每经记者 章光日 每经编辑 吴永久 数字政通2023年以来员工持股计划连续解锁失败，2024年业绩考核目标为净利润不低于4亿元，但实际却大亏近4亿元！每经资本 眼记者注意到，2024年数字政通的亏损主要集中于第四季度，单季度亏损超过4亿元。从2024年9月份开始，公司高管也开始组团 减持公司股份。此外，数字政通实控人还在筹划大笔转让所持股份。 身处热门的数字经济赛道，数字政通的业绩表现为何如此惨淡？公司高管为何在2024年第四季度集中进行减持？实控人转让股份 进展到了哪一步？接下来每经资本眼记者就来详细探究一番。 连续两期员工持股计划解锁失败 下游客户预算吃紧或为业绩下滑主因 4月22日晚间，数字政通发布了关于2023年员工持股计划第二个解锁期业绩考核目标未达成的公告。该公告显示，第二个解锁期的 业绩考核为2024年公司净利润不低于4亿元，而2024年公司实现净利润为亏损约3.96亿元。 每经资本眼记者注意到，数字政通2023年员工持股计划第一个解锁期业绩考核目标同样未达成。相关公告显示，第一个解锁期的 业绩考核为2023年公司净利润不低于3亿元，而2023年公司实现净利润约为1.34亿元。 2019年至20 ...

Core Viewpoint - Rebate Technology (600228.SH) announced that its stock will be subject to delisting risk warning, with trading suspension on April 25, 2025, and the stock name will change to *ST Rebate starting April 28, 2025 [1][2]. Financial Performance - For Q1 2025, the company reported revenue of 53.6 million yuan, a year-on-year decline of 21.9% [3]. - The net profit attributable to shareholders was a loss of 13.98 million yuan, a year-on-year decrease of 940.4% [3]. - The non-recurring net profit attributable to shareholders was a loss of 14.17 million yuan, a year-on-year decline of 956.0% [3]. Company Overview - Founded in 2007 and headquartered in Shanghai, Rebate Technology operates the well-known rebate platform Rebate Network and the Rebate APP [3]. - The company has partnerships with over 400 malls and platforms, and more than 50,000 brand merchants, including major e-commerce platforms like Tmall, Taobao, JD.com, and Apple [3]. - As of the end of 2024, the Rebate APP had 266 million registered users [3]. Stock Performance - As of the close on April 24, 2025, Rebate Technology's stock price fell by 6.70% to 3.62 yuan [4].

齐鲁晚报·齐鲁壹点 樊伟宏 通讯员 刘超 孙小雯 董明月 在淄川这座充满活力的城市里，孙强的创业故事正悄然上演。 孙强是一名退役军人，多年来凭借军人的坚毅与果敢，他精心经营的企业逐步走上正轨。近期，为了抢 抓市场机遇，企业启动了投资扩产计划，可资金短缺难题却让他忧心忡忡。 抱着试一试的心态，他拿出手机扫描了"淄川金融惠企智能小助手"二维码。屏幕上很快弹出一个简洁的 对话界面，孙强认真地输入："我一名退役军人，我的企业正在投资扩产，急需资金，请问有适合我的 贷款产品吗？"消息发送后，孙强心里既期待又怀疑，这样简单的提问真的能得到有效回复吗？ 紧接着，平台给出了详细的分析和建议，针对他的自身条件以及具体需求推荐了相应的贷款产品。 当"军享贷"这款纯信用、免担保、利率低的贷款产品出现在对话框中的时候，孙强瞬间被吸引了，这不 正是自己梦寐以求的解决方案吗？他当即拨打了客服经理的电话，去银行进行了办理，很快贷款就成功 获批，为孙强解决了融资的燃眉之急。这是淄川区借助DeepSeek助力市场主体精准融资的一个成功案 例。 信息不对称是中小微融资难、融资贵的一大成因。 企业端困于金融信息不足，面对众多的贷款产品容易"挑花眼 ...

