企业证券的缺失首席董小斌今天跟我一起主持会议的还有我的同事刘欣瑶那我们看到长城的话在5月1号也发布了4月份的这样的一个产销的一个快报那今天的话我们也是非常荣幸的邀请到了公司的白宇总来跟各位投资者做一个交流那要不我们首先请白总先介绍一下4月份的一个销量情况然后后面的话我们就进入到一个问答环节谢谢 尊敬的各位股东各位投资者大家早上好我是长城汽车白宇欢迎大家来参加长城汽车四月销量电话会也非常感谢兴业证券董事长宾总刘欣尧总组织本次会议首先祝大家复工顺利下面我先向大家汇报公司四月的销量情况之后我再来回复大家的提问那么5月1号公司发布了2025年4月的销量数据 4月公司销售新车10万061辆同比增长5.55%20万元以上车型销售26360辆同比增长2.87%新能源车型销售28813辆同比增长28.42%放盒子车型销售43182辆同比增长24.74%位列中国放盒子销量第一根据易车的相关数据公司在中国硬派越野市场也是持续领跑 4月23日公司旗下哈佛卫牌坎克欧拉长城皮卡和长城灵魂摩托六大品牌且主力车型齐聚上海车展期间长城汽车换新了企业logo推出4.0TV8发动机受到市场和媒体的高度关注那么分品牌来看哈佛品牌4月销售新车567 ...

每天十分钟 拆解新闻背后的逻辑大家好 今天是2025年的5月28号星期三我是赌小姐今天的国内市场的情绪仍然比较低整体市场的机会是比较缺乏的我们对于国内和国外两个市场的观点没有发生方向性的变化所以时间紧张的朋友可以把今天的内容跳过去首先我们看一下国内市场 护士粮食的成交量现在是一个非常关键的指标它是市场情绪的体现今天在最后收盘前的一分钟这个成交量是艰难的守住了1万亿但是说实话1万亿在目前这么大的一个盘子之下是比较低的一个水平说明整体市场的情绪是逐步下滑的那么三大指数也在这种压力之下微微收跌未来一段时间个人理解在没有重大好消息的情况之下它仍然可能 延续震荡的模式跟内地市场相对比香港市场的麻烦会更大一点我们看到它的成交量收缩会更明显这个实际上在前几天我们就给大家提示过风险香港市场现在面对的好像不仅仅是一个简单的震荡它好像流动性或者资金的态度上面出现了一个坎出现了一些问题所以香港市场当中整体的跌幅要比内地会更大一点 尤其是一些指标性的概念性的赛道就前段时间炒的闪亮亮站在C位的一些赛道那么现在也是脑袋上被浇了一盆水就是今天大家看到的新消费这个赛道一些潮玩一些龙头是出现了超过6%以上的跌幅那么这种情况这个故事好像在前几天 ...

尊敬的各位股东投资人广大关注关心和支持通微股份的朋友们大家下午好那么欢迎大家参加通微股份2024年年度及2025年第一季度一级说明会也非常感谢上海智能交易所上证路远中心那么为公司搭建这样一个便捷高效的投资者交易平台 能够让公司与全体投资者一起分享通微股份在过去一年中的经营得失以及对未来的发展展望那么我是本次业绩说明会的主持人通微股份董事会秘书严柯 那么下面呢我为大家介绍现场出席本次会议的公司管理层那么他们分别是通微股份副董事长野虎先生通微股份光复首席技术官通微太阳能有限公司国家级技术中心主任秦国强先生通微股份财务总监周斌先生以及公司董事会秘书颜柯及我本人 那本次说明会共分为那么公司管理层支持2024年及2025年一季度公司经营成果与主要义务发展汇报现场投资者互动交流网络文字互动交流 四项议程总时长大概90分钟各位投资者如有提问或者对公司的建议可以在互动交流环节现场或者通过网络方式提出那么公司将本着诚信认真负责任的态度进行解答与研究 我们希望通过此次交流能够向投资者全面客观地传达公司发展情况和投资价值进一步增进各位投资者对公司的了解与信心那么下面我们正式进入本次业绩说明会的第一个环节有请通微股份副董事长野虎先生 ...

