7月初，Meta开出2亿美金"天价"年薪，挖角苹果AI基础模型团队负责人庞若鸣。关于庞若鸣和苹果AI团队的讨论甚嚣尘上：为何Meta愿开高薪挖角一 个"并没有出成果"的团队负责人？ 苹果AI做了两年，成果到底如何？ 《职场Bonus》独家获悉，庞若鸣负责的苹果AI AFM团队一直在做大模型的研发工作，同时也取得了不错的成果，但因苹果内部较为封闭的生态：研发 团队的成果必须要等产品上线后才能发布，成果始终无法公开。 没有人比庞若鸣更惋惜现在的苹果AI。 2021年，庞若鸣加入苹果AI，负责自研模型团队。从2023年Apple Intelligence在内部诞生，到2025年，大模型飞速发展了2年，苹果却没跟上时代的节奏， AI成果频被外界诟病。 7月12日，社交媒体爆出庞若鸣在离职前，向苹果负责软件的SWE部门争取，公开自己AFM团队研发成果的机会，却遭到拒绝。 在迅速变化的AI时代，苹果的AI战略显得保守：2023年以来，WWDC大会上承诺的AI功能频频食言，AI功能虽已融入系统，但却缺乏创新。关于AI的决 策上，苹果已然失去了大众期待的创新和活力。 36氪「职场Bonus」（ID：ZhiChangHongL ...

Group 1: Digital Transformation in Consumer Finance - The implementation of the "High-Quality Development Implementation Plan for Inclusive Finance" aims to establish a comprehensive inclusive financial system within five years, promoting common prosperity [1] - Financial institutions are focusing on technology finance, green finance, and digital finance to enhance service quality and support economic development [1] - Companies like Ma Shang Consumer Finance have built a research team of over 3,200 people, representing more than 70% of their workforce, and developed over 1,000 core technology systems [2][3] Group 2: AI and Technology Integration - Haier Consumer Finance has invested 2 billion yuan in technology research and development, with over 70% of its workforce dedicated to technology [3] - The introduction of AI-driven models, such as "Zhaolian Zhilu," enhances financial service efficiency and user experience [2] - Companies are transitioning from labor-intensive to intelligence-intensive models, fundamentally changing the logic of financial services [3] Group 3: Risk Management and Innovation - Centralized risk management models combining data, algorithms, and strategies are being established to enhance risk identification and fraud prevention [5] - Companies are actively applying for patents and developing software to support their technological innovations, with a total of 146 patents filed by one company [4] - The focus on digital transformation is aimed at optimizing business processes and improving service experiences in a competitive market [5] Group 4: Inclusive Finance and Consumer Services - Licensed consumer finance institutions are designing differentiated products to lower service thresholds and enhance accessibility [6] - Companies like Zhongyuan Consumer Finance have served over 3 million new citizens, providing loans exceeding 4.7 billion yuan [6] - Ma Shang Consumer Finance targets new citizens and students, offering flexible small retail financial products and achieving over 2 billion users by the end of 2024 [7] Group 5: Green and Elderly Finance - Consumer finance institutions are integrating green finance initiatives to support sustainable development and promote green consumption [8] - Innovations in elderly finance include identity verification systems and financial literacy programs to protect older adults from fraud [9] - Companies are leveraging technology to enhance financial services for rural populations, improving access to credit [10]

【环球网科技报道 记者 张阳】2025年7月16日，第三届中国国际供应链促进博览会（以下简称"链博会"）在北京拉开帷幕。据悉，本届链博会展览面积超过 12万平方米，全球知名参展企业和机构650余家，涉及75个国家、地区和国际组织。其中，境外参展商占比达到35%，世界500强企业占比达到60%。 会上，苹果公司携手其三家核心中国供应商——欣旺达、山东创新和杰士德，共同展示了在智能制造、环境保护及员工发展领域的最新成果，彰显了苹果公 司与中国供应链企业深度合作、共创未来的坚定决心。 数据显示，苹果全球主要的200家供应商中，超过80%在中国设有工厂，承担着iPhone、iPad、Mac、AirPods、Apple Watch及Apple Vision Pro等尖端产品的 生产任务。过去5年多来，苹果在华智能制造和绿色制造领域的投资已高达200亿美元，为产业链升级注入强劲动力。 本次展会上，苹果公司及其供应商展示了多项智能制造领域的突破性技术。欣旺达带来的磁悬浮输送产线，以其高速、精准、无接触的运行特点，显著提升 了生产效率和产品质量，同时实现了核心技术的国产化和自主可控。此外，欣旺达的锂电池数字孪生工厂融合了AI ...

