此次市场监管总局部署的专项工作，直击相关虚假宣传的新特点和新手段，构建了更为全面有力的一体 化监管框架。从政府管理到全民参与，工作创新开展的"你拍我查"活动，为人民群众发现问题、举报问 题打通渠道，将社会各方转化为基层监督网络的关键节点，有效化解了违法线索发现难、取证难的问 题。而针对当下盛行的以健康讲座、养生节目等"软文"形式变相发布广告的隐蔽手法，专项整治除了关 注向老年人推销、售卖产品的行为外，还强调要严格落实广告审查制度、牢牢守住食品安全底线，为打 击更具迷惑性的变相营销、守护民众身心健康提供了明确的保障。 市场监管总局近日在全国范围内部署开展老年人药品、保健品虚假宣传专项整治工作，直指假借专家义 诊、健康咨询之名行欺诈之实等"坑老""骗老"痼疾。此次治理行动场景化锁定各类论坛、康养旅游和老 年大学等虚假宣传高发地，以广告监管、食品安全监管等举措全流程维护老年人合法权益，还以"你拍 我查"活动开创了全民共治新局。 在我国人口老龄化程度持续加深的今天，这场关乎3.1亿60岁及以上老年人获得感、幸福感、安全感的 治理行动，既是对市场竞争环境的优化，也是对社会诚信基石的淬炼。 专项整治的及时性，源于药品、保 ...

Core Viewpoint - The article highlights the issues surrounding the marketing and sale of overseas dietary supplements in China, particularly through private domain shopping platforms like VTN, which are often associated with misleading claims and lack of regulatory oversight [2][22][27]. Group 1: Company Overview - VTN and ABM are subsidiaries of ACCESS Group, which focuses on health and beauty products through a network of global brands and social media marketing [7]. - VTN operates as an international brand membership club for consumers, while ABM serves as a platform for light entrepreneurship, allowing individuals to become distributors without holding inventory [7][21]. Group 2: Marketing Practices - The marketing strategies employed by VTN include exaggerated claims about product efficacy, such as improving immunity and treating chronic diseases, often presented in a misleading manner [4][8]. - Distributors utilize a combination of educational content and product promotion to appeal to consumer pain points, often using social media and live streaming to reach potential buyers [8][10]. Group 3: Regulatory Issues - There are significant regulatory gaps in the oversight of cross-border e-commerce, particularly regarding the promotion of dietary supplements that are not registered or approved in China [2][22][27]. - The lack of Chinese labels on many products sold through VTN raises concerns about transparency and consumer understanding of the ingredients and potential health risks [4][22]. Group 4: Consumer Experience - Consumers face challenges in returning products purchased through VTN, as many items do not support a seven-day return policy, complicating the process of addressing quality concerns [25][26]. - Complaints regarding product quality and after-sales service have been reported, indicating a need for improved consumer protection measures in the cross-border e-commerce sector [25][26].

在追求抗衰的道路上，我们不得不面对一个残酷的事实：人体各器官的衰老时间，往往比预想要早得 多。现代医学研究发现，肺部在20岁后肺活量便开始下降，皮肤在25岁时悄然踏上衰老之路，心脏在40 岁后血管弹性逐渐衰退，肾脏在50岁后滤过率显著降低，肠道在55岁后菌群失衡……这些生理变化揭示 了人体衰老的"时间表"。虽然衰老是自然规律、无法完全避免，但是我们可以通过科学手段来延缓身体 衰老的进程。 作为中国天然虾青素产业和产品的领军者，绿A生物凭借20多年的专业研发与积累，创新推出了新一代 抗衰产品——绿A冻龄虾青素。这款专为现代人量身定制的高效抗衰单品，以天然雨生红球藻萃取的虾 青素为核心，复配胶原蛋白肽与γ - 氨基丁酸(GABA)两大黄金成分，构建起三维抗衰矩阵。其中，天然 虾青素直击氧化损伤根源，延缓机体衰老；胶原蛋白肽为肌肤注入弹润能量；GABA则舒缓压力，由内 而外唤醒肌肤活力。自上市以来，这款融合自然精粹与科技力量的国货精品，迅速成为万千消费者追捧 的网红产品。 天然虾青素的抗氧化能力堪称一绝，它相当于维生素E的1000倍，是维生素C的6000倍，无疑是自然界 细胞抗氧的"最强王者"！虾青素通过结合并还原 ...

