今年，慕尼黑国际汽车及智慧出行博览会（IAA）的舞台上，一股来自中国的"智驾力量"以前所未 有的声势，改写着全球自动驾驶产业的叙事格局。 在这场备受瞩目的行业盛会上，中国智驾企业集体亮相，充分彰显着全球化野心。轻舟智航正式启动全 球化战略，与芯片巨头高通Qualcomm达成深度合作，同时敲定在德国设立欧洲总部的关键布局。 Momenta宣布将与优步携手，于2026年在德国慕尼黑联合启动Robotaxi运营服务。地平线宣布成立欧洲 区总部，携手全球顶级Tier-1及合资、外资品牌客户共同推进智能驾驶技术的全球落地进程。卓驭科技 也宣布正式面向全球发布欧洲战略。 从技术研发的"闭门造车"到全球化生态的"开门共建"，中国自动驾驶企业的"出海"路径正变得愈发清 晰。过去，中国企业更多是在国内市场打磨技术、积累数据；如今，它们主动走出舒适区，带着经过本 土市场验证的算法、硬件与解决方案，在全球舞台上寻找合作伙伴，拓展应用场景，也为全球自动驾驶 产业的加速落地注入"中国动能"。 全球化：锁定长期生存权的必然选择 中国智驾企业加速推进全球化布局，并非单纯的市场扩张，而是在行业特性与国内竞争格局双重驱动下 的战略必然，核心逻 ...

《亚洲品牌500强》是亚洲地区最具权威性和国际影响力的品牌评价体系之一，被誉为亚洲品牌价值 的"试金石"。能入选该榜单，意味着企业在综合实力、区域声望和未来潜力上都获得了行业的高度认 可。 作为本次榜中唯一定位物流与供应链管理领域的科技生态企业，日日顺供应链的发展路径颇具代表性。 它自2000年成立以来，经历了从企业物流到供应链企业，再到如今的生态平台三次关键变革，目前已转 型为覆盖汽车、新能源、冷链等十多个行业的端到端智慧供应链平台。 纵观这七家上榜企业，它们的上榜无一不是精准把握了当前物流行业的核心转型要求。在AI数字化转 型、全球化布局等方面全面领跑行业，推动行业向"技术驱动"与"全球协同"跃迁。例如，日日顺供应链 在数字转型层面，近年陆续推出数字库存、AI数字云仓、智能寻仓等项目，直击行业痛点，实现降本 增效；在全球化层面，构建"端到端"的国际化供应链服务体系，形成差异化路径，有效提升了跨境业务 的灵活性。 这七家企业的上榜，为亚洲物流行业指明了清晰的方向：未来的领先者，必然是那些能够将智能技术深 度融入业务，并拥有灵活、可靠全球服务网络的企业。同时也用实践表明，物流行业的竞争从价格与规 模之争，转向 ...

9月26日，第十五届河南投洽会在郑州召开，大会系列主题活动之一"豫港合作·链接全球"交流推介活动 同期举办，豫港两地与会代表围绕跨国供应链管理、风控及融资等展开深入交流，共同推动两地经济高 质量发展。 香港和河南两地合作有着扎实的基础。从"三趟快车"保障香港物资供应，到如今河南产品经"港"出海， 销售全球；从港企投资河南，到越来越多豫企赴港上市，今天的香港不仅是我省第一大外资来源地、豫 企"走出去"的首选平台，更是河南的重要经贸伙伴。 在项目推介环节，香港特别行政区政府多位负责人，就运输及物流、工业领域香港供应链产业及环境情 况、金融服务等内容，向河南企业进行了热情推介。 "河南是制造业大省，下一步一定会有诸多企业需要谋求全球化布局，香港可以成为河南企业未来管理 全球供应链的理想平台。"香港特别行政区政府驻武汉经济贸易办事处主任蔡敏君表示，"希望通过今天 的活动，向更多的河南企业介绍香港，也让香港的朋友更加了解河南，实现全球总部在河南，国际总部 在香港的新架构，让香港的各种优势成就大家的国际化发展。" 今年3月3日，诞生于河南的民营企业蜜雪冰城股份有限公司正式在港交所挂牌上市。活动中，蜜雪冰城 股份有限公司公 ...

