来源|中国基金报 5月12日晚间，奢侈品巨头LVMH集团旗下知名品牌迪奥忽然曝出客户信息泄露事件，对此，迪奥 官方回应称确有其事，并已在通知受到影响的客户。 01 迪奥：客户信息泄露属实 基金君在小红书平台发现，5月12日晚间以来，多地网友发帖称，收到了迪奥官方的短信提示。在 短信中，迪奥表示，公司于5月7日发现，曾有未经授权的外部人员获取了其持有的部分客户数据。 初步调查显示，此次事件是由数据库遭受未经授权的访问所致。根据目前调查进展，在中国收集的 受影响的客户个人信息的最大范围可能包括：姓名、性别、手机号码、电子邮箱地址、邮寄地址、 消费水平、偏好等。不过，被访问的数据库中不包含诸如银行账户详情、国际银行账户号码 （IBAN）或信用卡信息等财务信息。 迪奥称，公司已采取措施以避免此次恶意访问事件的事态扩大，并在网络安全专家的协助下，持续 对该事件展开调查并进行应对，以及向相关监管部门进行报备。 迪奥表示，对于此事给客户带来的任何不便及困扰，公司深表歉意。同时，建议客户对任何可疑通 信（短信、电话、电子邮件）保持警惕。不要打开或点击不明来源的通信或链接，也不要透露验证 码、密码等敏感信息。若收到任何以迪奥名 ...

以下文章来源于证券之星 ，作者刘浩浩 财报显示，十月稻田2024年实现营收57.453亿元，同比增长18%，实现归母净利润2.044亿元， 同比增长415.08%，上年同期为亏损6486万元。 对于2024年业绩变动，十月稻田表示，主要受公司优化产品结构及在销售渠道上进行策略性布局等 因素影响所致。 资料显示，十月稻田是一家厨房主食食品企业，2023年10月在港交所上市，主要产品为预包装大 米、玉米、杂粮、豆类及干货产品等。 证券之星注意到，与传统粮油企业主要经营线下渠道不同，十月稻田经过多年发展，已成为一家以 线上销售为特色的"网红"品牌。2020-2022年，公司来自电商平台的销售收入占到总营收的六成 左右。 证券之星 . 证券之星始创于1996年，是国内领先的金融信息及综合服务平台。关注证券之星，即时获取有价值的财 经资讯。 来源|证券之星 作者|刘浩浩 近日，十月稻田(09676.HK)发布2024年业绩报告。在连续三年亏损后公司业绩终于成功扭亏， 2024年实现归母净利润超2亿元，同比增长超四倍。 不过证券之星注意到，十月稻田表面光鲜的数据背后却暗藏隐忧。作为其营收支柱的大米业务增速 持续下滑，而" ...

Group 1 - The core viewpoint of the article highlights that despite a recent surge in the US stock market, caution is advised as not all favorable conditions for sustained growth have been met [1][2][4] - Morgan Stanley analysts indicate that for a more durable rise in the US stock market, four conditions need to be fulfilled, of which only two have progressed: optimism around a trade agreement with China and stabilization in earnings revisions [2] - The S&P 500 index has recovered nearly half of its losses since February, attributed to the US government's engagement in trade negotiations with other countries [2][3] Group 2 - The current earnings season has seen a record number of mentions of "tariffs" by US companies, reflecting concerns over tariff uncertainties, with approximately 30 companies having canceled or suspended their earnings forecasts [3] - Following a significant rise, the S&P 500 index has surpassed previous resistance levels around 5700 points, returning to the range of 5700 - 6100 points prior to what was termed "liberation day" on April 2 [3] - For the US stock market to achieve more significant gains, further progress in US-China trade relations and improved earnings performance from listed companies are essential [4]

