21世纪经济报道记者张欣 实习生薛霁 北京报道 8月29日，工商银行在线上召开2025年半年度业绩会。一向以 "金句频出" 著称的工行行长刘珺，在回应 经营亮点与全年业绩展望时，以形象比喻与战略锐见勾勒出超级银行的稳健发展路径。本报记者梳理其 十大核心表述，既有对股东回报的承诺，也有对增长哲学的深刻阐释，更不乏对国际化战略的前瞻布 局。 以下为十大核心观点： 1. 股东价值承诺 "成为工商银行的股东应该是一件比较幸福的事。" 2. 增长哲学宣言 "作为一家超级规模的银行，我们跟市场永远是同频共振，并且准确、精确地反映中国国民经济的增长 状况。" 4. 金融稳定担当 "工商银行发挥的就是主力军银行的作用，就是主力军、压舱石、稳定器。如果稳定器的速度是超常速 度，那么稳定器的作用可能也不会发挥得特别好。" 5. 经营逻辑锐评 "作为一家领军银行，我们一定是和国民经济同向在前进……这么大的一家银行要掉头，那说明方向性 选择上出现了问题。我们始终是在前进的方向中不断优调战略，不断调校方向，使这艘大船走得更稳， 我们不追求超过常规的超常增长率。" 6. 收入结构比喻 "利息净收入是营收'大头'，作为间接融资为主的大型商 ...

21世纪经济报道记者张欣实习生薛霁北京报道 8月29日，工商银行在线上召开2025年半年度业绩会。一向以 "金句频出" 著称的工行行长刘珺，在回应 经营亮点与全年业绩展望时，以形象比喻与战略锐见勾勒出超级银行的稳健发展路径。本报记者梳理其 十大核心表述，既有对股东回报的承诺，也有对增长哲学的深刻阐释，更不乏对国际化战略的前瞻布 局。 以下为十大金句： 1. 股东价值承诺 "成为工商银行的股东应该是一件比较幸福的事。" 2. 增长哲学宣言 "匀速或许是最快的，平衡或许是最好的。我们一直秉承这个理念，来推动工商银行的转型和进一步的 高质量发展。" 3. 市场同频定位 "作为一家超级规模的银行，我们跟市场永远是同频共振，并且准确、精确地反映中国国民经济的增长 状况。" 4. 金融稳定担当 7.投资价值锚点 "按照8月28日的股价计算，（工行）A/H股股息率也都在4.2%和5.8%左右，应该是高于长期限资金的负 债成本，并且与一些理财产品相比也毫不逊色，仍然是一个不错的投资标的。" 8. 境内境外业务定位 "境内分行是我们的大本营，是我们的主根据地，为集团发展提供了稳定的动能输出；国际化和综合化 则相当于我们的新根据 ...

Stran & Company, Inc. (NASDAQ:SWAG) Q2 2025 Earnings Conference August 13, 2025 10:00 AM ET Company Participants Andrew Shape - Co-Founder, President, CEO & Director David Browner - Chief Financial Officer Conference Call Participants Alexandra Schilt - Unidentified Company Operator [indiscernible] Please note, this conference is being recorded. I will now turn the conference over to your host, Alexandra Schilt of Crescendo Communications. Alexandra, the floor is yours. Alexandra Schilt Good morning, and th ...

Core Insights - The corporate treasury strategy for Bitcoin is gaining momentum, with companies accumulating Bitcoin surpassing ETF purchases for the third consecutive quarter [1][4] - In Q2 2025, public companies purchased approximately 131,000 Bitcoins, an 18% increase from the previous quarter, while ETF purchases totaled 111,000 Bitcoins, with an 8% increase [1][4] Group 1: Corporate Strategy - Companies are purchasing Bitcoin primarily to enhance shareholder value, differing from institutional investors who acquire Bitcoin through ETFs [4] - This purchasing behavior is driven by distinct business logic rather than macro trends or market sentiment, providing a new impetus for Bitcoin prices [4] Group 2: Market Dynamics - Recent entrants into the Bitcoin holding space include GameStop, KindlyMD, and ProCap, while MicroStrategy remains the leader with 597,000 Bitcoins held [7] - Despite the surge in corporate participation, ETFs still hold the largest share of Bitcoin, controlling over 1.4 million Bitcoins, approximately 6.8% of the fixed supply cap, compared to public companies holding about 855,000 Bitcoins, or 4% [7] Group 3: Future Outlook - The current pace of corporate Bitcoin adoption may not be sustainable and could represent a temporary opportunity for companies seeking to profit from this trend [7]

Core Viewpoint - FedEx's stock experienced a 6% decline in after-market trading following its Q4 FY2025 earnings report, despite surpassing consensus estimates, due to a cautious outlook for the upcoming quarter [2][6] Financial Performance - FedEx reported Q4 revenue of $22.2 billion, matching the prior-year quarter and exceeding the consensus estimate of $21.8 billion [3] - The package segment saw a 5% increase in volume, while composite package yield decreased slightly by 0.4% [3] - Freight volume declined significantly by 15%, although composite freight yield rose by 3% [3] - The adjusted operating margin improved by 600 basis points to 9.1%, with adjusted earnings per share increasing to $6.07 from $5.41 in the previous year, surpassing the consensus estimate of $5.86 [5] Guidance and Outlook - FedEx's guidance for Q1 FY2026 indicates revenue growth of flat to 2% year-over-year, slightly better than street estimates of a 0.1% decline [6] - The company forecasts adjusted earnings per share between $3.40 and $4.00, below the consensus estimate of $4.06 [6] - FedEx plans an additional $1 billion in cost-cutting measures for FY2026, building on $4 billion in savings already achieved [6] Valuation Analysis - FedEx's stock is currently trading around $215, with a trailing adjusted P/E ratio of 12x, lower than its five-year average of 16x, suggesting potential for growth [7] - The separation of the freight business is expected to unlock shareholder value and enhance focus on core parcel delivery operations [8] - The stock appears slightly undervalued, presenting a potential opportunity for long-term gains [8]