8月14日，2025博鳌物业暨城市服务大会在海南召开。资深物业人李长江以"物业服务变化与好服务的价 值"为主题发表演讲。 面对行业的现状，物业公司的市场机会在哪里？ "上市的物企，他们极其关注成本，因为成本的高低，决定了利润的多少。而非上市的物企也不想上市 了，但是他也希望现在管的项目不掉。"李长江表示，当前物企的生存现状分化明显，上市企业紧盯成 本以保利润，非上市企业则力求稳住现有项目。但无论规模与属性，转型为创业型物企或许是破局关 键。这类企业的机会在于突破传统模式，用创新服务构建让客户真正认可的商业模式与盈利逻辑。 新业委会上任时，是否敢在认可服务的前提下提出涨价？李长江提到，现实是，物业费收缴仍依赖人情 维系，若片区经理与业主关系好，发信息提醒就能收到费用，甚至能促成预缴。但多数物业人陷入"催 费时间多于服务时间"的困境，越是催费越引发不满，越是不满越难收费，最终激化矛盾催生新的业委 会和新物业，陷入恶性循环。其实业主若能主动缴费，物业便能腾出更多精力提升服务，形成良性互 动。 他表示，物业公司的循环替换似乎成了行业怪圈，这家退出后接盘的新项目，往往是别家放弃的"旧 爱"。近年来，多地小区陷入"换业委 ...

Core Insights - The Southeast Asian market has become saturated, with no significant arbitrage opportunities remaining for new entrants [1][2] - Successful entrepreneurship in Southeast Asia requires a deep understanding of local culture and evolving consumer demands [9][44] Market Dynamics - Various industries, including e-commerce, food and beverage, and technology, are seeing increased competition as many companies enter the market [3][4] - The introduction of new technologies, such as 5G in Vietnam, is driving demand for smart home devices [7] Consumer Preferences - Local cultural factors significantly influence consumer behavior, such as preferences for specific flavors in e-cigarettes and cosmetics tailored to religious practices [10][11] - The popularity of Japanese cuisine over Korean food in Southeast Asia highlights the importance of cultural trends [12] Entrepreneurial Strategies - Successful entrepreneurs often take a hands-on approach, actively engaging in business operations rather than delegating responsibilities [14][15] - Avoiding overextension into multiple sectors is crucial; focusing on a single industry or market can lead to better outcomes [21][22] Market Entry Considerations - New entrants should aim for average market performance rather than attempting to dominate the market immediately [34][35] - Understanding local market conditions, even if they appear outdated, can reveal hidden opportunities for business success [36][38] Cultural Understanding - Cultural barriers can hinder effective business execution, even among individuals who share a language [45][46] - Local business models can be replicated, but the nuances of cultural understanding are often the most challenging aspect to navigate [44][45]

8月14日，A股高开后向上突破，沪指突破3700点，盘面上TMT走势分化，昨日强势的通信板块回 调，稳定币、服务器、国产软硬件等概念走强，创业板人工智能ETF华夏（159381）盘中强势翻红，持 仓股国投智能涨停，长亮科技、光库科技、神州泰岳等纷纷冲高。截至10：40，成交额超8000万元资金 交易活跃，换手率达35%位居同类第一。 （责任编辑：董萍萍 ） 兴业证券表示，6月以来，AI板块持续凝聚市场共识，成为本轮市场上行过程中最强主线之一。然 而，与年初AI行情较快进入"过热"区间不同，本轮AI行情演绎至今，无论从滚动收益差、成交占比、拥 挤度等指标来看，目前均未提示过热信号。 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 受益于较高的AI算力含量，创业板人工智能指数在这轮行情中表现突出。数据显示，该指数光模 块CPO权重超41%，前3大成分股囊括中际旭创（15.89%）、新易盛（14.86%）、天孚 ...

