来源：中外管理传媒 "现在一些电商拼命鼓励低价，往往造成产品品质的下降。从长远看，铺天盖地的低价产品，只会摧毁 价值、摧毁税收、摧毁就业。一些平台的所谓生态链企业，最后存活下来的，不到5%！" 哲理的故事： 一部《繁花》，几多品读，表面是饮食男女，实则是山河岁月，是时代变迁的真实写照。在这部时代感 十足的电视剧中，也蕴含着许多关于成功之道的启示和生意场上的智慧与深意。 "外行是死不光的。"《繁花》中的这句台词让正在追剧的莱克电气董事长倪祖根，再一次产生了深深的 共鸣。 "很多人认为，通过价格战可以洗牌，可以把别人干掉。但我认为，一家企业的核心竞争力，还是两个 方向：一个是消费者导向，解决顾客痛点，创造潜在需求；另一个则是差异化竞争导向，研发的产品一 定要和竞争对手在技术上有显著的差异，充分发挥出自己的独特性。"倪祖根说，"现在一些电商拼命鼓 励低价，往往造成产品品质的下降。从长远看，铺天盖地的低价产品，只会摧毁价值、摧毁税收、摧毁 就业。一些平台的所谓生态链企业，最后存活下来的，不到5%！" 的确，中国很多产业的发展路径，往往陷入这样的恶性循环：一哄而上——同质化经营，低成本低价竞 争，导致劣币驱逐良币——一 ...

Core Viewpoint - The recent Central Economic Work Conference emphasizes the need for a shift in business paradigms to resist "involution" competition and focus on value creation and high-quality development [2][26]. Group 1: Transition from Scale to Quality - Chinese enterprises have achieved significant growth, with 130 companies entering the Fortune Global 500 this year, but now must transition from speed and scale to quality and efficiency [4][29]. - The criteria for measuring development quality include investment returns, market presence, profitability, employee income, government tax revenue, and environmental improvement [4][29]. - Companies like Midea are focusing on modern governance to ensure stable development, projecting a profit of 38.5 billion yuan in 2024 with a market value of 630 billion yuan [4][29]. Group 2: Focus on Core Competencies - Companies should prioritize strengthening their core business rather than blindly expanding into unrelated areas, as many issues arise from straying from core competencies [6][31]. - The principle of business core focus suggests eliminating non-core and loss-making operations to maintain clarity and efficiency [6][31]. - For instance, CATL focuses solely on its core business of power batteries, projecting a profit of 50.7 billion yuan in 2024 with a market value of 1.8 trillion yuan [6][31]. Group 3: Shift from Management to Strategic Operations - The current era requires businesses to focus on strategic operations rather than just management, emphasizing the importance of making the right business decisions to enhance profitability [7][32]. - Effective leadership involves setting strategic direction and resource acquisition while delegating management tasks to subordinates [7][32]. - The distinction between management and operations is crucial, with a focus on generating revenue and market engagement being paramount [7][32]. Group 4: Value-Driven Pricing Strategies - Companies must transition from cost-based pricing to value-based pricing, focusing on the value delivered to customers rather than merely production costs [13][40]. - The importance of understanding the relationship between price, volume, and cost is highlighted, with a focus on maintaining price stability in over-saturated markets [17][42]. - Successful brands like Pop Mart leverage emotional and social value in their products, achieving significant revenue growth and market capitalization [41]. Group 5: Moving Towards Cooperative Competition - The need for a shift from harmful competition to cooperative competition is emphasized, where companies focus on creating value rather than engaging in destructive price wars [18][43]. - The concept of "prisoner's dilemma" illustrates the need for industry players to prioritize collective industry benefits over individual gains [19][44]. - Promoting a cooperative ecosystem within industries can lead to sustainable growth and mutual benefits for all stakeholders involved [19][44].

当前，不少行业都在深入整治"内卷式"竞争。那么如何克服内 卷？宋志平提出四点建议。 作者：蔡越坤 封图：图虫创意 "保罗·肯尼迪的《大国的兴衰》提到，历史上大国兴盛由于它的技术创新，衰败可能由于全球化 的军事扩张。这个逻辑也适用于企业，不少的企业兴于创新，最后衰于盲目地扩张。"12月18 日，中国上市公司协会会长宋志平在2025光伏行业年度大会上表示。 宋志平主要从四个方面谈论了如何重塑企业的经营范式。 第一，从规模式扩张到内涵式发展。 一是要从速度规模到质量效益。我国现在有130家世界500 强企业，规模够大了。很多产业已经实现了或者超越了规模效益，现在到了高质量发展的阶段。因 此，我们必须重视企业内涵式的高质量发展，而不是简单的规模扩张；二是从做大做强到做强做 优，现在"做强"和"做优"是我们的核心，"强"是核心竞争力，"优"是企业效益，而不是盲目地去 做规模；三是从盲目扩张到突出主业。如果企业是中小企业，建议还是做专业化；如果是大一些的 企业，觉得撞到天花板了，可以做相关多元化，以协同性的多元化；只有少部分投资型的大型企业 集团可以做多元化。企业做专业化要突出主业。 第四，从恶性竞争到良性竞争。 所谓良 ...

