Core Viewpoint - WeChat is optimizing its chat record backup feature to support various external storage devices, including USB drives, allowing users to create and manage multiple backup files and enabling automatic backups [1][7]. Group 1: Feature Enhancements - The new backup functionality allows users to back up chat records to external storage devices such as USB drives and mobile hard drives, in addition to the current option of backing up to a computer [1]. - Users can choose to back up all chats or specific chats, as well as select a specific time period for the backup [5]. - The feature includes an automatic backup option that pauses when the device's battery is below 20% to conserve power [5]. Group 2: Current Limitations - The backup feature currently does not support iCloud or NAS, requiring users to back up to a USB drive first before transferring [7]. - The feature is still in testing, with some iOS users having access, while the Android version has not yet been enabled [7]. Group 3: User Reactions - Users have expressed relief and excitement about the new backup feature, indicating a strong demand for improved chat record management [7][9].

技术报告显示，M1模型在处理百万级Token的长文本上实现突破；其RL（强化训练）成本下降一个量 级，成本仅53万美金；在工具使用场景（TAU-bench）中MiniMax-M1-40k同样领跑。 （开源技术报告截图） 重塑性价比 在人工智能竞赛进入"下半场"的今天，模型性能的比拼已不再是唯一焦点，高效、低成本、强推理能力 正成为定义下一代AI核心竞争力的关键。6月17日，总部位于上海的AI企业MiniMax在开源社区正式发 布其自主研发的MiniMax-M1系列模型。 M1被定义为"开源的大规模混合架构推理模型"，它不仅在多个核心生产力场景中展现出顶尖模型的实 力，同时，更具成本效益，为AI的规模化应用和未来发展路径打开了新的想象空间。 线性注意力混合构架与CISPO算法 MiniMax-M1的卓越性能，根植于其独特的架构设计和算法创新。其中，两大核心技术——线性注意力 机制（Lightning Attention）混合构架和更快的强化学习算法CISPO，构成了其高效能、低成本的基石。 分析人士认为，MiniMax不仅为开发者和企业提供了一个高性能、低门槛的新选择，也用事实证明了通 过技术创新可以有效打破" ...

Core Viewpoint - The article discusses the ongoing copyright dispute between G.E.M. (邓紫棋) and her former company, Hummingbird Music, highlighting her recent release of a re-recorded album and the legal implications surrounding her music rights [6][15]. Group 1: Copyright Dispute - Hummingbird Music issued a statement demanding the removal of G.E.M.'s re-recorded songs from all platforms, claiming copyright infringement [1]. - G.E.M. announced the release of her re-recorded album "I AM GLORIA" and detailed her struggles with copyright issues over the past six years, including not receiving royalties for her previous works [7][9]. - The dispute stems from a contract signed when G.E.M. was 15, which she later discovered did not grant her rights to her own songs [9]. Group 2: Legal Basis for Re-recording - G.E.M.'s legal team found a basis to re-record her old songs, allowing her to release them globally [11]. - Her membership in CASH (Composers and Authors Society of Hong Kong) at the age of 14 enabled her to retain certain rights over her songs, despite the ongoing copyright dispute [12]. Group 3: Background and Company Relations - G.E.M. had a 13-year relationship with Hummingbird Music, which ended in 2019 due to alleged breaches of contract by the company [15]. - The former company claims exclusive rights to 103 of G.E.M.'s works, prohibiting any unauthorized use [15]. - G.E.M. expressed her feelings of being treated as a commodity by the company and emphasized her independence post-termination of the contract [15].

Core Viewpoint - The article discusses the cultural significance and historical context of ancient astronomical maps, specifically the "Dunhuang Star Map" and the "Suzhou Stone Carved Star Map," highlighting their roles in human exploration of the universe and the exchange of civilizations [1][2]. Summary by Sections Dunhuang Star Map - The "Dunhuang Star Map," created in the early 8th century, is recognized as the world's earliest hand-drawn star map, featuring 1359 stars depicted in red and black [1]. - This map serves as a testament to the exchange between Eastern and Western civilizations, integrating Persian astronomical algorithms and Indian astrological wisdom with the Chinese star system [1]. Suzhou Stone Carved Star Map - The "Suzhou Stone Carved Star Map," created approximately 500 years later, is the oldest scientifically measured stone star map in China, measuring 2.16 meters in length and 1.08 meters in width [2]. - It features concentric circles with the North Pole at the center and divides the visible sky into sections for the twenty-eight lunar mansions, linking celestial phenomena with Confucian ethics [2]. Cultural Significance - Both maps reflect the wisdom and historical richness of ancient civilizations, with the "Dunhuang Star Map" embodying romantic exploration and the "Suzhou Stone Carved Star Map" representing rational understanding of the cosmos [2].

