Core Viewpoint - The outdoor brand Arc'teryx collaborated with artist Cai Guoqiang to launch a fireworks display in the Himalayas, which has sparked significant public criticism regarding its environmental impact and the brand's values [1][2] Group 1: Event Overview - The fireworks display, named "Ascending Dragon," featured colorful fireworks along the Himalayan ridge, symbolizing dragon culture and the spirit of "endless life" [1] - Following the release of the fireworks video on September 20, local authorities in Shigatse City established an investigation team to assess the situation and determine appropriate actions based on the findings [1] Group 2: Brand Response - Arc'teryx issued an apology on domestic social media, acknowledging that the project aimed to enhance awareness of local high-altitude culture but admitted to deviations in the execution [2] - The brand committed to cooperating with the artist's team and relevant government departments to review the environmental impact of the project, planning to engage a third-party environmental organization for a thorough assessment [2] - There was a notable discrepancy between the English and domestic versions of the brand's statements, with the English version expressing disappointment that the fireworks display contradicted the brand's values [2]

Core Viewpoint - The outdoor brand Arc'teryx faced significant backlash after an art fireworks event in the Himalayas, which contradicted its long-standing environmental ethos, leading to public outrage and calls for accountability [2][4][11]. Group 1: Event Overview - Arc'teryx collaborated with artist Cai Guoqiang for an art fireworks project named "Ascending Dragon" at an altitude of 5,500 meters in the Himalayas, intended to celebrate nature and Eastern dragon culture [2][4]. - The event sparked environmental controversies, with local authorities forming an investigation team to assess the situation following public outcry [4][14]. Group 2: Environmental Concerns - Despite claims of using biodegradable materials and adhering to environmental standards, experts questioned the applicability of these standards to the fragile high-altitude ecosystem [7][9]. - Concerns were raised about the potential long-term ecological damage, including the impact on local flora and fauna, and the effectiveness of the proposed mitigation measures [9][11]. Group 3: Public and Media Reaction - Major media outlets criticized the event, emphasizing the ecological harm caused by the fireworks display in a sensitive environment, and called for a reevaluation of the relationship between art and nature [11][14]. - The backlash led to Arc'teryx and Cai Guoqiang issuing apologies and offering to conduct third-party environmental assessments [14][18]. Group 4: Brand Strategy and Market Position - Arc'teryx has been transitioning from a professional outdoor brand to a high-end lifestyle brand, engaging in various artistic collaborations to expand its market reach [18][20]. - The brand's recent controversies reflect a broader trend in the outdoor industry, where many brands are struggling with the balance between high-end positioning and maintaining core user trust [27][29]. Group 5: Future Implications - The incident highlights the risks associated with prioritizing commercial interests over environmental values, suggesting a need for brands to realign their strategies with sustainable practices [31][33]. - The outdoor industry must navigate the challenges of high-end market positioning while respecting the core values of outdoor ethics and environmental stewardship [31][33].

Core Viewpoint - The incident involving Arc'teryx and the fireworks display in China highlights the challenges multinational companies face in balancing global and local management, particularly in terms of brand values and crisis response [1][2][3] Group 1: Company Response - Arc'teryx's Chinese team issued an apology emphasizing cooperation with relevant authorities and third-party assessments, while the overseas team expressed disappointment and indicated a need for improved communication with local teams [1][2] - The differing tones in the statements from the Chinese and overseas teams reflect a lack of cohesive governance in integrating global resources [2] Group 2: Environmental Concerns - The event raised significant ecological concerns, showcasing a misalignment with modern consumer expectations, particularly among younger generations who prioritize brand values and social responsibility over mere product functionality [2] - The choice of location for the fireworks display, an important ecological area in China, indicates a potential misjudgment of contemporary consumer values by the brand [2] Group 3: Brand Management Implications - A single misstep in brand activity can severely damage the high-end outdoor image of Arc'teryx and affect the reputation of its parent company, Amer Sports, highlighting the need for refined brand management and crisis response mechanisms [2][3] - The incident serves as a warning for all multinational companies about the complexities of cultural integration, management coordination, and value co-creation in global expansion [3] Group 4: Future Opportunities - Arc'teryx has the opportunity to learn from this incident and enhance its global brand management mechanisms, aiming to transition from being "internationally known" to "globally trusted" [3]

