Core Insights - The article presents a deep conversation with the renowned entrepreneur and investor Duan Yongping, focusing on his philosophy of "being true to oneself" and its application in business, investment, and personal development [6][7]. Investment Logic: Understanding Business is Key - Duan emphasizes that the core of investment is understanding the business, sharing insights from his experience buying stocks like NetEase and Moutai, highlighting the importance of business models and corporate culture in investment decisions [18][21][23]. Corporate Culture and Succession: Integrity, Rationality, and Long-term Vision - The success of companies like OPPO and vivo is attributed to their hiring principle of prioritizing cultural fit over mere capability, and the importance of a user-oriented culture that focuses on doing the right things over profit maximization [24][28][27]. Marketing Philosophy: Honesty and Efficient Communication - Duan advocates for a straightforward marketing approach that avoids any form of deception, emphasizing the need to communicate effectively with users [45][50]. Education Perspective: Security and Boundaries - He discusses the importance of providing unconditional love to children while establishing boundaries, arguing against physical punishment as a means of discipline [60][65][68]. Reflection on Luck, Effort, and Understanding - Duan reflects on the role of luck in success, asserting that while opportunities exist, they must be met with effort and understanding of one's field [69][71][72]. Insights on AI and the Future: Tool or Threat? - The conversation touches on the rapid development of AI, recognizing its potential to enhance efficiency while also questioning its long-term implications for society [80]. Long-term Mindset: The Essence of a Calm Heart - Duan defines a calm heart as rationality and long-term thinking, suggesting that maintaining a long-term perspective can help navigate external distractions and challenges [82].

徐晶磊 慢珊瑚创始人 第29届ANDREW MARTIN国际室内设计大奖全球年度大奖 VDREW INTERNATION NTERIOR DES OF THE YEAR 2025 XU JING LEI 2025 WINNER SHOW MOR Xu's projects serve as exemplary models for cultural tourism revitalisation, developing underused rural sites in China to attract younger audiences and enhance social and economic value. -Martin Waller 一马丁·沃勒 ANDREW MARTIN国际室内设计大奖全球年度大奖 作品回顾 徐晶磊的项目堪称文旅振兴典范,通过对中国乡村闲置场地的活化利用,成功吸引年轻群体并 提升社会经济价值。 雁荡山景区的业态复活与更新(悬崖系列) e elo 00 TERNETHE SANNA BE SECREE 19 ar a st r and T ISS NEW OF House Dese ...

经历了2025年的科技产业爆发、周期行业反转，投资者该如何把握2026年市场主线？近期，在上海举办 的"看见・中欧基金2026年度投资策略会"上，中欧基金投研团队从资产配置框架、行业赛道选择、宏观 风险预判等多维度，清晰勾勒出2026年的投资逻辑与值得关注的方向。 2026年市场正处于周期迭代与结构转型的关键节点。这场策略会不仅拆解了对科技、周期、消费、新能 源等行业的中长期研判和独家研究，也呈现出中欧基金如何以工业化投研体系来应对复杂变化的市场， 坚持长期主义，将系统能力转化为投资者可感知、可持续的价值。 刘建平：做好两件事，投研体系"工业化"升级、长期主义客户陪伴 2026年，中欧基金将迎来成立二十周年。中欧基金总经理刘建平介绍，一路走来，中欧基金始终锚定长 期主义核心，近年来专注于做好两件事：一是持续推动以"工业化"为核心的投研体系升级，二是以"长 期主义"精神坚持客户陪伴。 第一件事，围绕"专业化、工业化、数智化"，持续推进投研体系升级。在中欧基金看来，资管行业的超 额收益来源于"洞见"，即超越市场一致预期的认知。其中，专业化，解决的是"洞见"的来源问题；工业 化，解决的是"洞见"的转化问题；数智化， ...

当整个食品行业都在拼命拥抱线上渠道，甚至为此不惜大打价格战的时候，老干妈却默默关闭了直播带货团队，退出了各种线上促销活动。 令人意外的是，这家"传统"得近乎固执的企业，不仅没有因此被市场抛弃，反而实现了连续三年的增长。 据最近发布的《2025贵州企业100强》数据，老干妈2024年销售额达到53.91亿元，已接近2020年54.03亿元的历史最高水平。 那"躺平"的老干妈，是如何逆势崛起的呢？ 以香菇酱等为主打产品的仲景食品，2024年曾经大力发展电商渠道，其中抖音等兴趣电商是重点投入方向，当年的市场推广费用同比大增40.45%，包含 平台仓储配送费、会务费的其他费用也同比增长64.09%，但线上收入同比增长只有29.86%。 到了2025年上半年，仲景食品调整了电商策略，市场推广费用同比减少34.47%。 "要根据不同渠道特点进行费用规划，到店到家及货架电商投入产出效益较好，以抖音为代表的兴趣电商投入产出比相对较低。"仲景食品表示。 逆势增长 急流勇退 2022年10月，一则不起眼的消息在业内流传：老干妈解散了直播团队，停止了线上渠道的专门运营。 彼时正值直播带货最疯狂的时期，几乎所有消费品企业都在想方设法 ...

