2024年6月，曾有业内知情人士向第一财经透露，双方已经达成收购的初步共识并处于证监会审批阶 段。如今经过近一年的时间，该事项终于正式落锤。 国内头部公募机构被中东资本"相中"背后，也是近年来外资机构加速布局中国资本市场的趋势显现。瑞 银等机构投资者认为，外资回流或是未来几个月的关键趋势，中国股市估值优势与低配仓位下，港股或 率先受益于长线资金回流。 华夏基金10%股权转让事宜，正在稳步推进。 日前，中国证监会信息显示，核准卡塔尔控股有限责任公司（下称"卡塔尔控股"）成为华夏基金持股 5%以上股东，对卡塔尔控股依法受让华夏基金2380万元人民币出资（占注册资本比例10%）无异议。 "通过一直以来与众多海外投资者的密集沟通，我们深刻地感受到国际市场对中国资产的关注度正持续 升温。"瑞银全球金融市场部中国主管房东明表示，不管是量化基金，还是其他的中长线海外投资者都 很积极地希望能够深度参与中国的资本市场。 中东资本牵手头部公募 在尚未变更股权信息之前，华夏基金的第一大股东是中信证券，持股比例62.2%；外资机构迈凯希金融 公司（MackenzieFinancialCorporation）为第二大股东，持有27.8 ...

本周（5月19日至23日）的五个交易日中，A股三大指数先扬后抑，全周累计下跌。其中上证指数累计 跌0.57%，深成指跌0.46%，创业板指跌0.88%。板块概念方面，医药生物、轻工制造概念股表现活跃。 | | | 聞指数表现 5.19-5.23 | | | | | --- | --- | --- | --- | --- | --- | | 指数 | 周五涨跌幅 | | 周五收盘点数 周五成交额(亿元) | 近一周涨跌幅 | 年初至今 | | 上证指数 | -0.94% | 3348 | 4686 | -0.57% | -0.10% | | 深证成指 | -0.85% | 10132 | 6870 | -0.46% | -2.71% | | 05ERF | -1.35% | 1370 | 272 | -3.68% | 32.01% | | 科创20 | -1.02% | 981 | 187 | -1.47% | -0.84% | | 创业板指 | -1.18% | 2021 | 3129 | -0.88% | -5.61% | | 上证50 | -0.80% | 2712 | 691 | -0.18% | 1. ...

近年来，中国生物医药产业发展进入了一个全新阶段：既保持着高速的研发和临床试验增量，也在由传 统引进向自主创新输出的方向转变发展。 "截至2024年底，全球新启动临床试验总数已达到5300项，其中有30%的试验起源于中国，而美国占比 为35%。更为引人注目的是，中国在全球IDV（体外诊断试验）中占有30%的比重，肿瘤相关临床试验 中高达39%的试验在华开展。"在23日下午举行的"2025国际药物信息大会"——"张江论剑"科创沙龙 上，IQVIA研发解决方案设计和交付创新总裁辛西娅L.弗斯特（Cynthia L.VERST）分享了上述数据。 她认为，这不仅显示了中国在临床试验资源投入的巨大增量，也证明了中国研发和临床推动的速度远超 过去。 Parabilis Medicines首席执行官、总裁兼董事会主席马泰·马门（Mathai MAMMEN）认为，当前全球医药 界面临的重大挑战——绝大多数疾病目前缺乏"真正有效"的治疗方案。全球以及中国的创新工作正集中 于开发分子药，以满足患者日益增长的需求，中国跟全球其他地区相比做了非常多的工作，正因为这种 以"患者需求"为核心的研发策略，中国在某些领域已表现出与全球竞争对手 ...

每次发布财报前，在联想园区里录制一条解读视频是联想集团董事长杨元庆的固定动作。但这次，他的 角色被"数字双胞胎"取代了——AI还原了杨元庆的形象、声音与演讲风格，并解读了联想今天发布的 24/25财年财报数据。 其中第四财季，联想所有主营业务实现双位数营收增长，驱动整体营收同比增长23%达1220.91亿元； 净利润8.92亿元，同比减少42%，公司称主要是由于非现金认股权证公允值亏损所致。 分业务来看，IDG智能设备业务集团去年营收3647亿人民币，同比增长13%。PC之外业务持续成为重要 增长引擎，智能手机业务全年营收同比增长27%，创下并购摩托罗拉移动业务以来历史新高。 今日杨元庆表示，短期内还看不到PC市场增长趋缓的趋势，预计会保持强劲的表现，同时，人工智能 将带动企业及用户升级换代PC，推动平均单价上升。更长远来看，PC市场的需求与宏观经济有关。 得益于AI服务器订单的强劲增长和企业需求的回升，去年ISG基础设施业务集团营收同比增长63%至 1048亿人民币，下半财年实现扭亏。 杨元庆此前说，个人的人工智能双胞胎将成为用户的数字延伸。未来它将比你自己更了解你，模拟你的 思维模式，预测你的需求，甚至在 ...

