格隆汇1月8日丨锐新科技(300828.SZ)在投资者互动平台表示，公司原材料主要以铝、铜为主，其短期 价格上涨会导致采购成本阶段性上升，但公司采用"以销定产、以产定购"的动态调整方式，有效降低了 短期价格上涨带来的影响。目前，公司已为零跑汽车提供产品，同时积极跟进安徽省内汽车类企业合作 机会。 ...

Core Insights - Pinduoduo's recent shareholder meeting revealed significant changes, including the introduction of a co-chairman system with Zhao Jiazhen and Chen Lei as co-CEOs, and a strategic focus on enhancing the Chinese supply chain while aiming to create a new Pinduoduo that emphasizes quality and ecosystem [3][4] - Temu has rapidly grown to become one of the largest e-commerce platforms globally, achieving a GMV of 168 billion with a 42% year-on-year increase, and a monthly active user base of 530 million [5][7] Group 1: Strategic Shifts - The shareholder meeting indicated a shift from merely building an e-commerce platform to investing in supply chains and co-creating industry ecosystems, which could significantly impact the Chinese e-commerce sector [4] - Pinduoduo's management expressed ambitions to "recreate Pinduoduo" over the next three years, focusing on leveraging the supply chain to enhance product quality and market reach [3][12] Group 2: Temu's Business Model - Temu's "full management + semi-management" model has set a new standard in cross-border e-commerce, allowing factories to take center stage and reducing intermediary costs while enhancing quality control [7][9] - The model is tailored to connect China's mature supply chain with global consumer markets, facilitating rapid production and distribution [11][18] Group 3: Support for Industry Transformation - Pinduoduo's "New Quality Merchant Support Plan" aims to provide substantial resources for industry transformation, including a 10 billion yuan fund to support merchants in various sectors [12][14] - The plan is designed to empower merchants to transition from low-margin OEM models to developing their own brands, thereby increasing their control over high-value segments [18][20] Group 4: Market Dynamics and Consumer Insights - Pinduoduo's approach focuses on providing certainty to producers by aligning production with consumer demand, thus enabling factories to adopt a more responsive production strategy [20][21] - The platform's data-driven insights have helped merchants identify market opportunities, leading to significant sales growth and brand development [17][21] Group 5: Competitive Landscape - The shift in focus from traffic acquisition to supply chain efficiency distinguishes Pinduoduo from other e-commerce platforms, positioning it to better respond to market demands and provide stability to industry players [24]

新浪财经"酒价内参"重磅上线 知名白酒真实市场价尽在掌握 一，坚持"以需定品""以销定产"原则，主动适应消费趋势变化。 "塔尖"以庄园系列产品为主，重点聚焦青鸾、庄园R5、庄园R4，以庄园R3作为补充；"塔身"重点培育 老树藤系列产品，持续巩固老树35市场知名度与占有率，集中发力推进老树20、老树25新品铺市；"塔 基"打造"山海凤凰"大众化系列产品，汽泡酒作为2026年新增品类，同茶干白等形成轻饮、健康、时尚 产品矩阵。 二，个性化、差异化产品按消费需求做好上市节奏。元旦期间上市鲜酒、生肖酒，"五一"期间上市汽泡 酒和茶干白年轻化清爽型产品。同时，茅台葡萄酒也将总经销产品纳入整体产品体系。 据《酒价内参》显示，随着控量政策将公布，飞天茅台近五日终端成交价稳定在1816-1827元；精品茅 台价格则在五日内上涨114元，由2281元一路涨至2395元，涨幅达5%。 责任编辑：韦子蓉 专题：2026年茅台全国经销商联谊会 12月28日，2026年茅台葡萄酒经销商大会召开。新浪财经《酒业内参》获悉，茅台葡萄酒公司党委书 记、董事长李春风对2026年的工作出详细规划。 产品方面，茅台葡萄酒将进一步优化产品适配能力： ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 12月28日，2026年茅台葡萄酒经销商大会召开。新浪财经《酒业内参》获悉，茅台葡萄酒公司党委书记 李春风首先回顾了2025年的工作。 产品方面，茅台葡萄酒调整优化产品结构：一，将原有的六大产品系列精简调整为庄园、老树、山海凤 凰三大系列产品，匹配高端、中端和大众消费市场需求，大众消费产品逐步推行自主品牌； 二，加大新产品升级迭代力度。升级完成庄园、老树、山海凤凰三大系列20款产品，及总经销梦幻之 秋、巅峰之醉、彩凤欢啼、莎当妮干白等。其中鲜酒和茶干白大众化产品取得了较好效果； 三，严格把控生产节奏。除个别经销商有需求的产品外，全面停止严重倒挂的老产品生产。严格按照 "以需定产""以销定产"的要求生产新产品。 据《酒价内参》显示，随着控量政策将公布，飞天茅台近五日终端成交价稳定在1816-1827元；精品茅 台价格则在五日内上涨114元，由2281元一路涨至2395元，涨幅达5%。 责任编辑：韦子蓉 责任编辑：韦子蓉 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 12月28日，2026年茅台葡萄酒经销商大会召 ...

证券日报网12月22日讯博盈特焊（301468）在12月22日回答调研者提问时表示，公司"以销定产"， HRSG产品定价由材料预算、工时预算、其它费用和由设定的净利润率计算出的净利润构成。 ...

