Core Viewpoint - The sales of the COVID-19 drug Xianoxin from Xiansheng Pharmaceutical have significantly increased since May, with notable growth in both year-on-year and month-on-month comparisons, although specific figures have not been disclosed [1] Sales Performance - Sales growth in early April was primarily driven by regions such as Shanghai, Zhejiang, Beijing, and Jiangsu [1] - Sales in Guangdong began to rise in early May, contributing to a substantial overall increase in sales since then [1] - As of now, Xianoxin has reached 32 provinces, 371 cities, and over 3,700 medical institutions across the country [1] Market Context - The latest report from the Chinese Center for Disease Control and Prevention indicates an upward trend in the positive rate of COVID-19 tests from March 31 to May 4, with southern provinces showing higher positivity rates compared to northern provinces [1] - Some provinces that experienced an early increase in positivity rates are seeing a slowdown in the growth of the epidemic [1]

华南城(01668.HK)：于2025年5月19日的高等法院聆讯上，高等法院下令将呈请的清盘聆讯押后至2025 年8月11日。 ...

Group 1 - The core viewpoint of the articles highlights that despite concerns over a price war in the food delivery market, SF Express's subsidiary, SF Tongcheng, has seen a significant stock price increase of over 30% since May 8, with a maximum increase of over 41%, positioning it as a leader in the instant delivery sector [1] - The competition in the instant retail market, valued in trillions, has created opportunities for third-party instant delivery platforms like SF Tongcheng, which operates independently from any commercial platform and efficiently handles orders from major platforms such as Douyin, WeChat, and Alibaba [1] - SF Tongcheng maintains the highest market share among key accounts (KA clients) in the industry, collaborating with leading brands like McDonald's, KFC, and Starbucks, and is expected to add over 7,500 new KA client stores in 2024, indicating a strong preference for independent logistics by merchants [1] Group 2 - The company has demonstrated robust and sustained profitability, with a 27% year-on-year revenue growth to 15.7 billion yuan in 2024, a doubling of net profit, and an increase in gross margin to 6.8%, making it the only company to achieve continuous profitability since mid-2023 [1] - Analysts from Guohai Securities note that the local lifestyle market is experiencing significant flow diversification, and the company's strong brand and leadership position in instant delivery are expected to enhance its market share while benefiting from economies of scale [2] - Data from Questmobile indicates that the average daily usage of SF Tongcheng's rider app increased by 40% year-on-year in April, suggesting that demand for instant delivery services is likely to exceed expectations due to growth in food delivery and last-mile delivery needs [2]

于2025年5月16日，本集团与恺英网络签订三年(2025年至2027年)游戏产品合作备忘录(游戏产品合作备 忘录)。该产品合作备忘录涵括的IP及游戏产品，不仅包括在延续经典IP上开发的新游戏，如：《龙腾 传奇》《王者传奇2》《虎卫战神》等"传奇"IP游戏、《新月大陆》《代号：高清》等"奇迹"IP游戏、 《热血江湖：觉醒》等"热血江湖"IP游戏、开放世界大型3D游戏《斗罗大陆：诛邪传说》等"斗罗大 陆"IP游戏等，还包括如"笑傲江湖""射鵰三部曲"("射鵰英雄传"、"神鵰侠侣"、"倚天屠龙记")在内的"金 庸武侠"IP。 消息面上，中旭未来发布公告，兹提述本公司日期为2025年2月26日的自愿公告，本公司间接全资附属 公司香港远达未来有限公司(远达未来)与恺英网络股份有限公司(002517.SZ)(恺英网络)附属公司杭州恺 兴网络科技有限公司(杭州恺兴)签订合作备忘录，拟共同投资杭州极逸人工智能科技有限公司(极逸人工 智能)，共同推进AI大模型技术在游戏领域的发展。 于2025年5月16日，远达未来与杭州极尚创新企业管理合伙企业(有限合伙)及杭州恺兴正式订立投资协 议，共同投资杭州极逸，总代价为现金人民币10 ...

