Core Insights - The article discusses the recent issuance of floating fee rate funds in the public fund industry, particularly focusing on the "Oriental Red Core Value Mixed Fund" managed by Zhou Yun, highlighting his long-term performance and investment philosophy [1][2]. Group 1: Fund Performance and Management - Zhou Yun has over 17 years of experience in the securities industry and has managed funds through multiple market cycles, achieving historical net values for his funds as of March 2025 [2][5]. - The "Oriental Red New Power Mixed Fund" and "Oriental Red JD Big Data Mixed Fund," managed by Zhou Yun, reached historical highs of 4.985 CNY and 3.070 CNY respectively by March 2025 [2][5]. - Zhou Yun's funds have demonstrated resilience during market downturns, with a focus on value investing and risk control, leading to superior long-term performance compared to peers [7][8]. Group 2: Investment Philosophy - Zhou Yun emphasizes a value investment approach, focusing on acquiring high-quality companies at low valuations, which he believes is fundamental for future returns [10]. - He practices contrarian investing, suggesting that while it is important to follow major trends, there is also value in selectively investing against the tide during market corrections [11]. - Zhou Yun's investment strategy incorporates a deep understanding of market cycles and trends, allowing for informed adjustments to his portfolio [12][13]. Group 3: Fund Characteristics and Strategy - The "Oriental Red Core Value Mixed Fund" is designed to cover both A-shares and Hong Kong Stock Connect, reflecting a comprehensive market approach [2]. - Zhou Yun's investment process is characterized by a low-correlation portfolio aimed at balancing risk and return, ensuring stability during market fluctuations [14]. - The fund's management strategy is built on probability thinking, focusing on the quality of companies while maintaining a flexible approach to portfolio adjustments based on market conditions [15].

"延安时期，陕甘宁边区政府出台了《陕甘宁边区惩治贪污暂行条例》《陕甘宁边区施政纲领》等一系 列制度法规，对贪污腐败等行为制定惩罚标准，还对政府机关工作人员伙食、路费、骑乘、办公场所等 都作出明确细致的规定……"近日，陕西省延安市杨家岭革命旧址讲解员高杨为前来参观学习的中国延 安干部学院某培训班60名学员讲述革命时期延安的纪律规定，让党员干部深刻了解延安时期从严治党的 力度。 作为革命圣地，延安具有丰富且珍贵的红色资源。延安市纪委监委坚持把廉洁文化建设作为一体推进不 敢腐、不能腐、不想腐的基础性工程，出实招、求实效，立足本地红色文化资源，将其与廉洁文化相融 合，帮助党员干部在传承红色基因、学习榜样力量的过程中筑牢拒腐防变思想防线。 "老一辈革命家身体力行形成的优良家风，穿越时空依然熠熠生辉、催人奋进。我将以先辈们为榜样， 把红色家风融入日常生活的点点滴滴，干净干事、清白做人。"在"五一"等重要节假日期间，延安红色 家风馆总会迎来参观热潮。2023年，延安红色家风馆被命名为延安市廉政教育基地。自开馆以来，参观 学习人员已突破12万人次。 延安各县（市、区）纪检监察机关注重从中华优秀传统文化、革命文化和社会主义先进 ...

走进企业制造中心，智能化生产线正高速运转。制造中心总经理胡传林透露，团队从原料熔炼工艺着手 研发，让铜、镍等原料的用量、配比成为"独家秘方"，产品抗拉、屈服、延伸等关键指标在同类产品中 位居前列。智能化数字化技术的加持，让工艺流程不断优化，"能够保证产品的机械性能优于行业规范 10%—15%。"胡传林说。 目前，企业在土耳其、阿联酋、越南、新加坡等国广泛开展业务，并多次参加德国、希腊、挪威等国的 航运海事业展览会，"预计未来3年，售后服务端的业务年均增长将会超过100%。"王通说。 据镇江市商务局外贸处处长吴凌云介绍，船舶海工装备产业链是镇江重点打造的"四群八链"之一，政府 持续支持企业参加境外海事展、投保出口信用保险，推动"保单+金融"合作，帮助企业争取船舶出口保 函资源储备。镇江海关数据显示，1—4月全市船舶累计出口11.2亿元，同比增长131.3%。 "全球海事工业界正掀起一场前所未有的绿色技术革命。"江苏科技大学船舶与海洋工程学院教师、南京 普宁船舶设计有限公司科技副总刘闽东认为，在航运业净零排放框架下，节能装置研发、全流程解决方 案等"中国智慧"，正重新定义全球海事竞争规则。 本报讯(记者薛诚陆威) ...

