Fleet and Operations - The company has a modern jackup fleet with an average age of approximately 6 years[7] - The fleet utilization is at 100%[7] - The company's Q2 2023 Adjusted EBITDA margin was 45%[7] - The company's contract backlog is $1.83 billion[7] - The company's Q2 2023 technical uptime was 98.7%[37] Market Dynamics - Modern jackup rig utilization is back at 2014 levels, reaching 93.7%[13] - Over 30% of the global jackup fleet is over 30 years old, with over 150 jackups retired since 2015, averaging 38 years of age at retirement[18] - The orderbook for new jackup rigs is at a record low, representing approximately 3% of the total fleet[22] Financial Outlook - The company has 75% contract coverage for 2024 at an average dayrate of $129k/day[29] - The company has 53% contract coverage for 2025 at an average dayrate of $130k/day[29] - The company has 18% contract coverage for 2026-2028 at an average dayrate of $125k/day[29]

转自：新华财经 新华财经上海7月1日电（记者 魏雨田）6月30日，if 椰子水母公司 IFBH 正式在港交所挂牌上市，首日股价即飙升42.09%，市值突破105亿港元。其背后资本 阵容颇为亮眼，包括瑞银、南方基金等11家基石机构合计注资3.1亿港元。 数据显示，中国椰子水市场年复合增速为19.4%，2029年规模有望达到26.6亿美元，包括欢乐家、泰国IMCOCO、佳果源等中外品牌正在加速布局。 6月30日，if 椰子水的母公司 IFBH Limited（股票简称：IFBH）成功登陆港股市场。新华财经数据显示，IFBH 上市首日表现亮眼，股价飙升42.09%，市值 攀升至105.33亿港元。 值得关注的是，股东名单中出现道合承光私募身影。公告显示，该私募获配84.68万股，价值2354万港元，而持有该私募30%以上股权的正是农夫山泉董事 长钟睒睒。 IFBH 的基石投资者阵容也颇为亮眼，包括瑞银集团、南方基金、广发国际、工银理财、对冲基金 Jain Global 等11家机构，合计投资金额约3.1亿港元。 此外，易方达基金旗下易方达全球医药行业（QDII）也参与港股打新，根据6月28日公告，该基金中签12.5 ...

中新网福建新闻7月1日电 6月22日，在中国人民银行和香港金融管理局共同推动下，跨境支付通正式上 线，标志着内地与香港快速支付系统已实现互联互通，为两地居民提供实时跨境支付服务。 跨境支付通上线以来，得到闽港居民热烈欢迎。福州林女士因工作原因长期内地香港两地出差，平时在 香港的日常开销费用通过电汇方式汇往香港账户，一般半日或隔日到账。得知跨境支付通上线后，6月 22日她通过中国银行APP向香港中行本人账户汇款300元人民币，发现仅需录入收款账号、名称及附言 即可汇出，实时到账且无需换汇。"这对于工作两地跑的小额汇款需求太友好了，既方便又快捷！"林女 士连连称赞。 下一步，人民银行福建省分行将持续指导试点银行认真做好对客户的业务宣贯，不断优化相关业务流程 和功能，积极拓展跨境支付通在留学缴费、医疗缴费、薪酬及津补贴发放等汇集闽港民生融合的业务场 景，满足两地居民安全、高效、便捷的跨境汇款需求。(完) 据悉，与传统跨境汇款相比，跨境支付通缩短了汇款链路，可实现资金"秒到账"，同时无需填写收款地 址、银行代码等，两地居民只需通过工商银行、农业银行、中国银行、建设银行、交通银行及招商银行 等六家试点银行的手机银行"跨 ...

