Group 1 - The Hong Kong Investment Promotion Agency reported that in the first half of this year, it assisted 380 overseas and mainland companies in establishing or expanding their businesses in Hong Kong, representing an 18% year-on-year increase [1] - From January 2023 to June 2025, the agency has assisted 1,301 companies, exceeding the performance target by 15%; the first year direct investment reached HKD 168.4 billion, nearly 1.2 times higher than the target [1] - In the first half of this year, the related companies brought in direct investment of HKD 39.1 billion, a 2% year-on-year increase, and created 8,165 new jobs, a 130% increase compared to the previous year [1] Group 2 - The "New Capital Investor Immigration Scheme" has received 1,548 applications globally since its launch in March last year, with 1,188 applications approved in principle and 673 formally approved, amounting to over HKD 21 billion in verified investments [1] - The agency's director, Liu Kaixuan, emphasized the focus on enhancing Hong Kong's connection with overseas markets, particularly in traditional markets like Europe, North America, and Northeast Asia, while also exploring emerging markets [1] - Future investment attraction efforts will concentrate on four strategic industries: financial services and fintech, innovation and technology, supply chain management and logistics, and sustainable development and green economy [2]

[Table_Reportdate] 2025年07月07日 [证券分析师 Table_Authors] 姚星辰 S0630523010001 yxc@longone.com.cn 证券分析师 吴康辉 S0630525060001 wkh@longone.com.cn -20% -10% 0% 10% 20% 30% 2024-07 2024-09 2024-11 2025-01 2025-03 2025-05 2025-07 食品饮料(申万) 沪深300 [相关研究 table_product] [Table_NewTitle 重视新品类和新渠道下的α机会 ] ——食品饮料行业周报（2025/6/30-2025/7/6） 超配 [table_main] 投资要点： ➢ 风险提示：宏观经济增长不及预期；竞争加剧的影响；食品安全的影响。 行 业 研 究 食 品 饮 料 证券研究报告 HTTP://WWW.LONGONE.COM.CN 请务必仔细阅读正文后的所有说明和声明 行 业 周 报 [table_invest] 1.政策纠偏情绪修复，聚焦供需改善 方 向 — — 食 品 饮 料 行 业 周 报 （2025/ ...

"确定性"多点开花，业绩估值各有看点 [Table_Industry] 交通运输 [Table_ReportDate] 2025 年 7 月 7 日 证券研究报告 行业研究 | [Table_ReportType] | | --- | | 行业投资策略 | | [Table_StockAndRank] 交通运输 | | | --- | --- | | 投资评级 | 看好 | | 上次评级 | 看好 | [Table_Author] 匡培钦 交通运输行业首席分析师 执业编号：S1500524070004 邮 箱：kuangpeiqin@cindasc.com 黄安 交通运输行业分析师 执业编号：S1500524110001 邮 箱：huangan@cindasc.com 秦梦鸽 交通运输行业分析师 执业编号：S1500524110002 邮 箱：qinmengge@cindasc.com 陈依晗 交通运输行业助理 邮 箱：chenyihan@cindasc.com 信达证券股份有限公司 CINDA SECURITIES CO.,LTD 北京市西城区宣武门西大街甲127号金隅大厦B 座 邮编：100031 [Ta ...

将投中网设为"星标⭐"，第一时间收获最新推送 速览投资风口，掌握资本律动。 作者丨 长风 来源丨 东四十条资本 大家好，我是长风。今天给大家带来这一周资本市场的专业投研信息。 焦点回顾： 新消费赛道，热点关注。 一家咖啡品牌融了3000万；阅文投了一家毛绒潮玩品牌。 硬科技赛道 ，半导体/芯片亿元融资不断。 本周，人工智能芯片企业凌川科技近日完成数亿元A轮融 资，由北京市人工智能产业投资基金和快手集团领投，亦庄产投、顺禧基金、九智资本等跟投。此 外，芯片设计企业飓芯科技获得B轮融资，规模高达3亿元，由深创投和中国国新领投，广发信德、 盛景网联、荷塘创投等跟投。 互联网赛道，资本持续加注AI基础设施。 本周，前月之暗面核心产品负责人明超平AI编程项目新言 意码获新一轮融资，估值数亿美金，红杉中国参与投资，本轮融资部分老股东也继续加注。此外，智 谱宣布浦东创投集团和张江集团对智谱总额10亿元的战略投资，并于近期完成首笔交割。 据投中网不完全统计，投融资详情如下（统计周期06月28日—07月04日）： 新消费 北京魔森卡供应链管理有限公司完成3000万元A轮融资 7月2日消息，北京魔森卡供应链管理有限公司（品牌：M ...

