在云南，刚采摘的松茸被装进定制包装箱，实现72小时精准保鲜。通过全货机空中专线，实现跨省最快7小时送达。 今年以来，我国快递行业逐步拓展航空运输、高铁快运等寄递综合运输方式，更多地区被纳入"次日达"服务圈。同时，无人车、无人驿站应用范围逐步 扩大，人工智能应用场景不断丰富。 央视网消息（新闻联播）：记者从国家邮政局了解到，今年以来我国快递行业加快数智化发展，提升服务质量。前7个月我国快递业务量累计完成 1120.5亿件，同比增长18.7%。 ...

Core Viewpoint - Neusoft Carrier (300183.SZ) experienced a significant decline in both revenue and net profit in the first half of 2025, despite being one of the few companies in China with a full industry chain capability [1][2]. Financial Performance - The company reported a revenue of 504 million yuan, a year-on-year decrease of 9.46% [1]. - The net profit attributable to shareholders was only 13.52 million yuan, down 76.36% from 57.21 million yuan in the same period last year [1][2]. - Cash flow from operating activities plummeted by 88.32%, indicating challenges in daily operations [1][5]. Business Segment Analysis - The core business segment, power line carrier communication products, saw a revenue decline of 19.65%, contributing significantly to the overall performance drop [2][3]. - The integrated circuit segment achieved a revenue of 142 million yuan, a year-on-year increase of 12.81%, while the smart segment grew by 48.04% to 33.87 million yuan [3]. - Despite the growth in the integrated circuit and smart segments, they collectively accounted for only about 35% of total revenue, insufficient to offset the decline in the power line carrier communication segment [3]. Cost and Financial Health - Operating costs increased by 5.04% to 354 million yuan, while revenue decreased, leading to a significant drop in overall gross margin by 9.7 percentage points [5]. - The cash used for purchasing goods and services rose to 283 million yuan, a 44% increase compared to the previous year, reflecting potential cost pressures from rising raw material prices [5][6]. Strategic Initiatives - The company invested 182 million yuan in acquiring land in Nanhai District, Foshan, to establish the Greater Bay Area Intelligent Power Equipment Innovation Valley, aiming to create new growth engines in emerging fields such as renewable energy and smart manufacturing [7][8]. - This strategic move is part of the company's dual-headquarters development strategy to strengthen its competitive position in the South China market [2][7]. Future Outlook - The construction of the new base is expected to take time before yielding results, raising concerns about balancing short-term financial stability with long-term strategic investments [8].

今天分享的是：数智新客服"驱动美好服务（21页PPT） 报告共计：21页 数智化浪潮下，"新客服"如何重塑服务生态？ 当你还在为客服电话占线而烦躁，当企业仍在为突发投诉量激增而手忙脚乱时，一场服务领域的数智化革命已悄然发生。在数字经济加速渗透的今天，客服 不再是简单的问题解答者，而是成为连接企业与用户、驱动业务增长的核心环节。蚂蚁金服在"数智新客服"领域的探索，或许正揭示着未来服务生态的新样 貌。 从"被动响应"到"主动创造"，客服角色的颠覆性转变 传统客服的一天，往往被此起彼伏的问题淹没：投诉处理、接通率波动、满意度下滑、业务峰值应对……这些碎片化的困扰，暴露出传统服务模式的低效与 被动。而随着云计算、人工智能等技术的成熟，服务与科技的深度融合正在催生全新的客服体系——它不再局限于"解决问题"，更致力于"创造价值"。 这种转变的核心，在于对服务价值链的重构。在数字时代，用户需求不再是孤立的"点"，而是贯穿产品全生命周期的"链"。新客服通过数据打通用户与产 品、业务场景的连接，让服务从价值传递的末端，跃升为价值创造的起点。比如，通过分析用户咨询数据，提前发现产品设计漏洞；基于用户行为画像，推 送个性化服务方案 ...

