美国学生当中，"非大学化"正逐渐流行。 越来越多的美国学生开始考虑四年制本科学位之外的教育选择，诸如，两年制项目甚至更短期的职业证 书。 大学学费不断上涨及随之而来的学生贷款债务是推动这一趋势的重要因素。此外，根据特朗普提出 的"大而美法案"，2026年新的借贷上限也将影响学生决策。 与此同时，为在当前逐渐放缓的劳动力市场中站稳脚跟，学生们更加关注职业培训和以就业为导向的路 径，也导致"非大学化"的倾向日趋明显。 "总体入学人数略有上升，但真正的趋势是各教育类型之间的转移，"美国国家学生信息中心高级研究总 监马修·霍尔萨普尔（Matthew Holsapple）表示，"社区学院和公立大学正在扩张，而私立高校在下滑。 这与近年来广泛增长的态势明显不同。" 美国社区学院协会（American Association of Community Colleges）主席兼首席执行官德里翁·波拉德 （DeRionne Pollard）表示，两年制学位、职业项目或其他认证项目的优势在经济不确定环境中更为显 著。 目前，应届毕业生的就业市场正面临多年来最为动荡的局面。人工智能（AI）的兴起重塑劳动力市 场，导致入门级岗位减少 ...

分业务来看，制造业务分部收益较2024年同期的491,410,000港元略有增加，但除税前溢利下降，主要受 人民币兑美元升值影响，削弱了毛利率。零售业务分部因终止Cole Haan业务，收益较2024年同期的 315,691,000港元有所减少，但除税前扭亏为盈，2024年同期为亏损约84,970,000港元。物业投资分部收 益保持稳定，除税前同样实现扭亏为盈。 来源：观点地产网 免责声明：本文内容与数据由观点根据公开信息整理，不构成投资建议，使用前请核实。 公告指出，本期业绩改善主要由于2024年同期因终止Cole Haan业务产生的一次性重大亏损在本期未再 发生，同时香港商业物业市场趋于稳定，预期不会就投资物业录得重大公平值变动。 观点网讯：2月9日，时代集团控股有限公司发布正面盈利预告。 根据公告内容，时代集团预计截至2025年12月31日止六个月，公司拥有人应占溢利不少于12,000,000港 元，而2024年同期则录得亏损约67,083,000港元，实现扭亏为盈。 ...

Core Viewpoint - The company anticipates a significant turnaround in profitability for the six months ending December 31, 2025, projecting a profit of at least HKD 12 million, compared to a loss of approximately HKD 67.08 million in the same period of 2024. This shift is attributed to the absence of one-time losses from the termination of the Cole Haan business and a stabilization in the Hong Kong commercial property market [1]. Group 1: Manufacturing Business - The manufacturing segment is expected to see a slight increase in revenue compared to approximately HKD 491 million in the same period of 2024. However, the segment's profit before tax is projected to decline from approximately HKD 33.54 million in 2024 due to the appreciation of the RMB against the USD, which is expected to weaken the segment's gross margin [1]. Group 2: Retail Business - The retail segment's revenue is anticipated to decrease compared to approximately HKD 316 million in the same period of 2024, primarily due to the termination of the Cole Haan business. Nevertheless, the segment is expected to achieve a profit before tax, contrasting with a loss of approximately HKD 84.97 million in 2024. This turnaround is mainly due to the absence of the one-time significant loss of approximately HKD 83.57 million from the previous year [2]. Group 3: Property Investment Business - The property investment segment is expected to maintain stable revenue compared to approximately HKD 6.61 million in the same period of 2024. Additionally, the segment is projected to achieve a profit before tax, in contrast to a loss of approximately HKD 0.76 million in 2024, as no significant fair value changes are anticipated for the period ending December 31, 2025 [2].

Core Viewpoint - The company expects to achieve a profit attributable to shareholders of no less than HKD 12 million for the six months ending December 31, 2025, a significant turnaround from a loss of approximately HKD 67.08 million in the same period of 2024, primarily due to the absence of a one-time significant loss from the termination of the Cole Haan business and a stabilizing commercial property market in Hong Kong [1]. Group 1: Manufacturing Business - The revenue for the manufacturing segment is expected to slightly increase compared to the segment revenue of approximately HKD 491 million in the same period of 2024 [1]. - However, the segment's profit before tax is anticipated to decline from approximately HKD 33.54 million in 2024, mainly due to the appreciation of the RMB against the USD, which has weakened the segment's gross margin [1]. Group 2: Retail Business - The revenue for the retail segment is expected to decrease compared to the segment revenue of approximately HKD 316 million in 2024, primarily due to the termination of the Cole Haan business [2]. - In contrast, the segment is projected to achieve a profit before tax for the six months ending December 31, 2025, compared to a loss of approximately HKD 84.97 million in the same period of 2024, driven by the absence of the one-time significant loss of approximately HKD 83.57 million from the previous year [2]. Group 3: Property Investment Business - The revenue for the property investment segment is expected to remain stable compared to the segment revenue of approximately HKD 6.61 million in 2024 [2]. - The segment is anticipated to achieve a profit before tax for the six months ending December 31, 2025, in contrast to a loss of approximately HKD 0.76 million in the same period of 2024, due to the expectation of no significant fair value changes during this period [2].

