0:00 21世纪经济报道记者 杨坪 深圳报道 5月19日，由深圳证券交易所主办的2025全球投资者大会在深圳举行，并购重组成为大会的热议话题之 一。 "从并购重组的政策来看，实际上我们看到了有很积极的影响。第一点就是信心开始重拾。半导体是一 个非常重要的产业，也是在2024年年底就开始出现了比较大的反转，信心提升这一块，不管是买方还是 卖方还是投资机构，都开始蓄力做并购重组，有幸的是元禾璞华也是在新并购六条推出之前，先知先觉 做了一只并购基金，专为半导体的新质生产力的发展做出我们自己的贡献。"牛俊岭说道。 "跨界收购"作为并购市场一大热点话题，也在会上被讨论。 华泰联合证券公司执行委员会委员劳志明从方案设计的角度谈到，跨界并购在实践中面临较多挑 战，"两个完全不相关的行业要在'一个锅里吃饭'，整合压力挺大。" 他表示，把新兴产业资产整合进传统行业上市公司里存在一个悖论：从规模角度看，希望上市公司市值 小；但从后续抗风险角度看，又希望经营稳健，甚至不断增长赚钱，这里边的交易机会不是特别好选。 据深交所创业板公司管理部总监徐正刚介绍，"并购六条"发布后，深市并购重组市场规模和活跃度显著 提升，累计披露重组项目接 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 5月19日晚，信邦智能发布公告称，公司拟通过发行股份、可转换公司债券以及支付现金的方式取得无 锡英迪芯微电子科技股份有限公司（以下称"英迪芯微"）控股权，并募集配套资金。 信邦智能表示，本次交易是公司围绕汽车产业链，经过全面考察和深度思考，选择规模大、增速快且国 产化率较低的汽车芯片赛道作为投资并购方向的重要举措，系公司在熟悉的汽车领域寻求新质生产力、 实现产业升级的关键布局。 根据2024年年报，信邦智能归母净利润仅495.07万元，同比暴跌88.33%，创下上市以来新低；扣非净利 润488.69万元，同比下降79.01%。 事实上，若追溯过往数据，自2022年IPO以来，信邦智能归母净利润和ROE（净资产收益率）均已连续 3年下降，上市后业绩迅速变脸。这一反差暴露了公司成本控制不力与业务扩张效率低下的问题，对景 胜科技的失败收购及海外新能源项目成本超支，进一步拖累了业绩。 值得注意的是，截至2024年末，信邦智能资产负债率仅为18.05%，从2018年的45%连续7年下降，账面 货币资金达8.01亿元，占总资产比例超40%，且无有息 ...

Group 1 - The core viewpoint of the article emphasizes the integration of traditional culture with modern economic development, showcasing cultural confidence through innovative practices [1] - An international cultural and artistic exchange platform was launched to promote the deep integration of cultural heritage with education and art, aiming to make cultural relics more accessible and relevant to everyday life [1][12] - The event's theme "Breaking Boundaries? Coexistence" aligns with the International Museum Day's focus on the future of museums in a rapidly changing society, highlighting the urgent need for innovation and cross-disciplinary collaboration in the cultural sector [5] Group 2 - Participants at the event discussed the importance of breaking down barriers between different art forms, regions, and media to enhance the creative transformation of Chinese culture and improve its international discourse power [5] - Various representatives from museums, cultural institutions, and artists shared insights on how to revitalize cultural relics and make culture more vibrant in the lives of the public [5][9] - The platform aims to foster cross-national, cross-regional, and cross-city collaboration in cultural education, with successful examples of cultural dramas, music, and fashion already established [11][12]

Core Viewpoint - The Jiangsu University of Science and Technology's Sericulture Research Institute showcases a vast collection of silkworm and mulberry genetic resources, emphasizing the importance of these resources for the sustainable development of the sericulture industry in China [1][3]. Group 1: Genetic Resources - The institute houses 1,179 silkworm genetic resources from various countries and regions, which are crucial for the preservation and study of silkworm genetics [2]. - There are over 3,000 mulberry genetic resources available, showcasing diverse characteristics that are essential for the breeding of silkworms and mulberry trees [3]. Group 2: Research and Development - Researchers are working on adapting silkworms to consume artificial feed to ensure their survival in case of mulberry leaf shortages, demonstrating innovation in sericulture practices [4]. - The discovery of disease-resistant silkworm strains, such as the "Huakang" series, represents a significant advancement in combating the NPV virus, which has plagued silkworm farming for centuries [4]. Group 3: Cross-Industry Applications - The sericulture industry is expanding beyond traditional practices, with silk being utilized in medical applications such as surgical sutures and artificial blood vessels due to its biocompatibility [5][6]. - New products derived from silkworms and mulberries, including a high-yield "winter worm summer grass" product and deep-processed mulberries, are being developed to enhance their nutritional value and market potential [6].

