Accuray (ARAY) 2025 Conference June 04, 2025 05:30 PM ET Speaker0 All right. Thank you, everyone, for attending. My name is Young Lee, one of the med tech analysts here at Jefferies. Really happy, to be with, Accuray. To my left, Accuray's CFO, Ali Pervais. Thanks for coming. I guess to begin, why don't we start a little bit high level. Just wanted to get an overview about end market growth, your competitive share position, and where Accuray sits or fits in the radiation oncology treatment paradigm. Speaker ...

端午假期 全国邮政快递业揽收快递包裹超15亿件 同比增长19.4% 智通财经6月3日电，国家邮政局数据显示，端午假期，全国邮政快递业揽收快递包裹超15亿件，邮政快 递企业通过加大智能化设备的使用，提升特产生鲜产品寄递时效。全国邮政快递业揽收快递包裹15.11 亿件，同比增长19.4%。 ...

其中，5月吉利汽车新能源汽车销量同比增长1.35倍，增长势头强劲；上汽集团5月新能源汽车产量同比 增长84.31%，销量同比增长50.3%；长城汽车新能源汽车销量同比增长约三成。 上汽集团5月销量实现约36.6万辆，同比增长约10.14%；年内累计销量实现168.74万辆，规模仅次于比 亚迪，整体表现稳健，旗下部分子公司如上汽集团乘用车分公司等表现出良好的增长态势。 长城汽车5月销量约10万辆，同比增长11.78%，而年内累计销量微降，旗下哈弗品牌、WEY品牌等在5 月有不同程度的增长，但欧拉品牌销量同比下降67%，对整体增长产生了一定影响。 统计数据显示，主要车企新能源汽车销量逐步提升。 吉利汽车、比亚迪（002594）、上汽集团（600104）、长城汽车（601633）等相继披露最新单月产销报 告，尽管汽车行业竞争持续加剧，头部车企新能源汽车销量5月整体保持增长，不过海外市场出现一定 分化。 从5月单月销量来看，比亚迪以38.25万辆领先，同比增长15.3%，1—5月累计销量约176万辆，同比增长 约四成，位居榜首。 吉利汽车5月销量为23.52万辆，同比增长46%，年内累计销量同比增长近五成，增速较快。 ...

5月30日晚间，威帝股份（603023.SH）正式发布《关于撤销退市风险警示暨停牌的公告》。公告显 示，公司股票将撤销退市风险警示，公司证券简称由"*ST威帝"变更为"威帝股份"，股票代码仍 为"603023"，公司股票将于2025年6月3日停牌一天，自2025年6月4日起复牌交易，股票价格的日涨跌幅 限制由5%变为10%。 此外，2024年12月，威帝股份还完成了一项关键战略布局——成功收购阿法硅51%股权，成为其控股股 东。此举标志着威帝股份正式进军乘用车电子领域。阿法硅目前主要为奇瑞新能源提供中控显示屏、液 晶仪表屏、组合仪表及控制器等产品，此次收购为威帝股份开辟了全新的业务增长空间和市场赛道。 随着公司正式撤销退市风险警示，重回稳健发展轨道，叠加公司自身面向乘用车领域的战略布局落地， 威帝股份正迎来全新的发展阶段，其2025年的增长蓝图值得市场期待。（燕云） （文章来源：证券时报网） 威帝股份根据《上海证券交易所股票上市规则》的相关规定自查，公司股票触及退市风险警示的情形已 经消除，满足《上海证券交易所股票上市规则》规定的可以申请撤销对公司股票实施退市风险警示的条 件，因此，公司于2025年4月29日 ...

深桑达Ａ回应，公司洁净室业务主要聚焦半导体、生物医药和先进制造业等领域，凭借在洁净室设计、建设、管理与运维方面的核心能力，为客户提供专业 服务。去年行业竞争激烈，产生了结算周期长、项目款项积压等问题，导致公司利润率下滑。 5月29日晚间，深桑达Ａ(000032)发布公告称，公司董事会于近日收到公司董事长司云聪、董事谢庆华、董事张向宏提交的书面辞职报告。公司将尽快完成 新任董事提名及董事、董事长选举程序，以达到《公司章程》规定的董事会组成人数及职位设置。 司云聪因退休原因，提请辞去公司第九届董事会董事长、董事，董事会战略委员会主任委员及信息披露委员会主任委员职务。司云聪辞职后，不再担任公司 其他职务。截至本公告出具日，司云聪未持有公司股票，亦不存在应履行而未履行的承诺事项。 谢庆华因工作变动原因，提请辞去公司第九届董事会董事，董事会战略委员会委员及提名、薪酬与考核委员会委员职务。谢庆华辞职后，不再担任公司其他 职务。截至本公告出具日，谢庆华未持有公司股票，亦不存在应履行而未履行的承诺事项。 张向宏因退休原因，提请辞去公司第九届董事会董事及董事会战略委员会委员职务。张向宏辞职后，不再担任公司其他职务。截至本公告出 ...