经历了2025年的科技产业爆发、周期行业反转，投资者该如何把握2026年市场主线？近期，在上海举办 的"看见・中欧基金2026年度投资策略会"上，中欧基金投研团队从资产配置框架、行业赛道选择、宏观 风险预判等多维度，清晰勾勒出2026年的投资逻辑与值得关注的方向。 2026年市场正处于周期迭代与结构转型的关键节点。这场策略会不仅拆解了对科技、周期、消费、新能 源等行业的中长期研判和独家研究，也呈现出中欧基金如何以工业化投研体系来应对复杂变化的市场， 坚持长期主义，将系统能力转化为投资者可感知、可持续的价值。 刘建平：做好两件事，投研体系"工业化"升级、长期主义客户陪伴 2026年，中欧基金将迎来成立二十周年。中欧基金总经理刘建平介绍，一路走来，中欧基金始终锚定长 期主义核心，近年来专注于做好两件事：一是持续推动以"工业化"为核心的投研体系升级，二是以"长 期主义"精神坚持客户陪伴。 第一件事，围绕"专业化、工业化、数智化"，持续推进投研体系升级。在中欧基金看来，资管行业的超 额收益来源于"洞见"，即超越市场一致预期的认知。其中，专业化，解决的是"洞见"的来源问题；工业 化，解决的是"洞见"的转化问题；数智化， ...

Core Viewpoint - The new regulations from the China Securities Investment Fund Industry Association aim to align the interests of fund managers and investors by implementing strict performance assessments and salary adjustments, marking a significant reform in the public fund industry [1][2]. Group 1: Key Changes in Regulations - The new guidelines introduce a performance assessment system that focuses solely on "investor returns," addressing the industry's issue of funds making profits while investors do not [3][8]. - A "mandatory co-investment" mechanism is established, requiring senior executives to invest at least 30% of their performance bonuses in the funds they manage, with a minimum of 60% in equity funds [5][18]. - A dynamic accountability system is created, including a tiered salary adjustment mechanism where fund managers with performance below benchmarks face mandatory salary reductions of at least 30% [6][20]. Group 2: Impact on Fund Managers - Fund managers who have underperformed against benchmarks for three consecutive years may see their salaries cut by over 30%, particularly affecting those managing actively managed equity funds [9][22]. - The new regulations are expected to discourage short-term speculative strategies, promoting a focus on long-term stable returns and increasing the proportion of profitable investors [11][24]. Group 3: Industry Transformation - The implementation of the new rules is likely to accelerate talent migration towards private equity, as top-performing fund managers may seek better opportunities outside public funds [25][26]. - The industry is expected to experience a "Matthew Effect," where leading fund companies benefit from their established research and performance stability, while smaller firms face increased pressure [26]. - The shift from a "star fund manager" model to a "team-based" approach is anticipated, emphasizing collective performance over individual accolades [26][27].

这一次，躁梦节为所有热爱构建了一个可感可知的沉浸空间。环形动线贯穿核心互动区域，经典神车与潮改猛兽同台，情怀底蕴与脑洞创意碰撞——这 里，就是爱车人的年度能量场，一键满格热爱！ 2025广汽本田躁梦节打造爱车人的盛会 时光铸就信赖，梦想激发共鸣。作为链接用户、传递品牌精神的年度顶流IP，2025广汽本田躁梦节以"坚守造车素养 拓宽车生活边界"为主题，近300辆 传奇经典与潮改猛兽强势集结，激情竞技与次元文化高能碰撞，翘翘公园限定潮玩市集同步开放，超人气KOL与潮流"星级躁梦人"齐聚，打造了一场跨圈 层、沉浸式的爱车人共创盛典。 在产业剧变的今天，广汽本田始终坚守27年造车初心。这场融合品质本色与生活美学的多元文化体验，揭示了基于信任的长期价值可以经历时间考验、 穿越市场周期，并能激发更多热爱，与所有爱车人共创车生活的无限可能。 全维度躁梦解码！经典与潮玩ALL IN 传奇经典与潮玩热爱汇聚 匠心探索，"广本品质"真材实料。匠心质造馆多维度展示造车大厂的匠心品质与扎实用料。广汽Honda P7专属工坊狠活拉满，车身架构"原装"呈现，高 级兼容性车身设计，荣获2024年CCB中国十佳车身；防晒天幕实验现场整大活， ...

