Core Viewpoint - The founder of Xibei, Jia Guolong, has announced a strong intention to sue Luo Yonghao, citing significant harm caused by Luo's actions following a recent incident involving "pre-made dishes" [2][4]. Group 1: Legal Action - Jia Guolong emphasized his determination to proceed with legal action against Luo Yonghao, stating "we will definitely sue him" multiple times to underline his commitment [2]. - The lawsuit is a response to perceived damage caused by Luo's public comments, which Jia believes have exceeded acceptable consumer behavior [4]. Group 2: Consumer Behavior - Jia differentiated between Luo's role as a consumer and his actions as a public figure, arguing that Luo's behavior has crossed the line of normal consumer feedback [4]. - He highlighted that Xibei has a robust feedback and compensation mechanism for dissatisfied customers, which Luo did not utilize before making his comments [4]. Group 3: Ongoing Impact - Jia noted that Luo's continuous posts on social media are exacerbating the situation, indicating that the issue is still developing and causing ongoing harm to the brand [4].

Core Viewpoint - The company, Jinshiyuan, has experienced a significant slowdown in revenue and profit growth, marking a departure from its previous trajectory as a "dark horse" in the liquor industry, with expectations for a decline in overall performance in 2025 [4][21]. Revenue and Profit Performance - In the first half of 2025, Jinshiyuan reported revenue of 6.95 billion yuan, a year-on-year decrease of 4.8%, and a net profit of 2.23 billion yuan, down 9.5% [4][5]. - The second quarter saw a sharp decline, with revenue of 1.85 billion yuan, a 29.7% drop year-on-year, and a net profit of 590 million yuan, down 37.1% [4][5]. - This marks only the second instance of mid-year revenue and profit decline since 2015, excluding 2020, with forecasts indicating a potential annual decline for the first time in a decade [4][7]. Product Performance - The high-end product segment is under pressure, with the premium category (特A+类) experiencing a revenue drop of 7.37% in the first half of 2025 [10]. - The product structure shows a heavy reliance on high-end offerings, with 62% of revenue coming from the premium category, which has been adversely affected by recent policy changes [10][11]. Market Expansion - Jinshiyuan's revenue is heavily concentrated in Jiangsu province, accounting for approximately 90% of total revenue, with a slight increase in revenue from outside the province [11][12]. - The company is focusing on expanding its presence in surrounding markets, particularly in the Yangtze River Delta region, while facing challenges in the provincial market [13][14]. Financial Indicators - The company set an ambitious revenue target of 15 billion yuan by 2025 but has adjusted its expectations due to market conditions, now aiming for a growth rate of 5%-12% [15][16]. - Key financial metrics indicate pressure, with a significant reduction in contract liabilities and an increase in inventory turnover days, suggesting sales difficulties [17]. Strategic Responses - In response to market challenges, Jinshiyuan plans to adjust its marketing strategies, increase promotional efforts, and potentially introduce lower-alcohol products to meet changing consumer preferences [19][20]. - The company aims to balance its product structure and enhance its market presence while navigating the current industry adjustment period [21].

Core Viewpoint - The article discusses a three-month special rectification action initiated by six government departments in China to address online chaos in the automotive industry, focusing on illegal profit-making, exaggerated and false advertising, and malicious attacks against companies [2][3][4]. Group 1: Illegal Profit-Making Issues - The action targets illegal profit-making through the creation of false images and videos, fabricating stories, and spreading negative topics about automotive companies to gain online traffic and commercial benefits [2][3]. - It also addresses the misuse of influence under the guise of "news supervision" to extort automotive companies for "protection fees" and the use of new technologies to create fake online content [3]. Group 2: Exaggerated and False Advertising - The initiative aims to combat misleading advertising regarding the performance, functionality, quality, and sales status of vehicles and batteries, which deceives consumers [3]. - It includes the manipulation of evaluation accounts to produce false or irregular assessments and the selective disclosure of sales data to mislead the public [3]. Group 3: Malicious Attacks - The rectification action seeks to eliminate malicious attacks aimed at discrediting competitors, including orchestrated campaigns to spread false information and incite public sentiment against rival companies [3][4]. - It highlights the role of executives in leveraging their influence to engage in online disputes that harm the reputation of competing firms [3]. Group 4: Implementation and Coordination - The notification emphasizes the need for self-inspection by automotive companies and the establishment of reporting channels to address online chaos effectively [4]. - It calls for collaboration among various government departments and the automotive industry to create a cleaner online environment and prevent the spread of false information [4].

