一场没有大张旗鼓的国际试验 你可能还以为中百好物APP只是一款专注本地生鲜与消费投资的平台。但就在多数人还在讨论它的社区 裂变和商品模式时，它的海外扩张，已经在多个国家取得阶段性成果。 目前这件事尚未在官网或媒体正式公布，但从多个知情渠道汇总的动向来看，中百好物APP早已完成包 括日本、马来西亚、台湾、印尼等地的本地化试点，并取得了"出乎意料的反馈"。 不同于某些平台习惯以"出海"作为营销标签，中百好物选择了另一条路：安静地上线，低调地试水，有 效地复制。 据接近运营团队的消息透露，早在去年下半年，技术团队便已经完成中英文及多语版本的产品适配；东 南亚多个社区版块也悄然上线，采用本地品牌名、结合中百好物的投资逻辑进行推广。 更值得注意的是，在马来西亚槟城、日本大阪与印尼泗水，中百好物团队已联合当地生鲜渠道与物流 商，构建出相对完整的"线上预购+线下提货+社区合伙人"模型。 用户反馈：不是引进，而是落地融合 目前，中百好物APP在国内仍未大范围对外宣布其海外布局情况，但种种信号表明：它已经进入下一阶 段——海外商业化落地的正式启动。 品牌名称是否统一？未来是否设立海外独立品牌？用户是否可参与海外项目投资？这一切 ...

Core Insights - In the first half of 2025, eight major automotive groups reported a total sales volume of 11.18 million vehicles, all achieving year-on-year growth [1][2] - BYD maintained its leading position with over 2.14 million units sold, followed closely by SAIC Motor with over 2.05 million units [1][3] - Geely adjusted its annual sales target upward by 11% after achieving a 47% completion rate in the first half [1][6] Group Performance - **BYD**: Sold 2.146 million vehicles, a 33% increase year-on-year, with overseas sales reaching 472,000 units, up 132% [3][4] - **SAIC Motor**: Achieved sales of 2.053 million vehicles, a 12.4% increase, with a retail delivery of 2.207 million units [4][5] - **China FAW**: Reported sales of 1.57 million vehicles, a 6.1% increase, with a 46% target completion rate [6][10] - **Geely**: Sold 1.409 million vehicles, a 47% increase, with a significant rise in new energy vehicle sales [6][7] - **Changan**: Achieved sales of 1.355 million vehicles, marking a historical high, with new energy vehicle sales growing by 48.8% [8][9] - **Chery**: Sold 1.26 million vehicles, a 14.5% increase, with a strong export performance [9][10] - **BAIC Group**: Reported sales of 817,000 vehicles, a 6% increase, with a notable growth in its own brand sales [10] - **Great Wall Motors**: Achieved sales of 570,000 vehicles, a slight increase of 1.8%, but faced a decline in overseas sales [10] Target Achievement Rates - **Geely**: Highest target completion rate at 47% after adjusting its annual target [6][7] - **China FAW and SAIC Motor**: Both achieved a target completion rate of 46% [1][6] - **Changan**: Completed 45% of its sales target [1][8] - **Chery**: Achieved a target completion rate of 40% [1][9] - **BYD**: Completed 39% of its annual target [1][3]

转自：中国质量报 □ 本报记者 丁 莹 《2025全球汽车供应链核心企业竞争力白皮书》针对中国汽车零部件企业出海提出 以协同创新为桨 以智能驱动为帆 与会专家表示，全球化竞争不仅是企业间的较量，更是产业链生态的比拼。整车与零部件的协同、中企 与外企的共生、技术与市场的共振，缺一不可。中国汽车产业出海看似欣欣向荣，但阶段性的结构性变 化也体现出其背后的脆弱性和不确定性。 当前，汽车零部件行业在出海征途上正展现出前所未有的活力与韧性，越来越多的企业积极地向海外进 行产能布局，贴近目标市场建立生产基地和研发中心。与此同时，技术创新成为了驱动出海的核心引 擎。中国汽车零部件企业持续多年的研发投入和技术积累，开始在国际舞台上结出硕果。一些具备国际 领先水平的创新产品和技术方案，正逐步获得全球主流市场的认可。 在"出海中的企业能力转型"圆桌讨论环节，银轮股份、亿咖通科技、中国汽研、万丰集团等企业代表 就"出海繁荣下，还有哪些暗礁""国际化过程中亟待补足的能力项"等问题，从战略、技术、运营等多维 度展开了思维碰撞。万丰奥特控股集团管理中心总监董瑞平则提出对于海外竞争的担忧，呼吁中国零部 件出海不要把国内的"内卷"带向海外形 ...

