Core Viewpoint - The article discusses the sudden passing of Zhao Han, the founder of Yunhaiyao, and highlights his contributions to the restaurant industry, particularly in promoting Yunnan cuisine. It also addresses the challenges faced by the company, including a food safety incident and brand aging issues. Company Overview - Yunhaiyao is a leading restaurant chain specializing in Yunnan cuisine, particularly known for its steam pot chicken. The company was recognized as one of the "Top Ten Most Popular Restaurants" by CCTV in 2017 and reported annual revenue exceeding 1 billion yuan in 2020, positioning itself among the top tier of Chinese casual dining brands [2][3]. Founder Background - Zhao Han was born in 1985 in Kunming, Yunnan. He studied at Renmin University, where he founded Yunhaiyao during his graduate studies. The first restaurant opened in 2009 in Beijing, despite initial losses due to high operational costs and a niche market for Yunnan cuisine [3][4]. Business Expansion - The company shifted its business model to focus on opening restaurants in shopping centers, with 97% of its locations situated in such venues. This strategic move capitalized on the rapid growth of commercial real estate and the increasing popularity of shopping centers [4][5]. Product Development - Zhao Han aimed to create a comprehensive menu that showcased classic Yunnan dishes while appealing to a broader audience. Innovations included combining local ingredients with popular dishes to cater to diverse tastes across China [5]. Investment and Growth - In 2014, Yunhaiyao received investments from Sequoia Capital and other firms, which facilitated its rapid expansion. The company ventured into international markets, opening five locations in Singapore and planning to enter Malaysia in July 2024 [5][6]. Food Safety Incident - A significant food safety incident occurred in July 2024, when 171 employees of ByteDance in Singapore fell ill after consuming meals from Yunhaiyao, leading to a fine of 7,000 SGD (approximately 39,149.6 RMB) and the closure of the implicated restaurant [6][7]. Market Challenges - The company faces challenges such as brand aging and competition from emerging dining concepts like bistros that blend local cuisine with modern dining experiences. As of 2025, Zhao Han stepped back from executive roles, with Zhu Haiqin taking over leadership responsibilities [7].

Core Viewpoint - The rapid development of MCN (Multi-Channel Network) institutions has revealed significant issues, particularly regarding tax compliance and the use of tax evasion strategies to attract streamers [1][3]. Group 1: Tax Compliance Issues - On September 19, the tax authorities exposed two MCN institutions and one streamer for tax violations, highlighting the failure to fulfill tax withholding obligations [2]. - Some MCN institutions have engaged in practices such as inflating costs and creating shell companies to facilitate tax evasion for streamers, leading to a "dual tax evasion" cycle [3][5]. - The tax authorities' actions serve as a warning to both violators and compliant operators, promoting fair competition and a regulated market environment [5]. Group 2: MCN Institutions' Role - MCN institutions are not merely intermediaries; they are responsible for calculating streamer incomes and fulfilling tax withholding obligations, which impacts their sustainability and the overall health of the industry [3]. - As of May 2025, the number of MCN institutions is projected to reach approximately 29,000, an increase of about 2,200 from 2024, indicating rapid growth in the sector [3]. Group 3: Streamer Behavior - Some streamers have developed a misguided belief that they can evade taxes by concealing income, such as receiving payments through private accounts or misrepresenting their tax status [4][5]. - These behaviors not only result in tax revenue loss for the state but also undermine fair market competition, adversely affecting the industry's development [5].

