6月26日，胡润研究院在广州发布《2025全球独角兽榜》，列出了全球成立于2000年之后、价值10 亿美元以上的非上市公司。胡润研究院从2017年开始追踪记录独角兽企业，这是第七次发布全球独角兽 榜，本次榜单估值计算的截止日期为今年1月1日。 在中国，独角兽企业最多的是北京，有75家。而深圳是独角兽企业增长最快的城市，其次是合肥和重 庆。广州有24家独角兽，位列全球城市第11位，国内城市第4位。广州今年有2家新独角兽，还有2家企 业成功"毕业"——小马智行和文远知行，目前价值分别为340亿元和160亿元。粤港澳大湾区有72家独角 兽，增加了2家，占全国的21%。 据统计，全球独角兽企业总价值5.6万亿美元，增长22%。独角兽企业平均年龄10.6岁，其创始人平均年 龄46岁。 本次榜单所列1523家独角兽企业分布在52个国家（地区）的307个城市。其中，359家独角兽的估值比去 年有所上升，包括203家新独角兽，还有1073家独角兽的估值保持稳定。这些独角兽企业的总价值达到 5.6万亿美元。榜单显示，有4家长沙企业上榜，它们是：三一重卡、中伟新能源、零食很忙、希迪智 驾。 这一榜单最令人瞩目之处在于，虽然当前世 ...

Group 1: Fund Performance and Market Trends - Over 180 active equity funds have reached new net asset value highs as of June 25, with more than half having been established for over a year, some close to 14 years [1] - The new fund issuance market has seen significant activity, with over 100 billion yuan in new fund issuance in June alone, marking a record monthly high for the year [1] - Commercial banks have significantly increased the issuance of perpetual bonds, with over 600 billion yuan issued in the second quarter, a 260.82% increase compared to the previous quarter [1] Group 2: Corporate Developments and Challenges - Mercedes-Benz is facing a crisis in its smart technology transition, with widespread failures in vehicle navigation and CarPlay functions reported, leading to a recall of 16,100 vehicles due to safety concerns [2] - The company plans to invest over 14 billion yuan in R&D to address these issues, but delays in developing its proprietary operating system and slow collaboration with local tech firms have raised concerns [2] - Alibaba has seen a significant leadership change, with nine partners, including Zhang Yong, exiting the partnership, as the company emphasizes a shift towards AI-driven innovation [4] Group 3: Legal and Financial Matters - Li Bao Insurance has faced a surge in legal challenges, with five new cases set for trial in July, bringing the total to 78 cases since 2025 [4] - The court upheld a ruling against Smartisan Technology, requiring the company to repay a loan of 15 million yuan with interest, following a dispute with investor Zheng Gang [6][7] Group 4: Market Movements and Economic Indicators - The U.S. stock market saw all three major indices close higher, with the Nasdaq rising by 0.97% and the S&P 500 nearing historical highs, driven by strong performance in tech stocks [8] - Economic data from the U.S. has bolstered expectations for at least two interest rate cuts by the Federal Reserve this year, leading to a decline in U.S. Treasury yields and a drop in the dollar index [8]

智通财经APP获悉，据港交所6月27日披露，江西齐云山食品股份有限公司(简称：齐云山)向港交所主板递交上市申请，中泰国际为其独家保荐 人。 根据灼识咨询的资料，中国的零食市场呈现高度分散格局，按2024财年零售额计，前五大及前十大公司合计分别仅占总市场份额的5.9%及 10.4%。按2024财年零售额计，公司在中国果类零食行业位列第九及占0.6%的市场份额。 招股书显示，齐云山为中国的一家专注于南酸枣食品产品的知名果类零食公司。根据灼识咨询的资料，于2024年，以零售额计，公司占中国南 酸枣食品市场32.4%的份额，位居行业第一，自1997年以来，公司的旗舰产品南酸枣糕于中国连续28年获中国绿色食品发展中心认证为"绿色食 品"并于2018年获认可为国家地理标志保护产品。公司于1992年推出第一款南酸枣糕。历年来，公司的产品组合已拓展至包括四款其他南酸枣零 食及其他果蔬糕。公司获认定为高新技术企业及农业产业化国家重点龙头企业。 公司的总部位于江西省崇义县，崇义县获国家林业和草原局授予"中国南酸枣之乡"独家称号，公司获益于获取邻近生产设施的南酸枣资源的优 先渠道，据此可在维持供应链效率的同时，尽量减少长途运输导致 ...

