爆料邮箱：all_cj@ifeng.com 一星期内，从西贝莜面村到太二酸菜鱼，又一家连锁餐饮品牌因"预制菜"问题被推上舆论风口。 凤凰网《风暴眼》出品 近日，凤凰网《风暴眼》实探太二酸菜鱼在北京的首家"鲜活门店"，实测点单后10分钟鱼已上桌。店员解释，活鱼是指"当天到店现杀"，而非"顾客点单后 现杀"，现杀现做顾客需要等待45分钟，"时间太长了"。 从实探了解的情况来看，至少将其"鲜活门店"菜品直接定义为"预制菜"并不完全准确，为节省顾客等待时间，门店提前杀鱼似乎也情有可原，只是品牌在 宣传中重点突出"活鱼"，容易使消费者产生"即点即杀"的预期，客观上构成了类似"文字游戏"带来的理解偏差。 这一系列事件，再次折射出整个餐饮行业在效率、真实性与宣传尺度上的集体困境，而"预制菜"成为了承接消费者愤怒的宣泄口与典型符号。 01 实探太二"鲜活门店" 近期，有媒体实探太二酸菜鱼门店，"7分钟上齐三道菜"的出餐速度，令消费者对其宣传的"活鱼现做"产生质疑。与此同时，该品牌一年关闭65家门店、业 绩明显下滑， #太二酸菜鱼为何没人吃了 # 话题也登上热搜。 争议的核心，依然围绕"预制菜"是否真实存在，以及品牌宣传与消费 ...

Core Viewpoint - The profitability of Digital China (神州数码) continues to be under pressure, with a net profit of 426 million yuan in the first half of the year, a year-on-year decline of 16.29% despite the implementation of an "AI-driven cloud integration" strategy [2]. Group 1: Business Performance - Digital China's main business segments include IT distribution and value-added services, proprietary brand products, and cloud services and software. The company has faced a situation of increasing revenue but declining profits over the past year [3]. - In 2024, the company's revenue and net profit are projected to be 128.166 billion yuan and 753 million yuan, respectively, reflecting a year-on-year change of 7.14% and -35.77% [3]. - In the first half of 2025, the company reported revenue of 71.59 billion yuan, a year-on-year increase of 14.4%, while net profit was 426 million yuan, down 16.3% [3]. - The IT distribution and value-added services business, which contributes over 90% of revenue, has a low gross margin of 2.7%, down 0.82 percentage points year-on-year [3][4]. Group 2: Revenue Breakdown - The IT distribution and value-added services business can be further divided into consumer electronics and enterprise value-added services, with revenues of 51.041 billion yuan and 17.35 billion yuan, showing year-on-year changes of 24.89% and -8.51%, respectively [4]. - Both segments experienced a decline in gross margins, with consumer electronics at 1.76% (down 0.38 percentage points) and enterprise value-added services at 5.54% (down 1.01 percentage points) [5]. - The cloud services and software business saw a significant slowdown in growth, achieving revenue of 1.64 billion yuan, a year-on-year increase of 14.1%, compared to 62.7% in the previous year [5]. Group 3: Financial Challenges - The company's net profit decline is attributed to increased R&D expenses, reduced government subsidies, and significant fair value losses [7][8]. - In the first half of 2025, R&D expenses reached 189 million yuan, up 11.19% year-on-year, while sales and management expenses also increased [7]. - The company's credit impairment losses surged by 513.7% year-on-year to 108 million yuan due to increased bad debt provisions [9]. - As of June 30, 2025, the company's debt ratio was 76.1%, with short-term loans of 10.219 billion yuan exceeding cash and cash equivalents of 5.446 billion yuan [9]. - The company has provided guarantees totaling 68.501 billion yuan for subsidiaries, raising concerns about financial stability [9]. Group 4: Shareholder Activity - The major shareholder, Sigma, has reduced its stake in the company through share transfers, decreasing its holding from 7.9% to 3.15% [10].

