以下文章来源于财联社 ，作者潇湘 财联社 . 财联社是上海报业集团主管主办，定位资本市场报道财经通讯社，以"准确、快速、权威、专业"为准 则，提供7x24小时金融信息服务。 来源|财联社 如果美国通胀数据迟迟不上升，那么"最尴尬的人"，或许就是正在等待关税下通胀复燃信号的鲍威 尔，以及那些长期以来一直警告关税将推高美国通胀的经济学家…… 而 今晚，即将公布的美国6月CPI报告，可能就将成为一场关键的"正名之战"…… 目前，在连续四个月高估CPI读数后，不少华尔街机构再度在今晚关键的CPI押注中选择了"押大" ——预计美国6月CPI数据将出现较高的增速。一些业内人士表示，若美国6月份CPI最终出现明显上 涨，将是美国关税上调正在推高通胀的第一个真正迹象。 事实上，前几个月不温不火的美国通胀数据表现，其实已经让美联储处于了一个较为尴尬的境地 ——美联储官员们一直在为年内迄今按兵不动的利率政策进行辩护，他们给出的最常见理由就是预 期关税将推高通胀，但这一效应至今仍始终未见踪影。 而如果今晚的通胀数据表现依然温和——涨幅低于预期，那么几乎可以肯定会引发美国特朗普再次 表达强烈不满。他近来已多次呼吁美联储降息，并屡屡把 ...

Core Viewpoint - The long drama industry is facing significant challenges, with a noticeable decline in viewership and engagement despite an increase in the number of new series released [2][3][5]. Group 1: Long Drama Market Analysis - In the first half of 2025, long video platforms released 271 new series, a slight increase from 237 in the same period last year, but the average viewership per episode has drastically decreased [3][4]. - Only one series, "Bleach," achieved an average viewership of over 50 million, while only three others surpassed 40 million, indicating a severe drop in audience engagement compared to 2024 [3][4]. - The industry is experiencing a transformation phase, with a focus on high-quality productions as lower-quality series are being phased out [4][5]. Group 2: Shift in Content Strategy - Major platforms are shifting from betting on blockbuster hits to ensuring content quality and return on investment (ROI), emphasizing the need for a higher success rate in projects [6][7]. - Tencent Video is encouraging creators to focus on quality storytelling and project viability, while iQIYI aims to reduce the number of episodes but increase the overall budget for projects [6][7]. - The industry is seeing a decline in opportunities for mid-tier and emerging writers, as platforms prefer established creators with proven track records [9][10]. Group 3: Impact of Short Dramas - Short dramas are emerging as a potential growth area, with platforms like iQIYI and Tencent Video actively developing short-form content to compete with traditional long dramas [13][14]. - Despite the rise of short dramas, there are concerns about their ability to generate significant revenue compared to long dramas, as the latter still forms the core of major platforms' business models [17][18]. - The competition from short dramas is prompting long video platforms to enhance their content quality and explore new monetization strategies [16][17]. Group 4: Technological and Market Innovations - AI is being increasingly integrated into content production and user experience, with platforms like Tencent Video and iQIYI investing in AI technologies to improve efficiency and creativity [18][19]. - International expansion and IP monetization are also key strategies for platforms, with iQIYI and Tencent Video establishing partnerships and operations in various global markets [20][21]. - The current profitability of major video platforms relies heavily on cost-cutting and membership fee increases, indicating a fragile balance rather than sustainable growth [22].

