每经记者｜林姿辰 每经编辑｜魏官红 随着美国方面提出《生物安全法案》等相关政策，FDA（美国食品药品监督管理局）宣布加速审批、AI（人工智能）上岗等多项改革，以及全球生物医 药市场投融资继续遇冷，2025年，越来越多的药企放缓决策，全球CRO（医药研发外包）行业也陷入暂时的低迷。 而包括中国市场在内的亚太市场风景独好。根据天风证券研报统计，今年一季度，国内CRO板块13家上市公司的整体营业收入同比微降近6%；归母净利 润同比猛增105%，似乎已摆脱过去两年的低迷态势，迎来复苏时刻。 7月7日，精鼎医药高级副总裁、亚太区企业战略负责人兼中国区负责人郑唯玲接受了《每日经济新闻》记者专访。郑唯玲认为，中国和海外CRO市场可 谓是"冰火两重天"，亚太市场的关注度越来越高，中国作为亚太创新药市场增长的最大引擎，已是兵家必争之地。 全球创新药数量增加利好CRO，三大研发领域需求火热 在100多年前的"淘金热"时期，卖水人通过为淘金者供水获利，收入往往比大多数淘金者更高。CRO（医药研发外包机构）便是制药领域的"卖水人"，它 们助力药企完成复杂的研发任务，2024年全球服务市场规模已超过800亿美元。 可以说，CRO行业与 ...

Core Viewpoint - The company expects a significant increase in net profit for the first half of 2025, driven by strong sales growth in high refractive index and functional products, leading to an increase in average selling prices [1] Group 1: Financial Performance - The company forecasts a net profit of no less than 271 million yuan for H1 2025, representing a year-on-year increase of at least 30% [1] - The revenue growth rates for standard lenses, functional lenses, and customized lenses in 2024 are projected to be 8.8%, 32.4%, and 11.8% respectively, indicating ongoing optimization of the product structure [2] Group 2: Product Development and Innovation - The company is one of the few manufacturers capable of producing 1.74 refractive index resin lenses, with a focus on high refractive and customized products [2] - The company is actively developing an XR (Extended Reality) R&D center and is engaged in collaborations with leading global technology and consumer electronics companies to prepare for potential mass production of AR or AI glasses [3] Group 3: Global Strategy and Supply Chain - The company plans to invest approximately 4 million USD in a new automated resin lens production line in Japan, aimed at enhancing supply chain resilience and production capacity for high-end customized lenses [2] - The establishment of the Japanese production line is expected to mitigate risks associated with US-China trade tensions and improve response times for customers in the Asia-Pacific region [3] - The diversified production base, including facilities in Japan, Jiangsu, and Shanghai, is anticipated to lower overall production costs and enhance the company's ability to navigate geopolitical uncertainties and currency fluctuations [3] Group 4: Earnings Forecast - The company has adjusted its profit forecast, projecting net profits of 560 million, 670 million, and 790 million yuan for 2025-2027, with corresponding P/E ratios of 31X, 26X, and 22X [4]

AGI Playground 2025，我们想让你听得爽、聊得嗨，还能玩得尽兴。 遇见一群同频的人、说几句不设防的大实话、做一些意料之外的事。只要喜欢 AGI，大家都是朋友！ 在主题分享、专题研讨等（ 完整议程 ）之外，我们提供了可以直接来玩的几个展区，还有几种新玩法。 今年的胸卡，我们做了一些小升级，加了一点高科技，让大家「碰碰」就能交友。还有每年的惯例——逛展的时候发发小红书，有官方流量加持，放 大你的影响力！ 顺便再打个广告：限时早鸟票即将结束，想来玩，速来买票！ 点击购票 01 RTE Open Day： 亲身感受 AI + 实时互动 RTE Open Day：上手体验最新的 AI 硬件、软件产品。 Playground 户外交流区： 创业者、孵化器、投资方、云厂商及社区，想跟谁，跟谁聊。 After Party：不插电音乐会、无限量披萨可乐，还有重磅抽奖！ 今年，这个展区升级回归了。 16 个在 RTE 开发者社区成长的项目将会参展，从 AI 玩具、AI 陪伴、语音 AI 客服，到 AI 教育、语音模型、AR 游戏，应有尽有。展区平面图如下： 想知道 AI + 实时互动最近都在卷什么？ 来这儿转一圈 ...

