多年前，阿布扎比更依赖从外部直接购买技术服务，但随着经 济多元化战略的推进，政府部门意识到科技自主研发能力的重 要性。在一些关键技术上，除了从外部购买，更需要"自力更 生"，开发自有技术。 作者： 田进 封图：图虫创意 9月中旬，在阿联酋经济与旅游部组织的官方访华活动期间，阿布扎比商会总干事阿里·穆罕默德·阿勒·马尔祖基（下称"马尔祖基"）带领多家当地企 业奔赴北京，重点关注人工智能（AI）与智能机器人领域。 谈及此次行程，马尔祖基说，阿布扎比已成为中东和北非地区发展最快的人工智能中心。而在人工智能、金融科技等领域，中国拥有世界一流水平。商 会希望促进双方私营部门间的联系，将合作潜力转化为切实可行的盈利项目。 近几年，作为阿联酋的首都，阿布扎比在AI领域投入重资。今年年初，阿布扎比政府发布的《2025—2027年政府数字化战略》，明确提出计划投入 130亿迪拉姆（约合253亿元人民币）推动人工智能在政府服务中的应用，目标是打造全球领先的人工智能驱动型政府，进一步拉动经济增长。 9月底，面对经济观察报等中国媒体组成的媒体团到访阿布扎比，在与当地经济发展部门、环境署、科技发展部门及商业协会等机构的交流中，AI成为 ...

Core Viewpoint - SF Express is enhancing its core competitiveness in logistics through capacity expansion and network optimization while achieving significant breakthroughs in ESG value construction, thereby strengthening its long-term development moat [1][14]. Financial Performance - In September, SF Express reported a total revenue of 27.007 billion yuan, representing a year-on-year increase of 8.78% [2]. - The express logistics segment generated revenue of 20.854 billion yuan, up 14.21% year-on-year, with a business volume of 1.504 billion shipments, reflecting a growth of 31.81% [2]. - The average revenue per shipment was 13.87 yuan, while the supply chain and international business contributed 6.153 billion yuan in revenue [2]. Service Expansion and Innovation - SF Express has been actively enhancing its logistics services for seasonal products, such as the hairy crab, by establishing temporary collection points and deploying specialized service teams, along with smart logistics technologies like unmanned vehicles and drones [5][6]. - The company launched its first intelligent transfer center for hairy crabs in Suzhou, featuring an automated sorting system capable of processing over 20,000 items per hour and exceeding 400,000 items daily [6]. Market Development Strategies - SF Express is integrating logistics with branding and traffic, improving packaging to reflect local cultural characteristics while enhancing freshness [8]. - The company is also collaborating with e-commerce platforms to provide comprehensive logistics services, facilitating the distribution of hairy crabs to a broader consumer base [8]. - In Hong Kong, SF Express has tailored its services to meet local demand, offering seamless delivery from the lake area to Shenzhen pickup points [8]. International Expansion - SF Express is expanding its international logistics network, recently launching a new cargo route from Ezhou to Chicago, enhancing its North American service capabilities [10]. - The company’s air cargo fleet has grown to 90 aircraft, covering domestic and international markets, thereby supporting the dual circulation development pattern in China [12]. ESG Performance - SF Express has achieved a significant upgrade in its ESG rating from MSCI, moving from "BBB" to "A," making it the first logistics company in China to receive this rating [15]. - This recognition underscores the company's strong performance in environmental, social, and governance aspects, which is increasingly important for brand credibility and long-term operational risk reduction [15].

Core Viewpoint - The article highlights the significant impact of Yang Zhenning's achievements, particularly his Nobel Prize in Physics in 1957, on Chinese science and society, inspiring generations of scientists and enhancing national confidence in scientific capabilities [17][18]. Group 1: Yang Zhenning's Life and Achievements - Yang Zhenning, a renowned physicist and Nobel laureate, passed away on October 18, 2025, at the age of 103 [4]. - The documentary "Yang Zhenning: A Century of Scientific Journey" premiered in January 2024, showcasing rare historical materials and contributions from top Chinese scientists [5][6]. - Yang Zhenning was born in 1922 in Hefei, Anhui, and received his education at Southwest Associated University and later studied under prominent physicists in the United States [6][10]. - He and Li Zhengdao were awarded the Nobel Prize in Physics in 1957 for their work on parity violation, making them the youngest Nobel laureates at that time [12][17]. Group 2: Influence on Chinese Science - Yang Zhenning's achievements have been described as a turning point for Chinese scientists, instilling a sense of pride and capability in scientific research [17][18]. - His contributions helped change the perception of Chinese scientists on the global stage, encouraging future generations to pursue scientific excellence [18]. - Yang Zhenning emphasized the importance of basic research in China, influencing government policies and funding in the field [21]. Group 3: Personal Reflections and Legacy - Yang Zhenning's personal experiences, including his return to China after years abroad, reflect his deep connection to his homeland and commitment to advancing Chinese science [20][22]. - He was known for his mentorship and support of younger scientists, fostering a collaborative spirit within the scientific community [18][22]. - Yang Zhenning's legacy includes not only his scientific contributions but also his role in inspiring confidence among Chinese scientists and promoting international collaboration [18][22].

