Core Viewpoint - SF Express City (顺丰同城) reported a significant increase in revenue and profit for the fiscal year ending December 31, 2024, indicating strong growth and operational efficiency in the local delivery service sector [1][2]. Financial Performance - The company achieved a revenue of 15.746 billion RMB, representing a year-on-year increase of 27.11% [1]. - Profit attributable to shareholders reached 132 million RMB, marking a substantial increase of 161.8% compared to the previous year [1]. - Basic earnings per share were reported at 0.15 RMB [1]. Revenue Breakdown - Revenue from continuing operations grew from 12.387 billion RMB in 2023 to 15.746 billion RMB in 2024, reflecting a growth rate of 27.1% [2]. - Revenue from same-city delivery services increased from 7.387 billion RMB in 2023 to 9.121 billion RMB in 2024, a growth of 23.5% [2]. - Last-mile delivery service revenue rose from 5 billion RMB in 2023 to 6.625 billion RMB in 2024, showing a growth of 32.5% [2]. Strategic Focus - The company emphasized a strategy of healthy and high-quality growth, focusing on deepening strategic customer partnerships and enhancing business structure [1]. - SF Express City aims to capture diverse market demands by leveraging insights from the local life service industry and providing high-cost performance products and quality services [1]. - The company is committed to optimizing operational costs and improving efficiency through lean operations, reinforcing its competitive advantage in the market [1].

智通财经APP讯，世茂服务(00873)发布截至2024年12月31日止全年业绩，收入78.96亿元(人民币，下 同);毛利15.64亿元。 公告称，2024年全年，世茂服务收获了亮眼的市拓成果，新增年化合同额为14.83亿元，同比上升 28.2%;新增合约建筑面积4310万平方米，同比上升3.4%;新增项目平均物业管理费为2.9元╱平方米╱ 月，同比上升26.1%。 2024年全年，物业管理服务作为世茂服务的核心业务板块，呈现出稳健上扬的发展态势。尽管近年来整 体经济发展面临不少压力，房地产行业也持续低迷，但世茂服务凭借对行业的深刻理解及卓越的经营管 理能力，依旧取得丰硕的成果。 物业管理服务收入实现55.64亿元，同比上升5.1%，主要得益于集团积极开展第三方竞标外拓，新增在 管建筑面积;第三方竞标外拓团队能力突出，业绩优异，新获取项目的质量高于存量项目;集团提升物业 管理服务品质，促进在管项目合同总金额的增加;及世茂集团控股有限公司交付给集团的在管建筑面积 的增加，促进物业管理服务收入的增长。 截至2024年全年，世茂服务在管项目中，住宅项目占比达到63.9%，构成了业务的坚实底盘。在这些住 宅项目里， ...

Core Viewpoint - Zhongsheng Holdings (00881) reported a total revenue of 168.12 billion yuan for the year ending December 31, 2024, representing a year-on-year decrease of 6.2% [1] - The company faced challenges in new car sales, leading to a decline in profitability, while used car sales and after-sales services showed growth [1][2] Financial Performance - Total revenue decreased to 168.12 billion yuan, down 6.2% year-on-year [1] - Profit attributable to equity holders was 3.21 billion yuan, a decrease of 36% year-on-year [1] - Basic earnings per share were 1.35 yuan, with a proposed final dividend of 0.678 Hong Kong dollars per share [1] Sales Breakdown - New car sales revenue was 125.33 billion yuan, a decline of 14.89 billion yuan or 10.6% year-on-year, attributed to a drop in new car sales volume and average selling prices [1] - Used car sales revenue reached 15.42 billion yuan, an increase of 1.43 billion yuan or 10.2% year-on-year, driven by higher sales volume despite a decrease in average selling prices [1] - After-sales service revenue was 22.00 billion yuan, an increase of 1.93 billion yuan or 9.6% year-on-year, mainly due to an increase in service visits [1] Market Dynamics - In 2024, new car sales volume was 485,000 units, slightly down from 502,000 units the previous year, reflecting market volatility [2] - The industry faced challenges with negative gross margins in new car sales due to pricing pressures and delayed manufacturer subsidies [2] - Zhongsheng is focusing on maintaining local business concentration and market share to navigate cash flow issues and optimize brand and regional structures for future growth opportunities [2]

