Core Points - The new regulations for Japan's "Business Management" visa have significantly raised the capital requirement to 30 million yen (approximately 1.4 million RMB), marking the end of the era where 5 million yen (around 250,000 RMB) was sufficient for immigration [5][20][34] - The policy change is expected to impact over 20,000 Chinese families, leading to a potential "return tide" of Chinese immigrants from Japan [6][11][34] - The new requirements include hiring at least one full-time Japanese or permanent resident employee, a Japanese language proficiency of N2 or higher, and specific educational or managerial experience [20][22][34] Group 1: Visa Changes and Impact - The new regulations officially took effect on October 16, 2023, after being announced on October 10 [5][20] - The increase in the capital requirement is seen as a direct closure of the previously accessible immigration pathway for many [6][34] - Many individuals are now reconsidering their plans, with some opting to return to China while others are trying to meet the new requirements [5][34] Group 2: Immigrant Experiences - Many immigrants, such as Ai Wan and Zhao Yue Shan, are facing difficult decisions regarding their future in Japan due to the new regulations [5][9][34] - The experiences of immigrants highlight the challenges of adapting to life in Japan, including language barriers and cultural differences [14][15][34] - The financial burden of maintaining a business under the new regulations is causing stress among current visa holders, with some unable to meet the new employment requirements [22][34] Group 3: Industry Reactions - The immigration consultancy industry is experiencing a shift, with some firms seeing a decrease in clients as potential applicants become more cautious [29][34] - There is a growing sentiment among industry professionals that the new regulations are designed to filter out those who do not meet Japan's expectations for business management [29][34] - The tightening of visa regulations is expected to lead to a significant reduction in the number of individuals holding the Business Management visa, particularly among those who were not genuinely operating businesses [30][34]

以下文章来源于十点人物志 ，作者参宿叁、芝士咸鱼 十点人物志 . 在这里，遇见每一个值得被记录的人 本文来自微信公众号： 十点人物志 ，作者：参宿叁，编辑：芝士咸鱼、野格，题图来自：AI生成 在月经来潮前，你是否曾有过这样的感受？ 心情莫名低落，不想说话也不想工作。与此同时，身体发出信号：心悸、失眠、多梦、暴饮暴食、爆痘、记忆 力下降……那几天，你常常觉得"世界和我只能活一个"。 许多人对此已经习以为常。"每个月都有那几天啦""她就是情绪不好，过几天就好了"。这些轻描淡写的话语掩 盖了一个事实：不适的感受并非"作"或"矫情"，而是一种真实的疾病。 长期以来，这种疾病在公共视野中近乎隐形。直到今年4月，日本电影《黎明的一切》在国内上映，才第一次 将镜头对准 经前期综合征患者 。许多观众在看完后纷纷感叹："这些症状我也有，原来我不是情绪不稳定，而 是生病了。" 图源：电影《黎明的一切》 每月一次的身心风暴，可能正是经前期综合征 （Premenstrual Syndrome， 简称PMS） 在悄然发生。 月经来潮前，身心的双重崩溃 女性的月经痛苦，其实在来潮前就已经开始。 医学研究表明，早在月经来潮前的1～2周，一 ...

Core Insights - The article discusses the essential traits and capabilities that young AI entrepreneurs should possess to succeed in the rapidly evolving AI landscape [2][3][4]. Group 1: Key Evaluation Dimensions - "Hands-on ability" is a consensus among evaluators, emphasizing the importance of not just having an idea but also the capability to write code and develop a working demo [2]. - "User sensitivity" is crucial, as young entrepreneurs must be attuned to real user needs, which can be both a challenge and an opportunity due to their relative inexperience [2][3]. - "Open-mindedness" is highlighted, with many AI entrepreneurs targeting international markets from the outset, driven by the limited payment willingness and capability of domestic users [3][4]. Group 2: Speed and Adaptability - The ability to iterate quickly is essential, as teams that cannot adapt rapidly may miss critical market opportunities [4]. - A strong user community and ecosystem are necessary for sustaining user engagement and preventing churn, with a focus on continuous product iteration based on user feedback [4]. - The concept of a "data flywheel" is important for building a competitive advantage through accumulated user data [4][5]. Group 3: Foundational Company Attributes - A good AI-native company should demonstrate "technological originality," ensuring that AI is integral to its offerings rather than merely an add-on [5]. - "Product refinement capability" is vital, as it involves transforming complex technologies into seamless user experiences [5]. - "Team adaptability" is necessary for maintaining resilience and adjusting pace in a fast-changing environment [5].

