资料显示，华滋国际海洋股份有限公司(以下简称"华滋国际海洋"或"集团")是中国领先的港口与航道工 程服务商,集团专注于港口基础设施工程、航道及其他工程,并于2019年底通过收购将业务进一步拓展到 市政工程业务。多年来,集团已逐步将业务拓展到长江三角洲、珠江三角洲以及华中、华北等中国大部 分地区,并跟随'一带一路'倡议,在文莱及印尼等多个国家和地区开展工程施工及技术业务,服务客户涵盖 电力、航运、能源、化工、市政、房地产等行业,致力于为不同地区的跨行业客户提供专业工程服务。 5月27日，截至港股收盘，恒生指数上涨0.43%，报23381.99点。华滋国际海洋（02258.HK）收报0.195 港元/股，上涨8.33%，成交量2000股，成交额390港元，振幅0.0%。 最近一个月来，华滋国际海洋累计涨幅0%，今年来累计跌幅10%，跑输恒生指数16.06%的涨幅。 财务数据显示，截至2024年12月31日，华滋国际海洋实现营业总收入15.34亿元，同比减少28.43%；归 母净利润-6924.9万元，同比减少325.2%；毛利率6.42%，资产负债率79.18%。 机构评级方面，目前暂无机构对该股做出投资评级建议 ...

Group 1 - The offshore RMB has recently appreciated against the USD, breaking the 7.17 mark, with a low of 7.16, and closing at 7.1782 on May 26 [1] - Goldman Sachs has adjusted its 12-month USD/RMB target to 7.0, indicating a potential 3% foreign exchange gain for the RMB in the next year [1][4] - Historically, when the RMB appreciates, the Chinese stock market tends to perform well, particularly in sectors like consumer discretionary, real estate, and diversified financials [1][4][5] Group 2 - The recent appreciation of the RMB is attributed to the easing of trade tensions, with the RMB center rate falling below 7.2 for the first time since April [1][8] - Despite the recent gains, there are concerns about the sustainability of the RMB's appreciation due to ongoing uncertainties in trade negotiations and macroeconomic conditions [8][9] - Companies that may benefit from RMB appreciation include those with a market capitalization over $2 billion and significant exposure to USD costs, such as airlines and food sectors [6] Group 3 - Conversely, companies that may be adversely affected by RMB appreciation are those with over 30% of their revenue from overseas and low USD debt exposure [7] - The future trajectory of the RMB will largely depend on export conditions and the behavior of exporters regarding currency conversion [9][10] - The potential for further RMB appreciation is limited, as the central bank has not shown intentions to significantly push for a stronger RMB [9][10]

Core Viewpoint - The Chongqing government is advancing state-owned enterprise (SOE) reform by strategically restructuring and professionalizing its key SOEs, reducing the number of enterprises and enhancing operational efficiency [1][3]. Group 1: Strategic Restructuring - The municipal state-owned assets supervision and administration commission has implemented five batches of strategic restructuring, consolidating the number of key SOEs from 51 to 33 large enterprise groups, achieving significant optimization of the SOE layout [3]. - Professional integration has been carried out within SOEs, focusing on sectors such as real estate, finance, construction, hotels, and ports, to create synergistic effects and enhance overall performance [3]. Group 2: Efficiency Improvements - The number of legal entities among municipal SOEs has been reduced from 2,260 to 690, achieving a reduction rate of nearly 70%, which includes the elimination of underperforming and "zombie" enterprises [4]. - Management levels have been streamlined, with the number of management tiers reduced to a maximum of three for most SOEs, and four for some listed companies, addressing bureaucratic inefficiencies [4]. - The transformation of headquarters from an administrative focus to a value-creation focus has strengthened functions in strategic management, investment control, risk management, personnel management, and party leadership, revitalizing the enterprise groups [4].