Group 1 - Jiangsu High合汽车有限公司 (New Joint Venture) was established on May 22 with a registered capital exceeding 143 million USD (over 1 billion RMB), with EV Electra Ltd. holding 69.8% and Huaren Yuntong holding 30.2% [1] - EV Electra Ltd. is a Lebanese startup focused on electric vehicle development and production, aiming to expand its global market presence [1] - The three main models of 高合汽车, HiPhi X, HiPhi Y, and HiPhi Z, are prominently featured on the EV Electra Ltd. website [1] Group 2 - Huaren Yuntong faced severe operational difficulties in the competitive Chinese market, leading to its bankruptcy pre-restructuring in August 2024, with total assets of 5.983 billion RMB and liabilities of 15.781 billion RMB [3] - The court approved the substantive merger restructuring application for Huaren Yuntong and its 52 associated companies due to severe insolvency and the need for equitable creditor repayment [3] Group 3 - In June 2023, a significant agreement worth 21 billion Saudi Riyals (approximately 40 billion RMB) was signed between Saudi Arabia's investment ministry and Huaren Yuntong to establish a joint venture for automotive R&D, manufacturing, and sales [4] - Saudi Arabia aims to promote its domestic electric vehicle manufacturing industry as part of its strategy to diversify away from oil dependency [5] Group 4 - The Saudi Public Investment Fund (PIF) is reportedly negotiating to invest at least 250 million USD in 高合汽车, potentially acquiring equity at a valuation of 3 billion USD [5] - EV Electra Ltd. has recently acquired a well-known Chinese electric vehicle brand and is in the process of acquiring a landmark automotive factory in Italy to enhance its production capacity and market influence in Europe [5]

Group 1 - The core viewpoint of the articles highlights a significant surge in platinum prices, driven by strong investment demand and changing consumer preferences, particularly in China [2][3]. - As of May 22, NYMEX platinum futures surpassed $1,089 per ounce, marking a nearly 10% increase over the week, with a notable rise in investment demand [2]. - The World Platinum Investment Council (WPIC) reports a projected 10% year-on-year increase in global platinum demand to 71 tons in Q1 2025, with investment demand in the platinum sector expected to rise by 28% to 14 tons [2][3]. Group 2 - In Q1 of this year, China's platinum investment demand surged, particularly for investment platinum bars under 500 grams, which saw a 140% year-on-year increase to 1 ton, establishing China as the largest retail investment market for platinum [2]. - Despite a record high in April imports of platinum to China at 11.5 tons, the total platinum imports for the year remain down 31% compared to the same period last year [2]. - The WPIC forecasts a 30% increase in global investment in platinum bars and coins to 8 tons by 2025, with a continued growth expectation of 15% in demand for platinum bars of 500 grams and above in China [3]. Group 3 - The global supply of platinum decreased by 10% to 45 tons in Q1, resulting in a 25-ton shortfall, primarily due to seasonal weakness in mine production [3]. - The WPIC anticipates a 4% year-on-year decline in total platinum supply for 2025, projecting it to be at its lowest level in five years at 218 tons [3]. - Speculative trading trends indicate a recent profit-taking phase, with non-commercial long positions in platinum futures decreasing from 45,800 to 43,000 contracts by mid-May [4].