Core Viewpoint - The article emphasizes the evolving consumer preferences in China towards healthier and more transparent snack options, driven by the "Healthy China 2030" strategy, highlighting the importance of ingredient selection and nutritional awareness in snack consumption [1][2]. Group 1: Consumer Trends - Chinese consumers are increasingly seeking snacks that not only taste good but also align with their health-conscious lifestyles, reflecting a desire for "happiness on the plate" [1]. - The notion that snacks are not inherently bad is supported by experts, who advocate for selective and moderate consumption of snacks made from simple, high-quality ingredients [1][2]. Group 2: Nutritional Awareness - The article discusses the significance of reading ingredient lists and nutritional information, particularly the Nutrient Reference Value (NRV%), which indicates the percentage of daily nutrient needs met by a serving [2]. - Consumers are encouraged to focus on the first few ingredients in the list to assess the quality of the snack, particularly regarding sugar content [1][2]. Group 3: Product Examples - The article highlights the example of Lay's Fresh Baked Naked Rice Cake, which features a clean ingredient list with no added sugars or artificial additives, showcasing a commitment to quality and consumer preferences [3][5]. - The nutritional profile of the Lay's product is favorable, with zero trans fats and a low calorie count, making it suitable for health-conscious consumers [5][6]. - The introduction of new flavors, such as the Milk Naked Rice Cake, reflects the brand's innovation in meeting the demands of families and enhancing the overall snack experience [6].

大力发展科创债，加快推出科创债ETF 积极推动社保基金、保险资金、产业资本参与私募股权投资 要点 推出科创板进一步深化改革"1+6"政策措施 设置科创板科创成长层 重启未盈利企业适用科创板第五套标准上市并扩大适用范围 试点引入资深专业机构投资者制度 面向优质科技企业试点IPO预先审阅机制 创业板正式启用第三套标准，支持优质未盈利创新企业上市 抓好"并购六条"和重大资产重组管理办法落地 在6月18日举行的2025陆家嘴论坛上，中国证监会主席吴清宣布，将在科创板推出深化改革的"1+6"政策 措施，核心举措包括：在科创板设置科创成长层；重启科创板第五套标准，并扩大适用范围；对于适用 科创板第五套标准的企业，试点引入资深专业机构投资者制度，面向优质科技企业试点IPO预先审阅机 制。同时，他宣布，创业板将正式启用第三套标准，支持优质未盈利创新企业上市。 吴清强调，证监会将以深化科创板、创业板改革为抓手，以发展多元股权融资为重点，着力打造更具吸 引力、竞争力的市场体系和产品服务矩阵，统筹推进投融资综合改革和投资者权益保护，加快构建更有 利于支持全面创新的资本市场生态。 更好发挥科创板改革试验田作用 推出进一步深化改革"1 ...

Core Viewpoint - The A-share market experienced fluctuations, with the Shanghai Composite Index down by 0.2%, Shenzhen Component down by 0.15%, and the ChiNext Index down by 0.36% during the morning session [1]. PCB Industry - The PCB (Printed Circuit Board) sector saw significant gains, with leading stocks Shenghong Technology and Semyung Electronics reaching historical highs. Shenghong Technology rose by 1.95% and Semyung Electronics increased by 10.21% [5][3]. - The PCB industry is experiencing rapid growth driven by demand from AI and high-speed networks. By 2026, the market for cloud AI server PCBs is expected to reach 49 billion yuan, while the market for cloud AI-related data interaction PCBs is projected to grow to 11.3 billion yuan [7]. - The overall operating rate of PCB manufacturers was reported to be between 90% and 95% in Q1, with an upward trend expected in Q2. Starting from the second half of 2024, the PCB industry is anticipated to enter a new phase of capacity expansion, focusing on high-layer boards and high-end substrates [7][8]. - The demand for high-end PCBs, particularly high-layer and HDI boards, is expected to grow significantly, with global output value growth rates projected at 41.7% and 10.4% respectively by 2025 [8]. Baijiu Industry - The baijiu sector experienced a rebound, with stocks like Huangtai Liquor showing notable gains. Huangtai Liquor increased by 6.78% [10][11]. - Current characteristics of the baijiu industry include greater pressure on prices than on volume, with many companies increasingly reliant on market share growth in core markets and lower-tier products for performance [12][13]. - Leading baijiu companies are innovating their business models to cope with cyclical pressures, focusing on transforming customer demographics and enhancing cultural experiences [13]. - The valuation of the baijiu sector has returned to historical lows, providing a significant margin of safety. Companies are enhancing shareholder returns through increased dividends and share buybacks [13]. - Analysts suggest focusing on three types of quality targets in the baijiu sector: brands with strong recognition and low valuations, regionally strong operators, and companies with substantial growth potential [13]. New Consumption Sector - The new consumption sector has become a market focus this year, with segments like beauty, IP economy, and snacks experiencing significant growth [14]. - The Chinese consumer market is showing structural differentiation, driven by policy support, generational shifts in consumer behavior, and varying growth stages among companies [14].

