Key Achievements in Expanding Domestic Demand - Project investment in Sichuan has grown at an average annual rate of 10.5%, with total investment in provincial key projects exceeding 4 trillion yuan [1] - The consumption market in Sichuan has experienced an average annual growth of 7.4% over the past four years, surpassing the national average by 2 percentage points, and the total consumption volume has ranked fifth nationwide [2] - A total of 367,000 units of various types of affordable housing have been constructed and secured in the province, with 420 million square meters of commercial housing sold [2] Investment Expansion - Since the beginning of the 14th Five-Year Plan, Sichuan has focused on expanding effective investment as a key strategy for stabilizing growth, with significant investments in major infrastructure projects and technology initiatives [1] Consumption Development - Sichuan has implemented a "policy + activities + scenarios" three-pronged approach to boost consumption, introducing key policies and hosting major events like the China (Sichuan) International Panda Consumption Festival [2] - The province has innovatively created 120 new consumption scenarios to drive consumption as a main engine for economic growth [2] Housing Support - Sichuan has established a multi-tiered housing security system combining government guarantees and market allocation, increasing the supply of affordable housing to meet residents' needs [2] - During the 14th Five-Year Plan period, Sichuan has built 367,000 units of affordable housing and sold 420 million square meters of commercial housing, promoting a stable and healthy real estate market [2]

Core Viewpoint - The founder and chief strategist of Bison Asset, Wang Guohui, expresses a strong bullish outlook on the Chinese capital market, attributing this to China's "MIT" advantages: Manufacturing, Innovation, and Talent [1][2] Group 1: Manufacturing - China has established a robust manufacturing ecosystem over the past thirty years, which includes not only factories and machinery but also a comprehensive infrastructure of ports, airports, roads, and power plants [1] - The application of artificial intelligence in manufacturing by Chinese companies is expected to enhance this advantage in the coming decades [1] Group 2: Innovation - Historically, many Chinese companies have been reluctant to invest in innovation, preferring to utilize existing technologies for quicker returns [1] - The presence of a significant number of Chinese engineers in top U.S. tech companies indicates a strong potential for innovation, with companies like DeepSeek making breakthroughs in large language models [1] Group 3: Talent - The talent pool in China includes proactive and creative entrepreneurs, engineers, and industrial workers, which is a key factor in the country's development [2] - Visits to innovative companies, such as a biotechnology firm in Chengdu, reinforce confidence in China's future, highlighting the importance of education and experience among founders [2]

10月14日，烟台市人民政府新闻办公室举行"回望十四五奋楫启新程"主题系列新闻发布会第二场。记者 从会上获悉，"十四五"期间，烟台通过加大科技投入、完善激励机制等举措，持续优化科技创新发展环 境。 科技创新离不开真金白银的投入。会上，烟台市科学技术局党组书记、局长李杰介绍，"十四五"期间， 投入市级财政资金23.85亿元，带动全社会研发投入总量达到257.4亿元，年均增长14.12%。发挥政府引 导基金作用，成立规模30亿元的科技创新(科新发展（600234）)母基金，支持联合社会资本投早、投 小、投长期、投硬科技。 齐鲁晚报.齐鲁壹点于洋 "十四五"期间，烟台共有127项成果获国家、省科学技术奖，"新一代绿色高效提炼贵金属技术""大型先 进压水堆非能动安全关键技术"等获国家科技进步奖二等奖，万华化学（600309）华卫琦获省科技进步 最高奖，海军航空大学王海鹏、滨州医学院田梗等获省科技进步青年奖，荣昌生物、泰和新材 （002254）、万华化学等单位获省特等奖，睿创微纳、山东核电等单位获得省奖一等奖22项。8微米非 制冷红外热成像模组、"东方航天港"号海上火箭发射船等四项成果入选省年度十大科技创新成果。 累计 ...

