6月11日，截至港股收盘，恒生指数上涨0.84%，报24366.94点。雅高控股（03313.HK）收报0.178港元/ 股，上涨9.2%，成交量111.1万股，成交额19.67万港元，振幅13.5%。 （以上内容为金融界基于公开消息，由程序或算法智能生成，不作为投资建议或交易依据。） 本文源自：金融界 作者：行情君 机构评级方面，目前暂无机构对该股做出投资评级建议。 行业估值方面，建筑行业市盈率（TTM）平均值为9.3倍，行业中值1.54倍。雅高控股市盈率-0.63倍， 行业排名第209位；其他饮食天王(环球)（08619.HK）为0.15倍、浦江国际（02060.HK）为1.01倍、饮 食天王(环球)（08561.HK）为1.38倍、进升集团控股（01581.HK）为1.51倍、靛蓝星（08373.HK）为 1.58倍。 资料显示，雅高控股有限公司(股票代码:3313.HK)是一家集大理石矿山开采、生产加工、产品研发、高 端订制、整体空间解决方案为一体的全产业链品牌运营商,拥有目前中国最大的灰白色大理石矿山,产品 覆盖大理石大板、标准板、工艺面、拼花、异形、卫浴、工艺品及家居订制产品等,分销网络覆盖全国 ...

Group 1 - The Hang Seng Index rose by 0.84% to close at 24,366.94 points on June 11 [1] - Zhangli International (01693.HK) saw a significant increase of 50.0%, closing at HKD 2.7 per share, with a trading volume of 102,000 shares and a turnover of HKD 234,000, reflecting a volatility of 61.11% [1] - Over the past month, Zhangli International has experienced a cumulative decline of 17.81%, but has increased by 33.33% year-to-date, outperforming the Hang Seng Index by 20.45% [2] Group 2 - As of March 31, 2025, Zhangli International reported total revenue of HKD 266 million, a year-on-year increase of 40.18%, while the net profit attributable to shareholders was a loss of HKD 39.45 million, a decrease of 1989.86% [2] - The company's gross margin stands at -3.3%, and its debt-to-asset ratio is 99.54% [2] - Currently, there are no institutional investment ratings for Zhangli International [3] Group 3 - The average price-to-earnings (P/E) ratio for the construction industry is 9.3 times, with a median of 1.54 times, while Zhangli International's P/E ratio is -1.67 times, ranking 192nd in the industry [3] - Other companies in the food and beverage sector have P/E ratios ranging from 0.15 times to 1.58 times [3] - Zhangli International Holdings Limited, established in 1996, is a leading construction service company in Malaysia with over 20 years of operational history, primarily providing various construction services [3]

Core Viewpoint - The article discusses the reflections and investment strategies of Li Bei, a prominent private equity fund manager, who acknowledges her underperformance over the past two years due to a lack of understanding of domestic policy-making and execution mechanisms [1][6]. Investment Performance - Li Bei admits that her investment performance has been poor in the last two years, missing opportunities in sectors like small-cap stocks, new consumption, technology, and pharmaceuticals, which led to mediocre equity returns [2][3]. - The performance of her fund, the Honghu Zhongyu Macro Hedge Fund, has shown a cumulative return of 121.91% since its inception, significantly outperforming the CSI 300 index's 21.94% over the same period, but has lagged in the last two years with a return of -15.63% compared to the index's 0.97% [9]. Investment Strategy - Li Bei emphasizes her commitment to avoiding large positions in pharmaceuticals and new consumption, as well as not participating in small-cap stocks, while focusing on cyclical, high-dividend, and low price-to-book ratio stocks [1][6]. - She proposes three improvement measures: enhancing foreign capital tracking, selecting stocks with alpha potential, and prioritizing safety and risk-reward ratios by choosing low PB and high dividend stocks [3]. Portfolio Composition - Li Bei presents two investment portfolios for consideration, with her preference for Portfolio B, which includes low PB and high dividend stocks, indicating a focus on safety and long-term value [4][5]. - The current asset allocation includes 55%-60% in equities, 10%-15% in gold for hedging against dollar risks, and a focus on low-carry commodities and government bonds [5][6]. Market Analysis - Li Bei reflects on the changing dynamics of policy execution in China, noting a significant decrease in the effectiveness and duration of policy implementation over the past two years, which has contributed to her investment misjudgments [3][8]. - The article highlights the challenges faced by Li Bei in making accurate market predictions, particularly in the context of her macro hedge strategy, which relies heavily on timing and market trend analysis [8].

