以下文章来源于硬氪 ，作者张子怡 硬氪 . 专注全球化、硬科技报道。36kr旗下官方账号。 消费级CNC: 下一款高爆发创客工具? 文 ｜ 张子怡 编辑 ｜ 袁斯来 来源｜ 硬氪（ID:south_36kr） 封面来源 ｜ 企业供图 硬氪获悉，国内消费级CNC创新企业造物时代科技有限公司（Makera）宣布完成数千万元人民币的Pre-A轮融资。本轮融资由启明创投独家领投，资金将主 要用于核心技术研发迭代、产能扩张及全球市场渠道建设。 造物时代成立于2019年，为全球创客、中小企业及教育机构提供智能化、易用化的数字制造工具。已陆续发售过两代CNC设备，其旗舰产品Carvera是全球 首款智能桌面CNC产品，第二代Carvera Air众筹成绩达347万美金。 CNC设备看似陌生，其生产与加工的东西无处不在。工业级CNC是传统制造业的核心设备，广泛应用于几乎所有需要精密加工的领域，是工业产品生产 的"基础工具"，应用场景包括航空航天，消费电子3C和模具器械等。 CNC同3D打印机、激光雕刻机一样，都属于计算机数字控制门类，但分属为不同加工工艺。激光雕刻为二维加工，3D打印为增材制造，CNC为减材制造。 在材料使用 ...

Incident Summary - A fatal accident involving a Xiaomi SU7 occurred in Chengdu, where the vehicle caught fire after a collision, resulting in the driver's death. Initial investigations indicate that the driver was suspected of driving under the influence of alcohol [4][7]. Company Response - Xiaomi's customer service stated that no staff were on duty at the time of the incident, which occurred at 3 AM, and they did not receive any emergency calls related to the accident [5]. Industry Impact - The incident raises concerns regarding the safety features of electric vehicles, particularly in emergency situations where rapid response is critical. This could influence consumer perceptions and regulatory scrutiny of electric vehicle manufacturers [4][7].

Core Viewpoint - The article discusses the unexpected surge in travel costs to Northeast China during the autumn season, highlighting how the region, traditionally seen as a low-cost destination, has become expensive due to increased tourist demand [4][17][70]. Group 1: Travel Costs - Round-trip airfare to Northeast China has skyrocketed from around 1,000 to 6,000 yuan, with some flights costing as much as 10,000 yuan [4][20][100]. - Rental car prices in popular autumn destinations like Alshan have doubled, with costs reaching around 5,000 yuan for a holiday [24][87]. - Hotel prices have also surged, with average rates exceeding 500 yuan, and some premium accommodations charging up to 2,000 yuan per night [27][30][87]. Group 2: Tourist Demand - There has been a notable increase in tourists traveling to Northeast China for autumn foliage, surpassing those visiting Xinjiang [5][70]. - The influx of visitors has led to a scarcity of accommodations and services, creating a mismatch between tourist demand and local infrastructure [83][84]. Group 3: Experience and Infrastructure - The rapid increase in tourist numbers has strained the existing infrastructure, leading to issues such as inadequate transportation and poor service quality [78][83]. - Many tourists have reported difficulties in accessing popular sites due to transportation challenges and overcrowding, which diminishes the overall experience [80][100]. Group 4: Seasonal Timing - The optimal viewing period for autumn colors in Northeast China is short, typically from mid-September to early October, and this year, the season started earlier than usual [95][96]. - Tourists often find that by the time they arrive, the peak autumn colors have already faded, leading to disappointment [100][102].

