Core Viewpoint - The article discusses the phenomenon of "0-kilometer used cars" in the Chinese automotive market, highlighting the implications of this trend for the industry, including price wars and inventory management [6][19][48]. Group 1: Market Dynamics - "0-kilometer used cars" are vehicles that have been registered but not driven, often sold at a discount of 20%-30% compared to new car prices, with some models seeing price cuts of up to 30% [6][17]. - The emergence of this market segment is linked to the ongoing price wars in the automotive industry, where manufacturers and dealers are under pressure to reduce inventory and stimulate sales [19][44]. - The phenomenon has led to a complex export chain, particularly to markets like Russia, where these vehicles are sold under the guise of used cars to avoid tariffs [8][15]. Group 2: Regulatory and Industry Response - The Chinese Ministry of Commerce has initiated discussions to regulate the "0-kilometer used car" market, indicating a growing concern over the chaotic nature of this segment [14][43]. - Industry leaders, including Great Wall Motors' chairman, have criticized the practice, calling it a distortion of the market that could lead to long-term negative consequences for the automotive sector [11][48]. - The article notes that the practice of selling "0-kilometer used cars" is often a response to sales pressure from manufacturers to dealers, creating a cycle of inventory management issues [41][43]. Group 3: Consumer Implications - Consumers may face risks when purchasing "0-kilometer used cars," particularly regarding warranty coverage, as many manufacturers limit warranties to the first owner [32][36]. - The article highlights that the penetration rate of new energy vehicles in the used car market remains low, at around 7.9%, indicating consumer hesitance towards these vehicles [33]. - Concerns about the condition of these vehicles, including potential issues from prolonged storage, may affect consumer confidence and safety [39][41]. Group 4: Future Outlook - The article suggests that the current trend of "0-kilometer used cars" may evolve as regulatory frameworks are established and market dynamics shift, particularly in response to changing consumer preferences and international trade policies [29][30]. - The automotive industry is urged to focus on quality over price competition to foster a healthier market environment, as the ongoing price wars could lead to long-term detrimental effects on product quality and brand reputation [50][51].

以下文章来源于财经天下WEEKLY ，作者财经天下 视觉 | 顾芗 财经天下WEEKLY . 《财经天下》周刊官方账号，提供有品质的深度报道，讲述中国企业在时代浪潮中的精彩故事。 本文转载自财经天下WEEKLY 值班 编辑｜ 江江 离不开、带不走的充电宝 充电宝"爆雷"的余波还在不断扩大。最近，不少旅客晒出了成筐的充电宝在机场被拦下的照片，"人在外 地，莫名其妙损失一个充电宝"。 林斐经常出差，有比较严重的"电量焦虑"，充电宝就是她手机的"续命神器"。 "现在手里两个充电宝我都不敢用了，出门只能拿电脑反向给手机充电。一个是安克创新没有3C认证的 充电宝。另一个是小米带3C标识的充电宝，但我这个批次小米的3C认证也刚被暂停了。" 6月26日，民航局发布通知，"2025年6月28日起，禁止旅客携带没有3C标识、3C标识不清晰、被召回型 号或批次的充电宝乘坐境内航班"。 早在2023年7月，国家市场监督管理总局就曾发布公告，自2023年8月1日起对锂离子电池和电池组、移 动电源实施3C认证管理。自2024年8月1日起，未获得3C认证证书和标注认证标志的，不得出厂、销售、 进口或者在其他经营活动中使用。 "我需要赶快 ...