Envista (NVST) 2025 Conference May 28, 2025 01:50 PM ET Speaker0 We'll get going. Jon Block from Stifel. Good to see everyone again for the afternoon. And for our next session, we're excited to be rejoined by Envista's CEO, Paul Keel. Paul, thanks for coming. I'm sure you remember you were appointed CEO at Envista a little over a year ago and you did me a huge favor because we were really hoping Envista was going to come. You only had a month or so on the job and you still attended Jaws and Paul. So I'll st ...

直播业务下滑主要因BIGO付费用户数量减少和平均收入下降。公司对非核心音频直播产品的互动功能 进行调整。欢聚踩下"刹车"，调整非核心音频直播产品发展方向，优化收益分成机制，逐步淘汰投资回 报率为负的渠道。 在投放策略方面，公司根据实时投资回报率，优先将预算分配给发达国家优质用户。虽然直播收入下 滑，但发达国家市场直播收入占比同比增长2.8个百分点，达到47.4%。 广告业务成增长亮点 欢聚集团发布2025年第一季度财报，显示营收4.94亿美元，同比下降12.4%。这一变化主要由直播业务 收入大幅减少导致。核心直播业务收入为3.71亿美元，较去年同期下滑超过20%。与此同时，公司在本 季度完成YY直播出售，确认收益约18.76亿美元，推动归属股东净利润达到19.2亿美元。 直播业务承压寻求转型 欢聚核心业务聚焦海外市场，包含BigoLive直播平台、Likee短视频平台、Hago互动社交平台。直播仍 为主营业务，但正经历下行周期。用户数据显示承压迹象明显。 BIGO板块付费用户数为145万，同比减少13.2%。每用户平均收入为221.6美元，较上年同期下降约 5.8%。BigoLive平均移动月活跃用户2890 ...

在全球娱乐直播行业红利见顶、增长承压之际，老牌社交娱乐平台JOYY（纳斯达克：JOYY，以下简 称"欢聚"）正试图寻找新增长引擎。 根据公司披露的2025年第一季度未经审计财报，公司该季度营收为4.94亿美元，较2024年同期的5.65亿 美元下降12.4%。这一变化主要受到直播业务收入锐减的影响。核心直播业务收入为3.71亿美元，较去 年同期下降逾20%。 欢聚在2025年第一季度完成出售YY直播（互动直播平台），确认收益约为18.76亿美元，使得归属于公 司股东的净利润达到19.2亿美元。非GAAP（通用会计准则）营业利润为3100万美元，同比增长 24.9%。 不过，在直播业务增长失速的同时，欢聚的广告业务表现亮眼，成为推动非直播业务增长的关键因素。 2025年是李婷担任欢聚首席执行官的第一个完整财年，面对此份财报，她表示："期待非直播业务成为 欢聚时代的第二增长引擎。" 娱乐直播业绩承压，行业龙头纷纷寻求转型 今年2月25日，欢聚宣布与百度达成收购协议，百度以21亿美元（折合人民币约152.3亿元）总价收购欢 聚在国内的视频娱乐直播业务，即YY直播。 剥离YY直播后，欢聚核心业务聚焦海外，包含Bigo ...

