Market Performance - The three major U.S. stock indices closed mixed, with the Dow Jones down 0.22%, the S&P 500 up 0.01%, and the Nasdaq up 0.32% [1] - Major tech stocks mostly rose, with Amazon, Meta, and Tesla increasing by less than 1%, Nvidia rising over 3%, and Broadcom up over 1% [1] - Popular Chinese concept stocks mostly increased, with NIO up over 6%, Alibaba, Xpeng Motors, and Kingsoft up over 3%, and JD.com up over 2% [1] European Market - All three major European stock indices closed higher, with the German DAX index up 0.77% at 24276.48 points, reaching a historical high, the French CAC40 index up 0.53% at 7804.67 points, and the UK FTSE 100 index up 0.16% at 8801.29 points [1] Commodity Prices - International oil prices weakened, with the main U.S. oil contract down 1.06% at $62.74 per barrel and the main Brent crude contract down 1.19% at $64.85 per barrel [1] - International precious metal futures generally rose, with COMEX gold futures up 0.60% at $3397.40 per ounce and COMEX silver futures up 0.06% at $34.66 per ounce [1] Currency and Bond Market - The U.S. dollar index fell by 0.47% to 98.81, while the offshore RMB against the U.S. dollar closed up 207 basis points at 7.1717 [1] - U.S. Treasury yields collectively fell, with the 2-year yield down 8.25 basis points at 3.862%, the 3-year yield down 8.51 basis points at 3.826%, the 5-year yield down 9.75 basis points at 3.923%, the 10-year yield down 9.85 basis points at 4.355%, and the 30-year yield down 10.76 basis points at 4.877% [1] - European bond yields were mixed, with the UK 10-year yield down 3.1 basis points at 4.604%, the French 10-year yield up 1.3 basis points at 3.200%, the German 10-year yield up 0.1 basis points at 2.524%, the Italian 10-year yield down 0.3 basis points at 3.489%, and the Spanish 10-year yield up 1 basis point at 3.115% [1]

1、现货市场：钦州中粮进口三级菜油 9300 元/吨，较上一交易日跌 70 元/吨。 2、市场分析：供应方面，端午节后，国产菜籽即将陆续上市。后市，近月进口菜籽到港供 应较为充裕，远月进口菜籽到港暂较为偏紧。菜油下游需求中性。库存端，菜油库存中短 期或维持高位。 3、参考观点：菜油 2509 合约，短线于或平台区间内震荡整理。 现货信息：43 豆粕各地区节前现货报价：张家港 2800 元/吨（-70）、天津 2870 元/吨（-70）、 日照 2810 元/吨（-60）、东莞 2800 元/吨（-60）。 市场分析：（1）宏观面: 中美贸易达成阶段性协议，但长期矛盾仍存。 （2）国际大豆：关税政策和天气为价格主要驱动因素。美豆播种顺利，巴西大豆出口高峰 期。 （3）国内豆粕供需面：大豆供给逐渐恢复，油厂开机率和压榨恢复正常，豆粕供给压力逐 渐凸显。豆粕成交缩量，下游采购意愿偏弱，随着下游企业安全库存建立，下游贸易商维 持随用随采、滚动补库为主。油厂大豆库存回升至高位，豆粕库存累库速度短期较缓。 参考观点：豆粕短线或震荡偏弱。 现货信息：东北三省及内蒙重点深加工企业新玉米主流收购均价 2204 元/吨；华北黄淮 ...

