虽然2026年才过了十几天，但我已经知道它会对我好了。我再也不用期待谁"带我去浪漫的土耳其"了，我能说走就能走了。 因为土耳其，对中国免签了。 消息一出，土耳其旅游相关搜索猛增： 去哪儿网搜索量周环比增长3.2倍，同程搜索量相较前日同期上涨235%。 无数人的春节旅行方案从"备战智斗老家亲戚"，变成去卡帕多奇亚坐热气球、到伊斯坦布尔撸猫。 互联网嗅觉敏锐的早已打开了drama之巅《花儿与少年2》，复习"上一季的人都正常"的名场面了。 如今，半个月已过，第一批勇闯土耳其的人已经发来了热乎的"土耳其旅游攻略"： 人在土耳其，刚下飞机，已经破产。 一瓶包装简陋的矿泉水85里拉，换成人民币就是13块7； 小红书用户@ 魏蜀黍 一瓶罐装可口可乐标价210里拉，折合人民币33块9； 小红书用户@ 魏蜀黍 一瓶简简单单的气泡水6.5欧，也就是53块钱..... 500块的签证费确实省了，结果还没出机场就花完了。如果你以为机场嘛，贵点是能接受的，那就大错特错了。 小红书用户@ 嗯 01 土耳其，比迪拜还贵？ 土耳其机场，全球著名的价格屠夫。 在这里，1瓶250ml的芬达价格直逼60块。 因为城里只会更贵。 你吃过80块钱一份 ...

宁波海关查获万余只侵权玩偶 含《疯狂动物城》等热门IP 编辑：熊思怡 查验关员在现场发现，这批货物中既有标注"DISNEY"和"MINISO"联名商标的尼克狐、羊副市长等《疯 狂动物城》角色玩偶，也有塑封包装印有"POPMART"商标的"哭娃"等泡泡玛特经典形象玩偶。经知识 产权权利人确认，上述货物均为未经授权的侵权商品。 "侵权玩偶不仅侵害权利人合法权益、扰乱市场秩序，还可能存在安全隐患。"北仑海关驻穿山办事处查 验三科副科长万勇介绍，这类非法生产的玩偶常使用劣质原材料，在化学添加剂、填充物安全性、小零 件牢固度等方面不符合国家标准，可能威胁儿童健康。 此次查获是宁波海关"潮玩产业知识产权海关保护专项行动(2025)"的重要成果。宁波海关综合业务处副 处长张安卿介绍，今年1—11月，该关共查扣涉嫌侵权货物1021批次，数量达2839.1万件，案值9058.9万 元人民币，数量和案值均位居全国海关首位。(完) 来源：中国新闻网 中新社浙江宁波12月15日电 (张斌)电影《疯狂动物城2》热映引发周边产品消费热潮，部分不法分子借 机制售侵权商品牟利。宁波海关15日发布消息称，近日其所属北仑海关在集装箱查验中，查获 ...

12月8日，泡泡玛特开盘闪崩，暴跌近10%，股价已从高点回落40%左右，为六周多来最大跌幅。与8月高点相比跌约40%，市值蒸发超1800亿港元。 市场人士指出，投资者担忧其在美国"黑五"促销期间的销售表现可能不及预期。 此前11月13日晚，泡泡玛特Labubu新品上市，热度明显下降，其在二级市场的溢价已明显回落。其中隐藏款溢价幅度缩水超50%，而3.0及4.0常规款在二 手平台售价已跌破官方零售价。 晨星分析师表示："美国销售可能走弱，会打击市场对泡泡玛特增长前景的信心。"在公司此前披露其美国地区三季度销售同比暴增逾1200%之后，海外销 售的延续性一直是投资者重点关注的指标。 原价159元的why so serious系列多款在二手平台上已破发，部分已跌超90元。 另一方面，近期海外做空报告频发，基于短期数据波动的景气投资人做空力量较强。部分外资机构预测明年中国及海外市场将出现10%—20%的下滑，市 场对未来业绩不确定性的担忧升温，进而引发估值下调与情绪恐慌，推动股价下跌。 信达证券消费团队表示，高频数据无法反映真实销售全貌：该数据基于信用卡、借记卡抽样调查，且月度数据存在后期实时修正可能；此外，其预收款 ...

