我们的少年时代

耐克终身合同比夺冠还难？NBA仅有3人达成，科比为何没能拿到？_我的网站

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    Visitors interact with a robot from Unitree Robotics during the sixth China International Consumer Products Expo (CICPE) in Haikou, south China's Hainan Province, April 14, 2026. (Xinhua/Gao Jing)Foreign financial institutions are finding a stronger investment case in China's hard-tech industries as breakthroughs in AI, semiconductors, and advanced manufacturing are driving more exports, higher earnings, and growing interest from global investors.
China's high-tech exports surged over 50 percent year on year in July, well ahead of the 17.8-percent growth in total exports, customs data showed. The export gains are being mirrored in investment flows, with foreign funds moving into Chinese technology stocks and global indices adding newly listed hard-tech companies.
Rob Subbaraman, head of global macro research and co-head of global markets research at Nomura, said China's low-cost and abundant electricity supply, growing talent pool and early lead in physical AI are driving the rapid development of its AI industry chain.
China's development of open-weight models could accelerate their adoption by businesses, allowing productivity gains from AI as a general-purpose technology to spread more quickly across the economy, he said, citing models from Chinese firms including DeepSeek and Moonshot AI.
"The lower cost of these models was another advantage," he said, adding that the benefits could extend beyond China, particularly to emerging markets that could adopt cheaper Chinese AI models.
China's strength in advanced manufacturing has also become increasingly evident, said Robin Xing, chief China economist at Morgan Stanley, pointing to China's roughly half share of global installed new energy storage capacity and the rapid growth in outbound licensing deals for innovative drugs. These trends, he said, underpin the long-term investment case for China's hard-tech sector and leading manufacturers.
These strengths are increasingly being reflected in foreign investors' allocation decisions. This year, Goldman Sachs has twice raised its 12-month target for the CSI 300 on improving earnings momentum, and retained an overweight view on Chinese equities.
Kinger Lau, chief China equity strategist for Goldman Sachs Research, said the bank's positive view reflected improving earnings momentum, favorable macroeconomic and liquidity conditions. A-share equities offered international investors diversification benefits that remained underappreciated, along with attractive exposure to hard-tech and AI themes, he added.
Individual companies are drawing overseas interest too.
ChangXin Memory Technologies surged 465.82 percent on its debut on Shanghai's STAR Market last month, reaching a market capitalization of more than 3.2 trillion yuan (about 471.28 billion U.S. dollars).
U.S.-based Tema ETFs made the chipmaker a top holding at a 10.56 percent weight on its debut day, while MSCI officially added it to its China All Shares Index on Monday under a fast-track rule for large IPOs.
Robotics is where the enthusiasm is most visible. Unitree, set to become China's first mainland-listed humanoid robot maker, priced its Shanghai IPO at 150.8 yuan a share, representing 10 percent of its post-offering share capital. The offering is expected to raise about 6.1 billion yuan in gross proceeds.
That optimism, however, exists alongside broader economic pressures. Nathan Chow, senior economist at DBS Bank, said the imbalance between relatively strong supply and weak demand remained pronounced, with household consumption and some companies' profitability still under pressure.
Investment in infrastructure could help offset the weakness in private investment in the near term, while lowering logistics and energy costs and improving the efficiency of resource allocation over the longer term, Chow said. It could also strengthen supply chains and reduce the economy's exposure to external shocks and geopolitical risks, he added.
The implementation of policy measures would be key to sustaining the recovery in the second half of this year, analysts noted.
Economic management requires both easing the brakes and stepping on the accelerator, said Song Yu, chief China economist at UBS Securities, adding that faster fiscal spending and the use of bond proceeds, additional policy support and better coordination between fiscal and financial policies are needed, alongside measures to remove barriers to household consumption and improve the business environment.
"With stronger policy support and measures taking effect, China's economy is expected to maintain a steady recovery in the second half of the year," Chow said.
。    总冠军，是无数NBA球员穷其职业生涯追逐的竞技最高荣誉。

二 | 但很少有球迷知道，在商业赛场，还有一份代言合约，获取难度甚至高于总冠军，那就是耐克终身合同。         纵观NBA数十年发展历史，能够拿下这份顶级合约的球星寥寥无几，正式达成的仅有三位。就连手握五座总冠军、风靡全球的黑曼巴科比，终究也没能拿到耐克终身合同。不少人心中充满疑惑：总冠军可以依靠团队合力去争取，为何一份球鞋代言合同，门槛却如此之高？乔丹、詹姆斯、杜兰特凭什么脱颖而出，科比又究竟差在了哪里？          球迷经常调侃NBA是“耐克联盟”，联盟大半超级球星身上都印有耐克标识。联盟不少巨星都能拿到数年乃至十余年的高额代言，可终身合同完全是另一个级别。

