中泰国际发布研报称，分别调升公司FY25-27股东净利润预测1.9%、1.2%、2.1%，并相应将目标价由 7.40港元提高至8.60港元，对应11.5倍FY26市盈率和10.4%上升空间，以同时反映资本市场风险下降。 该行将评级由"中性"上调至"增持"。 三季度新签订单明显加快 25Q3新签订单金额同比大幅增长104.1%至89.1亿元，其中清洁能源板块同比上涨147.7%至80.3亿元。例 如公司(一)与挪威Amon Gas签订了2+2艘51,000立方米氨双燃料中型LPG/液氨运输船建造合同订单;(二) 与新加坡Purus签订2艘18,900立方米LNG加注船订单;(三)与GSXEnergy签订2+2艘20,000立方米LNG加注 船订单。因此虽然25H1同比下跌，25Q1-3新签订单总金额同比仅下跌5.4%至196.4亿元，其中清洁能源 板块则同比上升5.1%至169.9亿元，当中水上清洁能源板块同比上升16.2%至86.5亿元。 截至9月30日，在手订单总金额达到307.6亿元，同比上升10.9%，其中清洁能源板块为273.4亿元，同比 增长23.6%，当中水上清洁能源板块同比上升39.5%至199 ...

智通财经APP获悉，中泰国际发布研报称，分别调升公司FY25-27股东净利润预测1.9%、1.2%、2.1%， 并相应将目标价由7.40港元提高至8.60港元，对应11.5倍FY26市盈率和10.4%上升空间，以同时反映资 本市场风险下降。该行将评级由"中性"上调至"增持"。 中泰国际主要观点如下： 25Q1-3股东净利润同比上升12.2% 25Q1-3总收入及股东净利润分别同比增长7.7%及12.9%至193.5亿及7.7亿元(人民币，下同)。虽然其中化 工环保及液体食品板块收入分别同比下跌28.2%及13.9%至15.7亿及27.4亿元，但是清洁能源板块收入同 比上涨19.4%至150.4亿元，当中水上清洁能源板块(包含造船及船用燃料罐业务)收入更同比增长64.4% 至48.1亿元。 三季度新签订单明显加快 25Q3新签订单金额同比大幅增长104.1%至89.1亿元，其中清洁能源板块同比上涨147.7%至80.3亿元。例 如公司(一)与挪威Amon Gas签订了2+2艘51,000立方米氨双燃料中型LPG/液氨运输船建造合同订单;(二) 与新加坡Purus签订2艘18,900立方米LNG加注船订单;(三) ...

Core Insights - Jiangsu Shuxintong Data Service Co., Ltd. was established with a registered capital of 30 million yuan, marking a significant step in the market-oriented reform of data elements in Jianye District, Nanjing [1][3] - The company aims to explore an integrated service model for data "aggregation, governance, management, and utilization," with a revenue target of several hundred million yuan within the next 3 to 5 years [3][4] Company Overview - Jiangsu Shuxintong is a joint venture between Jiangsu Data Group and Ant Group, focusing on the full-chain service of data elements [1][3] - The company will operate as a core platform for the integration of public data and data authorization in Jiangsu Province [3] Industry Context - The establishment of Jiangsu Shuxintong is part of Jianye District's strategy to enhance its data technology, services, and applications, thereby increasing industrial cohesion [4] - Nanjing Shuzhi City, where the company is located, is the largest and highest-level data industry cluster in Jianye District, attracting various high-quality enterprises in the data and AI sectors [3][4]

Core Insights - Starbucks reported a 6% year-over-year revenue growth in China for Q4 FY2025, reaching $831.6 million (approximately RMB 5.913 billion) [1] - For the full fiscal year 2025, Starbucks China revenue increased by 5% to $3.105 billion (approximately RMB 22.077 billion) [1] - The company opened 183 new stores in Q4 FY2025, entering 47 new county-level markets, with a total of 415 new stores added throughout the fiscal year [1] Financial Performance - Q4 FY2025 revenue for Starbucks China was $831.6 million, marking a 6% increase year-over-year [1] - Full fiscal year 2025 revenue reached $3.105 billion, reflecting a 5% growth compared to the previous year [1] Market Expansion - Starbucks continues to focus on penetrating lower-tier markets in China, with a total of 8,011 stores across 1,091 county-level cities by the end of FY2025 [1] - New stores have maintained a high level of profitability, contributing above-average same-store sales growth [1] Strategic Partnerships - Starbucks CEO expressed confidence in retaining significant equity in its China operations while exploring partnerships to unlock future growth potential [2] - The company is focused on finding suitable partners to enhance its growth trajectory in China, emphasizing the value of future investments and royalty payments [2] Product Innovation - The company highlighted successful product innovations, particularly the tea latte series, and the rapid growth of its delivery service as key drivers of performance [2] - Continuous optimization of product offerings and pricing strategies is being implemented to adapt to the fast-changing market [2]

