Core Viewpoint - The company, Yongxin Zhicheng Technology Group Co., Ltd., is conducting a differentiated equity distribution and special ex-rights and ex-dividend matters, which have been reviewed and approved by the sponsor institution, Guosen Securities [1][6]. Group 1: Reasons for Differentiated Equity Distribution - The company approved a share repurchase plan on February 18, 2024, to buy back its A-shares using its own or raised funds, with a repurchase price not exceeding 63.60 RMB per share and a total repurchase amount between 30 million RMB and 60 million RMB [1]. - The repurchased shares will be used for employee stock ownership plans or equity incentives, and the repurchase period is set for six months from the board's approval date [1]. Group 2: Differentiated Equity Distribution Plan - On May 20, 2025, the company’s annual general meeting approved a profit distribution and capital reserve transfer plan, distributing a cash dividend of 0.50 RMB (tax included) for every 10 shares and transferring 4.8 shares for every 10 shares from capital reserves [2]. - Shares held in the repurchase account will not participate in this profit distribution or capital reserve transfer [2]. Group 3: Calculation of Ex-rights and Ex-dividend Reference Price - As of May 20, 2025, the total share capital of the company is 102,234,195 shares, with 718,937 shares in the repurchase account, resulting in 101,515,258 shares participating in the distribution [3]. - The total cash dividend to be distributed is approximately 5,075,762.90 RMB (tax included) [3]. - The ex-rights and ex-dividend reference price is calculated as approximately 25.42568 RMB per share based on the previous closing price of 37.68 RMB [3]. Group 4: Compliance with Regulations - The differentiated equity distribution complies with regulations stating that repurchased shares do not participate in profit distribution [2]. - The impact of the differentiated equity distribution on the ex-rights and ex-dividend reference price is less than 1%, confirming that the distribution amounts remain unchanged [5]. - The sponsor institution has no objections to the differentiated equity distribution and confirms that all necessary approval procedures have been followed [6].

北京市鑫河律师事务所 BEIJING X.H.LAW FIRM 北京市鑫河律师事务所 关于宁波金田铜业（集团）股份有限公司 差异化分红事项的法律意见书 地址：北京市西城区太平街 6 号富力摩根中心 E 座 901 室 邮编：100050 电话：（8610）59362077 传真：（8610）59362188 网址：www.xhlaw.cn 鑫河律师事务所 法律意见书 北京市鑫河律师事务所 关于宁波金田铜业（集团）股份有限公司 差异化分红事项的法律意见书 致：宁波金田铜业（集团）股份有限公司 北京市鑫河律师事务所（以下简称"本所"）接受宁波金田铜业（集团）股 份有限公司（以下简称"金田股份"或"公司"）的委托，就公司 2024 年度利 润分配所涉及的差异化分红（以下简称"本次差异化分红"）相关事项，根据《公 司法》、《证券法》、《上市公司股份回购规则》、《上海证券交易所股票上市 规则》、《上海证券交易所交易规则》、《上海证券交易所上市公司自律监管指 引第 7 号——回购股份》等相关法律、法规及中国证监会、上海证券交易所的有 关规定，出具本法律意见书。 为出具本法律意见书之目的，本所律师审阅了金田股份与本次差异化 ...

天禾律师 广大特材差异化分红法律意见书 安徽天禾律师事务所 关于张家港广大特材股份有限公司 差异化分红事项的 法律意见书 天律意 2025 第 01132 号 致：张家港广大特材股份有限公司 安徽天禾律师事务所接受张家港广大特材股份有限公司（以下简称"广 大特材"或"公司"）的委托，就广大特材 2024 年度利润分配所涉及的差异 化分红事项，根据《中华人民共和国公司法》（以下简称《公司法》）、《中 华人民共和国证券法》（以下简称《证券法》）、《上市公司股份回购规则》 《上海证券交易所上市公司自律监管指引第 7 号——回购股份》等法律、行政 法规、规范性文件和中国证监会、上交所的有关规定，出具本法律意见书。 三、在有关事实无法获得其他资料佐证或基于本所专业无法作出核查及 判断时，本所不得不依靠广大特材及有关人士、有关机构单位出具的证明文 天禾律师 广大特材差异化分红法律意见书 件、说明性文件或专业性文件而出具本法律意见书。本所已得到广大特材及 有关各方的保证，其向本所提供的所有法律文件和资料（包括原始书面材料、 副本材料或口头证言）均是完整的、真实的、有效的，且已将全部事实向本 所律师披露，无任何隐瞒、遗漏、虚 ...

