来源：凤凰网财经《IPO观察哨》 有着全球数量规模最大酒店集团之称的锦江酒店要赴港IPO了！ 6月29日，上海锦江国际酒店股份有限公司（以下简称"锦江酒店"）正式向港交所递交上市申请，独家 保荐人为东方证券国际。值得注意的是，此次锦江酒店冲击港股，实则是锦江系时隔三年后的再度回 归。早在 2006年，锦江资本已在香港联交所敲钟上市；但上市后，有分析指出锦江资本港股股价及流 动性低迷难以支撑公司融资需求。最终，锦江资本在2022年5月接受控股股东锦江国际的私有化方案， 正式从港交所退市。 近年来，锦江酒店通过频繁并购和加盟模式不断扩张规模，门店数量急剧增加。据其招股书显示，截至 2024年，锦江酒店已开业酒店家数达1.34万家，客房间数达129万间。按已开业酒店家数计算，锦江酒 店是中国以及全球最大的酒店集团。 然而，这种快速扩张并未给锦江酒店带来更大的效益，反而因并购产生高额负债、加盟管理失控、海外 业务遇挫等诸多问题，导致公司陷入"越扩张越亏损"的困境。与此同时，公司股价也随经营业绩的颓势 持续下滑，截至7月23日收盘，锦江酒店A股股价报22.71元/股，其市值较2023年4月峰值已蒸发超400亿 元，缩水 ...

美东时间 7 月 23 日周三，美股市场表现活跃，三大指数集体收涨。其中，道指上涨 1.14% ，纳 指上涨0.61% ，标普 500 指数上涨 0.78% ，市场整体呈现积极态势。 从板块和个股表现来看，热门科技股多数实现上涨。超微电脑涨幅超 3% ，英伟达、 AMD 涨幅均 超 2% ， Meta 、博通涨幅也超 1% 。 纳斯达克金龙中国指数同样收涨，涨幅为0.75% ，报 7896.94 点。热门中概股呈现分化走势，小 马智行初步收涨 7.7% ，文远知行涨5.2% ，腾讯涨4% ，拼多多涨 3% ，台积电涨2.3% ，阿里 涨 1.5% ，网易、百度、京东涨幅不到1% ；而小米则下跌 0.7% ，理想跌 1.4% ，蔚来跌 2.1% 。 更为引人关注的是，美国总统特朗普当日释放重磅信号："将对世界其他大部分国家征收 15% 至 50% 的简单关税。" 01 欧美关税协议传闻搅动市场 特朗普称将对多数国家征税 当天，有媒体援引知情人士消息称，美国和欧盟已接近达成一项贸易协议。根据该协议，美方将对 欧盟征收15% 的关税，这与美国本周同日本达成的贸易协议类似。欧盟方面可能同意这种对等关税 安排，以此避免 ...

2025年4月，特朗普政府高调推出"对等关税"政策，试图通过贸易壁垒强行推动制造业回流美国。财政 部长贝森特更在内阁会议上乐观预测，2025年全年关税收入有望突破3000亿美元，创下历史新高。 尽管钢铁等行业在关税保护下短暂受益，但更多领域如纺织、医药、新能源等却陷入"高价低质"和供应 链断裂的困境，美国警察更是以原来四倍价格购买本土生产的劣质制服。 凤凰网《风暴眼》 更讽刺的是，美国制造业早已"失血"多年——缺工人、缺技术、缺完整产业链，空有回流的口号，却无 落地的根基。 这场轰轰烈烈的"工厂回迁运动"，在财政账本上或许记下了漂亮的关税数字，却在实体经济中留下了成 本飙升、质量崩盘和人才断档的烂摊子，最终恐沦为一场代价高昂的"政治秀"。 01 "花四倍的钱买到了劣质产品" 自2025年4月特朗普政府祭出"对等关税"政策，制造业回流确实在某些行业初现端倪，但这"回春术"效 果可谓冰火两重天，甚至催生了"高价低质"的尴尬怪圈。 克利夫兰-克利夫斯公司算是"受益者"，二季度钢材出货量涨了7.5%，收入提升6.5%，克利夫兰-克利夫 斯首席执行官Lourenco Goncalves表示，公司在产品定价方面取得了显著 ...

每日经济新闻 . 中国主流财经全媒体。互联网新闻信息服务许可证编号：51120190017 。 来源|每日经济新闻 以下文章来源于每日经济新闻 ，作者每经记者 记者|吴泽鹏 编辑|何小桃 文多 杜恒峰 家装行业知名连锁品牌靓家居，在上周五（7月18日）突然宣布停止营业，此后引起大量关注。7月22日，《每日经济新闻》记者从多位珠海市消费 者手中获得了他们与靓家居所签的装修合同，并从中发现了一些"细节"。靓家居在与消费者签订装修合同时，部分签约主体是已注销的分公司。同 时，在合同约定收据加盖总公司收讫章的情况下，实际加盖的仍是注销公司收讫章。 靓家居官网无法打开 图片来源：网页截图 今年6月份，多名消费者与靓家居位于珠海的门店签下装修协议，但在交了几万元至十几万元的装修款后，家装工程在之后的一个多月里并未推进。 日前，他们又被告知公司停止营业。 更让这些消费者感到气愤的是，事发之后，这些消费者在整理相关合同、收据时才发现，签订合同、开具发票的主体均是"珠海市创靓家居装饰材料 有限公司摩尔分公司"（以下简称摩尔公司）。根据工商资料，该分公司在签订装修协议前的5月30日已注销。这些消费者给记者提供的材料显示， 相关合 ...

