Core Insights - Watsons Group announced significant management changes, with current Trade Director Donna Poon set to become the Managing Director of Watsons Hong Kong starting November 1, 2025, following the resignation of the current Managing Director, Li Jia Le, for personal reasons [1] - The frequent executive changes are interpreted as a response to challenges in the Chinese retail market, with the company facing declining performance in its beauty and health product segment [5] Management Changes - Watsons has undergone multiple executive adjustments since last year, including the appointment of Ni Wenling as CEO in April 2024, who has been with the parent company since 2000 [3] - In March 2024, Watsons China appointed Chen Zhihao and Nie Wei as Co-Managing Directors, with the former having played a key role in the company's O+O transformation [3][4] - Chen Zhihao retired in March 2024 after a significant tenure, while Nie Wei has been instrumental in developing the company's online business strategies [4] Financial Performance - In the first half of the year, Watsons China's revenue from health and beauty products totaled HKD 6.666 billion (approximately RMB 6.1 billion), a decline of 3%, marking it as the only segment with a decrease [5] - EBITDA for Watsons China was HKD 117 million (approximately RMB 110 million), down 53% year-on-year [5][6] - The overall retail performance showed a total revenue of HKD 98.84 billion, reflecting an 8% increase compared to the previous year [6] Strategic Adjustments - In response to growth challenges in China, Watsons is accelerating strategic adjustments, including the establishment of "back-end stores" designed for processing online orders to enhance delivery speed [7] - The number of online stores in Watsons China increased from 131 to 394 as of June 30, 2025, indicating a significant push towards online business capabilities [7] - The parent company, CK Hutchison Holdings, acknowledged ongoing challenges in the Chinese health and beauty market and emphasized the importance of optimizing store locations and enhancing online business capabilities [7]

【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com （责任编辑：刘静 HZ010） 格隆汇10月9日丨南玻Ａ(000012.SZ)公布，截至2025年9月30日，公司通过回购专用证券账户以集 中竞价交易方式累计回购公司A股股份38,191,671股，回购公司B股股份23,484,996股，合计占公司总股 本的比例为2.0086%。回购A股股份的最高成交价为5.04元/股（未超过本次回购方案限定的回购A股价 格上限7.53元/股），最低成交价为4.54元/股，累计支付的资金总额为人民币181,479,403.23元（不含印 花税、交易佣金等交易费用）。回购B股股份的最高成交价为1.94港元/股（未超过本次回购方案限定的 回购B股价格上限3.05港元/股），最低成交价为1.65港元/股，累计支付的资金总额为42,392,374.25港元 （按照2025年9月30日港元兑人民币汇率中间价1港元=0.91298元人民 ...

Core Points - President Trump criticized Chicago Mayor Johnson and Illinois Governor Pritzker, suggesting they "should be jailed" [1] - The Trump administration deployed the National Guard to Illinois, with the first 200 Texas National Guard members arriving in the Chicago area [1] - Illinois and Chicago filed a lawsuit against the Trump administration to prevent the deployment of the National Guard [1] Group 1 - Chicago has been labeled by Trump as the "worst, most dangerous" city in the world, with a focus on crime reduction through National Guard deployment [1] - Mayor Johnson described the deployment as "illegal, unconstitutional, dangerous, and wrong" [1] - Governor Pritzker highlighted that Chicago has been recognized as the "best big city in America" for nine consecutive years [1]

Core Viewpoint - The article discusses the deployment of the National Guard to Chicago by the Trump administration, highlighting the political tensions between President Trump and local Democratic leaders regarding crime and immigration enforcement [1]. Group 1: Government Actions - The Trump administration has sent the National Guard to Chicago, with the first group of 200 Texas National Guard members arriving in the area [1]. - Illinois and the city of Chicago filed a lawsuit against the Trump administration on June 6, attempting to block the deployment of the National Guard [1]. Group 2: Political Reactions - President Trump criticized Chicago's Democratic Mayor Johnson and Illinois Governor Pritzker, suggesting they should be imprisoned for failing to protect federal immigration officials [1]. - Mayor Johnson described the deployment of the National Guard as "illegal, unconstitutional, dangerous, and wrong" [1]. - Governor Pritzker shared on social media that Chicago has been named the "best big city in America" for nine consecutive years [1]. Group 3: Crime and Safety Concerns - Trump labeled Chicago as the "worst, most dangerous" city in the world, asserting that the National Guard's deployment is aimed at combating crime [1].

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年9月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 長江和記實業有限公司 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00001 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 3,830,044,500 | | 0 | | 3,830,044,500 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | | | 3,830,044,500 | | 0 | | 3,830,044,500 | 第 2 頁 共 10 頁 v 1.1.1 呈交日期: 2025年10月2日 I. 法定/註冊股本變動 | 1. ...

