港股今日震荡走软，三大指数盘中均一度跌超1%，恒指再度失守两万五关口，并止步四连涨。截止收 盘，恒生指数跌0.89%或222.81点，报24858.82点，全日成交额为2067.2亿港元；恒生国企指数跌 0.96%，报8895.28点；恒生科技指数跌1.56%，报5460.3点。全周来看，恒指累涨1.43%，国指累涨 1.03%，恒科指累涨1.17%。 中银国际指出，香港股票市场流动性持续充裕，今年以来交易额上升。预计今年下半年内地投资者通过 南向交易对香港上市股票的强劲需求将持续，主要得益于高质量科技/高端制造股票的选择、港股的估 值吸引及股息较高。该行预测2025年内地-香港南向交易净流入将达1.2万亿元人民币，高于2024年的 7440亿元人民币及2023年的2894亿元人民币。 蓝筹股表现 中芯国际(00981)领跌蓝筹。截至收盘，跌8.19%，报48.66港元，成交额108.62亿港元，拖累恒指30.81 点。中芯国际二季度业绩显示，该集团取得收入22.09亿美元，同比增加16.2%，环比减少1.7%；归母净 利润1.32亿美元，同比下降19.5%。展望第三季度，中芯国际给出的收入指引为环比增长5% ...

农信机构的服务中，上述"非物"的需求满足更为突出，换言之，作为一家市场化主体，如果农信机 构只是提供标准化的金融服务和产品，那就与其他银行机构没有区别。正是源于其社区化、本地化属 性，农信机构更有空间为社区、小微和"三农"主体提供更具人性化的服务，这也是其充当金融资源"均 衡器"的重要体现之一。 3年前的4月18日，浙江农商联合银行挂牌成立，这也被称为"省联社改革第一单"。彼时，时任该行 党委书记、董事长的王小龙告诉记者，更名不改姓，浙江农信坚守定力，要持续实施以人为本、全方 位、成体系的普惠金融服务。3年过去了，浙江农信系统各行社在省农商联合银行战略部署下，沿着普 惠之路执着前行，深度参与社会治理，各项指标在浙江省银行业的领先优势进一步扩大，主要指标跃居 全国农信系统之首，这既得益于其秉承"以改革促发展"的理念，坚持金融的政治性、人民性，实现规 模、质量、效益的协调可持续发展，又有赖于其坚持立足本地、特色化经营，深度融入社会治理，构建 差异化竞争优势，还得益于省农商联合银行坚持科技赋能和线上线下结合，为农村中小银行提供适合其 发展的数字金融解决方案。近年来浙江农信系统取得的良好成效进一步说明，"小法人、大平 ...

Core Viewpoint - 汇通达网络 (9878.HK) shares surged by 36% to HKD 19.62, reaching a new high since June 11, driven by the announcement of a comprehensive cooperation agreement with Alibaba Cloud [1] Company Summary - The company announced a partnership with Alibaba Cloud, effective August 8, 2025, focusing on resource integration and complementary advantages [1] - The collaboration aims to explore innovations and applications in artificial intelligence and digital solutions, enhancing cooperation in cloud computing, AI, and digitalization in lower-tier markets [1] Market Activity - Following the announcement, the trading volume increased significantly, reaching HKD 530 million [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致的任何損失承擔任何責任。 Huitongda Network Co., Ltd. 匯通達網絡股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：9878） 自願性公告 與阿里雲簽訂全面合作協議 本公告由匯通達網絡股份有限公司（「本公司」），與其附屬公司統稱「本集團」）自 願作出，以讓本公司股東及潛在投資者知悉本集團的最新業務進展。 本公司董事（「董事」）會（「董事會」）欣然宣佈，於2025年8月8日，本公司與阿里 雲計算有限公司（「阿里雲」）簽訂全面合作協議（「全面合作協議」），雙方通過資源 整合與優勢互補，共同探索人工智能和數字化解決方案的創新及應用前景，深化 雲計算、人工智能及下沉市場數字化領域的協同合作（「全面合作」）。 根據全面合作協議，本集團及阿里雲預期於以下領域展開合作，包括： 1 (i) 全棧AI合作：本集團將接入通義千問大模型，結合本集團在零售行業的深度 經驗，將大模型及相關AI能力與本集團產業 ...

