图片来源：视觉中国 "618购物季"电商平台激战正酣，多地消费者却意外遭遇"国补"暂停申领的局面，也引发了政策提前终 止的猜测。不过，近日官方消息已证实，消费品以旧换新加力扩围政策没有变化，补贴资金使用进度符 合预期，第三、四季度中央资金将陆续下达。 消费品以旧换新补贴即去年以来就持续受到关注的"国补"政策。延续去年经验做法，国家发展改革委、 财政部、商务部等相关部门今年直接向地方安排3000亿元国债资金，加力扩围实施消费品以旧换新，在 今年年度内全年实施——今年1月和4月已分别下达两批共计1620亿元中央资金，支持地方做好一、二季 度消费品以旧换新工作；后续还将有1380亿元中央资金在三、四季度分批有序下达。 "目前全国消费品以旧换新补贴资金使用大致占到全年规模50%左右，整体进度符合预期。"6月20日新 华社报道援引国家发展改革委有关负责人称，"国补"资金包括三个部分：一是中央下达的超长期特别国 债资金，规模比去年翻了一番；二是按照有关规定，地方在中央下达资金基础上按比例配套，按照总体 9:1的原则实行央地共担；三是一些地方还将结合当地工作进度和实施情况，在中央下达以及按比例配 套资金以外，再额外安排地方 ...

Core Viewpoint - The article discusses the expansion of Pop Mart's independent jewelry brand POPOP, highlighting its strategic focus on globalization and diversification of product offerings, particularly through leveraging popular IPs like LABUBU [1][3][4]. Group 1: Brand Expansion and Strategy - POPOP opened its first global store in Shanghai and a second store in Beijing, featuring products from various popular IPs under Pop Mart [1]. - The founder and CEO, Wang Ning, emphasized the importance of jewelry as a significant category for the company's growth and diversification efforts [2][4]. - Pop Mart's strategy includes increasing overseas revenue and expanding its business around IPs, with overseas revenue reaching 1.066 billion yuan in 2023, accounting for 16.9% of total revenue, and projected to grow to 5.07 billion yuan in 2024, representing a 375.2% increase [3]. Group 2: Market Performance and Consumer Behavior - The launch of the POPOP brand is seen as a move towards a more diversified business model, with the potential for high profitability compared to licensing IPs to other brands [6]. - The popularity of LABUBU has significantly influenced consumer purchasing behavior, with 83% of surveyed respondents considering buying products associated with LABUBU [7]. - The high demand for LABUBU products has led to market disruptions, including incidents of scalping and stock shortages, which have raised concerns about consumer experience and brand reputation [7][8]. Group 3: Financial Performance and Market Sentiment - Despite a significant increase in stock price over the past year, recent market reactions have shown caution, with a 6.04% drop in stock price on June 17, resulting in a market value loss of approximately 22.3 billion HKD [8]. - The company's stock has seen a cumulative increase of over 200% in the past year, but there are growing concerns about whether the stock price has outpaced the company's growth potential [8]. - The company has initiated measures to improve consumer access to LABUBU products, including online pre-sales to mitigate the impact of scalping [11].

Core Insights - The article discusses the Southeast Asia 500 list by Fortune, which ranks the largest companies in the region based on revenue, covering seven economies: Indonesia, Thailand, Malaysia, Cambodia, Vietnam, the Philippines, and Singapore [1] Group 1: Economic Overview - Indonesia has the largest representation on the list with 109 companies, accounting for over one-fifth of the total ranking [2] - Thailand ranks second with 100 companies, being the second-largest economy in the region [2] - Singapore, despite having the highest GDP per capita, ranks in the middle with 81 companies on the list [3] Group 2: Revenue Insights - Singapore's companies generated a total revenue of $637 billion, which is approximately one-third of the total revenue of $1.8 trillion for the entire list [5] - The revenue figures for the top countries are as follows: - Indonesia: 109 companies, total revenue of $321.8 billion [6] - Thailand: 100 companies, total revenue of $352.6 billion [6] - Malaysia: 92 companies, total revenue of $201.6 billion [6] - Singapore: 81 companies, total revenue of $637.1 billion [6] - Vietnam: 76 companies, total revenue of $161 billion [6] - Philippines: 40 companies, total revenue of $141.3 billion [6] - Cambodia: 2 companies, total revenue of $1.4 billion [6] Group 3: Notable Companies - The top company in Singapore is Trafigura Group, a commodity trading firm with a revenue of $243.2 billion in 2024, significantly surpassing other companies on the list [9] - Other notable companies include Wilmar International and Olam Group, both involved in the agricultural sector, with revenues of $67.4 billion and $42 billion respectively [10] - Singapore's three major banks—DBS, OCBC, and UOB—are recognized as the most profitable companies in the region [7]