以下文章来源于每日人物 ，作者每人作者 每日人物 . 轻商业，懂生活。 县城职场困境背后是更深的企业转型难题。 文 ｜ 康提 编辑 ｜ 张轻松 来源｜ 每日人物（ID：meirirenwu） 封面来源 ｜ 视觉中国 县城来了大厂专家后，打工人被卡在OA里，每次提财务申请都相当于渡劫，报销7毛钱折腾半个月……从深圳回老家，在县城豪华酒店工作的康提，在过去 一年多，遭遇了最复杂的职场体验：刚适应了县城的人情江湖，又迎来势要把一线先进经验播撒到基层盐碱地的大厂高管。 每任高管都不掩饰自己的雄心，先是系统化、流程化作业，设置各类审批流程，所有节点可追踪可溯源；又是改造人才晋升培养体系，有管理职级一路向上 的M级和专业能力不断资深的P级，要化绩效考核为生产力；互联网黑话，文山会海，搅弄职场风云…… 流水的外聘专家，铁打的打工人。人一走，留下烂摊子一堆。老板仍坚信"科技赋能，企业正经历数字化转型"，而打工人叫苦不迭："为什么高管们来了以 后，咱们公司挣的钱没有变多，我们反而更累了？" 以下是康提的讲述： 县城职场越来越卷了 四年前我刚从深圳回来时，还是我们厂后台唯二的两个本科生之一，那时公司正和市里某二本学院合作"在职学 ...

Core Viewpoint - Sun Guangxin, the richest man in Xinjiang, has seen his wealth shrink from 470 billion yuan in 2019 to 290 billion yuan in 2025, facing significant challenges in his business empire, Guanghui Group [1][4][6]. Group 1: Wealth Status - Sun Guangxin ranks as the richest man in Xinjiang with a wealth of 290 billion yuan, placing him 918th globally on the 2025 Hurun Global Rich List [5][6]. - His wealth has decreased by 90 billion yuan over the past two years and by 180 billion yuan compared to his peak in 2019 [6][4]. - The competition in Xinjiang has intensified, with the Mi Enhua family of Hualing Industrial Group now matching Sun's wealth [5][6]. Group 2: Business Empire - Guanghui Group, founded by Sun Guangxin, has diversified into various sectors including energy, logistics, real estate, and automotive services [13][19]. - The group has been recognized as one of the top 500 companies in China for over 20 years and has been included in the Global 500 for seven consecutive years from 2017 to 2023 [13]. - As of 2023, Guanghui Group reported total assets of 2,471.93 billion yuan and revenue of 2,146.03 billion yuan, contributing nearly 10 billion yuan in taxes [13]. Group 3: Financial Challenges - Guanghui Energy, a core asset of Guanghui Group, reported a significant decline in revenue and net profit in 2024, with revenue dropping 40.72% to 364.41 billion yuan and net profit down 42.6% to 29.61 billion yuan [15]. - ST Guangwu, another subsidiary, also faced a revenue decline of 24.23% and a net profit drop of 12.76% in the previous year [16]. - Guanghui Baoxin, listed in Hong Kong, has a market value of only 2.44 billion HKD, with a reported revenue decline of 18.7% and a net profit loss of 119.45% [17][18]. Group 4: Personal Background and Business Journey - Sun Guangxin started his career with a mere 3,000 yuan after leaving the military and quickly made a name for himself in the machinery sales business [10][11]. - He expanded into various sectors, including the restaurant industry and oil trade, achieving significant sales milestones early in his career [12]. - By the late 1990s, he ventured into real estate and automotive services, establishing Guanghui Group as a major player in these industries [12][13]. Group 5: Current Issues and Future Outlook - Guanghui Group is currently facing multiple crises, including financial difficulties and legal issues, with significant amounts owed in execution cases [20]. - The company is under pressure to navigate these challenges while maintaining its position in the market, raising questions about its future direction [20].

截至收盘，道琼斯工业指数涨0.13%，报42270.07点；纳斯达克指数跌0.32%，报19113.77点；标普500指数跌0.01%，报5911.69点。本周，道琼斯工 业指数涨1.6%，标普500指数涨1.88%，纳斯达克指数涨2.01%。5月份，道琼斯工业指数涨3.94%，标普500指数涨6.15%，纳斯达克指数涨9.56%。 当地时间周五（5月30日），由于贸易不确定性持续存在，美股盘中持续震荡走低，但随后收复了部分失地。 | 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 | 年初至今 | | --- | --- | --- | --- | --- | --- | | DJI | 道琼斯工业指数 | 42270.07 | 54.34 | 0.13% | -0.64% | | IXIC | 纳斯达克指数 | 19113.77 | -62.10 | -0.32% | -1.02% | | SPX | 标普500 | 5911.69 | -0.48 | -0.01% | 0.51% | 欧洲主要股指收盘涨跌互现，德国DAX指数涨0.27%，报23997.48点；法国CAC40指数跌0.36%，报7751. ...

