指数如昨天复盘预判今天修复，而且是个强修复反包了阴线。但是问题是什么？和讯投顾李嘉乐分析， 今天情绪跟指数走背离动作，这一批高标抱团核心股，量化均瑶还有中超全部被按在地板。其实竞价上 量化开的还可以，开盘后就开始坑人，也不知道今天有没有去博弈首阴的。相比于博弈首阴，更倾向于 去找补涨机会做高低切。乐乐今天早上竞价看了，辉龙今天也是走了k安的补涨逻辑，而广康也是跟了 联化走了分离，今天继续表现盘中比较强的还是数字货币，这个方向我在上周五复盘也专门拆过，最近 呢也是一直在提，最近唯一觉得还能有持续性的，而且不那么坑人的方向。 另外上周金融也是埋伏了点，逻辑上我说过做指数上升通道的预期，金融走强也会反推数字货币。那接 下来乐乐结合今天盘面来跟大家说说我对今天的理解，接下来占用大家半分钟时间，第一复盘我一般都 会控制在2~3分钟，所以不可能把盘面全部拆一遍，那样是做不到的，我只能挑一些我觉得当下盘面重 要的去说。第二，我的复盘从来没有引导性，都是结合盘面找论据支撑我的观点，不存在吹票或者提示 具体买卖。我不知道你们心目中的产业链是什么，如果拆盘面也算的话，那我无话可说，我初心只是想 好好分享我的看盘思路，如果你觉得对 ...

今晚发布的5月CPI数据将成为美国经济的分水岭。随着检验特朗普关税政策对消费价格传导效应的硬 数据首次出炉，其结果可能彻底改写美联储降息预期和市场风险定价逻辑。 高盛警告称，尽管只有10-20%的CPI篮子将直接受到关税影响，但定价权和行为反应可能放大冲击范 围。更为关键的是，这一轮由关税驱动的通胀冲击可能迫使美联储重新审视"暂时性"通胀的判断标准， 而投资者正准备迎接一个"痛苦不对称"的市场反应——通胀超预期的冲击远比低于预期的宽慰更为猛 烈。 关税传导的临界点 北京时间周三晚20:30，美国劳工统计局将公布5月消费者价格指数（CPI）报告。根据媒体调查的经济 学家预测： 在后续报告中，我们预期关税的影响将在幅度和广度上都有所增长。 在幅度上，我们预计月度提升约10-15个基点，6-8月的核心通胀将达到中30个基点左右。 美国5月CPI环比预计增长0.3%，与4月增幅一致； 美国5月CPI同比预计增长2.5%，4月为2.3%，预测范围在2.2-2.7%之间； 美国5月核心CPI环比预计增长0.3%，4月为0.2%； 美国5月核心CPI同比预计增长2.9%，4月为2.8%，分析师预测区间为2.7-3.1%。 ...

Group 1 - The first auction of the original collectible Labubu art pieces took place, with a unique mint green Labubu selling for 1.242 million yuan, setting a new record for trendy toy auctions [1][3] - The auction featured a total of 48 lots, achieving a 100% sell-through rate and a total transaction amount of 3.7254 million yuan [3] - The buyer of the mint green Labubu expressed confidence in the future appreciation of this non-standard art piece [3] Group 2 - Labubu's popularity has significantly increased the wealth of its creator, Wang Ning, who became the richest person in Henan with a net worth of 20.3 billion USD, largely due to the rising stock price of Pop Mart [4][7] - Pop Mart's stock price surged from 19.8 HKD to 258.8 HKD, representing a cumulative increase of over 10 times, with a market capitalization exceeding 347.6 billion HKD [4][5] - In 2024, Pop Mart reported revenue of 13.04 billion yuan, a year-on-year increase of 106.9%, with the THE MONSTERS series, including Labubu, generating 3.04 billion yuan, a staggering increase of 726.6% [7] Group 3 - Labubu's phenomenon extends beyond financial metrics, as it has successfully integrated modern trendy elements with traditional craftsmanship, exemplified by the "Zan Hua Labubu" project [8] - The LABUBU3.0 series has seen significant international demand, with sales in Europe and the US increasing by over 800% [8] - Concerns have been raised regarding the sustainability of the trendy toy IP lifecycle, with industry experts noting that new IP development is crucial before Labubu's popularity wanes [8] Group 4 - The current market valuation of Pop Mart, with a price-to-earnings ratio exceeding 98 times, raises questions about the sustainability of its valuation compared to international peers like Sanrio and Hasbro [8] - The Labubu phenomenon reflects a shift in consumer behavior among Generation Z, moving from material possession to emotional resonance and identity recognition [8] - Recent actions against counterfeit Labubu products highlight the commercial value of authentic IP, with Pop Mart actively building a robust intellectual property barrier [8]

