Core Insights - Nexalin Technology, Inc. has reconstituted its Scientific Advisory Board (SAB) to enhance its focus on Alzheimer's disease, reflecting a strategic prioritization within its clinical development pipeline [1][3] - The newly appointed members of the SAB include Dr. Mingxiong Huang, Dr. David Owens, and Dr. Abe Scheer, who bring extensive expertise in neurology and neuroimaging [2][3] - The company plans to initiate new Alzheimer's-focused clinical studies in Q3 2025, incorporating cognitive testing and imaging biomarkers to assess treatment efficacy [11][12] Company Developments - The restructuring of the SAB aims to provide scientific and clinical oversight for Nexalin's initiatives in neurodegenerative and neuropsychiatric disorders [2][3] - Nexalin's proprietary Deep Intracranial Frequency Stimulation (DIFS™) technology is designed to penetrate deep brain structures associated with cognitive decline and mental illness [3][12] - The company emphasizes the potential of DIFS™ to promote neuroplasticity and functional recovery, particularly in memory and executive function areas [3][12] Advisory Board Expertise - Dr. Mingxiong Huang specializes in magnetoencephalography (MEG) and neuroimaging, with over 25 years of experience in advanced imaging techniques for neurological disorders [4][5] - Dr. Abe Scheer has over four decades of experience in neurology and psychiatry, and has previously served on Nexalin's SAB [6][7] - Dr. David Owens, the Chief Medical Officer, is a board-certified neuroradiologist with expertise in advanced imaging techniques and clinical research on transcranial stimulation therapies [8][10] Future Directions - The SAB will guide the scientific direction and clinical strategy for Nexalin's Alzheimer's initiatives, ensuring adherence to regulatory standards and scientific rigor [11][12] - The company aims to leverage the combined expertise of the SAB members to advance its technology through clinical trials addressing Alzheimer's disease [3][11]

Group 1 - Michael Wiggins De Oliveira is an inflection investor, focusing on buying undervalued companies at pivotal moments when their profitability is expected to increase significantly over the next year [1] - The investment strategy emphasizes technology and the Great Energy Transition, including uranium, with a concentrated portfolio of approximately 15 to 20 stocks and an average holding period of 18 months [1] - Michael has over 10 years of experience analyzing companies in tech and energy sectors, and has built a following of over 40,000 on Seeking Alpha [2] Group 2 - The Investing Group Deep Value Returns, led by Michael, offers insights through a concentrated portfolio of value stocks, timely updates on stock picks, and a weekly webinar for live advice [3] - The group provides "hand-holding" support for both new and experienced investors, fostering an active and vibrant community accessible via chat [3]

证券研究报告 | 2025年05月12日 策略周思考 挖掘"Deepseek 时刻"扩散行业 核心观点 中美关系缓和,政策呵护力度加大,市场关注度逐步回暖 中美经贸高层会谈于 5 月 10 日-11 日在日内瓦举行,双方一致同意建立经贸 硅商机制,就双方在经贸领域的各自关切保持沟通。近期多部门协同出台 揽子金融政策,政策脉冲指数持续回升,显示对市场的强力支持。尽管当前 公众对 A 股的关注度仍低于过去一年半均值,但边际回暖迹象明显。上市公 司积极回购,4月回购金额环比增长 71%,且回购公司财务健康,资产负债 率低、利润表现强劲,释放出对市场的乐观信号,为市场注入信心。 策略研究 ·策略专题 | 证券分析师:王开 | 证券分析师:陈凯畅 | | --- | --- | | 021-60933132 | 021-60375429 | | wangkai8@guosen. com. cn | chenkaichang@guosen. com. cn | | S0980521030001 | S0980523090002 | | 基础数据 | | | 中小板/月涨跌幅(%) | 6294. 71/6. 02 | | ...

