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]

Core Insights - The article highlights significant developments in various sectors, including government reforms, technological advancements, and market trends, indicating a proactive approach towards innovation and economic growth [1][4][6][9]. Government Reforms - As of the end of Q1 2025, the average completion rate of key reform tasks for central and local state-owned enterprises has exceeded 80% [1][4]. - The State-owned Assets Supervision and Administration Commission (SASAC) is focusing on technology and industry innovation, emphasizing the integration of both areas to enhance supply quality and modernize industrial systems [4]. Technological Advancements - Alibaba's Tongyi team has open-sourced a new Qianwen 3 quantitative model, adapting it for the MLX framework on Apple hardware [2][15]. - The Beijing Municipal Bureau of Commerce announced subsidies for smart home products, offering 15% off the final sales price for eligible items [5]. - The Guangzhou Development Zone has introduced policies to support high-quality development in the integrated circuit industry, focusing on advanced chip design and providing financial assistance for R&D [6]. Market Trends - A recent survey by the World Gold Council indicates that 95% of central banks plan to increase their gold reserves in the next 12 months, marking a 17 percentage point increase from the previous year [9]. - Public funds have shown increased interest in the TMT (Technology, Media, and Telecommunications) sector, with a notable rise in the number of companies being researched [9]. - There has been a significant inflow of funds into Hong Kong stock theme ETFs, with net subscriptions reaching 5.541 billion yuan since June 10 [9][10]. Corporate Developments - Caocao Travel has announced plans for an IPO on the Hong Kong Stock Exchange, aiming to raise approximately 1.853 billion HKD [14]. - Rokid has launched the world's first smart glasses payment system, integrating Alipay for seamless transactions [10]. - National Semiconductor Technology has successfully tested a new quantum-resistant password card, supporting various national encryption algorithms [11].

往期推荐 最新房价，刚刚公布 雷军官宣：小米YU7，月底见 国家发改委发布消息称，自24时起，国内汽油价格和柴油价格分别上调260元/吨和255元/吨。折合升 价，92号汽油上调0.20元，95号汽油和0号柴油均上调0.22元。 本次油价上调落地之后，驾车出行成本将有所增加。按照油箱容量为50 L的家用轿车为例，加满一箱92 号汽油将多花10元；物流行业以月跑1万公里，百公里油耗在38 L的重型卡车为例，在下次调价窗口开 启前，单辆车的燃油成本将增加390元左右。 来源：财联社 关注" 新华网财经 "视频号 更多财经资讯等你来看 ...