每经AI快讯，泰恩康（SZ 301263，收盘价：28.5元）11月21日晚间发布公告称，广东泰恩康医药股份 有限公司（以下简称"公司"）于近日收到公司控股股东、实际控制人孙伟文女士的通知，获悉其所持有 的公司部分股份办理了解除质押的手续，本次解除质押股份数量为672万股。截至本公告日，郑汉杰累 计质押股数为3550万股，占其所持股份比例为40.17%。孙伟文累计质押股数为790万股，占其所持股份 比例为11.93%。 每经头条（nbdtoutiao）——展望"十五五" | 专访黄群慧：既要重视AI赋能千行百业，也要考量其对就业 的替代效应和带来的收入极化 （记者 曾健辉） 2024年1至12月份，泰恩康的营业收入构成为：医药代理占比61.1%，医药制造占比37.28%，医药技术 服务占比1.51%，其他业务占比0.12%。 截至发稿，泰恩康市值为121亿元。 ...

每经头条（nbdtoutiao）——展望"十五五" | 专访黄群慧：既要重视AI赋能千行百业，也要考量其对就业 的替代效应和带来的收入极化 （记者 曾健辉） 每经AI快讯，航天宏图（SH 688066，收盘价：22.89元）11月21日晚间发布公告称，公司第四届第十三 次董事会会议于2025年11月21日在北京市海淀区杏石口路益园文化创意产业基地A区1号楼5层会议室以 现场与通讯表决相结合的方式召开。会议审议了《关于修订公司部分管理制度的议案》等文件。 2024年1至12月份，航天宏图的营业收入构成为：卫星应用占比100.0%。 截至发稿，航天宏图市值为60亿元。 ...

每经AI快讯，引力传媒（SH 603598，收盘价：17.77元）11月21日晚间发布公告称，截止2025年11月20 日，潘欣欣女士通过集中竞价方式减持公司股份139,000股，占公司总股本的0.05%；王晓颖女士通过集 中竞价方式减持公司股份97,400股，占公司总股本的0.04%，潘欣欣女士和王晓颖女士已提前完成减持 计划。本次减持计划实施完毕。 每经头条（nbdtoutiao）——展望"十五五" | 专访黄群慧：既要重视AI赋能千行百业，也要考量其对就业 的替代效应和带来的收入极化 （记者 曾健辉） 2024年1至12月份，引力传媒的营业收入构成为：广告业占比100.0%。 截至发稿，引力传媒市值为48亿元。 ...

Group 1 - The company Zinc Industry Co., Ltd. (SZ 000751) announced the convening of its 17th meeting of the 11th Board of Directors on November 21, 2025, to discuss the proposal for the second extraordinary shareholders' meeting of 2025 [1] - For the first half of 2025, the company's revenue composition was 96.97% from non-ferrous metal smelting and 3.03% from non-ferrous metal trading [1] - As of the report date, the market capitalization of Zinc Industry Co., Ltd. was 6.1 billion yuan [1]

强强联合 借助AI赋能用户体验创新升级 作为亚马逊云科技的重要合作伙伴，汉得信息一直以来与亚马逊云科技保持紧密合作，为企业AI普惠化提供全面的数字化保障。 在亚马逊云科技AI赋能用户体验创新升级的演讲中，亚马逊云科技零售消费品行业拓展总监沈倩介绍道，汉得是一家拥有超过20年企业数字化转型能力 的提供商，可以为企业跨境业务提供全面数字化产品及AI解决方案，和全球范围的实施服务能力。而亚马逊云科技连续14年被Gartner评为"战略云平台 服务魔力象限领导者"，为客户提供极为广泛和深度的云计算服务功能集，旗下产品Amazon Bedrock方便企业进行模型选择，定制和集成，极大简化生成 式AI应用的构建和部署。 双方强强联合，为跨境企业提供端到端的业务支撑，并在多个具体场景上应用AI技术提升企业生产力，增强企业竞争力。 重磅发布 3月21日，主题为"自强不息，智达高远"的2025汉得用户大会在西安圆满落幕，众多参会者亲赴现场，共商企业未来数智化大计。亚马逊云科技作为合作 伙伴受邀出席会议，参与到赋能未来增长的"营销驱动力"的专题演讲当中，与业界同仁一起聚焦"AI赋能"和"场景创新"，展示团队在消费者增长、用户体 ...