在全球经贸形势复杂多变的背景下，江苏多地企业以技术创新为引擎、政策支持为依托，持续深耕"一 带一路"市场，以高品质、多元化产品打开外贸增长新空间。据南京海关统计，今年前4个月，江苏省对 共建"一带一路"国家进出口9033.7亿元，同比增长9.6%，拉动全省进出口增速4.5个百分点，占比较上年 同期提升1.8个百分点至48.9%。 近日，在常熟雅致模块化建筑有限公司车间内，工人们正加紧赶制一批重达2007.2吨的集装箱房屋。这 批采用标准化、模块化生产的钢结构板房，将在南京海关所属常熟海关监管下，从常熟兴华码头启航， 运往旅游胜地马尔代夫，助力当地旅游业建设。"随着海外旅游市场的快速复苏，我们凭借技术优势抢 抓机遇，今年1—4月进出口货值达371.9万元，同比增长3296%。"该公司营销总监王丽芳说。 集装箱房屋是一种创新的建筑方式，它将房屋的组成部分分成不同的功能模块，通过标准化、模块化、 通用化的生产方式在工厂提前制造好，运往现场可直接入住使用。面对大宗货物通关需求，常熟海关开 辟"一企一策"的"绿色通道"，通过无纸化申报、优先安排泊位、优化查验流程等举措，实现货物"随 报、随检"；通过"实地巡查+视频监控 ...

Core Viewpoint - The report indicates a mixed economic outlook, with some sectors showing recovery while others face declines, particularly in exports and commodity prices [2][4][30]. Group 1: Economic Indicators - The Huachuang Macro WEI index has shown a slight decline, standing at 5.03% as of May 18, down from 5.15% on May 11 [4][9]. - Infrastructure remains a key driver of economic activity, particularly in asphalt construction rates, which increased to an average of 30.58% from 26.95% [10]. - The cement shipment rate has rebounded to 41.5%, up 2.2 percentage points from the previous week [17]. Group 2: Demand and Consumption - Land premium rates have significantly decreased, with a current rate of 1.37% compared to an average of 5.5% over the previous three weeks [5][14]. - Retail sales of passenger vehicles have shown a slight decline, with a growth rate of 12.4% as of May 18, down from 14.5% in April [13]. - The average daily subway ridership in 27 cities remained stable at 78.88 million, consistent with last year [13]. Group 3: Trade and Exports - U.S. imports from China have sharply declined, with a year-on-year drop of 8% in the first 21 days of May, compared to a 9.9% increase in April [5][23]. - The number of container ships from China to the U.S. has decreased by 37.5% year-on-year as of May 24 [5][23]. - The Baltic Dry Index (BDI) has shown a year-on-year decline of 26.1% [21]. Group 4: Commodity Prices - Gold prices have rebounded significantly, closing at $3,351 per ounce, a 5% increase [3][30]. - Prices for coal and real estate-related commodities have weakened, with Shanxi thermal coal prices down 0.5% and rebar prices down 1.3% [6][30]. - The overall commodity price index (BPI) has decreased by 0.3% domestically, while the CRB index has increased by 0.2% internationally [30][36]. Group 5: Debt and Financing - New special bond issuance has accelerated compared to last year, with a total of 1.68 trillion yuan issued as of May 23, representing 38.3% of the annual target [6][37]. - The issuance of general and special government bonds has also outpaced last year's progress, with net financing rates of 39.4% and 42.1%, respectively [6][37].

泰国政府近期重拳整治外资非法经营"代持企业"问题，初步调查发现相关非法经营活动已造成高达152.88亿泰铢（约合34亿人民币）的经济损失。该行动 是继"代持企业大清查第一期"之后的进一步深化，由泰国商务部与泰国中央调查局（CIB）联合展开，重点打击外资通过泰国人名义代为注册公司以规避 本地法律的行为。 泰国商务部长皮猜表示，泰国总理佩通坦高度关注此类非法经营活动，认为其严重影响国内中小企业的发展环境。他指出，全球经济变局加剧了非法资本 的流动风险，泰国亟需加强制度防线。 图：2024年4月24日，泰国警察突袭北榄府的一间仓库，发现大量走私、假冒等非法产品于网上销售。 图：2024年12月4日，泰国商务部和中央调查局在"代持企业大清查第二期"行动联合新闻发布会上展示了从代持企业查获的证据。 据2024年5月21日召开的外国企业和产品违法行为管理委员会第五次会议披露，过去九个月间，执法机关共处理39186起涉及非法或不合格网络产品案件， 造成损失超过20.74亿泰铢。此外，对价值低于1500泰铢的进口商品征税也取得阶段性成果，征税总额达17.96亿泰铢。 图：2025年5月1日，泰国警方启动"代持企业大清查第三期 ...

