包括小熊自身，都注重经营质量，避免价格战。如果未来国补转盈后可能会出 现价格战或内卷情况，但目前暂未发现。 小熊电器 20250611 摘要 小熊电器一季度前五大单品包括养生壶（占收入 8%-10%）、电饭煲 （6%-7%）、切碎机、电火锅和电热水壶。公司通过严格管控销售费用， 尤其是在抖音渠道，并优化组织架构，提升各渠道及事业部运营效率， 实现降本增效。 公司在新品研发上围绕基本面和消费者需求，重视母婴类、个护类等核 心人群，并已在母婴和个护领域取得较好效果，同时生活电器中的洗衣 机品类增速亮眼。母婴品类毛利率高于传统厨小电 5-8 个百分点，对整 体盈利水平有提升作用。 小熊电器将重点放在份额较低但具有核心竞争力优势的品类上，并更加 重视海外市场的发展。尽管年初加征关税，但中期海外市场仍保持双位 数以上增长，对美市场影响相对较小。 国内渠道方面，小熊电器重心更多放在线上，淘宝和京东表现良好。抖 音生态有所改变，从流量增量竞争转向存量竞争，更注重商家盈利能力 和经营质量，并推出流量桥以提升交易流量和广告流量转化率。 Q&A 小熊电器在近期经营端各个品类的趋势和状态如何？国家补贴政策的变化对公 司有哪些影响？ ...

Core Viewpoint - The article highlights the significant ecological improvements in the Jinjiang River in Chengdu, emphasizing the successful implementation of pollution control measures and the positive impact on local tourism and economy [2][3][8]. Group 1: Ecological Improvement Measures - The core of the governance strategy for Jinjiang River is pollution interception, focusing on both water and land management to address pollution sources effectively [3][4]. - Chengdu has completed over 7,000 kilometers of municipal drainage network inspections and repairs, installed 23.1 kilometers of interception pipelines, and built 19 sewage treatment plants, increasing daily treatment capacity by 1.735 million tons [3][4]. - The comprehensive approach includes promoting the resource utilization of livestock manure, achieving a 90% utilization rate in Chengdu [4]. Group 2: Water Quality Enhancement - The water quality of the Jinjiang River has improved significantly, with the excellent water quality rate rising from 69% in 2016 to 100%, and the water quality at the Huanglongxi national monitoring section improving from inferior V class to III class and above [4][5]. - Continuous monitoring and management practices have been established, with a focus on identifying pollution sources and ensuring all wastewater is collected and treated [4][5]. Group 3: Infrastructure Development - The construction of Xinglong Lake began in 2013, serving as an artificial ecological reservoir and purifier for the Jinjiang River, enhancing water quality and biodiversity [5][6]. - New wetlands and sewage treatment facilities have been developed in the Lvxik River basin to manage water flow and improve water quality [6]. Group 4: Economic and Tourism Impact - The ecological improvements have led to a surge in local tourism, with Huanglongxi town receiving 217,200 visitors during the Dragon Boat Festival in 2025, a 57% increase year-on-year, and generating tourism revenue of 23.183 million yuan, up 50% [8]. - The enhanced environment has attracted various industries, including healthcare and education, contributing to a vibrant local economy [8].

2023 年年末，蔚来以 10% 的裁员和一封强调降本增效的内部信拉开组织变革序幕。但调整一年之后，员工却增加了 1.2 万人，亏损同比扩大 8.1%，股价 跌回五年前。 全力托举的子品牌乐道仅实现了目标销量的三分之一；主品牌蔚来靠终端降价勉强维持去年同期的销量，却把毛利率拉低到 10.2%，单车均价降至 23.6 万元；收入有所增长，但费用增长的更多，季度亏损额同比扩大到 67.5 亿元。 蔚来又经历了一个惨淡的季度。但在财报发布后的电话会上，管理层继续维持四季度盈利的目标。 理由是，随着蔚来主品牌的改款车型、乐道品牌的新车陆续上市，公司有望在四季度实现 5-5.5 万辆的平均月销量。那时，内部改革的成效也将显现，预 计四季度的研发费降低 30% 以上，销售费率控制在 10% 以内。 与卖车相比，削减费用的举措可能更立竿见影。一场大规模的人员优化正在蔚来内部进行。一些效益较低的研发项目被取消，团队被解散；边界重合的业 务被整合，冗余的人员被压缩。光是乐道并入蔚来，就减少了 40% 的人员。 风暴刚刚开始。一位接近蔚来的人士对《云见 Insight》表示，仅今年前两个季度，蔚来人员流出约有 1 万人，三季度还 ...