Core Viewpoint - The company reported a significant narrowing of revenue decline in Q3 2025, driven by AI empowerment and channel optimization, indicating a strategic shift towards "whole-house star-level customization" to meet consumer demands [2][3]. Financial Performance - For the first three quarters of 2025, the company achieved revenue of 2.55 billion yuan, with a net profit attributable to shareholders of -79 million yuan and a net profit excluding non-recurring items of -91 million yuan, reflecting a year-on-year revenue decline of 6.7% but a narrowing of losses [1]. - In Q3 2025, the company reported revenue of 1 billion yuan, with a net profit attributable to shareholders of 1 million yuan and a net profit excluding non-recurring items of -3 million yuan, showing a year-on-year revenue decline of 2.3% but a return to profitability [1]. Strategic Initiatives - The company is focusing on product upgrades through integrated solutions for doors, walls, and cabinets, which cater to home decoration needs, resulting in a significant reduction in revenue decline to -2.34% in Q3 2025 [2]. - AI-driven operational enhancements are being implemented to improve design efficiency, reduce labor costs, and minimize raw material waste, contributing to an increase in gross margin [2]. Channel Development - The company is deepening its presence in the domestic market through initiatives like the "Study Tour" for recruitment, with a total of 21 direct-operated stores and 1,823 franchise stores as of the first half of 2025, optimizing store structure [2]. Profitability Metrics - The gross margin for Q3 2025 was 32.5%, reflecting a year-on-year decrease of 1.6 percentage points and a quarter-on-quarter decrease of 0.8 percentage points [2]. - The company achieved a net profit margin of 0.1% in Q3 2025, an increase of 0.9 percentage points year-on-year [2]. Investment Outlook - As a leading player in the custom home furnishing industry, the company is expected to see a turning point in profitability due to improved channel quality and an increase in high-ticket orders, with projected net profits of -43 million yuan, 62 million yuan, and 107 million yuan for 2025-2027 [3]. - The target price is set at 17.9 yuan per share, maintaining a "strong buy" rating based on absolute valuation methods [3].

证 券 研 究 报 告 尚品宅配（300616）2025 年三季报点评 强推（维持） Q3 业绩扭亏为盈，期间费用率收窄 目标价：17.9 元 事项： ❖ 公司公布 2025 年三季报。前三季度，公司实现营业收入/归母净利润/扣非归母 净利润 25.5/-0.79/-0.91 亿元，同比-6.7%/亏损收窄/亏损收窄。25Q3，公司实现 营业收入/归母净利润/扣非归母净利润 10.0/0.01/-0.03 亿元，同比-2.3%/扭亏为 盈/亏损收窄。 评论： [ReportFinancialIndex] 主要财务指标 | | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | | 营业总收入(百万) | 3,789 | 3,583 | 3,689 | 3,849 | | 同比增速(%) | -22.7% | -5.4% | 3.0% | 4.4% | | 归母净利润(百万) | -215 | -43 | 62 | 107 | | 同比增速(%) | -432.1% | 79.9% | 243.8% | 72.5% | | 每股盈利(元 ...

自2017年加入阿里国际站以来，东风柳汽的出海历程堪称一部中西部制造业全球化进阶的缩影。目前， 东风柳汽已经借助阿里国际站，构建了出海全链路数字化体系。截至2024年，东风柳汽年出口额突破3 亿元人民币，同比激增47%；产品销往全球50余国，并在18个国家建成东风风行形象店，初步形成具备 复购能力与品牌黏性的海外网络。 如今，面对AI驱动的全球贸易新范式，东风柳汽正迈向品牌出海3.0阶段——借助阿里国际站CoCreate 欧洲线下峰会与Open Day线上品牌大促等核心资源，升级"品牌领航"模式，精准捕捉AI赋能下的增长 红利，持续提升在全球市场的影响力与竞争力。 佰辰重工扎根河南郑州机械产业带40余年，依托阿里巴巴国际站海外渠道，建立海外品牌，在五年内， 外贸销售额从2000万元跃升至2亿元，实现10倍增长。其中，一位非洲客户在国际站搜索"矿山机 械"时，被佰辰店铺中专业的产品展示、真实的工程案例和清晰的品牌介绍所吸引，从最初的三四百万 元采购订单，成长为佰辰在非洲的"超级伙伴"，目前年采购订单超6000万元。 在11月19日举行的阿里国际站中西部国货品牌出海峰会上，一场标志着内陆制造力量加速融入全球价值 ...

