以下文章来源于略大参考 ，作者杨知潮 略大参考 . 作者 丨 杨知潮 图源 丨Midjourney 搜狗输入法的主要收入来源是谁？ 答案当然是腾讯。在互联网的世界里，有许多公司的大部分价值都来自他们对互联网巨头的战略意 义。比如共享单车的收入能力有限，但他们却是滴滴、蚂蚁、美团整个生态的重要一环——引流怎么 不算一种价值呢？ 新消费 · 新科技 · 新生活 来源 丨略大参考（ID：hyzibenlun） 眼下，以茶饮和咖啡为代表的现制饮品也成为了一个类似共享单车的存在。 由于其极好的促销效果和对其他品类的引流作用，茶饮和咖啡成为了淘宝闪购和京东秒送对外卖市场 争夺的主战场。淘宝闪购公布的茶饮订单占比高达25%，远超10%-15%的大盘占比。京东方面，甚 至有媒体披露 ，称京东外卖超过50%的订单为咖啡茶饮订单。 大量现金补贴随之被注入这一品类，成为了茶饮品牌的收入。 虽然茶饮的盈利能力远超共享单车，但淘宝和京东动辄"1.9元一杯"的补贴幅度，终究是远超过了品 牌自己的财力。强大的外部力量干扰，让这场围绕品牌、选址、供应链的精细化运营，逐渐演变为了 一场"抱大腿"的简单游戏。 这当然能够给茶饮品牌和咖啡品牌带来 ...

Group 1 - FAW-Volkswagen will launch four new energy models based on a new platform in Changchun, with production planned to start after 2027 [1] - Jaguar Land Rover is recalling over 20,000 vehicles in North America due to passenger airbag rupture issues, which may increase injury risks in collisions [2] - By 2025, China's new energy vehicle sector is expected to face a talent gap exceeding one million, with a supply-demand ratio for intelligent driving engineers at only 0.38 [3] Group 2 - GAC Trumpchi M6 MAX luxury MPV has been officially launched with a starting price of 109,900 yuan, featuring a 1.5TG engine with a maximum power of 130 kW and a combined fuel consumption of 7.22L per 100 km [4]

Core Viewpoint - The article highlights significant developments in the global expansion of various companies, focusing on their strategies, market entries, and financial activities in the international arena [2]. Group 1: Major Events in Global Expansion - SHEIN has submitted a draft prospectus for an IPO to the Hong Kong Stock Exchange, shifting focus from London after prolonged efforts to list there [5]. - Temu plans to enter the European food market, establishing local teams in Germany and expanding to Switzerland and Austria, aiming for 80% of sales to come from local sellers using regional warehouses [7]. - TikTok denied reports of developing a U.S.-specific app and refuted claims regarding the sale of its U.S. operations to Oracle [10][12]. - JD Global Sales launched a semi-managed model targeting nine countries, including the U.S. and the U.K., to enhance its overseas operations [18][19]. - The tea brand Cha Yan Yue Se is entering the North American market, focusing on selling snacks and tea-related products rather than tea itself due to regulatory challenges [21]. - Alibaba's Amap launched a multilingual map service for overseas users, adding 14 languages to cater to the growing number of foreign tourists visiting China [23]. Group 2: International Trade and Tariffs - President Trump announced plans to impose tariffs of up to 50% on products from eight countries, including Brazil and the Philippines, starting August 1, 2025 [29][30]. - The U.S. government is considering new tariffs on pharmaceuticals and semiconductors, potentially reaching 200% for foreign-made drugs [30]. Group 3: Corporate Acquisitions and Investments - Rakuten announced a $500 million acquisition of the Asian B2B e-commerce platform B2B Trade, aiming to strengthen its position in the Asian market [46]. - Samsung Electronics signed an agreement to acquire the U.S. healthcare platform Xealth, marking a strategic move into mobile healthcare services [50]. - Indian e-commerce platform Meesho submitted an IPO application to raise approximately $5 million, with a revenue growth of 33% year-on-year [51]. - Bazaar Technologies acquired payment platform Keenu, marking a significant integration of e-commerce and payment systems in Pakistan [43]. - Jumbotail, an Indian B2B e-commerce platform, raised $120 million in a Series D funding round, bringing its total funding to $263 million [53].