Core Viewpoint - The article discusses the strategic decision of Shenzhen Textile (Group) Co., Ltd. to invest in a new production line for polarizing films, despite a challenging market environment, and raises questions about the purchase of second-hand equipment from Hengmei Optoelectronics [2][6][12]. Group 1: Investment in New Production Line - Shenzhen Textile's subsidiary, Shengbo Optoelectronics, plans to build a new production line with a width of 1.49 meters and an estimated capacity of 18 million square meters per year for LCD and OLED polarizing films, with a total investment of approximately 1.334 billion yuan [2][8]. - The decision to invest in the new line comes despite a reported decline in the performance of polarizing film companies, with Shengbo Optoelectronics experiencing a 19.73% drop in revenue [6][8]. - The new production line is specifically targeted at the OLED market, which is expected to have higher profit margins compared to LCD products, indicating a strategic shift towards high-end applications [6][8]. Group 2: Equipment Purchase Concerns - Shengbo Optoelectronics intends to purchase second-hand front-end equipment from Hengmei Optoelectronics for approximately 179 million yuan, raising questions about the quality and necessity of buying used equipment that has been idle for four years [2][10][11]. - The equipment in question was previously owned by Jiangsu Haiwei Optoelectronics and has not been used since its purchase in 2021, leading to skepticism about its condition and the rationale behind the purchase [9][10]. - The decision to buy only part of the equipment, specifically the front-end machines, rather than the entire set, has also been questioned, as the new production line will require additional machinery [10][11]. Group 3: Relationship Between Companies - Hengmei Optoelectronics, which holds a 40% stake in Shengbo Optoelectronics, is both a competitor and a partner, complicating the dynamics between the two companies [12][13]. - The relationship has evolved over time, with both companies collaborating on technology and production line projects, although there have been failed attempts at mergers [13][14]. - The ongoing collaboration and competition between the two firms may influence future strategic decisions, including potential restructuring efforts [14].

Core Viewpoint - Xiaomi's rise and fall signifies a critical juncture not only for the company but also serves as a warning for the upgrade of Chinese industries [1][32] Financial Performance - In Q2 2025, Xiaomi's revenue reached 116 billion yuan, marking three consecutive quarters of over 100 billion yuan, with an adjusted net profit of 10.8 billion yuan, a year-on-year increase of 75.4% [2] - The smartphone shipment volume was 42.4 million units, achieving year-on-year growth for eight consecutive quarters, maintaining a position among the top three globally for five years [2] Trust Crisis - Despite strong financial results, Xiaomi faces an unprecedented trust crisis, with over 1,610 complaints regarding the Xiaomi SU7 on third-party platforms and a repair rate increase of 12.8% over three years [2][3] - A serious accident involving the Xiaomi SU7 raised concerns about the vehicle's safety features, particularly the inability to open the doors during emergencies [2][12] Business Model Challenges - Xiaomi's strategy of "high-level imitation + low-price suppression" has come under scrutiny, particularly in the automotive sector where quality and safety are paramount [4][5] - The company has been criticized for sacrificing R&D investment, employee welfare, and product quality in pursuit of cost leadership, which may stifle innovation across the industry [7] Imitation and Innovation Issues - Xiaomi's reliance on imitation has led to numerous patent disputes, with accusations of copying designs from established brands, particularly in the automotive sector [8][9] - The company's innovations are often seen as superficial, lacking in core technological breakthroughs, which could hinder long-term competitiveness [10] Marketing and Product Quality - Xiaomi's marketing strategy has emphasized aesthetics over substance, leading to a disconnect between consumer expectations and actual product performance, especially in the automotive sector [11][12] - The focus on flashy marketing and parameters has resulted in safety concerns, as seen in the SU7's design flaws that prioritize appearance over functionality [12][13] Supply Chain and Ecosystem Issues - Xiaomi's investment strategy has been criticized for prioritizing financial returns over technological innovation, leading to a reliance on a closed ecosystem that may inhibit breakthrough developments [18][19] - The phenomenon of "de-Xiaomi-ization" is emerging among ecosystem partners seeking greater autonomy and profitability, indicating potential conflicts within Xiaomi's supply chain [20] Strategic Reflection and Future Directions - As Xiaomi reaches its 15th anniversary, it must reassess its strategic path, moving from a focus on cost advantages to prioritizing technological innovation and product quality [22][25] - The company plans to invest 200 billion yuan in R&D over the next five years, aiming to shift public perception from being a mere "assembly factory" to a technology-driven entity [25][26] Conclusion - Xiaomi's recent challenges may serve as a turning point for the Chinese electric vehicle market, emphasizing the need for genuine product quality over marketing hype [32] - The evolution of consumer expectations and media scrutiny may foster a healthier business environment that encourages innovation and accountability within the industry [32]