Core Viewpoint - The article discusses the rise of Tim, the founder of the video content creation team "Film Hurricane," highlighting his ambitious goals and unique business strategies that have garnered significant attention and engagement in the digital space [5][12][39]. Group 1: Background and Achievements - Tim has gained immense popularity, recently replacing the previous internet celebrity "Xiao Yang Ge" with his viral content, including a 100-hour live stream on a deserted island that attracted 41.5 million viewers and achieved a total of 169 million views [8][14]. - The company has a substantial following, with tens of millions of fans, and Tim's personal story reflects a journey from a standard working-class background to a successful entrepreneur [10][12]. - Tim's ambitious goals include reaching 1 billion views in five years and winning an Oscar for a short film by 2028, showcasing his drive for success [12]. Group 2: Business Model and Revenue Streams - Film Hurricane's most profitable segment is its e-commerce operations, which have become the core of its business model, moving away from traditional advertising [31][32]. - The company has sold 200,000 units of a single T-shirt product this year, indicating strong sales performance [32]. - Recent sales data shows that the company's account generated approximately 7.5 million to 10 million in sales over the past 30 days, with the official flagship store contributing an additional 1 million to 2.5 million [33]. Group 3: Challenges and Future Outlook - The company faces challenges in scaling its content production, as each video requires unique creation, making it difficult to reach broader audiences [40]. - High production costs are a significant concern, with the 100-hour live stream costing over 3 million, and the company aims to maintain high-quality content despite pressures from domestic platforms [41]. - Tim's vision includes expanding into new product areas and achieving global recognition, but this ambition comes with increased costs and risks associated with reliance on his personal brand [41][42].

以下文章来源于镜相工作室 ，作者镜相作者 镜相工作室 . 商业世界的风向与人 这既是历史遗留问题，也是近一年来宗馥莉接班后娃哈哈内外部矛盾激化的结果。上一次，疑似主动流出的辞职信，使"质疑其管理合理性的股东"让步， 宗馥莉顺利接过宗庆后走后一直空缺的董事长职位，拿到父亲遗留的股权。但这一次，宗馥莉的辞职更像是一种无奈：她和宗家的宏胜系公司，都被娃哈 哈商标卡住了脖子，不得不另起炉灶。 即便宗馥莉的能力够强，对内对外大举改革，带着娃哈哈全国饮料销售净收入创下成立以来的最高增速，尽管宗馥莉掌控的体外公司承担了娃哈哈绝大部 分生产和销售，但娃哈哈依旧不是她一个人的。 我们梳理了几个关键问题，试图搞清楚，这次辞职后，宗馥莉是否真的彻底与娃哈哈脱钩？宏胜系没了娃哈哈这个品牌，新搞的"娃小宗"能不能成？这件 事对娃哈哈集团的影响有多大，谁能取代宗馥莉？以及这个接班连续剧，最后会走向哪里？ 真离职，假退场 娃哈哈，终究不姓宗。 文 ｜ 彭杰克 编辑 ｜ 卢枕 来源｜ 镜相工作室（ID:shangyejingxiang） 封面来源 ｜ 视觉中国 这是宗馥莉第二次辞职，距离宗庆后去世不到600天。和第一次辞职时直接有辞职信流出 ...

Core Viewpoint - The Chinese smartphone industry has entered a new phase characterized by systemic competition, where brands like Huawei, Xiaomi, and vivo are focusing on technological depth and ecosystem innovation rather than just product iteration [2][5][26]. Market Dynamics - As of September 28, 2025, vivo (including iQOO) holds an 18.4% market share, leading the Chinese smartphone market for the third quarter of 2025, and a 17.2% share for the first three quarters of 2025 [4]. - In the high-end market (above 4000 yuan), vivo ranks second with a 22.14% share, following Huawei [4]. Competitive Landscape - The current competitive landscape is defined by a shift from "single-point leadership" to "system leadership," where brands must build closed loops in technology, experience, and ecosystem [5][26]. - The evolution in the imaging sector reflects this shift, moving from hardware competition to a focus on real-world problem-solving capabilities [5][11]. Innovation Strategies - vivo's innovation strategy involves deep collaboration with partners like MediaTek and Arm, allowing for co-development of chipsets and imaging algorithms, which enhances their competitive edge [7][20]. - The X300 series exemplifies this approach, integrating advanced imaging capabilities with AI to create a seamless user experience [9][19]. Long-term Vision - vivo's approach is likened to a river, emphasizing patience and accumulation over time, which allows for the development of a reusable system capability [16][19]. - The "Blue Technology" system represents a comprehensive ecosystem that integrates chip performance, imaging, system interaction, and AI understanding, enabling continuous self-evolution [19][20]. Societal Impact - The focus on user-centric innovation is evident in vivo's projects, such as the "Digital National Treasure Plan," which utilizes imaging technology for cultural heritage preservation [23]. - By addressing real-world needs, vivo demonstrates that technological innovation can create significant social value beyond mere product performance [24][28].

