Economic Growth - South Africa's GDP grew by 0.8% in Q2 2025, marking the strongest growth quarter in nearly two years, indicating robust economic momentum [1][5] - The growth follows a slight increase of 0.1% in Q1 2025, demonstrating a continuation of positive economic trends [1] Sector Performance - Key sectors such as manufacturing, mining, and trade led the supply-side growth, while household consumption and reduced imports contributed to demand-side growth [2] - Manufacturing output increased by 1.8%, driven by the automotive, petroleum, chemicals, rubber, and plastics sectors [2] - Mining output rose by 3.7%, the fastest growth since Q1 2021, with platinum group metals, gold, and chrome contributing significantly [2] - The trade, accommodation, and food services sectors grew by 1.7%, reaching the highest level since Q1 2022 [2] - Agriculture continued its positive trend with a third consecutive quarter of growth, supported by increased horticultural and livestock activities [2] Consumer Activity - Household consumption has shown consistent growth for five consecutive quarters, with a 0.8% increase in Q2 2025, fueled by spending in dining, hospitality, clothing, and insurance [2][4] - The retail trade, automotive trade, and food and beverage sectors also experienced growth, contributing positively to the overall economic performance [4] Challenges and Declines - Despite the overall growth, there were declines in demand for alcoholic beverages and housing-related services, as well as a drop in wholesale trade [3] - The construction sector contracted for the third consecutive quarter, with a decline of 0.3%, and transportation, storage, and communication sectors also saw a decrease of 0.8% [3] - Fixed capital investment fell by 1.4%, marking a third consecutive quarter of decline [3] Government Response and Outlook - The South African government views the Q2 2025 economic data as a sign of resilience amid global trade challenges, emphasizing the effectiveness of policies aimed at stimulating growth and supporting local industries [4][5] - Economic analysts predict a moderate acceleration in South Africa's economy, despite the low growth rate, indicating an overall improving trend [5]

Group 1 - The core achievement of Yanqing District's "Two Zones" construction over five years includes 1,219 projects in the pipeline and 740 projects completed, resulting in a completion rate of 60.7% [1] - Tourism is a key focus for development, with the Badaling Great Wall being developed into a world-class scenic area and various seasonal events planned to attract 1.408 million visitors in 2024 [1] - Yanqing has hosted 74 ice and snow events over five years, including 22 international and national-level competitions, engaging 240,000 participants in winter sports [1] Group 2 - The low-altitude economy is a distinctive feature of Yanqing, with over 100 companies gathered in the first civil unmanned aerial vehicle test zone in Beijing, and the establishment of the city's first low-altitude technology industrial park [2] - The revenue of enterprises in the Zhongguancun Yanqing Park has surpassed 100 billion, with industrial output growth in the first half of 2025 ranking second in the city [2] - The district plans to deepen the construction of a national comprehensive demonstration zone for expanding service industry openness, leveraging resources from the Great Wall, Expo, and Winter Olympics to attract quality projects [2]

Core Insights - The article highlights innovative housing solutions showcased at the 2025 China International Fair for Trade in Services, focusing on "good houses" that emphasize efficiency and sustainability [1] Group 1: Prefabricated Housing - Prefabricated buildings reduce labor by over 50% compared to traditional construction methods and shorten construction time by approximately one-third, resulting in cleaner and more environmentally friendly job sites [1] - The new type of residential buildings can be ready for occupancy within 5 to 7 days, allowing for quick and convenient living arrangements [1] - The company is not only focusing on domestic projects but is also promoting its products for international markets [1] Group 2: Smart Garden Solutions - Smart garden cabins utilize solar photovoltaic panels and graphene heating devices to provide auxiliary heat for plants, enabling them to survive in temperatures as low as minus ten degrees Celsius [1] - This technology aims to create a year-round green urban environment, referred to as a "three-dimensional green lung," applicable in parks, commercial areas, and residential settings [1] - The solution is designed to integrate garden city concepts with everyday life, making it suitable for ordinary family courtyards [1]

Core Viewpoint - The research conducted by a team from Huazhong Agricultural University reveals that a new functional gene can originate "from scratch," challenging the long-held belief that new genes arise from existing ones through errors in replication or fusion [1][3]. Group 1: Research Findings - The study published in the journal "Cell" details a multi-step process for the emergence of a new gene named SCREP, which significantly inhibits the synthesis of a key aromatic compound, eugenol, in roses [1][3]. - The SCREP gene's origin involved a non-coding DNA segment that appeared approximately 63 million years ago, which evolved into a complete protein-coding gene framework over 16 million years, aided by the insertion of a "jumping gene" known as MITE [3][4]. - Genetic sequencing and aroma component analysis of 38 rose species revealed that the SCREP gene is commonly found in more evolved or artificially selected rose varieties, indicating its role in shaping the aromatic characteristics of these plants [3]. Group 2: Implications and Applications - This discovery provides a theoretical basis for the targeted regulation of floral scent traits in roses and holds significant potential for synthetic biology applications [4]. - The research opens avenues for creating new genes from scratch, moving beyond traditional methods that rely on modifying existing genes to improve plant traits [4].