一是非法牟利问题。例如，通过制作虚假图片、视频，捏造故事，炒作和散布涉车企负面话 题，恶意解读汽车企业销量波动，攻击汽车企业经营发展战略等，赚取网络流量，获取商业利 益等。 二是夸大和虚假宣传问题。例如，对汽车、动力电池的性能、功能、质量、销售状况等作虚假 或者引人误解的宣传，欺骗误导消费者等。 三是恶意诋毁攻击问题。例如，以遏制、打压竞争对手为目的，诋毁攻击汽车企业或者汽车产 品，抹黑企业声誉或者商品声誉，对企业进行恶意投诉等。 通知强调，要通过组织企业自查、畅通举报渠道、深入分析研判，根据有关问题线索，强化汽 车行业网络乱象处置力度。建立快速处置渠道，依法依约关闭并公开曝光一批参与汽车行业网 络乱象的媒体账号。深挖网络乱象背后的公关公司、营销公司等代理方团队及购买其服务的汽 车企业，依法打击惩治。 通知要求，各地工业和信息化、社会工作、网信、发展改革、公安、市场监管等部门要加强组 织领导和协调联动。网络平台企业要深入开展自查自纠，加强对采用生成式人工智能技术等的 网络水军、"黑嘴"的甄别管控，健全平台涉企侵权信息投诉举报、争议标签、一键关联辟谣内 容等产品功能，防止虚假信息误导公众。行业协会要引导行业加强 ...

AI配图。 公募基金2025中期答卷：震荡市场周期的突围样本 2025年A股市场显著走强，上证指数更是刷新近十年新高 。 随着股市的持续上涨，权益类基金 受益匪浅。中基协的最新数据显示，截至今年 7月末，公募基金管理规模首次突破35万亿元大 关。 纵观上半年公募基金公司业绩表现，净利润规模在 2亿元以上的基金公司共有19家，其中，净 利润增速超过40%的仅有广发基金、中欧基金、兴业基金。 在 今年股市上涨 行情中，一批 出色的 基金经理 为市场提供了 "多元适配" 的投资解法，偏好 短期收益的投资者可追随科技、医药赛道的产业红利，追求稳健的投资者能依托价值策略把握 低估机遇，擅长周期布局的投资者也能找到资源品领域的轮动机会。 其中， 汇添富 的 马翔、 张韡，中欧的蓝小康、冯炉丹， 易方达 的 祁禾、嘉实 的 王贵重、大 成 的 韩创等 在今年均表现不俗 ，在 2025 年结构性行情中展现出强大投研实力。 今年 8月，算力板块强势发力，科创50指数大涨推动沪指站上 3800 点。截至9月2日，马翔管理 的汇添富科技创新混合精准把握 AI 机遇，任职回报超240%；蓝小康以 136亿元在管规模，凭 借中欧红利优 ...