Group 1 - The analysis of financial fraud samples indicates that the communications services industry has the highest proportion of fraud cases, while the financial and utilities sectors have the lowest [3][18]. - From 2010 to 2018, the number and proportion of fraudulent companies increased from 7.5% to 17.9%, but there was a decline after 2019, reflecting stricter regulations following the revision of the Securities Law [3][18]. - Approximately 58.3% of fraudulent activities are exposed or terminated within 1-2 years, suggesting that systemic fraud is difficult to maintain over the long term [3][18]. Group 2 - A feature pool was constructed based on structured financial data from listed companies, retaining 100 indicators from an initial 378, which included 5,483 fraud samples and 42,046 control samples [3][26][28]. - The feature pool covers eight dimensions, including solvency, operational ability, profitability, development ability, ratio structure, risk level, cash flow analysis, and per-share indicators [26][28]. - The model's performance improved with the inclusion of sentiment tone factors, enhancing recall rates and reducing Type II errors, indicating the importance of sentiment analysis in identifying financial fraud [3][48][56]. Group 3 - The sentiment tone factor was constructed using the DeepSeek R1 model to analyze financial report texts, revealing that companies involved in fraud generally have lower sentiment scores compared to normal companies [3][39][40]. - Emotional contradictions, vague expressions, and industry anomalies are identified as risk signals through sentiment analysis, which can indicate potential fraud [3][39][40]. - The sentiment analysis captures non-structured risk clues, helping to identify discrepancies between positive financial data and negative sentiment [3][39][40]. Group 4 - The report highlights that the communications services, energy, and financial sectors were the most affected by fraud from 2010 to 2018, with the communications services sector's fraud rate increasing significantly during this period [22]. - Information disclosure violations have become the mainstream method of fraud, with significant omissions and false records being the most common types of violations [22]. - The report notes that the real estate sector maintained a high fraud rate of 15.5% in 2022, indicating ongoing issues with financial misrepresentation in the industry [22].

With just one subscription to Beyond the Wall Investing , you can save thousands of dollars a year on equity research reports from banks. You'll keep your finger on the pulse and have access to the latest and highest-quality analysis of this type of information.Nvidia Corporation (NASDAQ: NVDA ) managed to go up by a factor of >20 from April 2020 to mid-January 2025 before the recent correction and given its stably high valuation multiples amid the market's rising concerns about DeepSeek (He leads the inves ...

Core Viewpoint - The company, First Pharmaceutical, is experiencing a decline in stock price and is actively engaging with investors regarding its business operations and partnerships in the healthcare sector [1][6]. Group 1: Stock Performance - As of April 11, 2025, First Pharmaceutical's stock closed at 11.96 yuan, down 1.73%, with a turnover rate of 2.19% and a trading volume of 48,700 shares, amounting to a total transaction value of 58.71 million yuan [1]. - On the same day, the net outflow of main funds was 4.67 million yuan, accounting for 7.96% of the total transaction value [6][7]. Group 2: Business Operations - The company has some stores that are designated as tax refund shops for outbound travelers in Shanghai [2]. - First Pharmaceutical is collaborating with partners to create a health weight management experience area at its flagship store, offering services such as health data tracking and personalized weight management [3]. - The company’s retail pharmacies can accept electronic prescriptions issued by internet medical institutions [4][5]. Group 3: Investor Engagement - The company is actively responding to investor inquiries regarding its business strategies and partnerships, indicating a focus on transparency and engagement with stakeholders [2][3][4][5].

在近期港股市场调整的过程中，南向资金接连抄底买入。 南向资金持续加快流入港股市场的背后，主要是国内无风险利率下行，以及拥有更多AI相关企业的港股市场受益于 产业预期的改善。Wind数据显示，近3个月以来，南向资金净买入的行业包括商贸零售、银行、传媒、通信、医药生 物、电子等。 南向资金"爆买"港股 4月8日，港股三大指数宽幅震荡，恒生指数早盘涨超3%午后一度转跌，尾盘再度拉升。截至收盘，恒生指数涨 1.51%，报20127.68点；恒生科技指数涨3.79%，报4568.38点；恒生国企指数涨2.31%，报7430.62点。 值得注意的是，在港股市场大幅震荡之际，南向资金加码买入。4月8日，南向资金净买入金额达236.34亿港元，刷 新历史单日净买入第五高。 | 日期 | 净买入金额(亿港元) | | --- | --- | | 2025/3/10 | 296. 26 | | 2025/4/3 | 287. 9 | | 2021/1/19 | 265. 93 | | 2025/3/12 | 262. 12 | | 2025/4/8 | 236. 34 | | 2021/1/27 | 235. 3 | | 202 ...

