这种非理性竞争将让企业陷入不良循环，该领域内的相关企业不得不压缩必要的生产成本、 降低产品质量，从而换取价格优势。一方面，这种情况会挤压产业链上下游利润空间，不仅 影响企业再生产与研发投入，更会影响整个行业发展后劲。另一方面，非理性竞争最终会因 为质量问题等损害消费者利益，导致市场对相关商品的信任感下降。从宏观层面看，这种持 续的非理性的价格竞争可能会使相关行业的落后产能挤出先进产能，抑制行业的创新活力， 扭曲资源配置效率，导致市场淘汰机制失灵。 近日，工信部部长李乐成在国新办新闻发布会上回答行业治理问题时表示，"企业产业的培育 可谓千辛万苦，而非理性竞争毁掉一个企业、毁掉一个产业，可能一夜之间，我们绝不能容 忍这种事情发生。" 所谓非理性竞争，主要是指向近几年我国一些领域出现的"内卷式"竞争现象。历史表明，市 场是配置资源最有效率的形式，竞争是市场经济运行的重要机制。通过市场竞争优化资源配 置，实现优胜劣汰，能够倒逼企业不断创新，最终提高经济运行效率，促进经济发展与技术 进步。 价格竞争是市场中最常见的竞争方式。在一些相对低附加值的领域，部分企业为追求市场占 有率会采取价格战方式赢得竞争优势；而在高附加值领 ...

Core Viewpoint - The photovoltaic industry is still in a bottoming phase in the first half of the year due to a year-on-year decline in industry chain prices, with a total revenue of 615.28 billion yuan, a decrease of approximately 65 billion yuan compared to the same period last year, and a net profit attributable to shareholders of listed companies of 7.64 billion yuan, down from 17.01 billion yuan in the previous year [1][2]. Revenue and Profit Analysis - A total of 110 photovoltaic listed companies reported a combined revenue of 615.28 billion yuan in the first half of the year, a decrease of about 65 billion yuan year-on-year [1]. - The net profit attributable to shareholders was 7.64 billion yuan, compared to 17.01 billion yuan in the same period last year [1]. - Some companies, such as 阳光电源 and 北方华创, showed significant year-on-year growth in revenue and net profit, with 阳光电源 achieving a revenue of 43.53 billion yuan and a net profit of 7.73 billion yuan, representing a 40.34% and 55.97% increase respectively [2]. Losses and Recovery - The number of companies reporting losses increased to 47 from 39 in the previous year, indicating a worsening loss situation in the photovoltaic sector [5]. - However, several companies managed to reduce their losses compared to last year, including 隆基绿能 and 爱旭股份, attributed to technological differentiation and cost control [5][6]. - The five largest component manufacturers, including 通威股份 and 天合光能, collectively reported losses of nearly 16 billion yuan, highlighting the ongoing challenges in the component segment [5]. Cash Flow Improvement - The net cash flow from operating activities for the 110 photovoltaic listed companies turned positive, amounting to 29.45 billion yuan, a significant improvement from the previous year [8]. - The second quarter saw a particularly strong performance, with a net cash flow of 28.99 billion yuan, reflecting a 60-fold increase from the first quarter and a 20% year-on-year growth [8]. Industry Dynamics and Policy Impact - The photovoltaic industry is experiencing a recovery in risk appetite due to policy adjustments and expectations of supply-demand improvements, with some companies reporting reduced losses or turning profitable in the second quarter [3]. - The government is actively addressing irrational competition in the industry, aiming to guide companies towards sustainable pricing strategies and capacity adjustments [9][10]. - The overall accounts payable in the industry exceed accounts receivable, indicating short-term debt pressure, necessitating continued efforts in managing competition and pricing [10].

