东方财富陈果:善用赔率思维,继续把握高低切换
Xin Lang Zheng Quan· 2025-06-29 12:48
本周市场表现强势,超出我们预期。1)短期催化主要来自于分母端。近期联储降息预期提升、人民币 汇率升值及以伊军事冲突趋平稳,特朗普访华预期等因素叠加,边际推升风险偏好。2)谁是增量资 金?主动权益公募新发基金边际回暖、杠杆资金快速跟随,此外从银行板块6月中下旬以来的加速行情 推测,险资资金入市进程也可能有所提速;但ETF、外资未有明显增量。 联系人:陈果/郑佳雯 后续如何演绎?市场表现仍是由资金端/估值端主导。战略上我们保持看多,维持下半年指数"更上一层 楼"的判断,但战术上我们认为短期行情未必会演绎持续急涨,而是依然将呈现一定的震荡特征。机构 中长期资金入市+低利率时代下居民金融资产配置比例提升的趋势是中期逻辑,有望使市场震荡中枢整 体上移,短期脉冲式波动也可能阶段性超市场预期。但当前阶段是否能开启资金的正反馈螺旋仍有待观 察:一是今年以来的结构性行情都未走向持续抱团而是呈现轮动特征,表征资金环境对估值容忍度有一 定约束;二是各方增量资金尚未形成明显合力,更多采取观望、被动跟随策略,而非主动流入;三是除 了内需下滑担忧加剧外,7月中报业绩期、全球贸易环境波动及过于乐观的降息预期能否兑现均存在不 确定风险。 责 ...
日本为何在AI人形机器人竞赛中落伍︱鞠川阳子话养老
Di Yi Cai Jing· 2025-06-29 12:47
政府和企业应加强合作,推动机器人技术的研发和标准制定,解决当前面临的技术和伦理挑战,以实 现"人机协作"的理想护理模式。 过去40多年,日本人口老龄化程度日益加速,老年护理需求激增,护工短缺问题也持续了数十年,迫使 日本政府和企业持续不断地探索新的解决方法。在试验过诸多方案之后,最终把希望寄托在开发制造机 器人来替代人类老年护工的方案上。有2025年的市场研究报告称,日本人形医疗护理机器人市场预计将 在2030年前达到约50亿美元的规模,年均增长率约为15%。 本田汽车在2018年宣布,明星机器人ASIMO在2022年最后一次亮相后退役。主要原因之一是高投资、 无回报,ASIMO每台造价高达250万美元,根本无法成为一个能被一般人买回家做老年护工的机器人, 也无任何实用商业场景落地,无法继续烧钱。 日本政府重金投入,扶持机器人进入医疗护理行业 日本政府也很看重机器人的开发,早在2013年就规划并启动了"机器人新战略",明确指出将在医疗护 理、农业、基础设施等领域推广机器人技术。其中,护理机器人是重点投资对象,日本政府指定24家企 业,拨款23.9亿日元补贴开发护理机器人,帮助老人在房间内移动、如厕等。 在20 ...
紫光国微:紫光集团重整后首度回购已开始实施
Zheng Quan Shi Bao Wang· 2025-06-29 12:45
权益变动前,清华控股持有紫光集团51%的股权,为紫光集团单一控股股东,健坤集团在2009年入股紫 光集团,持有紫光集团49%的股权。 2022年7月,紫光集团重整完成,紫光国微变更为无实际控制人。股权由十家公司按照认缴出资分配, 股权结构显示,智广芯最大股东为建广广铭持股20.22%;河北联合电子持股9.11%,重庆两江建广持股 7.10%。其余股东则包括珠海智广华、智投汇亦,以及智广昌等。 2021年6月,紫光国微完成15亿元可转换公司债券的公开发行,将原计划募投"新型高端安全系列芯片研 发及产业化项目""车载控制器芯片研发及产业化项目"等,变更投向为深圳国微电子实施的"高速射频模 数转换器系列芯片及配套时钟系列芯片研发及产业化建设项目""新型高性能视频处理器系列芯片研发及 产业化建设项目"以及"科研生产用联建楼建设项目"等。 紫光国微(002049)6月29日晚间公告,6月27日公司通过股份回购专用证券账户以集中竞价交易方式实 施了首次回购。回购公司股份数量77.56万股,约占公司目前总股本的0.09%,最高成交价为64.28元/ 股,最低成交价为63.67元/股,成交金额为4961.73万元(不含交易费 ...
