当天，中国证监会主席吴清在国新办发布会上表示，加强双多边的跨境监管合作，塑造稳定、透明、可 预期的监管环境，维护企业在境外市场的正当利益，支持优质中概股回归内地和香港市场。 中概股回流潮或已开启 极氪拟从美股退市，中概股回流潮正在开启。 5月7日，吉利汽车控股有限公司宣布计划收购极氪智能科技有限公司已发行的全部股份，目前吉利汽车 持有极氪约65.7%的股份。若交易完成，极氪将与吉利汽车完全合并，实现私有化并从纽约证券交易所 退市。而这距离极氪汽车正式上市还不到一年时间。 在中美关税摩擦背景下，极氪的私有化以及从美股退市的计划，成为市场热议中概股回流的"第一股"。 根据公告，吉利汽车建议购买价为每股极氪股份2.5美元或每股美国存托股票25.66美元，较最后交易日 美国存托股票于纽交所的收市交易价溢价约13.6%，较截至最后交易日止最后30个交易日期间美国存托 股票于纽交所的成交量加权平均价格溢价20%。私有化资金来源包括吉利汽车拟发行新股、现金储备及 债务融资。 事实上，在2020-2022年，中概股ADR潜在退市风险也曾引发全球投资者关注。这场退市风波结束后， 部分中概股为了规避风险，开始启动从美股退市或回归 ...

Core Viewpoint - New Nuo Wei (300765.SZ) announced the termination of its application for the acquisition of Shiyao Chuangxin Pharmaceutical Co., Ltd. and the associated fundraising, ending a 15-month effort for a significant restructuring deal worth 7.6 billion yuan [2][3]. Group 1: Termination of Acquisition - The termination was due to changes in the pharmaceutical industry and capital market environment since the initial planning of the restructuring, leading to a decision made in the interest of long-term shareholder benefits [2][3]. - The market reacted rationally to the termination, influenced by factors such as stock price fluctuations, increasing performance burdens, and declining acquisition targets [2][3]. Group 2: Financial Performance and Challenges - New Nuo Wei's revenue and profit have been declining, with a 21.98% year-on-year decrease in revenue to 1.981 billion yuan and an 87.63% drop in net profit to 54 million yuan in 2024 [8]. - The company's core revenue from functional foods and raw materials fell by 24.90% to 1.84 billion yuan, while the biopharmaceutical sector contributed only 87.8 million yuan, despite a 153.0% increase [10]. Group 3: Acquisition Details and Valuation - The acquisition target, Shiyao Baike, has a core product, Jinyouli, which is facing growth challenges, with a significant reliance on a single product and limited growth potential [4][7]. - The valuation for Shiyao Baike was set at 7.622 billion yuan, representing a 78.25% premium over its book value of 4.276 billion yuan, raising concerns about the high price for low-growth assets [6][7]. Group 4: R&D and Future Prospects - New Nuo Wei's R&D expenses increased by 25.44% to 842 million yuan in 2024, primarily due to the inclusion of Shiji Biological's R&D costs, indicating a significant financial burden [10][11]. - The company is under pressure from negative cash flows, with net cash flow from operating activities at -1.235 billion yuan in 2024 and -87 million yuan in the first quarter of 2025 [12][13].

在个人智能方面，联想认为，个人智能的未来就是让每一个人拥有自己的智能双胞胎。去年，联想推出 了智能体AI PC以及第一代个人智能体系统天禧AS。"过去一年，联想AI PC销量占比稳步提升，截止目 前累计销售已经超过百万台"，联想集团执行副总裁兼中国区总裁刘军表示，"如果看今天天禧AS的能 力，跟当时我们发布的时候，有了几倍的提升，用户净推荐指数和满意度、活跃度都是一直往上走。" 当前，我们正在经历着以人工智能为代表的第四次工业革命，传统IT将向着AI全面跃迁。从去年开始， AI PC、AI手机、AI眼镜等各种AI终端已经开始革命传统产业，全球人工智能终端产业竞争也已经进入 关键阶段。2025年政府工作报告将"发展新一代智能终端"列为国家战略，明确提出加速AI手机、AI PC、智能网联汽车等产品落地。 需要指出的是，大模型正在加速智能终端全栈革新和生态重构，核心向"OS+芯片+大模型+智能体"等更 多价值点扩展，推动产业格局调整。个人智能体正在向L3级进阶，个人超级智能体的出现，加速工程 化创新。 八年前，联想开始布局AI，并在去年的ech World上发布了AI PC和智能体"小天。一年后的今天，联想 首次定 ...

