Core Insights - The resurgence of fur fashion among young consumers is notable, with a significant increase in sales and interest in fur products, particularly during festive seasons [1][3][5] Demand Side - The demand for fur has seen a remarkable increase, with platforms like Taobao reporting a 70% increase in daily sales of fur clothing during the New Year festival [1] - Fur has historically symbolized power and wealth, and its appeal has returned as consumers seek to express status and confidence in uncertain economic times [6][8] - Young consumers are increasingly viewing fur as a sustainable fashion choice, with a focus on ethical sourcing and the longevity of fur garments compared to fast fashion [11][13] Supply Side - The fur industry is adapting to consumer preferences by offering shorter, lighter designs that are more suitable for everyday wear, moving away from traditional heavy styles [18][20] - Innovations in fur processing have led to softer, lighter materials that enhance comfort while maintaining warmth, making fur more accessible to younger buyers [20][21] - The rise of "light fur" accessories, such as collars and cuffs, allows consumers to engage with fur fashion at a lower price point, with sales of fur accessories on platforms like Taobao increasing by over 80% [21][23]

Group 1 - The core focus of the Milan Winter Olympics is the aesthetic competition of national team uniforms, with Li Ning's blue and white design for the Chinese team generating significant buzz on social media [1] - Li Ning has regained the partnership with the Chinese Olympic Committee after 22 years, taking over from Anta, which held the core resource for 16 years [1] - Anta, while no longer a partner of the Chinese Olympic Committee, continues to expand internationally as an official supplier to the International Olympic Committee [4] Group 2 - International brands like Adidas and Moncler are providing full Olympic gear for multiple countries, with Moncler emphasizing visual storytelling through design [7][16] - The Winter Olympics serve as a critical marketing platform for sports brands, creating a marketing loop that extends beyond the event itself [8][19] - Li Ning aims to leverage the historical participation scale of the Chinese team to enhance global exposure and brand recognition during the Winter Olympics [8] Group 3 - Anta's strategy includes focusing on Southeast Asia, with significant revenue growth reported from this region [12] - Other domestic brands like Decathlon are also gaining traction by becoming official suppliers for multiple countries, enhancing their international presence [13][14] - The marketing strategies of domestic brands are increasingly aligning towards professionalism, high-end positioning, and globalization [15] Group 4 - The Winter Olympics, while generating substantial exposure, face challenges in translating this into long-term consumer engagement compared to the Summer Olympics [29] - The technical and cost barriers associated with winter sports limit broader public participation, making winter sports gear perceived more as professional tools than everyday items [29][32] - The design constraints imposed by cold weather and functional requirements can diminish the aesthetic appeal of winter sports apparel [29][32]

Core Insights - The 2026 Short Drama Spring Festival has begun, showcasing a significant shift in content strategy among major platforms, moving from quantity to quality and user retention [1][2] - Platforms are focusing on customized content for the Spring Festival and exploring new avenues like AI and comic dramas to capture market share [1][9] Group 1: Industry Trends - Short dramas have evolved into a significant content category, with average monthly viewing time reaching 26.09 hours, ranking just below short videos [2] - The growth rate of monthly active users for platforms like Hongguo Short Drama has slowed, indicating a shift from expansion to competition for existing users [2][3] - The average production cost for short dramas has increased by 30% to 50%, making million-level investments standard for top projects [3] Group 2: Platform Strategies - Hongguo Short Drama has implemented a comprehensive strategy for the Spring Festival, including high-profile content scheduling and interactive user engagement activities [6][10] - Tencent has launched the "Fire Dragon Comic Drama" app, integrating AI and comic elements to align with user habits on short video platforms [9][12] - Kuaishou has extended its content supply period to 1-3 months, aiming to increase user engagement during the Spring Festival [8][10] Group 3: Competitive Landscape - The competition for quality short dramas is intensifying, with platforms vying for top talent and unique content to differentiate themselves [4][10] - The comic drama sector is becoming a critical battleground, with multiple platforms, including Baidu and iQIYI, launching their own comic drama apps [14][15] - Red Fruit Short Drama has achieved over 100 million daily active users and 275 million monthly active users, indicating strong market presence [12]