长江电力 甲国修电 中观时代 (发家) 2349.80亿市值 1923.11亿市值 7379.61亿市值 14.73亿成交额 18.55亿成交额 5.78亿成交额 9.35 15.17 30.16 -0.18(-0.59%) -0.22(-1.43%) +0.02(+0.21%) 证券 电池 中信证券 国泰海通 宁德时代 CATL 4186.80亿市值 3402.53亿市值 12104.97亿市值 18.02亿成交额 11.33亿成交额 38.53亿成交额 28.25 19.30 265.50 +0.05(+0.26%) +0.17(+0.61%) +1.10(+0.42%) 消费电子 互联网服务 工业富联 立讯精密 东方财富 Fil 5461.35亿市值 2857.29亿市值 3729.75亿市值 42.73亿成交额 65.63亿成交额 66.17亿成交额 27.50 39.40 23.60 +0.77(+2.88%) +2.35(+6.34%) +0.18(+0.77%) 家电行业 食品饮料 海天味业 格力电器 海尔智家 2249.43亿市值 2664.03亿市值 2421.73亿市值 10.77亿成交额 ...

纳斯达克独家编制的 "IPO Pulse Index" 近期持续攀升，反映市场回报率提高、估值改善等利好因素。该指数与未来 6 个月 IPO 活动高度相关，Jeff Thomas 表示："当前交表待上市公司资源储备充足，预计下半年 IPO 市场持续活跃。 重要声明：本文信息均来源于公开资料，本公司对上述信息的来源、准确性及完整性不作任何保证。在任何情况下，本文中的信息仅供参考。 版权声明：所有绿专资本原创文章，转载须联系授权，并在文内首/文末注明来源及微信ID，否则将追究法律责。 新股中的 83 家为实体运营公司，59 家为 SPAC (特殊目的收购公司)。 除 IPO 外，上半年 11 家公司从纽交所转板至纳斯达克，总估值达 2710 亿美元。转板公司包括电商平台 Shopify (SHOP)，以及消费品巨头金佰利 (Kimberly- Clark) (KMB)，2 家公司分别于 2015 年 5 月 21 日、1929 年 5 月 9 日在纽交所上市。纳斯达克执行副总裁、首席营收官兼全球上市主管杰夫•托马斯(Jeff Thomas)指出："这些企业转板后市值普遍显著增长，印证了纳斯达克的赋能效应。" 今年 ...

相关机构表示，三星公开智能眼镜专利，看好端侧投资机会。三星近期公开的一项专利 （US20250208441A1）提出了一种集成柔性与刚性结构的智能眼镜音频方案。其核心设计思路是：通过 分区设计的框架和密封结构，在保证设备可随用户身体轮廓变形的同时，维持扬声器声学腔体的稳定 性，从而兼顾舒适度与音质。我们认为，产业链不断创新促进智能眼镜不断发展，有望带动智能眼镜销 量提升，看好端侧投资机会。 注：如提及个股仅供参考，不代表投资建议。指数/基金短期涨跌幅及历史表现仅供分析参考，不预示 未来表现。市场观点随市场环境变化而变动，不构成任何投资建议或承诺。文中提及指数仅供参考，不 构成任何投资建议，也不构成对基金业绩的预测和保证。如需购买相关基金产品，请选择与风险等级相 匹配的产品。基金有风险，投资需谨慎。 消电ETF（代码：561310）跟踪的是消费电子指数（代码：931494），该指数由中证指数有限公司编 制，从A股市场中选取涉及智能手机、家电、可穿戴设备等消费电子产品相关业务的上市公司证券作为 指数样本，以反映消费电子行业龙头企业证券的整体表现。该指数聚焦消费电子领域的核心产业链，涵 盖硬件制造、终端产品及配套服 ...

港股晨报 2025 年 7 月 17 日 国证国际证券（香港）有限公司 • 研究部 1. 国证视点：美联储独立性受挑战，美债息率或有上升压 力 港股通交易保持净流入状态，但金额持续减少。北水昨日净流入 16.03 亿港元， 较上日少 58.1%。北水净买入最多的个股依次是美团 3690.HK、建行 939.HK、 康方生物 9926.HK；净卖出最多的依次是腾讯 700.HK、小米 1810.HK、金山 云 3896.HK。 板块表现方面，12 个恒生综合行业指数中，7 个上升 8 个下跌。4 个上升的板 块为医疗保健、电讯、必需性消费及综合企业，涨幅为 0.83%-0.05%；下跌的 板块中，地产建筑、资讯科技、金融、能源及可选消费领跌，跌幅为 1.13%- 0.29%，超过恒生综指的 0.28%跌幅。 美股昨晚回升，美国上月生产物价指数增幅低过预期，市场对通胀忧虑略为缓 和。美股三项主要指数均高开，但其后有报道指，美国总统特朗普将解雇美联 储主席鲍威尔，大市一度倒跌，特朗普否认报道后，大市由低位反弹。道指、 标指及纳指均收涨，升幅分别为 0.53%、0.32%及 0.25%。 我们认为，特朗普正在试探市场 ...

