登录新浪财经APP 搜索【信披】查看更多考评等级 北京星网宇达科技股份有限公司（以下简称"公司"或"星网宇达"）于近日获悉，公司部分银行账户资金被冻结，现 将相关情况公告如下： 一、本次被冻结账户信息 四、风险提示 本公司及全体董事会成员保证公告内容真实、准确和完整，不存在虚假记载、误导性陈述或重大遗漏。 二、本次部分银行账户资金被冻结原因 根据公司近日收到的法院寄送材料以及公司向相关方面了解的情况，上述银行账户资金被冻结的主要原因系公司 与北京尖翼领航科技中心（有限合伙）之间的股权转让合同纠纷，北京尖翼领航科技中心（有限合伙）向法院提 起诉讼并向法院申请财产保全，将公司部分银行账户资金冻结。截至本公告披露日，该案件尚未开庭审理。 三、对公司的影响及解决措施 1、截至本公告披露日，公司及子公司共有银行账户57个，被冻结银行账户6个。本次被冻结的资金总额共计 2,593.3475万元，占公司最近一期经审计净资产的比例为1.42%。其中，募集资金专项账户内被冻结的金额为 860.7121万元，占公司非公开发行A股股票募集资金净额的3.64%。 2、公司本次银行账户资金被冻结期间，日常经营活动均正常开展，并未受到重 ...

从二级市场表现来看，截至6月20日，海富通中证短融ETF年内单位净值上涨0.74%；富国政金债券ETF 年内单位净值上涨0.73%。 除上述两只产品外，还有多只债券ETF年内规模迭创新高，13只债券ETF规模达"百亿级"，债券ETF市 场整体规模已突破3500亿元，再创历史新高。具体来看，Wind数据显示，截至6月20日，债券ETF中已 有13只规模超过100亿元。 值得一提的是，截至6月20日，债券ETF年内规模增长达1768.96亿元，增幅超过100%，是各大类ETF中 规模增长最多的品类。 6月20日，海富通中证短融ETF、富国政金债券ETF规模一起突破500亿元。Wind数据显示，两只ETF最 新规模分别达509.58亿元、506.13亿元，较前一个交易日分别增长23.42亿元、23.67亿元，成为国内债券 ETF中首批达到500亿元级别的ETF。 鹏华基金现金投资部认为，这一快速增长，既反映了投资者对债券ETF工具价值的深度认可，也预示着 国内债券ETF市场仍处于发展黄金期，未来增长潜力可观。 据悉，海富通中证短融ETF成立于2020年8月3日，是市场上唯一一只以短期融资券为主要投资标的的场 内工具 ...

港股成创新药定价主战场 截至2025年6月22日，梁福睿管理的长城医药产业精选基金的年内收益率达到71.21%，暂时排名年内A 股基金的前列，其中，截至今年3月末，港股仓位占其所管基金的35.20%，并对基金业绩带来重大贡 献。 梁福睿指出，当前港股市场的估值抬升行情，本质是政策红利释放、全球流动性宽松与市场情绪共振的 综合结果。随着国际化突破与支付体系创新，港股创新药有望延续"戴维斯双击"行情。 近期，创新药行情交投依旧火热，国产创新药的海外授权与海外销售放量，也成为公募基金经理紧抓行 情的关键密码。多位公募业内人士认为，尽管创新药主题基金持仓品种估值与业绩尚不明朗，但市场预 期中的业绩兑现周期已悄然临近。 长城医药产业精选基金经理梁福睿对证券时报记者表示，创新药公司的短期亏损是行业发展的必然阶 段，其估值本质是对未来现金流的折现和对技术突破的溢价。创新药具有更加明确的投资机会和业绩爆 发周期，当前创新药赛道的投资也并非外界所说的"拆盲盒"，其中更多是对科学的探索和对未知的敬 畏。 创新药赛道中涉及的门类众多，如何精准挖掘细分赛道的核心机会成为医药基金经理业绩胜出的关键。 梁福睿认为，结合当前技术发展趋势， ...

