泸州老窖 20250710 摘要 泸州老窖正经历数字化改革，从生产到销售端提升运营效率，旨在适应 未来市场发展，并发布报告以供市场参考，尤其是在禁酒令影响下。 当前泸州老窖市盈率接近历史低位，与 2013 年初白酒行业深度调整期 相似，但预测 2025 年股息率约为 5.4%，对估值形成支撑，下跌空间 有限。 三季度白酒量价指标预计平稳，二季度受扰动因素影响较大，但最差阶 段已过，环比改善迹象明显，各场景修复带来增量，年底或有积极政策 导向。 泸州老窖组织和渠道力突出，具有强市场化管理能力及战略前瞻性，同 时加大供应链数字化投入，布局低度和多规格产品，注重年轻化营销。 高度国窖提前调整，数字化渠道管理后库存合理、价格稳定，在川渝等 优势市场与竞品价格差收缩，厂商关系修复，经销商回款信心足。 短期内，泸州老窖估值有望从当前 13 倍修复至 15 倍，对标山西汾酒有 更高空间，报告详细探讨了公司折价原因、组织渠道优势及数字化增长 潜力。 公司通过导入五码合一的渠道价值链管控和实施挖井计划等改革举措， 旨在应对市场变化，实现更长远的发展和布局，符合白酒行业未来的调 整方向。 Q&A 为什么选择在当前时间点发布泸州老 ...

有赞 20250710 摘要 有赞预计 2025 年全年收入同比增长约 5%，达到 15 亿人民币，经调整 EBITDA 利润率预计从 8.4%上升至 10%，即 1.5 亿的经调整 EBITDA。同时，公司预计经营现金流净流入仍将保持在大几千万级别， 整体财报 bottom line 会实现正向盈利。 有赞通过优化商家画像，优先签约能与其服务匹配的商家，放弃小规模 起步阶段商家，导致付费商家数量下降，但每个商家平均收入（UP）增 长，整体收入保持平稳，预计 2025 年收入将恢复增长。 有赞的主要收入来源包括订阅费和商家解决方案服务费。2024 年订阅 费 7.8 亿元，同比下降；商家解决方案服务费 6.6 亿元，同比增长 9%，与 GMV 挂钩，包括有赞分销市场、物流服务及推广费用等增值服 务。 有赞不再盲目追求商家数量增长，而是注重提高商家质量，增加每个商 家的平均交易额。付费商家数量从近 10 万降至 5 万多，但整体 GMV 仍 保持在 1,028 亿元水平，平均每个商家的 GMV 达到 184 万元，同比增 长 14%。 Q&A 请介绍一下有赞公司 2024 年和 2025 年上半年的财务表现及核 ...

2025.07. 11 本文字数：3331，阅读时长大约5.5分钟 作为义乌第六代市场的标杆，将在今年10月开业的全球数贸中心市场板块正处于面向全国招商的阶 段，商铺"一席难求"。 根据商城集团的数据，截至7月6日报名截止日，义乌全球数贸中心（市场板块）婴幼童成长用品、 护肤及医美用品行业共计900多个商铺，吸引的报名人数超过1.9万户，相当于20多人竞争1个商铺， 其中包括奥飞实业、高乐股份等10余家上市公司，以及600余家规模以上企业。 "一席难求"背后 义乌市场商铺"一席难求"的背后，是这座"世界小商品之都"自带的流量，也是中国外贸尤其是中小微 外贸企业的韧性所在。 "义乌市场对全球的客商来说，就是购物天堂、最大的超市，人流是源源不断的。"义乌中国小商品城 商会化妆品行业副会长、沃卡丽（浙江）生物科技有限公司负责人吴光亮告诉第一财经，从广东来到 义乌的他们，已在义乌市场扎根25年之久。他们之所以第一时间报名"抢"新一代市场的商铺，也是和 大家一样仍然看好义乌，"要做外贸，义乌市场是首选"。 不只是"押注"新一代市场，他们在当前客流集聚地义乌国际商城的投入也在不断加大，"我们在三区 和海外市场投放了很多广 ...