Core Points - The recruitment event "Zhihui Xiaoxiang, Cai Ju Hunan" took place at Peking University, featuring nearly 500 employers offering 14,700 job positions to attract graduates to Hunan [1][2] - This event is part of Hunan's 2025 talent recruitment initiative, which will also be held in seven other cities including Changsha, Shanghai, and Xi'an [1] Group 1: Job Characteristics - The job offerings are characterized by "high," "new," and "excellent" features, with a focus on high-level industry positions [2] - Over 150 manufacturing companies provided nearly 4,600 positions, accounting for more than 30% of the total, while 22 leading enterprises offered over 2,000 positions, making up over 15% [2] Group 2: New Industries and Roles - The recruitment event emphasized new industries and new roles, with 1,000 entrepreneurial positions from five incubation bases and over 3,200 positions from more than 120 tech companies [3] - Emerging roles included positions in AI, chips, and new materials, attracting significant interest from job seekers [3][4] Group 3: Quality of Positions - The event featured high-quality job opportunities from prestigious institutions such as "Four Major Laboratories," "985" universities, and provincial state-owned enterprises, with over 60 listed companies and leading enterprises present [3] - New positions like AI education model application researchers were introduced, with competitive salaries reaching up to 300,000 annually, excluding additional benefits [4][5] Group 4: Doctorate Recruitment - A "Doctorate Express" section was introduced, allowing PhD candidates to quickly find matching positions and conduct on-site interviews with universities [5] - This initiative aims to streamline the recruitment process for doctoral candidates, enhancing the efficiency of job matching [5]

Core Viewpoint - The importance of intellectual property (IP) protection for foreign enterprises in China is increasingly recognized, leading to proactive measures by local governments to enhance IP services and create a favorable business environment [6][12]. Group 1: Qingdao's IP Services - Qingdao has initiated a "health check" program focusing on IP risks for foreign enterprises, identifying potential risks and providing tailored strategies [7][10]. - The program has already assisted 12 foreign enterprises in conducting customized IP risk assessments since its launch in 2023 [11][12]. - The service team provided detailed reports and recommendations, including strategies for trademark registration and patent application [10][11]. Group 2: Chengdu's Rapid Patent Services - Chengdu has established a fast-track examination process for patent applications, significantly reducing the average authorization time for invention patents from 18 months to 65 days [13][16]. - The city has also implemented a mechanism to address IP-related issues, collecting 57 requests from enterprises and resolving 26 of them [16]. - Chengdu's efforts include enhancing IP financing support by integrating resources from various sectors to assist both domestic and foreign enterprises [15][16]. Group 3: Shanghai's Efficient IP Dispute Resolution - Shanghai has developed a high-efficiency administrative mediation process for IP disputes, with cases typically resolved within four months [17][18]. - The city has successfully handled 87 foreign-related patent infringement cases from 2020 to August 2025, with 98% of cases not leading to administrative litigation [19]. - The collaborative approach among different IP authorities has strengthened the protection network for foreign enterprises in Shanghai [19].

Liz Ann Sonders, the Chief Investment Strategist at Charles Schwab & Co. (NYSE:SCHW) highlighted certain unusual divergences in the small cap markets.Unprofitable Small-Caps Lead The RallyOn Thursday, in a post on X, Sonders broke down the composition of the Russell 2000 index and the performance of its constituents, highlighting that “57% of index is currently profitable,” while “41% of index is currently unprofitable,” and “2% of index doesn't currently have earnings data available.”She noted that the sto ...

Core Insights - The establishment of the Hangzhou Reception Hall by the Guangdong-Hong Kong-Macao Greater Bay Area Business Association marks a new phase of deep integration between Zhejiang and Hong Kong enterprises, aiming to enhance resource complementarity and collaborative innovation for high-quality regional economic development [1][5]. Group 1: Collaboration and Services - The Hangzhou Reception Hall will serve as the first physical service institution of the Association in Zhejiang, leveraging its extensive business network to provide one-stop services such as policy consultation, project matching, and resource integration, particularly in security services, technology research and development, and cultural education [5][9]. - Hongmin Technology Group's chairman promoted its subsidiaries, Zhejiang Hongmin Security Service Group and Zhejiang Hongmin Technology Group, which focus on smart security and advanced technologies like AI and IoT, respectively, aiming to expand into Southeast Asia and the Middle East [7][10]. Group 2: Investment and Development Plans - The Association plans to integrate Hong Kong's international financial, legal, and talent resources with Hongmin Group's capabilities in smart security and healthcare, with a joint investment of 500 million yuan over three years to develop an "Intelligent Security Cloud Platform" and a "Cross-Border Health Management Service Center" [10][12]. - The future service system will combine online and offline approaches, with a digital platform for real-time global resource matching and regular economic and trade exchange activities centered around the Reception Hall [12].