Core Viewpoint - The article emphasizes the discomfort caused by wearing non-breathable pants in hot and humid conditions, and introduces the "WearXLAB Cool Sensation Couple Eight-Defense Pants" from Xiaomi's ecosystem as a solution to this problem [8][10][17]. Group 1: Product Features - The "WearXLAB Cool Sensation Pants" incorporate eight protective functions: water resistance, stain resistance, odor prevention, UV protection, anti-static, tear resistance, wrinkle resistance, and pilling resistance, making them suitable for various urban outdoor scenarios [20][22]. - The pants utilize a self-developed "WearXLAB multifunctional technology fabric" that enhances comfort and cooling effects, making them feel like a portable air conditioner [17][36]. - The fabric is designed to be lightweight, moisture-wicking, and breathable, allowing for quick drying even during intense sweating [30][41]. Group 2: Performance Testing - The pants have undergone rigorous testing, demonstrating high antibacterial rates against bacteria such as Staphylococcus aureus and Candida albicans, confirming their effectiveness in odor prevention [25][57]. - The water-repellent feature allows liquids to bead up and roll off the fabric, ensuring that spills do not penetrate the pants [50][51]. - The UV protection level of the fabric is rated UPF 50+, exceeding the standard UPF 40+, making them ideal for outdoor activities [65]. Group 3: Design and Comfort - The pants are designed with a high-waisted, tapered fit that flatters various body types while providing comfort and flexibility for physical activities [75][78]. - The fabric is durable and resistant to wear, maintaining its quality even after extensive use, which is supported by detailed craftsmanship and stitching [67][81]. - The overall experience of wearing these pants is comparable to high-end brands, yet they are offered at an attractive price point of 99 yuan, making them accessible to a wider audience [87].

以下文章来源于时代财经APP ，作者张昕迎 时代财经APP . 聚焦于企业财经新闻，互联网新闻信息服务许可证编号：44120230006 来源|时代财经APP 作者 | 张昕迎 编辑 | 周梦梅 宣布进军加密支付领域，一家港股上市公司收获大涨。 7月22日，经纬天地（02477.HK）股价爆发，当日收盘，该股涨18.11%，总市值87亿港元。7月 23日，经纬天地股价开盘再涨3%，股价创下60日新高，年内其股价已涨超170%。 股价大涨或与公司发布的一份关于稳定币业务的公告有关。7月21日晚间，经纬天地在港交所公告 称，公司进军加密支付领域，推出自主开发的全球稳定币货币支付平台，并于2025年7月21日发布 首款移动应用程序"Fopay"。 公告显示，Fopay基于稳定币加密支付概念开发，提供一站式支付平台，目前透过若干持牌合作方 提供稳定币托管及预付卡支付功能。 值得关注的是，就在不久之前的5月，经纬天地刚刚完成了第一大股东的变更，股权收购方则是有 着浙商"百亿大佬"之名的钱峰雷，其人极具"传奇性"。 钱峰雷初中辍学、出身微寒，发家后与马云关系密切且比邻而居。2020年，钱峰雷在香港中环遭人 用刀袭击，其因 ...

Core Viewpoint - The article emphasizes the importance of humanistic spirit and intellectual responsibility in navigating the complexities of modern society, as exemplified by the thoughts and works of Wang Hui, a prominent scholar and editor [1][11]. Group 1: Initial Inspiration - Wang Hui's journey into the world of literature and humanities began in 1977, the year when the college entrance examination was restored, reflecting a cultural awakening among youth [2]. - His choice to pursue humanities was influenced by a nurturing environment, particularly from his mother, who taught foreign literature, instilling in him a deep appreciation for literature and thought [2][4]. Group 2: Intellectual Responsibility - Since becoming the editor of "Reading" magazine in 1996, Wang Hui has been closely associated with significant public discussions on issues such as rural affairs, healthcare reform, and state-owned enterprise reform, often facing controversy [5][8]. - He believes that engaging with societal issues through writing and thought is a fundamental responsibility of intellectuals, even in the face of criticism [5][8]. Group 3: Humanistic Spirit - Wang Hui's extensive writing, including a thirteen-year effort on "The Rise of Modern Chinese Thought," reflects his commitment to intertwining scholarly work with societal engagement [8][10]. - He draws inspiration from Chinese intellectual traditions, advocating for a return to humanistic values in an era characterized by rapid change and information overload [10][11].

