一、品牌

石头科技：拟于境外发行股份（H股）并在香港联交所主板上市

石头科技发布公告，公司拟于境外发行股份（H股）并在香港联交所主板上市。

北京石头世纪科技股份有限公司（以下简称“公司”）于2025 年6 月6日召开第三届董事会第七次会议及第三届监事会第七次会议，审议通过了《关于公司发行 H 股股票并在香港联合交易所有限公司上市的议案》《关于公司发行H股股票并在香港联合交易所有限公司上市方案的议案》等有关议案。

lululemon：第一季度全球业务净营收24亿美元，同比增长7%

lululemon发布了2025财年第一季度财报。在第一季度，公司全球净营收同比增长7%至24亿美元，其中国际业务净营收增长19%。具体至中国大陆市场，2025财年第一季度，中国大陆业务净营收同比增长21%，在固定美元基础上，净营收同比增长22%。

比亚迪首次公开回应“反内卷” 

2025中国重庆汽车论坛上，比亚迪集团品牌及公关处总经理李云飞称，该公司将用科技创新来“反内卷”。他提出4点倡议，一是为消费者负责，拒绝夸大式宣传；二是，以量产为准，拒绝透支式营销；三是比技术、拼产品，抵制阴阳、反对拉踩；四是打击造谣等。

比亚迪王传福：公司今年海外销量数据将会非常好，未来海外销量相信会逐月提升

比亚迪董事长王传福6月6日上午在公司2024年度股东大会上表示，公司今年海外销量数据将会非常好，未来海外销量相信会逐月提升，目前来看公司在多个海外市场销量已有逐月提升迹象。“海外市场价格较为稳定，对公司盈利帮助较大。”王传福说，海外和高端化一样是公司的重要战略。

名创优品：正在对以TOP TOY品牌运营的潮流玩具业务潜在分拆上市可能性进行初步评估

名创优品在港交所公告称，本公司注意到若干媒体报导，称本公司可能计划分拆本公司特定业务独立上市。本公司正在对其以“TOP TOY”品牌运营的潮流玩具业务潜在分拆上市可能性进行初步评估，以期优化股东价值。拟议计划乃属初步阶段，是否会推进取决于包括市场条件在内的诸多因素。

华晨宝马将换帅，迎来第一任女CEO

近日，华晨宝马汽车有限公司（以下简称华晨宝马）董事会宣布重要人事任命，宝思齐女士（Birgit Böhm-Wannenwetsch）将自2025年8月1日起，接替戴鹤轩博士（Dr. Franz Decker）出任华晨宝马总裁兼首席执行官。

据了解，在加入华晨宝马前，宝思齐女士负责领导宝马集团在美洲地区的金融服务部门，掌管宝马集团全球最大的金融服务业务。在三十余年的汽车行业职业生涯中，她在欧洲和北美担任过众多重要的财务和管理职务。她于2018年加入宝马集团，担任财务高级副总裁和集团司库。她拥有德国明斯特和西班牙马德里的工商管理学士学位，以及美国斯坦福大学的管理学硕士学位。此次履新，意味着华晨宝马将迎来第一任女性CEO。

二、互联网

蓝色光标：筹划发行H股股票并在香港联合交易所有限公司上市

近日，蓝色光标发布公告，董事会同意公司发行境外上市股份（H股）并申请在香港联交所主板挂牌上市。公司将在股东会决议有效期内择机完成本次发行上市。

周鸿祎：我准备干掉360整个市场部

360集团创始人、董事长兼首席执行官周鸿祎发视频称，“我准备干掉360整个市场部，这样一年可以给公司省下几千万。”“听起来像天方夜谭，但这次我准备动真格的了。”周鸿祎表示，“从今天起我要准备做一个挑战，我一个人要完成一场完整的新产品发布会——测试公司6月11号即将发布的纳米AI超级搜索智能体。”“这件事我如果干成了，就意味着AI智能体确实有颠覆性的发展，传统的效率模型可能要被淘汰了，360市场部也可以全部转岗到其它部门或者都给我编智能体去。”周鸿祎表示。

