来源：棱镜 文： 温世君 编辑： 孙春芳 以下文章来源于棱镜 ，作者温世君 棱镜 . 腾讯新闻出品栏目，《棱镜》聚焦泛财经深度记录。 他们一直在赚时代的钱。 "我是养鸡养猪的。马云和虞锋，他们是会下金蛋的鸡。"15年前，在云锋基金成立酒会上，前 中国首富、新希望集团创始人刘永好如此评价两位创始人。 作为曾经的亚洲首富，马云的庞大产业版图里，云锋系这块资产，是待遇特殊的"自留地"。马 云和虞锋将各自的名字嵌入，以个人名义共同出资，这便是"云锋"诞生的故事。 云锋基金的PE（私募股权）业务起步，到如今形成以港股上市公司云锋金融（0376.HK）为 主要实体资产的云锋系——实际操盘人的虞锋，更被公开称为"马云的神队友"。 最近 云锋 系 又 活跃 起来 了 ， 比如 " 退休 " 多年 的 前 复星 国际 二 把手 梁信军 ， 刚 刚 加入 了 云 锋 金融 董事会 ， 再 比如 去年 卸任 蒙牛 总裁 的 卢敏放 ， 低调 成为 云锋 基金 合伙人 ， 又 比如 拿下了数字货币交易牌照。 9月9日，云锋金融 在 港交所 发布 公告 ： 旗下云锋证券 于 前 一 日 获香港证监会批准， 其 持有 证券一号牌照 ， ...

Core Insights - Entrepreneurship is a collective effort, requiring a broad vision and an open mindset from founders [1] - Successful teams should consist of individuals who can inspire others and those who are goal-oriented, proactive, and decisive [1] Group 1: Event and Activities - A learning event led by Wu Shichun is scheduled from September 21 to 23, focusing on exploring innovative growth engines in Sichuan [3][10] - Participants will engage in deep discussions with industry leaders and investors, enhancing their understanding of capital trends and industry dynamics [12][13] - The event includes immersive learning experiences, covering topics from technological innovation to commercialization strategies [13][28] Group 2: Investment Opportunities - Wu Shichun anticipates investing no less than 1.5 billion in quality projects in the second half of the year [6] - The event aims to connect entrepreneurs with potential investors, fostering collaboration and problem-solving in real-time [13][28] - The focus will be on sectors such as satellite communication, smart manufacturing, and hard technology, which are seen as key growth areas [24][27] Group 3: Featured Speakers and Mentors - Wu Shichun, a prominent angel investor and founder of Meihua Venture Capital, has managed over 10 billion in funds and invested in over 600 companies [15] - 彭媛媛, founder of Xingyi Lianxin, will discuss satellite manufacturing and commercialization, highlighting advancements in the satellite internet sector [19][28] Group 4: Target Audience - The event targets entrepreneurs and companies in various sectors, including robotics, smart manufacturing, low-altitude economy, and satellite communication [24][27] - Participants will benefit from networking opportunities with 100 elite entrepreneurs, facilitating knowledge exchange and collaboration [13][28]

Core Viewpoint - The article emphasizes the importance of addressing customer pain points in business, suggesting that entrepreneurs should base their business models on genuine customer needs and ensure that solutions do not create new pain points while targeting sufficiently large markets [1]. Group 1: Event Overview - The article promotes an upcoming offline learning event led by Wu Shichun, aimed at exploring innovation in lower-tier markets and seeking new growth engines [2][5]. - The event is scheduled for September 21-23, 2025, in Luzhou, Sichuan, and will involve 100 entrepreneurs [2][8]. Group 2: Learning Outcomes - Participants will engage in a deep-linking journey with industry leaders and investors, enhancing their understanding of the industry ecosystem [11]. - The event will provide immersive learning experiences, covering topics from technological innovation to commercialization strategies [11]. - Attendees will gain insights into capital trends and strategies for occupying high points in the industry [11]. Group 3: Target Audience - The event targets various sectors, including robotics, smart manufacturing, low-altitude economy, satellite communication, and technology-driven consumer goods [24][25][26][27]. Group 4: Notable Mentors - Wu Shichun, a well-known angel investor and founder of Meihua Venture Capital, will lead the event, having managed over 10 billion in funds and invested in over 600 companies [13]. - The event will also feature other industry experts, including founders of successful startups in the satellite communication sector [17]. Group 5: Event Schedule Highlights - The schedule includes networking sessions, cultural exploration, and discussions on entrepreneurship and innovation [19][20][21][23][28]. - Specific activities include a welcome dinner, group tasks, and a peak dialogue with Wu Shichun [22][28].

