RT voh 🔺 (@vohvohh)The era of creating blockchains just to create blockchains is dyingAll blockchains, regardless of their functional layer, are facing an existential crisis right now: there are too many chains and they’re basically all doing the same thing.Regardless of niche technical capabilities, most chains have zero moat or impactful differentiation. It won’t be long until we see chains reduce spend to baseline operating costs or simply fade into irrelevance with no way to keep the lights on.Creating ...

The thing that is fundamentally different about this product cycle is that the software itself can actually do the work and therefore the market opportunity for software today is no longer just IT spend. It's largely labor. It's not like all the jobs will go away.I actually think that's not going to happen at all. There are a lot of things where if I could hire somebody for a dollar to do this task, I would 100% do that. I've never been able to hire somebody for a dollar. Now I can hire software for a dolla ...

مرحبا يا جماعه كيفكم يسلموا نادين ويسلموا لتدكس تطبيقيه والتيم الفخر اللي عمل ها اللمه الحلوه بامنا يعطيكم العافيه اول شيء بدي اسمع كف لكم كلكم اللي قاعدين عم تحضروا [تصفيق] بصراحه حبيت اجي اليوم بكير واحضر كل سبيكر شو عم ححكي وفي ناس منكم اجا جديد وفي منكم حضر قبل بس اذا انتبهنا كلياتنا كل سبيكر كان عم بيحكي شغله كنا عم نتطلع بنحكي يا اخي هذا الشخص ضرب بمكان معين افنان ضرب اربطه في مكان معين ساره رامي الحمراء التركيه كل شخص اذا بنتهي بقصه اللي طلع حكاها بهذا الستيج لمده ربع ساعه ضرن وصراحه انا كنت حابب احك ...

Summary of Key Points from the Conference Call Industry Overview - **Industry**: China's Manufacturing Sector - **Key Themes**: Transition driven by domestic consumption shifts, global trade dynamics, and technology innovation [1][2] Core Insights - **Demand Recovery**: Recovery in demand remains uneven and fragile, with weak performance reported in Q2, particularly from April to May due to deteriorating consumer sentiment and tariff-related uncertainties [2][3] - **Bright Spots**: Industrial robots and painting sectors show signs of demand bottoming out, while exports have emerged as a relative bright spot for several companies [2][3] - **Manufacturing Evolution**: China's manufacturing is evolving through differentiation, globalization, localization, and new economies, rather than losing competitiveness [3][4] Company-Specific Insights Skshu (603737 CH) - **Performance**: Retail sales growth remained in single digits due to a high base in Q2 2024, with a full-year target near 10% [13][16] - **New Retail Strategy**: Aims to increase new retail's revenue contribution from 23% to 40% by 2025, targeting 15% market penetration in 3-5 years [13][16] - **Profitability Goals**: Long-term profit margin target above 10%, with a focus on reducing expense ratios and increasing gross margins [16][19] Shuanghuan (002472 CH) - **Demand Momentum**: NEV gear sales estimated to grow over 30% YoY in Q2, with strong demand from major clients like Xiaomi and XPeng [11][8] - **Expansion Plans**: Adding capacity in Hungary due to strong local demand, with a focus on maintaining competitive pricing despite cost inflation [4][11] Jack Technology (603337 CH) - **Sales Growth**: Management targets around 20% YoY sales growth in 2025, with strong overseas sales expected to outperform domestic growth [20][24] - **Product Differentiation**: Focus on hardware-software integration and innovative product offerings to compete with Japanese brands [24][25] Weixing (002003 CH) - **Market Challenges**: Domestic demand is weak, particularly in mid-to-high-end apparel accessories, with a cautious outlook for 2025 [29][30] - **Overseas Opportunities**: Gaining share in Adidas and Nike's supply chains, despite overall U.S. consumer sentiment weakening [29][30] Vasen New Building Materials (002372 CH) - **Weak Domestic Demand**: Q2 performance worse than Q1, with shipment volumes declining over 10% YoY [31][33] - **Market Position**: Holds a 20% national market share in China's PPR pipes market, with ambitions to reach 40% over the next decade [33] Yinlun (002126 CH) - **Customer Base**: Serves a diversified customer base across passenger vehicles, commercial vehicles, and digital energy, with Tesla as the largest customer [37][36] - **Growth Projections**: Targets a CAGR of 20% over the next five years, driven by overseas expansion [37][36] Additional Insights - **Tariff Impact**: The indirect impact of tariffs has led to cautious order behavior among clients, affecting overall demand [2][29] - **Investment Trends**: Companies are increasingly focusing on product innovation and customization to differentiate themselves in a competitive landscape [4][20] - **Market Dynamics**: The global valve market is projected to grow significantly, with Neway aiming for Rmb10 billion in revenue by 2028 [59][62] Conclusion The conference call highlighted the complexities and challenges facing China's manufacturing sector, with a focus on evolving strategies for differentiation and globalization. Companies are navigating a fragile recovery landscape while seeking to capitalize on emerging opportunities both domestically and internationally.

Competitive Landscape - The time to clone a company has drastically reduced from approximately 1 year 25 years ago to 6-9 months 15 years ago [1] - Currently, the time to clone a company can be as short as 10 days [2] - Many new products lack significant differentiation or added value compared to existing solutions [2]

ITT 2025 Investor Day Summary Company Overview - ITT is a global manufacturing leader specializing in critical components for harsh environments across various industries including energy, chemicals, automotive, and defense [6][12][18] Key Themes and Strategies - **Differentiation**: The company emphasizes differentiation through execution and innovation, aiming for scalable growth and long-term value creation [5][22][41] - **Organic Growth**: ITT has achieved over 9% organic revenue growth and more than 13% average earnings per share (EPS) growth over the past three years [13][14] - **Mergers and Acquisitions (M&A)**: ITT plans to invest $500 to $700 million annually in M&A to acquire market-leading companies in high-margin sectors [34][36] Financial Targets for 2030 - Revenue growth target of 10% total, with 5% organic growth - Adjusted operating margin target of 23% or EBITDA higher than 25% - Adjusted EPS target of more than $12 - Free cash flow margin target between 14-15% [40] Business Segments 1. **Industrial Process**: Focus on pumps and valves, with significant market share in North America and a backlog growth of 16% over the last four years [52][53] 2. **Motion Technologies**: Global leader in brake pads and shock absorbers, with a strategic focus on electric vehicles and high-performance markets [16][25] 3. **Connect and Control**: Specializes in connectors for aerospace and defense, with a strong emphasis on rapid prototyping and customer-centric solutions [84][93] Market Position and Growth - ITT has shifted its portfolio, reducing automotive business from 46% of revenue in 2018 to approximately 31% today, while focusing on higher growth sectors [23][24] - The company aims to maintain growth in Motion Technologies while expanding its Connect and Control and Industrial Process segments [25][26] Operational Excellence - ITT's operational strategy includes a relentless focus on continuous improvement, lean manufacturing, and customer-centricity, which has resulted in a 96% on-time delivery performance over the last four years [60][77] - The company has implemented a culture of safety and quality, with significant investments in employee training and development [74][75] Innovation and Technology - ITT is committed to innovation, with recent developments in green technologies and advanced materials, such as a new type of brake pad using an inorganic binder [43][44] - The company has established a new product team focused on solving complex customer challenges, leading to significant revenue opportunities [84][90] Conclusion - ITT is positioned for robust growth through a combination of organic expansion, strategic M&A, and a strong focus on operational excellence and innovation, aiming to achieve its ambitious 2030 targets while maintaining a competitive edge in the market [36][40][41]