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葛兰旗下基金增聘基金经理 多基金经理共管已成行业趋势
2 1 Shi Ji Jing Ji Bao Dao· 2025-07-04 14:49
2025上半年,共有666只基金出现"共管式增聘"。 葛兰在管规模最大的基金,迎来了新的共管基金经理。 7月4日晚间,中欧医疗健康发布公告称,增聘赵磊为基金经理,与葛兰共同管理该产品。 数据显示,截至2025年一季度末,中欧医疗健康混合的管理规模为311.79亿元,是葛兰旗下在管规模最 大的基金。截至7月4日,中欧医疗健康年内的总回报为11.42%,同类排名1202/4548,同期相较业绩基 准的超额收益则约为8.33%。 记者注意到,在此次参与共管前,赵磊并无其他公募基金的管理经验。不过据了解,作为中欧基金医疗 投研团队核心成员,赵磊拥有超8年的医药生物行业研究经验。 截至2025年一季度末,中欧医疗创新、中欧明睿新起点的规模为81.99亿元和10.69亿元,其中前者与中 欧医疗健康同投资于医药板块,后者则侧重于科技成长领域。截至7月4日,两只基金年内的收益分别为 43.09%和-6.3%。 值得一提的是,在行业层面,今年以来"多基金经理共管"正成为行业趋势。 数据统计,2025年上半年,共计1927只产品出现基金经理新任职变动。除去产品成立、基金经理换人等 情况,其中666只产品为"共管式增聘",背后涉及 ...
瑞穗:解码中国的财政刺激——从补贴到销售
Zhi Tong Cai Jing· 2025-07-04 14:48
编者按:瑞穗亚洲有限公司7 月 3 日发布中国宏观研究报告,预期未来几周,中国央行将综合运用定向短期和中期工具来补充流动性,并引导市场回购利 率小幅下降。 中国已确认将于 7 月发放第三批以旧换新补贴,预计拨款 700 亿元人民币。目前部分地区暂停的以旧换新计划,预计很快将恢复。这笔资金有望在 2025 年第三季度推动零售额超过 5000 亿元人民币。 尽管有人将 "618" 购物节期间该计划的暂停解读为其成本高昂且不可持续的信号,但我们认为这表明该计划在消费者中极受欢迎。数据显示,今年前五个 月,通过该计划产生的销售收入约为已发放补贴金额的 7 至 8 倍。 从货币政策角度来看,该计划不太可能对市场流动性产生重大影响。近期的流动性收紧主要是由于大量政府债券发行以及典型的季末资金紧张所致。未来 几周,我们预计中国人民银行将综合运用定向短期和中期工具来补充流动性,并引导市场回购利率小幅下降。 以旧换新补贴的后续资金。中国有关部门已确认,今年政府以旧换新计划的第三批资金即将发放。虽然具体细节尚未披露,但预计拨款约为 700 亿元人民 币,占 2025 年剩余预算的一半。官员们强调,补贴发放将采取适度、均衡的方式。 ...
中证国新国企航空航天科技指数下跌0.42%,前十大权重包含中航沈飞等
Jin Rong Jie· 2025-07-04 14:48
金融界7月4日消息,A股三大指数收盘涨跌不一,中证国新国企航空航天科技指数 (国新国企航空航 天,932419)下跌0.42%,报2449.8点,成交额178.8亿元。 数据统计显示,中证国新国企航空航天科技指数近一个月上涨6.55%,近三个月上涨11.66%,年至今上 涨5.93%。 从中证国新国企航空航天科技指数持仓的市场板块来看,上海证券交易所占比63.79%、深圳证券交易 所占比35.60%、北京证券交易所占比0.60%。 从中证国新国企航空航天科技指数持仓样本的行业来看,工业占比82.72%、原材料占比5.87%、信息技 术占比5.03%、通信服务占比4.73%、可选消费占比1.65%。 资料显示,指数样本每半年调整一次,样本调整实施时间分别为每年6月和12月的第二个星期五的下一 交易日。权重因子随样本定期调整而调整,调整时间与指数样本定期调整实施时间相同。在下一个定期 调整日前,权重因子一般固定不变。特殊情况下将对指数进行临时调整。当样本退市时,将其从指数样 本中剔除。样本公司发生收购、合并、分拆等情形的处理,参照计算与维护细则处理。 据了解,中证国新国企航空航天科技指数从国有企业中选取40家业务 ...
总量双周报:开启新征程-20250704
Dongxing Securities· 2025-07-04 14:47
总量双周报:开启新征程 | | | | 分析师 | 林阳 电话:021-65465572 邮箱:linyang@dxzq.net.cn | 执业证书编号:S1480524080001 | | --- | --- | --- | | 分析师 | 康明怡 电话:021-25102911 邮箱:kangmy@dxzq.net.cn | 执业证书编号:S1480519090001 | | 分析师 | 林瑾璐 电话:021-25102905 邮箱:linjl@dxzq.net.cn | 执业证书编号:S1480519070002 | | 分析师 | 陈刚 电话:010-66554028 邮箱:chen_gang@dxzq.net.cn | 执业证书编号:S1480521080001 | | 分析师 | 刘嘉玮 电话:010-66554043 邮箱:liujw_yjs@dxzq.net.cn | 执业证书编号:S1480519050001 | | 分析师 | 田馨宇 电话:010-66554013 邮箱:tianxy@dxzq.net.cn | 执业证书编号:S1480521070003 | 东兴证券总量双周报 总量双周 ...
