中经记者 石健 北京报道 除了中信金租大幅增资外，前不久，云南金融监管局网站发布批复，同意华夏金租以未分配利润转增资 本方式增加注册资本30亿元。增资后，华夏金租注册资本由100亿元变更为130亿元，公司原有股东及持 有股权占比保持不变。 此次增资完成后，华夏金租总股本将达到130亿元，在国内金租行业排名跃升至第5位，而中信金租也进 入前10位。 进入2025年下半年，金租行业再现增资潮。 日前，华夏金融租赁有限公司（以下简称"华夏金租"）增加注册资本30亿元，增资后注册资本变更为 130亿元。中信金融租赁有限公司（以下简称"中信金租"）注册资本由40亿元增至100亿元。前海兴邦金 融租赁有限责任公司（以下简称"兴邦金租"）获批增加注册资本5亿元，由15亿元变更为20亿元。 其 中，华夏金租和中信金租增资后，持牌金租公司中，注册资本达到100亿元的已经有10家。 多位金租行业人士认为，金租公司增加注册资本，一方面，是为了达到若干监管新要求。另一方面，通 过增厚资本也有利于自身向产业领域拓展业务，实现差异化发展。 百亿金租达到10家 前不久，天津金融监管局发布批复，中信金租增加注册资本60亿元。而中信金租此次的 ...

中经记者 夏治斌 石英婧 上海报道 "现在这些（非新国标）车型，8月31日之后就不能在店里摆放销售了，但会有缓冲时间供上牌。"7月30 日，在上海市普陀区的一家电动自行车门店，销售人员指着店内的电动自行车向《中国经营报》记者直 言，"这些天，好多人来换车。国家大力支持换车，现在还有国补。" 相关数据显示，当前我国电动自行车社会保有量约3.8亿辆，相当于每4个人就拥有1辆电动自行车。电 动自行车是人们日常短途出行的重要交通工具，与人们生活息息相关。 电动自行车的质量、安全性能等问题一直是外界关注的重点。2024年年底，新版强制性国家标准《电动 自行车安全技术规范》（GB 17761—2024）正式发布，共设定了两个实施时间，其中生产环节实施时 间是2025年9月1日，销售环节实施时间是2025年12月1日。 对于即将实施的电动自行车的新国标，世纪证券研报指出，随着新国标实施，大量不符合标准的存量车 辆需更新换代，加之各地"以旧换新"补贴政策推动，将刺激市场需求。 新国标进入"倒计时" 7月24日，工业和信息化部举行"电动自行车相关标准政策"新闻发布会，介绍新版电动自行车强制性国 家标准及《关于强化电动自行车强制 ...

Group 1 - The Ministry of Finance and the State Taxation Administration announced the restoration of value-added tax (VAT) on interest income from newly issued government bonds, local government bonds, and financial bonds starting from August 8, 2025 [1][2] - The initial exemption from business tax for government bond interest aimed to cultivate the bond market, which transitioned to VAT exemption in 2016 under the "business tax to VAT" reform [1] - The restoration of VAT is expected to attract funds into the bond market, expand its scale, and optimize the financial market structure, thereby enhancing the financial market system [1][2] Group 2 - The restoration of VAT on interest income may lead to a decrease in after-tax yields on interest-bearing bonds, potentially redirecting funds towards credit bonds, the stock market, or the real economy, which could improve capital efficiency [1][2] - The estimated short-term revenue from the restored VAT is around 34 billion yuan, with projections suggesting that the revenue could reach approximately 100 billion yuan as the scale of taxable bonds continues to grow [1][2]

Group 1 - The "Two New" policies, which include large-scale equipment updates and consumer goods trade-in programs, are important measures for promoting high-quality development in China [1] - From January to June, the amount spent by enterprises on machinery and equipment purchases increased by 11.1% year-on-year, continuing the rapid growth trend from the previous year [1] - Retail sales of home appliances, such as televisions and refrigerators, saw significant year-on-year growth of 45.3% and 56.6% respectively, while furniture related to home decoration grew by 34% [1] Group 2 - The sales revenue of the manufacturing industry increased at a rate 1.5 percentage points faster than the overall growth rate of national enterprises, becoming a key support for stable economic growth [1] - High-tech industries experienced a year-on-year sales revenue growth of 14.3% from January to June, indicating a robust expansion of innovative industries [2] - The proportion of inter-provincial sales in total national enterprise sales reached 40.7%, an increase of 0.6 percentage points compared to the same period last year, reflecting the deepening trade connections and steady progress in building a unified national market [2]