Core Viewpoint - The article highlights the strong performance of the ChiNext index and key sectors such as consumer electronics and innovative pharmaceuticals, indicating potential investment opportunities in these areas. Group 1: Consumer Electronics - The consumer electronics sector experienced significant gains, with Industrial Fulian reaching a market capitalization of over 460 billion [3][4]. - Other notable stocks in this sector include Lens Technology, which rose by 11%, GoerTek by 4.6%, and Luxshare Precision by 5.5% [7]. - Related electronic component stocks also surged, with Jiuzhiyang increasing by 15% and several others hitting their daily limit [10]. - Supply chain news indicates that Apple's foldable iPhone is in the prototype development stage, with a projected launch in the second half of 2026 [10]. - The recent trade agreement between the U.S. and Vietnam may benefit Chinese manufacturers with established operations in Vietnam, allowing them to mitigate tariff risks [10]. - CITIC Securities remains optimistic about the electronic sector's potential for excess returns in the upcoming quarter, driven by domestic self-sufficiency and strong industrial demand [10]. Group 2: Innovative Pharmaceuticals - The innovative pharmaceutical sector saw a resurgence, with stocks like Guosheng Tang and Shenzhou Cell hitting their daily limit with a 20% increase [11]. - Recent policy support from the National Medical Products Administration aims to streamline the clinical trial approval process for innovative drugs, enhancing development efficiency [14]. - The National Healthcare Security Administration has introduced measures to support the high-quality development of innovative drugs, reflecting a growing industry momentum [15]. - Analysts note that China's innovative drug sector is gaining competitive advantages in areas such as ADC, bispecific antibodies, and cell therapy, with increasing global interest from major pharmaceutical companies [15]. Group 3: Hong Kong Market Trends - The Hong Kong market showed weakness, with the Hang Seng Index and Hang Seng Tech Index both declining by approximately 0.7% [16][17]. - Notable declines were observed in popular stocks such as Xiaomi, which fell over 3%, and Pop Mart, which dropped by 4% [17]. - Xiaomi's recent product launch has led to increased order volumes, but concerns over delivery timelines and tax policy changes may impact consumer purchasing decisions [20]. - Pop Mart's high valuation has sparked debate, with some viewing it as a bubble while others recognize its growth potential through effective IP management and platform integration [23].

比亚迪（002594.SZ）系列点评三十 海外销量再创新高 全球化稳步推进 2025 年 07 月 03 日 ➢ 事件概述：公司发布 6 月产销快报，6 月新能源汽车批发销售 38.3 万辆， 同比+12.0%，环比+0.03%；新能源乘用车批发销售 37.8 万辆，同比+11.0%， 环比+0.2%。分品牌看，6 月王朝海洋、腾势、方程豹、仰望销量分别 34.3 万 辆、15,783 辆、18,903 辆、205 辆。 ➢ 6 月批发同比增长 出口表现亮眼。公司 6 月新能源乘用车批发销售 37.8 万 辆，同比+11.0%，环比+0.2%，海外销量 9.0 万辆，再创新高。新能源乘用车 批发中，其中插混乘用车销售 17.3 万辆，同比-11.5%，环比-1.1%。纯电乘用 车销售 20.7 万辆，同比+42.5%，环比+1.2%。分品牌看，王朝海洋销量 34.3 万辆，秦 PLUS DM-i 5.0、海豹 06 等新车型贡献核心增量；腾势/仰望/方程豹 销量 3.49 万辆，占比 9.1%，高端化加速突破。 ➢ 出海表现亮眼 海外建厂加速推进。受益海外车型上量及区域拓展，6 月新 能源出口销量 9.0 万 ...