Core Insights - The article highlights the increasing popularity of outdoor trekking, particularly in challenging environments like the Everest East Slope, while also emphasizing the associated risks and the importance of safety awareness [6][9][32]. Group 1: Popularity of Outdoor Trekking - During the National Day holiday, the Everest East Slope area recorded its highest ever visitor numbers, with nearly 1,000 trekkers participating [4]. - The overall number of outdoor enthusiasts trekking in the Everest East Slope throughout 2023 was approximately 2,000 [4]. - Social media discussions around "outdoor trekking" have reached nearly 7 billion views, indicating a significant interest in this activity [6]. Group 2: Risks and Safety Concerns - In 2024, there were 335 reported outdoor adventure accidents, with trekking incidents being the most frequent [7]. - A recent snowstorm during the National Day holiday trapped many trekkers, leading to emergency rescues, but fortunately, no casualties were reported [8][9]. - The article stresses the need for respect for nature and awareness of the unpredictable weather conditions that can pose serious risks to trekkers [10][18]. Group 3: Experiences of Trekkers - Trekkers like Wang Chunjie described their experiences as a way to combat the monotony of urban life, with trekking serving as a form of mental and physical challenge [6][11]. - The article details the challenges faced during the snowstorm, including the physical toll of carrying heavy equipment and the psychological strain of dealing with extreme weather [13][15][20]. - Experienced trekkers, such as Hai Zi, emphasized the importance of preparation and emergency measures during adverse conditions, showcasing the difference in experiences between commercial trekking groups and independent trekkers [20][23]. Group 4: Market Trends and Future Outlook - The commercial trekking market is thriving, with numerous organized tours available, such as the 88-kilometer Gobi trek priced from 5,888 yuan per person [29]. - The Everest East Slope trekking has gained traction among outdoor enthusiasts, with many seeking unique experiences in high-altitude environments [30]. - Despite the growing interest, the article warns that many new trekkers lack adequate safety awareness and preparation, which could lead to dangerous situations [32][33].

Core Viewpoint - The article discusses the rapid rise of Moole Technology, a domestic GPU company, highlighting its IPO progress and potential in the Chinese chip market, particularly in AI and graphics computing sectors [3][4][18]. Group 1: Company Overview - Moole Technology has achieved a significant milestone by passing the IPO review in just 88 days, which is notably faster than the average of around 200 days for similar companies [5]. - Founded by Zhang Jianzhong, a former NVIDIA executive, Moole Technology aims to develop a full-function GPU with its self-developed architecture, MUSA, which supports a wide range of precision calculations [7][8]. - The company has made substantial investments in R&D, with a projected total of 3.81 billion yuan from 2022 to 2024, which is higher than its competitors [9]. Group 2: Financial Performance - Moole Technology has reported cumulative losses exceeding 5 billion yuan over the past three years, despite its products showing competitive performance against NVIDIA's offerings [9]. - The company plans to raise 8 billion yuan through its IPO, with a focus on funding AI and graphics chip development [18]. - In 2024, Moole Technology's revenue is expected to reach 432 million yuan, with projections indicating a significant increase to 702 million yuan in the first half of 2025 [20]. Group 3: Market Position and Competition - Moole Technology's AI computing products are projected to account for 94.85% of its revenue by mid-2025, driven by the growing demand for large model training and GPU cloud services [18]. - Despite the rapid growth, Moole Technology currently holds less than 1% market share in its respective segments, indicating significant competition from other domestic GPU companies [21]. - The article notes that several other domestic GPU companies are also pursuing IPOs, which may intensify competition in the market [22].

