Group 1 - The Kuwait Investment Authority's Managing Director, Sheikh Saud Salim Abdulaziz Al Sabah, emphasizes a commitment to long-term investments in the U.S. but warns about the diminishing time for capital returns to investors [1] - Donald Trump Jr. defends the tariffs imposed by his father as a means to promote U.S. economic growth and hints at a potential future presidential run [1] - Former U.S. Treasury Secretary Steven Mnuchin expresses greater concern over the U.S. budget deficit than trade issues, urging for "fiscal repair" [1]

在全球最大的债券市场，投资者正在抵制美国总统特朗普的减税计划。5月21日，由于政府官员与共和 党议员会面，敲定一项减税协议，基准30年期美国国债收益率当天飙升至5.1%，，并引发股市和美元 下跌。令人担忧的是，这项减税法案将在未来几年使本已膨胀的预算赤字再增加数万亿美元，而目前全 球投资者对美国资产的兴趣正在减弱。 ...

Meeting Details - The annual general meeting of Guangdong Provincial Highway Development Co., Ltd. is scheduled for May 21, 2025, at 3:00 PM [1] - The meeting will be held at the company's conference room located at 32 Zhujiang East Road, Guangzhou [3] - The meeting will combine on-site voting and online voting [4] Attendance - A total of 249 shareholders and their proxies attended the meeting, representing 1,286,824,551 shares, which is 61.5468% of the total voting shares [6] - Among them, 47 attended the on-site meeting, representing 1,068,226,276 shares (51.0916% of total voting shares), while 202 participated via online voting, representing 218,598,275 shares (10.4552% of total voting shares) [6] Proposal Voting Results - The proposal for the 2024 financial settlement report was approved with 1,286,643,751 votes in favor, accounting for 99.9860% of the votes cast [9] - The proposal for the 2024 profit distribution plan received 1,286,746,751 votes in favor, representing 99.9940% [12] - The proposal for the 2025 comprehensive budget was approved with 1,253,127,803 votes in favor, which is 97.3814% [16] - The proposal for the 2024 board of directors' work report was approved with 1,286,643,551 votes in favor, accounting for 99.9859% [19] - The proposal for the 2024 supervisory board work report received 1,286,643,051 votes in favor, representing 99.9859% [22] - The proposal for the 2024 annual report and its summary was approved with 1,286,644,151 votes in favor, accounting for 99.9860% [25] - The proposal for the 2025 investment plan received 1,250,074,212 votes in favor, which is 97.1441% [27] - The proposal for increasing investment in the Ji Guang Expressway project was approved with 253,740,860 votes in favor, representing 99.8679% [28] - The proposal for issuing medium-term notes received 1,286,675,251 votes in favor, accounting for 99.9884% [29] Legal Opinions - The legal opinions provided by Guangdong Lianyue Law Firm confirmed that the meeting's procedures and voting results comply with relevant laws and regulations [33] Future Meetings - The company will hold its first temporary shareholders' meeting on June 6, 2025, at 3:30 PM [74] - The meeting will also utilize a combination of on-site and online voting [76]

美国前财长努钦：比起贸易逆差，美国预算赤字其实更令人担忧。 ...

Group 1 - The UK Prime Minister Starmer announced that the government will consider the winter fuel threshold issue in the upcoming fiscal budget [1]

