在2025年数博会期间，《中国经营报》记者专访了中国科学院院士、清华大学教授陈松蹊。他表示，目 前急需组织科学家以公共视野和科学眼光推动高质量数据集建设。 他说道："中国已经具备了建立高质量数据集的能力和研究实力。从科学观测角度看，我们有自己的观 测数据以及国际的观测数据。从统计学角度而言，我们也已经完全做好了准备。" 无论是学理层面，还是应用场景方面，中国都不逊色于其他国家。"基于这样的实力，我们完全有能力 开展高质量科学数据集相关工作。"陈松蹊说。 记者了解到，陈松蹊团队已经在海洋高质量数据集建设上实现了突破，测试结果达到甚至优于国际水 平，他表示："我在积极呼吁构建高质量的科学数据集，也在身体力行参与其中，贡献自己的力量。" 《中国经营报》：在超高维大数据统计分析领域，你提出了创新的假设检验方法。如今随着数据量呈指 数级增长，维度愈加复杂，在处理这些"超维"大数据时，现有方法面临哪些新挑战？你认为未来的研究 应如何突破，才能实现更高效、精准的分析？ 陈松蹊：传统数据维度较低，统计学中的多元分析多针对固定维度、样本量较大的情况。2000年"人类 基因组计划"之后，超高维问题逐渐凸显。例如在寻找致病基因时， ...

今年9月是首个法定"全国科普月"。自9月1日起，一场全民参与、共享共建的科普盛宴全面展开。 中国科协党组副书记、副主席冯身洪介绍，自2003年以来，中国科协联合相关部门已连续举办22届全国 科普日活动。去年，新修订的《科学技术普及法》将"科普日"升级为"科普月"，明确每年9月为全国科 普月。这一举措有助于增进全民科学素质，对深入实施科教兴国、人才强国和创新驱动发展战略意义深 远。 目前，中国科协作为全民科学素质行动的牵头单位，正会同纲要办成员单位谋划"十五五"时期工作。冯 身洪表示，下一步将着力加强前沿性和普惠性科普资源供给，加快推进人工智能等新技术在科普工作中 的深度应用，推动形成社会化科普新格局。 公民科学素质水平大幅提升 "十四五"以来，我国公民科学素质建设取得显著成效，科普制度体系逐步完善。 冯身洪介绍，新修订的《科学技术普及法》为新时代科普事业发展和科技强国建设提供了有力保障。 《全民科学素质行动规划纲要（2021—2035年）》明确了2035年全民科学素质提升的目标。在"十五 五"谋划过程中，中国科协等部门正在制定相应实施方案。 9月4日，《中国经营报》记者从国新办新闻发布会获悉，今年科普月期间， ...

Core Viewpoint - The integration of intelligent robots, low-altitude flight, and smart automotive industries is characterized by technological synergy, shared elements, and application fusion, which can address challenges such as technological collaboration deficits, fragmented scenarios, and the lack of cross-domain standards, potentially leading to an optimal solution for the development of the intelligent industry and guiding global AI technology and application advancements [1]. Group 1: Conference Overview - The first Aggregated Intelligent Industry Development Conference will be held on September 16-17, 2025, in Optics Valley, focusing on the theme of "Collaborative Fusion of Innovation Chains and Industry Chains to Promote Aggregated Intelligent Industry Development" [1]. - The conference will feature a general assembly and a closed-door meeting, with representatives from government departments, industry organizations, academic institutions, and leading enterprises engaging in in-depth discussions and cross-domain exchanges [1]. Group 2: Morning Session Topics - The morning session will include a forum on building an efficient and collaborative aggregated intelligent industry chain, addressing key questions such as how to create a scalable and high-quality industry chain and the differences in requirements and technical routes for common electric and intelligent components across different terminals [2]. - Additional discussions will focus on resolving cost, reliability, certification standards, and protocol issues in the supply chain for the integration of intelligent robots, low-altitude flight, and smart automotive applications [2]. Group 3: Afternoon Session Topics - The afternoon session will center on promoting the application and industrialization of aggregated intelligent innovation technologies, covering topics such as identifying the latest technology trends in the field, developing classification standards for intelligent robots, and addressing early-stage data cold start issues [3]. - The forum will also explore the construction of an open-source system for aggregated intelligence and the development of a new integrated transportation system focused on autonomous driving and low-altitude applications [3]. Group 4: Closed-Door Meeting Focus - On September 16, a closed-door meeting will address critical issues in building a supply chain system for the aggregated intelligent industry, including the integration of intelligent robots and low-altitude flight with the automotive supply chain [4]. - Discussions will also cover the evolution of development routes and division of labor within the industry chain for intelligent robots, as well as the establishment of a global cooperation system for the aggregated intelligent industry [4].

