Group 1 - In May, the Consumer Price Index (CPI) in Yongzhou City decreased by 0.6% year-on-year and by 0.3% month-on-month [1] - Among eight categories of goods, five experienced price increases while three saw declines year-on-year [1] - The prices of other goods and services rose by 7.5%, while transportation and communication prices fell by 3.5% year-on-year [1] Group 2 - Non-food prices decreased by 0.3% month-on-month, with service prices down by 0.1%, contributing to a CPI decline of approximately 0.04 percentage points [2] - Housing prices, both self-owned and rental, fell by 0.7% and 0.4% respectively, impacting CPI by about 0.10 percentage points [2] - International oil price declines led to domestic gasoline and diesel prices dropping by 3.8% and 4.0%, respectively, affecting CPI by approximately 0.15 percentage points [2]

Group 1 - The construction of Hangzhou International Financial Center (IFC) is accelerating, marking the fourth IFC in the country, with major companies like Zhizhu AI settling in the area [1] - The Qianjiang New City Phase II project is continuously gathering momentum, with various living facilities being developed, including roads, green spaces, and kindergartens [1] - The Neighbors Center Yunnxin Store, covering an area of approximately 40,000 square meters, has completed acceptance and will soon be operational, providing a range of community services [1] Group 2 - The completion of the Hongpu Road project, a major urban road, spans 400 meters with a design speed of 50 km/h, and has passed acceptance [2] - The Yunfeng Road project, measuring 253 meters with a design speed of 30 km/h, has also been completed and is set for acceptance by the end of June [2] - The green space project "Yunfeng Tanmei Garden," covering approximately 989 square meters, is expected to enhance community interaction and ecological scenery upon completion [3] Group 3 - A new kindergarten with a total area of about 6,494 square meters has been delivered, accommodating up to 360 children, contributing to the educational infrastructure in the Chengdong New City area [3]

"稳就业"不只是实现"充分就业"，还要实现"高质量就业"；也就是说，需要兼顾就业的总量与结构、数量与质量，全面提升劳动者的获得感、幸福感和安全 感。 4月底的中央政治局会议提出，要"着力稳就业、稳企业、稳市场、稳预期，以高质量发展的确定性应对外部环境急剧变化的不确定性"，把"稳就业"排在"四 稳"之首，反映出中央对就业问题的高度重视。当前，在复杂多变的国内外经济、社会、科技与地缘政治环境下，"稳就业"具有更丰富的内涵。二十届三中 全会提出，要"完善就业优先政策，健全高质量充分就业促进机制"。这意味着，"稳就业"不只是实现"充分就业"，还要实现"高质量就业"；也就是说，需要 兼顾就业的总量与结构、数量与质量，全面提升劳动者的获得感、幸福感和安全感。因此，有必要理解"稳就业"的多维内涵，有针对性地综合施策，快速有 效地落实中央的"稳就业"部署。 多维度理解"稳就业"的内涵 在新形势下，"稳就业"应包括以下内涵。一是稳就业数量，确保实现充分就业；二是稳就业结构，确保各类劳动者群体都能实现或接近实现充分就业；三是 稳就业质量，确保劳动者的收入水平不显著下降，保障劳动者的权益不受侵犯，提升就业的获得感和幸福感；四是稳就 ...

Macro and Strategy - The report highlights a seasonal increase in funding rates expected in June due to the peak of maturing funds and quarter-end factors [8][9] - The analysis of the public utility and environmental protection industry indicates a mixed performance, with the public utility index rising by 0.26% while the environmental index fell by 1.19% [9][10] Industry and Company - The public utility and environmental protection sector is undergoing significant changes, with the National Energy Administration initiating hydrogen energy pilot projects and Guangdong province issuing a "waste-free city" construction plan [10][11] - The report identifies a strong growth trajectory for the electronic specialty resin segment within Shengquan Group, driven by high demand in manufacturing and technology sectors [25][26] - AIA Group is recognized as a leading life insurance company in the Asia-Pacific region, achieving an annual new premium income of $8.606 billion and a net profit of $6.883 billion in 2024 [22][23] - The report emphasizes the unmet needs in the IBD treatment market, with a global market size exceeding $20 billion and significant opportunities for new drug development targeting this area [20][21] Investment Strategies - The public utility sector is recommended for investment, particularly in large coal-fired power companies and renewable energy leaders, as policies continue to support the growth of the renewable sector [11][12] - The education sector is highlighted for its resilience, with K12 education expected to maintain strong demand despite demographic challenges, and AI education products gaining traction [15][18] - The report suggests focusing on companies with strong cash flow in the waste incineration industry, as they are expected to benefit from improving cash flow dynamics [10][12]