今天是5月29日星期四，如果大家今天紧盯股指的话，应该能够发现市场的走势验证了老索前期的判 断。在前期市场调整的时候，老索跟大家提到过，从技术形态上来看，市场在这个位置应该会有一波比 较深幅的调整。然而，目前市场最大的主力是汇金和央行，所以在这种强烈的干预态势下，市场资金不 敢无限制做空，因此市场在这个位置出现了高位横盘震荡的局面，并且今天开始出现了反抽。 老索个人认为，3400点应该不是今年的顶部。今天他要跟大家讲的其实并不是指数，而是市场中一个非 常令人迷惑的新概念——稳定币。今天市场中最大的热点可能是数字货币，而稳定币正是其中的关键。 稳定币的官方定义是一种锚定法币的加密货币，也就是说它锚定一个国家的真实货币，或者是锚定商 品、一揽子资产来保持价格稳定。它既是一种加密货币，又是一种数字货币，但背后有法币的支持。目 前，美元是稳定币背后的主要法币，虽然港元也在推行自己的稳定币，但目前最大的稳定币还是与美元 挂钩。 那么，为什么美元已经有了比特币，也有自己的支付系统，而且还是世界上第一大货币，却还要搞一个 稳定币呢？这其中的门道其实非常多，足以让人感到震撼。首先，对美元来说，最危险的事情就是全球 各个国家的 ...

艾夫斯在报告中写道："我们始终坚信，随着这场由'推动全球人工智能发展芯片'的英伟达所引领的第 四次工业革命的推进，英伟达在未来几年内有望实现4万亿美元市值，最终迈向5万亿美元市值。" 智通财经APP获悉，今早，英伟达(NVDA.US)发布第一季度财报业绩，股价飙涨近6%。即便是考虑到 近期美国对中国实施的出口管制，华尔街机构仍不吝溢美之词，纷纷盛赞英伟达远超预期的业绩与展 望，认为其表现堪称非凡。当下的世界仿佛属于英伟达，人们都生活在它的时代浪潮之中。 截至发稿，英伟达在盘前交易中上涨5.56%，有望重新夺回市值最高公司的桂冠。美国超微公司 (AMD.US)、迈威尔科技(MRVL.US)和博通(AVGO.US)等其他半导体企业的股价也纷纷跟涨。 Wedbush Securities分析师丹·艾夫斯(Dan Ives)形容该季度业绩"稳健"，即便将中国市场因素纳入考量， 有关需求的评论依然"非常积极"。 美国银行分析师维维克·阿雅(Vivek Arya)也上调了目标价(从160美元升至180美元)，并表示，鉴于人工 智能需求如今纳入了来自主权国家的庞大需求，他认为英伟达具备每股10美元的长期盈利潜力。 杰富瑞分 ...

Core Insights - The event "Global Ecological Day" was held by Geely's battery subsidiary, Jiyao Tongxing, showcasing its new brand identity "ENERGEE" and emphasizing its commitment to green energy [1][2] - Jiyao Tongxing aims to achieve a production capacity of 70 GWh by 2027, with eight production bases across China, and currently holds the largest capacity for short-blade batteries in the industry [2][4] Group 1: Brand and Vision - The new brand identity "ENERGEE" reflects the fusion of "ENERGY," "GEELY," and "GREEN," symbolizing Geely's vision for the future of green energy [2][4] - Jiyao Tongxing's five core values under the "GREEN" framework include Global Synergy, Revolutionary Leap, Ecosystem Win-Win, Environment Sustainability, and Nimble DNA [4][6] Group 2: Strategic Goals - Jiyao Tongxing is focused on global market expansion, providing high-performance lithium iron phosphate battery technology, and has established a joint venture with Renault for further collaboration [4][5] - The company emphasizes innovation as a key driver for transformation, aiming to enhance safety standards and explore new business models such as battery banks and battery swapping [5][6] Group 3: Product Development - The newly launched "Bricks Battery Super Hybrid Series" features advanced safety, fast charging, high power output, and long cycle life, with charging time reduced by 75% compared to conventional batteries [7][9] - The series utilizes innovative technologies to achieve significant improvements in safety and performance, including a 28% reduction in membrane thickness and a 30% increase in tensile strength [5][6] Group 4: Environmental Commitment - Jiyao Tongxing aims to establish a low-carbon, environmentally friendly battery recycling ecosystem, projecting a reduction of over 220 million tons of CO2 emissions by 2030 through long-life batteries [5][6] - The company is committed to achieving sustainability through advanced battery technologies and comprehensive measures [5][6] Group 5: Future Aspirations - Jiyao Tongxing envisions leading global innovation in the electrochemical industry and fostering a prosperous energy service ecosystem for vehicles and households [10] - The company calls for collaboration across the industry to achieve a win-win future in the competitive landscape of new energy [10]

