重点要闻 药明康德预计2025年经调整归母净利润增41.33% 药明康德(603259.SH)发布2025年度业绩预告，预计预计2025年度实现营业收入约人民币454.56亿元，同 比增长约15.84%，其中持续经营业务收入同比增长约21.40%；期实现经调整非《国际财务报告准则》 下归属于本公司股东的净利润约人民币149.57亿元，同比增长约41.33%；归属于本公司股东的扣除非经 常性损益的净利润约人民币132.41亿元，同比增长约32.56%，与经调整归母净利润增速相比主要受到汇 率波动的影响；实现归属于本公司股东的净利润约人民币191.51亿元，同比增长约102.65%，其中包含 了出售联营公司部分股权以及剥离部分业务所获得的投资收益；本期基本每股收益预计约人民币6.7元/ 股，同比增长约104.27%。 业绩变动主要由于公司出售持有的WuXiXDCCaymanInc.部分股权的净收益，预计约人民币41.61亿元； 以及出售所持有的上海康德弘翼医学临床研究有限公司和上海药明津石医药科技有限公司100%股权的 净收益，预计约人民币14.34亿元。 上港集团2025年净利同比降10.4% 上港集团(600 ...

报告数据显示，受人工智能技术应用和服务自动化推进的影响，文书及行政类岗位空缺数量同比下降 16%，经纪类岗位空缺数量同比下降20%，此类岗位的人员需求出现缩减。 来源：环球市场播报 招聘公司Morgan McKinley周一表示，2025年，市场对人工智能、监管合规、数据报告及其他专业技能 人才的需求，推动英国金融行业职位空缺数量上升12%，各企业正着力在科技军备竞赛中保持竞争力。 摩根麦金利发布的《伦敦就业监测报告》（该报告为金融服务业职位空缺季度调查报告）显示，尽管受 全球市场波动以及政府11月财政预算不确定性的影响，招聘经理普遍持谨慎态度，导致2025年第四季度 招聘增速有所放缓，但该行业职位空缺数量仍实现同比增长。 摩根麦金利董事Mark Astbury指出，目前软件与计算机服务类岗位空缺占比已超16%，超过了投资管理 和银行业等传统岗位——这两类岗位去年的空缺占比均为15%。 Astbury表示，鉴于当前失业率维持在5%的相对低位，通胀率稳定在3.2%，金融行业的强劲招聘势头有 望延续至今年第一季度。 美股频道更多独家策划、专家专栏，免费查阅>> 责任编辑：钟离 ...

Crypto payments firm Ripple was granted permission from the UK’s Financial Conduct Authority (FCA) to scale its payments platform in the country, the firm announced on Friday.  The FCA approved the firm’s Cryptoasset Registration and Electronic Money Institution (EMI) license, enabling companies in the UK to use its services for cross-border payments with digital assets.  “Extending Ripple’s licensing portfolio and payments solution is about more than just efficiency; it is about unlocking trillions in dor ...

On an a s F A x - 10. the M JC BECHL S FALL PRODUCTION THE 4 4 1 1 1 the s 电影院 6.8 . and of the Castle A 14 4 SAFE e 2024第六届郑州 ELCOME ST I n a such a dealer # 11 p the HEAT URCED th T Top ci 21 1015 the e Ti 210 p B r and Children te the Collection the state 11 2017 CHECKED Charge Prod 11 盘上盘图 t **摘要** 在全球金融市场相互依存日益加深的背景下，提供安全、高效、合规的跨国金融服务成为行业关键。OEXN作为国际服务提供商，凭借其广泛的全球网络覆 盖和严谨的监管合规体系，致力于为不同地域的用户提供可信赖、专业化的服务体验。本文将探讨OEXN如何通过构建强大的跨国服务体系与坚守严格的监 管合规底线，在全球市场中赢得信赖并保障用户的参与体验，推动行业良性发展。 **正文** **一、 构建无缝链接的全球服务体系** 在全球 ...

