Core Viewpoint - Wanda Group is facing significant financial distress, with multiple legal actions leading to asset freezes and forced executions totaling over 5.2 billion yuan, indicating severe liquidity issues and potential restructuring needs [2][3][4]. Group 1: Legal and Financial Issues - Wanda Group and its legal representative Wang Jianlin have been restricted from high consumption due to ongoing legal cases [1]. - The company has been subjected to forced executions amounting to 186 million yuan in a recent case [2]. - The total amount of forced executions against Wanda Group has exceeded 5.2 billion yuan, with significant amounts executed since August 2025 [3]. Group 2: Asset Freezes - The scale of frozen shares for Wanda Group is increasing, with 1.979 billion yuan worth of shares in Wanda Commercial Management frozen by the Beijing Financial Court [4]. - In early September, shares worth 9.4 billion yuan in two subsidiaries were also frozen, with a three-year freeze period [4]. Group 3: Asset Disposal - To manage debt pressure, Wang Jianlin is intensifying asset disposals, including a significant transaction where 48 companies under Wanda Commercial Management are set to be acquired by a consortium led by Taiping, with participation from Tencent and others, potentially reaching 50 billion yuan [4]. - The 48 companies involved are primarily project companies for Wanda Plaza located in major cities, indicating a strategic move to liquidate core assets [4].

记者丨贺泓源 实习生 刘瑾睿 李音桦 编辑丨高梦阳 外卖大战，正在深刻地改变餐饮业。 比如，在号称800亿元规模的补贴下，淘宝闪购日均订单峰值达到1.2亿，美团也达到每日1亿订单量。 此种局面下，深刻冲击了承担着高房租的社区餐饮门店的客流，因为消费者被分流到线上外卖平台了。 眼下，餐饮本就不容易。 不少餐饮老板都向我强调，至少社区餐饮房租，必须降了！ 今天，我们就来聊下，外卖大战冲击下餐饮房租究竟去向何方。 首先，我们来看看餐饮市场究竟怎么样？ 答案是并不乐观。 一方面，价格战加剧。美团研究院数据显示，2024年，47.8%的持续经营餐饮商户降低了人均价位。其中，在人均价位 在百元以上的餐厅中，超过80%的商户出现了客单价下降的情况。 客观上，餐饮房租已经有了下滑态势。 不少餐饮品牌创始人告诉记者，一线城市的头部商场房租坚挺，甚至微涨。其他区域，房租有了松动趋势，但跌幅不 够明显。 需要看到，现在一线城市餐饮市场处在收缩区间。1—7月，北京餐饮收入同比下降3.6%至792.0亿元。同期，上海的餐 费收入同比下降2.9%至1141.95亿。 这意味着，随着营收下滑，一线城市的餐馆对高价房租的忍耐力明显下降。 社 ...

Core Viewpoint - Leap Motor has been listed as a "dishonest executor" due to a contract dispute with Guangzhou Shouqi Automobile Service Co., Ltd, but the company has stated that it has fulfilled its payment obligations as of June 25, 2024, totaling 3,618,085.25 yuan [1][2][5]. Group 1: Legal Issues - Leap Motor and its wholly-owned subsidiary, Lingpao Automobile Trading Co., Ltd, were designated as dishonest executors by the Guangzhou Baiyun District People's Court on September 25, 2025, due to an unresolved contract dispute [2][3]. - The court ruling indicates that Lingpao Automobile Trading owes Guangzhou Shouqi Automobile Service a total of 3,618,085.25 yuan, which includes rent, vehicle purchase costs, overdue payment penalties, and legal fees [5][3]. - Leap Motor is responsible for joint repayment of the debt owed by Lingpao Automobile Trading and must assist in transferring the registration of 73 vehicles to Lingpao within three months after payment [5][3]. Group 2: Financial Performance - Leap Motor reported a significant increase in sales, with a 155.7% rise to 221,700 vehicles in the first half of the year, leading to a revenue increase of 174.1% and a net profit of 33 million yuan [7]. - The company has set a gross margin target of 14% to 15% for the second half of the year, with expectations for continued growth in gross margin [9]. - Leap Motor's delivery data for August shows 57,100 vehicles delivered, an 88% year-on-year increase, marking a new high for the new energy vehicle sector [9].

