更值得注意的是，部分C类份额的表现远不及A类份额。以长城久鼎混合为例，其A类份额表现尚可，但C类份额（016059）任职年化回报则 为-36.3%。这种差异主要源于成立日期不同、规模不足千万以及持有人减少等多重因素。 长城基金权益投资老将、基金经理廖瀚博管理的产品业绩"冰火两重天"，被推至舆论的风口浪尖。尤其是部分产品业绩亏损幅度皆超20%， 管理规模在一年内急剧下滑，从2022年的近50亿元降至2025年的16.27亿元。这一现象不仅反映了个人投资风格的问题，也折射出公募基金 行业面临的转型挑战。 | 题翻譯管理过的基金一览 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 其金代码 | 基金名称 | 相关链接 | 真舍类型 | 规模(亿元) | 任职时间 | 任职天数 | 任賠回报 | | 019367 | 长城均衡成长混合A | 估值图 富翁吧 指案 | 混合型-揭股 | 0.34 | 2023-12-25~至今 | 1年又148天 | 14.62% | | 019368 | 长城均衡成 最合C | 估值图 嘉余吧 档 ...

Group 1 - The tourism industry in China is undergoing a critical transformation, with listed companies accelerating capital operations to optimize resources and innovate business development [1][3] - Anhui Jiuhua Mountain Tourism Development Co., Ltd. plans to raise up to 500 million yuan for various projects, including the upgrade of the Jiuhua Mountain Scenic Area's transportation and hotel facilities [1] - Yunnan Tourism Co., Ltd. intends to raise up to 191 million yuan for the construction of the Chuzhou Overseas Chinese Town Cultural Tourism Equipment Industrial Park and other infrastructure projects [1][3] Group 2 - Changbai Mountain plans to raise up to 236 million yuan for the investment in the second phase of the Changbai Mountain Volcano Hot Spring Resort and transportation equipment enhancement projects [2] - The fundraising efforts of tourism companies are focused on high-end development and consumer demand, with projects aimed at enhancing product quality and core competitiveness [3] - The implementation of the Jiuhua Mountain Scenic Area's new cable car project is expected to increase visitor capacity and improve service experience, contributing to a 19.6% year-on-year increase in tourist numbers in the first quarter [3]

茅台与中国白酒行业近期因一则政策消息再度陷入震荡。有观察者注意到，茅台股东大会的欢迎晚宴已 悄然从传统宴席改为自助餐，席间取代飞天茅台的不再是招牌白酒，而是企业自行研发的蓝莓果汁。这 一细节变动引发业界猜想：中国白酒市场是否已步入深度调整期？从"3000元神话"到"价格倒挂"：茅台 热度的消退轨迹 曾几何时，53度飞天茅台堪称中国白酒市场的"硬通货"——官方指导价1499元，经销 商拿货价一度低于千元，终端市场价却长期突破3000元大关。这种"越炒越热"的畸形现象，本质是公务 消费、商务宴请与礼品经济共同催生的泡沫。 Z世代消费者对传统酒桌文化的疏离感日益增强，更倾向于低度酒、精酿啤酒等新兴品类。数据显示， 2022年中国白酒消费者中，30岁以下人群占比不足15%，且这一群体对白酒的品牌忠诚度较低。与此同 时，"喝酒的人不买，买酒的人不喝"的畸形生态被打破，过去依靠礼品经济支撑的高价白酒失去了重要 需求来源。从"腐败符号"到"国民饮品"：茅台的转型必答题 茅台酒价的大起大落，折射出行业深层次的 结构性矛盾。当一瓶白酒被异化为权力与利益交换的媒介，其价格早已脱离商品属性。如今政策之手打 破这种扭曲生态，恰恰为行 ...