Core Viewpoint - The collaboration between Amazon Web Services (AWS) and the NBA marks the beginning of a new era in basketball, driven by data and AI technology, aimed at enhancing the viewing experience and unlocking unprecedented insights into the sport [2][4]. Group 1: Data Lifecycle in Sports - The partnership focuses on the complete lifecycle of game data, which includes three core steps: data collection, AI model application, and real-time processing and distribution [6]. - The first step involves creating a "digital twin" of the court, utilizing up to 14 advanced optical cameras in each NBA venue to track 29 key body points of each player at a frequency of 60 times per second, resulting in a real-time digital skeletal model [6]. Group 2: AI Insights and Innovations - The second step leverages AI models to transform raw data into actionable insights, with three revolutionary statistics being introduced this season: Defensive Box Score, Shot Difficulty, and Gravity [8]. - Defensive Box Score quantifies defensive performance by measuring pressure frequency and contribution to team defense, moving beyond traditional offensive-centric statistics [9]. - Shot Difficulty assesses the expected shooting percentage based on various factors, including the shooter's posture and the defender's proximity, providing a scientific measure of shot difficulty [11]. - Gravity quantifies the impact of a superstar player's movement on the defensive setup, illustrating their ability to create offensive space for teammates [13]. Group 3: Real-Time Processing and Value Creation - The third step ensures that insights are generated and distributed in real-time, allowing for immediate analysis and integration into broadcasts, enhancing the viewing experience for fans [15]. - The partnership also includes a media rights collaboration with Amazon Prime Video, which will broadcast 67 regular-season games and the NBA Cup, integrating AI-driven data analysis into the viewing experience [15]. Group 4: Multi-Dimensional Value Enhancement - For fans, the introduction of deep data insights transforms their experience from passive viewing to active engagement, deepening their understanding and emotional connection to the game [16]. - For teams, these insights serve as valuable assets for optimizing strategies, managing player workloads, and preventing injuries [16]. - For the league and sports media, AI enhances content production efficiency, allowing for quicker access to tactical videos and richer storytelling [17]. - Future developments in generative AI are expected to further revolutionize the sports industry by offering personalized viewing experiences and reducing the environmental impact of traditional broadcasting [17].

Core Viewpoint - The article discusses the rise and fall of Chen Zhi, a figure involved in a large-scale criminal operation spanning over 30 countries, focusing on his background, business ventures, and eventual legal troubles, particularly related to cryptocurrency and online gambling [3][4][5]. Group 1: Background and Early Ventures - Chen Zhi was born in a prosperous village in Fujian Province and had a modest upbringing, dropping out of school after the second year of junior high [5][6]. - His early career began as a network administrator in internet cafes, which were often associated with illegal gambling activities [8][10]. - He reportedly made his first significant income through operating private game servers, particularly for the popular game "Legend," which involved illegal activities [10][11]. Group 2: Transition to Cambodia and Gambling Operations - In 2009, Chen Zhi moved to Cambodia, where he initially attempted to start a net cafe but later shifted to real estate, establishing a company that lacked substantial projects [12][15]. - The legalization of gambling in Cambodia in 2014 provided Chen Zhi with opportunities to enter the gambling industry, obtaining a gambling license and citizenship [15][16]. - He capitalized on the decline of internet cafes in China, attracting many fellow Fujian natives to work in his gambling operations, which were often linked to illegal activities [16][17]. Group 3: Expansion and Criminal Activities - Chen Zhi's operations expanded significantly, with his business model combining elements of online gambling and fraud, commonly referred to as "killing pigs" scams [18][19]. - By 2015, he established the "Prince Group," diversifying into real estate and small loans, while maintaining connections to his gambling operations [19][20]. - His ventures reportedly generated immense wealth, with estimates suggesting that even his associates earned millions [22]. Group 4: Legal Troubles and Decline - In 2019, the Cambodian government announced a crackdown on online gambling, leading to a mass exodus of Chinese nationals and a significant decline in Chen Zhi's operations [28][29]. - The crackdown severely impacted his real estate and gambling businesses, leading to a loss of income and operational capacity [30][31]. - Chen Zhi's operations became increasingly violent, with reports of kidnappings and murders linked to his gambling enterprises [32][33]. Group 5: Final Downfall - In October 2025, Chen Zhi faced legal action from U.S. authorities, who accused him of running a major money laundering operation through his gambling and cryptocurrency activities [39].