聚焦次商圈 下半年北京预计将有超39万平方米零售商业入市
Bei Jing Shang Bao· 2025-07-04 14:47
北京商报讯(记者刘卓澜)7月4日,CBRE世邦魏理仕发布《2025年上半年北京房地产市场回顾与展望》 报告。报告显示,2025年第二季度,北京非核心商圈交付两个城市更新项目,带来上半年仅有的24万平 方米新增商业面积。世邦魏理仕华北区董事总经理刘焕丽表示,下半年,北京预计将有超39万平方米体 量的零售物业在次级商圈陆续开业,其中包括已部分试运营的中关村大融城及隆福寺二期等。与此同 时,个别老牌项目因经营理念落后或品牌定位陈旧,也在考虑闭店改造。 在零售品牌方面,运动户外品类表现强劲,安踏超级首店入驻昌平超极合生汇西区、迪桑特大铺在华贸 中心围挡。受此带动,服饰零售整体新增店铺占比同比小幅上涨4个百分点至31%。珠宝首饰类作为上 半年少数呈增长态势的商品零售业态,开店活动持续活跃,泡泡马特旗下珠宝产品线POPOP及周六福 吉文创形象店均在国贸商城开设了首店。全市上半年净吸纳量总计16.2万平方米,空置率累计上升0.2个 百分点至7.5%。 由于可选消费需求以及高承租能力品牌的拓店需求依旧谨慎,全市购物中心首层平均租金延续下降趋 势。与季初同样本相比,上半年累计下跌0.7%,降至每天每平方米30.8元。其中,次级 ...
轮胎行业专题报告(2025年6月):橡胶等原料价格继续下降,赛轮发布液体黄金轮胎时尚系
Xinda Securities· 2025-07-04 14:46
Research and Development Center 轮胎行业专题报告(2025 年 6 月): 橡胶等原料价格继续下降,赛轮发布液体黄金轮胎时尚系列新品 [Table_ReportTime] 2025 年 7 月 4 日 [Table_Industry] 证券研究报告 行业研究 [Tabl 行业e_ReportType] 专题报告 [Table_StockAndRank] 轮胎行业 [Table_A 张燕生 uthor化工] 行业首席分析师 执业编号:S1500517050001 联系电话:+86 010-83326847 邮 箱:zhangyansheng@cindasc.com 洪英东 化工行业分析师 执业编号:S1500520080002 联系电话:+86 010-83326848 邮 箱: hongyingdong@cindasc.com 尹柳 化工行业分析师 执业编号:S1500524090001 联系电话:+86010-83326712 邮箱:yinliu@cindasc.com 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲127号 ...
签约项目122个、总金额超400亿元 四川宜宾四川宜宾在京释放投资磁力
Sou Hu Cai Jing· 2025-07-04 14:46
封面新闻记者 伍雪梅 北京摄影报道 7月4日,四川省宜宾市2025京津冀投资推介会暨项目合作协议签署仪式在北京举行,吸引了政府机构、科研院所、头部企业、金融资本等领域的200余名 相关负责人、嘉宾代表参加。 宜宾市2025京津冀投资推介会暨项目合作协议签署仪式在北京举行。 嘉宾观看宜宾城市宣传片。 活动期间,宜宾共签约项目122个,签约总金额达403.08亿元,涵盖基金机构、数字经济、新型储能、动力电池、智能网联新能源汽车、低空经济等领 域。签约项目主要集中在基金机构、数字经济、新型储能、智能网联新能源汽车、动力电池、光伏、低空经济产业等方面,主要包括鼎晖投资、弘毅投 资、大连金慧、同方科技、追觅生态链企业等,精准延链补链强链,赋能产业协同融合发展新生态。 活动中,机器人成为主持人。 事实上,今年以来,宜宾这座"产业之城""机遇之城""共赢之城"投资推介动作频频,从年初产业投资基金群、应用场景机会清单的发布,到奔赴长三角开 展投资推介,再到此次"上京",宜宾积极推进着高能级的产业链、创新链、资本链、人才链融合。 宜宾市经济合作和新兴产业局相关负责人介绍,以2025上海投资推介会成果转化为例,截至目前,已成功转 ...
Can Burlington's Margin Strategy Withstand Tariff Pressures?