商业承兑汇票是由企业自行承诺到期付款的信用工具，广泛应用于大型制造、建筑、物流等上下游交易 频繁的供应链场景中。相较于银行承兑汇票，商票开票门槛更低、审批流程更简，但对出票企业的信用 资质要求更高，适用于资金链相对稳定、信用记录良好的中大型企业。随着电子商票系统逐步完善，商 业承兑汇票在企业间流通更为便利，部分金融机构也已建立基于商票信用的贴现与质押融资机制，为票 据持有人提供资金流动性支持。尤其在核心企业明确支持、构建信用闭环的前提下，商票已成为中小企 业间结算和融资的重要补充工具。其潜在融资空间的释放，依赖于电子化程度、征信体系覆盖以及金融 机构对信用评级的精准识别与接受度。 沂链通供票公共服务平台由临沂商城数科集团运营，2024年5月经上海票据交易所核准直连供票平台， 渠道代码400026，是国内首个商贸物流背景、地方政府主导且全国展业的第三方平台。平台服务涵盖 供应链票据、线上贴现、商票直融、银票秒贴等票据综合服务。目前，供票业务规模已突破300亿元， 位列全国前四位，创造了直连票交所29天实现系统投产、首年供票业务规模突破100亿元的全国最快速 度。 产品关键词：银行承兑汇票、商业承兑汇票、票据承兑 ...

Core Viewpoint - Major shareholders of Guangdong Pulutong Supply Chain Management Co., Ltd. plan to reduce their holdings, which may impact the company's stock performance and investor sentiment [1][2][4]. Group 1: Shareholder Reduction Plans - Shareholder Chen Shuzhi intends to reduce his holdings by up to 10,994,640 shares, representing 2.9451% of the total share capital and 3% of the total share capital excluding repurchased shares [1][4]. - Shareholder Zhang Yun plans to reduce her holdings by up to 7,329,760 shares, accounting for 1.9634% of the total share capital and 2% of the total share capital excluding repurchased shares [1][4]. Group 2: Shareholder Commitments - Chen Shuzhi has committed to not transferring more than 50% of his shares within 12 months after leaving the company and has adhered to this commitment without violations [5][6]. - Zhang Yun has made similar commitments regarding her shareholdings, ensuring compliance with regulations and has also not violated her commitments as of the announcement date [5][6].

| 股票代码：600153 | 股票简称：建发股份 | | 公告编号：临 | 2025—034 | | --- | --- | --- | --- | --- | | 债券代码：137601 | 债券简称：22 建发 | Y4 | | | | 债券代码：115755 | 债券简称：23 建发 | Y1 | | | | 债券代码：240217 | 债券简称：23 建发 | Y2 | | | | 债券代码：240650 | 债券简称：24 建发 | Y1 | | | | 债券代码：241016 | 债券简称：24 建发 | Y2 | | | | 债券代码：241137 | 债券简称：24 建发 | Y3 | | | | 债券代码：241265 | 债券简称：24 建发 | Y4 | | | | 债券代码：241266 | 债券简称：24 建发 | Y5 | | | | 厦门建发股份有限公司 | | | | | 关于上海证券交易所对公司 2024 年年度报告 问询函的回复公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 厦门建发 ...