每经评论员 孙宇婷 环境保护议题在全球范围内，特别是中国市场的重要性日益凸显。现代消费者，尤其是年轻一代，对品 牌的期待已超越产品功能本身，他们更关注品牌价值观和社会责任。在这种背景下，一个户外品牌在中 国的重要生态屏障进行可能影响环境的艺术项目，本身就显示出对当代消费者价值观的误判。而这种误 判，根源在于品牌本地化团队与全球管理层的沟通隔阂，以及战略监管的缺失。 品牌价值的建立需要长期积累，而破坏可能只在一夕之间。一次不当的品牌活动，不仅会影响始祖鸟在 消费者心中的高端户外形象，也会波及其所属的整个品牌矩阵的声誉。这种"品牌涟漪效应"在多品牌运 营中尤为明显，需要更加精细化的品牌管理和危机应对机制。 从企业治理角度看，这次事件为所有通过跨国运营实现全球化扩张的企业敲响了警钟。国际化不仅仅是 市场拓展，更是文化整合、管理协同和价值共建的复杂过程。真正的"管得好"和"协同好"需要建立现代 化的全球企业治理结构，包括统一的品牌价值观、有效的跨文化沟通机制和敏捷的危机应对体系。 始祖鸟烟花事件最终会随着时间流逝而淡出公众视野，但它所暴露的跨国企业在全球化治理中的挑战却 值得长期关注。作为一家具有全球影响力的高端户外 ...

Core Viewpoint - The recent fireworks show by the outdoor brand Arc'teryx in the Himalayas has sparked controversy, highlighting the potential risks of marketing strategies that disregard ecological and ethical considerations [1][2] Group 1: Brand and Marketing Implications - The China Advertising Association criticized Arc'teryx for attempting to enhance brand visibility through creative marketing that could harm the fragile ecosystem at an altitude of over 5000 meters, leading to a loss of consumer trust [1] - The incident serves as a reminder that brand value is built over time but can be jeopardized by a single misstep that crosses ethical boundaries [1][2] - The association emphasized that marketing creativity must respect ecological, moral, and policy boundaries to avoid backlash and damage to brand reputation [2] Group 2: Industry Standards and Responsibilities - The China Advertising Association called for the advertising industry to adhere to ethical, ecological, and social value standards, reinforcing the need for self-regulation within the industry [2] - It was noted that marketing should not be an unbounded showcase but should be rooted in correct social guidance and positive values [2] - The association expressed hope that the advertising industry would learn from this incident, stressing the importance of respecting ecological protection and moral guidelines in marketing efforts [2]

Group 1 - The incident involving the outdoor brand Arc'teryx conducting a fireworks show in the Himalayas has sparked controversy, leading to public apologies from both the brand and artist Cai Guoqiang [1] - The Chinese Advertising Association expressed regret over the brand's actions, highlighting that marketing creativity should not disregard ecological, moral, and policy boundaries [2] - The event serves as a reminder that a brand's value can be significantly damaged by a single misstep, emphasizing the importance of respecting ecological and social responsibilities in marketing [1][2] Group 2 - The Chinese Advertising Association calls for the advertising industry to adhere to ethical, ecological, and social value standards, reinforcing the need for industry self-discipline [2] - It is emphasized that advertising creativity must be grounded in correct social guidance and should reflect positive values, as any marketing that crosses ecological or moral lines will lead to public backlash [2] - The association urges the industry to learn from this incident, advocating for creativity that respects nature and consumer trust, which is essential for sustainable brand and industry development [2]

Company Overview - Tsinghua Tongfang Co., Ltd. is located in Beijing and was established on January 11, 1999, with its listing date on October 30, 2009. The company operates in two main business segments: outdoor products and semiconductor business, which belong to the outdoor goods industry and semiconductor industry respectively [1] - The revenue composition of the company includes: outdoor clothing 63.31%, semiconductor business 17.13%, outdoor footwear 13.29%, outdoor equipment 3.71%, and other service businesses 2.56% [1] Financial Performance - As of June 30, the company reported a total of 6.53 billion yuan in revenue for the first half of 2025, representing a year-on-year decrease of 7.82%. The net profit attributable to shareholders was 20.09 million yuan, down 76.50% year-on-year [2] - The company has cumulatively distributed 5.09 billion yuan in dividends since its A-share listing, with a total of 30.42 million yuan distributed over the past three years [3] Stock Performance - On September 22, the company's stock price increased by 2.50%, reaching 9.43 yuan per share, with a trading volume of 172 million yuan and a turnover rate of 2.10%, resulting in a total market capitalization of 8.33 billion yuan [1] - Year-to-date, the company's stock price has risen by 34.73%, with a 2.39% increase over the last five trading days, a 3.40% increase over the last 20 days, and a 10.55% increase over the last 60 days [1] - The company has appeared on the "Dragon and Tiger List" once this year, with the most recent appearance on April 30, where it recorded a net purchase of 115 million yuan [1] Shareholder Information - As of June 30, the number of shareholders increased to 58,000, a rise of 31.04% compared to the previous period. The average number of circulating shares per shareholder decreased by 23.69% to 15,220 shares [2]

