Industry Overview - The eVTOL (electric Vertical Take-Off and Landing) industry is experiencing significant growth, with the low-altitude logistics market in China expected to exceed 100 billion yuan in the next five years [4] - The successful sea transportation of goods using a 2-ton eVTOL named "Kai Rui Ou" marks a critical advancement in low-altitude logistics applications [4] Company Performance - eVTOL concept stocks have seen an average price increase of 17.69% this year, with Meili Technology leading with a 127.4% increase [5] - Notable companies such as Yongyue Technology, Shanhe Intelligent, Ruikeda, Zongheng Co., and Huayi Technology have all reported stock price increases exceeding 60% [5] - Beidouxingtong is expected to turn a profit with a projected net profit of approximately 1 to 1.5 million yuan, driven by demand in emerging sectors [6] - Ruikeda anticipates a significant profit increase, projecting a net profit of 151 to 171 million yuan, representing a year-on-year growth of 132.44% to 163.22% [6] Market Dynamics - The eVTOL industry is transitioning from technology validation to large-scale application, with small drones leading in commercial deployment [4] - Companies like Guanglian Aviation are establishing partnerships within the low-altitude economic industry chain to support drone development and production [5]

（原标题：暴雨、大暴雨、特大暴雨，要来了！） 中央气象台8月4日6时继续发布暴雨橙色预警： 预计，8月4日8时至5日8时，青海东部、甘肃中东部、内蒙古中东部、山西中东部、京津冀、河南北 部、广西大部、广东、香港、澳门、福建南部、云南西部、台湾岛等地部分地区有大到暴雨，其中，北 京西南部、天津南部、河北中南部、福建东南部、广西东部、广东北部和中东部、香港等地部分地区有 大暴雨，河北南部、广西东部、广东北部和中东部沿海等地局地特大暴雨（250～350毫米）。上述部分 地区伴有短时强降水（最大小时降雨量20～50毫米，局地可超过80毫米），局地有雷暴大风等强对流天 气。 预计8月4日12时至5日8时，北京市大部分地区将出现1小时雨量70毫米或6小时雨量100毫米以上的强降 水，其中，房山、门头沟、石景山等区的部分地区6小时降雨量可达150毫米以上，个别点200毫米以 上，山区及浅山区出现山洪、泥石流、滑坡等灾害的风险极高，低洼地区极易出现积水，请注意防范。 来源：中央气象台、气象北京微博 责编：李丹 防御指南： 校对：杨立林 1.政府及相关部门按照职责做好防暴雨应急工作； 2.切断有危险的室外电源，暂停户外作业； ...

Group 1 - Wang Hanqing, former Party Secretary of Central South University of Forestry and Technology, was expelled from the Party and public office due to serious violations of discipline and law [1][2] - The investigation revealed that Wang engaged in academic corruption, embezzled significant research funds, and violated multiple disciplinary regulations, including receiving gifts and engaging in profit-making activities [1][2] - Wang's actions were characterized as severe misconduct, including bribery and embezzlement, with the decision to expel him from the Party and public office approved by the Hunan Provincial Committee [2] Group 2 - Wang Hanqing held various academic and administrative positions, including Vice President of Nanhua University and President of Hunan University of Technology, before becoming the Party Secretary at Central South University of Forestry and Technology in September 2019 [3][4] - He was recognized as a special expert enjoying State Council allowances and was involved in numerous academic publications, with over 230 papers and six academic books published [4]

Market Overview - A-shares experienced slight fluctuations in early trading, with the Shanghai Composite Index, Sci-Tech Innovation 50, and Shanghai 50 showing minor gains, while the Shenzhen Component, North 50, and ChiNext Index saw slight adjustments. Trading volume continued to decline [1] Defense and Military Industry - Defense and military concept stocks surged collectively, with the ground equipment sector index rising over 5% and the aerospace equipment sector index increasing by more than 4%. Indices related to military information technology and military-civilian integration reached historical highs [2][3] - Notable stocks such as Aileda, Lijun Co., Guojijinggong, Changcheng Military Industry, and Aerospace Electronics saw significant gains, with Aileda hitting a 20% limit up [3] Geopolitical Events - Ongoing geopolitical tensions were highlighted by Russia's military actions against Ukraine, including significant strikes on military targets and infrastructure. This situation has contributed to the rising interest in defense stocks [3] - Additionally, the Houthi forces in Yemen announced drone strikes against Israeli military targets in response to recent events at the Al-Aqsa Mosque, further escalating regional tensions [4] Precious Metals Market - The precious metals sector opened strongly, with indices rising over 4% and all stocks in the sector showing gains. Notable performers included Chifeng Jilong Gold Mining, Shandong Gold, and Western Gold [5] - The U.S. labor market data released showed a significant drop in job creation, leading to a decline in U.S. Treasury yields and a sharp drop in the U.S. dollar index, which in turn boosted gold prices. Spot gold prices surged by 2.22%, marking the largest increase in two months [5] - The World Gold Council reported that global gold demand reached a record high in Q2 2023, with total demand increasing by 3% year-on-year to 1249 tons and a 45% increase in value to $132 billion [6] - Central banks globally purchased a net 166 tons of gold in Q2, remaining at historically high levels, with 95% of surveyed central banks expecting to continue increasing their gold holdings in the next 12 months [7]

