Core Insights - Adidas reported a 7% year-on-year revenue growth for FY2025H1, reaching €12.105 billion, with a net profit increase of 121% to €798 million [4] - The brand's revenue growth was 14% on a currency-neutral basis, with all regional markets achieving double-digit growth [4] - The company maintains its full-year guidance, expecting high single-digit revenue growth on a currency-neutral basis for FY2025, with double-digit growth for the Adidas brand [4] Market Trends - The domestic market indices showed positive performance, with the Shanghai Composite Index closing at 3,617.60, up 0.96% [3] - The textile and apparel sector experienced a decline of 2.14% this week, underperforming the broader market [5] - Retail sales of sports and entertainment products grew significantly, with a 22.2% year-on-year increase in the first half of 2025 [5] Industry Dynamics - The Chinese gold consumption in the first half of 2025 was 505.205 tons, a decrease of 3.54% year-on-year, with jewelry consumption dropping by 26% [5] - The pharmaceutical industry is seeing advancements in innovative drugs, particularly in obesity treatments with GLP-1 and Amylin therapies showing promising results in clinical trials [8][11] - In the biopharmaceutical sector, ADC drugs for lung cancer are demonstrating significant efficacy, with several products showing improved outcomes in clinical trials [10][12]

Core Viewpoint - The company has received approval from its controlling shareholder, Guangzhou Digital Technology Group Co., Ltd., for a plan to issue A-shares to specific investors in 2025, with a maximum of 67,131,773 shares to be issued and total fundraising not exceeding 1.3 billion yuan [1][2]. Group 1 - The company plans to issue A-shares to specific investors, subject to approval from the shareholders' meeting and regulatory authorities [2]. - The company has appointed Huatai United Securities Co., Ltd. as the new sponsor for the upcoming A-share issuance, replacing the previous sponsor, CITIC Securities [5][6]. - The new sponsor will take over the ongoing supervision of the company's previous fundraising activities from CITIC Securities [6]. Group 2 - The company previously issued 46,153,846 shares in a non-public offering approved by the China Securities Regulatory Commission, which was listed on June 15, 2021 [4]. - The new sponsor representatives, Sun Bo and Wang Le Lin, have extensive experience in investment banking and have participated in various IPO and fundraising projects [7][8].

| 序号 | 募投项目名称 | 投资总额 | 募集资金拟投会 | | --- | --- | --- | --- | | | | (万元) | (万元) | | 1 | 航空装备(含低空)测试平台项目 | 34.000.00 | 30,000 | | 2 | 新一代人工智能芯片测试平台项目 | 29,200.00 | 25,000 | | 3 | 卫星互联网质量保障平台项目 | 34,400.00 | 30,000 | | 3-1 | 卫星互联网质量保障平台项目(成都) | 22.900.00 | 20,000 | | 3-2 | 卫星互联网质量保障平台项目(广州) | 11.500.00 | 10.000 | | ব | 数据智能质量安全检验检测平台项目 | 7.500.00 | 5.00( | | ર્ | 西安计量检测实验室升级建设项目 | 18,000.00 | 15,000 | | 6 | 补充流动资金 | 25.000.00 | 25,000 | | | 合计 | 148,100.00 | 130,000 | 中证智能财讯 广电计量（002967）8月5日晚间公告，公司近日收到控股股东广州数字科技 ...

证券代码：002967 证券简称：广电计量 公告编号：2025-045 广电计量检测集团股份有限公司 关于公司向特定对象发行 A 股股票事项获得 广州数字科技集团有限公司批复的公告 二、按照中国证监会和深交所相关规定和要求，做好股票发行、信息披露等 工作。 公司 2025 年度向特定对象发行 A 股股票相关事项尚需获得公司股东大会审 议通过，并需获得深交所审核通过且经中国证监会同意注册后方可实施。公司将 根据本次向特定对象发行股票进展情况，按照相关规定及时履行信息披露义务， 敬请投资者注意投资风险。 特此公告。 广电计量检测集团股份有限公司 董 事 会 2025 年 8 月 6 日 1 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 广电计量检测集团股份有限公司（以下简称"公司"）近日收到控股股东广 州数字科技集团有限公司出具的《关于广电计量检测集团股份有限公司向特定对 象发行 A 股股票事项的批复》，主要内容如下： 一、同意公司 2025 年度向特定对象发行 A 股股票预案，发行股票数量不超 过 67,131,773 股（含本数），募集资金总额不超过 130 ...

证券代码：002967 证券简称：广电计量 公告编号：2025-046 广电计量检测集团股份有限公司 关于更换保荐机构及保荐代表人的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚 假记载、误导性陈述或重大遗漏。 广电计量检测集团股份有限公司（以下简称"公司"）经中国证券监督管理 委员会《关于核准广州广电计量检测股份有限公司非公开发行股票的批复》（证 监许可〔2021〕67 号）核准，公司非公开发行 46,153,846 股人民币普通股，并 于 2021 年 6 月 15 日在深圳证券交易所上市。公司聘请中信证券股份有限公司 （以下简称"中信证券"）担任公司非公开发行股票并上市的保荐机构，持续督 导期至 2022 年 12 月 31 日。鉴于公司非公开发行股票募集资金尚未使用完毕， 中信证券自 2023 年 1 月 1 日继续履行对公司剩余募集资金管理及使用情况的监 督核查工作。 公司于 2025 年 7 月 21 日召开第五届董事会第二十一次会议、第五届监事会 第十二次会议，审议通过了 2025 年度向特定对象发行 A 股股票相关议案。根据 本次向特定对象发行 A 股股票需要，近日公司 ...