Core Viewpoint - The article highlights the life and artistic journey of You Benchang, emphasizing his dedication to art and the values of sincerity and integrity that he embodies throughout his career [3][14][16]. Group 1: Artistic Philosophy - You Benchang views performance as a means of self-cultivation and personal growth, integrating his roles into his identity rather than treating them as mere performances [7][12]. - He believes that true artistry involves a continuous pursuit of new possibilities and self-improvement, reflecting an open mindset towards artistic expression [12]. Group 2: Family Dynamics - The article discusses the evolving relationship between You Benchang and his children, highlighting the generational misunderstandings that often exist in families, particularly in the context of their upbringing [8][9]. - Trust and communication between father and son improved significantly after a health crisis, illustrating the importance of familial bonds and shared experiences in understanding one another [9][11]. Group 3: Legacy and Impact - You Benchang's career is portrayed as a testament to the values of perseverance and authenticity, demonstrating how art can serve as a medium for genuine connection and legacy [14][16]. - His life story serves as an example of how conflicts can lead to deeper understanding and kindness, reinforcing the notion that true nobility lies in maintaining one's principles amidst challenges [14][16].

Core Viewpoint - The controversy surrounding Decathlon's use of the term "virgin land" in its promotional materials highlights the brand's struggle with public perception and its identity crisis as it attempts to transition from a budget-friendly image to appealing to a more affluent consumer base [1][4][22]. Group 1: Controversy and Public Reaction - Decathlon quickly removed the controversial advertisement after public backlash, with customer service stating they are monitoring the situation [4]. - The term "virgin land" has a neutral definition in the Modern Chinese Dictionary, but its usage in this context sparked debates about the objectification of women [4][7]. - The backlash included complaints and calls for boycotts, with some consumers expressing that the term was overly sensitive while others felt it was disrespectful [7][8]. Group 2: Brand Positioning and Pricing Strategy - Decathlon was once known as a "budget paradise" for sports enthusiasts, offering low-priced products, but recent price increases have alienated its core customer base [8][10]. - The average selling price of Decathlon's products rose from 128.81 yuan to 196.32 yuan between 2022 and 2024, marking a 52% increase [10]. - The brand now faces a dilemma where it is perceived as too expensive for lower-income consumers while failing to attract middle-class consumers who seek premium products with added value [14][22]. Group 3: Financial Performance and Strategic Changes - Decathlon's global revenue growth slowed significantly from 21.3% in 2021 to just 1.15% in 2023, with profits dropping by 15.5% to 787 million euros in 2024, the lowest in a decade [20]. - The appointment of a new female CEO in 2022 initiated a brand overhaul aimed at repositioning Decathlon in the market, including a logo change and a focus on higher-end products [20][21]. - Despite these efforts, the brand struggles to provide the emotional and identity value that middle-class consumers seek, leading to a potential sale of 30% of its Chinese subsidiary, valued between 1 billion to 1.5 billion euros [21][22].

Core Viewpoint - The article introduces a high-end business line of outdoor clothing that has been meticulously developed over the past year, emphasizing quality, craftsmanship, and a unique design that sets it apart from typical offerings in the market [2][20][23]. Group 1: Product Development - The product is designed to last for 3 to 10 years, maintaining comfort and quality throughout its lifespan [4]. - The team invested 6000 yuan to purchase the original version and made numerous trips to the factory for optimization [5][12]. - The clothing features a 1:1 replication of the original design, with both men's and women's versions available [13]. Group 2: Material and Craftsmanship - The jacket utilizes advanced "Burly" double-layer woven fabric, which is lightweight yet durable, with a breathability index of over 5000, making it waterproof and sweat-wicking [30][43]. - The fabric is custom-woven and dyed, ensuring that the appearance and texture closely match the original [33]. - The jacket's design includes over 30 pattern pieces, significantly more than typical jackets, enhancing fit and comfort [48][50]. Group 3: Pricing and Market Strategy - The original version is priced at 6000 yuan, while the new version is offered at an early bird price of 279 yuan, which is less than 1/20 of the original price [29][82]. - The company plans to produce an initial batch of 200 pieces to test market acceptance before scaling up production [78][82]. - A contract for 20,000 pieces has been signed with the factory to secure lower costs for future production [79]. Group 4: Design Features - The jacket includes a unique storage design, allowing for large capacity pockets that can hold items like an iPad securely [95][99]. - It features a high collar and a large hood to provide protection against wind and rain [102]. - The jacket is available in two colors, black and light gray, catering to different aesthetic preferences [106].

