消息面上，美高梅中国公布，根据国际财务报告准则，截至今年6月30日止第2季度，总收益为86.67亿 港元，同比增长8.89%；上半年总收益为166.61亿元，同比增长2.73%。第2季公司的经调整EBITDA为 25.11亿元，同比增长2.79%，创新高。花旗指出，将美高梅目标价从17.1港元上调至18港元，并维持"买 入"评级。 花旗维持2025年7月GGR预测为210亿澳门元(约为2019年7月水平的86%，同比增长13%)，预计郭富城 (新濠影汇)、林忆莲(金沙中国威尼斯人综艺馆)及汪峰(美高梅)的演唱会将支持本月剩余时间的日均 GGR维持在约6.68亿澳门元。此外，麦格理最近将2025年澳门总博彩收入的预估上调5%至2,357亿元， 代表全年按年增长4%。 博彩股逆势上扬，截至发稿，美高梅中国(02282)涨6.67%，报16.64港元；新濠国际发展(00200)涨 4.02%，报5.44港元；金沙中国(01928)涨1.82%，报19.06港元；银河娱乐(00027)涨1.32%，报38.45港 元。 ...

澳娱综合早前发新闻稿指，因应整体业务规划及商业考量，君怡娱乐场提前终止营运。所有由澳娱综合 聘用的本地雇员将继续受雇，并按营运需要调派至公司旗下其他娱乐场从事博彩相关工作；至于非澳娱 综合聘用的本地雇员亦将获邀申请公司内部相关空缺岗位，并在相同条件下优先聘用。 澳门11间赌场"卫星场"须于年底前结束营业，其中澳娱综合旗下澳门卫星赌场君怡娱乐场今日凌晨结束 营运。澳门卫星赌场本身没有赌牌，但与持牌博彩公司合作经营，类似特许经营模式。澳门政府较早前 于2022年修改相关法例，规定"卫星场"在三年过渡期届满后，要结束经营或改为持牌博企直营。 据报道，君怡娱乐场今日(31日)凌晨零时拉下卷闸，场所招牌由红布遮挡。门外摆放的告示指出，若持 有未兑换筹码、未取回积存现金回赠等，可到另一娱乐场账房处理。 ...

Group 1 - The core viewpoint of the news is that Zhejiang Xinhecheng Co., Ltd. has shown significant financial growth in its latest quarterly report, with a notable increase in both revenue and net profit [1] - As of July 29, 2025, the company's stock closed at 22.17 yuan, down 0.72%, with a trading volume of 192,500 hands and a transaction amount of 427 million yuan [1] - The company's total operating revenue for the first quarter of 2025 was 5.44 billion yuan, representing a year-on-year growth of 20.91%, while the net profit attributable to shareholders was 1.88 billion yuan, up 116.18% year-on-year [1] Group 2 - The company has a liquidity ratio of 2.610 and a quick ratio of 1.988, indicating strong short-term financial health [1] - The debt-to-asset ratio stands at 29.74%, suggesting a relatively low level of financial leverage [1] - Zhejiang Xinhecheng has made investments in 23 companies and has participated in 674 bidding projects, showcasing its active engagement in the market [2]

金融界消息 截至2025年7月29日收盘，ST德豪（002005）报收于2.42元，下跌1.63%，换手率1.01%，成 交量17.63万手，成交金额4272.59万元。 ST德豪最新一期业绩显示，截至2025一季报，公司营业总收入1.50亿元、同比减少1.77%，归属净利润 82.56万元，同比增长105.21%，扣非净利润1005.04万元，同比增长41.29%，流动比率0.631、速动比率 0.530、资产负债率67.30%。 来源：金融界 天眼查商业履历信息显示，安徽德豪润达电气股份有限公司，成立于1996年，位于蚌埠市，是一家以从 事电气机械和器材制造业为主的企业。企业注册资本175242.4858万人民币，实缴资本42161.4万人民 币。公司法定代表人为吉学斌。 资金流向方面，今日主力资金净流出1207.31万元，占比成交额28.26%。其中，超大单净流出836.56万 元、占成交额19.58%，大单净流出370.76万元、占成交额8.68%，中单净流出流入497.96万元、占成交 额11.65%，小单净流入709.36万元、占成交额16.6%。 通过天眼查大数据分析，安徽德豪润达电气股份有限公 ...