10亿现金红包、"元宝派"AI社交新玩法，春节将至，腾讯在AI领域甩出了两记大招。马化腾在年会上罕 见地高调表示："希望元宝的10亿元红包能重现当年微信红包的盛况"。 但美好的愿景远没能持续到春节，2月4日，腾讯元宝春节活动的第四天，元宝红包链接在各个群聊逐步 铺开，迅速传播之际，元宝红包的链接突然被微信屏蔽，显示为一个网址，用户只能通过浏览器打开。 一把手高调开头、祭出社交底牌，却在短短几天之后，就被自家头牌应用屏蔽链接，如此操作令人迷 惑。而另一边，阿里迅速整合所有资源，提升千问agent能力，30亿的"春节请客计划"，让千问迅速登 顶App Store榜首，字节手握先发优势的同时，还成为央视春晚独家AI云合作伙伴，注定不会缺席AI的 春节大战。一时间，腾讯失去产品创业能力的质疑甚嚣尘上，股价接连走弱，于2月5日盘中跌破5万亿 港元。 01 元宝还能奇袭击吗 利用新春佳节，甚至更具体说，在春节时候利用发红包的形式为应用拉新、引流，都已不是什么新鲜 事。最有名的案例同样来自腾讯，2015年春晚，微信红包首度亮相，首次推出的"摇一摇"一晚互动总量 超过110亿次，成功绑定银行卡超1亿张，一晚上走完支付宝8年的 ...

Core Insights - The article discusses how local public transportation systems are adapting to meet the needs of travelers, especially during the pre-Spring Festival period, by offering specialized routes that connect popular shopping areas and attractions [1][32]. Group 1: Customized Public Transport Solutions - Several cities are introducing dedicated bus lines to facilitate shopping for local specialties, such as clothing and footwear, making it easier for travelers to access these products without the hassle of driving or navigating complex routes [5][9]. - In Jinjiang, a special bus line was launched to connect major shopping districts and transportation hubs, allowing passengers to shop for discounted clothing directly at brand parks without needing reservations [5][7]. Group 2: Culinary Experiences via Public Transport - In cities like Liuzhou and Nanning, public transport routes have been designed to guide travelers to popular local food spots, such as the famous snail noodles, enhancing the culinary experience without the need for extensive planning [15][19]. - The introduction of food-themed bus lines allows passengers to explore local cuisine conveniently, with routes marked by food-related decorations and information about nearby eateries [17][19]. Group 3: Scenic and Cultural Exploration - In Wuhan, unique buses with themed designs are used to provide a scenic tour of historical districts, complete with onboard narration about the local history and architecture, making the journey itself a part of the travel experience [27][29]. - The concept of "bus walk" is highlighted as a way to enjoy the journey, where passengers can appreciate the scenery, taste local food, and learn about the culture, transforming public transport into a more engaging experience [32].

Core Viewpoint - NetEase's Q4 2025 earnings report showed disappointing results, primarily due to a slowdown in mobile gaming revenue, which fell short of market expectations. However, the long-term outlook remains cautiously optimistic, with a focus on upcoming product cycles being crucial for short-term performance [1][6]. Group 1: Revenue Performance - Q4 gaming revenue reached CNY 213 billion, a year-on-year growth of 3.5%, significantly below market expectations due to a lack of new game releases and the performance of existing titles [1][10]. - Deferred revenue grew by 34% year-on-year, exceeding market expectations, driven by the anniversary celebration of "Yanyun" and a rebound in "Egg Party" [2][12]. - The absence of new mobile games has led to continued pressure on mobile revenue, with key titles like "Identity V" and "Naraka: Bladepoint" experiencing declines [15][25]. Group 2: Cost Management and Profitability - Core operating profit margin improved to 30%, reflecting effective cost control amid revenue pressures, with total costs, R&D, and management expenses declining year-on-year [3][39]. - Non-GAAP net profit was CNY 72 billion, significantly lower than market expectations due to investment losses, while core operating profit was CNY 83 billion, only slightly below expectations [43][46]. Group 3: Shareholder Returns - The company announced a special dividend of approximately CNY 50 billion for Q4, maintaining a high payout ratio of over 80%, although the overall shareholder return remains low at 2.5% relative to its market capitalization [4][46]. - Total shareholder returns for the year amounted to USD 2 billion (CNY 141 billion), which is not considered sufficient to provide effective support for the stock price [4][46]. Group 4: Business Segment Performance - Other business segments, such as Youdao Education and Cloud Music, showed stable performance, with Youdao's revenue growing by 17% driven by advertising and online courses, while Cloud Music returned to growth [34]. - The innovative services segment, primarily focused on e-commerce, continued to shrink due to competitive pressures [34].

林赛·沃恩的重伤也让FIGS及其代表的健康功能服装这门生意面临着前所未有的质疑，当一位投资且代言了该品牌的顶级运动员，依然在赛场上接连遭遇 重伤，这些被赋予技术故事和防护承诺的服装，其形象显然受到重大冲击。 2026年米兰-科尔蒂纳冬奥会开赛数日，赛场上空似乎弥漫着一层例行公事的平静，直到2月8日这天。 在意大利科尔蒂纳著名的"奥林匹亚-德勒-托法纳"赛道上，41岁的美国滑雪传奇Lindsey Vonn（林赛·沃恩）在高山滑雪女子滑降项目中高速滑行时失控， 左腿骨折，被直升机紧急送离。这位五战奥运、带着人工膝盖重返赛场的传奇运动员，以最残酷的方式登上了头条。 而就在一周前，她刚刚遭遇了交叉韧带断裂，但与此同时，一个与她紧密相关的商业故事也正在被反复营销。作为医疗服装品牌FIGS的长期投资人和品 牌大使，她在广告中感谢她的医疗团队"塑造了打破纪录的身体"。FIGS正是本届冬奥会美国队全体医护人员的官方服装赞助商。 于是，一个极其矛盾的场景出现了，FIGS通过赞助，将品牌植入顶级运动队的健康保障体系；但当其代言人本人遭遇严重运动损伤、需要这套保障体系 施救时，品牌所宣扬的健康属性，实则是医护人员的舒适与专业形象— ...

