沪深两市全天成交额1.74万亿，较上个交易日缩量450亿。全市场超2700只个股上涨。 盘面上，PCB概念、兵装重组板块涨幅居前，算力硬件股午后走强，创新药概念表现活跃，钢铁、煤炭等周期股集体调整。 具体来看，PCB概念股爆发，大族数控、方邦股份、芯碁微装等10股涨停。 影视院线板块全天强势，幸福蓝海、中国电影涨停，上海电影涨超9%，横店影视、华谊兄弟等跟涨。 煤炭、钢铁等资源股调整，柳钢股份、西宁特钢、山西焦煤、郑州煤电等跌超5%。 | 代码 名称 | 涨幅↑ | 现价 | 代码 名称 | 涨幅↑ | 现价 | | --- | --- | --- | --- | --- | --- | | 600121 郑州煤电 | -6.37% | 4.26 | 600117 西宁特钢 | -8.68% | 3.47 | | 000983 山西焦煤 | -6.05% | 7.30 | 601003 柳钢股份 | -8.58% | 6.71 | | 600397 安源煤业 | -5.47% | 6.22 | 600295 鄂尔多斯 | -6.42% | 9.92 | | 601015 陕西黑海 | -5.33% | 3.7 ...

Core Insights - The recent tax data reveals significant trends in personal income tax (PIT) refunds and payments, indicating a shift towards a more equitable tax system in China [2][3] Group 1: Tax Refunds and Payments - Over 100 million taxpayers applied for refunds totaling more than 130 billion yuan, while over 7 million taxpayers declared additional payments of around 48 billion yuan [2] - The number of taxpayers receiving refunds significantly exceeds those making additional payments, suggesting a higher probability of refunds for taxpayers [2][3] - The average refund amount for 2024 is approximately 1,300 yuan, which is notably higher than the average refund of 582 yuan in 2019 and 2020, likely due to increased special deductions [2][3] Group 2: Income Distribution and Tax Burden - The top 10% of earners contribute about 90% of the total PIT, while individuals earning below 120,000 yuan annually typically do not pay taxes after reconciliation [2][3] - More than 70% of individuals with comprehensive income do not pay PIT, and over 60% of those who do pay are subject to the lowest tax rate of 3% [3] - The current PIT deduction system, which includes various allowances and a relatively high threshold, contributes to the low tax burden on middle and low-income groups [3][4] Group 3: Policy Impact on Taxation - The government has focused on reducing the financial burden of child-rearing and elder care through enhanced special deductions, benefiting primarily middle-aged individuals [4] - Recent tax policies have resulted in a reduction of 580 billion yuan in PIT, with specific measures like the exemption of tax on bonuses under 400 yuan and housing tax refunds [4] - The tax authority has actively pursued tax evasion cases, particularly among high-income individuals, with over 360 cases involving online influencers since 2021, recovering over 3 billion yuan in unpaid taxes [5]

Group 1 - The core viewpoint of the articles highlights the optimistic outlook of New Zealand businesses operating in China, with over 90% expressing positive sentiments about the market prospects [1][2][3] - The bilateral trade between China and New Zealand reached 143.39 billion yuan in 2024, with New Zealand exporting 88.35 billion yuan to China, marking a significant trade relationship [2][5] - New Zealand has seen a consistent increase in exports to China, with 31% of dairy products, 61% of timber, and 24% of meat being exported to China in the previous year [2][3] Group 2 - The report indicates that 51% of surveyed New Zealand companies in China expect revenue growth in 2024, with 66% anticipating continued revenue increases in 2025 [3][4] - There is a notable shift in focus towards second and third-tier cities in China, with 62% of respondents optimistic about the market potential in second-tier cities and 48% in third-tier cities [3][4] - The New Zealand businesses are increasingly adopting localization strategies, with 20% of surveyed companies choosing to produce or source products locally in China, reflecting a 13 percentage point increase from 2024 [3][4] Group 3 - The New Zealand-China Free Trade Agreement, signed in 2008, is the first comprehensive trade agreement between China and a developed country, covering various sectors including goods, services, and investment [5][6] - Recent negotiations have focused on the service trade negative list, with significant progress made in the first round of talks held in April 2024 [6][7] - The report emphasizes the importance of policy support, market potential, and business confidence as the three pillars sustaining the economic relationship between China and New Zealand [7]

