3月24日，中国金茂（00817.HK，以下简称"公司"或"金茂"）发布2025全年业绩报告。报告期内，公司全面实现高质量增长。签约销售金额1135亿元，同比 增长16%；行业排名升至第8位，创历史新高。盈利方面，全年毛利92.21亿元，同比增长7%，整体毛利率升至16%；股东应占利润（含投资物业公平值损 益）12.53，亿元，同比增长18%。 业绩会上，中国金茂董事长陶天海先生表示，虽然当下市场仍在筑底，但结构性机会依然存在，对具备优秀产品力的公司而言，机会大于挑战。中国金茂既 对市场保持理性，也有信心在新的一年里取得新的业绩。公司2026年销售规模将继续保持稳中有升。 中国金茂管理层出席业绩会 产品热销:住宅平均签约单价上升24%至2.7万/㎡ 2025年，中国金茂坚持产品创标，在新房销售市场走出逆势提升的独立行情。在TOP10房企签约销售金额同比降幅16%的背景下，中国金茂销售金额逆势提 升16%，创下行业排名历史新高。 管理层在业绩会上表示，2024年推出的"金玉满堂"产品体系持续落地，报告期内6个金茂府、7个璞（玉）系、5个满系、8个棠系项目面市，在多个城市形成 现象级热销，成为支撑销售表现的重要抓 ...

经济观察报记者邹永勤 2026年3月23日，全球铝行业头部企业中国宏桥集团有限公司(01378.HK，下称"中国宏桥")在香港举办 2025年业绩发布会，包括该公司执行董事、副总裁、财务总监张瑞莲等在内的多位公司管理层代表出 席，就铝行业的最新发展趋势、几内亚铝土矿出口政策扰动等市场关心的热点问题进行了回应。 在此次发布会上，中国宏桥的管理层代表对铝价走势表示乐观，认为行业供需紧平衡格局为铝价提供了 强劲支撑，2026年铝价中枢上移确定性较强。 对铝价"非常有信心" 值得注意的是，中国宏桥2025年归母净利润增长率低于营业收入增长率，而作为拳头产品的铝合金产 品，其销量与2024年相比仅仅是持平，这是否预示着该公司的增长引擎已经乏力了？ 对此，该公司执行董事及企业金融主管王雨婷表示，非常看好电解铝行业的增长前景，尤其是铝价的上 涨趋势。首先从供给来看，国内方面，去年的产能已经达到4463万吨，非常接近政策"天花板"的4500万 吨，已经是满产状态；国外方面，近期中东冲突已导致很多铝企业停产，一般而言，从停产到复产的时 间周期需要以年来计算。这意味着，无论是国内还是国外的供给情况，都对铝价提供了比较强劲的支 撑 ...

关于白酒业务的具体操作路径，分管白酒业务的华润啤酒总裁金汉权从五个方面进行了阐述。 3月23日，华润啤酒（0291.HK）发布财报显示，2025年总营业收入为379.85亿元，同比减少1.68%；净利润为33.71亿元，同比减少28.87%。 这是赵春武接棒侯孝海出任华润啤酒董事会主席后的首份年度报告。2025年9月，华润啤酒在港交所公告，执行董事赵春武由总裁调任为董事会主席。在侯 孝海卸任后，赵春武曾暂时承担过渡期间董事会主席的工作及责任。 华润啤酒的业务分为啤酒和白酒两大板块。总体来看，2025年其啤酒业务较稳健，白酒业务拖累业绩。啤酒业务实现营业额约为364.89亿元，同比微增，上 年同期为364.86亿元；白酒业务实现营业额为14.96亿元，同比下降30.39%，上年同期为21.49亿元。 作为华润啤酒的第二增长曲线，该公司在2023年斥资超过120亿港元，收购贵州金沙酒业55.19%股权，正式踏足白酒业务。然而，在白酒行业深度调整期， 金沙酒业的业绩不及预期，华润啤酒在2025年针对白酒业务计提了约28.77亿元商誉减值。 在财报电话会上，赵春武称，年报对白酒业务进行商誉减值，是充分考虑到宏观经济、 ...

