【要闻速递】 美欧7月贸易协议未止摩擦。8月美国对欧盟超400种钢铝加征50%关税，并指责欧盟数字监管加码。今 年欧盟依《数字服务法案》《数字市场法案》严管美企：9月罚谷歌29.5亿欧元，10月认定元宇宙违 规，11月再查谷歌搜索公平性，近期评估亚马逊、微软是否为云"守门人"，或2025年底对X开全球营收 6%罚单。 美批欧盟监管针对美企，谷歌、亚马逊拟上诉。特朗普8月威胁对"损害美企"国加税。11月美商务部长 卢特尼克将数字监管与钢铝关税挂钩，逼欧盟调整规则换降税。钢铝关税涉欧盟数十亿美元出口，能源 与绿色转型下，加税威胁钢企生存。 专家指美抓欧盟传统产业"软肋"撬监管松绑，欧盟陷两难：让步引政治反弹，强硬受贸易冲击。因欧盟 更急降税，美筹码增并开启"跨议题"谈判。欧盟战略自主空间有限，是否让步尚难定论。 摘要今日周三(12月3日)亚盘时段，现货黄金目前交投于4228美元附近，截至发稿，现货黄金最新报 4215.24美元/盎司，涨幅0.23%，最高上探至4228.57美元/盎司，最低触及4201.67美元/盎司。目前来 看，现货黄金短线偏向震荡走势。 今日周三(12月3日)亚盘时段，现货黄金目前交投于422 ...

美国已多次批评欧盟监管举措是针对美国企业。谷歌、亚马逊公司等近日均表示对欧盟有关裁决持异 议，将提起上诉。美国总统特朗普8月底在"真实社交"平台上威胁称，要对实施数字税和数字监管及"损 害或歧视美国科技公司"的国家加征"额外关税"。 11月底，美国商务部长卢特尼克在与欧盟贸易官员会谈后，公开将数字监管与钢铝关税挂钩。卢特尼克 说，欧盟若想让美国下调对其钢铁和铝产品的关税，就必须先调整其针对科技企业的监管规则。 新华财经布鲁塞尔12月3日电（记者张馨文丁英华康逸）近日，美欧围绕数字监管再生摩擦。美国指责 欧盟监管对美科技企业不公平，并用钢铝产品关税为筹码要求欧盟"松绑"；欧盟则抨击美国此举是"勒 索"，坚持数字法规关乎主权不容挑战。 分析人士认为，美国为维持全球数字产业霸主地位，试图用关税筹码逼迫欧盟让步，欧盟陷入维护数字 主权和挽救钢铝产业的两难之境，战略自主空间有限。 美欧围绕数字监管"掐架" 欧盟和美国7月达成贸易协议后，双方经贸摩擦并未平息。美国8月对欧盟超过400种钢铁和铝产品加征 50%的关税，同时高调指责欧盟对美科技企业不断加码的数字监管。 今年以来，欧盟依据《数字服务法案》和《数字市场法案》，对 ...

Core Insights - The signing of the China-ASEAN Free Trade Area 3.0 upgrade protocol marks a new phase of economic cooperation that is more open, efficient, and modernized [1] - In 2024, the bilateral trade volume between China and ASEAN is projected to reach $982.3 billion, a 17-fold increase since the establishment of the free trade area in 2002 [1] Group 1: Trade and Economic Cooperation - The 3.0 version of the agreement addresses the diverse trade and investment needs of ASEAN economies by enhancing rule alignment and standard recognition, facilitating traditional trade [2] - The cooperation has evolved from "vertical division of labor" to "three-dimensional collaboration," linking China's high-end manufacturing with ASEAN's intermediate goods processing [2] - The integration of digital and green economies into the agreement creates new cooperation opportunities for economies at different development stages [2] Group 2: Emerging Fields and Industry Outlook - Future cooperation will focus on deep integration in the digital economy and comprehensive collaboration in the green economy [3] - The renewable energy, digital services, and modern agriculture sectors are highlighted as key areas for growth, with expectations for continued expansion in these fields [4] Group 3: Benefits for SMEs - The 3.0 version is expected to bring multiple benefits to enterprises, particularly small and medium-sized enterprises (SMEs), through simplified customs procedures and mutual recognition of standards [5] - A dedicated chapter for SMEs in the agreement aims to create a comprehensive support system, reducing cross-border transaction costs and facilitating better integration into regional value chains [5] Group 4: New Cooperation Models - Three innovative cooperation models are anticipated to inject new momentum into regional development: "co-creating rules and industries," "cross-border parks and capacity building," and "digital platforms for inclusive trade" [6][7] - These models aim to enhance collaboration between China and ASEAN, providing a more inclusive paradigm for global free trade agreements and addressing global development imbalances [7]

