Core Viewpoint - The lawsuit against 39 defendants, including Geer Software, seeks to recover 372 million yuan due to their alleged collusion in financial fraud with ZeDa YiSheng, a company that has already faced penalties for fraudulent issuance [1][3][4]. Group 1: Legal Proceedings and Financial Implications - Geer Software and 38 other defendants are being sued by three intermediary institutions for a total of 372 million yuan, which includes compensation for investor losses and penalties paid to the regulatory authority [1][3]. - The three intermediary institutions, Tianjian Accounting Firm, Dongxing Securities, and Kangda Law Firm, are pursuing claims of 127.46 million yuan, 215 million yuan, and 33 million yuan respectively [3]. - The lawsuit is part of a broader trend where third-party entities that assist in financial fraud are being held accountable, marking a shift towards comprehensive liability in capital market fraud cases [2][5]. Group 2: Regulatory Context and Market Impact - The China Securities Regulatory Commission (CSRC) has noted a new trend in financial fraud involving third-party collusion, which disrupts market order and necessitates strict enforcement [2][5]. - The CSRC has previously penalized ZeDa YiSheng for fraudulent activities, and the ongoing lawsuits aim to extend accountability to all parties involved in the fraud ecosystem [6][11]. - Experts suggest that this legal action could deter future collusion in financial fraud by increasing the costs associated with such activities, thereby promoting a more responsible market environment [7][10]. Group 3: Implications for Intermediaries and Third Parties - The lawsuit emphasizes the need for intermediaries to conduct thorough due diligence and shift from mere formal reviews to substantive risk assessments [7][8]. - Legal experts argue that third parties who knowingly assist in financial fraud pose a greater risk to the capital market than intermediaries who may act out of negligence [8][11]. - The outcome of this lawsuit could set a precedent for how third-party involvement in financial fraud is treated legally, potentially leading to stricter enforcement and accountability measures [10][11].

Core Viewpoint - The company, Aybon Co., Ltd. (603188.SH), is selling its 100% stake in Lianyungang Yaren Housing Rental Co., Ltd. to alleviate financial pressure and optimize asset structure amid ongoing losses and industry challenges [1][6]. Group 1: Financial Performance - Aybon Co. has reported continuous losses for six years, with a cumulative net loss of 2.764 billion yuan from 2019 to 2024 [2][3]. - The company's revenue from 2019 to 2024 has shown significant fluctuations, with figures of 1.421 billion yuan, 653 million yuan, 841 million yuan, 966 million yuan, 651 million yuan, and 701 million yuan respectively [2]. - In 2024, Aybon Co. achieved a revenue of 701 million yuan, representing a year-on-year increase of 7.80%, while the net loss was reduced to 265 million yuan, a decrease of 313 million yuan compared to 2023 [3]. Group 2: Industry Challenges - The company has faced significant operational challenges due to environmental safety issues leading to production halts, increased competition in the dyeing industry, and low downstream demand [3][4]. - The domestic dye market is characterized by intense competition and a concentrated regional structure, which has put pressure on all dye manufacturers [3]. Group 3: Asset Sale and Strategic Moves - The sale of the housing rental subsidiary is seen as a necessary step to address liquidity issues and optimize the asset structure, with the sale price set at 71.8769 million yuan, providing a premium of approximately 23.67 million yuan [6][7]. - The company has previously sold other subsidiaries to reduce management costs and risks associated with idle assets, indicating a strategic focus on core operations [7]. - The recent change in ownership structure, with the state-owned Guojing Group becoming the controlling shareholder, is expected to bring new resources and strategic direction to the company [4].

中经记者 郭阳琛 石英婧 北京、上海报道 8月9日，星期六，北京荟聚购物中心（以下简称"北京荟聚"）像往常一样热闹。下午3时，不少热门餐 饮门店仍需排队叫号才能就餐。一旁的宜家店内更是聚满顾客，只能推着购物车缓步向前。 和眼前的热闹景象形成对比的是，北京荟聚正传出将被出售的信息。日前，有消息称，英格卡集团正计 划打包出售中国的10座荟聚购物中心。首批出售的三座购物中心分别位于北京市、江苏省无锡市和湖北 省武汉市，涉及资金约160亿元，接盘方或为泰康人寿领投的保险基金。 作为来自瑞典的世界500强企业，英格卡集团旗下最为人所熟知的品牌是"蓝房子"宜家。2009年，英格 卡集团另一大板块——英格卡购物中心（Ingka Centres）进入中国市场，负责"荟聚"品牌运营，并与宜 家保持密切合作。截至目前，英格卡购物中心在中国市场投资总额约275亿元，总体租赁面积约94.3万 平方米。 对于上述资产出售信息，英格卡购物中心相关负责人日前向《中国经营报》记者回应道："我们不对市 场传言及推测发表评论。中国一直都是我们最重要的市场之一，英格卡购物中心一直在评估和关注市场 投资机会。" "'荟聚'就像它的名字一样，很多朋友 ...