Core Insights - The core viewpoint emphasizes the shift of private enterprises in China from a "cost-driven" approach to a "value-driven" strategy in their international expansion efforts [3][4][6] Group 1: International Competitiveness - Private enterprises are increasingly focusing on "technology + brand" to enhance their international competitiveness, moving away from low-cost competition [1] - In the first eight months of this year, private enterprises' import and export volume reached 16.89 trillion yuan, a year-on-year increase of 7.4%, accounting for 57.1% of the total import and export value [3] - The global expansion of private enterprises is accelerating, facing both opportunities and challenges such as geopolitical friction and trade protectionism [3][6] Group 2: Strategic Shifts - The global strategy of private enterprises is evolving from "single-handed efforts" to "ecological collaboration" and from "product output" to "rules and standards output" [4] - Companies are increasingly integrating ESG (Environmental, Social, and Governance) principles into their operations to build international trust and navigate market entry barriers [6] - The focus on innovation and understanding market differences is crucial for private enterprises to transition from "Made in China" to "Created in China" [6] Group 3: Intellectual Property - Intellectual property has become a critical issue for private enterprises expanding overseas, particularly in the European and American markets, where patent infringement and trademark disputes are common [7] - Companies are advised to incorporate intellectual property protection into their strategic planning, utilizing tools like patent warnings and cross-licensing to build a defensive system [7] - There is a call for increased government support in providing intellectual property training for small and medium-sized enterprises to facilitate their overseas expansion [7]

Core Insights - The 2025 36Kr Industry Future Conference was held in Xiamen, China, focusing on national strategies and industry development in key sectors such as AI, low-altitude economy, advanced manufacturing, new energy, and consumer goods [1] - The conference emphasized the collaboration between government, capital, and industry to address challenges in industrial development [1] Investment Trends - The investment market shows a positive trend with significant growth in both fundraising quantity and scale, achieving double-digit growth [3] - In the first eight months, the number of investment projects increased by 20% year-on-year, while fundraising quantity grew by 1.6% [3] - The platform reported a 10% increase in financing news and new project financing, indicating heightened activity in fundraising and investment [3] Capital Structure - There is a noticeable shift towards state-owned capital, with over 68% of the disclosed fundraising scale of over 800 billion yuan coming from state-owned sources [4] - Non-state capital accounts for less than one-third of the total fundraising [4] - The role of industrial capital, including state-backed and large enterprise capital, is becoming increasingly significant in the investment landscape [4] Investment Focus - Investment directions are increasingly centered on "self-controllable" and "technology-driven" initiatives, with a focus on hard technology [4] - Key metrics for investment discussions have shifted from business models to technical parameters, patent status, and team backgrounds [4] Hot Investment Sectors - AI is transitioning from conceptual discussions to practical applications, with capital flowing towards companies that demonstrate real-world value [5] - Embodied intelligence, represented by robotics, is gaining traction, with significant investment in core components and development firms [5] - The low-altitude economy is rapidly developing, with many companies obtaining airworthiness certificates, indicating potential for future growth [5] - New energy and new materials are viewed as foundational for future technological innovations, despite a decrease in media attention [6] - The biopharmaceutical sector is experiencing a revolution in research efficiency through AI integration, significantly reducing drug development timelines [6] Industry Dynamics - The narrative in the industry is shifting from business models to a focus on technical granularity, emphasizing long-term technological value [7] - The competitive landscape is evolving from a "jungle law" approach to one of "ecological collaboration," where companies must engage with national teams and industry partners [7] - The mindset of industry participants is becoming more rational and pragmatic, moving away from high-frequency financing and inflated valuations towards sustainable growth models [7]

Group 1 - The Shanghai Composite Index reached a new high, approaching 3800 points, raising questions among investors about the sustainability of the current market trend [1] - Lin Yuan, chairman of Lin Yuan Investment, emphasizes the importance of value-oriented stock selection, assessing whether a company's intrinsic value aligns with its stock price [1] - Lin Yuan advises investors to be cautious of speculative concepts and hot stocks, highlighting that such risks are not unique to the current market but are a long-term phenomenon in global markets [1] Group 2 - The formation of a MACD golden cross signal indicates positive momentum for certain stocks [2]