Core Viewpoint - The announcement of a 100% tariff on patented and branded drugs by the Trump administration starting October 1, 2025, aims to pressure pharmaceutical companies to relocate production to the U.S. [1] Market Reaction - Global pharmaceutical stocks, including Pfizer and Merck, experienced declines of over 2% in the U.S. market, while related stocks in A-shares and Hong Kong also fell significantly, impacting companies like Kanglong Chemical and Kylin Pharmaceutical [3] Policy Background - The tariff policy is not sudden; it has been hinted at since April, with escalating threats of high tariffs on imported drugs. Economists warn that such high tariffs could disrupt supply chains and potentially increase drug prices for U.S. consumers [4] Impact on Chinese Pharmaceutical Companies - Chinese innovative pharmaceutical companies face both challenges and opportunities. Short-term market volatility is expected, but the established global competitiveness of Chinese firms may allow them to adapt by accelerating overseas production to avoid tariffs [5] Industry Outlook - The fundamental drivers of innovative drug development remain unchanged despite national policies. China's pharmaceutical industry is transitioning from a "big pharmaceutical country" to an "innovative pharmaceutical powerhouse," with significant advancements in cutting-edge fields like stem cell and gene therapy [6]

21世纪经济报道记者 季媛媛 随着中国创新药企在肿瘤与自身免疫疗法领域的激烈竞争，这些企业正从依赖故事营销转向以数据驱动 的创新战略，同时采取多元化的融资策略以确保生存和发展。 "资本寒冬教训深刻，企业更注重管线聚焦、数据差异化及现金流管理，从'讲故事'转向'拼数据'。"有 业内人士点出了当前Biotech企业的生存法则。 Wind数据显示，截至9月15日，年内在港上市的61家公司中，按第18A章规则上市的生物科技公司有10 家，合计首发募资额约80.50亿港元。对比来看，去年全年仅有4家此类公司在港上市，合计首发募资额 仅15.12亿港元。与此同时，2025年第二季度中国创新药对外BD首付款金额高达17.3亿美元，远超同期 中国生物医药投融资金额6.9亿美元。 在肿瘤和自身免疫这两大热门赛道同质化竞争的背景下，未盈利生物技术公司正在通过策略调整寻求新 的增长点。 科望生物医药科技有限公司联合创始人兼CEO纪晓辉博士国际免疫创新研讨会前夕对21世纪经济报道记 者表示，肿瘤和免疫两大疾病领域竞争激烈，众多企业参与其中，源于尚未满足的疾病治疗需求极为庞 大。以肿瘤领域为例，众多公司纷纷布局，全球约70%的制药公司 ...

在国内神经介入器械市场以36.5%复合年增速加速扩容（2022年至2028年）、国产替代进程显著提速的行业背景下，头部企业的动向正成为市场聚焦的核 心。 近日，心玮医疗正式披露2025年度中期报告，上半年营收同比增长44.4%至1.86亿元、净利润5090万元实现扭亏为盈的业绩尤为亮眼。 | | 截至2025年 6月30日止 | 截至2024年 6月30日止 | | | --- | --- | --- | --- | | | 六個月 | 六個月 | 同比雙動 | | | 人民幣千元 | 人民幣千元 | | | | (未經審計) | (未經審計) | | | 收益 | 185,522 | 128,484 | 44.4% | | 毛利 | 126,599 | 82,281 | 53.9% | | 手利率 | 68.2% | 64.0% | 4.2個百分點 | | 銷售及分銷以及行政開支 | 68.729 | 57,520 | 19.5% | | 研發成本 | 20,618 | 31,752 | -35.1% | | 除税前利潤/(虧損) | 49.011 | (3.198) | 1.632.6% | | 期內利潤 ...

