本文来自微信公众号：尹生价值观，作者：尹生，题图来自：视觉中国 马云为阿里注入了三股能量：创业精神、降低政策敏感性、抓住机会窗口的能力。 自2月以来，阿里股价已经上涨将近1倍，最近一个季报发布以来，过了两周多的时间，股价已经暴涨将 近四成。 一些机会前些年就出现了，但阿里在迷茫期错失了，比如拼多多和美团抓住的机会。 自传马云回归以来，阿里在这些机会的抓取力度上焕然一新，比如云业务成为公司的增长引擎，本地生 活开始与美团正面硬刚，海外业务也来到盈亏平衡的附近，在AI领域更是好戏不断。 马云至少给一度迷茫中的阿里注入了三股强劲的力量： 一是创业精神，因为缺乏创业精神，阿里过去数年一直被拼多多、美团这样的创新和创业者压着打， 而只有作为创始人的马云，才更有可能推动公司冲破大公司病，重启创业精神。 二是政策敏感性的减弱甚至消除。过去因为马云远离公司，加上公司的股权特殊性，以及电商业务过于 庞大、金融和云业务又对安全敏感，于是外界猜测纷纭，也难免影响公司士气，甚至影响了金融和云业 务。 三是抓住重大机会窗口的能力。目前中国互联网和科技领域至少有四大机会，分别是国际化，包括 AI、金融科技、机器人等在内的新技术，中国供应 ...

Group 1 - Jack Ma has made multiple public appearances in China this year, generating significant attention [3][4][5][8] - On September 17, Alibaba's stock opened 2.74% higher, reaching a nearly four-year high, with a total market capitalization returning to HKD 3 trillion, reflecting a cumulative increase of over 96% this year [10] - Alibaba has launched its next-generation open-source Qwen3-Next model, focusing on high training and inference cost-performance [10] Group 2 - Ma's recent appearances include events at Alibaba's headquarters and various company locations, where he encouraged employees and promoted the entrepreneurial spirit [4][5] - The "Lakeside Cabin," a replica of the original startup apartment, was unveiled at Alibaba's global headquarters, symbolizing the company's founding spirit [4] - Speculation about Ma's return to a leadership role at Alibaba has been dismissed by internal sources, emphasizing that he has never truly left the company [8]

Core Viewpoint - The article reflects on the personal and professional growth experienced through participating in a challenging endurance event, drawing parallels between the journey of entrepreneurship and the physical and mental challenges faced during the trek [9][30][42]. Group 1: Event Overview - The event, known as the "Entrepreneur Gobi Trek," involves a three-day trek covering 100 kilometers in the Gobi Desert, symbolizing the journey of entrepreneurship [3][30]. - Participants include entrepreneurs, investors, and professionals from various fields, fostering a sense of community and shared experience [13][19]. Group 2: Personal Reflections - The author emphasizes the importance of physical endurance and mental resilience in both trekking and entrepreneurship, noting that many successful entrepreneurs engage in endurance sports [11][28]. - The trek serves as a metaphor for the challenges faced in business, highlighting the need for perseverance and teamwork to overcome obstacles [32][34]. Group 3: Insights on Entrepreneurship - The article discusses the differences between entrepreneurs and investors, noting that entrepreneurs often experience the journey's hardships more acutely [17][20]. - It suggests that the entrepreneurial path is fraught with difficulties, akin to the physical challenges of the trek, and emphasizes the importance of maintaining focus on goals and progress [39][42]. Group 4: Lessons Learned - Key lessons from the trek include the significance of setting clear goals, the value of teamwork, and the understanding that progress may require patience and persistence [38][39]. - The author concludes that the journey itself is as valuable as the destination, encouraging readers to embrace their own paths, whether in business or personal endeavors [42][44].