控制权变更在即 飞马国际再推大股东业绩补偿方案上会
Zheng Quan Shi Bao Wang· 2025-06-29 12:42
Core Viewpoint - The company, Feima International, is resubmitting a proposal regarding performance commitments to the shareholders' meeting, which was previously rejected, amidst potential changes in control and significant financial implications for the company and its shareholders [1][2]. Group 1: Performance Commitment Proposal - Feima International plans to resubmit the proposal on performance commitments, which involves a compensation amount exceeding 400 million yuan, after it was previously rejected by the shareholders [1]. - The proposal is aimed at ensuring that the current major shareholder, Xinzheng Ding, fulfills its commitment to cover the performance shortfall, which is confirmed to be 437 million yuan [2]. - The proposal was initially made by Xinzheng Ding, which is under the New Hope Investment Group, with a commitment to achieve a total net profit of no less than 570 million yuan for the years 2022, 2023, and 2024 [1][2]. Group 2: Shareholder Meeting Dynamics - The proposal was the only one among several at the 2024 annual shareholders' meeting that did not pass, with 43.8% voting in favor and 55.9% against, resulting in a low participation rate of about 4% of the total share capital [2]. - The reasons for the rejection of the proposal remain unclear, with mixed opinions from the investor community and vague responses from company representatives regarding the dissenting shareholders' views [2]. Group 3: Potential Change in Control - A new variable has emerged as the actual control of Feima International may change, with an investment agreement signed between New Hope Investment Group and a local investment entity, ensuring that the latter will hold at least 66.89% of Xinzheng Ding's shares [3]. - Following the announcement of the potential change in control, Feima International's stock price experienced a significant increase, indicating market optimism regarding the new developments [3].
中百集团双新业态同日落地 食品专营+硬折扣模式开启零售转型新试验
Zheng Quan Shi Bao Wang· 2025-06-29 12:41
Core Insights - Zhongbai Group has launched two new store formats: the FOODMART supermarket and the Xiaobaihui discount store, aiming to explore new retail models [1] - The FOODMART format focuses on a wide variety of food products, with over 65% of its product categories being food-related, while the Xiaobaihui store emphasizes hard discounts on daily necessities, offering prices 20% to 30% lower than market rates [1][5] - The company plans to open around five similar stores by the end of the year, using these locations as experimental grounds for operational experience [1] Store Formats - FOODMART supermarkets are designed to cater to local residents' daily meal needs, featuring a 1,500 square meter layout with a 300 square meter prepared food section [1] - Xiaobaihui discount stores offer a comprehensive range of products at competitive prices, with examples including fresh fish priced 25% lower than market rates and various snacks and beverages at significant discounts [5][9] Strategic Direction - Zhongbai Group is focusing on multi-format innovation, having already transformed over ten large warehouse stores since last year, resulting in overall sales and customer growth [9][10] - The company is implementing a "one store, one strategy" approach to enhance profitability and is actively closing underperforming stores while expanding its online business [10] - Future plans include a concentrated procurement strategy and regional adaptation to penetrate the Wuhan and surrounding markets, aiming to provide consumers with cost-effective shopping options [10]
国脉科技进军养老产业:AI与身联网结合解决养老痛点
Zheng Quan Shi Bao Wang· 2025-06-29 12:41
