Group 1: Company Overview - Qianhai Company, established in May 2014, operates with a dual headquarters model in Hong Kong and Shenzhen, providing payment solutions across over 200 countries and regions [3] - The company offers more than 500 payment product technical supports for various sectors including cross-border trade, tourism, and digital entertainment [3] - Qianhai Company holds PCI DSS LEVEL 1 security certification and qualifications from major international payment systems, ensuring safe and efficient payment solutions for global merchants and consumers [3] Group 2: Strategic Insights - Qianhai's chairman, Liu Chaofeng, emphasizes the importance of elevating brand strategy to a core development level, moving beyond traditional ODM manufacturing [3] - Companies are advised to focus on differentiated market demands and avoid broad, unfocused market strategies, instead creating benchmark products through refined operations [3] - It is recommended that firms leverage their core advantages and innovate in technology and service to build competitive barriers in the international market [3] Group 3: Industry Challenges and Support - The chairman of the Furniture Association, Hou Keping, highlights the impact of fluctuating international trade policies on the furniture industry and calls for more government support in policy assistance and international cooperation [4] - There is a suggestion for the government to establish special funds to support industry associations, ensuring they can effectively serve their member companies [4] - The research team acknowledges the Furniture Association's significant contributions to the development of traditional industries and brands in Shenzhen [6]

Core Viewpoint - The legal opinion letter from Guangdong Sundial Law Firm confirms that Shenzhen Oat Technology Co., Ltd.'s differentiated dividend distribution plan for 2024 complies with relevant laws and regulations, ensuring no harm to the company's or shareholders' interests [6][10]. Group 1: Differentiated Dividend Distribution - The differentiated dividend distribution is based on the company's share repurchase plan, which involved repurchasing shares that do not participate in profit distribution [7][8]. - The company plans to distribute a cash dividend of 5.00 yuan per 10 shares (including tax) to all shareholders, without capital reserve conversion or bonus shares [8][9]. - The total number of shares participating in the distribution is calculated after deducting the shares held in the repurchase account, resulting in 143,854,292 shares eligible for the cash dividend [9]. Group 2: Legal Compliance and Impact - The legal opinion asserts that the differentiated dividend distribution adheres to the Company Law, Securities Law, and other relevant regulations, with no detrimental effects on the company or its shareholders [10]. - The impact on the ex-dividend reference price is minimal, with an absolute value change of less than 1% [9].

上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于江苏北人智能制造科技股份有限公司 差异化权益分派事项的 法律意见书 地址：上海市浦东新区银城中路501号上海中心大厦11、12层 电话：021-20511000 传真：021-20511999 邮政编码：200120 上海市锦天城律师事务所 关于江苏北人智能制造科技股份有限公司 差异化权益分派事项的 法律意见书 致：江苏北人智能制造科技股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受江苏北人智能制造科技 股份有限公司（以下简称"公司"）的委托，根据《中华人民共和国公司法》 （以 下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、《上 市公司股份回购规则》《上海证券交易所上市公司自律监管指引第 7 号——回购 股份》等有关法律、法规、规章及其他规范性文件以及《江苏北人智能制造科技 股份有限公司章程》（以下简称"《公司章程》"）的有关规定，就公司 2024 年度 利润分配所涉及的差异化权益分派（以下简称"本次差异化权益分派"）相关事 项出具本法律意见书。 为出具本法律意见书，本所及本所律师审查了公司提供的本次差异 ...

Core Viewpoint - Shenzhen Oat Technology Co., Ltd. announced its 2024 annual profit distribution plan, which includes a differentiated cash dividend of 0.50 RMB per share [1][3]. Distribution Plan - The profit distribution plan was approved at the 2024 annual shareholders' meeting held on May 15, 2025 [1]. - The company will distribute a cash dividend of 5.00 RMB for every 10 shares held, with no capital reserve transfer or stock bonus [2]. - The total number of shares eligible for distribution is 143,854,292 after excluding the repurchased shares [2]. Dividend Calculation - The cash dividend per share is calculated as approximately 0.4940 RMB, based on the adjusted total shares [3]. - The ex-dividend reference price will be the previous closing price minus the cash dividend amount [3]. Relevant Dates - Key dates include the record date, ex-dividend date, and cash dividend payment date, which are specified in the announcement [3]. Tax Implications - For individual shareholders holding shares for over one year, the cash dividend is exempt from personal income tax, while those holding for less than one year will have tax withheld upon stock transfer [5][6]. - For Qualified Foreign Institutional Investors (QFII), a 10% withholding tax applies, resulting in a net cash dividend of 0.45 RMB per share [6]. - Hong Kong investors will also face a 10% withholding tax, with similar provisions for tax treaty benefits [6]. Consultation Information - For inquiries regarding the distribution, shareholders can contact the board office at the provided phone number [7].

