以下文章来源于并购最前线 ，作者杨文静 并购最前线 . 「并购最前线」系投资界旗下专注并购动态报道公众号，欢迎关注！ 买买买。 作者 I 杨文静 报道 I 投资界-并购最前线 投资界（PEdaily.cn）旗下，专注并购动态 欢迎加入投资界读者群 今日（1 0月20日），开云集团与欧莱雅集团双双宣布，将在奢侈美容和健康领域建立长 期战略合作伙伴关系，这一协议涵盖了欧莱雅收购Cr e e d品牌、Ke ri ng知名品牌的美容 和香水许可协议，以及一个独家合资企业。 此次协议总价值达40亿欧元（约合332亿元人民币）。印象中，这是今年美妆领域的最大 一笔收购。 交易背后，一边是开云集团债务与业绩双重压力下的转型之举；另一边是欧莱雅集团大 刀阔斧的扩张雄心。这映照出全球奢侈品和美妆巨头们当前的两种生存境况。 奢侈品巨头 卖掉一个老牌香水 根据协议条款，此次合作三大部分—— 其一，开云集团将旗下含Cr e e d品牌在内的美妆业务出售给欧莱雅集团，包括出售Cr e e d 以及Ke ri ng的标志性香水店授予50年的许可。 Cr e e d（信仰）是一款于1 760年在英国伦敦创立的香水品牌，最初供应于欧洲皇室， ...

Core Viewpoint - A global asset reshuffling is underway, with significant investments flowing into technology and gold, raising questions about whether this represents a wealth feast or a repeat of past market pitfalls [5]. Group 1: Gold Market Insights - As of October 15, COMEX gold prices surpassed $4,200 per ounce, marking a 54% increase year-to-date [6]. - The current gold bull market is driven by central banks, with gold's share in reserves surpassing U.S. Treasury bonds for the first time since 1996, indicating a strategic shift towards physical assets [8][10]. - China's foreign exchange reserves increased by $16.5 billion in September, with gold reserves rising by $29.4 billion, reflecting a 11.6% month-on-month growth, bringing gold's share in total reserves to 7.68%, the highest in a decade [10]. Group 2: Technology Sector Performance - The technology sector, particularly semiconductors, has seen remarkable growth, with companies like Semiconductor Manufacturing International Corporation and Cambricon Technologies experiencing stock price increases of 58.93% and 120.28%, respectively [11]. - The U.S. stock market has been on a tech bull run for three years, with the S&P 500 index rising 83% since October 2022, driven largely by major tech firms [11]. - AI investments are now contributing 40% to U.S. GDP growth, with major AI companies accounting for 80% of the stock market's growth [12]. Group 3: Market Dynamics and Contradictions - The simultaneous rise of gold and technology stocks is unusual, as gold typically serves as a safe haven while tech stocks are seen as riskier investments [14]. - The current economic environment features significant monetary easing, with expectations of further interest rate cuts, which has led to increased capital inflows into technology [18]. - The contrasting strategies of heavy investment in technology while maintaining gold as a hedge reflect a complex market sentiment, with institutions betting on both outcomes [19][24]. Group 4: Future Implications - The ongoing investment in technology is seen as a gamble on a new technological revolution, with the potential for either a successful AI-driven economic boom or a market correction leading to asset depreciation [20][23]. - Major investment firms, such as Harvard Management Company, are increasing their stakes in both tech giants and gold, indicating a dual strategy to navigate potential market volatility [24].

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正 在 招 人 。 作者 I 杨继云 报道 I 投资界PEdaily 香 港 迎 来 一 位 超 级 业 主 。 阿里巴巴和蚂蚁集团共同宣布：投资9 .2 5亿美元（约70亿港元），购置了铜锣湾港岛一 号中心共1 3层商业写字楼，作为两家公司的中国香港总部。 对此，阿里巴巴集团主席蔡崇信解释："自19 9 9年成立以来，阿里巴巴一直深耕香港市 场。此次收购香港地标物业，充分体现我们对香港经济和营商环境的信心，并将以香港为 理想的大本营，持续拓展国际业务。" 11月初，他将现身香港大学做一场分享。 今日，阿里巴巴港股股价涨超4. 8%，最新市值超3万亿港元。 阿里成立香港总部 买下办公楼 如此大手笔，阿里震撼香港写字楼市场。 所买下的港岛一号中心现由文华东方酒店集团持有。文华东方国际在10月1 7日晚间披露 的文件显示，此次阿里和蚂蚁集团洽购的是港岛一号中心最高的13个楼层，这些楼层享 有维多利亚港2 7 0度全景视野，此外阿里还买下该建筑的屋顶标志和5 0个停车位。 此次交易总收购价为9. 25亿美元，出售写字楼总建筑面积约30 . 16万平方英尺，折算后， 平均价格约为 25 .82万港元/平方米。 若相关 ...

