Core Points - HUTCHMED will announce its interim results for the six months ended June 30, 2025, on August 7, 2025, at 7:00 am EDT [1] - The company will host two webcast presentations for analysts and investors to discuss the interim results, with the English session at 8:00 am EDT and the Chinese session at 8:30 am HKT on August 8, 2025 [2] - Both webcasts will be available live on the company website, with a replay accessible shortly after the events [3] Company Overview - HUTCHMED is an innovative, commercial-stage biopharmaceutical company focused on the discovery, global development, and commercialization of targeted therapies and immunotherapies for cancer and immunological diseases [4] - The company has successfully marketed its first three medicines in China, with the first also approved globally, including in the US, Europe, and Japan [4]

Group 1 - The core viewpoint of the articles highlights the increasing recognition of gold as a valuable investment, attracting a new generation of investors, particularly those born after 1995 [1][2] - The data from JD Finance indicates that investors from the post-90s generation now account for over 50% of gold investors, with Generation Z emerging as a key demographic in gold investment [1] - Investment characteristics of this demographic show a preference for "light entry and flexible operation," with over 60% of transactions involving accumulation gold products, primarily occurring during evening hours [1] Group 2 - JD Finance has established a comprehensive gold trading platform that includes physical gold, accumulation gold, gold ETFs, and gold recycling, emphasizing gold as an important asset allocation dimension [2] - The company plans to upgrade its platform in three main areas: enhancing investor education, improving the product system by collaborating with banks and fund companies, and refining professional service systems for gold investment [2] - The geographical distribution of gold consumption shows Guangdong, Jiangsu, and Zhejiang as the top three regions, with cultural factors influencing their positions [1]

Pipeline and Approvals - Ultragenyx expects Phase 3 data readout for UX143 for Osteogenesis Imperfecta (OI) in 2025[21, 32] - Ultragenyx anticipates completing Phase 3 enrollment for GTX-102 for Angelman Syndrome (AS) in the second half of 2025[46, 49] - The company has a PDUFA date of August 18, 2025, for UX111 for Sanfilippo syndrome (MPS IIIA), with a potential commercial launch in the second half of 2025[63, 67] - Ultragenyx expects to submit a BLA for DTX401 for Glycogen Storage Disease Type Ia (GSDIa) in mid-2025, with a potential launch in 2026[78, 80] Financial Performance and Projections - Ultragenyx projects total revenue to grow by 14-20% in 2025, reaching $640-670 million[93, 95] - The company anticipates Crysvita revenue to be $460-480 million in 2025, representing a 12-17% increase[95] - Dojolvi revenue is projected to be $90-100 million in 2025, a 2-13% increase[95] - Ultragenyx aims to achieve full-year GAAP profitability in 2027, driven by revenue growth, new product launches, and expense management[2, 96, 99] Clinical Trial Results - Phase 2 data for UX143 in OI showed a 67% reduction in annualized fracture rate (AFR) [33] - Phase 3 data for DTX401 in GSDIa demonstrated a statistically significant 41% reduction in daily cornstarch intake at Week 48 (p < 0.0001)[83] - UX111 for MPS IIIA showed >80% of participants reduced CSF HS by 50% in efficacy set[71]

一、行情回顾 市场全天震荡反弹，创业板指领涨。算力硬件股再度大涨，PCB等方向领涨，中京电子、博敏电子、金安国纪等涨停。创新药概念延续强势，塞力医疗、未 名医药、神州细胞等十余股封板。固态电池板块午后拉升，大东南、洪田股份、中一科技涨停。下跌方面，海洋经济概念股展开调整，克莱特跌超10%。个 股涨多跌少，沪深京三市近3300股飘红，今日成交1.33万亿。 二、当日热点 1.PCB板 PCB板今日大涨，中京电子再度涨停，博敏电子、金安国纪等多股涨停。胜宏科技大涨6%，再创历史新高。 | 股票名称 | | 最新价 ◆ | 涨跌幅 = | 涨停时间 ◆ | 换手率 = | 流通市值⇒ | | | --- | --- | --- | --- | --- | --- | --- | --- | | 中京电子 | 12天7板 | 15.60 | +10.01% | 13:53:33 | 38.49% | 90.72亿 | 公司主 | | 002579.SZ | | | | | | | 形机器 | | | | | | | | | 1、公 开拓国 | | 博敏电子 | 3天2板 | 10.41 | +10.04% | 09: ...

