Core Insights - Shenzhen is enhancing its international business environment by developing a comprehensive payment infrastructure that integrates various payment methods and services to boost its global competitiveness [1] Group 1: Payment Infrastructure Upgrades - Shenzhen has established five one-stop service centers for foreign visitors at key transportation hubs, providing 24-hour services that integrate payment, tourism, communication, transportation, and immigration [2] - The city has achieved a 100% acceptance rate for foreign cards at Shenzhen Airport, with nearly 90% acceptance for digital currencies, and has distributed over 100,000 multilingual payment guides [2][3] Group 2: Consumer Spending Trends - In the first half of 2025, foreign visitors to Shenzhen made 85.88 million transactions totaling 11.81 billion yuan, marking a year-on-year increase of 29% and 35% respectively [3] - Hong Kong residents accounted for 58.66 million transactions worth 7.04 billion yuan, with year-on-year growth of 22% and 25% [3] Group 3: Innovative Payment Solutions - Shenzhen has introduced a new "immediate refund" tax refund service at shopping locations, allowing consumers to receive tax refunds instantly at the point of sale, significantly improving efficiency [4] - The city has expanded payment options in public transport, integrating various payment methods including digital wallets and cross-border payment solutions [4] Group 4: Cross-Border Payment Innovations - The launch of the "Cross-Border Payment Pass" facilitates seamless cross-border transactions between Shenzhen and Hong Kong, allowing users to transfer funds easily via mobile banking [5] - The number of transactions and amounts processed through the cross-border payment system increased by 91.9% and 64.9% respectively in the first half of 2025 [5]

Core Viewpoint - The company, Qimingxingchen, is experiencing a decline in revenue and net profit for the first half of 2025, attributed to external market challenges and strategic shifts in business focus [1][2]. Group 1: Financial Performance - The company expects revenue for the first half of 2025 to be between 1.115 billion and 1.175 billion yuan, a decrease from 1.574 billion yuan in the same period last year [1]. - The anticipated net loss for the parent company is between 103 million and 73 million yuan, an improvement from a loss of 182 million yuan in the previous year [1]. - The net profit excluding non-recurring gains and losses is expected to be a loss between 183 million and 153 million yuan [1]. Group 2: Market and Strategic Factors - The decline in revenue is primarily due to external environmental challenges and adjustments in market demand, with tightened customer budgets leading to structural changes in the cybersecurity market [2]. - The company is focusing on improving the quality of collaborative business with China Mobile, resulting in a reduction of low-margin integration projects, which has led to a decline in related transaction income [2]. - Despite the overall revenue decline, income from self-sourced security products and services from China Mobile has seen significant growth [2]. Group 3: Historical Context and Future Outlook - In 2024, the company reported a revenue of 3.32 billion yuan, a year-on-year decrease of 26.4%, and a net loss of 226 million yuan, a decline of 130.5% [3]. - The company has made significant progress in the research and development of AI security models and plans to apply these technologies more broadly in future products and services [3]. - The first quarter of 2025 showed a revenue of 641 million yuan, a decrease of 30.5%, but the company managed to turn a profit with a net income of 1.6 million yuan, compared to a loss of 113 million yuan in the same period last year [4].

Core Viewpoint - The stock of Fujian Guangshentang Pharmaceutical Co., Ltd. has experienced a significant price increase of over 100% in a span of 10 trading days, raising concerns about potential risks as the company's fundamentals have not changed significantly [1][2] Group 1: Stock Performance and Market Reaction - The company's stock price rose sharply from July 3 to July 16, 2025, with a cumulative price deviation exceeding 100% [1] - As of July 15, 2025, the company's price-to-book ratio was reported at 30.85, significantly higher than the industry average of 2.92 for the pharmaceutical manufacturing sector [1] - The company has warned investors about the risks associated with the stock's volatility and the potential for a price correction [1] Group 2: Financial Performance - The company has reported continuous losses over the past three years, with net profits of -127.40 million yuan in 2022, -348.59 million yuan in 2023, -156.30 million yuan in 2024, and -28.49 million yuan in the first quarter of 2025 [2][4] - The revenue figures for the years 2021 to 2024 were approximately 370 million yuan, 386 million yuan, 423 million yuan, and 441 million yuan, respectively, indicating a gradual increase in revenue despite ongoing losses [4] - The first quarter of 2025 saw a revenue decline of 18.69% year-on-year, with a net profit loss of 94.56% compared to the previous year [4] Group 3: R&D and Future Prospects - The company has announced a fundraising plan of 977 million yuan, with over 60% allocated to the development of two innovative hepatitis B drugs [3] - The innovative drug GST-HG131 has been included in the list of breakthrough therapeutic products, but this does not guarantee market approval or immediate financial impact [2][3] - The company is focusing on transitioning from generic drugs to innovative drug development, which has led to sustained R&D investments and associated losses [4]