贵投资者朋友大家下午好我是长江金属煤炭小组的肖勇跟贵投资者朋友就煤炭行业25年年度的一个投资策略做一下分享和反馈 我们主要从几个维度对整个煤炭板块后面的一个投资机会做相应的一个介绍首先是今年以来整个煤炭板块的商品盈利和股票的表现简单做一下覆盘其次的话是对当前大家 比较关注的一些中长期问题做一些分析解读第三个就是在短期上投资维度做一下相应的展望最后是相关的标的领域做一下简要的介绍主要是这四个领域跟各位投资的朋友做一下相应的反馈首先从年初以来的表现上来看的话这个板块今年表现是 最差的整体年出资金的涨跌幅是-13%左右那么从分板块的角度来讲的话东里煤和焦煤分别去看首先东里煤的整个表现在今年以来商品的跌幅呢达到了20%多 引力方面我们也看一下如果跟历史引力做一下比较现在东宁煤可能大致处在2019年的这样一个分位值的水平如果去看一些现金指标来看的话它可能处在2015年的这个水平所以反映的结果就是整体而言现在东宁煤的引力表现在商品下跌的情况之下的话它其实是回落的比较明显 那么股票的表现呢整个多米煤板块的跌幅大概是2个点左右这是年初以来的边界表现然后多米煤的整个表现偏弱最主要的因素呢如果我们去总结来看的话主要是来自于需求的 ...

大家好今天是2025年的7月9号星期三我是董小姐今天的消息面上比较寡淡不足以改变对于目前市场方向的判断所以时间紧张的朋友可以把今天的内容跳过去我们首先整体来看一下国内市场的表现 很多的朋友今天应该是有点失望在昨天整体市场大涨之后是有更多期待的但是今天看到滬深两市小幅盘整这个怎么去理解它我们知道昨天市场是非常亢奋的这个显得有点体力透支所以稍微的去做一下原地的徘徊是可以理解的其实市场的情绪还是不错的 我们看到今天全市场沪深两市的成交量是1.5万亿左右相比昨天还在小步的恢复说明市场的情绪现在还是在向上回暖的过程当中整体的趋势是没有被破坏掉的我们继续沿着我们的方法论三条逻辑线来理一理看看各个方向上有哪些最新的动向第一个逻辑线是宏观基本面今天发布了一个重要的数据6月份的通胀数据两个 分别是CPI和PPI前一个代表的是居民所能够感受到的通胀水平后一个代表的是企业端感受到的物价上涨的程度CPI也就是老百姓所能够感受到的这个数据是出现了0.1%的同比上涨但如果看环比数据还是在下降的过程当中下降了0.1%所以数据没有明显的改善只能说没有再继续的恶化 所以对于资本市场来说呢很多的消费板块或许心里面的石头落了地啊说没有让这个数据再 ...