Core Viewpoint - The company, Southern Black Sesame Group Co., Ltd., is undergoing a potential change in control as its major shareholder, Guangxi Black Five Food Group Co., Ltd., plans to transfer approximately 20% of its shares to a state-owned enterprise in the Guangxi Zhuang Autonomous Region, which may lead to a change in the company's control [2][4]. Company Overview - Southern Black Sesame Group was founded in 1984 and is a large private enterprise focusing on the black sesame industry, integrating research, production, and sales of health products [6]. - The company is recognized as one of the first agricultural industrialization leading enterprises in China and is listed as the first black sesame industry stock on the Shenzhen Stock Exchange [6]. - The company’s headquarters is located in Nanning, Guangxi, with production bases in multiple provinces including Guangxi, Anhui, Hubei, and Zhejiang [6]. Product and Market Strategy - The company offers a variety of products including black sesame paste, drinks, and health foods, targeting the aging population and health-conscious consumers [6]. - The brand "Southern Black Sesame Paste" is well-known in China and has been popular for over thirty years, while the company has launched a high-end health black sesame paste product in 2023 [6]. - The company is also focusing on the beverage sector, promoting ready-to-drink black sesame products and collaborating with traditional medicine research institutions to develop health drinks for the elderly [7]. Financial Performance - In 2024, the company reported a revenue of 2.465 billion yuan, a decrease of 7.92% year-on-year, attributed to strategic adjustments aimed at improving quality and efficiency [8]. - The net profit for the same period was 77.74 million yuan, showing a significant increase of 80.46% year-on-year [8]. - For the first quarter of the current year, the company achieved a revenue of 442 million yuan, down 3.74% year-on-year, with a net profit of 2.25 million yuan, a decline of 29.61% [8]. Stock Performance - As of August 1, the company's stock price increased by 4.81%, closing at 6.54 yuan per share, with a total market capitalization of 4.928 billion yuan [9].

Core Viewpoint - The company Black Sesame (000716) is planning a change in control, leading to a temporary suspension of its stock trading starting August 4, 2025, until further announcements are made [1] Company Overview - Black Sesame is engaged in the research, production, and sales of health-focused food products, as well as providing one-stop e-commerce services [1] - The main product lines include black sesame paste, drinks, rice, and coarse grains, with a notable product being the only health food-marked black sesame paste in China [1] Financial Performance - In 2024, Black Sesame reported a revenue of 2.465 billion yuan, a year-on-year decrease of 7.92%, attributed to a strategic shift towards quality and efficiency, resulting in the reduction of low-performing e-commerce operations [1] - The net profit for 2024 was 77.7376 million yuan, showing a significant year-on-year increase of 80.46% [1] - For the first quarter of this year, the company achieved a revenue of 442 million yuan, down 3.74% year-on-year, with a net profit of 2.2511 million yuan, reflecting a decline of 29.61% [1] Market Conditions - The company has noted increased competition in its market, with issues such as international brands engaging in price dumping and regional small brands competing on price, leading to product homogenization [2] - The decline in revenue from third-party brand e-commerce operations is primarily due to the company's strategic focus on high-margin brand operations, despite a decrease in overall revenue from this segment [2] - The company plans to continue optimizing its business structure to adapt to market changes and align with its strategic development needs [2]

8月4日，我国债券市场迎来重大政策调整后的首个交易日。 受国债等债券利息收入恢复征税消息影响，国债期货市场不同交割月份的表现出现明显分化，远月合约 价格表现明显较弱。分析人士指出，国债期货市场表现分化，主要由于存量债券（老券）具有税收优 势，新券（新发行国债等债券）与老券的利差可能走阔。 远月合约领跌 8月4日，国债期货市场不同交割月份的表现分化明显。 截至发稿，2025年9月份交割的30年期国债期货价格上涨0.34%，2026年3月份交割30年期国债期货价格 的涨幅为0.13%，相对较弱。2025年9月份交割的10年期国债期货价格上涨0.10%，而2026年3月份交割 的10年期国债期货价格下跌0.21%。5年期、2年期国债期货不同交割月份的合约价格同样出现明显分 化。 2024年在宽货币环境下，国债到期收益率总体呈现出下行趋势，除了"9·24行情"曾引起债券市场脉冲式 调整，全年几乎呈现出单边下行趋势。在此情况下，30年期国债期货2024年上涨了17.77%，10年期国 债期货2024年的涨幅也达到5.92%。2025年初，债券市场继续走牛，但随后保持震荡走势。 在目前这个阶段恢复征收国债等债券利息收入的 ...