Core Insights - The article highlights the rapid growth and transformation of 5G technology over the past six years, emphasizing its role in driving economic development and digital transformation across various industries [1] - Despite the increase in 5G users and infrastructure, telecom operators are facing a challenge of "incremental growth without revenue increase," necessitating a shift towards differentiated connectivity strategies [2][3] Industry Overview - As of April 2025, China has established 4.439 million 5G base stations, with 1.081 billion 5G mobile users, accounting for nearly 60% of total mobile phone users [1] - Major telecom operators in China reported significant user growth, with China Mobile reaching 1.003 billion total mobile users and 578 million 5G users, while China Telecom and China Unicom reported 429 million and 349 million total mobile users, respectively [2] Revenue Challenges - The average revenue per user (ARPU) for 5G packages is only about 10% higher than that of 4G, with many users opting for low-cost packages that do not significantly boost revenue [2] - The global telecom industry is experiencing a "pipeline" dilemma, where increased data traffic does not translate into proportional revenue growth [2] Differentiated Connectivity Strategy - Leading telecom operators are exploring differentiated connectivity strategies to enhance revenue and value for both industries and end-users [2][3] - Differentiated connectivity aims to provide tailored services based on user needs, such as basic packages for casual browsing and specialized subscriptions for high-demand applications like video calls and gaming [2] Programmable Networks - High-performance programmable networks are essential for supporting differentiated connectivity services, allowing for dynamic resource allocation and improved service delivery [3][4] - The key elements of programmable networks include high performance and programmability, which enable operators to respond quickly to market changes and reduce operational costs [4][5] Future Development - The transition to high-performance programmable networks is seen as a gradual process, starting with 5G standalone and advanced networks, focusing on enhancing operational efficiency and service differentiation [4][5] - Programmable networks aim to simplify the translation of user needs into executable plans, facilitating rapid service deployment and integrating AI and automation into network management [5]

Core Viewpoint - The intelligent license plate recognition system is becoming an essential part of modern traffic management, significantly improving efficiency and accuracy in various applications such as highway tolls, urban traffic management, and security monitoring [1][14]. Industry Overview - The license plate recognition system utilizes advanced technology to monitor and identify vehicle license information in real-time, playing a crucial role in modern intelligent traffic management [3]. - The market size of China's license plate recognition system industry reached 1.556 billion yuan in 2023, with an expected growth to 2.398 billion yuan by 2029, reflecting a compound annual growth rate (CAGR) of 7.47% [1][14]. Industry Chain - The upstream of the license plate recognition system industry includes components such as chips, sensors, displays, power supplies, and enclosures, with chips being the core component for image processing [8]. - The downstream applications encompass traffic management, vehicle monitoring, and parking management, highlighting the system's versatility in various sectors [8]. Competitive Landscape - The license plate recognition system industry is characterized by low concentration, with numerous small-scale enterprises. Major players include Hikvision, Dahua Technology, and Jieshun Technology, each leveraging their strengths in video monitoring and parking management [16][17]. Development Trends - Multi-modal recognition is identified as a future trend, integrating various sensors and data sources for enhanced vehicle identification and monitoring [21]. - Product differentiation is crucial for competitive advantage, necessitating improvements in service quality, functionality, and customization to meet diverse customer needs [22]. - Increased emphasis on data security and privacy protection is anticipated, driven by regulations such as the Personal Information Protection Law in China, requiring companies to adopt advanced data management practices [24].

点击 最 下方 " 推荐"、"赞 "及" 分享 "，"关注"材料汇 添加 小编微信 ，遇见 志同道合 的你 正文 瓦克化学复盘启示：差异化竞争、发力新技术与全球化布局 德国瓦克化学成立距今逾百年历史，系全球硅基和乙烯/醋酸基材料领先企业，公司有机硅销售额常年居全球第2、可再生分散胶粉等聚合物系列产品以及半导体多 晶硅等材料销售额全球第1。本文详细复盘瓦克化学发展历程，总结出三方面竞争要素： ①差异化竞争 （有机硅和聚合物专注于高附加值/特种产品，以及光伏多晶 硅专注于美国特定市场）； 2）发力新技术 （发力高成长潜力的半导体多晶硅和生物技术赛道）； 3）全球化布局 （三线并举：延伸上游、开拓市场和技术并 购），有望为中国化工企业提供参考和借鉴。 差异化竞争：专注高附加值/特种产品或特定市场，稳固传统业务优势 有机硅和聚合物是公司核心业务，2024 年营收占比50%/26%（EBITDA 占比41%/32%）。2010s 以来中国为代表的全球低成本产能扩张冲击下，公司专注于特种有 机硅等高附加值产品稳固竞争优势。有机硅方面，公司产品牌号3000 余种，2023 年特种有机硅占有机硅销售额比重达85%；聚合物方面 ...

Core Viewpoint - The acquisition of HaiChang Ocean Park by XiangYuan Holdings for HKD 22.95 billion marks a significant strategic move in the cultural tourism industry, addressing HaiChang's urgent need for capital while allowing XiangYuan to enhance its marine-themed offerings [1][3]. Financial Overview - HaiChang will utilize the HKD 22.95 billion primarily for operational funding, core business development, and debt repayment, as it faces a net current liability of CNY 2.953 billion and an impending loss of CNY 750 million in 2024 [3][10]. - XiangYuan's Q1 2025 financial report shows a revenue of CNY 212 million, a 55.22% increase year-on-year, and a net profit of CNY 31.19 million, up 158.67% [4]. Strategic Considerations - The partnership aims to create a complementary relationship, combining XiangYuan's natural scenic assets with HaiChang's theme park expertise, addressing the growing consumer demand for diverse and high-quality leisure experiences [6][9]. - The collaboration is expected to leverage shared customer bases, with HaiChang's parks attracting over 10 million visitors in 2024 and XiangYuan's sites receiving over 40 million annually, creating a substantial potential user pool [6][7]. Operational Synergies - The integration of XiangYuan's extensive network of scenic spots with HaiChang's theme parks is anticipated to enhance operational efficiency and customer flow, potentially overcoming the competitive disadvantages faced by individual attractions [7][9]. - Both companies plan to maintain HaiChang's brand identity while focusing on operational stability and strategic alignment in their future endeavors [9]. Market Challenges - Despite the potential benefits, HaiChang is currently grappling with significant losses and liquidity issues, raising concerns about whether XiangYuan's investment can effectively revitalize HaiChang's cash flow and operational performance [10].