Core Insights - Blockchain wallets are evolving from simple asset storage tools to multifunctional hubs within the Web3 ecosystem, driven by technological advancements and user experience improvements. Group 1: Technological Innovations - Account abstraction technology will become mainstream, significantly lowering user entry barriers, with over 60% of mainstream wallets supporting "keyless access" by 2025 [3] - Multi-chain compatibility will be a basic feature, enabling seamless cross-chain experiences, with 82% of users needing to manage assets across three or more public chains [4] - Privacy protection technologies will be widely adopted, with "certificate-free stealth addresses" becoming standard, enhancing transaction anonymity and security [5] Group 2: Market Dynamics - Emerging markets will serve as growth engines, with regions like Southeast Asia and Africa seeing wallet user growth rates of 180%, contributing to 65% of global wallet activity by 2025 [6] - Regulatory compliance will balance with decentralization, leading to the rise of compliant wallets that integrate KYC/AML modules while allowing users to retain control over their private keys [7] Group 3: User Experience Enhancements - Generation Z will drive interaction design, with 48% of users desiring social features in wallets, integrating social plugins for direct asset transfers and community participation [8] - Real-world asset (RWA) tokenization will create new demands, allowing users to manage tokenized real estate and participate in fractional ownership investments [9] Group 4: Integration of AI and Hardware - AI will be integrated into wallets as "smart assistants," enhancing decision-making and user retention rates by 35% [10] - Hardware wallets will become more portable, with trends towards Bluetooth-enabled devices and integration into wearable technology [11] Group 5: Ecosystem Development - Wallets will transition to platform ecosystems, integrating DApp stores, NFT markets, and on-chain gaming, creating a closed-loop experience for users [12]

这家总部位于加利福尼亚州库比蒂诺的公司表示，更严格的监管可能会使其更难保护用户的安全和隐 私。与此同时，这些规定也威胁要颠覆苹果每年创造数十亿美元收入的 App Store 商业模式。 在日本，这些变化旨在让开发者能够选择如何处理数字商品和服务的支付。它们还将为开发者提供更多 通过替代应用市场分发应用的控制权。此外，这些更新将使用户更容易选择自己喜欢的浏览器和搜索引 擎。 不过，苹果警告称，其中一些变化可能会给日本的 iOS 用户带来新的风险，可能会使他们面临恶意软 件、欺诈和诈骗的威胁。 苹果公司(AAPL.US)正在调整其在日本的 iOS 软件，以遵守一项旨在促进竞争的新当地法律;这是这家 iPhone制造商为适应全球监管而采取的更广泛举措的一部分。 该公司周三公布了一项合规计划，以回应日本去年通过并于本周生效的《移动软件竞争法》(MSCA)。 相关调整涉及操作系统的支付选项、替代应用市场和浏览器选择。苹果表示，其与日本监管机构密切合 作完成了这些更新，这些更新现已作为 iOS 26.2 的一部分在日本推出。 苹果在欧盟也面临类似的监管审查。该地区的《数字市场法》(DMA)旨在为在线平台创造公平的竞争环 ...

智通财经APP获悉，苹果公司(AAPL.US)正在调整其在日本的 iOS 软件，以遵守一项旨在促进竞争的新 当地法律;这是这家iPhone制造商为适应全球监管而采取的更广泛举措的一部分。 为帮助降低潜在风险，苹果依靠"公证"系统——结合自动化检查和人工审核——来评估所有 iOS 应用的 基本功能和安全威胁。但该公司表示，这不如 App Store 的审核全面，其他应用市场可以自行决定制定 额外的审核政策。 日本开发者现在将有三种处理支付的方式：继续依赖苹果的应用内购买;在其应用内使用替代的支付服 务提供商;或者将客户引导至网站完成交易。 该公司还引入了新的业务条款，根据开发者选择的应用分发方式和支付处理方式，收取不同的佣金率和 费用。苹果表示，其中一些变化可能会使儿童面临更多风险，但其已与监管机构合作制定了相关保障措 施，包括限制 13 岁以下用户访问外部网站的链接。 苹果公司的一位发言人表示，公司暂无计划将这些变更推广到其他国家，因为现有系统能为用户提供更 高级别的安全保障，也为开发者带来更好机会。该发言人还称，日本的做法优于欧盟——《数字市场法 案》迫使苹果做出的调整带来了更混乱的体验并引入更大风险。例如 ...