资料图。本文来源：三言Pro 人走茶凉？王腾刚被辞退，母校就撤掉校友资料页 面 9月8日， 小米发布内部公告：中国区市场部员工王腾，泄露公司机密信息，且存在利益冲突等 严重违规违纪行为。根据《小米集团员工违规违纪行为处理办法》《小米集团诚信廉洁守则》 等制度规定，公司决定给予王腾辞退的处分。 此事随即引发大量关注。 对此，王腾回应称，自己没有窃取公司机密出售，没有收人钱财。有失职行为，在深刻反省 中，但没有做违法行为。 华科大的此次操作，本质上是名校与明星校友之间一种"荣誉共生"关系。 校友的成就是高校教育质量的活体广告，而名校的光环也为校友的职业生涯持续赋能。这种互 惠互利的关系，在风平浪静时坚不可摧。然而，一旦一方，尤其是校友方出现"失范"行为，这 种共生体就会变得异常脆弱。高校的第一反应往往是保护机构声誉，进行"风险隔离"。 | | 華中科技大學 生命科学与技术学院 College of Life Science and Technology, HUST | | 字校主页 | ENGLISH | 访问旧版 | O | | | --- | --- | --- | --- | --- | --- | --- ...

资料图。 " 马拉松长谈 " 是因为罗永浩太松了 徐爱之 " 罗永浩的十字路口 " 是一档罗永浩主持的访谈视频播客。截至目前，已上线三期。第一期嘉 宾是理想汽车 CEO 李想，这一期对外宣传的噱头，是： " 四小时马拉松长谈 " 。尽管节目对外 宣传冠以 " 访谈马拉松 "" 四小时谈长谈 " ，其实罗永浩挤一挤水分，就不会有这么冗长了。 以李想这期播客为例，聊一下罗永浩访谈中存在的问题。并非刻意挑刺而是觉得如果规避这 些，老罗的节目一定会做得更好。 01. 喜欢打断嘉宾的话头和思路 罗永浩在整个对谈中，时常打断李想的讲述。此类的打断在整个访谈中非常多。 打断有几种情况，有一种是发问，追问是有必要的但罗永浩面对的是一个非常善于讲话，发表 见解并且有自己闭环逻辑的嘉宾。所以当有些时候罗永浩追问，李想说的是： " 我在接着讲 " 或者是你听我讲完这种情形。还有一种打断是插话，表示认同或者迎合，譬如李想： "MEGA 的用户其实开过很多好的车了 ……" 罗永浩： " 其实越是开过好的车，越知道这车有多好 " 。 还有一种情况的打断是 " 补充 " ，譬如李想在汽车之家上市时谈到当时约定 " 95% 的股东同意 才能 ...

Core Viewpoint - The chairman of Tonghuashun, a stock trading software company, has recently reduced his holdings, claiming it is to "let go of market participation opportunities," which has sparked controversy among investors [2][3]. Summary by Sections Share Reduction Announcement - On September 6, Tonghuashun (300033.SZ) announced that its controlling shareholder and chairman, Yi Zheng, along with other significant shareholders, plan to reduce their holdings by up to 138.31 million shares, accounting for 0.26% of the total share capital. Based on the closing price of 361.5 yuan per share on September 5, this reduction is valued at approximately 5 billion yuan, with Yi Zheng personally reducing 684,000 shares for about 247 million yuan [2][4]. Purpose of the Reduction - The announcement states that Yi Zheng's goal of increasing his holdings has been successfully achieved, and the current reduction is a fulfillment of this objective. The reduction aims to optimize personal resource allocation and focus more on the company's strategic layout and main business development, thereby enhancing the company's value and rewarding shareholders [3][4]. Investor Reactions - Some investors have questioned the rationale behind the "letting go of opportunities" statement, suggesting that the reduction is merely a high-level cash-out, with some humorously referring to it as a "high-level invitation for others to take over" [4]. Historical Context - This is not Yi Zheng's first significant cash-out. In a previous announcement on March 28, 2023, the company indicated that Yi Zheng and other executives planned to collectively reduce their holdings by up to 45.5 million shares, representing 8.46% of the total share capital, with a total intended cash-out of nearly 9 billion yuan at that time [8]. Shareholding Structure - After the reduction, Yi Zheng's shareholding will remain at 36%, and there will be no significant change in control. Yi Zheng is the largest shareholder of Zhejiang Huxin Tonghuashun Network Information Co., Ltd., which was established in August 2001 and has a registered capital of approximately 540 million yuan [5].

