（文章来源：经济日报） 然而，让闲置资源"忙起来"看似"省钱"，动真格时却并不省心省力。存量资源长期闲置多有难言之隐。 不少闲置资源属于城市中的"边角料"，分布散、基础差，植入新项目面临诸多难点和障碍，如产权复杂 等历史遗留问题较多，整修投入较大等难题。因此，内涵式更新改造离不开政策创新推动的制度保障。 不少城市探索"市区两级协同发力"的工作机制，采用"提级解遗"专窗专办，创新、活用"容缺受理""罚 缴分离"等制度工具逐一化解难题。伴随城市更新开掘深土层，啃下硬骨头，政府部门还需要在土地政 策、金融支持、审批流程等方面进一步创新，创造更利于实际操作的制度环境。 让存量"老家底"焕发增量"新生机"，是一个价值发现和价值再造的过程。其间，建立合理的利益分配机 制和多元参与平台，市场化运作吸引多元主体参与必不可少。多元共治与盈利模式是存量更新可持续发 展的要津，成功的存量更新案例往往结合了本地实际，根据资产特点制定个性化盘活方案，不仅精准响 应居民所求，也让社会资本接盘者有账可算、有利可期。比如地下空间、偏僻地段如何引流，老旧小区 如何对接"银发经济""首发经济"等，全国各地在实践中探索出了各具特色的模式和方法，形 ...

Core Viewpoint - Constellation Brands reported quarterly earnings and revenue that fell short of analysts' expectations, primarily due to the impact of tariffs on aluminum, yet the company remains confident in its fiscal 2026 forecast despite these challenges [1][2]. Financial Performance - The company reported a fiscal first-quarter net income of $516.1 million, or $2.90 per share, a decrease from $877 million, or $4.78 per share, a year earlier [3]. - Adjusted earnings per share were $3.22, slightly below the expected $3.31, while net sales dropped 5.8% to $2.52 billion, compared to the expected $2.55 billion [6]. Impact of Tariffs - The report reflects the beginning of President Trump's tariffs on canned beer imports in early April, alongside increased trade duties on aluminum, which rose to 25% in mid-March and 50% in early June [4]. - Both imported beer and aluminum are vital to Constellation's beer business, which constitutes approximately 80% of the company's overall revenue [5]. Market Reaction - Following the earnings report, shares of Constellation Brands fell more than 1% in extended trading, with the stock having lost over 20% of its value this year due to concerns regarding the impact of higher tariffs on beer demand [2].

Core Viewpoint - Cracker Barrel Old Country Store (CBRL) is positioned as a strong investment opportunity due to significant revisions in earnings estimates, indicating an improving earnings outlook [1][10]. Earnings Estimate Revisions - The current quarter's earnings estimate is projected at $0.78 per share, reflecting a year-over-year decline of 20.41%. However, the Zacks Consensus Estimate has increased by 12.68% over the last 30 days, with three estimates moving higher and no negative revisions [6]. - For the full year, the earnings estimate stands at $3.20 per share, showing a year-over-year decrease of 9.09%. The consensus estimate has risen by 18.33% in the past month, with four estimates increasing and no negative revisions [7][8]. Analyst Optimism - There is a growing trend in estimate revisions driven by increasing analyst optimism regarding Cracker Barrel's earnings prospects, which is expected to positively influence the stock price [2]. - The Zacks Rank system, which categorizes stocks from 1 (Strong Buy) to 5 (Strong Sell), indicates that Cracker Barrel currently holds a Zacks Rank 1 (Strong Buy), suggesting strong potential for outperformance [3][9]. Stock Performance - Cracker Barrel's stock has gained 7.7% over the past four weeks, reflecting investor confidence based on solid estimate revisions and favorable earnings growth prospects [10].

Investors might want to bet on Sage Therapeutics, Inc. (SAGE) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.Individual inv ...

Freshworks Inc. (FRSH) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). An upward trend in earnings estimates -- one of the most powerful forces impacting stock prices -- has triggered this rating change.The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate.The power of a changi ...

IPO上半年受理正式"收官"。 在年报财务数据有效期最后一日，6月30日沪深北交易所集中受理41家拟上市企业的IPO申请。 在今年6月这轮申报潮中，三地交易所单月新增受理企业总数达150家，是去年同期的5倍。不过受理家数增加并不意味着"大水漫灌"，该数据在2023年6月同期受 理家数中占比60%。可以看出，市场在谨慎复苏中寻找新平衡。 伴随上半年落下帷幕，6月IPO受理高峰结束。根据券商中国记者的统计，今年6月共有150家IPO获得受理，较去年同期（30家）实现数倍增长。 深圳一名券商投行人士表示，今年IPO受理情况有所恢复，但与往年相比仍然偏冷。根据记者统计，2022年6月、2023年6月分别有324家、246家IPO企业获得受 理。上述券商投行人士认为，在当前"严把上市关"的基调下，沪深市场IPO受理"盛宴"难以回到过往。 | | 2025年6月 | 2024年6月 | 2023年6月 -2022年6月 | | | --- | --- | --- | --- | --- | | 深交所 | 28 | | 114 | 144 | | 上交所 | 5 | | 72 | 88 | | 北交所 | 97 | 28 ...

