当新年的第一缕阳光照亮车间、港口与写字楼，中国企业已立于新征程接力的关键渡口——"十四五"辉 煌收官，"十五五"序幕徐启。回望过去，我们亲历了世界之变、时代之变、历史之变，也见证了中国企 业顶压前行、逆势生长的坚韧与智慧。 面向2026，一个更为复杂和壮阔的新征程正在展开。 与时代同频：《中国企业报》的三十八年 1988年1月，《中国企业报》在改革开放的大潮中创刊。这份以企业和企业家为报道核心的报纸，从诞 生之日起，就把"面向企业、为企业服务"写在自己的旗帜上。 三十多年来，《中国企业报》亲历并记录了从计划经济向社会主义市场经济的历史性跨越，见证了中国 企业从"追赶者"向"并行者""领跑者"的转变。她不仅是政策的传播者，更是实践的观察者、经验的总结 者和问题的监督者，始终与中国企业同呼吸、共命运。 一系列重大政策举措，为企业发展指明了方向、注入了信心： 国家将全方位扩大国内需求，加快放宽服务消费限制，出台首发经济、赛事经济、"人工智能+消费"等 新政策。财政、商务、金融协同发力，通过消费品以旧换新、服务消费提质扩容等措施，让企业稳定预 期。 中央明确将适当增加中央预算内投资规模，靠前实施"十五五"重大项目。超 ...

Core Insights - The article emphasizes the importance of capital allocation in corporate management, highlighting that effective CEOs do not need to be marketing or technology geniuses but must understand how to allocate resources efficiently to create shareholder value [2][24]. Group 1: Characteristics of Successful CEOs - Tom Murphy, a notable CEO, exemplifies the traits admired by Warren Buffett, including frugality, humility, and a focus on efficiency and capital allocation [1][3]. - The average returns generated by the CEOs studied in "The Outsiders" exceed the S&P 500 index by 20 times and outperform their peers by 7 times, showcasing the effectiveness of their long-term investment perspectives [2][6]. - CEOs like Murphy and Henry Singleton prioritize capital allocation over traditional management roles, leading to higher profit margins and resilience against economic downturns [5][7]. Group 2: Capital Allocation Strategies - Murphy's approach involved strict cost control and efficient capital allocation, transforming a small local television station into a media empire with a market value three times that of its competitor, Columbia Broadcasting System, after 30 years [3][4]. - Singleton's unconventional capital allocation strategies, including large-scale stock buybacks, created significant shareholder value, with a 20.4% annualized return compared to the S&P 500's 8% during his tenure [6][7]. - Bill Anders of General Dynamics focused on divesting underperforming assets and returning capital to shareholders through stock buybacks and special dividends, significantly increasing the company's stock price [8][10]. Group 3: Focus on Cash Flow - Dick Smith of National Amusements recognized the stable cash flow potential of the cinema industry, emphasizing the importance of maximizing free cash flow over accounting profits [20][22]. - Smith's strategy involved using the company's cash flow to acquire undervalued cinema chains, creating a "snowball" effect of growth through acquisitions [21][22]. Group 4: The Role of the CEO as Chief Investment Officer - Buffett views the CEO's primary responsibility as capital allocation, which determines 90% of a company's long-term value [23][24]. - The article illustrates how Buffett's systematic and disciplined approach to capital allocation has led to exceptional growth in Berkshire Hathaway's per-share book value over the decades [24][25].

Core Insights - The "Futures Daily" has been recognized as a "High Academic Influence Chinese Newspaper" for the year 2025, marking a consecutive achievement from the previous year [1][3] - The report evaluates the citation of articles published in newspapers from 2015 to 2024, highlighting the significant role newspapers play in academic talent cultivation and the development of various disciplines [3] Company Insights - "Futures Daily" is the only professional daily that comprehensively reflects the development dynamics of domestic and international futures markets [3] - The newspaper has witnessed the evolution of China's futures market from its inception in the early 1990s to its current maturity, serving as an authoritative news center and information carrier for the industry [3] - The publication is committed to maintaining and promoting the healthy development of the entire futures industry, contributing to China's high-quality economic development [3]

Group 1 - The core theme of the meeting was "Deepening Systematic Reform and Being a Vanguard in the Media Sector," focusing on the achievements of the Liberation Daily in promoting media integration and enhancing communication effectiveness in the past year [1] - The meeting highlighted the need for mainstream media to clarify confusion and provide guidance during critical moments and major issues, emphasizing the role of the Liberation Daily's Upstream News App in driving content production and dissemination [1] - The meeting called for increased attention from party organizations and relevant departments to ensure the quality and quantity of party newspaper distribution, aiming to amplify the party's mainstream voice [1] Group 2 - The meeting recognized outstanding individuals from the 2025 annual distribution work of the Liberation Daily, launching a new round of the "Shangguanhao Creator Ecological Circle" with four professional creators joining the Upstream News platform [2] - A new batch of chief editorial staff was appointed, with 19 journalists and editors receiving their certificates during the meeting [2]

Group 1 - The core theme of the forum is the transformation of media driven by technology, which has evolved from being an auxiliary tool to becoming the central engine of systemic change in media [1] - Central Broadcasting Television Station emphasizes the integration of "thought, art, and technology" to foster breakthroughs and enhance content penetration through advancements in AI, 5G, and ultra-high-definition technologies [1] - Shanghai Media Group is focusing on reconstructing its technological foundation and innovating application scenarios for vertical models to accelerate its progress in the AI sector [1][2] Group 2 - Shanghai Media Group has developed an intelligent production and communication platform to upgrade AI applications from individual points to a full-chain, full-process innovation [2] - Chongqing Broadcasting Group is actively developing its own "Hualong Chip" intelligent model and has established a provincial-level XR virtual studio, collaborating with Huawei and Tencent to create AI innovation centers [2] - Local media, particularly at the city and county levels, face significant challenges and are adopting a collaborative approach to drive systemic transformation through AI technology [3] Group 3 - The establishment of a project mechanism that involves media, academia, and industry collaboration is essential for addressing key areas such as intelligent communication and emerging business models [3] - The core competitive advantage in the future of media and intelligent communication lies in the shared core data repository [3] - The media landscape has been fundamentally altered, emphasizing the importance of reaching audiences effectively through algorithms rather than merely owning the communication channels [3]

最近，美国长岛一个名为蒙托克的海滨小镇上，一群13到17岁的青少年办的纸质报纸《Ditch Weekly》"火"了。 没有成年人参与运营，没有老师监督，也没有父母出资，仅靠自己采访、写稿、排版、拉广告，这群孩子靠着热情 + 执行力，把一份小得不能再小的"地 方小报"，真的做成了最有意义的项目之一。 看完这篇报道，说实话，我获益颇丰。我相信其他的中国孩子和家长们，也能从他们身上学到点什么。 出版一份纸质报纸，这样一种"过时"的媒介，但你也可将它视作一件越来越稀缺但真实的工作。 从八年级开始，比利、泰迪、埃利斯这几个东汉普顿中学（East Hampton Middle School）的学生就着手创办报纸。他们为这份报纸取名Ditch，灵感来自 小镇附近的一处冲浪地标 "Ditch Plains"。 比利·斯特恩只有15岁，是《Ditch Weekly》的创始人之一，2024年暑假一开始，他就带着几个朋友在镇上的咖啡馆定期开"编辑部会议"。 他们会带着红笔在打印稿上修改错别字，讨论头条顺序，还会争论"这个故事到底有没有新闻价值"。 "这是我们这个年龄段能做的真实新闻。"他们说。 劳伦和15岁的瓦伦蒂娜·巴尔杜奇刚刚 ...