Group 1 - The U.S. President Trump announced that Vietnam will impose a 20% tariff on exports to the U.S. and a 40% tariff on any transshipment trade [1] - Vietnam's market will be fully open to the U.S., implementing zero tariffs on U.S. goods [1] - The "Trump Tariff Losers Index" saw a decline of 0.2% after previously rising over 1.6%, with notable stock movements including Rivian down over 2.4% and Wayfair up 5.04% [1] Group 2 - Nike experienced a significant fluctuation, erasing over 3% gains and briefly turning negative [1] - Other companies such as Five Below, Coach, Mattel, and Gap also saw declines, while 3M and Dollar Tree increased by 0.4% [1]

金十图示：2025年07月02日（周三）美股热门股票行情一览（美股盘初） -0.64(-0.42%) +0.43(+1.47%) +0.23(+2.29%) 达美航空 易趣 ZA 艺电 A Delta ebav 398.43亿市值 316.14亿市值 349.32亿市值 158.56 75.78 48.42 -0.49(-0.31%) -0.58(-1.19%) -0.33(-0.43%) 细柯钢铁 诺基亚 爱立信 n i 315.16亿市值 291.70亿市值 286.40亿市值 136.58 5.20 8.49 +2.47(+1.84%) -0.03(-0.51%) -0.06(-0.64%) np 239,47亿市值 沃达丰(US) 福克斯-A FOX 261.74亿市值 249.27亿市值 10.70 55.44 25.50 -0.21(-1.97%) -0.53(-0.95%) -0.01(-0.02%) 西部数据 Pinterest Inc-A (FOX) 福克斯-B 238.07亿市值 229.91亿市值 221.73亿市值 35.19 51.13 63.55 -0.49(-1.39%) -0. ...

金十图示：2025年06月30日（周一）美股热门股票行情一览（美股盘中） 7381.30亿市值 8104.12亿市值 7709.48亿市值 778.84 291.61 96.61 +4.50(+1.57%) +3.38(+0.44%) -0.67(-0.68%) 甲骨文 奈飞 VISA 维萨 6527.81亿市值 6201.90亿市值 5673.33亿市值 353.78 1333.11 220.80 +5.17(+1.48%) +10.56(+5.02%) +9.99(+0.76%) P&G 宝浩 3718.21亿市值 万事达 埃克森美孚 5060.32亿市值 4666.05亿市值 557.27 108.27 158.59 +6.96(+1.26%) -1.11(-1.01%) -1.27(-0.79%) 彈生 美国银行 s 家得宝 一 一 174 3651.46亿市值 3644.82亿市值 3561.45亿市值 151.76 47.28 366.34 -0.65(-0.43%) -2.40(-0.65%) +0.17(+0.35%) ASML 阿斯麦 @ggfag 미디可乐 t | 联合健康 3138.36 ...

金十图示：2025年06月30日（周一）美股热门股票行情一览（美股盘初） 7361.30亿市值 8085.78亿市值 7778.51亿市值 776.73 290.95 97.47 +3.84(+1.34%) +0.20(+0.21%) +1.27(+0.16%) 甲骨文 奈飞 VISA 维萨 6516.46亿市值 6235.43亿市值 5674.61亿市值 353.17 221.99 1333.41 +4.55(+1.31%) +10.29(+0.78%) +11.75(+5.59%) P&G 宝浩 3737.79亿市值。 埃克森美孚 万事达 5046.34亿市值 4669.06亿市值 555.74 108.34 159.43 +5.42(+0.98%) -0.43(-0.27%) -1.04(-0.95%) 美国银行 s | 家得宝 -- 强生 10/1 3661.24亿市值 3656.51亿市值 3575.97亿市值 367.99 151.97 47.48 -0.75(-0.20%) -0.44(-0.29%) +0.36(+0.76%) 联合健康 ASML 阿斯麦 @gggg 可口可乐 - 3128.1 ...