Report Industry Investment Rating - The overall rating for commodities and stock index futures is neutral, waiting for fundamental verification; gold is recommended for long - term allocation on dips [4] Core Viewpoints - The market should focus on economic fact verification. In April, domestic economic data was mixed, with short - term export support, weakening investment, rising fiscal revenues and expenditures, and slightly pressured consumption. Attention should be paid to the possibility of further fiscal expansion. The RMB is expected to be more stable. The market should also focus on whether there will be a new round of "rush to export" after the tariff negotiations [1] - The downgrade of the US sovereign rating and the expectation of fiscal expansion have led to a continuous rise in long - term US Treasury yields, and potential liquidity risks should be noted. The US Treasury has reduced the issuance of short - term Treasury bonds. US - EU trade negotiations have complex progress. The economic data of the US and the eurozone show different trends [2] - For commodities, attention should be paid to the transmission of fundamentals in the short - term and stagflation allocation in the long - term. Different commodities have different responses to tariffs, and the supply of crude oil is expected to be relatively loose in the medium - term [3] Summary by Related Catalogs Market Analysis - In April, domestic exports were slightly better than expected, with obvious re - export support and eased Sino - US tariffs. Investment data weakened, especially in the real estate sector. Fiscal revenues and expenditures increased, supported by land transfer fees, and consumption was slightly pressured. The PBOC will conduct a 500 billion yuan MLF operation on May 23. The Sino - US Geneva economic and trade talks made substantial progress, and the RMB is expected to be more stable. The market should pay attention to whether there will be a new round of "rush to export" after the tariff negotiations [1] US and Global Economic Situation - Moody's downgraded the US sovereign rating, and the US debt expectation is rising. The Fed may adjust the interest - rate setting framework, and the first interest - rate cut expectation is postponed to September. The US Treasury has reduced the issuance of four - week and eight - week Treasury bonds. US - EU trade negotiations have complex progress. Japan's overseas net assets reached a record high but lost the position of the world's largest creditor nation. The eurozone's economic data weakened, while the US economic data improved [2] Commodity Market - From the 2018 tariff review, different commodities have different responses to tariffs. For industrial products, beware of the emotional impact from the US stock market adjustment. For agricultural products, the probability of price increase due to tariffs is higher. The supply of crude oil is expected to be relatively loose in the medium - term, and OPEC+ will hold meetings to discuss production quotas [3] Strategy - The overall rating for commodities and stock index futures is neutral, waiting for fundamental verification; gold is recommended for long - term allocation on dips [4] Important News - China may relax rare - earth export controls on European chip companies. The US Treasury has reduced the issuance of short - term Treasury bonds. Trump praised the EU's progress in trade negotiations. Japan's Nippon Steel plans to acquire US Steel. Japan proposed to buy billions of dollars of US semiconductor products. Japan's 40 - year Treasury bond auction had a low bid - to - cover ratio, and bond yields rose. OPEC+ will hold meetings to discuss production quotas [5]