Core Insights - The article highlights the remarkable growth of Sailun Group, which has successfully positioned itself among the top 500 private enterprises in China and within the top ten global tire brands, showcasing its transition from manufacturing to intelligent manufacturing and global presence [1][11] Group 1: Technological Innovation - Sailun has tackled the long-standing "devil's triangle" challenge in the tire industry, which involves optimizing rolling resistance, wet traction, and wear resistance simultaneously [2] - The company has developed the "Liquid Gold" tire, a significant innovation that addresses this challenge and has been recognized as a milestone in rubber tire industrial history [2][6] - Sailun's R&D investment has seen an annual growth rate exceeding 20%, with over 2,000 domestic and international patents, reflecting its commitment to technological advancement [3][4] Group 2: Product Development - The launch of the "Color Edge Tire" represents a blend of aesthetic innovation and advanced technology, maintaining the performance benefits of the Liquid Gold technology while introducing vibrant colors [5][6] - The Color Edge Tire incorporates proprietary technologies such as ARMORSEAL self-sealing technology and SILENTTREAD noise reduction, enhancing its market appeal [6] Group 3: Global Expansion - Sailun has established manufacturing bases in multiple countries, including Vietnam, Cambodia, Mexico, and Indonesia, with plans for further expansion in Egypt, aiming to enhance its global footprint [7][8] - The company operates under a "global factory" model, leveraging digital technologies to improve operational efficiency across its international production facilities [8] Group 4: Brand Strategy - Sailun has successfully transformed its brand image from a low-cost manufacturer to a recognized global player through strategic partnerships in high-profile events and innovative marketing campaigns [10][11] - The brand's value has significantly increased, ranking among the top ten global tire brands and achieving a brand value of approximately 112.9 billion yuan, reflecting its growing influence in the market [10][11]

Core Insights - The total social logistics volume in China reached 201.9 trillion yuan from January to July 2025, with a year-on-year growth of 5.2%, indicating sufficient supply to support the healthy operation of the national economy [1] - The logistics industry faces structural contradictions, with a need for improved efficiency and reduced costs [1] Group 1: Industry Trends - Demand growth in the logistics sector is shifting from rapid to moderate, expected to align closely with GDP growth, maintaining a range of 4%-5% [1] - The organizational structure is transitioning towards supply chain integration, requiring logistics companies to consolidate resources across the entire chain and offer comprehensive solutions [1] - Technological advancements are penetrating deeply into logistics, with "AI+" initiatives driving the intelligent transformation of warehousing, transportation, and scheduling processes [1] - The focus of development is shifting towards value creation, moving from merely reducing costs and improving efficiency to enhancing supply chain resilience and flexibility, supporting the exploration of "new consumption, new supply, and new value" during economic transformation [1] - Globalization and green low-carbon initiatives are becoming essential, with dual circulation strategies and green transformation policies guiding industry upgrades [1] Group 2: Cross-Border Logistics - The "Belt and Road" initiative and accelerated industrial overseas expansion have shifted cross-border logistics from a cost-driven approach to a new phase that emphasizes resilience, safety, and value creation [2] - The Beijing Municipal Bureau of Commerce is facilitating deep cooperation with logistics partners that possess global networks and localized service capabilities [2] - The "Beijing Enterprises Overseas Comprehensive Service Platform" provides policy information, legal, and financial services to support companies going abroad [2] - The Bureau plans to continue enhancing the "going out" service system, using efficient logistics networks to help Beijing brands and manufacturing enter global markets and gain competitive advantages [2]