大家早上好！这里是今天的早报，每天早上，我都会在这里跟你聊聊昨夜今晨发生了哪些大事儿。 本 栏目由虎嗅出品。 热点追踪 【因技术故障等原因，印度航空取消至少5架次波音机型国际航班】 据央视新闻，总台记者17日获悉，因技术故障等原因，印度航空当天取消了至少5架次国际航班，涉及航班包 括印度艾哈迈达巴德飞往伦敦、德里飞往巴黎、德里飞往迪拜、德里飞往维也纳以及伦敦飞往印度阿姆利则。 据了解，涉及航班的机型均为波音客机。 【欧盟委员会计划全面禁止进口俄石油天然气】 据界面新闻，欧盟委员会6月17日提出一项立法提案，欧盟将在2027年底前逐步停止进口俄罗斯的天然气和石 油。 该提案提出，在2027年底前逐步淘汰直接或间接从俄罗斯进口的管道天然气（PNG）和液化天然气 （LNG），同时彻底停止进口俄罗斯石油。 提案还提出，从2026年1月1日起禁止在新合同下进口俄罗斯天然气，所有长期合同下的进口将于2027年底前完 全停止。 该提案将遵循共同决定的立法程序，预计将获得大多数成员国支持而正式生效。 【国务院安委办对湖南常德山洲烟花有限责任公司爆炸事故查处挂牌督办】 【机构回应12岁女孩花3200学韩语：已退款】 据九派新闻 ...

Group 1: AI Smart Body Release and Features - The AI smart body for home elderly care will be launched on June 26, 2025, at 3 PM [2] - The launch event will showcase practical demonstrations, innovative elderly care models, and advancements in proactive health management [3] - The AI smart body will recommend suitable activities for seniors based on their health status, interests, and community data, rewarding participation with "Guomai Coins" [3] Group 2: Guomai Coin Mechanism - Guomai Coin serves as an incentive mechanism connecting the AI smart body and physical services, encouraging users to engage in beneficial activities [3] - Users earn Guomai Coins by completing activities, which can be redeemed for community goods and services, promoting a cycle of health improvement and service experience enhancement [3] Group 3: AI Smart Body vs. Robots - The AI smart body is a software system focused on decision-making and user interaction, while robots are physical devices emphasizing execution capabilities [4] - The integration of AI and IoT technologies is being developed to enhance elderly care services, with robots expected to play a role in physical interactions in the future [4] Group 4: Promotion and Community Engagement - The AI smart body will first be implemented in the "Guomai University Elderly Care" community to validate product performance and user experience [4] - The "Guomai University Elderly Care" project combines IoT sensing technology with AI algorithms to create a precise health management solution for seniors, emphasizing lifelong learning and intergenerational communication [4][5] Group 5: Educational Initiatives - Fuzhou University of Technology, established by the company, has nearly 14,000 students and aims to expand its scale and improve educational quality [6] - The university focuses on integrating education with industry needs, fostering high-quality application-oriented talents [6] Group 6: Business Growth and Employee Incentives - The company is actively seeking quality acquisition targets to enhance market competitiveness and sustainable development [7] - A long-term incentive mechanism is being established to share business growth results with employees [7] Group 7: Financial Performance - In 2024, the company achieved its best historical performance with a net profit growth of 61% year-on-year [8] - In Q1 2025, the company continued strong growth, with a net profit increase of 55% year-on-year and a 345% quarter-on-quarter growth [8]

Investment Rating - The report maintains an "Outperform" rating for the education sector [2] Core Insights - The education industry has two core functions: academic advancement and employment, leading to various sub-sectors. K12 education is characterized as a long-term growth sector with strong underlying demand and a long user lifecycle [3] - The K12 education market has previously reached valuations exceeding 1 trillion RMB, with leading companies like TAL Education, New Oriental, and Gaotu achieving peak market caps of 349.3 billion, 235 billion, and 217.8 billion RMB respectively [3] - The report highlights that the education sector is currently in a recovery phase post "Double Reduction" policy and pandemic, with structural investment opportunities still present [3] Summary by Sections Industry Trends - Favorable policies such as birth subsidies are expected to improve education consumption expectations, while K12 education is undergoing normalized regulation [6] - The population trend indicates a decline in the number of elementary school students starting in 2024 due to decreasing birth rates, although the demand for high school education remains strong [11][13] - There is a persistent strong desire for higher education, with the expansion of ordinary undergraduate degrees continuing [17][18] Market Performance - From January 1 to June 12, 2025, the education sector index rose by 5.04%, outperforming the broader market by 5.50 percentage points [24] - The report notes significant stock performance differentiation within the sector, with companies like China Oriental Education leading in vocational training due to a reassessment of blue-collar skill training value [30] Sub-sector Analysis - K12 Education: The report emphasizes the ongoing demand for K12 education despite regulatory challenges, with a focus on high-quality educational institutions benefiting from favorable demographic trends [30] - Vocational Education: The demand for vocational skills training is expected to grow, particularly as the labor market evolves [30] - AI in Education: The report highlights the rapid development and integration of AI in educational products, with traditional education companies accelerating their AI product offerings [22][24]

