Core Viewpoint - Alibaba's stock has shown minimal appreciation since its IPO in 2014, currently trading at approximately 1.7 times its initial offering price of $68 per share [1]. Group 1: Investment Philosophy - The investment approach is long-term and value-focused, emphasizing fundamentals such as free cash flow, capital allocation, and downside protection [1]. - The investment strategy is inspired by renowned investors like Warren Buffett and Charlie Munger, focusing on businesses with durable economics and disciplined leadership [1]. - The goal is to understand how a company generates profit, identify risks, and evaluate management's decision-making track record [1]. Group 2: Research and Analysis - The company aims to share clear investment ideas and highlight overlooked opportunities that merit attention [1].

对于优酷体育而言，拿下苏超直播权不仅是顺应流量的听劝之举，更是完善体育内容生态的有益补充。 在体育领域，具备更优成绩或运动表现的运动队和运动员通常更受商业赞助的青睐。然而，这一规律在苏超来说似乎不太适用。 在苏超联赛输得连队名都"显示不全"的川队收获淘宝闪购送上的"丨臂之力"，所剩无几的笔画瞬间因为一个"臂"字充值了17笔。不过，川队下一轮的对手 徐州队丝毫不怂，凭借苏C的车牌代码，徐州得到"选C准没错"的支付宝冠名赞助。支付宝更是在微博向淘宝公开"叫板"："7月20日，你给我小心点！" 更离谱的是，无锡队就因为"无息"的谐音梗，拿下了花呗的赞助。网友直接发话："可以请梅西（没息）当代言人了。"5G网速的花呗也在微博@淘宝和支 付宝："你们要这么唠我可就不困了！"三家直接网上对线，网友直言：到了苏超，连阿里也成散装的了！而随着余额宝正式官宣成为扬州队的官方"攒"助 商，阿里系赞助的球队刚好凑成一桌！ 当然，玩笑归玩笑，来自阿里系的四大品牌集体赞助苏超球队，看中的主要是苏超如今非凡的破圈流量和高关注度。甚至网友们开始呼吁，天猫、饿了 么、菜鸟、夸克等其他阿里系品牌也可以加入到苏超的赞助序列当中。 气氛都烘托到这 ...

图片来源：Pixabay 6月28日，深交所公告称，因保荐人国联民生证券撤回发行上市申请，深交所决定终止开源证券发行上市审核。 2022年7月，开源证券向证监会提交深市主板的IPO申请并预披露招股说明书。2023年3月，深交所受理其IPO申请，次月，深交所向其发出第1轮 审核问询函，但截至目前，开源证券尚未披露问询函的回复。 值得一提的是，自受理以来，开源证券除持续更新招股书外，并没有实质性进展。也就说，从2022年7月至今，开源证券已经排队审核3年左右。 有媒体报道称，开源证券撤回申报材料与更换会计师事务所有关，主要因为国有企业连续聘任同一会计师事务所原则上不能超过8年。开源证券可 能会在2026年择机申报IPO。 更换会计事务所可能只是考虑因素之一，更重要的是，开源证券的业务面临着一定的风险。2024年开源证券收入28.59亿元，同比减少6.61%；净 利润6.95亿元，同比增长12.78%，增利不增收。还因存在违规多项违规行为，被暂停债券承销业务半年。2025年3月，其大连分公司也因违规，被 暂停部分业务半年。 01 依赖陕西市场 资料显示，开源证券总部位于陕西西安，控股股东为陕西煤业化工集团有限责任公 ...