（来源：乌兰察布财政） 争取中央竞争性评审项目。 坚定不移支持扩大内需 加大力度争取中央转移支付和超长期特别 国债资金,支持"两重"建设,落实"两新" 政策。支持开展提振消费专项行动,鼓励大宗 消费、刺激常规消费,支持假日、赛事、演出、 冰雪、银发等经济发展和餐饮、康养等服务消 费。积极扩大有效投资,安排自治区预算内投 资建设资金14亿元,支持水利、电力、城乡 基础设施等项目建设。 着力补齐基础设施短板 安排交通运输支出136.3亿元,支持公路、 铁路、航道等重点项目建设,推进农村公路和 村内道路建设。安排资金65.7亿元，强化水网、 铁路网、公路网、管网等基础设施体系建设。 安排商务和口岸发展、重点开发开放试验 区等资金7.7亿元,加快推进中国(内蒙古) 自贸区等开放平台建设,支持口岸基础设施建 设、智能化改造和进境资源加工,持续增加二 手车、特色农畜产品等出口。 编 辑：郭晓雪 张 珂 （来源：乌兰察布财政） 加快推动产业转型升级 安排内蒙古重点产业引导基金30亿元、制 造业高质量发展资金14.9亿元、战略性新兴产 业发展资金1.8亿元,做优农畜产品精深加工, 推动传统产业延链补链强链,培育发展新兴产 业 ...

Group 1 - The ruling coalition of the Liberal Democratic Party (LDP) and Japan Innovation Party secured a majority in the recent House of Representatives election, with the LDP winning 316 seats and the Japan Innovation Party 36 seats, indicating continued governance stability for Japan [1] - The election was marked by a record short interval of 16 days from the dissolution of the House to the voting, the shortest since World War II, aimed at consolidating power for the ruling party to facilitate policy implementation [1] - Japan's GDP growth is projected at approximately 1.1% for the year 2025, suggesting a sustained low growth trend, with expectations for the government to maintain a moderately expansionary fiscal policy to support economic growth in the short term [1] Group 2 - Japan is gradually exiting its ultra-loose monetary policy by 2025, but faces challenges in balancing interest rate hikes with economic stability, as core inflation remains weak at around 1.8% [2] - The Consumer Price Index (CPI) is expected to rise by 2.4% year-on-year in December 2025, primarily driven by energy and food prices, indicating a reliance on imported inflation [2] - Japan's economy is confronted with long-term structural challenges, including an aging population, declining labor force, and rising social security expenditures, which limit potential growth rates [2] Group 3 - While the LDP's continued governance provides short-term stability and potential policy benefits, long-term structural issues such as labor shortages, aging population, government debt, and sluggish economic growth remain significant constraints [3] - The manufacturing sector shows signs of weakness, with a PMI of 49.8 in December 2025, indicating contraction, while Japan lags behind the US and China in emerging industries like AI and biotechnology [2][3]

Group 1 - The recent Japanese general election results indicate that the ruling coalition of the Liberal Democratic Party (LDP) and the Japan Innovation Party has secured a majority, with the LDP winning 316 seats and the Japan Innovation Party winning 36 seats, ensuring short-term stability in economic policy [2] - Japan's GDP growth rate is projected to be approximately 1.1% for the year 2025, reflecting a continued low-growth trend, which suggests that the government may maintain a moderately expansionary fiscal policy to support economic growth in the short term [2][4] - The Bank of Japan is expected to gradually exit its ultra-loose monetary policy by 2025, but will face challenges in balancing economic stimulation and preventing excessive depreciation of the yen, as core inflation remains weak at around 1.8% [3] Group 2 - Japan is facing long-term structural challenges, including an aging population, declining labor force, and rising social security expenditures, which are constraining the potential growth rate of the economy [3][4] - The manufacturing sector is showing signs of weakness, with the PMI for December 2025 recorded at 49.8, indicating contraction, while Japan lags behind the US and China in emerging industries such as AI and biotechnology [3] - Although the LDP's continued governance provides short-term stability and potential policy benefits, it does not address the underlying structural issues that hinder long-term economic growth [4]