转自：新华财经 6月30日，云南电网电费收款"省级集中"业务正式上线运行，中国工商银行云南省分行作为其核心合作 金融机构之一，依托其领先的数字金融能力，为云南电网量身打造了安全高效的开放银行金融服务方 案，成功助力"一省一行一户"直收模式落地，开启了云南省电费收缴的"直通车"时代。 模式创新：直收直达，工行开放银行筑基 针对长期以来电费收缴环节多、链条长、风险高等痛点，云南电网公司创新推出"一省一行一户"省级直 收模式。在指定合作银行之一工商银行设立省级电费收入专用账户，全省用电客户的电费资金将直接汇 入该省级账户，彻底改变了以往需经市、县多级账户层层归集的传统路径，实现省级资金的"一步直 达"。工商银行凭借其稳定可靠的账户管理体系和开放银行能力，为这一省级资金"大动脉"的畅通提供 了坚实的数字金融中台的支撑。 效能提升：数智赋能，效率安全大幅提质 在工商银行数字金融赋能下，省级直收新模式带来了全方位的效能提升。 编辑：赵鼎 资金流转极速化：依托工商银行先进的开放银行资金清算体系，电费资金在途时间预计可缩短80%以 上，流转效率实现飞跃，为电网安全运行和建设投资提供更及时充沛的现金流保障。 风险管控智能化：实 ...

Core Insights - Cango Inc. reported a decrease in Bitcoin production in June 2025, producing 450 Bitcoins compared to 484.5 in May 2025, reflecting a decline of approximately 7.2% [2] - The total number of Bitcoins held by the company increased to 3,879.2 from 3,429.3, indicating a growth of about 13.1% [2] - Cango completed the acquisition of crypto mining machines with an aggregate hashrate of 18 Exahash per second, raising its total hashrate to 50 EH/s [2] Production Metrics - The average number of Bitcoins produced per day decreased to 15.00 in June from 15.63 in May [2] - The deployed hashrate remained stable at 32 EH/s, while the average operating hashrate slightly increased to 29.92 EH/s from 29.86 EH/s [2] Company Overview - Cango Inc. is primarily focused on Bitcoin mining, with operations across North America, the Middle East, South America, and East Africa [3] - The company entered the crypto asset space in November 2024, motivated by advancements in blockchain technology and the growing adoption of digital assets [3] - In addition to its crypto mining operations, Cango also runs an online international used car export business through AutoCango.com [3]

wo[Table_Title] Research Report 1 Jul 2025 电子 Technology 2025 中国 AI 算力大会：系统级集成崛起，AI 基础设施进入软硬协同新阶段 System-level Integration Takes Center Stage as AI Infrastructure Enters a New Era of Co-Design 姚书桥 Barney Yao 吴叡霖 Louis Ng barney.sq.yao@htisec.com louis.yl.ng@htisec.com [Table_yemei1] Flash Analysis [Table_summary] (Please see APPENDIX 1 for English summary) 事件： 2025 年 6 月 26 日，北京举办的"2025 中国 AI 算力大会"成为国产 AI 基础设施转型升级的重要节点。会议不仅呈现了 国产算力的最新突破，也释放出明确信号：AI 算力正迈入"系统级融合"的新时代，万卡集群部署与软硬一体化架构 成为主流技术演进方向。 点评： 国产 AI 集群时代全 ...

Company Performance - Seagate has achieved a 65% return year-to-date in 2025, significantly outperforming the S&P 500's 5% increase, driven by structural improvements and a shift towards next-gen technologies like HAMR [3] - The company forecasts Q4 adjusted EPS to be between $2.20 and $2.60, with revenue expected between $2.25 billion and $2.55 billion [7] Market Context - Seagate's stock has historically shown significant volatility, with a peak-to-trough decline of 58% during the 2022 inflation crisis and a 35.6% drop during the COVID-19 pandemic [10][11] - The stock currently trades at 18x consensus 2025 earnings, well above its three-year average of 5x, indicating elevated investor confidence but also a potential for steep declines [11] Technological Advancements - Seagate's Mozaic 3+ platform achieves 3 TB per platter through HAMR technology, with plans for 40 TB drives in 2026 and 100 TB drives by 2030, positioning the company for long-term growth [6] - The demand for high-capacity HDDs is bolstered by the increasing need for data storage in generative AI and cloud infrastructure, where HDDs remain dominant for cold storage applications [5] Competitive Landscape - Seagate's price-to-sales ratio has risen to 3x, compared to Western Digital's typical 1x during market downturns, reflecting a premium valuation amid economic uncertainties [11] - Despite strong growth expectations, the stock's performance is susceptible to macroeconomic shocks and operational setbacks, with little margin for error [8]