三 | 普通代言有着明确到期年限，球员退役之后合作就此终止。而终身合同意味着，即便球员告别赛场淡出公众视野，品牌依旧持续支付酬劳，有权长期使用球员的姓名、形象进行商业开发，是伴随球员一生的商业保障。         这份合约从来不只看赛场硬荣誉，更看重全球影响力、文化符号属性、长期商业变现能力，同时还要严格评估球员场外口碑风险。多项条件全部满足，才有可能拿到这份合约。总冠军可以依靠队友抱团争取，但终身合同，必须靠球员自身实打实的商业价值去换取。         第一位拿下这份至高合约的，正是篮球之神迈克尔·乔丹。

四 | 与其说是耐克成就乔丹，不如说是乔丹亲手将耐克推向全球运动品牌的顶峰。八十年代耐克在篮球装备领域并不占优势，新秀时期的乔丹，让耐克赌上重金全力押注。AJ系列横空出世，彻底改写全球球鞋市场格局，为耐克创造数百亿美金营收。         乔丹拿到的并非简单的终身代言，他手握AJ品牌永久分红权，每年光分红就可达两三亿美金。

五 | 要对比来看，乔丹整个球员生涯的全部薪资总和还不到一亿美元，如今单年分红就远超打球时期总收入。即便早已远离球场，只要AJ系列球鞋持续热销，收益就会源源不断，甚至可以惠及后代。

六 | 乔丹用自己的传奇生涯，换来了一份可以世代受益的商业契约。         第二位便是勒布朗·詹姆斯。还未踏入NBA，高中时代的詹姆斯就被耐克看中，签下天价新秀合同。二十余年的职业生涯，詹姆斯坐稳联盟门面，一代又一代签名鞋持续热销，粉丝遍布世界各地。2015年耐克为詹姆斯送上终身合同，他也是历史第一位在现役阶段拿下该合约的球员。         这份合同，不单单是认可他赛场统治力，更是看重其完整的商业版图。球场之外，影视投资、公益事业多点开花，詹姆斯早已不只是一名篮球运动员，更是全球性的文化符号。哪怕未来彻底退役，他的个人故事、签名鞋产品线依旧具备巨大商业潜力，耐克愿意用终身合约绑定这份超级流量。         第三人则是死神杜兰特，很多球迷对此感到意外。杜兰特遭遇毁灭性的跟腱断裂重伤，休养长达一年半，面对这种级别的伤病，绝大多数品牌都会缩减预算、压低报价。但2023年，耐克依旧坚定为杜兰特送上终身合同。

七 |          进入联盟之后，杜兰特输出历史级进攻火力，四座得分王、两座总冠军外加两座FMVP，签名鞋迭代十余代，拥有稳固消费群体。即便经历大伤，复出之后依旧能够维持联盟顶尖水准，外加海外市场不俗人气。

八 | 耐克看重他长久的商业生命力，敢于无视伤病风险，给出这份终身承诺。         聊到这里，很多球迷都会为科比感到意难平。手握五座总冠军，曼巴精神深入人心，赛场实力与精神影响力都属于历史天花板级别。但商业合同不会只参考球场数据。科比早期签约阿迪达斯，后期才转投耐克，和耐克的合作起步本就偏晚。期间又遭遇重大场外风波，给品牌带来巨大舆论隐患，成为品牌方无法忽视的风险点。         虽然耐克为科比推出多代签名球鞋，双方合作长达十余年，待遇已是顶级水准，但品牌始终没有抛出最高等级的终身合约。直至科比意外离世，这份遗憾也没能弥补。这也印证一个现实：赛场伟大，不等于商业层面万事顺遂，商业品牌永远会把风险评估放在重要位置。         总冠军离不开靠谱队友、合适时机，还需要一点运气加成；而耐克终身合同，要求赛场实力、全球号召力、场外口碑、长期商业价值全部在线，几乎不能存在致命短板。

九 |          字母哥、伦纳德、库里等一众MVP、冠军得主，至今都与终身合同无缘，足以见得这份合约有多么稀缺。每一年都会诞生新的总冠军，但耐克终身合同，往往数年甚至十几年才会新增一人。         当然拿到终身合同也并非代表完美无缺，乔丹、詹姆斯、杜兰特同样饱受外界争议，赛场也有输球与遗憾。

十 | 但他们有一个共同点：不只是在赛场打出统治力，更是把自己塑造成文化符号，可以源源不断为品牌创造收益。

十一 |          篮球圈子里，大家习惯用冠军、MVP、得分王这些硬荣誉评判球员高度。

十二 | 而耐克终身合同，则是商业市场给出的另一套评判标准。赛场上的荣誉，属于竞技体育的勋章；商业终身合约，代表市场对个人价值的终极认可。二者没有高下之分，却从两个完全不同的维度，见证一名球员所能抵达的高度。         总冠军可以依靠团队拼搏得来，想要拿到终身商业合约，却要天赋、成绩、人格魅力、时代机遇全部集齐。这也是为什么，它的获取难度，甚至超过一枚沉甸甸的总冠军戒指，球迷朋友们，抛开乔詹杜三人，你觉得还有哪位球星有机会冲击耐克终身合同。

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