Investment Rating - The report maintains a positive investment outlook for the AI+Education industry, particularly highlighting companies with strong research and product capabilities that are early adopters of AI technology [2][3]. Core Insights - The AI+Education sector is experiencing significant growth, driven by advancements in AI technology, supportive policies, and a strong demand for personalized learning solutions. Companies like Duolingo and Bean Education are leading the way with innovative AI features that enhance user experience and increase user value [2][7]. - The report emphasizes the importance of both hardware and software applications in the AI+Education landscape, noting that the integration of AI into educational tools is expanding rapidly across various learning scenarios [46][62]. Summary by Sections Industry Overview - The AI+Education industry is evolving from traditional online education, with a clear trajectory towards more interactive and personalized learning experiences. Companies that have established a strong brand presence and research capabilities are well-positioned to capitalize on the increasing penetration of AI in education [13][14]. Development Drivers - Key factors driving the growth of AI+Education include a broad user base with a strong willingness to pay, supportive government policies promoting equitable access to educational resources, and technological advancements that reduce costs and improve the functionality of educational tools [29][33]. Application Scenarios - The report categorizes AI applications in education into hardware and software dimensions. In the hardware sector, smart learning devices are gaining traction, particularly in the wake of regulatory changes that limit traditional tutoring methods. In the software sector, AI-powered learning apps are emerging, offering personalized learning paths and automated grading features [46][62]. Company Insights - Duolingo is highlighted for its gamified approach and rapid user growth, with innovative features like AI-driven video calls enhancing user engagement. The company reported a DAU of 40.5 million in Q4 2024, a 51% year-over-year increase [2][69]. - Bean Education is noted for its AI capabilities that enhance user experience and increase customer value through personalized learning solutions. The company is actively exploring partnerships to develop next-generation educational products [2][69]. - Other companies such as Good Future and Youdao are also making significant strides in integrating AI into their educational offerings, with a focus on enhancing existing products and launching new applications [2][69].

星标 ★ IPO日报 精彩文章第一时间推送 2025年第一季度刚刚过去，港股IPO市场继续火热， 首发上市15家企业，募资177亿港元，相比去年同期增长超过270%。其 中包括蜜雪冰城在内的6家公司实际募资超过10亿港元。 值得一提的是，2025年第一季度港股新增51家上市申请，其中11家为A股已上市公司，占比接近四分之一。 制图：佘诗婕 募资额增长270% 东方财富Choice数据统计显示， 截至2025年3月31日，港股市场有15家公司首发IPO，共实际募集资金约177亿港元（约相当于165.37 亿人民币）。相比2024年同期，首发上市的公司数量增加了3家，募资资金规模也相应增加了129.16亿港元，同比增长超过270%。 其中，40% 的IPO企业来自消费品市场，20%来自工业市场，13%来自能源及天然资源市场。 也就是说，港股出现大量首次向港交所递交IPO申请的企业，且这一数量显著增多。 目前，港股共有120家企业在IPO申报阶段，较2024年年底86家有显著增加。 其中包括大家耳熟能详的京东工业、周六福、先导智 能、宁德时代、八马茶业、海天调味、恒瑞医药、北京同仁堂、麦德龙、沪上阿姨、绿茶集团、曹 ...

Group 1 - Huawei's first foldable smartphone, Pura X, sold out within 10 minutes of its launch on March 30, with a starting price of 7,499 yuan [4] - BYD announced price reductions for several models, including a 10,000 yuan decrease for the Qin L DM-i non-intelligent driving version, now starting at 89,800 yuan, and a 16,000 yuan decrease for the Song L DM-i non-intelligent driving version, now starting at 119,800 yuan [4] - The average salary of employees at Pang Dong Lai is reported to be 9,886 yuan after social security deductions [4] Group 2 - Siemens completed the acquisition of Altair, a provider of industrial simulation and analysis software, for approximately 10 billion USD (about 727 billion yuan) [5] - The Ukrainian Ministry of Defense announced the establishment of a space policy office to develop Ukraine's military space program [4]