Group 1 - The article discusses the historical context of industrial revolutions, emphasizing that each revolution is driven by scientific advancements and the flow of research results into industry, leading to exponential economic growth [3][5][11] - The emergence of artificial intelligence (AI) is positioned as a potential catalyst for the fourth industrial revolution, similar to previous technological breakthroughs [4][10] - The concept of "emergence" in AI models is introduced, highlighting that when data and model parameters reach a certain scale, significant improvements in accuracy and predictability occur [3][4] Group 2 - AI is identified as the most transformative technological force of the current era, with deep learning technologies achieving human-level performance in various tasks [5][11] - The launch of ChatGPT is noted as a significant milestone, marking the first instance of a machine passing the Turing test, which has implications for the future of AI and its applications [6][11] - The rapid growth of AI applications, exemplified by the Chinese company DeepSeek achieving 100 million users in just seven days, underscores the potential for AI to drive digital transformation across industries [8][10] Group 3 - The article emphasizes the need for a new paradigm in research and development to adapt to the complexities of the fourth industrial revolution, integrating academic knowledge with industry needs [13][14] - The importance of AI in transforming various sectors, such as automotive and healthcare, is highlighted, indicating that AI will redefine traditional roles and operational frameworks [12][14] - The concept of "endless frontiers" is referenced, suggesting that continuous efforts in AI research and application are essential for harnessing its full potential for societal benefit [14][15]

Group 1 - The 14th International Forum on Aircraft Avionics was successfully held in Shanghai, focusing on the theme of "Digital Intelligence and Multi-core Empowering the Future Green and Smart Development of Avionics" [1][3] - The forum lasted for two days, featuring 38 specialized presentations and attracting over 600 industry professionals from more than 100 organizations, including government agencies, aircraft manufacturers, avionics system suppliers, and research institutions [3][4] - The Vice President of the China Aviation Society highlighted three core directions for avionics systems: digital intelligence, multi-core technology, and green and smart development [4] Group 2 - The Chairman of AVIC Avionics Systems emphasized that avionics technology is crucial for flight safety and economic efficiency, proposing three action initiatives: building a next-generation avionics architecture, promoting green aviation, and deepening global collaborative innovation [5] - Key discussions during the forum included topics such as airworthiness regulation systems, intelligent flight control systems, advanced testing technologies, and eVTOL (electric vertical takeoff and landing) [5]

Core Insights - The hair salon industry is facing a significant closure trend, with over 300,000 salons expected to shut down in 2024, and closure rates projected to reach 18.73% in first-tier cities and 26.3% in third- and fourth-tier cities by 2025 [2] Group 1: Operational Challenges - The reliance on prepayment models, such as "pay 5000 get 2000 free," has led to a cash flow dependency that shifts operational focus, resulting in a fragile financial structure [2] - Over 70% of consumers express dissatisfaction with aggressive upselling practices, with 58% of high-end salon customers leaving due to excessive marketing efforts [2] Group 2: Cost Pressures - Rental costs in prime commercial areas are significantly higher, with a 50㎡ salon in Shanghai's Jing'an district costing 40,000 to 60,000 yuan per month, three times the cost of community shops [3] - The average monthly salary for skilled hairdressers is around 8,000 yuan, but the industry faces a high turnover rate of 37% and a low retention rate of less than 20% for new hires, exacerbating service quality issues [3] Group 3: Changing Consumer Behavior - The sales of home hair clippers are expected to surge by 210% in 2025, leading to a decrease in salon visits from once a month to once every six months for male customers [4] - A significant portion of Gen Z males (43%) are opting for self-managed hairstyles, while the use of hairpieces among female consumers has risen to 29% [4] Group 4: Market Dynamics - There is a misalignment in pricing strategies, with 60% of salons charging over 68 yuan per visit experiencing low foot traffic, while community salons charging below 30 yuan have an 82% survival rate [6] - The oversupply of salons is evident, with one community in Hangzhou having 23 salons for a population of 15,000, while profitability requires a minimum of 3,000 residents per salon [6] Group 5: Path Forward - The case of a community salon in Shenyang, which offers haircuts for 15 yuan without membership cards, demonstrates that focusing on basic service quality and customer trust can lead to higher foot traffic and potential recovery for the industry [6]

编辑 | 小白 长久以来，石油化工被认为是典型的"靠天吃饭"产业，一个国家的产业发展程度，几乎取决于其天然 油田的资源禀赋。 坐拥码头稀缺资源，全球最大的乙烷运输船队护航。 作者 | 萧瑟 2011年以来，美国的原油、天然气产量双双飙升至全球第一，不仅实现了长期渴求的能源独立，还大 大冲击到了过去欧佩克主导的供给格局。 那么问题来了，站在我们的角度，美国人的页岩气革命红利，有没有中国企业从中分得蛋糕呢？ 答案自然是有的。 但进入21世纪后，这条定律第一次受到科技进步的冲击。随着水平钻井和水力压裂技术不断改进，过 去被认为无法开采的页岩层油气得以重见天日，并很快被大规模开发，这便是美国大名鼎鼎的"页岩 气革命"。 ...