Core Viewpoint - The collaboration between Jiangsu and Tibet has significantly transformed the region through targeted aid, focusing on sustainable development, cultural integration, and improved living standards over the past three years [1][2][4]. Financial Investment and Project Implementation - Jiangsu has invested a total of 1.536 billion yuan in aid to Tibet, completing 165 aid projects, which has positioned it first in the national "14th Five-Year Plan" aid assessment for Tibet [1]. - The aid has shifted from "blood transfusion" to "blood production," emphasizing self-sustaining development [1][4]. Industrial Development - Jiangsu's aid has led to the establishment of modern agricultural and livestock demonstration parks, such as the 150 million yuan investment in the first comprehensive agricultural demonstration park in Tibet [2]. - The introduction of superior yak breeds has reduced the time to market from 7-8 years to 5 years, significantly increasing farmers' incomes [2][3]. - A total of 312 aid investment projects have been implemented, with an agreed investment amount of 59.3 billion yuan and actual funds reaching 33.7 billion yuan, ranking first among 17 aid provinces [5] [4]. Social Welfare and Living Standards - The aid has resulted in significant improvements in local infrastructure, including the construction of over 50 "heart bridges" and 32.3 kilometers of "happy roads" [6]. - Medical facilities have been upgraded with advanced equipment and training, leading to the establishment of the first second-level hospital in a county in Tibet [7]. - Educational initiatives have led to a high school entrance rate of 94.69% in 2024, with a notable increase in the number of students achieving top scores [8]. Cultural Exchange and Integration - Jiangsu has facilitated cultural exchanges through various initiatives, including the donation of 100,000 books and educational materials to local libraries [11]. - The promotion of tourism and cultural events has enhanced the visibility of both regions, with projects like the "Jasmine and Galsang" high-speed train and the Qinhuai Lantern Festival in Lhasa [10][11]. - The original musical film "Heaven·Dream" showcases the stories of Jiangsu's aid efforts and the social changes in Tibet, fostering a sense of unity among different ethnic groups [11].

Group 1 - The event "Million Talents Gather in South Guangdong" aims to enhance employment services for college graduates in Guangdong Province, featuring over 200 quality companies offering more than 5,000 job positions [1][3] - The recruitment event attracted over 3,000 job-seeking graduates, with nearly 600 initial employment intentions established [1][2] - The event is part of a broader initiative by the Guangdong Human Resources and Social Security Department to strengthen campus recruitment channels and meet the employment needs of young graduates [1][3] Group 2 - Competitive salaries were highlighted, with positions such as communication software engineers offering monthly salaries ranging from 11,000 to 25,000 yuan, and embedded system engineers having annual salaries exceeding 500,000 yuan [2] - The recruitment platform allows graduates who could not attend the event to access job information online, facilitating a "one location participation, province-wide job selection" approach [2] - The event featured a "one-stop" employment service area, serving nearly 1,800 graduates on-site, and utilized AI technology for real-time job matching and resume optimization [2] Group 3 - The event is a significant measure to implement the "Million Talents Gather in South Guangdong" action plan, aiming to promote high-quality employment for youth, particularly college graduates [3] - Over 2,100 similar recruitment events have been held across the province, serving approximately 670,000 graduates from both local and external universities [3]

Investment Rating - The report maintains a positive outlook on the Hong Kong stock market, particularly in sectors such as AI, new consumption, and innovative pharmaceuticals, indicating a rising risk appetite among investors [2][9]. Core Insights - The Hong Kong stock market has shown significant improvement in risk appetite, with notable performance in sectors like AI, new consumption, and innovative pharmaceuticals, leading to increased investor interest, especially in small and mid-cap stocks [2][9]. - The report suggests active participation in A+H shares due to observed discount phenomena in IPOs, with a focus on new consumption and manufacturing sectors [2][9]. - There is a sustained bullish outlook on virtual assets and the Web 3.0 market, driven by stablecoin policies and IPOs, with expectations for more regulatory developments in the future [2][9]. - The valuation of overseas Chinese assets remains influenced by US-China trade relations and the broader economic environment, highlighting the need to monitor changes in US tariff policies and domestic economic strategies [2][9]. Industry Tracking Summary 1. Education - The education index decreased by 0.98% from June 9 to June 13, underperforming compared to major indices, with 51talk rising by 12.09% and Thinking Education falling by 11.55% [10][14]. 2. Luxury Goods - The luxury goods sector faced slight pressure, with key stocks like Prada declining by 6.01% while new brands like Shiseido rose by 2.02% during the same period [18][21]. 3. Coffee and Tea - The sector showed stable growth, with individual stocks like Luckin Coffee increasing by 1.87%, while others like Bawang Tea experienced declines [23][27]. 4. E-commerce - The e-commerce sector saw a slight decline, with major players like Alibaba and JD.com facing competitive pressures, while the Hang Seng Internet Technology Index rose by 3.46% [29][34]. 5. Streaming Platforms - The streaming sector outperformed, with Tencent Music and NetEase Cloud Music showing significant gains, while Netflix experienced a decline [35][38]. 6. Virtual Assets & Internet Brokers - The global cryptocurrency market capitalization increased by 5.9%, with Bitcoin and Ethereum prices showing slight fluctuations, indicating ongoing interest in virtual assets [42][43].