Core Viewpoint - The article discusses the significant investment by Zhong Shanshan in Jinbo Biological, a rising player in the medical beauty industry, highlighting the strategic partnership and potential for business synergies in the field of recombinant collagen products [5][11][14]. Group 1: Investment Details - Jinbo Biological announced two transactions, including introducing Yangshengtang as a strategic investor, with a total transaction amount reaching 3.4 billion yuan [5][10]. - The company plans to issue up to 7.18 million shares to Yangshengtang, which would represent 6.24% of its pre-issue total share capital, aiming to raise no more than 2 billion yuan, potentially marking the largest cash capital increase in the history of the Beijing Stock Exchange [9]. - Yang Xia, the controlling shareholder, will transfer 5.75 million shares to Hangzhou Jiushi at a price of 243.84 yuan per share, totaling 1.403 billion yuan [10]. Group 2: Company Background - Jinbo Biological, founded by Yang Xia, focuses on recombinant collagen products and has achieved a market value of 40 billion yuan [7][12]. - The company has developed a range of products, including recombinant collagen injections, which have gained significant popularity in the medical beauty sector [24][25]. - As of the first quarter of 2025, Jinbo Biological had cash reserves of only 959 million yuan, indicating a need for new investment to expand production capacity [13]. Group 3: Market Potential - The medical beauty industry, particularly recombinant collagen, is experiencing rapid growth, with Jinbo Biological reporting a revenue of 1.443 billion yuan in 2024, a year-on-year increase of 84.92%, and a net profit of 732 million yuan, up over 140% [25]. - The gross profit margin for Jinbo Biological reached 92%, surpassing that of leading companies like Kweichow Moutai [25]. - The article emphasizes the strong consumer interest in beauty products, with recombinant collagen being positioned as a new trend in skincare, potentially rivaling hyaluronic acid [29][34].

Core Viewpoint - Daphne, once on the brink of bankruptcy, has made a remarkable comeback by focusing on online sales and adapting to market trends, achieving significant revenue growth and profitability in recent years [5][8][37]. Financial Performance - In 2024, Daphne reported a revenue of 322.3 million RMB, a 23% increase from 262.6 million RMB in 2023 [6][8]. - The profit attributable to shareholders reached 106.6 million RMB, marking a 71% year-on-year growth [6][8]. - Operating profit increased by 43% to 96.6 million RMB, with an operating margin of 30% [6][8]. - Cash and cash equivalents rose by 30% to 476.2 million RMB, indicating improved liquidity [6][8]. Market Position and Strategy - Daphne has become a leading brand in the online women's shoe market, ranking first in sales on Douyin since February 2023 [5][8]. - The brand has shifted from a traditional retail model to a "light asset" model, focusing on e-commerce and brand licensing [30][37]. - The introduction of the sub-brand Daphne.Lab targets younger consumers and expands the price range, with products priced up to 1,000 RMB [18][49]. Product Development and Consumer Engagement - Daphne has significantly reduced its product launch cycle, now comparable to fast fashion brands like H&M and ZARA [12][20]. - The brand's successful online strategy includes a robust promotional matrix and the establishment of 152 self-broadcast accounts for live selling [17][18]. - The company has diversified its revenue streams, with licensing fees contributing 39.4% of total revenue in 2024 [21][35]. Challenges and Future Outlook - Despite recent successes, Daphne faces challenges in maintaining brand identity and consumer loyalty, as it relies heavily on brand licensing and low-cost alternatives [41][45]. - The company plans to open one or two physical stores for its sub-brand in first-tier cities to enhance brand presence and consumer experience [49][50]. - The long-term sustainability of Daphne's business model remains uncertain, as it must balance online and offline strategies to meet consumer needs [45][48].

本文转载自每日经济新闻 值班编辑 | 江江 视觉 | 诺言 特朗普此前高调售卖的"土豪金"配色T1智能手机，却被发现悄悄删除了"美国制造"的标签，这无疑给特 朗普的"美国优先"口号蒙上了一层阴影。 此外，为了让苹果回到美国生产，美国总统特朗普又威胁苹果公司，如果产品非美国制造，将面临25% 的关税。但外界显然不看好iPhone"美国制造"计划。 "土豪金"手机产地罗生门： 从"美国制造"变成"美国自豪设计" 特朗普集团此前高调推出的土豪金配色的T1智能手机，悄悄地玩起了"文字游戏"，引发了美国媒体对 其"美国制造"承诺真实性的质疑。 特朗普集团推出的T1智能手机 这款定价499美元的金色款T1手机，在发布之初曾高调宣传其"美国制造"。根据有报道指出，特朗普集 团官网上最初赫然写着："我们推出的美国制造T1手机现已开放预购。" 这一明确的表述，无疑是为了迎 合特朗普"美国优先"的理念，吸引那些支持恢复美国本土制造业链条的忠实消费者。 然而特朗普集团近期已悄然移除了官网中所有关于T1手机"将在美国制造"的相关说法。目前T1手机的相 关网页仅显示，该手机乃是"美国自豪设计""诞生于美国本土"，但并未明确提及实际的制 ...