生态环境部将对已命名的生态文明示范区和"两山"基地开展复核评估，严格动态管理，完善"红黄牌"退 出机制，不断提升示范创建的质量和成色。 自然生态保护司负责组织起草生态保护规划，开展全国生态状况评估，指导生态示范创建。承担自然保 护地、生态保护红线相关监管。组织开展生物多样性保护、生物遗传资源保护、生物安全管理。同时， 承担中国生物多样性保护国家委员会秘书处和国家生物安全管理办公室工作。 正在开展第五次全国生态状况调查评估，国家级自然保护区和生态保护红线，"三北工程"，以及"十四 五"山水工程生态环境成效评估。 在生态环境部今天（28日）举行的例行新闻发布会上，自然生态保护司司长张玉军表示，生态环境部将 持续发挥生态文明示范创建载体平台作用，高标准、高要求、高质量推进生态文明示范创建各项工作。 开展新一批生态文明建设示范区和"绿水青山就是金山银山"遴选。 张玉军介绍，2025年，中央批复保留"绿水青山就是金山银山"实践创新基地和生态文明建设示范区两个 创建示范项目。生态环境部明确了新阶段生态文明示范创建的工作思路，修订了管理规程和建设指标。 同时，为落实为基层减负要求，取消了规划和实施方案的编制，简化申报流程， ...

Group 1: Core Insights - Sleep disorders have become a significant public health issue, with non-invasive brain-computer interface (BCI) technology providing potential for daily intervention in sub-healthy sleep populations, shifting health management from "passive treatment" to "active prevention" [1] - The 2025 Sleep Neuroregulation Medicine Seminar highlighted the transition from traditional symptom management to personalized proactive health management based on real-time neural activity perception and precise regulation [1] - The development of BCI technology for sleep treatment is crucial, as sleep disorders can exacerbate mental health issues like depression and pain, creating a cyclical relationship [2][3] Group 2: Market Potential - The Chinese sleep economy market has grown from 261.63 billion yuan in 2016 to 495.58 billion yuan in 2023, with projections to reach 658.68 billion yuan by 2027, indicating a potential trillion-yuan market [6] - The launch of the "Dream Neighbor" device, a consumer-grade product integrating BCI technology with daily sleep scenarios, aims to provide tools for "precise sleep intervention" and "active health management" [6][7] - The focus on consumer-grade products may enhance public awareness and market recognition, while the development of medical-grade products will target conditions like depression, anxiety, and chronic pain [7]

Core Insights - The State-owned Assets Supervision and Administration Commission (SASAC) is focusing on exploring effective ways for investors to promote technological and industrial innovation, enhancing the "innovation resilience" of central enterprises [1][3] - Central enterprises are encouraged to accelerate the cultivation of new productive forces and shift from "sweat-type growth" driven by substantial input to "wisdom-type growth" driven by technological innovation [1][2] Group 1: Strategic Focus - SASAC emphasizes the importance of strategic orientation and long-termism, balancing traditional and emerging industries while expanding strategic emerging industries and future industries [1][3] - Central enterprises are urged to enhance their technological innovation capabilities and apply these innovations to specific industries and supply chains, transforming traditional industries and nurturing emerging ones [3][4] Group 2: Investment Trends - In 2022, central enterprises completed investments in strategic emerging industries totaling 2.7 trillion yuan, a year-on-year increase of 21.8%, with these investments accounting for over 40% of total investments for the first time [6][7] - In the first quarter of 2023, investments in strategic emerging industries by central enterprises grew by 6.6% year-on-year, with 79 future industry-related enterprises established [7] Group 3: Sectoral Development - Central enterprises are focusing on sectors such as artificial intelligence, quantum technology, and biomanufacturing, aiming to enhance their core competitiveness and development momentum [6][8] - SASAC is promoting a stable growth mechanism for investments in emerging industries, with a focus on high-quality investments that lead to high-value growth [5][7]

Group 1 - The core viewpoint of the article highlights that despite a sluggish domestic gold jewelry consumption in the first half of the year, Lao Pu Gold is experiencing significant growth, with projected sales performance for the first half of 2025 expected to increase by 240% to 252% year-on-year [1] - Lao Pu Gold anticipates achieving sales revenue (including tax) of approximately RMB 13.8 billion to 14.3 billion and a net profit of about RMB 2.23 billion to 2.28 billion for the first half of 2025, reflecting a year-on-year growth of approximately 279% to 288% [1] - The increase in revenue and net profit is attributed to the expanding brand influence, resulting in substantial growth in both online and offline store revenues, as well as continuous product optimization and innovation [1] Group 2 - Lao Pu Gold's stock price has surged from an initial public offering price of HKD 40.5 per share to HKD 1,100 per share, marking an increase of over 20 times, making it one of the best-performing stocks in the Hong Kong market [3] - However, since July 9, 2025, the stock price has been on a downward trend, dropping nearly 4% to HKD 735 [3] - UBS has reported that investor expectations for Lao Pu Gold's 2025 earnings range from RMB 4 billion to 6 billion, indicating a year-on-year growth of 170% to 300%, but these expectations may be overly optimistic due to potential risks such as gold price fluctuations and varying financial performance across stores [3] Group 3 - The ancient method gold market is becoming increasingly competitive, with major players like Chow Tai Fook, Caibai, Chow Sang Sang, and Luk Fook also entering the same product category [4]