凤凰网《风暴眼》出品 文｜洄野 2023年1月11日，深圳南山智园核子基因总部。全民核酸时代落幕的第13天，距离癸卯年春节还有 十天。 杨秋然的生活像根骤然绷断的弹簧——曾高速运转三年，如今每天9点准时上班，手头工作却戛然而 止。更让她焦灼的是，熬过噩梦般的忙碌后，2000多万合同金额的核酸检测项目，业务提成却成了 泡影。 这位曾在上海、深圳开拓项目的业务总监，此刻来到董事长办公室找到张核子。上个月，张核子针 对她的工作撂下一句"你这是大会战，不是个人业务"，就把她拉黑了。她只好当面讨说法。 "怎么不是我的业务？都是我自己谈的。"见张核子不认账，杨秋然急着说，"你看看这半年给我开 的工资，月月一千多两千多，这不侮辱人吗！" 眼前的张核子，身上随意套着件T恤，说话带着点永州乡音。他让人事核查了发薪记录，承认"确实 有点少"，紧接着抛出解决方案——只付提成的不到一半。 "你太不公正了！"杨秋然怒斥。而张核子也不客气："之前那么大事情公司都没怎么样，何况你这 点事。"他提高音量："你说我不公正，就去起诉……今天迈出这个门，就法庭见。真打起官司来对 你不好。" 这天，杨秋然在公司与人事、律师僵持了接近十小时，毫无结果 ...

Core Viewpoint - The company, Plant Doctor, has initiated its IPO plan with impressive figures of "4,500 stores and 14 million members," but it faces significant internal control issues, stagnant performance, and concerns over R&D investment [1][5][7]. Group 1: Internal Control Issues - Plant Doctor has received 16 administrative penalties during the reporting period for issues such as false advertising and inadequate supply chain supervision [4][5]. - The company has a history of compliance failures, with 32 subsidiaries lacking health permits as of May 31, 2025, raising concerns about governance [6][5]. - The company's reliance on a franchise model has led to systemic risks, as evidenced by penalties against both its subsidiaries and franchisees [5][6]. Group 2: Stagnant Performance and Channel Challenges - From 2022 to 2024, Plant Doctor's revenue showed minimal growth, with figures of 2.117 billion, 2.151 billion, and 2.156 billion respectively, reflecting growth rates of 1.6% and 0.22% [7][8]. - In contrast, comparable companies in the industry have shown significant revenue growth, highlighting Plant Doctor's underperformance [7][8]. - The number of distributors decreased from 3,999 in early 2022 to 3,830 by the end of 2024, indicating a decline in the distribution network [9][10]. Group 3: R&D Investment Concerns - Despite claims of prioritizing R&D, the company reduced its R&D personnel by over 20% in two years, while total staff increased [12][13]. - The company spends significantly more on marketing (7.43 billion) compared to R&D, which raises concerns about its commitment to innovation [14][15]. - Core technologies are increasingly outsourced rather than developed in-house, leading to skepticism about the company's long-term technological capabilities [14][15].

来源丨凤凰网《风暴眼》 其代理律师公开表示，三人实为宗馥莉的 "同父异母弟妹"，母亲是娃哈哈公司元老杜建英。 杜建英曾被视为公司二把手，但随着宗馥莉进入权力的中心，在 2010 年前后其离开娃哈哈。 三人提出两项核心诉求：一是主张获得价值 21 亿美元的信托基金权益 —— 据称该基金为宗庆后生前承诺设立；还有消息称，二是要求确认对宗馥莉所持 娃哈哈集团 29.4% 股权的继承权。 这一消息与公众过往认知形成强烈反差。在外界印象中，有着 "布鞋首富" 之称的宗庆后，家庭关系向来清晰简单，仅有妻子施幼珍与独女宗馥莉组成的核 心家庭。 而这场诉讼的最终结果，或将直接牵动娃哈哈这家老牌企业的未来归属。 《风暴眼》对话了两位娃哈哈老员工。其中一位透露，杜建英认为娃哈哈已被宗馥莉 "折腾" 得濒临困境，对此 "实在有些看不下去"；该员工同时提及， 杜建英已表露接手杭州上城区文商旅集团所持娃哈哈集团 46% 股份的意向。 创办 38 年的娃哈哈，一场未卜的风暴正悄然酝酿。 宗继昌（ Jacky Zong ）、宗婕莉（ Jessie Zong ）与宗继盛（ Jerry Zong ）已在香港和杭州两地对娃哈哈新任掌门人宗馥莉提 ...