Group 1: Hong Kong Stock Market Highlights - New China Life Insurance (01336) rose over 5%, reaching a historical high, while China Life (2628.HK) increased by 4.4%, AIA (1299.HK) by 3.5%, and China Pacific Insurance (2601.HK) by nearly 2% following the release of the 2Q25 predetermined interest rate of 1.99% by the insurance industry association [1] - Heng Rui Pharmaceutical (1276.HK) opened up 10.65% after announcing a global exclusive licensing agreement with GSK for the HRS-9821 project, excluding mainland China and certain regions [1] - Guangshen Railway (00525.HK) saw a peak increase of over 9% after signing a cooperation agreement for the Guangzhou East Station renovation project, with a total investment of approximately 16.66 billion yuan [1] Group 2: Other Notable Stock Movements - MicroPort Medical (00853.HK) surged over 8% as major shareholders agreed to sell a total of 291 million shares to various buyers, including funds under Shanghai Industrial Capital [2] - China Tobacco Hong Kong (06055.HK) rose over 5% following the release of a draft management regulation for domestic duty-free tobacco products by the National Tobacco Monopoly Administration [2] - Shenghua Land (08106) saw its stock price soar over 200% after a share acquisition agreement was reached [2] - Jiufang Zhitu Holdings (09636) increased over 10% after announcing a profit forecast for the first half of the year, expecting a net profit of 830 to 870 million yuan, a turnaround from a net loss of 174 million yuan in the same period last year [2] - Lianlian Digital (02598) rose over 7% as a report highlighted the significant role of third-party payment institutions in cross-border and multi-currency settlement services [2] Group 3: Macau Gaming Sector Performance - Gaming stocks saw a general increase, with Amax Holdings (00880) up 10.39%, Melco International Development (00200) up 5.64%, and Sands China (01928) up 3.25%. UBS reported that the average daily gaming revenue in Macau for the past week was 657 million patacas, a slight decline due to typhoon impacts, but still showing a year-on-year growth of approximately 14% [3] Group 4: US Stock Market Highlights - AMD (AMD.US) rose 2.68% as it achieved a 50% market share in the server CPU market, matching Intel for the first time [4] - Newmont Corporation (NEM.US) increased by 6.89%, reporting a second-quarter earnings per share of $1.85, up from 73 cents year-on-year [5] - Berkshire Hathaway's holding Verisign (VRSN.US) rose 6.67% despite Q2 revenue falling short of market expectations, as the company raised its full-year revenue guidance [5] - Tesla (TSLA.US) increased by 3.52% with plans to launch Robotaxi services in San Francisco [6]

Group 1: Market Overview - The Hang Seng Index rose by 0.40%, gaining 102 points to close at 25,490 points, while the Hang Seng Tech Index fell by 0.59% [1] - Hong Kong's stock market saw a morning trading volume of HKD 149.7 billion [1] Group 2: Brokerage Performance - The establishment of the China Capital Market Society has led to positive performance reports from listed brokerages, with notable gains in shares such as Guotai Junan (up 3%), Everbright Securities (up 0.54%), and CITIC Securities (up 1%) [1] Group 3: Gaming Sector - UBS reported that Macau's July gaming revenue exceeded market expectations, while Thailand recently withdrew its casino legalization bill, leading to a rise in gaming stocks. Notable increases include Suncity Holdings (up 7.79%), Melco International Development (up 3.89%), and Sands China (up 1.62%) [1] Group 4: Financial Technology and Digital Currency - Yunfeng Financial rose by 5.68% as the company plans to enter the Web 3.0 space and expand investments in stablecoins and other digital currencies [1] - OSL Group announced the completion of a USD 300 million equity financing, which will be used for license application preparations and other core areas, resulting in a 2.68% increase in its stock [1] Group 5: Innovative Products and Earnings - Guichuang Tongqiao saw a nearly 6% increase, with expected net profit growth of nearly 67% year-on-year for the first half, and several innovative products anticipated to receive approval [1] - China Tobacco Hong Kong surged over 13%, indicating that its exclusive cigarette export business is unaffected by related regulatory draft [1] Group 6: Optical Technology - Conant Optical experienced a rise of over 6%, driven by the upward trend in smart glasses and the potential growth of its XR business [2] Group 7: Gold and Coal Sectors - Laopu Gold's stock fell nearly 4% after a profit warning, despite a projected net profit increase of up to 288% year-on-year for the first half [3] - The main contracts for coking coal saw significant declines, with companies like Mongolian Coking Coal and Yancoal Australia dropping by 5% and 3.39% respectively, indicating a need to monitor policy developments [3]

Group 1 - The controlling shareholder, Suzhou Wuzhong Investment Holding Co., Ltd., holds 122,795,762 shares of Jiangsu Wuzhong Pharmaceutical Development Co., Ltd., accounting for 17.24% of the total share capital [2] - As of the announcement date, all shares held by the controlling shareholder are under pledge, judicial marking, judicial freezing, or pending freezing status [2][3] - The company will actively and prudently address the risks associated with stock pledges and freezes [3] Group 2 - The company will further verify the situation regarding the controlling shareholder's shares being judicially frozen and marked, and will continuously monitor the resolution of debt risks [3]