Group 1 - InnoCare (02577) saw a price increase of over 8% after announcing a cornerstone investment agreement with STMicroelectronics Limited, which includes a six-month lock-up commitment for 12.5921 million H-shares [1] - Haotian International Investment (01341) rose over 3%, with a peak increase of over 15% after reporting a revenue of HKD 145 million for the year ending March 31, 2025, a decrease of 16.18% year-on-year [1] - King’s Ray Biotechnology (01548) increased by over 3% following the announcement of receiving approximately USD 214 million in payments under a revised licensing agreement [1] - Lao Pu Gold (06181) surged over 8% after the opening of its new store at Marina Bay Sands in Singapore, which exceeded expectations according to a Morgan Stanley analyst's on-site research [1] Group 2 - Brain-machine interface stocks opened higher, with Nanjing Panda Electronics (00553) up 8.87% and MicroPort NeuroTech (02172) up 4.72%, following Neuralink's recent demonstration of its research and product development [2] - E-Surfing (02550) opened nearly 15% higher after announcing a framework cooperation agreement with a Hong Kong technology company that is a Huawei cloud solution provider [2] - Military stocks continued their upward trend, with AVIC (02357) up 4.69% and China Shipbuilding Defense (00317) up 2.49%, following a government announcement regarding an upcoming military parade featuring domestic equipment [2] - CRO concept stocks saw significant gains, with Zai Lab (06127) up 13.73% and Tigermed (03347) up 6.03% [2] Group 3 - Orange Sky Golden Harvest (01132) surged 50% after announcing the completion of lease terminations for several locations [3] - Three-Six Zero (01530) rose over 3% as UBS recognized the company's strong R&D capabilities following a record licensing agreement with Pfizer worth USD 6.15 billion [3] Group 4 - Fuhong Hanlin (02696) increased by over 6% after the board approved a stock option plan and restricted stock unit plan, pending shareholder approval [4] - Emperor International (00163) saw a drop of over 15% after reporting total revenue of HKD 1.376 billion for the year ending March 31, 2025, a year-on-year increase of 41.47%, but a significant loss of HKD 4.743 billion [4] - Huaxing Capital Holdings (01911) rose over 8% after announcing plans to enter the Web 3.0 and cryptocurrency asset sectors with a budget of USD 100 million over the next two years [4] - Guotai Junan International (01788) increased by over 12% after receiving approval to upgrade its securities trading license to include virtual asset trading services [4] Group 5 - LKK Technology (00558) saw a price increase of over 20% after reporting annual revenue of HKD 5.825 billion for the year ending March 31, 2025, with a significant 24.5% quarter-on-quarter increase in the second half of the fiscal year [5] Group 6 - Ferrari (RACE.US) rose 2.8% after announcing a prototype sailboat set to launch next year, marking its entry into the sailing industry [6] - JinkoSolar (JKS.US) increased by over 4.6% after announcing a record-breaking efficiency for its N-type TOPCon photovoltaic modules [6] - Boeing (BA.US) rose 5.9% as Fitch Ratings reported improvements in production that could stabilize the aerospace sector [6] - Century Internet (VNET.US) surged over 18% after announcing plans to build a 10GW hyperscale data center cluster over the next decade [6] Group 7 - Nike (NKE.US) increased by 15% as the company reported a slowdown in annual sales decline, indicating the effectiveness of its CEO's strategic initiatives [7] - AI healthcare stocks saw collective gains, with Hims & Hers Health (HIMS.US) up over 6.7% and Teladoc Health (TDOC.US) up over 4.4% [8]

01 A股重大调整 6月27日，沪深交易所均发布通知，拟调整主板风险警示股票价格涨跌幅限制比例，由目前的5%调整为10%。该通知尚处于征求意 见阶段，反馈截止时间为2025年7月4日。 截至目前，沪深主板风险警示股票合计有132只，成交普遍低迷。若按照征求意见稿落地，主板风险警示股票涨跌幅空间将有所扩 大。从市值来看，目前主板风险警示股票市值普遍较低，上述132只股票中，近三分之二股票最新市值低于30亿元。从股价方面来 看，主板风险警示股票最新股价也普遍较低，上述132只股票股价中位数不足5元，远低于A股市场股价中位数水平。 02 国常会最新定调！强化企业科技创新主体地位 国务院总理李强6月27日主持召开国务院常务会议，听取关于贯彻落实全国科技大会精神加快建设科技强国情况的汇报，部署健 全"高效办成一件事"重点事项常态化推进机制，审议通过《农村公路条例（草案）》。 中国人民银行货币政策委员会2025年第二季度（总第109次）例会于6月23日召开。当前外部环境更趋复杂严峻，对比2025年一季 度，本次例会在分析外部形势时，将世界经济增长动能由上次例会的"不强"改为"减弱"，并指出贸易壁垒增多；在分析国内面临的 ...