Core Viewpoint - The article highlights the successful investment strategy of Tian Junwei, a fund manager at Bosera Fund, who employs a GARP (Growth at a Reasonable Price) approach to achieve superior performance in the market [1][2]. Investment Strategy - Tian Junwei's investment style is centered around the GARP strategy, which balances value and growth investing by capturing growth opportunities at reasonable valuations [2]. - Since starting independent product management in 2017, Tian has expanded his investment scope across various industries while integrating bottom-up stock selection with portfolio management thinking [2][6]. Focus on Growth Stocks - The selection of high-growth stocks is based on PEG (Price/Earnings to Growth) ratios, primarily focusing on technology companies, while high-quality growth stocks are often found in the consumer sector [2][7]. - Tian emphasizes understanding the underlying drivers of growth rather than just financial metrics, using industry trends as a guide for stock selection [3][8]. Unique Investment Approach - Tian is known for his left-side investment strategy, where he identifies undervalued stocks or those at the early stages of industry upturns, such as his early investments in the CRO/CMO sector [4][5]. - His investment philosophy rejects macro-level style shifts and industry rotations, focusing instead on long-term opportunities aligned with industry trends [4][6]. Lifecycle Focus - Recently, Tian has shifted his focus from mid-to-late stage companies to those in the early stages of their lifecycle, identifying new opportunities in emerging industries that are still undervalued [5][9]. Composite Investment Model - Tian has upgraded his left-side investment strategy to a composite model of "contrarian investing + portfolio management," which helps manage volatility even during market downturns [6]. Targeted Industry Opportunities - Tian's excess returns primarily come from stock selection, with less emphasis on asset and industry allocation. He identifies three main directions for future investments: digital transformation, safety and self-sufficiency, and emerging industries [7][9]. - In the digital transformation space, the rise of generative AI is seen as a catalyst for improving production efficiency and cost reduction [7]. - The safety and self-sufficiency sector includes electronics, computing, machinery, and defense, which are expected to yield high-quality growth stocks [7][9].

Core Viewpoint - The rise of stablecoins is becoming a critical issue globally, with countries needing to address their regulation to avoid negative impacts on their financial systems and to seize opportunities for currency globalization [1] Group 1: Importance of Stablecoins - Stablecoins are increasingly recognized as essential payment tools, with a global market size exceeding $250 billion [2] - Visa predicts that by June 2025, adjusted stablecoin payment transactions will reach 1.6 billion, amounting to $7.3 trillion [2] - Citibank estimates that stablecoin market value could reach $3.7 trillion by 2030 under optimistic scenarios [2] Group 2: Regulatory Developments - The U.S. and Hong Kong have passed legislation to regulate fiat-backed stablecoins, emphasizing their role as payment tools and differentiating them from securities [2][4] - Countries like the UK and South Korea are also incorporating stablecoins into their legislative frameworks [2] Group 3: Advantages and Risks - Stablecoins can significantly reduce cross-border transaction times from 1-5 days to minutes and lower costs from an average of 6.35% to below $1 in some regions [3] - However, stablecoins are also associated with illegal financial activities, necessitating regulatory measures to ensure financial security [3] Group 4: Sovereignty and Currency Influence - Legislation aims to protect and promote fiat currency sovereignty, as foreign stablecoins can pose risks to domestic financial systems [4] - The dominance of USD stablecoins, which account for 95% of the fiat stablecoin market, highlights the need for countries like China to develop their own stablecoins to enhance their currency's global influence [5] Group 5: Integration with Central Bank Digital Currencies (CBDCs) - China is leveraging CBDCs to address cross-border payment challenges, with the potential to complete transactions in 6-9 seconds and reduce costs by nearly half [6] - The development of offshore RMB stablecoins is seen as a way to increase the use of RMB in international payments, complementing traditional financial methods [6] Group 6: Future Development Strategies - The issuance of RMB stablecoins should focus on supporting economic development and enhancing RMB internationalization rather than competing directly with USD stablecoins [5][7] - A gradual approach is recommended for the development of RMB stablecoins, starting with offshore markets like Hong Kong before expanding to mainland China [7]

