Core Viewpoint - The proposal for a fixed monthly salary of 2 million yuan for the general manager of Borante was rejected by the board of directors, highlighting governance issues within the company [2][10][12]. Summary by Sections Salary Proposal - The general manager, Yin Rongzao, proposed a fixed monthly salary of 2 million yuan starting from August 2025, along with a year-end bonus calculated as "company profit - 1 yuan" [10][12]. - The board rejected this proposal with a vote of 1 in favor and 4 against, citing the company's current loss status and the need to address financial recovery first [12]. Financial Performance - For the first half of 2025, Borante reported revenues of 109 million yuan and a net loss of 7.4 million yuan [13]. - The company has faced significant challenges, including two consecutive years of "unable to express an opinion" audit reports, leading to its delisting from the New Third Board in April 2023 [24][25]. Governance Issues - The tenth largest shareholder, Jiaxing Junlan Investment Partnership, publicly criticized Yin Rongzao and called for amendments to the company’s articles of association to restore normal governance structures [16][21]. - The shareholder's open letter described Yin as a "predator" who undermines company value and governance for personal gain [22]. Company Background - Borante, founded in 2008, specializes in the research and development of industrial robots and has received various accolades, including being recognized as a "little giant" enterprise [24]. - The company was the first to list on the New Third Board in the robotics sector and experienced significant stock price increases in 2015 due to market interest [24].

Group 1 - Federal Reserve Governor Michelle Bowman supports three interest rate cuts this year, citing weak labor market data as a key factor [3][5] - Bowman previously supported maintaining interest rates until June but voted against the decision in July, advocating for a 25 basis point cut [3][5] - She urges other decision-makers to initiate rate cuts at the September Federal Reserve meeting to prevent further deterioration in the labor market [5][7] Group 2 - The U.S. labor market shows signs of cooling, with non-farm employment increasing by only 73,000 in July, below expectations, and the unemployment rate rising from 4.1% to 4.2% [7][9] - Core Consumer Price Index (CPI) is expected to rise by 0.3% in July, compared to a 0.2% increase in June, indicating a potential uptick in inflation due to higher tariffs [9][10] - Higher tariffs are beginning to affect consumer prices, particularly in household goods and entertainment, creating a dilemma for Federal Reserve officials who are trying to assess the impact on sustained inflation while monitoring labor market trends [9][10]

Core Viewpoint - Jihua Group is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, while the company claims its business operations remain normal during the investigation period [2]. Group 1: Regulatory Issues - On August 8, 2025, Jihua Group received a notice from the CSRC regarding the initiation of an investigation due to suspected information disclosure violations [2]. - The company had previously been criticized by the Shanghai Stock Exchange in November 2024 for failing to timely disclose relevant borrowing matters and not resolving these issues before a share transfer [5][7]. Group 2: Financial Performance - Jihua Group's revenue has been declining, dropping from 15.436 billion yuan in 2022 to 9.886 billion yuan in 2024, with a significant net loss of 4.228 billion yuan in 2024, a year-on-year decrease of 2418.90% [10]. - The losses are attributed to three main factors: impairment provisions for inefficient assets affected by the real estate market downturn, inventory impairment due to changes in customer demand and increased competition, and devaluation of collateral assets related to lawsuits [10]. Group 3: Stock Performance - Despite the financial struggles, Jihua Group's stock price has seen significant increases, with a maximum rise of 106.64% since April 2025, reaching a closing price of 5.28 yuan per share on August 8, 2025, with a total market value of 23.19 billion yuan [11].

Core Viewpoint - The article discusses the recent issuance of ten significant measures by the Henan Provincial Government to support the development of the artificial intelligence (AI) industry ecosystem, aiming to establish Henan as a new highland for AI development [2]. Summary by Sections Funding and Financial Support - A total of 3 billion yuan will be allocated to establish an AI industry fund to support various financing needs of AI companies at different stages of their lifecycle [4][10]. - For national-level specialized "little giant" enterprises in the AI sector, a subsidy of up to 500,000 yuan will be provided, covering no more than 20% of actual investment in equipment and software [5][10]. Model Research and Application - The measures emphasize strengthening model research and application, offering a one-time funding of 1 million yuan for companies that register generative AI models with the National Internet Information Office [4][7]. - Companies that develop and publicly release effective AI industry large models can receive up to 100,000 yuan in support [4][7]. Infrastructure and Resource Support - A computational power service will be established, with a total of 50 million yuan in computational vouchers distributed annually, rewarding enterprises using high-capacity computing resources [7][10]. - Support for the construction of high-quality data resources for AI model development will be provided, with each eligible corpus receiving up to 100,000 yuan [7][10]. Talent Development - The measures include incentives for attracting high-level AI talent, with specific funding rewards for core personnel in AI companies [7][10]. Innovation and Ecosystem Development - The establishment of AI innovation ecological communities is encouraged, providing integrated services for enterprises within these communities [7][10]. - The government will support the organization of high-impact industry events related to AI, offering financial rewards for approved activities [7][10]. Implementation and Evaluation - The policy measures will be effective for three years, with annual evaluations to assess implementation and make necessary adjustments based on industry development [10].

据美国全国广播公司（NBC）报道，白宫此前考虑邀请乌克兰总统泽连斯基前往阿拉斯加， 与将于8月15日会晤俄罗斯总统普京的美国总统特朗普同地出席活动。 来源：参考消息 据新加坡《联合早报》8月10日报道，白宫官员8月9日称，美国总统特朗普对在阿拉斯加与 俄罗斯总统普京和乌克兰总统泽连斯基举行三方峰会持开放态度，但目前将按普京的要求， 先行安排美俄双边会晤。 ...

