题图｜视觉中国 今年天猫618，全场立减直降。 这个变化让消费者和业内都吃了一惊。 5月8日，天猫宣布今年618只设一个玩法，即官方立减15%起，最高立减50%，可与大额消费券、行 业品类券、直播红包、国家补贴等叠加，不但体验上更加简单，还能达到比凑满减更实惠的价格。 除了一些优惠券依然采用满减逻辑，延续多年的"满300减50"经典玩法并未登场。 每次大促的"数学 题"终于告一段落，而立减直降叠加优惠券，参与活动的品牌商品反而更便宜了。 采用直接折扣可以说是一种 "回归初心"。中国电商大促起源于2009年双11，最早就是以全场5折打出 了影响力，向消费者提供"最简单、最便宜"的使命从来没有变过。 而电商行业的形势一直在变。经历了卷生卷死的2023、2024两年，算法压价和流量逻辑的"注水"能 力已然见顶，各个平台与商家都迫切需要探索一条可持续增长的新路。淘宝给出的解法是"扶优"，一 边提升用户体验、做大用户增长，另一方面扶持优质原创品牌，和品牌商家共同做大生意的蛋糕。 5月16日晚，天猫618开售1小时，43个品牌成交破亿，同比去年开卖首日增长超过50%。根据财报， 淘天集团重要业绩指标也连续两季度超越市场预 ...

当中国高端美妆行业陷入"消费降级"的集体焦虑时，另一个趋势却在暗中涌动：香水品类正成 为美妆巨头们的押注板块，通过投资加码、升级叙事逻辑以求重回增长轨道。 一边是护肤与彩妆的"存量厮杀"，一边是香水赛道的"情绪红利"爆发，这场背离背后藏着怎样 的市场密码？当国际品牌争相掘金之际，本土玩家如何巩固自己的生态位？ 为厘清这些问题，《FBe a u t y未来迹》向中国最大的香水品牌管理公司 （ 据 弗 若 斯 特 沙 利 文 2 0 2 3 年 数 据） ——颖通集团首席运营官王巍提了几个问题，试图找寻一线答案。 高盛数据显示，中国高端美妆市场规模在过去四年间缩水2 0 0多亿，但看似同处"高端消费"阵 这体现在，过去几年里，国际美妆巨头无一不在重磅押注香水赛道，而香水也在各大国际公司 的财报中频被表扬。很明显， 当护肤与彩妆深陷"消费降级"争议时，香水却成为国际巨头们 心照不宣的"安全牌" 。 " 高端美妆和香水之间是不能完全划等号的。 "王巍认为，即便当下国际品牌占据主导，但香 水的特殊性在于其兼具"奢侈品"与"情绪品"的双重基因——前者锚定国际品牌主导的高端市 场，后者则通过文化叙事与感官体验构建差异化壁垒 ...

