Core Viewpoint - Guangdong is positioning inbound tourism as a key growth area for cultural and tourism consumption, aiming to become the "first stop for inbound tourists to experience Chinese life" [1][3]. Inbound Tourism Promotion - The "Discover Wonderful Guangdong" global promotion event was held in Guangzhou, marking a significant step in enhancing Guangdong's global influence in inbound tourism and promoting the Greater Bay Area as a world-class tourist destination [3][10]. - The event attracted 300 international travel professionals and influencers from over 60 countries, showcasing Guangdong's cultural richness and culinary delights [3][5]. Cultural Experience - The event featured an immersive cultural journey, including traditional lion dances and interactive experiences with eight intangible cultural heritage crafts, allowing international guests to engage with Guangdong's hospitality [5][6]. - A stage performance illustrated the emotional connection to Guangdong, with the launch of a promotional video highlighting the region's vibrant culture and culinary offerings [6][10]. Tourism Statistics - Guangdong has led the national inbound tourism market since 2023, with over 39.31 million inbound visitors and tourism foreign exchange income reaching 98.8 billion yuan in the first half of 2025, both showing over 30% year-on-year growth [10][11]. - The province's inbound tourism is particularly strong from markets such as Singapore, Malaysia, Thailand, and France, indicating robust growth potential [11]. Future Strategies - Guangdong plans to enhance its inbound tourism market through a series of global promotional activities, focusing on product innovation and diverse tourism offerings [12]. - Initiatives include creating a multi-stop Bay Area tour, personalized experiences, and promotional campaigns tied to major events like the 15th National Games and the Spring Festival [12]. - The province will also implement measures to improve the inbound tourism experience, such as upgrading service counters and optimizing travel logistics [12].

Core Viewpoint - The company, Xiechuang Data, is significantly investing in server procurement to enhance its cloud computing capabilities, with a total planned expenditure of up to 4 billion RMB for the current year, reflecting its strategic shift towards AI computing services [1][3][10]. Group 1: Investment and Financials - The total amount for the server procurement contracts is expected to not exceed 4 billion RMB, which is over 50% of the company's latest audited net assets [9]. - As of June 2025, the company reported a cash balance of 1.534 billion RMB, which is insufficient to cover the 4 billion RMB transaction, indicating potential reliance on bank credit for funding [9]. - The company has disclosed a cumulative investment of up to 8.2 billion RMB for high-performance servers by August 2025, with total investments nearing 12.2 billion RMB for the year [6][10]. Group 2: Business Performance - In the first half of 2025, Xiechuang Data achieved a revenue of 1.221 billion RMB from its intelligent computing products and services, with a gross margin of 20.06% [6][10]. - The company's overall revenue for the first half of 2025 reached 4.944 billion RMB, marking a year-on-year growth of 38.18%, while net profit attributable to shareholders was 432 million RMB, up 20.76% [10]. Group 3: Market Dynamics - The global AI server market is projected to grow significantly, with an expected market size of 177.4 billion USD by 2032, driven by increasing demand for computing power across various industries [13]. - The Chinese accelerated computing server market is anticipated to reach 22.1 billion USD in 2024, reflecting a year-on-year growth of 134%, primarily due to increased capital expenditures from major cloud service providers [14]. - Xiechuang Data is strategically positioned in the high-value segment of AI computing rental services, leveraging partnerships with NVIDIA for GPU supply advantages [10][14].

Core Viewpoint - The article highlights the successful introduction of Litang honey water at the 138th China Import and Export Fair, showcasing its unique quality and the support from the Bank of Communications in promoting local products to broader markets [1][5]. Group 1: Product and Market Development - Litang honey water, derived from a pristine environment, has gained attention for its unique flavor and quality, but faced challenges due to geographical remoteness and limited brand recognition [4]. - In June 2020, an innovative model combining cooperatives, enterprises, and farmers was introduced to enhance honey production, leading to the donation of 200 solar-powered intelligent beehives by the Bank of Communications in 2023 to stabilize honey output [4]. - The Bank of Communications has supported the development of a range of honey-related products, including gift boxes and various honey-based items, with honey water achieving annual sales of 1.2 million bottles [4][5]. Group 2: Recognition and Impact - The selection of Litang honey water as a designated product at the fair signifies recognition of its green and healthy quality, as well as support for the rural revitalization story behind it [8]. - The presence of Litang honey water at the fair serves as a platform to showcase the unique charm of highland products and the achievements of financial support in rural revitalization [5][11]. - The journey of Litang honey water from a remote area to an international stage represents a successful attempt to break geographical barriers, highlighting the potential for local products to thrive in global markets [11].