Core Insights - The core message of the news is the celebration of the 30th anniversary of Zhou Hei Ya, highlighting its brand renewal strategy and commitment to quality as it aims to expand globally [1][8]. Group 1: Brand Development and Quality Control - Zhou Hei Ya has evolved from a street vendor to a national brand, emphasizing a vision of becoming "the creator of deliciousness for the world" while maintaining a quality-first approach [1]. - The company has implemented rigorous quality control measures, including advanced equipment to ensure a 99.9% impurity removal rate in its pepper sourcing, reflecting its commitment to high standards [2][3]. - Zhou Hei Ya's products have received multiple industry awards, including the iSEE Delicious Award, reinforcing its reputation for quality [4]. Group 2: Market Adaptation and Product Innovation - The company has adapted its store formats and product offerings to meet changing consumer preferences, including the introduction of new product lines such as spicy chicken and collaborations with other brands [5][6]. - Zhou Hei Ya has expanded its store count to over 3,000 across more than 300 cities in China, utilizing a dual model of direct sales and franchising to enhance market presence [5]. Group 3: Strategic Expansion and Globalization - Zhou Hei Ya is actively pursuing global market opportunities, starting with Southeast Asia, and aims to promote Chinese marinated food culture internationally [8]. - The company has diversified its distribution channels, including partnerships with major retailers and e-commerce platforms, resulting in a 75% increase in customer transactions [7]. - The introduction of new beverage products and collaborations in the seasoning sector indicates a strategic move towards creating new consumption scenarios [7].

Core Viewpoint - The collaboration between Bright Dairy's ice cream and Shanghai Soap's Fenghua on May 20, 2025, marks a significant cross-industry partnership aimed at creating a unique cultural experience that blends urban memory with contemporary creativity [2][10]. Group 1: Event Overview - The event titled "Flower Blooms to See Brightness" takes place at the romantic landmark Sweet Love Road in Shanghai, showcasing a fusion of two iconic brands [2][5]. - The initiative aims to evoke emotional connections and social responsibility through immersive consumer experiences and cultural rituals [5][11]. Group 2: Creative Engagement - Three creative scenes at the event enhance consumer engagement, including a "Love Announcement Board" where participants can express their love messages, fostering social media interaction [7][11]. - The introduction of a unique "Cold Aroma Matrix" by Shanghai Soap allows consumers to experience a blend of ice cream and fragrance, enhancing brand memory and product experience [9][11]. Group 3: Brand Collaboration - The partnership represents a deep restructuring of the old brand ecosystem, focusing on customized products that cater to modern consumer experiences [11][13]. - The collaboration creates a closed-loop model of "IP empowerment - scene innovation - user sedimentation," enhancing market competitiveness for both brands [11][15]. Group 4: Cultural and Economic Impact - The cross-industry collaboration serves as a new practical example for revitalizing national brands, transforming historical heritage into experiential cultural symbols [13][15]. - The innovative approach of combining different product categories meets the demands of young consumers for personalized and engaging experiences [13][16]. Group 5: Future Directions - Bright Dairy plans to continue exploring the "national trend brand symbiosis" model, aiming to expand development opportunities for traditional brands [16].

Group 1 - The core theme of the 15th "5.19 China Tourism Day" is to showcase diverse cultural and tourism experiences across various regions, emphasizing local characteristics to attract visitors [1][2] - Hangzhou's West Lake District is hosting the "North Latitude 30° Party to Unlock the B Side of West Lake" from May 16 to 18, featuring a series of promotional activities that highlight its cultural and tourism innovation [2][4] - The event location, the San Dun East Nest Rice Mill Contemporary Art Center, exemplifies the integration of industrial heritage into new tourism consumption scenarios, reflecting the district's "Cultural Tourism +" cross-industry development strategy [4] Group 2 - The West Lake District is launching ten themed tourism routes targeting various demographics, including families, youth, and pet owners, focusing on seasonal experiences and cultural engagement [4][5] - The "5.19 Benefit Policy" includes discounts on tickets and support for tourism enterprises, aiming to enhance visitor engagement and stimulate the local economy [4][5] - The event features over 50 sensory booths and 30 unique courses, showcasing a blend of culture, art, and technology, indicating future trends in the cultural tourism industry [5][6] Group 3 - The "College Cultural Tourism Star Promoter" initiative aims to engage university students in promoting local tourism through creative media and event planning, injecting youthful energy into the West Lake tourism scene [5][6] - The success of the recent May Day holiday in the West Lake District highlights the effectiveness of new tourism business models driven by technology and immersive experiences [6] - The collaboration between Chenghua District and Lezhi in Sichuan during the "Fat Hero: China Tourism Day Jianghu Gathering" event showcases the potential for cultural tourism synergy and the development of new travel routes [8][9]