Group 1: Fund Sales and Performance - In the first half of 2025, Tian Tian Fund achieved a record fund sales amount of 1.05 trillion yuan, with non-monetary fund sales reaching 626.04 billion yuan, a year-on-year increase of 25.29% [2] - Despite the increase in sales, Tian Tian Fund's operating income was 1.424 billion yuan, a slight increase of 0.49% year-on-year, while net profit remained flat at 64 million yuan [2] - The first science and technology bond ETF from Jiashi Fund surpassed 20 billion yuan in scale, marking a significant milestone in the market [6][7] Group 2: Industry Trends and Innovations - Central European Fund is focusing on a transformation towards "professionalization, industrialization, and digitalization," which is seen as a core philosophy for sustainable alpha generation [3][4] - The emphasis on long-term orientation, process consistency, and team collaboration is crucial for building a sustainable organization capable of generating investment insights [4] - The second batch of new floating-rate funds is gaining traction, with multiple funds exceeding 20 billion yuan in fundraising [14] Group 3: Market Dynamics and Regulatory Changes - QDII funds are experiencing increased restrictions on large subscriptions, with some funds lowering the minimum subscription limit to 500 yuan [8] - Several funds from Central European Fund announced subscription limits to ensure stable operations and protect the interests of fund holders [10] - The recent recovery in the stock market has led to a significant increase in the performance of various funds, with many products from Guangfa Fund showing over 30% growth in the past year [15] Group 4: Financial Institutions and Management Changes - Jianxin Fund appointed a new vice president, Liu Dachao, as part of its strategy to enhance high-quality development and investor engagement [19] - The financial sector is witnessing a collective announcement from major banks regarding the implementation of interest subsidies for personal consumption loans starting September 2025 [20] - A private fund manager, previously a public fund veteran, is transitioning to the private sector, indicating a trend of experienced professionals moving into private fund management [27]

日前，由中国银河证券、中国证券报、银河期货及非凸科技联合主办的"星耀领航计划"财富管理发展论 坛在北京成功举行。 论坛以"科技向善·蓄势赋能"为主题，以"中国银河（601881）证券·中国证券报私募行业星耀领航计 划"为指引，汇聚科创企业、私募机构管理人及金融科技公司代表，共商科创视角下私募行业高质量发 展新路径、新方向。 深度赋能私募行业 从期货公司财富管理业务突围的角度看，公司的核心能力和差异化价值极为重要。银河期货财富管理部 总经理王慧颖表示，银河期货以专业驱动、生态共建、客户赋能为核心，以打造高质量私募供应链为轴 心，重点上架布局CTA等衍生品策略相关产品，依托衍生品投研领域以及服务大宗商品实体产业的优 势，探索出一条融合期货基因的特色化财富管理发展路径。同时，公司围绕"星耀领航计划"，在合规与 分业经营原则下，全力构建开放协同的银河体系财富管理业务生态。 据统计，截至今年6月末，银河期货已为近1000家私募管理人的3000多只私募产品提供服务，累计投资 200多家私募管理人的近400只私募产品，在投规模超过30亿元。 为私募机构提供全链条服务 "当前，科技创新已成为我国经济高质量发展的核心动力，私募 ...

● 本报记者 刘英杰 论坛以"科技向善·蓄势赋能"为主题，以"中国银河证券·中国证券报私募行业星耀领航计划"为指引，汇 聚科创企业、私募机构管理人及金融科技公司代表，共商科创视角下私募行业高质量发展新路径、新方 向。 深度赋能私募行业 "当前，科技创新已成为我国经济高质量发展的核心动力，私募机构，尤其是聚焦二级市场的科技主题 私募和量化私募，正迎来历史性机遇。"银河期货副总经理郝刚在致辞中表示，中国银河证券携手中国 证券报，以"打造国内最具影响力的科创类私募赋能平台"为愿景，启动"星耀领航计划"，是中国银河证 券深耕私募服务领域的又一里程碑。 从期货公司财富管理业务突围的角度看，公司的核心能力和差异化价值极为重要。银河期货财富管理部 总经理王慧颖表示，银河期货以专业驱动、生态共建、客户赋能为核心，以打造高质量私募供应链为轴 心，重点上架布局CTA等衍生品策略相关产品，依托衍生品投研领域以及服务大宗商品实体产业的优 势，探索出一条融合期货基因的特色化财富管理发展路径。同时，公司围绕"星耀领航计划"，在合规与 日前，由中国银河证券、中国证券报、银河期货及非凸科技联合主办的"星耀领航计划"财富管理发展论 坛在北京成 ...

