二、离任对公司的影响 根据《公司法》《公司章程》及相关规定，蔡嵘先生的辞职不会导致公司董 事会成员低于法定最低人数，不会影响公司董事会正常运行，辞职报告自送达公 司之日起生效。蔡嵘先生已按照相关法律法规做好工作交接。 蔡嵘先生在担任公司副董事长期间恪尽职守、勤勉尽责。公司董事会对蔡 嵘先生在任期间为公司经营和发展做出的积极贡献表示衷心的感谢。 特此公告。 股票代码：A 股：600663 股票简称：陆家嘴 编号：临 2025-021 B 股：900932 陆家 B 股 上海陆家嘴金融贸易区开发股份有限公司 关于副董事长离任的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、董事离任情况 上海陆家嘴金融贸易区开发股份有限公司（以下简称"公司"）于近日收到 公司副董事长蔡嵘先生提交的书面辞职报告。蔡嵘先生因工作调动原因辞去公司 副董事长职务，同时辞去董事会审计委员会委员、提名委员会委员、战略决策委 员会委员职务。辞任后，蔡嵘先生将不再担任公司任何职务。 | | | | | | 是否继续 在上市公 | 是否存 在未履 | | ...

陆家嘴（600663）公告，公司副董事长蔡嵘先生因工作调动，于2025年5月26日辞去副董事长职务，同 时辞去董事会审计委员会委员、提名委员会委员、战略决策委员会委员职务。蔡嵘先生辞职后将不再担 任公司任何职务。根据相关规定，蔡嵘先生的辞职不会导致公司董事会成员低于法定最低人数，不会影 响公司董事会正常运行。 ...

美欧关税谈判期限延长至7月9日，此前特朗普威胁6月1日起对欧盟征收50%关税。 美国4月新建单户型住宅销量折合年率增长11%，达到74.3万套，超出经济学家预期，创下2022年2月以 来的最高水平。这一增长主要得益于建筑商推出的降价和销售激励措施，新房市场表现优于二手房市 场。然而，前三个月数据被下修，且房屋库存仍接近历史高位，削弱了乐观情绪。市场分析认为，这一 增长可能更多是一种统计假象，而非需求的真正回升。Pantheon Macroeconomics首席美国经济学家 Samuel Tombs指出，鉴于当前抵押贷款利率仍徘徊在7%附近，未来几个月销售额仍有可能出现下降趋 势。此外，消费者对财务和就业前景的担忧也抑制了购房需求。 ③特朗普威胁：苹果、三星等在美销售的手机若非美国制造 将被征25%关税 特朗普上周五通过社交媒体表示，如果苹果不在美国生产iPhone，将对其征收至少25%的关税。随后不 久又升级了"关税威胁"，称这条规则也同样适用于三星和其它智能手机制造商。特朗普还表示，如果苹 果、三星在美国建厂，将免征关税。受此消息影响，苹果股价上周五收跌超3%，苹果供应链集体下 跌，博通跌近0.8%，高通跌 ...

Core Viewpoint - Shanghai Lujiazui Financial Trade Zone Development Co., Ltd. has successfully reversed its revenue decline in 2024, achieving significant growth in both revenue and net profit after four consecutive years of decline [3][4]. Revenue Growth - In 2024, the company reported a revenue of 14.651 billion yuan, a year-on-year increase of 33.12%, and a net profit attributable to shareholders of 1.508 billion yuan, up 5.31% [4]. - The company’s revenue growth had been negative from 2020 to 2023, with declines of -2.02%, -4.16%, -15.21%, and -9.25% respectively [3]. Business Performance - The real estate sector remains the core of Lujiazui's revenue, contributing 13.312 billion yuan in 2024, while financial services generated only 1.339 billion yuan [5]. - The increase in revenue is attributed to the combination of residential and office sales, as well as the activation of existing assets [5]. Cash Flow Challenges - Despite improved revenue, the company's operating cash flow faced challenges, with a net cash flow from operating activities of 1.316 billion yuan in 2024, a decrease of 88.44% year-on-year [5]. - The decline in cash flow is primarily due to reduced inflows from residential sales compared to the previous year [5]. Market Dynamics - The overall sales performance in the real estate market is under pressure, with Lujiazui's residential property contract sales area dropping by 52% and sales amount decreasing by 49% in 2024 [7]. - The company achieved a total cash inflow of 9.551 billion yuan from property sales, with significant contributions from several key projects [7]. Office Leasing Performance - The office leasing segment experienced a decline, with cash inflow from office business at 3.153 billion yuan, down approximately 10% from the previous year [8]. - The demand for premium office spaces in core areas remains resilient, while non-core areas face higher leasing pressures [9]. Development Strategy - Lujiazui has extended its development focus beyond the Lujiazui Financial City to include areas like Qiantan International Business District and Zhangjiang Science City [10]. - The company aims to optimize its commercial real estate leasing business and enhance resource allocation and management services [10].

