Group 1 - The company held meetings on July 11, 2025, to approve the stock incentive plan and related proposals [1] - The company publicly disclosed the draft of the 2025 stock incentive plan and the list of proposed incentive recipients on July 12, 2025 [1][2] - The public notice period for the proposed incentive recipients lasted from July 12 to July 21, 2025, during which employees could raise objections [1][2] Group 2 - The supervisory board received no objections from employees regarding the proposed incentive recipients by the end of the public notice period [2] - The supervisory board verified the eligibility of the proposed recipients based on their identification documents, employment contracts, and positions held within the company [2][3] - The supervisory board concluded that all proposed recipients met the conditions set forth in relevant laws and regulations, as well as the company's internal policies [3]

Core Points - The employee stock ownership plan aims to enhance employee motivation, attract and retain talent, and align the interests of employees, shareholders, and the company for sustainable development [1][6] - The plan is based on voluntary participation, with strict adherence to legal regulations and transparency in information disclosure [2][3] - The total funding for the plan is capped at 10 million yuan, with individual shares priced at 1 yuan, allowing for a maximum of 10 million shares to be issued [4][5] - Key participants include 9 executives holding 2.96 million shares (29.6%) and up to 66 other employees holding 7.04 million shares (70.4%) [5] - The plan will utilize shares repurchased by the company, with a maximum of 551,300 shares, representing 0.23% of the total share capital [7][8] - The stock purchase price is set at 18.14 yuan per share, ensuring it is above the par value and in line with market conditions [8][9] Group 1: Objectives and Principles - The plan aims to establish a long-term incentive mechanism to boost employee engagement and company performance [1] - It seeks to improve corporate governance and align the interests of all stakeholders [1] - Participation is voluntary, and employees bear their own investment risks [2] Group 2: Participation and Funding - Eligible participants include company directors, supervisors, senior management, and other key employees [2][4] - The total funding for the plan is sourced entirely from employees' own funds, amounting to 10 million yuan [6][7] - The plan allows for adjustments in participant numbers and share allocations based on actual contributions [4][5] Group 3: Management and Governance - The plan will be managed by a committee elected by the participants, ensuring representation and oversight [19][20] - The management committee is responsible for daily operations and safeguarding the interests of participants [20][21] - Regular meetings will be held to discuss and vote on key decisions related to the plan [15][16] Group 4: Performance Metrics and Unlocking Conditions - Performance metrics for unlocking shares are based on company revenue growth, particularly in AI products and services, with specific targets set for 2025, 2026, and 2027 [11][12] - Individual performance assessments will also influence the unlocking of shares, ensuring alignment with company goals [13] Group 5: Termination and Changes - The plan can be modified or terminated with the approval of a two-thirds majority of participants [30][31] - In cases of significant corporate events or regulatory changes, the plan's terms may be adjusted accordingly [30]

Core Viewpoint - Germany has shifted from a conciliatory approach to a more aggressive stance in trade negotiations with the U.S., driven by significant economic pressures and frustrations over U.S. tariffs [1][2][4] Group 1: Germany's Response to U.S. Tariffs - Germany previously adopted a submissive attitude towards U.S. trade demands, exemplified by Chancellor Merkel's conciliatory visit to Washington in 2017 [2] - The automotive industry, crucial to Germany's economy, is particularly affected by U.S. tariffs, with potential losses amounting to hundreds of millions of euros if tariffs increase [4][7] - German officials expressed frustration over the U.S. refusal to negotiate on automotive tariffs, indicating a turning point in their approach [4][5] Group 2: U.S. Trade Strategy - Trump's "maximum pressure" strategy has been applied to various countries, including China and Canada, but has backfired with the EU, particularly Germany [4][5] - The U.S. believes that the EU is dependent on the American market, but this overlooks the reciprocal trade relationship where the U.S. also relies heavily on European imports [5][6] Group 3: EU's Countermeasures - The EU is prepared to implement its "counter-coercion toolbox," which includes potential tariffs on U.S. digital services and restrictions on U.S. companies in public procurement [6] - The EU has a list of retaliatory tariffs valued at $100 billion targeting key U.S. exports, which could significantly impact American farmers and manufacturers [6][7] Group 4: Implications of the Trade Conflict - The trade conflict could lead to significant economic repercussions for both sides, with daily trade valued at €4.6 billion, affecting global supply chains [7][9] - The shift in Germany's stance reflects a broader realization that allies should not be treated as mere economic tools, signaling a potential change in future EU-U.S. relations [8][9] Group 5: Conclusion on Trade Dynamics - The ongoing trade war is characterized as a game of endurance, with both sides potentially suffering economic losses if the conflict escalates [9] - The situation underscores the importance of cooperative trade relations, as both parties risk significant economic fallout from continued hostilities [9]

