Group 1 - CMA Media, a subsidiary of the CMA Group, has entered exclusive negotiations to acquire the well-known European media company Brut. [1][4] - Brut. is a prominent digital media brand based in Paris, reaching over 500 million viewers monthly across various social media platforms in more than 100 countries. [4] - The acquisition is seen as a significant milestone in CMA Media's strategic transformation, aligning with CMA Group's global strategy. [4][6] Group 2 - CMA Group's CEO Rodolphe Saadé stated that the acquisition of Brut. will enhance CMA Media's influence in the digital media sector and help reshape information production and consumption. [6] - Guillaume Lacroix, co-founder and president of Brut., expressed a shared ambition with CMA Media to adapt media for the new generation and accelerate international expansion. [6] - Analysts suggest that this move reflects a broader strategy by CMA Group to seek new growth opportunities in rapidly changing industries, positioning the company as a potential international media giant. [6]

三木集团：上半年预亏1亿–1.2亿元 7月8日，三木集团（000632）发布2025年半年度业绩预告，公司预计2025年上半年归属于上市公司股东 的净亏损1亿元至1.2亿元，较上年同期盈利740.27万元大幅下降；预计扣除非经常性损益后的净亏损 7700万元至9500万元；基本每股收益为亏损0.2148-0.2578元/股。 资料显示，三木集团成立于1992年10月，主营业务是进出口贸易、城市产业发展、经营性物业运营管理 和创业投资等业务。 所属行业：综合–综合Ⅱ–综合Ⅲ 蓝黛科技：筹划控制权变更事项 股票停牌 7月8日，蓝黛科技（002765）发布公告称，公司实际控制人正在筹划转让所持有的公司18%股份等股权 事宜，可能导致公司控制权发生变更。目前该事项处于洽谈阶段，存在较大不确定性。公司股票自2025 年7月8日上午开市起停牌，预计停牌时间不超过2个交易日。 资料显示，蓝黛科技成立于1996年5月，主营业务是动力传动业务、触控显示业务。 所属行业：电子–光学光电子–面板 新锐股份：高管拟减持不超过75万股公司股份 7月8日，新锐股份（688257）发布公告称，公司高级管理人员刘勇计划自2025年7月30日 ...

Group 1 - The trade conflict between Canada and the U.S. escalated after Canada announced a 25% tariff on U.S. imports that do not comply with the USMCA agreement, particularly targeting American automobiles [3] - Canada plans to impose a 3% digital services tax on major tech companies like Amazon, META, Google, and Apple, retroactively applying it to revenues exceeding $14.3 million since 2022 [3] - The economic disparity between Canada and China is highlighted, with China's GDP projected to be over seven times that of Canada in 2024, indicating Canada's limited capacity to confront the U.S. [5] Group 2 - Following Canada's firm stance, the U.S. responded by halting all trade negotiations until Canada retracts the digital services tax, with potential annual retaliatory tariffs of $2 billion on Canadian goods if investigations reveal subsidization or dumping [7] - Canada took measures against Chinese company Hikvision, citing national security concerns, which appears to be an attempt to gain favor with the U.S. despite lacking specific evidence of threat [7] - China has expressed strong opposition to any actions that sacrifice its interests for U.S. concessions, indicating potential repercussions for Canada's recent decisions [10]

Group 1 - The core risk of the company lies in the mismatch between its "digital healthcare facade" and "pharmaceutical wholesale core," revealing structural vulnerabilities in its business model [2] - The majority of revenue is derived from low-margin wholesale sales of pharmaceutical health products, with a shrinking proportion of high-margin digital healthcare solutions, leading to a negative cash flow situation [2] - The company has experienced continuous negative operating cash flow for four years due to high inventory costs, which consume 90% of sales and service costs [2] Group 2 - User engagement has deteriorated, with average monthly active users dropping from 3.9 million in 2021 to 3 million in 2024, indicating a decline in platform attractiveness [3] - Cumulative losses over three and a half years amount to 460 million yuan, with losses expanding to 83.26 million yuan in the first half of 2024 [4] - The IPO represents a race against time for the company, focusing on whether it can attract investors with its "largest digital healthcare platform" narrative and whether it can transform its user base into high-margin digital service revenue [4]

