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新浪财经CEO邓庆旭:鸿蒙系统一定能走出一条“微笑曲线”
Xin Lang Cai Jing· 2025-08-16 14:38
专题:鸿蒙5设备数突破千万,余承东如何回应外界的质疑? 他举了两个鸿蒙操作系统的优势,一是文件传输,以往在两个设备之间传输视频等大文件可能需要很 久,而鸿蒙操作系统的传输效率非常高,设备一碰就实现了传输;二是一次开发,多端适配。以往开发 者需要在多个终端上进行应用开发和适配,而鸿蒙操作系统只需要一次开发,就能实现所有的终端版本 适配,开发效率也非常高。 邓庆旭表示,做操作系统很难,历史上的操作系统都有一条微笑曲线,一开始你对它无感,到你痛苦, 再到微笑曲线形成。回望一下那些成熟的操作系统,诞生时都非常艰难。比如苹果的iOS,苹果诞生在 一个诺基亚如日中天的年代里,当时诺基亚手机的待机时间是3~5天,而苹果初代手机只有一天,甚至 不能发中文短信,不能识别中文通讯录。 鸿蒙操作系统也经历了一个非常坚定的抉择和痛苦的过程,发展数年之后,现在已经更加完善。他提 到,这个痛苦的过程也正在出现一些回报。以新浪财经App为例,在鸿蒙生态的助力下,8个月用户活 跃度增长了7倍。鸿蒙操作系统的推出,其实也给中国的开发者提供了一个全新的机会,我们的开发者 一样很优秀,在鸿蒙生态政策的激励下,相信一定会诞生更多优秀的应用。 "发展 ...
过去几年坚持定投,现在会怎么样了?
天天基金网· 2025-08-01 12:01
Core Viewpoint - The article discusses the performance of systematic investment plans (SIPs) in the A-share market, highlighting the benefits and challenges of maintaining such investment strategies over different time frames [2][3]. Investment Scenarios Scenario 1: One-Year Investment - Investors who started a SIP of 1,000 yuan per month from July last year have seen a total investment of 12,000 yuan, with a current asset value of 16,165.2 yuan, resulting in a return of 4,165.2 yuan or 34.71% [4][5][8]. - The article notes that SIP returns were lower than a lump-sum investment due to the market's upward trend since September last year, which favored one-time investments [5]. Scenario 2: Three-Year Investment - For a SIP starting three years ago, the total investment of 36,000 yuan has grown to 40,782.01 yuan, yielding a return of 4,782.01 yuan or 13.28% [9][10]. - In contrast, a lump-sum investment of the same amount resulted in a loss of 2,548.8 yuan or -7.08%, demonstrating the effectiveness of SIPs during market volatility [10]. Scenario 3: High Point Investment - Starting a SIP at the market's peak in early 2021 led to a return of -26.21% by September 2024, while a lump-sum investment faced a more significant loss of -38.68% [11][15]. - However, by July this year, the SIP had begun to recover, outperforming the lump-sum investment [15][16]. Scenario 4: Five-Year Investment - A five-year SIP resulted in a total investment of 60,000 yuan, with current assets valued at 62,570.33 yuan, yielding a return of 2,570.33 yuan or 4.28% [19][20]. - The lump-sum investment of the same amount only returned 59298 yuan, resulting in a loss of 702 yuan or -1.17% [20]. Investment Principles - The article emphasizes that SIPs can effectively average out investment costs and mitigate short-term market fluctuations, but they require discipline to maintain during downturns [24][25]. - It highlights the importance of continuing SIPs even during losses, as they can lead to acquiring more shares at lower prices, which benefits investors when the market rebounds [25][28]. Market Context - The article references the A-share market's performance since the COVID-19 pandemic, noting that starting a SIP during market lows can yield significant returns as the market recovers [32][35]. - It also discusses the psychological challenges investors face during prolonged downturns, which can lead to premature cessation of SIPs, potentially missing out on future gains [38][40]. Conclusion - The article concludes that SIPs should be viewed as a long-term investment strategy, akin to planting a seed that requires patience and consistency to yield returns over time [44].