白交 整理自 凹非寺 量子位 | 公众号 QbitAI 沉寂一年多，消失的Ilya Sutskever终于出现了！ 他回到20年前大学毕业的讲台上——作为荣誉博士获得者进行了演讲。他说，这是他在母校多伦多大学获得的"第四个学位"。 他没有提创业进展，也没有说AGI时间表，更多的是告诉大家， 如何在AI世界更好地生存与发展 。 终有一天，AI将能做到我们现在能做的一切。 而他的心态是接受现实本身，不沉湎于过往的悔恨，专注于改善当下。 值得一提的是，这其实是从OpenAI离职之后的首次亮相。他的最新推文还停留在去年的诺奖祝福，更早之前就是他的创业官宣。 此次母校颁予他荣誉理学博士学位，是为了表彰他作为计算机科学家和AI 先驱的奠基性工作和全球影响力，以及他作为安全和负责任的AI倡 导者的杰出贡献， 虽然只有10分钟的毕业演讲，但仍然让网友们感到振奋。 | 他终于出现了，他走出了SSI的洞穴！！ | | --- | 在不改变原意符合中文语境的基础上，DeepSeek做了如下整理 。 Ilya毕业演讲全文 大家好，非常高兴能来到这里。感谢大家精心筹办活动、组织典礼，并授予我这个荣誉学位。这份荣誉意义非凡。 我深信，没 ...

点评：超音速客机预计将大幅缩短洲际航程时间，或可极大提升航空旅行效率。 NO.2 Meta大手笔！或投数十亿美元押注AI独角兽 美国社交媒体巨头Meta Platforms正洽谈向AI数据标注初创公司Scale AI投资数十亿美元的事项，该笔融 资的价值可能超过100亿美元。这将是Meta有史以来最大的外部AI（人工智能）投资。目前交易条款尚 未最终确定，仍存在调整空间。 点评：AI性能高低往往由数据质量决定，Scale正是凭借这一核心能力成为资本竞逐的对象，估值亦节 节攀升。Meta对Scale AI的潜在巨额投资，正是当前全球"AI军备竞赛"的缩影。微软已向OpenAI投入逾 130亿美元，亚马逊和谷歌母公司Alphabet也分别向Anthropic注资数十亿美元，未来"AI军备竞赛"将越 来越"卷"。 每经记者｜杨卉 每经编辑｜魏官红 丨 2025年6月9日 星期一 丨 NO.1 特朗普废除陆上超音速飞行禁令 当地时间6月6日，美国总统特朗普签署行政令，指示美国联邦航空管理局（FAA）废除在1973年设立的 关于禁止陆上超音速飞行的规定。特朗普认为，工程和技术的进步使得超音速航空旅行"不仅是可能 的，而 ...

Financial Data and Key Metrics Changes - The company is focused on achieving high single-digit revenue growth and 500 basis points of margin expansion by 2027, excluding the Greater China region [30][31] - The company has made cost reductions of approximately $100 million this year and beyond to improve its financial position [24][36] Business Line Data and Key Metrics Changes - The clinical segment accounts for approximately 55% of revenue and showed strong growth in Q1, with good placements of the X platform and mid-single-digit growth in consumables [60] - The academic and government end market, which represents about 50% of revenue, has been lowered by 15% in guidance due to funding pressures [42][47] Market Data and Key Metrics Changes - The company has noted that more than 50% of its revenue comes from clinical applications, with less than 50% from academic research, indicating a significant reliance on clinical markets [44] - The company expects the long-term growth rate for the academic market to return to around 6%, but anticipates subdued growth through 2025 due to current uncertainties [46][47] Company Strategy and Development Direction - The company is transitioning to focus on end-to-end workflows and deep insights rather than solely on sequencing, aiming to drive genomics to the next level [26][30] - The strategy emphasizes customer intimacy and operational excellence, with a commitment to innovation and maintaining a competitive edge in the market [17][71] Management's Comments on Operating Environment and Future Outlook - Management acknowledged unexpected challenges in 2025, including being placed on the unreliable entity list by Chinese authorities and NIH funding challenges, but emphasized the importance of controlling what can be controlled [21][22] - The company remains optimistic about growth opportunities in the multiomics space and believes that new product introductions will drive future revenue [34][39] Other Important Information - The company is committed to maintaining a strong presence in China, despite current challenges, and sees potential long-term opportunities in the market [54][56] - The company has launched new technologies, such as Constellation, which are expected to enhance its product offerings and customer engagement [74][90] Q&A Session Summary Question: What are the company's expectations for academic growth? - Management believes that academic growth may return to the expected 6% in the future, but it is uncertain whether this will happen within the next four years [42][46] Question: How does the company plan to address competition in the clinical market? - Management emphasized the importance of innovation and customer reliance on Illumina's solutions, stating that customers recognize the value of their investments in Illumina's technology [62][66] Question: What is the company's stance on the situation in China? - Management stated that while China represents less than 5% of revenue, they are actively working to improve relations and maintain a presence in the market, viewing it as a long-term opportunity [52][54]