汉桑（南京）科技股份有限公司 联席主承销商：中邮证券有限责任公司 汉桑（南京）科技股份有限公司（以下简称"发行人"）首次公开发行股票 （以下简称"本次发行"）并在创业板上市的申请已经深圳证券交易所创业板上 市委员会审议通过，并已获中国证券监督管理委员会（以下简称"中国证监会"） 同意注册（证监许可〔2025〕644号）。中国国际金融股份有限公司（以下简称"中 金公司"或"保荐人（联席主承销商）"）担任本次发行的保荐人（联席主承销商）， 中邮证券有限责任公司（以下简称"中邮证券"）担任本次发行的联席主承销商 （中金公司和中邮证券以下合称"联席主承销商"）。 本次发行采用向参与战略配售的投资者定向配售（以下简称"战略配售"）、 网下向符合条件的投资者询价配售（以下简称"网下发行"）和网上向持有深圳 市场非限售A股股份和非限售存托凭证市值的社会公众投资者定价发行（以下简 称"网上发行"）相结合的方式进行。 本次公开发行股票数量为3,225.0000万股，约占本次发行后总股本的25.00%， 全部为公开发行新股，公司股东不进行公开发售股份。本次发行后公司总股本为 本次发行的初始战略配售的发行数量为645.0000万股 ...

Group 1 - As of the end of Q2 2025, the total balance of RMB loans from financial institutions reached 268.56 trillion yuan, with a year-on-year growth of 7.1%, and an increase of 12.92 trillion yuan in the first half of the year [2] - The balance of real estate loans at the end of Q2 2025 was 53.33 trillion yuan, showing a year-on-year growth of 0.4%, with an increase of 416.6 billion yuan in the first half of the year [2] - The balance of personal housing loans was 37.74 trillion yuan, a slight year-on-year decline of 0.1%, but with an increase of 51 billion yuan in the first half of the year [2] Group 2 - The number of technology-based small and medium-sized enterprises receiving loan support reached 274,000, with a loan acquisition rate of 50%, an increase of 3.2 percentage points compared to the same period last year [3] - The balance of loans for technology-based small and medium-sized enterprises was 3.46 trillion yuan, with a year-on-year growth of 22.9%, outpacing the growth of all loans by 16.1 percentage points [3] - The number of high-tech enterprises receiving loan support was 266,800, with a loan acquisition rate of 57.6%, an increase of 1 percentage point compared to the same period last year [3]

报道称，这已经触及欧盟的承受底线，此前一直主张协商的德国立场也转向鹰派。欧盟将于本周开启内 部会谈，商议对美国开启"报复性关税"。 欧盟被触及底线，将商议对美国开启"报复性关税" 当地时间7月20日，《华尔街日报》援引美国官员的话称，特朗普将要求欧盟作出进一步让步以达成协 议，或对大多数欧洲商品征收大于或等于15%的基线关税。 最新转变 所谓基线关税，是指在特定贸易安排（如自由贸易协定、区域贸易协定等）中作为起始点或参照点的关 税水平。 基线关税的消息无疑将进一步刺激到欧盟。此前，欧盟与美国谈判的目标是争取多数商品维持10%的关 税率，这对大多数欧盟国家来说已是艰难让步。 长期以来，法国等欧盟国家一直敦促欧盟对美国采取更强硬的立场，而德国则鼓励欧盟寻求与特朗普达 成协议。而最新事态甚至促使德国转变立场，一位了解情况的官员透露，这一转变"促使柏林打开了报 复之门"。 德国是欧洲最大的经济体和最大的出口国。德国方面表示，将启用带有法律性质的反胁迫工具——反胁 迫文书（ACI）对抗贸易战，该文书赋予欧盟官员对美国科技公司征收新关税、限制美国在欧洲投资、 限制美国公司竞标公共合同等权力。德国此前从未启用过该工具。 欧 ...