Core Viewpoint - The article discusses three major market opportunities in China over the next 5-10 years, highlighting the potential of the aging population, pet ownership, and the chain retail industry as significant areas for investment and growth [3][4][5][6][7]. Group 1: Market Opportunities - The aging population presents a significant market opportunity, with 20 million new retirees each year who have disposable income and time to spend, contributing to the silver economy [5]. - Pet ownership is on the rise, with households treating pets as family members, leading to substantial monthly expenditures on pet care [6]. - The chain retail industry in China is still underdeveloped compared to countries like the US, Japan, and Hong Kong, indicating a large potential for growth in this sector [7][8]. Group 2: Event Promotion - An immersive course titled "Black Horse Consumption Rise" will take place from October 17-19 in Shenzhen, featuring industry leaders who will share insights on product innovation and brand expansion in the current market landscape [10][11]. - The course aims to dissect how Japanese and Chinese consumer companies succeed in the current market, focusing on product innovation and the integration of technology with consumer needs [15][16]. Group 3: Insights from Industry Leaders - The article emphasizes the importance of transforming technology into user-perceived value, as demonstrated by successful Japanese companies like Sony and Uniqlo, which focus on understanding consumer needs rather than just technological specifications [15]. - AI is reshaping consumer products, and future market leaders will be those who can effectively merge demand with algorithmic solutions [15][18]. - The course will feature discussions on how to navigate the challenges of market saturation and competition, particularly in the context of AI-driven consumer products [18][19].

Core Viewpoint - Liu Qiangdong is actively pursuing international expansion through significant acquisitions, including logistics assets in Singapore and consumer electronics retailers in Europe and Hong Kong, totaling approximately 200 billion yuan [5][12][13]. Group 1: Recent Acquisitions - Liu Qiangdong's recent acquisition of logistics assets in Singapore involves a transaction price of 306 million SGD, approximately 1.7 billion yuan [5]. - The logistics assets include properties located in key industrial areas of Singapore, with a total building area of about 186,346 square meters and an average remaining land lease of 27 years [22]. - The largest asset in the acquisition is a logistics hub on Pandan Avenue, valued at 14 million SGD, accounting for half of the total transaction price [19]. Group 2: Strategic Partnerships - The acquisition is a collaborative effort with Swiss investment firm UBS and Eza Hill, which is backed by Hillhouse Capital [24][25]. - Eza Hill has been actively acquiring logistics assets in Southeast Asia, including a recent purchase of logistics properties in Jakarta valued at 148 million USD [29]. - The partnership aims to establish a REIT with a target scale exceeding 1 billion USD, marking a significant move in the Singapore REIT market [33]. Group 3: International Expansion Strategy - Liu Qiangdong emphasizes internationalization as a key direction for JD's future, with over 2,000 employees and logistics networks covering 19 countries [16]. - Successful acquisitions in Europe and Hong Kong will serve as strategic footholds for JD's internationalization efforts [17]. - The logistics sector is identified as a critical area for JD's future growth, with plans to enhance supply chain capabilities globally [18][39]. Group 4: Supply Chain Development - Liu Qiangdong's logistics investments are seen as foundational to his business empire, with four out of six listed companies under his control related to logistics [41]. - Recent investments include a 50 billion yuan logistics infrastructure fund targeting key urban areas in China [36]. - The goal is to achieve over 100% growth in global self-operated overseas warehouse space by the end of 2025 [39].

Core Viewpoint - Anke Zhiliang, a subsidiary of Midea Group, is preparing for an IPO on the Hong Kong Stock Exchange, marking a significant expansion in Midea's business landscape and potentially benefiting its controlling shareholder, He Xiangjian [4][5]. Group 1 - Anke Zhiliang is recognized as the leading integrated supply chain logistics solution provider in China, particularly in the home appliance sector, with projected revenues of 18.663 billion yuan in 2024 [4][12]. - The company has demonstrated strong financial growth, with a compound annual growth rate (CAGR) of 14.8% in revenue from 2022 to 2024 and a remarkable 33% CAGR in net profit during the same period [13]. - Anke Zhiliang's business model includes a comprehensive logistics solution covering nine core application scenarios, positioning it as a "supply chain steward" for enterprises [4][14]. Group 2 - The decision to list Anke Zhiliang on the Hong Kong Stock Exchange follows a previous plan to list on the Shenzhen Stock Exchange, indicating a strategic shift to enhance valuation and market positioning [12][11]. - Midea Group retains a controlling stake of 52.94% in Anke Zhiliang, ensuring continued influence over its operations post-IPO [12][13]. - The IPO is expected to unlock the valuation potential of Midea's logistics segment, which has been overshadowed by its core home appliance business [14]. Group 3 - Midea Group has a rich history of transformation, evolving from a small workshop to a global technology group with over 400 billion yuan in revenue in 2024, showcasing its resilience and adaptability in the market [20]. - The founder, He Xiangjian, has played a pivotal role in Midea's growth, leading the company through various strategic reforms and expansions since its inception in 1968 [16][19]. - If Anke Zhiliang successfully completes its IPO, it will represent the tenth IPO for He Xiangjian's family, further solidifying their influence in the investment landscape [29].

