编者按：科学制定和接续实施五年规划，是我们党治国理政的一条重要经验，也是中国特色社会主义一 个重要政治优势。我国将于2026年开始实施"十五五"规划，目前党中央正在组织起草"十五五"规划建 议。编制和实施"十五五"规划，对于全面落实党的二十大战略部署、推进中国式现代化意义重大。凝聚 共识，汇聚众智，证券时报即日起推出"专家建言'十五五'规划"专栏，敬请垂注。 中泰国际首席经济学家李迅雷 中泰证券研究所分析师贺钟慧 "十五五"时期，外部环境的复杂性、严峻性、不确定性将继续上升，国内需求成为大国博弈的一种重要 战略资源。近年来，我国面临国内有效需求不足的困扰，依靠投资拉动的经济增长模式逐渐受到产能过 剩、债务高企、回报率偏低等多重因素制约，这要求我们进一步增强消费对经济发展的基础性作用，充 分挖掘消费潜力、提高消费能力，持续提升消费在GDP中的比重。 一、当前消费占比 较低的表现及影响 当前，消费占我国经济的比重较低，可以从规模占比和增长贡献率两个角度来看。 最终消费占GDP比例方面，2024年我国最终消费占GDP的比例为56.6%，近年来持续处于55%左右水 平。世界银行数据显示，2023年中国最终消费支出占G ...

以下文章来源于九边 ，作者九边 关于清北毕业的收入，这也是个非常复杂的话题，因为没啥统计数据，只能是从我自己身边的感觉， 还有类似智联招聘等网站的数据来推算。 先说两个很常见的误区。 一般大家说起清北，可能第一反应想到的是类似计算机，人工智能，金融等热门高薪专业，这些起薪 基本上都在三十万左右，毕业十年干到百万收入也不是太难。 但这俩专业在清北是绝对少数，还有大量的类似考古，大气，农学，生态，林学，生物，环境，土木 什么的，这些都不是些赚钱专业。还有不少文科、天坑专业，这些都没法找到高薪岗位。 这也是为啥这些名校毕业生，恨不得三分之一考了公务员和大学老师。 其实这里的"三分之一"我是 往极致保守了说，如果算上国企，研究所，留校教书，去高中等等，妥妥一大半以上，我查了能查到 的数据，60%也是个保守数据。 尤其研究生和博士，去大学和研究所的比例极高。 九边 . 2023年印象笔记收藏量排第一的公号 本文来自微信公众号： 九边 （ID：ertoumu893） ，作者：九边，题图来源：视觉中国 高考季再写点吧，过来人感受不一定对，但说不定会给一些迷茫的小伙伴点启发。 其实聊收入多少有点低俗，不过咱们也都诚实点，无论 ...

2023年印象笔记收藏量排第一的公号 本文来自微信公众号： 九边 （ID：ertoumu893） ，作者：九边，题图来源：视觉中国 高考季再写点吧，过来人感受不一定对，但说不定会给一些迷茫的小伙伴点启发。 以下文章来源于九边 ，作者九边 九边 . 其实聊收入多少有点低俗，不过咱们也都诚实点，无论是考生还是家长，拼了命也要考个好学校，最 根本的目标还是想将来多赚点钱把日子过好点。也有类似张益唐这种确确实实对钱很无所谓的，但这 类人非常极少见。 我比较喜欢莫言的风格，有一次不知道得了个什么奖 （不是诺奖那次） ，莫言作为一个深入简出不 爱社交的"i人"，当然不想去。不过后来说是有100万奖金，立刻就去了，非常实诚，换我我也这么 干。 关于清北毕业的收入，这也是个非常复杂的话题，因为没啥统计数据，只能是从我自己身边的感觉， 还有类似智联招聘等网站的数据来推算。 先说两个很常见的误区。 一般大家说起清北，可能第一反应想到的是类似计算机，人工智能，金融等热门高薪专业，这些起薪 基本上都在三十万左右，毕业十年干到百万收入也不是太难。 但这俩专业在清北是绝对少数，还有大量的类似考古，大气，农学，生态，林学，生物，环境，土木 ...