Core Viewpoint - The article discusses the strategic moves of 加科思 (Gakosi) in the biopharmaceutical sector, particularly focusing on its divestment of a cardiovascular project to 海松资本 (Haisong Capital) and the subsequent reinvestment into its core oncology pipeline, especially the development of a Pan-KRAS inhibitor [2][4][9]. Group 1: Transaction Details - 加科思 announced a capital increase and equity transfer involving a cardiovascular treatment project, previously held by its subsidiary 加科瑞康 (Gakosi Ruikang), to 海松资本, which will acquire 80% of the subsidiary [2][4]. - The transaction includes an initial payment of 125 million yuan and a milestone payment of 75 million yuan, totaling 200 million yuan, which will be used for the development, production, and commercialization of its core oncology pipeline [2][3][4]. Group 2: Strategic Focus - Following the divestment of non-core assets, 加科思 aims to concentrate on the oncology field, enhancing its cash flow and retaining a 10% stake in 加科瑞康 for potential future benefits [4][6]. - The company has a strong focus on the Pan-KRAS inhibitor, which is a significant target in its pipeline, as KRAS mutations are linked to a high percentage of cancer cases [11][13]. Group 3: Clinical Development Plans - 海松资本 plans to leverage China's clinical advantages to expedite the development of the pipeline, with intentions to submit an IND application in the first half of next year, aiming to enter clinical trials [7][9]. - The Pan-KRAS inhibitor is currently undergoing I/IIa phase clinical trials in China and the U.S., with results expected to be announced in mid-2026 [14][15]. Group 4: Market Context - The article highlights the competitive landscape for Pan-KRAS inhibitors, noting that other companies like Pfizer and BeiGene are also advancing similar projects in clinical stages [15]. - 加科思's leadership emphasizes the potential of iADC (immune-stimulating antibody-drug conjugates) as a high-risk but high-reward area, indicating a broader strategy in innovative cancer therapies [15].

随着这一纸公告落地，这家成立27年的老牌公募正式告别"江 向阳时代"，未来的发展航向交到张东的手中。 作者： 陈姗 封图：图虫创意 博时基金正式迎来新一轮掌舵人交替。 10月15日晚间，博时基金发布高级管理人员变更公告，张东出任公司董事长暨法定代表人，并自即日起代为履行总经理职务，期限不超过6个月。与 此同时，原董事长江向阳因工作变动原因辞任。 随着这一纸公告落地，这家成立27年的老牌公募正式告别"江向阳时代"，未来的发展航向交到张东的手中。业内正密切关注，这位来自招商系的财富 管理老将将如何带领博时基金开启新一轮战略布局。 十年掌舵落幕 江向阳早期曾在中国证监会的多个部门担任要职，其于2015年7月开始担任博时基金总经理，2020年4月就任该公司董事长，执掌博时基金超过十 年。 记者从业内了解到，江向阳已赴招商局集团旗下全资子公司招商局融资租赁有限公司开展工作，担任党委书记。 如何落子公募新棋局 博时基金成立于1998年7月，是中国内地首批成立的五家基金管理公司之一。目前，其共有六家股东，分别为招商证券股份有限公司、中国长城资产 管理股份有限公司、上海汇华实业有限公司、天津港（集团）有限公司、上海盛业股权投 ...