Core Viewpoint - The article discusses the performance of deep value fund managers during different market conditions, highlighting their underperformance in the current bull market compared to growth-style fund managers, particularly in sectors like technology and innovation [4][20]. Group 1: Performance Comparison - In the past three years of bear markets, deep value fund managers performed relatively well, with many managing over 10 billion in assets [5]. - As of September 24, 2023, mainstream deep value fund managers like Xu Yan and Jiang Cheng had annual returns below 20%, while the average return of the CSI Active Equity Fund Index reached 34.11% [6][12]. - The article notes that deep value fund managers typically focus on low-valuation, stable companies, which leads to lower returns in bull markets but better performance in bear markets [14][19]. Group 2: Investment Philosophy - Deep value fund managers invest from an owner's perspective, focusing on long-term intrinsic value rather than short-term market fluctuations [16]. - They emphasize "quality and price," seeking high-quality companies that are undervalued due to market sentiment [17]. - Safety margins are crucial in their investment decisions, as they aim to protect against errors and downside risks [17][18]. Group 3: Market Trends and Strategies - The current bull market has favored growth-style funds, particularly those heavily invested in technology, with some achieving over 200% annual returns [7]. - Deep value fund managers often hold significant positions in traditional sectors like finance and real estate, which have underperformed in the current market [14][19]. - The article suggests that deep value funds should be considered for core portfolio allocations, especially for conservative investors [23][24]. Group 4: Selection Criteria - Not all low-valuation stocks represent deep value; some may belong to contrarian or cyclical strategies [29]. - Investors should focus on the stability of deep value fund managers' styles, as many have shifted towards growth or other strategies over time [36][38]. - The article advises that deep value funds can serve as a bottom-layer allocation in a diversified portfolio, balancing risk and return [24][26].

Core Viewpoint - The company emphasizes its commitment to independent research and development, asserting that all core technologies are the result of its own R&D efforts and possess complete independent intellectual property rights [1] Summary by Categories Technology Development - As of June 30, 2025, the company has obtained a total of 373 various intellectual property rights, including 98 invention patents [1] Production - All products of the company are manufactured within China [1]

原文链接： 苹果再发论文：精准定位LLM幻觉，GPT-5、o3都办不到 点击下方 卡片 ，关注" 大模型之心Tech "公众号 戳我-> 领取大模型巨卷干货 本文只做学术分享，如有侵权，联系删文 ，自动驾驶课程学习与技术交流群事宜，也欢迎添加小助理微信AIDriver004做进一步咨询 苹果这几天真是进入了论文高产期，时不时就有新的研究发布出来。 就在近日，苹果又发布了一篇引发学界与业界关注的重磅论文。 这篇论文非常有意思，它用强化学习训练模型，让模型能够准确标出答案中哪些部分是幻觉（hallucinated）。 其核心突破在于：模型不再只是笼统地提示有错误，而是能直接指出具体哪一段文字是错误的。这对于需要修改输出或进行事实审查的用户来说，大大节省了时 间。 论文提出的方法名为 RL4HS，它使用了片段级奖励（span-level rewards）和类别感知的 GRPO（Class-Aware Group Relative Policy Optimization），从而避免模型偷 懒、只输出无错误预测。 该方法在片段级幻觉检测任务上，甚至超过了 GPT-5 和 o3。 总体而言，片段级奖励 + 类别平衡机制让 ...