北森控股始终坚持长期主义,高度重视公司在环境、社会及治理(ESG)方面的管理和履责表现,持续将ESG 理念融入企业运营和发展的各个环节。公司积极推进ESG 治理架构的建设和运行,加强对ESG 实践的监 督和管理,提升ESG 风险评估和应对能力,不断筑牢公司可持续发展坚实底座。 公司不断精进面向未来的产品研发创新,以"业人一体,为员工而设计"为产品理念,以AI等先进科技力量为 助推器,支持各行各业建立有韧性的人才管理体系和多元平等的人才文化,助力客户实现商业价值与社会 价值的双赢,赋能客户可持续发展能力建设。 关于北森 北森是中国最大的云端人力资本管理(HCM)解决方案提供商,也是中国唯一一家已构建统一开放的PaaS 基础设施的云端HCM解决方案提供商。公司的平台iTalentX为企业提供云原生SaaS产品(即云端HCM解 决方案),以帮助企业高效地招聘、测评、管理、发展及留用人才。iTalentX是业内首个也是唯一一个提 供全套云端应用的平台,涵盖企业在员工全生命周期的HCM需求。凭借选择广泛且不断增长的、具有适 配性和强可及性的HCM解决方案,公司始终在引领企业智能化及优化人力资源管理方面处于领先地位。 5 ...

Core Viewpoint - The report from CICC indicates that the core business of Fourth Paradigm (06682) is growing faster than expected, leading to an upward revision of revenue and adjusted net profit forecasts for 2025 and 2026 [1] Group 1: Financial Performance - In Q1 2025, the company reported revenue of 1.077 billion yuan, a year-on-year increase of 30.1%, with a gross profit of 444 million yuan, also up 30.1%, maintaining a gross margin of 41.2% [2] - The revenue structure is increasingly concentrated on core businesses, with the AI platform revenue reaching 805 million yuan, accounting for 74.8% of total revenue, compared to 60.6% in Q1 2024 [3] Group 2: Research and Development - The R&D expense for Q1 2025 was 368 million yuan, a year-on-year increase of 5.7%, with an R&D expense ratio of 34.2%, down 8 percentage points, indicating improved efficiency from prior investments [4] Group 3: Strategic Initiatives - The company is expanding its AI agent applications across multiple industries, with a focus on finance, energy, transportation, and manufacturing, and has launched a new consumer electronics division to provide AI-based hardware and software solutions [5]

数据显示，2024年白酒行业营收和净利润增长降至个位数，2025年一季度复苏增长更是缓慢，营收和净 利润同比增长仅为2.3%和2.6%。 珍酒李渡作为白酒资本市场新势力，于2023年4月27日在港股成功上市，成为近9年来唯一上市白酒企 业。上市首年，珍酒李渡凭借出色业绩，在白酒上市公司中排名第九。2024年，面对行业深度调整，珍 酒李渡继续保持第九位次，验证了企业强大的经营韧性和抗风险能力。 核心指标增长亮眼 当前，在消费预期转弱与行业持续分化的双重压力下，白酒行业整体承压前行，微增长、稳增长成为行 业基本面。 回顾新中国酒业历史，江山代有才人出，曾几次城头变幻大王旗，经历过泸州老窖时代、汾酒时代、五 粮液时代，再到现在茅台时代。 尤其近年来，白酒行业进入深度调整期，市场竞争愈发激烈。在中国白酒上市企业TOP10榜单中，不仅 前三宝座竞争激烈，前十阵营同样打响"攻守战"，有的企业凭借优势强势入榜，也有企业黯然退场。 | | 中国自酒上市企业TOP10 | | | --- | --- | --- | | 非名 | 2023年 2024年 | | | 1 | 贵州茅台 贵州茅台 | Controller of t ...

四年长跑，绿茶集团终于在第五次冲击上市成功。 5月16日，绿茶集团正式以"6831"为股票代码在港交所主板挂牌上市，发售价为每股7.19港元。 上市首日平开，当日收盘报6.29港元/股，跌12.52%，总市值42.36亿港元。今日开盘继续下跌，截至发 稿股价下跌2.7%。 出品丨搜狐财经 作者丨柴鑫洋 编辑丨李文贤 招股书显示，2022年-2024年，绿茶集团的收入和净利润均逐年增长，营收分别为23.75亿元、35.89亿 元、38.38亿元；同期净利润分别为1657.9万元、2.96亿元和3.50亿元。 绿茶餐厅虽然业绩在增长，但餐厅的翻台率、同店销售额却在下滑。数据显示，2024年翻台率由2023年 的3.30次/日下降至3.00次/日。 绿茶餐厅在2024年的平均同店销售额为1033万元，同比下滑10%。 中国食品产业分析师朱丹蓬向搜狐财经表示，绿茶餐厅如今在资本市场中的表现在意料之中。 他提到，"绿茶餐厅的客单价虽然不高，但产品并没有太大特色，外界给它的定义是一家预制菜餐厅。 绿茶餐厅没有品牌效应、规模效应以及粉丝效应。" 绿茶集团IPO前夕暗盘遇冷，2024年营收38.38亿元 根据富途暗盘数据，5 ...

