5月30日，中国企业财务管理协会名誉会长李永延、副会长兼执行秘书长胡芳、特聘副会长、山东数实未来发展公司董事长邱黎明一行莅临深度数科集团调 研考察。集团董事长全传晓、资深副总裁兼总裁办主任李洋，商城数科总经理王朝阳及有关部门负责人陪同调研。 李永延名誉会长介绍了中财协会创新发展的成功做法，高度评价深度数科集团一体两翼发展的战略模式，对深化合作充满期望；胡芳副会长兼执行秘书长分 享了协会在推动数智化发展方面的探索与实践，对于会员共享、案例宣讲、渠道合作等提出了希望。中财数智化团队介绍了企政通等中调业务产品。 本次交流充分体现了双方在相关领域进一步沟通协作的意愿，对于积极推动建立长效合作机制达成了共识，有助于共同实现助力百万级中小微企业深发展的 企业愿景，此次调研交流加深了相互了解，为加快拓展合作空间、实现资源互补奠定了良好基础。 全传晓董事长分享了集团核心板块、战略规划及经营发展情况，对中财协会引领我国数智化发展的做法表示高度赞赏。相关负责人分别介绍了沂链通供应链 票据公共服务平台的创新发展路径与成效，大集数贸平台建设规划、运营思路与未来展望。 中国企业财务管理协会一行首先参观了集团数字化展厅，直观感受了集团在 ...

Group 1 - The core viewpoint is that CMB International believes that the BD transactions of CSPC Pharmaceutical Group (01093.HK) will be a key sustainable driver for profit growth [1] - The company anticipates that three potential large BD transactions will positively contribute in the short term, leading to a projected revenue growth of 5.8% and a net profit growth of 30.4% for the year 2025 [1] - CMB International has raised the target price for CSPC Pharmaceutical Group from HKD 5.71 to HKD 10.08 while maintaining a "Buy" rating [1]

Group 1 - The core viewpoint of the article highlights that Pop Mart's stock price has increased by over 2% during trading, reaching a new high, with a trading volume exceeding 1.6 billion HKD [1]

做好历史文化遗产保护工作，是杭州这座历史文化名城义不容辞的责任。5月29日，在市十四届人 大常委会第二十七次会议上，《杭州市富阳新登古城墙保护条例（草案）》（下称《条例（草案）》） 首次提交审议。该《条例（草案）》是在《杭州市历史文化名城保护条例》框架下的一部"小切口"立 法。 新登古城墙始建于唐大顺二年（891年），明嘉靖三十五年（1556年）为防倭寇入侵再度筑城，整 体保留明代风格。城墙依山而筑、护城河完整，墙体由条石砌筑，为中国明清城墙申遗项目中唯一的县 城级城墙。2017年起，富阳区先后开展9轮搬迁，把新登古城墙从民宅、厂房等各类建筑覆压中拯救出 来。2023年，新登古城墙入选浙江省第八批省级文物保护名单。2024年，国家文物局批复《中国世界文 化遗产预备名单》，中国明清古城墙（新登古城墙）位列其中。 《条例（草案）》聚焦古城墙保护，围绕管理体制、科学规划、强化保护、合理利用等方面作出了 规定。其中，在强化保护方面，《条例（草案）》从保护标志、墙体保护、景观亮化、绿化管理、环境 整治等方面进行规范。例如，明确城墙墙体的城砖、条石、内包夯土、碑石以及古建筑构件等，任何单 位和个人不得买卖。《条例（草案） ...

Group 1 - The Hong Kong stock market opened high and saw fluctuations, with the Hang Seng Technology Index and Hang Seng Index both rising over 1%, while the innovative drug concept experienced a volatile increase [1] - The Hang Seng Medical Index ETF (159557) rose by 0.10% with active trading, and several constituent stocks such as Micron Brain Science and Meizhong Jiahe saw significant gains of over 12% and 10% respectively [1] - Bristol-Myers Squibb announced a licensing agreement with BioNTech for the next-generation cancer drug BNT327, with milestone payments potentially reaching up to $11.1 billion, marking BioNTech as the latest international pharmaceutical company to tap into China's innovative drug sector [1] Group 2 - According to Cinda Securities, innovative drugs will remain the main focus of pharmaceutical investments, as China’s innovative drug sector transitions from quantity and speed to quality and innovation, supported by increasing policy backing [2] - Short-term factors affecting overall risk appetite are noted, with a gradual return to performance focus in the market, suggesting tracking companies with commercialized large varieties or those in the CXO and upstream life sciences sectors [2] - The report recommends gradually positioning in domestic demand recovery and self-sufficiency lines as key areas of focus for the next phase [2]

港股中国光大控股(00165.HK)涨超15%，早前投资稳定币巨头Circle。 ...