Core Insights - The first 200 billion yuan Sci-Tech Bond ETF product was launched in the market within a month of its listing, with a current scale of 200.22 billion yuan as of August 13 [1] - The Sci-Tech Bond ETF by Harvest (159600) has shown high liquidity, with an average daily turnover rate exceeding 49% and an average daily trading volume surpassing 7 billion yuan since its listing [1] - The initial batch of Sci-Tech Bond ETFs was collectively listed on July 17, serving as a new financing tool to support technological innovation, primarily targeting sectors such as semiconductors, artificial intelligence, and new energy [1]

Core Viewpoint - Tencent's WeChat Pay has updated its consumer credit service "Fenfu" to include both "payment at the time of consumption" and "borrowing to bank card for consumption" as part of its offerings, indicating a shift towards more flexible borrowing options for users [1][2]. Group 1: Product Features and Competition - Fenfu is a consumer credit product that allows users to borrow for various consumption scenarios, such as dining and shopping, but does not support red envelope transfers [2][5]. - The newly introduced borrowing feature is designed to assess user consumption levels based on transaction history, which aids in credit evaluation [2][8]. - Fenfu is currently in a gray testing phase and is only available to select users, while the more established product, WeChat's "Weilidai," is more visible and accessible within the app [3][5]. Group 2: Market Position and Financial Performance - Tencent's financial technology revenue has been steadily increasing, with consumer loan services contributing significantly to this growth [6][7]. - In the first half of 2024, Tencent's financial technology and enterprise services revenue reached RMB 555 billion, reflecting a 10% year-on-year increase [6]. - The registered capital of Tencent's financial subsidiary, Caifutong Xiaodai, ranks among the top in the industry, indicating strong financial backing for its lending operations [7]. Group 3: Industry Insights and Future Outlook - Analysts suggest that the integration of consumption loans and cash loans could enhance flexibility in funding usage, catering to both immediate consumption and short-term financial needs [8]. - The reliance on transaction history for credit assessment may improve risk control but could also exclude users with low transaction frequency despite having good credit [8]. - As Fenfu matures, it is expected to elevate the scale of consumer credit offerings within Tencent's ecosystem, intensifying competition in the consumer credit market [8].

Core Viewpoint - The company, Kewei Medical, is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international presence and brand influence [2][3]. Group 1: Company Overview - Kewei Medical specializes in the research, production, sales, and service of medical devices, covering health monitoring, rehabilitation aids, respiratory support, medical care, and traditional Chinese medicine [2]. - The company was listed on the A-share market in October 2021, achieving a net profit of approximately 429 million yuan that year, but experienced a decline in the following two years, with a recovery to 312 million yuan in 2024 [2][6]. Group 2: Internationalization Strategy - The management has indicated that the H-share issuance aligns with national policies supporting companies to "go global," and the Hong Kong market offers a high degree of internationalization and quality financing opportunities [3]. - The company aims to enhance its overseas business capabilities and optimize cross-border mergers and acquisitions through the establishment of the H-share platform [3]. Group 3: Recent Acquisitions - In the first half of the year, Kewei Medical completed acquisitions of Shanghai Huazhou and Ximaner, which are expected to strengthen its overseas business resources [2][4]. - Shanghai Huazhou, established in 2002, is a well-known domestic manufacturer of pressure-sensitive adhesive products, with over 60% of its revenue coming from overseas [4]. - Ximaner, founded in 1988, operates retail and wholesale medical device centers in Hong Kong, enhancing Kewei Medical's market presence [5]. Group 4: Financial Performance - In 2024, Kewei Medical reported revenues of 2.983 billion yuan, a year-on-year increase of 4.53%, and a net profit of 312 million yuan, up 22.6% [6]. - The company’s domestic revenue accounted for approximately 98.02% of total revenue, while overseas revenue was only about 59.15 million yuan, indicating that international operations are still in the development phase [6]. - The company has experienced significant fluctuations in performance since its IPO, with net profit dropping to approximately 254 million yuan in 2023 after a peak in 2021 [6]. Group 5: Recent Challenges - In the first quarter of the current year, Kewei Medical's revenue decreased by 8.59% to approximately 738 million yuan, and net profit fell by 9.68% to about 91.43 million yuan [7]. - The company’s sales expenses increased by 31.4% to approximately 973 million yuan, primarily due to the expansion of its retail network and increased marketing investments [6][7].