Core Viewpoint - The article highlights the rise of the潮玩 (trendy toy) industry in Shipaizhen, Dongguan, emphasizing the shift from being mere OEM factories for brands like Pop Mart to developing original IPs, reflecting a broader trend in the toy manufacturing sector in China [3][4][15]. Group 1: Industry Overview - Shipaizhen is a significant hub for潮玩 production, with over 400 toy manufacturers and a total output value of 132.2 billion yuan in 2024, marking a 12.3% year-on-year increase [3][4]. - Dongguan, known as the "world's factory," produces 1/4 of global anime derivatives, with Shipaizhen accounting for 50% of潮玩 products in Dongguan [9][10]. - The潮玩 industry in Shipaizhen has evolved from a focus on OEM production to a growing emphasis on original IP development, with the number of original IPs increasing from over 30 in 2021 to over 100 in 2024 [20][24]. Group 2: Company Dynamics - Many toy factory owners in Shipaizhen aspire to create their own original IPs, moving away from low-margin OEM work, which typically yields profits of only 3-10% [11][15]. - Pop Mart's collaboration with local factories has raised industry standards and introduced higher craftsmanship requirements, prompting factories to seek their own IPs for better profit margins [15][16]. - ToyCity, founded by a former OEM factory owner, has successfully developed around 20 original IPs, demonstrating the potential for local companies to transition from OEM to original content creation [18][19]. Group 3: Challenges and Opportunities - The transition to original IP development is fraught with challenges, including high costs and the need for effective marketing strategies, as many companies lack experience in market promotion [29][30]. - The investment required for IP development can be substantial, with companies often needing to cultivate a loyal fan base to ensure profitability [31][33]. - Despite the difficulties, the potential for success in the潮玩 market drives companies to explore various paths for IP development, including licensing and content creation [33][34].

Key Points - The article highlights significant AI news and investment events from July 5 to July 11, focusing on developments in the global AI market [1]. Domestic Major Events - Xie Jian, co-founder of Baichuan Intelligent, is leaving the company, with reasons and future plans currently undisclosed [1]. - BYD announced its capability for L4-level intelligent parking, promising full liability coverage for users in China [1]. - Kuaishou's Keling AI launched the Ketu 2.1 model, enhancing instruction-following capabilities and generating over 3.44 billion images and 1.68 billion videos [3]. - Zhi Yuan Robotics denied rumors of an IPO in Hong Kong, stating no clear plans for such a move [3]. - Zhi Yuan released the Lingxi X2-N humanoid robot, which can switch between wheeled and legged modes, demonstrating advanced mobility [3]. - Baidu initiated its 2026 campus recruitment, with over 90% of positions in AI [15]. International Major Events - Nvidia's stock reached a record high, with a market capitalization of $4 trillion, benefiting from optimism about its AI leadership [7][8]. - Grok 4 was officially released, with plans for integration into Tesla vehicles [28]. - Amazon is considering a multi-billion dollar investment in Anthropic, having already invested $8 billion [31]. - Microsoft announced significant layoffs and emphasized the need for employees to adopt AI tools to enhance productivity [32]. - Google launched the "Sol" submarine cable project to improve global digital infrastructure [32]. AI Investment Overview - A total of 14 AI financing events were disclosed globally, with a total funding amount of 5.962 billion RMB, averaging 459 million RMB per event [42]. - The majority of disclosed AI financing events were early-stage, with 10 out of 12 events falling into this category [44]. - The regions with the most AI investment activity included Beijing, Zhejiang, and Shanghai, with Beijing leading with 5 disclosed events [47]. Domestic AI Financing Events - The total disclosed financing amount in the domestic AI sector was 5.962 billion RMB, with the largest IPO being that of Jizhi Jia, raising 2.71162 billion HKD [51]. - Several companies received funding, including Xiaoyu Zhizao and SYCSENSE, with investments ranging from tens of millions to hundreds of millions RMB [55][56].

