就业数据难言乐观 数据显示，7月当月就业岗位增长总计7.3万个，高于6月的1.4万个，但低于道琼斯10万个增长预期。6月和5月的总数被大幅向下修正，其中6月的新增就业 人数从之前公布的向下调整14.7万，而5月的人数向下调整12.5万，两个月合计向下调整了25.8万个职位。 分行业看，7月增长主要来自医疗保健行业。该行业在新冠疫情后的复苏中持续表现强劲。该行业7月新增 5.5 万个岗位，轻松领跑。社会援助行业也贡献了 1.8万个岗位。而联邦政府就业人数持续下降，当月减少1.2万人。自马斯克领导的政府效率部门开始削减岗位编制后，联邦政府就业人数已经减少8.4万人。 薪资方面，平均时薪增长0.3%，符合预期，但3.9%的同比涨幅略高于预期。 疲软的就业报告，包括大幅下修的数据，显示就业市场远比预期的悲观。对于将就业数据作为政策目标的美联储来说，9月的降息可能性大幅增加。报告发布 后，期货交易员将9月美联储议息会议降息的可能性从此前的40%上调至63%。 美联储9月降息概率大幅增加。 当地时间8月1日，美国劳工部发布的7月非农就业人数增长大幅低于预期，且失业率小幅上升。此外，5月和6月就业数据也大幅下调。加上此前一 ...

Core Viewpoint - Tianan Health (00383) reported a decline in revenue and profit for the six months ending June 30, 2025, primarily due to decreased operational income in the medical segment and increased non-cash fair value losses on investment properties [1] Financial Performance - The company achieved revenue of HKD 783 million, a year-on-year decrease of 4.67% [1] - Profit attributable to shareholders was HKD 11.979 million, down 44.69% year-on-year [1] - Basic earnings per share were HKD 0.0111 [1] Contributing Factors - The decline in revenue and profit was mainly attributed to reduced operational income in the medical segment [1] - There was an increase in non-cash fair value losses on investment properties [1] - However, this decline was partially offset by a reduction in employee benefit expenses, net unrealized exchange gains, and decreased income tax expenses [1]

Group 1 - The U.S. labor market showed significant cooling in July, with non-farm payrolls increasing by only 73,000, the smallest gain since October of the previous year, and well below the market expectation of 110,000 [3][4] - The revisions for previous months were substantial, with May's job additions revised down from 144,000 to 19,000 and June's from 147,000 to 14,000, resulting in a total downward revision of 258,000 jobs for May and June combined [4] - The unemployment rate in July rose to 4.2%, aligning with market expectations, while the average hourly earnings year-over-year increased to 3.9%, the highest since March, slightly exceeding the expected 3.8% [4] Group 2 - The healthcare sector led job growth in July, adding 55,000 new positions, while the social assistance sector contributed an additional 18,000 jobs [4] - Federal government employment continued to decline, with a reduction of 12,000 jobs in July, reflecting ongoing layoffs in the "government efficiency department" [4] - The report was characterized as a game-changer for the labor market, indicating a rapid deterioration, although it has not yet reached crisis levels [5] Group 3 - Following the employment data release, market expectations for a rate cut by the Federal Reserve in September surged to 73%, up from approximately 40% prior to the non-farm report [5] - The uncertainty stemming from President Trump's tariff policies has led U.S. companies to reduce hiring, with recent increases in tariffs on Canada and other countries contributing to this trend [5] - The report has prompted significant market reactions, including a spike in spot gold prices and a drop in the U.S. dollar index [4]

换手率方面，磁谷科技换手率为28.29%，位居首位；天能股份换手率为0.17%，位居末位。 细分领域中，软件服务、生物制药、通信设备、电气设备、医疗保健类个股表现活跃，部分元器件、半 导体类个股下跌。 （文章来源：新华财经） 经新华财经统计，8月1日，科创板589只个股平均涨幅0.70%，平均换手率3.40%，合计成交额1554亿 元，成交额较上一交易日大幅萎缩，平均振幅为4.53%。 新华财经北京8月1日电 （王媛媛）科创50指数8月1日震荡回落，收跌逾1%，日线三连阴。至收盘时， 科创50指数报1036.77点，跌幅1.06%，指数振幅为2.57%，总成交额约330.5亿元。 个股表现方面，瑞可达涨20%，领涨成分股；东芯股份跌11.37%，跌幅居首。 从盘面上看，科创板个股多数上涨，上涨个股341只。高价股多数下跌，低价股则多数上涨。 成交额方面，东芯股份成交额61.6亿元，位居首位；ST帕瓦成交额418.2万元，位居末位。 ...