"五折我也卖！"这两年，骑行这项运动异常火热，尤其是到了夏天，最近杭州超山附近每天晚上都能看到不少骑行团，但是不少朋友都发现最近自行车品 牌几乎都在降价，有些甚至直接腰斩！ 5月份，有网友发现高端自行车品牌崔克不少车型都在降价，从崔克淘宝官方旗舰店的折扣来看，有多个车款给出了5000—15000元不等的降价幅度。 今年以来，崔克（TREK）、闪电、捷安特、美利达以及迪卡侬旗下品牌的多款公路自行车接连降价，过去厂商严格控价，需要排队加价才能买到的高端 自行车，如今折扣力度从几百元到几千元不等，有品牌的个别车型甚至对折出售。 "新车比二手还便宜，卖二手直接腰斩。"有骑友2023年花5万元购买的自行车，因为闲置了很久，最后决定出售，"结果5000元挂了好几天都没有人要。" 多品牌纷纷降价 配件降了2万元 小红书上也有很多自行车降价的帖子，有网友吐槽上周才买的自行车，这周就从10799元降到了8999元，一点都不保值。 家住杭州南苑的小方，是一位骑行爱好者，去年3月份，他以3600元的价格，购入一辆美利达自行车，小方说这辆车当时是网红款，很少有现货，想买都 要加价，他是加了200元才买到的。 今年2月，小方想换车，网 ...

日前，财政部、中国人民银行、金融监管总局联合发布关于印发《个人消费贷款财政贴息政策实施方 案》（以下简称"《实施方案"》）。 《中国经营报》记者注意到，在目前可以办理贴息个人消费贷款的23家贷款经办机构中，有4家为持牌 消费金融公司，分别是重庆蚂蚁消费金融有限公司（以下简称"蚂蚁消金"）、招联消费金融股份有限公 司（以下简称"招联消金"）、兴业消费金融股份公司（以下简称"兴业消金"）、中银消费金融有限公司 （以下简称"中银消金"）。 招联首席研究员、上海金融与发展实验室副主任董希淼表示，将4家头部消费金融公司纳入首批贴息金 融机构名单，是《实施方案》的一大亮点，将更好地发挥消费金融公司扁平灵活、触达深入等专业优 势。 对于此次政策落地，多家消费金融公司表示将抓紧制定细则，推进实施工作。 蚂蚁消金相关负责人表示，作为政策参与机构，公司将积极贯彻政策要求，从消费场景、风险控制、客 户服务、营销宣传等方面做实做细实施方案，发挥好财政资金贴息政策作用。 据了解，在此前的业务实践中，蚂蚁消费金融针对家居家装等重点消费领域，已推出分期免息服务。该 服务的落地，是蚂蚁消费金融联合合作平台及商家共同发力，通过多方协同承担贴息 ...

就此，快手内部一位不愿具名的人士告诉《中国经营报》记者："这个事情跟自媒体说的有些出入，其 实我们之前就做过类似的全托管业务，还有半托管业务等，但这些不是大家理解的那种自营（电商）， 可以把这个看作一个店铺。" 据悉，店铺运营主体是成都品农科技有限公司，该公司由快手关联公司100%控股。目前店铺粉丝量刚 过万，总销量超22万件，目前里面主要销售珠宝、金条等。 前述报道提到，从运营模式来看，"快手官方自营旗舰店"依托快手电商合作的源头工厂，采用工厂直发 的方式，这有助于减少中间环节。相较于京东自营成熟的仓配体系和全链路品控能力，快手自营的供应 链仍处于起步阶段，缺乏覆盖全国的仓储网络，履约时效性或存在短板。 近年来，电商平台纷纷加码自营业务，自营模式因能直接把控商品质量、物流配送和售后服务，更容易 获得消费者信任。快手此前的电商业务以第三方商家入驻和直播带货为主，虽然积累了庞大的用户基础 和交易规模，但在品控和供应链管理上仍有提升空间。业内人士认为，此次快手上线自营旗舰店，是对 现有电商生态的补充，有助于完善平台的服务能力，增强用户的购物黏性。 在业内人士看来，优势方面，依托平台的流量优势和算法推荐能力，快手官 ...

重庆是如何实现的？近日，《中国经营报》记者走访重庆市多个消费场景注意到，当地在本地消费、夜 间消费、明星效应、多元场景打造等方面颇有亮点。 重庆市商务委相关负责人向记者介绍，下半年重庆将以国际消费中心城市培育建设为引领，突出"政策 +活动+机制"多轮驱动，围绕国际化、品质化、多元化、特色化发展方向，推动商文旅体健展深度融 合，注重商品消费与服务消费并重，构建"大消费"发展格局，全力推动消费持续回升向好。 盛夏午后，重庆市民在商场打造的室内景观中游览、避暑。陈雪波/摄影 本地消费带动游客消费 中经记者 陈雪波 卢志坤 重庆报道 小丑鱼灵活穿梭，魔鬼鱼缓缓划过，潜水员水下喂食引来鱼群舞蹈……这个梦幻的场景不是出现在海洋 公园，而是在重庆的一家商场中心。 今年上半年，重庆市社会消费品零售总额8300.37亿元，超过上海同期数据，同比增长4.5%，一跃成 为"消费第一城"。业内人士认为，社会消费品零售总额能够反映一个地方的消费市场活跃程度与规模， 是衡量城市经济活力的重要风向标。 重庆下浩里，在小红书上是"重庆旅行必去目的地"之一。记者近日走访下浩里注意到，这里有特色鲜明 的咖啡馆、奶茶店、手作店等主理人门店，装修色 ...