Investment Rating - The report does not explicitly provide an investment rating for the banking industry Core Insights - The banking industry is facing increasing uncertainty, necessitating a comprehensive restructuring of risk management processes, with Chief Risk Officers (CROs) playing a crucial role in this transformation [10][11][13] - Effective risk management execution can provide banks with a competitive advantage, enabling them to respond swiftly to market fluctuations and drive continuous improvement across the organization [11] - The report emphasizes the need for banks to adapt to emerging risks, including geopolitical complexities, economic volatility, and the impact of digital transformation on risk management [21][23][24][26] Summary by Sections Introduction - The report highlights the necessity for banks to adjust their risk management cycles to address increasing uncertainties, focusing on risk identification, assessment, monitoring, control, and reporting [10] Drivers of Risk Management Transformation - Key factors driving the transformation of risk management functions include geopolitical challenges, economic fluctuations, and the need for enhanced operational resilience [21][23] - Banks are increasingly recognizing the importance of understanding and adapting to emerging risks, such as supply chain disruptions and cybersecurity threats [23][24] Reshaping Risk Management Functions - The transformation of risk management functions is led by CROs, requiring collaboration among all stakeholders to embrace the evolving role of risk management [36][37] - Banks must modernize their operations and risk management approaches to remain competitive, addressing outdated systems and manual processes [39][40] Future Risk Management Blueprint - The report outlines the importance of integrating data-driven risk management practices, emphasizing the need for improved data quality and infrastructure to support effective risk monitoring and reporting [79][81] - The adoption of artificial intelligence and machine learning is identified as a key technology for enhancing risk management capabilities, although regulatory challenges remain [64][81] Conclusion - The report concludes that banks must proactively adapt their risk management strategies to navigate the complexities of the current environment, aligning risk management with business objectives to drive performance transformation [101]

Core Viewpoint - Reverse Takeover (RTO) is an important pathway for domestic companies to list in Hong Kong, allowing non-listed companies to acquire control of listed shell companies and inject core assets to achieve indirect listing, offering a more flexible process compared to Initial Public Offerings (IPOs) [2] Group 1: Transaction Structure Design - The transaction process for RTO includes six key stages: preparation, due diligence, structure design, negotiation and signing, approval and delivery, and asset injection, all of which must comply with the regulations of the Hong Kong Stock Exchange and mainland authorities [3] - The preparation phase involves identifying targets and selecting shell companies [4] - Due diligence serves as a "firewall" covering legal, financial, and business aspects to identify risks and establish valuation [5] Group 2: Key Considerations in Transaction Structure - The quality of the shell company is crucial, with selection criteria including market capitalization (ideally between 1-5 billion HKD), concentrated shareholding, clean financial status, compliance record, and business attributes [5] - Legal due diligence checks ownership rights, company bylaws, pending litigation, and regulatory compliance [5] - Financial due diligence focuses on verifying the balance sheet, income statement, and cash flow statement for hidden debts or inflated revenues [5] - Business due diligence assesses the market competitiveness and feasibility of divesting the original business [5] Group 3: Negotiation and Approval - Negotiation involves determining transaction terms, risk sharing, and ensuring legal compliance [6][10] - Approval processes include obtaining necessary regulatory approvals from the Hong Kong Stock Exchange and the China Securities Regulatory Commission, especially if the asset injection significantly alters the shell company's business [10][11] Group 4: Asset Injection and Compliance - Asset injection is a critical step where the issuer's core assets are integrated into the shell company, transforming its main business [7] - Compliance with the Hong Kong Stock Exchange's new listing requirements is essential, including profitability and operational sustainability [10][11] - Tax planning is important to leverage Hong Kong's tax benefits and avoid double taxation [10][12] Group 5: Common Pitfalls and Strategies - Common pitfalls include hidden debts in the shell company, control disputes, non-compliance with new listing standards, and regulatory approval failures [10][12] - Strategies to mitigate these risks involve thorough due diligence, maintaining sufficient shareholding post-acquisition, and ensuring compliance with regulatory requirements [10][12]

Core Insights - Recent leadership changes in consumer finance institutions indicate a strategic response to regulatory compliance and business model restructuring in light of the new "assistance lending regulations" [1][4][6] Leadership Changes - Multiple consumer finance institutions, including Haier, JD, and Jianxin, have recently appointed new executives, with many of them having extensive banking experience [2][3] - Zhou Wenlong has been appointed as the General Manager of Haier Consumer Finance, bringing years of experience in banking and consumer finance [2] - Jianxin Consumer Finance has appointed Gong Yongyuan as its second President, while Jinshan Consumer Finance has seen Zhao Chongping become its third President [3] Regulatory Compliance and Business Model Restructuring - The leadership changes are partly driven by the need to enhance compliance and adapt to new regulatory requirements, as the industry faces increased scrutiny [4][5] - Analysts suggest that the new executives are expected to focus on risk control, technology integration, and sustainable growth strategies [5][6] - The implementation of the "assistance lending regulations" on October 1 has intensified the need for consumer finance companies to develop resilient business models and improve their risk management capabilities [6] Industry Trends - The consumer finance sector is shifting from a growth-driven model to a more refined and specialized operational approach, with new leaders possessing backgrounds in risk control and technology [5][6] - There is a growing divide in the industry, with leading firms continuing to thrive while smaller institutions face significant challenges, leading to frequent leadership changes as a survival strategy [5]