of the Renminbi [2][19]. - The development of Chinese Treasury bonds is crucial for enhancing the Renminbi's status and providing a secure asset for international investors [20].

近期，微信悄然开启了一项实用新功能的灰度测试，部分用户发现聊天界面新增了语音自动转文字并发送的便捷功能。 相关话题冲上微博热搜第一。 据用户反馈，在聊天框右侧的功能区中，多出了一个专门的语音输入按钮。点击该按钮后，按钮会变为醒目的绿色，此时用户说出的内容能被实时转换成 文字显示在输入框中。 此外，当用户完成语音输入后，只需连续说出"over over"这一指令，系统就会自动将转换好的文字消息发送出去，全程无需手动点击发送按钮。 对于双手忙碌或不便触屏的场景来说，这项功能显得尤为实用，例如开车、做饭时的场景可快速回复消息，尤其适合短句沟通。 不过目前该功能仍处于测试阶段，仅向小部分用户开放体验权限。 许多网友评价道："脑补地铁里全是'over over'的场景，太欢乐啦。"也有网友调侃道，"感觉自己像在用对讲机"、"像执行秘密任务"。 根据微博@财经网科技 发起的"你还希望微信更新哪些功能？ "的相关投票结果显示：在38008名参与者中，52.5%的网友希望微信更新好友单删微信提醒 功能；28.5%的网友希望微信更新朋友圈内容可编辑功能；10.3%的网友希望微信更新取消拍一拍功能；其他部分网友则希望微信更新可发 ...

Group 1 - UBI Research reports a projected 70% increase in global OLED panel shipments in Q3 due to the mass production of the iPhone 17 series [1][3] - LG Display held a 21.3% share of iPhone panel shipments in Q2, falling behind BOE's 22.7%, while Samsung Display maintained a leading position with 56% [1][3] - LG Display exclusively supplies small to medium-sized OLED panels for Apple's iPhone Pro series, which are priced higher than the LTPS panels provided by BOE for standard iPhone models [3][4] Group 2 - LG Display's iPhone panel shipments are expected to reach approximately 18.5 million units in Q3, a 70% increase from Q2, and exceed 25 million units in Q4 [3][4] - BOE is primarily supplying OLED screens for Apple's base model iPhone 16e and plans to expand its share across Apple's entire product line [3][4] - UBI Research anticipates a rebound in iPad panel shipments, with Q3 expected to double from 800,000 units in Q2 to 1.6 million units [4] Group 3 - UBI Research forecasts that LG Display will capture over 30% of the total iPhone OLED panel shipments by 2025 [4] - Omdia predicts BOE will become the largest panel supplier for Apple's MacBook by 2025, with a projected share of 51% [6][7] - LG Display's share of MacBook panel supply is expected to decline to 35% by 2025, a decrease of 9% from 2024, with a projected supply drop of 12.2% to 8.48 million units [6][7]

Core Insights - The partnership between China Unicom and Haiguang Information has evolved from technical adaptation to joint innovation, focusing on creating a "virtualization + cloud-native" dual-engine cloud foundation [3] - The collaboration aims to establish a benchmark for domestic transformation in the telecommunications industry, with Haiguang's processors meeting the high standards for cloud platform capabilities and security [4] - The integrated cloud computing platform developed by both companies achieves hybrid deployment and full-stack domestic integration, enhancing system throughput and network forwarding performance [4] Group 1 - The partnership showcases a deep collaboration in areas such as cloud integration, government cloud construction, and industry digital transformation [1] - Haiguang's processors are designed to address the increasing demands for cloud platform capabilities and security from both internal and external users of China Unicom [4] - The "cloud-network-data-intelligence-edge-end" integrated business matrix constructed by Haiguang provides comprehensive support from cloud to terminal, addressing compatibility and migration cost issues in domestic transformation [5] Group 2 - The collaboration extends to artificial intelligence, with the launch of an intelligent computing machine that integrates Haiguang's chips with Tianyi Cloud's AI applications, enabling rapid deployment and operational efficiency [5] - Haiguang's high-performance and secure characteristics are applied in emerging scenarios such as network visualization and low-altitude economy, ensuring comprehensive coverage from traditional to new business areas [6] - The partnership emphasizes the importance of building a self-controllable computing foundation for the telecommunications industry [6]