Core Viewpoint - The article discusses the rise of Insta360, a leading company in the panoramic camera market, highlighting its innovative strategies and market positioning in the context of increasing demand for personalized photography and video content [4][10][11]. Group 1: Company Overview - Insta360, founded in 2015, has become the global leader in the panoramic camera sector and successfully listed on the Sci-Tech Innovation Board in May 2021 [4][5]. - The founder, Liu Jingkang, is noted as the first post-90s entrepreneur to lead a company to this achievement, drawing significant market attention [5][6]. Group 2: Market Demand and Innovation - The demand for panoramic cameras has surged due to the democratization of photography and the rise of user-generated content platforms like Douyin [10][11]. - Insta360 identified and addressed the shortcomings of earlier panoramic cameras, such as Ricoh's THETA and Samsung's Gear 360, by offering a more user-friendly experience with its first product, Insta360 Nano, which allowed for real-time preview and reduced waiting times for video processing [22][27]. Group 3: Competitive Strategy - Insta360's strategy involved incremental innovation by combining panoramic photography with action camera features, targeting new user scenarios that competitors like GoPro had not fully explored [36][40]. - The launch of Insta360 ONE in 2017 marked a significant step, as it offered 4K panoramic video capabilities at a lower price point than GoPro's offerings [41]. Group 4: Technological Edge - Insta360 has maintained a competitive advantage through its commitment to full-stack self-research in both hardware and software, allowing for seamless integration of image capture, stitching algorithms, and editing experiences [48][50]. - The collaboration with Adobe for editing software has further enhanced user experience, making video editing accessible and efficient for average users [50][51]. Group 5: Company Culture and Future Vision - The company emphasizes the importance of continuous product development and employee growth, aiming to create a culture that fosters innovation and responsiveness to market needs [56][60]. - Liu Jingkang's approach to leadership focuses on empowering teams to explore and learn from their experiences, which is seen as essential for developing the next world-class product [66].

Core Viewpoint - In the first half of the year, new consumption, biomedicine, and banking were key sectors for southbound capital investment, but there has been a noticeable outflow from these sectors in recent weeks [1][4]. Group 1: Market Trends - Long-term foreign capital and hedge funds have recently shifted to a slight net outflow from Hong Kong and A-shares, despite a generally optimistic outlook for the Chinese stock market this year [2]. - The overall market trading strategy is leaning towards a "barbell" approach, favoring dividend-yielding assets and resource-related stocks as conservative investments, while also focusing on growth themes like innovative drugs, technology, and new consumption [2][11]. - The banking sector has seen a significant shift to net outflows, with previous weeks showing it among the top three sectors for net inflows [5][6]. Group 2: Sector Analysis - The banking sector has been under pressure, with a lack of fundamental growth support, leading to concerns about the sustainability of its recent performance [6][12]. - New consumption stocks, such as Pop Mart and Lao Pu Gold, experienced a surge in valuations exceeding 100 times, but have recently entered a correction phase [7][8]. - Despite high expectations for Pop Mart's revenue and profit growth, the stock has faced a decline, raising concerns about the sustainability of its growth narrative [8][9]. Group 3: Investment Opportunities - Potential opportunities for the second half of the year are identified in two main areas: Hang Seng Technology and high-quality companies in the traditional economy, which are currently undervalued [11][12]. - The Hang Seng Technology sector is expected to rebound as price competition subsides, and companies within this sector may present good opportunities for growth [11]. - Traditional consumer companies with strong fundamentals are also seen as having significant upside potential if they can deliver solid mid-year results [12]. Group 4: Foreign Investment Sentiment - Overall, international investment banks and asset management institutions remain relatively optimistic about investment opportunities in the Chinese market for the second half of the year [14][15]. - Foreign capital is still underweight in China, indicating potential for increased allocation as market conditions improve [15][16]. - The active IPO market in Hong Kong, with 51 companies raising a total of 124 billion HKD so far this year, is seen as a positive indicator for market sentiment and liquidity [15][17].

点击关注【张瑜旬度纪要系列】 ① 【大势研判·张瑜】供给侧 3.0 的理解脉络与异同 各位投资朋友好。本次旬度我们探讨对供给侧改革 3.0 的理解。回顾历史，供给侧改革经历了 90 年代的 1.0 版本、 2015 年的 2.0 版本，当前正处 于 3.0 阶段，我们将系统汇报对本轮改革的理解。在大势研判部分，我将回顾本轮供改的顶层设计、对比本次供改与 2015 年的差异，并推演后续 的三阶段特征；其次，我们将回顾 1998 、 2015 年两轮供给侧改革的经验，同时结合当前 3.0 版本，从行业层面度量供改的压力。 一、顶层设计：扩内需与供改有机结合 首先，从顶层设计来看，我们想要提示政策的一个核心部署。 自 " 十四五 " 规划以来，经济领域的一个重要部署是 " 把实施扩大内需战略同深化 供给侧结构性改革有机结合起来 " ，这是高质量发展中工作方法的核心。最近几年我们陆续看到了相关顶层架构，例如《习近平经济思想学习纲 要》、党的二十大报告，以及刘鹤同志在人民日报刊发的《把实施扩大内需战略同深化供给侧结构性改革有机结合起来》等文章，均对这一部署 进行了深入阐述。 2014-2015 年供给侧改革后，市场对供 ...