Core Viewpoint - 7&i Holdings, the parent company of 7-11 convenience stores, announced a transformative business plan for the next five years, starting in September, aiming to redefine its international convenience store operations [1][2]. Group 1: Historical Context and Challenges - The company has faced significant challenges, including criticism from investors leading to the sale of its low-performing Sogo Seibu department store business [2][3]. - The recent withdrawal of Canadian convenience store company ACT from a proposed acquisition of 7&i has heightened awareness of the need to maintain control amid currency depreciation and high capital values [2][3]. - The company has streamlined its operations to focus solely on the 7-11 convenience store business, aligning with investor demands for improved efficiency [3][4]. Group 2: Leadership and Strategic Direction - The new president, Daisuke Daisuke, emphasized the importance of transformation at a historical turning point for the company, acknowledging past market share losses and the need for accelerated investment [1][6]. - Daisuke's strategy includes enhancing international operations, particularly in the U.S. and Japan, while addressing internal challenges within subsidiary companies [7][8]. Group 3: Key Initiatives and Financial Goals - The company plans to solidify its market position by potentially listing its U.S. subsidiary, SEI, by the end of 2026, which could raise significant capital for operational upgrades [9][12]. - A target has been set to increase the number of stores in Japan by 1,000 and in the U.S. by approximately 1,300 by 2030, although this expansion plan has faced skepticism [9][15]. - The financial goal is to grow sales from 10 trillion yen (approximately 485.68 billion RMB) in February 2025 to 11.3 trillion yen (approximately 548.78 billion RMB) by February 2031, with operating profit expected to rise by 26% [13][21]. Group 4: Market Position and Competitive Landscape - The company is facing declining customer satisfaction and market share compared to competitors like Lawson and FamilyMart, necessitating a focus on product differentiation and service improvement [4][22]. - Daisuke aims to restore the entrepreneurial spirit of the company's founders by enhancing customer trust and communication, particularly among younger demographics [16][17]. Group 5: Organizational and Governance Changes - There is a need for organizational reform to address the challenges of managing both domestic and international operations effectively, with a focus on improving governance structures [19][21]. - The company is under pressure to balance its domestic and U.S. operations, as the latter has shown higher sales performance, raising questions about resource allocation and management focus [18][19].

Group 1 - The article highlights a tragic trend in the business world, where five prominent entrepreneurs have committed suicide within a few months, indicating the severe pressures faced by business leaders [1] - The individuals mentioned include founders and CEOs from various industries, such as the founder of Shaoxing Jindianzi, Liu Wenchao from Xizi Elevator, and Wang Linpeng from Juran Smart Home, all of whom faced significant personal and professional challenges [1] - The deaths have sparked widespread concern and reflection on the mental health issues and pressures that entrepreneurs endure in a volatile business environment [1] Group 2 - The narrative shifts to the inspiring story of Mr. Mou Qizhong, who, despite facing numerous life challenges, including wrongful imprisonment and severe financial difficulties, has maintained a resilient spirit and continues to pursue his entrepreneurial dreams at the age of 85 [3][4] - Mr. Mou's life exemplifies the entrepreneurial spirit of perseverance and hope, serving as a motivational figure for younger generations, particularly in the context of the struggles faced by business owners [3][4] - The article emphasizes the importance of courage in entrepreneurship, suggesting that enduring hardships and maintaining hope are crucial for success in the business landscape [4][6] Group 3 - The piece reflects on the broader theme of entrepreneurship as a challenging journey filled with risks and uncertainties, often described as a "life-and-death" struggle [6] - It acknowledges the hidden struggles behind successful entrepreneurs, emphasizing that their achievements often come with significant personal sacrifices and hardships [6][7] - The narrative encourages business leaders to persist through difficulties, drawing inspiration from Mr. Mou's unwavering commitment to his dreams, and highlights the responsibility entrepreneurs have towards their families, employees, and communities [7][9]

Group 1: Investment Background and Performance - Elise McKay, co-portfolio manager of Pendal's Horizon fund, has a diverse background in finance, having worked at Ernst & Young and JPMorgan before joining Pendal [3][5] - The Horizon sustainable Australian equities fund, managed by McKay and Crispin Murray, ranked fourth in the latest Mercer quarterly survey, indicating strong performance [2][5] - The fund has achieved a 20% return over the past year, outperforming the benchmark index which returned 13.17% [5] Group 2: Key Holdings and Market Strategy - The fund's significant holdings include Qantas, Technology One, Telstra, Evolution Mining, Xero, and Commonwealth Bank, contributing to substantial gains [3][5] - Commonwealth Bank's market capitalization recently surpassed 300 billion AUD, highlighting its importance in the portfolio [3] - McKay's strategy includes taking profits after a 30% surge in A2 Milk's stock and increasing positions in NextDC during its decline, viewing it as undervalued [6][7] Group 3: Company Insights and Future Outlook - McKay remains optimistic about Xero, which saw a 12% increase in May, citing its effective capital return and growth in global subscription users [8] - Downer EDI, another company of interest, has risen 14.5% this year, with improvements in governance despite facing regulatory challenges [9] - Seven Group Holdings, controlled by the Stokes family, is also viewed positively, particularly as the residential construction market is expected to recover [9]