Group 1 - The Hong Kong IPO market shows a significant recovery in profitability, with only 7 out of 27 companies experiencing a first-day drop, resulting in a break rate of 25.93%, the lowest since 2017 [1] - Notable performances include Yimeng Biotech and Mixue Group, which saw first-day increases of 116.7% and 43.21% respectively [1] - The overall low valuation in Hong Kong is attracting overseas capital, supported by Chinese policies promoting innovation and capital market development [1] Group 2 - The enterprise-grade SSD market in China is projected to reach $6.25 billion in 2024, reflecting a year-on-year growth of 187.9% [2] - Solidigm and Samsung hold the largest market shares, with Samsung facing domestic competition and cost pressures [2] - The demand for SSDs is driven by increased investments in AI by cloud computing and internet companies, as well as the modernization of digital infrastructure [2] Group 3 - In Sichuan, over 810,000 units of home appliances and digital products have been replaced under the old-for-new policy, generating a consumption boost of 25.4 billion yuan [3] - Air conditioners are the most popular items in the replacement program, accounting for 40.42% of total sales [3] - The policy is effectively stimulating market demand and promoting local production capacity expansion [3] Group 4 - ByteDance plans to ban third-party AI development software to mitigate data leak risks, replacing it with its in-house tool Trae [4] - The FTC's antitrust case against Meta has concluded, with a ruling expected within four months that could lead to the divestiture of Instagram and WhatsApp [4] Group 5 - ExxonMobil is in exclusive negotiations to sell its majority stake in its French subsidiary Esso to North Atlantic, with a sale price of €149.19 per share [5] - The sale is expected to be completed in the last quarter of this year [5] Group 6 - Dajiang is reportedly entering the robotic vacuum market, with its first product expected to launch in June [6] - Longfeng Pharmaceutical's IPO application has expired after six months without progress [6] Group 7 - Diguang Robot has completed a $100 million Series A financing round, attracting investment from several prominent institutions [7] - China Energy Construction has won a significant coal-fired power project worth approximately 14.586 billion yuan [7] Group 8 - Taiji Industry plans to repurchase shares worth between 1 billion and 1.2 billion yuan, with a maximum repurchase price of 10.38 yuan per share [8] Group 9 - Dalian Electric Porcelain is a recommended candidate for a 290 million yuan project with the State Grid, which would account for 19.38% of its 2024 revenue [9] Group 10 - Fuda Co. is set to invest in a new precision gear project for electric drive systems in new energy vehicles, with plans to use self-funding and financing [10] Group 11 - The Shanghai Composite Index experienced slight fluctuations, with new consumption stocks performing well despite overall market declines [11] - Beverage manufacturing and nuclear power stocks saw significant gains, while pharmaceutical stocks faced corrections [11]

美股三大股指全线收涨 当地时间5月27日（周二），美国股市三大股指全线收涨，其中道琼斯工业指数涨1.78%，报42343.65点，标准普尔500指数涨 2.05%，报5921.54点，纳斯达克综合指数涨2.47%，报19199.16点。 隔夜欧美股市大涨。 当地时间5月27日（周二），美国股市三大指数全线收涨，其中道指涨超700点；纳指大涨2.47%，收复19000点整数关口。特 斯拉大涨近7%，5月以来特斯拉股价已经累计大涨近三成。 中概股方面，纳斯达克中国金龙指数收跌0.28%，拼多多收盘重挫逾13%，领跌中概股。 欧股主要指数收涨，英国富时100指数涨0.69%，德国DAX指数涨0.83%，意大利富时MIB指数涨0.34%，欧洲斯托克50指数涨 0.37%；法国CAC40指数微跌0.02%。 | 代码 | 名称 | 现价 | 涨跌 | 涨跌幅 | | --- | --- | --- | --- | --- | | DJI | 道琼斯工业指数 | 42343.65c | 740.58 | 1.78% | | IXIC | 纳斯达克指数 | 19199.16c | 461.95 | 2.47% | | SP ...