Core Viewpoint - The recent surge in cryptocurrency prices, particularly Bitcoin, is driven by institutional investments, regulatory developments, and market sentiment, marking a potential new phase in the bull market for digital assets [1][2][4][5]. Group 1: Price Movements - On July 14, Bitcoin surpassed the $120,000 mark, reaching a peak of $123,100, with a 24-hour increase of nearly 4% [2]. - Bitcoin has seen a cumulative increase of nearly 30% since the beginning of the year, while gold has risen approximately 28% in the same period [4]. - Other cryptocurrencies such as Ethereum, Solana, and Stellar have also experienced significant price increases, with Stellar rising over 90% recently [1][2]. Group 2: Market Dynamics - The cryptocurrency market experienced over 129,000 liquidations in the past 24 hours, amounting to $744 million, with short positions accounting for $623 million of this total [2]. - Institutional demand remains strong, with record inflows into Bitcoin ETFs, including a single-day inflow of $1.18 billion, indicating robust market interest [5][6]. Group 3: Regulatory Developments - The U.S. House of Representatives is set to debate several cryptocurrency bills aimed at providing clearer regulatory frameworks for the digital asset industry, designated as "Cryptocurrency Week" [5]. - Proposed legislation includes the Clarity Act, Anti-CBDC Surveillance State Act, and the GENIUS Act, which could establish comprehensive regulations for stablecoins and digital asset custody [5]. Group 4: Future Outlook - Analysts suggest that if Bitcoin can maintain its position above $119,000 to $120,000, it may signal the beginning of a new bull market phase, potentially paving the way for prices to reach $135,000 to $140,000 [4]. - Some experts predict that Bitcoin could reach $200,000 by the end of the year, driven by sustained institutional demand and limited supply [4].

Core Viewpoint - The Chinese automotive market in the first half of 2025 is characterized by intense competition, with sales growth driven by promotional activities and significant reliance on government subsidies [1][2]. Group 1: Overall Market Performance - The wholesale volume of passenger cars reached 13.279 million units, a year-on-year increase of 12.2%, while retail sales totaled 10.9 million units, up 10.8% [3]. - Exports showed strong performance, with 2.16 million units exported from January to May, reflecting a 15% year-on-year growth, and new energy vehicle (NEV) exports reached 1.16 million units, up 33% [3]. - The promotional discount for traditional fuel vehicles remained stable at 23.3%, while NEV promotions decreased to 10.2%, indicating ongoing price competition [3][4]. - The inventory pressure on dealers is significant, with only 27.5% of 4S stores meeting sales targets, leading to increased stock levels and financial strain [4]. Group 2: Traditional Domestic Brands - The price war among traditional domestic brands continues, with promotional discounts for fuel vehicles reaching 18.3%, up 2.5 percentage points year-on-year [5]. - BYD leads the market with a sales volume of 2.146 million units, a 33% increase, while other brands like Geely and Changan also show significant growth [5][6]. - Geely's NEV sales reached 725,200 units, a 126% increase, highlighting its competitive positioning against BYD [7]. Group 3: New Forces in the Market - New energy vehicle startups face significant operational pressures, with only 3 out of 12 achieving sales targets above 40% [8]. - Leap Motor leads in cumulative deliveries among new forces, while XPeng Motors has seen a rebound in sales with its new model [8]. - The market demands a strong value proposition from new energy vehicles, emphasizing the need for competitive pricing and unique product positioning [8]. Group 4: Joint Ventures - Joint venture brands have shown signs of recovery, with overall sales increasing by 11% in the first half of 2025, driven by fuel and hybrid vehicle promotions [10]. - The promotional intensity for fuel vehicles reached a historical peak of 23.1%, particularly in the luxury segment [10]. - Although joint ventures lag in NEV penetration, some models are gaining traction, indicating potential for future growth [10]. Group 5: Market Outlook for the Second Half of 2025 - Price wars are expected to persist, with ongoing product launches and competitive pricing strategies [11]. - The continuation of subsidy policies will be crucial for stimulating market demand, as previous incentives have largely been exhausted [11]. - The automotive industry is transitioning towards a more complex competitive landscape, requiring brands to innovate beyond traditional product offerings [11][13].