Group 1 - The Hang Seng Index opened up by 0.53%, with the Hang Seng Tech Index rising by 0.54%. Companies like Hansoh Pharmaceutical and CSPC Pharmaceutical increased by nearly 4%, while NetEase rose by nearly 3% [1] - Cathay Securities reports that the AI industry cycle may lead the Hong Kong stock market upward amid the transition of old and new driving forces. The technology sector is expected to benefit significantly from the AI narrative, with performance likely to accelerate [2][3] - The influx of capital from mainland China is strengthening pricing power in the Hong Kong market, with foreign capital gradually improving its low-position allocation in Chinese assets [2] Group 2 - Morgan Stanley analysts believe that the recent return of global capital is positively impacting the valuation recovery of Hong Kong assets, which still hold high allocation value in the medium to long term [3] - The Hang Seng Index's price-to-earnings (PE) ratio has risen from approximately 7.5 times to the current 10.5 times, aligning with the ten-year average, indicating that valuation recovery is ongoing [3] - The Hong Kong IPO market is expected to see a significant revival in 2025, providing a crucial window for domestic companies to raise foreign capital [3] Group 3 - The Hong Kong stock market is evolving into a global technology capital hub, connecting thriving mainland tech companies with global capital seeking quality targets [4] - The recent trend of A-share companies listing in Hong Kong is driven by a combination of outbound strategies, regulatory conveniences, and improved liquidity in the Hong Kong market [4] - The attractiveness of the Hong Kong market is increasing due to the continuous improvement in asset supply structure and quality, as well as liquidity trends amid the return of overseas capital [4] Group 4 - The Hong Kong government has implemented several supportive policies for the stock market, including lowering stamp duty and optimizing trading mechanisms to enhance market liquidity and attractiveness [5] - Dividend-paying assets are gaining appeal due to their high returns and low volatility, with the ETF interconnectivity system broadening investment channels [5] - Amid global geopolitical conflicts and trade tensions, Hong Kong's dividend indices are expected to become a favored allocation direction for medium to long-term funds due to their resilience and stability [5]

机构：长江证券 研究员：赵刚/杨会强/马健轩 事件描述 经营方面，餐厅销售额增长，公司主动调整定价导致客单价下降。2025 年一季度，公司翻台率3.9 次/ 天，同比持平，同店翻台率4.0 次/天，同比增长0.1 次/天；各区域顾客日均消费均有所下跌，主要系公 司主动调整定价、菜品份量让利消费者，公司整体客单价24.2 美元，同比下降2.8%；餐厅平均每日销 售额1.78 万美元，同比增长1.71%，同店销售额同比增长0.34%。 盈利能力方面，公司让利员工及消费者，利润率有所下滑。2025 年一季度，公司原材料及耗材成本/员 工成本/租金及相关/水电开支占比分别同比+0.47%/+1.42%/+0.46%/-0.14%，员工成本大幅增长一方面是 随着餐厅网络扩张，客流量与翻台率提升下，员工人数增加，另一方面是公司增加了员工福利，提升员 工忠诚度与工作满意度。原材料成本提升则主要是由于公司主动调整菜单、升级产品以及提供更优惠的 价格组合。一季度公司利润率4.1%，同比下滑2.5pct，除上述因素外，还因公司随着餐厅增长，外包服 务费和日常维护费用增加以及短期租赁费用随员工福利投入增加而上升。 门店方面，餐厅网 ...

Group 1 - The Hong Kong Legislative Council officially passed the Stablecoin Regulation Draft on May 21, 2023, following the U.S. Senate's passage of the GENIUS Act on May 20, 2023, indicating a growing regulatory framework for stablecoins in regions like Hong Kong, the U.S., and the U.K. [1] - On June 2, 2023, the Hong Kong fintech sector experienced explosive growth, with the stock price of Lianyi Rong (09959) surging over 15% by the end of the trading day [1]. - Lianyi Rong has proactively positioned itself in cross-border business, having obtained a digital banking license in Singapore in partnership with Greenland Financial, aiming to serve a broad cryptocurrency ecosystem [1]. Group 2 - In 2023, the Monetary Authority of Singapore released a Digital Currency White Paper and launched the "Project Guardian" pilot project, with Lianyi Rong's asset tokenization pilot project being a key component [2]. - Lianyi Rong, in collaboration with Standard Chartered Bank, successfully issued the industry's first trade asset-backed tokenized product, which is now listed on Singapore Exchange's digital bond (sandbox) platform [2]. - In 2024, Lianyi Rong co-founded SuperFi Labs, a DeFi innovation lab aimed at building next-generation consumer products on-chain, focusing on RWA products and DeFi offerings [2]. - With the ongoing boom in the stablecoin market, Lianyi Rong is expected to leverage its deep expertise and innovative capabilities in the digital currency space for greater development opportunities [2].

近日举办的2025年欧洲介入心脏病学大会（EuroPCR）作为全球心血管介入领域最具影响力的学术会议之一，向来是 国际顶尖企业与专家展示突破性成果的核心舞台。 此次会议上，健世科技携两款自主研发产品——LuX-Valve Plus经血管三尖瓣置换系统（TTVR）和JensClip经血管二 尖瓣修复系统（TMVr）的最新临床数据亮相，不仅有力印证了中国结构性心脏病器械正式跻身全球创新前沿，更揭 示了国产高端医疗装备从技术突破到临床验证的完整闭环。 LuX-Valve Plus：破解三尖瓣介入治疗国际难题 LuX-Valve Plus在欧洲临床研究TRINITY的30天随访结果成为会议一大焦点。 作为用于评估该器械在重度三尖瓣反流及外科高危患者中应用安全性及有效性的研究，TRINITY延续了2024年 TRAVEL II研究展现的积极趋势，对于健世科技以及整个结构性心脏病介入治疗领域都极具里程碑意义。 健世科技再次吸引了全球心血管介入领域的目光，海外临床进展再次取得关键性突破。 从临床设计来看，在纳入的161例患者中，76.88岁的平均年龄、9.92%的平均STS评分以及26.85%的心脏起搏器植入 史，这些数据 ...