Group 1 - A-shares have surpassed 3700 points, breaking the previous high from October 8 of last year, while the ChiNext index has also exceeded 2500 points, reaching a new high for the year [1] - The ChiNext index has shown significant performance in previous bull markets, with gains exceeding 100% in the last two cycles, and the Tianhong ChiNext ETF has seen a cumulative increase of 60% from September 24 to October 8 last year, followed by a 21% rise in the past month [1] - The current PE (TTM) of the ChiNext index is 35.73 times, which is at the 28.38% historical percentile over the past decade, while the PB valuation is approximately 4 times, ranking low among mainstream broad-based indices [1] Group 2 - The margin trading balance, a key indicator of market activity, has risen to 20,462.51 billion yuan, increasing by 117.18 billion yuan from the previous trading day, indicating a potential influx of retail funds into the market [2] - The growth in non-bank deposits in July may suggest that residents are accelerating their investments in the stock market, with a focus on the brokerage sector benefiting from this trend [2] - Index funds provide a convenient investment tool, allowing investors without securities accounts to access the market through platforms like Ant Wealth, Tian Tian Fund, and JD Finance, with specific funds tracking the ChiNext and the CSI All Share Securities Companies [2]

Group 1 - The ChiNext Index has surpassed the 2500-point threshold, increasing by 0.15% [1] - AI chips and Chiplet concepts are among the leading sectors in terms of growth [1] - Sectors that experienced significant gains include those that had涨停 (limit-up) yesterday [1]

Core Insights - Hangzhou is positioning itself as a youth development city, attracting young talent with favorable policies and a vibrant entrepreneurial atmosphere [2][9] - The city has seen significant growth in youth employment and entrepreneurship, with 177,000 university students under 35 attracted in the first half of the year [2][10] - Hangzhou has been recognized as the "Entrepreneurial Capital" for under-30 entrepreneurs in China, reflecting its appeal to young innovators [2][10] Employment Initiatives - In the first half of the year, Hangzhou created 140,800 new urban jobs, achieving 56.32% of its annual target [3] - The city has launched over 30,000 quality internship positions across key industries such as digital economy and biomedicine, aimed at recent graduates and unemployed youth [4] - Various employment promotion events have facilitated connections between 138 universities and over 300 companies, resulting in the preliminary cooperation intention for 11,200 graduates [4] Online Employment Services - Hangzhou's "Employment and Entrepreneurship Map" has been upgraded to include advanced features like personalized job seeker profiles and smart resume generation [5] - The city has established a "15-minute employment circle" to provide job seekers with easy access to local job information [5] - Monthly employment service days are organized to enhance public awareness and accessibility of employment services [6] Entrepreneurial Environment - Hangzhou offers streamlined processes for entrepreneurs, allowing for quick registration and access to resources [8] - The city has implemented various support programs, including training, loans, and subsidies, to reduce the burden on startups [9] - The entrepreneurial ecosystem is characterized by government support, with services designed to assist rather than manage entrepreneurs [9] Growth in Entrepreneurship - The 9th China Hangzhou University Student Entrepreneurship Competition has led to the establishment of 221 new companies by participants [10] - Hangzhou has seen a surge in new business registrations, with 194,800 new enterprises and individual businesses established in the first half of the year [10] - The city is home to 20 young entrepreneurs listed in the "U30 China Entrepreneur Pioneers" ranking, surpassing major cities like Beijing and Shanghai [10]

8月14日，创业板盘中翻红，现涨0.131%，该指数成分股中，江波龙上涨超5%，三环集团上涨超4%， 景嘉微、卓胜微与江丰电子上涨超3%。 相关ETF方面，创业板ETF天弘（159977）拉升翻红，截至发稿上涨0.35%，成交额为1250.23万元。截 至8月13日该ETF最新流通份额为33.88亿份，最新流通规模为87.7亿元。 消息面上，国家发展改革委党组成员、国家数据局局长刘烈宏8月14日在国新办举行的"高质量完成'十 四五'规划"系列主题新闻发布会上介绍，"十四五"时期我国数字基础设施实现长足发展。我国数字基础 设施在规模、技术等方面处于世界领先地位，截至2025年6月底，5G基站总数达到455万个，千兆宽带 用户达2.26亿户，算力总规模位居全球第二，有力带动经济社会发展。 （本文机构观点来自持牌证券机构，不构成任何投资建议，亦不代表平台观点，请投资人独立判断和决 策。） 创业板ETF天弘（159977）紧密跟踪创业板指数（399006.SZ），该指数是深交所多层次资本市场的核 心指数之一，由最具代表性的100家创业板上市企业股票组成，反映创业板市场层次的运行情况。创业 板指数新兴产业、高新技术企业 ...