Core Viewpoint - UBS reported that Budweiser APAC's Q3 revenue and adjusted EBITDA were $1.555 billion and $438 million, representing year-on-year declines of 8.8% and 8.6%, respectively, which were below the bank's expectations by 1% to 3% but generally in line with market expectations [1] Financial Performance - Q3 revenue was $1.555 billion, down 8.8% year-on-year [1] - Adjusted EBITDA for Q3 was $438 million, down 8.6% year-on-year [1] Earnings Forecast - UBS has lowered Budweiser APAC's earnings forecasts for 2025 to 2027 by 7% to 9% due to the ongoing weakness in the Chinese market and limited visibility for Q4 [1] - The expected recovery is now anticipated to be delayed until 2026 [1] Investment Rating - UBS maintains a "Buy" rating for Budweiser APAC, citing the ongoing premiumization in household channels, attractive valuations, and robust cash reserves that support stable dividends through 2025 [1] - The target price has been reduced from HKD 9.07 to HKD 8.75 [1]

消息面上，派格生物医药近日公布，宣布与阿联酋领先医药研发机构PDC FZ-LLC达成战略合作，独家 授予其在中东及非洲地区开发、分销、营销及商业化派格生物的核心产品Visepegenatide (PB-119)。此 次合作标志着派格生物全球商业化战略迈出关键一步。 据悉，Visepegenatide (PB-119) 是派格生物自主研发的一款每周一次皮下注射的GLP-1受体激动剂，用 于治疗2型糖尿病和体重管理。据国际糖尿病联盟数据显示，中东及北非地区成年糖尿病患病率高达 16.2%，位居全球首位。此次合作有望加速Visepegenatide (PB-119)这一创新疗法惠及该地区众多未满足 医疗需求的患者。 智通财经APP获悉，派格生物医药-B(02565)尾盘涨超20%，高见62.25港元，再创上市新高。截至发 稿，涨16.51%，报60.3港元，成交额3023.46万港元。 ...

智通财经APP讯，HSSP INTL(03626)公布，公司股份已于2025年10月31日下午3点23分起短暂停止买 卖。 ...

开源证券此前指出，公司上半年业绩显著增长主要得益于AI驱动智能出价体系持续迭代，公司飞轮效 应强化，规模效应进一步显现。看好Mintegral持续贡献收入增量，维持"买入"评级。国证国际认为，随 着平台算法能力的升级迭代和新产品的推出，公司将会有更好的业绩表现。 消息面上，"十五五"规划建议稿文件明确"人工智能+"行动要贯穿科研、制造、治理、服务全链条，不 再局限于数字产业化，而是发挥引领及全方位赋能千行百业作用。银河证券认为，"人工智能+"行动被 写入十五五规划，"人工智能+"应用将提速。 智通财经APP获悉，汇量科技(01860)涨超7%，截至发稿，涨7.8%，报17.83港元，成交额3.22亿港元。 ...

Core Insights - Meituan has upgraded its "Smart Store Manager" AI phone reception capabilities for dining establishments, enhancing the dining service experience through semantic recognition and dialogue analysis models [1] - In October, Meituan's "AI Reception" facilitated nearly 150,000 dine-in orders, indicating strong adoption of the technology [1] - During the pilot phase, the AI reception solution was implemented in over 186,000 stores nationwide, showcasing extensive reach [1] - As of October 31, the volume of AI receptions in Meituan's restaurants has increased by 44% month-over-month [1]

（原标题：王大在出任联席主席，美的置业管理层再迎变动） 薪酬方面，王大在2024年的薪酬是141.4万元，而根据最新的公告，王大在签订了为期三年的服务合 同，预计2025年年度因担任多个管理职位收取的酬金约为180万元。同时，王大在还持有美的置业24.04 万股股份及61.60万股期权股份，合计相当于公司股权的0.06%。 针对王大在的职务任命，美的置业在公告中进行了一番解释。 根据企业管治守则相关规定，主席与行政总裁的角色应有区分，不应由一人兼任。美的置业表示，由于 王大在自2025年10月27日起同时担任本公司联席主席兼总裁，有所偏离企业管治守则相关规定，但鉴于 王大在业务营运方面拥有丰富的经验，董事会认为这种安排有利于执行战略目标及加快推动经营发展。 美的置业强调，董事会认为，这一构架不会打破董事会与管理层之间的权力及权限平衡，此因为董事会 由9名经验丰富且具有良好诚信的高素质人才组成，其中3名为独立非执行董事，他们将能够在出现潜在 利益冲突时带头处理有关情况。 美的置业最新的董事会架构是由3名执行董事、3名非执行董事以及3名独立非执行董事构成。3名执行董 事为美的置业管理层王大在、郝恒乐以及刘敏，3名 ...