Core Viewpoint - Amazon's CEO Andy Jassy anticipates a reduction in the company's workforce in the coming years as the company increasingly utilizes AI technology to handle more tasks [1][2]. Group 1: Impact of AI on Workforce - Jassy expressed that generative AI and AI-driven software agents will inevitably change the way work is conducted, leading to a decrease in the number of employees needed for certain existing jobs while increasing the need for other types of work [2]. - The company expects that the widespread application of AI will result in an overall decline in employee numbers, although the long-term net effect remains uncertain [2][5]. - Concerns about AI replacing human workers have been prevalent since the rise of AI technology, with companies like Shopify and Duolingo already taking steps to limit human roles in favor of AI [2]. Group 2: Amazon's AI Investments - Amazon has been investing heavily in AI, particularly in logistics and headquarters roles, with projects including Alexa, shopping assistants, and tools sold through Amazon Web Services [3]. - Internally, AI tools are being utilized for inventory management, customer service, and product listings, with Jassy encouraging employees to experiment with AI as much as possible [4]. Group 3: Employment Statistics - As of March 2023, Amazon is the second-largest private employer in the U.S. after Walmart, with a total of 1.56 million employees, the majority of whom work in warehouses, while approximately 350,000 are involved in corporate roles [5].

Core Insights - The article highlights the emerging opportunities in Southeast Asia, driven by global supply chain changes and the growth of industries such as mining, electric vehicles, and artificial intelligence, despite potential setbacks from U.S. tariff policies [1] Group 1: Economic Overview - The total revenue of the companies listed in the Southeast Asia 500 reached $1.82 trillion, reflecting a 1.7% increase from the previous year, which lags behind the reported 4.1% GDP growth of the seven economies covered [1] - Indonesia has the highest number of companies on the list (109), followed by Thailand with 100 companies, while Singapore leads in revenue generation with $637.1 billion, accounting for slightly over one-third of the region's total revenue [1] Group 2: Industry Leaders - The top five companies in the Southeast Asia 500 are all involved in commodity businesses, including Trafigura (metals), PTT (oil), Pertamina (oil), Wilmar International (agriculture), and Olam Group (agriculture) [2] - The energy sector dominates the Southeast Asia 500, contributing nearly one-third of the total regional revenue, with notable growth from Bangchak, a Thai energy company, which saw a 47% increase in revenue [2] Group 3: Profitability and Technology - The most profitable companies in the list are Singapore's three major banks: DBS, OCBC, and UOB, with DBS leading at $8.5 billion in profit [3] - Despite predictions of growth in the digital economy, technology companies have a small representation in the Southeast Asia 500, with only one tech company, Sea, in the top 20 [3] Group 4: Emerging Trends - NationGate Holdings, a Malaysian contract manufacturer, experienced a remarkable 723% increase in sales, surpassing $1 billion, largely due to its role as the sole assembler of AI servers for Nvidia in the region [4] - Southeast Asia's 500 companies are increasingly playing a significant role in the global supply chain, attracting substantial capital inflows and reshaping global trade dynamics [5]

