Core Viewpoint - ST Suwu has announced arbitration against Regen Biotech, Inc. for a claim of 1.6 billion yuan due to a breach of contract regarding the exclusive distribution rights of the "AestheFill" product, which has led to significant financial distress for the company [2][4][7]. Group 1: Company Situation - ST Suwu's stock price has fallen to 1.07 yuan per share, just above the "1 yuan delisting" threshold, following a series of financial and operational challenges [4][11]. - The company is facing severe penalties from the China Securities Regulatory Commission (CSRC) for concealing the actual controlling shareholder and financial fraud, with a potential fine of 15 million yuan and a 10-year market ban for the controlling shareholder [14]. - ST Suwu and its subsidiary have invested over 400 million yuan in the clinical registration and market expansion of the "AestheFill" product, which has now put them in a precarious survival situation [9]. Group 2: Legal and Financial Implications - The arbitration request has been accepted by the Shenzhen International Arbitration Court, with ST Suwu reserving the right to adjust the claim amount based on the case's progress [7]. - The company has publicly accused Aimeike of "capital bullying" and harming the interests of over 80,000 small investors and thousands of employees [7][9]. - Despite the potential for a successful arbitration, analysts suggest that the lengthy process may not provide immediate relief for ST Suwu, which is already on the brink of delisting [14]. Group 3: Market Context - Aimeike's acquisition of Regen Biotech has raised concerns about its commitment to the Chinese market, as it has allegedly delayed supply to ST Suwu's core business [9]. - The "AestheFill" product, known as "童颜针," is a high-margin regenerative aesthetic injection that has been crucial for ST Suwu's financial turnaround [17]. - Aimeike has experienced a significant decline in revenue growth, with its stock price dropping from a peak of 596 yuan to below 200 yuan, indicating a challenging market environment for high-end aesthetic products [17][18].

Group 1 - The Chinese Ministry of Commerce has announced the inclusion of 28 US entities in the export control list, prohibiting the export of dual-use items to these entities [2] - Effective from August 12, 2025, the measures against 16 of the entities listed on April 4 will be suspended for 90 days, while measures against 12 entities listed on April 9 will be halted [2] - Exporters wishing to export dual-use items to these entities must apply to the Ministry of Commerce, which will review applications according to relevant regulations [2] Group 2 - The Ministry of Commerce has also included 17 US entities in the unreliable entity list, prohibiting these entities from engaging in import and export activities related to China and from making new investments in China [3] - Starting from August 12, 2025, the measures against the entities listed on April 4 will be suspended for 90 days, and measures against those listed on April 9 will be stopped [3] - Domestic companies can apply to conduct transactions with the entities on the unreliable entity list, and the review process will be conducted according to the regulations [3]

8月12日，中美双方发布《中美斯德哥尔摩经贸会谈联合声明》。美方承诺继续调整对中国商品（包括 香港特别行政区和澳门特别行政区商品）加征关税的措施，自8月12日起继续暂停实施24%的对等关税 90天。中方自8月12日起继续暂停实施24%对美加征关税以及有关非关税反制措施90天。 国务院关税税则委：调整对原产于美国的进口商品加征关税措施 8月12日， 国务院关税税则委员会发布关于调整对原产于美国的进口商品加征关税措施的公告。 为落实中美经贸会谈共识，根据《中华人民共和国关税法》、《中华人民共和国海关法》、《中华人民 共和国对外贸易法》等法律法规和国际法基本原则，经国务院批准，自2025年8月12日12时01分起， 调整《国务院关税税则委员会关于对原产于美国的进口商品加征关税的公告》（税委会公告2025年第4 号）规定的加征关税措施， 在90天内继续暂停实施24%的对美加征关税税率，保留10%的对美加征关 税税率。 来源：新华社 财政部 深夜，跳水！特朗普，签令 中美就24%关税继续暂停等达成共识 ...

Core Viewpoint - New Morning Technology has announced the termination of its plan to acquire 96.9628% of Tianyi Enhua's shares due to a lack of agreement on key transaction terms after four months of negotiations [2][4][6]. Summary by Sections Termination of Acquisition - The company held a board meeting on August 11, 2025, where it approved the termination of the acquisition of Tianyi Enhua [3]. - The decision was made to protect the interests of the company and its investors after negotiations failed to reach consensus on core transaction terms [6]. Background of the Acquisition - In April 2023, New Morning Technology announced a major asset restructuring plan to acquire Tianyi Enhua through a combination of issuing shares and cash payments [8]. - Tianyi Enhua is recognized as a service provider in cloud computing infrastructure and has received accolades such as "Beijing Specialized and Innovative 'Little Giant' Enterprise" [8]. - The acquisition was expected to enhance New Morning Technology's capabilities in system integration services and expand its business scope in emerging technologies like blockchain and artificial intelligence [9]. Financial Performance - New Morning Technology reported a revenue of 1.349 billion yuan in 2024, a year-on-year decline of 22.22%, and a net profit loss of 81.4595 million yuan, marking its first loss since going public [11]. - The first quarter of 2025 showed a revenue of 124 million yuan, down 35.03% year-on-year, but the net loss improved to 6.2633 million yuan compared to the previous year [11].

