据灯塔专业版数据，8月13日，今年暑期档（6月至8月）总票房（含预售）突破90亿元，较去年同期增 长显著，电影市场复苏势头强劲。一张张电影票背后，是历史记忆的传承，是东方美学的复苏，也是中 国电影产业迈向高质量发展的坚实足迹。从暑期档排名前十的影片来看，国产影片共6部，《南京照相 馆》单部影片票房破20亿元，占据整个暑期档票房的四分之一，成功带动暑期档大盘。《浪浪山小妖 怪》《戏台》《长安的荔枝》等10余部影片网络评分集体站上8分。今年暑期档，百花齐放的特征尤为 明显。灯塔专业版数据分析师陈晋认为，这为下半年电影市场释放了良好信号。（经济日报） ...

《BUG》栏目实地探访多家华为线下门店发现，不同门店的做法也不太相同。有门店称，在购机之前 并不需要签署知情同意书，但会提前告知原生鸿蒙系统存在一些软件不适配的情况，如果用户表示同 意，后续拆机使用后就不能再因为软件的适配问题要求退换手机。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 文 | 《BUG》栏目 张俊 在余承东宣布鸿蒙5设备数突破1000万台后，这个安卓和iOS之外的第三大移动操作系统再次迎来了考 验。 用户激增之下，微信、抖音等主流App的功能适配不完善问题也被"无限放大"，部分用户由于不满一些 软件功能缺失而要求退机。更有部分线下门店为了降低退货率，推出了要求用户事先签署知情同意书的 举措。 此外，《BUG》栏目致电多家华为服务中心发现，华为售后低调开放了系统回退服务，可从纯血鸿蒙 回退至兼容安卓的系统版本。 此举或许是一个平衡手机销量和鸿蒙生态的折中办法。 原生鸿蒙生态仍待完善，有用户要求退机 今年3月，首款搭载鸿蒙5正式版的手机华为Pura X发布，随后华为终端全面进入原生鸿蒙时代：5月， 华为发布nova 14系列。随后的6月，华为就宣布nova 14系列销 ...

君实生物（01877）发布公告，上海檀英投资合伙企业（有限合伙）（以下简称"上海檀英"）长期看好 公司的发展，因基金期限与流动性资金安排原因，计划通过大宗交易的方式减持其持有的公司股份数量 不超过 2053.38万股，减持比例不超过公司总股本的 2%。上海檀英为在中国证券投资基金业协会备案 的私募基金，已成功申请适用《上市公司创业投资基金股东减持股份的特别规定》和《上海证券交易所 上市公司创业投资基金股东减持股份实施细则》的减持政策：拟通过大宗交易方式减持的，在任意连续 60 日内减持股份的总数不超过公司总股本的 2%，自本公告披露之日起 15 个交易日后的三个月内进 行。 来源：新浪港股 ...

Core Insights - The company reported a revenue of 3.794 billion yuan for 1H25, representing a year-on-year increase of 13.09%, with a net profit attributable to shareholders of 602 million yuan, corresponding to an earnings per share of 1.52 yuan, up 70.96% year-on-year [1] - In Q2 25, the company achieved a revenue of 2.276 billion yuan, a year-on-year increase of 16.25% and a quarter-on-quarter increase of 50%, with a net profit of 407 million yuan, up 22.75% year-on-year and 109.28% quarter-on-quarter, exceeding market expectations [1] Revenue and Profitability - The company's Q2 gross margin was 38.06%, an increase of 0.2 percentage points year-on-year and 6.0 percentage points quarter-on-quarter, while the net margin was 17.90%, up 0.9 percentage points year-on-year and 5.1 percentage points quarter-on-quarter [1] - The inverter shipment saw strong growth in Q2 25, with approximately 210,000 grid-connected inverters shipped, a quarter-on-quarter increase of 40% [2] - The energy storage segment experienced a significant increase in shipments, with about 68,000 units shipped in Q2, a quarter-on-quarter increase of 79% [2] Business Segments - The energy storage segment's revenue grew by 313.51% year-on-year, primarily driven by commercial storage products, with a gross margin exceeding 50% [2] - The household power generation system generated revenue of 810 million yuan in 1H25, a year-on-year increase of 4.12%, while the new energy power production segment generated 304 million yuan, a year-on-year increase of 0.87% [3] - In Q2, the household photovoltaic power generation achieved revenue of 490 million yuan, a quarter-on-quarter increase of 53%, with a gross margin of 62.7% [3] Forecast and Valuation - Due to the high growth rate and improved profitability of the energy storage business, the company raised its net profit forecast for 25/26 by 9%/7% to 1.2 billion yuan and 1.56 billion yuan, respectively [4] - The target price was adjusted upward by 9% to 75 yuan, corresponding to a P/E ratio of 25/26 years at 25/19 times, indicating a potential upside of 17% from the current stock price [4]

