近日，有着月子中心"爱马仕"之称的圣贝拉正式登陆港交所，上市首日便大涨33.74%，市值最高飙升至53.66亿港元。 不过，在行业人士看来，此次上市更像是孤注一掷。根据财报显示，圣贝拉近年来虽然营收不断上涨，但净利润持续为负，亏损总额当前已来到7.73亿 元，而在巨大的资金压力下，上市成为了松绑的唯一选择。刚好，港交所在2025年5月推出了"科企专线"政策，这让圣贝拉看到了机会，于是将月子中心 与医疗、科技相结合作为估值支撑点，最终得以顺利上市。 | 序号 | 1541 | 企业画像 | 最新上市申请时间 | 上市交易所 | | --- | --- | --- | --- | --- | | 1 | Babycare | 新一代母婴家庭一站式、全品类解决方案商 | 2023年9月 | 上交所 | | 2 | 韦拓生物 | 辅助生殖实验室试剂和耗材 | 2024年3月 | 港交所 | | 3 | 东蕴医疗 | 辅助生殖冷冻及培养技术解决方案提供商 | 2024年6月 | 上交所 | | 4 | 爱维艾夫 | 辅助生殖医疗集团 | 2024年10月 | 港交所 | | ર | 纽曼思健康 | 高端母婴营养食品企业 ...

有人说，在上海，掉块砖头都能砸到10个主理人；吐槽博主和脱口秀演员已经开始编排主理人的段子；有媒体开始讨论所谓的「主理人经济」；还有人急 火火上了「主理人」的车，尝试在里面捞一桶金，但最终却草草收场。 「主理人」，这个曾经还逼格满满的词，是从什么时候开始变得如此「一地鸡毛」？又为什么会这样？ 01 不知从何时起，我们的生活被「主理人」包围了。 周末的创意市集，十个有八个摊主名片上印着「手作/陶艺/XX主理人」；手机一滑，社交媒体的时间线上，从咖啡烘焙、中古家具，到塔罗占卜、宠物美 容，人人皆可「主理人」；甚至打开微信搜主理人，就能搜出来两三个ID挂着这名字的好友——这个词汇的浓度，已经高到令人无法忽视，甚至有点无 法直视。 一场标签的通货膨胀 到底什么是主理人？ 一些时尚杂志会告诉你，它最早舶来于日本潮流文化。在那个语境下，「主理人」是潮流品牌的绝对灵魂，是集创意、决策、运营乃至精神领袖于一身的 核心角色，是一个品牌的「人格化」。消费者选择一个品牌，很多时候，就是因为认可乃至崇拜品牌主理人。 传入国内后，它最初被用于形容那些在特定领域深耕的先行者——独立设计师、买手店老板、文艺空间经营者。他们用这个词，将自己 ...

Company Developments - LoBoKuaiPan has formed a strategic partnership with Uber to deploy thousands of autonomous vehicles globally, expanding its services beyond the US and mainland China [2] - Pop Mart anticipates a profit increase of no less than 350% for the six months ending June 30, 2025, compared to the same period last year, with revenue growth expected to be no less than 200% [2] - ChaBaiDao has opened its first two stores in Singapore, offering 18 beverage options priced between 2.5 and 6.9 Singapore dollars (approximately 14 to 38.6 RMB) [2] - Jianlibao has established a regional headquarters in Hong Kong and is preparing to enter the Southeast Asian markets of Indonesia, Malaysia, and Vietnam, while also expanding to Australia, Canada, and the US [3] - Anker Innovations is researching overseas share issuance to enhance its global strategy and brand image, although no specific plans have been confirmed yet [3] - AUX Electric has submitted a listing application to the Hong Kong Stock Exchange, with overseas markets becoming a key focus for its growth [3] - Bourn Optical is reportedly considering restarting its IPO plans in Hong Kong, having begun preliminary discussions with advisors [4] - Temu plans to enter the German food market, aiming to expand its product offerings in Europe [4] - TikTok Shop has launched the Q3 Southeast Asia Cross-Border Merchant Flywheel Plan PLUS, upgrading five policies to assist merchants in going overseas [5] - Meta is set to invest hundreds of billions in artificial intelligence, with expectations to become the first to launch a 1GW+ supercluster [5] - OpenAI has released ChatGPT Agent, capable of autonomous thinking and tool selection for complex tasks [5] Macro Policy & Industry Trends - The consumer electronics industry is accelerating its globalization efforts, with companies like Lens Technology and Luxshare Precision pursuing listings in Hong Kong to enhance their global presence [6] - China's industrial robot exports grew by 61.5% in the first half of the year, reflecting the country's innovation in the robotics sector [6] - In the first four months of this year, China's exports of dolls and animal toys exceeded 10 billion RMB, reaching 13.31 billion RMB, with a growth rate of 9.6% [7] - China's total goods trade imports and exports increased by 2.9% year-on-year in the first half of the year, with exports growing by 7.2% [7] - China's foreign investment has seen an average annual growth rate of over 5%, maintaining a top-three position globally [7] Investment & Financing - MiniMax has nearly completed a new financing round of approximately $300 million, with a post-financing valuation exceeding $4 billion [9] - Zhiyuan Robotics has received strategic investment from Charoen Pokphand Robotics, marking the beginning of its global expansion [9] - XPeng Huitian has completed a $250 million Series B financing round to support the development and commercialization of its flying cars [10] - Blue Dot Touch has completed nearly 100 million RMB in Series B financing, aimed at product development and overseas market expansion [10]