（图片来源于Google） 5月8日消息，钛媒体AGI获悉，英国芯片设计公司Imagination Technologies（以下简称Imagination） 今天面向全球推出全新E-Series系列GPU IP产品。 基于高效并行处理架构，全新Imagination E系列GPU IP支持从2 TOPS到200 TOPS INT8精度AI工作负 载，AI性能较前代D系列提升高达400%，适用于图形渲染、桌面应用、智能手机自然语言处理、工业 视觉以及辅助驾驶等场景，从而重塑端侧AI与图形系统的设计方式。 Imagination中国董事长兼亚太区域总裁白农对钛媒体AGI等表示，全新发布的新一代GPU产品是该公司 在图形和计算领域的又一个里程碑，它不仅在性能、功耗和面积方面实现全面优化，更在架构设计上实 现从传统渲染到通用计算的深度拓展，具备高度灵活性和可扩展性。随着DeepSeek等轻量化大模型快 速发展，边缘端AI应用正进入爆发期，而全新GPU IP产品和解决方案正是为满足这一趋势量身打造， 为芯片设计带来更大自由度和竞争力。 Imagination Technologies产品管理副总裁丹尼斯·劳迪克（De ...

Core Viewpoint - The lawsuit between Mengbaihe and Huazhu highlights the competitive dynamics between the mattress and hotel industries, with both sides seeking to capitalize on each other's markets [1][3][20]. Group 1: Legal Dispute - Mengbaihe Home Technology Co., Ltd. has filed a lawsuit against Huazhu Hotel Management Co., Ltd. and its subsidiaries for trademark infringement [2]. - The case is set to be heard in the Shanghai Pudong New Area People's Court on February 13, 2025 [2]. - The ongoing competition between the two companies has been characterized as a "water under the bridge" rivalry, with both aiming to capture market share from each other [2][3]. Group 2: Industry Challenges - The hotel industry is facing declining performance, with the average occupancy rate in 2024 at 58.8%, down 2.5 percentage points year-on-year, and average room prices decreasing by 5.8% [4]. - Increased competition and a saturated market have forced hotels to lower prices and seek cost-cutting measures, leading them to consider producing their own bedding products [4][20]. Group 3: Market Strategies - Huazhu's decision to enter the mattress market is driven by the need to enhance profitability amid declining hotel revenues [3][4]. - Other hotel brands, like Atour, have successfully launched their own bedding lines, significantly boosting their revenue [8][10]. - Mengbaihe's strategy involves collaborating with hotels to promote its products, effectively turning hotel rooms into immersive showrooms for its bedding items [16][20]. Group 4: Future Outlook - Mengbaihe aims to open 2,000 "zero-pressure" hotels, although its current progress is limited, with only a few locations operational [17][19]. - The competition between mattress manufacturers and hotels is expected to intensify, as both sectors explore new revenue streams and customer engagement strategies [13][20].