Financial Data and Key Metrics Changes - Seadrill reported total operating revenues of $335 million for Q1 2025, an increase of $46 million from the prior quarter [24] - Adjusted EBITDA was $73 million, up from $28 million in the previous quarter [26] - Economic utilization for the quarter was 84%, impacted by downtime in three rigs in Brazil [7][8] Business Line Data and Key Metrics Changes - Contract drilling revenues increased by $44 million sequentially to $248 million due to additional operating days [24] - Total operating expenses decreased to $317 million from $323 million in the prior quarter [25] - Vessel and rig operating expenses rose by $15 million to $179 million due to additional operating days across the fleet [25] Market Data and Key Metrics Changes - Global macro uncertainty and OPEC's decision to increase supply are affecting commodity prices and client investment confidence [8][9] - The U.S. Gulf is expected to see increased competition with up to five rigs rolling off contract before year-end, exerting downward pressure on rates in 2025 [16] - Demand in Africa is projected to decline by two to four rigs in 2025 before rebounding in 2027 and beyond [18] Company Strategy and Development Direction - Seadrill focuses on high specification floaters and deepwater basins, believing that deepwater investments are compelling due to expansive reserves [11][29] - The company aims to prioritize margins and cash flow over utilization for long-term value creation [12][29] - Seadrill maintains a robust balance sheet with $430 million in cash and a backlog of $2.8 billion extending through 2028 and into 2029 [12][26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in future demand for deepwater drilling despite current market volatility [10][29] - Active dialogues with clients for opportunities in the second half of 2025 and 2026 are ongoing, with expectations for multiple contract awards [9][29] - The company is optimistic about the longevity of demand in Brazil, with Petrobras issuing a multiyear tender for rigs [19][20] Other Important Information - Seadrill is participating in voluntary mediation with Petrobras regarding delayed penalty notices [13] - The company has undertaken an initial review of the impact of tariffs, believing any impact is already reflected in current guidance [28] Q&A Session Summary Question: Shift in client interest towards performance-based contracts - Management noted that performance-based contracts are not new and they are open to larger performance-based contracts for the right clients [34][36] Question: Costs associated with stacking the Capella - Management indicated they are in a ramp-down mode and have not reached a long-term cold stacking rate yet [38] Question: Decision process for stacking versus keeping a rig warm - Management emphasized the importance of being decisive and disciplined about removing supply from the market when necessary [41] Question: Confidence in securing contracts for the second half of 2025 - Management expressed confidence in their contracting outlook, noting that they have not moved to cold stack certain rigs, indicating ongoing market opportunities [61] Question: Need to compete on price - Management stated that performance still matters significantly and they have historically been able to secure leading edge day rates [63][65]

Financial Data and Key Metrics Changes - Seadrill reported total operating revenues of $335 million for Q1 2025, an increase of $46 million from the prior quarter [25] - Adjusted EBITDA was $73 million, up from $28 million in the previous quarter [27] - Economic utilization for the quarter was 84%, impacted by downtime in three rigs in Brazil [7] Business Line Data and Key Metrics Changes - Contract drilling revenues increased by $44 million sequentially to $248 million due to additional operating days [25] - Vessel and rig operating expenses rose by $15 million to $179 million due to increased operating days across the fleet [26] - Management contract expenses decreased by $6 million to $45 million, largely due to timing of project spending [26] Market Data and Key Metrics Changes - Global macro uncertainty and OPEC's decision to increase supply have negatively impacted commodity prices and client investment confidence [8] - Offshore sanctioning activity is forecasted to double in 2026 and 2027 compared to 2025, with a significant portion of projects being economically viable above $50 per barrel [11] Company Strategy and Development Direction - The company aims to prioritize margins and cash flow over utilization to create long-term value for shareholders [12] - Seadrill is focused on high specification floaters and deepwater basins, maintaining a strong balance sheet and durable backlog [30] - The company is actively pursuing opportunities in the second half of 2025 and 2026, despite current market volatility [29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in future demand for deepwater drilling, citing the need for investment to offset depletion [9] - The company is encouraged by ongoing dialogues with clients for upcoming contract opportunities [8] - Management acknowledged the current market's volatility but remains optimistic about securing contracts for their rigs [61] Other Important Information - Seadrill closed Q1 2025 with cash of $430 million and a backlog of $2.8 billion extending through 2028 and into 2029 [12] - The company is engaged in voluntary mediation with Petrobras regarding delayed penalty notices [13] Q&A Session Summary Question: Shift in client interest towards performance-based contracts - Management noted that performance-based contracts are not new and they are open to such arrangements for the right clients and rigs [36] Question: Costs associated with stacking the Capella rig - Management indicated they are currently reducing costs while pursuing contracting opportunities and have not yet moved to cold stack the rig [38] Question: Decision process for stacking versus keeping a rig warm - Management emphasized the importance of being decisive and disciplined in removing supply from the market when necessary [41] Question: Confidence in securing contracts for the second half of 2025 - Management expressed confidence in their assets and the ongoing market dynamics, indicating they are actively pursuing opportunities [61] Question: Need to compete on price - Management stated that performance remains a key differentiator and they are not feeling pressured to lower prices significantly [63]

| 投资者关系活动 | □特定对象调研 □ 分析师会议 | | --- | --- | | 类别 | □ 媒体采访 √ 业绩说明会 | | | □ 新闻发布会 □ 路演活动 | | | 现场参观 □ | | | 其他 年青岛辖区上市公司投资者网上集体接待日暨 √ 2025 | | | 2024 年度业绩说明会活动 | | 参与单位名称及 | 投资者网上提问 | | 人员姓名 | | | 时间 | 2025 年 5 月 12 日 (周一) 下午 14:40~17:00 | | 地点 | 公司通过全景网"投资者关系互动平台"（https://ir.p5w.net） | | | 采用网络远程的方式召开业绩说明会 | | 上市公司接待人 | 1、总经理张晓新 | | 员姓名 | 2、董事会秘书王博 | | | 3、财务负责人邹广峰 | | | 4、独立董事王荭 | | | 5、独立董事权锡鉴 投资者提出的问题及公司回复情况 | | | 公司就投资者在本次说明会中提出的问题进行了回复： 1、请问你们有信心能把公司做大做强吗？ | | | 尊敬的投资者您好，公司坚持以高质量党建引领高质量发 | | 投资者关系活动 | 展 ...