Core Viewpoint - *ST Yushun's stock price surged over 200% in a month due to acquisition expectations, but the company faces significant financial challenges and has announced a temporary suspension for stock price verification [1][3][5]. Group 1: Stock Performance - From March 31 to May 20, *ST Yushun's stock price increased by 204.18%, with 22 out of 25 trading days resulting in price increases [1][3]. - The stock price rose from 4.51 yuan to 14.54 yuan, marking a total increase of over 200% [1][3]. - The stock's performance outpaced both the ST sector and comparable companies in the manufacturing and electronics industry [3][4]. Group 2: Acquisition Plans - The company announced plans to acquire 100% equity in three companies, which are involved in internet and related services, indicating a strategic shift [4][5]. - A total of 30 million yuan was paid as earnest money for the acquisition, which is still in the planning stage [5]. - The acquisition aims to improve asset quality and profitability, as the company has been struggling with financial losses [5][8]. Group 3: Financial Challenges - As of March 31, the company had a cash balance of 14.5 million yuan and liabilities of 155 million yuan, indicating financial distress [2][8]. - The company has been borrowing from its controlling shareholder, Shanghai Fengwang, to meet operational funding needs [9][10]. - Despite a brief positive net profit in 2023, the company returned to losses, with a net profit loss of 17.57 million yuan in the last reported year [8][11]. Group 4: Audit and Reporting Issues - The company has changed its auditing firm twice in a short period, raising concerns about its financial reporting practices [12][13]. - Prior to the 2024 annual report, the company revised its profit forecast significantly downward, indicating potential issues with revenue recognition [11][12].

（持续更新中……） 17:33 小鹏汽车美股盘前涨超5% 美股三大指数开盘小幅下跌，道指跌0.86%，纳指跌0.73%，标普500指数跌0.67%。热门中概股绩后普 涨，小鹏汽车涨超6%，百度集团涨超2%。科技七巨头多数下跌，英伟达跌1%，黄仁勋称美国对中国 AI芯片出口管制已经失败。亚马逊跌超1%，一些热卖品被紧急召回带来损失。联合健康集团跌近6%， 高管团队动荡业绩预期遭下调。 | 名称 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | | 道琼斯工业指数 | 42316.91 | -360.33 | -0.84% | | 纳斯达克指数 | 19007.55 c | -135.16 | -0.71% | | 标普500 | 5903.70 | -36.76 | -0.62% | 21:15 美股三大股指期货齐跌 道指期货跌0.89%，标普500指数期货跌0.67%，纳指期货跌0.69%。 | 标普500期货小型 | 5920.00 -39.75 -0.67% | | --- | --- | | 纳斯达克100期货小型 21299.50 -147.75 -0.69% | ...

Core Viewpoint - The simultaneous decrease in both loan and deposit rates on May 20 is a rare occurrence, aimed at reducing financial burdens for businesses and residents while also addressing the impact on banks' net interest margins [1][2][3] Summary by Relevant Sections Interest Rate Changes - The 1-year and 5-year LPRs were both reduced by 10 basis points, with the new rates being 3% and 3.5% respectively [2] - Major state-owned banks and some joint-stock banks lowered deposit rates by 5 to 25 basis points, with 3-year and 5-year rates down by 25 basis points [1][2] Impact on Banks - The average reduction in deposit rates exceeded that of the LPR, indicating a protective measure for banks' net interest margins [3][5] - The net interest margin for commercial banks fell to 1.43% in Q1, below the regulatory acceptable level of 1.8% [3][4] - The recent adjustments are expected to improve banks' net interest margins by approximately 7 basis points, positively impacting revenue and profit by around 3% and 6% respectively [5] Future Outlook - The space for further reductions in deposit rates is limited, and banks are likely to focus on controlling costs through internal adjustments and managing deposit structures [1][7] - There is a risk of deposit outflows if lower rates lead to increased reliance on interbank liabilities, which could counteract the benefits of reduced deposit costs [6][7] - The trend of banks not raising rates on 5-year deposits and increasing minimum thresholds for 3-year deposits indicates a shift in strategy to manage costs [8] Housing Loan Adjustments - Some regions have begun adjusting the lower limits for first-home loan rates in response to the LPR changes, aiming to stabilize actual mortgage rates above 3% [8][9]

Group 1 - Moody's downgraded the US AAA credit rating, leading to a decline in US stock index futures and the dollar, while pushing up US Treasury yields [1][2] - The 30-year Treasury yield reached a critical level of 5%, and the dollar index fell below 101, dropping over 0.5% [1] - Despite concerns, some analysts suggest that the recent sell-off in US Treasuries and the dollar is a rare market reaction to perceived fiscal recklessness [2][3] Group 2 - Federal Reserve Vice Chairman Williams noted that there is no significant evidence of large-scale capital outflows from US assets, despite market uncertainties [3] - Analysts from Morgan Stanley and HSBC view the downgrade as a potential buying opportunity, with expectations of a rebound in the S&P 500 index [4][5] - The correlation between stock returns and bond yields has decreased significantly, indicating a potential shift in market dynamics [4]