Core Viewpoint - The article discusses the paradox of county-level entrepreneurship, highlighting how county residents are drawn into the fast-food franchise model, often leading to financial losses and business failures, despite initial optimism and perceived opportunities [5][12][113]. Group 1: County-Level Consumption and Investment - County residents are often surprised by the high living standards of their peers, leading to feelings of inferiority, while also finding humor in the local adaptations of well-known brands [5][7]. - The presence of franchise stores in county towns reflects the investment habits of the middle class, who are eager to capitalize on perceived business opportunities [8][9]. - Despite the allure of entrepreneurship, many franchise ventures result in unexpected costs and lower-than-promised revenues, leading to significant financial strain on local entrepreneurs [10][11][12]. Group 2: The Franchise Model and Its Pitfalls - The fast-food franchise model is heavily marketed in lower-tier cities, creating a false sense of security for potential entrepreneurs [14][42]. - Many franchise businesses utilize familiar branding and marketing tactics to attract local investors, often leading to a cycle of financial loss [18][19][21]. - The initial excitement of opening a franchise can quickly turn into disappointment as many businesses fail shortly after launch, with some closing before they even recoup their setup costs [30][80]. Group 3: Characteristics of County Entrepreneurs - County entrepreneurs typically share common traits: financial stability, a desire for more than a stable job, and a willingness to invest disposable income into business ventures [35][36][38]. - Many entrepreneurs enter the franchise market believing in the feasibility of success without prior experience, often influenced by optimistic marketing claims [40][50][52]. - The allure of quick returns and minimal risk is a significant draw for county residents, despite the reality of high failure rates in the franchise sector [95][96][112]. Group 4: The Cycle of Hope and Disillusionment - The article illustrates a cycle where county residents repeatedly attempt entrepreneurship despite past failures, driven by a desire for financial freedom and self-fulfillment [104][114]. - Many entrepreneurs are caught in a cycle of optimism, believing that previous failures were due to poor project choices rather than systemic issues within the franchise model [101][102]. - The social dynamics in county towns create pressure to succeed in entrepreneurship, further entrenching individuals in the cycle of investment and loss [106][110][112].

Group 1 - The Tianzhou-9 cargo spacecraft and Long March 7 Yao-10 rocket have been transported to the launch area, with plans for a launch in the near future [1] - A new type of quantum entangled light source has been developed by a research team from Sun Yat-sen University, achieving a fidelity of 99.4% in a novel micro-nano quantum entangled light source [2] - The establishment of the Rulai Intelligent Robot R&D headquarters in Wuxi High-tech Zone marks a significant achievement in the region's intelligent manufacturing sector, with a total investment exceeding 1 billion yuan and a planned construction area of 55,000 square meters [2] Group 2 - VinFast, a Vietnamese electric vehicle manufacturer, has signed a strategic cooperation agreement with BatX Energies to develop a high-voltage battery recycling and reuse project, which is a key part of VinFast's localization supply chain strategy in India [2]

Group 1 - Google has agreed to pay approximately $2.4 billion to acquire technology licensing from AI coding startup Windsurf and has hired its CEO and some employees [1] - OpenAI's CEO announced a delay in the release of an open-weight model, citing the need for additional safety testing without a specific timeline [1] - Alibaba's Tongyi Qianwen launched an updated version of Qwen Chat, which now includes a desktop version and supports various functionalities such as in-depth research and image generation [1] Group 2 - David Gross, a Nobel laureate, discussed with Zhang Chaoyang that current AI lacks true creativity and is overestimated, primarily mimicking human responses without verification [1]