Group 1 - The company, Zhonghuan New Energy, has entered into a sale agreement with Charming Brand Development Limited to sell its entire issued share capital of Central Property Group Ltd for HKD 115 million [1] - Central Property Group Ltd is a wholly-owned subsidiary of the company, primarily engaged in property development and investment, with key assets including a hotel, a bungalow, and apartments located in Zhejiang Province, China, totaling approximately 24,100 square meters [1] - The company aims to realize the value of its assets and reduce financial burdens by selling the properties, as the fair value of the investment properties has decreased from approximately HKD 222 million to HKD 206 million due to adverse market conditions [2] Group 2 - The construction industry is facing challenges such as market overcapacity, unclear regulatory environments, and geopolitical tensions, which have negatively impacted the sector [2] - The board of directors believes that the sale represents an opportunity to reallocate resources and focus on the company's future development in the new energy and EPC (Engineering, Procurement, and Construction) sectors [2]

第四届中国—非洲经贸博览会即将在中国长沙举办。作为落实中非合作论坛经贸举措的重要平台和中非 在经贸领域最重要的交流活动之一，本届博览会将以"中非共行动、逐梦现代化"为主题，围绕落实中 非"十大伙伴行动"举办各类经贸活动，推动中非经贸合作取得更多务实成果。 发展援助合作卓有成效。中方立项实施援非盟非洲疾控中心总部、布基纳法索博博医院等25个医疗卫生 项目；立项实施援马拉维、布隆迪、科特迪瓦农业技术援助等47个减贫和农业项目；立项实施援加纳渔 港综合设施、毛里塔尼亚努瓦克肖特立交桥等26个贸易促进项目；立项实施援马达加斯加公路等11个工 业化和就业促进项目等。目前，在中非共同实施的卫生健康、减贫惠农、贸易促进、投资驱动、数字创 新、绿色发展、能力建设、人文交流、和平安全方面的"九项工程"中，对非援助和发展合作项目已全部 落实。 近年来，在共筑新时代全天候中非命运共同体的战略引领下，中非共同努力，经贸合作成果丰硕，呈现 蓬勃发展势头。 合作领域日趋丰富。中国对非洲经贸合作横跨商品贸易、服务贸易等经贸领域全方位，广泛涉及制造 业、家电、基础设施、建筑、矿产资源、交通运输及物流、农业及农产品、文化及旅游产业等。除此之 ...

Group 1: Employment Strategies of Universities - Peking University implements the "Red-Green-Blue" employment guidance strategy, encouraging students to contribute to national needs through various sectors, including grassroots and defense industries [1][2] - Tsinghua University organizes "Job Seeking" practical activities, allowing students to engage directly with key industries, enhancing their understanding of career prospects [3][4] - Beijing Normal University promotes teaching positions in central and western regions through the "Four Good Teachers" initiative, providing financial incentives for graduates to teach in underprivileged areas [5][6] Group 2: Employment Trends and Statistics - In 2024, over 10% of Peking University graduates are expected to work in western and northeastern regions, a steady increase from previous years; employment in high-end manufacturing, such as chips, rose from 2.1% in 2020 to 6.8% in 2024 [2] - Tsinghua University has sent over 2,300 graduates to the manufacturing and energy sectors in the past five years, with a growing number each year [4] - Zhejiang University has developed a mission-driven employment education system, sending approximately 500 students annually to grassroots positions across 14 provinces [7][8] Group 3: Collaboration with Industries - Renmin University of China collaborates with over 400 companies to create stable employment and internship bases, enhancing the alignment between talent cultivation and industry needs [10][11] - Xi'an Jiaotong University has established partnerships with companies like ZTE to facilitate targeted talent training and employment opportunities, creating a replicable model for school-enterprise collaboration [11][12] - Hefei University of Technology has formed long-term partnerships with 140 companies, focusing on practical training and industry alignment to improve student employability [13][14] Group 4: Innovative Educational Approaches - The "Order Class" model at Inner Mongolia Electronic Information Vocational Technical College allows students to secure jobs before graduation through tailored training programs designed in collaboration with companies [15][16] - Zhejiang University utilizes digital tools to enhance job matching, creating employment communities and regional groups to provide targeted job information to students [8] - The "Job Seeking" initiative at Tsinghua University aims to bridge the information gap between students and employers, improving job matching and career readiness [3][4]

虽然当前摩洛哥建筑业蓬勃发展，但摩计划高专署（HCP）指出，近27% 的建筑企业面临流动性紧张压力，另有11%的企业存在原材料供应受阻问题。 在地缘政治局势动荡与全球供应链扰动加剧的背景下，若无法及时化解这些制 约因素，或将削弱预期的增长势头。 据《摩洛哥外交报》6月5日报道，摩洛哥建筑业正迎来重大转型契机，在 2025年非洲国家杯及2030年世界杯两大国际赛事的推动下，大型基建工程及旗 舰项目全面提速。BMCE资本全球研究机构报告(BKGR)预测投资金额高达170 亿美元，将推动摩建筑业迈上新台阶。 BKGR预测，本轮行业振兴的主要支撑点在于体育基础设施现代化。2023 至2028年间，摩洛哥将投入20亿美元用于新建和改造9座符合国际标准的体育 馆，每座场馆可容纳6万至11.5万名观众；此外，摩洛哥着力畅通与强化交通网 络体系，2025年将投入4.1亿美元用于升级公路与高速公路网络。重点工程包 括：提特梅里勒-贝雷希德战略通道、拉巴特-卡萨布兰卡大陆线新建工程，以 及西迪马鲁夫、艾因哈鲁达等核心高速枢纽的改造。与此同时，摩洛哥计划到 2027年将高速公路总里程从1800公里提升至3000公里；航空运输领域同 ...