自去年获得"2024凤凰之星上市公司评选"的"港股最具成长性上市公司"以来，康方生物备受资本市场青睐，股价已涨超150%。截至9月17日，康方生物股 价为129元。 时隔一年，康方生物接受了凤凰的专访，回顾了其获奖一年来的发展，并肯定了"凤凰之星"评选对创新企业发展的积极作用。 01 上半年营收同比增长33.7% 2024年9月，康方生物从众多上市公司中脱颖而出，将"港股最具成长性上市公司"奖项收入囊中。当时作为评委之一的北京大学经济学院教授许云霄指出， 康方生物从研发源头到产业化的全链条布局，展现了其在生物医药领域快速成长和创新研发的能力。 奖项公布后，康方生物获得资本市场青睐，截至2025年9月17日，其股价涨幅已超过150%。而此并非短期市场情绪的偶然波动，背后更深层的逻辑在于康 方生物在医药创新领域取得的突破性成果与基本面硬实力，赢得了资本市场的长期认可。 目前，康方生物的增长势头仍在不断提速。2025年上半年，康方生物的营业收入达到了14.12亿元，同比增长33.7%。在此背景下，康方生物面对的问题在 于如何加速创新价值转化，以及如何建立全球创新壁垒。 围绕这两项目标，康方生物制定了多维度策略：加速 ...

Group 1 - A-shares are experiencing a significant upward trend, with the Shanghai Composite Index reaching 3877.55 points, a 0.41% increase, and the Shenzhen Component Index rising to 13197.01 points, a 1.02% increase [1] - Since September 2024, the A-share market has seen a robust rally, with the Shanghai Composite Index increasing by 45% from its low of 2690 points, marking a 10-year high, while the ChiNext Index has surged by 100% [2] - The Hong Kong market is also performing well, with the Hang Seng Index up by 1.41% and the Hang Seng Tech Index rising by 3.5%, driven by strong inflows of capital [3] Group 2 - Over 90% of foreign investors express willingness to increase their exposure to Chinese assets, the highest level since early 2021, indicating a growing confidence in the market [4] - Global hedge funds are rapidly buying Chinese stocks, with a 9:1 ratio of long positions to short covering, reflecting a strong bullish sentiment [4] - Foreign investment firms are actively increasing their capital in China, with Fidelity's registered capital rising from 16 million USD to 18.2 million USD, showing a fivefold increase since inception [5] Group 3 - Historical trends suggest that China has experienced three major bull markets since 2000, with the current bull market potentially aligning with the "Juglar cycle" of economic fluctuations [8] - The current bull market is driven by policy easing, a new wave of technological revolution, and ample liquidity, suggesting strong upward momentum [9] - Analysts believe that the upcoming bull market could surpass previous highs, with potential targets for the A-share market being discussed in relation to currency strength [9] Group 4 - The Hong Kong market is seen as a potential beneficiary of the current trends, with recommendations to focus on sectors such as internet, consumer, pharmaceuticals, and non-bank financials [10] - The recent dovish signals from the Federal Reserve may improve foreign capital inflow expectations into the Hong Kong market, enhancing its attractiveness [10] - The upcoming "Phoenix Bay Area Finance Forum 2025" will discuss the prospects of a decade-long bull market in Chinese assets, featuring prominent financial figures [11]

