source： 南华研究,同花顺 棉花风险管理策略建议 | 行为 | 情景分析 | 现货 | 策略推荐 | 套保工具 | 买卖 | 套保比例 | 建议入 | | --- | --- | --- | --- | --- | --- | --- | --- | | 导向 | | 敞口 | | | 方向 | | 场区间 | | 库存 | 库存偏高，担心棉价下 | | 为了防止存货叠加损失，可以根据企业的库存情 况，做空郑棉期货来锁定利润，弥补企业的生产 | CF2509 | 卖出 | 50% | 14200- 14400 | | 管理 | 跌 | 多 | 成本 | | | | | | | | | 卖出看涨期权收取权利金降低成本，若棉价上涨 还可以锁定现货卖出价格 | CF509C14400 | 卖出 | 75% | 180-22 0 | | 采购 管理 | 采购常备库存偏低，希 望根据订单情况进行采 购 | 空 | 为了防止棉价上涨而抬升采购成本，可以在目前 阶段买入郑棉期货，在盘面采购来提前锁定采购 成本 | CF2509 | 买入 | 50% | 13600- 13700 | | | | | 卖出看跌期权收取权 ...

点击下方 卡片 ，关注" 具身智能 之心 "公众号 作者丨 Ang Li等 编辑丨具身智能之心 本文只做学术分享，如有侵权，联系删文 >> 点击进入→ 具身智能之心 技术交流群 更多干货，欢迎加入国内首个具身智能全栈学习社区 ： 具身智能之心知识星球 (戳我) ， 这里包含所有你想要 的。 背景 人类在解决复杂问题时，常借助图表、草图等视觉辅助工具。训练多模态模型实现类似能力——即视觉思 维链（visual CoT），面临两大挑战：一方面，现有视觉CoT性能欠佳，阻碍了强化学习的应用；另一方 面，缺乏高质量的视觉CoT训练数据。 当前，尽管前沿多模态模型在视觉CoT方面取得一定进展，主要通过代理管道利用外部工具实现视觉编 程，但具备 interleaved 文本和图像生成能力的模型，要么无法生成有用的推理视觉辅助工具，要么未在推 理过程中进行固有的多模态生成训练，导致推理的强化学习方法难以实施。同时，专门模型虽在特定场景 （如合成迷宫）展示了视觉CoT，但通用高质量视觉CoT的基础模型仍缺失，主要原因是缺乏大规模、多样 化的 interleaved 文本-图像推理训练数据集。 1. 提出Zebra-CoT，一 ...

Core Insights - Altria Group's on! nicotine pouch brand is experiencing significant growth, with shipments increasing by 18% to 39.3 million cans in Q1 2025, contrasting with declines in traditional brands [1][8] - The on! brand now holds an 8.8% share of the total oral tobacco market and a 17.9% share of the nicotine pouch segment, despite rising competition [2][8] - Helix, the manufacturer of on!, has successfully increased brand awareness to over 60% through its "It's On!" campaign, enhancing consumer loyalty [3][8] Market Performance - Philip Morris International's ZYN brand leads the nicotine pouch category, shipping over 200 million cans in Q1 2025, a 63% increase year over year, maintaining over 70% of category value [5] - Turning Point Brands reported a nearly tenfold increase in modern oral revenues to $22.3 million in Q1 2025, raising its full-year nicotine pouch sales forecast to $80-$95 million [6] Valuation and Earnings Estimates - Altria's shares have declined by 2.6% in the past month, while the industry saw a smaller decline of 0.8% [7] - The forward price-to-earnings ratio for Altria is 10.8X, lower than the industry's average of 15.21X [10] - Zacks Consensus Estimates indicate year-over-year earnings growth of 4.9% for 2025 and 3.1% for 2026 [11]

Canada's boycott of US spirits slashed American liquor sales — but it’s also hurting Canadian brands https://t.co/Gp5S6sWiFR ...

Canadians say they’re ramping up their boycott of US travel and products in response to US President Donald Trump’s tariffs, and the country’s central bank is taking notice https://t.co/qzv3jCuscC ...

This section here traditionally would have been filled with U.S. corn. Customers love it because it's a great product. What started as a big display has been shrunk.In response to U.S. tariffs and President Trump's threats to annex Canada, 71% of Canadian consumers say they intend to buy fewer American products this year. That's having an impact. The US economy could lose up to 0.3% of its GDP, or about $90 billion, in 2025, due to the boycott of American goods and the decline in foreign tourism.Giancarlo M ...

GThinker 的核心在于其创新的 「线索引导式反思（Cue-Guided Rethinking）」 模式，它赋予了模型在推理过程中主动校 验、修正视觉理解的能力。 通过精心设计的两阶段训练流程，GThinker 在极具挑战性的 M³CoT 综合推理基准上取得了 超越了最新的 O4-mini 模型 ，并 在多个数学及知识推理榜单上展现出 SOTA 性能，证明了该方法的有效性和泛化能力。目前，论文、数据及模型均已开源。 尽管多模态大模型在数学、科学等结构化任务中取得了长足进步，但在需要灵活解读视觉信息的通用场景下，其性能提升瓶 颈依然显著。现有模型普遍依赖基于知识的思维模式，却缺乏对视觉线索的深度校验与再思考能力，导致在复杂场景下频繁 出错。 为解决这一难题， 来自中科院自动化研究所紫东太初大模型研究中心的研究者 提出 GThinker，一个旨在实现通用多模态推 理的新型多模态大模型。 慢思考的瓶颈： 当模型在通用场景「视而不见」 论文链接： https://arxiv.org/abs/2506.01078 项目地址： https://github.com/jefferyZhan/GThinker 开源仓库： ...

Louisville, Colorado, July 18, 2025 (GLOBE NEWSWIRE) -- CEA Industries Inc. (NASDAQ: VAPE) (“CEA Industries” or the “Company”), owner of Central Canada’s largest independent vape retailer and vertically integrated manufacturer, Fat Panda Ltd., today issued a statement applauding the U.S. Food and Drug Administration’s (FDA) decision to authorize JUUL e-cigarette products for sale in the United States. The announcement follows the FDA’s reversal of its 2022 federal ban, marking a significant milestone in the ...

Multiple Tobacco Brands Partnering with 22nd Century to Expand Availability and Awareness of VLN Based Reduced Nicotine Content Products Manufactured in the USA, VLN Products from 22nd Century Provide Clinically Proven Solution to Reduce the Rate and Harms of Smoking MOCKSVILLE, N.C., July 16, 2025 (GLOBE NEWSWIRE) -- 22nd Century Group, Inc. (Nasdaq: XXII), the only tobacco products company that has for 27 years led and continues to lead the fight against the harms of smoking driven by nicotine addiction ...

Multiple Tobacco Brands Partnering with 22nd Century to Expand Availability and Awareness of VLN Based Reduced Nicotine Content Products  Manufactured in the USA, VLN Products from 22nd Century Provide Clinically Proven Solution to Reduce the Rate and Harms of Smoking MOCKSVILLE, N.C., July 16, 2025 (GLOBE NEWSWIRE) -- 22nd Century Group, Inc. (Nasdaq: XXII), the only tobacco products company that has for 27 years led and continues to lead the fight against the harms of smoking driven by nicotine addiction ...