Core Insights - The "CCTV Finance Excavator Index" indicates steady progress in infrastructure construction in China during April, with a notable increase in road construction and high operating rates for road equipment [1] Group 1: Overall Construction Activity - In April, 15 provinces in China reported a month-on-month increase in comprehensive operating rates, with six provinces showing an increase of over 10% [6] - The comprehensive operating rate in the Northeast region reached 61.13%, leading the country, with excavator operating rates at 69.25% [28] - The comprehensive operating rate in the Central region was 55.62%, with pile-driving equipment operating rates at 42.77%, the highest in the nation [29] Group 2: Regional Highlights - The Western region's port equipment operating rate was 43.04%, the highest among all regions, reflecting a 1.34% month-on-month increase [12][27] - The Eastern region's comprehensive operating rate was 47.91%, with concrete equipment operating rates at 47.20%, also the highest in its category [32] - In April, the Central region's equipment manufacturing sector accelerated due to advancements in high-tech industries like semiconductors and new energy vehicles [29] Group 3: Equipment Performance - Road equipment operating rates increased by 7.20% in April, with specific increases of 11.05% for pavers and 5.59% for rollers [9][25] - The Northeast region led in various equipment categories, with the crawler crane operating rate at 73.08% and the pile driver rate at 55.07% [28][30] - The Central region saw significant growth in specific equipment, with the tower crane workload increasing by 131.45% year-on-year [29]

证券代码：834765 证券简称：美之高 公告编号：2025-026 深圳市美之高科技股份有限公司 投资者关系活动记录表 本公司及董事会全体成员保证公告内容的真实、准确和完整，没有虚假记载、 误导性陈述或者重大遗漏，并对其内容的真实性、准确性和完整性承担个别及连 带法律责任。 一、 投资者关系活动类别 □特定对象调研 √业绩说明会 □媒体采访 □现场参观 □新闻发布会 □分析师会议 □路演活动 □其他 二、 投资者关系活动情况 活动时间：2025 年 5 月 14 日 活动地点：通过全景网"投资者关系互动平台"（https://ir.p5w.net）采用网络 远程的方式召开 2024 年年度报告业绩说明会。 参会单位及人员：通过网络方式参加公司 2024 年年度报告业绩说明会的投 资者。 上市公司接待人员：公司董事长/总经理黄华侨先生、公司财务总监李永先 生、公司董事会秘书汪岚女士、华创证券保荐代表人程利先生。 三、 投资者关系活动主要内容 本次业绩说明会通过播放年报讲解视频、公司宣传视频及图片展示等形式对 公司发展情况及 2024 年经营业绩情况进行介绍；同时公司在业绩说明会上就投 资者关心的问题进行了回答 ...

风险提示：国际贸易、地缘冲突超出预期；上市公司业绩增速回落超预期；全球经济衰退超预期。 从市场运行节奏看，沪指在周线箱体中轨线找到支撑，正在展开超跌反弹。沪指于 4 月中旬逐步企 稳反弹，目前已经回补了 4 月 7日的向下跳空缺口，上方正面临着今年一季度高点和去年四季度的成交 密集区的压力，预计继续反弹的阻力将有所增大，建议保持震荡市思维。 首先，中美贸易谈判取得实质性进展，市场风险偏好有所提升。新华社 5 月 11 日晚报道"中美经贸 高层会谈坦诚、深入、具有建设性，达成重要共识，并取得实质性进展。双方一致同意建立中美经贸磋 商机制。中美双方将尽快敲定相关细节，并将于 5 月 12 日发布会谈达成的联合声明"。周一下午三点， 新华社发布了《中美日内瓦经贸会谈联合声明》，中美两国同时大幅下调之前加征的关税。中美经贸谈 判的效率和互相减免关税的幅度总体超出投资者预期，市场风险偏好有所上升。当然，4 月中旬以来市 场始终在交易贸易冲突的缓和，要看到市场已经计入一定改善预期。不悲不喜，谨慎应对仍是基本原 则。 其次，沪指高开高收，成交放大。周一，两市高开后一路向上反弹，收盘接近全天最高点。两市量 能在 1.3 万亿 ...

美国总统特朗普：会与印度、巴基斯坦做很多贸易。 ...

Core Viewpoint - Yiwu is a major global hub for the export of foreign holiday gift products, accounting for nearly 80% of the global market share, with a significant increase in orders this year compared to last year [1][6]. Group 1: Market Dynamics - Yiwu International Trade City is experiencing a peak season for foreign holiday gift orders, with many foreign buyers actively purchasing products [3]. - The city has a complete production, sales, and packaging supply chain for holiday gift items, offering a wide variety of products including toys, holiday apparel, and decorations [4]. - Despite complex international trade conditions, many vendors in Yiwu report an increase in order volumes, particularly from South America, the Middle East, and Europe [6][12]. Group 2: Vendor Strategies - Vendors are adapting to the changing market by diversifying their client base, with less than 10% of orders coming from U.S. clients, thus mitigating risks associated with reliance on a single market [8]. - Some vendors have shifted from only accepting large orders to a more flexible approach to accommodate varying demand [6]. - Product innovation and the introduction of new designs are key strategies for vendors to enhance competitiveness and attract more foreign buyers [12][14]. Group 3: Emerging Markets - Orders from Central American countries such as Mexico, Chile, and Ecuador have been on the rise, indicating growth in these markets [10]. - The implementation of a 240-hour visa-free transit policy has significantly boosted orders from South America, helping to fill gaps left by the U.S. market [14]. - Yiwu businesses are actively exploring new markets in ASEAN, Central and Eastern Europe, and Latin America through participation in overseas exhibitions and the establishment of cross-border e-commerce platforms [14].