Core Viewpoint - The lithium battery industry is experiencing a surge in overseas investment plans from various manufacturers, driven by increasing domestic competition and the need for localized supply chains in foreign markets [1][2]. Group 1: Overseas Investment Plans - Companies like Zhongke Electric, Tianci Materials, and Rongbai Technology have announced significant overseas investment projects, indicating a trend of "going out" in the lithium battery supply chain [1][2]. - Zhongke Electric plans to invest up to 8 billion yuan in Oman for a lithium-ion battery anode material base with an annual capacity of 200,000 tons [2]. - Tianci Materials is set to invest approximately 2.8 million USD in Morocco for an integrated project producing 150,000 tons of electrolyte and key raw materials [2]. - Rongbai Technology and Xinzhou Bang have also revealed overseas investment plans, with Rongbai planning a 1.705 billion yuan facility in Poland and Xinzhou Bang investing up to 2.6 million USD in Malaysia [2]. Group 2: Market Potential and Demand - The penetration rate of new energy vehicles in China is projected to reach 38.9% in 2024, while major automotive production countries have significantly lower rates, indicating substantial growth potential in overseas markets [3]. - The implementation of various policies in the U.S. and EU is increasing the demand for localized supply chains, prompting lithium battery companies to accelerate overseas capacity building [3]. Group 3: Production and Profitability - Companies like CATL and EVE Energy are beginning to see profitability from their overseas operations, with CATL's German factory achieving breakeven and starting to generate profits [6]. - EVE Energy's first overseas battery base in Malaysia commenced production in February 2024, while other companies like Longpan Technology and Rongbai Technology are also reporting successful overseas operations [5][6][8]. Group 4: Challenges and Strategies - Despite the positive signals, the overall progress of overseas investments remains slow due to higher costs, funding needs, and longer return periods compared to domestic operations [9][10]. - Companies are exploring various financing options, including listings in Hong Kong, to support their overseas expansion [9]. - Local market analysis and understanding of customer needs are crucial for successful overseas operations, as evidenced by the need for stable customer orders to support production [10]. Group 5: Localization and Cultural Integration - The success of overseas operations is heavily dependent on local integration, including navigating local regulations, labor policies, and cultural differences [10][11]. - Companies like Longpan Technology are actively working on local talent development and communication strategies to enhance operational efficiency in foreign markets [10][11].

Core Insights - The competition in the robotic vacuum cleaner industry has intensified, with major players like Ecovacs, Roborock, and Xiaomi facing challenges from new entrants such as DJI, which has recently launched its robotic vacuum after four years of development [1][3] - The market is characterized by a duality of "red ocean" competition and "blue ocean" opportunities, as the current market penetration is only about 6%, indicating significant growth potential [3][4] - The price of robotic vacuums has decreased significantly during promotional events, reflecting the impact of intense competition and government subsidies [2][3] Industry Dynamics - The market is dominated by a few key players, with the top five brands holding a combined market share of 89.2% [2] - The industry is transitioning from a growth phase to a mature phase, leading to a "winner-takes-most" scenario where a small number of companies capture the majority of market share [2][3] - The overall retail sales of robotic vacuums in China are projected to reach 19.36 billion yuan in 2024, with a year-on-year growth of 41.1% [3] Technological Advancements - Companies are engaged in a "technology war" to enhance product features, such as AI obstacle avoidance and mechanical arms, while also facing a "price war" to capture market share [5][8] - The introduction of advanced features like bionic mechanical arms and AI capabilities is becoming standard in high-end products, indicating a shift in consumer expectations [6][7] - The industry is experiencing rapid technological iterations, with new functionalities being introduced frequently, although some analysts suggest that many innovations are merely incremental rather than groundbreaking [7][8] Financial Performance - Companies like Roborock have reported significant revenue growth, with a 38.03% increase in revenue to 11.945 billion yuan in 2024, although net profit has declined by 3.64% [8] - The gross margin for Roborock's robotic vacuum segment remains above 50%, despite a slight decrease, indicating that profitability is still relatively strong in the context of the competitive landscape [10] Market Strategy - Companies are increasingly focusing on international markets, with significant growth in regions like Europe and North America, where demand for cleaning appliances is high [11] - The shift from viewing robotic vacuums as mere cleaning tools to integral components of smart home ecosystems reflects a broader trend in the industry [9][10] - The competition is not just about individual products but also about establishing a foothold in the smart home ecosystem, with companies like Midea emphasizing the importance of having a robotic vacuum as part of their broader appliance offerings [10]