Summary of Conference Call Notes Industry or Company Involved - The conference call primarily discusses the telecommunications and electronics industry, with a focus on companies like Zhongtai Telecom and others involved in the supply chain and manufacturing of electronic components. Core Points and Arguments 1. **Market Differentiation**: The industry is experiencing significant differentiation, with some segments showing strong performance while others face challenges. [1] 2. **Pressure in Supply Chain**: The refining stages of the supply chain are under considerable pressure, affecting overall operational capabilities. [2] 3. **Profit Margins**: There is a notable disparity in profit margins, with leading companies maintaining positive margins while non-leading firms struggle with losses. [3] 4. **Demand and Supply Dynamics**: The demand side shows some strength, particularly in the first quarter, but the overall outlook remains cautious due to potential pressures in the second quarter. [3] 5. **Focus on Leading Companies**: Recommendations suggest prioritizing investments in companies with solid reports and proven track records, particularly in the context of ongoing market pressures. [4] 6. **Improvement in Financial Performance**: Companies like Fucai have shown improvements in operational capabilities, driven by strong group dynamics and market positioning. [5] 7. **Market Conditions**: The overall market conditions are expected to remain stable, with a focus on technological advancements and new materials driving future growth. [10] 8. **Regional Performance**: China’s performance aligns with expectations, with significant orders coming from India, the Middle East, and parts of Europe, despite previous high inventory levels. [7] 9. **Emerging Markets**: The demand in emerging markets is increasing, particularly in Europe, where economic conditions are improving. [13] 10. **Future Projections**: The second half of the year is anticipated to see increased shipping volumes, particularly in traditional peak seasons, despite some challenges in the U.S. market. [15] 11. **Valuation and Market Positioning**: Current valuations are seen as attractive, with expectations of recovery as tariff impacts diminish. [16] 12. **Operational Stability**: Companies are maintaining stable operational levels despite low surface margins, indicating resilience in the face of market challenges. [11] 13. **Technological Advancements**: Innovations in technology, particularly in materials like copper and silver paste, are expected to enhance operational efficiencies. [10] 14. **Investment Recommendations**: There is a strong recommendation for investing in companies with robust operational capabilities and market positioning, particularly in the context of ongoing industry changes. [12] 15. **Long-term Growth Potential**: The overall sentiment is optimistic regarding long-term growth, with expectations of significant improvements in operational performance and market share. [20] Other Important but Possibly Overlooked Content 1. **Market Sentiment**: There is a cautious optimism regarding the recovery of the market, with expectations of improved performance in the coming quarters. [17] 2. **Supply Chain Adjustments**: Companies are adjusting their supply chains to better meet the evolving demands of the market, particularly in response to technological changes. [25] 3. **Investment in New Technologies**: There is a focus on investing in new technologies and materials to enhance competitiveness and operational efficiency. [10] 4. **Regional Disparities**: The performance of companies varies significantly by region, with some areas showing stronger growth potential than others. [22] 5. **Future Market Dynamics**: The dynamics of the market are expected to shift, with increased competition and the need for companies to adapt to changing consumer demands. [30]

Investment Rating - The report initiates coverage with a "Buy" rating for the company [11][13]. Core Viewpoints - The company operates in three main segments: energy technology services, energy logistics services, and low-carbon environmental and digitalization services. It has shown significant cost reduction and efficiency improvements since its listing, with a steady decline in operating expenses. Despite fluctuations in oil prices, the company's performance has been consistently growing, benefiting from the national seven-year action plan [2][7][46]. - The global potential for offshore oil and gas resources is substantial, with ultra-deepwater being a future trend. The company is well-positioned to capitalize on increased exploration and development efforts in offshore oil and gas, especially as domestic oil companies increase capital expenditures to enhance energy security [8][54]. - The company has a strong correlation between its revenue and profitability with the production activities of CNOOC, demonstrating resilience against oil price fluctuations. The average dividend payout ratio since its listing is 35.62%, indicating robust dividend potential as earnings continue to grow [10][39]. Summary by Sections Company Overview - The company is a publicly listed entity controlled by China National Offshore Oil Corporation (CNOOC), focusing on offshore and onshore oil and gas production. It aims to become a world-class energy technology service provider with a Chinese characteristic [7][30]. Business Segments - The company’s business is divided into three main categories: 1. Energy technology services, which have seen rapid revenue growth. 2. Energy logistics services, which are expected to benefit from stable demand for LNG transportation. 3. Low-carbon environmental and digitalization services, which are crucial for sustainable development [9][36][39]. Financial Performance - In 2024, the company achieved a revenue of 52.517 billion yuan, with energy logistics services contributing 23.210 billion yuan, energy technology services 21.733 billion yuan, and low-carbon services 10.060 billion yuan. The revenue from CNOOC accounted for 61.7% of total revenue [39][42]. - The company’s net profit for 2024 was 3.656 billion yuan, reflecting an 18.66% year-on-year increase, supported by a steady rise in operational efficiency and cost management [46][48]. Market Trends - The report highlights the increasing reliance on foreign oil and gas, with crude oil dependency reaching 72.1% and natural gas dependency at 42% by 2024. This trend emphasizes the need for enhanced domestic exploration and production efforts [55][56]. - The company is expected to benefit from CNOOC's stable capital expenditures, which are projected to increase significantly despite fluctuations in oil prices, supporting the overall offshore oil service industry [65][66].

