与此同时，云计算业务收入为3,660万美元，同比增长44.9%。公司表示，云计算需求保持旺盛，特别是 在分布式存储及中小企业服务领域的客户数量持续增加，推动云业务稳步扩张。 在各项业务中，订阅服务收入达到4,070万美元，同比增长22.3%。公司表示，订阅用户增长稳定，付费 意愿提升，是推动这一板块持续扩大的关键因素。 此外，直播及其他服务收入实现4,910万美元，同比大幅增长127.1%。迅雷指出，该板块增长主要来自 内容生态的丰富、互动产品的提升，以及平台商业化效率的改善。 智通财经APP获悉，周四，迅雷(XNET.US)逆市上涨，截至发稿，该股涨超2%，报8.16美元。消息面 上，公司2025年第三季度经调整每ADS收益为0.09美元。财报显示，迅雷本季度营收达到1.264亿美元， 同比增长57.7%，展现出强劲的业务扩张势头。 对于2025年第四季度，迅雷预计总营收将在1.31亿至1.39亿美元之间。以区间中值计算，相较第三季度 将实现约6.8%的环比增长。公司强调，这一展望基于管理层当前的初步判断，未来可能因市场或运营 变化而有所调整，且变动幅度可能具有重要性。 ...

Core Points - The China Consumers Association reported a total of 536,761 consumer complaints in the third quarter of 2025, representing a year-on-year increase of 7.9% [1] - A total of 274,427 complaints were resolved, recovering economic losses of 236 million yuan for consumers [1] - The number of consumer visits and consultations reached 155,900 [1] Complaint Nature Analysis - After analyzing the nature of complaints, after-sales service issues were the most prominent, accounting for 29.4% of total complaints [2] - Compared to the third quarter of 2024, complaints regarding false advertising, safety, and contract issues increased, while complaints about after-sales service, quality, and measurement decreased [4] Complaint Classification by Issues - In the third quarter of 2025, complaints related to after-sales service totaled 157,786, representing 29.4% of total complaints, while contract-related complaints were 118,043 (21.99%) [5] - Quality complaints accounted for 101,001 (18.82%), and false advertising complaints were 41,739 (7.78%) [5] Product and Service Category Analysis - Product-related complaints totaled 283,263, making up 52.77% of total complaints, while service-related complaints were 231,542 (43.14%) [6] - The top five categories for product complaints included home electronics, daily goods, food, clothing, and transportation tools [6] - For service complaints, the leading categories were life and social services, internet services, education and training services, cultural and entertainment services, and sales services [6] Complaint Hotspots and Typical Cases - The rise of the trendy toy economy has led to significant complaints regarding product quality and after-sales service, particularly in blind box and figurine purchases [11] - Complaints about misleading advertising and safety issues in the weight loss product market have also surged, with many consumers reporting adverse health effects [15] - Pet consumption disputes have increased, with issues such as hidden health problems and misleading marketing practices being reported [19] - Complaints related to overseas travel services have highlighted shortcomings in information accuracy and service fulfillment by travel platforms [23] - The issue of automatic renewal services continues to rise, with complaints about hidden terms and lack of cancellation options [27] - Complaints regarding smart driving technology have emerged, focusing on performance limitations and lack of transparency in data sharing [31] - A significant increase in complaints about power banks has been noted, particularly concerning product recalls and safety concerns [37] - Insurance consumption complaints have risen, with issues related to misleading marketing and unauthorized automatic renewals being prevalent [38]

在这个几乎所有服务都能"一键开通"的时代，自动扣费成了许多人生活中的默认选项。无论是音乐会 员、视频网站、网盘空间，还是打车、共享单车、外卖平台，自动续费功能带来的便利毋庸置疑。它让 用户不用每月手动付款，也保证服务不中断。 然而，便利之下，也藏着不少隐性风险。 许多消费者在使用过程中发现，自动扣费常常"悄无声息"。有的人忘记取消会员，几个月后才发现账户 里被扣了多次；有的人以为只是试用一个月，结果试用期一过就自动续费；还有人明明已经取消订阅， 却仍被系统继续扣款。更麻烦的是，当用户尝试联系客服退款时，往往被要求提供截图、说明、交易 号，一番周折下来，问题仍然悬而未决。 若与企业协商无果，消费者可以选择向监管部门投诉。例如通过"12315"系统反映企业在收费和合同条 款方面存在问题。监管部门会核查企业是否存在未充分告知、诱导勾选、故意隐藏取消入口等行为。 一、自动续费的灰色地带 自动扣费的争议在于"知情权"。按理说，任何扣款都应在用户充分了解和同意的前提下进行。但在现实 中，部分应用将"自动续费"选项预设为默认勾选，或在字体极小的页面说明里埋藏取消入口。这让许多 用户在不知情的情况下被反复收费。 而对平台而言 ...