Investment Rating - The investment rating for the textile and apparel industry is "Outperform the Market" [2][6]. Core Insights - The worst period for Nike has passed, with expectations for gradual improvement in FY2026, driven by the "Win Now" strategy and easing tariff impacts [4][5][42]. - FY2025 revenue was $46.31 billion, a 10% decline year-over-year, slightly exceeding Bloomberg consensus expectations [3][8]. - The fourth quarter of FY2025 saw revenue of $11.1 billion, down 12% year-over-year, but better than previous guidance and consensus [5][18]. Summary by Sections Performance and Guidance - FY2025 Q4 revenue exceeded Bloomberg consensus and management guidance, indicating that the worst financial impacts from the "Win Now" strategy are behind [4][5]. - The company expects revenue in FY2026 Q1 to decline in the low single digits, with inventory levels projected to return to healthy levels by the end of H1 FY2026 [4][41]. Regional Performance - Revenue declines were observed across all regions, with the Greater China region experiencing the most significant drop of 20% year-over-year [19][25]. - North America, EMEA, and Asia-Pacific regions reported revenue declines of 11%, 10%, and 3% respectively, all better than Bloomberg consensus [11][19]. Brand and Channel Performance - Nike brand revenue declined by 9%, outperforming expectations, while Converse saw an 18% decline, missing consensus [11][19]. - Direct-to-Consumer (DTC) channels saw a 12% decline, with e-commerce down 20%, while physical stores remained stable [11][19]. Inventory and Margin Analysis - Inventory levels are expected to normalize by the end of H1 FY2026, with significant inventory reduction efforts noted in various regions [12][41]. - Gross margin contracted by 190 basis points to 42.7%, primarily due to inventory clearance and increased discounting [11][23]. Investment Recommendations - The report recommends focusing on high-quality suppliers and retailers within the industry, particularly Shenzhou International and Huayi Group, as well as core retailer Tmall, which is expected to benefit from Nike's recovery [4][42].

Market Performance - European stock indices experienced a broad increase, with the UK FTSE 100 rising by 0.72%, France's CAC40 up by 1.78%, and Germany's DAX increasing by 1.62% [4] - The US stock market also saw significant gains, with the Dow Jones Industrial Average up by 1%, and both the Nasdaq and S&P 500 indices reaching all-time highs [3][2] Technology Sector - Major US tech stocks showed mixed results, with the Nasdaq-100 index rising by 1%. Notable performers included Amazon (+2.85%), Alphabet (+2.20%), and Nvidia (+1.76%), while Microsoft and Tesla saw declines of 0.30% and 0.61%, respectively [6][9] - Nvidia's stock reached a new all-time high, with a market capitalization exceeding $3.8 trillion, maintaining its position as the world's most valuable company [7] Chinese Stocks - Popular Chinese stocks mostly rose, with the Nasdaq Golden Dragon China Index increasing by 0.22%. Century Internet surged over 18%, while other companies like JinkoSolar and Bilibili also saw significant gains [10] Commodity Market - Gold prices fell by over 1%, with London gold down 1.63% to $3,273.335 per ounce, and COMEX gold futures down 1.85% to $3,286.1 per ounce [17][19] - International oil prices also saw slight declines, with ICE Brent crude down 0.52% and NYMEX WTI crude down 0.26% [18] Nike's Financial Performance - Nike's stock rose by 15.25%, marking its largest single-day gain in nearly four years, with a total market value surpassing $106.4 billion [13] - The company's latest quarterly report showed revenues of $11.1 billion, slightly below the previous quarter's $12.606 billion but above expectations of $10.72 billion [15]