Core Viewpoint - The recent theft at the Louvre Museum in Paris has raised significant concerns about security and governance in France, reflecting broader political and economic instability in the country [4][5][6]. Group 1: Theft Incident - Four suspects executed a brazen theft at the Louvre, stealing eight priceless items in just four minutes, highlighting vulnerabilities in museum security [4][6]. - The area where the theft occurred lacked CCTV surveillance in one-third of its rooms, raising questions about security measures in high-profile locations [4][6]. Group 2: Political Reactions - The theft has sparked strong political backlash, with President Macron and other political leaders expressing outrage and concern over the implications for national pride and security [5][6]. - The incident is seen as a reflection of France's ongoing political turmoil, including a fragmented parliament and a series of government crises [7][9]. Group 3: Economic Context - France is facing significant economic challenges, with a projected budget deficit of 5.8% of GDP and a national debt of 114% of GDP, raising concerns about fiscal stability [7]. - Recent downgrades by credit rating agencies, including S&P and Fitch, indicate growing international concern over France's economic governance and long-term growth prospects [7][8]. Group 4: Social Dynamics - The political and economic instability has led to a shift in consumer behavior, with rising poverty rates and changing consumption patterns among different social classes [11][12]. - The emergence of low-cost retail platforms like Temu reflects a growing preference for affordable goods among consumers facing economic pressures [12]. Group 5: Cultural and Ideological Shifts - The political landscape in France is increasingly polarized, with traditional parties losing influence to extreme political movements, reflecting deep societal divisions [9][10]. - The younger generation in France is leaning towards anti-consumerism and environmentalism, impacting their purchasing decisions and brand preferences [10][11].

Core Viewpoint - The article discusses the evolving landscape of the baking industry in China, highlighting the shift from high-priced trendy products to affordable, quality options that meet consumer needs and preferences [2][4][20]. Market Overview - The high-end baking segment, exemplified by products like "Panettone," has created a perception of value among consumers, but this trend is limited by the sustainability of high prices and marketing [2]. - The first half of 2025 saw a significant decline in the new consumption sector, with only 44 projects raising approximately 2.8 billion RMB, marking a low point in project numbers and disclosed amounts [4]. - The food and beverage sector experienced a 7.33% decline in stock prices, with revenue and net profit growth rates slowing significantly compared to the previous year [4]. Investment Insights - The food and beverage sector's PE valuation has dropped to 7.26%, indicating a potential "margin of safety" for investors [5]. - The demand for affordable, quality bread remains strong, with short-shelf-life bread showing resilience due to its fresh ingredients and low price point, ensuring stable repurchase rates [5][7]. Consumer Behavior - Consumers are increasingly prioritizing value over novelty, with a shift towards products that offer quality at reasonable prices [7][19]. - The concept of "comfort bread" is gaining traction, as consumers favor familiar, affordable options over high-priced alternatives [10][19]. Company Case Study: 桃李面包 (Tao Li Bread) - 桃李面包 has established itself as a trusted brand in the affordable bread market, leveraging a robust supply chain and consistent product quality to maintain consumer loyalty [11][13]. - The company has a strong cash flow, with a net cash flow from operating activities of 434 million RMB in the first half of 2025, indicating resilience amid industry challenges [13]. - 桃李面包's strategic focus on innovation, efficiency, and trust is driving its transformation to adapt to changing consumer preferences and market dynamics [20][21]. Future Outlook - The baking market is expected to continue growing, with the retail market projected to reach 611.07 billion RMB in 2024 and 859.56 billion RMB by 2029, with affordable bread maintaining over 65% market share [10]. - 桃李面包 is adapting to market changes by expanding its product offerings and exploring new sales channels, ensuring its relevance in a competitive landscape [20][21].

Market Movements - Gold prices experienced a significant drop, with spot gold falling by 5.31% to $4124.36 per ounce, marking the largest single-day decline in 12 years [2] - The Philadelphia Gold and Silver Index plummeted by 9.57%, while spot silver decreased by 7.11% to $48.67 per ounce [2] Corporate Developments - Walmart has suspended job offers to candidates requiring H-1B visas, affecting its headquarters staff, amidst ongoing confusion in the labor market due to changes in immigration policy [3] - OpenAI launched its AI-driven web browser, ChatGPT Atlas, which aims to provide a personalized browsing experience, impacting Google's stock, which fell by 4.8% following the announcement [4] - Apple is facing delays in its foldable iPad project, with potential launch pushed to 2029 due to technical challenges [6][7] Geopolitical Events - Ukrainian President Zelensky announced readiness to end the conflict with Russia and plans to sign a new defense agreement with European partners [5] - Discussions between China and the Netherlands regarding ASML semiconductor issues highlight concerns over global supply chain stability [8][9] Technology Updates - Huawei officially released HarmonyOS 6, marking a significant step in the development of a self-reliant operating system ecosystem in China [29]

