Core Viewpoint - The article discusses the increasing complexity and commercialization of college entrance examination (Gaokao) application processes in China, highlighting the significant market growth and the psychological impact on students and parents [4][11][39]. Group 1: Market Dynamics - The market for college application consulting services has grown tenfold over the past decade, with significant price increases for services offered [4][10]. - In 2022, a popular service by Zhang Xuefeng sold out in 20 minutes, indicating high demand and willingness to pay among parents [4]. - The number of companies involved in Gaokao application consulting has exceeded 1,300, with nearly 70% located in high-exam provinces like Hebei [34]. Group 2: Changes in Application Mechanisms - The Gaokao application process has evolved from a score-based system to a more complex model that includes dynamic rankings and parallel applications, increasing the difficulty for students [10][14]. - The introduction of "knowing scores" and "parallel applications" aims to reduce the risk of being rejected but has also made the application process more intricate [11][12]. - The number of available application choices has significantly increased, with some provinces allowing students to select up to 270 different major options [14][16]. Group 3: Psychological Impact and Anxiety - The pressure of making the right choice in college applications is immense, as it can significantly affect future career paths and income potential [18][39]. - The article emphasizes that many students and parents are driven by anxiety and uncertainty, leading them to seek external guidance and reassurance [32][40]. - The complexity of the application process has created a lucrative business for consultants, who provide services to help alleviate this anxiety [35][37]. Group 4: Professional and Industry Trends - The choice of major is increasingly important, as the number of university programs has expanded, but the number of prestigious institutions has remained stable [17][26]. - The article notes that industry trends often dictate the popularity and perceived value of certain majors, which can lead to mismatches between student choices and job market demands [25][29]. - The article highlights that successful career outcomes are often influenced more by industry dynamics than by the educational institutions themselves [26][30].

Core Viewpoint - The article discusses the recent leadership change at Gree Electric Appliances, where Dong Mingzhu stepped down as the legal representative of its chip subsidiary, Zhuhai Zero Boundary Integrated Circuit Co., Ltd, signaling a potential shift in the company's governance and strategic direction [6][8][18]. Group 1: Leadership Change - Dong Mingzhu has stepped back from her role as the legal representative and chairman of Zhuhai Zero Boundary Integrated Circuit Co., Ltd, with Li Shaobin taking over [8][9]. - This change is seen as more than a routine corporate adjustment, given Dong's close ties to Gree and her previous hands-on approach to the company's chip business [10][22]. - The timing of this leadership transition raises questions about the future direction of Gree and whether it indicates a deeper power transfer within the company [20][22]. Group 2: Chip Business Growth - Zhuhai Zero Boundary was established in August 2018 with a registered capital of 1 billion yuan, focusing on integrated circuit chip design and sales [11][12]. - The chip business has seen significant growth, with cumulative shipments surpassing 100 million units by 2022 and projected revenues of 15 billion yuan in 2024, marking a 50% year-on-year increase [15][16]. - The chip division has become Gree's second-largest profit source, contributing nearly 11% to the group's total profit [15][16]. Group 3: Strategic Implications - Dong Mingzhu's departure from direct management roles is interpreted as a strategic move towards institutionalizing Gree's operations, transitioning from a founder-driven model to a more collaborative governance structure [40][43]. - Li Shaobin, her successor, is described as a typical "system cadre" who understands Gree's product and research culture, indicating a shift towards a management system that can sustain Gree's strategic vision [41][43]. - The article suggests that this transition may lead to a more stable and sustainable future for Gree, aligning with Dong Mingzhu's long-term vision for the company [44].

Core Viewpoint - TikTok is navigating significant uncertainty regarding potential bans while aggressively pursuing commercialization to expand its influence and counteract the threat of being banned [4][10]. Group 1: User Growth and Market Position - As of May, TikTok's overseas monthly active users surpassed 1 billion for the first time, indicating strong user growth despite regulatory challenges [5]. - TikTok has accumulated substantial influence among young users, which has allowed it to engage with political figures like Trump and Biden during critical moments, such as the presidential elections [9]. Group 2: E-commerce Strategy and Challenges - TikTok Shop, launched in the second half of 2023, is becoming a crucial revenue driver, achieving a GMV that surpassed its UK counterpart developed over four years within just one and a half years [10]. - The e-commerce team has set an ambitious growth target of nearly 100% for 2025, with expectations for the U.S. market to see close to 200% growth [11]. - However, the e-commerce segment faces challenges, including a decline in daily sales since March and significant price increases due to tariffs, which have led to reduced consumer engagement [12][13]. Group 3: Regulatory Environment and Future Outlook - The potential for a ban remains a significant concern, with predictions suggesting that TikTok may have to relinquish control or equity to continue operating in the U.S. market [18]. - The unpredictable nature of Trump's decisions adds to the uncertainty, as he may use the situation as a negotiation tactic [18]. - The current political climate is influencing businesses' confidence in TikTok, with many merchants reconsidering their investment in the platform and exploring alternatives like Amazon [22].