Core Insights - The essence of knowledge work is to leverage cognitive abilities to create incremental value for organizations, moving beyond mere physical labor [1][5] - Many managers unknowingly fall into the trap of "pseudo-knowledge work," relying on outdated methods and failing to engage in deep thinking [1][5] - The rise of knowledge workers is a revolutionary change in the 20th century, emphasizing the importance of innovation and productivity in this sector [2][4] Group 1: Value of Knowledge Workers - Knowledge workers, or cognitive laborers, are defined as those who utilize their intellectual capabilities to generate value [2] - Peter Drucker is credited with coining the term "knowledge worker," highlighting the shift from physical labor to cognitive contributions in the workforce [2][4] Group 2: Productivity Challenges - Measuring the productivity of knowledge workers is complex, as their contributions are not easily quantifiable compared to physical labor [5] - While physical labor productivity improved significantly in the 20th century, knowledge worker productivity remains a challenge in the 21st century [5] Group 3: Innovation as a Core Competence - Innovation is essential for knowledge workers, as the core asset of organizations has shifted from physical resources to human capital [6][8] - Drucker defined innovation as transforming existing resources into better customer value, which is a critical standard for evaluating knowledge work [8] Group 4: Entrepreneurial Traits - True entrepreneurs possess four key traits: facing reality, embracing change, making courageous decisions, and converting internal value into customer benefits [9] - These traits are essential for navigating challenges and seizing opportunities in a dynamic business environment [9] Group 5: Long-term Perspective on Innovation - Innovation is not a one-time event but a sustained effort driven by a long-term customer-oriented value system [13] - Organizations that persistently pursue meaningful goals, despite setbacks, can eventually achieve significant advancements [13][15] Group 6: Integration of Eastern and Western Management Philosophies - Drucker identified three core tasks for enterprises: fulfilling their mission, ensuring effective work, and fulfilling social responsibilities [18][19] - These tasks align with the ancient Chinese philosophy of "Three Immortals," emphasizing moral integrity, tangible achievements, and leaving a beneficial legacy [21][22] Group 7: Educational Innovations - The exploration of innovative practices in education can lead to significant improvements in various sectors, including schools and hospitals [27][28] - Maintaining curiosity and adaptability is crucial for discovering new possibilities and enhancing performance across different fields [28] Group 8: Leadership and Self-Management - Effective leadership is rooted in self-management and the ability to influence others positively, rather than relying on authority [29][31] - Organizations should focus on developing valuable knowledge workers who can inspire and lead by example in their professional and personal lives [29][31]

其次，是技术架构的前瞻性布局。分布式数据库、隐私计算、区块链等新技术正在重塑数据基础设施， 银行应当把握技术演进趋势，构建弹性可扩展的数据平台。 证券时报记者李颖超 商业银行数字化转型已步入深水区。 近期，国有大行、股份行等各类金融机构动作频频——从年报中对数据资产入表的积极探索，到招聘人 才时所展现出的倾向偏好，再到数据平台建设所释放出的招标信息，无一不显露出银行业加速布局数据 资产的态势。 不过，在数据资产变现的"快车道"上，银行业仍需要警惕急于求成的心态，不能盲目追求短期效益。真 正具有远见的银行，正以长期主义思维构建可持续发展的数据生态体系，这种战略定力或将决定未来银 行业的竞争格局。 数据生态建设是一项系统工程，需要银行从战略高度进行整体规划。随着《数据安全法》《个人信息保 护法》等法规出台，数据要素的市场地位得到制度性确认。商业银行拥有海量客户的交易、信用评估等 核心数据，这些资源的价值已超越简单的业务支持层面，成为决定商业银行未来竞争力的战略资产。 构建高质量数据生态，需要银行在三个维度持续发力。 首先，是治理体系的持续性投入。数据治理不是一次性工程，而是需要持续优化的长效机制。 最后，是人才体 ...

Group 1: Dairy Industry Insights - The brands Jindian and Anmuxi have recently gained significant attention due to their innovative marketing strategies, with Jindian focusing on "long-termism" and emotional storytelling through a documentary short film featuring a farmer's 20-year relationship with his cows [3] - Anmuxi employs a strategy centered on "emotional symbolism reconstruction," utilizing a popular figure to create a strong association between their product and positive emotional experiences, particularly targeting Gen Z consumers [3] Group 2: Beverage and Dining Sector Developments - The beverage brand Mixue Ice City has successfully gone public in Hong Kong, leveraging its mascot "Snow King" to enhance brand visibility and engage consumers during the listing ceremony, resulting in increased user discussions and product purchases [4] - Haidilao celebrated its 31st anniversary with a series of events themed around "happy socializing," including a brand film that connects the brand with social emotional relief, and interactive activities across over 1300 stores to foster user engagement and emotional resonance [4] Group 3: Consumer Index and Market Trends - The "Consumer Index Evaluation System" developed by Shiyan Index includes various rankings such as "Brand Consumption Hot Index" and "Industry Consumption Heat Index," aimed at objectively presenting trends in the consumer market to assist brands in tracking market dynamics [5]