来源|华尔街见闻 在美国总统特朗普宣布与日本达成贸易协议后，同时传出日本首相石破茂计划辞职的消息，日本股 市周三（7月23日）大幅飙升，而政府债券则暴跌。这一动态反映了投资者对关税不确定性消除和 政治领导层变化的积极回应。 据央视新闻，当地时间7月22日，美国总统特朗普通过社交媒体宣布美国与日本达成贸易协议：对 日关税税率为15%及日本5500亿美元对美投资。这一水平低于投资者此前担心的25%。消息传出 后，日本基准股指东证指数和日经225指数均上涨超过3%，截至发稿，日经225指数大涨近4%。 汽车股涨幅尤为突出，马自达汽车股价一度飙升18%，丰田汽车涨幅超过15%。 与此同时，日本政府债券收益率大幅上升，短期债券收益率攀升反映市场对央行年内加息预期升 温，长期债券收益率上涨则源于对政府支出增长的担忧。10年期日本国债收益率涨10个基点至 1.6%，为2008年10月以来的最高水平。日本40年期国债收益率上升8个基点至3.455%。 分析认为，石破茂辞职传言为市场增添乐观情绪。在周日选举失利后，投资者对其财政政策方向存 在担忧。市场普遍认为领导层变更将为日本股市带来积极影响。 01 政治变局带来额外乐观情绪 ...

Market Performance - The U.S. stock market showed mixed results with the S&P 500 reaching a new high, while the Dow Jones increased by 0.4% and the Nasdaq decreased by 0.39% [1] - Major tech stocks had varied performances, with Tesla rising over 1% and Nvidia falling over 2% [1] - The Nasdaq Golden Dragon China Index rose by 1.7%, with notable gains in Chinese concept stocks such as NIO increasing over 10% and Baidu rising over 4% [1] Federal Reserve Insights - Jerome Powell emphasized the need for large U.S. banks to maintain capital adequacy and manage risks, allowing them to compete freely with non-bank financial companies [1] - Powell's comments did not include any insights on future monetary policy as the Federal Reserve enters a quiet period ahead of the upcoming meeting [1] Interest Rate Speculations - The swap market indicates that the likelihood of a Federal Reserve rate cut next week is nearly zero, with traders pricing in a total of 46 basis points of cuts for the remainder of the year [2] - The probability of maintaining the current interest rate in September is 41.4%, while the cumulative probability of a 25 basis point cut is 57.2% [2] Political Pressure on the Federal Reserve - Former President Trump has repeatedly attempted to pressure Powell to resign, while Treasury Secretary Mnuchin supports Powell's continued tenure [3] - Trump has expressed that interest rates are too high, suggesting they should be lowered by 3 percentage points or more, attributing housing market issues to Powell's policies [4] - Mnuchin called for a comprehensive internal review of the Federal Reserve's functions, indicating a need for the institution to refocus on its core responsibilities [4]

Core Viewpoint - The separation between Dong Yuhui and Dongfang Zhenxuan marks a significant shift in the live-streaming e-commerce industry, with both entities pursuing distinct paths that reflect their individual strengths and challenges [4][13][29]. Group 1: Company Performance Post-Separation - One year after the split, Dong Yuhui's company, Yuhui Tongxing, has surpassed 30 million followers, while Dongfang Zhenxuan lags behind at around 28 million [6][8]. - In terms of live-streaming viewership, Yuhui Tongxing averaged 15.73 million daily views over the past month, significantly outperforming Dongfang Zhenxuan's 3.84 million [6][8]. - Despite Yuhui Tongxing's advantages, it has faced a 45% year-on-year decline in daily viewership, and its average viewer retention time dropped from 3.2 minutes to 1.8 minutes [9][10]. Group 2: Financial Performance - Yuhui Tongxing reported a net profit of 140 million yuan in the six months leading up to the split, while Dongfang Zhenxuan's revenue fell by 9.3% to 2.187 billion yuan, resulting in a net loss of 96.5 million yuan [3][11]. - Dongfang Zhenxuan's paid membership base grew by 84.41% to 228,300, but this only contributed 13.6% to its overall GMV, indicating a low conversion rate compared to competitors [11][12]. Group 3: Strategic Directions - Dongfang Zhenxuan is focusing on building a self-owned supply chain and self-branded products, aiming to become an "online Sam's Club," while Yuhui Tongxing relies heavily on Dong Yuhui's personal brand [14][20]. - The two companies are not traditional competitors anymore; instead, they are exploring different business models, with Dongfang Zhenxuan investing in product development and Yuhui Tongxing enhancing content creation [13][14]. Group 4: Challenges and Risks - Yuhui Tongxing's reliance on Dong Yuhui's personal brand poses a risk, as any decline in his popularity could significantly impact sales [10][24]. - Dongfang Zhenxuan faces challenges in brand recognition and customer loyalty, as its self-branded products are still relatively unknown in the market [23][24]. Group 5: Future Outlook - Both companies are navigating their respective challenges, with Dongfang Zhenxuan needing to enhance its brand and supply chain, while Yuhui Tongxing must reduce its dependency on a single individual for growth [26][29]. - The separation has allowed both entities to focus on their long-term strategies, with Dongfang Zhenxuan aiming for stability and Yuhui Tongxing exploring new content avenues [27][29].