整理 ｜ 彭倩 #Big News# 传瑞幸大股东竞购星巴克中国，要拿下股权不容易 星巴克中国的股份竞购阵容越发强大，已从20家扩充至30多家。 除了此前传出的高瓴资本、私募基金凯雷、KKR 之外，本周又传出另一位重量级投资方——瑞幸咖 啡的最大股东大钲资本，考虑到瑞幸和星巴克的强竞争关系，大钲资本算是最具戏剧性的一位潜在投 资者。 据 CNBC 援引"知情人士"消息称，星巴克已收到数份针对其中国业务的收购提议，大多数投资者均 瞄准控股权；但星巴克仍倾向于保留30%的股权，符合此前"保留相当比例"的说法，其余股权将由多 家买家分摊，每家持有不到30%。初步筛选可能在两个月内完成，但整个交易在今年年底前完成的可 能性不大。 新的股权方案下，星巴克中国的估值首次突破了百亿美元。该消息流传开后，星巴克美股股价上涨 3%，市值达到1078亿美元。 不过，一位知情人士对小食代称，大钲资本胜出的可能性不大，根本原因还是在于两家相互竞争的关 系。从最新传出的投资架构来看，虽不再是控股股东，但仍是最大股东，星巴克或将拥有中国业务的 核心战略掌控权，但新股东的加入有可能通过董事会席位影响星巴克的中国策略，大钲资本肯定也希 望能 ...

一 这两天，我去山东临沂看望了一个老朋友老谭。 老谭是当地文旅部门的负责人，说起他们最近费县新上线的一个"窝囊版"漂流，神秘兮兮地给我卖了个关子："熙少，你一定没玩过，来体验一下吧！" 虽然这项目光听名字就有点打击自尊心，但人到中年，我还是没忍住问了他一句："这真的不危险吧？" 他没多解释，只说："兄弟，你对漂流有阴影是吧？放心，这个不一样。" 那天上午，阳光很好，温凉河的水面看起来平静得像一面镜子。 我换好救生衣，站在浅滩边，工作人员拿着小喇叭喊："等下自己慢慢躺下，放松就行，不用手划，不用担心翻。" 我有点不自在："就……躺下是吗？" 他点点头："对，随波逐流。" 我在心里嘀咕：这算漂流吗？跟我想象中的刺激水战一点都不沾边，更像水上世界里的懒人河。 可等真躺下去，水面微凉，脑袋被轻轻托着，耳朵里全是水声，头顶是白云飘过，心脏那种必须马上干点什么的紧张感，忽然被洗掉了一半。 头几分钟，我还想挣扎着找点刺激感，但越漂越觉得，轻松就挺好。 等漂完上岸，我刷手机才发现，社交媒体上关于"窝囊版"漂流的短视频已经有好几百的播放量。 有人在评论区调侃："像古代弃婴一样被放生。"还有人说："这太适合我了，'又菜又爱玩'的 ...

Core Viewpoint - The introduction of the "AI Mediator" by the Yuhang District Market Supervision Administration significantly enhances the efficiency of resolving online consumer disputes, reducing the need for human intervention and improving consumer trust. Group 1: AI Mediator Implementation - The "AI Mediator" was launched in April 2024 to address the high volume of online consumer complaints, which exceeded 400,000 in the first half of the year [4][5] - The AI system automates tasks such as outbound calls and case entry, leading to a 30% increase in mediation efficiency, especially during peak complaint periods like "Double Eleven" and "618" [5][8] - Since its launch, the "AI Mediator" has completed 231,400 pre-mediation cases, achieving a 73% completeness rate in key information collection and over 90% consumer connection rate [8] Group 2: Operational Efficiency - The AI system has reduced the average response time in conversations from 3 seconds to 0.7 seconds, enhancing the interaction quality [6] - The AI Mediator can handle various open-ended questions and adapt to unexpected dialogue interruptions while maintaining emotional stability [6][8] - The system has successfully resolved 8% of disputes without the need for human intervention, significantly increasing the daily mediation volume to over 2,200 cases [8] Group 3: Legal Knowledge and Training - The "AI Mediator" is equipped with a comprehensive database of laws, including the Consumer Rights Protection Law, allowing it to apply relevant legal provisions in real-time during mediations [8] - The AI has undergone multiple iterations and training using over 2 million historical complaint data to refine its mediation techniques and strategies [6][8] - Continuous optimization efforts aim to enhance the user-friendliness of the AI Mediator, with plans to integrate it further into the 12315 complaint system [8]