Core Insights - The article discusses the rising trend of AI learning machines as a response to parents' concerns about their children's education during summer vacations, highlighting a shift from traditional study aids to advanced AI-driven solutions [1][4][5]. Group 1: Market Trends - AI learning machines are increasingly viewed as essential tools for personalized education, acting as "AI home tutors" that provide 24/7 support and tailored learning experiences [4][5]. - The demand for AI learning machines has surged, particularly during the summer months, as parents seek effective solutions to manage their children's learning outside of school [1][4]. Group 2: Consumer Behavior - Parents are showing a growing understanding of AI learning machines, actively seeking in-store experiences to validate their purchasing decisions [5][9]. - The presence of children in stores influences parents' buying behavior, as kids are drawn to interactive features of learning machines [42][51]. Group 3: Product Differentiation - The AI capabilities of learning machines have become standardized across various price points, with essential features like homework correction and learning diagnostics now available in mid-range models [19][23]. - High-end models differentiate themselves through superior hardware and advanced AI functionalities, with brands like iFLYTEK leading in sales of premium devices [37][41]. Group 4: Brand Strategies - Companies are adopting different strategies to stand out in a competitive market, with tech-focused brands emphasizing their proprietary AI models and educational content [24][30]. - The integration of AI with human tutoring services is becoming a popular selling point, addressing parents' concerns about the reliability of AI alone [31][34]. Group 5: Consumer Trust and Expectations - Parents are increasingly discerning, valuing practical functionality and long-term service commitments over brand loyalty [68][69]. - Building trust through transparent communication and effective product demonstrations is crucial for brands to secure customer loyalty in the evolving educational technology landscape [67][70].

只要进过夏天做饭的厨房，基本就能秒懂孙悟空过火焰山为啥要借芭蕉扇。 所以两年前新房装修时，江苏白领谢悦坚持要在厨房装一台空调。这时她才在家电城里发现，居然真的有专门的"厨房空调"。 用了两年，谢悦的满意度溢于言表："在厨房待一天都没事儿。" "厨房空调"乍一听有点"又新又旧"，空调常见，但在厨房里开空调好像还是一件挺陌生的事情。不过关心这件事的人着实不少，小红书上该话题浏览量接 近4000万，抖音话题播放量更是高达2.7亿次。 特别是高温天越来越多，厨房空调的热度与气温同飙，巨量算数数据显示，近30天（6月18日—7月18日）"厨房空调"关键词搜索指数同比增长约29%，环 比增长约146%。 图/巨量算数 于是问题来了，为什么厨房空调这么好的东西到现在还没普及？ 不想在厨房吃苦 厨房恐怕是整个家里最需要空调的地方。充斥着热水热油热气的厨房堪比蒸锅，夏天做饭，说汗流浃背实在太过客气，那是真正的满"汗"全席。 可为什么一直没什么人在厨房装空调？有一个特别直接的原因是，很多人压根儿没想到。 GfK中国发布的《2025年中国厨房空调产品消费指引白皮书》显示，直到2024年，对于厨房空调产品有了解的消费者占比还不到1/ ...