资料显示，金泰能源控股有限公司(HK2728),是香港联合交易所主板上市公司,金泰能源致力于打造具有 竞争力优势的石化产业生态体系,并构建"石化产业+电商平台+供应链金融+上市公司"的产业、互联网、 金融和资本市场相结合的四轮驱动发展模式。金泰能源石化产业生态体系包括油气开采、炼化、仓储、 物流运输、分销和零售等六大业务版块,具备成品油仓储、危化品仓储、成品油批发、危化品运输及进 出口权等多项经营资质,为石化产业链上下游客户提供服务和行业解决方案。聚能网是金泰能源旗下致 力于打造国内领先的石油化工产品采购B2B服务平台。金能汇是金泰能源旗下创新型能源供应链金融服 务平台。 大事提醒 2025年3月31日，披露2024财年年报 3月28日，截至港股收盘，恒生指数下跌0.65%，报23426.6点。金泰能源控股（02728.HK）收报0.026港 元/股，上涨8.33%，成交量20.4万股，成交额4904港元，振幅8.33%。 最近一个月来，金泰能源控股累计跌幅17.24%，今年来累计跌幅7.69%，跑输恒生指数17.54%的涨幅。 财务数据显示，截至2024年6月30日，金泰能源控股实现营业总收入1.17亿元， ...

3月28日，截至港股收盘，恒生指数下跌0.65%，报23426.6点。巨星医疗控股（02393.HK）收报0.108港 元/股，上涨8.0%，成交量203.75万股，成交额21.22万港元，振幅8.0%。 资料显示，巨星医疗控股有限公司是中国领先的高毛利医疗耗材及设备公司之一。集团立足于国内发展 蓬勃的医疗行业,其核心业务专注于高毛利的医疗耗材及设备,即医学影像产品和体外诊断产品。自成立 以来,集团以完善而具系统性的管理制度为后盾,在中国建立广大销售网络,赢得富士胶片、罗氏诊断、碧 迪及赛默飞世尔等国际知名厂商的信任。现时,集团为富士胶片在中国的医用胶片独家生产商,以及罗氏 诊断医疗体外诊断产品在中国最大的经销商之一。集团亦为富士胶片彩色相纸及工业影像产品在中国的 唯一生产商及独家经销商。除此之外,本集团以自家品牌'Yes!Star'制造及销售医疗齿科胶片。巨星医疗 将继续寻找有潜力的并购机会及与行业巨擘建立策略伙伴关系等战略,巩固其强大实力的医疗行业地 位。在可见的未来,集团将进一步扩大在中国高毛利医疗耗材及设备产品行业的市场占有率。 （以上内容为金融界基于公开消息，由程序或算法智能生成，不作为投资建议或交 ...

3月28日，截至港股收盘，恒生指数下跌0.65%，报23426.6点。滨海泰达物流（08348.HK）收报0.475港 元/股，上涨7.95%，成交量2000股，成交额950港元，振幅0.0%。 最近一个月来，滨海泰达物流累计跌幅12%，今年来累计涨幅4.76%，跑输恒生指数17.54%的涨幅。 财务数据显示，截至2024年12月31日，滨海泰达物流实现营业总收入37.1亿元，同比增长1.66%；归母 净利润589.8万元，同比减少80.19%；毛利率0.77%，资产负债率45.21%。 （以上内容为金融界基于公开消息，由程序或算法智能生成，不作为投资建议或交易依据。） 来源：金融界 行业估值方面，工用支援行业市盈率（TTM）平均值为1.8倍，行业中值5.12倍。滨海泰达物流市盈率 24.48倍，行业排名第24位；其他中宝新材（02439.HK）为3.28倍、盛龙锦秀国际（08481.HK）为3.65 倍、万成集团股份（01451.HK）为5.06倍、狮子山集团（01127.HK）为5.18倍、隽思集团 （01412.HK）为5.81倍。 资料显示，天津滨海泰达物流集团股份有限公司(英文缩写TBTL,简称滨海 ...

财务数据显示，截至2024年12月31日，联合能源集团实现营业总收入162.27亿元，同比增长28.93%；归 母净利润14.43亿元，同比增长191.26%；毛利率18.84%，资产负债率49.1%。 机构评级方面，目前暂无机构对该股做出投资评级建议。 3月28日，截至港股收盘，恒生指数下跌0.65%，报23426.6点。联合能源集团（00467.HK）收报0.415港 元/股，上涨9.21%，成交量2.44亿股，成交额9795.27万港元，振幅13.16%。 最近一个月来，联合能源集团累计涨幅4.11%，今年来累计涨幅7.04%，跑输恒生指数17.54%的涨幅。 资料显示，联合能源集团有限公司发挥在石油天然气领域的独特竞争优势,实现跨越式发展,成为香港资 本市场主要油气公司之一。公司持有的石油天然气项目储量潜力巨大,产量连年大幅提升,同时还积极拓 展新能源领域业务。公司拥有一支国际化的高水平生产经营管理团队,奠定了在国际能源市场快速发展 的基础。 （以上内容为金融界基于公开消息，由程序或算法智能生成，不作为投资建议或交易依据。） 来源：金融界 行业估值方面，石油及天然气行业市盈率（TTM）平均值为34.9 ...

