活动现场，龙岗区与中银资产、深圳市海洋投资管理有限公司签署并购基金合作协议，创新推出创新"1 个区级半盲池基金+N个专项CVC基金"双轮驱动模式，设立全市首个20亿元区级政府引导并购基金。龙 岗金控公司有关负责人介绍："区级并购基金聚焦新一代信息技术等战略新兴产业，采取直投+子基金 方式运作，旨在通过资本运作支持企业并购重组；并支持上市公司发起设立专项CVC并购基金，横向 整合实现规模化发展，纵向整合实现产业链上下游协同，区域内资源整合促进产业集群化建设。"深证 并购基金联盟负责人表示："龙岗并购基金的'先参后并'机制，可实现风险隔离，降低企业并购风险， 大大提升资金使用效率。" 依托48家上市企业、112家国家级专精特新"小巨人"企业资源，建成粤港澳大湾区规模最大的动态并购 标的库。会上，龙岗区现场发布首批27个优质并购标的，涵盖半导体、高端装备、新材料等前沿领域。 爱施德、深圳瑞捷、信宇人等3家上市公司与龙岗区发展改革局签订战略合作框架协议，将获得全周期 并购重组护航保障。龙岗区企业服务中心走访调研发现，大部分龙岗上市公司表示希望通过并购强链补 链、发展壮大，并购资金需求超百亿元，部分公司已经在积极筹划和 ...

李春临介绍，"目前，我们已经建立了全国一体化融资信用服务平台网络，在国家层面实现了包括企业 登记注册、纳税、社保、住房公积金等74项关键涉企信用信息的机制化归集共享，支持接入平台网络的 金融机构经授权查询使用有关信息。" 他指出，截至2025年2月末，银行机构通过全国一体化融资信用服务平台网络累计发放贷款37.3万亿 元，其中信用贷款9.4万亿元，有力服务民营中小微企业融资需求。同时，不少地方在"信易贷"工作中 也探索形成了很好的经验做法。 "下一步，我们将从提升信息共享质效、优化平台服务功能、强化数据应用和产品开发三方面，继续深 入推进'信易贷'工作。"李春临说，提升信息共享质效方面，在持续扩大归集共享范围的同时，进一步 提升信息归集共享质量，确保共享信息内容准确、字段完整、更新及时；优化平台服务功能方面，将提 升平台的综合金融服务能力，依托平台为企业提供更为丰富的金融产品，向金融机构提供信用报告和信 用评价服务，推动惠企政策通过平台在线办理，对经营主体直达快享；强化数据应用和产品开发方面， 建立了国家信用信息归集加工联合实验室，深化关键信息开发利用，支持金融机构开发更多符合民营中 小微企业特点的信贷产品， ...

Core Insights - The潮玩 industry is experiencing explosive growth, with 泡泡玛特 International Group reporting a revenue of 13.04 billion RMB in 2024, a year-on-year increase of 106.9%, and an adjusted net profit of 3.4 billion RMB, up 185.9% [1] - The number of潮玩-related enterprises in China has reached 20,800 as of March 2024, with an average annual registration growth rate exceeding 30% over the past decade [1] - The潮玩 market in China was valued at 47.8 billion RMB in 2022 and is expected to surpass 70 billion RMB by 2025 [1][2] Industry Trends - The潮玩 sector is diversifying, with products ranging from blind boxes to art toys, appealing to younger demographics, particularly the "Z generation" [1] - Original IPs like 泡泡玛特's Molly and FARMER BOB are creating strong fan bases through storytelling and limited releases, while collaborations with film, gaming, and luxury brands are becoming common [2] - The demand for high-quality cultural and creative products is evident, as seen by the over 10 million searches for merchandise related to the film "Nezha" on Taobao [2] Regional Development - Shenzhen is the largest toy production base in China, housing over 3,000潮玩 companies, which accounts for 14.4% of the national total [3] - The Shenzhen government is supporting the cultural and creative industries through special funds and the establishment of潮玩 industrial parks, enhancing the industry's influence through events like the Shenzhen International潮玩展 [3] - The shift from OEM production to self-branded output is notable, with original IP licensing revenue increasing by 80% in 2023, and the industry is projected to exceed 50 billion RMB in annual output value within three years [3]