他提炼了四种用来判断哪些公司会蓬勃发展的可靠特质——商业模式、假设、战略和管理（简称BASM）。他认为，BASM对于挑选蓝筹股和成长股都很 重要，对于挑选成长股更为重要。此外，他还提出七步走法则来教读者管理自己的投资组合。 本文摘录自书籍第三章《持有与耐心，创造财富之道》部分内容（内容有删减），我们经授权转载。 文丨弗雷德里克·R.科布里克 编辑丨林伟萍 编者按 弗雷德里克·R.科布里克（Frederick R. Kobrick）是美国著名的成长股基金经理，有30多年的基金管理经验。他管理的"道富研究资本基金"被《今日美国》 评为 15年中最优秀的5只基金之一；管理的"资本增值基金"被《金钱》杂志列入"10年六大基金"之一。 著名投资家彼得•林奇称赞弗雷德里克"是我见过的最棒的选股专家之一！"彼得林奇认为，弗雷德里克的新书《大钱——如何选择成长股》中给投资 人，"展示了如何简单发现牛股，为投资者开辟了一片新天地。" 在本书中，弗雷德里克提出，找到卓越公司并耐心地长期持有其股票，将获得巨大的财富！要实现目标涉及两个非常关键的问题：第一，如何选股，也就 是如何找到最优秀的公司；第二，如何持股，也就是如何才能真正做 ...

编辑 | 邢昀 「核心提示」 在今年黄仁勋第三次中国大陆行的同时，英伟达H20芯片对华出口的通道再次打开，但问题还没有解决。 作者 | 张力 黄仁勋最近很忙，忙着穿唐装、秀中文、接受采访。链博会之前，他还抽空与雷军见了一面。 俩人上一次在中国公开见面，还是2013年小米3的发布会上，黄仁勋在台上高喊"我也是米粉！"他借小米的台子为英伟达打广告，喊 出"我们公司做的GPU是世界最棒的"！ 在2025年之前，他的中国行程似乎并不多。帮小米站台后，公开报道中他只在2019年来过中国，参加英伟达GTC大会。而英伟达在中 国市场的拓展从手机芯片，延伸到人工智能、汽车智驾等领域。公司中国团队日渐成熟，如今有约4000名员工，分布在北京、上海、 深圳等地。 2022年10月、2023年10月，美国连番升级对中国半导体的制裁，英伟达的A100、H100等产品被禁止出口中国，黄仁勋的好日子就过去 了。 虽然通过"特供版"芯片绕开监管仍有路可走，但到2025年4月，"对华特供版" AI 芯片产品 H20被美国政府管制，需"无限期"申请许可 证，最严AI芯片禁令下，英伟达中国区业务陷入停滞，尤其是营销相关部门的员工，大家都无所事事 ...

Core Viewpoint - Vanke is undergoing a significant organizational restructuring, moving from a multi-tiered regional company structure to a more centralized model with a focus on efficiency and reduced management layers [1][3]. Group 1: Organizational Changes - Vanke plans to abolish all regional companies, transitioning to a two-tier management system consisting of headquarters and regional general companies [1]. - The current structure includes five regional companies and two directly managed companies, which will be reduced to regional general companies similar to the Northeast and Northwest regions [1][5]. - The restructuring aims to streamline operations, reduce management levels, and enhance centralized management, with a focus on frontline business operations [1]. Group 2: Management Changes - A major leadership change is expected by the end of January 2025, with the resignation of key executives including Yu Liang and Zhu Jiusheng, and the appointment of Xin Jie from the major shareholder, Shenzhen Metro [2]. - This leadership shift is part of a broader strategy to adapt to the changing real estate market and improve organizational efficiency [2]. Group 3: Industry Context - The restructuring at Vanke is in line with trends among major real estate companies like China Resources and China Merchants, which are also reducing management layers in response to market conditions [3]. - Since 2021, the real estate industry has been shifting from aggressive expansion to a focus on core cities, leading to a reduction in the number of projects and cities managed by companies [3].

