•我国一季度对欧盟进出口1.3万亿元，同比增长1.4% •2024年，A股27家公司研发支出超百亿元 转自：新华财经 【重点关注】 •统计数据显示，2024年共有290家A股上市公司研发支出超10亿元，研发支出占营收比例超10%的公司有925家，这2项数据均创历史新高。27家公司研发支 出超百亿元，比亚迪、中国建筑、中国移动、中国石油、中国中铁排名前五。比亚迪2024年研发支出达到541.61亿元，A股历史上首次跻身榜首位置。（证 券时报） •数据显示，4月份共有1189家私募证券管理人参与对A股上市公司的调研，覆盖27个申万一级行业中的639只个股，合计调研次数达7647次，较3月的3513次 环比增长117.68%。其中，电子、医药生物、机械设备成为当月私募调研热度最高的三个行业，立讯精密等个股成为4月热门调研股。（新华财经） •香港金管局：股票相关投资及区内货币兑美元升值支持港元汇率 【国内要闻】 •5月3日，全国铁路预计发送旅客1800万人次，计划加开旅客列车1563列。5月2日，全国铁路发送旅客1955万人次，同比增长11.1%，运输安全平稳有序。 （新华社） •"五一"假期首日，出境游需求井喷，其 ...

Economic Cooperation - The total import and export volume between Sichuan and the EU reached 169.95 billion yuan in 2024, accounting for 16.9% of the province's foreign trade [1][3] - The China-Europe Railway Express (Chengdu-Chongqing) has operated over 36,000 trains, serving as a key driver for Sichuan's cooperation with the EU [4] - Sichuan has established numerous industrial parks in collaboration with EU countries, including the Sino-German (Pujiang) SME Cooperation Zone and the Chengdu European Industrial City [4] Investment and Business Development - Over 700 EU enterprises have set up foreign-invested companies in Sichuan, covering key sectors such as services, electronics, automotive manufacturing, and biomedicine [2] - Major European companies like Siemens and Airbus have successfully expanded their operations in Sichuan, with Siemens building a digital factory and Airbus launching an aircraft lifecycle service center [2] Cultural and Educational Exchange - Sichuan has established 41 international friendship cities and 111 international friendly cooperation relationships with EU countries, enhancing cooperation in science, technology, and education [8] - The "2025 Chengdu-Europe Cultural Season" is part of a series of events celebrating the 50th anniversary of diplomatic relations between China and the EU [1] Human Interaction and Engagement - Frequent personnel exchanges have occurred, with EU ambassadors visiting Sichuan to understand its economic and social development [7] - Cultural exchange activities, such as youth summer camps and music concerts, have strengthened ties between Sichuan and EU countries [6][5] Future Collaboration - Sichuan is actively seeking to enhance cooperation with EU countries in vocational education, aiming to establish vocational education groups and training centers [8] - The collaboration between Sichuan and the EU is expected to expand into more fields, promoting mutual learning and joint progress [9]

Core Viewpoint - The article discusses the significant changes in travel and accommodation trends during the May Day holiday, highlighting a surge in demand and price increases across various travel sectors, particularly in lesser-known destinations and county-level hotels. Group 1: Travel Trends - The May Day holiday is expected to reach a peak in travel activity, with domestic flight bookings exceeding 5.42 million, a 31% increase compared to the previous year [6] - Popular destinations are experiencing a price increase in flight tickets, with over 70% of tickets rising by 2% to 5% [10] - The average daily traffic on national highways is projected to be around 62 million vehicles during the holiday [6] Group 2: Accommodation Price Surge - Hotel prices have seen dramatic increases, particularly in county and lesser-known scenic areas, with some hotels in third-tier cities raising prices by over 300% [34][33] - For example, a hotel room that typically costs 300 yuan per night is priced at 6142 yuan during the holiday [18] - In major cities, hotel prices have increased significantly, with some examples showing price hikes of 40% to 195%, such as a hotel in Xi'an increasing from 174 yuan to 514 yuan [31] Group 3: Changing Consumer Demographics - There is a notable shift in the demographic of travelers, with a significant increase in the number of elderly tourists, who now make up over 35% of visitors at popular attractions, an increase of 8 percentage points from the previous year [69] - The article highlights the rise of "reverse tourism," where lesser-known destinations are becoming increasingly popular, leading to a 126% increase in bookings for county-level accommodations [37] - The influx of foreign tourists is also notable, with a 173% increase in inbound travel orders during the May Day holiday compared to last year [50] Group 4: Evolving Travel Preferences - The article emphasizes the personalization of travel experiences, with younger travelers seeking tranquility in lesser-known areas, while older travelers are increasingly participating in group tours designed for their demographic [76][87] - The trend of "individualized tourism" is becoming more pronounced, as travelers seek unique experiences that resonate with their personal interests and lifestyles [75] - The article concludes that the meaning of travel has evolved, with a focus on personal fulfillment and enjoyment rather than traditional tourist activities [88]