7月7日至11日，顾家家居全国购物中心816全民顾家日启动大会暨财富招商大会，在杭州主会场成功举 行，呼和浩特、成都分会场同步联动。本次大会深度聚焦购物中心渠道战略转型，通过趋势洞察、产品 革新、模式验证及生态赋能四大维度，为全国购物中心意向商与老商绘制清晰增长路径。 当前家居行业正经历深刻重构。传统卖场面临同质化竞争加剧等挑战，而购物中心凭借其"高频带低 频"的天然场景优势，成为撬动新增量的黄金入口。会上，顾家家居中国营销事业本部执行总经理林春 旺在主题演讲中指出："短期业绩不代表未来，核心在于能否抓住渠道变革的战略机遇。" 据悉，本次会议以"赢战新模式·打出新态势"为行动纲领，汇集全国200+家经销商代表，通过可复制的 商业模式验证、差异化产品矩阵及全域流量解决方案，为合作伙伴开辟第二增长曲线。 一、趋势定锚：解码消费变革，重塑渠道价值 大会首日，顾家购物中心举办了家居行业高定私享沙龙，其以"店态参观+行业趋势峰会"为核心，特邀 知名趋势营销专家肖明超、小红书家居行业平台专家烟幕，以及顾家家居用户洞察及场景力赋能负责人 尤珍等嘉宾分享家居趋势与用户洞察。活动聚焦行业前沿资源整合，参与者沉浸式体验购物中心最 ...

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Core Viewpoint - The article emphasizes the development of high-quality education in Jiyang District, aiming to establish it as a leading educational hub north of the Yellow River through innovative practices and strategic planning [1][2][7]. Group 1: Strategic Planning and Development - Jiyang District has launched the "Three-Year Action Plan for High-Quality Development of Basic Education (2025-2027)" to outline the strategic direction for educational development over the next three years [2]. - The district has prioritized education, resulting in the establishment of 19 modern campuses and the addition of 13,400 new student places in the past five years [2][3]. - Ongoing projects include the expansion of Jibei Middle School and Nanhua Experimental Primary School, alongside the construction of Shandong Art and Design Vocational College's Jiyang campus [2]. Group 2: Educational Reform and Innovation - Jiyang District has initiated the "Three Leads and Six Commons" total school system reform to enhance educational quality through collaboration between strong and weak schools [3]. - The district has implemented over 20 key reform projects in education, including performance assessments and innovative enrollment strategies, which have been recognized as exemplary cases in Shandong Province [4]. - The year 2025 has been designated as "Year of Fine Management in Education," with numerous innovative practices being adopted to enhance educational quality [4][5]. Group 3: Technological Integration in Education - The district is leveraging digital technology to reshape the educational ecosystem, with initiatives such as 3D printing and robotics programming being integrated into the curriculum [5]. - A comprehensive network for educational resources has been established, achieving 100% coverage of local area networks in primary and secondary schools [5]. Group 4: Holistic Education Approach - Jiyang District emphasizes a holistic approach to education, integrating moral, intellectual, physical, aesthetic, and labor education to foster well-rounded students [6]. - The district has developed a variety of extracurricular programs, including traditional cultural courses, to enrich students' educational experiences [6]. Group 5: Achievements and Future Goals - Jiyang education has received national recognition for its initiatives, including the promotion of quality early childhood education and balanced development in compulsory education [7]. - The district aims to transform its educational landscape into a shining example along the Yellow River, with a commitment to continuous improvement and quality education [7].

Core Insights - Fujian Province's Zherong County is renowned as "the hometown of knives and scissors," with local artisans utilizing unique techniques to produce over 300 million scissors annually [1][2] - The collaboration between Fujian Mobile and Zherong's scissor manufacturers focuses on integrating 5G, AI, and big data to create a digital workshop for the scissor industry, enhancing production efficiency and safety [1][2] Industry Overview - The traditional scissor manufacturing process relies heavily on manual labor, with over 50% of the processes being manual, leading to high labor intensity and quality variability [1] - The introduction of a 5G private network allows for real-time monitoring of equipment status and production data, facilitating comprehensive data management and predictive maintenance [1] Technological Advancements - Automation is being advanced through the use of digital electric spark machines and automatic welding machines, which reduce human error and labor intensity, aiming for zero safety risks [1] - The implementation of a fully automated production line at Zhengrong Hardware Company showcases the use of advanced robotics and programmable logic controllers (PLC) for efficient production [2] Cultural Heritage and Future Prospects - Zherong's scissor-making techniques are recognized as a provincial intangible cultural heritage, with digital technology enabling the preservation and analysis of these traditional skills [2] - Digital twin technology allows young artisans to practice traditional techniques in a virtual environment, shortening the learning curve and revitalizing ancient craftsmanship [2]