以下文章来源于图数室 ，作者图数室 图数室 . 新浪新闻出品《图数室》栏目。 关注我们，用数据读懂热点。 伴随劳动力结构的老化与经验价值的重估，一个更包容、更理性的职场时代，正在悄然开启。 部分地区开始放宽招聘年龄限制 很长一段时间，"35岁职场危机"如同一把无形的标尺，卡在无数求职者的职业道路：企业招聘隐形歧 视、公务员考试设限、中年转岗举步维艰...... 来源丨图数室（ sina-tushushi ） 图源丨Midjourney 曾几何时，35岁成了无数职场人心头的一道"隐形红线"。招聘启事悄悄划线，单位用工默默设限，职 业选择逐渐变窄…… "35岁危机"一度成为大龄劳动者焦虑的代名词。 但如今，这道无形门槛似乎正在松动。山东、新疆、北京等地陆续打破招聘的年龄限制，部分岗位甚 至放宽至45岁。 但近年来，随着人口结构变化和人才观念升级，"35岁职业门槛"迎来转机——山东、新疆、北京、河 南等多地相继出台政策，明确要求机关事业单位、国有企业破除招聘中的年龄限制，把部分岗位年龄 放宽至45周岁（以下）群体。 | 哪些地区 | | 新浪新闻 出品 自公尺= | | --- | --- | --- | | | ...

Core Viewpoint - The company, Hunan Jingfeng Pharmaceutical Co., Ltd., is addressing financial issues related to debt waivers and restructuring, as highlighted in the inquiry from the Shenzhen Stock Exchange regarding its 2024 annual report [1][2]. Group 1: Debt Waiver Details - The company has received debt waivers from nine bondholders, which were formalized through agreements allowing for the deferral of payments until June 30, 2024 [1]. - The total amount of debt waived includes principal, interest, and penalties, amounting to approximately CNY 266 million [4]. - The waivers were confirmed to be unconditional, irrevocable, and not subject to change, ensuring that the company will not be liable for these debts moving forward [4][5]. Group 2: Financial Position and Debt Management - As of April 30, 2025, the company reported outstanding debts to the nine bondholders totaling CNY 184.64 million in principal and CNY 4.55 million in interest [4]. - The company has entered a pre-restructuring phase, indicating ongoing efforts to stabilize its financial situation and improve its debt structure [4][5]. - The company has also sold non-core assets, such as the "Taihu Star" property, for CNY 64.69 million, which has helped improve cash flow and reduce operational pressure [8]. Group 3: Compliance and Regulatory Response - The company has engaged with legal and accounting firms to ensure compliance with financial regulations and to validate the legitimacy of the debt waivers [4][5]. - The company has taken corrective actions to address previous audit opinions, including adjustments to its financial statements to reflect accurate asset valuations and debt obligations [8]. - The company has committed to maintaining transparency with regulatory bodies and stakeholders regarding its financial restructuring efforts [4][5].

报告版权仅为我公司所有，未经书面许可，任何机构和个人不得以任何形式翻版、复制和发布。如引用、刊发，需注明出处为 | 项目类别 | 数据指标 | 最新 | 环比 数据指标 | 最新 | 环比 | | --- | --- | --- | --- | --- | --- | | 期货市场 | 沪金主力合约收盘价(日,元/克) | 785.16 | 7.62 沪银主力合约收盘价(日,元/千克) | 8819 | -83 | | | 主力合约持仓量:沪金(日,手) | 172351 | 3606 主力合约持仓量:沪银(日,手) | 432670 | -22562 | | | 沪金主力前20名净持仓(日,手) | 142292 | 7939 沪银主力前20名净持仓(日,手) | 117220 | -12800 | | 现货市场 | 仓单数量:黄金(日,千克) | 17847 | 30 仓单数量:白银(日,千克) | 1226150 | -3666 | | | 上海有色网黄金现货价(日,元/克) | 781.8 | 6.6 上海有色网白银现货价(日,元/千克) | 8807 | -63 | | | 沪金主力合约基差(日,元 ...

贝莱德（BlackRock）力求在2030年实现年收入350亿美元，将市值扩大一倍至2800亿美元。 ...