Core Insights - The article discusses the prevalence and growth of Chinese supermarkets globally, particularly in emerging markets like Southeast Asia and Latin America, driven by familial networks and historical migration patterns [4][5][6]. Group 1: Distribution and Growth of Chinese Supermarkets - Chinese supermarkets can be found in various locations worldwide, including remote areas like Savannah, Jamaica, indicating a widespread presence [4]. - In Argentina, there are approximately 10,788 Chinese supermarkets, with a notable concentration in Buenos Aires, where one can find a store every two to three blocks [4]. - The establishment of these supermarkets often follows a pattern where immigrants are brought over by relatives, leading to a network of family-run businesses [5][6]. Group 2: Challenges Faced by Chinese Supermarkets - Chinese supermarket owners face significant challenges, including theft and violence, particularly in regions with high crime rates like Jamaica and Argentina [7][11]. - In Jamaica, theft is common, with no specific profile for thieves, and even children are known to steal frequently [8]. - In Argentina, the economic situation has worsened, with inflation reaching 211.4% in 2023, leading to increased instances of armed robbery in supermarkets [11][19]. Group 3: Economic Viability and Business Model - Operating a Chinese supermarket requires relatively low barriers to entry, primarily needing initial capital rather than specialized skills [18]. - The business model is characterized as stable and traditional, with average monthly profits around 100,000 RMB, providing a decent living for owners in developing countries [20]. - The Christmas season is particularly profitable for these supermarkets, as local consumers purchase home goods and festive items [19]. Group 4: Social Dynamics and Community - Chinese supermarket owners often operate within tight-knit communities, relying on familial and ethnic networks for support and information sharing [24][25]. - There is a tendency for competition among Chinese businesses, with price wars being common, and cooperation is often limited to those with familial ties [25][26]. - Many owners prefer to maintain a low profile and avoid conflicts, adhering to a culture of discretion in their business dealings [12]. Group 5: Future Trends and Globalization - The competitive landscape for Chinese supermarkets is evolving, with traditional models facing pressure from larger chain stores and changing consumer preferences [30]. - The article suggests that while these supermarkets play a crucial role in introducing Chinese products to local markets, they may be overshadowed by newer business models like e-commerce [30][31].

Core Viewpoint - The article highlights the significant rise in international gold prices and its impact on gold mining companies, particularly Zijin Mining, which has seen substantial stock price increases alongside its gold and copper business growth [5][11]. Group 1: Gold and Copper Business Performance - Zijin Mining's revenue from gold and copper has increased from 74% to 89% of total revenue since 2022, with gold revenue rising from 123 billion to 138.3 billion in 2023 [9]. - The contribution of gold business to Zijin Mining's total revenue growth exceeded 100%, with gold revenue growth significantly outpacing overall revenue growth [11]. - The company is focusing on increasing the proportion of self-mined gold, which has higher profit margins compared to purchased gold [13][15]. Group 2: Profit Margins and Cost Analysis - The profit margin for self-mined gold is significantly higher than that of refined gold, with self-mined gold achieving a gross profit margin of 62.2% in 2025 H1, compared to only 0.84% for refined gold [17][19]. - The article emphasizes that companies with a higher proportion of self-mined gold can benefit more from rising gold prices due to lower cost fluctuations [21]. Group 3: Market Position and Valuation - Compared to Shandong Gold, which has a market capitalization of 190 billion and a P/E ratio of approximately 34, Zijin Mining's gold business could be valued at over 300 billion if listed separately [23][25]. - Zijin Mining's copper business is also highlighted as having strong profit margins, with a gross profit margin of 60.9% for self-mined copper in 2025 H1, outperforming many competitors [28][31]. Group 4: Resource Reserves - Zijin Mining holds significant mineral reserves, including 5,043 million tons of copper and 1,487 tons of gold, which positions the company favorably in the market [34][36]. - The company is increasing its resource base, with new resource additions exceeding extraction rates, indicating a sustainable growth trajectory [36].