Group 1: Apple and AI Development - Apple plans to launch smart glasses by the end of 2026 to capture the augmented reality device market, while halting the development of camera-equipped smartwatches [8] - The smart glasses will feature a camera, microphone, and speaker, capable of analyzing the environment and executing tasks via Siri, including phone calls, music playback, real-time translation, and navigation [8] - The shift towards smart glasses represents a transition from a "screen-centric" to a "perception-centric" platform, aiming to redefine the next generation of human-computer interaction [8][9] Group 2: U.S. Debt and Economic Concerns - The U.S. House approved Trump's tax reform bill, which aims to reduce taxes by over $4 trillion over the next decade and increase the debt ceiling by $4 trillion [2] - Concerns about the sustainability of U.S. debt financing are rising, with the debt-to-GDP ratio nearing 100% and annual interest payments exceeding $1 trillion [3] - The combination of monetary stagnation and fiscal stimulus is reducing the long-term attractiveness of dollar assets, leading to potential depreciation of the dollar and increased demand for gold [3] Group 3: Hong Kong IPO Market - Hong Kong's IPO market raised a total of HKD 145 billion in the past year, a 2.7-fold increase year-on-year, with mainland companies contributing 75% of the financing [6][7] - The A+H dual listing model is becoming a key strategy for companies to optimize financing sources and hedge against external uncertainties [7] - The influx of capital into Hong Kong is driven by stricter regulations in the U.S. and a declining dollar, positioning Hong Kong as a "value discovery platform" for Chinese assets [7] Group 4: Autodesk's Financial Performance - Autodesk reported a 15% year-on-year revenue growth to $1.63 billion for Q1 of FY2026, primarily driven by strong subscription service performance [10] - The company raised its full-year revenue forecast to between $6.93 billion and $7.00 billion, indicating confidence in its cloud strategy and market position [10] - Concerns remain regarding the quality of growth, particularly in the construction sector, and the effectiveness of AI tools in driving user migration and revenue [11] Group 5: Analog Devices' Strong Results - Analog Devices reported Q2 revenue of $2.64 billion, a 22% increase year-on-year, with adjusted earnings per share of $1.85, exceeding expectations [12][13] - The growth is attributed to strong demand for analog chips in the automotive and industrial sectors, as well as the integration of generative AI and electric vehicles [12] - The company maintains a positive outlook for Q3, projecting revenue between $2.65 billion and $2.85 billion, reflecting confidence in its market position [12][13]