Group 1: Industry Trends - The popularity of sun-protective clothing reflects changing consumer preferences and the evolution of fashion trends, with over 70 billion garments produced annually in China, providing more than eight pieces per person globally [1] - The rise of outdoor activities has led to increased demand for specialized clothing such as cycling, hiking, and camping apparel, indicating a shift towards health and wellness in consumer choices [1] - The emergence of various fashion styles, such as "Korean style" and "dopamine dressing," showcases the dynamic nature of aesthetic preferences and the desire for self-expression through clothing [2] Group 2: Cultural Influence - The trend of "Guochao" (national tide) in fashion signifies the revival of traditional Chinese culture, with 54.4% of young respondents favoring national-style clothing as their daily wear [3] - The integration of traditional patterns and modern designs in clothing reflects a growing cultural confidence and appreciation for heritage [3] Group 3: Technological Advancements - The clothing industry is increasingly supported by technological innovations, including smart temperature control fabrics and lightweight materials, enhancing performance in extreme conditions [3] - The shift towards intelligent production lines and AI-driven design processes illustrates the transformation of traditional manufacturing into a more efficient and innovative sector [4] - Continuous improvements in supply quality and consumer demand fulfillment are expected to drive the future growth of the clothing industry, contributing to a "beautiful economy" [4]

Core Viewpoint - The article emphasizes the importance of sustainable business practices and how companies can integrate social value with commercial value from their inception, creating a positive cycle of "doing good" in business [4][18]. Group 1: Sustainable Business Practices - Patagonia, a pioneer in integrating environmental protection into business, has consistently prioritized sustainability, exemplified by its provocative 2011 advertisement urging consumers not to buy unnecessary products [6][8]. - The company donates 1% of its sales to environmental causes and has a long history of using recycled materials in its products, showcasing a commitment to sustainable practices [8][9]. - Patagonia's approach to community engagement includes making stores community-friendly spaces, which fosters trust and loyalty among consumers [9]. Group 2: Emerging Sustainable Companies - MuMo, a wooden furniture company founded in 2011, emphasizes a philosophy of simplicity and environmental responsibility, using FSC-certified wood and avoiding harmful finishes [10][11]. - The founder of MuMo believes in a sustainable lifestyle that extends to employee welfare, avoiding piecework systems to ensure worker health and well-being [11]. - Seven Year Organic Rice Wine, founded by Shao Ruyi, transitioned from organic vegetable farming to organic rice cultivation, ultimately creating a sustainable business model that supports local agriculture [13][14]. Group 3: Design and Sustainability - REDO, a design company, focuses on integrating sustainability into the design process, aiming to reduce waste significantly through innovative design solutions [20][21]. - The company collaborates with brands to repurpose materials, such as turning used glass bottles into sustainable products, thereby reducing carbon emissions [21]. - REDO's efforts highlight the importance of public education and talent development in promoting sustainable design practices [21]. Group 4: B Corp and Shared Value - The concept of "benefit" is central to the discussion, with B Corps redefining business success to include social and environmental responsibilities alongside financial performance [22][24]. - The article notes that there are currently 71 certified B Corps in mainland China, indicating a growing movement towards businesses that prioritize broader stakeholder interests [24]. - The relationship between ESG (Environmental, Social, Governance) and B Corp principles is highlighted, suggesting that both frameworks can enhance a company's sustainable development path [24].