建发股份作为国内大宗供应链头部公司，坚持"成为国际领先的供应链运营商"的战略愿景，致力于打 造"中国式商社、全球化建发"。2025年6月，公司在多个领域持续发力，不断深化国际合作，助力企业 国际化战略稳步推进。 6月25日，建发股份全资子公司建发生活资材受邀参加瑞幸咖啡（厦门）创新产业园开工仪式暨瑞幸中 巴咖啡文化交流论坛。 在中巴咖啡文化交流论坛上，建发股份总经理程东方指出，建发充分利用自身在国际贸易和物流网络方 面的优势，通过产地直采、品质把控、价格管理等措施推动咖啡供应链不断优化升级。建发生活资材持 续推进咖啡供应链业务，现已通过"雨林联盟"咖啡豆认证，积极推动创新转型，并成立首个咖啡实验 室，具备从咖啡生豆检测、熟豆杯测评估到产品研发等能力，为国内市场提供高品质、定制化的咖啡产 品。面对即将到来的2026"中巴文化年"，建发生活资材将携手瑞幸咖啡等合作伙伴，以"一颗绿色咖啡 豆"助力中巴咖啡产业谱写合作共赢的生动篇章。 签署多项合作协议，助力金砖创新基地建设 6月28日，金砖创新基地产业项目对接会在北京举行，建发股份两家子公司分别与浆纸、农产品领域头 部企业签署合作协议，签约总金额超57亿元人民币。 ...

Core Viewpoint - The article discusses the competitive landscape of instant retail, highlighting Meituan's strategic shift from online to offline operations through the launch of "Raccoon Canteen" and its implications for the supply chain and business models in the food delivery industry [1][5][11]. Group 1: Meituan's Raccoon Canteen - Meituan officially launched "Raccoon Canteen" in July, with plans to open 1,200 locations nationwide over the next three years, following a trial phase that began in December [2]. - The operational model of Raccoon Canteen resembles a food delivery hub, allowing consumers to order from multiple vendors through Meituan's platform without dine-in options [2]. - Meituan emphasizes a non-self-operated model, focusing on providing a platform for various food vendors while ensuring compliance with food safety standards [2][4]. Group 2: Supply Chain Integration - Meituan aims to enhance transparency in food sourcing with features like "Food Safety Diary," allowing consumers to trace the supply chain from source to table [3]. - The company plans to offer comprehensive supply chain services through its platform "Fast Donkey Procurement," connecting vendors with over 200 food suppliers for direct sourcing [6][7]. - This supply chain strategy aligns with industry trends, as competitors like JD.com also focus on supply chain optimization as a core business model [8][10]. Group 3: Competitive Landscape - The competition between Meituan and JD.com is intensifying, with JD.com confirming its entry into the hospitality sector and planning to offer supply chain services to optimize costs [9][10]. - JD.com is also launching its own food service infrastructure, indicating a shift towards innovative business models that prioritize food safety and cost efficiency [10]. - The ongoing competition is not merely about pricing but involves innovation in business models and supply chain management [11]. Group 4: Additional Initiatives - Meituan is expanding its offerings with the launch of a discount supermarket project named "Happy Monkey," set to open in August, which will also rely on a robust supply chain [13]. - The company is implementing a pension insurance subsidy plan for delivery riders, aiming to enhance worker welfare and address fatigue issues [13].

出品：新浪财经上市公司研究院 Hope Sea是典型的家族企业。根据招股书披露，在上市前的股权架构中，公司创始人冯苏军及其配偶杨春葵的春晖家庭信 托，通过Hope Atlas持股76%；女儿冯扬的玉承家庭信托，通过Hope Horizon持股24%。即冯氏家族合计控制公司100%股权。 作者：君 2025年6月16日，Hope Sea Inc．（下称"Hope Sea"或"公司"）向港交所主板递交上市申请，农银国际担任独家保荐人。 本次募集资金拟用于：（1）扩大服务规模及/或能力；（2）升级统一的IT系统。通过实施硬件升级（如服务器、网络、防火 墙、VPN及堡垒主机）、软件升级及招聘IT专员，升级及发展EAS系统；（3）国际扩张。透过招募人才（如本地销售及营销 团队）及增加办公室及仓库容量，以扩大在新加坡的业务 ；（4）营运资金及一般公司用途。 作为典型的家族企业，Hope Sea由冯氏家族（创始人冯苏军及其配偶杨春葵、女儿冯扬）通过家庭信托控股100%。同时，公 司两名执行董事分别为冯苏军的女儿及女婿，冯苏军担任非执行董事及董事会主席，冯氏家族全面掌控公司的经营决策权。 2023年、2024年，Hope S ...