Core Viewpoint - Deep Blue Automotive is undergoing significant leadership changes with Jiang Hairong appointed as CEO and Deng Chenghao elevated to Chairman, signaling a strategic focus on the integration of new energy and technology [2]. Group 1: Leadership Changes - Jiang Hairong, previously the Chief Marketing Officer for Honor in China, has joined Deep Blue Automotive as CEO, bringing extensive experience in global market branding and ICT product development [2][3]. - Deng Chenghao, the former CEO of Deep Blue Automotive, has been promoted to Chairman after serving in various leadership roles within Changan Automobile and Deep Blue Automotive [2]. Group 2: Strategic Focus - Deep Blue Automotive is committed to rapid and high-quality development in electrification and intelligence, reflecting its ambition in the new energy sector [2]. - The appointment of Jiang Hairong is seen as a strategic move to enhance the company's capabilities in the integration of new energy and technology [2].

Core Viewpoint - Yanghe Co. reported its worst interim performance since its listing, with revenue down 35.32% year-on-year and net profit down 45.34% [2][3][10] Financial Performance - In the first half of the year, Yanghe achieved revenue of 14.796 billion yuan, a decrease of 35.32% year-on-year, and a net profit of 4.344 billion yuan, down 45.34% [3][10] - The second quarter saw revenue drop 43.7% to 3.729 billion yuan and net profit decline 62.7% to 707 million yuan [3][10] - This marks the third occurrence of simultaneous revenue and profit decline since 2009, with the current declines being the largest in 16 years [3][10] Market Performance - Yanghe's stock price has fallen 5.69% year-to-date, contrasting with a 14.96% increase in the CSI 300 index [4][15] - Institutional holdings decreased by 3.14 percentage points by the end of the second quarter compared to the beginning of the year [4] Product and Channel Analysis - Revenue from high-end liquor (≥100 yuan/500ml) fell 36.5% to 12.672 billion yuan, while ordinary liquor (<100 yuan/500ml) revenue decreased 27.2% to 1.841 billion yuan [6] - The traditional wholesale distribution channel generated 14.292 billion yuan, down 35.78%, continuing a downward trend from the previous year [6] - Online direct sales revenue was 221 million yuan, a slight decline of 6.91%, attributed to increased promotional efforts on platforms like Tmall and JD [7] Regional Performance - Revenue in Jiangsu province, Yanghe's main market, decreased 25.79% to 7.121 billion yuan, while revenue from outside Jiangsu fell 42.68% to 7.392 billion yuan [7] - The company has faced increased competition from rivals like Jinshiyuan, impacting its market share in Jiangsu [7] Operational Challenges - Yanghe's management acknowledged four core issues: insufficient brand renewal, reduced channel profit margins, high channel inventory, and slow marketing transformation [11][12] - The overall gross margin for the first half of 2025 was 75.94%, a slight decrease of 0.13% year-on-year, indicating ongoing profitability pressure [13] Inventory and Cash Flow - As of June, Yanghe's inventory was valued at 19.103 billion yuan, accounting for 31.14% of total assets, an increase from 29.30% at the end of the previous year [13] - The net cash flow from operating activities was only 616 million yuan, a decline of 69.85% year-on-year, reflecting weakened cash generation capabilities [13] Management Transition - The resignation of former chairman Zhang Liandong coincided with the release of the poor interim report, marking a challenging end to his tenure [4][16] - New chairman Gu Yu has emphasized quality as a core strategy and aims to address the brand's market perception and operational challenges [17][18] Strategic Outlook - Yanghe is focusing on expanding its low-alcohol product line to adapt to market trends, although this segment is highly competitive [19] - The company aims to enhance its brand value and operational efficiency through improved marketing strategies and product innovation [17][19]