Core Viewpoint - The service consumption sectors, including education, cultural tourism, health, elderly care, and sports, are becoming crucial for driving domestic demand and stabilizing economic growth, necessitating strong financial support to address the financing needs of these sectors [1][2]. Group 1: Financial Support for Service Consumption - Service consumption is linked to both public welfare and economic transformation, serving as a key indicator of social development and quality of life [1]. - The operational entities in the service consumption sector typically exhibit characteristics such as "light assets, lack of collateral, and urgent financing needs," making traditional credit models inadequate to meet their financing demands [1][2]. - Financial institutions are encouraged to proactively direct credit resources towards the service consumption sector to resolve the mismatch between market potential and financial support [1]. Group 2: Innovation in Financial Products - Financial institutions should innovate credit products tailored to the specific needs of different sub-sectors, moving away from a "one-size-fits-all" approach [2]. - For light asset enterprises like knowledge-based services and online services, exploring credit loans based on intellectual property and order data as collateral is recommended [1][2]. Group 3: Technology Empowerment - Embracing financial technology, including big data, artificial intelligence, and cloud computing, can enhance service efficiency and risk management for service consumption enterprises [2]. - Technology can significantly improve financing efficiency and reduce costs for enterprises lacking traditional collateral [2]. Group 4: Service Model Optimization - Financial institutions should evolve from being mere "fund providers" to "comprehensive service providers," offering value-added services alongside credit support [2]. - Establishing deeper cooperative relationships with service consumption entities can create a mutually beneficial ecosystem [2]. Group 5: Case Study and Future Outlook - The example of Zhejiang demonstrates how local financial institutions can effectively stimulate new consumption vitality through innovative financial products and services [2]. - As policies are implemented, more financial institutions are expected to take concrete actions to direct financial resources towards the service consumption sector, contributing to the transformation and upgrading of consumption and promoting high-quality economic and social development [2].

Core Viewpoint - The recent trade agreements between Europe and the U.S. have not mitigated the damaging impacts of U.S. tariffs, leading to a significant increase in France's trade deficit and raising concerns about the competitiveness of French exports [1][2]. Trade Deficit and Economic Impact - In June, France's trade deficit expanded to approximately 7.7 billion euros, with imports rising by 400 million euros to 57.6 billion euros and exports increasing by 300 million euros to 49.9 billion euros [1]. - For the first half of 2025, France's cumulative trade deficit reached 43 billion euros, an increase of about 4.4 billion euros compared to the second half of 2024 [1]. - The trade deficit for the second quarter of 2025 was 22.9 billion euros, widening by approximately 2.8 billion euros from the first quarter [1]. Structural Issues in Trade Agreements - The framework agreement between the U.S. and Europe reveals significant structural differences, particularly regarding tariff exemptions, with the U.S. interpreting a 15% tariff as broadly applicable to European goods, while Europe seeks exemptions for key industries [2]. - French officials emphasize the need to advocate for exemptions beyond the aviation sector, including pharmaceuticals and food processing [2]. Agriculture and Food Sector Concerns - French agricultural products, including wine and cheese, are excluded from tariff exemptions, with potential additional tariffs of 800 million euros if wine and spirits do not receive exemptions [3]. - The U.S. demands simplification of health certifications for meat and dairy, which could impact food safety standards in France and Europe [3]. Digital Services and Technology - The U.S. claims that Europe has committed to exempting American companies from certain taxes, while Europe has only stated it will coordinate further [3]. - France views the digital services sector as a critical area for exerting pressure on the U.S. and aims to implement a digital tax on American tech giants [3]. Military and Energy Procurement - The U.S. has indicated that Europe will significantly purchase American military equipment by 2026, but European officials argue that military procurement was never formally on the agenda [4]. - France is pushing for exemptions in energy and pharmaceuticals to protect domestic jobs and industries, criticizing the reliance on U.S. fossil fuels [4]. France's Position and Strategy - France expresses dissatisfaction with compromises made in negotiations with the U.S. and vows to maintain its competitiveness through "strategic autonomy" [5]. - French officials argue that the U.S. tariffs will lead to a "lose-lose" situation, affecting both American consumers and exports [5]. - The French government aims to strengthen its position in trade negotiations by focusing on collective unity within the EU and addressing structural imbalances in service trade [6]. Future Coordination and Policy Recommendations - Experts suggest that France should enhance coordination in trade strategy, avoid unilateral actions, and utilize "anti-coercion tools" against U.S. threats [6]. - Policy recommendations include targeted subsidies, diversifying export markets, and increasing investments in innovation and green development to counteract U.S. tariff impacts [6].