Core Viewpoint - TMC the metals company Inc. announced a $37 million registered direct offering to advance its commercial development plans and support operations through the potential issuance of a commercial recovery permit [1][2][3] Group 1: Offering Details - TMC will issue 12.3 million common shares at $3.00 per share, with each share accompanied by a Class C warrant to purchase one additional share at an exercise price of $4.50 per share [2] - The warrants have a three-year term and include a compulsory exercise provision if the stock trades above $7.00 per share for 20 consecutive trading days [2] - Gross proceeds are expected to total approximately $37 million before expenses, sufficient to fund operations through the potential issuance of a commercial recovery permit [2][6] Group 2: Strategic Partnerships - Michael Hess and Brian Paes-Braga are participating in the offering, bringing extensive experience in exploration and production [1][3] - The partnership aims to advance America's mineral independence and support the development of ocean minerals [3][6] Group 3: Regulatory Context - The offering is subject to customary closing conditions and is expected to close on or about May 22, 2025 [2] - Shelf registration statements related to the securities were filed and declared effective by the U.S. Securities and Exchange Commission [3]

Five Point Holdings, LLC (NYSE: FPH ) is a deep value play poised for a re-rating as the market misjudges the long-term monetization potential of its California land bank and underestimates the gains from itsAn economics graduate with a passion for financial history; I apply my knowledge to markets in an effort to hopelessly predict trends and spot value. All opinions are my own and should not be taken seriously.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the co ...

公开信息显示，云计算50ETF（516630）的AI算力含量较高，标的指数成分股覆盖了光模块&光器件、 算力租赁（IDC）、数据储存、服务器、液冷等算力基建概念板块。此外，指数当中DeepSeek概念股含 量较高，据华创证券测算，云计算指数（930851）的Deepseek概念股含量为42.9%。云计算50ETF （516630）当前管理费率0.15%，托管费率0.05%，合计费率0.2%，为全市场同类产品最低费率水平。 （文章来源：每日经济新闻） 消息面上，近日DeepSeek团队发布了新论文《Inference-Time Scaling for Generalist Reward Modeling》， 该论文引入了一种自我原则点评调优（SPCT）的方法，提出了通用奖励模型在推理阶段的新算法，验 证了推理阶段的扩展策略在效率与性能上的双重优势。同时基于此方法推出DeepSeek GRM模型，27B 的参数能跑出目前R1模型671B参数相当的性能。华泰证券认为，该方法带来了推理阶段新的Scaling方 法，或暗示了DeepSeek R2的技术路径，模型迭代加速可期。DeepSeek R2有望在近1-2月内发布 ...

Group 1 - The China Securities Big Data Industry Index has seen a strong increase of 1.09% as of May 12, with notable gains in constituent stocks such as Aerospace Hongtu (up 5.33%), Zhongke Xingtong (up 3.49%), and Shiji Information (up 3.40%) [1] - The Data ETF (516000) rose by 0.96%, with the latest price reported at 0.94 yuan. Over the past week, the Data ETF has accumulated a rise of 0.76%, leading its peers [1] - The trading volume for the Data ETF reached 5.0882 million yuan, with a turnover rate of 1.21%. The average daily trading volume over the past week was 23.8212 million yuan [1] Group 2 - Tianfeng Securities' research report anticipates that the core logic for Q2 and the second half of the year will revolve around "Alibaba Chain Ecosystem + Domestic Substitution + AI Application Expansion" [1] - The Alibaba Chain ecosystem is expected to leverage its strong foundation in traffic entry, model capabilities, cloud, and self-owned hardware, along with Tongyi Qianwen's layout in vertical ecosystems in finance and government sectors, potentially becoming the "chain master" for B-end agents in China [1] - The domestic computing power and Xinchuang sector are expected to benefit from policy support for self-control and technological iteration, with a sustained upward trend in prosperity anticipated [1] Group 3 - The Data ETF (516000) and its linked funds closely track the China Securities Big Data Industry Index, focusing on popular concept sectors such as DeepSeek, AI computing power, and the Hongmeng industrial chain, covering well-known stocks like iFlytek, Zhongke Shuguang, Inspur Information, and Hengsheng Electronics [2]