Economic Data and Events - US manufacturing and services PMI, along with consumer confidence, exceeded expectations, while employment data was significantly weaker than anticipated[2] - Eurozone's January manufacturing PMI showed a larger-than-expected rebound, but services PMI and retail sales fell short of expectations[2] - Japan's January manufacturing and services PMI both improved[2] Economic Activity Index - The US WEI index stood at 2.13% for the week ending January 31, with a four-week moving average of 2.32%[4] - Germany's WAI index returned to positive territory at 0.1%, with a four-week moving average of 0%[4] Demand Indicators - US Redbook commercial retail year-on-year growth was 6.7%, with a four-week moving average of 6.25%[5] - The 30-year mortgage rate in the US stabilized at 6.11%, with mortgage applications declining by 8.9% week-on-week[5] Employment Data - Initial jobless claims rose to 231,000, up from 209,000 the previous week[6] - The INDEED job vacancy index was 103.9, slightly down by 0.5% from the previous week[7] Price Trends - The RJ/CRB commodity price index decreased by 3.3% week-on-week, while US gasoline prices remained stable at $2.75 per gallon[8] Financial Conditions - The Bloomberg Financial Conditions Index for the US was 0.755, recovering from 0.539 the previous day[9] - The Eurozone's Financial Conditions Index increased to 1.714 from 1.533 the previous week[9] Fiscal Data - As of February 5, US federal spending was approximately $784.5 billion, with a year-on-year growth rate of 3.8%[10]

Group 1 - The core viewpoint is that AH shares are approaching a critical moment, benefiting from strong capital inflows, policy support, and attractive valuations, with Chinese stocks expected to provide rich investment opportunities in 2026, focusing on themes such as technological innovation, industrial transformation, and consumer opportunities [1] - Despite a significant valuation re-rating in 2025, with the MSCI China Index's forward P/E ratio rising to 13.1 times, the market still shows a substantial discount, over 35% compared to developed markets, and lower than other emerging markets [1] - Domestic and international investors have a low holding ratio in Chinese stocks; if earnings visibility and investor confidence continue to improve, there is room for increasing allocation [1] Group 2 - The local AI models in China are rapidly closing the gap with their American counterparts, showing significant progress in natural language processing, image, and video analysis, which reflects the innovation wave in the local ecosystem supported by numerous large and specialized developers [2] - In manufacturing, factors such as automation, industrial AI, and the expected commercialization of humanoid robots by 2026 are accelerating the upgrade of the sector [2] - The Chinese government is shifting its policy focus towards energy storage solutions, advanced batteries, and system integration, providing a wide range of investment opportunities in the electrification value chain from battery materials to parts production [2] - The strategy is shifting from investment and export to consumption, with a focus on sectors like tourism, leisure, sports, and gaming, which are better positioned to withstand macroeconomic fluctuations and offer attractive long-term profit growth potential [2]

中国发展网讯记者龚成钰报道2026年2月6日，广西壮族自治区第十四届人民代表大会第五次会议在南宁 胜利闭幕。站在"十四五"规划收官、"十五五"启航的历史交汇点，广西交出了一份厚重的答卷。过去的 五年，广西经济总量实现跨越，生态优势金不换；未来的五年，广西将锚定"人工智能+"新赛道，统筹 建好"两个生态"，以"让人民评价"为最高标尺，奋力谱写中国式现代化广西篇章。 良好的生态环境是最普惠的民生福祉，风清气正的政治生态是干事创业的根本保障。广西深刻认识到， 自然生态是叶，政治生态是根。根深才能叶茂。统筹"两个生态"，护航高质量发展。 在"十五五"规划建议中，广西明确提出要统筹建好政治生态、自然生态"两个生态"。一手抓政治生态风 清气正，保持高压态势反腐惩恶，加大对违纪违规干部的查处力度；一手护自然生态山清水秀，持续深 入推进涉重金属、畜禽养殖、水污染等领域问题专项排查整治。这种统筹兼顾的治理智慧，旨在实 现"根"与"叶"的共生共优。只有政治生态清朗，才能确保生态文明建设的各项决策部署落地生根；只有 自然生态优美，才能为政治生态提供良好的社会基础和民心支撑。 这五年，更是"含绿量"与"含金量"齐飞的五年。"桂林山水 ...