Core Perspective - The article discusses the "Shenzhen Urban Circle Ecological Environment Protection Plan (2025-2030)", aiming to achieve an ecological win-win vision of "1+1+1>3" through collaborative environmental governance among Shenzhen, Dongguan, and Huizhou [1][2]. Group 1: Strategic Goals - The plan outlines three strategic positions: to create a model for collaborative governance in the Pearl River Basin, a demonstration of beautiful urban circle construction, and a benchmark for green development in global city clusters [1]. - It emphasizes the need for coordinated cooperation among the three cities due to their geographical and hydrological connections [1]. Group 2: Institutional Framework - The plan establishes a unified cross-regional ecological environment planning management system, breaking traditional administrative barriers and promoting integrated institutional innovation [2]. - It aims to enhance systemic, holistic, and collaborative improvements in ecological environment governance within the urban circle [2]. Group 3: Key Initiatives and Targets - The plan includes 30 key tasks across seven important areas, with 42 key projects proposed to support high-quality development and green low-carbon initiatives [3]. - It sets 18 indicators with specific target values for 2025 and 2030, focusing on collaborative ecological safety and health [2][3]. Group 4: Implementation and Future Plans - Shenzhen will lead the development of supporting implementation plans and establish a dynamic tracking mechanism to ensure the successful execution of the plan [4]. - The plan is expected to serve as a roadmap for ecological cooperation and governance in the Guangdong-Hong Kong-Macao Greater Bay Area, with a comprehensive action plan set for 2024 [4].

南方报业传媒集团（南方日报社）全面启动系统性变革。围绕社会热点、产经重点、国际爆点、文旅视 点和民生关注点，南方报业将重点打造20个新媒体IP，"南都即时"位列其中。 "南都即时"系荣获广东新闻奖一等奖的新媒体品牌栏目，并曾有作品荣获中国新闻奖等多个省部级奖 项，由南方都市报深度调查部运营。"南都即时"以"快"为特色，围绕各类突发事件、社会热点，持续推 出动态、视频、特稿、专题、调查、快评等融媒体产品。 变革不止，创新不停！"南都即时"正通过升级原创新闻产品矩阵，力争通过提供事实增量、强化价值输 出、塑造南都议题，追求舆论场上的独家快讯"首发"、新闻延展"首追"、深度调查"首推"、对外传 播"首见"。 独家快讯"首发" 强化独家新闻采写，持续提供事实增量。南都即时以"快"为核心竞争力，多年来持续从报道热点事件出 发，赢得海内外舆论场首发先机，目前已发稿超46700篇，全渠道分发流量已突破145亿。例如，今年5 月，哈佛大学被禁止招收国际学生持续引发全球关注，南都即时快速跟进，独家采访获得哈佛大学回 应："美国国土安全部相关行为堪称任意武断的行为典范"，抨击美国政府政策混乱，发出独特声音。 建构南都特色话题，理 ...

欣强电子的主营业务是印制电路板的研发、生产和销售。公司印制电路板产品定位于中高端市场，以八层及以上高端PCB为主， 产品均价超过2,000元/ 平方米，处于行业第一梯队。 据招股书，2022年-2024年，欣强电子实现营收分别为8.69亿元、10亿元、9.99亿元；归母净利润分别为8498.39万元、1.32亿元、1.68亿元。 瑞财经 吴文婷 近日，欣强电子（清远）股份有限公司（以下简称"欣强电子"）创业板IPO申请获受理，保荐机构为民生证券股份有限公司，保荐代表人 为曾文强、帖晓东，会计师事务所为普华永道中天会计师事务所（特殊普通合伙）。 | 项目 | 2024年12月 31 | 2023年12月31 | 2022年12月 31 | | --- | --- | --- | --- | | | 日/2024 年度 | 日/2023 年度 | 日/2022 年度 | | 资产总额(万元) | 111,113.68 | 99,579.93 | 98,929.04 | | 归属于母公司的所有者权益(万元) | 83,713.06 | 66.714.59 | 57.975.25 | | 资产负债率(母公司) | 2 ...

瑞财经 吴文婷7月2日晚，时隔三个月，小米创始人、董事长兼CEO雷军佩戴最新发布小米AI眼镜，开 启返场直播，其介绍了小米YU7的订单、交付情况。 雷军在直播中回应了关于YU7大定数据的质疑："当时发布了大定数据后，我们受到了大量的质疑，有 人说是可退的。所谓的'犹豫期'看上去有点故弄玄虚，其实这是所有车厂都在采用的方式。因此，我们 大定量的统计口径和所有车企都是一样的。" 据了解，6月26日，小米首款SUV车型YU7正式发布上市，起售价25.35万元，该款车型上市即取得亮 眼"战报"。小米汽车官微称，3分钟，小米YU7大定突破20万辆。1小时，大定突破28.9万辆。开售18小 时，小米YU7锁单量突破24万辆。 ml 小米汽车 窗 25-6-27 16:11 发布于 北京 来自 Xiaomi 14 Ultra 已编辑 十关注 开售18小时, #小米YU7# 锁单量已突破240000台, 真诚感谢每一位朋友的支持。 (mg EE 22416 同时，其还透露了YU7的用户画像。小米YU7车主的平均年龄约为33岁，比小米SU7用户大三岁；女性 车主的比例为30%，比小米SU7的首销期大概高出4.5%。在小米YU7 ...