Group 1 - The article discusses the contrasting narratives that arise during economic crises in capitalist countries, highlighting the tendency to attribute crises to class oppression or to blame foreign entities and specific domestic groups [1][2] - Trump's narrative aligns with the latter, attributing job losses and income declines to trade surplus countries and immigrants, which has resonated with voters in the Rust Belt [3][4][6] - The article notes that Trump's economic nationalism has led to significant political support from traditionally Democratic voters in struggling industrial regions [6][7] Group 2 - The U.S. is the largest steel importer, relying on imports for about 30% of its steel needs, primarily from Canada, Mexico, Brazil, and South Korea [8] - During his first term, Trump imposed a 25% tariff on steel and a 10% tariff on aluminum, which had limited effects due to exemptions for certain "friendly countries" [9][10] - In a recent announcement, Trump stated that tariffs on steel and aluminum would be doubled to 50%, claiming it would force American companies to buy from domestic suppliers [11] Group 3 - As of May 26, the average price of steel in the U.S. reached $901 per ton, double the global average, indicating that increased tariffs will further elevate domestic steel prices [12] - While higher steel prices may benefit the U.S. steel industry, they will impose cost pressures on sectors like automotive and construction, with Ford estimating a $1.5 billion profit reduction due to tariff impacts [13] - Economic analyses from Trump's first term suggest that while tariffs created thousands of steel jobs, they also resulted in the loss of tens of thousands of jobs in manufacturing and construction [14] Group 4 - The unprecedented 50% tariff will likely lead to continued reliance on imports in the short term, as equipment investments in the steel industry typically take years to materialize [15] - Rising prices for steel and aluminum could diminish the competitiveness of U.S. manufacturing [16] - The article suggests that Trump's focus on economic nationalism may prioritize populist sentiments over actual manufacturing recovery [17] Group 5 - Canada and Mexico, as primary suppliers of steel and aluminum to the U.S., face severe industry impacts from the 50% tariffs, with suppliers indicating that such tariffs could devastate their sectors [18] - The article highlights the deep economic integration between Canada and the U.S., which has been beneficial for both nations, but notes that Trump's policies have prompted Canada to consider trade diversification [20][21] - The trade dependency is heavily skewed, with 78% of Canada's exports and 80% of Mexico's exports going to the U.S., while the U.S. imports only 14% and 15% from these countries, respectively [25][26] Group 6 - Trump's trade policies extend beyond economic issues, affecting immigration, drug cooperation, and water rights disputes [22][23] - The article emphasizes that the tariffs serve as a political tool, effectively a consumption tax that shifts costs and responsibilities while aiming to secure votes [34] - The potential for more radical populist leaders to emerge in the future is noted, suggesting that the current political climate may lead to even more extreme measures [36][37]

Group 1 - The "Guangxi-Ethiopia Economic and Trade Cooperation Exchange Conference" was held in Nanning, highlighting the fruitful economic cooperation between China and Ethiopia, particularly in sectors such as sugar, forestry, infrastructure, healthcare, and logistics [1] - The President of the Guangxi International Chamber of Commerce emphasized the importance of leveraging industrial advantages to strengthen cooperation and explore broader markets, including ASEAN, under the Belt and Road Initiative [1] - Ethiopia is recognized as a significant trade partner for Guangxi in Africa, with imports including mung beans, sesame, saddles, and knitted shirts, while exports consist of cinnamon pharmaceuticals, medical gloves, plastic products, steel, automobiles, and optical instruments [1] Group 2 - The "Guangxi通五洲" initiative aims to expand international cooperation for Guangxi enterprises along the Belt and Road, having previously hosted events in various countries to promote practical cooperation between Chinese and foreign businesses [2]

Core Viewpoint - Chengdu's Housing and Urban-Rural Development Bureau has officially issued the "Chengdu 'Good House' Construction Action Plan," outlining 18 key tasks to guide the construction of quality housing, focusing on design, low-carbon energy efficiency, and supporting facilities [1][6]. Group 1: Design and Construction - The plan emphasizes a shift towards "scheme bidding" and "team bidding" for design contracts, aiming to enhance the quality of architectural design through high-quality demonstration projects and benchmarking against advanced works [1][6]. - It encourages the promotion of prefabricated decoration design to improve construction efficiency and quality [1]. Group 2: Green Building Materials - The plan aims to increase the number of certified green building materials by 10% through active applications from material production enterprises [6]. - It promotes the adoption of smart construction technologies, including building information modeling, construction robots, and smart construction elevators [6]. Group 3: Quality Control - The plan calls for strengthened control over the entire construction process and the quality of building materials, including enhanced management of material identification and supervision of acceptance processes [7]. - It introduces measures for the renovation of old urban communities and the upgrading of existing housing stock, including various methods such as demolition and reconstruction [7]. Group 4: Community and Operational Efficiency - Specific measures are proposed to optimize community environments, enhance operational efficiency, and leverage technology in construction and management [8].