Hitcard是由上海骑形网络科技有限公司于2021年创办的潮玩IP卡品牌，专注于成人收藏卡领域。此前，公司已经获得上海联创投资 创始人冯涛、泡泡玛特、红杉中国种子基金、千岛潮玩族、日本头部娱乐集团CyberAgent以及阅文集团等机构与产业方的多轮融 资。 记者丨刘婧汐 编辑丨高梦阳 童年记忆里的卡牌纷纷奔赴资本市场。 继"行业老大"卡游向港交所递交招股书之后，有消息称， 成立仅四年的卡牌公司Hitcard也开始推进上市进程，集换式卡牌市场将 迎来"变现时代"。 是卡游还是Hitcard离成功IPO尚有一段距离。 其中，大股东阅文集团在公司发展中扮演重要角色。2024年10月获阅文集团领投数千万人民币后，阅文集团拥有Hitcard公司10%的 股权，同时Hitcard可深度接入阅文旗下1000+IP库，共享其线下渠道资源（如阅文好物实体店）。2024年，双方合作开发了《庆余 年》《全职高手》《一人之下》和《斗破苍穹》等知名IP卡牌。 与炙手可热的泡泡玛特盲盒产品相似，集换式卡牌兼具随机性、观赏性和收集价值，核心受众群体为Z世代消费者。 在IP运营方面，Hitcard同样通过签约IP丰富旗下IP矩阵。目前Hi ...

山东国资入主后，德邦证券再迎人事调整。 21世纪经济报道获悉，近期，德邦证券将引进高级管理人员，聘任魏峰为公司高级副总经理， 分管公司财富管理业务；拟聘任高立为公司首席风险官。 值得注意的是，这也是继今年5月底公司完成董事会换届后，德邦证券高管团队迎来的首次关 键扩容。德邦证券旨在通过引入行业优秀人才，推动财富管理业务向更加专业化、精细化、数 字化的方向发展。 在德邦证券引进两员大将的背后，是证券行业激烈的人才竞争。 据21世纪经济报道不完全统计， 年内已有超过20家券商发生核心高管的变更。 近年来，券商 相继加入市场化选聘高管的行列，自2024年以来，市场化招聘总经理的券商至少已有诚通证 券、东兴证券、粤开证券、国盛金控等。 魏峰在证券行业的从业经历已达20余年。 履历显示，她曾先后任职于南方证券股份有限公司、中国建银投资证券、安信基金，后加入国 投证券（安信证券）任副总经理分管财富管理业务。 2022年3月至2024年12月，在国投证券任职副总经理期间，身为分管财富管理业务的魏峰曾主 导公司的组织架构改革，并推动了其财富管理业务从传统经纪模式向"大财富管理"体系的战略 转型。 半年报显示，德邦证券财富管理 ...

记者丨易妍君 并且，中国的科技公司很明显已经走出来了。不过，因为技术上的"卡脖子"，以及起点较低，要走的路还很长。 编辑丨巫燕玲 人工智能领域的技术跃迁，在全球范围内掀起了一轮AI投资热潮，尤其是美股AI公司成为炙手可热的明星。 不过，近期，部分海外投资者开始担心AI产业泡沫化的问题，美股AI板块波动加大。 市场的核心分歧在于，眼前这场史无前例的AI投入，究竟是一次能带来长期回报的合理押注，还是一场终将破裂的资 本狂欢。 "对于投资人来说，当前最大的不确定性是资产全面泡沫化。不仅仅是美国AI科技相关的公司，以及中国市场上出现的 一系列新行业，很多人看不懂它们的估值，因为是一种新模式。但不确定性本身孕育着未来的机会。" 9月25日，莲华 资产管理首席投资官、管理合伙人洪灝在2025年《财富》世界500强峰会上表示。 他认为，新的生产力发展过程中，加上充沛的流动性，全面泡沫化基本上是大概率事件，但其中产生的投资回报和机 会值得把握。 图片来源：2025年《财富》世界500强峰会 洪灝谈道，在最近几个财报季，可以看到美国的高科技公司，其盈利增速仍在加快。同时，一些科技巨头的现金流非 常大。科技企业财务报表的不断改善 ...

Core Viewpoint - The article discusses the challenges faced by the cultural tourism industry in Henan, particularly the need to transition from short-lived popularity to sustainable growth, emphasizing the importance of innovative and differentiated offerings in the market [1][4][11]. Group 1: Current Trends in Cultural Tourism - Recent years have seen a surge of popular cultural tourism projects in China, but many face the risk of becoming fleeting trends [4][5]. - The rapid growth of Chinese tourists and their evolving aesthetic preferences necessitate a shift towards high-quality, boutique experiences in cultural tourism [1][4]. Group 2: The Launch of New Projects - The newly unveiled "Luoyang Shendu Shisan Fang" project aims to integrate performance, technology, and commerce, representing a shift in Henan's cultural tourism strategy [1][8]. - This project, covering approximately 185,000 square meters, features immersive performances and advanced XR technology, aiming to create a unique cultural experience [1][8]. Group 3: Industry Challenges and Expert Insights - Experts highlight the issue of homogenization in cultural tourism projects, with many lacking innovation and differentiation, leading to potential price wars [5][12]. - The article notes that while some projects have generated significant visitor numbers and revenue, such as the 5.2 million participants in Hanfu experiences in Luoyang, sustaining interest over time remains a challenge [5][11]. Group 4: Future Directions for Henan's Cultural Tourism - The article emphasizes the need for Henan to build a comprehensive industrial ecosystem rather than relying on individual projects for long-term success [11]. - Experts advocate for a focus on unique cultural advantages and market-driven operations to avoid competition with other regions [12].