记者丨曾静娇 见习编辑张嘉钰 编辑丨张楠 SFC 10月22日，美股开盘涨跌不一，道指跌0.03%，纳指跌0.09%，标普500指数涨0.08%。 出品 | 2 1财经客户端 南财快讯工作室 以植物肉替代品闻名的食品公司Beyond Meat涨势凶猛，开盘飙升超60%，而后触发熔断，恢 复交易后涨幅迅速扩大至68%，再次触发熔断。 周杰伦公开喊话寻人，2300万比特币投资翻车，好友代持失联 多只黄金股最大回撤已超20% 月内规模已超45亿元，有消金机构0.3折拍卖19.74亿元不良信贷包 21君荐读 | W | BEYOND MEAT | | | --- | --- | --- | | BYND.O | | | | 6 1 1 1 1 量 6.12亿 股本3.98亿 市盈-15.8 | | 万得 | | +2.490 +68.78% 换 153.84% 市值24.3亿 市净-3.59 | | 참 □ | | 盘中・ 五日 日Ｋ 周Ｋ 月Ｋ 更多 | | | | 叠加 6.280 - | 卖1 6.350 73.48% | 100 | | | 买1 6.350 | 100 | | | 09:41 6.110 0 ...

Core Viewpoint - Despite recent price fluctuations, gold prices have risen significantly this year, with a year-to-date increase of over 50% [1][4]. Gold Price Trends - As of October 22, 2023, the spot gold price was reported at $4046.97 per ounce, reflecting a decrease of 1.89% from the opening price [1]. - Domestic gold brands have seen significant price drops, with brands like Zhou Shiliu and Laomiao experiencing declines of 5.29% and 6.41%, respectively [2]. Consumer Behavior - The "old for new" gold exchange program has gained popularity, with many consumers, especially young and older women, participating in this trend to acquire new and valuable gold jewelry [4][6]. - Consumers are utilizing social media and e-commerce platforms to find discounts, with some reporting savings of up to 6000 yuan through "克减" (weight reduction) promotions [14]. Market Dynamics - Major gold retailers have announced price increases for gold jewelry, with typical price hikes exceeding 10% [4]. - The "免折旧" (no depreciation) policy for exchanging old gold has attracted consumers, allowing them to trade in old pieces without losing value [6]. Investment Considerations - The gold market is experiencing heightened interest, but there are warnings about potential investment risks, including scams related to gold leasing and virtual investments [17][18]. - Experts suggest that while the gold bull market may experience short-term fluctuations, the long-term fundamentals supporting gold prices remain intact, advising investors to adopt a cautious and strategic approach [18].

记者丨 郭聪聪 编辑丨杨希 视频丨王学权 事件曝光：周杰伦公开喊话寻人 事件进入公众视野，是周杰伦在其拥有超过千万粉丝的Instagram账号上的连续发声"寻人"。 周杰伦先是发布了一则动态："有谁看到这位把自己也变不见的魔术师，通知我一下。"配图直 指他的多年好友——魔术师蔡威泽。 没过多久，周杰伦再发一条动态向蔡威泽喊话，语气明显加重。"这个朋友已经消失一阵子， 给了一堆借口，我也都相信，请你好好表演完。你以为我不是魔术师吗？再不出现，你就完 了。"随后，有网友发现，周杰伦已取消了对蔡威泽的社交账号关注。 面对周杰伦的公开喊话，蔡威泽在约一小时后作出了回应。 最近几天，关注周杰伦的粉丝们都注意到了周杰伦动态的反常——往常分享音乐创作、家庭日 常的 "周董"，突然画风一转， 接连发布两条动态"寻人" ，配图直指合作多年的魔术师好友蔡 威泽。 第二条动态里， 周杰伦更是直接喊话蔡威泽："这个朋友已经消失一阵子，给了一堆借口，我 也都相信，请你好好表演完。你以为我不是魔术师吗？再不出现，你就完了" ，随后网友发 现，周杰伦已取消了对蔡威泽社交账号的关注，两人关系破裂的信号十分明显。 据三湘都市报援引媒体报道，这 ...

记者丨李益文 编辑丨叶映橙 在"天价分享"引争议后， 胖东来创始人于东来再次发文称，将开放培训机构免费学习。 争议声中业绩继续飙高 更早之前，胖东来曾公布"企业开放日"计划，2025年11月1日起的每月10日、20日开放企业级 参访，每批不超过15人，同一企业最多5人参与，收费标准为每人20000元。 尽管于东来强调，所有收入费用全部用于传播美好之路，但争议仍随之而来。 有观点认为， 此举存在"形式大于内容，收割流量"嫌疑；亦有声音质疑，过高的收费门槛使得"商业智慧特 权化"。 对此，知名战略定位专家、福建华策品牌定位咨询创始人詹军豪接受21财经·南财快讯记者采 访时表示， 于东来强调费用"全部用于传播美好之路"，虽具公益色彩，但未改变商业交易本 质，仍属价值交换。 而这种表述有助于塑造其"商业向善"的个人IP，增强品牌社会责任感， 吸引认同其价值观的企业家，提升品牌美誉度。 中金公司也在研报中指出，单纯将胖东来模式进行全国复制扩张可能面临一定难度，主因其 高品质商品在低线城市较高线城市比较优势和稀缺性更强，且具有租金和人员成本相对较低 的红利，此外管理半径和品牌忠诚度在异地复制中存在挑战和限制。 10月22 ...