Core Viewpoint - Hailan Home is planning to issue shares overseas (H-shares) and list on the Hong Kong Stock Exchange to enhance its global strategy, accelerate overseas business development, and improve its international brand image, amidst challenges of slowing revenue growth and declining net profit [1][2]. Group 1: Company Background and Financial Performance - Hailan Home, known as the "first stock of men's clothing" in A-shares, has a market value exceeding 30 billion yuan [1]. - The company reported a revenue of 20.957 billion yuan in 2024, maintaining the top position in the A-share apparel industry for six consecutive years, despite facing challenges such as a net profit margin decline to 10.45% and sales expenses reaching 4.841 billion yuan [2]. - The company’s inventory pressure has reached a historical high of 11.987 billion yuan [2]. Group 2: Strategic Initiatives - The company aims to establish an "A+H" dual financing platform through the Hong Kong IPO to attract international capital and optimize its capital structure [2]. - Hailan Home is undergoing a transformation from a family business to a modern enterprise by introducing professional managers and optimizing its board structure [4]. - The brand is focusing on two main reform lines: youthfulness and globalization, attempting to reshape its narrative and increase its presence in digital commerce [4][5]. Group 3: Market Challenges and Opportunities - Hailan Home faces significant challenges, including a brand perception as "dad's clothing," which is difficult to overcome despite launching sub-brands and collaborating with young idols [4]. - The company is expanding into Southeast Asia, the Middle East, and Africa, with overseas revenue reaching 206 million yuan in the first half of 2025, a year-on-year increase of 27.42% [3][5]. - The brand is competing against international fast-fashion giants like H&M, Uniqlo, and Zara, which presents a challenge in balancing cultural output and commercial profitability [5]. Group 4: Future Outlook - The IPO journey represents both a strategic expansion in capital and a generational breakthrough for the brand, reflecting broader themes of generational transition in Chinese private enterprises [6]. - The outcome of this strategic move may provide new paradigms and insights for the globalization and youthfulness of Chinese companies [6].

Core Viewpoint - Chery Automobile's listing on the Hong Kong Stock Exchange marks a significant milestone in China's automotive industry, transitioning from a "big automotive country" to a "strong automotive country" and leading the global smart mobility transformation [1][10]. Group 1: Company Overview - Chery Automobile, founded in 1997 in Wuhu, Anhui, has evolved from relying on foreign technology to establishing a strong foundation in independent research and development and global expansion [2]. - The company has built a global sales network covering over 100 countries and regions, with cumulative global sales exceeding 13 million vehicles [3]. Group 2: Financial Performance - Chery's revenue for 2022, 2023, and 2024 reached 92.618 billion, 163.205 billion, and 269.897 billion RMB respectively, with a compound annual growth rate (CAGR) of 70.7% [4]. - The net profit for the same years was 5.806 billion, 10.444 billion, and 14.334 billion RMB, with a CAGR of 57.1% [4]. Group 3: Globalization and Market Position - Chery has become the only company among the top twenty global passenger car manufacturers to achieve over 25% year-on-year growth in sales across electric vehicles, fuel vehicles, domestic, and overseas markets in 2024 [3]. - The company has transitioned from "product export" to "localized operations," establishing production facilities in Brazil and collaborating with EVMOTORS in Spain to enhance market responsiveness [3]. Group 4: Research and Development - Chery's R&D expenditure increased from 3.646 billion RMB in 2022 to 9.243 billion RMB in 2024, with a CAGR of 59.2% [6]. - The company has developed four core technology systems to support its global operations, including Kunpeng Power and Mars Architecture, and has over 14,000 R&D personnel [6]. Group 5: Product Strategy and Market Segmentation - Chery's product matrix includes five brands: Chery, Jetour, Exeed, iCAR, and Zhijie, catering to various market segments from mass-market to luxury [6][8]. - The Chery brand, with models like the Tiggo 8, leads in sales among Chinese brands in the global fuel vehicle market, while the Exeed brand ranks first in exports among high-end Chinese brands [8]. Group 6: Future Outlook - Chery plans to enhance its autonomous driving technology and smart cockpit systems, aiming to transition from a traditional automotive manufacturer to a provider of smart mobility solutions [9][10]. - The listing on the Hong Kong Stock Exchange is expected to facilitate Chery's access to global capital, driving innovation and collaboration within the Chinese automotive supply chain [10].