Restaurant Industry Overview - The total revenue of the national catering industry in April increased by 5.2% year-on-year to 416.7 billion yuan, slightly higher than the retail sales growth of 5.1% [1] - However, revenue from catering enterprises above designated size grew by only 3.7% to 123 billion yuan, indicating greater external pressure on larger businesses [1] - The number of restaurant closures has significantly increased, with 4.09 million closures in 2024, resulting in a closure rate of 61.2%, surpassing 2023 levels [1] - Most restaurant categories, except for Western cuisine (up 6%), bakery and desserts (up 5%), and Korean cuisine (up 1%), experienced a decline in store efficiency [1] Pricing and Profitability - Major restaurant brands, including Xiaocaiyuan, Jiumaojiu, and Haidilao, reported a noticeable decline in average customer spending [1] - In Q1 2025, brands like KFC and Pizza Hut also saw further decreases in customer spending [1] - The trend of lowering customer prices is seen as a necessary step for survival in the restaurant business [2] - Profit margins are declining, with Jiumaojiu's revenue at 6.074 billion yuan (up 1.47%) but net profit down 87.69% to 55.81 million yuan, and Xiaobuhua's revenue at 4.755 billion yuan (down 19.65%) with a net loss of 401 million yuan, a 100.88% increase in losses [3] Industry Transformation - The restaurant market is at a critical transformation stage, with companies focusing on cost reduction across the entire supply chain, including store renovations and labor costs [1][4]

近日，湖北省十堰市委政法委员会官方公众号"十堰长安"发布了"北方大陆正昇康"平台涉嫌犯罪的通 告，通告指出，犯罪嫌疑人王某莲以"北方大陆正昇康"商城平台推销为名，以高息返利为诱饵，通过拉 人头返利等模式在十堰地区发展会员。 《中国经营报》记者注意到，这并不是北方大陆正昇康第一次被通报，2024年，广平县市场监督管理局 就曾发布关于北方大陆正晟康经营模式的风险提醒函。 上述风险提醒函中提到，北方大陆正昇康的运营公司为正昇康（吉林）电子商务有限公司，而在2023 年，该公司还因传销，被衡阳县市场监督管理局处罚。 多次涉传被罚 十堰市委政法委员会披露的信息，并没有详细介绍北方大陆正昇康的具体情况，而在2024年广平县市场 监督管理局的风险提示函中，则详细披露了北方大陆正昇康的经营模式。 上述风险提示函提到，消费者通过推荐人的推荐码在正昇康H5平台投资3000元，可获得两袋5斤大米， 并且可获得其他多项奖励。 首先是优惠奖（3%），由消费者自己享受，3000元一单优惠奖是90元；其次是消费提成（30%），预 存消费越多，会员级别和批发提成越高；再次是分红奖（20%），公司拿出利润的20%通过促销红包的 方式给到消费者 ...

证券代码：836419 证券简称：万德股份 公告编号：2025-046 西安万德能源化学股份有限公司 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。 □分析师会议 □路演活动 □其他 二、 投资者关系活动情况 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 活动时间：2025 年 5 月 16 日（周五）下午 15:00~17:00 活动地点：公司通过全景网"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 年年度业绩说明会的投资者。 上市公司接待人员：1、董事长：王育斌先生 2、董事、总经理：汪希领先 生 3、财务总监：薛玫女士 4、董事、董事会秘书：杨青女士 5、保荐代表人： 汪兵先生。 三、 投资者关系活动主要内容 公司就投资者在本次说明会中提出的问题进行了回复： 1、请问贵公司如何看待行业未来的发展前景？ 回答：尊敬的投资者，您好！公 ...

（原标题：托育机构一边建一边倒 急于寻求第二曲线自救） "亏损太多，预计今年8月关闭最后一家托育机构。"小企鹅成长馆负责人Vivi对记者说。 2013年，Vivi从中国台湾引入托育理念，在江西省九江市开办了第一家托育机构。彼时，当地的托育市 场尚处萌芽阶段，Vivi积极开拓市场，最多时其开办的托育机构达到12家，且全部满员运转，家长甚至 需提前一年预订位置。 然而，自疫情以来，Vivi的托育机构从12家锐减至1家，累计亏损超800万元，如今仅剩的一家也在考虑 闭店。 小企鹅成长馆的困境只是整个托育行业艰难处境的一个缩影。"十四五"规划提出，到2025年，全国每千 人口拥有3岁以下婴幼儿托位数应提高到4.5个。截至2025年3月，全国托位数突破600万个，平均每千人 拥有4.2个托位，距离目标仅一步之遥。 但供给大幅增加的背后，行业正经历冰火两重天：一边是托位规模快速扩张；另一边是由于成本高和政 策落实不到位等问题，超七成机构陷入亏损，2023年中国的托位实际使用率仅为46.7%，呈现"建设与 闭店并存"的现象。 在此背景下，不同类型的托育机构都在艰难求生。单一托育业务难以盈利，机构纷纷寻求第二曲线以自 救与发 ...