华鑫证券有限责任公司张伟保,任春阳,傅鸿浩,张涵,覃前近期对道通科技进行研究并发布了研究报告《公司 事件点评报告：AI数智能源业务已于Q2实现盈利，华为稀缺合作打开增长空间》，首次覆盖道通科技给予 买入评级。 AI软件收入单列并呈加速发展趋势，持续优化收入结构 公司自2025Q1起将"软件升级服务"及其他AI与软件相关收入合并列示，更好反应"智能终端为入口，AI软 件持续收费"的业务实质。目前AI及软件业务以数字维修的"软件升级服务"占比为主，同时充电云业务表现 亮眼，其智能运营、运维及支付平台2025Q1订单增长80%。充电云在海外市场的收费模式基于云平台所管 理的充电枪口数量，每年收取软件服务费。随智能诊断终端和智能充电终端销售增长，AI软件服务费收入 有望加速增长。 公司成为华为具身体系能力型伙伴，有望打开全新增长空间 道通科技(688208) 事件 道通科技发布2025年半年度业绩预告：实现扣非归母净利润4.55-4.85亿元，同比+57.32-67.69%；实现归母 净利润4.6-4.9亿元，同比+19-26.76%。 投资要点 AI助力数智维修、数智能源业务持续高增 公司推出搭载"维修大模型"和A ...

A股三大指数今日集体上涨，截至收盘，沪指涨0.7%，深成指涨1.46%，创业板指涨2.39%，北证50指数 涨1.36%。全市场成交额14746亿元，较上日放量2476亿元。全市场超4200只个股上涨。板块题材上， 光伏、算力硬件、游戏、医疗服务、钢铁、数字货币概念股涨幅居前；中船系、银行、电力板块表现落 后。盘面上，光伏设备板块集体大涨，首航新能（301658）、亿晶光电（600537）、欧晶科技 （001269）等近10股涨停。铜缆高速连接、CPO、PCB等算力硬件股全线爆发，得润电子（002055）、 新亚电子（605277）、广合科技（001389）等多股涨停。数字货币概念股午后震荡走高，中油资本 （000617）直线涨停，高伟达（300465）、科蓝软件（300663）跟涨。钢铁板块震荡走高，柳钢股份 （601003）、杭钢股份（600126）、金岭矿业（000655）涨停。银行板块今日多数调整，浦发银行、南 京银行、上海银行（601229）等纷纷下挫。电力板块部分走低，西昌电力（600505）、九洲集团 （300040）、江苏新能（603693）领跌。 ...

(2025年7月8日，上海讯)近日，全球合作伙伴经济核心引擎impact.com宣布，钛动科技正式成为其在中 国市场的认证合作伙伴。这是继蓝标传媒之后，impact.com在中国生态体系中的又一核心成员，标志着 其服务商合作体系战略在本地市场进一步深化。 通过构建本地化的认证服务商体系，impact.com持续推进资源整合、能力共享与运营规范的落地执行， 助力出海品牌在日益复杂的全球市场环境中提升增长效率与营销确定性。钛动科技的加入，不仅扩展了 生态中的技术服务能力，也为更多中国品牌提供了链接全球市场的新路径。 钛动科技加入，生态协同能力再升级 作为该战略下的重要举措，"Work with impact.com"合作计划已陆续落地多场行业直播、线下沙龙与内 容共创项目，面向技术供应商、营销机构、KOL、媒体与品牌客户开放合作。通过多元参与机制和生 态激励策略，impact.com正逐步打造一个开放、可持续、具备高度协同能力的本地合作网络，为更多中 国企业出海提供可复制的增长路径。 impact.com大中华区高级市场总监John Huang表示："我们始终相信，只有构建起真正'在地化'的合作网 络，才能帮助品 ...

