------------------------------- 12月19日，安踏接入淘宝闪购，全国超1000家门店支持线上下单、附近门店极速配送，覆盖174 个城市。 然而繁荣背后， 品牌管理警报正在安踏体育(2020.HK)拉响。 关注资本市场、金融市场、新经济发展和商业创新 作者： 于婞 来源： 野马财经 以下文章来源于野马财经 ，作者野马财经 野马财经 . 就在不久前，斐乐门店员工将顾客备注为"买双鞋子都嫌贵"的截图流出，迫使品牌方紧急发布致歉 公告。再往前推，始祖鸟因在喜马拉雅山脉海拔5500米处举办"升龙"烟花秀，被 环保人士谴责 为" 炸山"行为，品牌形象遭受重创。 值得关注的是，这两次舆论危机的中心都是安踏通过收购获得的品牌。作为中国首个营收突破千亿 的体育用品集团，安踏的"收购—整合—扩张"模式正面临严峻考验。 截至12月19日，安踏体育报收81.5港元/股，总市值2279亿港元（约合人民币2062亿元）。 01 从斐乐"傲慢标签" 到始祖鸟"炸山" 斐乐会员标签事件发生在2025年11月末。郑州正弘城斐乐儿童门店一位店员在为顾客添加会员信 息时，公然标注"买双鞋子都嫌贵"，并将截图误发至拥 ...

作者：唐纳德 来源：快刀财经 年底了，总想着复盘些什么，直到12月17日，罗永浩称在新一期播客节目称，早年在新东方未被 认可。 ------------------------------- 这是一个很有意思的话题，人和人之间的恩怨纠葛历来喜欢沦为吃瓜群众和看客的饭后谈资，而罗 永浩与俞敏洪两人又是极为具有话题感、争议感的人物。 他们身上的争议点与各自身上的经历或者总能时不时闹出一些舆论热点有关，不过笔者更想谈的 是，这几十年来，为什么总有人在离开新东方和新东方体系。 以下文章来源于快刀财经 ，作者快刀财经编辑部 快刀财经 . 欢迎关注这个洞察商业真相的公号。快刀财经，商业快媒体、思维孵化器、价值试验场和洗欲中心。 严格来讲，人才激动和人员离职在一家公司算不得罕见的事，可偏偏新东方体系内的顶级人才的跳 槽、离职更有章可循。 往深处讲，我们更愿意提供一个思考，在面向高质量发展或者新质生产力培育过程中，民营企业的 人才与治理机制是什么。即便从打工人的角度看，谁不想在2026年拥有一个更想信赖的老板呢？ 性格和制度都会决定命运，万般不由人。 按照这个角度，今天讨论的事情意义就非同小可了。好了，还是继续深挖下新东方及 ...

Core Viewpoint - The article discusses the decline of Chinese short dramas' dominance in the overseas market, highlighting the increasing competition from foreign companies that have begun to produce their own short dramas, thus capturing a significant market share from Chinese apps [4][8]. Market Trends - In the first three quarters of this year, over two-thirds of the top thirty overseas short drama apps were contributed by Chinese apps, a decrease from 95% in the same period last year, indicating a loss of nearly 30% market share to foreign competitors [7]. - The article emphasizes that the previous dominance of Chinese short dramas was due to a first-mover advantage, but as foreign companies learn to produce culturally relevant short dramas, the market share is expected to continue shifting [9]. Industry Developments - Hollywood is also exploring the short drama format, with companies like Paramount collaborating with Chinese platforms and Fox investing in AI-driven short drama companies like Holywater [10][11][12]. - Holywater, a Ukrainian company, utilizes AI technology to create short dramas, significantly reducing production costs and time. For example, a fire scene that would typically cost $8,000 to film can be generated using AI for just $100, with a production cycle of one week [15][16]. Innovation in Audience Engagement - Holywater incorporates AI not only in production but also in audience interaction, allowing viewers to chat with characters, enhancing engagement and creating a more interactive experience [18][19]. - The company aims to break the "fourth wall" by allowing audience feedback to influence the storyline, making the viewing experience more participatory and akin to interactive gaming [20]. Competitive Landscape - The article concludes that Chinese short dramas need to discover new competitive advantages in the overseas market to avoid being overtaken by local short drama companies that are leveraging advanced technologies and innovative engagement strategies [21].