Core Viewpoint - The launch of the first generic version of methylphenidate extended-release tablets by Lifan Pharmaceutical marks a significant development in the ADHD treatment market in China, addressing the growing demand due to supply shortages of the original drug, "Zhuanzhuda" [2][3]. Group 1: Product Launch and Market Demand - Lifan Pharmaceutical announced the official launch of its first generic drug, methylphenidate extended-release tablets, on September 2 [2]. - The demand for methylphenidate extended-release tablets in China has been rapidly increasing, with sales in sample hospitals reaching approximately 350 million yuan in 2023 and projected to grow to about 430 million yuan in the first three quarters of 2024 [2]. - The original drug "Zhuanzhuda" has faced frequent shortages, prompting the need for a generic alternative [3]. Group 2: Challenges in Generic Drug Development - The core technology of the original drug, OROS (Osmotic Controlled Release Oral Delivery System), presents high barriers for generic manufacturers, which explains the delay in the launch of the generic version [2][5]. - The complex structure of "Zhuanzhuda," designed to mimic a specific drug release curve, makes it difficult to replicate, requiring precise control over multiple manufacturing processes [5]. - Previous attempts by other companies to produce generic versions of "Zhuanzhuda" resulted in reports of insufficient efficacy, leading to the withdrawal of FDA approvals [5][6]. Group 3: Market Context and Patient Needs - There are millions of ADHD patients in China, with an estimated prevalence of 6.26% among children and adolescents, translating to approximately 23 million patients [4]. - The ongoing supply issues with "Zhuanzhuda" have led to multiple notifications from hospitals regarding temporary suspensions of the drug, highlighting the urgent need for alternatives [3].

Core Viewpoint - Greentown China Holdings Limited reported a significant decline in profits for the first half of 2025, with total revenue dropping to 53.368 billion yuan, a year-on-year decrease of 23.28%, and net profit falling to 210 million yuan, down 89.74%, marking the lowest figure in the company's 19-year history since its listing [2][3]. Financial Performance - Total revenue for the first half of 2025 was 53.368 billion yuan, a decrease of 23% year-on-year [3]. - Gross profit stood at 7.159 billion yuan, down 21% year-on-year [3]. - Net profit was reported at 1.211 billion yuan, reflecting a 64% decline [3]. - Shareholder profit was only 210 million yuan, a drop of 89.74% compared to the previous year [3]. Reasons for Decline - The decline in revenue was attributed to an uneven delivery schedule in the first half of 2025, leading to a 22.7% decrease in recognized area [2]. - The company recorded an asset impairment loss of 1.933 billion yuan, impacting shareholder profit [2]. - Non-financial asset impairment losses were 1.717 billion yuan, a 20.7% increase from the previous year, due to the need for inventory reduction [4]. Sales and Market Position - Greentown China achieved total contract sales of approximately 122.2 billion yuan in the first half of 2025, ranking second among national real estate companies [2][4]. - The sales structure has become more focused, with sales in first and second-tier cities accounting for about 86%, an increase of 6 percentage points year-on-year [5]. - The company completed inventory reduction of approximately 19 billion yuan from 2021 and earlier [4]. Land Acquisition Strategy - Greentown China actively acquired land in major cities, adding 35 new projects in the first half of 2025, with an expected new value of 90.7 billion yuan [2][6]. - The company has a total of 158 land reserve projects, with a total construction area of approximately 27.24 million square meters [6]. - The company has been successful in acquiring high-value land parcels, becoming the "land king" in several cities, including a recent acquisition in Wuhan for approximately 665 million yuan [6][7]. Future Outlook - The company anticipates a sales conversion rate of 55% for new projects launched in the same year, ensuring liquidity [7]. - Greentown China plans to maintain a cautious approach in third and fourth-tier cities, focusing on acquiring quality land parcels when opportunities arise [8].