Investment Rating - The report indicates a stable growth phase for the testing industry, with a revenue forecast of 487.6 billion yuan for 2024, reflecting a year-on-year increase of 4.4% [6][20]. Core Insights - The testing industry is entering a phase of steady growth, with a compound annual growth rate (CAGR) of approximately 6.0% from 2022 to 2024, following a significant slowdown in growth due to various economic pressures [6][20]. - The number of testing institutions is projected to decline for the first time in nearly 20 years, suggesting a potential turning point in the competitive landscape [6][21]. - The focus of demand is shifting towards technology, manufacturing, high-end consumer goods, biomedicine, and software information testing, indicating a structural transformation in the industry [7][29]. Summary by Sections Space - The total revenue for national testing institutions is expected to reach 487.6 billion yuan in 2024, with a year-on-year growth of 4.4%, down from 9.2% in 2023 [6][20]. - The industry has experienced a significant slowdown in growth due to pressures in traditional sectors like environmental and food testing, as well as real estate [6][20]. Field - The revenue share of ten advanced industries in testing services has increased from 21.4% to 26.3% from 2017 to 2024, while traditional industries have seen a slight decline [7][29]. Structure - By the end of 2024, private testing institutions are expected to number 33,900, accounting for 63.9% of the total, with a compound annual growth rate of 14.2% over the past decade [10][29]. Efficiency - The per capita output value in the testing service industry is projected to rise to 313,000 yuan in 2024, reflecting a year-on-year increase of 4.1% [9][29]. Investment Recommendations - The report recommends focusing on comprehensive testing leaders with clear internal operational turning points, particularly in high-end manufacturing and technology research testing [11][29]. - Companies to watch include Su Shi Testing, Huace Testing, and Xince Standards, among others, which are positioned to benefit from demand recovery and operational improvements [11][29].

| | 周大生足金999 | 1008 元/克 | | --- | --- | --- | | | 菜百首饰足金999饰品 | 985 元/克 | | | 潮宏基足金(首饰摆件) | 1008 元/克 | | TSL 謝瑞麟 | 谢瑞麟足金饰品 | 1008 元/克 | | ਤੇ ਦੇ ਜੋ | 金至尊足金999 | 1008 元/克 | | 周六福 | 周六福足金999 | 988 元/克 | 国内金饰价格回升 金十数据8月4日讯，金十图示：国内多家黄金珠宝品牌公布的境内足金首饰价格较上周五回升10元/克，多家报1008元/克。 @ JIN10.COM 0.6 金十数据 | 一个交易工具 ...

Group 1 - As of August 2, international gold prices are reported at $3362.5 per ounce, while international palladium is at $1209.9 per ounce, and international silver is at $37.0 per ounce [1] - Domestic gold prices are quoted at 776.2 yuan per gram [1] - Major domestic gold retailers have varying prices, with Chow Tai Fook at the highest price of 998 yuan per gram and China Gold at the lowest price of 969 yuan per gram [1] Group 2 - Other domestic gold prices include: Chow Sang Sang at 995 yuan per gram, Luk Fook Jewelry at 998 yuan per gram, and Xie Ruilin at 998 yuan per gram [1] - Jin Zun at 998 yuan per gram, Chao Hong Ji at 998 yuan per gram, and Cai Bai Jewelry at 975 yuan per gram [1] - Lao Miao Gold at 994 yuan per gram, Lao Feng Xiang at 996 yuan per gram, and Zhou Liu Fu at 978 yuan per gram [1]

Core Viewpoint - Domestic gold jewelry brands have maintained stable prices for domestic 24K gold jewelry, with many brands pricing at 998 yuan per gram [1][3]. Price Summary - Zhou Dasheng 24K gold jewelry is priced at 998 yuan per gram [3]. - Caibai Jewelry's 24K gold products are priced at 975 yuan per gram [3]. - Chao Hong Ji's 24K gold (jewelry ornaments) is priced at 998 yuan per gram [3]. - TSL's 24K gold products are priced at 998 yuan per gram [3]. - Jinzun's 24K gold jewelry is priced at 998 yuan per gram [3]. - Zhou Li Fu's 24K gold jewelry is priced at 978 yuan per gram [3].

Core Insights - The materials testing industry is crucial in the application of new materials, with significant growth driven by the demand from strategic sectors like new energy and semiconductors in China [1][6] - The global materials testing market is projected to reach $6.8 billion in 2024, with China's market expected to grow to 13 billion yuan, and further growth anticipated in 2025 [4][6] Industry Definition - The materials testing industry involves the examination, analysis, and evaluation of various materials' composition, performance, structure, safety, reliability, and environmental impact [2] - It covers a wide range of materials including metals, non-metals, polymers, composites, and biomaterials, serving multiple sectors such as industrial manufacturing, construction, aerospace, automotive, electronics, new energy, and medical devices [2] Current Development Status - The demand for materials testing is primarily focused on the quality, performance, and safety of construction materials, with significant growth attributed to advancements in testing technology and increased emphasis on product quality and safety [4] - The global materials testing market is expected to grow to $7.1 billion by 2025, with specific sectors like rail transportation and aerospace projected to see substantial increases in testing demand [4] Industry Value Chain - The upstream of the materials testing industry includes instruments, consumables, standards, data and software, and talent, with a reliance on imported high-end testing equipment [8] - The downstream includes diverse demand for testing services across various industries, particularly emerging sectors like new energy and semiconductors, which drive technological upgrades in testing [8] Competitive Landscape - The materials testing service market features a multi-tiered and differentiated competitive structure, with both international giants and local firms competing [12] - Key domestic players include Huace Testing, China Certification & Inspection Group, and PONY Testing, while international competitors include SGS, BV, and Intertek [12][13] Industry Development Trends - The materials testing industry is evolving towards smart and digital solutions, sustainability, and increased localization, driven by advancements in new materials technology and global quality standards [14]