Core Viewpoint - GDS Holdings Limited has successfully priced its China REIT (C-REIT) IPO at RMB 3.00 per unit, with significant oversubscription and substantial gross proceeds expected from the offering [1][2]. Group 1: IPO Details - The C-REIT's final offering price was determined after an institutional bookbuilding process that was 166 times oversubscribed [1]. - A total of 800,000,000 units will be issued, resulting in gross proceeds of RMB 2,400 million [1]. Group 2: Financial Metrics - At the final offering price, the implied EV/EBITDA is 16.9 times based on projected EBITDA for 2026 of RMB 141.8 million [2]. - The implied dividend yield per unit is 5.2% based on projected cash flow available for distribution for 2026 of RMB 124.8 million [2]. Group 3: Transaction and Cash Flow - GDS will sell a 100% equity interest in a project company holding stabilized data center assets for an enterprise value of approximately RMB 2,319 million [3]. - Upon completion of the sale, GDS will receive net cash proceeds of approximately RMB 2,111 million and de-consolidate about RMB 62 million of net debt [3]. - GDS plans to reinvest RMB 480 million to acquire 20% of the units issued by the C-REIT in the IPO [3]. Group 4: Operational Agreement - GDS will continue to manage the underlying data center assets under a services agreement, earning approximately RMB 5 million in recurring annual fee income [4]. Group 5: Company Overview - GDS Holdings Limited is a leading developer and operator of high-performance data centers in China, strategically located in major economic hubs [5]. - The company offers a range of services including co-location, managed hybrid cloud services, and has a diverse customer base including hyperscale cloud service providers and large corporations [5].

Company Overview - Hut 8 is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale[10] - The company manages 1,020 MW of power generation capacity[12, 13] - Hut 8's Q1 2025 revenue was $21.8 million across its segments[13] Business Segments - Power segment revenue was $4.4 million in Q1 2025[13] - Digital Infrastructure segment revenue was $1.3 million in Q1 2025[13] - Compute segment revenue, including Bitcoin mining, was $16.1 million in Q1 2025[13] Strategic Initiatives - Hut 8 has a development pipeline of approximately 10.8 GW of capacity as of March 31, 2025[29, 31] - The company aims to increase its self-mining hashrate to approximately 25.0 EH/s with a fleet efficiency of 16.3 J/TH if it executes its purchase option with BITMAIN[30] - Hut 8 held 10,171 Bitcoin in reserve as of December 31, 2024[35] Financial Performance - The company's operating loss for Q1 2025 was $147.65 million[51, 52] - Net loss for Q1 2025 was $134.319 million[51, 52] - Adjusted EBITDA for Q1 2025 was $(117.696) million[51, 54]

Company Overview - SeaStar Medical is a commercial-stage healthcare company focused on transforming treatments for critically ill patients facing organ failure[5] - The company's SCD therapy targets the upstream source of effector cells and neutralizes effector cells that release cytokines[28] - The SCD conveniently connects with existing continuous kidney renal therapy that is widely available in U S ICUs today[36] Clinical Data and Approvals - QUELIMMUNE is approved by the FDA as a Humanitarian Use Device (HUD) to treat pediatric patients with acute kidney injury and sepsis or septic condition weighing 10 kilograms and requiring kidney replacement therapy[22] - QUELIMMUNE clinical data in pediatric acute kidney injury shows a 77% survival rate at Day 60 compared to 50% with standard of care[42] - In adult AKI studies, 87.5% of pediatric patients had normal kidney function at Day 60[45] Market Opportunity - The total US annual market opportunity for the Adult AKI market is ~$4.5 billion, which is 50 times the size of the Pediatric AKI market (~$100 million)[24] - The adult acute kidney injury population is 50x larger than the pediatric population[18] Financials - As of May 14, 2025, the company has a market capitalization of $13.5 million[69]

Core Insights - Blockmate Ventures Inc's investee, Hivello Holdings, has successfully completed its first Buy & Burn initiative, removing 13.5 million $HVLO tokens from circulation, which is aimed at increasing the token's market value and user rewards [1][5][6] Group 1: Buy & Burn Initiative - The Buy & Burn initiative is funded by Hivello, which allocates a percentage of its quarterly revenue to repurchase and burn HVLO tokens, thereby reducing supply and potentially increasing value [2][5] - The inaugural burn event took place on June 30, 2025, marking a significant step in Hivello's strategy to enhance the long-term stability and value of the HVLO token [4][5] - Hivello's commitment to its community and ecosystem health is emphasized through this initial reduction in supply, which is part of a broader strategy to create a deflationary mechanism for the HVLO token [3][6] Group 2: Company Statements and Future Outlook - Justin Rosenberg, CEO of Blockmate Ventures, expressed optimism regarding the long-term stability and value creation through the Buy & Burn program, highlighting potential rewards for early adopters of the Hivello platform [4][6] - Domenic Carosa, Co-Founder & Chairman of Hivello, stated that the buyback and burn program represents an important inflection point for the company, aiming to build a robust foundation that benefits all participants in the ecosystem [6] - The continuous burning of tokens is expected to contribute to increased scarcity, enhancing the long-term value proposition of HVLO [6]