------------------------------ 以下文章来源于大猫财经Pro ，作者大猫财经猫哥 大猫财经Pro . 看懂大趋势、小案例、一起搞钱 作者：史大郎&猫哥 来源：是史大郎&大猫财经Pro 01 跑路2年后，还是被抓回来了。 12月1日，一趟从新加坡经停菲律宾到美国的航班，航空公司按照惯例，通过APIS把旅客信息报送 给菲律宾。 结果，菲律宾的系统这边亮了红灯，一名乘客的信息直接跟国际刑警的红通匹配上了。 人在新加坡上了飞机，菲律宾就布控，飞机在马尼拉落地，移民局直接就把人按下了。 菲律宾移民局通报，抓住了中国逃犯郝斌（Hao Bin），很快，人就遣返回了中国，大使馆说她" 涉案金额高达9.7亿 "。 郝斌是谁呢？ 她是 深大通的实控人姜剑的妻子 ，2016年，姜剑家族靠110.52亿的资产，成为了青岛首富，而 郝斌也实控不少旗下公司。 天眼查显示，她名下关联企业有10家，现在仍有2家存续，包括一家房地产公司，而她曾是这家房 企大股东的董事长。 她为啥跑路呢？ 根据菲律宾移民局的通报，她违反了《刑法》第272条"挪用资金罪"，在2019年-2022年，她和 同伙挪用了合计9.7785亿 ...

华商韬略 . 聚焦标杆与热点、解构趋势与韬略 以下文章来源于华商韬略 ，作者华商韬略 作者： 朝暮 来源：华商韬略 当年，是祖国大陆推举郭台铭成为"代工之王"，登上台湾首富宝座。 如今，"代工帝国"日渐黄昏， 又是祖国大陆，让郭台铭摇身一变，跻身AI领域的制造霸主 。 ------------------------------- 历史转折 2018年6月8日，刚才成立3年的工业富联在上海证券交易所上市，成为A股的"工业互联网第一 股"。 当时，国家出台政策支持台资企业在大陆上市融资，工业富联拔了头筹。 其36天闪电过会的记 录，史无前例，也后无来者。 上市前一天，富士康在深圳举办三十周年庆典。67岁的郭台铭没有去上交所敲钟，但出席了庆典， 他发表了"走进历史转折中的富士康"的演讲。 郭台铭将富士康的下一个30年，定义为"重生"。 而工业富联，就是重生的关键。 一直以来，郭台铭对富士康被称作"代工厂"很不服。2017年12月的一次会议上，作为演讲嘉宾的 他提到："邀请我来做演讲的时候，介绍我们是全世界最大的代工制造企业。其实，我们在二十年 前就已经不是只有代工了。" 他经常在不同场合解释，"我们不是工厂，而是 ...

2025年又要结束了。。。今天想跟大家说几句心里话，算是有感而发吧，希望大家看完后都能重 视起来。 " 大环境不好 "这股风已经吹了很久了…… 但 经济学中有一个概念 叫 "逆行业周期"，指的就是在经济下行期，极个别行业能够实现逆势增 长。 短剧便是"黑夜中的这道光"。数据是不会说谎的： 2024年中国短剧市场规模达到 505亿元 ， 历史性 首次超越电影全年票房（约480亿元）， 交 出一份震撼业界的答卷。 截至2025年9月，短剧用户规模已 突破7.2亿 ，比经常点外卖的活跃用户还要庞大（约6.8亿） 据艾媒咨询预测，2027年中国微短剧市场规模将突破 1000亿大关 。 更值得关注的是 中产群体的参与热情 。据《2025中国短剧消费白皮书》显示， 月收入1.5万 元以上的用户占短剧付费用户的38.7% ，这一群体贡献了超过 45% 的短剧总营收。 中产不仅是短剧的消费者， 他们更是精准的瞄准了短剧的底层版权资产。 你一定要明白，文娱行业造就的第一批富人就是拥有作品版权的人。 不管是悟空游戏，哪吒电影，还是大家每天狂刷的短剧都是如此。假如你当时投资了《哪吒》的 电影版权，那你现在也是财富自由、衣食无忧了。 ...