Core Viewpoint - The article highlights the entrepreneurial journey of Nicholas Tse, emphasizing his dedication to self-identity and excellence in both the entertainment and culinary industries, particularly through his brand "Feng Wei" [3][4]. Group 1: Culinary Ventures - In 2014, Nicholas Tse launched the culinary show "12 Flavors of Feng," aiming to promote food culture and share personal stories through culinary experiences [9]. - The "Feng Wei" brand has achieved significant success, with cumulative sales of its signature products reaching 1.5 billion yuan, and it has become a household name in over 160 cities with more than 15,000 stores [12]. - The brand's products, such as the juicy sausages and pasta, have become top-selling items, with 65% of consumers making repeat purchases within three months [12]. Group 2: Entrepreneurial Journey - Tse began his entrepreneurial journey at the age of 19, investing his earnings from acting and music into real estate, and later founded his first company, PO Chao Ting, which specialized in digital post-production [15][16]. - The company quickly gained traction, becoming a leading post-production house in Asia, and Tse maintained a low profile during its early years to focus on quality and results [20]. - By 2010, PO Chao Ting had grown significantly, handling major projects and achieving profitability, eventually selling the company for over 100 million HKD [21]. Group 3: Cultural Impact and Brand Philosophy - Tse's motivation for establishing PO Chao Ting was to elevate Hong Kong's film industry and create a sustainable business that adds social value [16][23]. - He aims to promote Chinese cuisine globally, viewing food as a cultural symbol that connects people and represents national identity [24]. - Tse has also invested in domestic brands like Xtep, demonstrating his commitment to supporting local enterprises and the "Guochao" movement [26].

Company Development - The company, Yujing Food Co., Ltd., was founded by Xie Yingzhu with an initial investment of 100,000 yuan, leveraging her experience in the food import and export sector [3] - The company has expanded from an initial area of over 100 square meters to more than 5,600 square meters, and its product range has grown to over 100 types of condiments [6] - Yujing Food Co., Ltd. has achieved various certifications, including being recognized as a "National Quality Credit Enterprise" in 2003 and receiving multiple honors for credit and contract adherence from 2012 to 2015 [6] Industry Influence - Xie Yingzhu holds multiple leadership roles within the industry, including positions in the Jiangmen City Federation of Industry and Commerce and the Jiangmen Food Industry Association, enhancing her influence in the sector [7] - She has actively contributed to the development of the food industry by providing constructive suggestions to government departments and helping local businesses address challenges such as funding and logistics [9] Social Responsibility - The company engages in various charitable activities, including funding education for impoverished students and establishing the Yujing Charity Fund to support those in need [11] - Xie Yingzhu has donated over 300,000 yuan to assist single mothers and children in distress, demonstrating a strong commitment to social welfare [11] Family and Values - The company’s ethos is deeply rooted in traditional family values, with Xie Yingzhu emphasizing the importance of integrity and altruism instilled by her parents [13] - The commitment to family values is reflected in the company's culture, aiming to pass on these virtues to future generations [13]

Group 1 - Alibaba is reportedly not canceling its "1+6+N" organizational structure, which was established in March 2023 as part of a significant governance reform [1] - The "1+6+N" structure includes six major business groups under Alibaba Group, with each group having its own board and a CEO responsible for operations [1] - The governance reform was described as Alibaba's most important organizational change in 24 years, with the potential for independent financing and IPOs for qualifying business groups [1] Group 2 - Alibaba has restarted its internal job transfer mechanism and opened its internal network, indicating a shift in internal operations [2] - CEO Wu Yongming emphasized a return to the entrepreneurial spirit and a focus on core business strategies, stating that the company will operate with a startup mentality for the next decade [2] - The "Lakeside Cabin," a replica of Alibaba's original startup environment, was introduced at the headquarters to symbolize the company's ongoing commitment to innovation [2][3] Group 3 - On May 10, which marks the 21st "Ali Day," co-founder Jack Ma encouraged employees to maintain their entrepreneurial spirit and continue innovating [3]

Core Viewpoint - The program "Entrepreneurship Talk" showcases the entrepreneurial spirit and innovation in Hunan, featuring SANY Group's Chairman Xiang Wenbo as a mentor to young entrepreneurs, emphasizing the importance of social responsibility and self-motivation in entrepreneurship [2][9]. Group 1: Xiang Wenbo's Entrepreneurial Journey - Xiang Wenbo transformed a local welding materials factory into a global engineering machinery giant over nearly 40 years, highlighting the challenges faced during the early stages of his career [2]. - He emphasizes the combination of self-drive and social responsibility as essential traits of successful entrepreneurs [2]. Group 2: Young Entrepreneurs' Innovations - He Yao's remote control system allows operators to manage equipment from a safe environment, enhancing safety and efficiency, but he is advised to focus on retrofitting existing equipment and collaborating with SMEs for differentiation [5][6]. - Li Zhaorui's concrete decarbonization agent can reduce cement usage by 30%-50% and lower carbon emissions, while also increasing profit margins for mixing stations by over 20% [6]. Group 3: Entrepreneurial Philosophy and Management Insights - Xiang Wenbo shares insights on the importance of resource acquisition and problem-solving capabilities for entrepreneurs, stressing that success is not easily replicable [7]. - He advocates for a balance between flat and structured management, using examples from SANY's operations to illustrate the efficiency of streamlined communication in small teams [7]. - The future of competition is framed as a contest of quality rather than quantity, urging entrepreneurs to strive for excellence in their respective fields [7][9].