Core Viewpoint - Vietnam expresses a strong interest in purchasing a significant amount of products from the United States, indicating a potential increase in bilateral trade relations [1] Group 1 - The Vietnamese government is actively seeking to enhance its imports from the U.S., which may lead to increased economic collaboration between the two countries [1] - This initiative reflects Vietnam's strategy to diversify its supply sources and strengthen trade ties with major economies [1]

Group 1: Rare Earth Elements - Rare earth elements are highly valued non-renewable mineral resources in China, crucial for various industrial applications, especially in metallurgy and manufacturing [1] - China remains the largest country in terms of rare earth reserves and also leads the world in export volume [1] - Due to decades of continuous exports, China's rare earth reserves are depleting, prompting the government to implement policies to strengthen management and monitoring of rare earth exports [1] Group 2: Antimony Mining - Antimony is a hard metal with a high luster, historically used since ancient Egypt, and recognized for its strong corrosion and oxidation resistance [4] - The unique properties of antimony, such as thermal expansion and hardness adjustment, have led to its widespread application in military and industrial developments, including rockets and alloys [6] - Global consumption of antimony ore is approximately 130,000 tons annually, while current global reserves are just over 1 million tons, indicating a potential depletion risk in the coming years [6] Group 3: China's Antimony Resource Management - China is the country with the largest antimony reserves and export volume, and has begun to restrict antimony ore exports to protect this valuable resource [6][8] - The reduction in exports is not aimed at any specific country but is a necessary measure for resource protection, with significant cuts initiated in 2020 [8] - The U.S. has historically relied on imports for antimony, having ceased domestic mining two decades ago, and is now facing challenges due to China's export restrictions [8]

Core Insights - The inauguration of the Vizhijam Port marks a new chapter in India's maritime trade and aims to boost the development of Kerala [1][2] - The port, built under a public-private partnership model, has faced multiple delays and local protests, raising questions about the realization of India's ambitions [1][2] Group 1: Port Significance - Vizhijam Port is expected to significantly enhance India's position in global shipping, allowing large container ships that require over 20 meters of draft to dock, which previously had to divert to ports in Colombo, Dubai, and Singapore [2] - The port is anticipated to reduce India's reliance on Colombo for container transshipment, saving substantial foreign exchange [1][2] - The port is positioned as a new maritime gateway for South Asia, with expectations to compete with Colombo and Dubai ports [2] Group 2: Economic Impact - The port's operation is expected to stimulate local economic development in Kerala and attract overseas workers back to the region [1] - The first phase of the project, costing 89 billion rupees, is set to be operational by December 3, 2024, with an initial capacity of 1 million standard containers [1] Group 3: Challenges - The "last mile" connectivity remains a critical challenge, as the port's efficiency heavily relies on road transport, which is hindered by congestion and underdeveloped highways [3] - Despite improvements in port regulatory processes, inconsistencies in implementation across different ports may affect the future potential of Vizhijam Port [3]

在第137届广交会上，一位背包上别着21枚广交会纪念徽章的巴西采购商格外引人注目。这几天，他带着商贸团穿梭于展台间，看产品，谈合作。让我们跟 随这位"老广交"的脚步，感受广交会的精彩。 上午九点，安德烈·德索萨带着10多名首次来华的巴西采购商，穿梭于玩具、文具、食品等展区。作为"老广交"，他是采购团广交会的"活地图"。 为了更好地在接下来达成合作，安德烈专门带了笔记本，将看中的产品的种类、价格和联系方式逐一记录。 2010年，安德烈第一次参加广交会，现如今，他已成为"中巴中心商贸团"的代表，帮助500多位巴西采购商参加广交会。每次到了广交会，他都会精心再别 上一枚广交会的纪念徽章。21枚徽章，见证了他21届的广交会之行。 中国对外贸易中心对外联络处高级经理 韩才波：两年多来，我们一共吸引超过500个工商机构组团参会，为广交会带来了超过1万名来自不同国家和地区的 采购商。工商团组不仅有效扩大了广交会的国际"朋友圈"，许多团组代表已成为广交会的长期合作伙伴，助力中国企业走向全球。 巴西采购商 安德烈·德索萨：我希望能成为中巴之间的桥梁，让双方的生活更便利，让中国的供应商向巴西销售更多优质产品。 截至目前，本届广交 ...

巴菲特：美国应该寻求与世界其他国家进行贸易，贸易不应该被当成武器。 ...