以上内容基于公开资料整理，不构成投资建议。 近期事件：公司计划于2026年3月31日召开董事会会议，主要议程是审议截至2025年12月31日止年度的 全年业绩，并考虑派发末期股息事宜。 经济观察网 中国通信服务（股票代码：00552.HK）近期有以下值得关注的事件： ...

作者 沈建缘 沈建缘/文 日前，在中国家电及消费电子博览会（AWE2026）期间，松下发布了集团新体制下的松下电器株式会社中国东北亚事业战略及松下家电中国事业战略。松 下集团将于2026年4月正式启动新事业体制。松下集团三大业务中，解决方案领域作为成长引擎，聚焦于具备全球竞争力的解决方案事业，创造集团协同效 应；元器件领域则为高增长收益；智能生活领域作为具备全球增长潜力的事业，代表集团引领松下品牌。原组织架构中，松下电器株式会社旗下生活电器公 司、中国东北亚公司，与松下娱乐·互动株式会社共同组建成新的"松下电器株式会社"。 原中国东北亚公司（CNA）完成使命，正迈向第二阶段的中国东北亚事业（CNAB），在设有大家电、小家电、AVC产品轴业务部门及全球市场营销部门的 架构下，中国东北亚事业隶属于新松下电器株式会社，是其组织结构下唯一以区域为轴、具备跨业务统筹职能的组织，承担引领全球增长的目标。在新事业 体制下，围绕中国市场创新的"产研销"商业闭环从"在中国，为中国"向"在中国，为全球"升级。 松下电器株式会社中国东北亚事业副总裁、智慧生活事业部事业部长林一斌表示："当前中国家电市场需求持续下降、存量市场内卷不断 ...

Core Viewpoint - Li Ning Company Limited reported a steady performance for the fiscal year 2025, with revenue reaching 29.6 billion RMB, an increase of 3.2%, and a gross profit of 14.49 billion RMB, up 2.4%, exceeding market expectations [2] Group 1: Financial Performance - The overall gross margin was 49.0%, and the net profit margin was 9.9%, indicating strong financial health [2] - The company maintained a healthy cash flow with net cash reaching 19.97 billion RMB, an increase of 1.81 billion RMB year-on-year [19] Group 2: Strategic Initiatives - Li Ning signed a partnership with the Chinese Olympic Committee, becoming the official sportswear partner for the 2025-2028 Olympic cycle, which includes major international events [3][8] - The launch of the new store format "Dragon Store" in December 2025 in Beijing represents a significant market activation of this partnership [5] Group 3: Product Performance - The running category continued its strong momentum with a 10% year-on-year increase in sales, making it the largest category for Li Ning, with over 26 million pairs of professional running shoes sold [10] - The badminton category saw a remarkable 30% revenue growth, with sales of over 5.5 million rackets, marking a historical high [10] Group 4: Market Expansion - Li Ning is expanding into the outdoor segment, opening its first independent outdoor store "COUNTERFLOW" and focusing on high-frequency scenarios like hiking and urban commuting [11] - The company is also positioning itself in the emerging sport of pickleball, having secured the naming rights for the "Li Ning Cup" series from 2025 to 2032 [13] Group 5: Brand Development - The collaboration with top-tier sports resources aims to enhance brand recognition and consumer trust in Li Ning as a professional sports brand [6][8] - The company's strategy of "single brand, multiple categories, and multiple channels" continues to drive growth and market presence [19][20]

