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[7月8日]指数估值数据(螺丝钉定投实盘第372期发车;个人养老金定投实盘第22期;养老指数估值表更新)
银行螺丝钉· 2025-07-08 13:56
价值风格微涨。 价值风格通常低迷的时候比较抗跌,上涨行情的进攻性就弱一些。 港股也整体上涨。 文 | 银行螺丝钉 (转载请注明出处) 今天大盘低开高走,到收盘,整体上涨,回到4.8星。 中证全指站上5000点,接近去年十一假期回来后的收盘点数。 大中小盘股都上涨,中小盘指数上涨略多一些。 成长风格比较强势。 前几天下跌较多的创业板指,上涨超2%。 港股科技股上涨较多。恒生科技指数上涨1.8%。 1. 钉系列投顾组合,投顾费限时5折优惠来啦~ 螺丝钉一直致力于持续帮助大家降低成本,这次也为大家争取到了 投顾费限时5折优惠活动 。 以 主动优选组合(点击蓝字查看) 为例, 优惠期间的投顾费,具体如下图。 本期 投顾费优惠活动,开展时间为 2025年7月1日-2025年12月31日 。 优惠针对活动期间持有的所有份额生效(包含活动前买入的份额)。 只要持有投顾组合,不需额外操作即可享受优惠。 之后,螺丝钉也会继续为大家争取更多的优惠~ 点击文 章查看详情: 5折优惠来了:钉系列投顾组合,投顾费5折~ • 资金量大的时候,则走年费制封顶。 并且由系统自动判断,哪个更划算走哪个,不需要投资者手动选择。 这样,对资金量小 ...
未来资产:中国高端科技与制造业正迎来结构性崛起
对于近期市场热议的中国创新药价值重估,黄一民认为,中国创新药领域的发展仍处于早期阶段,对外 授权的模式为这些企业打开了未来利润率的想象空间。同时,这种授权方式也为企业规避部分关税战所 带来的影响。不过他也强调,该领域投资具有较高的知识门槛,投资者可以采用ETF以把握投资机会。 21世纪经济报道记者 张伟泽 香港报道 7月8日,未来资产环球投资及Global X ETFs(香港)ETF研究分析师黄一民在媒体分享会上表示,中国高 端科技发展为投资者带来投资机会。未来资产看好中国创新科技股,尤其是能够在海外市场获利的中资 企业。 "我们看到的是中国高端科技和高端制造业的结构性崛起。在人才储备、完善产业链以及规模优势的支 撑下,中国正在实现制造业高端化转型。在此过程中,私企扮演越来越重要的角色,为投资者带来机 遇。"黄一民表示。 黄一民指出,过去两个季度,中国科技龙头企业的盈利状况持续改善。同时,相较于全球其他市场, MSCI中国指数11倍的前瞻市盈率也显现出估值优势。这些因素为中国科技企业股价反弹奠定了基础。 近期,在多重利好因素支撑下,中国资产表现坚挺。然而,鉴于宏观经济和全球贸易的不确定性犹存, 预计下半年市场 ...
倾听尼山2025|斯特里奥斯·维尔维达基斯:文明的差异并非障碍,而是“美的多样性”
经济观察报· 2025-07-08 11:54
中希文明互鉴中心指导委员会主席、希腊雅典大学哲学与科学 史系教授斯特里奥斯·维尔维达基斯(Stelios Virvidakis)对 中国的哲学传统、文化精神与社会价值观始终抱有浓厚兴趣。 他长期关注儒家、道家等中国思想体系与古希腊哲学之间的异 同,并强调,通过哲学视角的文明互鉴,不仅能够深化彼此理 解,还能激发出新的全球伦理框架和教育理念。 在文明交流日益频繁且深入的当下,如何更细致地理解不同文明古国之间的文化底蕴、信仰体系与价值理念,已成为一个亟 待深入探讨的时代命题。 中希文明互鉴中心指导委员会主席、希腊雅典大学哲学与科学史系教授斯特里奥斯·维尔维达基斯(Stelios Virvidakis)对中 国的哲学传统、文化精神与社会价值观始终抱有浓厚兴趣。他长期关注儒家、道家等中国思想体系与古希腊哲学之间的异 同,并强调,通过哲学视角的文明互鉴,不仅能够深化彼此理解,还能激发出新的全球伦理框架和教育理念。 在第十一届尼山世界文明论坛"各美其美·美美与共——文明间关系与全球现代化"展开文明对话之际,在与《经济观察报》的 交流中,斯特里奥斯·维尔维达基斯提出:文明的差异并非障碍,而是"美的多样性"。"孔子与苏格拉底 ...
费德勒成首个身家超10亿美元的网球运动员,顶尖运动员靠什么赚钱?
