Group 1 - Applied Digital plans to spin off its cloud computing business and merge it with EKSO to form a new entity named "ChronoScale Corporation," with Applied Digital retaining approximately 97% ownership post-transaction, expected to complete in the first half of 2026 [2] - The launch of "Loomos AI Display Glasses S1" by Shanjiji, featuring the "Phoenix Architecture 2.0," aims to redefine "active AI glasses" with lightweight design and advanced display technology, focusing on "active AI reminders" [2] - RunningHub and Alibaba's ComfyUI-Copilot have launched the world's first commercial ComfyUI-Agent, marking a significant advancement in AIGC workflow development, transitioning from "tool empowerment" to a new paradigm of "ecological intelligence" [2] - The release of the world's first vertical large language model "Ruixue" in Nanjing signifies a shift in agricultural practices from traditional methods to data modeling and intelligent prediction, supporting sustainable agricultural production [2]

Core Viewpoint - The article discusses the cautious approach of franchise operators in the current market, highlighting the challenges and risks associated with joining new brands, particularly in the food and beverage sector. It emphasizes the need for careful evaluation of brand viability and market conditions before making investment decisions [5][6][24]. Group 1: Franchise Market Trends - Franchise operators are increasingly hesitant to open new stores, with one operator reporting zero new projects in the past year, reflecting a shift in market dynamics and increased competition [7][8]. - The lifespan of successful restaurant brands has decreased significantly, with operators estimating it to be around six months to one year, compared to previous years [6][31]. - The number of snack stores has doubled within a year, but the consumer base has not expanded correspondingly, leading to intensified competition and reduced profitability [9][10]. Group 2: Investment Considerations - Operators are focusing on brands that have demonstrated success and are looking to enter the market at the peak of a brand's momentum to ensure quick returns on investment [6][12]. - The costs associated with opening new stores, particularly in the hard discount supermarket sector, are substantial, with estimates ranging from 2.6 million to 4 million yuan, making it a significant financial commitment [25][29]. - The article highlights the importance of location in determining store performance, with a good site potentially accounting for 80% of a store's success [12]. Group 3: Consumer Behavior and Market Dynamics - There is a growing consumer preference for quality and cost-effectiveness over brand prestige, allowing smaller, well-managed brands to thrive [21][22]. - The article notes that many franchise operators are now more cautious and selective, often waiting for the right opportunity rather than rushing into new ventures [24][32]. - The rise of social media influencers in promoting franchise opportunities has created a complex landscape where distinguishing genuine opportunities from marketing hype is increasingly challenging [15][20].

Group 1 - Luo Yonghao returned to the tech launch stage after seven years, hosting the "2025 Annual Technology Innovation Sharing Conference" in Shanghai, with over 2 million online viewers on Douyin and Weibo [3][4] - The event showcased over ten innovative Chinese tech products, including exoskeletons, drones, and 3D printers, emphasizing the importance of innovation in the industry [4] - Luo announced a plan to create an "accelerator + crowdfunding community" ecosystem to support local innovation [4] Group 2 - Kuaishou's Vice President Zhou Guorui is reportedly leaving the company, with no official response from Kuaishou as of the report [6] - SoftBank has fully completed its $40 billion investment commitment to OpenAI [6] - Xiaomi plans to launch four new car models in 2026, including two range-extended SUVs [6] Group 3 - Pang Donglai Group reported a sales revenue of approximately 23.41 billion yuan for 2025, with supermarket sales reaching 12.58 billion yuan [6] - Qingtian Rental launched an "instant rental" service for robots at a promotional price of 1 yuan in ten major cities [8] - Zhui Mi Technology announced a "Family Health Protection Plan" for employees and their immediate family members, effective January 1, 2026 [9] Group 4 - Applied Digital plans to spin off its cloud business and merge it with EKSO to form a new entity named "ChronoScale Corporation" [16] - Huawei's rotating chairman Meng Wanzhou outlined the company's strategic focus areas for 2026, including AI integration and enhancing the Hongmeng ecosystem [17] - Cao Cao Mobility announced the acquisition of 100% equity in Weixing Technology for a total cash consideration of 225 million yuan [17] Group 5 - KKR announced the acquisition of the Incheon Cheongro logistics center, marking the largest single-asset logistics transaction in South Korea to date [17] - Hong Kong University issued a statement denying any unauthorized recruitment through intermediaries [17] - Shanghai Tai Xi Micro completed a new round of financing of nearly 100 million yuan for the production and development of automotive-grade SoC chips [19]

1.【特斯拉官微公开新款Model Y高性能版设计手稿】12月30日，特斯拉官微宣布Model Y L设计师 手稿首度公开，并公开了新款Model Y Performance车型设计手稿。今年9月，特斯拉宣布新款 Model Y高性能版在美国上市，起售价为5.75万美元。目前，新款Model Y高性能版尚未在中国市场 上市。（新浪财经） 3.【智界V9实车曝光 将于2026年春天发布，预计售价40-50万元】日前，鸿蒙智行旗下首款MPV ——智界V9实车曝光，新车承袭了鸿蒙智行"极致、简约、纯净"的美学原则，并将会首发全新一代 华为乾崑智驾硬件、新一代智慧座舱、全新一代DLP投影大灯、黑科技零重力座椅等豪华配置，并搭 载双腔空气悬架、后轮转向系统、道路预瞄等。据了解，智界V9将于2026年春天正式发布，预计售 价40-50万元左右。（腾讯网） 4.【本田澄清：Prelude双门轿跑暂无Type S或Type R高性能版本计划】12月29日消息，据汽车媒 体 Carcoops 报道，自本田复活 Prelude 这一经典双门轿跑后，外界便开始不断猜测这款汽车是否 会推出 Type S 或 Type R 高性能版本 ...

