Apple violated a United States court order that required the iPhone maker to allow greater competition for app downloads and payment methods in its lucrative App Store and will be referred to federal prosecutors, a federal judge in California ruled on Wednesday.The US district judge Yvonne Gonzalez Rogers in Oakland said in an 80-page ruling that Apple failed to comply with her prior injunction order, which was imposed in an antitrust lawsuit brought by Fortnite maker Epic Games.“Apple’s continued attempts ...

美国法官裁定苹果公司违反了改革应用商店的命令 加州一名联邦法官周三裁定，苹果(AAPL.O)公司违反了美国法院的一项命令，该命令要求苹果公司在 其利润丰厚的应用程序商店中允许在应用程序下载和支付方式方面进行更大的竞争。法官还将此案移交 给联邦检察官。法官罗杰斯判决书中称，苹果公司没有遵守她之前的禁令，该禁令是在《堡垒之夜》开 发商Epic Games提起的反垄断诉讼中强制执行的。罗杰斯说："苹果公司继续干预竞争的企图是不能容 忍的。""这是禁令，不是谈判。一旦一方故意无视法院命令，就没有重头来过的机会。" ...

美国法官称苹果(AAPL.O)在Epic Games反垄断诉讼中违反了应用商店禁令。 ...

Core Insights - Meta Platforms reported a 16% year-over-year revenue increase, reaching $42.3 billion, exceeding expectations and boosting shares by 4% in after-hours trading [1][2] - Earnings per share were $6.43, significantly higher than the consensus estimate of $5.22, with revenue expectations set at $41.4 billion [2] - Daily active users across Facebook, Instagram, and WhatsApp grew by 6% compared to the previous year [2] Industry Context - Meta is among the first tech giants to report earnings amid global economic turbulence, with mixed results from other companies like Alphabet, Spotify, and Snap Inc. indicating uncertainty in operations for the upcoming quarters [3] - The earnings release occurs during a sensitive period for Meta, as the Federal Trade Commission has filed an antitrust lawsuit seeking to separate Instagram and WhatsApp from the company [4]

市场消息：美国众议院委员会取消了将美国联邦贸易委员会（FTC）反垄断权限从预算方案中剔除的提 议。 ...

地塞米松磷酸钠具有抗炎、抗过敏、抗风湿、免疫抑制作用，常用于过敏及自身免疫性疾病。贝壳财经 记者在国家药监局官网查询发现，目前，地塞米松磷酸钠原料药有多个批文，生产单位包括津药药业、 上海新华联制药有限公司、仙琚制药、西安国康瑞金制药、江苏联环药业等。 针对行政处罚对公司影响，津药药业在公告中表示，上述罚没款合计金额占公司2024年经审计的营收、 归母净利润的比例分别为2.15%和51.85%。 公司进一步表示，目前地塞米松磷酸钠原料药产品生产和销售情况正常。上述罚没款合计金额将相应减 少公司2025年归母净利润6919.23万元。 津药药业称，已责令相关部门第一时间组织整改，采取四方面整改措施。整改措施提及，已制定可落实 的销售方案，发布了降价通知，主动下调地塞米松磷酸钠原料药价格，确保药品供应。 根据津药药业发布的今年一季度报告，报告期内，公司营业收入约7.86亿元，同比减少9.03%；归母净 利润5805.01万元，同比增长0.07%。 随着多家上市公司披露《行政处罚决定书》，针对地塞米松磷酸钠原料药的垄断行为正在逐步浮出水 面。 4月30日，津药药业发布公告表示，因涉及达成并实施"固定或者变更商品价格 ...

这回，李嘉诚是真的栽了。 市监总局直接放狠话：交易各方不得规避审查，未经批准，集中交易一律暂停，谁敢乱来，依法办！什 么意思？很简单：李嘉诚也好，贝莱德也罢，地中海航运集团也好——一个都别想玩垄断！ 李嘉诚想一次性甩卖全球43个海外港口，换一大笔现金走人，彻底跑路？想得美！ 市监总局这个动作，直接把李嘉诚最后一点侥幸心理敲碎了。因为李嘉诚这边，还在不停地暗搓搓搞小 动作，想搞"金蝉脱壳"——把旗下的长和集团拆成小块，企图蒙混过关。 怎么个拆法？把长子李泽钜名下的电讯盈科等产业，一分为二，直接打包送去英国伦敦上市。 一边做拆分，一边转资产。拆出来的公司名字一换，股权一分，反垄断的帽子就想摘掉。反正，留在李 嘉诚名下的是"合法"的，搬到李泽钜名下的，又是"独立"的——想得太美了！ 更绝的是，李泽钜本身还不是中国国籍，弄走的大多是海外资产。尤其是欧洲的电信资产，比如英国最 大的电信公司，都被李家收割到手。一操作下来，大量财富可以偷偷转移，反垄断审查直接被架空。 但很遗憾，国家早看穿了。 北美、拉美、欧洲、中东、东南亚、澳洲……只要是重要节点，几乎都有他的码头。 李嘉诚的盘子有多大？ 一是房地产，遍地开花，从内地到香 ...