Core Viewpoint - The article highlights recent customs enforcement actions against smuggling activities in Qingdao, detailing various types of smuggled goods and the methods used to conceal them [1][2][3]. Group 1: Smuggling Cases - A recent case involved the discovery of multiple types of smuggled goods in a single shipping container, including toys, high-end electronics, and health products, totaling various quantities [2]. - In another instance, customs officials intercepted travelers from the same tour group who were carrying undeclared items, including toys and shoes, valued at over 37,000 yuan, indicating organized smuggling efforts [3]. Group 2: Customs Procedures - The customs authority categorizes seized smuggled goods for disposal, which may include destruction, transfer to relevant administrative departments, or auction [4]. - Seized items are typically destroyed through environmentally safe methods, with oversight to ensure proper disposal and prevent illegal market re-entry [5]. Group 3: Auction and Revenue - Items that are eligible for auction are stored in customs warehouses until the case is resolved, with proceeds from auctions being fully remitted to the national treasury [6]. - Auctions are conducted publicly, with the requirement that auction companies possess the necessary qualifications, and the process is advertised in advance [6]. Group 4: Handling of Specific Items - Cultural relics and endangered species products are transferred to relevant authorities for legal processing, while excess personal items brought by travelers may be taxed or returned [7].

Core Insights - The article discusses a recent case of smuggling intercepted by customs in Qingdao, involving a variety of illicit goods hidden within a shipping container and carried by travelers [1][2][5]. Group 1: Smuggling Case Details - A mixed smuggling case was uncovered by the Rongcheng Customs, revealing over a dozen types of smuggled goods, including toys, high-end electronics, weight loss products, and beauty injections [1][2]. - The customs officials discovered 2,431 Bubble Mart toys, 60 high-end graphics cards, 922 Apple phone screens and accessories, 112,474 chips, 32,520 weight loss pills, 1,614 units of hyaluronic acid, 5,025 units of botulinum toxin, 100 kilograms of bitter lettuce, and 275 kilograms of old electronic products [2]. Group 2: Methods of Smuggling - Smugglers attempted to evade customs regulations by hiding taxable goods and items requiring special permits within ordinary merchandise declarations [4]. - Additionally, some smugglers utilized travelers from a tour group to carry high-value items into the country without declaration [5][6]. Group 3: Customs Procedures and Disposal of Seized Goods - Seized smuggled goods will be categorized for disposal, which may include destruction, transfer to relevant authorities, or auction [7][20]. - The customs will ensure that the destruction of goods is conducted in an environmentally safe manner, employing methods such as incineration, landfill, or dismantling [11][13]. - Items that are suitable for auction will be stored in customs warehouses until the conclusion of legal proceedings, after which they will be publicly auctioned [14][16]. Group 4: Auction Process - The auction process for seized goods involves selecting a qualified auction company, with items being displayed for potential bidders [15][17]. - Proceeds from the auction are required to be fully submitted to the national treasury, with buyers responsible for additional fees [19].