孤独对健康的影响有多严重？图片来源：Getty Images 在这项最新研究中，研究人员分析了来自加拿大、芬兰和新西兰的超过38万名65岁及以上居家护理对象 的数据。研究作者写道："居家护理对象是一个特别值得关注的重要群体，因为他们可能特别容易受到 孤独感的负面影响。行动不便、感官障碍和复杂的健康需求可能会限制他们参与社区活动，使他们在家 中相对孤立。" 然而，研究人员发现，在调整健康状况、年龄和其他风险因素后，有孤独感的人群一年内的死亡风险反 而低于不感到孤独的人群。 就在两年前，孤独被正式认定为一种公共健康流行病，时任美国卫生局局长维韦克·穆尔蒂援引的研究 显示，孤独感与心脏病、抑郁、认知能力下降、痴呆症以及过早死亡风险增加之间存在关联。 但如今，新的研究结果可能对此提出挑战——特别是关于过早死亡风险的关联。关于两者的关联源于一 系列研究，包括2015年一项荟萃分析和2018年的另一项研究。 由滑铁卢大学（University of Waterloo）公共卫生科学学院研究人员牵头、发表在《美国医学主任协会 杂志》（Journal of the American Medical Directors Asso ...

资金外流持续不断。受看跌信念和战术性对冲驱动，空头正以前所未有的规模大举集结。同时，杠杆型 交易所交易基金这类蓬勃发展、对散户友好的产品，正在与伍德押注知名科技股的高信念投资策略展开 竞争。 图片来源：Joe Raedle/Getty Images 凯茜·伍德旗下的旗舰交易所交易基金（ETF）已从贸易战恐慌的深渊中强劲反弹，自四月初以来涨幅 超过50%。然而，此番反弹非但未能恢复投资者的信心，反而招致了普遍的怀疑。 结果便是：曾在疫情期间引领颠覆性科技浪潮的ARK创新ETF，如今虽有业绩表现，却未能提振市场信 心。 金融分析公司S3 Partners的数据显示，ARKK的空头仓位已攀升至约37%流通股的创纪录水平——甚至 超过了疫情期间的峰值。仅在六月份，看跌交易者就因此承受了超过3亿美元的按市值计价浮亏。而周 一该基金4.4%的大涨理论上又令其浮亏账单增加了约9,300万美元。 Strategas高级ETF策略师托德·索恩表示："伍德的基金确实经历了辉煌的上涨行情，但我怀疑在2020年 和2021年蜂拥而入的投资者是否仍对当初的狂热追捧和随后的暴跌心有余悸。" 他在一份报告中写道，伍德当初声名鹊起，是因为她 ...

图片来源：Anna Moneymaker—Getty Images 美国国防部告诉国会审计人员，"持续存在的设计问题、返工修改以及劳动力挑战拖延了两架波音747-8 飞机改装为总统专机的进度"，上周三发布的一份报告称。 2018年唐纳德·特朗普总统任内，美国与波音公司签署了一份价值39亿美元的合同，要求设计、改装并 测试两架飞机，2024年之前作为"空军一号"使用，然而持续延误下该项目已超出原定的交付日期。 美国政府问责局表示，由于减压和环境控制系统设计方面的问题，再加上波音未完成认证计划和飞机设 计，项目进展停滞不前，测试时间表也推迟。此外，波音一直未能确保该项目劳动力稳定。 "根据VC-25B项目官员的说法，由于市场状况持续低迷，波音在招聘和留住合格技师方面仍面临挑 战，"报告称，"项目官员表示，技师安全许可的审批率仍然是劳动力的主要限制因素。" 去年秋天，尽管整个行业都面临人才短缺，波音仍宣布计划裁员10%。 波音努力解决进度困境的同时，2月特朗普威胁要为VC-25B项目寻找替代方案，转而从卡塔尔采购了一 架价值4亿美元的波音747。这架获赠的卡塔尔飞机不仅引发了伦理和安全方面的担忧，而且飞机升级 到" ...