Core Insights - The rental crisis in Australia is intensifying, leading potential renters to hire individuals to view properties on their behalf [1] - Demand for rental viewing tasks on the Airtasker platform surged by 166% year-on-year in June, indicating increased pressure on renters [1] - The CEO of Airtasker, Tim Fung, noted that the high demand for rentals makes it difficult for renters to secure housing quickly [1] Summary by Categories Rental Market Dynamics - The rental market is characterized by high demand, making it challenging for renters to find suitable housing [1] - Renters are employing various strategies, including hiring others to view properties, to increase their chances of securing a rental [1] Airtasker Platform Insights - Airtasker allows users to post tasks for property viewings, with prices ranging from 40 AUD to 200 AUD [1] - The platform's growth reflects the difficulties renters face in the current market, as they seek faster and more efficient ways to find housing [1][3] Expert Opinions - Leo Patterson Ross, CEO of Tenants Union of NSW, highlighted the dual impact of limited viewing opportunities and time constraints on potential renters [1] - He also pointed out the risks associated with hiring individuals for viewings, as the industry lacks regulation and oversight [3][6] - The effectiveness of hiring someone to view properties can vary, with some individuals potentially lacking the necessary expertise to provide valuable insights [5][6] Implications for Renters - The trend of hiring others for property viewings may exacerbate inequalities in the rental market, favoring those with more resources [6] - There is a concern that this practice could lead to increased pressure on renters, either through higher rental bids or the need to hire viewing assistance [6]

Core Viewpoint - The CEO of Fiverr, Micha Kaufman, emphasizes that 99% of AI companies are likely to be bubbles, as most do not provide significant value or innovation, and the market will eventually clear itself [27][29]. Group 1: AI's Impact on Employment - AI is perceived as a threat to various professions, with Kaufman stating that it will automate many tasks, leading to a need for individuals to enhance their skills or consider changing careers [7][11]. - The CEO encourages employees to aim for full automation of their current tasks, which would free up time for more strategic thinking and creativity [11][12]. - There is a growing concern about the fear and resistance to AI among employees, which Kaufman believes should be addressed through personal responsibility for self-improvement [12][13]. Group 2: The Future of Work - The current job market is compared to the dot-com bubble, with Kaufman suggesting that many young people are disillusioned with work, but those who seek meaning and purpose will continue to thrive [15][16]. - The importance of competition and the drive for resources is highlighted, indicating that individuals must adapt to the changing landscape to avoid becoming burdens [16]. Group 3: Market Dynamics and AI Bubble - Kaufman identifies a saturation of AI startups, predicting that many will fail due to oversupply and lack of differentiation [18][28]. - The concept of "cloning time" is introduced, where the speed of product replication has drastically decreased, making it harder for new entrants to establish a unique market position [18][19]. - The CEO stresses that true innovation and value creation are essential for survival in the AI space, as many current offerings lack differentiation [19][29]. Group 4: The Role of Founders - In a market where technology is democratized, the unique value of a startup increasingly relies on the capabilities and vision of its founders [24][25]. - Kaufman emphasizes the importance of strong leadership and the ability to navigate challenges, as successful companies often have resilient teams that can adapt and overcome obstacles [25]. Group 5: The Future of Content Creation - The discussion on copyright highlights concerns that AI-generated content may undermine the motivation for human creativity, as original creators may not receive recognition or compensation [31][34]. - Kaufman argues that the essence of creativity and the role of humans in content creation must be preserved, despite the rise of AI [34]. Group 6: The Evolution of Business Strategy - The CEO notes that the rapid pace of technological change makes it difficult to predict the future, contrasting it with the predictability of past technological advancements like Moore's Law [38]. - Companies must remain agile and responsive to market changes, focusing on speed and direction to maintain competitive advantage [44][46].