Core Viewpoint - The upcoming IPO of Heng Rui Pharmaceutical on the Hong Kong Stock Exchange is a significant event for the Chinese pharmaceutical industry, as it aims to raise $2 billion (approximately 14.5 billion RMB) and marks the company's strategic shift towards internationalization and innovation amidst increasing competition and challenges in the domestic market [1][11]. Group 1: Company Background and Leadership - Heng Rui Pharmaceutical, led by the notable couple Sun Piaoyang and Zhong Huijuan, has transformed from a struggling local factory into a pharmaceutical giant with a market value that once exceeded 1 trillion RMB [1][5]. - The couple's journey from humble beginnings to leading two major pharmaceutical companies, Heng Rui and Hansoh Pharmaceutical, exemplifies the potential of the Chinese pharmaceutical sector [3][14]. Group 2: Financial Performance and Challenges - As of the first quarter of 2025, Heng Rui reported over 24 billion RMB in cash and a low debt-to-asset ratio of 7.30%, indicating strong financial health despite facing challenges such as a decline in market value and innovation revenue [1][7]. - The company has experienced significant setbacks, including an 80% price drop in its core product, leading to a 28% decline in net profit in 2021, and a market capitalization loss exceeding 400 billion RMB [7][8]. Group 3: Market Position and Competition - Heng Rui's innovation revenue is currently only half that of its competitor, BeiGene, highlighting the competitive pressure in the domestic market as new players emerge with global strategies [8][11]. - The company has made strides in innovation, with 17 approved innovative drugs and an increase in the proportion of innovative drug revenue to 49.64% in 2024, but it still relies heavily on generic drugs for over half of its revenue [8][9]. Group 4: Internationalization Strategy - The IPO is seen as a critical step for Heng Rui to enhance its brand influence and facilitate its international expansion, with plans for overseas research centers and clinical trials in multiple countries [11][12]. - The company aims to address the challenges posed by domestic competition and maintain its leading position in the industry through a robust international strategy [11][14].

"美方取消了共计91%的加征关税，暂停实施24%的'对等关税'！"5月12日下午，瑞士日内瓦传来中美经 贸高层谈判的最新消息，让国内焦急等待的外贸人们为之沸腾，纷纷测算起最新关税税率。 （文中宋英坤、邓泽为化名） 由凤凰网主办的"2025中国企业出海高峰论坛"将于6月28-29日在深圳举行。论坛以"更开放的世界 更共 赢的机遇"为主题，探讨新兴市场出海攻略，汇聚30余国经贸代表、超50家行业领军企业及百余位政策 制定者，聚焦政策研判、产业实战与区域合作，为中国企业全球化提供系统性解决方案与资源对接平 台。 "简直要欢呼起来了，这真是天大的好消息！"义乌外贸公司老板宋英坤难得轻松地笑了。他公司的业务 高度聚焦美国市场，对美出口占公司总销售额的90%，主营服装轻纺类个人消费品，在这场关税战中受 到不小的影响。"现在的结果，对我们双方经营者都将会是重大利好。"他说。 这场贸易战，给他敲响了警钟。他意识到，公司出口国家与供应链渠道高度单一，过度依赖美国市场， 使得公司在贸易战冲击下面临风险。痛定思痛，宋英坤决心做出改变。在销售市场布局上，准备全力加 快拓展非美国市场，积极开展营销活动，试图在全球版图上开辟新的"战场" ...

Core Viewpoint - The article discusses the significant impact of the upcoming judicial battle regarding tariffs imposed by the Trump administration, highlighting the concerns of small businesses and the potential implications for U.S. trade policy and presidential powers [1][2][5]. Group 1: Market Reactions - Following the U.S.-China trade negotiations, major U.S. stock indices experienced substantial gains, with the Nasdaq rising by 4.35%, the S&P 500 by 3.26%, and the Dow Jones by 2.81%, marking new closing highs since March [1]. - Large tech stocks saw significant increases, with Amazon up over 8%, Meta over 7%, and other major companies like Apple, Tesla, and Nvidia also showing strong performance [1]. - The Nasdaq China Golden Dragon Index surged by 5.40%, reaching its highest level since April 4, with notable gains in popular Chinese stocks [1]. Group 2: Judicial Battle Overview - A historic judicial battle is set to take place on May 13, focusing on whether President Trump has the authority to impose tariffs under the International Emergency Economic Powers Act (IEEPA) [2]. - The lawsuit, initiated by a New York wine importer and several small businesses, challenges the constitutionality of the president's tax authority, arguing it should reside with Congress [2][3]. - The U.S. International Trade Court, which specializes in national tariff and trade disputes, will hear the case, potentially involving a panel of three judges for constitutional issues [3]. Group 3: Implications of the Ruling - The outcome of the case could significantly affect the Trump administration's trade policies, either expanding presidential powers if the court upholds the IEEPA or disrupting existing trade strategies if it rules against the administration [4][5]. - Even if the court denies the use of IEEPA, the administration may seek alternative legal avenues to achieve its policy goals, though these may not replicate the broad authority claimed under the act [5]. Group 4: Small Business Concerns - Most lawsuits against the tariff policy have been filed by small businesses, which fear substantial operational impacts from the tariffs [5]. - Large corporations tend to remain silent due to concerns over potential government retaliation, while small businesses, lacking the financial strength to absorb costs, feel compelled to take legal action [5][6]. - The Trump administration has dismissed calls for relief for small businesses, suggesting that domestic production would yield significant profits, a stance that many small business owners find unrealistic [6][7].