Core Viewpoint - The overall performance of the home furnishing industry is declining, and even leading functional sofa company Man Wah Holdings is not immune to this trend, reporting a decrease in revenue and profits in its 2024 financial year [1] Financial Performance - Man Wah Holdings reported a revenue of HKD 16.902 billion for the fiscal year 2024, a year-on-year decline of 8.2% [1] - Gross profit decreased to HKD 6.844 billion, down 5.57% year-on-year [1] - Operating profit fell to HKD 2.824 billion, a decline of 7.74% [1] - Profit attributable to equity holders was HKD 2.062 billion, down 10.4% year-on-year [1] Domestic Market Performance - The domestic market saw a significant revenue drop of 17.2%, with sales revenue of HKD 9.927 billion [3] - Sofa sales in the domestic market decreased by approximately 10.6%, leading to a revenue decline of 15.4% to HKD 6.584 billion [2][3] - The company sold 1.885 million sofas, a slight decrease of 0.9% year-on-year [2] Product and Business Segmentation - The main product line remains functional sofas, contributing approximately HKD 11.743 billion, accounting for 68% of total revenue [2] - The company has five business segments, with sofas and related products being the core segment [2] Overseas Market Recovery - The overseas market revenue reached approximately HKD 6.666 billion, an increase of 8.33% year-on-year [5] - North America contributed HKD 4.42 billion, up 3.17%, while Europe saw a revenue increase of 19.24% to HKD 1.58 billion [5] - The company exported approximately 884,000 sofas to overseas markets, a year-on-year increase of about 13% [5] Strategic Initiatives - The company is expanding its domestic store network, adding 131 new stores, bringing the total to 7,367 [4] - Man Wah Holdings aims to leverage government policies like "trade-in for new" to stimulate consumer demand [4] Challenges and Risks - The company faces challenges from a competitive domestic market and rising costs due to increased shipping and port fees, which rose by 31% to HKD 771 million [7] - The ongoing geopolitical tensions, particularly related to the Ukraine situation, pose additional risks [7] - The company is adapting to changes in international trade policies, particularly U.S. tariffs, and is focusing on maintaining its market position in North America and Europe while exploring new growth opportunities in emerging markets [7]

随着消费类企业不断登陆资本市场，资金对这些企业的认可力度正不断加大，这一点亦可在舒宝国际(02569)身上一窥究竟。 5月15日，舒宝国际午后强势拉升，从早盘的一个多点涨幅拉升至午盘的十几个点，而后愈走愈高，一度涨逾23%，截止收盘其股价大 涨22.22%至0.88港元。而拉长时间线来看，自5月6日以来其股价已经累涨超43%，而自上市(3月27日)以来，其股价则累涨超75%。 该公司作为晋江系企业，叠加"出海+母婴"概念，符合港股当下对高增长新兴消费股的偏好。其上市后股价持续攀升，反映市场对细分 赛道龙头的估值溢价。 2025年以来，消费类企业迎来上市高潮。以新式茶饮品牌为例，前有古茗、蜜雪集团分别于2月、3月赴港上市，后有霸王茶姬4月赴美 上市、沪上阿姨5月在港上市。不仅如此，港股市场还有纽曼思、布鲁可、舒宝国际等消费类企业完成上市。这里面，不少已上市和新 上市的"新消费"类企业股价均在强势上扬，反映出资金对这类企业的关注度正不断提升。 那么，搭上这一新概念的舒宝国际，投资价值究竟如何? 业务结构调整显著，营收增速放缓 据悉，舒宝国际成立于 2010 年，总部位于福建晋江，核心业务为一次性卫生用品的研发、生 ...