Group 1: U.S. Treasury Market and Economic Indicators - The recent auction of 20-year U.S. Treasury bonds showed weak demand, with a winning yield of 5.047%, up 24 basis points from the previous month, and a bid-to-cover ratio of 2.46 [2] - Morgan Stanley's rate strategists predict a significant decline in G10 bond yields next year, suggesting a neutral to overweight stance on most G10 bond markets, including U.S. Treasuries [2] - The 10-year Treasury yield is currently at 4.6%, with both the 20-year and 30-year yields exceeding 5%, indicating ongoing pressure on U.S. debt amid fiscal concerns [3] Group 2: Japanese Yen and Economic Outlook - The Japanese yen is under pressure, with long-term bond yields reaching historical highs, raising concerns about liquidity risks and fiscal policy adjustments [4] - The yen has appreciated by 8.5% since 2025, while the U.S. dollar index has decreased by 8.12% during the same period [4] - Japan's economy is entering a new cycle characterized by rising prices and labor shortages, which may lead to GDP growth beyond the 550 trillion yen mark [4] Group 3: Bubble Mart and Labubu IP - Morgan Stanley initiated coverage on Bubble Mart with an "overweight" rating and a target price of 250 HKD, highlighting Labubu's emergence as a "super IP" [6] - Labubu's sales from the THE MONSTERS series are projected to grow from 3 billion RMB in 2024 to 14 billion RMB by 2027, with overseas sales expected to increase by 152% in 2025 [6] - The company anticipates a compound annual growth rate of 44% in sales and 56% in profits from 2024 to 2027, driven by strong IP and operational strategies [6][7] Group 4: Lowe's Financial Performance - Lowe's reported quarterly same-store sales that exceeded expectations, with a decline of 1.7% compared to a forecasted decline of 2.04% [9] - The company expects total sales for 2025 to range between 83.5 billion and 84.5 billion USD, aligning closely with market expectations [9] - Despite economic challenges, consumer spending on home improvement remains resilient, with a notable preference for smaller projects over larger ones due to high interest rates [9] Group 5: Baidu's Financial Results - Baidu's Q1 revenue reached 32.5 billion RMB, a 3% year-over-year increase, with net profit at 7.7 billion RMB [10] - The "Baidu Core" segment generated 25.5 billion RMB, reflecting a 7% growth, while non-advertising revenue surged by 40% due to AI business expansion [10] - Baidu's autonomous driving service, "Luobo Kuaipao," expanded internationally, achieving a 75% increase in order volume year-over-year [10]

Group 1: Federal Reserve and Market Implications - The Federal Reserve has quietly purchased $43.6 billion in U.S. Treasury bonds, with a significant purchase of $8.8 billion in 30-year bonds on May 8, indicating a form of "invisible easing" despite not officially labeling it as QE [1][2] - Global central bank demand for gold has surged, with 64 tons purchased in March alone, and China accounting for 30 tons, leading to an average monthly demand of 94 tons this year, exceeding previous estimates [1] - Emerging markets, particularly resource-rich Latin American economies, are likely to benefit from the Fed's actions, as evidenced by the significant gains in iShares MSCI Brazil ETF and iShares Latin America 40 ETF, which have risen approximately 25.10% and 24.53% respectively this year [1] Group 2: Japanese Bond Market Challenges - Japan's 20-year bond auction faced its worst results since 2012, with a bid-to-cover ratio dropping to 2.5 and tail spreads reaching the highest level since 1987, causing yields to spike [3][4] - The Bank of Japan holds 52% of the Japanese bond market, raising concerns about who will absorb bonds as the central bank gradually exits its quantitative easing policy [3] - Japan's debt-to-GDP ratio has reached 250%, leading to fears of rising global borrowing costs as the market reacts to Japan's fiscal challenges [4] Group 3: U.S. Biopharmaceutical Sector Outlook - The U.S. large-cap biopharmaceutical sector has underperformed the S&P 500 by approximately 15 percentage points since the tariff announcement on April 2, attributed to tariff uncertainties, supply chain challenges, drug price negotiations, and patent cliffs [5] - Despite these challenges, there is potential for recovery as companies can manage short-term impacts through inventory management and long-term strategies like manufacturing reshoring [5] - The sector's valuation has dropped to historic lows, with a significant discount of 45-50% relative to the S&P 500, suggesting potential investment opportunities as policy clarity improves [5] Group 4: Gold Market Risks and Recommendations - The European Central Bank has warned that the gold market could pose systemic risks to the financial system due to geopolitical pressures and increased demand for gold as a safe haven [7][8] - The total nominal exposure to gold derivatives held by Eurozone investors has reached €1 trillion, with significant risks associated with non-central clearing and cross-border transactions [7] - UBS recommends maintaining gold positions despite the risks, setting a target price of $3,500 per ounce, reflecting the geopolitical risk premium [7] Group 5: Honda's Shift in Electric Vehicle Strategy - Honda plans to reduce its electric vehicle investment from ¥10 trillion to ¥7 trillion (approximately $48.4 billion) due to slowing demand, with expectations that electric vehicle sales will drop from 30% to around 20% by fiscal 2030 [9] - The company will focus on hybrid vehicles, aiming to sell 2.2 to 2.3 million units by 2030 and introducing 13 new hybrid models between 2027 and 2030 [9] - Honda's long-term goal remains to achieve full electrification by 2040, indicating a commitment to sustainable transportation despite current market uncertainties [9]

