【环球时报驻德国特约记者 青木 环球时报记者 杨舒宇】德国正在摆脱数十年的财政保守主义，同时也点燃争议。德国《商报》30日报道称，德 国内阁周三批准了2026年创纪录的预算草案以及至2029年的中期财政计划，涉及巨额的基础设施和国防项目的投资支出和借款。德媒称，执政不 到三个月，由德国总理默茨和副总理兼财政部长克林贝尔领导的联邦政府就陷入了危险的债务困境。"支出增加、债务增加、利息支付增加，成为 政府预算的戏剧性三重奏。" 创纪录的投资和借贷 据德媒报道，内阁周三通过了财政部长克林贝尔提交的一份包含创纪录投资规模的预算草案。其中包括1267亿欧元投资（比2025年高出10%，比 2024年高出70%）和1743亿欧元借款，作为其基础设施和国防财政计划的一部分。内阁批准后，该预算将被提交至德国联邦议院，预计将于11月 底获得通过。这份"大胆"的提案连日来成为该国国内讨论的焦点。 德媒称，这种预算政策"令人震惊"。虽然未来几年的财政规划中存在一定的缺口是正常的，但即使在政府内部，这样的缺口也被描述为"非常 高"，弥补这一缺口被描述为一项"中央财政政策挑战"。 据报道，增加支出是政府重振低迷经济计划的一部分。该国是 ...

Market Overview - A-shares experienced a decline in the afternoon but rebounded around 2 PM, with the overall market showing mixed performance, where the Shanghai Composite Index outperformed the Shenzhen market [1] - The market sentiment is characterized by both optimism and caution, with micro-cap stocks showing signs of a bubble while large-cap stocks appear undervalued [1][12] - Despite the lack of systemic risks due to policy and liquidity support, there is a need to digest valuation pressures in the short term, and the current pullback can be seen as a buying opportunity [1][14] Index Performance - The Shanghai Composite Index slightly increased by 0.17% to 3615.72 points, while the ChiNext Index fell by 1.62% to 2367.68 points [3] - The trading volume showed a slight increase, with a total turnover of 1.87 trillion yuan, up from 1.83 trillion yuan the previous day [3] - A total of 3559 stocks declined, with 9 hitting the daily limit down, while 1713 stocks rose, with 55 hitting the daily limit up [3] Sector Performance - The steel sector rose by over 2%, with companies like Baogang Group and Xining Special Steel hitting the daily limit up [5][6] - The oil and petrochemical sector also saw gains of nearly 2%, while traditional cyclical sectors benefited from industry discipline and capacity optimization expectations [8][9] - Conversely, the electric equipment sector fell by over 2%, with CATL dropping more than 5% [7][8] Investment Strategy - Investors are advised to adopt a "defensive + buying on dips" strategy, avoiding high-flying stocks without earnings support and focusing on sectors with high earnings certainty [14][16] - The market is expected to maintain a volatile pattern in the coming weeks, with investors waiting for mid-year performance reports and policy details to be released [1][15] - There is a notable shift in funds from technology growth sectors to dividend-paying sectors, indicating a defensive investment approach [9][12] Future Outlook - The market is likely to continue its slow upward trend, with adjustments expected to be limited [9][14] - The core contradiction in the market is highlighted by the significant inflow of foreign capital, while domestic speculative sentiment appears to be retreating [12] - The focus for the second half of the year will revolve around the effects of "anti-involution" policies and global liquidity changes, with potential opportunities in growth stocks if the Federal Reserve begins to cut rates [16]

公司股票自2025年8月1日(星期五)被实施其他风险警示，股票简称由"中船应急"变更为"ST应急"；股票 代码不变，仍为"300527"；实施其他风险警示后，股票交易的日涨跌幅限制不变，仍为20%。 格隆汇7月30日丨中船应急（维权）(300527.SZ)公布，2025年7月30日，中国船舶重工集团应急预警与 救援装备股份有限公司及相关当事人收到中国证券监督管理委员会湖北监管局下发的《行政处罚事先告 知书》(鄂处罚字〔2025〕7号)，根据《深圳证券交易所创业板股票上市规则》第9.4条第(七)项规定， 公司股票将被实施其他风险警示，但不触及《深圳证券交易所创业板股票上市规则》第十章第五节规定 的重大违法强制退市的情形。 公司股票(证券简称：中船应急，证券代码：300527)及可转债(债券简称：应急转债，债券代码： 123048)自2025年7月31日(星期四)开市起停牌1天，将于2025年8月1日(星期五)开市起复牌。 ...