Core Viewpoint - The article discusses the rise and controversy surrounding the game "Emotional Anti-Fraud Simulator," which reflects real-life emotional manipulation and fraud in relationships, particularly focusing on the "fish-catching girl" phenomenon [4][19]. Group 1: Game Overview and Performance - The game, originally titled "Fish-Catching Girl Game," was renamed due to public backlash but still achieved significant success, selling over 680,000 copies within five days and generating approximately 34 million yuan in revenue [6][10]. - Priced at 33 yuan, the game was discounted to 29.04 yuan, making it more affordable than similar interactive narrative games, which typically range from 52 to 68 yuan [9]. - The game features real-life filming and acting, with a total interactive content duration of 7.8 hours, and aims to educate players on healthy relationship dynamics through its narrative [11][26]. Group 2: Social Reflection and Controversy - The game's narrative resonates with players due to its reflection of real-life emotional scams, drawing parallels to actual cases like the "Fat Cat Incident" and "Zhai Xinxin Case" [12][14]. - Critics argue that the game perpetuates negative stereotypes about women and reinforces a victim mentality among men in relationships, leading to significant backlash and calls for accountability [19][21]. - Despite the criticism, some players find value in the game as a guide for recognizing emotional manipulation, suggesting that it can foster more rational views on relationships [19][27]. Group 3: Industry Trends and Future Directions - The success of "Emotional Anti-Fraud Simulator" highlights a shift in the interactive gaming industry towards addressing social issues, moving beyond traditional themes to explore more controversial topics [51]. - The game represents a new trend in the interactive narrative market, which has seen a rise in real-life inspired content, with over 60 similar games launched on platforms like Steam [48][50]. - Industry analysts suggest that future developments in this genre may require leveraging AI to enhance player engagement and narrative complexity, moving away from simplistic emotional triggers [51][52].

以下文章来源于NBD汽车 ，作者每经记者 NBD汽车 . 新闻在身边，我在你左右 本文转载自每日经济新闻 值班编辑 | 宝珠 视觉 | 顾芗 备受关注的小米YU7价格公布了。 6月26日晚间，小米汽车旗下首款SUV车型——小米YU7正式上市。新车共推出标准版、Pro、Max三个 版本车型，售价分别为25.35万元、27.99万元、32.99万元。 "起售价比Model Y便宜1万元，我们想给YU7更实惠的价格。"小米集团创始人、董事长雷军在发布会上 表示。 关于小米SU7的定价，外界一直猜测不断——19.9万元、22.59万元等不同版本的价格传闻此起彼伏，但 雷军均否定了这些猜想。 在小米YU7正式上市前两天，雷军再次公开回应称，"网上有不少人在猜价格，YU7 标准版比SU7标准版 贵2万~3万元。我已经公开否认过，因为YU7标准版配置很高，放在行业里，相当于友商的Max版甚至 Ultra版的配置"。 小米集团总裁卢伟冰在此前的一次直播中也强调称，"这次价格不会便宜，我们要卷产品、卷技术、卷 用户价值"。 据小米汽车官微最新消息，3分钟，小米YU7大定突破200000台。 雷军否认YU7是升级版SU7 据雷军 ...