以下文章来源于硬氪 ，作者黄楠 专注全球化、硬科技报道。36kr旗下官方账号。 硬氪 . 有效解决真机数据稀缺与场景泛化的矛盾。 文 ｜ 黄楠 编辑 ｜ 袁斯来 来源｜ 硬氪（ID： south_36kr ） 封面来源 ｜ IC photo 硬氪获悉，北京智在无界科技有限公司（以下简称 " 智在无界 " ，英文为BeingBeyond）近日完成数千万元融资，联想之星领 投，智谱Z基金、燕缘创投、彬复资本跟投，势能资本担任独家财务顾问。资金将用于加大核心技术研发投入，加速现有模型迭 代与产业化验证，以持续提升技术壁垒与产品竞争力。 " 智在无界 " 成立于2025年1月，专注人形机器人通用大模型的研发与应用。创始人卢宗青是北京大学计算机学院长聘副教授，曾 任智源研究院多模态交互研究中心负责人，负责过首个国家自然科学基金委原创探索计划通用智能体项目；多位核心成员均来自 智源研究院，在强化学习、计算机视觉、机器人控制和多模态等领域有丰富的技术研发积累和应用落地经验。 当前，数据规模与泛化能力是制约具身大脑性能提升的核心矛盾。一方面，具身智能机器人要实现高度拟人化的行动与决策能 力，依赖海量且多样化的数据进行深度训练 ...

以下文章来源于IC实验室 ，作者IC实验室 文 ｜ IC实验室 来源｜ IC实验室（ID： InsightPlusClub ） 封面来源 ｜ Pixabay 大家有没有发现，这一两年，路边多出不少街头烤鸭店。 店家会在门口立起一个不锈钢旋转烤箱，一只只烤好的鸭子就在烤箱里不断转动，在灯光下色泽红亮，泛起油光。 IC实验室 . 从品牌看商业。 鸭子浑身都是宝，这意味着一只鸭子，能分割出来的SKU就更丰富。 虽然这些个街头烤鸭个头都不大，扁得像张饼，看上去就很干柴，和我们印象里，圆润丰盈的北京烤鸭完全不同，但奈何价格实在便宜。 25、22，甚至 有的地方只卖18块钱一只。 给人一种鸭圈蜜雪冰城，买到就是赚到的感觉。 这样的便宜烤鸭，也不算是什么新鲜东西，但这几年，街头烤鸭突然爆发式地增长，大街小巷都出现了这样的烤鸭小摊档。 快速的增长也让很多人感到疑惑，哪来这么多、这么便宜的鸭子？ 要知道，我们自己去买鸭肉，一斤冰鲜鸭肉可能就要20多块钱。活鸭可能要卖大几十甚至上百。而街头烤鸭，一只就卖20左右，虽然小了点，但那可是整 鸭啊。会不会有问题？会不会又是科技狠活？ 所以这期我想聊聊，20元的烤鸭，到底有什么名堂。 养 ...