Core Viewpoint - The resignation of Xin Jie as chairman of Vanke after approximately nine months in office marks a significant leadership change, with Huang Liping elected as the new chairman, indicating a potential shift in the company's strategic direction and management approach [1][21]. Leadership Changes - Xin Jie resigned from his positions as director and chairman of Vanke due to personal reasons, effective immediately, and Huang Liping has been elected as the new chairman [1][21]. - Huang Liping, born in 1968, has held various leadership roles within Shenzhen Metro Group and has been a director at Vanke since June 2021 [2][21]. Background of Xin Jie - Xin Jie, born in 1966, has a strong educational background with degrees in engineering and business administration, and has held various significant positions in the real estate and investment sectors [5][6]. - He played a crucial role in Vanke's management during a challenging period, implementing organizational restructuring and maintaining the company's credit status with the support of Shenzhen Metro Group [3][9]. Organizational Restructuring - Under Xin Jie's leadership, Vanke underwent a major organizational restructuring aimed at reducing management layers and centralizing authority at the headquarters [10][15]. - The new structure eliminated regional levels, transitioning from a "5+2+2" framework to 16 city companies directly managed by headquarters, enhancing operational efficiency [15][16]. Financial Challenges - Vanke is facing significant financial difficulties, with projected losses exceeding 49 billion yuan for the first time in its 34-year history, and liquidity issues have been acknowledged [19][20]. - Shenzhen Metro Group has provided substantial financial support, including nearly 26 billion yuan in loans at low interest rates to help Vanke manage its debt obligations [18][19]. Sales and Market Position - Vanke's sales have declined sharply, with a reported 40% drop in sales volume year-on-year, reflecting ongoing challenges in the real estate market [20][21]. - The company has significantly reduced its land acquisition activities, securing only six new projects in the first half of the year, indicating a cautious approach to expansion amid financial constraints [20].

Core Viewpoint - The coffee industry is undergoing a significant price war, leading to a drastic reduction in coffee prices and reshaping consumer expectations and market dynamics [4][5][6]. Price War Dynamics - Two years ago, brands like Luckin and Kudi set coffee prices at 9.9 yuan, but new tea brands like Guming and Cha Baidao have pushed prices down to the 4 yuan range [6][10]. - Major players including Starbucks have also joined the price reduction trend, with Starbucks reducing prices on several products by an average of 5 yuan, marking a significant shift in their pricing strategy [6][8]. - The competition has evolved into a full-scale industry battle, with various brands engaging in aggressive promotions and price cuts [7][8]. Consumer Behavior and Market Impact - The introduction of low-priced coffee has become the norm, with consumers able to purchase coffee for as low as 0.5 yuan through delivery platforms [7][18]. - The price war has led to a redefinition of coffee's value, with high-end brands struggling to maintain profitability and some even resorting to selling their businesses [8][23]. - The coffee market has seen a significant increase in the number of stores, but also a high rate of closures, with over 50,000 coffee shops exiting the market in the past year [23]. Brand Strategies and Responses - Guming has launched aggressive pricing strategies, offering coffee at 4.9 yuan, significantly undercutting competitors like Luckin and Kudi [11][12]. - Other tea brands, such as Cha Baidao, are also entering the low-price coffee market, indicating a trend where tea brands are diversifying into coffee to capture new market segments [12][13]. - Luckin and Kudi have responded to the price war by introducing their own low-priced coffee options, with Luckin offering promotions that bring prices down to as low as 2.9 yuan [14][18]. Industry Outlook - The coffee industry is becoming increasingly segmented, with a variety of price points catering to different consumer preferences [24]. - The long-term sustainability of the coffee market will depend on the development of supply chains and the ability of companies to adapt to changing consumer demands [24].