活力中国调研行丨从“世界工厂”到“潮玩之都” 东莞“智造力”让创意变爆款
Xin Lang Cai Jing· 2025-07-05 02:21
Core Insights - Dongguan, known as the "World Factory," is emerging as a hub for the trendy toy industry, being referred to as "China's Trendy Toy Capital" [1] - Approximately 85% of trendy toy products in China are produced in Dongguan, with over half originating from Shipai Town [1] Group 1: Manufacturing and Innovation - Dongguan's manufacturing capabilities are highlighted by the rapid production of a 27-meter giant emblem for the 2022 Qatar World Cup, completed in just 33 days [7] - The local supply chain can respond quickly, with automated production lines and AI assistance reducing the time from design to finished product to mere hours [9] - Dongguan is transitioning from merely producing for others to creating its own products and promoting its culture globally [11] Group 2: Cultural Integration and Market Expansion - The emergence of original local IPs, such as the "Ben Chao Gang Mu" themed trendy toys, showcases the blend of traditional culture with modern gaming [3] - The "Wa San Sui" toy has gained immense popularity in Southeast Asia, demonstrating the global appeal of Dongguan's innovative products [5] - The synergy of creativity, efficient supply chains, and cultural elements is driving the global success of Chinese trendy toys [13]
创意“牵手”供应链、文化“撞上”大市场,活力无穷!中国潮玩书写活力故事
Yang Shi Wang· 2025-07-03 09:00
Core Viewpoint - Dongguan, known as the "World Factory," is transforming into a vibrant hub for trendy toys, earning the title of "China's Trendy Toy Capital" with over 85% of the country's trendy toy products originating from the city [1][4]. Group 1: Manufacturing and Innovation - Dongguan's manufacturing capabilities are highlighted by its rapid production times, exemplified by a project where a scaled model of a giant sculpture was completed in just 33 days [10]. - The city has shifted from low-margin assembly work to creating its own products and cultural narratives, moving up the value chain [13][21]. - The local supply chain's responsiveness allows for the transformation of creative ideas into finished products within hours, showcasing the efficiency of automated production lines and AI assistance [13]. Group 2: Cultural Impact and Market Reach - The emergence of original intellectual properties (IPs) in Dongguan is gaining global popularity, indicating a shift from mere manufacturing to cultural creation [21]. - The combination of creativity and an efficient supply chain has led to a dynamic market presence, with Chinese trendy toys making their mark worldwide [20]. - Dongguan's evolution reflects a broader trend of infusing Chinese cultural vitality into the global market, enhancing the perception of "Made in China" products [21].
展望下半年全球经济,汇丰最新发声!
券商中国· 2025-07-01 23:22
Core Viewpoint - The global economy is expected to face increased downward pressure, with HSBC projecting a slowdown in global trade growth and economic growth in the coming years [2][4]. Economic Outlook - HSBC forecasts that global goods and services trade export growth may decline to 1.8% year-on-year by 2025, with global economic growth slowing to 2.5% during the same period [2][4]. - The uncertainty surrounding tariff policies is likely to pressure exports and investments in Asia, although many economies in the region can adopt expansionary macroeconomic policies to mitigate some impacts [3][6]. China’s Economic Resilience - Despite global uncertainties, China's economy remains resilient, with a focus on long-term stability and structural reforms [9][12]. - Recent structural reforms, such as the removal of household registration restrictions for social insurance and the implementation of the Private Economy Promotion Law, indicate a long-term policy direction [9]. - The shift in trade dynamics is evident, with ASEAN becoming China's largest export destination, and Mexico surpassing China as the largest source of U.S. imports [10][11]. Trade and Investment Trends - A survey conducted by HSBC revealed that 44% of global enterprises plan to increase trade with China, making it the most favored market for trade growth [14]. - In manufacturing, 40% of surveyed companies are currently or plan to increase production in China, second only to Europe [15]. - Asian enterprises show a higher inclination to increase trade and manufacturing in China compared to the global average, with 54% and 52% respectively [16]. Conclusion - The evolving global trade landscape highlights China's central role, with deepening economic ties within Asia and increasing trade corridors with the Middle East [17].