Group 1 - Moretus Research provides high-quality equity research focused on U.S. public markets, aiming to deliver clarity, conviction, and alpha for serious investors [1] - The research framework identifies companies with durable business models, mispriced cash flow potential, and intelligent capital allocation, emphasizing a structured and repeatable approach [1] - Valuation methods are based on sector-relevant multiples tailored to each company's business model and capital structure, prioritizing comparability, simplicity, and relevance [1] Group 2 - Research coverage focuses on underappreciated companies experiencing structural changes or temporary dislocations, where disciplined analysis can yield asymmetric returns [1] - Moretus Research aims to elevate the standard for independent investment research by providing professional-grade insights and actionable valuation [1]

本文来自微信公众号：旧闻评论，作者：照相的宋师傅，题图来自：AI生成 三级片制作人、美食达人及文旅作家蔡澜6月25日去世，27日火化，享寿83。近亲属在其社交媒体公布了简短讣闻，并遵遗嘱丧事从简。至此，香江四大 才子（黄霑2004、金庸2018、倪匡2022）全部驾鹤西去，伴随他们凋敝的还有萎缩至极的港文化。 蔡澜辞世在陆港台三地都引发了不小的关注，不过两岸三地在其身后的表达并不一致。港台的纪念大同小异，突出蔡澜的文化名人身份，紧扣其四大才子 的文化贡献，两地苟延残喘的报界均出版大篇幅纪念专题，追忆、怀念，挥手作别。 机构媒体心灰意懒，因为早就不做名人逝世的纪念社论，所以将蔡澜的解释权交了出去。短时间内，流媒体空间中解读模式轮替，迅速完成对蔡澜其人其 事的纪念与解构：一个有魏晋风范、不怕死的豁达文人，一个逼良为娼的老逼登。 对蔡澜的积极评价（不等于正确评价），主要是说他这个人酒气财色样样精通，其"洒脱活过"的享乐主义人生观也大受称赞。他那些看起来肆意的纵乐， 比如有过几十个女友、一年交一个女友等行径，也因为被艳羡而一并被谅解了。 前三个同辈中人死后享有荣光，黄霑坐稳了词人重镇的地位，金大侠自不必说，倪匡身后无 ...

Financial Performance and Guidance - The company's 2021 budgeted Adjusted EBITDA is $6.8 billion, a decrease of approximately 2% compared to the 2020 forecast, reflecting headwinds from lower re-contracting rates and crude volumes[15] - 2021 Distributable Cash Flow (DCF) is budgeted at $4.4 billion, down approximately 3% from the 2020 forecast, also impacted by higher anticipated sustaining capex[15] - Net income for 2021 is projected to be greater than $2.1 billion, an increase primarily due to asset and goodwill impairments taken during 2020[15] - The company has a $2 billion share buyback program, with $575 million already purchased since December 2017[13] - The company maintains a current dividend yield of over 7%, with a Q3 2020 annualized dividend of $1.05 per share[14] Business Overview and Strategy - The company moves approximately 40% of U S natural gas consumption and exports[9] - Approximately 74% of the company's earnings are from take-or-pay or hedged contracts, providing stable cash flows[37, 48] - The company has commercially-secured capital projects underway totaling $2.6 billion as of September 30, 2020[23] - The company's business mix includes 62% natural gas, 15% products, 14% terminals, 6% CO2, and 3% oil & gas production[11] Market and Industry Trends - U S natural gas demand is expected to grow, with over 85% of the forecasted demand growth driven by Texas and Louisiana[18] - Global biofuels demand is expected to increase by approximately 146% from 2019 to 2040[46]