来源 |红星资本局 今年以来，小米汽车未交付车辆却要求消费者提前支付尾款一事，引发热议。 11月22日消息，据了解，近日海口市美兰区人民法院宣判了一起相关案件，判决小米相关公司向涉事消 费者返还双倍购车定金，合计10000元。从公开信息看，这或是全国首例小米汽车未交车催收尾款的宣 判案件。 法院判决小米汽车相关公司退还双倍定金 根据判决书内容，经海口市美兰区人民法院审理查明，2024年7月19日，李女士（化名）试驾后决定购 买一辆318900元的霞光紫SU7 Max，并通过小米汽车APP交付5000元定金，该款项由小米景明科技有限 公司收取。 海口市美兰区人民法院认为，小米海口公司依据格式条款，要求消费者在未验车、未交付的情况下，在 收到通知付款后7日内支付尾款，逾期则取消订单且不退还定金，该行为实质上加重消费者的付款义 务，同时变相限制了其对车辆质量进行核验的主要权利，存在关于格式条款无效的情形。 2025.11.22 本文字数：1189，阅读时长大约2分钟 法院认为，小米海口公司坚持要求原告限期付款后才能排产，否则取消订单并没收定金，其行为与小米 汽车公司的宣传不一致，违反诚实信用原则，实质性剥夺了原告作 ...

Core Insights - The Black Friday shopping season has officially started on November 20, 2023, and will last until November 28, with various platforms like Amazon, TikTok Shop, and AliExpress participating in the promotions [1][2]. Group 1: Changes in Promotion Strategies - Amazon has extended the Black Friday promotion period, starting earlier with "Black Friday Early Deals" on November 13, and will continue into Cyber Monday, ending on December 1 [2]. - TikTok Shop has also extended its promotional activities, starting with an "Opening Day" on November 13 and continuing through various themed days until mid-December [2][3]. - Platforms are investing heavily in promotional resources, with TikTok Shop launching a "Million Dollar Black Friday Plan" to incentivize merchants with advertising funds and subsidies up to 15% based on GMV [3][6]. Group 2: Impact of Pricing Policies - Amazon's new pricing policy requires that promotional prices reflect a minimum discount based on historical prices from the past 90 days, which has raised the bar for discounts during Black Friday [3][5]. - This policy has significantly impacted sellers, forcing them to lower prices to qualify for promotions, thereby squeezing profit margins [5][6]. Group 3: Sales Performance and Market Conditions - Some sellers, like a battery merchant, reported that the new pricing rules did not affect their sales strategy, focusing instead on quality and maintaining their marketing approach [6]. - However, another seller expressed concerns about meeting sales targets, projecting a goal of 50 million yuan for Black Friday but fearing that current sales trends may only reach two-thirds of that target [6][7]. - Consumer sentiment in the U.S. remains cautious, with 64% planning to shop during Black Friday, but many expect to spend less due to inflation concerns [8].

Core Insights - Meituan announced a plan to invest 10 billion yuan over the next five years to build a more comprehensive rider protection system [1] Group 1: Investment and Initiatives - The investment will focus on providing affordable and secure housing for riders through the launch of "Rider Apartments" in cities like Beijing, Shenzhen, and Chongqing [1] - The company is expanding its health care benefits by extending the major illness care fund coverage from riders and their children to include spouses and parents [1] - Meituan is also broadening the scope of the Kangaroo Baby public welfare program to provide more support for riders' children [1]

Core Insights - Eli Lilly has become the first pharmaceutical company to surpass a market capitalization of $1 trillion, breaking the tech industry's dominance in the "trillion-dollar club" [2] - The company's stock has risen over 35% this year, driven by a surge in demand for weight loss drugs [2] - Sales of Eli Lilly's GLP-1 drug, tirzepatide, have exceeded $10 billion, accounting for more than half of the company's total revenue [2] - Eli Lilly has overtaken Merck's Keytruda in quarterly sales, establishing itself as a leading player in the pharmaceutical market [2] - The company plans to invest billions to increase domestic production of weight loss drugs in the U.S. [2] Market Dynamics - The weight loss drug market is projected to become one of the most profitable segments in healthcare, driven by a large patient base [2] - Wall Street estimates that the weight loss drug market could reach $150 billion by 2030, with Eli Lilly and Novo Nordisk expected to capture a significant share of the anticipated sales [3] - Eli Lilly's stock performance has outpaced the broader U.S. market, with a 75% increase since the launch of tirzepatide in late 2023, compared to a 50% rise in the S&P 500 [3] Future Prospects - Investors are closely watching Eli Lilly's next-generation oral weight loss drug, orforglipron, which is expected to receive approval in early next year [3] - Analysts from Citigroup have highlighted the latest generation of GLP-1 drugs as a "sales miracle," indicating strong sales trends for the next-generation oral weight loss drug [4]