小红书、微博、抖音等平台更像是"公共舆论广场"。相比之 下，微信使用强实名制，用户的身份与手机联系人、亲朋好友 等现实社交圈子紧密绑定，微信好友间是基于现实身份的强关 系模式，这也使得用户对微信账号的安全性提出了更高的要 求。 作者： 陈月芹 9月9日以前，王冉从来没有怀疑过微信的安全性。 这一天，她在小红书上发帖称遇到了"微信离谱事件"：当天7:22，她的微信在没人操作的情况下发出了一条全公开的朋友圈，配文"三天了"，配图是手 机相册里6月份拍摄的一张照片。 而3天前正是2025年中元节。或许是因为提到"微信隐私安全"和"中元节奇幻事件"等标签，这条帖子点赞数超5000，评论接近3000条，部分网友在评论 区晒出自己也遇到过的微信朋友圈"幽灵发帖"经历。 自2011年诞生以来，微信一步步发展成为国民级应用，凭14.11亿的月活用户数和抖音、淘宝等拉开绝对差距。它不仅是一款即时通讯和社交软件，还 覆盖了移动支付、内容阅读、游戏、电商购物等功能。 在高度实名化规则下，一个人的微信账号相当于个人数字身份，用户通过微信进行社交、工作、生活缴费、衣食住行等，几乎没有匿名"隐身"的空间， 一言一行都代表其本人。 经济观 ...

Core Viewpoint - The article discusses a tragic incident at Kanglong Huacheng, a leading CXO (Contract Research Organization) in China, where two laboratory workers died due to asphyxiation caused by improper safety protocols during an experiment [2][3][5]. Group 1: Incident Overview - On June 3, 2025, Kanglong Huacheng experienced a fatal accident resulting in the deaths of two employees, Guo and Jing, due to oxygen deficiency in a laboratory setting [2][3]. - The accident was classified as a general production safety incident caused by non-compliance with safety regulations, specifically the improper use of a flexible isolator that led to a significant drop in oxygen levels [3][5]. Group 2: Accident Details - The two deceased were responsible for temperature recording and equipment adjustments for a crystallization experiment and were working the night shift when the incident occurred [3][4]. - The workers entered a flexible isolator without proper safety measures, leading to their asphyxiation after nitrogen was introduced into the isolator, which reduced the oxygen concentration below the safe threshold of 19.5% [3][4]. Group 3: Investigation Findings - The investigation revealed that the workers did not follow the company's established safety protocols for using the flexible isolator, which contributed to the accident [5]. - The investigation team criticized Kanglong Huacheng for inadequate enforcement of safety regulations and insufficient training for employees regarding safety procedures [5][6]. Group 4: Recommendations and Penalties - The investigation recommended a fine of between 300,000 to 1,000,000 yuan for Kanglong Huacheng and suggested a penalty of 40% of the annual income for the company's CEO, who was deemed responsible for the incident [5][6]. - Additional penalties were recommended for various management personnel involved in safety oversight, suggesting fines of 20% to 50% of their annual income [6].

Core Viewpoint - MCN institutions, as key participants in the platform economy, must fully understand and fulfill their tax obligations to ensure compliance and promote healthy industry development [2][6]. Group 1: Tax Obligations of MCN Institutions - MCN institutions are independent taxpayers and are required to pay value-added tax and corporate income tax on their operating income [2][3]. - MCN companies must fulfill withholding obligations for personal income tax when paying remuneration to streamers, regardless of whether they have signed agency contracts [2][4]. - Non-compliance with tax withholding obligations is considered a violation of the law and will lead to legal consequences [2][4]. Group 2: Recent Tax Violations and Consequences - Recent tax violations by MCN institutions include cases of tax evasion and improper tax benefits, such as the case of Hebei Chuming Cultural Media Co., which evaded taxes amounting to 12.61 million yuan [4][5]. - The tax authorities have imposed penalties totaling 20.10 million yuan on the company for enjoying improper tax benefits and failing to withhold personal income tax [5]. - The case has been referred to the public security authorities for further investigation, highlighting the seriousness of tax violations in the industry [5]. Group 3: Industry Growth and Regulatory Environment - The number of MCN institutions is projected to reach approximately 29,000 by May 2025, reflecting significant growth in the industry [4]. - The rapid development of the platform economy necessitates that MCN institutions operate within a regulated framework to avoid tax-related risks and promote fair competition [6]. - The introduction of regulations aims to ensure that all participants in the online economy, including streamers and MCN institutions, adhere to tax laws and contribute to the economy [6].