努曼陀罗（丽江）管理咨询合伙企业执行事务合伙人霍虹屹对《证券日报》记者表示，在新能源车、储 能、轨交等领域带动下，高端电容膜市场正迎来结构性扩容。在"双碳"目标推动下，功率电子加速向轻 量化、小型化、高耐压发展，电容膜处于技术密集度提升与国产化生产加快的双重周期中。 他还表示，华生科技此时进入高端电容膜市场，正值下游需求扩张与国产替代加快推进之际。公司项目 快速推进、初步完成产线验证，具备一定切入基础。但高端电容膜技术门槛高、客户认证周期长、市场 集中度高，新进入者仍需在产品稳定性与客户拓展之间建立长期竞争力。 该项目于2022年立项，总投资约4.7亿元，是华生科技近年来战略转型的重点工程之一。公告显示，尽 管目前电容薄膜业务在公司整体营收中占比仍小，但项目的推进将有助于完善产品布局、提升综合竞争 力，并培育新的利润增长点。从公司长期战略来看，该项目亦被视为探索"第二增长曲线"的关键支点。 未来，公司计划通过技术与管理创新，推动产品有序进入行业中高端市场。 电容薄膜是电容器制造的核心材料之一，广泛应用于新能源汽车、储能系统、轨道交通、光伏逆变器等 领域。该类材料对介电性能、热稳定性、绝缘性等方面有较高要求，属 ...

二、三个阶段性市场机遇 2025年上半年，我国汽车产销在政策与市场的双重驱动下交出亮眼成绩单，但业内普遍对下半年市 场行情表示担忧。有人认为，由于上半年透支消费，加之政策边际效应减弱，下半年汽车市场可能出现 明显收缩，预判全年汽车产销规模大致与2024年相当。但笔者认为，尽管近年来国内汽车市场受大环境 影响，增长出现乏力，但在行业创新聚力、配套政策给力、消费释放潜力"三力"叠加作用下，下半年汽 车市场将总体保持稳定，部分地区和细分市场仍有增长空间。 一、三大确定性支撑力量 一是多项促消费政策稳定延续，持续巩固市场规模。当前我国经济正处于巩固回升向好的关键阶 段，党的二十届三中全会和中央经济工作会议明确提出，稳增长、扩内需是当前经济工作的核心任务。 在顶层战略指引下，国家发布"两新"系列政策，明确开展汽车以旧换新和报废更新，设置了明确的实施 周期和政策目标。同时，新能源汽车车辆购置税减免政策将按既定计划延续至2027年底，公共领域车辆 全面电动化、县域充换电设施补短板等试点也在年初接续实施，进一步降低了新能源汽车购置成本，优 化了消费环境。稳定有力的政策举措有效激发了汽车消费潜力，也为汽车企业研发创新、产品规划 ...

重庆：到2027年 全市智能网联新能源汽车领域新增上市企业5家以上 智通财经7月16日电，重庆市经济和信息化委员会近日就《重庆市智能网联新能源汽车产业链"渝链智 擎"行动计划（2025—2027）》公开征求意见。其中提出，提升金融赋能作用。鼓励市级产业母基金及 相关子基金加大对智能网联新能源汽车零部件领域投资力度，探索在智能网联新能源汽车领域建立政府 引导基金容错机制。做深做实上市协调机制和并购融资金融服务，重点发掘智能网联新能源汽车领域符 合上市条件和并购条件的企业，对上市好苗子早入库、早服务、早培育。完善银行考核评价指标，将金 融支持智能网联新能源汽车产业链情况作为银行机构年度评先评优的重要评价指标。到2027年，全市智 能网联新能源汽车领域新增上市企业5家以上，推出25项以上汽车产业定制化金融产品。 ...