以下文章来源于天天IPO ，作者王露 天天IPO . 投资界（PEdaily.cn）旗下，专注IPO动态 欢迎加入投资界读者群 来自福建。 作者 I 王露 报道 I 投资界-天天IPO 投资界-天天IPO消息，今日（1 0月20日），福建海西新药创制股份有限公司（下称"海 西新药"）正式登陆港交所。发行价为86 .4港元/股，首日高开1 8.06% 。截至目前，市值 达到85亿港元。 成立1 3年，海西新药创始人是一对学霸夫妻——康心汕和冯岩。他们曾漂洋过海求学， 深耕医药领域多年，最终回到老家福建，在福建国资的支持下创立海西新药。如今，海 西新药身后VC/PE云集。 东南潮涌，不止于商。"闽商"不再只是茶叶与鞋服的代名词，福建的生物医药产业已悄 然崛起。 化学夫妇带队 今天福州诞生一个IPO 海西新药源于一对学霸夫妻。 19 71 年 ， 康 心 汕 出 生 于 福 建 莆 田 ， 本 科 毕 业 于 中 国 科 学 技 术 大 学 高 分 子 化 学 专 业 ， 于 19 99 年 获 得 普 林 斯 顿 大 学 化 学 博 士 学 位 。 随 后 ， 他 进 入 制 药 工 业 界 ， 在 PTC Th ...

Core Viewpoint - Xiaohongshu has significantly increased its employee stock option prices, reflecting a strong upward trend in company valuation and employee wealth creation opportunities [3][4][10]. Summary by Sections Stock Option Adjustments - On October 17, Xiaohongshu announced an increase in employee stock option prices, with the grant price set at $25 per share and an exercise price of $2 per share, resulting in a profit of $23 per share [3][6]. - This marks the third increase in stock option prices this year, with the grant price doubling from $13.5 in March to $25 in October [5][6]. Employee Sentiment - Employees expressed excitement on social media about the rising value of stock options, indicating that options are becoming more valuable than traditional stock accounts [5][8]. - A former employee shared that by not participating in an earlier stock buyback, they missed out on a 75% profit increase within six months [7]. Company Valuation - Xiaohongshu's valuation has surged by 19% in three months, reaching $31 billion (approximately 220 billion RMB), surpassing previous valuations of $26 billion in June and $20 billion in January [10][11]. - The company has seen a significant increase in monthly active users, exceeding 350 million, primarily generating revenue through advertising and e-commerce [11]. Investment Backing - Xiaohongshu has attracted a prestigious lineup of investors, including GSR Ventures, ZhenFund, and Sequoia Capital, contributing to its robust growth and valuation [11][12]. - A notable consumer investment firm reported recovering approximately 1 billion RMB through selling Xiaohongshu's old shares, indicating strong investor confidence [12]. Market Context - The article draws parallels with past IPO successes in the tech industry, highlighting how stock options have historically enabled employees to achieve financial freedom upon company listings [14]. - The anticipation surrounding Xiaohongshu's potential IPO is expected to create significant returns for its investors, similar to past tech IPOs [12][14].

以下文章来源于每日人物 ，作者每人作者 每日人物 . 轻商业，懂生活。 时代病。 作者 | 徐晴 编辑 | 金匝 来源 I 每日人物 （ID：meirirenwu） 怎么会不付出努力，就能减肥成功呢？他总是隐隐地担心，担心自己会为此付出代价， 只是代价此时此刻还没有显现出来。以及，那是一种很无能的感觉，自己是靠打针变瘦 的，"或者说，我依赖药物，是个瘾君子。" 再之后，每次打司美格鲁肽的时候，他都想着："下次不打了，还是得靠运动来获得结 果。"但这种无痛的减肥方式，奇迹般的效果，又总是诱惑着他再来一针。惊喜、惶恐、 懊悔，都掺杂在一起，于京和很多男性一样，困在"减肥神药"的羞耻中。 两个答案 于京掌握着一个让自己在饭局上成为话题中心的秘诀。 之所以有两个答案，是源于于京有一种微妙的羞耻感。 跟女性相比，男性很少因为外表被"审判"，至少在社会语境里，"胖"并不是男人的致命 缺点，因此，"减肥"对许多男性而言是陌生的。另一位正在打司美格鲁肽的中年男性王 朝阳总结过，男人不会说自己在"减肥"，而是喜欢使用"健身" "体重管理"这样的字眼。 男性也很少在朋友圈晒自己在减肥，"一般是偷偷摸摸去做这个事，然后瘦身出来，晃 ...