创业板公司最新融资余额4121.35亿元，已连续三个交易日增加，其间累计增加118.99亿元。 证券时报·数据宝统计显示，截至8月13日，创业板两融余额合计4134.53亿元，较上一交易日增加52.16 亿元。其中，融资余额合计4121.35亿元，较上一交易日增加51.64亿元，为连续三个交易日增加，其间 累计增加118.99亿元。 创业板两融余额及变动 | 日期 | 两融余额（亿元） | 环比增减（亿元） | 融资余额（亿元） | 环比增减（亿元） | | --- | --- | --- | --- | --- | | 2025.08.13 | 4134.53 | 52.16 | 4121.35 | 51.64 | | 2025.08.12 | 4082.37 | 30.26 | 4069.71 | 30.01 | | 2025.08.11 | 4052.12 | 37.72 | 4039.70 | 37.34 | 创业板融资余额连增期间，融资余额增加的有559只，增幅超20%的有56只，融资余额增幅最大的是飞 沃科技，最新融资余额1.06亿元，其间增幅119.76%，其次是新特电气、万得凯，最新融资余额分 ...

Core Insights - The latest financing balance of the ChiNext market is 412.135 billion yuan, with a week-on-week increase of 5.164 billion yuan, indicating a positive trend in financing activities [1] - On August 13, the ChiNext index rose by 3.62%, and the total margin balance reached 413.453 billion yuan, marking an increase for three consecutive trading days [1] - Among the stocks with increased financing balances, 509 stocks saw growth, with 54 stocks experiencing an increase of over 10% [2] Financing Balance Growth - The stock with the highest increase in financing balance is C Guangjian Technology, with a latest balance of 95.1423 million yuan, reflecting a week-on-week increase of 91.40% and a price increase of 28.20% [3] - Other notable stocks with significant financing balance growth include Oulu Tong and New Special Electric, with increases of 40.98% and 38.85%, respectively [3] Market Performance - Among the stocks with a financing balance increase of over 10%, the average price increase on the same day was 4.39%, with 38 stocks rising and three stocks hitting the daily limit [2] - The top performers in terms of price increase include C Guangjian Technology, Defu Technology, and Sanhuan Group, with respective increases of 28.20%, 17.30%, and 15.51% [2] Financing Balance Decline - A total of 434 stocks experienced a decline in financing balance, with 16 stocks seeing a decrease of over 10% [4] - The stock with the largest decline is Kangtai Medical, with a latest financing balance of 17.41481 million yuan, reflecting a decrease of 28.04% [4] - Other stocks with significant declines include Rongxin Culture and Benli Technology, with decreases of 19.48% and 18.67%, respectively [4]

Market Overview - The market experienced a strong upward trend, with the Shanghai Composite Index surpassing the high point from October 8 of the previous year, reaching a nearly four-year high [1] - AI hardware stocks showed significant growth, while brokerage stocks also saw a temporary surge, and non-ferrous metal concept stocks strengthened [1] ETF Market Activity - On August 13, the non-monetary ETF market saw notable inflows, with the following funds reporting significant changes: - The Jiashi CSI AAA Technology Innovation Corporate Bond ETF increased by 0.41 million shares, with a net inflow of 4.077 billion yuan - The Bosera CSI Convertible Bonds and Exchangeable Bonds ETF saw an increase of 1.00 million shares, with a net inflow of 1.312 billion yuan - The Haifutong CSI Short-term Bond ETF increased by 0.08 million shares, with a net inflow of 919 million yuan [1][2] ETF Performance Summary - The top-performing ETFs in terms of net inflow for August 13 included: - Jiashi CSI AAA Technology Innovation Corporate Bond ETF with a net inflow of 5.213 billion yuan - Fuguo CSI Hong Kong Stock Connect Internet ETF with a net inflow of 4.644 billion yuan - Haifutong CSI Short-term Bond ETF with a net inflow of 4.257 billion yuan [4] Overall ETF Market Data - As of August 13, the total ETF shares in the market reached 27,793.85 million shares, with a total scale of 47,392.52 billion yuan - The medical sector saw the largest increase in shares, with nine funds tracking it, while the largest increase in index tracking was for the CSI Wine Index (+4.21%) and the highest return was for the Communication Equipment Index (+6.73%) [4]