Core Viewpoint - The company BlueFocus Communication Group is pursuing a secondary listing on the Hong Kong Stock Exchange, aiming to leverage the A+H listing model, following the trend of major A-share companies expanding into Hong Kong [1][3]. Company Overview - Founded in 1996 and headquartered in Beijing, BlueFocus is one of the earliest public relations firms in China and currently the largest marketing communication group in the country [1]. - As of July 2, 2023, BlueFocus's stock price was 6.37 RMB, with a total market capitalization of 22.534 billion RMB [1]. Financial Performance - BlueFocus's revenue for 2022, 2023, and 2024 was reported as 36.683 billion RMB, 52.616 billion RMB, and 60.8 billion RMB respectively, with corresponding gross profits of 1.7 billion RMB, 1.789 billion RMB, and 1.53 billion RMB [3]. - The company experienced a decline in profit margins, with net profits of -2.177 billion RMB, 0.112 billion RMB, and -0.3 billion RMB for the same years, indicating a shift towards strategic investments in AI technology [3][4]. Strategic Initiatives - BlueFocus has adopted an "All in AI" strategy, developing a large model application engine called Blue AI, which has produced 137 AI-driven applications by the end of 2024, generating approximately 1.2 billion RMB in revenue [3][4]. - The company is also implementing a "Globalization 2.0" strategy, transitioning its cross-border marketing services to a localized and technology-driven model, with five overseas offices established in key markets [3][4]. Industry Trends - The global marketing industry is projected to reach a market size of 8.9 trillion USD in 2024, with a compound annual growth rate (CAGR) of 9.7% from 2020 to 2024, and is expected to grow to 14 trillion USD by 2029 [5]. - The Chinese marketing industry is anticipated to grow to 1.89 trillion USD in 2024, with a CAGR of 10% from 2020 to 2024, driven by digital transformation and increasing demand for brand establishment [5]. Market Dynamics - Two major trends are identified as growth engines for the marketing industry: the increasing demand for "overseas marketing" as Chinese brands expand globally, and the restructuring of the marketing value chain through AI technology [7][9]. - The digital marketing market in China is expected to exceed 1.2 trillion RMB by 2025, with the top 10 companies holding 60% of the market share, primarily due to their comprehensive service capabilities and AI technology advantages [8]. Competitive Position - BlueFocus is well-positioned to capitalize on industry opportunities due to its leading AI technology and global presence, despite facing short-term profitability challenges [9].

21世纪经济报道记者季媛媛 上海报道 2025年初，迪哲医药研发的肺癌靶向药舒沃哲 （舒沃替尼片）向美国FDA递交新药上市申请并获得优 先审评资格，这一消息在医药行业引起了广泛关注。就在7月3日，该药正式获得FDA批准上市，用于经 治EGFR Exon20ins晚期非小细胞肺癌（NSCLC）患者，成为中国首款独立研发在美获批的全球首创 （First-in-Class）新药。 美国是全球最主要的医药市场，FDA 获批不仅是对药物本身的认可，其商业化天花板也将更高，如百 济神州泽布替尼在2024年的全球销售额达到了188.59亿元（约26亿美元），同比增长106.4%。其中，美 国市场的销售额表现突出，达到了138.90亿元（约20亿美元）。截至2024年12月底，共有8款国产创新 药获FDA批准上市，包括泽布替尼、呋喹替尼、西达基奥仑赛、特瑞普利单抗等。 不过，本土创新药国际化路径究竟该如何走得更稳？从临床试验到FDA审评，从生产质量到商业布局， 中国药企能否实现一场全方位的国际化蜕变？ 此外，FDA关注对照组设计的合理性，例如是否采用标准疗法作为对照，以及长期安全性数据的收集， 特别是在针对肿瘤等慢性疾病的研 ...