雷达财经出品 文|孟帅 编|深海 在不久前公布的《2025胡润全球富豪榜》中，孙广信凭借290亿元财富再度问鼎新疆首富（以居住地为标准）之位。 然而，相比2019年巅峰时刻的470亿元，常年稳坐新疆首富宝座的孙广信身家已缩水180亿元，且今年他在新疆富豪中的财富规模已被华凌工贸的米恩华家 族追平。 回溯过去，高考失利投身军营的孙广信以3000元转业费起步，靠着10个月卖出103台推土机掘得第一桶金。此后，他在餐饮、石油、地产、汽车经销等领 域纵横捭阖，逐步将广汇集团打造成为实力雄厚的大型企业。 不过，曾缔造诸多商业神话的孙广信，如今面临不少挑战。比如，身为广汇集团旗下核心资产的广汇能源去年业绩承压，2025年一季度仍未好转；因财务 造假，ST广物去年被罚，且业绩持续低迷。 与此同时，市值仅2.44亿港元的广汇宝信，去年年报缓发；合金投资的业绩尚未形成足够的体量，难挑大梁。而集团旗下身为国内最大汽车经销商的广汇 汽车，也在去年黯然退市，且控股权难保。 此外，天眼查显示，作为CBA新疆广汇篮球俱乐部的幕后股东，孙广信掌舵的新疆广汇房地产开发有限公司、广汇集团当前还背负执行人信息。重重危 机下，被外界唤作"西北孙老 ...

Report Summary 1. Report Industry Investment Ratings No industry investment ratings were provided in the reports. 2. Core Views - **Soybean Oil (2509 Contract)**: Short - term may fluctuate and consolidate [1] - **Soybean Meal**: Short - term may fluctuate with a slight upward trend [2] - **Corn**: After a short - term price drop, there is a demand for a rebound; adopt a band - trading strategy [3] - **Copper**: The copper price has not completely shaken off the influence of the moving average; set the upper limit of the moving average system as the overall defense line [4] - **Lithium Carbonate (2507 Contract)**: May fluctuate weakly; consider shorting on rallies [6][7] - **Rebar**: The black negative feedback is gradually reflected in the price; adopt a strategy of buying on dips at low levels [8] - **Coking Coal and Coke**: Supply is abundant; prices may fluctuate weakly at low levels [9] - **Iron Ore (2509)**: Short - term may fluctuate weakly; traders are advised to be cautious [10] - **Crude Oil (WTI Main Contract)**: May fluctuate between $55 and $65 per barrel [11] - **Rubber**: Overall supply exceeds demand; pay attention to the correction market under the pressure level [12][13] - **PVC**: The fundamentals remain weak; the futures price may fluctuate at low levels [14] - **Soda Ash**: The futures price is expected to continue to fluctuate widely in the short term [15] 3. Summaries by Commodity Soybean Oil - **Spot Market**: The price of first - grade soybean oil in Zhangjiagang Yijiang is 8,270 yuan/ton, up 10 yuan/ton from the previous trading day [1] - **International Soybeans**: It is the sowing and growing season for US soybeans and the harvesting and exporting season for South American soybeans. The South American new crop is likely to have a bumper harvest. The USDA May report shows that the estimated soybean yield per acre in the 2025/26 season is 52.5 bushels, compared with 50.7 bushels in the 2024/25 season [1] - **Domestic Industry**: The medium - term de - stocking cycle of soybean oil may be coming to an end. Pay attention to the potential increase in soybean oil inventory after the arrival of South American imported soybeans and customs clearance [1] Soybean Meal - **Spot Information**: The spot prices of 43% soybean meal in different regions are: Zhangjiagang 2,880 yuan/ton (up 20), Tianjin 2,970 yuan/ton (up 20), Rizhao 2,920 yuan/ton (up 40), and Dongguan 2,920 yuan/ton (up 20) [2] - **Market Analysis**: The Sino - US trade has reached a phased agreement, but long - term contradictions remain. The price of US soybeans has risen due to weather speculation caused by rainfall in the production areas. The supply of soybeans is gradually recovering, the oil refinery operating rate is increasing, and the supply of soybean meal is expected to change from tight to loose. Downstream enterprises will adopt a just - in - time procurement and rolling replenishment strategy [2] Corn - **Spot Information**: The mainstream purchase prices of new corn in different regions are provided, such as 2,195 yuan/ton in key deep - processing enterprises in the three northeastern provinces and Inner Mongolia, and 2,414 yuan/ton in key enterprises in North China and the Huang - Huai region [3] - **Market Analysis**: From the external market, there is an expectation of looser corn imports in the medium - to - long - term due to the Sino - US joint statement, but the negative impact on the domestic futures price is relatively limited. The May USDA report has raised the US production and ending inventory, which