Core Insights - The article discusses the impact of the upcoming AI export control framework in the U.S. on NVIDIA's business, particularly its access to the Chinese AI market valued at approximately $360 billion [2][3][11] - Jensen Huang, CEO of NVIDIA, emphasizes the importance of the Chinese market and the potential losses for the company if it cannot operate there [3][11][12] Group 1: NVIDIA's Strategy and Market Position - Jensen Huang's visit to China aimed to reassure the market about NVIDIA's commitment to optimizing its product offerings in compliance with U.S. regulations [2] - NVIDIA plans to invest $500 billion in U.S. manufacturing over the next four years, with the next generation of chips to be produced entirely in the U.S. [2][3] - The company is developing a "special version" of its AI chips for China that complies with U.S. export regulations, with production expected to start as early as June [2][3] Group 2: Market Dynamics and Competition - Huang warns that if the AI export rules take effect without significant changes, NVIDIA may have to exit other markets, highlighting the competitive threat from companies like Huawei [3][11] - The Chinese AI market is projected to reach $50 billion in the next few years, making it crucial for U.S. companies to maintain access to this market [3][11][12] - The article notes that the technological gap between the U.S. and China in AI is narrowing, with Chinese companies making significant advancements [5][11] Group 3: Financial Implications - NVIDIA's revenue from China reached $17.108 billion in the fiscal year ending January 2024, marking a 66% increase from the previous year [6] - The company faces potential losses of $5.5 billion in quarterly revenue due to the ban on its H20 chip sales to China, with estimates suggesting total losses could range from $14 billion to $18 billion for the year [8][12] - NVIDIA's stock has declined over 15% year-to-date, reflecting market concerns over its ability to navigate the regulatory landscape [8] Group 4: Regulatory Environment - The Biden administration's AI export control framework has faced criticism for being overly complex and potentially stifling innovation [4][15] - Reports indicate that the Trump administration may seek to repeal the current export controls and establish a new framework that could ease restrictions on AI chip exports [14][15] - The article highlights the ongoing debate about the balance between national security and economic opportunity in the context of AI technology [10][12]

Group 1: Smart Glasses and AI Agents - A new product, NSVExBleeqUpAI sports shooting glasses, is set to be mass-produced and sold in June, marking a strategic collaboration between Zhijing Unknown and Star Creation Vision [2] - The smart glasses market is transitioning from basic hardware to intelligent assistance, with significant growth potential as major tech companies continue to innovate [2] - Wellsenn predicts that global AI glasses sales could reach 5.5 million units by 2025, representing a 135% year-on-year increase [2] - The Lenovo Innovation Technology Conference will focus on the large-scale implementation of AI Agents, showcasing advancements in interactive AI products [3] - The global AI Agent market is estimated to reach $5.4 billion in 2024, with a projected compound annual growth rate of 45.8% from 2025 to 2030 [3] Group 2: Huawei's Harmony OS and PC Market - Huawei is set to launch its Harmony OS-based PCs, marking a significant shift away from Windows, with all new laptops expected to run on Harmony OS after April [4][5] - The Harmony OS is anticipated to open doors in the government and enterprise markets, leveraging self-developed chips and systems for enhanced compatibility [5] Group 3: Weight Loss Drugs Market - The World Health Organization plans to officially recommend the use of weight loss medications for adult obesity, indicating a major policy shift in addressing obesity [6] - The market for GLP-1 weight loss drugs is expected to grow significantly, with estimates suggesting a market size exceeding 37.85 billion yuan by 2030 due to increased accessibility and demand [6]

在业绩停滞的档口，公司实控人被立案，玻尿酸三巨头之一的昊海生科正经历公司上市以来的关键拐点 时刻。 5月7日晚间，昊海生科收到控股股东、实际控制人之一蒋伟通知,其于近日收到中国证监会出具的《立 案告知书》，因涉嫌内幕交易被立案。不过公司方面同时指出，蒋伟被立案"与本公司股票无关"，并 且"不会对公司日常经营活动产生重大影响"。 源：公告 至于蒋伟参与了哪家上市公司的内幕交易不得而知，但可以确定的是蒋伟、游捷夫妇控制的昊海生科正 在面临业绩放缓的困境。 公开数据显示，2024年公司营业收入为27.0亿元，同比上升1.6%；净利润为4.2亿元，同比上升1.04%； 扣非净利润为3.79亿元，同比下降1.1%。和2023年相比无论是营收还是净利润的增速都在下滑，其中净 利润增长率更是从130.58%陡然降至1.04%。其中，公司业务中占比第二和第三的眼科产品与骨科产品 的营收因为受到新一轮的集采影响同比纷纷下滑。 | 产品线 | 2024年 | | 2023 年 | | 同比增长(%) | | --- | --- | --- | --- | --- | --- | | | 金额 | 占比(%) | 金额 | 占比( ...