Core Insights - The conference "Starting New Paths for Steady and Long-term Development" highlighted the importance of diversification and high-quality development in business strategy, as emphasized by Wang Junhao, President of Junyao Group [1] Group 1: Business Strategy - Junyao Group adheres to a strategy of "diversified investment and specialized operation," believing that diversification is essential for long-term stability amid industry cyclicality [1] - The company maintains a strict principle of not using cash flow from its main business to fund diversified ventures, ensuring financial integrity [1] Group 2: Health Industry - Junyao Group entered the health sector in 1994 with Junyao Milk and successfully transformed during the 2008 milk crisis by focusing on probiotics, leading to the establishment of the "Junyao Health" brand [2] - The company has developed over 50,000 strains of bacteria through collaboration with universities and has received international patents, with products now sold in over 80 countries [2] Group 3: Technology and Manufacturing - The company has achieved international certification for its pilot simulator, matching the standards of Boeing 737 and 787, and has successfully exported to France [2] - In the electric vehicle sector, Junyao Group emphasizes a rational development approach, prioritizing quality over scale [2] Group 4: Aviation and Education - Junyao Group's airline, Junyao Airlines, operates over 100 aircraft and has established significant international competitiveness [3] - The education sector focuses on non-profit institutions, with a high percentage of graduates gaining admission to top global universities, and is integrating AI technology to enhance educational outcomes [3] Group 5: Cultural Initiatives - Junyao Group aims to promote Chinese culture globally, exemplified by hosting a guqin concert in Serbia and establishing a cultural exchange center for the ancient instrument [4] - The company emphasizes the importance of cultural heritage and aims to make Chinese civilization more accessible to the world [4]

Core Insights - The 2025 GAC Honda Zao Meng Festival showcases the brand's commitment to quality and driving pleasure while providing an immersive experience for users and fans [2][4][6] - The festival serves as a platform for emotional connection between the brand and its users, emphasizing the importance of long-term value and trust in the automotive industry [4][8] Group 1 - The festival features a variety of elements including classic cars, modified vehicles, and cultural experiences, all under the theme "Upholding Manufacturing Quality, Expanding Life Boundaries" [2] - GAC Honda emphasizes the importance of maintaining manufacturing quality and user passion in a rapidly changing automotive landscape, distinguishing itself from competitors who have reduced investment in user engagement activities [4][6] - The event has evolved since its inception in 2019, becoming a key platform for deep interaction and emotional resonance with younger audiences [4][6] Group 2 - GAC Honda's approach focuses on genuine driving enjoyment and respect for users, rejecting superficial marketing tactics in favor of building lasting brand relationships based on trust [6][8] - The festival successfully attracts a diverse audience, bridging generational gaps and fostering a community of car enthusiasts [6] - The brand's future strategy will continue to prioritize quality and user experience amidst industry transformations, reinforcing its commitment to long-term trust and value [8]

Core Insights - The article features a rare in-depth conversation with the renowned entrepreneur and investor Duan Yongping, discussing his philosophy of "being true to oneself" and its application in business, investment, and personal development [3][4][6]. Investment Logic - Duan emphasizes that understanding the business is the core of investment, sharing insights from his experience with companies like Apple and Moutai, highlighting the importance of business models and corporate culture in investment decisions [4][24][25]. Corporate Culture and Succession - The success of companies like OPPO and vivo is attributed to a hiring principle where cultural fit is prioritized over capability, and a systematic approach to identifying compatible partners over time [5][29][30]. Marketing Principles - Duan advocates for honesty in marketing, stating that communication with users should be efficient and truthful, which he believes is essential for building trust and brand loyalty [6][55]. Education Philosophy - He provides insights on parenting, arguing against physical punishment and advocating for unconditional love and boundary-setting to foster a sense of security in children [6][74][75]. Long-term Perspective - Duan defines a "calm mind" as rationality and long-term thinking, suggesting that maintaining a long-term perspective can lead to better decision-making in both business and life [6][92]. Reflections on Success - The conversation touches on the role of luck and effort in success, with Duan asserting that while luck plays a part, consistent effort and understanding one's business are crucial for achieving long-term success [6][78][82]. Insights from Buffett's Lunch - Duan shares a key takeaway from a lunch with Warren Buffett, emphasizing the importance of a company's business model and culture as filters for investment decisions [4][87][88]. AI and Future Perspectives - The discussion includes thoughts on AI, recognizing its potential to enhance efficiency while also acknowledging the uncertainties it brings to the future [6][90]. Philosophy of "Being True to Oneself" - Duan's overarching philosophy revolves around the concept of "being true to oneself," which he believes underpins both effective business strategies and a fulfilling life [6][93].