英国政府将培训12万英国建筑工人、工程师、以及护理人员，从而降低对移民的依赖程度。 ...

Group 1: Trade Measures - The U.S. has imposed a 30% additional tariff on specific models of cranes imported from China, affecting over $1.5 billion worth of imports annually [3] - The U.S. Coast Guard announced a new port facility usage fee for Chinese-built vessels, charging double compared to other countries, impacting a wide range of ships including commercial and fishing vessels [3] - The construction industry in the U.S. is expected to see an 8% increase in project costs over the next year due to the crane tariff, potentially leading small contractors to abandon projects and affecting local employment [3] Group 2: Geopolitical Implications - The U.S. aims to weaken China's manufacturing competitiveness through economic measures, which is crucial for maintaining its dominance in the global supply chain [5] - The U.S. actions are seen as a political maneuver to divert attention from domestic economic and social issues, especially with elections approaching [6] - China is accelerating free trade agreement negotiations with other economies, reducing reliance on the U.S. market, and implementing reciprocal trade measures against certain U.S. goods [6] Group 3: International Reactions - International economic organizations emphasize that confrontation between the U.S. and China will harm both parties, advocating for cooperation as a solution [8] - The World Trade Organization has expressed concerns that U.S. protectionist measures undermine the multilateral trade system and could negatively impact global economic recovery [6] - Long-term cooperation in various fields such as trade, climate, and security is essential for both nations, with a call for dialogue to achieve mutual benefits and global economic stability [8]

华尔街聚焦"人民币升值"主题 关税大战并未在今年推动美元升值，相反美元资产遭到抛售，关税或冲击美国通胀、加剧债务负担，同时也在侵蚀各界对美元信用的信心。与此同时，德国 罕见开始转向财政扩张，推动欧元对美元一度攀升10%，日元也在日本央行加息预期下升值，这也导致美元指数今年累计下跌近10%。 与2018年3月至2020年1月的中美贸易战1.0不同，当时人民币对美元汇率从6.26的低点升至7.18的高点（即贬值13%），而自 "对等关税"实施以来，人民币对 美元汇率已升值1%。然而，人民币的涨势普遍落后于欧元和一众亚洲货币。 不过，近期华尔街的唱多力量也开始渐强。例如，高盛预计未来3个月、6个月和12个月的汇率将从之前的7.3、7.35和7.35分别调整至7.2、7.1和7。这意味着 未来12个月人民币汇率将上涨3%。该机构最新认为，汇率升值将有望利多相关股票。 5月26日，离岸人民币一度对美元升破7.17，最低至7.16。 5月26日，离岸人民币一度对美元升破7.17，最低至7.16，截至同日19:00报7.1782。今年以来亚洲货币和欧元多数对美元升值5%~10%，而人民币从年初到5 月初的涨幅不到2%，近期 ...

Company Overview - Rongzun International Holdings operates through three main subsidiaries registered in Hong Kong, focusing on renovation, extension, and civil engineering projects [3] - The company specializes in various construction services, including structural engineering, renovation, facility configuration changes, and civil engineering works [3] Financial Performance - As of September 30, 2024, Rongzun International Holdings reported total revenue of 39.08 million yuan, a year-on-year decrease of 59.89% [2] - The company recorded a net profit attributable to shareholders of -9.46 million yuan, showing a year-on-year increase of 58.01% [2] - The gross margin stood at -9.02%, with a debt-to-asset ratio of 16.5% [2] Market Position - Rongzun International Holdings has a price-to-earnings (P/E) ratio of 119.9, ranking 104th in its industry, while the average P/E ratio for the construction industry is 10.22 [2] - The company has underperformed the Hang Seng Index, with a year-to-date decline of 4.76%, compared to the index's increase of 17.65% [2] Recent Stock Performance - On May 26, the Hang Seng Index fell by 1.35%, while Rongzun International Holdings' stock price increased by 9.0%, closing at 1.09 HKD per share [1]