Core Viewpoint - The Ministry of Industry and Information Technology of China announced the official launch of commercial trials for satellite IoT services, aiming to enhance the satellite communication market and support the development of emerging industries [1] Group 1 - The commercial trial period is set for two years [1] - The initiative aims to enrich the supply in the satellite communication market and stimulate market vitality [1] - The project will enhance industry service capabilities and establish a safety supervision system [1] Group 2 - The goal is to create replicable and promotable experiences and models [1] - The initiative supports the safe and healthy development of commercial aerospace and low-altitude economy [1] - It aims to serve the construction of a new development pattern [1]

Core Viewpoint - Tesla is facing a lawsuit in Washington state related to a fatal fire incident that resulted in one death and one serious injury, highlighting ongoing concerns about the design of its vehicle door handles [1] Group 1: Incident Details - The lawsuit stems from an accident that occurred in January 2023, where a Model 3 vehicle suddenly accelerated uncontrollably, crashing into a utility pole and catching fire [1] - The lawsuit claims that Tesla's "unique and defective door handle design" prevented the doors from being operable, hindering rescue efforts [1] - The incident resulted in the death of Wendy Dennis and injuries to her husband, Jeffery Dennis, including burns to his legs [1] Group 2: Legal Context - This lawsuit is the latest in a series of legal actions against Tesla regarding its vehicle door handle design, following a similar lawsuit in Wisconsin related to a Model S crash that resulted in five fatalities due to inaccessible doors during a fire [1]

2025.11.22 本文字数：1163，阅读时长大约2分钟 作者 |第一财经 胡弋杰 *三大股指全面走高 *威廉姆斯释放降息信号 *CPI、非农数据双双缺席 美国三大股指周五集体反弹，纽约联储主席释放年内进一步降息信号，推动市场情绪改善。不过，在科 技板块承压的背景下，三大指数本周仍录得明显跌幅。 截至收盘，道琼斯工业平均指数上涨493.15点，涨幅1.08%，收于46245.41点。纳斯达克综合指数上涨 0.88%，收于22273.08点。标普500指数上涨0.98%，收于6602.99点。 "科技七巨头"表现分化。谷歌涨幅居前，上涨3.53%；苹果和亚马逊分别上涨1.97%和1.63%，Meta上涨 0.87%。微软下跌1.32%，特斯拉下跌1.05%，英伟达下跌0.97%。 纳斯达克中国金龙指数上涨1.30%。网易有道上涨6.7%，阿特斯太阳能上涨5.3%，亚朵上涨4.9%，蔚来 上涨3.4%，腾讯音乐上涨2.6%，理想汽车上涨2.1%。另一方面，小马智行下跌1.3%。 尽管周五反弹，但在科技股估值压力和人工智能资本开支担忧影响下，三大指数全周仍下跌：纳斯达克 指数本周下跌2.74%；标普500指数下 ...

Core Viewpoint - The trend of small and medium-sized banks discontinuing long-term deposit products is highlighted, with the recent announcement from Meizhou Commercial Bank regarding the cessation of five-year fixed deposits and automatic renewal services marking a significant shift in the banking landscape [1][2]. Group 1: Discontinuation of Long-term Deposit Products - Meizhou Commercial Bank announced the discontinuation of its five-year fixed deposit product due to policy adjustments, affecting customers who can no longer benefit from automatic renewal services [2]. - Several small and medium-sized banks have also removed five-year fixed deposits from their offerings, with notable examples including the announcement from Tuyuqi Mengyin Village Bank, which explicitly stated the cancellation of five-year fixed deposits [7]. - A total of seven banks, including Meizhou Commercial Bank and Zhongguancun Bank, have removed five-year fixed deposits from their platforms, with some banks also discontinuing three-year fixed deposits [8]. Group 2: Interest Rate Adjustments - In response to pressure on net interest margins, many small and medium-sized banks have begun a new round of interest rate cuts, with significant reductions observed in deposit rates since October [9]. - For instance, Pingyang Pudong Village Bank reduced its three-year and five-year fixed deposit rates from 2.1% and 2.15% to 1.3% and 1.35%, respectively, marking a drop of 80 basis points [9]. - The overall trend indicates that small banks are aligning their deposit rates with larger banks, leading to a flattening of what were previously higher interest rates [10]. Group 3: Market Implications - The ongoing adjustments in deposit products and interest rates reflect the challenges faced by small and medium-sized banks in managing their funding costs while trying to attract deposits [10]. - Analysts suggest that the current low net interest margins may lead to further reductions in loan rates if the Loan Prime Rate (LPR) is cut again, which would subsequently drive down deposit rates [11][12]. - The banking sector is under pressure to balance deposit attraction with cost management, especially as the year-end approaches and banks seek to optimize their funding structures [10].