Core Viewpoint - Fuda Alloy is undergoing a significant asset restructuring by acquiring a 52.61% stake in Zhejiang Guangda Electronic Technology Co., Ltd. for 352 million yuan, marking a strategic move into the photovoltaic conductive silver paste sector [2][4]. Group 1: Fuda Alloy's Acquisition - The acquisition price for Guangda Electronic is set at 352 million yuan, and upon completion, it will become a subsidiary of Fuda Alloy [2]. - The transaction follows the termination of a previous acquisition of Sanmenxia Aluminum Industry worth 15.5 billion yuan [2]. - The assessment of Guangda Electronic shows a book value of 247 million yuan and an appraisal value of 670 million yuan, resulting in an appreciation rate of 171.38% [4]. Group 2: Performance Commitments and Risks - The performance commitment stipulates that Guangda Electronic must achieve a cumulative net profit of no less than 203 million yuan over the years 2025, 2026, and 2027, with clear compensation arrangements if the commitments are not met [4]. - Several risks are associated with the transaction, including the potential failure to meet performance commitments, industry volatility, high customer concentration, and fluctuations in raw material prices [5]. Group 3: Market Context - As of September 26, Fuda Alloy's stock closed at 20.07 yuan per share, with a total market capitalization exceeding 2.7 billion yuan [4].

Core Viewpoint - Jiangsu is actively responding to the dual challenges of global supply chain restructuring and domestic industrial transformation by enhancing foreign investment and focusing on key industries [3][4]. Group 1: Foreign Investment Strategy - Jiangsu has established multiple high-level international cooperation industrial parks and bases, such as the Sino-German Enterprise Cooperation Base in Taicang and the Sino-Korean Industrial Park in Yancheng, to attract foreign investment [8][9]. - In 2024, Jiangsu's actual foreign investment reached $19.05 billion, maintaining the highest level in the country for seven consecutive years, with a cumulative total of $103.74 billion [8]. - The investment from countries like Germany, Japan, and Switzerland has seen an increase of over 90% since 2025, highlighting the effectiveness of Jiangsu's targeted foreign investment strategy [8]. Group 2: Industrial Development and Ecosystem - Taicang has become a hub for over 560 German enterprises, contributing significantly to the local economy, with German companies accounting for 8% of Taicang's GDP and 20% of its public fiscal revenue [9][10]. - The focus on key industries, such as the automotive parts supply chain, has led to the establishment of over 700 companies in Taicang's new energy vehicle sector, with a market share exceeding 30% for several core components [10][11]. - Jiangsu is guiding foreign investment towards advanced manufacturing, modern services, and high-tech industries, with manufacturing foreign investment accounting for 36.2% of total foreign investment from 2021 to 2024 [19]. Group 3: New Investment Models - The SK battery project in Yancheng represents a new investment model where raw materials are imported from Korea, and the finished products are exported to the U.S., demonstrating a unique production and supply chain strategy [20]. - The collaboration between Jiangsu's Jiaao New Energy and BP Global aims to leverage BP's global sales network to expand into overseas markets, showcasing a strategic partnership for sustainable aviation fuel production [21]. - The introduction of innovative projects, such as the "Lighthouse Factory" by Faurecia in Yancheng, emphasizes the focus on technology and efficiency improvements to enhance market competitiveness [16][17].

以下文章来源于一见Auto ，作者易思琳 一见Auto . 汽车竞争中的野心、方法论与新秩序。21世纪经济报道旗下汽车报道品牌。 记者丨易思琳 编辑丨吴晓宇 9月26日，目前理想汽车旗下最小的一款纯电车型理想i6正式上市。i6全系只有一款车型、一 个价格，售价24.98万元。10月31日前为首销期，新车将于9月27日起开始交付。 关注i 6的用户超1 0万，i 6上市前7 2小时全纪实 三个月销量承压后，理想i6是理想背水一战的纯电产品 。 为此，理想拿出了满满的诚意。首 销期内，理想i6直减1万元，价格为23.98万元，还标配后驱、空悬、VLA和冰箱，续航为 720km。 空间方面，理想i6长4.95米，轴距3米，远超特斯拉 Model Y，后者长4.8米，轴距2.98米。但 在价格上，理想i6比 Model Y便宜 1.37万元。 在i6的发布上，理想采取了一种新型的发布方式——跳过小订阶段，直接上市发布，用户有7 天的时间犹豫决定是否锁单。一位理想内部的员工告诉《21汽车·一见Auto》，在9月25日官宣 首位品牌代言人之前，后台显示，全国关注i6这款产品的用户已经超过10万名，是理想汽车热 度攀升最高 ...