Core Viewpoint - The Chinese government is initiating a campaign to eliminate market access barriers to promote the construction of a unified national market, addressing issues such as local government regulations that hinder resource flow and market functionality [1][2]. Group 1: Market Access Barriers - The campaign focuses on removing regulations and practices established by local governments that violate market access requirements, including discriminatory conditions against non-local enterprises and unnecessary approval processes [1][2]. - Local governments have historically created hidden barriers to protect local businesses and boost tax revenues, which contradicts the goal of a unified national market [2]. Group 2: Challenges in Implementation - The campaign may face resistance from local governments that are reluctant to abandon market access barriers due to local interests [3]. - The process of revising or abolishing regulations can be complicated, involving multiple departments and potential bureaucratic delays [3]. - Identifying hidden barriers, such as those disguised as technical standards or environmental requirements, poses significant challenges [3]. Group 3: Strategies for Overcoming Challenges - Strengthening top-level design and incorporating the cleanup efforts into local government performance assessments are essential for effective implementation [3]. - Establishing a cross-departmental coordination mechanism will clarify responsibilities and enhance communication [3]. - Utilizing modern technologies like big data and artificial intelligence can help analyze market access data and uncover hidden barriers [3]. - Optimizing mechanisms for businesses to participate in the cleanup process, including anonymous reporting channels, is crucial for gathering actionable insights [3].

Core Insights - The company reported a revenue of 13.3 billion yuan for 2024, representing a year-on-year increase of 15.8%, but the net profit attributable to shareholders decreased by 41.6% to 450 million yuan [1] - In Q1 2025, the company achieved a revenue of 2.69 billion yuan, showing a slight year-on-year decline of 0.3% and a significant quarter-on-quarter decrease of 23.5%, while net profit attributable to shareholders increased by 68.0% year-on-year [1] - The company plans to distribute a cash dividend of 4.1 yuan per 10 shares, with total cash dividends and share buybacks for 2024 amounting to 290 million yuan, which is 64.2% of the net profit for the year [1] Company Overview - The company is a leading player in the domestic pesticide formulation industry, with R&D teams and centers located in Jinan and Weifang, Shandong, and manufacturing bases in multiple locations including Argentina and Spain [2] - The company operates over 110 subsidiaries globally and conducts business in more than 100 countries, actively enhancing its global marketing network [2] Market Dynamics - The pesticide market continues to show steady growth despite a decline in the pesticide price index, with a 30.0% increase in export quantity and an 11.7% increase in export value for 2024 [2] - The gross margin for the company in 2024 was 19.8%, down 1.4 percentage points year-on-year, while the net margin was 4.0%, down 3.4 percentage points year-on-year [2] Financial Performance - The company experienced a significant increase in sales expenses by 51.1% due to rising overseas employee salaries and other costs, while financial expenses surged by 1930.4% primarily due to substantial foreign exchange losses amounting to 550 million yuan in 2024 [2] Industry Outlook - The global pesticide industry has entered a mature phase but still experiences significant cyclical fluctuations, with a 9.2% year-on-year growth in global pesticide sales in 2022 [3] - The market is characterized by oligopolistic competition, with the top five global pesticide companies holding a 75% market share [3] Strategic Initiatives - The company has established a five-year strategic plan focusing on increasing the share of TOC business, expanding operations in North America and the EU, enhancing the insecticide and fungicide segments, and strengthening the biopesticide sector [4] - The company aims for rapid growth in the pesticide formulation market through a "fast market entry platform" and has registered over 7,700 products globally [3][4] Future Projections - The company forecasts net profits attributable to shareholders of 1.02 billion yuan, 1.36 billion yuan, and 1.62 billion yuan for the years 2025 to 2027, respectively [4]

Core Point - The upcoming legislation from the House Judiciary Committee will transfer all antitrust actions and personnel from the Federal Trade Commission (FTC) to the Department of Justice, which will weaken the FTC's key regulatory powers [1] Group 1 - The transfer of antitrust responsibilities indicates a significant shift in regulatory authority from the FTC to the Department of Justice [1] - This change may impact the enforcement of antitrust laws and the overall competitive landscape in various industries [1]