Group 1 - The article discusses a legal dispute involving Kelly Zong, the heir and chairman of Wahaha, who is being sued by three alleged half-siblings for control over a bank account containing assets related to a 15 billion RMB inheritance [1] - The plaintiffs claim to be the half-siblings of Kelly Zong, challenging the previous assumption that she was the only child of Zong Qinghou [1] - The lawsuit has brought to light family dynamics and potential implications for the management of Wahaha's assets [1] Group 2 - A report indicates that five core executives of Roma Technology have gone missing, allegedly fleeing to Malaysia amid product issues [3] - The company has faced significant consumer backlash, with 180,000 refund requests pending due to product problems [3] - Concerns have been raised about the quality of components sourced from suppliers, particularly regarding battery cells [3] Group 3 - Tesla's legal battle continues as a female car owner responds to a court ruling requiring her to apologize and pay damages, asserting that the case is not solely about product quality [3] - The ongoing legal disputes highlight the challenges faced by automotive companies in managing consumer perceptions and legal liabilities [3] Group 4 - Nvidia's CEO Jensen Huang has recently sold 225,000 shares of the company, valued at approximately $36.4 million, as part of a pre-established stock sale plan [12] - This sale comes amid heightened investor interest in Nvidia's leadership in the AI sector, which has significantly boosted its stock price [12] Group 5 - Volvo's CEO emphasizes the importance of adapting to the Chinese market to maintain competitiveness against new entrants in the electric vehicle sector [25] - The company aims to focus on local consumer preferences and collaborate with Chinese partners to enhance product offerings [25] Group 6 - Kraft Heinz is reportedly planning to split its operations after a decade of consolidation following its merger in 2015 [25] - The company is exploring various options for the split, although final decisions have yet to be made [25] Group 7 - The Chinese mobile operator China Mobile has awarded a contract worth 120 million RMB for humanoid robot manufacturing to two companies [20] - This procurement reflects the growing interest and investment in robotics within the telecommunications sector [20] Group 8 - Xiaomi is set to open a flagship store in Shenzhen, showcasing its commitment to expanding its retail presence [15] - The new store will feature advanced architectural design and is part of Xiaomi's broader strategy to enhance customer engagement [15]

Core Insights - The article provides an overview of the latest trends in domestic investment and financing events, highlighting a significant decrease in the number of financing events compared to the previous week [5][3]. Group 1: Investment Overview - A total of 62 financing events were disclosed in the domestic primary market this week, a decrease of 85 events compared to last week [5]. - The total disclosed financing amount reached 5.263 billion RMB, with an average financing amount of 181 million RMB [5]. Group 2: Industry Distribution - The most active sectors in terms of financing events were artificial intelligence (19 events), smart manufacturing (9 events), and enterprise services (6 events) [7]. - In terms of disclosed financing amounts, artificial intelligence led with a total of approximately 3.687 billion RMB, including a notable investment of 122 million USD in the AI-driven company TARS [8]. Group 3: Regional Distribution - The majority of disclosed investment events were concentrated in Shanghai (15 events), Zhejiang (14 events), and Jiangsu (10 events) [15]. - Shanghai reported a total financing of 1.776 billion RMB across 9 events, while Jiangsu had 10 events with a total financing of 1.041 billion RMB [18]. Group 4: Stage Distribution - The stage distribution of the disclosed investment events showed that 40 were early-stage, 10 were growth-stage, and 3 were late-stage [19]. Group 5: Active Institutions - The most active investment institutions this week included Panlin Capital (3 investment events), Xianghe Capital (3 events), and Pudong Venture Capital (2 events) [29]. Group 6: IPO Insights - A total of 11 companies were monitored for IPOs, with the highest market capitalization being 100.977 billion HKD for Lens Technology [31]. - Among the listed companies, 7 had previously received VC/PE or CVC investments, indicating a strong backing from institutional investors [32]. Group 7: M&A Events - There were 15 disclosed completed M&A events this week, an increase of 5 compared to the previous week, with significant activity in traditional industries, enterprise services, and healthcare [43]. - A notable transaction involved Fulede acquiring 100% of Fulehua Semiconductor for 6.55 billion RMB, highlighting the ongoing consolidation in the semiconductor sector [43].