Core Viewpoint - LeXiang Technology has achieved significant milestones in the consumer-grade embodied intelligence sector, marking a pivotal shift from technology validation to commercial scalability with a reported annual revenue of 10 million and a billion-level market cooperation within its first year of establishment [2][6][11]. Group 1: Company Overview - Founded in December 2024, LeXiang Technology differentiates itself by focusing on underexplored consumer scenarios such as home care, elderly support, and pet companionship, establishing a unique technological barrier [8]. - The core team has expertise in key areas such as robotics, algorithm optimization, motion control, and generative AI, with a self-developed consciousness bionic model that accurately captures user emotions and body language [8][9]. Group 2: Market Impact - LeXiang Technology's achievements provide a rare value anchor in the consumer-grade embodied intelligence market, which has lacked significant commercial breakthroughs compared to industrial applications [11]. - The company's strategy of validating product value before high-profile launches reflects a pragmatic approach to market demands, indicating a shift in consumer-grade embodied intelligence from concept to practical application [9][11]. Group 3: Product Highlights - The W1, an outdoor track-based robot, fills a gap in the market for home outdoor smart devices, capable of navigating complex terrains and performing various tasks such as transporting goods and providing security [13][15]. - The M1, a mini humanoid robot, focuses on indoor family care and companionship, featuring functionalities like fall detection, two-way video calls, and educational modules, enhancing the overall family experience [18][21]. Group 4: Industry Insights - The success of LeXiang Technology's products emphasizes the importance of focusing on genuine user needs in the rapidly evolving landscape of embodied intelligence, suggesting that the sector could evolve into a trillion-level market [22][23]. - As the company prepares for the official launch and scaling of its products, its ability to refine user experience and expand into additional consumer scenarios will be crucial for long-term competitiveness in the consumer-grade embodied intelligence space [23].

以下文章来源于真格基金 ，作者与你同在的 真格基金 . 专注早期投资，欢迎投递商业计划书至 dream@zhenfund.com 来源丨真格基金（ID： zhenfund ） 图源丨Midjourney 从 2016 年的一场黑客松，到 2025 年末新年钟声敲响前夕，从「小插件」到 Manus，从夜莺 科技到蝴蝶效应——真格基金陪伴肖弘和他的团队走过了整整十年。这是 Meta 自成立以来第三 大的并购，仅次于 WhatsApp 和 Scale AI。合并完成后，蝴蝶效应将在公司、团队和产品层面 继续保持独立运营，同时与 Meta 旗下核心全球消费级产品进行深度整合。 创始人肖弘和早期合伙人们来自华中科技大学，没有海外留学的光环，也没有大厂高管的履历， 从一间民居开始，筚路蓝缕摸爬滚打，历经成长和迭代，做出了令国内外各大厂竞相模仿与致敬 的产品——开一时之风，定义了 AI 时代或许最重要的 Agent 产品形态。 团队虽然不进行模型训练，却领先地意识到，对用户的深刻理解与卓越的产品工程能力才是这个 时代高度的稀缺。 这些能力或许常不被视为「核心技术」，却是一家公司和一款产品走向成功 的决定性因素。事实证明了这 ...