【环球网科技报道 记者 张阳】当前，全球电信行业正面临"增量不增收"的发展瓶颈。5G网络建设虽持续推进，但运营商普遍陷入"管道化"困境——网络流 量增长未能转化为相应的收入提升，甚至出现"增量减收"现象。这一问题的根源在于传统网络服务模式的同质化：标准化的连接服务难以满足多样化的市场 需求，高价值业务与普通业务无法在网络资源分配中体现差异。 爱立信全球先进技术亚太区主管Sheng-Ann Yu补充道，"网络差异化服务的体验在拥堵场景下尤为明显。比如，在音乐会等高密度场景中，新加坡电信实现 了网络切片动态调度，VIP用户在人群拥堵时段仍能保持4倍于普通用户的带宽保障。这种'钻石级服务'不仅带来了套餐溢价空间，更创造了打车的场景化商 业闭环——优先保障高价值用户的即时出行需求，间接拉动了合作伙伴的收益分成。此外，随着5G-A技术的发展，低空经济、通感一体等新兴应用也将进 一步丰富差异化服务的内涵。" 在此背景下，"差异化连接"成为行业共识。爱立信中国网络产品方案总经理吴日平认为，差异化连接的核心是通过技术手段识别不同业务的价值，为高优先 级应用提供定制化网络保障，同时实现资源的动态高效调度。例如，在商务会议、远程 ...

Core Viewpoint - The company has announced a differentiated cash dividend distribution plan for the fiscal year 2024, with a proposed cash dividend of 0.23 yuan per share, totaling approximately 29.25 million yuan before tax [2][3]. Dividend Distribution Plan - The company will distribute a cash dividend of 2.30 yuan for every 10 shares held, based on a total share count of 128,903,136 shares, excluding shares held in the company's repurchase account [2]. - The total cash dividend amount is calculated after deducting 1,732,884 shares held in the repurchase account, resulting in a net distribution base of 127,170,283 shares [2][3]. - The company will not issue bonus shares or increase capital reserves through stock dividends for the fiscal year 2024 [2]. Relevant Dates - The key dates for the dividend distribution include the record date, ex-dividend date, and cash dividend payment date, which are specified in the announcement [3][4]. Tax Implications - For individual shareholders holding shares for over one year, the cash dividend of 0.23 yuan per share is exempt from individual income tax [4]. - For shares held for one year or less, the company will not withhold income tax at the time of distribution, but tax will be calculated and deducted upon the sale of shares [4]. - Non-resident enterprises will be subject to a 10% corporate income tax, resulting in a net cash dividend of 0.207 yuan per share [5][6]. Distribution Method - Cash dividends will be distributed through the China Securities Depository and Clearing Corporation Limited Shanghai Branch to shareholders registered by the record date [4]. - Shares held in the company's repurchase account will not participate in the profit distribution [4].

以下文章来源于毒眸 ，作者毒眸编辑部 毒眸 . 看透娱乐，死磕真相 如何用正确的姿势点歌。 文 ｜ 李欣媛 编辑 ｜ 刘南豆 来源｜ 毒眸（ID：DomoreDumou） 封面来源 ｜ Pexels 纵然是文笔细腻的刘若英写下的致歉声明，也没能扭转大众对于"演唱会姐妹点歌事件"的不满。 不少粉丝会在点歌环节分享自己的人生经历，这使得艺人的作品超越了广泛的流行意义，而是成为了粉丝人生某一阶段的BGM。周杰伦演唱会上，女生 分享自己分手经历，点了一首《算什么男人》怒怼前男友；五月天演唱会上，为了纪念去世的弟弟，女生点了一首《happy.BIRTH.day》。这些瞬间让歌 曲从公共符号转化为个人情感载体。 但点歌机会毕竟有限，为了能够赢得与艺人的互动机会，粉丝们开始使出浑身解数，想方设法吸引艺人注意。这让很多演唱会的前排点歌区，堪比"百变 大咖秀"。有的人戴上搞笑头套，有的人穿上定制衣服，更多粉丝会选择朴实地制作创意手工点歌牌，有的制作刮刮乐，有的制作转盘，现场变成了"艺术 创想"成品验收区。 前不久刘若英汕头演唱会的点歌环节，一位小粉丝被抽中，要求合唱《诚实》，身旁的妹妹抢过话筒要求合唱《后来》，之后刘若英为了弥 ...