Core Viewpoint - Company *ST Lvkang plans to sell its photovoltaic film business assets and liabilities to a newly established entity, Jiangxi Raoxin New Energy Materials Co., Ltd, with a registered capital of RMB 100 million [2][3] Group 1: Transaction Details - The transaction involves the sale of assets and liabilities related to the photovoltaic film business, and after completion, the related subsidiaries will no longer be included in the company's consolidated financial statements [3] - The major shareholder of Jiangxi Raoxin is Shanghai Kangyi Investment Co., Ltd, holding 58.63% of the shares, while other significant shareholders include Hangzhou Yirui Investment Partnership and Hangzhou Haoying Investment Partnership, each holding 16.55% [3] - The transaction will be conducted in cash and will not affect the company's shareholding structure [3] Group 2: Financial Overview - In 2024, the revenue from the photovoltaic film business is projected to be RMB 231 million, representing a year-on-year increase of 60.89%, accounting for 35.62% of total revenue [5] - The gross profit margin for the photovoltaic film business in 2024 is expected to be -38.63, contributing to increased losses for the company [5] - From 2021 to 2024, the company's revenue figures were RMB 363 million, RMB 330 million, RMB 507 million, and RMB 649 million, with net losses totaling RMB 815 million over the four years [5]

嘉必优 20250528 摘要 嘉必优国内市场受益于新国标切换完成及人口因素，核心大客户对藻油 DHA 需求增加，推动收入持续增长，尤其 DHA 产品增速显著，主要由 于核心客户在奶粉中增加藻油 DHA 比例。 国际市场方面，嘉必优重点拓展海外大客户，通过欧洲经销商扩大市场 份额，主推 ARA 产品，同时推广藻油 DHA 和 HMO，预计 HMO 将在国 外率先实现商业化订单落地，全年保持稳定增长。 2025 年第一季度嘉必优利润增速超过营收增速，主要得益于产品结构 和客户结构优化，高毛利客户取货量增加及藻油 DHA 产品占比提升，全 年盈利能力预期保持相对稳定。 国内客户结构中，伊利和完达山等客户取货量显著增长，成为 2025 年 增量主力，飞鹤、伊利和贝因美等客户的供应比例已超过一半，市场份 额仍有提升空间。 ARA 和 DHA 在下游产品中添加比例差异大，高端奶粉添加量更高，下 游客户向高端化、差异化产品布局，并通过延长奶粉喂养时间增加销售， 为嘉必优提供新的发展机会。 Q&A 嘉必优在 2025 年第一季度表现出显著的增长趋势，能否介绍一下第二季度的 运行情况以及全年展望？ 从 2025 年第一季度开 ...

1、 《2025年全球黄金消费洞察 》 摘 要 ■ 2024年全球黄金消费同比增长1.4%，虽然整体增速温和，但结构性变化显著——亚太地区需求增 长尤为突出，反映出新兴市场居民财富积累及资产配置意识提升。 ■ 在全球经济增长不确定性加剧、通胀压力不减的背景下，黄金的避险属性被广泛认同，央行增持和 个人投资同步加码，进一步推高了投资需求。 ■ 尤其是在美元资产风险上升、全球货币体系去美元化趋势增强的背景下，黄金已不仅是传统意义上 的保值资产，更逐步被视为一种"全球储备资产替代品"，其战略配置意义持续上升。 ■ 黄金市场的供给面保持稳定，2024年全球黄金储采比达19.4年，说明矿产资源依然充足，不存在近 中期枯竭风险。 ■ 全年矿产金产量为3,661吨，年增2%，但价格与产量之间的相关性较低，表明供给端对市场价格的 影响相对温和。 ■ 金价上涨空间虽存在，但短期内仍需关注美联储政策变化、地缘风险及工业用金需求的不确定性， 特别是若特朗普重新执政，其贸易政策可能对制造业链条形成压制，从而间接影响工业金的边际需 求。 ■ 投资者应结合自身风险偏好，灵活配置黄金ETF、期货等衍生品以把握波段机会，同时长期可关注 优质 ...