Market Capitalization Overview - New Oriental has a market capitalization of 15.747 billion [2] - TAL Education (好未来) has a market capitalization of 11.040 billion [2] - Vipshop (唯品会) has a market capitalization of 9.610 billion [2] - Miniso (名创优品) has a market capitalization of 5.940 billion [2] - Zai Lab (再鼎医药) has a market capitalization of 4.200 billion [2] - Huya (虎牙) has a market capitalization of 7.500 billion [2] Stock Performance - New Oriental's stock increased by 0.36 (+8.09%) [2] - TAL Education's stock decreased by 0.27 (-0.60%) [2] - Vipshop's stock increased by 0.56 (+2.49%) [2] - Miniso's stock increased by 0.01 (+0.07%) [2] - Zai Lab's stock decreased by 0.81 (-4.06%) [2] - Huya's stock increased by 0.03 (+0.75%) [2] Additional Company Insights - Financial One Account (金融壹账通) has a market capitalization of 2.91 million [3] - Xunlei (迅雷) has a market capitalization of 4.48 million [3] - Huami Technology (华米科技) has a market capitalization of 1.64 million [3] - Tuniu (途牛) has a market capitalization of 1.21 million [3] - Aiqiyi (爱奇艺) has a market capitalization of 24.11 billion [2]

Core Insights - Fortive completed the spin-off of Ralliant (Precision Technologies) on June 28, 2025, allowing a focus on its core segments [5][4] - Q2 2025 GAAP revenue from continuing operations was $1,020 million, slightly above analyst estimates, but a 0.4% decline from Q2 2024 [1][5] - Adjusted diluted EPS for Q2 2025 was $0.58, narrowly missing the consensus estimate of $0.59, marking a 3.6% increase year-over-year [2][1] Financial Performance - Adjusted EBITDA for Q2 2025 was $288 million, down 1.0% from the previous year, with an adjusted EBITDA margin of 28.4% [6][2] - Free cash flow from continuing operations was $180 million, a decrease of 9.1% year-over-year, while trailing twelve-month free cash flow increased to $939 million, a 13.7% improvement [6][2] - Net income on a GAAP basis remained flat at $112 million in Q2 2025 [6] Segment Analysis - Revenue from the Intelligent Operating Solutions segment was flat year-over-year, with an improved adjusted EBITDA margin by 50 basis points [7] - Advanced Healthcare Solutions saw a revenue decline of 1.3% in Q2 2025, with core revenue down 1.9%, although margins improved modestly [7] - Core revenue, excluding acquisitions and currency effects, dipped 0.7% in Q2 2025, contrasting with a 3.9% growth in Q2 2024 [5] Strategic Focus - The company emphasizes operational discipline and the Fortive Business System for continuous improvement and cost control [4][8] - Management acknowledged uncertainties related to trade, healthcare, and government spending impacting demand [8] - Fortive completed $345 million in share repurchases in the first half of 2025, returning capital to shareholders [8] Future Outlook - Fortive set its full-year 2025 adjusted diluted EPS target between $2.50 and $2.60 for continuing operations, without providing specific revenue or segment-level outlooks [10] - The company remains focused on reigniting organic revenue growth in its post-spin configuration [11]