人民财讯7月30日电，中船应急(300527)7月30日晚间公告，7月30日，公司及相关当事人收到湖北证监 局下发的《行政处罚事先告知书》，根据规定，公司股票将被实施其他风险警示。公司股票及可转债自 7月31日开市起停牌1天，将于8月1日开市起复牌。公司股票自8月1日被实施其他风险警示，股票简称 由"中船应急"变更为"ST应急"；股票代码不变；实施其他风险警示后，股票交易的日涨跌幅限制不变， 仍为20%。 转自：证券时报 ...

Group 1 - The core viewpoint of the report emphasizes a three-dimensional policy system focusing on short-term stability, medium-term structural adjustment, and long-term breakthroughs, particularly in the context of the transition from the "14th Five-Year Plan" to the "15th Five-Year Plan" [2][18] - The report highlights the collaborative approach of fiscal and monetary policies, aiming to create a synergistic effect that enhances economic stability and supports domestic demand [10][18] - The governance of "involution" and optimization of production capacity is underscored, with a focus on regulating disorderly competition and promoting the exit of excess capacity in key industries [11][18] Group 2 - The report suggests monitoring export-oriented industries that may benefit from the reduction of tariffs by the U.S., particularly those with high export ratios such as home appliances and consumer electronics [21] - It identifies high-growth sectors that could thrive under precise policy support and global technological resonance, including domestic computing power and defense industries [21] - The report points to thematic opportunities arising from the "15th Five-Year Plan," indicating potential investment avenues aligned with national strategic goals [21]

当地时间7月30日，德国内阁通过了2026财年预算案。根据预算案，2026年，德国政府总预算为5205亿 欧元，比2025年增加3.5%。其中国防预算增至837亿欧元，与今年相比大幅增加32%。(央视新闻) ...

7月30日，大盘午后波动加剧，沪指冲高回落，创业板指全天弱势，收跌1.62%。国防军工板块短暂上 攻后单边回落，建设工业午后触及跌停，国防军工ETF（512810）一度下探2.44%，场内价格收跌1.29% 止步四连阳，振幅达3.3%。 值得关注的是，512810全天放量溢价，成交环比放量逾七成至1.33亿元，创近1个月新高，显示买盘资 金相对强势，或有大额资金逢跌介入。此前2日，512810连续获资金净申购超3500万元。 拉长时间来看，今年以来国防军工板块呈现震荡向上走势。尽管今日有所回调，但国防军工ETF （512810）盘初上扬时最高价达0.703元（前复权），已超越去年"924"行情高点（0.696元），创2022年 3月4日以来次高。 往后看，新时代国防军工行业具有更优的资产质量、更新的景气赛道、更大的 业务规模、更高的市场天花板，行业的估值体系或也将进行重塑，享受更新更高的溢价。 【投国防军工，选"512八一0"】 代码含"八一"的国防军工ETF（512810）：兼顾传统主战力量+新域新质力量，覆盖"商业航天 + 低空经 济 + 大飞机 + 深海科技 + 军用AI + 可控核聚变"等诸多热门题材 ...

Market Overview - On July 30, the A-share market showed mixed performance with the three major indices fluctuating. The total trading volume reached 1.87 trillion yuan, an increase of 41.7 billion yuan compared to the previous trading day, with over 3,500 stocks declining [1] - Market hotspots included sectors such as aquaculture, baby and child concepts, and dairy stocks, while sectors like digital currency, batteries, and cross-border payments saw declines [1] Stock Performance - A total of 48 stocks hit the daily limit up, with 12 stocks on consecutive limit up boards. The limit up rate was 72% (excluding ST and delisted stocks) [3] - Notable stocks included: - Tibet Tourism: 8 consecutive limit ups, closing at 25.64 yuan (+10.00%) [4] - Xining Special Steel: 8 limit ups in 7 days, closing at 4.20 yuan (+9.95%) [4] - Southern Road Machinery: 8 limit ups in 7 days, closing at 49.87 yuan (+9.99%) [4] - Happiness Blue Sea: 5 limit ups in 4 days, closing at 25.32 yuan (+20.00%) due to the release of the film "Nanjing Photo Studio" [4] Institutional Activity - The top three net buying stocks on the daily leaderboard were: - Yingweike: 5.74 billion yuan net buy, closing at 36.55 yuan (+9.99%) [6] - Baogang Co.: 3.74 billion yuan net buy, closing at 2.92 yuan (+10.19%) [6] - Xizang Tianlu: 2.18 billion yuan net buy, closing at 17.91 yuan (+3.95%) [6] - The top three net selling stocks were: - Construction Industry: 8.6 billion yuan net sell, closing at 38.81 yuan (-9.95%) [7] - Zhongyin Securities: 3.89 billion yuan net sell, closing at 16.11 yuan (-10.00%) [7] - Zhongtung High-tech: 3.53 billion yuan net sell, closing at 17.10 yuan (-10.00%) [7] Sector Insights - Yingweike is a provider of precision temperature control energy-saving solutions, with significant growth in liquid cooling technology for data centers expected in 2024 [9] - Baogang Co. confirmed a major contract for supplying rare earth alloy steel for a national key infrastructure project, enhancing its position in the market [9][11] - Xizang Tianlu focuses on engineering contracting and cement production, with a strong background in state-owned enterprises [12] Conclusion - The market exhibited a diverse range of performances across sectors, with notable activity in tourism, steel, and film-related stocks. Institutional buying and selling patterns indicate strategic movements in response to market conditions and company developments.