Core Points - Charlie Kirk, a prominent conservative activist and ally of former President Trump, was shot and killed during a speech in Orem, Utah, at the age of 31 [1][3] - The shooting occurred around 12:10 PM, with Kirk being shot while seated at an outdoor podium, leading to chaos as attendees fled the scene [3] - Trump expressed condolences on social media and ordered flags to be flown at half-staff nationwide until the evening of September 14 [5][10] Incident Details - The shooter, who was dressed in dark clothing, fired from a rooftop on campus, and the suspect has been apprehended [8] - Utah's Governor Spencer Cox described the incident as a "political assassination" [8] Background on Charlie Kirk - Kirk was a co-founder of the conservative nonprofit organization "Turning Point USA" and a significant figure in Trump's "Make America Great Again" movement [11] - His speech at Utah Valley University was part of a tour titled "Prove Me Wrong," where he invited audience members to debate political ideas [11] - Prior to the event, there were student petitions to cancel Kirk's speaking engagement at the university [11]

Core Viewpoint - The 2025 China International Service Trade Fair (CIFTIS) emphasizes the integration of digital technology in service trade, focusing on artificial intelligence, fintech, and green low-carbon initiatives, marking a shift towards intelligent, integrated, and sustainable service trade models [1][3]. Group 1: Event Overview - The CIFTIS opened on September 10, 2025, in Beijing, showcasing the growth and innovation in China's service industry and trade over the past 11 years [3]. - The event features participation from 85 countries and international organizations, with nearly 2,000 enterprises, including around 500 Fortune 500 companies, highlighting a significant international presence [3]. - This year's fair is notable for being held at the Shougang Park, with nine thematic exhibitions covering various service sectors [3][5]. Group 2: Technological Focus - The fair places a strong emphasis on technological and intelligent applications, showcasing new technology applications, solutions, and the services behind them [5]. - The telecommunications, computer, and information services exhibition focuses on digital service trade and high-tech industries, including AI and low-altitude intelligent networks [5][6]. - The low-altitude economy, particularly showcased by companies like Hangjing Innovation, is a focal point, demonstrating advancements in unmanned aerial vehicles [5]. Group 3: Policy and Market Development - The Chinese government aims to enhance service trade innovation and competitiveness, encouraging service exports and expanding quality service imports [10][11]. - In the first half of the year, China's service trade reached a total import and export value of 3.9 trillion yuan, with service exports growing by 15% [10]. - Future strategies include leveraging China's service market advantages to connect domestic and international markets, promoting coordinated development of service imports and exports [11]. Group 4: AI and Innovation Initiatives - AI is a significant theme at the fair, with many companies prominently featuring AI in their exhibits, reflecting its role in transforming service models [6]. - The Beijing AI Ecosystem Partner Conference was held concurrently, highlighting the transition from understanding AI to its practical application in business [7][8]. - The release of the "Beijing General AI Industry Innovation Partner Plan 2.0" aims to foster collaboration and innovation in the AI sector [8]. Group 5: Global Trade Dynamics - The global value chain is shifting from manufacturing to services, with service trade becoming a key driver of international trade growth [11]. - Enhancing China's international competitiveness in service trade relies on embracing digitalization and high-end services [11]. - Active participation in global digital governance and simplification of cross-border service trade regulations are essential for maintaining a competitive edge [11].

记者丨 吴斌 编辑丨和佳 刘雪莹 据央视新闻报道，当地时间9月10日，美国总统特朗普在其社交平台"真实社交"上发文再次批 评美联储主席鲍威尔，并敦促立即大幅降息。 特朗普写道， 美国"没有通胀"，美联储"必须立刻大幅降息" ，并称鲍威尔是"一场彻底的灾 难"，还表示鲍威尔"毫无头绪"。 特朗普已多次要求鲍威尔降息。美国8月失业率上升至4.3%，创近4年来新高，就业数据恶化 强化了市场对美联储降息的预期，分析人士预计美联储或于9月开启新一轮降息。9月7日，白 宫经济顾问凯文·哈西特表示，美联储的货币政策必须完全独立，不应受到任何政治力量的影 响，包括来自总统特朗普的影响。 美国非农就业"蒸发"近百万 尽管市场对美国非农数据下修早有预期，但最终创纪录的下调幅度仍让人意外。 据央视新闻报道，在本次数据公布前，美国财长贝森特也预警年度非农就业数据可能下修多达 80万。然而，最终创纪录的下修幅度远比市场普遍预期的程度还要糟糕。 据新华社报道，美国劳工部9月9日发布的初步修订数据显示，2024年4月至2025年3月美国新 增非农就业岗位比最初统计的少91.1万个，表明美国就业市场的实际表现比此前数据显示的更 为疲软。非农 ...