Core Insights - Fujian Province is leveraging technology to develop smart cities and a smart ocean economy, driven by digital intelligence and national marine economic strategies [1] - China Mobile won the "Best AI Application Case" award at the International Telecommunication Union AI for Good Global Summit, highlighting its strength in technological innovation [1] - The establishment of a 5G-A demonstration city in Xiamen is a significant step towards enhancing the region's digital infrastructure [1] 5G-A Network Development - The 5G-A network has been fully deployed along Xiamen's Golden Coastline, enhancing network capabilities for education, tourism, and transportation [2][4] - The network supports high-definition live streaming, real-time video, and low-latency gaming, catering to both tourists and local residents [4] - Even in high-capacity areas like ferry terminals, the network maintains stable performance, providing unprecedented convenience for citizens and visitors [5] 5G-A Integrated Sensing Technology - China Mobile has implemented a unique "land-sea-air" integrated 5G-A network in Xiamen, effectively detecting and warning against low-altitude drones [7] - The integrated sensing capability has been crucial in various events, successfully monitoring over 7,000 unauthorized drone flights [9] - This technology supports the development of a "low-altitude economy" by enhancing security and traffic management [9] Cultural and Tourism Enhancement - The 5G-A technology has revitalized Xiamen's Zhongshan Road, allowing for immersive experiences that blend historical and modern elements [10] - Users can enjoy seamless access to interactive content, enhancing the overall tourist experience [10] Transportation and Marine Economy - Collaborations with Huawei have upgraded network experiences at key transportation hubs, supporting marine tourism and economic development [11] - The 5G-A network enhances user experiences in marine protected areas, providing high-speed connectivity for activities like live streaming and gaming [11] Marine Conservation Efforts - A comprehensive marine species protection project has been established, utilizing 5G-A and AI technologies for effective monitoring and management [12] - The project has expanded real-time monitoring coverage, significantly improving the efficiency of marine conservation efforts [12] Strategic Implications - The development of the 5G-A demonstration city in Xiamen aligns with national marine economic strategies, showcasing a model for sustainable marine development [14] - The integration of digital technologies is expected to drive the potential of the marine economy, enhancing tourism, industry transformation, and ecological protection [14]

Group 1 - The core theme of the event was "AI Elevation: Steering the Intelligent Future," focusing on the integration of AI trends and practical applications in enterprises [1] - The new book titled "Intelligent Productivity: From Digital Transformation to Intelligent Rebirth" was launched, emphasizing deep reflections and practical experiences regarding the future of intelligence [1] - The chairman of the company, Ye Zizhen, stated that the value of AI lies not in replacing humans but in liberating them from repetitive tasks, aiming to create an "AI+" era rather than a "+AI" era [1] Group 2 - The company introduced the "SUPA" model, which innovatively describes the data application process, suggesting that data should perceive, understand, plan, and execute like humans [3] - Ye Zizhen presented a framework for AI development consisting of "one model, two cores, and three types of intelligent agents," which integrates the physical and digital worlds [3] - The "Athena platform" was highlighted as a practical embodiment of the company's vision, providing a "digital operating space" for enterprises to simulate operations based on data changes [4] Group 3 - The core value of AI agents was emphasized, including autonomous decision-making, dynamic adaptation, continuous learning, and multi-modal collaboration capabilities [5] - The company launched key products such as the intelligent data suite and enterprise intelligent agent generation suite to promote AI applications in enterprises [5] - Ye Zizhen expressed a vision for a "portable digital twin" for every individual, which would grow with training and provide tailored services to enterprises by integrating personal knowledge with enterprise data [5]