3月27日，华领医药(02552)交出了一份令市场瞩目的2024年成绩单。核心产品华堂宁®(多格列艾汀片) 在纳入国家医保目录的首个完整年度，销量同比激增740%，销售收入达2.559亿元(人民币，单位下 同)，同比增长234%。 这一里程碑不仅验证了中国创新药的研发能力和市场潜力，更凸显了华领医药在商业化进程中的战略定 力。叠加第二代GKA临床突破、管线加速拓展及全球化布局提速，公司正从研发驱动加速迈向研发与 商业化双驱动，成为慢病管理和治疗领域的稀缺投资标的。 医保催化：销量放量与市场深度渗透 其他科学证据的积累也为管线拓展注入确定性：华领基于数据收集开展孟德尔随机化研究，预测GKA 或对糖尿病相关重大并发症产生获益，如降低心力衰竭、冠状动脉疾病、记忆力减退和血脂异常等的风 险，公司将据此探索新的临床适应症;同时，公司也在支持一项由研究者发起的研究，以探索多格列艾 汀对患有葡萄糖激酶失活的基因突变(MODY-2)患者的治疗效果;对25mg/50mg新剂型的延伸，有望深入 糖尿病前期干预，探索"治未病"蓝海市场潜力。 智通财经APP了解到，获得医保纳入对创新药企而言，意味着从"市场准入"到"终端放量"的质变 ...

Core Viewpoint - Citigroup expresses increased confidence in the recovery trend of Nongfu Spring's drinking water business by 2025, anticipating a return to double-digit sales growth after a year of slowdown, which should restore investor confidence in the company's long-term performance, particularly in the drinking water segment [1][2]. Group 1: Sales and Market Performance - Nongfu Spring's management expects to achieve double-digit growth in overall group sales by 2025, despite a slight downward adjustment in net profit consensus forecasts for 2025 due to lower-than-expected revenue in the second half of 2024 [2]. - The company's market share in the drinking water segment has been recovering since June of the previous year, with strong sales performance in January and February of this year, indicating a clearer recovery path for its drinking water products [1][4]. - The company has maintained healthy channel inventory levels for its drinking water products since the end of Q3 2024, which lays a solid foundation for a significant recovery in 2025 [3]. Group 2: Profitability and Cost Management - Citigroup does not expect a significant year-on-year decline in net profit margin for 2025, projecting that the margin will remain stable due to several positive factors, including improved capacity utilization in the drinking water business and reduced rebate intensity for pure water products [2]. - The management plans to cut expenses related to pure water products in 2025, focusing instead on enhancing the natural water segment, which includes new packaging designs and additional water sources introduced in December 2024 [4]. Group 3: Strategic Adjustments - Following a decline in market share from March to May of the previous year due to negative publicity, Nongfu Spring's management has actively increased rebates to distributors to reduce channel inventory, which has contributed to the recovery of market share since June [4]. - The company intends to retain only one SKU of pure water (550ml) and is not planning to significantly expand its pure water product line, indicating a strategic shift towards natural water products [4].

首先，业务版图的结构性调整成为稳定营收基本盘的关键。 3月26日晚间，山高新能源发布了2024年业绩报告，翻阅过后，笔者认为"惊喜"二字最适合概括这份业 绩。 2024年，山高新能源实现收入44.23亿元人民币；净利润为4.63亿元人民币，同比增长约32%。 值得注意的是，在此之前格隆汇曾发布研报预测，公司2024财年预计实现收入约为44亿元人民币，净利 润约为4.1亿人民币。如此看来，山高新能源这份财报的收入、净利润均超出市场预期。 这也清晰地反映出，即便面临风电光伏限电、交易电价波动等不利因素，山高新能源仍然展现出强劲韧 性，营收实现稳健发展、利润保持快速增长，在行业中表现较为突出。 一、多维驱动下彰显韧性，业绩逆势增长 在笔者看来，营收、净利润之所以能够双双超预期，离不开公司业务结构优化、财务策略升级与运营效 率提升的三重合力。 聚焦到公司两大核心业务，当其光伏发电业务因电网消纳压力导致收入下滑2.3亿元时，其风电业务实 现跨越式发展，对冲了光伏发电业务下滑的影响，为稳定公司的营收做出积极贡献。2024年，山高新能 源风电业务实现收入11.87亿元，同比增长24.2%，在总营收中的占比达到了26.8%， ...