▲ 戳蓝 色字关注我们！ "长期主义者往往能穿越周期，因为他们专注于创造真正的价值。——芒格" 兄弟们，你们知道上一次听到"4万亿"这个数字是什么时候？ 08年全球金融危机救市——那时候单位还是人民币。 现在谷歌市值逼近4万亿了，单位是美金。 1月初的数据，谷歌刚刚反超苹果，坐上全球市值第二的位置，3.97万亿美元，仅次于英伟达的4.5万亿。 你可能会想，哎，一个靠搜索广告吃饭的"传统"互联网公司，凭什么在AI时代还能这么能打？ 今天咱们就来拆解一下，谷歌到底做对了什么——更重要的是，它有没有可能在2026年超越英伟达，坐上全球第一的宝座。 一、被忽视的核心：现金流带来的安全感 去年谷歌广告收入超过2400亿美金，占总收入的77%左右。 这里面大头是搜索广告，YouTube和Android生态的商业化效率也是真的高。 目前全球能做到这种"流量-变现"效率的，除了谷歌，也就字节跳动了——字节的穿山甲在安卓端占到接近36%的广告联盟市场份额，iOS端谷 歌AdMob还是霸主，占了六成。 但这里有个关键差异：字节近70%的收入来自广告，跟谷歌结构很像，但字节没有云、没有硬件、没有那么多"登月计划"可以烧。 谷歌不一 ...

十五五规划开局之年，科技自立自强、产业升级转型、发展新质生产力成为国家战略核心导向。杨浦区科创促进会会长夏立成在致辞中指出，科创之路无捷 径可走，唯有"立长志"锚定航向、"创长业"穿越周期、"存长情"汇聚合力，才能收获时间带来的复利式成长。上海市杨浦区投资服务发展中心党总支书记杨 菊芳也强调，希望全体科创人以长期主义为精神底色，在科技创新浪潮中坚定方向、勇毅前行，共同书写杨浦科创事业新篇章。 作为深耕资本领域超二十年的资深从业者，李亚在演讲中精准把握时代脉搏。他指出，国家重大战略的落地，亟需摒弃短期套利思维的"耐心资本"——这类 资本应真正理解产业规律、尊重企业成长周期，陪伴科创企业走过技术研发的攻坚期、市场拓展的爬坡期、商业模式的迭代期。这一观点与近期国家启动的 万亿级创业投资引导基金理念高度契合，该基金以20年超长存续期、70%资金投向种子期与初创期企业的刚性约束，释放了国家资本陪伴硬科技企业"长 跑"的强烈信号。 双向奔赴指南：企业如何选对资本，资本如何做好陪伴 针对科创企业成长痛点，李亚在演讲中提出"企业选择耐心资本三看标准"：一看投资逻辑是否聚焦国家战略赛道，具备长期深耕的产业定力；二看服务能力 是 ...

Core Insights - The article highlights the career transition of Lan Momo, who shifted from material value delivery in television shopping to focusing on spiritual growth and personal development through training services [3][4]. Group 1: Career Journey - Lan Momo has a 20-year career that began in television shopping, where she spent a decade conveying material beauty before transitioning to the new media sector and ultimately joining Harvard's Shen Simple Psychology team [3]. - The shift in her career was driven by a deep reflection on life's meaning, leading her to explore personal growth and the essence of human development as an evolution of energy and frequency [3]. Group 2: Training Philosophy - Lan Momo introduced the unique concept of "reverse driving" in life, which aims to help participants clear distractions and negative emotions to return to their authentic selves [4]. - The training design emphasizes a warm and accepting atmosphere rather than a painful growth experience, significantly enhancing participant engagement, with related metrics showing several-fold increases year-on-year [4]. Group 3: Empowerment through Technology - Xiaoe Tong plays a crucial role in Lan Momo's training framework, enabling a closed-loop companionship design where experienced participants guide newcomers, alleviating feelings of loneliness [4]. - The training model incorporates the latest research findings from prestigious institutions, ensuring that the training remains relevant and effective while enhancing the overall experience through gamification and quality content [4]. Group 4: Future Plans - The team plans to further optimize the training model using Xiaoe Tong's evolving features, focusing on helping participants master core competencies such as self-completeness and interpersonal empowerment [5]. - By 2026, the goal is to deepen the training effects and assist more individuals in clearing distractions and focusing on their objectives, having already trained over a hundred professional consultants [5]. Group 5: Conclusion - Lan Momo's case exemplifies how Xiaoe Tong empowers individual entrepreneurs to achieve long-term success, showcasing cross-industry transformation stories and supporting non-standardized training services for scalable impact [6].

