2025年，脑机接口是投资人眼中当之无愧的抢手货。 这不仅因为今年开春以来，政策红利不断释放，给了行业一剂强心针——"脑机接口"被列入未来产业十 大标志性产品；国家医保局专门为脑机接口新技术价格单独立项；湖北省更是在全国率先出台首个脑机 接口医疗服务价格标准。 更重要的是，国内布局了多年的植入式脑机接口的创业公司，今年纷纷迎来了从实验室迈向临床试验的 里程碑——全国多家医院开设了脑机接口临床研究病房，覆盖帕金森、癫痫、抑郁等多种疾病，并计划 于 2025 年下半年启动全植入体微系统的大规模临床实验。各家公司瞄准第一张脑机接口医疗器械许可 证，商业转化迎来新的希望。 "脑机接口"这个名词，乍一听充满未来科技感，几年前，马斯克几乎以一己之力带火了这个名词。2022 年时，马斯克宣称将正式开始将脑机接口的芯片植入人的大脑，让无法行走或者手臂无法活动的人，可 以通过脑机接口技术恢复他们的行动能力。 在医学工作者的眼中，这也算不上是纯粹的"吹牛"。 从事脑神经研究的医学科学家的想法一向很直白：用这个工具，进行脑疾病医学中的脑保护、康复替代 和具体治疗。 2019年前后，国内一批科研人员掀起了一波创业潮，医疗+脑机接口领 ...

Core Viewpoint - The corruption case involving the former CEO of Ele.me highlights significant failures in supply chain management and internal controls, leading to a systemic issue of bribery and misconduct within the company [1][3][4]. Group 1: Corruption Case Details - The Shanghai police reported the arrest of seven suspects in a bribery case involving over 40 million yuan, with the former CEO of Ele.me, Han Liu, being a key figure [1]. - Han Liu and others exploited their authority in logistics and supplier management to gain improper benefits for suppliers, creating a complete chain of interest transfer [2]. - The corruption persisted for nearly two years before being discovered internally in early 2025, when Ele.me reported the findings to the police [4]. Group 2: Systemic Issues and Governance - The concentration of power in the logistics operations of Ele.me, particularly in supplier selection and resource allocation, lacked transparency and effective checks and balances [3]. - The absence of a robust internal monitoring structure allowed suppliers to engage in bribery to secure their positions and gain preferential treatment [3][5]. - The case raises concerns about the effectiveness of Ele.me's anti-corruption systems and the governance structures in place, indicating a need for improvement in compliance and transparency [5][6]. Group 3: Implications for ESG and Corporate Culture - The incident has tarnished the reputation of Alibaba's ESG efforts, which had previously been considered advanced in the industry [6][7]. - Internal corruption undermines employee trust in the company's integrity and can lead to decreased morale and talent attrition, as well as damaging the perception of fairness among suppliers [9]. - The case serves as a warning for internet platform companies regarding the importance of integrating governance responsibilities into operational risk management, particularly in supplier management and decision-making processes [14][15].

诗歌原文： ཡར་མཆོག་དཀར་མོར་ཕ་འདང་ཡོད། ། མར་མཆོག་དཀར་མོར་མ་འདང་ཡོད། ། འུར་མཐིལ་སྒོར་མོར་སྤུན་འདང་ཡོད། ། རྡོ་མཉམ་འཕེན་བྱས་ན་སྐྱིད་ཅིག་ཡོད། ། 上绳皎皎如严父， 下索皑皑如慈母， 网兜团团如手足， 同挥石子乃至乐。 ——藏族民间诗歌 火车从西宁出发，途经青海湖，路过格尔木，窗外的风景也随之流转，从河湟谷地切换至草原，随后是戈壁。原以为这趟旅程会这样顺利地进行下去，直 到凌晨三点，高原反应如一记闷拳砸来。 当我浑身瘫软地蜷缩在卧铺床上，感受到自己擂鼓般跳动的心脏，短促而轻浅的呼吸时，我知道自己到那曲，到藏北羌塘草原了。 11. 154 1895 19 1200 0 11 st 拍摄/达佤央金 春天在这里是一个暧昧的概念，即使快到五月，大地也丝毫不见解冻的征兆。雪是常下的，有时候还夹带着冰雹。而正是在这样的一片天地间，我们遇到 了玛森、色珍和德庆卓玛等一众本地民间手工艺人。 当我告诉他这一次我们拍摄的主题是牧区的编织时，他从柜子里拿出一捆自己做的乌尔朵。这是一种由牦牛毛和羊毛搓捻编织而成的投 ...