新华财经北京6月25日电（记者张斯文）近年来，随着中国经济的快速发展和居民消费水平的提升，体 育产业迎来了黄金发展期。作为全球最大的体育用品消费市场之一，中国本土运动品牌在经历了早期的 野蛮生长后，正逐步向品牌化、高端化和国际化方向迈进。 在这一过程中，安踏体育（02020.HK）凭借其独特的"买买买"战略，通过一系列国际并购，从一家区 域性企业成长为全球体育用品行业的重要参与者。 海通证券分析师寇媛媛表示，狼爪为高端户外品牌，主要销售地区在德语地区和欧洲部分区域，在专业 户外有12%份额，专业场景覆盖包括徒步、自行车、露营、登山等，主要产品包括冲锋衣、软壳衣、登 山靴等，狼爪品牌的收购有利于安踏进一步加强对户外品类的专业布局。 安踏体育董事局主席丁世忠表示，此举标志着安踏集团全球化战略迈出重要一步，多品牌战略为企业应 对全球市场不确定性奠定了坚实基础。 财报显示，2024年，安踏体育营收同比增长13.58%至708.3亿元，首次突破700亿元；如果加上其控股的 亚玛芬体育，两个品牌营收之和首次突破千亿元，成为继耐克和阿迪之后，全球第三家营收突破千亿的 体育用品集团。 申万宏源证券分析师王立平指出，安踏体育发 ...

Core Insights - The article highlights the rise of Ropenet, a company specializing in rope and net technology, as a "hidden champion" in the global industrial textile market, showcasing its journey from a follower to a leader in the industry [1][2]. Company Development - Ropenet initially operated as an OEM for foreign brands, where foreign companies took 80% of the profits from a single rope [2]. - The company was founded in the early 2000s and shifted its focus to developing high-end rope products domestically, particularly in the climbing gear sector, which was previously dominated by Western companies [2]. - After five years of research and over 5,000 experiments, Ropenet successfully developed products that met international CE certification standards, breaking the foreign monopoly in emergency rescue ropes and safety harnesses [2]. Technological Innovation - In 2016, Ropenet made significant advancements in technology after discovering a waterproof dynamic rope at a trade show in Germany, leading to the development of a product with an absorption rate of only 0.9%, well below the international standard of 5% [5]. - The company invests over 5% of its annual revenue into R&D, significantly higher than the industry average, and has established a comprehensive innovation system that encourages a culture of research and development [7]. - Ropenet has obtained over 200 patents and has participated in the formulation of more than 30 national and industry standards [7]. National and Global Impact - Ropenet's products are utilized in various high-tech applications, including aerospace, marine technology, and industrial lifting, aligning with national strategic goals [10][12]. - The company has collaborated with prestigious universities to undertake numerous national and provincial research projects, contributing to the development of new materials and technologies [12]. - Ropenet's ropes were used in the 2020 Mount Everest elevation measurement, demonstrating their capability to withstand extreme conditions [13]. Strategic Expansion - The company is implementing a "Rope + " strategy focusing on green, low-carbon, and intelligent upgrades in traditional rope manufacturing, with a new investment of 267 million yuan in an advanced manufacturing facility [16]. - Ropenet is expanding globally, with products now available in over 100 countries and regions, and is actively promoting the internationalization of Chinese rope standards [21][22]. - The company has established a production base in Thailand and aims to create a foothold for its global expansion, emphasizing a localized strategy [20]. Cultural and Organizational Strength - Ropenet's success is attributed not only to technological advancements but also to its strong corporate culture that emphasizes innovation and teamwork [21][22]. - The company fosters a unique "rope spirit" culture, where every employee is trained to understand the importance of collective effort in achieving breakthroughs [22].