Core Insights - The core viewpoint of the article emphasizes the transition of the adult education industry in China from rapid expansion to a focus on quality and profitability, with Shanda Institution exemplifying this trend through its robust financial performance and strategic adjustments [1][2][3]. Financial Performance - In Q3 2025, Shanda Institution reported revenue of 523 million RMB, a year-on-year increase of 6.5%, and a net profit of 125 million RMB, reflecting a 40.5% growth. The net profit margin improved to 24.0%, up by 5.8 percentage points from the previous year [1][2]. - The company has achieved profitability for 18 consecutive quarters, showcasing its resilience and ability to navigate through industry cycles [1][2]. Strategic Focus - Management highlighted a shift in the adult education sector towards high-quality development, prioritizing efficiency, innovation, and long-term value over mere scale expansion [1][3]. - Shanda Institution has implemented systematic restructuring over the past two years, focusing on three core dimensions: efficiency, quality, and value, leading to a decrease in sales expenses by 7.7% and operational expenses by 5.5% in the latest quarter [2][3]. Market Trends - The adult education industry is undergoing a structural transformation, with a growing emphasis on sustainable profitability and operational efficiency rather than just growth speed [1][4]. - The aging population in China is creating a significant market for adult education, with the 45 and older demographic projected to reach 640 million by 2025, representing 45% of the total population [4]. Product Development - Shanda Institution has strategically focused on "silver-haired learning" since 2020, developing a comprehensive learning ecosystem for individuals aged 45 and above, with a course repurchase rate of 60% to 70% for some offerings [4][5]. - The company is exploring the integration of education with cultural tourism, launching high-end study tours designed by academic teams to enhance social and cultural experiences for older learners [5]. Technological Integration - The organization has undergone digital transformation, utilizing AI technology as a core operational capability, enhancing course development, teaching services, and decision-making processes [6][7]. - AI applications have improved operational efficiency, with automated grading coverage exceeding 70%, significantly reducing the workload for teachers [6][7]. Long-term Growth Strategy - Shanda Institution is establishing a growth model characterized by stable profitability, clear demographic value, and intelligent organizational capabilities, forming a sustainable growth triangle [7]. - The company's approach reflects a shift from experience-driven to data-driven management, enhancing collaboration and efficiency within the organization [7].

京东方科技集团股份有限公司 投资者关系活动记录表 编号：2025-029 | 投资者关系活动类别 | √特定对象调研 □分析师会议 | | --- | --- | | | □媒体采访 □业绩说明会 | | | □新闻发布会 □路演活动 | | | □现场参观 | | | □其他 | | 参与单位名称 | 华宝基金：毛文博、马文博 | | | 申银万国证券：袁航 | | 时间 | 2025 年 11 月 20 日 | | 地点 | 电话会议 | | 上市公司接待人员姓名 | 罗文捷 证券事务代表 | | | 于含悦 董事会秘书室工作人员 | | | 吴易霖 董事会秘书室工作人员 讨论的主要内容为回答投资者提问，问答情况如下： | | | 1、公司如何看待 LCD 供需及产品价格趋势？ | | | 答：LCD 方面，TV 产品出货受国补、抢出口刺激需求前 | | 投资者关系活动主要内 | 移，年内淡旺波动明显熨平，全年出货量、出货面积均有望实 | | 容介绍 | 现增长；但受新兴市场需求带动中小尺寸 TV 产品出货量提升 | | | 影响，大尺寸化趋势阶段性放缓。IT 产品受换机需求带动，全 | | | 年出货量 ...