Core Viewpoint - HNA Technology Co., Ltd. has entered into a strategic cooperation agreement with CWT to engage in metal trading, specifically focusing on cathode copper sourced from regions such as Africa and South America, with a total investment not exceeding 250 million RMB [1][2][9] Group 1: Transaction Details - The agreement involves HNA Technology purchasing cathode copper and related metal products from CWT for sale in China, with a contract duration of three years [2][9] - The transaction will utilize a CIF (Cost, Insurance, and Freight) model, where CWT is responsible for production, logistics, and insurance, while HNA Technology will pay for the goods upon receiving the clean bill of lading [3][7] - The expected cycle for buying and selling goods is approximately 30 days, with a maximum of 45 days depending on shipping schedules [5][7] Group 2: Financial Impact - The total investment for this trading business is projected to be no more than 250 million RMB, with an anticipated annual trading scale not exceeding 1.5 billion RMB [9][17] - The impact on HNA Technology's annual revenue is estimated to be no more than 15 million RMB, accounting for approximately 1.34% of the projected revenue for 2024, and the profit impact is also estimated at 15 million RMB, representing about 12.10% of the projected net profit for 2024 [9][20] Group 3: Risk Management - HNA Technology will not prepay for goods to mitigate financial risks, ensuring payment is made only after the goods are shipped and a clean bill of lading is obtained [11][18] - The company will conduct thorough background checks on downstream buyers to minimize the risk of bad debts and will prioritize payment methods that secure funds before goods are delivered [12][18] - CWT will provide insurance for the goods during transit to further reduce the risk of loss [13][18] Group 4: Strategic Rationale - The transaction is seen as a strategic move to enhance HNA Technology's logistics service capabilities and to create a complete logistics service loop, integrating upstream resources, midstream capacity, and downstream customer engagement [10][21] - The partnership with CWT leverages its extensive customer base and supply chain advantages, which is expected to strengthen HNA Technology's market position and operational efficiency [10][21] - The agreement is aligned with the company's long-term strategic goals and is not expected to adversely affect its financial condition or operational independence [20][21]

Sales Model - The company reported a revenue of 765 million yuan, representing a year-on-year increase of 15.31%, with a higher gross profit margin from distribution sales compared to direct sales [1] - The sales model has shifted significantly from "mainly direct sales, supplemented by distribution" at the time of listing in 2020 [1] Revenue Recognition - The company needs to clarify the sales situation of its top five distribution customers, including names, cooperation duration, and sales amounts, along with reasons for changes [2] - Revenue recognition for the top five distribution customers is based on the timing of sales and compliance with industry practices and accounting standards [2][6] - The gross profit margin for distribution sales is higher than that for direct sales due to factors such as pricing advantages and customer service provided by distributors [6][9] Inventory and Sales Matching - The company confirmed that there are no significant issues with product operation, distributor stockpiling, or post-sale returns for its distribution customers [5] - The company maintains a buyout transaction model with distributors, meaning they do not have the right to return products except for quality issues [5] Customer Relationships - The reasons for end customers not purchasing directly from the company include the advantages of distributors in customer service and cost savings through bulk purchases [6] - The company has maintained good relationships with several major customers since its listing, with no significant anomalies compared to industry peers [11]

Core Viewpoint - Zhejiang Haideman Intelligent Equipment Co., Ltd. has received an inquiry letter regarding its 2024 annual report, prompting a detailed response concerning its sales model and revenue recognition practices [1]. Sales Model - The company reported a revenue of 765 million yuan in 2024, representing a year-on-year increase of 15.31% [2]. - The sales model has shifted significantly from "mainly direct sales, supplemented by distribution" at the time of its 2020 IPO to a model where distribution plays a more prominent role [2][3]. - The gross profit margin for distribution sales is higher than that for direct sales, indicating a strategic shift in sales approach [2]. Major Customers and Sales Performance - The company provided detailed sales information for its top five distribution customers, including sales amounts, changes, and reasons for variations [3][4]. - The total sales to the top five distribution customers reached 118 million yuan, accounting for 30.72% of distribution revenue [14]. - The sales performance of major customers showed fluctuations, with some customers experiencing significant changes in purchasing behavior due to market conditions [14]. Revenue Recognition - Revenue recognition practices are aligned with industry standards, with sales recognized upon delivery and acceptance based on contractual agreements [15]. - The company confirmed that there are no significant discrepancies in revenue recognition compared to industry peers, ensuring compliance with accounting standards [15]. - The revenue recognition for export sales is based on customs clearance and obtaining shipping documents, while domestic sales follow a different set of criteria [15]. Financial Performance - The fourth quarter of 2024 saw a revenue of 221 million yuan, reflecting a quarter-on-quarter growth of 29.83% [15]. - The company noted a seasonal pattern in revenue distribution, with the fourth quarter typically accounting for a higher proportion of total annual revenue [15]. Customer Relationships - The company maintains ongoing relationships with several major customers from before its IPO, although some have seen reduced transaction volumes due to changes in demand [12][14]. - The reasons for decreased cooperation with certain customers include shifts in their operational needs and market conditions, which are consistent with industry practices [14].