据同花顺数据统计，截至一季度末，南下资金持股比例超过10%的个股382只，超过30%的个股119只， 超过50%的个股26只，超过60%的个股10只。其中，持股前三名分别为中国电信、凯盛新能、京基金融 国际，持股比例均超过60%。持股比例最高的是中国电信，最新持有102.10亿股，占港股已发行股份的 73.57%。 今年一季度，南下资金增持比例超过3%的个股103只，增持比例超过5%的个股42只，超过10%的个股12 只，增持比例前三名分别为黑芝麻智能、优必选、速腾聚创，增持比例介于21.91%至16.26%之间。 从增持股数来看，今年一季度，共有74只港股被南下资金增持超过1亿股，35只港股被南下资金增持超 过2亿股，10只港股被南下资金增持超过5亿股。其中，中国银行、工商银行、农业银行被增持股数位居 前三名，增持股份数量介于34.99亿股至16.94亿股之间。 【深圳商报讯】（记者钟国斌）今年以来，南下资金开启"买买买"模式，3个月爆买超4000亿港元。据 同花顺数据统计，今年一季度，南下资金净买入4386.53亿港元，刷新季度净买入额新高，较去年同期 大增近5倍。自开通以来，南下资金累计净买入额突破4. ...

【深圳商报讯】（记者詹钰叶）随着中泰证券2024年年报的发布，其控股子公司中泰证券（上海）资产 管理有限公司（即中泰资管）去年经营情况亮相。中泰资管去年营收、净利双双下滑，其中净利同比大 幅下降近80%，资产管理业务规模也下滑近14%。 根据中泰证券2024年年报，至2024年12月31日，中泰资管总资产为119792.59万元，净资产83629.99万 元。2024年全年，中泰资管实现营业收入46326.32万元，较上年同比下滑18.2%；净利润4767.09万元， 同比大幅下降78.57%。年报提到，2024年中泰资管手续费收入减少，销售费用等增加。 年报数据还显示，至2024年年末，中泰资管资产管理业务规模为1051.19亿元，较2023年年末减少 13.89%。其中，公募基金业务规模为439.54亿元，专项资产管理规模为61.74亿元，均同比实现增长。 而单一资产管理规模为337.82亿元，同比大幅减少38.27%；集合资产管理规模为212.08亿元，同比减少 9.8%。 同花顺数据显示，中泰资管最新公募资产管理规模为441.72亿元，在同业200余家机构中排名第87位。 其中，1只货币型基金规模为5 ...

基础研究对于拓展人类认知边界、主导国际竞争格局、促进经济社会发展等各方面都有重要意义，但目 前，基础研究存在实验数据难以标准化、研究思维受局限、实验室与产业化脱钩等困境。如何用AI为 基础研究疏通"堵点"？中国科学院院士，北京大学党委常委、副校长、深圳研究生院院长张锦在题为 《AI4S：中国人工智能的发展之路》的主旨演讲中表示，AI可以通过数据、模型、算力的深度耦合， 数据+知识双驱动，实现端到端的材料开发三种范式，推动基础研究。 张锦：善用AI，为基础研究插上翅膀 人工智能（AI）作为引领新一轮科技革命和产业变革的战略性信息技术，现已成为驱动科技创新、经 济发展、社会进步和民生改善的重要力量。但是，很多人担心AI的迅猛发展会打开"潘多拉的魔盒"，渐 渐失控。如何积极地拥抱AI浪潮，让AI更好地赋能千行万业？在日前举行的北大深圳论坛2025上，专 家学者从科技、经济、社会发展的各个方面"把脉"AI，为AI生态的健康构筑建言献策。 而对在这一轮科技浪潮中走在前沿的高科技公司，李扬建议要对其进行更严格的监管，特别防止少数公 司垄断市场，限制他们过度控制市场和用户的数据。同时，"不能让技术决策只掌握在少数精英阶层手 ...