Group 1 - The core viewpoint of the news is that Muyuan Foods has submitted a listing application to the Hong Kong Stock Exchange, aiming to expand its financing channels and enhance its international influence, which could invigorate the livestock sector [1] - Muyuan Foods is a modern enterprise focused on pig farming, integrating feed processing, breeding, pig farming, and slaughtering, and has maintained the highest global pig output since its listing on the Shenzhen Stock Exchange in 2014 [1] - According to招商证券, the pig price performance has exceeded market expectations due to a seasonal narrowing of the price gap and accelerated selling pace in the breeding industry, with limited supply growth expected in Q2 2024 [1] Group 2 - According to 光大证券, the pig farming industry's capacity cycle has bottomed out, with current inventory levels remaining relatively high, indicating a potential turning point in inventory that could drive a reduction in production capacity [2] - The agricultural 50 ETF (516810) is considered worthy of attention as it is at a bottom region, and if pig prices rise, companies may benefit from the widening "scissors difference" between rising prices and falling costs, potentially exceeding market profit expectations [2] - The long-term perspective suggests that after the end of destocking, the sector may enter a prolonged period of profit growth [2]

将投中网设为"星标⭐"，第一时间收获最新推送 找回一笔好投资，一个优秀创业者的定义。 作者丨 曹玮钰 喜乐 来源丨 投中网 整整十年，影石终于上市了。 影石的创业故事始于 2014 年，热钱遍地的"双创"年份。在融资窗口打开的五年间，影石完成多轮融资，总额仅在 5 亿左 右， 2019 年 PreIPO 轮的估值仅为 20 亿上下。这一年影石已经做到近 6 亿的营收 ，超过 5600 万的净利润。 换句话，影石用很小的资金杠杆撬动了一个细分市场"全球第一"。 5 亿元的融资，放在今天的科技赛道大概只够一轮。 有投资人认为，一直以来，刘靖康和影石都被低估了。理由或许是"过于实惠"的估值，以及并不顺利、整整走了四年的 IPO 。事实上，刘靖康与这两年最火的 90 后创始人，比如王兴兴、稚晖君，画像高度相似——年轻极客，热衷手搓铁疙瘩，商业 感觉好，都有和全球巨头"正面刚"的胆魄和能力。 6月11日上午，"全景相机龙头"影石创新登陆A股科创板，开盘价182元，比47.27元/股的发行价大涨285%。截至发稿，影石的 股价仍在180元左右的高位，市值超过720亿元。 在我们过往复盘的融资故事中，"非共识的错过"常是一 ...

众人对于这门高深的基础科学的好奇，终于在现实世界的韦神身上得到了一种延迟满足。 高考前夕，在北京大学任教的"韦神"韦东奕开通个人账号，并发布了一段视频。随后，韦东奕账号迅速 涨粉，目前粉丝数已突破2400万。 韦东奕的第一条视频只有4秒，说了三句话："大家好，我叫韦东奕，这是我的账号。" 这条看似普通的视频，却收获了空前的关注度，并创造了一系列不可思议的纪录。24小时内创造了涨粉 超1000万的纪录，点赞量突破700万，播放量直逼亿级。 "韦神"走红现象，因为这次社交账号开通，再度引发了社会各界对学术传播、流量逻辑与公众心理的深 度思考。 从当下的时间节点看，账号开通恰逢高考前夕，精准触达了考生及背后的教育焦虑群体。评论区"接韦 神智慧"祈祷数学考试一帆风顺的留言，实质是将学术偶像工具化，变成一种积极的心理暗示。 从更长的时间周期回溯，"韦神"封神亦是一场流量造神的典型案例。 2021年，韦东奕手提一瓶矿泉水、两个馒头接受采访的质朴形象走红网络，他也因此被网友亲切地称 为"韦神"。 起初能够迅速走红，源自韦东奕质朴的个人特质与"数学天才"人设，两者构成了极致的反差。草根画风 与顶级科学创造了一种新的偶像定位， ...

作 者丨周炎炎 余纪昕 编 辑丨肖嘉 近期，首批26只新型浮动费率基金申报一周后火速获批面世。新费率机制下，基金公司和基金 经理将告别"旱涝保收"模式，转向与基民"同甘共苦"，必须从关注自身短期利益转向切实提升 投资者获得感。 张宏良认为，基金公司必须要做好《方案》25条举措逐字逐句地深度研究，但更要从"行业生 态重建"的战略高度，深刻把握《方案》出台的改革背景、改革目标及改革路径，主动作为、 率先转型。主动卸下"超能力"的包袱！ 向内，在尊重规律的基础上拥抱变化，夯实投研内核，继续发挥好优秀基金经理的专业性，同 时加快公司平台化建设尤其加强中台过程管控，让投资行为更透明、更可预期；向外，在继续 加强资产端能力建设的同时，加大负债端能力建设的资源投入，重塑产品体系、再造服务逻 辑。 "无论向内还是向外，基金公司都应卸下'超能力'的包袱，重拾普惠金融初心，努力与投资 者、销售渠道共建共生。"张宏良感慨道。 他表示，交银施罗德基金正积极探索产品体系转型，将分类逻辑从单一"资产构成"转向"资产 构成+投资者风险偏好"，努力实现资产管理与财富管理的双向奔赴。"这种转型既是对《方 案》要求的积极落实，也是深刻尊重市场发 ...