市场分析认为，美国就业数据加快走弱，支持美联储9月重启降息，降息预期是近期金价上涨的关键动力 。 高盛集团在9月4日表示，如果 美联储公信力受损，而投资者将一小部分美债持仓转换为黄金，金价可能会飙升至每盎司近5000美元。 美联储本年度 9 月利率决策会议在当地时间 9 月 16 日到 17 日举办。 北京时间 9 月 18 日凌晨 2 点，美联储 FOMC 将公布利率决议结 果和经济预期。凌晨 2 点 30 分鲍威尔将召开新闻发布会。 CME"美联储观察工具"数据显示，市场预计美联储有95.8%的概率将在9月17日的议息会议上降息25个基点，有4.2%的概率降息50个基 点，维持现状的概率为0%。市场押注美国降息已成定局。 值得一提的是，当地时间 9 月 15 日，美联储议息名单发生两大变动：其一，特朗普提名的米兰获参议院批准出任美联储理事，将在本次会 议中拥有 12 张表决票中的一票；其二，美国一上诉法院驳回特朗普解雇库克的请求，若最高法院未裁决，库克将参与此次议息会议并投 票。 参考资料： 美东时间周二，美股三大指数集体收跌，截至收盘，道琼斯指数跌0.27%，标普500指数跌0.13%，纳斯达克综合指数 ...

Core Viewpoint - The article discusses the challenges faced by the pre-made dish brand, Tai Er Suancaiyu, under the Jiumaojiu Group, highlighting a significant reduction in store numbers and declining operational efficiency [2][3][5]. Group 1: Company Performance - Tai Er Suancaiyu claims to serve "live fish made on-site" but has faced scrutiny regarding its operational practices, with many stores currently closed for renovations [3]. - The number of Tai Er Suancaiyu stores has decreased by 68 in the past six months, indicating a significant contraction within the brand [3]. - The brand's revenue for the first half of 2025 dropped to 1.946 billion yuan, a year-on-year decline of approximately 13.25% from 2.244 billion yuan in 2024 [5]. Group 2: Operational Efficiency - The turnover rate for Tai Er Suancaiyu decreased from 2.7 in 2024 to 2.2 in 2025, indicating fewer customer visits during the same operating hours [4]. - The average customer spending increased slightly from 71 yuan in 2024 to 73 yuan in 2025, but same-store sales fell by 19%, suggesting a decline in customer traffic and changes in dining duration [4]. - The overall performance of Jiumaojiu Group also reflects a downward trend, with a 10.1% decline in revenue to 2.753 billion yuan in the first half of 2025, and a net profit drop of 31.3% to 61 million yuan [7]. Group 3: Strategic Adjustments - Jiumaojiu Group is shifting its focus towards franchise models to reduce operational costs, with 10 self-operated stores converted to franchises [3]. - Despite the challenges, there are signs of improvement, as the same-store daily sales decline has narrowed in the second quarter of 2025 compared to the first quarter, indicating that new store formats and menu optimizations may be starting to yield results [8].

团 圆 的 节 日 里，月 饼 是 必 不 可 少 的 心 意，当 你 还 在 发 愁 今 年 选 什 么 月 饼 时，有 一 款 月 饼 已 经 被 抢 空 了 一 轮 又 一 轮！ 有 人 专 程 千 里 奔 赴，只 为 带 上 几 盒 回 家； 有 人 托 朋 友 排 队，只 求 尝 到 这 份 素 净 的 味 道 。 它 就 是 普 陀 山 素 月 饼 。 普陀山大家都很熟悉了，四面环海、清幽静怡， 素有"海天佛国"、"南海圣境"之称！ 不仅孕育了无数信仰与清净之心，也沉淀出特别的饮食文化——净素、清雅、健康、慈悲。 在普陀山入口处， 可以看到素月饼实体文化店，游客们都会大包小包的带回家。 都说这份素月饼， 不只是节日的点心，更是一份带着祝福的"功德饼"、"观音饼"。 今年，我们提前为大家预定了一批库存， 不必舟车劳顿、不必苦等排队， 就能在家里收下这份 "海天佛 国"的素净味道--普陀山净素古法手工月饼。 普陀山净素古法手工月饼 3味经典，酥到掉渣 福缘礼盒，素净之味，礼敬团圆 千年传承古法，坚持纯手工制作， 经由普陀老手艺人36个时辰的守候，8道工序的匠心打磨。 （*数据来自品 牌） 高 温 烤 ...