Core Viewpoint - Xiwang Food reported a significant decline in revenue and an increase in net loss for the fiscal year 2024, marking the third consecutive year of losses for the company [1][2]. Group 1: Financial Performance - The company achieved a revenue of 4.972 billion yuan in 2024, a year-on-year decrease of 9.43% [1]. - The net loss attributable to shareholders expanded to 444 million yuan, a staggering increase of 2530% compared to a loss of 16.87 million yuan in the previous year [1]. - Over the past three years, Xiwang Food has accumulated losses exceeding 1 billion yuan [1]. Group 2: Business Segments - The edible oil segment generated revenue of 2.253 billion yuan, down 5.55% year-on-year, continuing a downward trend from 3.155 billion yuan in 2021 to 2.385 billion yuan in 2023 [1]. - The nutrition supplement business, which became a significant revenue source after the acquisition of Aowei Te in 2016, saw a revenue decline of 9.98% to 2.248 billion yuan in 2024, failing to recover from its peak of 2.964 billion yuan in 2018 [2]. Group 3: Impairment and Costs - The company recorded an asset impairment provision of 868 million yuan for 2024, including 715 million yuan for intangible assets and 148 million yuan for goodwill [2]. - This impairment will reduce the net profit attributable to the parent company by 522 million yuan for the fiscal year [2]. Group 4: Market Challenges - Xiwang Food attributed the revenue decline to intensified market competition and changes in the overall market environment, particularly in the edible oil sector [2]. - Despite growing demand for health-oriented and functional products, the company faces fierce competition and the need for continuous product innovation to maintain market share [2]. Group 5: R&D and Strategic Initiatives - The company's R&D expenditure for 2024 was only 37.61 million yuan, halved from 75.42 million yuan in 2023, attributed to changes in technical research methods [3]. - To address challenges, Xiwang Food is leveraging its parent company, Xiwang Group, to establish a complete industrial chain and expand its marketing network through a combination of modern and traditional channels [3]. - The company is also focusing on enhancing brand visibility through celebrity endorsements and social media, as well as targeting international markets like China, India, and Australia for growth [3]. Group 6: Market Position - As of April 2, the stock price of Xiwang Food was 2.76 yuan per share, with a total market capitalization of 2.979 billion yuan [4].

AI时代到来，机构媒体也迎来了前所未有的挑战。 信息过载、内容同质化，AI能够快速生成部分标准化内容，如体育简讯、财经数据报道等，这对媒体此类基础内容创作构成竞争压力。同时，在技术更新 上，AI技术将其融入媒体内容生产、分发和管理的各个环节，需要投入大量资金和人力，这对资源有限的媒体机构来说成为较大的负担。 但同时，AI时代也给媒体的内容生态带来机遇。媒体如何应对AI挑战，又如何抓住新的发展机遇？ 日前，《财中社》主办的"智媒未来"新媒体时代创新与共赢主题沙龙在北京举行。国内8家知名媒体总编辑及相关负责人探幽烛微，分享洞见；同时也邀请 到企业代表参与其中，一起深度研判、探讨。 参与讨论嘉宾： 舒桂林 深圳报业集团读创客户端负责人兼《财中社》社长 田 华 网易传媒副总裁 刘灿国 中国经济传媒协会副会长、传媒茶话会创始人 邱小敏 新华网编委 岳才勇 新浪党委副书记、新浪财经副总编辑 郭宏超 经济观察报副总编辑 虞 伟 21世纪经济报道总裁 薄红恺 微博执行总编辑、总编室主任 韩信愈 尚赫公司公关部负责人 AIGC时代，财经专业素养依然是最宽的护城河 薄红恺（微博执行总编辑、总编室主任）：微博2024年接入相关人工 ...