Group 1 - The core viewpoint of the article highlights the recent tax issues faced by Happy Aviation Co., Ltd., which has accumulated a total tax debt of approximately 1.928 million yuan, with a current outstanding balance of about 326,000 yuan [1] - Happy Aviation was established in March 2008, with a registered capital of around 1.29 billion yuan, and is fully owned by Happy Okai Aviation Management Co., Ltd. [1] - The company has been reported to be in a financial crisis, facing salary arrears and social security payment issues, leading employees, including pilots and cabin crew, to seek alternative income sources such as social media, live streaming, and food delivery [1] Group 2 - The tax types involved in the debt include corporate income tax, value-added tax, and property tax, with the tax authorities being the Xi'an Xian New Area Airport Tax Bureau and the Xi'an High-tech Industrial Development Zone Tax Bureau [1] - Specific tax debts reported include approximately 45,489.88 yuan for value-added tax, 72,792.18 yuan for corporate income tax, and 117,434.49 yuan for property tax, among others [2]

Core Viewpoint - The recent joint statement from the US-China Geneva trade talks has brought relief to American businesses, particularly in the hospitality sector, allowing them to resume importing goods from China without the burden of high tariffs [1][4]. Group 1: Impact of Tariffs on Business - The tariffs imposed by the Trump administration significantly increased costs for American businesses, with tariffs on certain goods rising from 20% to 145%, making imports financially unfeasible [2][3]. - A specific case highlighted is that of an American businessman, who faced a dilemma over whether to ship goods due to the high tariffs, which could exceed the cost of the goods themselves [3]. Group 2: Future Business Plans - The businessman had plans to transition into a professional foreign trade role, aiming to connect high-quality Chinese products with more overseas clients, but the tariff situation cast doubt on these ambitions [4]. - With the new trade agreement, there is optimism that the businessman can save over a million in tariff costs on shipments arriving in the US, allowing him to continue his plans for international trade [4]. Group 3: Upcoming Trade Forum - A trade forum titled "2025 China Enterprises Going Global Summit" is scheduled for June 28-29 in Shenzhen, focusing on strategies for emerging markets and providing a platform for resource connection and policy discussions [4].

国中水务（600187）一则终止重大资产重组公告，引汇源果汁陷入"走向末路、又被资本耍了、悲 剧"等舆论泥潭。 5月11日，面对"走向末路"等不实 传闻 ，汇源果汁发布严正声明： 近日，我们注意到有多家媒体/自媒体在网络平台发布多篇针对汇源果汁的唱衰及不实言论，这些 言论已严重贬损了汇源果汁品牌声誉及合法权益，严重伤害了创始人朱新礼先生的个人情感及名 誉。对此，汇源果汁严正声明如下： 网络上关于汇源果汁"走向末路、又被资本耍了、悲剧"等多篇唱衰汇源果汁言论，均为不实信 息，是恶意夸大事实、抹黑汇源果汁、诋毁民营企业及民族品牌的阴险行为。事实上，自2022年 重整成功以来，汇源果汁经营情况一切正常，并持续改善， 前不久还获知名第三方机构认证 的"100%果汁全国销量第一"的市场地位证明。 汇源果汁成立于2006年，主营果汁及饮料生产，是国内中高浓度果汁市场的龙头企业，其广告 语"有汇源才叫过年"曾家喻户晓。 2007年，汇源果汁以24亿港元的募资额，成为当年港交所最大IPO，后于2021年从港交所退市， 并破产重整。 图片来源：汇源官网截图 网络空间并非法外之地。我们呼吁广大网友、消费者理性甄别信息，爱护民族品 ...

Group 1 - The core viewpoint of the article highlights the competitive tension between Chery and Geely, particularly following negative comments made by Chery's marketing executive about Geely's new car, the Galaxy Star 8 [1][2]. - Geely's Galaxy Star 8, a mid-to-high-end hybrid sedan, was launched on May 9, with a price range of 115,800 to 155,800 yuan, and is noted for its competitive pricing and features, putting pressure on rival models [1]. - Chery's upcoming model, the Wind Cloud A9, is expected to be priced around 100,000 yuan and will directly compete with the Galaxy Star 8, indicating a significant market rivalry [1]. Group 2 - Following the controversy, Chery's executive, Yao Fei, disbanded the related social media group and made his account private, reflecting the backlash from the comments made [2]. - The article mentions that both Chery and Geely have not yet issued official responses regarding the incident, suggesting ongoing tension in the competitive landscape [2].