Core Viewpoint - The control of Tongyu Heavy Industry has changed hands again after more than four years, with Shandong Guohui Capital acquiring a 15.5% stake from Zhuhai Port Group for 1.341 billion yuan, leading to a shift in actual control from Zhuhai State-owned Assets Supervision and Administration Commission to Shandong State-owned Assets Supervision and Administration Commission [2][4]. Group 1: Control Change Details - The transaction involves a cash acquisition and a voting rights delegation, with Zhuhai Port Group transferring 604 million shares (15.5% of total shares) to Guohui Capital at a price of 2.22 yuan per share, totaling 1.341 billion yuan [4]. - After the transaction, Zhuhai Port Group will retain 188 million shares (4.83% of total shares) with voting rights exclusively delegated to Guohui Capital [4]. - The change in control comes after Zhuhai Port Group's four-year tenure, during which Tongyu Heavy Industry's performance declined significantly [4][10]. Group 2: Company Performance - Tongyu Heavy Industry has experienced a continuous decline in net profit for four consecutive years, with figures dropping from 285 million yuan in 2021 to 4.1 million yuan in 2024, reflecting year-on-year decreases of -25.36%, -13.57%, -17.01%, and -79.73% respectively [10]. - The company's gross margin has also decreased significantly, falling from a stable range of 23%-26% between 2018 and 2020 to a range of 12.73%-17.28% from 2021 to 2024 [11]. - The decline in performance is attributed to intensified competition in the wind power industry, leading to a decrease in product prices [11]. Group 3: Market Reaction - Following the announcement of the control change, Tongyu Heavy Industry's stock surged by 9.43% on its first trading day after resuming trading, closing at 2.67 yuan per share [3]. Group 4: Future Prospects - Guohui Capital, which has been eyeing Tongyu Heavy Industry for some time, aims to leverage its local roots to improve the company's performance [12]. - Despite a significant increase in net profit in the first quarter of the year, the growth was primarily due to reduced financial expenses and recovery of bad debts, with revenue remaining stagnant [13].

Financial Performance - Palantir's Q1 revenue surged by 39% to $884 million, exceeding analyst expectations of $863 million, with adjusted EBITDA of $397.3 million, surpassing the forecast of $371 million [2] - Amazon's Q1 net sales reached $155.67 billion, a 9% increase year-over-year, with AWS revenue at $29.27 billion, growing 17% but below expectations, leading to a stock drop of over 3% [3] - Microsoft's Q3 revenue hit $51.87 billion, driven by cloud and AI, with Microsoft Cloud revenue at $42.4 billion, a 20% increase, and Azure growth at 33% [4] Industry Developments - Xiaomi announced the open-sourcing of its first inference model, Xiaomi MiMo, which outperformed OpenAI's o1-mini in mathematical reasoning and coding assessments [8] - DeepSeek released the Prover-V2 model with 671 billion parameters, utilizing a more efficient file format and supporting various computational precisions [5] - Huawei launched an AI data lake solution to enhance model training and inference efficiency [6] Corporate Strategies - Tencent restructured its TEG division, creating new departments for large language models and multimodal models, aiming to improve efficiency and reduce resource waste [12] - Ant Group plans to separately list its overseas segment, Ant International, in Hong Kong, with revenues accounting for about 20% of the group's total [10] - OpenAI is reportedly acquiring AI coding tool Windsurf for approximately $3 billion, marking its largest acquisition to date [14] Market Trends - The MaaS and AI large model solutions market in China is projected to grow significantly, reaching 710 million yuan in 2024, a 215.7% increase from 2023 [22] - China's AI industry is expected to surpass 700 billion yuan in 2024, maintaining a growth rate of over 20% [23] - The new version of the National Intelligent Manufacturing Standard System Construction Guide emphasizes the integration of AI with manufacturing [24]