Core Insights - The Chinese outdoor sports market is projected to exceed 300 billion yuan in total consumption by 2024, with a growth rate of nearly 40% [1] - The outdoor sports industry in China is becoming a significant force in driving the overall sports industry development, with increasing consumer demand and participation [1][2] - The outdoor sports sector is experiencing rapid growth, with a notable shift towards high-performance gear over luxury brands [1][2] Industry Trends - The outdoor sports industry in China has become one of the fastest-growing segments within the sports industry over the past decade [2] - There is a growing trend of outdoor sports becoming more popular and diversified, with an increasing number of participants engaging in various outdoor activities, including niche extreme sports [2] - The integration of outdoor sports with cultural tourism and commercial activities is deepening, reflecting a broader trend of lifestyle changes among consumers [2][3] Consumer Behavior - The rise in outdoor sports consumption is linked to increased disposable income and changing lifestyles, with outdoor activities becoming a key component of new consumption patterns [2] - Urbanization and the implementation of health initiatives in China are driving the demand for outdoor activities, as people seek closer connections with nature [2][3] Future Outlook - China is expected to maintain high growth potential in the global outdoor sports market for the foreseeable future [3] - The industry needs to transition from extensive development to high-quality, differentiated, and standardized growth, focusing on brand development and professionalization [3][4] - The outdoor sports boom reflects changes in consumer structure and lifestyle, contributing to economic transformation and providing new growth opportunities in urban and rural areas [4]

（文章来源：北京商报） 本届博览会国际化水平跃升。来自俄罗斯、菲律宾、日本等22个国家的旅游机构携特色资源参展，美 国、韩国等39家国际展商带来前沿文旅产品，国际展商数量较上届翻倍。各国纷纷推出滑雪、登山、冲 浪、潜水、游艇、邮轮、海钓等特色旅游线路和项目。 此外，针对暑期旅游旺季来临的机遇，北京文旅博览会连续三天举办"酒店与旅行社合作对接会"，为 230多家酒店和20多家旅行社打造精准匹配服务平台，促成"门当户对"合作，共同放大品牌效应，吸引 全国游客和入境游客群。同时，中旅、首旅、携程、众信、新东方文旅等企业推出了特色旅游线路，为 暑期消费旺季预热。 众多知名品牌将在展会期间"首展""首发""首秀"。北京地区博物馆文创精品展区推出多款文创新品。开 馆当日，北京文旅博览会首发了与天坛合作推出的"北京文旅博览会"定制数字文创以及门头沟文旅×北 京文旅博览会联名印章。中国旅行社协会联合北京银行首发"银发数字旅行卡"；工商银行北京分行推出 文旅消费金融惠民措施。 北京商报讯（记者吴其芸）6月20日，2025北京国际文旅消费博览会（以下简称"北京文旅博览会"）在 北京展览馆正式开幕。据悉，展会由北京市文化和旅游局（ ...

2025年京东"618"活动再创新高，京东零售线上业务、线下业态及京东外卖整体订单量超22亿单，下单 用户数同比增长超100%。 《金融时报》记者注意到，作为新圈层、新品类的主要电商孵化平台，天猫今年"618"活动之初上线 的"所有爸妈的幸福家"就是主播李佳琦面向中老年群体的新助播矩阵号，上线当日带货52个现货单品， 观看近350万人次。 另据京东公布的数据，今年"618"期间，银发族在AI等新潮产品、徒步户外运动的成交额分别同比增长 36.9%、26.2%；智能机器人与AI眼镜等成交额同比增长超180%；定制西装、套装等成交额同比增长超 170%。 "平时我就会在网上买东西，前不久平台促销一开始，我就买了一个智能手环，还买了一些习字的帖子 和毛笔。"有着丰富网购经验的张大爷告诉《金融时报》记者，趁着线下店铺也有折扣，他还去家附近 的某品牌门店购买了一台数码相机。经常在北京周边郊区徒步的王阿姨则购买了登山徒步鞋、登山杖和 皮肤衣等装备，花费1000余元。 像张大爷和王阿姨这样越来越多热衷于智能科技体验与户外探索的银发族，跳出所谓的"社会时钟"，消 费需求越来越年轻化，带动了兴趣、品质、精神等多元细分消费市场的 ...