Group 1 - Meta has appointed Shengjia Zhao, a Tsinghua University alumnus, as the Chief Scientist of its Superintelligent Lab (MSL) [1][2] - Mark Zuckerberg expressed excitement about Zhao's leadership and his groundbreaking contributions in various fields, emphasizing the formation of a high-density talent team for long-term development [4][28] - Zhao has a strong academic background, having graduated from Tsinghua University and earned a PhD from Stanford University, focusing on large model architectures and multimodal reasoning [12][21] Group 2 - Zhao was a core member at OpenAI, significantly contributing to the design of GPT-4 and other models, and has been involved in key technical paths such as model reasoning and safety mechanisms [15][17] - His work includes being a primary author of the highly cited "GPT-4 Technical Report," which has over 17,000 citations, making it one of the most referenced documents in contemporary AI [18][19] - The MSL team includes several researchers from OpenAI, with a notable representation of Chinese talent, indicating a strong focus on advanced AI research [24][27] Group 3 - Despite Zhao's appointment, Yann LeCun, a Turing Award winner, will continue as the Chief Scientist of FAIR, which focuses on long-term AI research [10][11] - The MSL aims to push the frontiers of superintelligent research, with a commitment to aligning AI with human needs [8][28] - The high percentage of Chinese members in the MSL team has led to discussions about the efficiency of communication within the team [25][27]

Core Viewpoint - The article discusses the success and cultural significance of the animated film "The King's Avatar 2," highlighting its high ratings and audience reception, while also reflecting on the growth of the IP and its impact on viewers' lives [6][7][47]. Group 1: Film Overview - "The King's Avatar 2" was released after a six-year hiatus, following the success of the original series and the first film, which grossed 300 million yuan [6][4]. - The film has received an impressive rating of 8.6 on Douban, making it the highest-rated domestic film of 2025 so far [7][6]. - The film's narrative continues to explore the adventures of the main character, Xiao Hei, in a world where humans and spirits coexist [10][20]. Group 2: Audience Engagement - The film has successfully attracted a diverse audience, with many viewers expressing that watching it was one of their happiest moments of the year [7][6]. - The production team aimed to create a film that is accessible to both children and adults, ensuring that the humor and storyline resonate with all age groups [12][15]. - The film's characters and storylines reflect modern Chinese culture, making it relatable to local audiences [24][27]. Group 3: Production Insights - The production team has expanded significantly, growing from a small group to over 80 members for the second film, indicating a commitment to quality and detail [44][51]. - The animation process involved over 200,000 hand-drawn frames, showcasing the dedication and effort put into creating fluid and engaging visuals [38][40]. - The film's budget has increased compared to the first installment, allowing for enhanced production quality and storytelling depth [43][49]. Group 4: Market Position and Future Plans - The film's success is seen as a positive sign for the domestic animation industry, which has faced challenges in recent years [47][49]. - The production team is focused on maintaining the IP's relevance and quality, with plans for future projects already in development [49][50]. - Merchandise related to the film has seen strong sales, indicating a robust fanbase willing to support the franchise beyond just box office revenue [51][52].