3月19日，友邦保险（1299.HK）发布了2025年财报，并举行业绩发布会。 友邦保险管理层称，2025年，公司业绩创新高，公司的新业务价值和股东回报都有不错的增长。财报显示，友邦保险的新业务价值上升15%至55.16亿美 元；税后营运利润为71.36亿美元，每股增加12%。 然而在友邦保险的几大主力市场中，2025年中国内地市场成了增长最为缓慢的区域。 财报显示，2025年，中国香港市场、中国内地市场和泰国市场总加权保费收入分别为147.26亿美元、112.72亿美元和53.36亿美元，占比分别为31.4%、 24.0%、11.4%，合计贡献了友邦保险近七成（66.8%）的保费收入。 除了加权保费收入，友邦保险亦着重披露了各市场的新业务情况。年化新保费和新业务价值是观察保险公司当年经营情况的重要指标。年化新保费是指，报 告期内保险公司销售的新保单，按年化后的口径计算的保费收入；新业务价值是指，报告期内保险公司销售的新保单，在整个保单有效期内为股东贡献的经 济价值的折现值。 数据显示，2025年友邦保险的新业务价值增长动能主要来自香港与泰国：香港市场新业务价值大增28%至22.56亿美元，泰国市场增长22% ...

Core Viewpoint - BYD's second-generation fast charging technology claims to charge an electric vehicle in 5 minutes for a partial charge and 9 minutes for a full charge, even in low temperatures, marking a significant advancement in charging efficiency [2] Group 1: Technology Performance - The second-generation fast charging technology was tested in Beijing on February 10, showcasing its performance in winter conditions with temperatures around zero degrees [2] - Eight BYD models participated in the test, with starting battery levels around 20%, charging to 97% capacity [2] - The fastest charging time recorded was 9 minutes and 42 seconds for the Song Ultra model, while the longest was 10 minutes and 22 seconds for the Tengshi N9 model [2][6] Group 2: Industry Impact - The second-generation fast charging technology addresses the common issue of long charging times for electric vehicles, especially in winter when charging efficiency typically decreases [2] - This technology significantly reduces charging anxiety for electric vehicle owners, bringing charging times closer to traditional fuel refueling times [7] - The advancement is expected to promote the growth of the electric vehicle industry, particularly increasing market penetration in northern regions [7]

Core Insights - The first Shanghai Commercial Space Conference and Exhibition was held on March 12, 2026, attracting over 200 core enterprises in the industry chain, with China Ping An as the only invited financial institution to present a comprehensive financial solution for commercial space development [1] Group 1: Industry Growth and Challenges - The domestic commercial space industry is experiencing a golden growth period with a compound annual growth rate exceeding 25%, further accelerated by the government's recognition of aerospace as an emerging pillar industry in the 2026 government work report [1] - The industry faces challenges such as high R&D risks, significant capital investment, and long return cycles [1] Group 2: Comprehensive Financial Solutions - China Ping An introduced the first comprehensive financial solution combining insurance, funding, and capital support to address the three major pain points of commercial space: fear of failure, funding delays, and growth challenges [1][2] - The insurance coverage includes a full lifecycle risk management system for commercial space, addressing risks from R&D to launch and in-orbit operations, ensuring comprehensive protection against core risks [2] Group 3: Tailored Financial Services - Ping An Bank offers customized financial services to meet the funding needs of commercial space enterprises, including project loans and working capital loans tailored for rocket launches and satellite networking [2] - Ping An Securities provides a multi-layered capital service system, including equity, debt, and asset securitization, to support the entire development cycle of commercial space enterprises [2] Group 4: Localized Collaborative Service Model - The service model will be implemented in the Yangtze River Delta, leveraging local resources and creating a collaborative ecosystem involving government, banks, enterprises, and research institutions [3] - China Ping An has been involved in the aerospace insurance sector since the 1990s, providing risk coverage for over 400 satellites and more than 100 rocket launches [3] Group 5: Future Plans - The company plans to continuously iterate its comprehensive financial service system for the entire lifecycle of commercial space, expanding the service model to more industrial clusters across the country [4]

Core Viewpoint - Iranian semi-official news agency Tasnim has identified data centers of major US tech companies like Amazon, Microsoft, and Google in the Middle East as legitimate targets for attacks, alleging that these facilities provide technology to the Israeli military to support war efforts [1] Group 1: Allegations Against Tech Companies - The mentioned tech companies have been accused of varying degrees of providing technology to the Israeli military, although most have denied these allegations [1] - Palantir has publicly acknowledged its strategic partnership with Israel, claiming to assist the country in war-related tasks by providing advanced technology [1]