证券代码：600663 证券简称：陆家嘴 公告编号：临2025-020 900932 陆家B股 上海陆家嘴金融贸易区开发股份有限公司2024年年度股东大会决议公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： ● 本次会议是否有否决议案：无 一、会议召开和出席情况 （一）股东大会召开的时间：2025年5月20日 （二）股东大会召开的地点：上海市浦东新区龙阳路2277号，永达国际大厦裙房二楼多功能会议中心 （三）出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： ■ （四）表决方式是否符合《公司法》及《公司章程》的规定，大会主持情况等。 本次股东大会表决方式符合《公司法》及《公司章程》的规定。 本次股东大会由公司董事长徐而进先生主持。 （五）公司董事、监事和董事会秘书的出席情况 1、公司在任董事9人，出席6人，董事黎作强，独立董事王忠、孙加锋因日程安排冲突未出席本次会 议； 2、公司在任监事4人，出席4人； 3、公司董事会秘书出席本次会议；公司全体高级管理人员按《公司法》及《公司章程》列席本次会 议 ...

接近陆家信托人士向智通财经表示，原董事长黎作强将退休，连同在陆家嘴集团的职务也一并卸任。 智通财经记者 | 张晓云 信托行业高管变动潮持续涌动。近期，沪上两家信托公司董事长变动。 近日，智通财经了解到，海通资管原总经理王岗履新陆家嘴集团副总经理后，近期经股东推荐，拟任陆 家嘴信托董事长，目前任职资格还在相关程序中。 5月19日，上海金融监管局官网发布公告，核准马金上海爱建信托有限责任公司（下称"爱建信托"）董 事、董事长的任职资格，批复日期为5月9日。 王岗新职务 近期，一则王岗拟任陆家嘴信托董事长的消息在信托圈内传开。对此，接近陆家信托人士向智通财经表 示，经股东推荐，但还在程序中，需要经股东会，董事会和监管审批，以上程序现在都还没有完成。 公开资料显示，王岗男，1982年6月出生，中共党员，研究生学历，公共管理硕士。历任上海市青浦区 国家税务局第四税务所副主任科员，中国证监会上海监管局上市公司一处副主任科员、主任科员，中国 证监会上海专员办综合组主任科员、办公室主任科员、调查一处副处长，上海国盛（集团）有限公司资 本运营部副总经理，海通证券风险管理部总经理，上海海通证券资产管理有限公司党总支书记、总经 理 ...

上海市锦天城律师事务所 关于上海陆家嘴金融贸易区开发股份有限公司 2024 年年度股东大会的 法律意见书 地址：上海市浦东新区银城中路 501 号上海中心大厦 9/11/12 层 邮编：200120 电话：021-20511000 传真：021-20511999 上海市锦天城律师事务所 法律意见书 上海市锦天城律师事务所 关于上海陆家嘴金融贸易区开发股份有限公司 2024 年年度股东大会的法律意见书 致：上海陆家嘴金融贸易区开发股份有限公司 上海市锦天城律师事务所（以下简称"本所"）接受上海陆家嘴金融贸易区 开发股份有限公司（以下简称"公司"）委托，就公司召开 2024 年年度股东大 会（以下简称"本次股东大会"）的有关事宜，委派胡晴律师和任荣树律师出席 本次股东大会，并根据《中华人民共和国公司法》（以下简称"《公司法》"）、 《中华人民共和国证券法》《上市公司股东会规则》（以下简称"《股东会规 则》"）、《上海证券交易所上市公司自律监管指引第 1 号——规范运作》（以 下简称"《自律监管指引 1 号》"）等法律、法规和其他规范性文件以及《上海 陆家嘴金融贸易区开发股份有限公司章程》（以下简称"《公司章程》" ...