Core Viewpoint - The State Administration for Market Regulation (SAMR) announced the enforcement of intellectual property rights in 2024, highlighting significant cases of trademark infringement involving major brands such as "XGIMI," "LEGO," and "Huawei" [1]. Group 1: Enforcement Actions - A two-year special enforcement action plan titled "Guarding Intellectual Property Rights" was launched, with significant cases reported across nine provinces [1]. - The XGIMI trademark infringement case involved over 30 enterprises across nine provinces, with a total illegal business amounting to 128 million yuan [1][2]. - The Anhui Provincial Market Regulation Bureau reported a case involving 200 million yuan related to counterfeit clothing [1]. - A major trademark infringement case in Chongqing involved an amount as high as 300 million yuan [1]. Group 2: Specific Cases - The case against Jiangxi Caiying Technology Co., Ltd. for infringing on the "XGIMI" trademark involved extensive collaboration among regulatory bodies from multiple provinces [2][3]. - The Beijing Market Regulation Bureau addressed a case involving Beijing Youyou Education Consulting Co., Ltd. for infringing on the "LEGO" trademark [4]. - The Hebei Province's Xingtai City Market Regulation Bureau dealt with a case of infringement on the "Huawei" trademark [5]. - The Shanghai Market Regulation Bureau investigated Shanghai Jixu Food Co., Ltd. and others for infringing on the "Liuhe" trademark [5]. - The Zhejiang Province's Wenzhou City Market Regulation Bureau handled a case involving Wenzhou Zunxiang Technology Co., Ltd. for selling goods infringing on trademark rights [5]. - The Hubei Province's Xiangyang City Market Regulation Bureau addressed a case involving a gang producing and selling trademark-infringing "special supply liquor" [7]. - The Guangdong Province's Jieyang City Market Regulation Bureau investigated Wang Mouyi for producing counterfeit watches bearing "ROLEX," "RADO," and "FOSSIL" trademarks [8]. - The Chongqing Province's Youyang Tujia and Miao Autonomous County Market Regulation Bureau, in collaboration with the police, dealt with a case involving sales of goods infringing on "LV" trademarks [9]. - The Sichuan Province's Luzhou City Market Regulation Bureau addressed a case involving Luzhou Brothers Decoration Engineering Co., Ltd. for infringing on the "Brothers Decoration" trademark [10].

Macro and Strategy - The macroeconomic weekly report indicates that the high-frequency indicators have improved on a month-on-month basis, with a rise in real estate sentiment [10][12] - The high-tech manufacturing macro report shows that the diffusion index remains stable, with certain sectors like pharmaceuticals and semiconductors experiencing increased activity [10][11] Industry and Company - The real estate sector shows narrow fluctuations in sales data, with a cumulative transaction area of new residential properties in 30 cities increasing by 2% year-on-year [28][29] - The agricultural sector reports increased supply pressure for eggs, while beef prices remain strong despite the off-season [30] - The pharmaceutical industry is highlighted for its strong performance at the ASCO annual meeting, with several domestic innovative drugs selected for oral presentations [3] - The financial sector, particularly securities firms, is focusing on fixed income as a base while enhancing equity investments, with a reported revenue of 362.39 billion yuan for 2024, up 7.7% year-on-year [24][25] Market Trends - The U.S. stock market has seen a significant rebound, with the S&P 500 rising by 4.6% and the Nasdaq by 6.7%, driven by technology giants [19][20] - The Hong Kong market has also shown resilience, with the Hang Seng Index increasing by 2.7%, supported by strong performances in the pharmaceutical and electronics sectors [22] Investment Strategies - The report discusses the potential of a free cash flow strategy in the Hong Kong market, indicating that it has shown significant effectiveness and can yield excess returns [17][18] - The real estate investment strategy suggests that upcoming policies aimed at stabilizing the market will provide opportunities for investment in specific companies [30]

经济观察报 记者 郑晨烨 尽管极米科技（688696.SH）已连续六年在中国智能投影市场占据头把交椅，但行业的整体增速放缓已 是不争的事实。 当家用市场的存量竞争日益激烈，寻找"第二增长曲线"成为摆在所有玩家面前的共同课题。与此同时， 研发投入的持续加码与短期利润的波动，也考验着这家科创板上市公司的战略定力。 从早年以"无屏电视"概念切入市场，到如今面临AI、空间计算等新技术对产品形态的重塑可能，智能投 影的核心竞争力应如何定义？在LED、混光、三色激光等多元光源路线中，未来将走向何方？面对全球 化浪潮中的文化差异与地缘政治风险，出海之路又该如何布局？另外，极米在车载投影领域已斩获8个 定点项目，这是否预示着一个足以"再造一个极米"的新赛道正在开启？ 带着这些问题，近日，经济观察报记者与极米科技创始人兼董事长钟波展开了深度对话，探讨智能投影 行业的未来机遇、极米的战略抉择以及硬科技企业的生存法则。 |对话| 车载业务能否"再造一个极米"？ 经济观察报：极米连续6年蝉联中国市场第一，但我们看到投影行业整体增速似乎正在放缓。你认为智 能投影行业的"第二增长曲线"将来自哪些场景或技术突破？ 钟波：这里要澄清一个概念 ...

前十大流通股东累计持有： 3395.66万股，累计占流通股比： 48.51%，较上期变化： 80.02万股。 | 名称 持有数量(万股) | | 占总股本比例(%) | 增减情况(万股) | | --- | --- | --- | --- | | 钟波 | 1315.36 | 18.79 | 不变 | | 北京百度网讯科技有限公司 | 352.71 | 5.04 | 不变 | | 极米科技股份有限公司-2024年员工持股计划 | 343.00 | 4.90 | 不变 | | 肖适 | 305.85 | 4.37 | 不变 | | 钟超 | 237.88 | 3.40 | 不变 | | 香港中央结算有限公司 | 231.07 | 3.30 | 新进 | | 四川文化产业股权投资基金合伙企业(有限合伙) | 179.05 | 2.56 | 不变 | | 成都极米企业管理咨询合伙企业(有限合伙) | 174.15 | 2.49 | 不变 | | 刘帅 | 146.59 | 2.09 | 不变 | | 芒果传媒有限公司 | 110.00 | 1.57 | 不变 | | 较上个报告期退出前十大股东有 | | | | | ...

Group 1 - The shareholder inquiry transfer price is set at 111.06 yuan per share [1] - A total of 1.75 million shares will be transferred [1] - After the transfer, Beijing Baidu Wangxin Technology Co., Ltd. and its concerted parties will hold 3.17 million shares, reducing their stake in the company to 4.53% of the total share capital [1] Group 2 - Institutional investors such as Morgan Stanley International and UBS AG are participating in the share acquisition [1]