Group 1 - The core issue revolves around Arc'teryx's controversial fireworks show in the Himalayas, which has sparked criticism for potentially harming the fragile ecosystem in a high-altitude area [1][2] - The China Advertising Association emphasizes that brand value is built over time but can be jeopardized by a single misstep, highlighting the importance of respecting ecological, moral, and policy boundaries in marketing [1][2] - The incident serves as a reminder that marketing creativity must align with ecological and ethical considerations; failing to do so can lead to public backlash and damage to brand reputation [1][2] Group 2 - The China Advertising Association calls for the advertising industry to uphold ethical, ecological, and social value standards, reinforcing the need for industry self-regulation [2] - The association stresses that advertising creativity should not be limitless and must be grounded in correct social guidance and positive values [2] - The current emphasis on social responsibility as a core competitive advantage for brands means that any marketing actions that violate ecological or moral expectations will likely result in negative public sentiment [2]

Core Insights - A recent event involving an outdoor sports brand conducting a fireworks show in the fragile ecosystem of the Himalayas has backfired, damaging the brand's reputation and trust built over years [1] - The incident highlights the importance of respecting ecological, moral, and policy boundaries in marketing, as neglecting these can lead to significant brand value loss [1] Industry Summary - The China Advertising Association emphasizes the need for the advertising industry to adhere to ethical, ecological, and social value standards, reinforcing the concept of industry self-discipline [2] - Marketing creativity should be grounded in correct social guidance, humanistic values, and positive ideologies, as any marketing that crosses ecological boundaries or public moral expectations will likely provoke backlash [2] - The advertising industry is urged to learn from this incident, ensuring that creativity is bold yet remains within established limits, prioritizing ecological protection and moral standards [2] - The sustainability of brand marketing relies on respect and responsibility towards society, nature, and consumers, with a call for lawful, compliant, and ethical creative expressions to foster healthy industry development [2]

Core Viewpoint - The recent fireworks show in the Himalayas, intended as an artistic tribute to nature, has sparked significant public criticism due to potential environmental risks in a fragile ecosystem [1][4]. Group 1: Environmental Concerns - The fireworks were set off at an average altitude of over 4600 meters, where the ecosystem is particularly vulnerable to human interference, raising concerns about irreversible ecological damage [4]. - Despite claims that biodegradable materials were used and met international environmental standards, doubts remain about their suitability for the delicate Himalayan ecosystem [4]. - The event has prompted questions regarding its compliance with existing environmental protection laws, such as the "Ecological Protection Law of the Qinghai-Tibet Plateau" and regulations on fireworks in sensitive areas [5]. Group 2: Public Perception and Brand Responsibility - The project, branded as "Ascending Dragon," is criticized for being a commercial endeavor disguised as an artistic expression, failing to genuinely honor nature [7]. - Consumers are increasingly discerning about brands' social responsibility and authenticity, leading to negative perceptions of brands that engage in insincere marketing tactics [8]. - The backlash against the fireworks show reflects a broader trend where brands must align their marketing strategies with genuine ecological awareness to avoid public disapproval [8]. Group 3: Need for Greater Awareness and Education - The incident highlights a lack of understanding regarding the concept of "reverence for nature," indicating a need for improved education on how to coexist harmoniously with the environment [10]. - Questions arise about the adequacy of environmental assessments for large-scale projects in fragile ecosystems, emphasizing the need for stricter regulations and guidelines [10]. - The event serves as a reminder that humanity must adopt a more humble approach towards nature, recognizing that it is not the master of the environment but a part of it [11].