Core Viewpoint - The article emphasizes the importance of elevating one's perspective to solve business challenges, suggesting that entrepreneurs should seek higher-level insights and connections to overcome development bottlenecks [3][10][11]. Group 1 - Sales issues should be addressed at the product level, while product issues require a focus on design, and design issues necessitate a consideration of aesthetics [4][5][6]. - Aesthetic problems can be resolved by enhancing one's knowledge structure, indicating that solutions often lie beyond the immediate level of the problem [7]. - The article draws parallels between different fields, stating that philosophy can address historical issues, which in turn can resolve issues in thought, execution, and desired outcomes [8]. Group 2 - Entrepreneurs are encouraged to connect with individuals who possess higher levels of understanding and thinking to facilitate problem-solving [10]. - Building networks and connections is highlighted as a crucial effort for entrepreneurs, as these links can provide significant value [12][13]. - Learning from successful peers and engaging in deliberate practice are recommended strategies for entrepreneurs facing challenges [14]. Group 3 - The article mentions an upcoming event where 100 entrepreneurs will explore innovation and growth opportunities in Sichuan, emphasizing the importance of collaboration and learning from industry leaders [14][20]. - The event will feature deep engagement with key industry players and focus on various sectors, including robotics, smart manufacturing, and satellite communications [21][22][36]. - The investment firm plans to allocate at least 1.5 billion in funding for quality projects in the upcoming period, indicating a robust investment strategy [16][18].

Core Viewpoint - The article emphasizes the importance of fundraising as a lifelong skill for entrepreneurs, highlighting that founders should not neglect this responsibility in favor of focusing solely on their core business operations [1]. Group 1: Fundraising Insights - Founders must develop their fundraising abilities, starting from early angel investments to venture capital (VC) and private equity (PE), and eventually to secondary market financing [1]. - The article stresses that neglecting fundraising skills is irresponsible and a failure of the founder's primary duties [1]. Group 2: Investment Plans - The author, Wu Shichun, anticipates investing no less than 1.5 billion in the second half of the year [4]. - The article encourages high-quality projects to seek investment from Wu Shichun [3]. Group 3: Event Details - An upcoming offline learning event led by Wu Shichun will take place from September 21 to 23, focusing on exploring innovation and growth engines in Sichuan [1][6]. - The event will feature deep interactions with industry leaders and investors, aiming to enhance participants' understanding of capital trends and industry dynamics [8]. Group 4: Target Industries - The event will cover various sectors, including robotics, smart manufacturing, low-altitude economy, and satellite communications, indicating a focus on high-tech and innovative industries [17][18][20][21]. Group 5: Notable Participants - The event will include notable figures such as the founder and CEO of Xingyi Lianxin, who has extensive experience in the commercial aerospace sector and has successfully launched a satellite [12]. - The article mentions that the founder has completed five rounds of financing, with investments from various notable firms [13].

Core Viewpoint - Uniqlo, founded by Tadashi Yanai, has become a remarkable success story in Japan's retail industry, thriving even during economic downturns and achieving significant growth in the Chinese market [3][4][7]. Group 1: Company Background - Uniqlo is recognized as the most successful company in Japan over the past 30 years, with its founder, Tadashi Yanai, becoming Japan's richest person multiple times [3][7]. - The company was established in 1984 during Japan's economic collapse, aligning its brand positioning with the consumer trend towards minimalism and cost-effectiveness [7]. Group 2: Market Performance - As of 2023, Uniqlo operates over 900 stores in China, expanding at a rate of 80 to 100 new stores annually, with the Greater China region contributing 40% to its global revenue [8]. Group 3: Competitive Advantages - High cost-performance ratio: In a trend of consumer downgrading, Uniqlo's products are increasingly valued for their affordability and quality [9]. - Versatile basic styles: The brand focuses on easy-to-wear clothing that appeals to a wide audience, from high-income urban dwellers to budget-conscious consumers [10][11]. - Effective marketing of hit products: Uniqlo excels at creating popular items that enhance brand visibility and drive sales across its product range [12]. Group 4: Product Development Strategy - Uniqlo's success in launching hit products is attributed to the collaborative involvement of various departments in product planning, with store managers having significant input on customer feedback and product improvements [16].

Core Viewpoint - Before scaling a business, it is essential to consider four key questions: Do you have the capability to scale? Can you manage the business after it scales? Is it necessary to scale? Do you have good luck? Entrepreneurs should accumulate small victories to achieve larger successes [1] Group 1: Event Overview - The event led by Wu Shichun will take place from September 21 to 23, focusing on exploring innovative growth engines in Sichuan Luzhou [3][9] - Participants will engage in a deep immersive learning experience, covering topics from technological innovation to commercialization [11] - The event aims to connect entrepreneurs with investors and industry leaders, facilitating collaboration and problem-solving [11][19] Group 2: Investment Insights - Wu Shichun is expected to invest no less than 1.5 billion in the second half of the year [6] - The event will feature discussions on various sectors, including robotics, smart manufacturing, low-altitude economy, and satellite communication [22][23][24] - The investment focus will be on capital-hungry sectors that are gaining traction in the market [11][28] Group 3: Participation Details - The event costs 12,800 yuan per person for early bird registration, including accommodation and meals [25] - Participants will have opportunities for one-on-one mentorship and project presentations [19][20] - The agenda includes networking sessions, expert lectures, and case studies relevant to the current market landscape [18][19]