Financial Data and Key Metrics Changes - Cogent Communications has returned approximately $1.7 billion to investors through buybacks and dividends, with a current dividend growth rate reduced to $0.005 per share due to increased leverage from the Sprint asset integration [4][5][7] - The company anticipates deleveraging quickly, with leverage expected to peak in Q3 2025 before beginning to decline [5][6] Business Line Data and Key Metrics Changes - The Waves business has faced delays, with a target of 800 data centers wave-enabled by the end of 2024, achieving 802 by year-end [24][51] - The installed base for Waves grew by approximately 18% sequentially in Q1 2025, with a focus on improving installation timelines [26][31] Market Data and Key Metrics Changes - The company has engaged with around 150 counterparties regarding the sale of 24 data centers, with four parties progressing to contract negotiations [12][14] - The market for wavelengths is described as more diffused than initially expected, with a revised target of reaching a $500 million annualized revenue run rate by mid-2028 [51] Company Strategy and Development Direction - Cogent is focused on maximizing value through potential sales or leases of data centers, with a balanced approach to capital allocation between dividends and buybacks [8][17] - The company aims to build credibility with customers in the Waves market, with plans to increase service delivery capabilities as demand grows [29][30] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the challenges in the Waves business but remains optimistic about achieving a $100 million annualized revenue rate by Q4 2025 [52] - The company is adapting to customer feedback and market conditions, particularly in the context of AI and its impact on demand for wavelengths [39][40] Other Important Information - The company has significant net operating losses (NOLs) in Europe, which may influence tax implications from potential sales of data centers [17] - The competitive landscape is evolving, with competitors responding to Cogent's claims of faster provisioning times [44][45] Q&A Session Summary Question: Is the current dividend growth rate a permanent change? - Management views the reduction in dividend growth as temporary during the deleveraging period, with plans to reaccelerate growth once leverage is reduced [7] Question: What is the status of data center sales? - Management confirmed ongoing discussions with multiple parties, with a focus on maximizing value through either sales or leases [12][14] Question: What are the challenges faced in the Waves business? - Management acknowledged a stale sales funnel and the need to build credibility with customers regarding installation timelines [22][26] Question: What are the updated revenue targets for the Waves business? - The company maintains a target of reaching a $500 million annualized revenue run rate by mid-2028, despite current delays [51]

就高端化战略的未来布局，卢伟冰说："我们（小米）今天的高端还不是非常高端。"目前小米手机主要 在4000~6000元价格段，而6000元以上的市场份额还很低，小米计划从高端走到超高端。此外，小米还 要从中国走向海外，要从手机和汽车的高端化走到所有品类上去。 每经记者｜李少婷 每经编辑｜张海妮 5月27日晚间，小米集团召开2025年第一季度业绩发布媒体电话会议。 会上，小米集团合伙人、总裁卢伟冰分享了小米在过去几年坚持的战略主线：首先是技术硬核化，小米 曾经历财务压力非常大的阶段，但即便是在这样的情况下，小米依然坚持不断增加研发投入，研发投入 支撑小米做出了有竞争力的产品；其次是品牌的高端化，从2020年开始做高端化，小米目前已经走向了 全产品线的高端化；再次是市场的全球化，在逆全球化政策压力下，小米成为一家全球科技公司的目标 没有发生动摇；最后是商业模式的生态化，小米需要从范围经济向网格经济进行升级。 至于AI布局，卢伟冰称预计今年整个集团300亿元的研发费用中，大约有1/4会投向AI。卢伟冰表示，小 米在未来的AI时代具有明显优势，优秀的用户基础可以带来很多场景，这些场景可以产生很多数据， 这些数据在AI下 ...