历经二十一载岁月沉淀，新财富金牌董秘评选已成为中国资本市场极具权威性与公信力的标杆评选，不仅见证 了中国资本市场蓬勃发展的壮阔征程，更以专业视角镌刻下时代变革的深刻印记。金牌董秘群体凭借卓越的专 业素养与创新实践能力，持续优化上市公司治理、深化投资者关系管理，已然成为推动中国资本市场向高质量 发展迈进的一股重要力量。 值此新财富董秘评选二十一周年之际，诚邀历届金牌董秘，分享企业战略、发展历程与职业经验，以实战洞见 解构资本风云，共探行业发展逻辑。 0 1 佳禾食品董秘柳新仁的成长坐标 2004年，一个年轻人走进了苏州的一家食品企业，彼时，他的身份是一名采购经理；二十年后，他已 成为这家企业连接资本市场最重要的桥梁人物。 柳新仁，现任佳禾食品董事会秘书、副总经理、董事，在这家从"植脂末之王"到"健康食品先锋"不断 转型的企业中，见证了每一次蜕变，也亲手参与了每一个关键时刻。 虽然他没有闪亮的起点，但正是这种长期扎根与持续进化，使他在董秘这一复合型岗位上不断打开新 的边界。从幕后到台前，从业务到资本，从单点执行到战略联动，他用二十年的职业沉淀诠释了什么 是"董秘的长期主义"。 柳新仁职业生涯的关键转折点，出现在佳 ...

Core Viewpoint - The declaration by Great Wall Motors' president, Mu Feng, to "never engage in range-extended technology" signifies a commitment to long-term strategies over short-term gains in the automotive industry [1][4]. Group 1: Company Strategy - Great Wall Motors is choosing to focus on hybrid technology, which is more complex but aligns with long-term industry trends and consumer needs, rather than opting for the simpler, more popular range-extended technology [1][2]. - The company’s decision reflects a deep understanding of technological pathways, market demands, and policy directions, showcasing a balance between innovation and consumer expectations [1][4]. Group 2: Industry Context - Many automotive companies are currently adopting range-extended technology due to its lower technical barriers and higher market acceptance, driven by the success of brands like Li Auto and AITO [1][2]. - The industry is experiencing a trend of companies quickly following profitable technologies without a long-term vision, leading to homogenization and a lack of true innovation [3][4]. - Great Wall Motors' approach serves as a model for the industry, emphasizing the importance of strategic determination and technological confidence in navigating the evolving automotive landscape [3][4]. Group 3: Technological Insights - Hybrid technology, while more expensive and complex, offers superior user experience and aligns with energy-saving policies, making it a forward-looking choice for manufacturers [2][4]. - Great Wall Motors has invested significantly in core technologies such as traditional fuel engines, transmissions, and new energy batteries, which provides the foundation for rejecting shortcuts like range-extended technology [2][3].

把 " 聪 明 消 费 " 变 成 一 种 新 的 生 活 方 式 。 作 者 | 后 浪 & 潮 生 为什么我们越买! 却越不快乐? 毫无疑问，传统的消费习惯正在经历深刻的瓦解。 人们开始对看似高端的"大牌"祛魅 ，并对品牌附加的溢价变得 空前敏感 。 跳过层层加价的品牌渠道，追逐工厂源头，寻找"同厂同源"的平替好物成为一种消费策略，网络上关于各种"平替"的推荐更是铺天盖地。 同时， 海淘、代购、二手交易等购物渠道与购物方式也持续多样化。 年轻人们各显神通，试图用更经济的方式购买产品。 外部环境带来的复杂性更是不可忽略。 全球经济承压，叠加特定背景下的关税波动，许多进口商品的成本与定价都充满了不确定性。这 不仅增加了普通消费者对于进口商品涨价的焦虑，也让 原本清晰的价格体系变得模糊 。 在消费者对寻求国产替代品的期待下，市场中也涌现了大量优秀的国货品牌。 当我们面对海量的选择、波动的价格、以及无孔不入的营销推广时，我们作出消费选择、进行试错的成本变得异常高昂。 我们该如何穿越迷雾，找到那些真正被时间、被生活验证过的"好物"？ 或许，我们需要的不是加速"买"，而是放慢"选"。 不是追逐潮流，而是寻找经典的力量 ...