在天津，曾经闲置的楼宇，如何摇身变为创业者心驰神往、"开园即满园"的"香饽饽"？ 怎么办？作为核心区主要运营平台，天开集团经过多轮调研，看中了距离天开广场几公里外的中电科创 园，并迅速在里面的一栋楼宇里，帮数格科技物色到1500平方米的新场地。于是，数格科技便将孵化出 来的新企业——数格致元（天津）科技有限公司落在了这里。 "从看房到入驻只用了一个月！"提起这事，数格致元董事长郑松刚仍很兴奋。 走进数格致元的新办公室，宽敞明亮、干净整洁。在这里，人工智能模型与整车车身技术加速融合，一 款款搭载自主算法的工业软件正逐步推向主流车企。从核心区"育苗"，到新载体"施肥"，在郑松刚眼 中，天开园"梯度培育"的组合拳，给科创企业搭建了成长阶梯。如他所说："天开园提供了一方能让种 子发芽、幼苗长大的'科创良田'，让我们能心无旁骛搞研发、出成果。" 中电科创园载体的盘活，实现了"天开速度"。2025年3月天开集团接手后，以数字经济、电子信息为招 商主线，2万平方米的载体，12天便实现意向客户过半。 企业有需求，政府当"红娘"，科创来助力，闲置楼宇成了企业争抢的"香饽饽"。 河西区网信大厦，也曾一度冷清，如今盘活后引得北京企 ...

Core Viewpoint - The emergence of "digital trendy play spaces" is becoming a standard in urban life, driven by high-quality upgrades in "parent-child consumption" and experiential socialization among young people. Investors and operators are exploring the feasibility and operational success of such venues [1] Group 1: Standardization for Practical Implementation - The establishment of trendy play venues involves complex processes including site selection, design, construction, equipment configuration, personnel training, and opening preparations. The company aims to simplify these processes into clear, executable steps to reduce operational difficulties for partners [2] - Site selection and evaluation are based on past case experiences to assess the suitability of target business districts, considering factors like customer flow structure, floor location, and area compatibility [2] - The company has its own design team to optimize space design and layout, ensuring efficiency and user experience tailored to each project [2] - Equipment configuration is customized based on local customer demographics, ensuring a focus on key and differentiated entertainment and sports equipment [2] - The company provides pre-opening assistance and ongoing operational support, including remote support mechanisms to help stores quickly enter operational status [2] Group 2: Localization for Regional Appeal - While standardization ensures efficiency, localization is crucial for engaging users and capturing market share. The company emphasizes the importance of adapting to local consumer habits and preferences [3] - Project selection is tailored to regional consumption habits, with a focus on interactive and safe projects in family-oriented areas and competitive equipment in youth-centric districts [3] - Space design is flexible, allowing for quick customization of project combinations and flow plans for various venue sizes [3] - Localized operational content is planned in conjunction with local festivals, cultural elements, and community activities to drive online and offline traffic [3] - Venue design elements, including names and promotional activities, can be differentiated based on city characteristics to avoid uniformity [3][4] Group 3: Diverse Collaboration Models - The company offers various collaboration models, including brand direct sales, joint ventures, and standard franchising, to meet the diverse needs of investors [5] - The standard franchising model allows for full replication of the headquarters' standard system, providing technical, product, and service support for rapid store establishment [6] - The joint venture model involves the company providing core equipment and operational plans while partners invest in construction or provide venues, suitable for those with local resources [6] - The brand direct sales model is aimed at investors willing to co-create brand value in target cities, benefiting from brand dividends and operational sharing [6] - This flexible collaboration system lowers entry barriers and enhances security, with clear communication and process adherence to mitigate risks [6]

英大证券研究所证券研究报告 2025 年 7 月 8 日 短期震荡蓄势不改中期向好格局 分析师：惠祥凤 执业证书编号：S0990513100001 电话：0755-83007028 邮箱：huixf@ydzq.sgcc.com.cn 观点： 总量视角 【A 股大势研判】 周一沪指相对强势，但创业板以及深成指的回落下，三大指数分化明显，表 明市场震荡格局依旧。盘面上看，电力、房地产等板块一度表现下，支撑沪指保 持相对强势，不过，题材股整体疲软下，深成指以及创业板指全天走低。两市成 交额萎缩至 1.2 万亿。 我们认为，在政策持续发力（如稳增长、产业支持等）和经济基本面逐步修 复的大背景下，当前的震荡更应视为蓄势而非滞涨，是为后续方向选择积蓄能量。 一方面，国经济复苏态势逐步显现，但修复力度仍不够强劲，企业盈利改善的幅 度也未达预期。不过，随着政策持续发力下，经济回升以及企业盈利回升值得期 待；另一方面，海外美联储三季度降息预期增强，国内继续宽松也值得期待。 综上所述，目前基本面和流动性这两大关键因素还未能形成有力支撑的情况 下，集中发力推动市场全面上涨的概率较低，震荡上行的概率较大，结构性行情 为主。目光稍微长 ...