Core Viewpoint - The article discusses the evolving dynamics between two prominent figures in China's wealthy elite, Wang Sicong and He Youjun, particularly focusing on their involvement with the company Huanju Commercial Management Co., Ltd. and the shift in leadership and ownership from Wang to He [2][6][12]. Group 1: Company Overview - Huanju Commercial is a company specializing in immersive experiences and scene operations, registered in a Wanda Plaza in Beijing [2]. - The company underwent a significant change in its shareholder structure, with He Youjun's company replacing Wang Sicong's companies as the largest shareholder [6][7]. Group 2: Events and Milestones - In November 2023, Wang Sicong attended a signing ceremony for a cultural tourism project with the Tai'an government, marking a notable public appearance [4][8]. - By June 2025, He Youjun was present at a product launch event, indicating a shift in leadership as he became the chairman of Huanju Commercial [6][12]. Group 3: Personal Backgrounds and Career Trajectories - Wang Sicong is recognized as a pioneer in the esports industry, having founded the esports team iG and contributed to the professionalization of the sector [16][19]. - He Youjun entered the esports scene later, establishing the V5 esports club and the Macau Esports Association, showing a strategic approach to entrepreneurship [25][26]. Group 4: Market Dynamics and Future Outlook - The esports industry has evolved significantly since 2018, with increasing recognition of its commercial potential, which both figures have capitalized on in different ways [27][29]. - He Youjun's company, Star Competition, went public on NASDAQ in July 2024, indicating a successful entry into the market, while Wang Sicong's ventures have faced challenges and decline [41][53].

Core Viewpoint - The price of Feitian Moutai has significantly dropped, indicating a downward trend in the high-end liquor market, with potential implications for other brands like Wuliangye [2][6][15]. Price Trends - On June 25, the wholesale reference price for 25-year Feitian Moutai was reported at 1830 RMB per bottle, down 85 RMB from the previous day; the price for the 24-year version was 1890 RMB, down 60 RMB [2]. - The price of 43-degree Feitian Moutai and other products has also seen a decline, with kilogram Moutai dropping nearly 5% over two days [3]. - The prices for various Moutai products have consistently decreased, with the 25-year bottle previously selling for 3800 RMB now at 2230 RMB, marking a decline of over 41% [8]. Market Reactions - E-commerce prices have also fallen, with some platforms listing 25-year Feitian Moutai at 1800 RMB per bottle [10]. - Many second-hand gift recovery businesses have paused Moutai purchases due to the significant price drop, with recovery prices now between 1700-1800 RMB [10]. Impact on Competitors - The decline in Moutai prices is expected to exert pressure on other high-end liquor brands, particularly Wuliangye, leading to potential price competition and demand shifts [15][16]. - Analysts suggest that Moutai's price drop could trigger panic selling among distributors, further affecting the sales outlook for Wuliangye and similar brands [16]. Company Actions - Moutai Group's General Manager Wang Li has been actively visiting major e-commerce platforms to stabilize online prices and maintain distributor confidence [17]. - Recent actions by Wang Li may aim to leverage partnerships for expanding Moutai's market presence, particularly in Southeast Asia [18].

Core Viewpoint - The article highlights the rising popularity of lychee, particularly in the context of the recent drama "Chang'an's Lychee," which has significantly increased consumer interest and demand for this fruit in various forms, including beverages and desserts [3][5][6]. Group 1: Market Trends and Consumer Behavior - The search volume for "lychee" on Meituan increased by 179% year-on-year as the weather warmed up in June [5]. - In Guangdong's Maoming, lychee production exceeded 500,000 tons last year, generating an annual output value of over 12 billion yuan [6]. - The influx of tourists during the lychee season in Maoming has increased by over 150% compared to the same period last year [6]. Group 2: Historical Significance and Cultural Context - Lychee has historically been regarded as a luxury item, often associated with imperial courts, as depicted in ancient poetry and literature [10][11][20]. - The tribute history of Guangdong lychee can be seen as a unique cultural narrative of high-end marketing [14]. - The transportation of lychee from southern regions to the capital in ancient times was a significant challenge, often requiring innovative methods to preserve freshness [20][42]. Group 3: Modern Transportation and Logistics - Modern logistics companies, such as SF Express and JD Logistics, have developed specialized cold chain solutions to ensure the freshness of lychee during transportation [46][47]. - The costs associated with cold chain logistics can sometimes exceed the price of the fruit itself, yet consumers are willing to pay for the quality and freshness [48][49]. - The article emphasizes the importance of ensuring that lychee farmers benefit from the increased demand and prices, advocating for a more equitable agricultural supply chain [51][52].