is negative for the US corn futures price. Domestically, the supply pressure has eased, but the downstream demand is weak [3] Copper - **Spot Information**: The price of Shanghai 1 electrolytic copper is 77,930 - 78,140 yuan, down 50. The import copper ore index is - 44.28, down 1.23 [4] - **Market Analysis**: The global tariff confrontation is gradually easing, which is beneficial to the commodity market. Domestic policies are supportive, but raw material supply issues persist, and the copper market is in a complex state of game between reality and expectation, and between the domestic and foreign markets [4] Lithium Carbonate - **Spot Information**: The market price of battery - grade lithium carbonate (99.5%) is 63,000 yuan/ton, and that of industrial - grade lithium carbonate (99.2%) is 60,850 yuan/ton, with a price difference of 2,150 yuan/ton, both remaining unchanged from the previous trading day [5] - **Market Analysis**: The cost of lithium carbonate production has decreased, but the profit margin has not expanded due to the rapid decline in lithium salt prices. The supply is high, and the demand improvement is insufficient. The inventory is accumulating [6] Rebar - **Spot Information**: The price of Shanghai rebar is 3,170. The Tangshan operating rate is 83.56%. The social inventory is 532.76 million tons, and the rebar mill inventory is 200.4 million tons [8] - **Market Analysis**: The fundamentals of steel are gradually improving. The cost of steel is dynamically changing, and the inventory is decreasing. The short - term market is dominated by macro - policy expectations, showing a pattern of strong supply and demand [8] Coking Coal and Coke - **Spot Information**: The price of main coking coal (Meng 5) is 1,205 yuan/ton, and the price of quasi - first - grade metallurgical coke at Rizhao Port is 1,340 yuan/ton. The port inventory of imported coking coal is 337.38 million tons, and the port inventory of coke is 246.10 million tons [9] - **Market Analysis**: The supply is abundant, the demand is weak, the inventory is slightly increasing, and the profit is approaching the break - even point [9] Iron Ore - **Spot Information**: The Iron Ore Price Index (Platts) is 99.7. The price of Qingdao PB (61.5%) powder is 757, and the price of Australian iron ore fines (62% Fe) is 759 [10] - **Market Analysis**: The supply and demand factors are mixed. The global shipment volume has decreased slightly, the port inventory has decreased, the domestic demand has increased slightly but the procurement is still cautious, and the overseas demand is differentiated. The US tariff policy has increased price volatility [10] Crude Oil - **Market Analysis**: The resurgence of twists in the US - Iran negotiation has boosted oil prices, but the overall oil price is still fluctuating. In the medium - to - long - term, the supply is expected to exceed demand, and the price center may move down, but there is technical support at $55 per barrel for the WTI main contract [11] Rubber - **Spot Information**: Not provided comprehensively. - **Market Analysis**: The Sino - US trade situation and the supply situation in domestic and Southeast Asian production areas lead to an overall supply - surplus situation. The potential impact of US auto tariffs on demand is a concern [12][13] PVC - **Spot Information**: The mainstream price of East China 5 - type PVC is 4,760 yuan/ton, down 70 yuan/ton month - on - month. The mainstream price of ethylene - based PVC is 5,000 yuan/ton, unchanged month - on - month [14] - **Market Analysis**: The production enterprise operating rate has decreased slightly, the demand from downstream enterprises has not improved significantly, and the inventory has decreased [14] Soda Ash - **Spot Information**: The national mainstream price of heavy soda ash is 1,416.25 yuan/ton, down 5.94 yuan/ton month - on - month [15] - **Market Analysis**: The supply has decreased slightly due to plant maintenance, the inventory has decreased, and the demand is average. The market is expected to fluctuate widely in the short term [15]