Core Viewpoint - Chengdu Longquanyi District is experiencing significant economic growth, driven by industrial output, investment, and international trade, showcasing a sustainable development model through a "chain" thinking approach [1][12][17]. Economic Performance - From January to May 2025, the industrial added value in Longquanyi District increased by 18.3% year-on-year, while fixed asset investment grew by 2.3% [1]. - The total retail sales of consumer goods reached 15.84 billion yuan, marking a 7.7% increase [1]. - The foreign trade import and export total was 9.11 billion yuan, reflecting a 36.99% year-on-year growth [1][14]. Automotive Industry Growth - The automotive sector in Longquanyi District reported an operating income of 76.07 billion yuan, with a year-on-year growth of 16% and a production-sales rate of 103.7% [2]. - The Lynk & Co Z20 model debuted in Europe, priced at approximately 270,000 yuan, indicating strong international demand [5]. - The district has established a resilient automotive ecosystem, housing major manufacturers like FAW-Volkswagen and Volvo, and over 500 advanced auto parts suppliers [6]. Technological Innovation - High-tech manufacturing revenue in Longquanyi District reached 4.85 billion yuan, up 13% year-on-year, supported by over 500 high-tech enterprises [8]. - The Kunpeng drone company has successfully exported drones to Norway and the UAE, demonstrating the district's capability in high-tech exports [8]. - Chengdu Fangda Carbon's fourth-generation graphite products have begun mass production, showcasing advancements in domestic technology [9]. Strategic Development Initiatives - Longquanyi District is focusing on future industries, with projects in electric vehicles, high-end equipment, and low-altitude economy, aligning with national strategic emerging industries [10]. - The district's government is actively promoting international market access for local products through trade fairs and policy support [6][12]. Market Dynamics - The district's foreign trade has diversified, with significant growth in exports to ASEAN and Russia, indicating a strategic shift in market focus [14][15]. - The retail market is also thriving, with a 7.7% increase in consumer goods sales, driven by various promotional activities and events [15]. Sustainable Development Model - Longquanyi District's "chain" thinking integrates technology, products, markets, and capital, fostering a sustainable high-quality development model [17].

Core Viewpoint - A transformation is taking place in Qian Deng Town, Kunshan, aimed at enhancing the international competitiveness of enterprises through policy support and resource alignment, particularly focusing on global market expansion [1] Company Overview - Benrui Home Furnishing Co., Ltd. is a key cross-border e-commerce enterprise cultivated in Qian Deng Town, specializing in high-end customized furniture design, production, and sales [4][5] - The company aims to provide personalized, high-quality, and environmentally friendly home solutions to global customers, with a specific focus on the mid-to-high-end market in Australia [5][8] Market Positioning - Benrui Home Furnishing has established a strong presence in overseas high-end markets, particularly in Australia and New Zealand, and is expanding into other European markets such as Italy and Germany [8] - The company emphasizes meeting personalized customer needs, particularly in high-end custom series targeting overseas villas and townhouses [8] Production and Quality Control - The company uses high-quality materials that meet national and international environmental standards, including E0-grade environmentally friendly boards and imported hardware [8] - Advanced German production equipment and strict quality control systems are implemented to ensure that products meet the highest international quality standards [8] Government Support and Collaboration - The local government in Qian Deng Town provides tailored support for enterprises, facilitating their international expansion through various initiatives [9][10] - The government actively assists in building business trade systems and connecting enterprises with domestic and international trade events, enhancing their market outreach [10] - Future plans include increasing support for Benrui Home Furnishing to accelerate its transition towards smart manufacturing and green development [10]

Group 1 - The Hong Kong IPO market is experiencing a surge, with CATL's listing raising HKD 41 billion, marking the largest IPO globally in 2025 [1] - Year-to-date, the total IPO fundraising in Hong Kong has exceeded HKD 77.6 billion, a more than sevenfold increase compared to the same period last year, nearing 90% of the total fundraising for 2024 [1] - Factors driving this IPO boom include ongoing policy benefits, accelerated internationalization of Chinese companies, and continuous market reforms by the Hong Kong Stock Exchange [1][2] Group 2 - The introduction of the "Specialized Technology Companies" chapter in the Main Board Listing Rules allows unprofitable tech companies to list in Hong Kong, indicating a significant shift towards "hard technology" [3] - A growing number of tech companies, including black sesame intelligence and Horizon Robotics, are preparing for IPOs, covering various fields such as AI and semiconductors [3] Group 3 - The Chinese Securities Regulatory Commission has announced measures to support leading domestic companies in listing in Hong Kong, enhancing the listing mechanism to accommodate "A+H" listings [4] - Many A-share companies emphasize their "going global" strategies, with Hong Kong serving as a key channel for international expansion [4] Group 4 - Over 100 large enterprises are currently preparing for IPOs in Hong Kong, reflecting a strong interest in the market [5] - The demand for international financing among Chinese companies aligns with the national "going out" strategy, with Hong Kong acting as a base for fundraising [6] Group 5 - A significant number of quality companies, including Haitan Flavor Industry and Sany Heavy Industry, are preparing to list in Hong Kong, with potential liquidity needs estimated between HKD 150 billion to 180 billion [6][7] - The influx of quality companies is expected to enhance the vitality of the Hong Kong market and solidify its status as an international financial center [7]