Core Viewpoint - The A-share listed companies have shown positive performance in their half-year reports, with a significant proportion of companies expecting profit growth, driven by various factors including international market expansion and cost reduction measures [1][2][3]. Group 1: Performance Forecasts - Out of 26 companies that announced their performance forecasts, approximately 77% are expected to report positive results, with 9 companies anticipating "slight growth," 6 "increased growth," 4 "continued profit," 1 "turning profitable," and 1 "slight decrease" [2][3]. - Companies such as Guangda Special Materials and Shengnuo Bio are expected to see net profit increases exceeding 100% [2][5]. - The industries with the highest concentration of companies expecting positive results include pharmaceuticals, semiconductors, and hardware equipment [2][9]. Group 2: Individual Company Highlights - Guangda Special Materials forecasts a net profit of approximately 200 million yuan, representing a growth of 367.51% [4][5]. - Shengnuo Bio anticipates a net profit between 77.03 million and 94.14 million yuan, with a growth rate of 253.54% to 332.10% [4][5]. - Tai Ling Micro expects a net profit of about 99 million yuan, reflecting a growth of approximately 267% [4][6]. Group 3: Market Trends and Insights - The overall net profit growth of A-share listed companies is expected to continue improving, driven by macroeconomic policies and industry restructuring [8][9]. - Analysts predict that sectors such as consumer services, information technology, and midstream manufacturing will see relatively high profit growth in 2025 [8][9]. - The market sentiment is optimistic, with many institutions recommending an overweight position in the Chinese stock market, anticipating a bull market in both A-shares and Hong Kong stocks [9].

具体来看： 2025年已过半，A股上市公司半年报成绩轮廓渐显。 Wind统计数据显示，截至7月1日收盘，累计26家公司预告了半年度业绩。 1.9家预计"略增"，6家预计"预增"，4家预计"续盈"，1家预计"扭亏"，预喜公司占比约77%； 2.多数预告利润增长的企业在公告中指出，业绩提升主要得益于国际市场的开拓、毛利率水平的提高、产品结构的优化以及降本增效举措的 推进等因素； 3.从个股来看，广大特材、圣诺生物等公司预计归母净利润最大增幅超过100%； 4.从预喜公司行业分布来看，主要集中在医药生物、半导体、硬件设备等行业。 多家公司率先预喜 从业绩预告类型来看，26家公司中，除了前述20家公司预喜外，还有1家预计"首亏"，1家预计"略减"；4家"不确定"。 根据以往经验来看，中报业绩超预期的行业、个股更容易获得资金追捧；业绩高增长、行业高景气度板块有望成为中报行情一个主线；低估且业绩超预期滞 涨龙头弹性更大。 | 证券简称 | 预告类型 | 预告内容 | | --- | --- | --- | | 广大特材 | 预增 | 净利润:约2亿元~2亿元,增长367.51%~367.51% | | 圣诺生物 | 预增 ...

市场主流观点汇总 2025/7/1 报告说明 关 迪 此报告，意在客观反映行业内期货公司、证券公司对大宗商品各品种的 研究观点，追踪热点品种，分析市场投资情绪，总结投资驱动逻辑等。 本报告不构成个人投资建议，仅供公司内部使用，仅作参考之用。 报告中策略观点和投资逻辑是基于所采纳的机构当周公开发布的研究报 告，对于各期货品种的多空观点、交易逻辑进行整理加工汇总而成，收 盘价数据选择上周五，周度涨跌为上周五较前一周五收盘价变动幅度。 期货从业资格证号：F3036000 投资咨询从业资格证号：Z0016090 黄 恬 期货从业资格证号：F03100883 投资咨询从业资格证号：Z0021089 | 【行情数据】 | | | | | | | --- | --- | --- | --- | --- | --- | | 资产类别 | 细分品种 | 收盘价 | | 周度涨跌情况 | | | 数据时点 | | 2025/6/27 | | 2025/6/23 | 至 2025/6/27 | | | 焦炭 | 1421.50 | 焦炭 | | 2.67% | | | 铜 | 79920.00 | 铜 | | 2.47% | | ...

瑞银证券孟磊：A股盈利或逐季温和复苏 金十数据7月1日讯，瑞银证券中国股票策略分析师孟磊认为，在宏观环境稳定的前提下，今年A股盈利 可能逐季温和复苏；短期震荡后，市场有望在中长期迎来上升机遇。他表示，中期来看，任何增量的财 政和货币政策或能在一定程度上提振市场信心，推动A股市场估值提升；同时，中长期资金的持续入市 在中期将为估值的结构性重构提供上行动能。孟磊表示，近年来中国正经历全面的结构性改革，也能逐 步增强投资吸引力，其中外商准入门槛的降低、民营企业活力的激发是中国营商环境结构性改革的重 点。 ...