ZACKS· 2025-07-04 14:45
Core Insights - Burlington Stores, Inc. (BURL) achieved stronger-than-expected margin performance in Q1 2025, reporting an adjusted EBIT margin of 6.1%, which is an increase of 30 basis points year-over-year and significantly above the guidance of a decline of 50-90 basis points [1] - The gross margin improved by 30 basis points to 43.8%, supported by a 20-basis-point increase in merchandise margin and a 10-basis-point reduction in freight expenses [2] - For 2025, Burlington maintains its outlook of 6-8% sales growth and an adjusted EBIT margin flat to up 30 basis points, assuming stable tariffs, inflation, and freight costs [4] Financial Performance - Adjusted SG&A expenses decreased by 30 basis points due to the timing of SOAR program expenses and company-wide cost-saving actions [3] - Reserve inventory rose by 31% in dollar terms, now representing 48% of total inventory, which is expected to support future margins [3] - Product sourcing costs increased by 10 basis points as a percentage of sales to $197 million from $183 million, reflecting higher asset protection investments [2] Comparative Analysis - Target Corporation (TGT) increased its operating margin to 6.2% from 5.3%, while its gross margin slipped to 28.2% due to higher markdowns and supply-chain costs [5] - Ross Stores (ROST) maintained an operating margin of 12.2%, with SG&A expenses rising slightly to $797.1 million [6] - Dollar Tree (DLTR) saw its gross margin rise to 35.6%, but its operating margin contracted to 8.3% due to elevated costs [7] Valuation and Estimates - Burlington's stock has gained 9% over the past three months, compared to the industry's growth of 8.8% [8] - The forward 12-month price-to-sales ratio for BURL is 1.31X, lower than the industry average of 1.80X [10] - The Zacks Consensus Estimate for Burlington's current fiscal-year sales implies a year-over-year growth of 7.5% [12]
LiveOne Teams Up With Synervoz to Boost Voice AI and Expand B2B Deals
ZACKS· 2025-07-04 14:45
Core Insights - LiveOne, Inc. (LVO) has formed a strategic partnership with Synervoz Communications, Inc. to enhance voice-enabled experiences in devices and operating systems [1][10] - The collaboration is expected to unlock over 70 Business-to-Business (B2B) opportunities across various industries, including automotive and retail [2][10] - LiveOne aims to transform audience engagement with audio through innovations such as voice search and collaborative podcast streaming [3][4] Company Developments - LiveOne is focusing on expanding its B2B partnerships, having secured significant agreements, including a partnership with Amazon valued at over $16.5 million and another with a Fortune 50 company worth more than $25 million [5] - The company is operating at nearly a $50 million annual run rate from five newly launched B2B partnerships and is preparing for a major collaboration expected to bring in nearly 10 times the number of subscribers compared to its Tesla partnership, scheduled for August 2025 [6][10] - In February 2025, LiveOne partnered with Telly to provide a dual-screen audio and entertainment experience, allowing users to enjoy music or podcasts on a secondary display [7] Market Performance - LVO currently holds a Zacks Rank 3 (Hold) and has seen its shares decline by 34% over the past year, contrasting with the Zacks Audio Video Production industry's growth of 42.4% [8]
Ericsson, LMT Partner for Cloud-Native Core Network Transformation
ZACKS· 2025-07-04 14:45
Core Insights - Ericsson has been selected by Latvia's largest communication service provider, Latvijas Mobilais Telefons (LMT), to modernize its core network infrastructure and support the nationwide deployment of 5G Standalone (5G SA) services [1][8] - The partnership between Ericsson and LMT is long-standing, focusing on innovative initiatives and network development projects, marking the initial deployment of Ericsson's Unified Data Management (UDM) solution within the Telia Group [2][8] - The upgrade to a cloud-native architecture will enhance LMT's agility, scalability, and innovation in delivering advanced digital services [1][3] Company Developments - The deal involves a comprehensive overhaul of LMT's subscriber domain infrastructure, transitioning to a cloud-based, service-oriented architecture [3] - Key components of the transformation include the deployment of Ericsson's Network Functions Virtualization Infrastructure, allowing LMT to run both virtualized and cloud-native network functions [4] - The agreement also includes replacing LMT's legacy Home Location Register (HLR) and Home Subscriber Server (HSS) with Ericsson's UDM platform, crucial for supporting Latvia's expanding digital economy [5] Market Position and Strategy - Ericsson is positioned to grow by capitalizing on strong 5G demand, aiming to lead in mobile networks and develop a robust enterprise business [6] - The company has made strategic acquisitions, including Vonage and Cradlepoint, to expand into wireless, 5G, and security sectors [6] - Recent innovations include the launch of Ericsson On-Demand, a SaaS model for 5G core network services developed in collaboration with Google Cloud, enhancing operational efficiency for communications service providers [7] Challenges and Competition - Despite growth opportunities, Ericsson faces pressures from geopolitical and economic challenges, including declining revenues in China due to market share issues and competition from Huawei and Nokia [8][9] - Supply-chain issues and reduced spending by telecom operators in various regions are contributing to revenue declines [9] Financial Performance - Ericsson currently holds a Zacks Rank 2 (Buy) and has gained 37.3% over the past year, outperforming the Zacks Wireless Equipment industry's growth of 33.3% [10]