Summary of Jerry Corporation's Conference Call Company Overview - **Company**: Jerry Corporation - **Period**: First half of 2025 - **Revenue**: 6.894 billion CNY, up 37.72% YoY - **Net Profit**: 1.231 billion CNY, up 33.9% YoY - **Operating Cash Flow**: 3.144 billion CNY, up 196% YoY, a historical high - **Dividend Plan**: Increase in mid-term dividend to 1.5 CNY per share Key Financial Highlights - **New Orders**: 9.881 billion CNY, up 37.65% YoY, with domestic and international orders each accounting for half [2][6] - **Backlog**: 12.386 billion CNY, up 34.76% YoY, providing assurance for future performance [2][6] - **High-end Equipment Manufacturing Revenue**: 4.224 billion CNY, up 22.4%, with a gross margin of 38.28%, down 5.25% YoY [2][7] - **Oil and Gas Engineering Services Revenue**: 2 billion CNY, up 88%, with a gross margin of 23%, up 6% YoY [2][9] - **Natural Gas Business Revenue**: Nearly 2 billion CNY, up 112.69%, with a gross margin increase of 5.61% YoY [2][15] Business Segment Performance - **High-end Equipment Manufacturing**: Expected to maintain profit levels from the previous year despite delays in equipment delivery; new orders in North America anticipated to boost performance [8] - **Oil and Gas Engineering Services**: Significant growth driven by overseas markets; projects primarily funded through prepayments and progress payments, positively impacting financial health [9] - **Natural Gas Business**: Strong performance with significant revenue growth and new orders; expansion of production capacity in Dubai planned to double output [15][3] Research and Development - **R&D Investment**: 243 million CNY, up 20.01% YoY, focusing on digitalization, intelligence, and low-carbon technologies [4][13] - **New Technologies**: Development of advanced pump technology with zero loss over its lifecycle, enhancing market competitiveness [18] Market and Strategic Insights - **Overseas Market Performance**: Revenue of 3.295 billion CNY, up 38.38% YoY; strong order acquisition capabilities demonstrated [16] - **Middle East Market**: Identified as a strategic focus area with significant growth potential; ongoing projects expected to drive future revenue [23][24] - **Challenges**: High entry barriers in the Middle East market favor established players like Jerry, providing a competitive advantage [25] Future Outlook - **2026 Expectations**: Confidence in achieving profitability across business segments; ongoing management improvements expected to enhance financial performance [11] - **Natural Gas Business Strategy**: Continued focus on expanding capacity and market share, particularly in the Middle East and Central Asia [19][20] Additional Considerations - **Cost Management**: Sales and management expenses increased but at a lower rate than revenue growth, indicating effective cost control [12] - **Credit Management**: Improved receivables management led to a credit impairment gain of 101 million CNY [14] - **North American Market**: Positive outlook with significant order growth and stable profitability despite tariff challenges [34] This summary encapsulates the key points from Jerry Corporation's conference call, highlighting financial performance, business segment insights, strategic initiatives, and future outlook.

Financial Data and Key Metrics Changes - The company is on track to deliver $750 million in equity free cash flow for the year [3] - Adjusted EBITDA reached a new high of 46.7%, up 3.2 points year over year [5] - Equity free cash flow for the quarter was $218 million, bringing the H1 total to $395 million, an increase of nearly $126 million compared to $269 million in H1 of last year [19][29] - Service revenue for the quarter totaled €1.28 billion, representing a year-over-year decline of 5.9% due to foreign exchange impacts [16] - Organic service revenue growth accelerated to 2.4% when excluding FX impact [16] Business Line Data and Key Metrics Changes - The mobile business grew by mid-single digits, accelerating from 3.1% in the previous quarter [7] - Postpaid customer base grew by 14%, reaching nearly 9 million customers [7] - Home business added 41,000 customers, a growth of nearly 6% year on year [8] - B2B service revenue grew nearly 4% organically, driven by a 16% CAGR in digital services over the past two years [10] Market Data and Key Metrics Changes - In Colombia, service revenue accelerated to nearly 5% year over year, up from 3.6% in the previous quarter [10] - Guatemala's service revenue grew by 1.9% year on year, with a postpaid customer base expanding by 20% [12] - Panama's service revenue was nearly flat year on year at €170 million [22] - Bolivia's service revenue in local currency increased by 7%, but was insufficient to cover devaluation [23] Company Strategy and Development Direction - The company executed three major acquisitions, including Telefonica's Uruguay operations and a definitive agreement for Telefonica Ecuador [4] - Focus on migrating prepaid customers to postpaid to increase ARPU and reduce churn [41] - Emphasis on convergence, with 25% of new sales being convergent, which reduces churn and increases customer lifetime value [44] - Plans to maintain leverage below 2.5x while pursuing strategic M&A opportunities [30][56] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about recovery efforts, expecting positive growth in service revenue in 2025 [9] - The competitive environment in Guatemala is challenging, but the company is focused on ARPU development [35] - The demand for data is increasing, driving the need for migration from prepaid to postpaid [40] - Management expects to maintain strong cash flow generation and EBITDA growth despite ongoing challenges [61] Other Important Information - The company declared a special interim dividend of $2.5 per share, reflecting confidence in capital discipline [4] - Adjusted EBITDA growth was solid at 9.3% on an organic basis in the quarter [18] - The company is actively exploring digitalization initiatives to improve operational efficiency [49] Q&A Session Summary Question: Improvement in Guatemala and competitive environment - Management noted a significant migration from prepaid to postpaid, with postpaid penetration still low at 12% [34] - The company is building new sites to capture new communities and expects sustainable growth [35] Question: CapEx outlook - Expected CapEx for the year is between $650 million to $700 million, representing 11% to 12% of revenues [37][38] Question: Drivers for accelerating service revenue growth - Increased demand for data and migration from prepaid to postpaid are key drivers [40] - Price increases and improved customer quality are also contributing to revenue growth [42] Question: Cost control and restructuring costs - No significant restructuring costs are expected in H2, with ongoing cost control embedded in operations [48] Question: Leverage target and refinancing plans - The leverage target remains below 2.5x, including dividends and M&A [56] - The company prioritizes raising local currency debt and repaying US dollar debt [60] Question: Competitive landscape in Colombia - Management noted aggressive pricing from competitors but emphasized the importance of network quality and distribution [70] - Regulatory processes for acquisitions are ongoing, with expected approvals in Q3 and Q4 [73]