特别提示 微信机制调整，点击顶部"仪器信息网" → 右上方"…" → 设为 ★ 星标，否则很可能无法看到我们的推送。 近日，仪器信息网汇总的2 0 2 4年全球科学仪器行业财报数据显示， 2 1家上市企业净利润总额达1 9 8亿元，同比微降， 行业平均净利润率从2 0 2 3年的1 5 . 7%下滑至11 . 6%。 这一数据背后，既折射出行业整体增速放缓的趋势，更揭示了企 业间战略分化加剧的新格局。 导读： 2024年全球科学仪器行业财报显示，21家上市企业净利润总额198亿元，同比下降，行业平均净利润率降至11.6%。头部企业 表现出色，而部分企业面临挑战。 | | | 2024年21家国外上市仪器企 | | | | | --- | --- | --- | --- | --- | --- | | | | 利润掉行榜 | | | | | 最新 | | | 2024年净利润 2023年净利润 | 净利润 | | | 扫名 | | 亿美元 | | 同比变化 | | | 1 | 手数 K | 63.4 | 59.6 | 6.4% | | | 2 | 丹纳赫 | 39.0 | 47.6 | -18.2% | | | ...

Group 1 - As of May 2025, over 430 companies on the Sci-Tech Innovation Board have launched more than 760 equity incentive plans, covering over 70% of the sector [1][3] - Since the implementation of the "Quality Improvement, Efficiency Enhancement, and Return to Shareholders" initiative in January 2023, over 80% of companies have disclosed relevant action plans [1] - In 2024 and 2025, the number of companies disclosing action plans is expected to reach 470 and 479 respectively, with full coverage among the Sci-Tech 50 and Sci-Tech 100 constituent stocks for two consecutive years [1] Group 2 - The number of disclosed industrial mergers and acquisitions on the Sci-Tech Innovation Board has exceeded 100, with disclosed transaction amounts surpassing 33 billion yuan [2] - Companies are increasing R&D investments, with the total R&D expenditure for 2024 reaching approximately 168.08 billion yuan, reflecting a compound annual growth rate of 10.7% over the past three years [2] - The median ratio of R&D investment to operating income is 12.6%, and by the end of 2024, over 120,000 invention patents had been accumulated, with more than 20,000 new invention patents added in 2024 alone [2] Group 3 - The "Eight Articles of the Sci-Tech Innovation Board" propose improvements to the equity incentive system, with many companies developing incentive plans [3] - By May 2025, over 430 companies have implemented more than 760 equity incentive plans, covering over 70% of the sector and involving more than 140,000 individuals, including directors, executives, and core technical personnel [3] - Companies are focusing on optimizing compensation structures and linking them closely to job value and performance contributions, with an emphasis on rewarding project milestones and technology transfer [3]

2024年6月19日，中国证监会发布《关于深化科创板改革服务科技创新和新质生产力发展的八条措施》 (下称"科创板八条")，明确提出，积极营造良好市场生态，深入实施"提质增效重回报"行动。在政策东 风助力下，科创板公司提质增效再升级，统计数据显示，2024年度及2025年度，科创板分别有470家、 479家公司披露年度"提质增效重回报"行动方案，占比均超八成，科创50、科创100成份股公司连续两年 实现全覆盖。(智通财经) ...

Core Viewpoint - The conference focused on promoting the integration and application of green grain storage technologies, aiming to transition from traditional storage methods to more sustainable practices that enhance quality preservation and reduce waste [1][2]. Group 1: Conference Highlights - The event showcased new technologies, equipment, and materials related to green grain storage, emphasizing a comprehensive approach to improve storage quality and efficiency [1]. - A total of 30 demonstration sites for green grain storage technology integration will be launched in 2025, including the Dongguan branch of Guangdong Provincial Reserve Grain Management Group [1]. - The initiative aims to shift the focus from merely ensuring food safety and reducing losses to enhancing quality preservation and promoting environmentally friendly storage practices [1]. Group 2: Strategic Recommendations - Emphasize the development of a systematic green grain storage technology innovation framework that aligns with low-carbon, waste reduction, and quality improvement goals [2]. - Promote the establishment of demonstration points to lead the industry and enhance the level of industrialization while increasing awareness and promoting green storage standards [2]. - Tailor technology applications to regional characteristics, ensuring the use of advanced technologies for high-quality green storage initiatives [2]. - Strengthen project organization and communication, ensuring effective funding supervision and performance management to achieve tangible results from the demonstrations [2]. - Focus on talent development by forming expert service teams and providing technical training to cultivate a skilled workforce in the field of scientific grain storage [2].