在追逐财富自由的漫漫长路上，我们往往容易被宏大的叙事和高深的策略所吸引，却忽略了脚下最坚实的那块基石。真正的财富觉醒，并非始于某个神秘的 契机，而是源于我们对第一笔资金的郑重对待与智慧打理。这不仅是数字的游戏，更是对自我欲望、认知格局与人性弱点的初次交锋。理好这"第一笔钱"， 是我们向财富自由发出的第一封正式信函，也是我们构建未来财务大厦的奠基之礼。 1. 重新定义"钱"的本质 在迈出第一步之前，我们必须先打破固有的认知枷锁。对于普通人而言，钱往往等同于消费能力的凭证，是满足当下欲望的工具。然而，在财富自由的语境 下，钱首先应该是"种子"，是能够通过复利效应不断生长的资本。理好第一笔钱，核心在于转变思维——从"我这个月能花多少钱"的消费者心态，转变 为"我如何让这笔钱为我工作"的资产构建者心态。每一分钱，都应被审视它是否具备转化为资产的潜力，还是仅仅沦为转瞬即逝的负债。 2. 直面人性的弱点：延迟满足与克服短视 理财的第一步，本质上是一场与人性本能的博弈。人性天然倾向于即时满足，倾向于高估当下的需求而低估未来的风险。理好第一笔钱，就是有意识地训 练"延迟满足"的能力。这意味着我们需要为那笔可能微不足道的本金， ...

1 亏损的真相：短期波动难撼长期信仰 林园将亏损归因于持仓标的的短期价格波动，并明确表示不会因此调整核心策略。他始终聚焦具备稳定 需求的行业，尤其是与"嘴巴经济"紧密相关的消费与医药领域。白酒、快消品、医药……这些行业的需 求刚性如同"铁律"，无论经济冷暖，人们吃饭、喝水、就医的需求不会消失。林园曾直言："我只投资 自己能看懂、能算清楚未来几年账的公司。"这种"能力圈"原则，让他在科技股狂欢时保持冷静，在地 产股暴跌时不为所动。 来源 投资与资管 根据私募排排网公布的数据，2025年林园投资私募大概率会出现年度亏损。细究其投资逻辑，会发现这 场亏损背后，是一场关于"长期主义"与"市场周期"的深刻博弈。 0 0 2 科技股：看得见的未来，握不住的命运 林园并非不看好科技，他承认人工智能是未来方向，但"几乎不会主动介入"。原因很简单：科技行业的 创新充满不确定性，龙头企业更迭如走马灯。他曾坦言，即便买了科技股，也会"愁得睡不着觉"，因 为"命运不掌握在自己手上"。这种对"确定性"的极致追求，让他选择远离科技股的狂欢，转而拥抱消费 与医药的"慢变量"。 0 3 银行、互联网、地产：为何坚决"不碰"？ 林园的投资清单 ...

市场领跑：销售额与市占率的双丰收 2025年，华润置地在长沙房地产市场继续保持强势表现。湖南中原研究院数据显示，其旗下两大明星项 目——长沙瑞府和长沙润府，分别以26.68亿元和16.18亿元的成交金额，强势占据2025年长沙市单盘销 售金额榜的第一位与第二位。双盘合计贡献超42亿元销售额，在TOP10楼盘成交总金额占比超过31%， 显示出强大的市场号召力和领先的市场占有率。 其中长沙瑞府以高端产品定位实现单价2万+市场占有率超50%，而长沙润府在总价180-350万主流改善 市场中，成交面积、金额、套数均位列全市前列。 | 6 | 湘江金茂府 | 开福区 | 11.97 | | --- | --- | --- | --- | | 7 | 招商蛇口江山境 湘江新区 | | 11.87 | | 8 | 中建翡翠天序 | 丽花区 | 10.73 | | 9 | 招商序 | 南花区 | 9.97 | | 10 | 邦泰观宸 | 开福区 | 9.54 | | 118 | 金茂璞印梅溪 湘江新区 | | 9.00 | | 12 | 招商蛇口天青府 湘江新区 | | 8.94 | | 13 | 鑫远紫越府 | 天心区 | ...

证券日报网讯 1月9日，柳工在互动平台回答投资者提问时表示，公司将继续秉持长期主义，以更优质 可靠的产品解决方案和服务赢得客户的信赖，实现可持续发展。 （文章来源：证券日报） ...

（编辑 王雪儿） 证券日报网讯 1月9日，中粮资本在互动平台回答投资者提问时表示，公司始终秉持长期主义与稳健经 营的核心价值观，面对市场周期性挑战，管理层通过强化主业韧性与优化资产配置积极应对，致力于平 滑业绩波动、夯实发展基础，以持续提升企业内在价值。在投资者关系方面，公司坚持透明、坦诚的沟 通，并通过制度化的回报规划，切实与股东共享发展成果。展望未来，公司将专注提升核心竞争力，以 稳健、可持续的业绩成长，回报股东的长期支持。 ...