Core Viewpoint - Huawei is set to release groundbreaking technology in AI inference on August 12, which may reduce China's reliance on HBM (High Bandwidth Memory) technology and enhance the performance of domestic AI large model inference, thereby improving the AI inference ecosystem in China [2]. Group 1: AI Industry Trends - The AI industry is shifting from "pursuing the limits of model capabilities" to "maximizing application value," with inference becoming the focal point of the next stage of AI development [3]. Group 2: Importance of HBM - HBM is crucial for addressing "data transportation" issues. A lack of HBM can significantly degrade user experience in AI inference, leading to problems such as task stalling and slow responses [4]. Group 3: Financial Sector Applications - Huawei, in collaboration with China UnionPay, will unveil the latest applications of AI inference, exploring scalable implementation paths in the financial sector. AI has become a core driver of intelligent transformation in finance, and the application of AI inference technology is accelerating the efficiency of financial services [5]. - As of June, Huawei has partnered with over 11,000 partners in the financial sector, serving more than 5,600 financial clients across over 80 countries and regions [5].

Core Viewpoint - Chengdu Bank's major shareholders plan to adjust their shareholding increase plan by removing the price cap and extending the implementation period to ensure the continuation of the increase [2][5]. Group 1: Shareholding Increase Plan - On April 9, Chengdu Bank's actual controller, the Chengdu State-owned Assets Supervision and Administration Commission, announced a plan to increase shareholding by purchasing 0.939% to 1.878% of shares at a price not exceeding 17.59 yuan per share within six months [4]. - Due to the stock price exceeding the disclosed upper limit, the shareholders have not been able to execute the increase as of July 9, 2025 [5]. - The adjusted plan removes the price cap, sets the increase amount between 6.99 billion yuan and 13.99 billion yuan, and extends the implementation period to 12 months [5]. Group 2: Financial Performance - As of the end of Q1, Chengdu Bank's total assets reached 1.335 trillion yuan, an increase of 846.92 billion yuan [7]. - The bank reported a revenue of 5.817 billion yuan, a year-on-year increase of 3.17%, and a net profit of 3.012 billion yuan, up 5.64% year-on-year [7]. - The non-performing loan ratio stood at 0.66%, maintaining the lowest level among A-share listed banks for the past two years [7].

来源：新华社 欧洲领导人：欧洲和乌克兰的安全利益必须得到保护 据媒体报道，特朗普6日与欧洲领导人通电话时曾表示计划与俄乌领导人会谈，但参与者不包 括任何欧洲领导人。美国《纽约时报》报道说，特朗普视欧洲为"不可信任的对象"，这加深了 北约内部裂痕。 les & FR 点击下载中国基金报客户端 ■ 中国基金报内容矩阵 ■ 英法德等6个欧洲国家领导人和欧盟委员会主席冯德莱恩9日晚发表联合声明，呼吁任何有关乌 克兰危机的外交解决方案都必须保护欧洲和乌克兰的重大安全利益。 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 √ � [ 8 a 4 a g a d 4 4 4 CHINAFUND CHINAFUND CHINAFUND CHINAFUND ●微信搜一搜( 〔 〔 中国基金报 〕即刻获取财经资讯 声明中，英国首相斯塔默、法国总统马克龙、德国总理默茨、意大利总理梅洛尼、波兰总理图 斯克、芬兰总统斯图布以及冯德莱恩对美国总统特朗普为解决乌克 ...

【导读】 持续上涨后出现调整，后市怎么走？四位 基金经理解读创新药投资机会 中国基金报记者 张燕北 孙晓辉 今年以来，创新药板块行情可谓波澜壮阔。其中，港股创新药更是星光闪耀。 截至2025年8月 8 日，恒生港股通创新药指数年内涨幅超过98%，自去年4月低点以来，该指数涨幅更是超过150%。万得创新药指数年 内涨幅超过46%，去年低点以来最大涨幅也超过95%。其间，诞生了一批十倍、五倍牛股。 但在烈火烹油之后，现在似乎有了回调的迹象，最近几天医药股尤其创新药"风浪"有点大。本次调整从7月30日开始算起，已调整9天，指 数最大调整幅度 为 -7.21%，至今调整幅度是-6.25%。 由此也催生出一些问题，聚焦在：这一波行情到顶了吗？经过连续上涨后，当前板块是否已出现局部泡沫？未来医药股会如何演绎逻辑？ 哪些领域还有机会？ 为此，中国基金报记者采访了： 中银基金基金经理 郑宁 平安医疗健康基金经理 周思聪 长城医药产业基金经理 梁福睿 在受访基金经理看来， 中国创新药当前正处于爆发增长态势，行业已迎来真正意义上的基本面拐点，并在逐渐完成从追赶者向引领者的转 变。 周思聪 ： 主要逻辑没有变化。创新药行情的底层逻 ...

来源：新华社 记者从中国人民抗日战争暨世界反法西斯战争胜利80周年纪念活动新闻中心获悉，8月9 日夜间至8月10日凌晨，北京天安门地区举行了纪念中国人民抗日战争暨世界反法西斯战争 胜利80周年大会第一次综合演练，约2.2万人参加演练及现场保障工作。 据介绍，第一次综合演练包括纪念大会仪式等内容，重点磨合了纪念大会全流程各要素 的内部衔接，全面检验了各方组织保障和指挥运行工作，演练组织有序，达到预期目标。北 京市有关方面表示，本次演练活动顺利完成，衷心感谢广大市民群众的理解支持。 ...