记者丨李香香 编辑丨曾静娇 近日，股价录得11连板的天普股份引发市场关注，距上一次停牌核查并复牌后仅2个交易日， 今日再次公告将停牌。 9月10日，天普股份发布公告称，公司股票价格自8月22日至9月3日连续9个交易日涨停，期间 4次触及股票交易异常波动、2次触及股票交易严重异常波动，公司已就上述股票交易波动情况 进行停牌核查，于2025年9月9日公告核查结果并复牌。 复牌后9月9日和9月10日连续2个交易日涨停，再次触及股票交易异常波动，鉴于公司股价连续 涨停期间已累积巨大交易风险，为进一步维护投资者利益，公司就近期股票交易波动情况进行 停牌核查。 经申请，天普股份股票将于9月11日（星期四）开市起停牌，自披露核查公告后复牌。 自8月22日以来，天普股份已经连续拉出11个"一"字涨停板，三季度累计涨幅高达288.6%，股 价上涨接近3倍。从连板数量来看，天普股份比7月份大牛股上纬新材还多2个。截至9月10日收 盘，天普股份股价报76元/股，总市值为102亿元。 天普股份股价猛涨背后，与公司控制权变更的消息有关。 8月21日晚间，天普股份公告称，公司控股股东天普控股、天昕贸易、尤建义拟以协议转让方 式合计向中昊 ...

记者丨 谭海燕 实习生钟言 编辑丨林曦 一个城市的国际化程度，往往先从它的机场被感知。 今年以来，我国民航业加速恢复，民航国际客运航线网络不断拓展，国际航班量和旅客量进一 步增加。 随着China Travel火热进行，北京、上海、广州作为三大国际航空枢纽，正在展开激烈而微妙 的角逐。今年以来，在国际客流复苏的带动下，上半年上海浦东国际机场（简称"浦东机场"） 客流量强势登顶，广州白云国际机场（简称"白云机场"）和北京首都国际机场（简称"首都机 场"）则分列第二、第三。 然而，从城市的角度来看，同为国际航空枢纽城市，广州并不像北京、上海，用"双机场"来提 升城市在全国航空版图和全球网络中的竞争力。尽管位于珠三角枢纽（广州新）机场已经获批 开建，但这个机场实际上位于佛山。 背靠粤港澳大湾区城市群的广州，将强化航空枢纽的思路转为"做大做强"白云机场。目前，白 云机场T3航站楼竣工联合验收通过，待三期扩建完成后，白云机场将迈入"三航站楼、五条跑 道"的新阶段，年旅客吞吐能力提升至1.2亿人次，货邮吞吐能力达到380万吨，整体规模有望 跻身全球领先行列。 白云机场的竞争力不仅关乎航班量、旅客量和服务水平，更体现广州在 ...

记者丨李香香 刘雪莹 编辑丨曾静娇 视频 丨张迎 北京时间9月10日晚，美股三大指数集体高开，截至23:00左右，道琼斯指数翻绿，纳斯达克中国金龙指数回调1.35%。 | 道琼斯 | 纳斯达克 | 标普500 | | --- | --- | --- | | 45459.46 | 21979.48 | 6542.14 | | -251.88 -0.55% +99.99 +0.46% +29.53 +0.45% | | | | 中国金龙 | 纳指100期货 | 标普500期货 | | 8119.35 | 23972.25 | 6551.75 | | -111.51 -1.35% +98.25 +0.41% +30.00 +0.46% | | | 美股人工智能、云计算等领域多只个股创新高，英伟达股价涨幅扩大至5%，创2周新高；博通股价涨幅扩大至10.6%，续刷新高。台积电涨幅 扩大至5.3%，再创新高。 下跌方面，EDA软件龙头新思科技股价暴跌35%，创下自2004年以来最大跌幅； 蔚来跌超9%； 苹果盘中一度跌超3%，消息面上，北京时间凌 晨，苹果举行秋季新品发布会（ 详情 ）。 | < 日 | 新思科技(SYN ...