Summary of Cai Bai Co., Ltd. Conference Call Company Overview - **Company**: Cai Bai Co., Ltd. - **Industry**: Gold jewelry and investment products Key Points Financial Performance - In 2025, Cai Bai's revenue and profit are expected to grow by over 20%, driven by stable gold prices and a recovery in jewelry consumption [2][3] - The fourth quarter saw increased demand for investment products due to the implementation of a new gold tax policy on November 1, which stimulated sales [3][4] Impact of Tax Reform - The new tax reform affects both jewelry and investment products; however, the impact on jewelry is minimal due to the overall industry facing increased tax costs [4] - Investment products are more volatile due to tax reform, but Cai Bai's direct sales model provides an advantage [4][5] E-commerce Development - The e-commerce subsidiary has rapidly developed, with sales accounting for over 20% in the first half of the year [6] - The Tmall store has resumed selling investment gold bars, and the Double Eleven sales performance was strong, although specific figures were not disclosed [6][7] New Store Operations - The Xiangyun Town store, opened on April 19, 2025, is performing well with a different customer base compared to the main store [8][9] - This store has a higher proportion of jewelry sales and is the largest store outside the main location, but Cai Bai is cautious about opening new large-scale stores [9] Inventory and Product Strategy - Cai Bai employs a sales-driven production strategy, adjusting inventory based on consumer demand, especially for the upcoming Spring Festival [10] - New products, such as the Year of the Horse gold bars, are being introduced to target niche markets [10] Long-term Planning - The company is formulating its "15th Five-Year Plan," expected to be released in 2026, focusing on stable operations and responding to gold price fluctuations and tax reforms [11][12] - Cai Bai maintains a positive outlook on future performance, aiming to increase net profits, which have been stable between 700 million to 800 million [11][12] Shareholder Returns - Cai Bai plans to continue returning value to shareholders, with a focus on maintaining stable dividends while balancing development needs [13] - There is no indication of significant shareholder sell-off intentions, and the overall equity structure remains stable [14]

Core Viewpoint - The article discusses the recent guidelines issued by the State Administration for Market Regulation and other departments aimed at enhancing the quality of products and services on online trading platforms, particularly focusing on live e-commerce [1][3]. Group 1: Key Measures and Innovations - The guidelines emphasize the need for a clear selection mechanism for products, training requirements, and a "blacklist" system for live e-commerce to ensure quality and safety [1][7]. - A series of innovative measures are proposed, including the introduction of a "product digital passport" for quality verification and the establishment of a national industrial product quality safety monitoring and early warning platform [2][8]. - The guidelines aim to transform the platform economy from "large scale" to "high quality" by enhancing product innovation and service standardization, while also holding platforms and operators accountable for quality control [3][6]. Group 2: Addressing Consumer Concerns - The guidelines propose measures to ensure consumers can buy genuine products online, including strict actions against counterfeit goods and false labeling [5][9]. - Improvements in online service standards and after-sales support are highlighted, such as establishing direct hotlines for elderly consumers and creating rapid response channels for issue resolution [5][10]. - The focus is on optimizing consumer rights protection services to enhance shopping confidence [3][5]. Group 3: Technological Empowerment and Collaborative Governance - The guidelines support the use of technology to enhance consumer experience and improve the precision of quality supervision through big data and artificial intelligence [7][8]. - A collaborative governance model is emphasized, involving government regulation, platform responsibility, corporate self-discipline, and social oversight [7][9]. - Specific requirements for platforms include rigorous entry audits and the use of digital tools for daily management, ensuring that dishonest practices are minimized [17].

Core Viewpoint - The article discusses the issuance of guidelines by the State Administration for Market Regulation, in collaboration with other governmental bodies, aimed at enhancing the quality of products and services on online trading platforms, particularly focusing on the live-streaming e-commerce sector [1][2] Group 1: Guidelines and Objectives - The guidelines emphasize improving consumer satisfaction and enhancing the sense of safety in consumption as primary goals [1] - The initiative aims to shift the focus from "large quantity" to "high quality" in online transactions, implementing various measures to achieve this [1] Group 2: Innovative Measures - The guidelines propose innovative measures such as supporting platforms to utilize data advantages for developing on-demand production and sales-driven manufacturing models [1] - Platforms are encouraged to establish a Chief Quality Officer system to guide algorithm logic towards quality enhancement [1] Group 3: Quality Management in Live-streaming - The guidelines require live-streaming e-commerce to strengthen quality management training for marketing personnel and establish a quality-centric selection and training mechanism [1] - A "blacklist" system is introduced to ensure compliance and maintain quality standards in the emerging industry [1] Group 4: Quality Assurance and Monitoring - The introduction of a "product digital passport" plan aims to enhance quality safety verification in key product areas, creating a traceability mechanism from production to consumer [2] - A national industrial product quality safety monitoring and early warning platform will be established, utilizing big data and AI for proactive regulation [2] Group 5: Addressing Malpractices - The guidelines will address issues such as false advertising in online trading platforms by promoting the development of national recommended standards for managing marketing behaviors of live-streaming platforms and operators [2]

Core Viewpoint - The company employs a "sales-driven production" and "production-driven procurement" model to respond quickly to market demand, ensuring a reasonable inventory structure without excessive stockpiling [1] Inventory Management - The company has a reasonable inventory structure and does not have a large amount of stockpiled products [1] - For older model finished products, the company plans to handle them through discount sales, seeking new customers, and exploring new application scenarios [1] Asset Impairment - The company has made provisions for impairment on assets that show signs of impairment, ensuring that the provisions are accurate and sufficient [1]

Core Viewpoint - The company emphasizes its production strategy of "sales-driven production" and aims to enhance market expansion, network growth, and scale to improve capacity utilization [2] Group 1 - The company primarily adopts a "sales-driven production" model [2] - The company plans to continuously strengthen market expansion and network growth [2] - The company aims to increase capacity utilization through scaling up operations [2]