位于河北张家口蔚县的麻田岭，是户外徒步的网红之地。国庆假期，这里游客激增，山区垃圾遍野、触目惊心。经过乡村干部、环卫工人和社会志愿 者"手捡背运"式的净山行动，到10月12日才把堆积的垃圾清理完毕。 在福建漳州，尚未开发的无居民海岛——南碇岛，也出现了垃圾天坑。在社交平台的"种草"下违规登岛的游客激增，环保意识又不足，导致垃圾堆 积。 "野线"并不是原罪。我们要做的，是引导户外理念走向成熟， 引导户外活动走向规范。这需要政府相关部门转化观念，变堵 为疏，在约束和开放之间找到平衡。 作者： 言咏 小红书上一位博主在完成深圳七娘山至大雁顶穿越后分享了她的教训，其中最值得警示的是盲目随性。她行前都不知道"七（七娘山）大（大雁顶）穿 越"是什么，以为是七个难度比较大的穿越路线，更别提对爬升、路况、参考用时的了解了。到达七娘山顶后，以为两个山头之间可以散步过去，临时 起意决定继续前行，途中遇雨，手机充电口进水，眼看着电量一点点耗尽。她万幸地安全下山了，但她犯的错误很典型，这类行为是现在山野安全事故 频发的主要原因。 每次负面事件曝光后，总有人批评说不应该进入非规划的景区。我倒是认为，"野线"并不是原罪。我们要做的，是引 ...

Core Viewpoint - The article discusses the challenges and experiences of individuals applying for consumer loan interest subsidies, highlighting the importance of loan interest rates and the successful application of subsidies [2][3][4]. Group 1: Application Process and Challenges - Applicants generally find it easy to apply for loan interest subsidies, but the key concern is obtaining loans at low interest rates and ensuring the subsidies are successfully applied [2][3]. - The experience of a consumer, Ms. Huang, illustrates the confusion surrounding the subsidy process, particularly regarding early repayments and the lack of immediate feedback on subsidy status [3][4]. - Banks require that the loan funds be used for genuine consumption, and the identification of such transactions is crucial for subsidy approval [4][12]. Group 2: Interest Rates and Loan Types - The interest rates for consumer loans from state-owned banks are generally lower than those from joint-stock commercial banks, with many applicants securing loans at around 3.0% [14][15]. - The article notes that the maximum subsidy rate is 1% per annum, applicable to loans used for specific consumption categories, with a cap on total subsidies [6][8]. Group 3: Successful Subsidy Claims - Successful subsidy claims depend on the proper use of loan funds and the identification of transactions as genuine consumption, with some applicants successfully receiving subsidies after meeting these criteria [10][11]. - The article provides examples of individuals who successfully received subsidies, emphasizing the importance of using company accounts or verified payment methods for transactions [10][11]. Group 4: Variations in Bank Policies - Different banks have varying policies regarding the application and approval of subsidies, with some requiring additional documentation or specific account types to facilitate the process [12][16]. - The article highlights the experiences of individuals who faced challenges in securing loans from joint-stock banks, often due to stricter eligibility criteria compared to state-owned banks [15][16].

它不再简单地对标iPhone，而是要开创一个全新的品类—— AI Phone。 作者： 陈今 封图：图片资料室 当荣耀 CEO李健在2025年10月15日荣耀Magic8系列发布会的尾声，以一句经典的"One More Thing"揭晓一款名为"Robot Phone"（机器人手 机）的颠覆性概念产品时，台下的惊叹声与线上直播间刷屏的问号，汇成了一个共同的感慨： "这还是我认识的那个荣耀吗？"。 曾几何时，荣耀给市场的印象是一位在惊涛骇浪中奋力 "求生存"的坚韧斗士，在参数、配置与性价比的红海中，凭借扎实的基本功稳住阵脚。然而， 自2025年1月，李健走马上任CEO以来，这艘航船正以一种近乎决绝的姿态，猛然调转船头， 驶向一片名为"全球领先的AI终端生态"的未知蓝海 。 Magic8系列，便是这场变革宣言的第一个实体样本。它不再简单地对标iPhone，而是要开创一个全新的品类——AI Phone。它不仅是一部更智能的 手机，能娴熟地帮用户比价、抢票、修图，更被赋予了一种"生命感"—— 一个能够在使用中不断学习、与用户共同成长的智能伙伴 。 而那惊鸿一瞥的 Robot Phone，则预示着荣耀的野心远不止于此， ...