川台产业合作推进会、川台青年就业创业发展交流会、巴蜀文化艺术季、"掌上蜀show·舌尖上的四 川"两岸新媒体创意拍摄……在日前举行的2025海峡两岸融合发展四川交流会中，丰富多彩的活动让两 岸嘉宾有机会充分交流沟通、畅谈合作机遇。 本次活动以"共育新动能·融合促发展"为主题。中共中央台办、国务院台办主任宋涛在开幕式上致辞表 示，我们始终尊重、关爱、造福台湾同胞，将继续完善促进两岸经济文化交流合作制度和政策，扩大两 岸交流交往，深化两岸融合发展，支持台商台企扎根大陆更好发展。 "对饕客，成都是一个美食的天堂，麻辣鲜香的口感令人难忘；对年轻人，成都是一个创业的福地，每 个年轻人都想成为下一个'饺子'；对企业家，成都是一个投资兴业的宝地，它的资源禀赋优异，产业种 类齐全，更是欧亚大陆的重要联结点。"多次赴川的全国台企联会长李政宏生动概括了四川和成都的独 特优势。 畅谈合作机遇 关注青年成长 看好大陆发展 "四川与台湾虽远隔千里，但两地情谊深厚、交往合作密切。"开幕式上，四川省委书记王晓晖说，近年 来，四川全面深化川台各领域合作交流，与台湾同胞共享四川现代化建设新机遇。 两岸企业家峰会台湾方面理事长刘兆玄表示，两岸在 ...

Core Viewpoint - The company reported a total revenue of 2.248 billion yuan in 2024, marking an 18.72% year-on-year increase, but net profit attributable to shareholders decreased by 38.77% to 24.6164 million yuan, primarily due to significant losses in the manufacturing sector despite strong performance in the AI computing power business [1] AI Computing Power Business: Growth Engine Emerges - The AI computing power business generated revenue of 455 million yuan and a net profit of 142 million yuan, with a gross margin of 53.42%, reflecting a year-on-year increase of 9.39 percentage points [4] - The company established a comprehensive service system around AI computing power cloud leasing, including equipment distribution, computing power optimization, grid cluster integration, and technical maintenance, fostering stable partnerships with key suppliers and customers [4] - Significant capital investments were made, with fixed asset additions of 277 million yuan and right-of-use asset additions of 1.434 billion yuan, which, while yielding high short-term returns, increased financial pressure on the company [4] Manufacturing Sector: Severe Losses, Urgent Need for Adjustment - The manufacturing sector reported revenue of 1.792 billion yuan, a decline of 4.74%, and a net loss of 116 million yuan, with a gross margin of only 8.65%, down 6.26 percentage points year-on-year [5] - Key reasons for the manufacturing losses included industry downturns, ongoing losses at the subsidiary Anhui Boying, and underperformance of overseas production bases [6] - The company has implemented measures to address manufacturing losses, including capacity reduction and loss mitigation strategies for the Anhui factory, and management team adjustments for overseas factories, which are expected to achieve profitability in the planned fiscal year [6] R&D and Equipment Investment: Dual Drivers for the Future - The company invested 84.2584 million yuan in R&D, a year-on-year increase of 8.77%, with R&D expenses accounting for 3.75% of total revenue, indicating a strong focus on technological innovation [7] - Equipment investments included the addition of production equipment worth 104 million yuan, enhancing the company's production capabilities and supporting future product upgrades and technological advancements [7] - Despite significant investments in R&D and equipment, the persistent losses in the manufacturing sector remain a critical issue, necessitating a balance between technological innovation and improving manufacturing profitability [7]