Group 1 - UBS's report indicates that family offices are gradually reducing cash holdings and increasing interest in gold, precious metals, and private debt [1][2] - 19% of global family offices plan to increase investments in the Greater China region, up 3 percentage points from 2024, with 30% in the Asia-Pacific region, reflecting a growing interest in this market [1] - The preference for the Greater China region is attributed to China's robust economic growth, expanding consumer market, and rapid development in technology innovation [1] Group 2 - Family offices are expected to reduce cash allocation to 6% by 2025, reflecting a shift towards assets with growth potential, particularly in developed market equities [2] - Interest in private debt has significantly increased among family offices, aiming to enhance overall portfolio returns through diversification [3] - Approximately one-third of family offices plan to increase allocations to gold and precious metals, indicating a rising demand for risk-hedging assets [3] Group 3 - The World Gold Council reported a 3% year-on-year increase in global gold demand, reaching 1249 tons in Q2 2025, driven by strong investment inflows amid geopolitical uncertainties [4] - Family offices are balancing investments between technology stocks and precious metals, indicating a strategy to capture growth opportunities while hedging against risks [4] - The long-term low-interest rate environment is pushing family offices to explore non-traditional investment avenues, including private equity and infrastructure [5] Group 4 - 45% of Middle Eastern family offices plan to increase investments in the Greater China region over the next five years, highlighting the region's growing appeal [7] - China and India are the most focused markets for family offices in the next 12 months, with 39% of Asia-Pacific family offices planning to increase investments in mainland China [7] - Approximately 78% of Asia-Pacific family offices prefer active investment strategies to achieve higher risk-adjusted returns [7] Group 5 - The development of family offices in China is driven by rapid economic growth and the need for wealth management tools for succession planning [8] - China's ongoing high-level opening-up policies and the dual drivers of consumption and technology are creating fertile investment opportunities [8] - The current market conditions present opportunities for investors to capitalize on valuation gaps and achieve cost-effective positioning [8]

Core Viewpoint - Alibaba's 1688 is leveraging AI to transform its business model, focusing on enhancing services for small and medium enterprises, and aims to establish a new "AI to B" commercial paradigm [2][5][6]. Group 1: AI Integration and Strategy - 1688 has launched a new "1688 AI version" app, marking a significant shift towards AI-driven functionalities, including AI search, AI product selection, and AI enterprise inquiries [3][5]. - The company has committed to offering all AI products for free initially, prioritizing user needs and aiming to build commercial value over time [2][7]. - The strategy aligns with Alibaba's broader "All in AI" initiative, with performance evaluations based on AI utilization expected by 2025 [3][6]. Group 2: Business Model Transformation - The introduction of AI is expected to simplify B2B transactions, expanding the buyer demographic and enabling more individuals to engage in entrepreneurship [5][6]. - 1688's AI capabilities are designed to enhance the efficiency of the supply chain, allowing for a more agile and responsive business environment [5][6]. - The platform aims to address the needs of both B and C class users, with a focus on providing comprehensive solutions for sourcing and procurement [5][7]. Group 3: Performance Metrics and Future Goals - AI implementation has already led to a 20% to 30% increase in key performance indicators such as conversion and repurchase rates, with expectations of a 50% to 100% increase by 2025 [8]. - The company is actively working to overcome challenges related to user engagement and the quality of merchants on the platform, emphasizing the importance of high-quality suppliers [7][8]. - 1688's goal is to enhance operational efficiency through AI, with measurable outcomes being a key focus for future development [8].