闲鱼推出互动直播新频道，“闲鱼夜市”晚8点上线

闲鱼将于6月6日晚8点在首页顶端黄金流量位置上线“闲鱼夜市”新入口，该频道主打特色互动型直播，把用户喜爱的好物鉴宝、情感相亲、技能咨询等生活娱乐化内容搬进了频道内。据了解，每晚的8点至12点是闲鱼用户十分活跃的时段，千万人涌入闲鱼淘宝贝、交流兴趣、找同好、技能变现、发现新乐趣。据闲鱼夜市频道相关负责人介绍，“闲鱼夜市的直播内容将更突出真实、野生、实用和互动性，是更‘有人味’的内容直播场域”。

爱彼迎任命首席营销官与首席体验官

爱彼迎当地时间6月5日宣布，Rebecca Van Dyck将担任首席营销官。Van Dyck曾在Meta、苹果和Wieden + Kennedy等公司任职，并于今年早些时候开始为爱彼迎提供咨询服务。此外，2020年起担任爱彼迎全球营销主管的Hiroki Asai被任命为公司首位首席体验官。

OpenAI称将就《纽约时报》的诉讼请求提起上诉

当地时间6月5日，OpenAI发表声明称，正在对《纽约时报》要求无限期保留消费者ChatGPT和API客户数据的诉讼请求提起上诉。OpenAI表示，“信任和隐私是我们产品的核心”，《纽约时报》及其他原告的诉讼请求从根本上违背了其对用户做出的隐私承诺，是越权行为。

亚马逊采用Deepseek和阿里通义千问进行机器人操控

据外媒报道，美国亚马逊公司正在加速布局人形机器人，并采用DeepSeek、阿里通义千问等开源的大语言模型进行机器人的操控。据了解，亚马逊已在其硬件研发部门 Lab126 内组建了一支新的 Agentic AI（代理式人工智能）团队，着重推进“物理 AI ”的研发工作，希望创造能够根据自然语言指令执行任务的机器人。亚马逊团队成员介绍称，他们一直在使用DeepSeek、阿里通义千问等开源的大语言模型，来帮助机器人更好地理解周围环境并规划自身行动。

继外卖之后，京东再加码酒旅赛道

继外卖之后，京东再加码酒旅赛道。6月8日获悉，京东已启动酒旅相关业务，并在业内“招兵买马”，甚至有业内传言，京东以3倍薪资从飞猪、同程、携程等平台“挖人”。京东进军酒旅的决心不仅体现于此，在销售方面，京东主打机票“无捆绑”卖点，也予以多家酒店官方补贴，希望以“高频打低频”获取新增长点。

三、广告片

新东方首支AIGC广告，助力高考

新东方首支高考AIGC短片正式上线，带着全宇宙三份与众不同的高考祝福，祝每一位高考学子。

伊利广告还在发力？高考请来了“大娘子”

今年伊利的广告发力实在太猛了。蒋奇明嚼柠檬、倪萍的倪妈说、安慕希和豪哥哥、五一甲亢哥、端午节柯洁。每一次出手都是重量级。而今年高考伊利又请来了“大娘子”祝考生们“包祐高中”。

四、海外资讯

Meta 为广告商提供细化指标

Most Meta product news isn’t a flashy announcement or the debut of a hardware line. For many products, it comes down to yearslong evolutions and incremental change.

That’s the way of it with a set of new features introduced on Wednesday that give advertisers more granular metrics for how they value traffic and ad campaign conversions – such as ROAS based on profit margin, rather than total sales, or particular conversions that aren’t immediate or online, like subscription sign-ups or someone signing up to test-drive a car.

Meta’s new AI campaign refinements “allow [advertisers] to optimize and then maximize how much profit they’re actually driving,” Fred Leach, Meta’s vice president of product management, told AdExchanger.

Something old, something new

The changes announced today expand on what’s already available for three tools within Meta’s AI-based product suite. There’s Value Rules, which lets advertisers determine particular customer attributes to prioritize; Value Optimization, which determines the metric for success to define ROAS; and Incremental Attribution, a setting meant to hone campaigns on net-new customers to the brand.