Financial Data and Key Metrics Changes - In Q1 2025, total revenues reached CNY 16.77 billion, marking a year-over-year increase of 141.5% but a quarter-over-quarter decrease of 1.8% [26] - Vehicle sales revenues were CNY 14.37 billion, up 159.2% year-over-year but down 2.1% quarter-over-quarter [26] - Gross margin improved to 15.6% from 12.9% year-over-year and 14.4% quarter-over-quarter [27] - Vehicle margin increased to 10.5% compared to 5.5% year-over-year and 10% quarter-over-quarter [28] - Net loss narrowed to CNY 660 million from CNY 1.37 billion year-over-year and CNY 1.33 billion quarter-over-quarter [29] Business Line Data and Key Metrics Changes - The Mona M03 surpassed 100,000 deliveries, becoming the best-selling A-Class pure electric sedan [10] - The P7 Plus achieved its 50,000th unit production within 12 months of launch [10] - New models G6 and G9 delivered over 7,500 units in their April debut [11] Market Data and Key Metrics Changes - Overseas deliveries increased by over 371% year-over-year, establishing the company as China's leading exporter of mid to high-end new energy vehicles [14] - The company opened over 40 new stores abroad, entering key markets such as the UK, Europe, and Indonesia [15] Company Strategy and Development Direction - The company is focusing on AI-driven technology innovations and aims to democratize technology to make premium features accessible to all [12] - Upcoming launches include the Mona M03 Max and G7, targeting the RMB 150,000 and RMB 250,000 segments respectively [13] - The company anticipates rapid growth in overseas markets over the next three years [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving significant growth in Q2 2025, with expected vehicle deliveries between 102,000 to 108,000 units [23] - Revenue guidance for Q2 is projected between RMB 17.5 billion to RMB 18.7 billion, reflecting a year-over-year growth of 115.7% to 130.5% [23] - Management believes they will achieve profitability in Q4 2025 and generate substantial free cash flow for the year [23] Other Important Information - The company is committed to advancing its R&D capabilities, particularly in AI and autonomous driving technologies [15][19] - The Turing chip is expected to enhance the company's autonomous driving capabilities significantly [47] Q&A Session Summary Question: Expectations for sales volume growth in the next quarter - Management indicated that new model launches and improved AI capabilities will drive further growth in deliveries [34][36] Question: Guidance on export business growth and strategies in Europe - Management confirmed strong international growth and plans to navigate tariff impacts through local investments and product mix adjustments [41][43] Question: Update on the Turing chip and its application in models - The Turing chip is set to enhance autonomous driving capabilities and will be integrated into more models soon [46][49] Question: Role of the Mona series in the company's strategy - The Mona series is aimed at younger consumers and is expected to have a significant market impact [56] Question: R&D investment allocation for AI-related areas - A substantial portion of the increased R&D budget will be directed towards AI initiatives, enhancing computational capabilities [60] Question: Impact of foreign competition on market dynamics - Management acknowledged increasing competition but emphasized the importance of technological capabilities for success [92][94] Question: Update on partnership with Volkswagen - The collaboration is progressing well, with all milestones being met and new products expected to launch soon [98]

应急处理能力是事故损失控制的"最后一道闸"，而工业互联网通过仿真演练、智能决策支持，让应急响 应更高效、更精准。 传统应急演练依赖人工脚本与现场布置，成本高、复用性差。工业互联网平台基于数字孪生技术，构建 油田生产系统的三维仿真模型，支持火灾、泄漏、爆炸等事故的"一键触发"与多部门协同推演。例如， 某油田在平台中模拟"输油管道泄漏事故"：学员需在虚拟环境中完成应急响应（启动ESD系统）、人员 疏散（规划逃生路线）、消防部署（调配灭火资源）等操作，系统实时计算泄漏范围、火势蔓延速度与 资源消耗量，评估预案可行性。演练结束后，平台自动生成优化建议，如调整应急物资储备点、增设逃 生通道标识等。 在石油行业，生产环境复杂、设备高负荷运转、高危作业场景密集，任何疏漏都可能引发严重后果。事 故预防与应急处理是油田安全管理的"双核"，而安全培训则是打通两者、构建闭环的"中枢神经"。工业 互联网技术的深度渗透，让安全培训从"被动应对"转向"主动防御"，通过数据驱动、场景模拟与智能纠 偏，成为企业降低事故率、提升应急效能的核心手段。 事故预防的核心是消除隐患、规范行为，而工业互联网技术通过精准识别风险、强化安全认知，将隐患 扼 ...