伊朗外长阿拉格齐：昨晚我与E3外交部长和欧盟方面举行了一次联合电话会议。 ...

Core Viewpoint - The company maintains its profit forecast for 友谊时光 (06820) and raises the target price by 71% to HKD 1.06, reflecting a potential upside of 13% based on improved industry valuations and product potential [1] Group 1: Revenue and Profit Forecast - The company expects 1H25 revenue to be between 600-650 million, representing a year-on-year growth of 14%-24%, with profits projected between 38-44 million, indicating a turnaround from losses [1] - The revenue growth is driven by multiple products achieving incremental revenue, particularly from mini-games that attract new users [2] Group 2: Product Performance - Mini-games are revitalizing product performance, with titles like 《杜拉拉升职记》 and 《凌云诺》 achieving significant rankings in popular gaming charts [2] - Established products like 《熹妃传》 and 《浮生》 maintain stable revenue contributions, ensuring a solid profit margin [2] Group 3: Profitability and Cost Management - The company reports an increase in gross margin by approximately 5 percentage points due to a higher proportion of high-margin channel revenue [3] - Cost management is effective, with reductions in R&D and sales expense ratios attributed to AI applications enhancing efficiency and return on investment [3] Group 4: New Game Developments - The new season of 《暴吵萌厨》 launched on July 14, introducing new gameplay and levels, with expectations for user growth and monetization [4] - The company has several games in development, with some already receiving approval, indicating a strong pipeline for future releases [4] - The chairman's commitment to not sell shares in the next 12 months reflects confidence in the company's business and product outlook [4]

7月18日，外交部发言人林剑主持例行记者会。针对长和出售港口相关报道，林剑表示，"我不掌握你说 的情况。关于长和出售海外港口，中国国家市场监督管理总局将依法保护市场公平竞争，维护社会公共 利益。"林剑强调，中方一贯坚决反对利用经济胁迫、霸道霸凌侵犯他国正当权益的行为。（北京日 报） ...

Core Viewpoint - The Chinese government may block the sale of over 40 ports by CK Hutchison Holdings if China COSCO Shipping Corporation does not participate in the transaction [1] Group 1: Company Actions - CK Hutchison Holdings is reportedly selling its ports in Panama, which includes over 40 port facilities [1] - China COSCO Shipping Corporation's involvement is seen as crucial for the completion of this sale [1] Group 2: Government Stance - The Chinese government, represented by the State Administration for Market Regulation, emphasizes the protection of fair market competition and public interest [1] - A strong opposition to economic coercion and bullying tactics that infringe on the legitimate rights of other countries is reiterated by the Chinese authorities [1]

根据最新公告，修订文件将于7月30日或前后由各方签署，并在满足条件后于"重组生效日期"正式实 施。值得注意的是，原定于7月25日召开的股东大会将不再审议该特别决议案。 为推动方案落地，公司设置多重激励与保障机制：合资格持有人同意决议可获1%同意费，同时方案豁 免潜在违约条款，为双方创造共赢空间。此外，重组方案还赋予发行人灵活偿债权，允许其在重组生效 日至2025年9月30日期间，按约定金额提前赎回债券，缓解短期流动性压力。 智通财经APP获悉，7月18日，希教国际控股(01765，担保人)及其全资附属公司Tequ Mayflower Limited(发行人)发布公告，宣布于2026年到期的2.71 亿美元零息可转换债券重组计划已获压倒性通过。 截至伦敦时间7月17日下午4时电子同意期限，占未偿还债券本金总额95.94%的合资格债券持有人通过 电子同意方式已有效同意重组相关的特别决议案，标志着该重组方案正式生效，对所有债券持有人具有 约束力。 回顾此次重组进程，6月份希教国际控股就已与持有超56%债权的专案小组达成可转换债券重组协议的 核心条款，以6.1折方案直接削减债务本金，以改善资产负债表。之后，希教国际控 ...

创新药概念港股午后涨幅扩大，歌礼制药-B涨超17%，乐普生物-B涨超14%，加科思-B涨超13%。 ...

这一热度源于其扎实的泛亚布局。2013 年，李泽楷旗下盈科拓展集团斥资 21.4 亿美元收购 ING 港澳及 泰国保险业务，为富卫集团奠定根基。此后十余年间，集团通过并购将印尼 PT Finansial、越南大东方 （600327）人寿、泰国汇商银行人寿等十余家险企纳入麾下，业务版图从 3 个市场扩展至港澳、日本及 东南亚多国，形成独特的泛亚服务网络。2024 年，东南亚市场贡献超 50% 的新业务价值，成为驱动增 长的核心引擎。 富卫集团的上市表现堪称惊艳。其发行价定为每股 38 港元，总市值达 480.44 亿港元，公开发售部分获 37 倍超额认购，涉及资金 131 亿港元。更值得关注的是，中东主权基金穆巴达拉与日本寿险公司 T&D 附属机构作为基石投资者，合计认购 19.5 亿港元，占 IPO 基础发行规模的 56.2%，足见机构对其发展 潜力的认可。 经营数据印证了富卫集团的成长动能。2024 年，集团年化新保费达 19.16 亿美元，较 2014 年的 3.09 亿 美元增长 5.2 倍；营运利润同比增长 28.6% 至 4.63 亿美元，更实现税后净利润 2400 万美元，成功扭转 此前亏损局面。 ...