Core Viewpoint - The release of the "Artificial Intelligence+" policy by the State Council aims to deeply integrate six key areas: technology, industry, consumption, people's livelihood, governance, and global cooperation, with a focus on creating a new form of intelligent economy and society by 2035 [1][5]. Group 1: Company Performance - SenseTime (0020.HK) reported a remarkable mid-year performance for 2025, with revenue growth of 36% to 2.4 billion yuan, exceeding market expectations [3]. - The revenue from generative AI grew by 73% for the third consecutive year, while adjusted losses decreased significantly by 50%, with total cash reserves reaching 13.2 billion yuan [3]. - The company has established a complete AI ecosystem from foundational technology to top-level applications, aligning closely with the national "Artificial Intelligence+" strategy [3][6]. Group 2: Strategic Alignment with Policy - SenseTime's strategy of "computing power infrastructure - large model research - large model application" aligns well with national policy demands, showing substantial progress in its "1+X" strategy [6]. - The company has achieved a total computing power of over 25,000 PetaFLOPS, with an 80% utilization rate of heterogeneous clusters, demonstrating high efficiency [8]. - SenseTime's various applications in smart city management, healthcare, and industrial automation reflect the company's commitment to the "Artificial Intelligence+" initiative [8][9]. Group 3: Market Opportunities - The "Artificial Intelligence+" policy is expected to create significant market opportunities across six key action areas, with each field potentially containing trillion-level market scales [12]. - SenseTime's ongoing projects in smart health, education, and public safety are examples of how the company is leveraging these opportunities to enhance its market presence [9][10]. Group 4: Future Outlook - Looking ahead, SenseTime plans to continue iterating its multi-modal large model and expand its technological leadership in strong reasoning and intelligent agents [13]. - The company aims to deepen its presence in key policy areas such as industrial automation, automotive, and healthcare, while fostering innovation through its "1+X" strategy [13]. - SenseTime is committed to enhancing international cooperation and contributing to global AI governance standards, positioning itself as a core player in the global AI landscape [11][13].

Economic Growth - Beijing Economic Development Zone (also known as Yizhuang) has achieved an average GDP growth of 9.6% over the past five years, with a total GDP exceeding 360 billion yuan, and a growth rate of 12.3% in the first half of this year, ranking first among national-level economic development zones [2][3] - The economic zone contributes over 15% to the overall economic growth of Beijing, utilizing only 1.37% of the city's land while generating nearly 40% of the industrial added value [3] Industrial Development - The industrial output value of the Beijing Economic Development Zone has surpassed 600 billion yuan, accounting for 25.8% of the city's total, with a 15.6% increase in industrial added value in the first half of this year [3] - Key industries such as high-end automobiles, integrated circuits, and electronic information have all seen growth rates exceeding 20% [3] - The zone has established two major industrial clusters in the automotive sector, with a total output value of 265 billion yuan last year, and the electronic information industry has formed a complete industrial chain with an output value exceeding 150 billion yuan [4] Future Industries - The Beijing Economic Development Zone is actively seizing opportunities in future industries, with over 500 companies in artificial intelligence and nearly 200 in humanoid robotics, as well as 170 companies in commercial aerospace [5] - The zone has laid out plans in 23 sub-sectors of future industries, including 6G and quantum information [5] Business Environment - The zone has implemented a unique "Yizhuang Solution" to enhance the business environment, introducing over 200 self-selected measures to optimize the regulatory framework [6][7] - Innovative measures such as "one enterprise, one certificate DIY" and "integrated comprehensive supervision" have been promoted nationwide, significantly improving the efficiency of business operations [6][7] Service System - The Beijing Economic Development Zone has established a comprehensive service system for enterprises, including a new generation of government service complex that allows businesses to handle all matters in one place [7][8] - The zone has also initiated a "no certificate park" construction, exempting numerous documents and materials from submission, thereby streamlining processes for businesses [8] Talent Attraction - The zone is focused on attracting and retaining talent, with nearly 400,000 individuals, including a significant proportion of young talent under 45 [10] - Initiatives such as the "Ten Actions" and the "Talent Ten Articles 2.0+" policy aim to create a favorable environment for innovation and entrepreneurship [10]

Core Viewpoint - September is historically known as a challenging month for the U.S. stock market, often referred to as the "September Curse" [2] Group 1 - Historical data indicates that September is typically the worst-performing month for U.S. stocks, with significant events like the internet bubble and Lehman crisis occurring during this month [2] - This year, the combination of interest rate cut expectations and high inflation raises questions about whether the "curse" will manifest again [2]