23年来他守着身边的工业区拍照，用坏了4台相机，拍下200多万张照片，记录下"中国制造"背后，默默无闻的打 工人的生活常态。 一位从湖北到广东打工的工厂保安，无意间喜欢上摄影。他没钱买好器材，也请不到假去旅行拍炫目的风景。从 2002年买下第一部二手相机起，23年来就守着身边的工业区拍照，用坏了4台相机，拍下200多万张照片，记录 下"中国制造"背后，默默无闻的打工人的生活常态，因此邀请去纽约大学做展览，在国内外摄影大赛中获奖无 数。 如今，已成为摄影师的占有兵，光是与工厂相关的手工书，13年里就做了130多本。今年他有三本书正式出版，其 中一本是《如此打工30年》，讲述从1995年到东莞打工，30年来经历的个人、工厂生活与时代变迁。 做102个俯卧撑找到工作 "东西南北中，发财到广东"，"个个都说广东好，个个都往广东跑"。1995年，驻守在康巴高原的武警战士占有 兵，从妹妹的信中得知一个叫深圳的地方，"这里到处是工厂，电线杆上都贴着招工广告，厂房一幢接一幢，每天 晚上12点工业区还灯火通明，工厂旁边什么都有，大排档、杂货店、书店随处可见"。 几个月后，占有兵跳槽去了另一家酒店，工资翻了将近一番。后来他又经历 ...

相比较而言，弱者恰恰更能进入强者的语境、理解强者的所思所想，反过来却难得多。 今年是麦克白诞辰1020周年，对，就是莎士比亚笔下的那个著名的麦克白；对，他不是莎士比亚虚构出来的悲剧 人物，而是苏格兰历史上真实的君王。有趣的是，去年刚好是《麦克白》的作者莎士比亚诞辰460周年，也是加拿 大传播技术和媒介理论思想家马歇尔·麦克卢汉发表他影响巨大的著作《理解媒介：论人的延伸》60周年。 在这些或虚构或真实的人物、或文学或理论的写作之间有什么内在的勾连？让我们从大卫·格里格（David Greig） 编剧、苏格兰国家剧院和皇家莎士比亚剧团联手排演的《麦克白后传》（原名《邓斯纳恩》，即麦克白最后据守 的城堡Dunsinane，朱生豪译"邓西嫩"）开始——它以莎士比亚的《麦克白》结束之后发生的一系列事件为线索， 从一个非常现代，甚至非常后现代的视角，描绘了11世纪中期英格兰以"恢复和平"的名义入侵苏格兰之后，两者 一同陷入的深深泥潭。 你会发现，整整十个世纪以前发生的事情，其"底层逻辑"，竟然与麦克卢汉率先深入分析的当代媒介社会的运作 机制如此相似。对"人性"来说，或许真的从来没有"进步"可言。 政治 剧作家大卫·格里格 ...

Core Viewpoint - The article discusses the historical development of Shanghai's civilization over 6000 years, highlighting its archaeological findings and cultural evolution from prehistoric times to its status as a modern international metropolis [1][2][6]. Group 1: Historical Development - Shanghai's prehistoric culture began over 6000 years ago, encompassing various cultural phases such as Majiabang, Songze, Liangzhu, Guangfulin, and Maqiao cultures [1][2]. - Archaeological discoveries since 1935 have identified around 40 sites in Shanghai, primarily in the western regions, revealing significant artifacts like pottery, stone tools, and burial sites that provide insights into early Shanghai's cultural and social characteristics [1][6]. Group 2: Cultural Significance - The integration of northern Central Plains culture with local traditions around 4000 years ago led to the formation of Guangfulin and Maqiao cultures, indicating Shanghai's role in the "multicultural" framework of Chinese civilization [2][4]. - The Maqiao culture, dating back to the Xia and Shang dynasties, showcases a rich diversity of artifacts, particularly the duck-shaped pot, which reflects cultural exchanges between regions [4]. Group 3: Archaeological Insights - The article mentions the upcoming exhibition "Starry China: Sanxingdui and Jinsha Ancient Shu Civilization," which will feature artifacts like jade cong, suggesting potential cultural connections between the Longjiang and Chengdu regions despite significant temporal and spatial gaps [4]. - The Qinglong Town site, identified as Shanghai's earliest foreign trade port, thrived during the Tang and Song dynasties, highlighting the city's historical role in international trade long before modern times [6][7]. Group 4: Urban Development - By the Song dynasty, Qinglong Town evolved into a significant port facilitating broader trade networks, which later shifted to Shanghai Town during the Yuan dynasty due to changes in water systems [7]. - The historical narrative emphasizes that Shanghai's identity as a port city has deep roots, contributing to its open, innovative, and inclusive urban character [7].