国泰海通证券股份有限公司 关于苏州市味知香食品股份有限公司 关于差异化权益分派特殊除权除息的业务申请的核查意见 国泰海通证券股份有限公司（以下简称"保荐机构"、"国泰海通"）作为 苏州市味知香食品股份有限公司（以下简称"味知香"、"公司"）持续督导的 保荐机构，根据《证券发行上市保荐业务管理办法》《上海证券交易所股票上市 《上海证券交易所上市公司自律监管指引第 7 号——回购股份》 规则》 《上海证券 交易所上市公司自律监管指南第 2 号——业务办理》等有关规定，就味知香差异 化权益分派特殊除权除息的业务申请事项进行了审慎核查，发表核查意见如下： 一、审议通过的差异化权益分派方案 公司将按照以下公式计算除权除息开盘参考价： 除权（息）参考价格=（前收盘价格-现金红利）÷（1+流通股份变动比例） 公司于 2025 年 4 月 25 日召开第三届董事会第六次会议审议通过了《关于公 司 2024 年度利润分配方案的议案》，公司 2024 年度拟以实施权益分派股权登记 日登记的总股本扣除公司回购专用证券账户股份为基数分配利润，公司拟向全体 股东（公司回购专用证券账户除外）每 10 股派送现金红利人民币 3.60 元（ ...

华泰联合证券有限责任公司（以下简称"华泰联合证券"或"独立财务顾问"） 作为创新新材料科技股份有限公司（以下简称"创新新材"或"公司"）重大资产出 售及向特定对象发行股份购买山东创新金属科技有限公司100%股权并募集配套 资金暨关联交易的独立财务顾问，根据《上市公司重大资产重组管理办法》《上 海证券交易所股票上市规则》《上海证券交易所上市公司自律监管指引第1号— —规范运作》及《上海证券交易所上市公司自律监管指引第11号——持续督导》 等文件的有关规定，对创新新材2024年度利润分配所涉及的差异化分红事项进行 了核查，具体情况如下： 一、本次差异化分红的原因 创新新材分别于2025年4月23日、2025年5月15日召开第八届董事会第十二次 会议、2024年年度股东大会，审议通过了《关于2024年度重大资产重组事项业绩 补偿方案的议案》，公司于2022年完成重大资产重组，鉴于标的资产未实现2024 年度业绩承诺，业绩承诺方山东创新集团有限公司、崔立新、杨爱美、耿红玉、 王伟（以下简称"重大资产重组业绩承诺方"）将其已持有的上市公司351,363,722 股股份向公司补偿。2024年度应补偿的股份数量将由公司以人 ...

35岁的林夏（化名）第一次和我视频时，盯着刚发的工资条苦笑。数字看起来很漂亮，别人都羡慕她，但只有她自己知道，这背后藏着 多少心酸。因为就在发工资的当天，她颤抖着手签下了抗焦虑药的处方。 "大家都说我应该知足了，可为什么我越赚钱，越觉得自己像个行尸走肉？"林夏说这话时，眼里满是疲惫和无奈。 她的故事不是个例。 根据某招聘平台的数据，年薪50万以上的人群中，抑郁症筛查阳性的比例比普通员工高出42%。我们好像陷入了一个怪圈：薪水越来越 高，心里的空间却越来越小。 一、薪资，怎么成了无形的牢笼？ 心理学教授李明做了一个实验：他让两组人写下"自己觉得幸福需要的薪资"。 A组写的是自己当前收入的两倍，B组直接写具体数字。 三个月后，B组的人达成了目标，但他们的幸福感持续时间比A组短了67%。 这就解释了为什么那位月入不菲的产品总监，依然深夜借酒消愁——当薪资成了唯一衡量快乐的标准，我们就像不停在跑的仓鼠，永远 追不到终点。 某互联网大厂的匿名调查更让人震惊：因为薪资比较，团队协作效率每年损失了47个有效工时。神经科学研究显示，当我们知道同事薪 水比自己高时，大脑的活跃区域和被棍棒击打时的反应有83%重合！ 而网络上，" ...