Summary of Key Points Core Viewpoint - The financial health and strategic decision-making of listed companies in the A-share market are significantly influenced by the capabilities of their Chief Financial Officers (CFOs), with a total compensation of 4.243 billion yuan for CFOs in 2024, averaging 760,300 yuan per CFO [1]. Industry Insights - In the defense and military industry, the total compensation for CFOs reached 83.1755 million yuan in 2024, with an average salary of 598,400 yuan [2][3]. - The educational background of CFOs in the defense industry shows that 53 hold master's degrees, 52 have bachelor's degrees, 10 have associate degrees, and 1 has a doctoral degree [3]. - The average age of CFOs in this sector is 47 years, with the oldest being 61 years old and the youngest at 33 years old [3]. Notable CFOs - The highest-paid CFO in the defense industry is Wu Mingxing from Guoketech, earning 1.7382 million yuan in 2024, an increase of 225,900 yuan from the previous year [3]. - The lowest-paid CFO is Liang Yanli from *ST Aowei, with a salary of 9,700 yuan due to a short tenure [4]. - The fastest revenue growth in 2024 was seen in LIGONG Navigation, with a revenue increase of 685.63% to 171 million yuan [5]. Performance Metrics - The revenue and net profit of Guoketech in 2024 were 961 million yuan and 175 million yuan, respectively, reflecting year-on-year growth of 36.93% and 36.18% [3]. - *ST Aowei reported a revenue of 291 million yuan and a net loss of 46 million yuan, with a revenue growth of 68.93% but a profit decline of 34.82% [4]. - LIGONG Navigation's net profit was -5 million yuan, showing a year-on-year increase of 79.9% [5]. Regulatory Actions - CFOs in the defense industry faced three administrative regulatory measures and one administrative penalty in 2024, highlighting the scrutiny they are under [7].

Summary of Key Points Core Viewpoint - The average salary of secretaries in A-share listed companies reached 754,300 yuan in 2024, with a total salary of 4.086 billion yuan for all secretaries [1]. Group 1: Salary Insights - The average salary for secretaries in the defense and military industry was 650,100 yuan in 2024 [2]. - Total salary for secretaries in the defense and military industry amounted to 92.3127 million yuan, with an average salary of 887,200 yuan [3]. - The highest-paid secretary was Hu Guangwen from Zhenhua Technology, earning 1.5231 million yuan, an increase of 374,900 yuan from the previous year [4]. Group 2: Educational Background and Salary Trends - 54.23% of secretaries hold a master's degree, while 40.14% have a bachelor's degree, 2.82% are PhDs, and 2.11% have an associate degree [4]. - 48.59% of listed companies reported a year-on-year increase in secretary salaries, while 48.59% reported a decrease [4]. Group 3: Performance and Salary Changes - The lowest-paid secretary was Zhu Qinghai from AVIC High-Tech, earning 120,900 yuan due to a short tenure [5]. - The highest salary increase (excluding new secretaries) was for Shen Juan from Aopu Optoelectronics, whose salary rose by 88.90% to 822,100 yuan [5]. - The largest salary decrease was for He Min from Aerospace Nanhu, whose salary fell by 33.59% to 425,000 yuan [6]. Group 4: Regulatory Actions - Since the beginning of 2025, secretaries in the defense and military industry have faced three administrative regulatory measures and one administrative penalty [7][8]. - The administrative penalty involved a warning and a fine of 3.3 million yuan for Li Zhenbing, the secretary of *ST Guandian, due to negligence in information disclosure [9].