Core Viewpoint - The article discusses the emergence of ChatExcel, an AI-powered office tool that simplifies Excel data processing through conversational input, highlighting its rapid adoption and the strategic vision of its CEO, Tang Dahuai, in navigating the competitive landscape of AI and SaaS [3][6][41]. Group 1: Product Overview - ChatExcel is an AI office assistant that allows users to interact with Excel through text commands, eliminating the need for manual formula entry [6][28]. - The product was launched in beta on February 28, 2023, and achieved a peak daily active user count of 150,000 within two weeks, with over 10 million unique visits [7][30]. - The tool is positioned as a "data intelligence agent," initially targeting consumer users (ToC) before expanding to business clients (ToB) [8][28]. Group 2: Market Strategy - The company aims to leverage the current AI wave by first establishing a consumer base before transitioning to enterprise solutions, believing that user demand for AI tools is strong [5][41]. - Tang Dahuai emphasizes the importance of understanding user needs and iterating the product based on feedback, which has led to a significant increase in enterprise interest since mid-2023 [31][41]. - The pricing strategy includes a monthly subscription of 25.9 yuan and an annual fee of 99 yuan for individual users [51]. Group 3: Competitive Landscape - The CEO argues that competition from larger companies does not deter their progress, as they have maintained growth despite the presence of established players [34][35]. - The company differentiates itself by focusing on a comprehensive data processing approach, addressing data security concerns, and ensuring that sensitive information remains within the user's network [27][45]. - The team believes that the current market environment favors innovative startups, as users are increasingly willing to adopt new AI solutions [37][63]. Group 4: Future Directions - The company is exploring international expansion, with plans to launch an English version of ChatExcel and test the product in North America and Europe [57][60]. - There is a focus on continuous product iteration and maintaining user engagement through regular updates and improvements [39][40]. - The team is also considering the development of edge models to enhance enterprise service capabilities while managing delivery costs effectively [54][56].

Group 1 - The core viewpoint of the article highlights a shift in the branding strategies of sports companies, moving from a focus on extreme competition to a more inclusive and enjoyable approach to sports, particularly appealing to Generation Z [1][2][16] - Adidas has updated its long-standing slogan from "Impossible Is Nothing" to "You Got This," emphasizing personal sports experiences rather than extreme challenges [1][8] - Other brands like HOKA and lululemon have also changed their slogans to reflect a focus on enjoyment and personal experience in sports, indicating a broader trend among both established and emerging brands [3][12][13] Group 2 - The changing slogans of major sports brands reflect a transformation in brand identity, targeting the new consumer base of Generation Z, who prioritize personal experience over celebrity endorsements [3][19][30] - The standards for what constitutes "good" in sports are becoming more diverse and inclusive, moving away from a strict focus on performance to a broader acceptance of various forms of participation [4][25][32] - The rise of community-focused flagship stores and the emphasis on inclusivity in marketing strategies are becoming essential for brands to foster a sense of belonging among consumers [6][31][33] Group 3 - The trend of prioritizing personal experience and enjoyment in sports aligns with the growing popularity of "self-pleasing consumption" among younger generations [20][34] - Brands are increasingly recognizing the importance of mental well-being alongside physical fitness, with a significant portion of consumers engaging in sports for emotional management [34][36] - The article notes that traditional sports brands are facing challenges in growth and are adapting by embracing lifestyle branding, which blurs the lines between sports and everyday life [26][35]

懂车帝周三中午开始陆续推送的"36车智驾大测试"，在整整两天之后被马斯克本人看到。 后者极尽克制但还是透露些许自豪感地写到："由于法律禁止数据出境，特斯拉在没有本地训练数据的情况下，在中国取得了最高成绩。"再次引爆了前两天 一度稍微平息的"中国车企的智驾，怎么做得还不如特斯拉？"话题。 围绕着这场测试，各种讨论和阴谋论四起，甚至有很多人当起了侦探，开始一帧一帧分析测试视频。 但在虎嗅汽车看来，专注于细节上的"找茬"反而错过此番大测试背后的全貌和真相。 懂车帝测了啥？公允么？ 简单总结测试场景如下：消失的前车真高速版、高速临时施工、施工路遇卡车、高速惊现事故车、高速入口遇野蛮加塞、莽撞横穿的猪。 图自：AI科学小栈（下同） 上图为红外夜成像图，下图为航拍俯视图 这些场景，都是属于智驾能力中的corner case（边缘案例，不是用户最常见的使用场景），但在现实中又有不少人遇到过的（高速入口强行低速加塞那个我 本人都遇到过不止一次，消失的前车也遇到过容易一些的版本）。 很多人吐槽懂车帝在测试中的"控制变量"不够好，在笔者看来，大概率不是懂车帝故意为之。实在是因为车辆测试要做到完全精准与标准，是一个耗资巨大 的活。 ...

