宏 观 新 闻 早 报 精 选 1、 国办：协同推动破产重整、破产和解企业高效修复信用。 2、商务部介绍对欧盟稀土出口审批情况。 3、我国自主研发新一代CPU发布，不依赖任何境外供应链。 4、小米YU7售价25.35万元起。 5、*ST亚振、*ST广道停牌核查。 1、 国务院办公厅日前印发《关于进一步完善信用修复制度的实施方案》提出，协同 推动破产重整、破产和解企业高效修复信用。重整计划或和解协议执行期间，企业持 人民法院出具的批准重整计划或认可和解协议的裁定书提出信用修复申请。 2、商务部6月26日下午召开例行新闻发布会，有记者就对欧盟稀土出口审批情况提 问。商务部新闻发言人何亚东表示，中国一贯高度重视维护全球产供链的稳定与安 全，依法依规不断加快对稀土相关出口许可申请的审查，已经依法批准一定数量的合 规申请，并将持续加强合规申请的审批工作。中方愿就此进一步加强与相关国家的出 口管制沟通对话，积极促进便利合规贸易。 3、国家金融监督管理总局、中国人民银行联合发布《银行业保险业普惠金融高质量发 展实施方案》。《实施方案》明确，未来五年基本建成高质量综合普惠金融体系，普 惠金融促进共同富裕迈上新台阶。 行 业 ...

Core Viewpoint - AJP Holding Company and Orbic North America, holding approximately 19% of Sonim Technologies, are urging fellow stockholders to support their nominees for the board in light of Sonim's poor financial performance and management practices [1][2][3]. Financial Performance - Sonim reported a net loss of $33.65 million in 2024, equating to a loss of $7.13 per share, and has experienced a stock price decline of 87% in 2024, culminating in a total stock value loss of 98% over the past five years [6][15][16]. - The company has accumulated losses totaling $86.45 million from 2021 to 2024, indicating a pattern of poor financial management [6][15]. Management and Governance Issues - The current board and management have been accused of poor stewardship, engaging in entrenchment efforts, and failing to provide a strategic evaluation process that benefits stockholders [2][6][19]. - Sonim's board has implemented anti-takeover measures, including a poison pill strategy and dilutive stock offerings, which have negatively impacted stockholder value [6][7][19]. Proposed Changes - AJP and Orbic are nominating five independent candidates for the board, emphasizing the need for new leadership with industry expertise to conduct a strategic assessment of Sonim [3][11]. - The nominees are expected to advocate for a strategic review process and engage with Orbic regarding acquisition proposals, which could potentially unlock stockholder value [11][12]. Acquisition Proposals - Orbic has made a cash offer of $25 million to acquire substantially all of Sonim's assets, representing a 66.7% premium over another proposed transaction with Social Mobile [10][12]. - The proposed transaction with Social Mobile is viewed as unlikely to provide meaningful returns to stockholders, with estimates suggesting a per-share value of approximately $1.46, which could decrease further when accounting for transaction costs and existing debt [10][20]. Stockholder Engagement - AJP and Orbic are calling on stockholders to vote for their nominees to ensure a transformation in leadership that prioritizes stockholder interests and addresses the company's financial challenges [8][21][22].

Mon CHWYX CHWY Chewy Spot Secondary Managers: JPMorganPriced at: $41.9523.95M SharesSpecial CommentsExclusive Analysis LockedProprietary deal commentary available to members only. Sign up or login for access. Create FREE AccountProprietary deal commentary available to members only. Sign up or login for access.Managers:$41.9523.95M Shares Tues FMFCX FMFC Kandal M Venture IPO Managers: Dominari Securities & ReverePriced at: $4.002M SharesSpecial CommentsExclusive Analysis LockedProprietary deal commenta ...

Group 1 - Orbic North America, LLC has made a non-binding proposal to acquire substantially all of Sonim Technologies, Inc.'s assets for a cash purchase price of $25 million, equating to a price per share of $2.418 [1][2] - The acquisition proposal is supported by a $50 million financing commitment from a third-party lender, indicating Orbic's readiness to proceed with confirmatory due diligence and negotiate a definitive asset purchase agreement [2] - Orbic, along with AJP Holding Company, LLC, beneficially owns approximately 19% of Sonim's outstanding common stock, which may influence the acquisition process [2] Group 2 - The acquisition offer does not prevent Sonim from pursuing a parallel Reverse Take-Over transaction, as mentioned in Sonim's press release dated June 25, 2025 [2] - Orbic is positioned as a leader in mobile technology innovation, providing a range of connected solutions including smartphones, tablets, and mobile hotspots, aimed at delivering high-quality technology to a broader audience [4]