Core Viewpoint - The article highlights the growth and potential of the pet food industry in China, emphasizing the importance of scientific formulation and emotional health for pets as key trends driving consumer behavior and market dynamics [6][7][9]. Group 1: Entrepreneurial Journey - The founder of the pet food brand, Aifabai'ao, has a unique background, being part of the Charoen Pokphand Group, which has a significant global revenue of $102.2 billion in 2024 [3]. - The founder's education in Switzerland and the United States has shaped her understanding of the pet food industry, aiming to use science to enhance the health relationship between humans and pets [5][11]. Group 2: Market Trends - The pet economy in China is projected to exceed 300 billion yuan in 2024, with a year-on-year growth of 7.5%, and is expected to surpass 400 billion yuan by 2027 [7]. - Pet food accounts for 52.8% of the total pet consumption market in 2024, with a steady increase in staple and nutritional products, while snacks show a slight decline [8]. - Young consumers are driving the market, showing a preference for high-quality, personalized pet products, and are increasingly concerned about ingredient transparency [9]. Group 3: Industry Challenges - The pet food industry faces several challenges, including the use of inferior ingredients, lack of clinical testing, and consumer education deficits [10][13]. - There is a growing need for awareness regarding pet emotional health, as negative emotions can lead to serious health issues in pets [14]. Group 4: Strategic Approach - Aifabai'ao aims to address the emotional health of pets through natural ingredients and scientific methods, emphasizing the importance of emotional well-being as part of pet care [14][15]. - The company collaborates with veterinary professionals to create educational content and visual aids to raise consumer awareness about the importance of pet emotional health [15]. Group 5: Family Business Wisdom - The founder has learned three core business principles from her family: integrity in product quality, a win-win mindset for industry growth, and adaptability to market changes [17][18]. - The company focuses on product, channel, and marketing synergy as the core of competition in the pet food market [19]. Group 6: Product Innovation - Aifabai'ao has developed innovative products, including freeze-dried fish meat snacks that retain nutritional value and are scientifically validated for effectiveness [21]. - The company emphasizes transparency in its supply chain to build consumer trust and ensure product quality [21][22].

Core Viewpoint - The article discusses the paradox of "sovereign AI," highlighting that countries aiming for independence in AI technology are increasingly dependent on major powers for essential components like chips and software [1][2][3]. Group 1: Sovereign AI Investments - The UAE announced a $20 billion investment in OpenAI's "UAE Stargate" project, which aims to create a "sovereign AI" but relies entirely on American technology [1]. - Countries like France and India are also investing heavily in their own AI models, such as France's Mistral and India's BharatGPT, yet they remain dependent on global technology [1][2]. Group 2: AI Infrastructure and Dependencies - The most challenging aspect of AI model development is the model weights, which are updated more frequently than policy cycles, indicating a reliance on foreign infrastructure for AI deployment [2][3]. - France's Mistral model was initially seen as a breakthrough for European sovereign AI but was quickly surpassed by more efficient Chinese open-source models, demonstrating the deep interdependence in technology [2][3]. Group 3: Digital Colonialism - The article argues that a new form of "digital colonialism" is emerging, where countries are structurally bound to major powers through dependencies in AI technology, despite having control over model weights [3][4]. - Countries may run their models locally, but they still rely on American hardware, software, and intermediary technologies, masking the complex web of dependencies [3][4]. Group 4: Strategic Infrastructure Investment - To achieve true autonomy in AI, countries need to invest in local data capabilities, security systems, and open-source technologies rather than just developing large models [4][5]. - The article emphasizes that a vibrant AI industry depends on local tools, standards, and infrastructure, which only the US and China have successfully developed so far [4][5]. Group 5: The Illusion of Sovereign AI - The pursuit of "sovereign AI" reflects a misunderstanding of modern technology's nature, as AI relies on global flows of data, chips, software, and talent [4][5]. - Countries face a choice between spending large sums for a false sense of security or investing in strategic infrastructure to reduce foreign dependency [5].