科技如何为消费品破局开辟新路径？极致性价比时代降本保优怎么解？平台流量越来越贵，如何破局出 圈？极致性价比时代，降本保优怎么解？千品一面多巴胺，科技感怎么溢价？……这些消费企业发展中遇 见的难题，在2025数字经济新消费创享会上被给出了"最优解"。 创享会现场。 6月26日，2025数字经济新消费创享会在重庆两江新区举行，作为"2025重庆6·18电商节"的重点主题活动之 一，本次创享会以"数商赋能 趣享消费"为主题，聚焦重庆消费品产业与数字经济的深度融合，通过消费投 资新趋势分享、数智消费尖端产品路演、前沿科技消费品沉浸式体验，开展现场资源对接，促进行业交 流，推动资本与项目深度碰撞，助力重庆消费品破圈升级。 科技赋能 助力突围消费红海 重庆蚂蚁消费金融有限公司监事长周昌昊作分享。 在创享会"头部说风向"环节，国内头部金融机构蚂蚁消金、现象级消费品牌美力城分享了当下新消费趋 势。重庆蚂蚁消费金融有限公司监事长周昌昊表示，来自花呗分期的数据显示，"6·18"期间，用分期免息 消费的人数同比增长19%，不愿多花一分冤枉钱、追求资金效率最大化的"精算型消费"已成趋势。花呗尝 试通过提交职业类证书、学习技能类证书、 ...

开业现场，除了全品类的优质产品选择，消费者也能切身体会到"性价比"：一个核桃马里奥面包9.9 元、四个蛋挞9.9元、800克胡萝卜9.9元，5公斤南陵大米也仅需19.9元......吸引人群挤满通道。据三只松 鼠门店人员介绍，开业三天累计接待了约25000人次，其中现烤面包累计出炉超8000个，围裙阿姨无抗 鲜鸡蛋热销近1.5万枚，大铁锅原香大米热卖超1000斤，自营的冷鲜猪/牛肉当日全部售罄。 线下销售火爆的同时，三只松鼠生活馆也同步延伸至线上平台，登录三只松鼠生活馆微信小程序，消费 者即可享受辐射首店周边5公里的线上极速达，最快30分钟送货上门。值得一提的是，销售半径进一步 扩大的线上全国购和针对芜湖地区的同城配也即将上线。 线下落地进程中，三只松鼠也释放了今年规划开20家生活馆新店的目标。与该目标一并进行的，还有企 业新投身布局的便利店、折扣店。三只松鼠强大的供应链与组织管理能力将始终贯穿于这些新业态的运 营中，并为其在消费领域构建"制造、品牌、零售"一体化布局的最终目标护航。 正如章燎原在生态大会上所说的，"品类、零售终端都是我们的手段，最终目的是成为一个超级供应链 公司，无论何种商品都是供应链输出的 ...

Group 1 - The acquisition plan of Three Squirrels to acquire Love Snacks has been terminated after 8 months, with a deal value of 200 million yuan [1] - The announcement indicated that the parties could not reach an agreement on core terms, leading to the decision to terminate the acquisition [1][2] - Following the termination, Three Squirrels signed a deep strategic cooperation agreement with Snack Selection [1] Group 2 - The termination of acquisitions is common in the A-share market, often due to disagreements on terms or conditions [2][3] - The decision to terminate the acquisition can be seen as a responsible choice for both parties, allowing them to seek better opportunities [4][20] Group 3 - For Love Snacks, being acquired could have been a favorable outcome given the competitive industry landscape, providing opportunities for shareholders [7] - For Three Squirrels, the termination is also a "optimal solution," potentially due to disagreements on valuation, market changes, or strategic shifts [8][19] - Love Snacks' valuation has been a point of contention, with significant disagreements reported during negotiations [9][12] Group 4 - The snack industry is entering a new phase of operational growth, moving beyond the initial rapid expansion and consolidation [21][22] - The focus is shifting towards operational efficiency and profitability, as seen in other industries like tea beverages [25][27] - The competitive landscape is evolving, with leading brands solidifying their positions while second-tier brands may face challenges [27][30] Group 5 - The future growth of the snack industry will depend on effectively managing supply chains and understanding consumer demographics [30][33] - Successful businesses in the snack sector will need to prioritize high-quality products and customer retention strategies to thrive in a saturated market [33][34]

瑞财经 吴文婷量贩零食领域的"分手大戏"持续发酵。 近日，爱零食创始人唐光亮在社交媒体连续发布多个视频，讲述与三只松鼠的合作细节与核心分歧，并 宣布已正式起诉三只松鼠。 图片来源：爱零食创始人唐光亮社交账号 唐光亮称，其于去年9月29日与三只松鼠创始人章燎原线下见面，双方确定了三只松鼠收购爱零食的合 作意向，为此自己还放弃了与来伊份洽谈的机会。此后，虽然双方并未敲定收购计划的细节及价格，但 爱零食与三只松鼠已经开始合作，三只松鼠已经可以对爱零食的经营活动施加影响。 唐光亮列举出多项三只松鼠对爱零食施加影响的例子，包括：爱零食在章燎原的指示下，在长沙、天津 开展大型发布会，在三只松鼠的要求下对公司组织架构进行调整等。 至于调低估值，唐光亮称是在今年4月份，三只松鼠找到他时提出的。三只松鼠方面给出的理由是，爱 零食估值太高不便于三只松鼠整合其他品牌。但唐光亮认为估值太低不便于爱零食下一次融资。双方在 此谈判一度陷入僵局，直至6月份谈判破裂。 据了解，6月16日，三只松鼠发布关于投资事项的进展公告，终止收购湖南爱零食科技有限公司（以下 简称"爱零食"）的控制权或相关业务及资产。 而早在2024年10月28日，三只松 ...