Core Insights - The article discusses how Guomai Technology is leveraging AI and IoT to address challenges in elderly care, introducing the first AI-based home care intelligent system in China [1][2] - The company has developed a large-scale IoT experimental community called "Guomai University Elderly Care," indicating a deepening commitment to the elderly care sector [1][2] Group 1: AI and IoT Integration - Guomai Technology combines IoT technology with AI to create a new model for smart elderly care, enhancing user interaction and providing personalized service recommendations based on real-time data analysis [2][4] - The AI system is designed to monitor physiological indicators and behavioral changes, offering timely health risk alerts and personalized service plans [2][4] Group 2: Intelligent Agents - The company has launched three intelligent agents: one for helping new residents adapt, another for daily living and social activities, and a third for health and safety monitoring [4][5] - These agents can operate independently or collaboratively to address specific needs in elderly care [4][5] Group 3: Human-Centric Design - The AI intelligent agents utilize non-contact monitoring technology to track vital signs without disturbing the elderly, ensuring a user-friendly experience [5][7] - The system allows family members to monitor their parents' health data with consent, fostering communication and emotional connection between generations [7][9] Group 4: University Elderly Care Model - The "University Elderly Care" concept integrates elderly care with university activities, allowing seniors to participate in courses and community events, thus enhancing their social engagement and sense of purpose [8][11] - This model aims to address the evolving needs of the elderly, focusing on both physical and mental well-being [9][11] Group 5: Industry Transformation - With an aging population projected to reach 310 million by the end of 2024, Guomai Technology aims to drive positive change in the elderly care sector through technological innovation [12][13] - The company recognizes the need for a deeper involvement in the elderly care industry to successfully implement intelligent solutions, leveraging university resources for interdisciplinary collaboration [12][13] Group 6: Talent Development - Guomai Technology has established a nursing and health college, training nearly 1,500 professionals in elderly care services, thereby addressing the demand for skilled personnel in the industry [13] - The practical applications and data from the elderly care sector will enhance educational programs and research, creating a beneficial cycle of innovation and talent development [13]
6月30日上市公司重要公告集锦:龙旗科技已向香港联交所递交H股发行上市申请
Zheng Quan Ri Bao· 2025-06-29 12:40
成都先导:终止收购南京海纳医药科技股份有限公司约65%股权 紫光国微:6月27日以4961.73万元回购77.55万股公司股份 重要公告 龙旗科技:已向香港联交所递交H股发行上市申请 新乳业:控股股东拟减持不超3%公司股份 德固特:拟购买浩鲸科技控制权股票6月30日起停牌 沪市重要公告 龙旗科技:已向香港联交所递交H股发行上市申请 龙旗科技(603341)公告,公司已于2025年6月27日向香港联合交易所有限公司(简称"香港联交所") 递交了发行H股股票并在香港联交所主板挂牌上市(以下简称"本次发行上市")的申请,并于同日在香 港联交所网站刊登了本次发行上市的申请资料。 秦港股份:秦皇岛市国资委拟减持不超2%公司股份 齐翔腾达(002408)公告,为确保甲乙酮装置的安全、平稳运行,计划于2025年6月30日起对6万吨甲乙 酮装置进行例行停车检修,预计停车检修时间60天,具体复产时间以实际检修时间为准。公司将根据装 置检修改造的时间进度,陆续恢复生产。本次检修期间将减少甲乙酮产品产量,不会对公司全年生产经 营计划的完成及经营业绩产生重大影响。 秦港股份(601326)公告,持股7.12%的公司股东秦皇岛市人民政 ...
一亩田即将在纳斯达克上市 以“沃来采”农产品经纪业务打造“农业链家”
Zheng Quan Ri Bao· 2025-06-29 12:39
近日,北京一亩田新农网络科技有限公司(以下简称"一亩田")在美国证券交易委员会(SEC)公开披 露招股书,股票代码YMT,拟在美国纳斯达克IPO上市。 2025年,已经成立了14年的"古典"互联网公司一亩田通过中美两国监管机构的上市申请备案,备受市场 关注。 十年前,一亩田曾经是中国互联网的明星公司,投资者包括红杉中国、云峰基金、新天域、源码、 DST、顺为、华创、真格、周亚辉、周大福等一线基金及投资人,市场估值在2015年前后一度超十亿美 金,但随着资本泡沫的消退,一亩田归于沉寂。 一亩田即将登陆纳斯达克的消息,重新将人们的目光拉回农业互联网这个广阔的赛道。但是显然,"农 业"这个概念太大,AI育种、现代化种植养殖、化肥农药、农产品流通等等,都包含在"农业"这个广袤 的范畴内,那么一亩田究竟是一家什么公司?在新的时代背景下,一亩田究竟面对何种新的发展机会, 它融资的目的是什么?为什么值得投资者关注? 翻开一亩田的招股说明书,这一连串问题,其实都围绕一个关键词:农产品经纪人。 一提到经纪,大家比较熟悉的就是房产经纪人,相关联的就是类似链家贝壳这样的业务模式。房产经纪 人大家都好理解,首先大多数人生活在城市中, ...