现场，有媒体向京东抛出问题："为什么要选择进入外卖领域，如何看待和美团的竞争？" 对此，刘强东笑答："从长远来看，竞争有利于行业的可持续发展。大家看到的是我们跟美团的外卖之 争，但我们更强调的是外卖背后的生鲜供应链，前端卖饭菜永远不赚钱，我们要靠供应链赚钱。未来， 我们会打造一种与美团完全不同的商业模式，并期待这种商业模式能够让消费者买到高性价比且安全的 食品 。" 刘强东还表示，在进军外卖领域前，确实请了王兴、姚劲波和程维吃饭。"那天主要是请王兴"，刘强东 说，"老姚和程维跟我比较熟，跟王兴也比较熟，我希望找两个熟悉和信任的兄弟坐在旁边"。 "那天我 说得很直接，兄弟，我要正式进入外卖了" ，刘强东说。 6月17日，京东集团董事局主席刘强东在分享会上，回应了与美团的竞争等热点话题。 刘强东。图源：VCG 谈"京美大战"：事实将证明 京东是一种完全不同于美团的经营模式 他还表示，最近有意邀请美团创始人王兴面对面交流，"喝喝酒，聊聊天，做外卖的时候共同推动整个 外卖行业的健康发展"。 刘强东还谈到，和王兴是很好的朋友，非常尊重和认可他。刘强东笑称，"当然这段时间估计他（王 兴）可能对我多少会有点意见，前几天我还 ...

八是会同证监会研究推进人民币外汇期货交易。 推动完善外汇市场产品序列，便利金融机构和外贸企 业更好管理汇率风险。 二是设立数字人民币国际运营中心。 推进数字人民币的国际化运营与金融市场业务发展，服务数字金 融创新。 三是设立个人征信机构。 为金融机构提供多元化、差异化的个人征信产品，进一步健全社会征信体 系。 四是在上海临港新片区开展离岸贸易金融服务综合改革试点。 创新业务规则，支持上海发展离岸贸 易。 2025陆家嘴论坛今天开幕 央行宣布八项重磅金融开放举措 五是发展自贸离岸债。 遵循"两头在外"的原则和国际通行的规则标准，拓宽"走出去"企业及"一带一 路"共建国家和地区优质企业的融资渠道。 2025年陆家嘴论坛开幕式上， 中国人民银行行长潘功胜宣布八项重磅金融开放举措 。 六是优化升级自由贸易账户功能。 实现优质企业与境外资金高效融通，提升跨境贸易投资自由化便利 化水平，助力上海高水平对外开放。 一是设立银行间市场交易报告库。 高频汇集并系统分析银行间债券、货币、衍生品、黄金、票据等各 金融子市场交易数据，服务金融机构、宏观调控和金融市场监管。 七是在上海"先行先试"结构性货币政策工具创新。 包括开展航贸 ...

Market Overview - On June 17, US stock indices closed lower, with the Dow Jones Industrial Average, Nasdaq, and S&P 500 dropping by 0.7%, 0.91%, and 0.84% respectively [3] - Major tech stocks also fell, with the US Tech Giants Index down 0.81%, Tesla decreasing nearly 4%, and Apple dropping over 1% [5][6] Chinese Stocks - Chinese stocks experienced a general decline, with the Nasdaq Golden Dragon China Index falling by 1.77%. Notable declines included Zai Lab down over 8% and Canadian Solar down over 6%, while Brain Regen saw a significant increase of 30% [8] Commodity Prices - International oil prices surged, with NYMEX WTI crude oil rising by 2.74% to $73.74 per barrel, and ICE Brent crude oil increasing by 5.41% to $77.19 per barrel [13] - International precious metal futures showed mixed results, with COMEX gold futures down 0.32% to $3406.50 per ounce, while COMEX silver futures rose by 2.01% to $37.18 per ounce [12]