并不忘再补上一句，"如果不行，我们还有后招，禁运也不是没有可能。" 美国似乎在期待中国让步，但问题是，这一招真能奏效吗？禁运一旦启动，全球经济的反噬会让美国承受得起吗？ 美国财长"禁航威胁" 长贝森特他认为中国应该主动降温，迈出第一步，他强调，中国对美出口额是美国对华出口的五倍，基于这一差距，他认为目前的125%关税 政策是不现实的，无法持续下去。 贝森特还进一步威胁，如果局势恶化，升级的选项可能包括实施禁运，但他也表示希望这种情况不会发生。 前言 4月28日，美国财政部长贝森特在接受CNBC采访时拿出了"升级版威胁"，中国应该主动"降温"。 中美聚焦——美财长:希望中方率先缓和贸易紧张局势 贝森特似乎拿出了一副"铁证"，用中国对美出口额是美国对华出口五倍这个数字来说明关税不可能继续维持。 但问题是，这个看似有力的论据背后，其实漏洞百出，逻辑不太成立，首先，中美之间的贸易结构本就不对等。 中国凭借完善的产业链，生产了大量的日常消费品和电子产品，而这些恰恰是美国消费者离不开的东西。 说白了，如果没有中国的这些产品，美国的消费者可能得付出更高的价格，甚至有些商品根本买不到。 而美国在半导体等多个领域对中国设置的种 ...

花朵财经观察出品 撰文丨学研 "果链巨头蓝思科技赴港上市" "遇见小面冲击港交所中式面馆第一股" "赛力斯、宁德时代谋划A+H二次上市" "'卡牌界泡泡玛特'卡游二次冲击港股IPO" "手握'零食很忙'和'赵一鸣零食'的鸣鸣很忙正式向港交所递交上市申请" ...... 最近的港交所实在是太热闹了，一众中国企业扎堆涌入，掀起了一波内地企业赴港上市热潮。 今年一季度，港股新增51家上市申请，其中近四分之一为A股上市公司。截至2025年4月30日，剔除失 效、撤回、被拒绝和被发回的拟上市公司后，还有149家公司（来自全球）在港交所排队IPO，内地企 业超100家。其中不乏奇瑞汽车、沪上阿姨、周六福、老乡鸡等明星股，宁德时代、蓝思科技等寻 求"A+H"机会的A股上市公司。 | 序号 | 同花顺代码 | 证券商称 | 申请日期 | 拟上市板块 | 申请状态 | 同花顺全球行业 | 首次申请日期 | | --- | --- | --- | --- | --- | --- | --- | --- | | - | H2045. HK | IFBH | 2025-04-09 | 主板 | 处理中 | 包装食品与肉类 | 202 ...

整理 | 美股研究社 在这个快速变化的时代，人工智能技术正以前所未有的速度发展，带来了广泛的机会 。《AI日报 》致力于挖掘和分析最新的AI概念股公司和市场趋势，为您提供深度的行业 洞察和价值 分析。 A I 快 报 1.4月30日，三六零董事长周鸿祎在2024年度沪市主板人工智能专题集体业绩说明会上表示， 随 着DeepSeek、阿里千问等推理大模型成熟，成本和能力不是问题，另外，智能体将帮助交付产 品，MCP也将有助于解决AI工具不足的情况，今年AI杀手级应用将有望出现。 2.今天，小米开源首个为推理（Reasoning）而生的大模型「Xiaomi MiMo」，联动预训练到 后训练，全面提升推理能力。 在数学推理（AIME 24-25）和 代码竞赛（LiveCodeBench v5） 公开测评集上，MiMo 仅用 7B 的参数规模，超越了 OpenAI 的闭源推理模型 o1-mini 和阿里 Qwen 更大规模的开源推理模型 QwQ-32B-Preview。 3.报道：Altman等AI高管们将出席美国参议院听证会。 OpenAI的CEO Sam Altman、AMD的 CEP Lisa Su、CoreW ...