Core Viewpoint - The company *ST Bio is planning to acquire a 51% stake in Hunan Huize Biomedical Technology Co., Ltd. for cash, which will result in Huize becoming a subsidiary of *ST Bio, indicating a significant asset restructuring [2][6]. Group 1: Acquisition Details - The acquisition of Huize Medical, a professional CRO company focused on drug research and clinical evaluation, is expected to enhance *ST Bio's capabilities in the biopharmaceutical sector [5][6]. - Huize Medical generates over 85% of its revenue from clinical evaluation services and has established long-term partnerships with over 300 pharmaceutical companies and research institutions [5]. Group 2: Strategic Benefits - The acquisition is anticipated to extend *ST Bio's biopharmaceutical business, improving its profitability and risk resilience [6]. - The integration of drug research and clinical evaluation services is expected to enhance operational efficiency and create strong synergies [6]. Group 3: Financial Performance - *ST Bio has projected a revenue of 49 million to 52 million yuan for the first half of 2025, representing a year-on-year decline of 7.68% to 13% [7]. - The company expects a net loss attributable to shareholders of 3.5 million to 5 million yuan, an improvement from a loss of 8.39 million yuan in the same period last year [7]. Group 4: Stock Performance - Following a period of stock price decline, *ST Bio's shares were subject to delisting risk warnings starting April 30, 2025, with the stock price dropping to a low of 5.43 yuan per share on April 28 [9]. - Recently, the stock price has rebounded, closing at 12.54 yuan per share as of August 11 [10].

Core Viewpoint - The article discusses the recent decline in U.S. stock indices, the significant drop in gold prices, and the extension of tariff suspension on China by the Trump administration, highlighting the market's anticipation of upcoming inflation data [2][24]. Group 1: Stock Market Performance - On August 11, the three major U.S. stock indices opened the week with declines, with the Dow Jones Industrial Average falling by 200.52 points, or 0.45%, closing at 43975.09 points [4][5]. - The Nasdaq Composite dropped by 64.62 points, or 0.30%, to close at 21385.40 points, while the S&P 500 fell by 16.00 points, or 0.25%, ending at 6373.45 points [4][5]. - A record proportion of fund managers, approximately 91%, believe that U.S. stocks are currently "too expensive," marking the highest level since 2001 [8]. Group 2: Inflation Data and Economic Indicators - The market is awaiting the release of the Consumer Price Index (CPI) on Tuesday and the Producer Price Index (PPI) on Thursday, which are expected to significantly influence interest rate expectations [9]. - Economists predict that the July CPI will rise by 0.2% month-on-month and 2.8% year-on-year, with the core CPI expected to increase by 0.3% month-on-month and 3.1% year-on-year, reflecting a rise from June levels [9]. Group 3: Gold Market Reaction - Gold prices experienced a sharp decline, with spot gold dropping by 1.6% to a low of $3341.25 per ounce, marking a new low in over a week, while December futures fell by 2.5% to settle at $3404.70 per ounce [21][24]. - The decline in gold prices is attributed to multiple negative factors, including Trump's tariff exemption statement on gold, the extension of the U.S.-China trade truce, potential progress in Russia-Ukraine peace talks, and market anxiety over upcoming U.S. inflation data [24]. Group 4: Semiconductor Industry Developments - Nvidia and AMD have reached an agreement with the Trump administration to pay 15% of their revenue from chips sold to China to the U.S. government in exchange for export licenses [10][13]. - This agreement highlights the ongoing regulatory environment affecting semiconductor companies and their international operations [10][13].

中美发布联合声明：双方再次暂停实施24%的关税90天，保留剩余10%的关税 来源：新华社 中美斯德哥尔摩经贸会谈联合声明 新华社北京8月12日电 中华人民共和国政府（"中国"）和美利坚合众国政府（"美国"）， 忆及2025年5月12日达成的中美日内瓦经贸会谈联合声明（"日内瓦联合声明"）；以及 考虑到双方2025年6月9至10日伦敦会谈和2025年7月28至29日斯德哥尔摩会谈； 双方忆及日内瓦联合声明下所作承诺，并同意于2025年8月12日前采取以下举措： 一、美国将继续修改2025年4月2日第14257号行政令中规定的对中国商品（包括香港特别行政区和澳门 特别行政区商品）加征从价关税的实施，自2025年8月12日起再次暂停实施24%的关税90天，同时保留 按该行政令规定对这些商品加征的剩余10%的关税。 les & FR 点击下载中国基金报客户端 ■ 中国基金报内容矩阵 ■ 巅峰对话 投资热点说 ETF风向标 IPO情报站 fe o 1 ■ a a - 444 and 4 4 CHINAFUND CHINAFUND CHINAFUND CHINAFUND 开盘速递 港股日报 全球早班车 数说人物 √ � ...