Group 1 - The article highlights a transformation in property services led by intelligent robots, including drones for facade cleaning and autonomous cleaning vehicles for ground maintenance [4] - Drones are reported to be three times more efficient than human workers for facade cleaning, with a cost reduction of approximately 20%, and plans for expansion to nearly 1 million square meters of office buildings [4] - The use of drone technology for building inspections in old residential areas has shown a 90% accuracy rate in detecting issues like hollow walls and leaks, significantly improving maintenance processes [5] Group 2 - The "Big Black" cleaning robot can cover 6,500 square meters per hour and replace two cleaning staff, saving nearly 10,000 yuan in labor costs monthly [5] - The West Lake District is promoting the integration of AI and robotics in property services to enhance digital service levels and improve efficiency [5] - The collaboration between property companies and technology firms is encouraged to explore applications of AI and robotics in the community service sector [5]

来源：光明网-《光明日报》 【一线讲述】 做"科技红娘"，要懂"三种语言" 讲述人：青岛市工业技术研究院创业服务部部长 段继文 光明日报记者刘艳杰、光明日报通讯员肖玲玲采访整理 我是一名技术经纪人，工作中，有人形象地称我们为"科技红娘"。 为什么叫"科技红娘"呢？那是因为在科技成果转化工作中，最难的一环其实是科研工作者与企业家之间 的交流与沟通。科研工作者习惯用数据和参数来说明问题，但企业家们听不明白；企业家则喜欢讨论产 出比、成本效益等指标，这些恰恰又是科研工作者的"盲区"。他们中间需要一个沟通交流的"翻译"、一 个促进合作的"红娘"，技术经纪人就这样应需而生。 青岛是全国较早启动技术经纪人培训工作的城市，目前已培养2200余人，我就是其中的一员。在我看 来，作为一名技术经纪人，必须得是"杂家"，要懂技术、产业、资本、市场、招商与培育，能链接各类 资源，具备这些能力，才能通过专业服务促进科技成果转化。 我自2010年开始从事科技孵化工作，目前已经参与引进百余家高科技企业。去年底，我荣获了青岛 市"科技星探"荣誉称号，这主要得益于青岛农业大学杨建明教授团队"微生物光合固碳产能项目"的成功 转化。 2024年5 ...

Group 1 - Major tech companies, including Alphabet and Tesla, are set to release their earnings reports this week, which will be closely watched by investors [1] - The Nasdaq and S&P 500 indices reached new highs, with the Nasdaq gaining 78.51 points (0.38%) to close at 20,974.17 points, and the S&P 500 up 8.81 points (0.14%) to 6,305.60 points [2][3] - The S&P 500 saw seven sectors rise and four decline, with the communication services and consumer discretionary sectors leading gains at 1.90% and 0.60%, respectively [3] Group 2 - Nvidia's stock fell by 0.6%, with CEO Jensen Huang selling over 1.4 million shares in the past month, including a recent sale of 75,000 shares worth approximately $12.94 million [4] - Amazon's stock rose by 1.40%, with analysts expecting Q2 earnings per share of $1.32 and revenue of $162 billion, representing year-over-year growth of 4% and 9% [4] - Tesla's upcoming earnings report is anticipated to provide significant insights into the electric vehicle industry and the company's future direction [4] Group 3 - Fitch Ratings downgraded the outlook for 25% of U.S. industries to "deteriorating," citing increased uncertainty, slowing economic growth, and expectations of prolonged high interest rates [6][7] - The recent tax and spending legislation highlights long-term challenges for U.S. fiscal prospects, potentially keeping the government deficit above 7% of GDP [7] - Fitch predicts that by 2025, the default rates for U.S. high-yield bonds and leveraged loans will rise to 4.0%-4.5% and 5.5%-6.0%, respectively [8]

Key Points - The article discusses various important news and updates related to the investment landscape, including new regulations, market performance, and company announcements. Group 1: Regulatory Updates - The "Housing Rental Regulations" were published, effective from September 15, 2025, aiming to standardize rental activities and enhance supervision of rental enterprises and agencies [3] - The "Cross-Border Asset Management Pilot Business Implementation Rules" set an initial total scale limit of 10 billion RMB for cross-border asset management products, which can be adjusted dynamically based on market conditions [3] Group 2: Market Performance - In June, the total electricity consumption reached 8,670 billion kWh, a year-on-year increase of 5.4%, with significant growth in residential electricity consumption at 10.8% [4] - Hong Kong's IPO market has seen 52 IPOs this year, a 30% increase year-on-year, raising a total of 124 billion HKD, up 590% [4] Group 3: Company Announcements - Dalian Shengya is planning to issue shares to specific investors, which may lead to a change in company control, and will be suspended from trading starting July 22 [7] - Hai Tian Rui Sheng expects a net profit increase of 607.01% to 960.52 million RMB for the first half of the year [8] - Gongde Infrared signed contracts worth 685 million RMB for overseas market orders [8] - Anning Co. plans to acquire 100% equity in three companies for 6.508 billion RMB [8] Group 4: Industry Insights - Guotai Junan highlights that the mechanical industry will face both opportunities and challenges in 2025, with domestic excavator sales expected to continue recovering [8] - Zhongtai Securities remains optimistic about the banking sector's stability and sustainability, projecting a slight recovery in net interest income and overall profitability [9]