Core Viewpoint - Jiufang Zhituo Holdings (9636.HK) has been recognized as one of the "2025 Favorite Chinese Brands," highlighting its successful brand building and contribution to the digital transformation of enterprises in the financial technology sector [1][2]. Brand Development - The company employs a "technology + research" dual-driven approach to enhance its brand image, focusing on compliance, integrity, professionalism, and stability [2][3]. - Jiufang Zhituo has created popular educational content, such as the "Buffett and Seven Lunches" series, to make financial knowledge more accessible [3][5]. - The company has developed a matrix of original content, including "Research with Purpose," "One Read Jiufang," and "Jiufang Book House," to strengthen brand recognition and transition from a financial service provider to a financial knowledge ecosystem builder [5]. Cross-Industry Integration - Jiufang Zhituo has deepened its "finance + culture and sports" integration, promoting sports and fitness concepts through events like a 5-kilometer run that encourages value investing [6][7]. - The company has engaged with sports champions to embody the Olympic spirit in its investment philosophy, enhancing brand vitality [6][7]. Education and Talent Development - The company collaborates with universities to promote financial literacy and career development through initiatives like the "Jiufang Z Plan" and "Jiufang Career Day" [8]. - Jiufang Zhituo aims to cultivate new talent that understands both market dynamics and social responsibility [8]. Brand Culture and Social Responsibility - The company emphasizes the importance of brand culture and has contributed to social responsibility initiatives, such as supporting educational institutions and pandemic relief efforts [11]. - Jiufang Zhituo's commitment to "technology for good" reflects its philosophy that social responsibility is essential to its business model [11]. Innovation and Industry Leadership - The company adopts an "import and export" strategy, collaborating with leading firms and participating in major industry events to showcase its innovations [12]. - Jiufang Zhituo is positioned as a leader in the investment advisory industry, leveraging its dual-driven model to redefine the sector [12][13].

"做生意的根本在于真实与诚信，胖东来在这方面展现了良好榜样"。魏建军在视频中特别强 调："真诚才是最高效的商业模式"。这也与魏建军长期坚持的企业经营理念不谋而合。观察 长 城 的 经 营 逻 辑 ， 魏 建 军 一 直 坚 持 " 当 前 行 业 深 陷 价 格 战 泥 潭 ， 但 任 何 时 候 都 不 该 牺 牲 质 量"。 在舆论场上讨论了近一个月的胖东来玉石事件还在持续发酵。 近日，长城汽车魏建军发声力挺胖东来。在一则网络流传的视频中，魏建军表示："胖东来是 一 家 优 秀 的 企 业 ， 值 得 我 们 学 习 。 我 不 认 识 于 东 来 ， 但 作 为 企 业 界 的 人 士 ， 我 也 要 为 他 发 声。" 魏建军是少数主动为胖东来发声的企业家之一。在市场的认知看来，胖东来是"良心企业"的 代表，"用真品，换真心" "不满意，就退货"都是胖东来广为流传的标语。 为 何 坚 守 诚 信 与 品 质 出 圈 的 胖 东 来 会 被 负 面 舆 论 围 剿 ？ 为 何 一 次 抹 黑 却 令 企 业 信 任 摇 摇 欲 坠？魏建军力挺背后或许还有对行业营商舆论环境的忧虑。 在刚刚过去的4月，河南 ...