Market Performance - US stock markets collectively rose, with the Nasdaq and S&P 500 indices reaching all-time highs. The Dow Jones Industrial Average increased by 1% to 43,819.27 points, while the S&P 500 and Nasdaq both rose by 0.52% to 6,173.07 points and 20,273.46 points, respectively. For the week, the Dow Jones rose by 3.82%, S&P 500 by 3.44%, and Nasdaq by 4.25% [1] - In Europe, the DAX index rose by 1.62% to 24,033.22 points, the CAC40 increased by 1.78% to 7,691.55 points, and the FTSE 100 rose by 0.72% to 8,798.91 points. For the week, the DAX rose by 2.92%, CAC40 by 1.34%, and FTSE 100 by 0.28% [3][4] Individual Stocks - The Nasdaq Golden Dragon China Index rose by 0.22%, with notable gains in Chinese concept stocks. Century Internet surged over 18%, while Daqo New Energy and JinkoSolar rose over 4%. Conversely, Brain Regen fell over 14%, and companies like Xpeng and Tiger Brokers saw declines of over 5% [5] - Nike's stock surged over 15%, becoming a market focus. Despite a significant drop in revenue and net profit for Q4 and the full fiscal year 2025, the performance exceeded market expectations. Q4 revenue fell 12% to $11.1 billion, and net profit dropped 86% to $211 million. For the full year, revenue decreased 10% to $46.3 billion, and net profit fell 44% to $3.219 billion [7][8] Economic Indicators - The US consumer income for May decreased by 0.4%, significantly below the expected growth of 0.3%. Personal spending also fell by 0.1%, contrary to the anticipated increase of 0.1%. However, the consumer confidence index rose sharply from 52.2 to 60.7, marking the largest increase since early 2024 [11] - The core PCE price index for May rose by 2.68% year-on-year, slightly above the expected 2.6%. The month-on-month increase was 0.2%, compared to the expected 0.1% [10][11]

Market Performance - The Dow Jones Industrial Average increased by 1% to 43,819.27 points, while the S&P 500 and Nasdaq both rose by 0.52%, reaching 6,173.07 and 20,273.46 points respectively, with both indices hitting historical highs this week [1][2] - For the week, the Dow Jones rose by 3.82%, the S&P 500 by 3.44%, and the Nasdaq by 4.25% [1] European Market Performance - In Europe, the DAX index rose by 1.62% to 24,033.22 points, the CAC40 increased by 1.78% to 7,691.55 points, and the FTSE 100 gained 0.72% to 8,798.91 points [2][3] - Weekly performance showed the DAX up by 2.92%, CAC40 by 1.34%, and FTSE 100 by 0.28% [2] Chinese Stocks - The Nasdaq Golden Dragon China Index rose by 0.22%, with notable gains in stocks such as Century Internet up over 18%, and Daqo New Energy and JinkoSolar both up over 4% [3] Nike's Financial Performance - Nike's stock surged over 15% despite reporting a 12% year-on-year decline in Q4 revenue to $11.1 billion and an 86% drop in net profit to $211 million [6][7] - For the full fiscal year, Nike's revenue decreased by 10% to $46.3 billion, and net profit fell by 44% to $3.219 billion [6][7] Nike's Strategic Shift - Nike's recent performance was attributed to a transformation strategy that aims to clear outdated inventory and re-establish wholesale partnerships, with expectations for improvement in future performance [7] - The company is launching a new transformation plan called "Sport Offense" to accelerate its "Win Now" strategy and drive long-term growth [7] Federal Reserve and Economic Indicators - Recent U.S. economic data has strengthened expectations for monetary easing, with traders increasing bets on a potential interest rate cut by the Federal Reserve [9][10] - Key economic indicators showed a 0.4% decline in personal income and a 0.1% drop in personal spending for May, both significantly below expectations [10] - The core PCE price index rose by 2.68% year-on-year, slightly above expectations, indicating persistent inflation pressures [10] Precious Metals and Oil Prices - International precious metal futures saw a general decline, with COMEX gold futures down 1.85% to $3,286.10 per ounce and silver down 2.06% to $36.17 per ounce [13] - U.S. oil prices also fell slightly, with the main contract down 0.26% to $65.07 per barrel, reflecting a nearly 12% drop for the week [13]