对于应如何解决当前网约车市场出现的返空费乱象，广东国鼎 律师事务所的代园星律师在接受采访时指出，最直接有效的方 法是管理部门出台相关的政策法规，禁止收取返空费，并设置 处罚条款。 作者：邹永勤 封图：图虫创意 什么？最高预估价仅约170元，实际要支付的打车费用却多达270元？ 相信很多乘客在使用网约车服务时，都遭遇过这种预估价和实际支付价差异较大的情形。这个时 候，你的第一反应是觉得平台的预估不靠谱，还是觉得司机的行为不靠谱？ 根据深圳市交通运输局发布的数据，2025年上半年，全市共查处网约车营运违章案件556宗，比去 年同期增加了73.21%；乘客有效投诉数量高达53526件，平均每天将近300件。当前网约车市场 的"乱"，由此可见一斑。 而在乘客对网约车乱象的争议中，"故意绕路"和"跨城返空费"被频频提及。经济观察报记者日前就 接到多位乘客爆料，称其在跨城打车时多次遭遇司机私下索要跨城返空费的情形。 途中，林司机向记者诉苦称，由于近两年单价持续走低，司机收入下降，生活压力增加，所以向乘 客索要跨城返空费已经是业内的"潜规则"，十分普遍。对此，记者表示异议，认为从乘客端来看， 这几年打车的单价并不见有下降的 ...

Core Viewpoint - The recent notice from the State Administration of Foreign Exchange (SAFE) represents a significant reform in cross-border capital flow management, enhancing the structure for cross-border payments and the use of the renminbi, thereby supporting the internationalization of the renminbi during the 14th Five-Year Plan period [1][4][10]. Group 1: Policy Changes - The notice aims to improve the convenience of cross-border investment and financing, attract foreign investment, and promote high-quality financial services for the real economy [3][10]. - Key reforms include the cancellation of prior registration requirements for foreign direct investment (FDI) expenses and the facilitation of reinvestment of foreign exchange profits within China [3][4]. - The notice also simplifies the management of cross-border financing for high-tech and specialized small and medium-sized enterprises, raising the financing limit to the equivalent of $10 million, with some enterprises eligible for up to $20 million [4][10]. Group 2: Capital Project Adjustments - Adjustments in capital project income payments include reducing the negative list and removing restrictions on purchasing non-self-use residential properties [4][10]. - The notice allows for a more flexible approach to payment facilitation, enabling banks to set their own post-check ratios and frequencies [4][10]. - Foreign individuals can now settle payments for property purchases in China with just a purchase contract, streamlining the process [4][10]. Group 3: Cross-Border Payment System Development - The notice aligns with the 10th anniversary of the Cross-Border Interbank Payment System (CIPS), which has expanded significantly, processing transactions worth 175 trillion yuan annually with a compound annual growth rate of 43% over the past decade [7][8]. - CIPS now covers 189 countries and regions, processing 4.03 million transactions worth 9.02 trillion yuan in the first half of the year, highlighting its role in supporting the internationalization of the renminbi [8][9]. - The development of a diversified cross-border payment system is emphasized, with increasing use of local currencies and new payment infrastructures emerging [6][11]. Group 4: Strategic Implications - The notice is seen as a pivotal moment in China's financial strategy, aiming to balance development and security while enhancing cross-border investment and financing [10][11]. - Analysts suggest that the reforms may create a rare window for investors to benefit from duration premiums and institutional arbitrage, although caution is advised as these opportunities may diminish once the reforms are fully implemented [11].