Core Viewpoint - ST HuLuWa Pharmaceutical, once known as "China's top children's medicine brand," is currently facing severe challenges, with significant declines in revenue and profit reported in its 2025 semi-annual report [2][3]. Financial Performance - In the first half of 2025, ST HuLuWa achieved operating revenue of 508 million yuan, a year-on-year decrease of 42.89% [2]. - The net profit attributable to shareholders was 2.41 million yuan, down 94.14% year-on-year, while the net profit after deducting non-recurring gains and losses turned into a loss of 18.78 million yuan, a decline of 514.52% [2]. - The decline in performance is attributed to market demand fluctuations and intensified industry competition, particularly in the sales of respiratory medications [2]. Core Business Challenges - The core business segment of ST HuLuWa has experienced a severe downturn, with respiratory medications generating revenue of 299 million yuan, accounting for 58.86% of total revenue but down 52.91% year-on-year [3]. - Digestive system medications generated 109 million yuan, representing 21.46% of revenue, while systemic anti-infection medications brought in 49.51 million yuan, making up 9.74% of revenue [3]. Expense Structure - Sales expenses decreased significantly to 107 million yuan, down 60.25% year-on-year, accounting for 21.06% of revenue [4]. - Financial expenses increased to 21.07 million yuan, a rise of 77.74% year-on-year, primarily due to interest expenses from loan capitalized after project completion [4]. - R&D expenses were drastically reduced to 19.38 million yuan, down 80.69% year-on-year, attributed to the confirmation of R&D expenses based on progress [4]. Asset Quality - As of June 30, 2025, ST HuLuWa had cash and cash equivalents of 169 million yuan, a decrease of 33.65% from the end of 2024, mainly due to reduced cash receipts from sales [4]. - Accounts receivable increased to 455 million yuan, up 19.71% from the beginning of the period, with longer collection cycles due to the "two-invoice system" policy [5]. Regulatory Issues - ST HuLuWa faces serious challenges beyond performance declines, including issues with financial credibility and internal control deficiencies [6]. - In March 2025, the Hainan Securities Regulatory Bureau issued administrative measures against ST HuLuWa for non-compliance in revenue recognition and pricing, leading to significant adjustments in previously reported profits [6]. - The company adjusted its net profit for 2023 and the first half of 2024 by approximately 95.64 million yuan and 37.66 million yuan, respectively, revealing that much of the previously reported profit was not from genuine business activities [6]. Audit Concerns - In April 2025, the accounting firm Li Xin issued a qualified opinion on ST HuLuWa's 2024 financial report and a negative opinion on its internal control audit [6]. - The audit revealed that the controlling shareholder provided funds to customers through non-employee personal accounts, raising concerns about the collectability of large accounts receivable [6]. - ST HuLuWa purchased eight R&D projects from an affiliated company for 42.05 million yuan, which has ties to the actual controller, raising questions about the commercial rationale and potential financial impact of these transactions [7].

Core Insights - The core viewpoint of the article emphasizes that Xinhua Insurance is in a significant opportunity period during the "14th Five-Year Plan" and aims to enhance its "insurance + investment + service" collaborative development model while focusing on cost control and maintaining growth in intrinsic value [1] Financial Performance - In the first half of the year, Xinhua Insurance achieved original insurance premium income of 121.26 billion yuan, a year-on-year increase of 22.7% [1] - New business value reached 6.182 billion yuan, growing by 58.4% year-on-year [1] - Total assets amounted to approximately 1.78 trillion yuan, reflecting a 5% increase compared to the end of the previous year [1] - Net profit attributable to shareholders was 14.8 billion yuan, up 33.5% year-on-year [1] - The company plans to distribute a mid-term cash dividend of 0.67 yuan per share, totaling approximately 2.09 billion yuan, which accounts for 14.1% of the net profit attributable to shareholders for the first half of 2025 [1] Business Segments - The intrinsic value of Xinhua Insurance reached 279.39 billion yuan, an 8.1% increase from the end of the previous year [2] - Premium income from long-term insurance first-year premiums was 39.62 billion yuan, a significant increase of 113.1% [2] - The individual insurance channel generated premium income of 72.53 billion yuan, a 5.5% year-on-year increase [2] - The bancassurance channel achieved premium income of 46.2 billion yuan, a 65.1% increase, with long-term insurance first-year premiums growing by 150.3% [3] Product Strategy - Traditional insurance premiums reached 74.30 billion yuan, a 36.2% increase, with dividend insurance premiums growing by 24.9% to 18.27 billion yuan [4] - The company has established a dynamic adjustment mechanism for product preset interest rates to enhance product competitiveness [4] - New business value is a crucial indicator of business quality and sustainability, with a continued high performance in the first half of the year [5] Service Ecosystem - Xinhua Insurance has significantly invested in the elderly care finance sector, with an investment balance of 16.1 billion yuan, a 290% increase [6] - The company has established 40 quality elderly care communities across 28 cities, providing integrated services for health, living, and travel [6] - Nearly 15,000 customers have gained access to elderly care community rights, generating nearly 20 billion yuan in premiums [6] Strategic Focus - The company is committed to high-quality development through value growth, structural optimization, and quality enhancement [7]