Core Viewpoint - The company reported a robust revenue growth driven by the improvement in core business efficiency, with a revenue of 848 million yuan and a net profit of 196 million yuan for the first half of 2025, marking a 4% and 20% year-on-year increase respectively [2] Revenue and Profit Performance - In the first half of 2025, the company achieved an operating income of 848 million yuan, a 4% increase year-on-year, and a net profit attributable to shareholders of 196 million yuan, a 20% increase year-on-year [2] - The core business of municipal solid waste treatment saw a revenue of 691 million yuan, a 14.81% increase year-on-year, with a gross margin improvement of 1.27 percentage points to 52.57% [2] - The waste treatment volume reached 2.1363 million tons, a 10.07% increase year-on-year, and the heating supply volume was 877,500 tons, a 12.01% increase year-on-year [2] Strategic Initiatives - New operational and acquisition projects contributed significantly, with the Yuxi project achieving profitability in its first month of operation and the newly acquired Jinzhou project turning profitable in its first month post-acquisition [2][3] - The company is executing a "short-term reliance on green energy for optimization" strategy, with the green energy business as a core competitive advantage, achieving a heating supply volume of 877,500 tons, a 12.01% increase year-on-year [2] Expansion and Growth Drivers - The company is expanding its business footprint through both acquisitions and internal development, completing the acquisition of the Jinzhou project and successfully replicating the experience from the Shijiazhuang project [3] - The company has also acquired the Guigang project (1500 tons/day) and the Pingnan project (1200 tons/day) to strengthen its strategic presence in South China [3] - Ongoing projects include the Yuxi project, which commenced operations in May and achieved profitability in its first month, and the comprehensive construction of the Hengyang project [3] Financial Forecast - The company is expected to achieve operating revenues of 1.911 billion yuan, 2.173 billion yuan, and 2.442 billion yuan for 2025-2027, with year-on-year growth rates of 14.93%, 13.69%, and 12.37% respectively [3] - The net profit attributable to shareholders is projected to be 404 million yuan, 487 million yuan, and 550 million yuan for the same period, with year-on-year growth rates of 25.87%, 20.54%, and 13.04% respectively [3]

Group 1 - The core viewpoint of the article highlights the signing of a memorandum of understanding between China and Colombia regarding product safety and quality regulation cooperation [1] - The Chinese side emphasized its achievements in promoting a unified national market and improving national quality infrastructure and safety regulation systems [1] - The Colombian side expressed high praise for China's proposals and looks forward to enhancing communication and coordination mechanisms in relevant fields to ensure mutual cooperation quality [1] Group 2 - The meeting was attended by key officials, including the Director of the Market Regulation Administration of China and the Director of the Colombian Business Regulation Agency [1] - The memorandum aims to inject new momentum into the quality safety of cooperation projects between China and Colombia, leveraging the high-quality development of the Belt and Road Initiative [1] - Both parties aim to implement the consensus reached by their leaders to elevate practical cooperation between the two countries [1]