Core Viewpoint - *ST Suwu (600200) is facing mandatory delisting due to four consecutive years of financial fraud and significant fund misappropriation, potentially becoming the ninth major company to be delisted for serious violations by 2025 [1][2][3] Financial Fraud - From 2020 to 2023, *ST Suwu engaged in continuous financial fraud, with profit inflation peaking at 51.65% in 2021. The total inflated profit amounted to 0.76 billion yuan, with inflated operating income and costs reaching 1.772 billion yuan and 1.695 billion yuan respectively [6][7] - The proportion of inflated profits was notably high, with over 25% of profits being fraudulent from 2021 to 2023, and 2021 seeing the highest inflation rate at 51.65% [6] Fund Misappropriation - *ST Suwu has experienced severe fund misappropriation, with the highest rate reaching 96.09% of its net assets by 2023. The non-operational fund occupation by related parties increased significantly from 1.27 billion yuan in 2020 to 16.93 billion yuan in 2023 [7][8] - By 2023, over 70% of *ST Suwu's net assets had been "emptied," with 7.69 billion yuan of misappropriated funds still outstanding [8] Disclosure Issues - The company failed to disclose a change in its actual controller for six years, which occurred in February 2018, leading to significant penalties [9] - The company and its main responsible individuals were fined a total of 30.5 million yuan, with the chairman facing the highest penalty of 15 million yuan and a 10-year market ban [9] Regulatory Environment - The new delisting regulations effective from January 1, 2025, have tightened the standards for mandatory delisting, particularly focusing on financial fraud [2][14] - Since the tightening of regulations, eight companies have already faced delisting procedures due to serious violations, indicating a trend towards stricter enforcement [14] Company Background - *ST Suwu, established in 1994 and listed in 1999, has struggled with poor performance in its core pharmaceutical and real estate businesses, leading to continuous losses from 2018 to 2023 [11] - Despite a brief recovery in 2024 due to a new product line, the company reported a net loss of 0.74 billion yuan in the first quarter of 2025 [11] Legal and Investor Protection - Following the investigation into *ST Suwu, investors have begun filing civil compensation lawsuits, supported by new measures for investor protection [15] - The introduction of advance compensation and commitments from administrative enforcement parties aims to enhance investor rights and recovery options [15]

Core Viewpoint - *ST Suwu has received an administrative penalty notice from the China Securities Regulatory Commission (CSRC), indicating that the company may face major illegal delisting due to inflated revenue, costs, and profits in its annual reports from 2020 to 2023 [2][5][7]. Summary by Relevant Sections Administrative Penalty Notice - The notice states that *ST Suwu's subsidiaries engaged in non-commercial trade activities with related companies, leading to inflated financial figures [5][7]. - The company is at risk of being delisted under the Shanghai Stock Exchange's rules due to these violations [2][10]. Financial Impact - The inflated revenue figures from 2020 to 2023 were reported as follows: - 2020: 495 million yuan (26.46%) - 2021: 469 million yuan (26.39%) - 2022: 431 million yuan (21.26%) - 2023: 377 million yuan (16.82%) [7]. - The inflated costs were: - 2020: 481 million yuan (37.08%) - 2021: 448 million yuan (35.47%) - 2022: 411 million yuan (28.40%) - 2023: 355 million yuan (20.95%) [7]. - The inflated profit figures were: - 2020: 14.58 million yuan (2.89%) - 2021: 20.27 million yuan (51.65%) - 2022: 19.92 million yuan (26.42%) - 2023: 21.22 million yuan (29.81%) [7]. Company Response and Future Actions - *ST Suwu has issued its first risk warning regarding the potential for major illegal delisting [8]. - If the company receives a formal penalty decision confirming the violations, it will apply for a trading suspension and disclose relevant information [10]. - The Shanghai Stock Exchange will issue a notice regarding the potential termination of *ST Suwu's stock listing within five trading days of the suspension [10]. Recent Financial Performance - For the year 2024, *ST Suwu reported: - Revenue of 1.599 billion yuan, a decrease of 28.64% year-on-year - Net profit attributable to shareholders of 70.48 million yuan, compared to a loss of 71.95 million yuan in 2023 [10][11].

Core Viewpoint - *ST Suwu has been found guilty of financial fraud for four consecutive years, leading to potential forced delisting due to significant violations of regulations [2][3]. Financial Misconduct - From 2020 to 2023, *ST Suwu's annual reports contained false records and significant omissions, inflating revenue by 4.95 billion, 4.69 billion, 4.31 billion, and 3.77 billion respectively, which accounted for 26.46%, 26.39%, 21.26%, and 16.82% of the reported revenue for those years [5]. - The company also inflated total profits by 14.58 million, 20.27 million, 19.92 million, and 21.22 million, representing 2.89%, 51.65%, 26.42%, and 29.81% of the total profits for the respective years [5]. Control and Disclosure Issues - *ST Suwu failed to accurately disclose its actual controller, with the reports from 2018 to 2023 incorrectly identifying Qian Qunying as the actual controller instead of Qian Qunshan, who gained control after a shareholding change in February 2018 [5]. Related Party Transactions - The company provided funds to related parties through non-commercial trade business payments, which were not disclosed in the annual reports from 2020 to 2023. The non-operating fund occupation by related parties was 127 million, 1.393 billion, 1.543 billion, and 1.693 billion, representing 6.88%, 74.2%, 84.6%, and 96.09% of the net assets for those years [6]. Regulatory Actions - The China Securities Regulatory Commission (CSRC) has decided to impose a fine of 10 million on *ST Suwu and has mandated corrective actions. The former chairman Qian Qunshan faces a total fine of 15 million, while other executives also received fines and warnings [6]. - Starting July 14, *ST Suwu's stock will be subject to a delisting risk warning due to the serious violations [6].