Core Insights - The ability to "bear responsibilities" is essential for both individual success and organizational evolution, particularly for founding teams [5][8][33] - A study from Harvard reveals that 93% of startup failures are due to team disintegration under pressure rather than product flaws or market misjudgments, highlighting the critical nature of resilience [6][9] Group 1: Definition and Importance of "Bearing Responsibilities" - "Bearing responsibilities" means facing challenges head-on, maintaining composure under pressure, and actively seeking solutions rather than avoiding problems [3][4] - This capability is a composite requirement of mental resilience, accountability, and the ability to confront uncertainty and risks [4][5] Group 2: Consequences of Failing to "Bear Responsibilities" - Teams that fail to confront challenges often experience a loss of morale and cohesion, leading to a downward spiral of performance [6][9] - Successful teams, like SpaceX, demonstrate that unwavering commitment to overcoming failures can lead to significant breakthroughs, such as the development of reusable rockets [6][8] Group 3: Principles for Founding Teams - The first principle is to treat problems as essential for survival, promoting transparency and proactive problem-solving within the organization [11] - The second principle emphasizes the need to deeply analyze failures to prevent recurrence and foster innovation [12][13] - The third principle stresses the importance of disciplined decision-making, avoiding emotional reactions that can lead to hasty retreats [16][18] Group 4: Cultivating the "Bearing Responsibilities" Gene - Organizations should implement rigorous testing and training to develop resilience among team members, drawing from Eastern philosophies that emphasize calmness under pressure [22][23] - Establishing a culture that values emotional stability and collective responsibility can help mitigate the risks associated with team disintegration [24][26] Group 5: Identifying and Mitigating "Pseudo-Resilience" - Companies must be aware of individuals who may undermine the team's ability to bear responsibilities, such as opportunistic members who avoid accountability [27][29] - Implementing mechanisms to ensure commitment and collaboration can help prevent the erosion of the "bearing responsibilities" gene within the team [30][31]

Group 1: Core Insights - The China Securities Regulatory Commission (CSRC) has implemented measures to enhance the quality and efficiency of companies listed on the Sci-Tech Innovation Board (STAR Market), with over 470 companies expected to disclose their annual improvement plans for 2024 and 479 for 2025, representing over 80% of the board [1] - Companies are focusing on innovation-driven strategies, increasing R&D investments, and pushing for the practical application of patented technologies, with leading firms like Shengmei Shanghai committing to maintain R&D spending at around 15% of revenue by 2025 [1] - More than 60% of STAR Market companies have announced cash dividend plans for 2024, totaling over 38.6 billion yuan, with over 290 companies planning dividends exceeding 30% of their profits [2] Group 2: Mergers and Acquisitions - Mergers and acquisitions are becoming a key strategy for STAR Market companies to rapidly acquire technological capabilities and enhance competitiveness, with companies like Huahai Chengke planning significant acquisitions to break through overseas technology monopolies [3] - Completed acquisitions are transitioning into deeper business cooperation and technological collaboration, as seen with Zhongchuan Special Gas's acquisition of Huai'an Pairui Gas and Sanyou Medical's acquisition of French orthopedic firm Implanet [4] Group 3: Investor Relations and Engagement - Companies are enhancing communication with investors, with Haiguang Information planning multiple investor relations activities, including at least three performance briefings and six investor research activities in 2025 [5] - Jinpan Technology aims to host open days for investors to visit its digital factory, while China Resources Microelectronics is focusing on international investor engagement through online and offline roadshows [5]

店里一位工作人员说，当天早上客流量不错，点非咖产品的消费者明显增多。她预计下午单量提升会更显著，通常早上以咖啡类消费为主，下午则是非咖饮 品的消费高峰。 此次星巴克对星冰乐、冰摇茶、茶拿铁三大非咖系列产品实施降价，最高降幅达6元。调整后，多款饮品价格进入20元区间。星巴克希望以价换量，打开下 午茶市场，并适配下沉市场开店战略。 餐饮连锁专家王冬明指出，咖啡茶饮行业"内卷"已十分严重，星巴克不得不被动卷入竞争。但作为头部品牌需维持形象，因此选择先对非咖啡产品降价，这 是相对体面的价格调整方式。他预判，未来星巴克很可能会对咖啡产品进行降价。 首次产品直降 6月10日是星巴克非咖产品降价的首日，这也是星巴克进入中国25年来首次主动下调产品价格。 早上9点多，北京望京凯德MALL商场尚未正式营业，商场一层的星巴克门店已有不少顾客。工作人员在询问点单需求时，会主动提及非咖产品降价信息， 并帮助顾客累计积分、查看优惠券。 6月10日，星巴克中国门店的价签迎来历史性变化：星冰乐、冰摇茶、茶拿铁三大系列共10款产品集体降价，以大杯规格计算，消费者平均每杯能省下5元。 这是星巴克入华25年来首次直接下调产品价格，打破以往仅通过 ...