这个春节，一场总额超45亿元的"AI红包大战"骤然打响。 阿里千问以30亿"请客"开路，用"帮我买杯奶茶"的真实交互，将AI推入千万订单的洪流；腾讯元宝、字节豆包、百度文小言等头部玩家悉数入局。当流量 海啸引发系统崩溃、社交裂变遭遇平台封禁，这场对"未来超级入口"的极限压力测试，揭示了技术、生态与用户体验间的激烈碰撞。 就在各大应用以红包补贴激烈争夺用户入口的同时，另一场决定未来竞争格局的"军备竞赛"已在底层技术领域悄然升级。 近期，字节跳动最新视频生成模型Seedance 2.0在旗下即梦、豆包、小云雀等产品开启内测，其表现迅速引发行业内外高度关注。有消息称，字节跳动正 在加快该模型的商业化步伐。Seedance 2.0预计最快有望于2月24日对外开放API接口。 01 三十亿流量奇袭 服务稳定性面临更大考验 这个春节，中国AI赛道迎来了一场现象级的"压力测试"。主角是阿里的千问APP，它用一场简单粗暴的撒钱运动，将实验室里的大模型，一把拽进了点奶 茶、叫外卖的真实生活。整个过程，如同一部节奏紧凑的商战剧，高潮与崩坏齐飞，流量与吐槽并存。 故事的起点是一场精准的"闪电战"。2月5日，阿里宣布将"通义千问"等 ...

（近90天，TrueShort在美国新闻应用榜排名情况，图源：点点数据） 风口之下，无数人涌入高付费的美国市场去拍霸总、狼人、复仇等题材的短剧，但随着内容的增多，传统的剧情、老套的桥段也让观众出现了一定的审美 疲劳。人们需要新的"爽点"，市场也需要更多创新。 比如，悬疑类的短剧，就成了一个很特别的突破点。 就像2020年，爱奇艺《隐秘的角落》《沉默的真相》爆火，并在Netflix上线，在全球多个地区播出，成为了平台"迷雾剧场"的口碑巅峰之作。这种创新叙 事，用12集短剧的形式打造的现象级内容，再度让悬疑赛道的受到关注。甚至在后面的很长一段时间，人们提到悬疑剧，就会去认准"迷雾剧场"，想到爱 奇艺。这种背景下，大众的关注点也不再单纯放到剧情本身，而是延伸到对人性、社会问题的深度思考。 类似的路径，在美国初创公司Humans Anonymous推出的本土短剧平台TrueShort中同样上演。据TrueShort官方数据显示，平台于2025年4月上线，仅6个 月ARR达到240万美元，总用户观看时长超过200万分钟。近期在App Store新闻类应用中排名第10。 在60秒的碎片里，剥开人性"迷雾" 首先来看下Tr ...

现在的你，萎靡不振、毫无动力，心里已经开始盼着假期。和绝大多数职场成年人一样，平时你会利用空闲时间休息，也许会一口气刷完喜欢 的剧，或是在手机上划划屏，又或者补补觉。但不知为何，每当工作日来临，你却从未感到如期望中那般神清气爽。你不禁会想：有没有更好 的方式来恢复精力呢？ 在过去几年里，我们研究了"休闲规划"，这是一种积极主动安排空闲时间的方式，强调设定目标、建立人际联系、学习和个人成长。研究发现，与消极的 活动相比，这种方式对幸福感、心理健康、整体生活满意度，甚至工作表现都更有益处，同时还能预防倦怠。而且，它并不需要比单纯休息更多的时间， 只需要在方式上做一点小小的改变。 什么是休闲规划？ 休闲规划不在于你在空闲时间做什么，而在于你怎么做。它要求你带着目的性和成长型思维，去安排自己本来就喜欢做的事情。规划休闲活动，意味着使 其： 1）帮助你设定个人目标 2）促进社交联系 3）培养技能或让你学到东西 虽然这些准则较为宽泛，但在实际操作中有多种实现形式。 但由于这些研究只是观察人们原本的行为，我们决定再进行一项实验，让之前没有进行休闲规划的参与者参与相关行为，并检验结果。 在一项为期四周的随机试验中，我们将25 ...