Core Insights - Lovart, an AI design agent, has recently opened full registration after a period of high demand for invitations, indicating strong interest in the product [3][2][9] - The product has shown impressive growth, with over 100,000 registered users within five days of its beta launch and nearly one million users on the waitlist during the testing phase [7][9] - Lovart's official version has improved upon its beta version, maintaining core design capabilities while enhancing user experience and introducing innovative features like ChatCanvas [11][10][58] Product Features - Lovart integrates advanced AI models for image, video, and 3D asset generation, making it a comprehensive AI design studio [16][14] - The ChatCanvas feature allows users to interact with the design interface intuitively, enabling modifications through simple comments and facilitating a seamless design workflow [64][66][125] - The platform supports multi-modal context, allowing users to manage different design elements and styles within a single project [58][60][121] User Experience - Users can create complex designs with minimal effort, as Lovart automates many tasks that traditionally require manual adjustments [56][75][119] - The platform's ability to generate videos and audio based on user prompts demonstrates its versatility and user-friendly approach [99][105][86] - Lovart encourages creativity by allowing users to combine unrelated elements into cohesive designs, enhancing the overall creative process [121][122][128] Market Position - Lovart's rapid user growth and innovative features position it as a significant player in the competitive AI design agent market [9][10][125] - The product aims to democratize design by making it accessible to users without professional design skills, focusing on enhancing creativity rather than replacing it [127][128]

Industry Overview - The capital market's attention towards the computing power industry chain has increased with the release of Nvidia's GB300, particularly in the optical module (CPO) sector [1] - Optical modules serve as hardware devices that convert electrical signals to optical signals and vice versa, acting as a "translator" between electronic devices and fiber optic networks [1] - CPO (Co-Packaged Optics) technology integrates optical modules' core components with computing chips on the same substrate, reducing signal transmission distance [1][2] Market Dynamics - The optical communication industry consists of upstream raw materials like optical/electrical chips and PCBs, midstream optical devices, and downstream systems targeting telecom operators, cloud service providers, and data center manufacturers [4] - The CPO industry chain has a pyramid structure with uneven technology barriers and value distribution, where silicon photonic chips are crucial for optical conversion efficiency [7] - The market for optical modules is expected to grow significantly, reaching $22.4 billion by 2029, driven by high demand from cloud computing service providers and telecom operators for high-speed data modules [9] Company Analysis 1. **Tianfu Communication** - A leading provider of optical device solutions and advanced packaging services, Tianfu is an official technical partner of Nvidia's CPO switch, with products entering small batch production [16] - Revenue is projected to grow from 873 million yuan in 2020 to 3.252 billion yuan in 2024, with a compound annual growth rate (CAGR) of 38.91% [18] 2. **Taicheng Light** - One of the largest manufacturers of high-density optical connection products, Taicheng focuses on CPO and has seen significant demand for MPO connectors due to data center construction [22] - Revenue is expected to increase from 574 million yuan in 2020 to 1.378 billion yuan in 2024, with a CAGR of 24.49% [24] 3. **Yuanjie Technology** - Specializes in the research, design, production, and sales of optical chips, with products used in fiber access, 4G/5G networks, and data centers [27] - The optical chip market in China is projected to grow from $555 million in 2015 to $2.997 billion by 2026, supported by rapid internet development and new infrastructure demands [31]