Core Viewpoint - The article discusses the challenges faced by Laiyifen, a leading snack company in China, particularly regarding its employee stock ownership plans and financial performance, while also highlighting the competitive landscape in the snack industry. Group 1: Employee Stock Ownership Plans - Laiyifen completed a share buyback plan, repurchasing 2.9054 million shares for a total of 30.2236 million yuan, intended for an employee stock ownership plan [1] - The company faced setbacks with its employee stock ownership plans, having previously failed to meet performance targets in 2022 and terminating its second plan in 2024 due to poor financial results [2][3] - The second plan's performance criteria were adjusted to a 3% revenue increase or a 20% net profit increase, but the company reported a 15.25% decline in revenue and a net loss of 75.27 million yuan for the year [2] Group 2: Financial Performance - In 2024, Laiyifen's revenue was 3.37 billion yuan, down 15.25% year-on-year, and it reported a net loss of 7.527 million yuan, marking a second consecutive year of declining revenue and profit [2] - The company's first quarter of 2024 saw revenue of 1.048 billion yuan, a decrease of 1.23%, and a net profit of 12.43 million yuan, down nearly 80% year-on-year [2] - Laiyifen's gross margin for 2024 was reported at 38.82%, the highest in the industry, exceeding the average by nearly 8 percentage points [6][7] Group 3: Competitive Landscape - The snack industry is witnessing a rise in volume snack brands, with companies like Mingming Hen Mang achieving significant growth, reporting 39.344 billion yuan in revenue and a net profit of 0.913 billion yuan in 2024 [5] - Laiyifen's management indicated that they would maintain strategic focus and not enter the volume snack market, despite the competitive pressure [6] - Other companies in the industry, such as Three Squirrels and Salted Fish, have successfully implemented employee stock ownership plans, while others like Good Idea and Qiaqia Foods have faced challenges [3][5] Group 4: Quality Control and Safety Issues - Laiyifen faced a food safety crisis when a consumer reported finding a foreign object in a product, prompting the company to initiate an internal investigation [10] - The company utilizes an outsourcing model for production, which poses challenges for quality control, necessitating a robust quality management system [11] - Laiyifen has implemented a comprehensive quality control system, including supplier selection and regular inspections, to mitigate risks associated with its outsourcing strategy [11]

"新"向未来——平安基金2025年中期投资策略会于6月25日-26日举行，多位行业专家对当前经济形势、 热门行业发展前景、资产配置等话题展开探讨。平安消费精选混合基金经理丁琳在作《潮起东方，五大 赛道破局新消费——2025年新消费投资分析》主题报告时表示，消费市场正经历着深刻的变革，2025 年，新消费领域呈现出多样化的发展趋势，为投资者带来了丰富的投资机会。 消费趋势展望：精神消费、性价比消费、消费品牌出海 丁琳对中长期消费趋势进行了展望，认为精神消费、性价比消费和消费品牌出海三大领域值得重点关 注。精神消费当前也是短期的消费热点。 休闲零食方面，零售渠道发生变革，零食量贩折扣业态兴起，新零售业态如零食量贩店凭借更高的效率 和更好的消费体验，迅速占领市场。根据弗若斯特沙利文的数据，2024年中国休闲食品饮料零售市场规 模达到37380亿元，预计到2029年将达到49477亿元。零食量贩店通过优化供应链和运营模式，能够提供 更具性价比的产品，满足消费者"多快好省"的需求，符合当下消费大环境。 国货化妆品品牌在国际市场上的崛起是消费品牌出海的重要体现。根据欧睿数据，2024年中国美妆个护 市场规模为5372亿元 ...

Group 1 - The core point of the article highlights the successful sales performance of Wang Xiaolu during the recent 618 shopping festival, driven by a simplified promotional mechanism that eliminated pre-sales and encouraged direct discounts [1] - Wang Xiaolu achieved a GMV of over 50 million on Douyin during the 618 event, marking a 427% increase compared to the previous year, and ranked in the top 3 for meat snack sales on the platform [1] - The brand experienced a sixfold increase in monthly sales on Douyin as of May 31, and also saw over 170% year-on-year growth on Pinduoduo, with total sales on Kuaishou surpassing the previous year's total in just five months [1] Group 2 - Wang Xiaolu's new product, the red oil tiger skin chicken feet, quickly gained popularity, achieving monthly sales exceeding 10 million on Douyin, becoming the fourth product from the brand to reach this milestone [4] - The brand's marketing strategy involved deep integration with popular dramas such as "Zhe Yao," "Cang Hai Chuan," and "Lin Jiang Xian," effectively using scene marketing to attract viewers and enhance brand visibility [4] - During the 618 event, iQIYI collaborated with brands for a themed live streaming event, featuring the director of "Lin Jiang Xian" and brand executives, which attracted significant online engagement with peak viewership reaching 10,000 [6] Group 3 - The diverse consumer trends are expected to drive varied sales strategies and product demands, with ongoing national subsidies and brand discounts continuing post-618 [9] - The market's desire for novelty will challenge brands like Wang Xiaolu to innovate in both product offerings and marketing strategies in the second half of the year [9]