Core Viewpoint - The incident involving the influencer Liu Ergou highlights the pitfalls of relying on vulgar content for traffic and revenue in the influencer industry, signaling a need for change in practices and regulations [1][27]. Group 1: Liu Ergou's Controversial Practices - Liu Ergou, a top influencer with nearly 44 million followers, faced penalties for a live stream that featured inappropriate content, marking a significant downfall in his previously successful career [1][24]. - His past live streams have included multiple instances of vulgar remarks and inappropriate behavior, such as making jokes about women's bodies and engaging in suggestive actions [4][5]. - The recent live stream incident, which lasted nearly three hours, showcased Liu engaging in soft-pornographic content to attract viewers, reflecting a pattern of behavior aimed at increasing traffic for monetization [5][10][8]. Group 2: Financial Success and Business Model - Liu Ergou's financial success is notable, with his first sales event generating over 300 million yuan in revenue, and he has developed a model of leveraging his influence to manage and profit alongside other influencers [9][10]. - Recent data indicates that he gained over 1.3 million followers in the last 30 days, with an average sales figure of 4.43 million yuan per live stream [11]. - His financial portfolio includes significant assets, such as a 70 million yuan office purchase and 1.75 billion yuan in cash as of 2022, indicating a lucrative but controversial business approach [12][13]. Group 3: Industry and Regulatory Implications - The incident has exposed the inadequacies of platform regulation, as the live stream continued for hours despite numerous viewer reports, highlighting a prioritization of traffic over compliance [28][30]. - The influencer industry is facing increasing scrutiny, and the downfall of Liu Ergou serves as a reminder that reliance on vulgar content for growth is no longer sustainable [31][33]. - For the industry to thrive, influencers must build trust with their audience by promoting positive values and adhering to regulations, while platforms need to enforce stricter compliance measures [34][35][36].

Core Viewpoint - The article discusses the intensified competition among major tech companies in the AI sector as they launch new products and models towards the end of the year, marking a significant shift in the AI landscape [2][14]. Group 1: Major Product Launches - Alibaba launched the "Qianwen" app, based on its large model "Tongyi Qianwen," which is seen as a direct competitor to ChatGPT, featuring strong multilingual capabilities and a real-time translation function covering 119 languages [4][5]. - Ant Group introduced the "Lingguang" app, which emphasizes efficiency by allowing users to generate interactive applications in 30 seconds using natural language [4][5]. - Both apps quickly gained traction, with Qianwen reaching the top three in the App Store within two days and Lingguang surpassing two million downloads in six days [7]. Group 2: Competitive Landscape - ByteDance's "Doubao" launched a new AI phone assistant that integrates large model capabilities directly into hardware, allowing for complex cross-application tasks with simple voice commands [8][10]. - DeepSeek released two new models, DeepSeek-V3.2 and DeepSeek-V3.2-Speciale, aiming to enhance reasoning capabilities and cater to complex tasks, positioning itself as a competitor to Doubao [12][13]. - The competition among these companies has reached a "white-hot" level, pushing the domestic AI market to new heights [14]. Group 3: External Influences - The article highlights the influence of Silicon Valley, particularly the release of OpenAI's GPT-5.1 and Google's Gemini 3.0, which set new benchmarks for AI capabilities and prompted responses from domestic companies [16][20]. - Google's Gemini 3.0 was noted for its comprehensive upgrades and received positive feedback from industry leaders, indicating a shift towards a more collaborative AI platform [21][23]. Group 4: Strategic Timing of Releases - Major tech companies tend to launch significant AI models at the end of the year to maximize media exposure and public attention during a quieter news cycle [30][32]. - This timing allows companies to leverage the holiday season for increased visibility, as seen with the launch of ChatGPT, which coincided with the Thanksgiving to Christmas period [33]. - The end-of-year releases also serve as a strategic move for companies to define their capabilities and set competitive standards for the upcoming year [39][40]. Group 5: Future Implications - The article suggests that the current competition is shifting from merely releasing models to building comprehensive AI ecosystems that integrate model capabilities, product forms, and commercial viability [46]. - The outcomes of these year-end launches are expected to shape the future landscape of AI, indicating a new phase in the global AI race [47].