Core Viewpoint - Hema's Super Box NB has confirmed the opening of franchise opportunities, prioritizing applicants with existing stores, particularly in the Jiangsu, Zhejiang, and Shanghai regions [1][2][3]. Group 1: Franchise Expansion - Hema's Super Box NB is actively seeking franchisees, with a focus on those who already own retail locations [2][3]. - The franchise application process includes a questionnaire assessing the applicant's city, available commercial properties, and existing supermarket chains [2][3]. - The franchise policy has been under adjustment since June, indicating a strategic shift towards expanding the franchise model [2][3]. Group 2: Market Positioning - The rebranding of Hema NB to Super Box NB signifies its maturity and readiness for rapid expansion, with 17 new stores opened in 10 cities in the Jiangsu, Zhejiang, and Shanghai regions [4][5]. - The Super Box NB stores are strategically located in residential areas, catering to practical family needs for daily meals [4][5]. - The competitive landscape for hard discount supermarkets is intensifying, with major players like JD and Meituan entering the market [5]. Group 3: Business Model and Strategy - The hard discount supermarket model relies on low prices and high volume sales, with Super Box NB offering significantly reduced prices on various products [5]. - The operational strategy includes a streamlined SKU selection, efficient supply chains, and a high proportion of private label products to maximize profit margins [5]. - The franchise model is expected to accelerate store openings and enhance market penetration amid increasing competition from internet giants [5][6].

Core Viewpoint - The lawsuit involving Changcheng Securities is a historical issue from over 20 years ago, focusing on the confirmation of shareholder identity due to the company's operational suspension and revocation of its business license, making the valuation of its equity uncertain [1][5]. Group 1: Lawsuit Details - On September 16, Changcheng Securities announced a court hearing for a "shareholder qualification confirmation dispute" against Shenzhen Sanjiu Weitai Co., Ltd., with a hearing scheduled for November 7 [2]. - Changcheng Securities is seeking confirmation of its ownership of 900,000 shares in Sanjiu Weitai and requests the issuance of share certificates and registration in the shareholder registry [2]. Group 2: Background of Sanjiu Weitai - Sanjiu Weitai Co., established in 1993, was a chemical pharmaceutical raw material manufacturer that had its business license revoked in 2022 and is now considered a "zombie enterprise" [4]. - The company was once part of the well-known "999" brand, which has since been absorbed by China Resources Group during a restructuring process due to financial difficulties [10][11]. Group 3: Historical Context and Financial Implications - In 2008 and 2009, Changcheng Securities attempted to sell shares in 12 companies, including the 900,000 shares of Sanjiu Weitai, with the initial listing price dropping from 30,285,700 yuan to 24,228,600 yuan [7]. - The ongoing legal actions are part of a broader effort to resolve historical issues related to equity ownership, which arose during the transfer of shares by original shareholders between 2000 and 2008 [8]. Group 4: Legal and Financial Strategy - Legal experts suggest that the lawsuit serves multiple purposes: confirming shareholder identity, facilitating the appointment of a liquidation team, and ensuring rights to any remaining assets post-liquidation [8]. - For Changcheng Securities, which has total assets exceeding 100 billion yuan, resolving these historical equity issues is more about clarifying asset ownership than financial gain from the "zombie enterprise" [9].

9月15日，上海多所学校午餐中的虾仁炒蛋被紧急撤换，补发饼干和面包替代。午餐供应商上海绿 捷实业发展有限公司回应称是因为虾仁里有细沙，但学生家长表示，孩子反馈这道菜有臭味。 家长们不认为这是一起偶然事件，长期以来他们对校园餐不满意： 菜品质量差、油炸食品过多、 孩子吃不饱、吃不好。 他们向12345和市教育局反馈过问题，却没有得到很好的解决。罗永浩吐槽 西贝"贵且难吃"，上海家长们却说：让西贝来竞标校园餐吧。 虽说众口难调，但当很多家长反馈同样的问题，他们的诉求应当被重视；此次虾仁炒蛋撤换事 件 背后真相究竟如何，相关部门也应该有实实在在的回应。 校 园餐必须经得起审视，因为它关系到 孩子健康成长的切身利益，并且涉及面非常之广。 中 国目 前中小学和幼儿园数量超过46万所，涉 及学生超过2.37亿人，校园配餐不是一件小事。 上海家长对校园餐品质的争议并不是个例，这些年，校园食品安全事件时有发生。 对此，国家市 场监管总局今年7月发布了《校园配餐服务企业管理指南》，将于12月1日起执行。这是关于校园 配餐服务管理的首个国家标准，从人员配置、原料 采购 、制作运输、召回程序等多个方面树规立 范，被认为是保障校园餐 ...