TFG Group Performance & Strategy - TFG achieved a strong 5-year Compound Annual Growth Rate (CAGR) of 10.5% through organic expansion and strategic acquisitions[175] - TFG Africa achieved a 5-year CAGR of 12.5% with a continued focus on store optimization[176] - TFG Africa is diversifying categories, with significant investment in Value and Homeware, and now Beauty, targeting R4.5 billion by 2029 in the beauty market[182, 186] - TFG London forecasts £0.5 billion turnover in FY26, representing 15% of total TFG at March '25[235] Financial Targets & Projections - TFG aims for a 3-year Total Africa CAGR of 12.9% in turnover, reaching R57.873 billion by FY28[110] - TFG projects a 3-year EBIT CAGR of 15.9%, reaching R11.169 billion by FY28[110] - TFG targets an EBIT margin of 14% and ROCE of 18% by 2028[110, 211] - TFG Australia is targeting a $1 billion business with an EBIT margin >10%[264] Strategic Initiatives - TFG plans to build out its Value-stack from R2 billion in FY20 to R14.7 billion by FY28[32] - TFG is expanding local apparel sourcing to 82% and has added 4 furniture and homeware factories[20] - TFG aims to generate R1.5 billion in omni sales turnover by FY28 through omni selling[165]

证券日报网讯 盈峰环境8月7日在互动平台回答投资者提问时表示，公司基于战略发展需要设立的子公 司，其设立旨在围绕公司主营业务及长远发展规划，探索与环保、智能装备等核心领域相关的数字化、 智能化技术应用与拓展，助力公司在智慧环保等方向的创新与升级。 （编辑 袁冠琳） ...

格隆汇8月7日丨容知日新(688768.SH)公布2025年半年度报告，报告期实现营业收入2.56亿元，同比增长 16.55%；归属于上市公司股东的净利润1423.55万元，同比增长2,063.42%；归属于上市公司股东的扣除 非经常性损益的净利润1323.72万元，同比增长3,091.44%；基本每股收益0.16元。主要系下游各行业推 动数字化、智能化转型升级，客户需求增加，带动公司销售收入实现增长；公司持续加强组织能力建 设，提高运营管理效率，毛利率和整体盈利能力进一步提升，带动公司净利润大幅增长。 ...

智通财经APP讯，容知日新(688768.SH)披露2025年半年度报告，报告期实现营收2.56亿元，同比增长 16.55%;归母净利润1424万元，同比增长2063.42%;扣非净利润1324万元，同比增长3091.44%;基本每股 收益0.16元。 报告期内公司利润总额、归属于上市公司股东的净利润、归属于上市公司股东的扣除非经常性损益的净 利润较去年实现较大增幅，基本每股收益、稀释每股收益、扣除非经常性损益后的基本每股收益均同比 上升，上述指标变动主要系下游各行业推动数字化、智能化转型升级，客户需求增加，带动公司销售收 入实现增长;公司持续加强组织能力建设，提高运营管理效率，毛利率和整体盈利能力进一步提升，带 动公司净利润大幅增长。 ...