Financial Data and Key Metrics Changes - The company reported a strong first half performance with underlying EBITDA of NZD 86.7 million, up 43% year-over-year [3] - Underlying NPAT increased by 48% to NZD 56.9 million, while NPAT attributable to shareholders rose by 72% to NZD 48.9 million [3][4] - Net debt decreased by NZD 14.4 million to NZD 67.5 million as of June 30, 2025, reflecting income from earnings and proceeds from the sale of orchards [7][8] Performance by Business Lines - The Global Proteins division maintained steady performance with underlying EBITDA of NZD 29.7 million, consistent with the previous year [6] - The Horticulture division achieved exceptional results with underlying EBITDA of NZD 53.2 million, up 77% due to increased apple volumes and favorable pricing [7][11] - Logistics reported underlying EBITDA of NZD 6.1 million, a 60% increase attributed to higher freight volumes [12] Market Data and Key Metrics Changes - The horticulture division's total own growing export volumes are forecasted to be 3.7 million TCEs, a projected increase of around 21% compared to 2024 [11] - The Asia and Middle East markets are expected to account for approximately 85% of total fruit sold, with strong demand anticipated due to supply shortages [11] Company Strategy and Industry Competition - The company is focused on strategic growth initiatives, particularly in horticulture and logistics, leveraging investments in premium apple varieties targeted at key markets [5][16] - The logistics division is actively seeking opportunities to expand its freight forwarding model, enhancing connections with global operations [25] Management's Comments on Operating Environment and Future Outlook - Management expressed caution regarding the global proteins division due to geopolitical uncertainties and tariff impacts, but remains confident in medium-term growth initiatives [15][22] - The company anticipates continued diversification of earnings and growth in global protein and logistics sectors [16] Other Important Information - The company is developing new sustainability targets following the successful delivery of 2024 milestones, focusing on emissions reduction and employee support policies [13][14] Q&A Session Summary Question: Can you discuss the performance of global proteins projects? - Management noted strong performance from the new plant in Melbourne and the second toll processing plant in North America, with ongoing projects expected to contribute positively by the end of the year [20][21] Question: What factors are included in the updated guidance range? - The guidance reflects caution around macroeconomic conditions and tariff uncertainties, with a steady demand for pet food expected to return to historical growth rates [22][23] Question: What does the growth outlook for logistics look like? - The company is optimistic about the logistics sector, actively seeking to ramp up operations and connect with global supply chains [25] Question: Can you provide specifics on horticulture's EBITDA and impact for the year? - The company expects a flat second half for horticulture, with more fixed and variable costs compared to the previous year [30] Question: What are the drivers of global proteins growth in FY 2028 and beyond? - Management indicated that both organic growth and potential acquisitions will drive future growth, with opportunities in fish and poultry markets being explored [46][48]

Group 1 - The event is the largest and most influential construction industry trade fair in Brazil and South America, organized by Reed Exhibitions Alcantara Machado, aiming to enhance participation and resource flow between international exhibitors and buyers [5] - The exhibition will take place from April 7-10, 2026, at the São Paulo Exhibition Center, with a yearly frequency [1] - In 2019, the exhibition covered an area of 85,000 square meters, featured 2,000 brands, and attracted 100,000 buyers, generating a transaction volume of 520 million USD [5] Group 2 - The exhibition showcases a wide range of products including outdoor gardening supplies, windows and doors, interior and exterior decoration materials, hardware tools, and construction engineering equipment [3] - The 2022 edition of the fair saw over 700 participating brands and displayed more than 2,400 products, with 15 Chinese exhibitors showcasing various tools and materials [6] - Brazil's hardware and building materials market is rapidly growing, with increasing reliance on imports, making it a new growth point for Chinese exports [8] Group 3 - Brazil has announced new economic stimulus measures to address slowing economic growth and declining industrial production, including tax reductions and support for export enterprises [8] - The South American market is a key export region for Chinese products, particularly in construction ceramics, stone materials, and sanitary ware, which have gained recognition for quality and affordability [8] - Challenges for Chinese companies in the Brazilian market include rising manufacturing costs, increased competition, and a lack of competitiveness in high-end products [8]