Core Viewpoint - The introduction of the first batch of 26 new floating fee rate funds marks a significant shift in the fund industry, moving from a guaranteed profit model to one that aligns the interests of fund companies and investors, emphasizing the need for improved investor experience and long-term value creation [1][2]. Industry Reform Background - The new fee structure is a response to the China Securities Regulatory Commission's "Action Plan for Promoting High-Quality Development of Public Funds," which aims to enhance long-term assessment and incentive mechanisms within the industry [1][2]. - The reform is driven by the need to address existing challenges in the fund industry, including the overemphasis on short-term performance and the lack of a wealth management perspective, leading to a "triple dilemma" among fund companies, investors, and sales channels [3][4]. Challenges in the Fund Industry - The industry faces a "triple dilemma" characterized by: 1. Fund companies relying on historical performance to project future returns, damaging industry credibility [3]. 2. Investors misunderstanding fund products as high-return investments, leading to irrational behavior during market fluctuations [3]. 3. Sales channels experiencing cyclical challenges, resulting in increased complaints during market downturns [3][4]. Strategic Directions for Fund Companies - Fund companies must focus on both internal and external strategies to adapt to the new regulatory environment: 1. Internally, companies should enhance their research capabilities and improve transparency in investment processes [2][6]. 2. Externally, there is a need to rebuild the wealth management ecosystem by aligning investor interests with company performance [6][7]. Product Classification and Investor Focus - A shift in product classification logic is essential, moving from a single focus on asset composition to incorporating investor risk preferences [9][12]. - The goal is to create products that cater to varying risk appetites, ensuring that offerings are aligned with investor needs and expectations [9][10]. Implementation of Floating Fee Rate Products - The floating fee rate mechanism is seen as a critical step in binding the interests of fund companies and investors, with the first batch of products already approved for issuance [1][13]. - Companies are expected to enhance their performance benchmarks to ensure that fund managers are held accountable for their investment decisions, thereby strengthening the alignment of interests with investors [13][14].

Market Overview - The Shanghai Composite Index opened slightly higher, while the Shenzhen Component and ChiNext Index opened slightly lower, indicating mixed market sentiment [1] - By midday, the Shanghai Composite Index was at 3403.52 points, up 0.11%, with a trading volume of approximately 308.5 billion; the Shenzhen Component was at 10226.55 points, down 0.23%, with a trading volume of about 480.2 billion; the ChiNext Index was at 2053.94 points, down 0.36%, with a trading volume of around 235.3 billion [1] Sector Performance - The top-performing sectors included dispersed dyes, liquid-cooled servers, and cultural and recreational sectors at the market open [1] - Active sectors also included recombinant proteins, hair medical, innovative drugs, beauty care, sports concepts, and solid-state batteries, while sectors like financial digitalization, PEEK materials, and AI saw significant declines [1] Institutional Insights - CITIC Securities suggests that small-cap stocks have a short-term advantage and may continue to perform strongly, while large-cap stocks are expected to follow suit as the macro economy recovers [2] - Huaxi Securities notes that the technology sector may experience rotation opportunities, with limited downside potential and promising upside as the sector has not reached high congestion levels [2] - Dongwu Securities anticipates a sustained recovery in the electronics industry in the second half of the year, driven by inventory depletion and seasonal demand [3] Government Initiatives - The National Development and Reform Commission expects a 30% increase in central budget investment for social undertakings compared to the end of the 13th Five-Year Plan [4] - The Ministry of Finance is accelerating the establishment of a childcare subsidy system to enhance elderly and childcare services [5]

这是一次名为"我的「重组」能量"的悦己活动，也是品牌对当代护肤情绪的细腻回应。 5月3 1日，成都的夏天来得缓慢，晨光穿过一间老茶馆的木窗，一场关乎肌肤与身心的对话正 在悄然展开。没有浮夸的灯光，也没有刻意的陈设，清晨八段锦正与热茶的蒸腾交织成一幕动 人的生活图景。在这里，可丽金为都市人构建了一个可以短暂栖息的温柔空间。 在快节奏城市生活中，越来越多年轻人希望从护肤这件小事里，找回属于自己的生活节律与掌 控感。可丽金以东方养生哲学中的"调气、顺势、守和"为内核，在肌肤科学与生活温度之间， 搭建起一种润物无声的连结方式。在这片空间里，身心内外的能量重组，其实也是一个人重新 感知自己的过程。 这场活动恰似一支精密的钥匙，解开科学传播表象背后的深层逻辑，直抵抗老赛道肌理——在 抗老市场的白热化竞赛中，一个以文化为鞘、技术为刃的国货品牌，正在重构"抗老"的东方叙 事。 在当下的中国护肤市场，"悦己"已不再只是一个消费趋势标签，它正在成为品牌与年轻人建立 深层关系的重要通道。越来越多消费者在选择护肤品时，除了关注功效和性价比，也会看重它 是否契合自己的生活方式、理解自己的情绪需求。 因此对品牌而言，从功能走向关系，从技 ...