东方电气集团东方锅炉股份有限公司董事会定于2025年7月11日（星期五）14:00，在四川省成都市高新 西区天朗路1号公司成都工作部召开2025年第二次股东会，具体事项通知如下： 一、会议审议事项 1.审议修订《董事会议事规则》的议案 2.审议修订《股东会议事规则》的议案 二、会议出席对象 截止2025年7月7日（星期一），登记在东方锅炉股东名册下的全体股东（或股东代理人）均有权出席本 次股东会。 三、会议登记、出席 1.2025年7月9日（星期三）为本次股东会登记日。欲参加本次会议的股东，请在登记日以电话或传真方 式进行会前登记，表明参会意愿。 2.已在登记日登记并前往公司参加本次会议的股东（或股东代理人），请于会前30分钟到场，出示股东 本人身份证（代理人需出示有效身份证件及所代理股东的《授权委托书》等原件资料）进行签到，经东 方锅炉董事会办公室审核确认与中国证券登记结算公司上海分公司移交的东方锅炉股东名册一致，方可 出席会议。股东授权委托书式样见附件。 电 话：（028）81267143 传 真：（0813）220302200 联系人：牛全洲 五、其他事项 出席会议股东或股东代理人住宿及交通费自理，会期 ...

"公司将围绕'守正创新，行稳致远'的发展理念，坚定信心，团结奋进，持续在药品研发、医药商业、 日化美妆、保健食品、投资并购等方面发力，合力将片仔癀打造为世界一流、国内顶尖的医药健康产业 集团。"在股东大会首个议案董事会工作报告宣读环节，片仔癀（600436.SH）董事长林志辉向在场近五 百名股东及与会者庄重表示。 6月20日，中药行业领军企业片仔癀2024年度股东大会于漳州芗江酒店隆重召开，公司董事会、监事会 及全体高管均出席。股东大会现场吸引了三百余位股东及代表，近五百人到场参会，合计持股比例达到 56.6%。此次会议以"守正创新，行稳致远"为主题，精准概括了公司业务稳健发展并积极寻求创新突破 的现状。 本次股东大会顺利完成了2024年年度报告等7项议案的现场投票，以及听取《公司2024年度独立董事述 职报告》等议案。公司研发中心负责人陈志亮博士及"金牌讲师"夏春生先生，分别为现场参会者讲解了 公司在研发创新层面的成果与规划，以及公司覆盖药品、化妆品、口腔护理、医疗器械及保健食品的产 品矩阵。在股东问答环节，现场股东围绕核心产品价格、现金分红、营销策略、品牌声誉维护等问题踊 跃提问，公司高管也及时给予了详尽 ...

欧盟休想轻易得到他们想要的中国稀土。6月21号，德国主流媒体《商报》声称，中国正以一种"强硬且策略明确"的方式迫使欧盟作出关键让步。报纸文章 写道，中国政府已经将"所有选项"摆上了谈判桌，将稀土出口限制列为博弈筹码，迫使欧盟在技术封锁、电动车关税及中欧投资协议等多个问题上表态。 除了该报自己的评述，这个文章还援引欧盟内部人士的话称："中国目前正把稀土及其深加工产品的出口许可制度作为施压手段，向欧盟展示一个赤裸裸的 事实，要想继续拿到中国的原材料，就要付出相应的代价。此轮博弈的焦点并不止于稀土本身，而是围绕三大核心议题展开：荷兰ASML的光刻机出口限 制、对中国电动汽车加征关税以及至今悬而未决的《中欧全面投资协定》。" 虽然《商报》是自己的评述和引用的欧盟个别官员的言论，但这些言论很有代表性。在他们看来，禁止对中国出口ASML光刻机、对中国电动汽车加征关税 那是理所当然，但中国对他们限制稀土供应就是"以势压人"，与中国自己倡导的"互利共赢"言论相悖了。他们就不想一想，荷兰宣布对中国禁售光刻机、欧 盟对中国加重电动车关税不也是"以势压人"，不符合"互利共赢"的原则吗？这种双标实在太低劣了。 这一次中欧高层年度经贸 ...