Financial Data and Key Metrics Changes - The company reported total operating revenues of $63 million for Q1 2025, with FLNG tariffs reaching $73 million during the quarter [36] - Total EBITDA for Q1 was $41 million, driven largely by lower Brent and TTF prices, with a twelve-month EBITDA of $218 million [37] - The net income for the quarter was $13 million, consistent with the previous quarter, including $32 million of non-cash items [38] - The company declared a dividend of $0.25 per share, equating to approximately $105 million annually [38] Business Line Data and Key Metrics Changes - The Hilli FLNG maintained a 100% operational uptime and has delivered 132 cargoes since 2018, producing over 9.2 million tonnes of LNG [5][6] - The Gimi FLNG is in the final stage of commissioning, with a contractual EBITDA of $151 million based on 90% capacity utilization [7] - The Mark II FLNG conversion is progressing well, with a projected delivery by the end of 2027 [9] Market Data and Key Metrics Changes - The company has a market cap of approximately $4 billion and total net debt of under $100 million, with a net debt to EBITDA ratio of around 2.8x [5] - The LNG market is expected to grow significantly, with the U.S. being the largest producer, holding a 23% market share [21] Company Strategy and Development Direction - Golar LNG aims to transform into a market-leading infrastructure company with a focus on FLNG services, supported by a backlog of over $17 billion in EBITDA [11][72] - The company is targeting opportunities with competitive wellhead gas to secure attractive base tariffs with commodity upside participation [30] - The strategic focus includes risk mitigation in Argentina through regulatory frameworks and long-term contracts [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth potential, citing a strong backlog and favorable market conditions for LNG [60][67] - The board is open to exploring strategic alternatives if the share price does not reflect the company's value over time [90][94] Other Important Information - The company has fully exited LNG shipping with the sale of Golar Arctic and its equity stake in Avenir LNG [4] - The company is in discussions for potential new FLNG units and is ramping up shipyard activity to safeguard construction timelines [30][79] Q&A Session Summary Question: Could you touch on the overall commercial strategy for offtake on the Argentina projects? - The strategy involves a mix of Brent, JKM, and TTF linked volumes, with some left for spot sales, targeting high-paying countries near Argentina [76] Question: Is there any additional upside on the Argentina contracts for excess production? - The contracts are for full capacity, with no additional upside for excess production, similar to the Gimi contract [78] Question: When do you start thinking about ordering long lead items for another new build? - For conversions, the timeline is approximately three years, while new builds take about four years [79] Question: What is the JV's breakeven price for the commodity exposure? - The breakeven is assumed to start at $7.5, with upside from $8, and Golar is liable for 10% of the required investments for infrastructure [81][82] Question: Is the company considering strategic alternatives if the share price remains low? - The board is focused on creating value for shareholders and will consider options if the share price does not reflect the company's value over time [90][94] Question: Can you clarify any remaining CapEx associated with Gimi? - No material payments are expected in the second quarter, with revenues from Gimi to start contributing to the P&L upon commencement of operations [95]

Investment Rating - The report maintains a "Buy" rating for the company, with a target price of HK$24.00, representing a potential upside of 17.1% from the current price of HK$20.50 [5]. Core Insights - The company reported a strong performance in Q1 2025, with total revenue of RMB 4.4 billion, a year-on-year increase of 13%, exceeding both the report's and Bloomberg's expectations by 0.7% and 0.9% respectively. Adjusted net profit reached RMB 788 million, up 41% year-on-year, also surpassing forecasts [1][2]. - The core OTA business revenue was RMB 3.8 billion, accounting for 86.6% of total revenue, with a year-on-year growth of 18.4%, driven by strong performance in transportation ticketing and other services [2]. - The report anticipates stable growth in profits for the full year, with a projected 25% increase in operating profit and an 18% rise in non-GAAP net profit for the core OTA business in 2025 [1]. Summary by Sections Q1 2025 Performance - Total revenue was RMB 4.4 billion, a 13% increase year-on-year, with adjusted net profit at RMB 788 million, reflecting a 41% growth [1]. - The core OTA business saw revenue of RMB 3.8 billion, up 18.4% year-on-year, driven by growth in transportation ticketing and accommodation services [2]. Q2 2025 Outlook - For Q2 2025, total revenue is expected to reach RMB 4.7 billion, a 10% year-on-year increase, with core OTA revenue projected to grow by 13% [3]. - The report notes that while core OTA revenue growth may slow due to seasonal factors, a recovery is anticipated in the second half of the year [3]. Profitability and Margins - The overall operating margin improved to 18.7% in Q1 2025, up from 11.8% in Q1 2024, with the core OTA business margin expanding to 29.2% [4]. - The report predicts continued expansion of the core OTA's non-GAAP operating margin to 25.5% in Q2 2025, supported by healthy revenue growth and optimized sales and marketing expenses [4]. Financial Projections - Revenue projections for 2025-2027 have been slightly adjusted downwards by 2%, while non-GAAP net profit expectations remain largely unchanged [1][12]. - The company is expected to achieve total revenues of RMB 19.5 billion in 2025, with a year-on-year growth rate of 12.4% [10].