折叠屏现下依然是国产手机厂商们在高端市场与苹果较量的重要筹码。 仅在今年上半年，6月25日vivo对外发布了售价6999元起的新一代大折叠手机X Fold5，小米和荣耀紧接 着也将分别发布自己的小折叠手机MIX Flip2和大折叠手机MagicV5。而早在二三月间，OPPO和华为已 相继发布了大折叠手机FindN5和阔折叠屏手机PuraX。 在国内手机厂商纷纷发布新机的同时，折叠屏手机市场增速正日趋放缓，近日产业链还传出苹果折叠屏 手机可能在明年秋天面世的消息，这除了意味着折叠屏手机市场将更加热闹外，也意味着无论是要"截 胡"苹果手机用户，还是做苹果生态的"搭子"，国产手机厂商们意图转化苹果用户的脚步必须加快了。 折叠屏持续卷 折叠屏手机的普及，离不开工业设计、电池、屏幕等核心零部件的技术突破，也离不开成本和价格的持 续降低。 轻薄一直是折叠屏手机的重要卖点。以vivo新发布的 X Fold5为例，其搭载骁龙8Gen 3芯片，8.03英寸主 屏，但机身最低仅重217克，据vivo介绍，这个数字轻过当下所有大折叠和主流直板旗舰。但在轻薄的 同时，它还成为全球首款"三防"折叠屏手机：IPX9+防水能力、IP5X防 ...

Core Viewpoint - The article emphasizes the importance of developing new productive forces and modern industrial systems in Guangdong, with a focus on integrating financial services into the manufacturing industry to support small and medium-sized enterprises [2][5]. Group 1: Financial Services Innovation - Zhejiang Commercial Bank's Guangzhou branch is innovating financial services by creating scenario-based financial models that integrate deeply into the core of the industrial chain, specifically targeting small and medium-sized enterprises [2][5]. - The bank has developed differentiated financing solutions for key industries in Guangdong, including energy, construction, automotive, telecommunications, and home appliances, to enhance the industrial ecosystem [5][6]. Group 2: Support for Technological Innovation - The bank offers specialized financial products such as "Specialized and Innovative Loans" and "Co-Investment Loans" to support technology enterprises at various stages of development, ensuring comprehensive financial services throughout their lifecycle [6][7]. - By May 2025, the bank had served over 1,800 technology finance enterprises and more than 700 specialized and innovative enterprises, providing substantial financial support for technological innovation in Guangdong [6]. Group 3: Financing for Industrial Parks - The bank has implemented a comprehensive financial service model for industrial parks, addressing the financial needs of enterprises within these parks, with over 257 small and micro parks served and a total loan amount exceeding 29.5 billion [7]. - The introduction of a digital service system has improved access to financing for small and micro enterprises, with nearly 190 million in digital loans disbursed in 2024 [7]. Group 4: Globalization Support - The bank is addressing challenges faced by Guangdong enterprises in their global expansion, such as difficulties in overseas account opening and payment efficiency, by providing innovative cross-border services [8]. - By the end of 2024, the bank's international settlement and foreign exchange transaction volumes exceeded 35.3 billion and 23.3 billion, respectively, supporting the international development of Guangdong enterprises [8].

After learning to play on the WSOP app, Abernathy brings her professional poker journey back to where it all began.  HERZLIYA, Israel, June 26, 2025 /PRNewswire/ -- Playtika's World Series of Poker (WSOP) free-to-play app is doubling down on its partnership with professional poker player Samantha Abernathy. Returning as an ambassador, Abernathy's partnership with the WSOP app is kicking off with her custom in-game avatar joining players in the app. This collaboration builds on a previous partnership between ...