Core Viewpoint - The global precious metals market experienced significant declines, with COMEX gold futures and London gold spot prices dropping over 5%, and London silver spot prices falling more than 7% on October 21, indicating heightened volatility and caution among investors [1][6]. Volatility Indicators - The Gold Volatility Index (GVZ) surged by 20.87% on October 16, reaching a new high since April, signaling increased market risk and heightened investor caution [1][5]. - The GVZ index has been rising since October 6, indicating a shift from normal volatility levels (15-25) to a dangerous zone above 30, reflecting growing potential price fluctuations in gold [3][5]. Market Reactions - Following the spike in volatility, the Shanghai Gold Exchange issued risk warnings, and the Shanghai Futures Exchange adjusted margin requirements for gold and silver futures to mitigate potential risks [5][6]. - On October 21, gold prices fell sharply, with London gold spot prices dropping from $4,381.48 to $4,002.89 per ounce, and COMEX gold futures declining from $4,398 to $4,021.20 per ounce [6]. Stock Market Trends - There is a noticeable divergence between gold prices and gold stocks, with gold stocks like Zijin Mining and Shandong Gold showing limited gains compared to a 10% increase in London gold prices since the beginning of October [1][9]. - The Wind precious metals index has experienced a maximum drawdown of approximately 16.37% from mid-October highs, indicating a cautious sentiment in the secondary market [9][12]. Long-term Outlook - Despite short-term adjustments, the precious metals market is viewed as being in a long-term bull market, driven by declining dollar credit, suggesting strategic allocation value in precious metals [7][15]. - The performance of gold stocks relative to gold prices may indicate potential market peaks, as historical trends show that stock prices often peak before commodity prices [15].

Core Viewpoint - Leju Robotics, a leading player in humanoid robotics, has completed nearly 1.5 billion yuan in Pre-IPO financing, aiming to enhance technology development and expand its industrial applications [1][4]. Company Overview - Founded in 2016, Leju Robotics is among the earliest companies in China to focus on humanoid robots, with a core team from Harbin Institute of Technology [4]. - The company has launched several humanoid robot products, including Kuavo, Aelos, and Roban, which are utilized in industrial manufacturing, commercial services, and educational research [4]. Financing Details - The recent financing round attracted numerous investors, including Shenzhen Investment Control Capital and Dongfang Precision [1]. - Following the announcement, shares of associated companies like Dongfang Precision and Top Group saw increases of 2.18% and 1.54%, respectively [1]. Technology Development - Leju plans to explore the integration of Model-Based and Reinforcement Learning algorithms for its "small brain" control system and develop a "big brain" model that meets industry needs [5]. - The company aims to enhance its core technology and achieve large-scale production of humanoid robots [4]. Industrial Chain and Collaborations - Leju has invested in several upstream and downstream companies, including those specializing in integrated joints and motors [6]. - The company collaborates with notable firms such as Huawei and Tencent to explore extensive industrial applications [6]. Market Position and Future Plans - Leju has transitioned to a joint-stock company and is advancing its IPO plans, competing with Yushu Technology for market entry [7]. - The company is recognized as an important partner in Huawei's ecosystem, having launched the first humanoid robot based on Huawei's HarmonyOS [6].

10月22日，深圳市地方金融管理局等多部门发布关于印发《深圳市推动并购重组高质量发展行 动方案（2025—2027年）》的通知。 SFC 来源丨深圳市地方金融管理局网站 编辑丨曾静娇 见习编辑张嘉钰 存款利率"倒挂"频现，存5年不如存3年 月内规模已超45亿元，有消金机构0.3折拍卖19.74亿元不良信贷包 靠奥特曼 小马宝莉年入8亿 毛利超3成 零食界泡泡玛特冲刺港股 21君荐读 靠奥特曼、小马宝莉年入8亿，毛利超3成，零食界泡泡玛特冲刺港股 其中提出， 力争到2027年底，辖区上市公司质量全面提升，境内外上市公司总市值突破20万 亿元，培育形成千亿级市值企业20家。 并购重组市场量质齐升，累计完成并购项目超200单、 交易总额超1000亿元，落地一批行业示范案例。加快打造并购基金矩阵，培育集聚优秀并购基 金管理人，带动社会资本形成万亿级"20+8"产业基金群，带动重点产业链协同并购，构建完备 产业链并购生态圈。 其中还提出， 鼓励社会资本参与并购重组。 支持企业风险投资（CVC）围绕产业链关键环 节、基于提升技术优势开展并购重组。推动私募股权基金通过直接投资、并购基金、资产证券 化等方式参与并购整合，落实 ...