Core Viewpoint - The communication industry is at a critical juncture requiring transformation, particularly in the Chinese market, which is characterized by a large user base and strong demand for 5G capabilities, yet faces challenges such as weak monetization and low user value [2][3]. Industry Overview - China has approximately 1.4 billion users, with the three major telecom operators generating around 1.96 trillion yuan in revenue, while the U.S. with 345 million users generates over 3.1 trillion yuan, and Japan with 125 million users generates over 1.3 trillion yuan [2]. - Despite leading in infrastructure coverage and performance, Chinese operators are experiencing a common industry issue of "incremental growth without revenue increase," which is exacerbated by the rise of mobile internet, cloud computing, and AI technologies [2][3]. AI Integration in Communication - AI applications in the communication sector can be categorized into two parts: AI for Network, which enhances network planning and management, and Network for AI, which ensures that telecom networks support future AI services effectively [3]. - The telecom industry has historically focused on providing consistent network connectivity, but declining revenues necessitate a shift towards platform-based network services that offer differentiated connections tailored to various applications and user needs [3][4]. Business Model Transformation - Ericsson aims to create higher value through differentiated network connections and assist the telecom industry in developing new business models, leveraging high-performance programmable networks and AI technologies [4][5]. - The challenge for enterprise users lies in upgrading networks to support more use cases and complex demands, with the benefits of differentiated network connections being clearer in terms of enhanced productivity [4][5]. Consumer Market Dynamics - In the consumer sector, Ericsson seeks to enhance user experience through superior and differentiated network connections, although the willingness to pay among users remains limited [4][5]. - The consumer market's size and subscription volume imply that even a small shift towards differentiated network services could lead to significant market changes [4]. Current Market Challenges - The scale of 5G commercial applications in China is still underdeveloped, and telecom operators are encouraged to pursue new use cases without waiting for complete technological maturity, emphasizing the need for synergy between business models and technology [6]. - Examples from the U.S. and Singapore illustrate how operators have built competitive advantages through differentiated network connections, highlighting the potential for similar strategies in the Chinese market [6].

Core Insights - The Chinese electric vehicle (EV) market is experiencing intense competition characterized by price wars, widespread losses among companies, and severe product homogenization, aptly described as "involution" [1][2] - To break through this competitive landscape, EV companies need to seek differentiated competitive paths, with cultural creativity empowerment emerging as a crucial strategy [4][6] - This strategic shift is moving the industry from a "performance competition" to a new track of "technology + cultural narrative," emphasizing the importance of cultural soft power alongside disruptive technology [4][6] Group 1: Current Market Dynamics - The price war is compressing company profits and altering consumer expectations, creating a market atmosphere where consumers anticipate lower prices over time [2] - As technological barriers diminish, the differentiation in core technologies such as battery systems and smart cabins is also decreasing, leading to increased marketing strategy homogenization [2] Group 2: Cultural Creativity Empowerment - Cultural creativity empowerment helps EV companies escape the traps of homogenized competition and price wars, establishing long-term competitive barriers and enhancing user loyalty and product value [6][8] - The transition from "functional consumption" to "cultural consumption" reflects a shift in consumer behavior, where modern consumers seek emotional resonance and identity expression through their vehicle choices [6][8] Group 3: Brand Differentiation and Value Creation - Unique cultural connotations and brand stories enable companies to establish distinctive brand images in consumers' minds, leading to price premiums and higher repurchase rates [8][12] - Cultural empowerment can expand brand boundaries, creating diverse revenue streams through IP licensing and cross-industry collaborations [11][12] Group 4: User Engagement and Community Building - By fostering interactive user relationships through cultural scenes and community activities, companies can create strong brand communities that enhance user engagement and reduce marketing costs [9][27] - The shift from one-way communication to co-creation with users transforms the user relationship, fostering brand loyalty and advocacy [27][30] Group 5: Strategic Implementation Paths - The closed-loop value chain for cultural creativity empowerment includes demand analysis, creative design, product development, brand building, market promotion, and user feedback, forming a complete system [14][18] - Specific paths for cultural creativity empowerment include building cultural IP, enhancing product design and user experience, creating immersive brand experience spaces, and developing community-driven initiatives [19][21][24][27][30] Conclusion - The future of the EV market will hinge on cultural depth and emotional value rather than mere technical specifications, with companies that successfully integrate cultural wisdom and modern technology poised to lead in the global automotive market [32][34]

盾博dbg发现在风云变幻的金融监管领域，又一关键人事变动引发广泛关注。当地时间周三，美联储理事米 歇尔・鲍曼(Michelle Bowman)获参议院批准，正式出任美联储负责监管的副主席一职。这一任命意义非 凡，它不仅为鲍曼个人的职业生涯添上浓墨重彩的一笔，更标志着特朗普总统任期内金融监管趋向宽松的 态势进一步深化，无疑将对美国乃至全球金融市场产生深远影响。 其二，鲍曼大力推动补充杠杆率(SLR)规则的修订工作。现行的 SLR 规则饱受批评者诟病，他们认为该规 则限制了银行购买美国国债等传统安全资产的能力，束缚了银行的资产配置灵活性，在一定程度上影响了 银行的资金运用效率和风险管理能力。财政部长贝森特在 5 月也曾公开表示，相关官员可能会在今夏放宽 这一资本要求，这与鲍曼的改革思路不谋而合，也预示着 SLR 规则的调整已箭在弦上。 鲍曼出身于五代银行家的家庭，身为共和党人的她，长期活跃于金融领域的公开演讲舞台，一直以来都是 "差异化监管" 的坚定倡导者。过往的言论和行动已然释放出强烈信号，一旦掌权，她将大刀阔斧地调整监 管优先级。与前任迈克尔・巴尔(Michael Barr)相比，鲍曼与银行业的关系更为紧密。 ...