以下文章来源于秦朔朋友圈 ，作者朱兆一 秦朔朋友圈 . 秦朔朋友圈是由中国著名媒体人、财经观察家秦朔牵头创立的一个新媒体与专业服务品牌，包括微信公 众号、微博、视频节目、音频节目等。内容聚焦于经济、金融和商业领域，关注重点为全球和中国财经 商业热点、企业家精神、创新与发明创造、商业文明探索等。 出海启示。 数据显示，沙特境内常住外籍人口达约1570万，占总人口4 4 . 4%，外来劳工支撑起经济 半壁江山。过去五年，随着"一带一路"推进，中国赴沙特工程技术人员数量估计增长两 三倍。 然而，当"基建狂魔"遇上"慢节奏"员工，摩擦不断。沙漠并非不可征服，但劳动文化的 鸿沟却比沙漠更难跨越。 "中国速度"撞上"沙特时间" 烈 日 炙 烤 下 ， 在 沙 特 的 中 国 工 人 展 现 惊 人 的 吃 苦 精 神 ： 他 们 在 白 天 高 达 50 ℃ 、 地 表 近 7 0℃的荒原连续作业。很多人每天工作12小时以上，月休2天，月收入约2 . 8万元人民币 ——这是国内同岗位薪水的两倍。 但这份高薪是用血汗换来的，工友们"两只脚轮流站，才能避免被烫伤"；长时间风吹日 晒，嘴唇干裂渗血，混着沙粒咽下也全然不顾，只为 ...

以下文章来源于国民经略 ，作者凯风 国民经略 . 在这里，读懂中国经济、城市和楼市 连锁反应来了。 作者 | 凯风 来源 I 国民经略 （ID： guominjinglve ） 3 5岁，不再是考公考编天花板。 2 0 26年国家公务员招录公告发布，年龄上限从3 5岁放宽到38岁，应届硕士、博士生放宽 到43岁。 此前，上海、江苏、四川多地已将部分公务员、事业单位招聘上限延至3 8岁，个别岗位 甚至放宽到4 0岁乃至4 5岁。 从国家到地方，3 5岁门槛开始全面松动，释放了什么信号？ 35岁门槛，早就过时了 所谓35岁限制，最早来源于1994年公务员招录，后被国有企业、事业单位借鉴，进而扩 展到民营企业，最终形成" 35岁天花板现象"。 最初的考公年龄限制，是基于"干部年轻化"的需要，有特殊的时代背景，不无现实合理 性，但民营企业照葫芦画瓢，显然走歪了。 当然，彼时我国正处于"人口红利"黄金期，大量年轻人涌入就业市场，但经济爆发期机 会无限，" 3 5岁现象"尚不足以成为问题。 如今，30多年过去，从人口到产业再到经济格局，都已发生翻天覆地的变化。 一个不容忽视的现实是， 中国已经不再"年轻"，全国平均年龄早 ...

Core Viewpoint - The article discusses the upcoming IPO of Qingsong Health Group, which has paved the way for its listing in Hong Kong after receiving approval from the China Securities Regulatory Commission. The company, previously known for its crowdfunding platform Qingsongchou, has shifted its focus towards comprehensive health services and insurance solutions [2][3][8]. Company Overview - Qingsong Health Group, founded by Yang Yin, initially gained recognition through its crowdfunding platform Qingsongchou, which helped families raise funds for medical expenses. The company has evolved from its original business model to focus on digital health services and insurance [3][8]. - Yang Yin, the founder and CEO, transitioned from a career in investment to entrepreneurship in 2014, leveraging the rise of mobile internet to create a platform that connects individuals in need of financial assistance with potential donors [7][8]. Business Model and Financial Performance - The company has positioned itself as a one-stop platform for digital health services and health insurance solutions, offering services such as screening, medical appointment services, and health products [11]. - Revenue figures for Qingsong Health Group show a growth trajectory, with revenues of RMB 393.6 million in 2022, RMB 489.96 million in 2023, and projected revenues of RMB 945 million for 2024. The adjusted net profits for the same periods were RMB 149 million, RMB 146 million, and RMB 8.44 million respectively [11][12]. - The insurance services, launched in December 2016, have contributed significantly to the company's revenue, accounting for 81.5% of total revenue in 2022, while health services have seen an increase in revenue contribution from 15.2% in 2022 to 65.3% in 2024 [12]. Market Position and User Base - Qingsong Health Group has established a substantial user base, with 170 million registered users and partnerships with 86 pharmaceutical companies, offering a total of 294 insurance products from 58 insurance partners [13]. - The company has completed eight rounds of financing, raising approximately $126 million, with notable investors including IDG Capital, Sunshine Insurance, and Tencent [13]. Industry Context - The crowdfunding model for medical expenses has faced increasing competition and regulatory scrutiny, leading companies like Qingsong Health and Waterdrop to pivot towards insurance and health management services to ensure sustainability and profitability [17]. - The regulatory environment has evolved, with new guidelines requiring platforms to ensure the authenticity of fundraising requests and manage funds through dedicated accounts, reflecting a shift towards greater accountability in the industry [17].