定增加协议转让!钟睒睒看上了锦波生物什么
Bei Jing Shang Bao· 2025-06-29 12:22
Core Viewpoint - The investment by Zhong Shanshan in Jinbo Biological is a strategic move to capitalize on the growth opportunities in the recombinant collagen market, which is expected to see significant expansion in the coming years [7][8]. Investment Details - Zhong Shanshan plans to fully subscribe to Jinbo Biological's private placement fundraising of up to 2 billion yuan through his company, Yangshengtang [1][3]. - Additionally, he will acquire 5% of Jinbo Biological's shares from the actual controller Yang Xia for 1.403 billion yuan [3][4]. - After the transactions, Yangshengtang and Hangzhou Jiushi will hold 5.87% and 4.71% of Jinbo Biological, respectively, allowing Zhong to indirectly control 10.58% of the company [4]. Financial Performance - Jinbo Biological's medical device segment has a gross margin of 95.03%, surpassing that of Kweichow Moutai [5][6]. - The company reported revenues of approximately 3.9 billion yuan, 7.8 billion yuan, and 14.43 billion yuan for the years 2022, 2023, and 2024, respectively, with corresponding net profits of about 1.09 billion yuan, 3 billion yuan, and 7.32 billion yuan [6]. - The stock price of Jinbo Biological has seen a significant increase, with a cumulative rise of 118.33% from January 2 to June 27, 2024, making it the highest-priced stock on the Beijing Stock Exchange [6]. Market Outlook - The recombinant collagen product market in China is projected to grow at a compound annual growth rate of 44.93%, reaching 58.57 billion yuan by 2025 and 219.38 billion yuan by 2030 [8]. - Despite the growth, there are concerns about increased competition in the medical aesthetics sector, highlighted by recent disputes between major players in the industry [8]. Strategic Implications - The investment is seen as a significant step for Zhong Shanshan to expand his footprint in the high-growth health sector, potentially leading to substantial returns [7]. - Jinbo Biological aims to leverage the resources and expertise of Yangshengtang to enhance its product development, industrial production, and market strategies [4][7].
21调查|吴世春协议转让终止,ST路通“宫斗戏”升级
2 1 Shi Ji Jing Ji Bao Dao· 2025-06-29 12:15
Core Viewpoint - The control struggle over ST Luton (300555.SZ) has intensified, with new major shareholder Wu Shichun and existing management clashing over board restructuring, highlighting the complexities of corporate governance in listed companies [2][5]. Group 1: Shareholder Dynamics - Wu Shichun, chairman of Meihua Venture Capital, has been actively acquiring stakes in listed companies, becoming the largest shareholder of ST Luton after purchasing 7.44% of shares for 150 million yuan [6][7]. - The ownership structure of ST Luton has been unstable since its listing in 2016, with multiple changes in controlling shareholders and a trend of declining revenue and net profit [8][9]. - In May, Wu Shichun and other shareholders attempted to challenge the current board by proposing the removal of existing directors and appointing new ones, but faced resistance from the management [9][12]. Group 2: Board Restructuring Attempts - The board of ST Luton has rejected Wu Shichun's proposals to remove directors three times, citing legal compliance and concerns over operational stability [15][18]. - Wu Shichun's attempts to convene a temporary shareholders' meeting were also thwarted, as the board claimed that the proposals violated regulations during the acquisition transition period [16][18]. - The independent directors' positions have been ambiguous, with some supporting the management while others expressed concerns over the board's refusal to submit shareholder proposals [17][18]. Group 3: Regulatory and Compliance Issues - The struggle has drawn attention from the Shenzhen Stock Exchange, which questioned whether the board was improperly limiting shareholder rights [18]. - A dramatic turn occurred when the share transfer agreement between Wu Shichun and other shareholders was abruptly terminated, raising questions about compliance with regulatory requirements [19][20]. - The termination of the agreement has created confusion regarding the recognition of the acquisition transition period, complicating the situation further [22][23]. Group 4: Market Reactions and Implications - As of June 23, Wu Shichun's stake in ST Luton increased to 8.03%, indicating ongoing interest in the company despite the board's resistance [23]. - The events surrounding ST Luton's control struggle serve as a critical case study for corporate governance and compliance in similar companies, emphasizing the need for consensus within regulatory frameworks to avoid detrimental outcomes for all parties involved [23].