Incremental Attribution used to be available only to a select number of advertisers, but is now globally available. Meta’s Value Rules is available to 50% of advertisers, and Meta is aiming for 100% in the near future – up from 10% in the past.

In addition to expanded reach, Meta has recently unveiled new features that allow advertisers to target their audiences and track their data with more precision.

Meta’s Value Optimization solution now allows users to track ROAS by a wider range of KPIs – specifically, profit margins and specific events.

If a company earns more profit for an item at $20 than with another product that costs $30, the campaign logic could optimize to the higher profit margin. Although, to do so, the advertiser must also provide the Meta ad platform with its item-level profit margin information. There are no privacy concerns, but it is sensitive data for the business.

Customers can also optimize for what Meta calls “custom events,” such as first-time purchases or customers who buy multiple related products. Businesses can connect their “third-party analytics information back into Meta and optimize for those insights,” Leach explained.

Adobe, Northbeam, Rockerbox and Triple Whale are the ad analytics vendors currently available to sync data for the new custom events metrics.

ROAS isn’t going away as a term or shorthand for campaign success. But the one-size-fits-all approach to ROAS measurement is going away.

Quick fix

Meta is asking a lot of advertisers to pipeline over their profit margin particulars and other granular business info. Meta isn’t providing a window for advertisers to see more data; it’s asking to get more data from advertisers themselves.

What Meta offers in return for that level of data access is ease and efficiency.

For example, the new Incremental Attribution tool functions as a one-click lift test and ongoing incrementality measurement solution. Advertisers “simply toggle the setting on in Ads Manager,” per the release.

Behind that on/off toggle is a massive data science and measurement services endeavor. Lots of brands work with (pricey) standalone incrementality measurement vendors, perhaps layered on top of a testing services provider like LiveRamp’s Habu. Creating city-scale control groups for geo-testing incremental attribution is a huge endeavor.

Or a toggle switch.

In a traditional lift test, Leach pointed out, “you do have to withhold your ad from some people”

to have a control group for comparison. Meta’s system has already been trained on preexisting data from thousands of past campaigns, he said, and it uses that data “to generate incremental conversions for an advertiser from that large corpus.”

Advertisers nowadays are looking for more “easy buttons,” so the appeal of replacing outside lift tests with a one-click optimization is clear.

But the product also needs to perform.

Meta cited an average 46% increase in incremental conversions from users who tested Incremental Attribution compared to those who stuck with a business-as-usual campaign.

Leach said Meta hasn’t had much pushback regarding the greater data and controls passed to the AI ad platform.

“They’re much more focused on performance than the particulars about this data,” he said.

IAB：暂停广告成广告主心头好，但用户未必买账

Advertisers love new ad formats, especially on connected TV. Just look at how many platforms announced their own during the IAB NewFronts and TV upfronts last month.

The appeal is obvious. CTV-specific formats show up in places where viewers are less primed to ignore them and often feature interactive elements that can help measure user engagement.

But it’s possible to have too much of a good thing.

For one, there’s no standardization for new CTV ad formats, which creates friction and inefficiency when advertisers are trying to run ads across streaming platforms, said Jill Wittkopp, the IAB Tech Lab’s VP of product, speaking at the Tech Lab Summit in New York City on Wednesday.

That’s why the Tech Lab announced its new “Ad Format Hero” initiative late last year, which is an effort to standardize both the technology and terminology associated with emerging CTV ad formats. The plan is for this to eventually coalesce into official guidance, called the CTV Ad Portfolio, by the end of the year.

In the meantime, though, the Ad Format Hero task force sifted through over 100 different submissions of real ad formats from more than 40 different companies and placed them into eight distinct categories that will be featured in the final CTV Ad Portfolio.