Core Viewpoint - The energy storage industry is experiencing a surge in demand, leading to significant stock price increases for several energy storage companies, reflecting a global explosion in storage demand and market reshuffling [1][3]. Group 1: Company Performance - Major energy storage companies have reported impressive financial results for the first half of 2025, indicating an initial phase of industry reshuffling [3]. - Notable revenue growth was observed in several companies, with Sunshine Power (阳光电源) achieving a 127.78% increase in energy storage revenue, while DeYa Co. (德亚股份) saw an 85.80% rise in its energy storage battery revenue [5]. - CATL (宁德时代) maintained its position as the global leader in energy storage battery shipments, with a total of 55 GWh shipped in the first half of 2025 [6]. Group 2: Market Dynamics - The global energy storage battery shipment volume reached 246.4 GWh in the first half of 2025, marking a 115.2% year-on-year increase, significantly surpassing domestic new energy storage installations [9]. - The energy storage market is projected to grow at a compound annual growth rate (CAGR) of 70%, with the battery energy storage system (BESS) market share expected to rise from 5% five years ago to 25% by 2024 [9][10]. - The demand for energy storage is driven by policy and market mechanisms, transitioning from a passive role to a market-driven phase, enhancing profitability and certainty [10]. Group 3: Production and Supply Chain - The production capacity utilization rates for major companies have significantly improved, with CATL reaching 89.86% and EVE Energy (亿纬锂能) at 80% in Q2 2025, compared to less than 35% a year prior [7]. - There is a notable backlog in orders for energy storage cells, with some orders extending into 2026, indicating a strong demand-supply imbalance [7]. - Prices for energy storage cells have been rising, with mainstream models experiencing a cumulative increase of 10%-20% from June to July 2025, supported by a rebound in lithium carbonate prices [7]. Group 4: Global Expansion - Chinese energy storage companies signed 199 new overseas orders in the first half of 2025, with a total scale exceeding 160 GWh, reflecting a 220.3% year-on-year growth [11]. - The global energy storage market is expected to maintain an annual growth rate of around 30% over the next three years, driven by increasing demand in regions such as Europe, the Middle East, and Southeast Asia [11].

Core Viewpoint - The company, once a leader in the wedding photography industry, has rapidly collapsed due to service interruptions, financial mismanagement, and increasing consumer complaints, leading to its current state of suspension and legal issues [1][3][21]. Group 1: Company Financial Issues - The company has been executed for debts multiple times, with recent amounts of 22,000 yuan and 25,900 yuan being enforced by the Xiamen Xiang'an District People's Court [1][2][10]. - As of September 2025, the company has faced significant financial distress, including a total of approximately 18 million yuan in unpaid wages affecting nearly 300 employees [12]. - The company has also seen its equity frozen multiple times, indicating severe liquidity issues and ongoing legal disputes [9][10]. Group 2: Consumer Complaints and Service Disruptions - There has been a significant increase in consumer complaints, with nearly 300,000 discussions on social media platforms regarding issues such as difficulty in refunding deposits and unreceived wedding photos [3][8]. - The company has been accused of failing to deliver services as promised, with many consumers reporting that their wedding photography services were not fulfilled, impacting their wedding plans [8][21]. Group 3: Employee Experiences and Company Culture - Employees have reported being owed multiple months of wages and experiencing a lack of communication from management regarding their compensation [7][12]. - The company previously had a strong employee culture, offering training and competitive salaries, but this has deteriorated significantly as financial issues escalated [15][19]. Group 4: Business Model and Market Position - The company's heavy reliance on a high-cost operational model, which includes a large team of photographers and support staff, has contributed to its financial struggles, especially in a market characterized by low-frequency purchases [19][20]. - The company’s pricing strategy, starting at 6,999 yuan, has become a disadvantage compared to lower-priced competitors, further squeezing its market position [20].