[6月27日]指数估值数据(港股医药回低估了么;港股估值表更新;抽奖福利)
银行螺丝钉· 2025-06-27 13:59
Core Viewpoint - The article discusses the current market trends, focusing on the performance of various sectors, particularly technology and healthcare, and the valuation of indices in the Hong Kong stock market. Group 1: Market Performance - The overall market showed little fluctuation, closing at 4.9 stars [1] - Major indices like the CSI 300 experienced slight declines, while the CSI 500 and CSI 1000 saw minor increases [2] - The banking index, which had previously surged, faced significant declines, impacting large-cap stocks, alongside a downturn in the consumer sector [3] - Technology and healthcare sectors experienced overall gains [4] - The Hong Kong stock market exhibited minimal volatility [5] Group 2: Healthcare Sector Analysis - The Hong Kong healthcare index has recently corrected after a period of high growth, returning to normal valuation levels [6][31] - The healthcare industry is categorized into three common sub-sectors: medical services, biotechnology, and innovative pharmaceuticals [6] - Medical services include hospitals and medical devices, while biotechnology focuses on gene diagnostics and biopharmaceuticals [6][7] - The innovative pharmaceuticals sector primarily involves drug development, with many companies operating in both biotechnology and innovative pharmaceuticals [7] Group 3: Valuation Trends - The article outlines a "smile curve" concept, indicating that during periods of slowing growth or declining profits, valuations and stock prices tend to decrease [17] - The Hong Kong technology sector was the first to enter a recovery phase, with significant profit growth observed in 2024 after a steep decline of over 60% from 2021 to 2022 [19][20] - The healthcare sector followed a similar recovery pattern, with profit growth resuming in late 2023 and early 2024, leading to an increase in valuations [23] - The Hang Seng Index reported a 16% year-on-year profit growth in Q1 2024, indicating a dual effect of performance recovery and valuation increase [24] Group 4: Future Outlook - If the Hong Kong market maintains similar profit growth rates in Q2 as in Q1, further increases in stock prices may be anticipated [25] - The A-share market is expected to enter a recovery phase, albeit later than the Hong Kong market, with profit growth also observed in Q1 2024 [27][28] - Long-term projections suggest that returns from A-shares and Hong Kong stocks will be comparable, despite differing phases of market movements [30] Group 5: Index Valuation - After recent short-term increases, both the Hong Kong technology and healthcare sectors have returned to normal valuation levels, though they are not far from being undervalued [31][32] - A valuation table for Hong Kong indices is provided, indicating various metrics such as P/E ratios and dividend yields [36][37]
吴晓波对话奔图何林:“拉直”那条微笑曲线
吴晓波频道· 2025-06-22 17:02
Core Viewpoint - The article discusses the transformation of Chinese manufacturing from "Made in China" to "Created in China," emphasizing the importance of innovation and technology in enhancing value along the "smile curve" [2][4][7]. Group 1: The Smile Curve Concept - The smile curve illustrates the value addition in manufacturing, with technology and branding on the left and right ends, while assembly and manufacturing are in the middle, representing low profit margins [2][3]. - Flattening the smile curve involves achieving both scale and price advantages alongside brand marketing and core technology, a breakthrough that is currently occurring in China [4]. Group 2: Case Study of Print Technology - The article highlights the case of Pantum, which has developed 200,000 patents, establishing a significant barrier to entry in the laser printer market, making it one of the few countries with core technology in this field [13][14]. - Pantum's journey from a consumables company to a major player in the printer market illustrates the importance of independent R&D and the development of a robust supply chain [17][18]. Group 3: Market Dynamics and Consumer Behavior - The shift towards a consumer society is evident, with a focus on enhancing domestic demand and addressing the increasingly rational and segmented consumer base [42]. - The "trade-in" model has proven effective, with sales increasing by over 50% during promotional events, demonstrating the impact of targeted marketing strategies [43][51]. Group 4: Innovation and Collaboration - The partnership between Pantum and JD.com has facilitated the development of innovative products tailored to specific market needs, enhancing user experience and driving sales [32][34]. - The integration of technology and service capabilities has become crucial for success, as companies must now respond to consumer demands rather than solely producing based on their capabilities [52][56]. Group 5: Conclusion and Future Outlook - The article concludes that the ability to navigate uncertainties and leverage innovation will determine the success of companies in the evolving market landscape [58][60]. - The ongoing collaboration between manufacturing and internet platforms signifies a trend towards a more integrated approach to product development and consumer engagement [55][56].