Group 1 - Uber is investing hundreds of millions of dollars to develop its own Robotaxi fleet in collaboration with Chinese Robotaxi companies and the L4 company Nuro, founded by a Fudan University alumnus [1][2][5] - The plan involves deploying over 20,000 Robotaxis in the U.S. over the next six years, averaging 833 vehicles per quarter [2][5] - The initial Robotaxi fleet is expected to launch in 2026, with Uber providing exclusive services [5][14] Group 2 - Uber will invest $300 million (approximately 2.15 billion yuan) in Lucid, which will supply the vehicle platform, while Nuro will receive significantly more funding for its L4 technology [5][7] - The Robotaxi will utilize Lucid's Gravity SUV, which has a range of 450 miles (approximately 724.2 kilometers) and a starting price of $79,000 (about 574,000 yuan) [9][11] - Nuro will provide the core L4 autonomous driving technology, including software and safety case development, using its latest Nuro Driver system [11][25] Group 3 - Nuro has a history of success in the autonomous delivery vehicle sector and has pivoted to focus on L4 technology due to market demand [21][23] - The partnership with Uber is seen as a strategic move for both companies, with Uber needing reliable partners and Nuro seeking external funding [14][25] - Nuro's autonomous vehicle fleet has operated over 1 million miles (approximately 1.61 million kilometers) without major safety incidents, reinforcing its reliability [25] Group 4 - Uber has been actively forming partnerships with leading Robotaxi players, including collaborations with Chinese companies and Waymo, indicating a competitive landscape in the Robotaxi market [27][28] - The expansion of Robotaxi services by competitors like Tesla and Waymo highlights the increasing competition in the autonomous vehicle sector [28][30]

Group 1: Financing Activities - Guangdong Orange Emperor Health Management Co., Ltd. completed a 10 million yuan angel round financing to enhance its internet hospital platform, expand health product supply chain, and promote brand chain store development [1] - Corn Technology Co., Ltd. announced the completion of Series A financing to drive technological innovation and market expansion for its fresh corn juice products [2] - Chengdu Fenglan Times Catering Management Co., Ltd. secured 50 million yuan in Series A financing to deepen supply chain construction, accelerate store expansion, and invest in product development [3] - Lingjing AI completed several million yuan in angel round financing to accelerate the development of multi-modal generation architecture in the AI animation field [4] - Yingmu Technology completed over 150 million yuan in B+ round financing to focus on next-generation product development, AI core capability construction, and offline scene expansion [5] Group 2: Company Developments - The acquisition of 85% equity of Dayao Soda by KKR has progressed, with the transaction expected to start this year, potentially leading to national and international expansion [6][7] - Dayao Soda's operational team remains stable, and its nationalization and youth-oriented strategies will continue unchanged post-acquisition [7] - Dayao Soda has established over a thousand national distributors and a million retail terminals across 31 provinces, indicating a strong market presence [8] Group 3: Market Trends - Douyin has denied plans to enter the takeaway market, focusing instead on in-store services, as its takeaway business has faced challenges compared to established competitors [9] - ByteDance refuted claims regarding the sale of TikTok's U.S. operations to Oracle-led consortium, with ongoing negotiations requiring government approval [10] - Xiaohongshu has rebranded its slogan to emphasize community and interests, aiming to enhance user engagement and growth [11] - Xiaohongshu announced the creation of "RED LAND," an open-world adventure event targeting gaming and anime enthusiasts, reflecting its commitment to the two-dimensional market [13] - Sweet Lala launched a new fruit and vegetable tea series in collaboration with Giant Network's game IP, focusing on health and affordability [14] Group 4: Industry Insights - The "2025 China Online Retail Top 100" report indicates that 25 consumer goods companies achieved double-digit growth, with total online sales reaching 2.17 trillion yuan, a 13.6% increase [15] - The summer box office has reached 3.5 billion yuan, showing a lukewarm performance compared to other entertainment sectors [16] - In June, 33 Chinese game companies collectively earned 1.76 billion USD, with Diandian Interactive maintaining a strong position in global mobile game revenue rankings [17] - The takeaway battle has driven significant sales growth for both restaurant and instant retail brands on platforms like Taobao, with many brands reaching historical sales peaks [18]