新华社北京7月2日电 由于又有一名共和党参议员"反水"，美国共和党籍总统特朗普力推的"大而 美"税收与支出法案7月1日以仅1票优势在国会参议院通过表决。 参议院共设100个议席，目前共和党席位占优，先前共和党议员已动用"预算协调"特别程序，允 许"大而美"法案在参议院仅以简单多数而非常规所需的60票支持便可通过。而最终"大而美"法案的确也 是"涉险过关"，这一过程进一步暴露出共和党内部的利益矛盾。 3名共和党议员"反水" 在1日的投票中，代表缅因州的苏珊·柯林斯"反水"。至此，共有3名共和党人与民主党议员一起投 下反对票，导致表决陷入50对50的僵局。为使法案通过，担任参议院主席的共和党籍副总统万斯投下最 后一票，法案才以1票优势通过表决。 3名"反水"的共和党参议员分别是柯林斯、代表北卡罗来纳州的汤姆·蒂利斯和代表肯塔基州的兰德· 保罗。在6月28日参议院的程序性投票中，蒂利斯和保罗投了反对票。蒂利斯批评法案中的医疗补助条 款将使北卡罗来纳州额外承担逾300亿美元的财政负担。保罗批评法案将联邦政府债务上限提高5万亿美 元。 投票结束后，柯林斯发表声明说，她无法接受法案中对医疗补助计划拨款的削减，"在缅因州， ...

01. 中国品牌，全球增长 回看过去二十多年，中国企业从外贸起家，通过代加工实现对外出口，完成了走出去的第一步；接着，进入产品出海时代，中国企业开始根据海外市场特征 铺产品、开分店，以及做跨境电商打通线上渠道；到了第三阶段，越来越多的中国出海企业开始具备品牌意识，并且开始重视海外市场本地化，同时在此基 础上开拓国际化视野，关注全球消费者，并赋予中国产品普世 价值观。 新阶段之下，随着海外市场环境变化，增长议题变得尤为突出，而增长的核心也已经聚焦到品牌价值上。 （二） 内外部因素双轮驱动中国品牌"全球增长" （一）中国品牌出海，正步入"全球增长"阶段 在内外因素的双轮驱动下，中国品牌也在加速实现"全球增长"。 在国际政策法规不确定性及全球用户需求变化等外部因素影响下，中国出海企业亟需通过产品创新打造差异化竞争优势、通过技术升级实现数智化转型，通 过全产业协同增强品牌韧性，从而实现新一轮全球价值增长。 （三） 中国品牌全球增长外部因素：国际政策法规不确定性+全球市场供需关系变化 | | 美国零售商 | | 4月 可用还签 最高对等税率 | | | · 终端售价与出口成本: | | --- | --- | --- ...

Company Overview - USANA Health Sciences is a global leader in health and wellness products, focusing on social wellness as a key component of its business strategy since its founding in 1992 [8] - The company operates in 25 countries, emphasizing clear communication to build trust with customers and distributors [8] Leadership Insights - Kevin Guest, the Executive Chairman of USANA, emphasizes the importance of personal freedom and self-care, encouraging individuals to take control of their independence [2][6] - Guest's book, "All the Right Reasons: 12 Timeless Principles for Living a Life in Harmony," outlines principles for achieving personal empowerment and harmony [2][5] Principles for Personal Empowerment - Guest identifies five key actions to celebrate personal freedom: releasing limiting beliefs, overcoming self-doubt, leaving toxic relationships, defeating loneliness, and prioritizing self-care [7] - The essence of freedom is described as inspiring joy, cultivating confidence, and transforming lives [6] Social Responsibility - Proceeds from Guest's book are dedicated to feeding hungry children, with each purchase providing 40 meals, highlighting the company's commitment to social responsibility [6]