以下文章来源于Vista看天下 ，作者指听 Vista看天下 . 一个永远理解你的朋友 此时你尝试从旁边抽点卷纸垫一下马桶圈，一摸里面却只剩下了光滑的纸壳芯。 "最终只能气沉丹田、稳扎马步，走出厕所的时候腿都在哆嗦。" 前两天，一位网红拍视频吐槽"能不能把公共场所的厕所马桶通通取消"，让不少网友深感共鸣。 图源：自媒体博主"我是张凯毅" "搞不懂为啥越高级的商场厕所越要安马桶""不想跟人屁股碰屁股""在马桶圈看到鞋印，还不如直接弄成蹲厕"。 但也有坚定的马桶党，对这种倒反天罡的意见深恶痛绝： "那么喜欢蹲厕在自己家安一个，我就觉得马桶挺好的！" 商场洗手间全是马桶，这合理吗？ 文 ｜ 指听 来源｜ Vista看天下（ID：vistaweek） 封面来源 ｜ uns plash 一个足以让很多人崩溃的场景：某天你在商场B1吃完饭出来打算随便逛逛，突然感觉肚子里一阵翻江倒海。 立刻飞奔到厕所，好不容易排队进了隔间准备蹲下，却发现眼前出现的不是蹲厕，而是 一个马桶。 蹲厕好还是马桶好 网友快打起来了 在一些同时安装了蹲便器和马桶的商场或景区厕所里，经常会发生这样的事—— 蹲厕那边的隔间大排长龙，马桶这边却冷清之极。 ...

每当年轻人琢磨着上车买房，就会被长辈们教育着要坐北朝南、左东右西，不买顶楼、不买边户。 但看看兜里的余额，别人嘴里的买房教训，反倒成了省 钱秘籍。 以下文章来源于三联生活实验室 ，作者Lily 三联生活实验室 . Never Bored 城市Cool Guy生活样本 人人嫌的公路房， 年轻人扎堆买买买。 文 ｜ Lily 来源｜ 三联生活实验室（ID：LIFELAB2020） 封面来源 ｜ unsplash 最懂性价比的年轻人，早已学会了低价捡漏——容易反水的二楼加个溢流管，分分钟被爆改成树景豪宅；闷热的西晒房被当成了阳光房平替，妈妈再也不用 担心我缺钙。 但谈到最头铁的年轻人，一定是敢上车买马路房的这群人。 图源：里外家 所谓的马路房，就是小区里临街那栋楼里的房子，有的马路房不仅挨着马路，甚至还挨着车水马龙的高架。 买了马路房的人会告诉你，这种房子虽然价格比内里的楼栋便宜，但是噪音分分钟让人崩溃。"自从买了马路房后人都快抑郁了， 一天到晚都是车水马龙、 灯红酒绿，就跟在KTV开房睡觉一个样，但凡神经衰弱点都得疯。 " 结果，人人嫌的公路房，年轻人扎堆买买买。 图源：爱吃巧乐兹的西瓜 在五星级酒店里，临街的房 ...

Core Viewpoint - The article discusses the complexities and challenges of the new college entrance examination (Gaokao) system in China, emphasizing the need for advanced tools like AI and big data to assist students in making informed decisions during the college application process [2][3][4]. Group 1: New Gaokao Reform - The new Gaokao reform introduces a more complex subject selection model, replacing the traditional division between arts and sciences, leading to an increase in the number of application choices for students [4]. - The number of parallel application choices has increased to 45, with some provinces allowing over 80 choices, significantly more than the previous maximum of 36 in Liaoning [4]. Group 2: Challenges in Application Process - Students and parents face heightened anxiety due to the overwhelming number of choices and the complexity of the admission policies, requiring extensive research within a limited time frame [5][8]. - Many families opt to hire expensive consultants for guidance, with some packages costing up to 17,999 yuan, reflecting the high stakes involved in the application process [6][7]. Group 3: The Role of AI in College Applications - AI tools for college application assistance have emerged, but initial skepticism regarding their reliability has limited their adoption [10][14]. - The article highlights the capabilities of AI tools, such as the "AI志愿助手," which can provide personalized recommendations based on a student's score and preferences, returning results in under three seconds [20][21]. Group 4: Data-Driven Decision Making - The AI tools utilize extensive historical data to calculate admission probabilities for various universities and programs, aiding students in making informed choices [21][31]. - The integration of MBTI personality assessments into the application process allows for a more tailored approach, aligning students' interests with suitable career paths [44]. Group 5: Accessibility and User Experience - Baidu's AI college application tools are offered for free, contrasting with many competitors that charge for similar services, thus promoting wider access to information [56][57]. - The platform also includes live interactions with university representatives and experienced students, providing real-time insights and support [58][51]. Group 6: Market Dynamics and Future Outlook - The article notes that despite the challenges, the adoption of AI tools in college applications is growing, with over 10 million users utilizing Baidu's AI志愿助手, indicating a significant shift in how students approach the application process [61]. - The emphasis on personalized decision-making reflects a broader trend towards integrating technology in education, aiming to empower students to take control of their futures [61].