Group 1: Business Performance and Outlook - The LED business reduced losses by several million yuan in Q1 2025, with expectations for significant loss reduction and potential profitability by year-end [2][3] - The touch display business is expected to see revenue and profit growth in 2025, driven by major clients entering mass production [2][3] - The renewable energy business achieved sales revenue of approximately 2.63 billion yuan in Q1 2025, marking a year-on-year growth of about 43.79% [3] Group 2: Pricing and Market Strategy - The soft board business has maintained stable pricing with no significant downward pressure, keeping prices consistent with previous levels [3] - The company has initiated internal reforms to establish a low-cost production model, which has begun to show results in Q1 2025 [3][4] - Future strategies for the LED business include optimizing structure, product innovation, and cost control to achieve sustainable development [3][4] Group 3: Production Capacity and Investment - Current production capacity for mainstream product lines is sufficient to meet market demand, with cautious capital investment planned for major clients [4] - The precision manufacturing business operates at an overall utilization rate of approximately 40%, with efforts to improve profitability through new client acquisition [4] Group 4: International Trade and Market Expansion - Over 80% of the company's sales are exports, with direct sales to the U.S. accounting for less than 5% [4] - The company is focusing on a dual-driven strategy in consumer electronics and renewable energy, with significant improvements expected in 2025 [4][5] - The company aims to enhance market share and brand influence through a multi-tiered customer resource network and increased R&D investment [5]

Summary of Guanghong Technology Conference Call Company Overview - **Company**: Guanghong Technology - **Industry**: Consumer Electronics and Automotive Electronics Key Points Financial Performance - In 2024, Guanghong Technology reported a net profit of 276 million yuan, a decline compared to 2023, primarily due to weak orders in Q2 and Q3, but a recovery to 127 million yuan in Q4 [2][3] - For Q1 2025, revenue was 1.19 billion yuan, showing a year-on-year decline, with net profit around 35 million yuan, attributed to reduced performance from the Indian subsidiary [2][3] Business Structure and Growth - The company's business structure is shifting, with consumer electronics accounting for approximately 68% and automotive electronics rising to 23%, expected to exceed 30% in 2025 [2][3] - Guanghong Technology aims for over 25% growth in revenue and net profit for 2025 [2][5] International Operations - Orders from the Indian subsidiary are expected to recover in Q2 2025, while the Vietnam factory has become profitable with anticipated significant order increases [2][4] - The company is pursuing the acquisition of French company AC to expand its European manufacturing base and automotive electronics business, mitigating tariff risks [2][5] Seasonal Trends and Market Dynamics - The consumer electronics industry experiences significant seasonal fluctuations, with Q4 typically being the strongest quarter for Guanghong Technology due to high production rates and demand spikes from various holidays [2][6] - In Q1 2025, consumer electronics represented about 60% of revenue, while automotive electronics accounted for around 25% [2][7] Acquisition of AC Company - The acquisition of AC will maintain its independent operations while enhancing synergy, with AC's clients primarily from Europe and North America, providing advantages in business communication and chip procurement [2][9] - AC's revenue is expected to be integrated into Guanghong's financials post-acquisition, with AC's annual revenue around 3 billion yuan [10][11] Market Challenges and Strategies - The Indian market faces challenges due to political factors and subsidy policies, leading to a cautious approach towards expansion [4][16][17] - Guanghong Technology is diversifying risks by accelerating the AC acquisition and establishing overseas factories to navigate international uncertainties [19] Future Outlook - The company is optimistic about Q2 and Q3 2025 orders, with expectations of a strong performance in Q4, potentially leading to significant annual growth [5][23] - Automotive electronics are projected to grow by 30% to 50% in 2025, with major clients including Huawei [24] New Business Directions - Guanghong Technology is exploring new products in the fields of renewable energy and computing power, which are expected to become significant growth areas [26][27] - The company is also looking to enhance its position in the smart wearable market, although it currently has limited involvement [28] Strategic Vision - The company aims to strengthen its global presence and increase investment in non-mobile business sectors, with a focus on becoming a leading EMS provider [29][30] Investor Relations - Guanghong Technology encourages investors to maintain confidence and stay updated on company developments [33]