Group 1: New Housing Market - The new housing market in Beijing has shown signs of stability, with a total transaction area of 2.67 million square meters in the first half of the year, reflecting a year-on-year increase of 3% [2] - Six new housing projects achieved sales exceeding 4 billion yuan, indicating a strong performance in high-quality improvement properties [2][3] - The high-end segment of the new housing market has seen significant growth, with transactions for properties priced between 10 million to 20 million yuan increasing by nearly 90% year-on-year, raising its market share from 12% in 2024 to approximately 19% [3] Group 2: Land Supply and Transactions - In the first half of the year, Beijing completed 22 residential land transactions, with a total transaction value of 100.56 billion yuan, a year-on-year increase of 37.3% [4] - The land auction market has shown a trend of "volume shrinking but price rising," with several core and high-value plots being sold, indicating strong demand despite reduced supply [4] Group 3: Second-hand Housing Market - The second-hand housing market in Beijing has seen a significant increase, with a total of 88,575 transactions in the first half of the year, representing an 18% year-on-year growth [6] - The majority of buyers in the second-hand market are first-time homebuyers, with over 60% of transactions being for properties priced below 5 million yuan [6][5] - The second-hand market is characterized by a "price for volume" approach, with average prices showing slight declines due to high inventory levels [7] Group 4: Market Outlook - The current reasonable price levels in the second-hand market are expected to maintain stable transaction volumes, with suggestions for policy adjustments to control new housing supply and enhance support for homebuyers [8]

PRAME Franchise & Market Opportunity - Immatics is developing three clinical product candidates (IMA402, IMA203, IMA203CD8) precisely targeting PRAME, an intracellular protein presented on tumor cell surfaces[10, 12] - PRAME expression is prevalent in over 50 cancers[8], with prevalence ranging from 20% in Hepatocellular Carcinoma and Bladder Carcinoma to 95% in Cutaneous Melanoma, Uterine Carcinoma, and Synovial Sarcoma[9] - The addressable PRAME+/HLA-A*02:01+ patient population in the US & EU5 is estimated to be approximately 230,000 per year[20, 24] IMA203 PRAME Cell Therapy (Wave 1) - In a Phase 1 study, IMA203 demonstrated a confirmed objective response rate (cORR) of 56% (18/32) in heavily pretreated patients with metastatic melanoma[34, 45] - The median duration of response (mDOR) was 121 months, with ongoing responses for up to 25+ years[34] - The median progression-free survival (mPFS) was 61 months, and the median overall survival (mOS) was 159 months in all melanoma patients[34, 51] - The SUPRAME Phase 3 trial is actively enrolling patients with unresectable or metastatic melanoma post-ICI, with a planned launch in Q3 2027[35, 59] - Approximately 9,000 PRAME+/HLA-A*02:01+ patients in the US/EU5 with cutaneous and uveal melanoma are addressable[34] IMA203CD8 PRAME Cell Therapy (GEN2) (Wave 2) - IMA203CD8 is a next-generation PRAME cell therapy leveraging CD8 and CD4 T cells, with enhanced pharmacology[24] - In a Phase 1a dose escalation study, IMA203CD8 achieved a cORR of 41% (14/34) at presumably suboptimal doses, with 84% (32/38) of patients experiencing tumor shrinkage[73, 85] - The median duration of response (mDOR) was 92 months, with 3 confirmed responses ongoing at 1+ year[73, 85] - The addressable PRAME+/HLA-A*02:01+ patient opportunity for IMA203CD8 is approximately 75,000 per year, including indications with both high and medium-level PRAME expression[20, 68] IMA402 PRAME Bispecific (Wave 3) - IMA402 is a next-generation half-life extended bispecific primarily targeting first-line settings in combination with ICI and targeted agents[22] - Early signs of clinical activity have been observed, with a melanoma patient achieving a confirmed partial response ongoing at 3 months at DL7[115] - The addressable PRAME+/HLA-A*02:01+ patient population for IMA402 in 1L solid tumors is approximately 145,000 in the US & EU5[20, 100] Beyond PRAME: IMA401 MAGEA4/8 Bispecific - IMA401 is a bispecific targeting MAGEA4/8, with a Phase 1a study demonstrating a 29% (5/17) ORR and 25% (4/16) cORR in patients with MAGEA4/8high expression at relevant doses[132, 149] - The addressable MAGEA4/8+ and HLA-A*02:01+ patient population in the US & EU5 is approximately 62,000 per year[128, 130]