Core Viewpoint - Jiujiang Bank has officially connected its "Jiu Yin Digital Chain" platform to the Shanghai Commercial Paper Exchange's supply chain bill platform, becoming the first legal bank in Jiangxi Province to do so, enhancing its service capabilities in supply chain finance [1][2]. Group 1: Platform Connection - The connection to the Shanghai Commercial Paper Exchange's supply chain bill platform is supported by the People's Bank of China and aims to integrate logistics, commerce, information, and capital flows, leveraging the advantages of bills in payment settlements and financing [1]. - The platform provides comprehensive bill services throughout the bill lifecycle, including issuance, acceptance, endorsement, discounting, pledging, guarantees, and maturity handling, which enhances credit transmission for quality enterprises in the supply chain [1]. Group 2: Financial Strategy - Jiujiang Bank focuses on serving the real economy and has established an industrial finance strategy that aligns with local economic development and industrial upgrades, creating a clear product system of "1+2+4+N" [2]. - The bank has customized financial service plans for nearly 30 key industrial clusters, implementing tailored strategies for different counties, industries, chains, and enterprises to provide targeted financial support for small and micro enterprises [2]. Group 3: Innovation and Future Plans - Jiujiang Bank is exploring innovative applications of bills in various industrial scenarios, successfully creating models that integrate bills with sectors such as electronic information, copper processing, healthcare, steel manufacturing, rare earths, and automotive [2]. - The bank plans to leverage its connection to the Shanghai Commercial Paper Exchange's supply chain bill platform to deepen collaboration between finance, technology, and industry, aiming to reshape the industrial credit system and contribute to high-quality economic development [3].

Group 1 - Nvidia announced the resumption of sales of its H20 AI chip designed for the Chinese market, with the U.S. government guaranteeing the issuance of licenses for quick delivery [1] - Nvidia's CEO Jensen Huang introduced a new fully compliant RTX PRO GPU aimed at digital twin AI applications in smart factories and logistics in China [1] - CITIC Securities indicated that the lifting of restrictions on H20 is expected to boost capital expenditure (CAPEX) among leading manufacturers, creating ample investment opportunities in AI infrastructure and applications in the second half of the year [1] Group 2 - xAI, owned by Elon Musk, released the latest version of its AI chatbot, Grok 4, marking the fourth significant iteration since its first model launch in 2023, claiming to be the "world's strongest AI model" [1] - CITIC Jiantou noted that Grok 4's performance improvements are supported by robust computing power, with xAI establishing a supercomputing center in Memphis, Tennessee, equipped with 200,000 Nvidia H100 GPUs by February 2025 [2] - The International Data Corporation (IDC) and Inspur recently reported that China's intelligent computing power is projected to reach 725.3 exaflops in 2024, a year-on-year increase of 74.1%, significantly outpacing the growth of general computing power [2] Group 3 - The Ministry of Industry and Information Technology and other departments released an action plan for the high-quality development of computing power infrastructure, emphasizing the need for a comprehensive supply system and efficient operational capabilities [3] - The plan sets a target for computing power to exceed 300 exaflops by 2025, with intelligent computing power accounting for 35% of the total, promoting balanced development between eastern and western regions [3] - Huajin Securities expressed optimism about the future growth of China's computing power market, recommending attention to companies entering domestic supply chains or possessing relevant technological reserves [3] Group 4 - The Hong Kong stock market saw renewed interest in the computing power sector, with Kingsoft Cloud rising over 12% and Huilyang Technology increasing over 11%, along with gains in several other related stocks [4]

智通财经APP获悉，汇丰银行发布研报，将中国宏桥(01378)目标价从18.5港元上调至20.6港元，维持"买 入"评级。汇丰指出，由于铝价上涨以及成本降低，2025年上半年的盈利表现强劲，这大大抵消了氧化 铝业务的亏损;在下半年，由于需求略有减弱以及氧化铝业务的贡献降低，盈利可能会暂时下降。但对 长期前景持乐观态度，鉴于其稳健的基本面，上调目标价。 对于今年下半年，汇丰表示，在需求出现放缓迹象的同时，铝的基本面总体仍具有支持：下游行业，如 太阳能安装和耐用消费品，显示出放缓的迹象，这可能会对下半年的铝需求和价格产生压力。鉴于2024 年四季度实现创纪录的高铝价所带来的强劲盈利贡献，今年下半年的盈利可能会出现同比和环比下降。 尽管如此，汇丰认为，该行业仍享有多重利好因素：4500万吨的产量上限仍是重要的供应控制措施，持 续的电网投资、电动汽车销量以及出口复苏都为需求提供了支撑。以旧换新补贴仍在发挥作用，尽管其 增量影响可能开始减弱。汇丰预计铝价将受到低库存的支撑。然而，价格和利润的进一步上涨可能需要 强劲的需求以及能源成本的持续下降共同作用。更广泛的"反内卷"政策可能会强化铝产量上限，有助于 维持市场纪律。 ...