微笑曲线是咋来的,为何会有左侧下跌,又有右侧上涨呢?|投资小知识
银行螺丝钉· 2025-06-21 10:20
Core Viewpoint - The article emphasizes the importance of strategic asset allocation for families to optimize their wealth management and investment returns [1] Group 1: Industry Insights - The current market environment presents both challenges and opportunities for investors, particularly in the context of rising interest rates and inflation [1] - Diversification across various asset classes is highlighted as a key strategy to mitigate risks and enhance returns [1] Group 2: Company Analysis - Companies that adapt to changing market conditions and consumer preferences are more likely to succeed in the long term [1] - The article discusses specific sectors that are expected to perform well, including technology and renewable energy, due to increasing demand and innovation [1]
工位不够用的安克创新:浅海竞渡
Core Insights - Anker Innovations has experienced rapid growth, with a market capitalization reaching 60 billion yuan, significantly outperforming competitors like Ugreen Technology and Yingshi Innovation [2] - The company generated revenue of 24.71 billion yuan in 2024, marking a year-on-year increase of 41.14%, with net profit also growing by nearly 30% [3] - Anker's product categories are expanding beyond power banks, with energy storage, home automation, and smart audio being key segments [2][3] Revenue Breakdown - The energy storage segment accounted for nearly 50% of Anker's revenue in 2024, totaling 12.67 billion yuan, with the single energy storage business generating 3.02 billion yuan, a remarkable year-on-year growth of 184% [5] - Anker's successful entry into the household energy storage market is attributed to its innovative products, particularly the Sunshine Energy series, which has achieved the highest sales globally [5][6] Strategic Approach - The founder, Yang Meng, emphasizes a "shallow sea" strategy, focusing on product categories with sales scales below 50 billion USD, allowing for efficient resource allocation and rapid product iteration [4][7] - Anker has invested over 1.7 billion yuan in research and development, with 70% of its workforce dedicated to R&D [7] Employee and Profit Sharing - Anker is committed to profit sharing, distributing 797 million yuan in cash dividends, which represents 37.71% of its net profit, and awarding 800 million yuan in bonuses to employees [12][13] - The company maintains a flat organizational structure, with a significant number of employees earning over 1 million yuan annually, reflecting high efficiency [13][15] Business Model - Anker's business model focuses on capturing high-value segments of the supply chain, engaging in R&D, development, and brand operations while outsourcing production [15] - The company has a flexible manufacturing strategy, allowing it to switch production across various locations to mitigate risks associated with unstable tariff policies [15]
[6月13日]指数估值数据(下跌的品种,何时迎来右侧上涨呢;港股估值表更新;抽奖福利)
银行螺丝钉· 2025-06-13 13:54
Core Viewpoint - The article discusses the current state of the stock market, emphasizing the importance of understanding market cycles and the potential investment opportunities during different phases of the market, particularly in the context of the "smile curve" investment strategy. Market Overview - The A-share market experienced slight declines, with large-cap stocks showing minimal volatility while small-cap stocks faced more significant drops [2][3] - The value style of investing has proven to be relatively resilient during this period [3] - The Hong Kong stock market also saw declines, but it has been relatively strong compared to A-shares, with the Hang Seng Index's drop being less severe [5][7] - The Hong Kong dividend index has shown strength, indicating a positive trend in dividend-paying stocks [8] Global Market Context - Global stock markets are experiencing fluctuations primarily due to regional conflicts, which are affecting investor sentiment but are not expected to have a significant impact on the operational performance of listed companies [10][11][12] Investment Strategy Insights - The article introduces the concept of the "smile curve" in investment, highlighting the benefits of dollar-cost averaging during market downturns to lower costs and achieve profitability when the market recovers [14] - The formula for index returns is presented: Index Value = Valuation * Earnings + Dividends, emphasizing the role of earnings growth as a key driver for long-term index appreciation [16][20] - Historical data shows that earnings growth is not uniform, with certain years experiencing slowdowns or negative growth, while others see rapid growth [21][22] Sector Performance Analysis - Specific sectors are analyzed in the context of the current market cycle: - Technology stocks in Hong Kong have recently entered a recovery phase after significant declines in 2021-2022, with earnings expected to rebound in 2024-2025 [27] - The pharmaceutical sector is following a similar trajectory but is lagging by about two years [28] - The consumer sector is still in a downturn, similar to the pharmaceutical sector two years ago, indicating ongoing challenges [29] - The Hang Seng Index has shown a 16% year-on-year earnings growth in Q1, ranking among the top global indices [31][32] Investment Philosophy - The article emphasizes that economic downturns can present investment opportunities, while overly optimistic views during economic booms can lead to market corrections [35][36] - The cyclical nature of the economy means that investors should be prepared for both low and high market phases, with the potential for attractive buying opportunities during downturns [34]