Core Viewpoint - The 2024 Annual General Meeting of Beijing Haibo Sichuang Technology Co., Ltd. will address various proposals, including financial reports, board and supervisory committee work reports, and the 2025 financial budget, reflecting the company's operational performance and governance structure [1][20][29]. Group 1: Meeting Procedures - Shareholders and their representatives must sign in 30 minutes before the meeting and present necessary identification documents [2][3]. - The meeting will follow a structured agenda, allowing shareholders to express their opinions and vote on proposals [4][7]. - Voting will be conducted through both on-site and online methods, with specific timeframes for each [5][6]. Group 2: Financial Performance - In 2024, the company achieved a revenue of 826,970.43 million yuan, an increase of 18.44% compared to the previous year [21][24]. - The net profit attributable to shareholders was 64,783.81 million yuan, reflecting a growth of 12.06% year-on-year [21][24]. - Total assets reached 1,097,150.47 million yuan, marking an 18.83% increase from the previous year [22][23]. Group 3: Governance and Oversight - The board of directors held seven meetings in 2024, ensuring compliance with legal and regulatory requirements [9][11]. - The supervisory committee actively monitored the company's operations and financial management, confirming adherence to laws and regulations [16][18]. - The company plans to enhance its governance structure and internal controls in 2025 to support sustainable growth [12][18]. Group 4: Future Plans - The 2025 financial budget aims for stable revenue growth while focusing on key performance indicators such as gross margin and debt ratio [27][28]. - The company emphasizes strategic alignment and value orientation in its operational plans for the upcoming year [27][28].

Core Viewpoint - Beijing JianKai Technology Co., Ltd. is preparing for its 2024 annual shareholder meeting, focusing on various proposals including executive compensation, financial reports, and stock issuance authorization. Group 1: Shareholder Meeting Proposals - Proposal Eight discusses the execution of director compensation for 2024 and the standard for 2025, with independent directors receiving a monthly salary of 10,000 RMB (tax included) in 2024 and a proposed annual salary of 120,000 RMB for 2025 [16][18]. - Proposal Nine outlines the compensation for supervisors, with external supervisors receiving an annual salary of 120,000 RMB (tax included) and no salary for shareholder supervisors not holding administrative positions [20]. - Proposal Ten seeks authorization for the board to issue stock to specific targets, with a total financing amount not exceeding 300 million RMB and not exceeding 20% of the net assets at the end of the previous year [21][22]. Group 2: Financial Performance - The company reported a total revenue of 227.10 million RMB in 2024, a decrease of 22.26% compared to the previous year, and a net profit attributable to shareholders of 29.84 million RMB, down 74.22% year-on-year [39]. - The decline in performance is attributed to reduced domestic product sales and increased operational costs following the commissioning of the Liaoning Panjin project [39]. - The company’s net profit after deducting non-recurring gains and losses was 19.48 million RMB, reflecting an 82.64% decrease compared to the previous year [39]. Group 3: Governance and Compliance - The board of directors has adhered to relevant laws and regulations, ensuring that the shareholder meeting and board decisions comply with legal requirements [34][36]. - The supervisory board has conducted oversight on the company's operations, financial status, and the use of raised funds, confirming compliance with regulations and protecting shareholder interests [36][38].

日本将延迟实现预算平衡的目标，从2025财年推迟至2025-2026财年。（日经新闻） ...

智通财经5月21日电，日本政府将放宽实现预算平衡的目标，从2025财年推迟至2025-2026财年。 ...

./01234567892025-05-21 4 !"#$%&'()*+,-. ——!"#$%&'(/ !"#$ 徐闻宇 * xuwenyu@htfc.com 从业资格号：F0299877 投资咨询号：Z0011454 !"#$%&"'() *+,-./01121/34 5) !"#$% 北京时间 2025 年 5 月 20 日财政部公布 2025 年 1-4 月财政收支情况。其中：一般公共预 算收入同比下降 0.4 %（增值税 1.80 %，个人所得税 7.40 %，印花税 18.90 %、企业所 得税-3.10 %；消费税 1.80 %、出口退税 12.50 %）；一般公共预算支出同比 4.60 %（社 会保障和就业 8.50 %；教育 7.40 %）。政府性基金预算收入同比-6.70 %（中央 5.60 %， &'"( ■ !"#$%& 一般公共预算收入：2025 年 1-4 月一般公共预算收入进度 36.7%，与过去五年同期均值 持平，名义增长的压力依然存在但边际改善，4月 CPI同比增速-0.1%，与 3月持平，维 持低通胀的特征。1-4 月一般公共预算收入延续回升势头，显示经济运行逐步改善对财 政 ...