Core Viewpoint - The ongoing negotiations between creditors and Huaxia Happiness regarding its "pre-restructuring" process highlight significant disputes, particularly concerning the compliance of the pre-restructuring announcement and the company's governance procedures [1][2][3] Group 1: Financial Due Diligence - On November 21, the Huaxia Happiness creditor committee approved a resolution to authorize Ping An Asset Management to hire an accounting firm for a special financial due diligence investigation [1] - The creditor committee plans to send a working group to Huaxia Happiness starting November 24 to prepare for the financial due diligence [1] Group 2: Governance and Compliance Issues - There are disputes regarding the compliance of Huaxia Happiness's pre-restructuring announcement, with current director Wang Wei claiming he was unaware of the announcement, which he argues violates company governance procedures [2] - Wang Wei's statement is perceived as representing the stance of Ping An, which has a significant influence on Huaxia Happiness [2] Group 3: Company Response and Legal Obligations - Huaxia Happiness responded by stating that it disclosed the pre-restructuring information after receiving the creditor's application and court notification, asserting that no board or shareholder approval was necessary [3] - Another director, Feng Nianyi, emphasized that the company must act in its best interest, suggesting that the pre-restructuring process is a critical opportunity to resolve debt risks [3] Group 4: Uncertainty in Restructuring Process - The success of Huaxia Happiness's pre-restructuring efforts and the potential transition to formal restructuring remain uncertain, particularly regarding the alignment of opinions between the company and its financial creditors [4]

Group 1 - Central Plaza and its executives received a warning letter from Jiangsu Securities Regulatory Commission due to failure to timely disclose significant litigation progress and accounting treatment, affecting the accuracy of the 2025 semi-annual report [3] - Jia Rong Technology announced a stock suspension as it plans a major asset restructuring through share issuance and fundraising, with the suspension expected to last no more than 10 trading days [4] - Maiwei Co. reported a debt restructuring amounting to 371 million yuan, with an expected loss of 85.465 million yuan, which is anticipated to improve cash flow and reduce receivables risk [5] Group 2 - New World plans to use up to 850 million yuan of idle fundraising to purchase financial products or deposits, with a total of 575 million yuan already invested in such products as of September 30, 2025 [6] - Huyou Pharmaceutical received approval for a clinical trial application for HYP-6589 tablets, aimed at treating advanced non-small cell lung cancer [7] - Sunshine Nuohuo announced that its lawsuit against Hengsheng Pharmaceutical has been accepted for a second trial, with the original claim amounting to 20 million yuan [8] Group 3 - Guolian Aquatic received a warning letter from Guangdong Securities Regulatory Commission for failing to disclose non-operating fund occupation by its major shareholder, totaling 7.8 million yuan [9] - Renfu Pharmaceutical's application for the marketing authorization of a drug for ADHD has been accepted, with no similar products currently approved in the domestic market [10] - Jindi Co. signed a strategic cooperation letter with Dongpei Co. to collaborate on humanoid robot harmonic reducer assemblies and key components [11] Group 4 - Yuyuan Co. repurchased 1 million A-shares for a total of approximately 5.386 million yuan, as part of a plan to repurchase shares worth 200-300 million yuan [12] - Yuheng Pharmaceutical's executives increased their holdings by 1.12%, acquiring a total of 25 million shares [13] - Zhonghuan Co. announced plans for shareholders to reduce their stakes by 1.02% and 0.24% respectively, due to personal financial needs [14] Group 5 - Huibo Co. won a contract for the Iraq oilfield restoration project worth approximately 1.596 billion yuan, expected to significantly impact its 2026-2027 performance [16] - Dajin Heavy Industry's subsidiary signed a contract for a European offshore wind farm project valued at approximately 1.339 billion yuan, representing 35.41% of the company's audited revenue for 2024 [17]