These new categories include:

pause ads

menu and home screen ads

screensaver ads

overlay ads (which, true to their name, appear over content)

in-scene insertion ads (which are supposed to look like part of the content)

content squeeze-back ads (which appear around the content as a frame)

ad squeeze-back ads (which appear around static ad creative)

a catch-all category of immersive or extendable ads

Format and function

According a recent industry survey conducted by the Tech Lab, the results of which were shared at the summit, some ad formats are already more popular than others.

The buy side, for example, has “more enthusiasm for less interruptive formats,” Raymond Holton, senior director of the Tech Lab’s advanced TV division, told attendees. Meanwhile, folks on the sell side were (unsurprisingly!) more interested in formats that boost how many new kinds of ad inventory can be made available to buyers.

There was a clear winner across the board, however: pause ads.

The majority of publishers believe pause ads will scale most effectively with the advent of standardization, while the majority of buyers believe that format will be the easiest to implement, Raymond said. Moreover, both buy-side and sell-side respondents agree that pause ads will likely lead to the greatest increase in ad spend compared to other formats.

Most surprisingly – not because it doesn’t make sense, but because it was unanimous –everyone seems to think pause ads provide the best user experience. That’s just their gut feeling, though. So far, Raymond told me, he hasn’t seen any internal consumer surveys or other quantitative data as evidence that users really do find the pause ads experience to be better than other formats.

Pause and effect

If you’ll permit a brief tangent, the reason I bring up what actual users might think of pause ads is because talking about this particular ad format always reminds me of an ad tech story that I first discovered from a non-ad-industry source.

In August of last year, Marketing Brew reported on a patent Roku filed that would allow it to insert pause ads into content played on any HDMI-connected device, not just streaming platforms. (If this sounds familiar, it’s because AdExchanger mentioned it in our daily roundup newsletter back then.)

A lot of the people I follow online were very pissed off about the possibility that this technology would become real, but none more so than the artists. That’s because it’s common to source reference photos by pausing something you’re watching – if you’re trying to capture a specific pose or draw detailed fan art of a particular character, for example. Inserting ads in that part of the experience can make that practice much more difficult, if not downright impossible.

But this issue aside, standardizing these ad formats will hopefully keep them from being too annoying and disruptive to the viewing experience.

After all, “CTV is as valuable as it is because of the quality of the user experience,” said Raymond. And if advertisers and publishers are going to rely on these emerging ad formats, he added, “we need to do that in a way that ensures that the end user experience doesn’t degrade.”

With that in mind, I have a humble suggestion for the Ad Format Hero task force. Maybe the guidance should include a brief standardized delay before a pause ad pops up so people who want to have enough time to grab a screenshot for artistic and/or meme-making purposes? Just something to consider for the CTV Ad Portfolio later this year.

五、趋势洞察

上市公司抢滩美护赛道

今年“618”大促，美妆品类成为电商平台销售主力军。据多家电商平台数据显示，多个美妆品牌旗下产品销量同比大增。与此同时，医美行业加速技术迭代与产品创新，呈现多元发展新态势。近日，锦波生物、乐普医疗、欧莱雅和珀莱雅等企业动作频频，不断开拓美容护理赛道，激发行业创新活力。业内人士认为，在政策红利持续释放、消费需求不断回暖以及市场信心逐步修复的多重利好因素驱动下，化妆品及医美行业呈现稳中向好的发展态势。

机构：5月中国电视市场品牌整机出货量为283.0万台，同比下降2.1%

洛图科技数据显示，2025年5月，中国电视市场品牌整机出货量为283.0万台，同比下降2.1%。自去年10月“国补”见效以来，连续六个月的出货量均实现了同比增长；而从4月开始，则呈现了连续两个月的同比下降。截至5月底，电视市场的累计出货量为1403.5万台，受益于第一季度的表现，整体较去年同期小幅增长1.7%。

报告：预计2025年新能源渗透率将有进一步提升，单月或将突破60%

懂车帝联合中汽数据发布《2025汽车以旧换新消费洞察报告》。报告指出，政策出台后，报废更新市场和置换更新市场新能源渗透率单月均已突破50%。2025年，受益于政策出台早、覆盖面广，预计新能源渗透率将有进一步提升，单月或将突破60%。