Di Yi Cai Jing· 2025-07-08 11:53
Core Insights - Roger Federer has become the first tennis player with a net worth exceeding $1 billion, currently estimated at $1.3 billion [1][3] - Despite retiring, Federer remains a significant figure in tennis, having achieved remarkable career statistics, including 103 singles titles and 20 Grand Slam championships [2] - Federer's income primarily comes from endorsements and off-court activities, with a notable $300 million deal with Uniqlo [6][9] Group 1: Earnings and Financial Success - Federer consistently ranks among the highest-earning athletes, with his 2020 income reaching $106 million, placing him first [3] - In 2022, he still ranked seventh in global athlete earnings with a total income of $90.7 million, of which $90 million was from off-court activities [6] - The tennis industry has a high level of media exposure, contributing to substantial off-court earnings for athletes, with tennis players dominating income rankings [4] Group 2: Investment and Business Ventures - Federer has invested in the Swiss running shoe brand On, which has seen rapid growth, with a 45% stock price increase upon its IPO [9] - On's net sales have grown at a compound annual growth rate of 85% over the past decade, with projected sales of 2.318 billion Swiss francs in 2024, a 29.4% increase year-over-year [10] - The brand's profitability has also surged, with a net profit increase of 204.5% to 242 million Swiss francs [10]
索罗斯反身性理论:穿透市场迷雾的投资哲学
Sou Hu Cai Jing· 2025-07-08 11:42
Group 1 - The core idea of the articles revolves around George Soros's reflexivity theory, which emphasizes the dynamic interaction between market participants' perceptions and market realities, leading to cycles of feedback that can significantly distort prices from their fundamental values [2][3][5] - Soros's successful shorting of the British pound during the 1992 crisis exemplifies the practical application of reflexivity, where he identified a critical point of imbalance between the pound's valuation and the underlying economic conditions, triggering a market panic [3][4] - The articles highlight that investors should adopt a perspective of observing trends rather than adhering strictly to traditional value investing principles, as market emotions can lead to prolonged deviations from intrinsic value [3][4] Group 2 - Entrepreneurs are encouraged to understand the "cognitive shaping power" within reflexivity, recognizing that market demand is not static but can be influenced and guided through effective branding and consumer engagement [4] - The case of Tesla illustrates how reshaping consumer perceptions about electric vehicles through innovative marketing and product development can create new demand, demonstrating the practical implications of reflexivity in business [4] - The ultimate message of reflexivity theory is to respect the complexity of markets, acknowledging that there are no eternal equilibria, only evolving cycles influenced by the interplay of cognition and reality [5]
美丽田园医疗健康(02373):股东结构优化顺利,龙头经营稳步向上
股票研究 /[Table_Date] 2025.07.08 股东结构优化顺利,龙头经营稳步向上 美丽田园医疗健康(2373) 6935023 | 风险提示:客流低于预期、生美-医美导流不及预期、行业竞争恶化。 | | --- | | [Table_Finance] 财务摘要(百万人民币) | 2021 | 2022 | 2023 | 2024 | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | --- | --- | | 营业收入 | 1780.74 | 1635.41 | 2145.07 | 2572.20 | 3076.26 | 3313.03 | 3590.85 | | (+/-)% | 18.5 | -8.2 | 31.2 | 19.9 | 19.6 | 7.7 | 8.4 | | 毛利润 | 833.79 | 717.84 | 977.10 | 1190.00 | 1444.49 | 1557.17 | 1701.49 | | 净利润 | 193.48 | 103.11 | 215.66 | 228.46 | 307.65 ...
稳定币本质定义揭晓:权威解析其价值稳定机制,应用场景在跨境支付与投资中全面展现
Sou Hu Cai Jing· 2025-07-08 11:05
Core Insights - Stablecoins are digital currencies designed to maintain value stability by anchoring to specific assets, addressing the volatility issues of traditional cryptocurrencies like Bitcoin [1] - The primary mechanism involves issuers holding sufficient reserve assets to ensure a 1:1 exchange with the anchored asset [1][3] Types of Stablecoins - Fiat-collateralized stablecoins (e.g., USDT, USDC) require a dollar or equivalent government bonds for each issued stablecoin, audited by third parties [3][4] - Crypto-collateralized stablecoins (e.g., DAI) are generated through over-collateralization of other cryptocurrencies, typically with a collateralization rate exceeding 150% [5] - Algorithmic stablecoins (e.g., the failed UST) rely on algorithms to adjust supply and demand without physical collateral, posing high risks [6] - Commodity-backed stablecoins (e.g., Tether Gold) are linked to physical assets like gold, but are smaller in scale [7] Core Functions and Value - Serve as a "safe haven" during cryptocurrency market downturns, allowing users to quickly convert assets to stablecoins to avoid losses [8] - Enhance cross-border payment efficiency, reducing transaction times to seconds and costs to 0.1% compared to traditional methods [9] - Act as foundational infrastructure for decentralized finance (DeFi), used as collateral, lending tools, and units of account [10] - Provide a means to hedge against fiat currency devaluation, particularly in countries with high inflation rates like Argentina [11] Global Competitive Landscape - The U.S. aims to reinforce the dollar's dominance through legislation mandating stablecoins to be dollar or U.S. Treasury-backed, converting global demand into U.S. debt purchasing power [12] - Hong Kong is promoting the internationalization of the yuan with regulations allowing companies like JD and Ant Group to explore offshore yuan stablecoins [13] - Regulatory discrepancies are evident, with the EU's MiCA legislation imposing strict controls on non-euro stablecoins, while China focuses on digital yuan and bans private cryptocurrencies [13] Controversies and Risks - The anonymity of stablecoin transactions has been linked to regulatory arbitrage and money laundering, with an estimated $51 billion in illicit on-chain flows in 2024 [15] - Lack of transparency in reserve assets can lead to misuse of funds, risking collapse during a bank run, as seen in the UST incident [16] - Vulnerable countries like Argentina face risks of currency substitution, accelerating the depreciation of local fiat currencies [17] - Technical security risks include vulnerabilities in smart contracts and potential 51% attacks that could lead to asset theft [18] Future Trends - The global stablecoin market is projected to exceed $238 billion by 2025, with expectations to reach $2 trillion by 2030 [19] - Applications are expanding from cryptocurrency trading to supply chain finance and tokenization of energy assets [20] - The competition between dollar-backed stablecoins and offshore yuan stablecoins may reshape the global payment system [21]
为什么越丑的鞋越值钱?