Group 1 - The core viewpoint of the articles is that the Chinese National Market Supervision Administration is launching a special campaign to combat false advertising of drugs and health products targeting the elderly, addressing the issue of "scamming the elderly" in the market [1][2] - The campaign will focus on the increasing prevalence of online marketing tactics, such as live streaming and social media, which are being used to mislead elderly consumers through promises of free trials and exaggerated health claims [1] - Specific tasks outlined in the campaign include cracking down on misleading promotions disguised as expert consultations and health advice, as well as the sale of pseudo-high-tech products and health supplements [1] Group 2 - The campaign will enhance the regulation of advertisements related to drugs and health products for the elderly, ensuring strict adherence to advertising review systems and penalizing disguised advertisements that promote health knowledge [2] - There will be a prohibition on health products claiming to treat diseases, aiming to prevent the phenomenon of health products being marketed as "miracle drugs" [2] - Food safety supervision will be strengthened, focusing on the investigation of false information in food and health product labels, particularly regarding disease prevention and treatment claims [2]

Group 1 - The State Administration for Market Regulation has initiated a nationwide campaign to address false advertising in the pharmaceutical and health product sectors targeting the elderly, aiming to combat fraudulent practices that exploit this demographic [1][2] - Local market regulation departments will focus on illegal activities such as false advertising, price fraud, and illegal additives that infringe on the rights of the elderly and disrupt market competition [2] - The campaign includes a "You Shoot, We Check" initiative, encouraging the public to report suspected illegal activities, thereby enhancing the protection of elderly consumers and improving the market environment [2] Group 2 - Investigations have revealed that some live-streaming influencers engage in deceptive practices, using dramatic scripts to attract viewers and promote products that do not have legitimate health benefits [2][3] - Concerns have been raised about the sale of counterfeit health products and medications through live streams, which could lead to health risks for elderly consumers [3] - Legal experts have indicated that selling unregulated or counterfeit products during live streams could result in severe legal consequences, including charges related to fraud and violations of consumer protection laws [3]

Core Viewpoint - The National Market Supervision Administration has launched a special campaign to combat fraudulent practices targeting the elderly in the pharmaceutical and health product markets [1] Group 1: Regulatory Actions - Local market supervision departments will focus on the pharmaceutical and health product sectors for the elderly, addressing false advertising, price fraud, illegal advertisements, and illegal additives that infringe on the rights of the elderly and disrupt market competition [1] - The campaign includes a "You Shoot, We Check" initiative, encouraging the public to report suspected illegal activities by capturing evidence, which will help in the timely collection and handling of violations [1] Group 2: Objectives - The initiative aims to protect the legitimate rights of the elderly and continuously optimize the market competition environment [1]

Market Overview - The current market is experiencing a contraction in trading volume, but a breakthrough seems imminent. The trading volume has reached a trillion scale, indicating that the contraction has reached an extreme state [1] - The gap in the CSI 1000 index has been fully filled, and the support level for the main index needs to be closely monitored in the range of 3300 to 3320 points, suggesting limited overall adjustment space [1] Sector Rotation - The market's "hot stocks" and "hugging stocks" are currently in a waiting phase for new concepts to break through. The new economy sectors are performing particularly well, with four key areas of interest: "eating," "drinking," "playing," and "beautifying" [1] - The "eating" sector includes health products and flavored foods, catering to consumers' dual pursuit of health and taste. The "drinking" sector encompasses natural electrolyte drinks, sparkling water, yellow wine, and sugar substitutes, meeting consumer demands for health, fashion, and personalization [1] - The "playing" sector refers to emerging fields such as trendy toys, card games, and IP economy, with the significant rise of Pop Mart in Hong Kong positively impacting related sectors in A-shares. The "beautifying" sector includes jewelry and lab-grown diamonds, which are also showing good development trends and consumer favor [1] Future Outlook - The adjustment of indices and market sentiment is nearing its end, with a need for a sustainable and capacious new concept to lead the market direction. The AI technology sector, particularly AI intelligent chip-related subfields, may exhibit new vitality and potential in the future [2] - Investors should closely monitor the timing of the market breakthrough, with the latter half of this week and next Tuesday being critical nodes to watch for the direction of indices and bullish trends [2]