Core Viewpoint - The article discusses the recent positive developments for Faraday Future (FF) and its founder Jia Yueting, highlighting significant orders and strategic shifts that indicate a potential turnaround for the company in the competitive electric vehicle market [4][12][32]. Group 1: Recent Developments - Jia Yueting announced a significant contract with Golden Hill Investment LLC for 2,000 units of the FX Super One, with all non-refundable deposits already received [4][6][7]. - This order marks a successful entry into the Florida market, a key state for electric vehicle consumption in the U.S. [7]. - FF has completed six out of eight planned state expansions ahead of schedule [8]. Group 2: Business Model and Strategy - The company is utilizing a co-creation ecosystem and direct online sales model, which is a departure from traditional dealership models, allowing for reduced marketing and sales costs [9][18]. - FF is focusing on high-end markets, targeting luxury vacation rentals and time-sharing, which aligns with the needs of affluent consumers [18]. - The B2B2C sales approach allows FF to reach target users quickly through partnerships, effectively turning scenarios into sales channels [18]. Group 3: Financial Performance and Challenges - FF reported an operating loss of $206.8 million (approximately 1.468 billion RMB) for the third quarter [20]. - Jia Yueting aims to achieve a market valuation of $10 billion to address domestic debts, with a commitment to repay all debts by the end of 2026 [21][26]. - The company has restructured its debts under U.S. law and is taking concrete steps to manage domestic guarantees [23]. Group 4: Future Outlook - The recent orders and business developments lend credibility to Jia Yueting's previous claims of returning to China and resolving debt issues [26]. - The article suggests that the current trajectory of FF, including its strategic focus on the U.S. market, may be the best path forward for the company [30].

Core Viewpoint - The article discusses the alarming rise in layoffs in the U.S. job market, with over 1.17 million employees laid off by November 2025, a 54% increase from the previous year, drawing parallels to the 2008-2009 financial crisis [4][5]. Group 1: Causes of Layoffs - The primary cause of layoffs is attributed to the efficiency revolution led by the DOGE department, resulting in 293,753 federal employees and contractors losing their jobs, with an additional 20,976 in the private and non-profit sectors, an eightfold increase compared to 2024 [15]. - The macroeconomic environment, characterized by high costs and tariffs, is also a significant factor, as many companies face debt repayment pressures from loans taken during the low-interest period of 2020-2021 [18][19]. - Companies, particularly those owned by private equity, are cutting jobs at a rate 1.5 times higher than publicly traded firms due to high leverage costs and cash flow constraints [21][22]. Group 2: Impact on Various Industries - The retail sector is the hardest hit, with a significant drop in consumer confidence and companies like Target and Starbucks announcing substantial layoffs due to decreased sales [27][28]. - The service industry has seen a 64% increase in layoffs, with UPS cutting 14,000 management positions to improve efficiency [30][31]. - The food industry has also been affected, with 34,165 job losses throughout the year, particularly in beef processing due to rising costs [32][33]. Group 3: Technology and Management Changes - The technology sector has contributed significantly to layoffs, with 35% of the total layoffs coming from this industry, primarily affecting middle management roles [46][47]. - A new corporate mantra has emerged: "Every employee generates revenue," leading to layoffs becoming a normalized management tool rather than a crisis response [51]. - Companies like Amazon and IBM have reported increased profits while simultaneously announcing significant layoffs, indicating a trend where cost-cutting measures are prioritized over workforce stability [53][54]. Group 4: Future Implications - The trend of layoffs is expected to continue, with predictions that the technology sector will see a peak in cost-cutting benefits by 2026, potentially reducing operational costs significantly [58]. - However, the loss of middle management, which often holds critical technical knowledge, could extend product development cycles and hinder innovation [62][71]. - The article warns that excessive cost-cutting may erode the foundation of innovation within the technology sector, leading to long-term negative consequences [72].