Group 1: Military Industry Surge - The military sector in the A-share market experienced a significant surge, with the defense and military industry index rising over 2% [3] - Notable stocks included Aileda and Kesi Technology, both reaching a 20% limit up, while Beifang Changlong increased by over 17% [3][4] - Other stocks such as Lijun Co., Tianjian Technology, Great Wall Military Industry, and Aerospace Electronics also hit the limit up [3][5] Group 2: Gold Price Increase - International gold prices rose, leading to a notable increase in domestic gold futures, which saw a peak increase of over 1.4% [6] - Gold-related stocks and ETFs in the A-share market also surged, with multiple stocks like Chifeng Gold and Shandong Gold rising by over 5% [6] Group 3: Hong Kong Market Movements - In the Hong Kong market, Li Fung Group saw a dramatic increase, with intraday gains exceeding 60% before narrowing [2][11] - The surge was attributed to a share redemption agreement announced by the company, which is expected to improve its financial position and reduce debt [11][12]

Market Overview - The A-share market opened lower on August 4, but the Shanghai Composite Index managed to turn positive by the time of reporting [1] - The Hong Kong market also saw the Hang Seng Index and Hang Seng Tech Index open lower but later turned positive [4] Sector Performance - Gold and media sectors showed strength against the market trend, while most sectors like CPO, computing power, and AI experienced pullbacks [2] - Banking stocks collectively strengthened during the session, with notable gains from Qingdao Bank (up 4.16%), Shanghai Pudong Development Bank (up 3.25%), and others [2][3] Banking Sector Highlights - Qingdao Bank led the gains among banking stocks with a price of 5.01, while other banks like Agricultural Bank of China and Industrial and Commercial Bank of China also saw increases [3] Data Center and AI Sector - The data center power concept saw a rise, with Jianghai Co. hitting the daily limit and Kexin New Energy rising over 10% [6] - The rapid development of the AI industry is expected to enhance the penetration of HVDC technology in data centers, presenting growth opportunities for companies with mature HVDC products [8] Robotics Sector - The robotics sector remains strong, with companies like Zhongma Transmission and Dongjie Intelligent hitting daily limits [8] - The World Robot Conference scheduled for August 8-12 in Beijing will showcase over 1,500 exhibits from more than 200 domestic and international robotics companies [8] Gold Sector in Hong Kong - Gold stocks in Hong Kong showed significant gains, with Tongguan Gold rising over 6% and Chifeng Gold up over 5% [11] - The weak U.S. non-farm payroll data for July, which added only 73,000 jobs, has raised expectations for a potential interest rate cut by the Federal Reserve, boosting demand for safe-haven assets [11] Semiconductor Sector - The semiconductor sector also performed well, with Huahong Semiconductor rising nearly 5% and SMIC up over 2% [11] - The global silicon wafer shipment volume is projected to increase by 9.6% year-on-year in Q2 2025, indicating a positive trend in the semiconductor industry [11]

展望未来，推动"人工智能+"行动向纵深演进，需要进一步拓展人工智能技术在全行业、全场景的应 用，鼓励向制造、农业、交通、医疗、教育等传统领域渗透，围绕制造业转型升级、农业生产效率提 升、城市精细化治理、重大疾病防治等经济社会发展的痛点、难点，开发"用得上、用得好、用得起"的 AI解决方案。在不同的细分领域，应探索AI技术在研发、设计、生产、管理、服务等各个环节的全流 程、全链条融合，真正实现从"单点智能"向"系统智能"的跃升。此外，还需强化生态协同，夯实算力网 络、数据资源等基础设施建设，为AI落地应用提供更强支撑。 推动人工智能化"盆景"为"风景"、化"亮点"为"底色"，要求我们超越对技术本身的迷恋，回归"技术为人 服务、为发展赋能"的本质。相信只要牢牢牵住应用这个"牛鼻子"，通过海量、多元、真实的场景锤炼 技术成熟度，依托庞大市场形成数据飞轮效应，利用完备产业链实现技术快速迭代与成本优化，我们将 在全球人工智能竞争中走出一条以应用牵引创新、以规模驱动普惠的中国道路。 责编：李丹 校对：杨立林 （原标题：时报观察丨牵住应用"牛鼻子" 推动人工智能化"盆景"为"风景"） 核心策略是牵住应用这个"牛鼻子"，让人 ...