Core Viewpoint - The financial performance of Jin Jiang International Hotel Co., Ltd. for the year 2024 shows a decline in both revenue and net profit, primarily due to the underperformance of its limited-service hotel segment and increased operational costs [4][5]. Financial Performance Summary - The total operating revenue for 2024 was 14.063 billion yuan, a decrease of 4.00% compared to 2023 [2][4]. - The net profit attributable to shareholders was 911 million yuan, down 9.06% year-on-year [2][4]. - The net profit after deducting non-recurring gains and losses was 539 million yuan, reflecting a significant decline of 30.32% [2][4]. - Basic earnings per share were 0.8535 yuan, representing an 8.83% decrease from the previous year [3][4]. Cash Flow and Asset Management - The net cash flow from operating activities was 3.562 billion yuan, a decline of 31.00% compared to 2023 [2][4]. - The net assets attributable to shareholders decreased by 7.61% to 15.409 billion yuan by the end of 2024 [2][4]. - Total assets were reported at 46.110 billion yuan, down 8.85% from the previous year [2][4]. Business Segment Analysis - The limited-service hotel segment, which is the main revenue driver, experienced a decline in revenue, average daily rate, and revenue per available room (RevPAR), indicating a contraction in market demand and intensified competition [5][6]. - Conversely, the full-service hotel segment showed growth in management fee income, benefiting from high-value services and management output models [5][6]. Strategic Direction - The company is shifting its strategy from expansion to optimizing existing assets, aiming to improve revenue structure by increasing the proportion of mid-to-high-end hotels [6]. - Despite maintaining cash dividends to signal stable cash flow, concerns about debt repayment capacity remain, as indicated by the asset-liability ratio and liquidity ratio [6].

Core Viewpoint - Zhang Xiaoqin Group, a time-honored brand with nearly 400 years of history, is facing a severe debt crisis, with total execution amounts exceeding 3.8 billion yuan [1][2] Debt Crisis - The company has recently been listed as an executed party with an execution amount of 3.13 billion yuan, bringing the total executed amount to over 3.8 billion yuan [1] - The debt crisis stems from the aggressive expansion strategy of its controlling shareholder, Fuchun Holdings Group, which has invested heavily in non-core business areas like logistics and real estate, leading to a strained cash flow [1] - As of March 2025, 99.9% of Fuchun Holdings' shares in Zhang Xiaoqin have been pledged or frozen, with overdue financing principal amounting to 510 million yuan and unfulfilled external guarantees reaching 4.486 billion yuan [1] Restructuring Efforts - On March 25, the Fuyang District Court decided to initiate a pre-restructuring process for Fuchun Holdings, aiming to isolate risks and prevent the crisis from affecting the listed company [2] - If the restructuring fails, Fuchun Holdings' 48.72% stake in Zhang Xiaoqin may face disposal, potentially leading to a change in control of the listed company [2] Management Changes - In May 2024, Zhang Xiaoqin underwent a management reshuffle, with former chairman Zhang Zhangsheng stepping down and being replaced by Zhang Guobiao's son, Zhang Xincheng, while Zhang Zhangsheng's son, Zhang Xinyao, became a director and deputy general manager [2] - This personnel change is interpreted as a family response to the crisis but raises concerns about the stability of corporate governance [2] Brand Reputation - Zhang Xiaoqin has faced challenges to its brand reputation, including the "cutting garlic knife incident" in 2023, which led to public backlash and subsequent inclusion in the Ministry of Commerce's "rectification list" for time-honored brands [2] - The company's stock price has significantly declined from 38.16 yuan at its IPO in September 2021 to a low of 8.32 yuan in February 2024, resulting in a market value loss of approximately 4.6 billion yuan [2] Future Uncertainty - As a national brand founded in 1628, Zhang Xiaoqin is currently grappling with not only financial difficulties but also a crisis of brand trust, leaving its future development highly uncertain during the critical period of its controlling shareholder's restructuring [2]