Core Viewpoint - Xunce Tech, recognized as the first "Data Agent" stock in Hong Kong, has recently gone public, focusing on real-time data infrastructure and analytics solutions, primarily serving the asset management industry and expanding into other sectors [2][3]. Company Overview - Founded in 2016, Xunce Tech started in the asset management sector and has since expanded its client base to include financial services (excluding asset management), urban management, production management, and telecommunications [2]. - The company ranks first in China's real-time data infrastructure and analytics market within the asset management industry, holding a market share of 16% as of 2024 [2]. IPO Details - Xunce Tech issued 22.5 million H-shares at a price of HKD 55.0 per share, raising approximately HKD 1.2 billion, with a current market capitalization of HKD 15 billion [2]. - The IPO attracted nine cornerstone investors, collectively subscribing to about USD 40 million [2]. Funding History - Over its 10 years, Xunce Tech has completed seven rounds of external financing, raising over RMB 2.1 billion, with notable investors including Tencent, KKR, and Yunfeng Capital [3][6]. Leadership Background - The founder and CEO, Liu Zhijian, has extensive experience in financial institutions, having worked at the Royal Bank of Scotland and as an executive director at a Hong Kong investment company before establishing Xunce Tech [5]. - Liu's father, Liu Chengxi, is the largest shareholder through various entities, holding 28.86% of the shares [5]. Product and Service Offering - Xunce Tech's core product is a cloud-native unified data platform that collects, cleans, manages, analyzes, and governs heterogeneous data from multiple sources [9]. - The company focuses on developing trading management systems and trading robots for the asset management industry, targeting institutional investors and large individual investors [9]. Financial Performance - Xunce Tech is currently in a "burning cash" phase, with revenues of approximately RMB 288 million, RMB 530 million, RMB 632 million, and RMB 198 million for the years 2022, 2023, 2024, and the first half of 2025, respectively [10][12]. - The company reported net losses of RMB 96.5 million, RMB 63.4 million, RMB 97.8 million, and RMB 108 million for the same periods [10][12]. R&D Expenditure - The company attributes its net losses to significant R&D expenditures, which accounted for 89.9%, 71.5%, 71.3%, and 85.0% of revenue from 2022 to the first half of 2025 [13]. - The gross margin for the asset management business has decreased from 82.5% in 2022 to 71.1% in 2023, primarily due to increased equipment deployment costs [13][14]. Market Position and Competition - The real-time data infrastructure and analytics market in China is rapidly growing, with over 400 participants and a market size of RMB 18.7 billion by the end of 2024 [19]. - Xunce Tech ranks fourth in the overall real-time data infrastructure and analytics market and first in the asset management sector [19]. - The company faces competition from major cloud service providers like Alibaba Cloud and Tencent Cloud, which offer comprehensive product lines [20][22]. Future Outlook - Xunce Tech is at a critical juncture in its profitability model transition, needing to effectively manage resource allocation for customized projects and convert initial investments in new industries into sustainable revenue [17].

以下文章来源于创业邦出海进行时丨Going Global ，作者卷耳 《创业邦出海进行时》是创业邦推出的出海主题专栏，旨在记录中国公司开拓海外市场的足迹与思考， 沉淀全球化征程中的"术与道"。 创业邦出海进行时丨Going Global . 当 Meta 宣布收购 AI 初创公司 Manus 时，这笔交易很快在硅谷与亚洲创业圈同时引发关注。它不 仅意味着 Meta 在人工智能战略上的一次重要转向，也标志着一支 中国创始团队 ，凭借产品与商业 化能力，成功走入全球科技巨头的核心版图。 这是一家在短时间内完成 产品突破、规模化落地与全球化验证 的 AI Agent 公司。 据海外媒体报道， Manus利用 Anthropic 等公司的人工智能基础模型来驱动其智能代理（Agent)， 目前在新加坡、东京和旧金山共有 105 名员工，并计划很快在巴黎开设办事处。 一次被硅谷看见的产品突破 Manus 真正被外界注意到，是在 2025 年 3 月的一次产品预览中。 在那次演示里， Manus 展示了一款通用型 AI Agent：它可以根据简单指令，生成结构化、可交付的 研究报告，自动搭建定制化网站，并在多工具、多步骤的 ...

作者丨 杨婧雪 编辑丨 刘恒涛 图源 丨Midjourney 在创新药研发领域，临床试验一直是耗时最长、资金投入最大的环节之一。尽管早期药物发现阶段已经引入了人工智能（AI）筛 选、基因编辑等前沿技术，但在临床试验执行层面，依然保留着大量传统的线下人工作业模式，亟需数字化转型升级。 羚研创新是临床研发数字化这一赛道上的最先入局者之一。这家初创公司，主要业务方向是远程智能临床试验（DCT）平台及数 智化临床运营和内容服务。与行业巨头相比，羚研创新的切入点相对垂直，试图通过全流程整合的软件和AI服务的模式，解决临 床试验中因物理距离和人工操作带来的效率损耗。 跨界生物学+计算机 直击手工作业流程的顽疾 羚研创新创始人李高扬拥有生物学与计算机的复合背景，曾在拜耳、医渡科技等企业任职。在多年的从业经历中，他观察到医药 研发服务行业存在结构性的效率矛盾。 多项独立的国内外研究均表明，临床试验在药物研发总成本中占比50%-70%甚至更高。而在临床试验预算中，差旅、访视及现 场管理等人力成本，往往占据大部分比例。 而且主导临床试验服务的传统合同研究组织（CRO）服务商，大多采用按工时人力投入，并结合项目里程碑计费的商业模式 ...

Group 1 - Russia successfully launched 52 satellites using the "Soyuz-2.1b" rocket, which took off from the Vostochny Cosmodrome in the Amur region on December 28, with all satellites entering their designated orbits [2] - TSMC is experiencing tight capacity for advanced processes below 3nm, leading to a planned price increase for these processes starting January 1, 2026, due to high demand from clients like Nvidia and AMD [2] - Amazon has decided to suspend its drone delivery program in Italy, citing broader commercial regulatory issues despite progress in aviation regulations [2] Group 2 - XPeng's subsidiary, Guangzhou Huitian Flying Car Manufacturing Co., has increased its registered capital from 650 million RMB to 900 million RMB, marking an increase of approximately 38% [2]