"这次WAIC大会，基本上国内所有AI芯片、服务器厂商都开始拥抱超节点。我们在去年提倡超节点的 时候，大家还觉得很陌生，今年对这个趋势已没有任何疑问。"上海曦智科技有限公司（以下简称"曦智 科技"）创始人、首席执行官沈亦晨博士表示。 记者还注意到，算力基础设施每年都在竞速创新，摩尔线程、沐曦科技、燧原科技等厂商都展出了最新 的产品和解决方案。而且国产厂商也不再"比参数"，还出现了罕见的合作。比如四位国产AI芯片（沐曦 科技、天数智芯、燧原科技和壁仞科技）高管首度同台，出现在大模型独角兽——阶跃星辰的圆桌论坛 上。 "不做超节点就掉队！"回顾2025年世界人工智能大会（WAIC）的精彩时刻，"超节点"绝对有一席之 地。 其中最受瞩目的，当属华为首次展出的昇腾384超节点真机，即Atlas 900 A3 SuperPoD，其集成了384颗 昇腾NPU和192颗鲲鹏CPU，通过全新高速网络MatrixLink全对等互联，这超节点就像一台超级"AI服务 器"，算力规模300 PFLOPs，接近英伟达GB200 NVL72系统的2倍。 《中国经营报》记者在现场看到，在昇腾384超节点面前，不缺少前来打卡的人流以及向工作 ...

Core Viewpoint - The payment industry is undergoing significant transformation, leading to increased operational challenges for institutions and a more active market for buying and selling [1] Company Summary - China Ruyi (0136.HK) announced the acquisition of a 30% stake in Kuaiqian Financial from Shanghai Wanda Network Financial Services for 240 million yuan, making China Ruyi the largest single shareholder of Kuaiqian Financial [3][6] - The acquisition is expected to create synergies with China Ruyi's existing businesses, including online streaming and gaming services [3] - Kuaiqian Financial's most important asset is Kuaiqian Payment, which was once a leading player in the third-party payment sector but has seen a decline in transaction volume, dropping out of the top twenty in the industry [4][5] - The total valuation of Kuaiqian Payment is estimated at around 800 million yuan, a decrease of approximately 60% from its valuation during Wanda's acquisition in 2014 [6] Industry Summary - The payment industry is facing stricter regulations, making it more challenging for companies to obtain licenses and operate [7] - The core value of Kuaiqian Payment lies in its full payment license and its established merchant resources in key industries such as insurance, aviation, and retail [7] - China Ruyi's revenue for 2024 is reported at 3.671 billion yuan, with a net loss of 207 million yuan, although adjusted net profit increased by 120% year-on-year [8] - Kuaiqian Payment is actively expanding into overseas markets and developing digital RMB services, which may present new opportunities [9]

光明乳业股份有限公司党委副书记、总裁贲敏：以百年积淀为基础，以数字技术为刀刃，创新开辟一条 从牧场到餐桌全链路的智能革命新航道。 0:00 ...

Core Viewpoint - JD.com is intensifying its international expansion strategy, particularly through the acquisition of Ceconomy, aiming to enhance its presence in the European market and leverage local resources for growth [1][2][3]. Group 1: Acquisition Details - JD.com plans to acquire Ceconomy for approximately €2.2 billion, offering €4.60 per share, with the transaction expected to complete by mid-2026 [3][4]. - Ceconomy, a leading consumer electronics retail group in Europe, operates over 1,000 stores across 12 countries and has a significant online presence [3][5]. - The acquisition is supported by Ceconomy's largest shareholder, Convergenta, indicating confidence in JD.com's ability to drive Ceconomy's next growth phase [5]. Group 2: Strategic Importance - JD.com aims to utilize Ceconomy's extensive offline network to establish closer customer relationships and enhance its supply chain efficiency in Europe [6][7]. - The acquisition aligns with JD.com's strategy to introduce 1,000 Chinese brands internationally and bring 1,000 overseas brands to China, targeting a cumulative sales growth of ¥10 billion [1][2]. Group 3: Market Challenges - JD.com faces significant challenges in the European market, including high labor costs, strict labor regulations, and the need for local partnerships to succeed [7][8]. - The company must effectively manage local teams and integrate its supply chain with European market demands while ensuring compliance with local regulations [8][9]. - The success of the acquisition will depend on JD.com's ability to transform Ceconomy into a flagship for its international business [9].