Group 1: US-China Economic Talks - The US and China held constructive economic talks in Stockholm, focusing on trade relations and macroeconomic policies [1][2] - Both sides agreed to extend the suspension of certain tariffs and countermeasures for an additional 90 days [1] - The Chinese side expressed a desire to deepen dialogue and achieve more win-win outcomes [1] Group 2: Business Interactions - The US-China business community is actively engaging, with a delegation from the US visiting China to strengthen economic ties [2][4] - The China Council for the Promotion of International Trade (CCPIT) has hosted 30 delegations from US institutions and companies this year [4] - A report indicated that 82% of surveyed US companies expect to be profitable in China in 2024, an increase from the previous two years [4] Group 3: Trade Exhibitions and Market Trends - In Q1, the US was the top destination for Chinese companies participating in trade exhibitions, with nearly 2,000 Chinese firms attending [5] - However, in Q2, the imposition of tariffs led to a more cautious approach from Chinese companies regarding US market participation [5] - The CCPIT is encouraging companies to explore emerging markets in ASEAN, the Middle East, and Latin America, with participation in these markets increasing [5] Group 4: EU-China Economic Relations - The 25th EU-China leaders' meeting resulted in significant agreements on economic cooperation, emphasizing mutual benefits and complementary advantages [6][7] - In the first half of the year, China's trade with the EU reached 2.82 trillion yuan, a 3.5% increase year-on-year [7] - The automotive sector is highlighted as a key area of cooperation, with significant growth in exports and imports of automotive parts and machinery [7]

港股：港股当前整体升势仍较健康，核心驱动逻辑正从前期避险情绪与仓位回补，逐渐有转向基本面改 善与政策预期向好的迹象。 智通财经APP获悉，中泰国际发布研报称，港股当前整体升势仍较健康，海外不确定性有所下降有助于 削弱关税威胁对港股的冲击；内部来看，市场或在逐渐重新定价内部基本面修复的速度和力度。从技术 指标来看，短期市场超买情绪有所堆积。不过，港股资金流仍然充裕，港股通持续净流入，叠加内部政 策积极发力，外部贸易扰动短期可控，港股或以时间换空间，以盈利增长消化估值。若中美达成有限协 议并与国内政策催化共振，港股或延续"基本面主导"的渐进式修复，关注恒生科指、医药生物、AI概念 等。 海外市场方面，美国实际通胀及消费者通胀预期保持稳定，美国与欧盟、日本及东南亚多国达成贸易协 议，关税税率普遍低于20%，通过"对等关税"获得关税收入(4-6月超600亿美元关税收入，2025年全年 或超2,500亿美元)与资本流入，一方面为"大美丽法案"提供财政支持，另一方面高通胀压力纾缓，进一 步打开9月联储降息窗口。 中泰国际主要观点如下： 近期的经济数据指向美国进入"金发女孩"阶段，7月美国Markit综合PMI升至54.6 ...

Core Viewpoint - The article highlights the increasing concern over shingles, also known as "snake around the waist," which is caused by the varicella-zoster virus and can remain dormant in the body for years, particularly affecting individuals over 50 and those with weakened immune systems [1][2][3]. Group 1: Health Impact - Shingles can cause severe and prolonged pain, often described by patients as excruciating, with 5%-30% of patients experiencing postherpetic neuralgia, which can last for months or even decades [2]. - Over 90% of adults carry the varicella-zoster virus, and approximately one-third of individuals will develop shingles in their lifetime [2]. Group 2: Vulnerable Populations - Individuals with chronic diseases, such as hypertension and cardiovascular conditions, are at a higher risk for shingles due to compromised immune systems [3]. - Diabetic patients face a 60% higher risk of developing shingles compared to the general population, which can complicate blood sugar management and increase hospitalization risks [3]. Group 3: Prevention Strategies - Vaccination is emphasized as a crucial preventive measure for individuals over 50, especially those with chronic illnesses or weakened immune systems [4]. - Evidence from both domestic and international studies supports the recommendation for older adults and those with chronic conditions to receive shingles vaccinations to reduce the incidence of infectious diseases [4].

Group 1 - The number of job vacancies in the US decreased from a revised 7.71 million in May to 7.44 million in June, falling short of economists' expectations of 7.5 million [1][2] - Job vacancies saw a broad decline across various sectors, particularly in accommodation and food services, healthcare, and finance and insurance [2] - The hiring rate dropped to 3.3% in June, the lowest level since November of the previous year, indicating a slowdown in recruitment [2] Group 2 - The ratio of unemployed individuals to job vacancies fell to approximately 1:1 in June, significantly lower than the peak of 2:1 in 2022 [2] - There is a noted decrease in the number of voluntary resignations, suggesting a decline in workers' confidence in the job market [2] - Concerns have been raised by economists regarding the reliability of the job vacancy data due to low survey response rates and frequent data revisions [2]