Core Insights - The article discusses the importance of both external cycles and internal organization in determining a company's success or failure during different market conditions [1][2][3] - It presents a four-quadrant model to categorize companies based on their organizational strength and market cycles, illustrating how these factors interact to shape business outcomes [3][4] Quadrant Analysis Quadrant 1: Upward Cycle + Organizational Evolution - Companies like Mixue Ice City and Pop Mart thrive during industry booms due to strategic accuracy and efficient execution, benefiting from favorable market conditions [6][7] - Mixue Ice City's success is attributed to its low-cost model and 100% self-sourced supply chain, achieving high gross and net profit margins in the new tea beverage sector [10][11][12] - Pop Mart capitalizes on global expansion and market adaptability, demonstrating a keen understanding of market dynamics despite periods of lower visibility [14][15][16] Quadrant 2: Downward Cycle + Organizational Evolution - Companies such as Bottle Planet and Midea exemplify resilience in challenging environments, adapting their strategies to align with market demands [17][18] - Bottle Planet, known for its brand Jiangxiaobai, pivoted to a "new liquor" strategy to counteract declining traditional liquor sales, leading to renewed growth [20][21][24] - Midea's transformation into a technology ecosystem company, driven by a focus on organizational strength over individual leadership, has resulted in significant market value growth [26][27] Quadrant 3: Upward Cycle + Organizational Degeneration - Wahaha and Li Ning illustrate how poor organizational management can squander opportunities during favorable market conditions [28][29] - Wahaha's leadership struggles have hindered its ability to capitalize on the bottled water market, while Li Ning's missteps in brand strategy have led to significant market value decline [30][34][35] Quadrant 4: Downward Cycle + Organizational Degeneration - Companies like Master Kong and Three Squirrels face compounded challenges from external market pressures and internal management issues [37][38] - Master Kong's sales have declined due to the rise of food delivery services, while its strategies have failed to adapt effectively to changing consumer preferences [39][41] - Three Squirrels struggles with maintaining quality and adapting to market changes, resulting in significant revenue losses and competitive disadvantages [43][44] Conclusion - The analysis emphasizes that while market cycles are constant, the organizational structure and adaptability of a company are crucial for long-term survival and success [45][46][47]

Group 1 - Samsung has decided to extend the production of DDR4 DRAM until December 2026, reversing its earlier plan to cease production this year due to a surge in demand for DDR4 [2] - The second batch of 718 counterfeit Pop Mart toys was seized by customs, indicating ongoing issues with intellectual property rights in the toy industry [3] - Xincheng Capital has successfully raised over 4.5 billion RMB for a new merger and acquisition fund, aiming to leverage the advantages of the Yangtze River Delta industrial cluster [4] Group 2 - The departure of Yan Weixin, co-founder of Zhiyuan Robotics, may highlight potential discrepancies in the company's technological direction and its alignment with market needs [5] - Recent agricultural policies in China, such as "one certificate, one product," are expected to enhance the quality and order of the pesticide market, benefiting leading companies with multiple registration certificates [6] - CITIC Securities maintains a positive outlook on the home appliance industry, driven by government subsidies and increased demand for air conditioning during summer [7] Group 3 - Infomedia has agreed to be acquired by TPG for approximately 421.4 million USD, with a 30% premium over its recent stock price [8] - A breakthrough in the development of a 6mm thick rare earth permanent magnet motor has been achieved, marking a significant advancement in high-end motor technology [9] - The film "Nanjing Photo Studio" has surpassed 1.7 billion RMB in box office revenue, indicating strong audience reception [10] Group 4 - Researchers have reduced the number of codons in E. coli from 64 to 57, potentially opening new avenues for drug and material development [11] - OpenAI has released two open-weight AI models capable of mimicking human reasoning, marking a significant step in AI accessibility [12] - JD Coin Chain is preparing to apply for a stablecoin license in Hong Kong, countering rumors of withdrawal from the market [13]