盈利预测：我们认为24 年下半年收入/利润端基数均较低，收入端24Q4 去库存，利润端主要系：包销诉 讼案计提的预计负债2.54 亿元。我们预计公司25-27 年分别实现收入146.6/148.4/151.1 亿元， 分别同比 +0.1%/+1.2%/+1.8%；分别实现归母净利润12.2/12.5/13.0 亿元，分别同比+9.9%/+2.0%/+3.8%。维持"推 荐"评级。 风险提示：极端天气影响、原材料上涨超预期、竞争环境加剧等。 25Q2 成本端优化延续，毛利率提升，投资净收益下降、税率提升等因素导致Q2 利润率下滑。25Q2 公 司吨成本同比-3.4%（25Q1 同比-1.4%），成本端优化延续，带动25Q2 毛利率同比+0.8pcts 至51.2%。 费用端看：25Q2 公司销售/管理/研发费用率分别同比+0.2/+0.2/-0.1pcts。此外，公司25Q2 投资净收益率 同比-0.4pcts，财务费用率同比+0.1pcts，资产减值损失率同比-0.1pcts。整体看，25Q2 公司营业利润率 同比-0.3pcts 至24.3%。此外，25Q2 公司营业外支出/收入同比+0.2pcts,所得税 ...

毛利率改善报表端持续兑现，叠加价格端表现稳定，盈利能力有所提升。 25Q2 公司实现毛利率26.2%，同比+2.3pcts。我们预计主要系：糖蜜等原材料成本回落影响，叠加25 年 价格端表现较稳定。25Q2 公司销售/管理/研发/财务费用率分别同比+0.1pcts/+0.2pcts/持平/+0.2pcts。 25Q2 公司归母净利率/扣非归母净利率分别同比+0.4pcts/+1.7pcts 至10.5%/9.9%。利润端表现超预期。 盈利预测：我们认为，25H2 公司海外业务有望延续高增。原材料成本利好有望持续在报表端兑现，且 期间费用表现稳定，我们预期净利率有望持续提升。我们预计公司25-27 年实现营业收入 168.9/186.7/205.4 亿元，分别同比+11.2%/+10.5%/+10.0%，实现归母净利润15.7/17.8/19.4 亿元，分别同 比+18.8%/+13.3%/+9.0%。 事件：公司发布2025 年中报，25H1 实现收入79.0 亿元，同比+10.1%，实现归母净利润8.0 亿元，同比 +15.7%，实现扣非归母净利润7.4 亿元，同比+24.5%。对应25Q2 实现收入41. ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 文|《BUG》栏目 闫妍 近日，MUJI无印良品在中国市场掀起了一股"闭店潮"，上海、苏州、烟台、长沙等多地门店相继宣布 闭店。据不完全统计，今年以来该品牌还在济南、武汉等地陆续撤出了多个商业点位。 其中，无印良品世茂工三店也受到了此次"闭店潮"的波及，有网友在社交媒体爆料称，该门店将于8月 31日终止营业。《BUG》栏目实地探访发现，店内已启动闭店清仓活动：当季商品普遍以6-8折促销， 并设有多处特价专区。 一位店员确认了8月底即将闭店的消息。谈及闭店原因，该店员表示，"一开始这边挺盈利的，但后来不 那么盈利了，加上三里屯那边新开了一家店，两家离得太近互相影响，公司就决定关闭我们这家了。" 对于上述消息，《BUG》栏目向MUJI无印良品官方进行求证，对方表示，"个别的闭店只是MUJI基于 经营效率进行的正常调整，面对部分商圈人流下降的挑战，MUJI会对经营效益不佳的门店做出取舍。 MUJI中国目前坚持每年开40家左右门店，3月1日至今MUJI新开了15家店铺。" 全国多门店宣布关闭，已开启最后清仓 近日，MUJI无印良品在中国市场掀起 ...

中金公司表示，在全球成熟宠物经济市场，宠物医疗往往承接宠物食品开启宠物经济第二成长曲线，呈 现高壁垒、高盈利、数量可加密的特征。我国宠物医疗在经历了过去几年资本洗礼之后，正在回归更精 湛的诊疗技术、更专业的诊疗体系、更合理的商业模式和更健康的扩张节奏，宠物医疗龙头蓄势待发。 ...