Core Theme - The 2025 Shanghai Summer Music Festival (MISA) will take place from July 1 to 13, featuring a diverse lineup of orchestras, ensembles, and artists, with a focus on the theme "Writing for the Future" [1] Group 1: Festival Overview - MISA will host 4 professional symphony orchestras, 7 music ensembles, multiple student art groups, and nearly 50 conductors and solo artists [1] - The festival includes 29 live performances and over 20 online broadcasts, along with various extension activities such as MISA Talk, MISA Ride, MISA Pass, and MISA Workshop [1] Group 2: Featured Performers and Events - The New York Philharmonic and Hamburg Philharmonic will perform at MISA, alongside the Shanghai Symphony Orchestra [2] - The festival will feature renowned conductor Esa-Pekka Salonen and pianist Alexander Kantorow, who will perform works by Debussy and Beethoven [2] - The closing concert will be conducted by music director Yu Long, featuring a commissioned piece by composer Zou Ye to commemorate the 80th anniversary of the victory in the Chinese People's Anti-Japanese War and the World Anti-Fascist War [2] Group 3: Special Themes and Collaborations - MISA will debut an environmentally themed symphonic work titled "Tree," composed by Liang Haoyi, showcasing a unique sound palette and visual storytelling [2] - The festival will also include performances of game music, with orchestras presenting pieces from popular games like "Monster Hunter" and "Genshin Impact" [3] - Celebrating Bach's 340th anniversary, MISA will host three themed concerts featuring various ensembles, including the Goldfinch Baroque Ensemble and the German vocal group Sliks [3]

转自：北京日报客户端 锈色斑驳的钢架结构硬朗冷酷，火红色的灯光中，《千年等一回》《广寒宫》等歌曲冲破高炉向外传 递。5月20日晚，"钢铁之音·未来之境——2025常思思全景域沉浸式跨界概念独唱音乐会"在北京首钢园 三高炉上演。著名歌手常思思用百变的嗓音和沉浸式的舞台， 让音乐与工业遗存产生激烈的碰撞。 音乐会现 场，钢铁结构与演出现场在眼前碰撞。北京日报客户端记者 方非摄 作为中国钢铁工业的历史见证，首钢三高炉曾承载着共和国工业发展的辉煌记忆。在转换为文化地标 后，三高炉虽然曾多次举办演出与展览，但鲜少上演个人专场音乐会。此次常思思将音乐会选址三高炉 内部，将高达70米的巨型炉体与现代声光电技术交织，营造出兼具历史感与科技感的独特舞台。 原有的工业齿轮、管道等元素赫然眼前，音乐会的主舞台就在高炉内，把钢铁元素浑然天成地融为一 体。舞台上，常思思的声音时而花腔，时而流行，曲目设计上也非常大胆，既有《春天的芭蕾》《玛依 拉变奏曲》《汉服青史》等常思思的经典声乐代表作，也有选自音乐剧《剧院魅影》的高难度作品。此 外，改编版的《千年等一回》、风格灵动俏皮又兼具超高花腔的《广寒宫》，也在她的演绎下让观众眼 前一亮。 国 ...

聚焦并购热点。 从企业家角度看，随着社会变迁与经济发展，企业必须向现代化管理方向转型，这就涉及人才、文化、组织架 构等多方面变革，需引入外部非家族文化战略力量，助力企业迈入新发展阶段。 5月19日，由深圳证券交易所主办的2025全球投资者大会在深圳举行，会上来自交易所、券商、创投机构、上 市公司的代表热议当前并购重组市场进展，热议核心话题包括估值倒挂、投资者预期、方案设计挑战、跨界整 合难度等。 深交所创业板公司管理部总监徐正刚表示，随着《上市公司重大资产重组管理办法》修订实施，接下来将进一 步提升审核效率，加快推动简易程序案例落地，支持优质上市公司快速并购。 交易所四大举措活跃市场 近一年来，监管层为活跃并购重组市场出台一系列利好政策，其对市场的刺激效果如何，受到市场关注。 深交所创业板公司管理部总监徐正刚在5月19日的全球投资者大会上表示，"并购六条"发布后，深市并购重组 市场规模和活跃度显著提升，累计披露重组项目接近800单。其中，重大资产重组超过90单，同比增长超过 200%。审核效率进一步提高，2022年至2024年深交所持续优化监管审核机制，上市公司完成重大资产重组时 间平均压缩20%。 迈瑞医疗 ...