全球折叠屏手机市场上的多项关键性能记录，被 6 月 25 日发布的新一代旗舰折叠机 —— vivo X Fold5 打破。 图 1 ： 6 月 25 日， vivo X Fold5 新品全球首发 从产品硬实力上看， X Fold5 在硬件方面实现了 全球最轻（仅 217 g ）、最强续航大折叠（ 等效 6000mAh ）、超强三防性能的突破 ； 更关键的是， X Fold5 在软件和生态兼容方面的开创性亮点 ——不仅实现 安卓 手机首次跨生态 连接 Apple Watch ， 原子工作台 更是实现 一屏 5 用 。 这款 全新折叠 旗舰，用八大领域的领先优势给用户带来 "更轻、更强、更实用"的产品体验升级。 某种程度上， vivo 正在试图用它来给增速放缓的折叠屏手机市场注入新增长动力——给主流消费人 群入手折叠屏手机提供一个具备超强说服力的理由。 IDC 数据 显示 ， 2022 至 2024 年，中国折叠屏手机出货量分别为 330 万、 700.7 万和 917 万 台。 今年一季度国内折叠屏手机出货 284 万台，同比增长 53.1% 。增长速度从三位数降至两位 数，表明折叠屏手机作为一个"新物种"的超 ...

Core Viewpoint - Sea Limited is positioned as a potential growth opportunity in the e-commerce sector, similar to Amazon, with significant expansion in its financial services and gaming segments, suggesting a strong future performance for its stock. Group 1: Company Overview - Sea Limited operates Southeast Asia's leading e-commerce platform, Shopee, and is a global leader in mobile gaming and digital financial services [3][5]. - The company processed 3.1 billion orders worth $28.6 billion in Q1 2025 [5]. - Sea's stock has increased by over 102% in the past year, indicating strong market performance [3]. Group 2: Financial Performance - Sea generated $4.8 billion in total revenue in Q1 2025, a 29.6% increase year-over-year [11]. - Revenue breakdown for Q1 2025: E-commerce (Shopee) contributed $3.5 billion (28.3% growth), Digital Financial Services (Monee) contributed $787.1 million (57.6% growth), and Digital Entertainment (Garena) contributed $495.6 million (8.2% growth) [12]. - Monee's loan book reached $5.8 billion, a 76.5% increase from the previous year [7]. Group 3: Growth Potential - Monee is expected to significantly enhance Sea's profitability, generating nearly as much profit as Shopee with 77% less revenue [15]. - Sea's stock is currently valued at a price-to-sales (P/S) ratio of 5.3, down from over 30 in 2021, indicating improved valuation [16]. - Wall Street estimates suggest Sea's annual revenue could reach $25.3 billion by 2026, leading to a forward P/S ratio of 3.6 [17]. Group 4: Market Position and Valuation - If Sea's stock climbs 133% to reach its all-time high of $357.78 by the end of 2026, the P/S ratio would be around 8.4, still below its long-term average of 9.1, suggesting potential undervaluation [19]. - The increasing P/S ratio over the past year indicates that investors are willing to pay a higher valuation for Sea's strong operating performance [20].

Core Viewpoint - Carvana is experiencing a potential turnaround due to recent tariff changes making new cars more expensive, leading to increased demand for used cars, which the company is well-positioned to capitalize on [2][5][15] Group 1: Tariff Impact - A 25% tariff on imported vehicles has caused average new car prices to rise by 2.5% in April, with expectations of an additional 10% to 15% increase by summer [4][5] - The tariff situation has led to a rush of buyers locking in pre-tariff deals, tightening supply and pushing used car prices up, benefiting Carvana [5][4] Group 2: AI and Profitability - Carvana's AI-driven pricing system is making thousands of real-time pricing adjustments, contributing to a record quarterly net income of $373 million in Q1 2025, with total revenue increasing by 38% year over year and units sold rising by 46% [7][8] - The gross profit per unit reached an all-time high of over $6,900, indicating improved profitability per sale [8] Group 3: Competitive Advantage - Carvana's profit margin of 8.8% significantly exceeds CarMax's 1.5% margin, showcasing superior operational efficiency [10] - With Vroom exiting the online auto retail space, Carvana is now the only national online-only used auto retailer, allowing it to maintain lower costs compared to traditional dealerships [11] - The company has 40 car vending towers nationwide and a robust logistics network, enabling coast-to-coast scale without high overhead costs [12] Group 4: Future Growth Opportunities - Carvana's proprietary pricing software could potentially be licensed to other dealers, creating a new high-margin revenue stream [11] Group 5: Financial Considerations - Carvana's long-term liabilities stand at $5.7 billion, with cash on hand at $1.9 billion, indicating a significant debt load despite a 4.35% year-over-year reduction [13] - The company faces risks related to policy uncertainty, particularly if tariffs are reversed or retaliatory tariffs are imposed [14] Group 6: Investment Outlook - Year-to-date, Carvana shares have increased over 70% and are still trading below their all-time high, suggesting potential for further investment [16]