Economic Growth - Macau's GDP for Q2 2025 reached 100.38 billion MOP, showing a year-on-year growth of 5.1%, despite a 1.3% decline in Q1, resulting in a 1.8% growth for the first half of the year [1] - The tourism sector is a key driver of Macau's economic recovery, supported by various central government policies [2][3] Tourism Recovery - The number of inbound tourists to Macau exceeded 19.21 million in the first half of the year, marking a 14.9% increase year-on-year, with significant growth from Zhuhai (57.0%) and the Greater Bay Area [2] - The "Tourism+" initiative has diversified tourism offerings, attracting a younger and more family-oriented demographic [3] Cultural Integration - The successful application for UNESCO World Heritage status for Macau's historical district has enhanced cultural tourism, with events like the International Culinary City Carnival promoting local culture [4][5] - Various cultural events and festivals are continuously held, contributing to Macau's reputation as a "City of Events" and enhancing the tourism environment [6] Investment and Development - The development of the Hengqin Guangdong-Macau Deep Cooperation Zone is expected to attract more investment and talent, supporting Macau's economic diversification [7] - In the first five months of the year, the cooperation zone saw a 15.91% increase in VAT invoices, indicating strong growth in sectors like manufacturing and information services [7] Government Initiatives - The new government has outlined major projects aimed at long-term economic development, reinforcing confidence in Macau's stable growth trajectory [8]

Core Viewpoint - The Hong Kong stock market is currently experiencing a concentrated period of mid-term earnings forecasts, with a notable number of companies expecting significant earnings growth [1]. Group 1: Positive Earnings Forecasts - Nearly 120 Hong Kong-listed companies have released earnings forecasts, with 37 companies expecting earnings growth, 14 companies turning losses into profits, and 9 companies anticipating slight increases. The overall positive earnings forecast rate stands at 50.85% [1]. - Pop Mart expects its revenue to grow by no less than 200% and profits to increase by no less than 350% compared to the same period last year, driven by enhanced brand recognition and diversified product offerings [3]. - Huabao International anticipates a pre-tax profit of between 151.2 million to 177.2 million yuan, representing a growth of approximately 91.3% to 124.3% year-on-year, primarily due to the absence of significant impairment losses this period [3]. - Guoquan expects a net profit of approximately 180 million to 210 million yuan, reflecting a growth of about 111% to 146% year-on-year, attributed to ongoing revenue growth and improved operational efficiency [4]. - Zhou Hei Ya forecasts total revenue between 1.2 billion to 1.24 billion yuan, a slight decline of 1.5% to 4.7% year-on-year, but expects profit growth of 55.2% to 94.8% due to optimized store structure and improved sales efficiency [4]. - October Rice Field anticipates adjusted net profit of no less than 283 million yuan, a growth of at least 90% year-on-year, driven by continuous innovation in home food categories and enhanced cooperation with quality sales channels [5]. - Andeli Juice expects a net profit of approximately 187 million to 214 million yuan, an increase of 40% to 60% year-on-year, mainly due to increased customer orders and significant growth in concentrated juice sales [5]. Group 2: Negative Earnings Forecasts - Some companies, such as Conning Hospital, expect a decline in mid-term earnings, with a projected drop in net profit of about 25% to 35% year-on-year, primarily due to reduced operating income from decreased average daily expenses per bed [7]. - Conning Hospital's previous report indicated a total revenue of 1.654 billion yuan for 2024, a year-on-year growth of 3.63%, but a net profit decline of 23.7% [8]. - Xinyi Solar anticipates a net profit decrease of 56% to 66% for the first half of 2025, attributed to a significant drop in average selling prices of solar glass products amid oversupply [8]. - Xinyi Glass expects a net profit decline of 55% to 65% for the same period, due to continuous revenue and gross profit declines in the float glass business, influenced by reduced demand and market price pressures [8].

Core Insights - A traveler was found carrying a large quantity of counterfeit "POP MART" branded toys and packaging while departing from Beijing Daxing Airport, raising significant intellectual property infringement concerns [1] Group 1: Incident Details - Customs officials discovered 952 counterfeit toys and 1,586 pieces of plastic and paper packaging during a routine inspection of outbound luggage [1] - The traveler admitted to carrying these items for resale purposes, indicating a commercial intent behind the infringement [1] Group 2: Legal Actions - The customs authorities have detained the goods based on preliminary assessments of substantial infringement risks [1] - The rights holder, "POP MART," confirmed that the toys and packaging were unauthorized, leading to a formal request for intellectual property protection from customs [1]