Core Viewpoint - The article highlights Xiaomi's achievement of setting a new record for the fastest production electric vehicle at the Nürburgring Nordschleife, showcasing the company's technological advancements and commitment to quality and safety in the automotive industry [4][9][28]. Group 1: Performance Achievement - Xiaomi's SU7 Ultra achieved a lap time of 7 minutes 4.957 seconds, surpassing the previous record held by Porsche's Taycan Turbo GT [4][9]. - The vehicle is a legal production model, priced at 671,900 yuan, demonstrating that high performance can be accessible to consumers [8][9]. - This achievement marks a significant milestone for Chinese automotive manufacturing, positioning Xiaomi as a serious competitor in the electric vehicle market [9][28]. Group 2: Technical Insights - The SU7 Ultra's performance is attributed to its advanced engineering, including a self-developed V8s super motor with a power density of 10.14 kW/kg and a maximum speed of 346 km/h [23][36]. - The vehicle's weight is approximately 2.36 tons, which is heavier than Porsche's model, yet it maintains competitive performance through superior motor technology and design [18][22]. - Xiaomi's focus on high-tech, high-quality, and high-safety standards is evident in the vehicle's design and performance capabilities [28][49]. Group 3: Industry Context - The Nürburgring has historically been dominated by Porsche, making Xiaomi's achievement a significant disruption in the automotive industry [26][40]. - The article emphasizes the importance of technological innovation in overcoming challenges faced by Chinese automotive brands in a competitive market [35][44]. - Xiaomi's success at the Nürburgring is seen as a step towards gaining global recognition and respect in the automotive sector, challenging the traditional dominance of Western brands [45][49].

Core Viewpoint - The article discusses the phenomenon of "cigarette butt stocks" in the Chinese internet sector, particularly focusing on social media companies that, despite having strong business models and profitability, are trading at low valuations, often below their cash reserves [4][5][23]. Group 1: Definition and Characteristics of Cigarette Butt Stocks - Cigarette butt stocks are generally defined as those whose market capitalization falls below their cash reserves, often indicated by a price-to-book (PB) ratio of less than 1 [5]. - The term gained popularity through Warren Buffett's analogy, where he likened finding such stocks to picking up a cigarette butt that can still provide a puff of profit [5]. Group 2: Case Studies of Social Media Companies - Zhihu, a prominent Q&A platform, has a market capitalization of approximately $350 million, while its cash reserves are close to $6 billion, indicating a significant disparity [17][18]. - Momo, a leader in stranger social networking, has a market cap around $1.134 billion, with net cash of $1.4 billion and a TTM price-to-earnings ratio of about 7, showcasing its profitability despite a declining stock price [6][7]. - Weibo, another major player, has a market cap of $2.36 billion, which is less than its cash reserves of $2.4 billion, and it has maintained a high profit margin with a net income of approximately $396 million [13][14]. Group 3: Financial Performance and Shareholder Returns - Momo reported revenues of 2.52 billion yuan and a profit exceeding 400 million yuan, with an adjusted net profit forecast of 1.233 billion yuan for 2024, indicating strong financial health [6][8]. - Momo has returned significant value to shareholders through stock buybacks, repurchasing 13% of its shares in 2024, and offering a dividend of $0.54 per share, translating to a yield of about 10% [8][9]. - Weibo has also been generous with dividends, distributing over $0.8 per share annually since 2023, resulting in a yield exceeding 8% based on current stock prices [15]. Group 4: Market Dynamics and Challenges - The article highlights a "reverse network effect" where social media platforms experience rapid user decline, making it difficult to recover once they enter a downward cycle [28][30]. - Companies like Momo and Soul have seen significant drops in active users, with Momo's paid users decreasing by 40% over three years, reflecting the challenges in maintaining user engagement [30][33]. - The article notes that many social media platforms struggle with monetization, often relying on low-efficiency value-added services, which leads to poor revenue generation compared to their user base [33][34]. Group 5: Broader Implications and Trends - The decline of these social media stocks is not merely a result of poor performance but also reflects broader market trends and investor sentiment towards the internet sector [23][24]. - The article suggests that despite their strong fundamentals, these companies are viewed as cigarette butt stocks due to their low market valuations, leading to a lack of investor interest [31][39].