来源：央视新闻 特朗普：开始部署国民警卫队 华盛顿特区进入公共安全紧急状态 当地时间11日，美国总统特朗普发表讲话称，将把华盛顿特区警察局置于联邦的直接管辖之 下，并于当天开始部署国民警卫队士兵，帮助重建华盛顿特区的法律、秩序和公共安全。同 时， 特朗普宣布 华盛顿特区进入公共安全紧急状态 。 特朗普表示， 将部署 800名国民警卫队士兵 到华盛顿特区 ，同时也将会关注纽约和芝加哥 的治安情况。 美国国防部表示，在此次部署期间，还将有100至200名士兵随时支持执法工作。据美国国防 部长赫格塞斯透露， 国民警卫队人员预计 将在未来一周内抵达首都 。另据一名白宫官员 称，美国联邦政府接管首都华盛顿警察局预计将持续30天。 美国华盛顿特区市长鲍泽当地时间11日表示，美国总统特朗普接管警察部门"令人不安且史无 前例"，但该市并不"完全感到惊讶"。 华盛顿特区当前由民主党主政。作为共和党籍总统，特朗普今年1月再次入主白宫以来，多次 批评华盛顿特区暴力犯罪与流浪人员问题，指责当地政府治理不力，并多次主张联邦政府全 面介入管理华盛顿特区。外界普遍认为，特朗普最新决定的直接"导火索"是一名政府效率部 年轻职员近期在华盛顿遭 ...

来源：中央气象台 降水预报： 8 月 12 日 08时至 13 日 08 时， 台湾岛东北部 地区将有大到暴雨（ 50~60 毫米）。 防御指南： 中央气象台 8月12日06时 发布暴雨蓝色预警： 预计， 8月12日08时至13日08时 ， 河南南部、湖北中部和西南部、湖南西部和北部、贵州 东部和南部、云南北部 、河北西部和东北部、北京西部和北部、天津北部、台湾岛东北部、 西藏东南部 等地部分地区有大到暴雨 ，其中，河南南部、湖北东北部和西南部、湖南北部等 地 部分地区有大暴雨 （100～140毫米） 。上述部分地区伴有短时强降水（最大小时降雨量 20～50毫米，局地可超过60毫米），局地有雷暴大风等强对流天气 。 防御指南： 1.政府及相关部门按照职责做好防暴雨准备工作； 2.学校、幼儿园采取适当措施，保证学生和幼儿安全； 3.驾驶人员应当注意道路积水和交通阻塞，确保安全； 4.检查城市、农田、鱼塘排水系统，做好排涝准备。 中央气象台 8 月 1 2 日 06 时发布 台风 黄 色预 警 ： 今年第 11 号台风"杨柳"（强热带风暴级）的中心今天（ 1 2 日） 早晨 5 点钟位于台湾台 东市 东偏南 方向 ...

Core Viewpoint - The performance of equity-based wealth management products has significantly improved, with over 90% of such products yielding positive annualized returns, driven by a recovering capital market and supportive macro policies [2][4]. Group 1: Performance of Equity Wealth Management Products - As of August 3, there are 46 publicly offered equity wealth management products, with 43 showing positive returns, and 17 of these exceeding 10% annualized returns [2][4]. - The average net asset value growth rate for equity wealth management products this year is 5.82%, making them standout performers in the wealth management market [4]. - The average maximum drawdown for fixed income products is only 0.19%, while mixed products have a higher average maximum drawdown of 1.26% [4]. Group 2: Market and Policy Influences - The significant rise in equity wealth management product yields is attributed to the recovery of the capital market and macro policies that boost market confidence [6]. - A policy issued in January 2025 allows bank wealth management to participate more actively in the capital market, enhancing the allocation of wealth management funds to equity assets [6]. - The current low interest rate environment is pushing wealth management companies to diversify their asset allocations to meet client demands for higher returns [6]. Group 3: Market Size and Trends - Despite the strong performance of equity wealth management products, their market size remains relatively small, with the total wealth management market reaching 30.67 trillion yuan, where fixed income products dominate [7]. - Equity products account for only 0.07 trillion yuan of the total market, indicating a low proportion in the overall wealth management landscape [7]. - Analysts predict that as the preference for bond assets diminishes due to lower yields, there will be an increased allocation towards equity assets in the future [8].