Core Viewpoint - The article emphasizes the transformation of the asset management industry towards a "professional, industrialized, and intelligent" model, termed "Zhongou Manufacturing," which aims to enhance the investment research system and better serve the public's asset management needs [5][8][28]. Group 1: Transformation Strategy - Zhongou Fund is focusing on a three-pronged approach: specialization, industrialization, and digital intelligence, to create a sustainable investment research system that can produce high-quality insights [9][11]. - Specialization involves building a knowledge-intensive team where each investment professional excels in specific areas, allowing for deeper insights and better market predictions [9][10]. - Industrialization aims to enhance organizational efficiency and the speed of insight delivery, ensuring that research findings translate effectively into investment decisions [10][11]. - Digital intelligence focuses on leveraging technology to convert human expertise into reusable data assets, enhancing the overall decision-making process [10][11]. Group 2: Long-term Focus and Team Collaboration - The company prioritizes long-term performance over short-term market fluctuations, aiming for sustained outperformance against benchmarks over five to ten years [6][12]. - A collaborative team structure is essential, as individual fund managers cannot independently manage extensive portfolios; a well-coordinated team is necessary for effective investment management [12][14]. - The emphasis on a decentralized organization allows for diverse perspectives and reduces the reliance on a single decision-maker, fostering a more inclusive decision-making environment [15][18]. Group 3: Challenges in Implementation - The most significant challenges in implementing the transformation are related to human factors, including selecting the right talent, nurturing their development, and fostering collaboration among intelligent individuals [20][21]. - The company recognizes that building a cohesive team requires time and patience, as well as a commitment to cultivating a shared understanding and methodology [22][24]. - The concept of "good product rate" is introduced as a key performance indicator, reflecting the effectiveness of the investment research system and the importance of long-term stability [24][25]. Group 4: Focus on Active Management - Zhongou Fund chooses to focus solely on active investment management, believing that it is essential to excel in one area rather than attempting to balance both active and passive strategies [28][29]. - The company argues that the success of active management relies on deep research and talent, contrasting with the cost-driven nature of passive investment strategies [28][29]. - The long-term vision is to establish a culture of professional excellence that prioritizes sustainable performance and the development of a robust investment philosophy [28][29].

Core Insights - In July, despite adverse weather conditions, national logistics demand in China continued to expand, indicating strong internal momentum among enterprises [1] - The logistics sector is crucial for connecting production and consumption, and reducing logistics costs can enhance industrial competitiveness and economic efficiency [1] - China's social logistics total cost as a percentage of GDP fell to 14% in the first half of this year, down 0.1 and 0.2 percentage points from the previous quarter and the same period last year, respectively [1] - The goal is to reduce this ratio to around 13.5% by 2027, although current logistics costs remain approximately 8% higher than the average of developed countries [1] Group 1: Logistics Cost Reduction - The continuous improvement of logistics infrastructure, optimization of transportation structure, and reduction of institutional costs are essential for further lowering logistics costs [1] - The integration of digital and green technologies presents opportunities for reducing logistics costs, with advancements in mobile internet, big data, cloud computing, 5G, blockchain, and artificial intelligence [2] - Logistics companies are increasingly adopting automated warehousing and intelligent management systems to enhance delivery efficiency and reduce empty running rates [2] Group 2: Challenges and Opportunities - The logistics sector faces challenges such as high transformation costs, lagging technology research and development, and insufficient data interconnectivity [2][3] - There is a need for systematic cultivation of new productive forces in logistics through technology, organization, and policy support [2] - Establishing a dynamic interconnection mechanism for logistics data across various transport sectors and government departments is crucial for promoting data sharing and utilization [3] Group 3: Green Transformation - The logistics industry must accelerate its green transformation by applying energy-efficient technologies and upgrading facilities [3] - Support for the development of green logistics infrastructure, such as charging stations and hydrogen fuel cell vehicles, is essential for enhancing sustainability [3] - Promoting standardized, recyclable, and environmentally friendly packaging solutions is necessary for reducing logistics waste [3]