Group 1 - Fiverr's CEO Micha Kaufman emphasizes the need for individuals to adapt to the changing job landscape influenced by AI, suggesting that traditional roles may become obsolete and that workers should focus on automating their tasks to free up time for more complex thinking [2][11][5] - The company has successfully navigated various technological shifts since its founding in 2010, including the transition from PC to mobile internet and the rise of the gig economy [2][3] - Fiverr went public in 2019 with a valuation of $650 million, and its revenue surged to $189.5 million in 2020 due to the COVID-19 pandemic and the shift to remote work [3][2] Group 2 - Kaufman warns that 99% of AI startups are likely to fail within one to two years, with only a few companies that provide foundational infrastructure or solve specific problems surviving [4][30] - He stresses that true innovation should focus on identifying new problems rather than merely optimizing existing products [4][30] - Speed is identified as a critical competitive advantage in the rapidly evolving AI market, where being first to test and validate ideas can determine a company's survival [4][30] Group 3 - The conversation highlights a collective anxiety regarding AI's impact on employment, with Kaufman stating that individuals must continuously update their skills and knowledge to remain relevant [11][14][16] - He argues that the essence of human value lies in creativity, aesthetic judgment, and moral discernment, which machines cannot replicate [11][14] - The current AI landscape is compared to the dot-com bubble, suggesting that many companies are entering the market without offering substantial value, leading to an inevitable market correction [30][19] Group 4 - Kaufman believes that the rapid pace of AI development has made traditional predictive models obsolete, as the industry is now characterized by uncertainty and volatility [39][40] - He notes that the market is currently oversaturated with AI companies, and only a few will emerge as leaders, similar to the consolidation seen in the cloud services market [32][40] - The importance of human creativity and the unique contributions of individuals are emphasized, as technology alone cannot drive success without the right people behind it [26][27]

Core Viewpoint - The article discusses Ruoming Pang's transition from Apple to Meta, highlighting his contributions to Apple's foundational model and the development of AXLearn, a modular large model training system designed for heterogeneous infrastructure. Group 1: Ruoming Pang's Transition - Ruoming Pang, head of Apple's foundational model team, is moving to Meta's newly established superintelligence team, with a reported offer of $200 million [2][3]. - Despite the transition, Pang continues to contribute to Apple by promoting his research on AXLearn [3][4]. Group 2: AXLearn Overview - AXLearn is a production-grade system designed for large-scale deep learning model training, emphasizing scalability and high performance [6]. - The system features a modular design and comprehensive support for heterogeneous hardware infrastructure, allowing for efficient integration of functionalities like Rotary Position Embeddings (RoPE) with minimal code [6][8]. - A new method for measuring modularity, based on lines of code (LoC-complexity), is introduced, showing that AXLearn maintains constant complexity during system expansion, unlike other systems that exhibit linear or quadratic growth [7][23]. Group 3: Performance Evaluation - AXLearn's training performance is compared with systems like PyTorch FSDP, Megatron-LM, and MaxText across various hardware platforms, demonstrating competitive iteration times and throughput [26][29]. - The system shows near-linear scalability in weak-scaling experiments, indicating its robustness in handling increased workloads [30]. Group 4: Production Use and Impact - AXLearn has evolved from a tool for a few developers to a large platform supporting hundreds of developers in training models with billions to trillions of parameters [35]. - It can concurrently support over 10,000 experiments and is deployed across various heterogeneous hardware clusters, contributing to features used by billions of users [36][37].

Core Viewpoint - The legal opinion letter confirms that the 2024 annual general meeting of Shanghai Jinjiang Online Network Service Co., Ltd. was convened and conducted in accordance with relevant Chinese laws and regulations, as well as the company's articles of association [3][4][10]. Group 1: Meeting Procedures - The notice for the 2024 annual general meeting was published on June 5, 2025, in compliance with the regulations [6]. - The meeting will be held on June 27, 2025, at 1:30 PM at the Xinjingjiang Hotel in Shanghai, combining on-site and online voting methods [5][6]. - The notice was published 20 days prior to the meeting, meeting legal requirements [6][10]. Group 2: Voting Participation and Qualifications - A total of 7 shareholders (including proxies) participated in the on-site voting, representing 214,083,113 shares, which is 38.81% of the total voting shares [6][7]. - The combined results of on-site and online voting showed participation from 188 shareholders, representing 215,575,642 shares, or 39.08% of the total voting shares [6][10]. - The qualifications of the participating shareholders and proxies were verified and deemed valid [7][10]. Group 3: Voting Procedures and Results - The meeting adopted a combination of on-site and online voting to deliberate on various proposals, including a special resolution regarding amendments to the company's articles of association [8][10]. - Proposals 1 to 6 and 8 to 10 were passed by ordinary resolution, while proposals 11 and 12 were elected through cumulative voting [9][10]. - The special resolution (Proposal 7) was approved with more than two-thirds of the voting shares in favor [10]. Group 4: Conclusion - The legal opinion concludes that the meeting's convening, procedures, participant qualifications, and voting results are all in compliance with applicable laws and the company's articles of association [10].