远川研究所· 2025-07-08 10:54
笑出声的丑鞋不止Crocs一家,2012年,《THE CUT》评选"史上最丑的五十双鞋",诞生于1774年的德 国凉鞋 Birkenstock(即勃肯鞋) 赫然在列。 2007年6月,《华盛顿邮报》时尚板块对时任总统小布什发难,理由是小布什穿黑袜子的同时穿了一双 同色的洞洞鞋,丑到了看照片的每一个人[1]。 小布什还是生错了时代,十八年过去,丑鞋已经比小布什本人还要受欢迎。曾经对着丑鞋口诛笔伐的时 尚杂志们放下屠刀,转而承认2024年是属于怪鞋的一年[2]。 在年轻人人脚一双的时代里,洞洞鞋母公司 卡骆驰(Crocs Inc.) 股价,连续四年跑赢道琼斯美国球鞋 公司指数。 结果步入25财年,勃肯鞋践行了"越丑越好卖"的真理,营收连续九季度保持双位数的增长。 勃肯鞋在电影《芭比》中的亮相,随后在时尚引擎Lyst上的搜索量暴增110%[3] 2021年,LVMH旗下的私募基金L Catterton果断出手,以43亿美元收购了Birkenstock 70%的股份。时至 今日,Birkenstock的市值已经突破百亿美元,几乎等同于两个李宁。 可见丑得泯然众人是个体力活,丑得剑走偏锋,就是脑力活了。 相似的破圈之路 ...
交易型指数基金资金流向周报-20250708
Great Wall Securities· 2025-07-08 09:59
证券研究报告 | 大 类 | 所属概念 | 基金规模 | 周涨跌幅 | 周资金净买入额 | 今年以来周涨跌幅走势图 | 今年以来周资金流向走势图 | | | --- | --- | --- | --- | --- | --- | --- | --- | | | | (亿元) | (%) | (亿元) | | | | | | 上证50 | 1594.56 | 1.41 | -27.65 | | | | | | 沪深300 | 9834.49 | 1.71 | -111.15 | | | | | | 中证500 | 1401.20 | 0.86 | -19.24 | | | | | | 中证1000 | 1169.17 | 0.72 | -32.14 | | | | | | 创业板指 | 1264.48 | 1.57 | -20.59 | | | | | | 科创创业50 | 329.65 | 0.65 | -2.53 | | | | | | 科创50 | 1812.21 | -0.42 | 15.80 | | | | | 综 合 | 科创100 | 257.01 | 0.73 | 3.04 | | | | | ...
反内卷”延伸至建筑行业 国务院国资委:追求更有技术含量的“价值竞争
Jing Ji Guan Cha Wang· 2025-07-08 09:52
在建筑行业产业链上游的水泥行业,恶性价格战引发行业大面积亏损,"反内卷"行动来得更早。据中国 水泥网《2024年水泥行业上市公司中报综评》分析,2024年上半年,水泥价格低位运行,行业整体呈现 出"需求萎缩、竞争激烈、价格低迷、经营亏损"的运行特征,20家水泥行业上市公司有11家盈利,9家 亏损,盈利公司利润均出现下降。2024年8月,浙江、陕西、贵州等地的水泥行业协会发出倡议,呼吁 抵制行业内出现的"内卷式"恶性竞争。 "反内卷"行动延伸至建筑行业,包括央企、地方国企在内的33家建筑类企业联合发出建筑行业"反内 卷"倡议书。 据央视新闻7月7日报道,建筑行业"反内卷"倡议书旨在凝聚行业共识,维护公平竞争,推动形成良好行 业生态,坚决抵制"内卷式"竞争。同时提出以科技创新加快转型升级,追求内在价值、长期价值,不拼 凑规模、盲目扩张、过度负债,不设"空壳架构"虚耗资源,共同维护市场秩序。 据央视新闻消息,国务院国资委副主任谭作钧表示,转型升级是破解"内卷"的关键手段,要推动科技成 果转化和行业赋能,促进建筑行业加快向高端化、智能化、绿色化迈进。努力摒弃单纯的"价格竞争", 追求更有技术含量的"价值竞争"。上海证 ...