Core Insights - Yueda Kia has shown impressive performance in 2025, achieving continuous sales growth and establishing itself as a significant player among joint venture brands in a highly competitive automotive market [1][2] Sales Performance - In December 2025, Yueda Kia sold 20,666 vehicles, maintaining over 20,000 monthly sales for ten consecutive months; total annual sales reached 253,964 vehicles, marking a 2.3% year-on-year increase and achieving positive growth for two consecutive years [2] - Globally, Kia's sales exceeded 3.135 million vehicles in 2025, a 2% increase, setting a record for the highest sales since its establishment in 1944 and ranking among the top three globally for four consecutive years [2] Market Strategy - Yueda Kia has adopted a "long-termism" approach, focusing on product quality and brand building to enhance its core competitiveness in the Chinese market [2][4] - The company has actively expanded its overseas market, exporting 537,000 vehicles and generating $5.83 billion in export revenue since November 2018, with a presence in 89 countries and regions [4] Brand Development - In 2025, Kia launched the brand slogan "Kia, Driven by Heart" and produced a brand film to convey the message that "cars are companions," enhancing brand influence [6] - Yueda Kia has engaged in various social responsibility initiatives, including AED training for car owners and sponsoring local sports teams, which have significantly improved brand image and recognition [8][10] Product Innovation - The company has established a dual-fuel strategy ("oil and electricity") to meet diverse consumer needs, with recent upgrades to several models including the new Sportage and EV5 [11][18] - The EV5, a strategic model produced in China, boasts a range of 720 km and is positioned as a high-quality, cost-effective electric SUV [15] Dealer Network and Customer Satisfaction - In 2025, Yueda Kia added over 60 new sales outlets, with more than 60% of dealers profitable, significantly outperforming the industry average [23] - The company achieved a customer satisfaction score of 799 in the J.D. Power 2025 China After-Sales Service Satisfaction Study, ranking second among joint venture brands [23][24] Future Outlook - For 2026, Yueda Kia plans to continue its "In China, For China" strategy, focusing on local marketing, brand recognition, and product quality management [25] - The company aims to launch three new global models in China, including the new Sportage, and leverage the "trade-in" policy to boost sales [27]

Core Insights - The global automotive market in 2025 is characterized as a "survival competition," with price wars in China and increasing penetration of new energy vehicles, leading to a shift from "price competition" to "value cultivation" [1] - Kia has emerged as a standout performer, achieving record global sales and revenue while maintaining positive growth in the Chinese market for two consecutive years, contrasting with many joint venture brands facing declining sales and profit pressures [1][2] Industry Trends - The automotive industry has moved away from the "big fish in a big pond" era, requiring companies to possess core capabilities to navigate through cycles successfully [2] - Kia's global sales reached approximately 3.1358 million units in 2025, a 2% increase year-on-year, marking the highest sales record since its establishment in 1944 [2] Growth Drivers - Kia's export business has been a significant growth engine, with cumulative exports of 537,000 vehicles and over 478,000 engines since November 2018, generating an export value of $5.83 billion [4] - The company's growth is built on a healthy profit structure, emphasizing product value and brand recognition, while maintaining a long-term commitment to the Chinese market [4] Channel Strategy - In a challenging environment where dealer losses are at an eight-year high, Kia has strengthened partnerships with local dealers, adding over 60 sales outlets and ensuring profitability for over 60% of its dealers [6] - Kia's inventory index stands at approximately 1.2, better than the industry average, reflecting its robust channel performance [6] Social Responsibility - Kia has maintained a commitment to social responsibility, contributing approximately 52.5 billion yuan in taxes over 24 years in China and investing over 110 million yuan in social initiatives [8] Strategic Positioning - Kia's strategy of "In China, For China" is not just a slogan but a comprehensive approach that integrates technology, products, manufacturing, and channels, marking its entry into the "Joint Venture 2.0 Era" [9] - The company has focused on diverse and personalized travel needs of Chinese consumers, launching core models like the new Sportage and EV5, which address key pain points in electric vehicle usage [9][11] Brand Development - In 2025, Kia introduced a new brand slogan "Kia, Driven by Heart," and engaged in various marketing activities to resonate with Chinese consumers [12] - The company has established a comprehensive service ecosystem, achieving high customer satisfaction ratings and reinforcing its commitment to quality service [12] Conclusion - Kia's approach provides a clear answer to the challenges faced by joint venture brands, emphasizing the importance of viewing the Chinese market as a strategic core and focusing on long-term, user-centered strategies across multiple dimensions [13]