Group 1 - The rise of "balcony gardening" reflects a shift in consumer attitudes and a pursuit of quality of life, with urban gardening providing emotional value and contributing to related industry development [1][4] - Over 50 million users purchased vegetable seeds online last year, generating sales exceeding 800 million yuan, with continued rapid growth this year [2] - In Jiangsu's Songzhuang Village, nearly 90% of the 700 households are engaged in vegetable seedling production, with online sales thriving and a variety of high-end seedlings being introduced [3] Group 2 - The demand for seedlings is approximately ten times that of fruit, indicating a strong market for home gardening supplies [2] - Innovative gardening equipment, such as multi-layer hydroponic towers and automated planting systems, is gaining popularity, enhancing the home gardening experience [3][4] - The integration of agricultural elements into urban landscape design is encouraged to promote urban landscape agriculture and maximize the functionality of public spaces [4]

Core Viewpoint - The PeachMD database, developed by the Peach genetic breeding team at the Zhengzhou Fruit Research Institute of the Chinese Academy of Agricultural Sciences, integrates multiple omics data for peach, providing significant support for molecular breeding and functional genomics research [1][4]. Group 1: Database Features - PeachMD is the first database to integrate peach genome, epigenome, population genetic variation, and multidimensional phenotype data [1][4]. - The database includes 12 published peach genomes, 329 transcriptome datasets, 102 whole-genome bisulfite sequencing data, and 1313 whole-genome resequencing data, covering key agronomic traits [4][5]. - It supports CRISPR design and GWAS analysis tools, facilitating a comprehensive approach from gene mining to molecular design [5]. Group 2: Technological Advancements - The rapid development of high-throughput sequencing technology and the significant reduction in sequencing costs have led to an exponential increase in biological big data [3]. - The accumulation of multi-omics data presents unprecedented opportunities for understanding peach evolution and identifying key genes for important traits [4]. Group 3: Challenges and Solutions - The main challenge faced by researchers is the efficient integration and deep mining of complex multi-omics data to extract valuable biological information [4]. - The establishment of multi-omics databases like PeachMD is crucial for advancing peach genetic breeding research [4].

Core Viewpoint - Beijing is implementing a phased approach to establish a horticulturist system aimed at promoting the construction of a garden city, with a target for full coverage at the district, street (township), and community (village) levels by September 2027 [1] Group 1 - The initial establishment of a horticulturist database has been completed, with over 1,000 professionals and volunteers included, sourced from universities, research institutions, and community organizations [2] - The implementation plan specifies qualifications for different levels of horticulturists, including experience and professional titles, to ensure quality service [2] - The Fengtai District has become the first area to achieve full coverage of street (township) horticulturists, creating a structured team to enhance planning, design, and construction processes [3] Group 2 - The horticulturist system is designed to integrate with the responsibilities of planners and architects, fostering collaboration to improve the quality of garden city projects [2][3] - Fengtai District has developed tailored renovation plans for its 26 street towns, demonstrating a collaborative approach to urban greening and community needs [3] - Other districts, such as Dongcheng, Fangshan, and Tongzhou, are also beginning to establish their horticulturist teams, with a goal to achieve full coverage at the street (township) level by the third quarter of this year [3]

Core Viewpoint - The successful planting of Yunnan winter cherry seeds, which were sent to space and returned, marks a significant step in space breeding technology in China [1][3]. Group 1: Space Breeding Technology - The Yunnan winter cherry seeds, weighing 220 grams (1,800 seeds), were launched aboard the Shijian-19 satellite and successfully returned to Earth [1]. - The seeds are expected to germinate within approximately half a month after planting, reaching a height of about 1 meter for transplanting [3]. - The project aims to innovate cherry germplasm resources and enhance the domestic cherry industry in China [4]. Group 2: Research and Development - The focus will be on closely collaborating with project partners to monitor the growth process and conduct rigorous scientific tests to select superior varieties based on traits such as flower color, shape, and resistance [3][4]. - Advanced research methods, including morphology, cytology, physiological and biochemical testing, and molecular biology, will be employed to study the mutated plants [4]. - The initiative is expected to provide scientific evidence for large-scale grafting and propagation, promoting the cultivation of new varieties [4].