稳定币在资本市场上掀起的这波热潮始于5月21日，香港立法会通过《稳定币条例草案》，以在香港设 立法币稳定币发行人的发牌制度。该法例将于8月1日起生效，根据条例，香港金融管理局将开启牌照申 请。香港财经事务及库务局局长许正宇表示，新条例建立的发牌制度将为稳定币相关活动提供适切监 管，为香港稳定币乃至整个数字资产生态的可持续发展奠定基础，这一举措可视作促进香港国际金融中 心地位的里程碑。 6月17日，美国参议院也以68票赞成、30票反对的表决结果通过了《指导与建立美国稳定币国家创新法 案》，又称《GENIUS法案》。这个被称为美国首个稳定币的法案，市场普遍预期，一旦落地将为美国 稳定币产业带来急需的监管明晰，成为推动合规发展和机构入场的重要催化剂。 7月16日，稳定币相关概念股再次"王者归来"。其中，A股稳定币概念股日内震荡回升，金时科技 （002951）走出8天5板，恒宝股份（002104）盘中涨超6%再创历史新高；港股稳定币相关概念股表现 突出，其中，中国三三传媒盘中涨超130%，金涌投资涨幅15.83%；加幂科技涨幅6.74%，其他个股也纷 纷跟涨。 Defillama的数据也显示，目前加密货币稳定币的市场 ...

此外，部分发起式基金如泰康先进材料、申万菱信国证2000增强、国泰智享科技1个月滚动、国泰君安 价值精选、创金合信增福稳健养老一年持有等多只产品已发出了清盘预警的相关公告。 深圳商报·读创客户端记者 陈燕青 今年以来，尽管A股震荡走强，但部分公募权益基金仍然因为规模缩水而清算。根据统计，年内已有50 只主动权益类基金清算，其中不乏发起式基金。 7月15日，中银证券慧泽进取3个月持有正式进入清算程序。这是一只成立于2022年7月7日的发起式FOF 产品，因基金资产净值不足要求而触发自动清盘条件。一季报数据显示，该基金规模仅有0.28亿元，运 营近三年仅比成立时增加不到0.18亿元。 截至7月16日，7月份共有6只主动权益基金进入清算程序。除了国联智选红利股票、海富通优势驱动 外，其余4只基金均是因为"触发基金合同终止"，在无需召开基金份额持有人大会的情况下，基金合同 自动终止并进入清算程序。 上述基金的终止事由各有不同，其中不乏发起式基金。申万菱信专精特新主题发起式、财通资管通达未 来6个月持有混合发起式、中银慧泽积极3个月持有混合发起均为发起式基金，上述基金在各自基金合同 中约定，基金合同生效满3年之日，若基 ...

Core Viewpoint - The shareholders of Sanwei Tiandi (301159) plan to reduce their holdings by a total of up to 3.1475 million shares, representing a maximum of 4.07% of the company's total share capital, between August 6 and November 5 [1] Shareholder Holdings - Beijing Weiheng holds 7,739,050 shares, accounting for 10.01% of the total share capital - Sanwei Zhijian holds 6,449,300 shares, accounting for 8.34% of the total share capital - Chengxian Phase I holds 548,800 shares, accounting for 0.71% of the total share capital - Yafeng Phase I holds 278,200 shares, accounting for 0.36% of the total share capital - The total shares held by these shareholders amount to 15,015,350, which is 19.41% of the total share capital [2] Planned Share Reduction - Beijing Weiheng and Sanwei Zhijian plan to reduce their holdings by up to 232,050 shares, which is 3% of the total share capital - Chengxian Phase I and Yafeng Phase I plan to reduce their holdings by up to 82,700 shares, which is 1.07% of the total share capital - If these shareholders proceed with their maximum planned reductions, they will effectively "liquidate" their holdings in Sanwei Tiandi [3] Financial Performance - Sanwei Tiandi reported a net profit of 0.55 billion in 2021, followed by losses of 0.46 billion in 2022, a slight recovery to 0.08 billion in 2023, and a significant loss of 1.88 billion in 2024 [5] - The company attributes the 2024 losses to intensified industry competition, tightened customer budgets, and increased project implementation costs due to the hiring of high-level consultants and personnel for new software products [8] Market Reaction - As of July 16, the company's stock price fell by 7.27% to 37 yuan per share, with a market capitalization of 2.862 billion [8]

他认为，一是算力，看好受益于AI发展的通信、电子等行业；二是基本面边际改善、股价和估值仍有 修复空间的医药生物。此外，"反内卷"和供给侧逻辑驱动下，电力设备、钢铁等行业值得关注。 深圳新里程（002219）总经理赖戌播表示，上市公司中报业绩行情值得期待。当前A股市场上升趋势良 好，持续兑现的盈利增长承诺，是支撑企业估值中枢稳步抬升的核心。上市公司中报披露季期间，投资 者可挖掘中报业绩持续增长标的。业绩超预期和业绩同比、环比大增标的，有望成为中报业绩炒作主 线；而业绩预减、下修或亏损的公司，后市投资者应以回避为主。他认为，投资者应重点关注前期涨幅 小、估值低，但近期基本面和业绩有明显改善的个股，比如人工智能、半导体、医药生物、华为产业链 等，特别是业绩超预期滞涨蓝筹机会或更大。 光大证券首席分析师张宇生表示，市场即将迎来中报披露高峰期，中报业绩表现较好的行业，在7月至8 月的股价表现通常更好。业绩作为7月至8月市场中重要的增量信息，自然会受到很多投资者的关注。从 历史数据来看，每年7月至8月业绩表现好的行业，取得超额收益的概率相对较高。短期关注中报业绩有 望占优的板块，中长期则重点关注3条主线：内需消费、科技自 ...