Core Viewpoint - The People's Bank of China (PBOC) emphasizes the need for a proactive monetary policy to promote stable economic growth and maintain reasonable price levels, reflecting a more nuanced understanding of the current economic challenges [1][2]. Group 1: Monetary Policy Direction - The PBOC's recent meeting indicates a shift from "maintaining" to "promoting" economic stability, highlighting a more active approach to monetary policy [1][2]. - The meeting introduced a new requirement to "ensure the effective implementation of various monetary policy measures," indicating a focus on the execution of existing tools [2][3]. Group 2: Structural Monetary Policy Tools - The meeting reiterated the importance of structural monetary policy tools, particularly in supporting small and micro enterprises and stabilizing foreign trade [4]. - The emphasis on financing support for key areas such as technology innovation, consumption, and small businesses is crucial, especially in light of potential impacts from U.S. tariffs on Chinese exports [4]. Group 3: Future Outlook - The expectation for the fourth quarter is to maintain a moderately loose monetary policy stance, with decisions on rate cuts or reserve requirement ratio adjustments to be based on comprehensive assessments of economic performance and external conditions [4].

格隆汇9月26日丨南玻A(000012.SZ)公布，公司拟在埃及投资新建光伏玻璃生产线项目，规划建设一条 1,400T/D一窑五线光伏压延玻璃及配套四条钢化镀膜加工生产线，在项目取得政府相关审批后启动建 设，预计建设周期为三年，项目规划总投资约人民币17.55亿元，具体投资金额和建设周期以实际投入 及建设情况为准。 ...

Core Viewpoint - The company, Deep Konka A, is addressing overdue shareholder loans from its subsidiary, Dongguan Kangyu Hong, due to delays in the progress of the Dongguan old renovation project [1] Group 1: Loan and Repayment Issues - The company has requested the repayment of a principal amount of 196 million yuan and its interest from Dongguan Kangyu Hong, which is unable to repay due to insufficient funds, resulting in overdue loans [1] - A demand notice has been sent to Dongguan Kangyu Hong to urge compliance with repayment obligations, and the company plans to intensify collection efforts, including potential legal actions to protect its rights [1] Group 2: Management and Oversight Actions - The company has established a special task force and appointed a professional team to oversee the management of Dongguan Kangyu Hong, monitor fund usage, co-manage bank accounts, and optimize project costs [1] - The company aims to expedite the Dongguan old renovation project and actively implement government requirements by organizing design firms to adjust and integrate the renovation units [1] Group 3: Property Management Strategy - Currently, the land held by Dongguan Kangyu Hong for the old renovation project is not ready for development, leading the company to agree on leasing out 247,400 square meters of factory property to quality tenants, with expected rental income to cover the repayment of the shareholder loans [1]

教育部等6部门印发《县域普通高中振兴行动计划》。《行动计划》明确五大任务：一要扩资源，适应 学龄人口变化，科学优化资源配置，加快扩大公办学位供给；二要提质量，健全德智体美劳全面培养体 系，推进"五育"融合发展，深化课程教学改革，健全师资队伍建设机制；三要强保障，健全经费投入机 制，加大省、市两级对教育基础薄弱地区县中的投入支持力度，优化教师工资待遇保障，按标准足额拨 付生均公用经费；四要优生态，树立科学教育理念，坚决纠正片面追求升学率倾向，严格规范县中办学 行为，深化评价改革，整治违规跨区域掐尖招生，禁止抢挖县中优秀校长和教师；五要促融通，推动高 中特色多样发展，持续优化职普结构，推进职普协调发展。 （文章来源：第一财经） ...

Core Viewpoint - A coalition of former U.S. Federal Reserve chairs, Treasury Secretaries, and economists urges the Supreme Court not to allow President Trump to dismiss Fed Governor Lisa Cook, warning that such an action could jeopardize the health of the U.S. economy and undermine the independence of the Federal Reserve, potentially leading to increased inflation [1][2][3]. Group 1: Concerns Over Fed Independence - The coalition argues that allowing Trump to dismiss Cook during her legal challenge would weaken public trust in the Fed and disrupt its efforts to stabilize prices, increase employment, and regulate long-term interest rates [1][2]. - Economists have reached a consensus that greater independence for central banks correlates with lower and more stable inflation without increasing unemployment, thus supporting the Fed's dual mandate of price stability and maximum employment [1][3]. Group 2: Historical Context and Warnings - The document references former Fed Chair Arthur Burns, who faced political pressure from President Nixon in the 1970s, leading to a period of high inflation and economic instability due to a lack of independence [2][3]. - The former officials emphasize that a non-independent central bank tends to pursue short-term gains, which can result in long-term economic damage [3]. Group 3: Legal Proceedings and Implications - Cook's legal team argues that Trump's request to dismiss her before the conclusion of the lawsuit would severely undermine the Fed's independence and could create chaos in financial markets [8][10]. - The Supreme Court's decision will hinge on whether Trump has "just cause" under the Federal Reserve Act to dismiss Cook, with her lawyers asserting that the allegations against her are unsubstantiated and politically motivated [9][11]. Group 4: Support from High-Profile Officials - The coalition includes prominent figures from both political parties, such as former Fed Chairs Alan Greenspan, Ben Bernanke, and Janet Yellen, as well as former Treasury Secretaries like Robert Rubin and Larry Summers [4][6]. - Alan Blinder, a former Fed Vice Chair, noted that there is a strong bipartisan consensus against undermining the Fed's independence, warning that if Trump can dismiss Cook, he could do so to any Fed official, eroding the institution's credibility [6].