□ 张 晓 开发在线课程。在线课程作为数字化时代的重要产物，能够为红色文化资源在高校思政教育中的活态利 用提供灵活且高效的平台。高校可以借助数字化平台、利用数字化技术，积极构建以红色文化为主题的 在线思政课程体系，开发包含微课、慕课等形式的在线课程，突破传统课堂教学的时空限制，为学生提 供更为丰富的学习资源、更为多样化的学习路径。依托数字化资源共享平台，整合全国各地的优质在线 课程资源，形成覆盖面广、内容多样的思政教育素材库，供全国高校学生根据自身兴趣和实际需求选择 合适的课程学习，打破区域限制，缓解红色文化资源短缺地区高校的课程开发困境，实现红色文化资源 在高校思政教育中的活态利用。 利用社交媒体平台。社交媒体平台作为信息传播的重要渠道，能够为红色文化资源在高校思政教育中的 活态利用提供广阔的传播空间。思政教师可以利用微博、微信、抖音、小红书等常见的社交媒体平台， 以红色文化为主题，创作形式多样、内容生动、视角新颖的思政教育视频，吸引青年一代大学生的关注 和参与。在评论区策划话题互动活动，鼓励学生围绕视频内容展开讨论和交流，增强其对红色文化的认 知和理解，并在潜移默化中实现对其价值观的引导和塑造；鼓励有兴趣 ...

Group 1 - The article emphasizes the significant role of state-owned enterprises (SOEs) in China's industrialization and economic development since the establishment of the new China and the reform and opening-up policy [2][3] - It highlights the importance of a unified and ambitious government in achieving industrialization, contrasting China's efforts with earlier attempts during the Self-Strengthening Movement [3] - The strategic choice to prioritize heavy industry in the early years of the new China is discussed, showcasing the influence of Soviet models and the resulting structure of SOEs [3][4] Group 2 - The article outlines the advantages of China's socialist system in mobilizing resources for large-scale projects, citing examples like the "Two Bombs, One Satellite" and major infrastructure achievements [4] - It discusses the role of party leadership in building a dedicated workforce, exemplified by the spirit of workers and scientists who contributed to the industrial system's resilience and growth [5] - The narrative of reform and opening-up is presented, illustrating how China capitalized on technological advancements and market opportunities to develop a comprehensive industrial system [5][6] Group 3 - The article addresses the current challenges posed by Western pressures on China's industrialization, emphasizing the critical role of SOEs as the backbone of the socialist economy [6] - It advocates for the digital transformation of SOEs, highlighting the need for innovation and modernization in traditional industries to enhance productivity [6][7] - The importance of strategic emerging industries is discussed, with examples of SOEs diversifying into renewable energy, biotechnology, and new materials [7] Group 4 - The article stresses the pivotal role of SOEs in the new type of national system, which combines market mechanisms with government initiatives to foster innovation [7][8] - It emphasizes the need for talent development and the cultivation of skilled professionals to support the long-term goals of new industrialization [8] - The publication of the book "National Industrial Code" is positioned as a guide for future industrial development, aiming to inspire collaboration among stakeholders in the industrial sector [8]

伴随药品追溯码在药品采购、医保及工伤保险等领域持续推进，我国药品追溯体系迎来全面升级，彰显 了国家通过数字化手段筑牢药品安全防线的决心，为构建全链条监管体系提供了技术支撑。不过，我国 在用药安全方面依然存在短板弱项。例如，仿制药上市前监管较为严格，上市后存在多头管理、协同不 足的问题，若企业对原料药和辅料、包装材料来源、生产工艺、生产场地等关键要素进行变更，很容易 导致监管出现盲区。对于创新药、仿制药、孤儿药等不同类型药品，尚未形成精细分类与分级管理的科 学体系。对具有较高临床风险的特殊药品，监管设计仍显粗放，这类药物剂量或血药浓度发生微小变化 即可能导致治疗失败或严重不良反应，贸然进行临床厂牌与规格替换存在较大风险。 2017年，世界卫生组织在德国波恩发布"全球患者安全挑战——用药安全"，旨在未来几年内将所有国家 严重的、可避免的药物相关伤害减少50%。许多国家和地区积极响应并探索实践。例如，欧盟通过《反 伪造药品指令》，建立了高度集中的欧洲药品验证系统，各成员国国家系统与中央数据库对接，形成一 体化网络。又如，在高风险药物窄治疗指数药物（NTIDs）管理方面，芬兰构建了NTIDs全流程监管体 系，通过"立 ...