鲜美！太鲜美了！ 爱吃海鲜的有口福了！ 来自北欧 纯净海域的 「 挪威进口多春鱼 」 ！ 个个 满腹黄金籽 ！ 这次终于 找到了我们心中的 「营养之冠」 —— 【挪威进口· 满籽 多春鱼】 刺少肉嫩高钙高蛋白！ 不满籽包赔！ 不满籽包赔！ 不满籽包赔！！ 点击下图即可购买 ▼ 来自"北欧海产王国"挪威， 鲜活捕捞锁鲜， 全部母体99%以上满腹爆浆黄金籽， 亲测好吃美味！更有营养！ 认真把控每一条鱼：肚子里全是宝，营养丰富，老少孕妇健康吃！ 给大家看挪威进口多春鱼的实 拍 ， 肉眼可见的新鲜！ 看到啥样，拿到手啥样！ 北极圈的"黄金营养"， 堪称深海营养"小炸弹"～ 客家话中，"蛋、卵"译为"春"， 挪威进口满籽多春鱼也因"多籽多福"而得名！ 但不仅仅只是寓意，新鲜美味来自洁净海域， 营养价值更是普通鱼的高很多倍！ 首先，挪威深海多春鱼 高蛋白低脂肪， 每100g含 18g优质蛋白 ，健身党撸串无负担； 其次，挪威深海多春鱼Omega-3爆表！ DHA+EPA含量是普通鱼类的 2倍+ ； 挪威多春鱼的鱼籽还含有多种微量元素、矿物质盐、蛋白质等等， 对人体非常有营养价值，尤其适合女性吃～ 连骨带籽吃， 食用挪威多 ...

Core Viewpoint - Huang Renxun, CEO of NVIDIA, emphasizes the importance of the Chinese market, marking his third visit to China this year, indicating a strong commitment to collaboration and growth in this region [1][3][4]. Group 1: Huang Renxun's Visits and Statements - Huang Renxun has visited China three times this year, with his latest visit being for the third Chain Expo [3]. - During a meeting with the China Council for the Promotion of International Trade, Huang stated that China is a crucial market for NVIDIA and expressed a desire to continue cooperation [4]. - Huang highlighted the transformative impact of AI across various sectors, including software development, healthcare, finance, climate technology, and manufacturing, suggesting that this is just the beginning of AI's disruptive changes [6]. Group 2: NVIDIA's Market Performance and Huang Renxun's Wealth - As of July 11, NVIDIA's stock price reached $164.92, with a market capitalization of $4.02 trillion, making it the first company to surpass this milestone [10]. - Huang Renxun's net worth has increased to $144 billion, surpassing Warren Buffett, positioning him as the ninth richest person globally [10]. - NVIDIA's stock has risen over 20% this year, contributing to a $29 billion increase in Huang's personal wealth during the same period [11].

市场对特朗普上周一系列关税声明的反应较为平淡，但美国最大的担忧还未解除，特朗普提前预告将就 俄罗斯问题发表重大声明，"起爆点"就在今晚？ 大型投资者和资深银行家们警告称，美国股市的创纪录高位掩盖了特朗普对全球最大经济体构成的风 险，他们同时警告市场中存在日益增长的"自满"情绪。 从东方汇理资产管理公司（Amundi）到摩根大通（JPMorgan Chase）的资深高管表示，市场过于自信 地认为，特朗普会放弃那些最有可能威胁美国金融稳定的政策。 东方汇理资产管理公司（欧洲最大的资产管理公司）首席投资官文森特·莫蒂尔（Vincent Mortier）表 示："对我来说，市场对'TACO'（特朗普总是退缩）这一华尔街普遍说法的自满情绪相当明显。" 摩根大通首席执行官杰米·戴蒙（Jamie Dimon），作为美国金融界最杰出的高管之一，在上周四的一个 活动中也表达了同样的看法，并指出："不幸的是，我认为市场存在自满情绪。" 特朗普近日表示："我认为我将在周一就俄罗斯问题发表重大声明。"荷兰国际分析师表示："特朗普有 可能宣布对俄罗斯实施更多制裁，如果制裁针对俄罗斯能源，这可能会极大地改变石油前景。" 一位前特朗普政府 ...