据介绍，本次大会以"新质驱动·未来领航"为主题，展现"硬科技底色"。本次大会由深圳市工业和信息 化局、深圳市中小企业服务局指导，长城战略咨询、交通银行、深创投、国信证券、深圳报业集团联合 主办，北京与仁科技服务有限公司、深圳私募基金业协会、深证中小企业服务中心承办。 此外，深创投、深天使、深高新投、深担保、达晨财智、东方富海、基石资本、同创伟业等投资机构将 出席本次大会。而大会设计的"合作洽谈会"等活动，将让创新力量深度对接深圳的产业链资源与政策红 利，实现"落地即加速"的共赢。 期间，《GEI中国独角兽企业研究报告2025》与《深圳市独角兽企业及瞪羚企业研究报告2025》将发 布，通过量化分析与深度洞察，解码独角兽企业的成长密码与产业趋势。 值得关注的是，作为本次大会的东道主，深圳的"独角兽军团"将集体亮相。据了解，深圳是全国"硬科 技"独角兽最活跃的城市之一，深圳独角兽主要集中在前沿科技领域，在集成电路、机器人、3D打印、 清洁能源等赛道表现尤为突出。深圳独角兽的成长轨迹，是一部"从跟跑到领跑"的创新史诗。近些年， 深圳独角兽企业中不乏成功上市的企业，既有优必选、云天励飞等硬科技代表，也有奈雪的茶等新消费 ...

（文章来源：深圳商报） 【深圳商报讯】（记者詹钰叶）在国融添利6个月持有期债券基金宣布发行失败后，今年以来发行"折 戟"的新基金增加至4只。部分中小型公募存在"发行难"问题，业内建议走差异化路线，打造具有特色的 竞争优势。 根据公告，至募集期限届满，二级混合债国融添利6个月持有期债券仍未能满足基金备案条件，基金合 同不能生效。该基金早在去年10月12日便获得证监会准予注册批复，于今年4月启动发行，设置了50亿 元的首次募集规模上限，公司还分别在4月与5月为包括该基金在内的多只基金增加了两个销售渠道。 这是今年以来募集失败的第4只基金，也是年内"折戟"的第2只债基。根据公告，偏股混合型基金申万菱 信远见成长与混合型FOF信澳通合进取三个月（FOF）均在3月15日宣布发行失败，3月1日，纯债基金 兴华兴盛纯债公告称，至募集期限届满仍未能满足基金备案条件，基金合同不能生效。 公开信息显示，兴华兴盛纯债在获批后6个月开启募集，募集期间，兴华基金还新增了多家销售机构。 最终该基金成为今年首只发行失败的新基金，同时也是2023年以来首只发行失败的纯债基金。 受限于基金经理资历、公司规模与品牌影响力等多方面因素，与头部公募 ...

Core Insights - Shenzhen's total electricity consumption from January to June 2025 reached 56.93 billion kWh, marking a year-on-year increase of 4.8% [1] - The electricity consumption in the secondary industry was 26.99 billion kWh, up 2.5% year-on-year, while the tertiary industry consumed 20.95 billion kWh, reflecting a growth of 6.8% [1] - Residential electricity usage was 8.96 billion kWh, showing a significant increase of 7.6% year-on-year [1] Industry Performance - Industrial electricity consumption in Shenzhen totaled 26.01 billion kWh, with a year-on-year growth of 3.0%, indicating steady industrial development and ongoing transformation [1] - The manufacturing sector accounted for 21.09 billion kWh of electricity consumption, also growing by 3.0% year-on-year [1] - Notable growth in specific manufacturing sectors included automotive manufacturing (24.5%), computer, communication, and other electronic equipment manufacturing (11.4%), instrument manufacturing (8.1%), and pharmaceutical manufacturing (6.6%) [1] Tertiary Sector Dynamics - The service sector exhibited robust performance, with the top three sub-industries in electricity consumption growth being wholesale and retail (19.8%), information transmission, software, and IT services (19.8%), and leasing and business services (9.4%) [1] - The electricity consumption in the information transmission, software, and IT services sector reflects the vitality of the digital economy [1] Data Center and AI Development - Shenzhen is accelerating its development as a leading city in artificial intelligence, with data center electricity consumption growing rapidly [2] - The electricity demand from internet and related services surged by 38.2% year-on-year, with internet data services alone increasing by 42.8% [2] - The Shenzhen Power Supply Bureau is actively engaging with customers for energy-saving renovations and enhancing the green electricity share for data centers [2]