Core Viewpoint - The coal industry is facing unprecedented challenges and opportunities in the era of energy revolution, with companies like Huayang Group actively pursuing reforms and innovations to enhance production efficiency and contribute to national energy security and sustainable development [1] Group 1: Technological Empowerment - Huayang Group is implementing smart mining solutions, utilizing 5G technology for real-time monitoring and communication, which significantly improves operational efficiency and safety [2][3] - The introduction of automated cleaning devices and 5G explosion-proof phones has reduced the workload of underground workers, allowing them to focus more on production tasks [2] - The completion of smart mining construction across all production mines positions Huayang Group as the first in Shanxi Province to achieve this milestone [2] Group 2: High Production Efficiency - Huayang Group's mining team achieved a monthly production of 388,000 tons and an annual production of 3.78 million tons, setting new records for the group [4] - The team's success is attributed to effective collaboration, clear responsibilities, and a focus on equipment maintenance to ensure zero operational failures [4][5] - Continuous training and knowledge enhancement among team members contribute to improved operational capabilities and efficient problem-solving [5] Group 3: Institutional Innovation - Huayang Group has introduced practical institutional reforms that enhance workers' quality of life and work efficiency, such as streamlining meeting schedules and optimizing transportation [6][7] - The cancellation of traditional night shifts and the adjustment of work schedules have led to increased productivity without compromising employee wages or safety [6][7] - These reforms have fostered a positive work environment, motivating employees and driving the company towards efficient production [7]

关于 2024 年度业绩说明会召开情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、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责任。 证券代码：603086 证券简称：先达股份 公告编号：2025-033 山东先达农化股份有限公司 山东先达农化股份有限公司（以下简称"公司"）于 2025 年 5 月 16 日（星期五） 以网络文字互动方式召开公司 2024 年度业绩说明会。关于本次业绩说明会的召开事项， 公司已于 2025 年 5 月 9 日在《中国证券报》《上海证券报》《证券时报》《证券日报》 及上海证券交易所网站上披露了《关于召开 2024 年度业绩说明会的公告》（公告编号： 一、本次说明会召开情况 门亮先生、董事会秘书兼财务总监江广同先生出席了本次说明会，并对投资者提出的问 题进行了回答。 二、投资者提出的主要问题及公司回复情况 公司就投资者在本次业绩说明会提出的普遍关心的问题给予了回答，主要问答情况 如下： 问题1：请问领导，对于海外市场会是公司创制药销售的一个重要方向吗？ 问题3：请问公司领导，中国水稻田有4亿多亩，适合使用吡唑喹草酯的水稻田面积 大 ...

Core Viewpoint - The prolonged IPO attempts of Green Tea Restaurant reflect not only the survival anxiety of a single enterprise but also the collective transformation pain of the entire Chinese dining industry after the decline of traffic dividends [1][3][10]. Company Overview - Green Tea Restaurant has made four unsuccessful attempts to go public since March 2021, indicating a unique persistence in the Hong Kong dining sector [3]. - The restaurant was once a popular brand among young consumers, achieving a peak daily table turnover rate of 6-8 times per store, but has since seen a significant decline in customer traffic and profitability [1][3]. Financial Performance - The table turnover rate dropped from 3.48 times in March 2018 to 2.81 times in 2022, with a slight recovery to 3.30 times in 2023, before falling again to 3.00 times in 2024 [4][5]. - The average customer spending decreased from 62.9 RMB in 2022 to 56.2 RMB in 2024, indicating challenges in maintaining profitability amid rising costs [5][6]. Market Position and Competition - Compared to competitors like Haidilao and Jiumaojiu, Green Tea's brand positioning appears vague, lacking a distinct competitive edge [3]. - The restaurant's reliance on a single business model has made it difficult to sustain high growth expectations, prompting the need for diversification into areas like retail and delivery [6][10]. IPO and Shareholder Dynamics - Approximately 30% of the shares offered in the IPO were from existing shareholders, indicating a lack of confidence in the company's future prospects [7][9]. - The same-store sales declined by 10.3% in 2024, suggesting that growth is primarily driven by new store openings rather than improving existing store efficiency [9]. Industry Context - The dining industry has faced significant challenges, including the pandemic, consumer downgrade, and the rise of prepared food, leading to a reevaluation of investment strategies [3][10]. - The shift in investor focus from scale to metrics like single-store profitability and supply chain management reflects a broader trend in the capital market [9][10].