2025年11月26日，在布鲁塞尔欧盟总部举行的闭门会议刚刚结束，一则突如其来的消息立即在全球范围内引发热议。欧盟27国联合向美国递交了一份备忘 录，表示愿意在经贸领域全面配合美方，甚至不惜主动切断与中国的相关合作，以此换取美国在钢铝关税问题上的让步。然而，这份充满"示好"意味的声明 还未完全冷却，特朗普团队却突然向中国释放友好信号，宣布重启部分中美贸易合作谈判，并准备简化中国商品进入美国的流程。这样的突然反转，让欧盟 27国瞬间陷入尴尬，被全球视作"用力过猛却被晾在一边"的典型例子。 事情之所以会发展成这样，源头在于美国不断加码的钢铝关税压力。美国方面近期 透露，将进一步扩大钢铝关税的征收范围，这无疑直接击中了欧洲制造业的要害。因为钢铁和铝材是欧洲汽车、机械制造、航空航天等主要产业最关键的基 础材料，美国的关税政策已经对欧洲相关企业造成巨大冲击。为了促使美方做出让步，欧盟27国可谓是竭尽全力。自今年年初以来，欧盟对美国的投资增长 了超过1500亿欧元，而美国在欧洲液化天然气进口市场中的份额也从45%飙升到60%。即便如此，欧盟仍担心不够，干脆把"中国牌"作为最终筹码，在谈判 中不断强调所谓"共同竞争对手"， ...

Core Viewpoint - Boston Partners increased its stake in Stagwell Inc. by 40.9% in Q2, indicating growing institutional interest in the company [2] Institutional Investment - Boston Partners now owns 3,273,852 shares of Stagwell, valued at approximately $15.5 million, after acquiring an additional 950,913 shares [2] - Other institutional investors, such as ABLE Financial Group LLC and Geode Capital Management LLC, also increased their positions in Stagwell, with Geode raising its stake by 23.6% [2] - Currently, 35.61% of Stagwell's stock is owned by institutional investors and hedge funds [2] Price Performance - Stagwell's shares opened at $5.37, with a 50-day moving average of $5.17 and a 200-day moving average of $5.09 [3] - The stock has a market capitalization of $1.35 billion, a P/E ratio of 89.50, and a beta of 1.51 [3] Earnings Report - Stagwell reported $0.24 earnings per share (EPS) for the latest quarter, beating analysts' expectations of $0.23 [4] - The company's revenue for the quarter was $743 million, reflecting a year-over-year increase of 4.5% [4] - Stagwell has set its FY 2025 EPS guidance at 0.750-0.880 [4] Analyst Ratings - Morgan Stanley lowered its price target for Stagwell from $8.00 to $7.00, while Needham & Company raised it from $6.36 to $7.25 [5] - The average target price for Stagwell is currently $8.15, with an average rating of "Moderate Buy" [5] Company Overview - Stagwell Inc. specializes in digital transformation, performance media, consumer insights, and communications services [6] - The company operates through three segments: Integrated Agencies Network, Brand Performance Network, and Communications Network [6]

Core Viewpoint - Ningbo Haishangxian Information Technology Co., Ltd. (referred to as Haishangxian) has submitted an application to list on the Hong Kong Stock Exchange, with SUNNY FORTUNE acting as the sole sponsor [1]. Company Overview - Haishangxian is a leading provider of digital solutions and services for the marine fishery industry in China, focusing on seafood and utilizing an online-to-offline sales model [3]. - The company’s headquarters is located in Fenghua District, Zhejiang Province, a marine fishery hub, and it has established operations in major fishing ports across Zhejiang, Fujian, Shandong, Liaoning, Jilin, and Guangxi [3]. Product and Service Offering - The HSX APP has evolved into a data-driven digital B2B marine fishery marketplace, with over 50,000 registered users as of August 31, 2025 [3]. - The app provides users with instant access to useful content, including seafood market trends, catch data, and marine weather conditions, and serves as a portal for various services along the marine fishery supply chain [3]. Government Contracts and Innovations - In 2021, the company was awarded a contract by the Fenghua government to develop the "Zheli Huiyu APP," the first government-owned satellite-based fishing vessel monitoring system [4]. - The company has expanded its monitoring system offerings to local fishermen in Fujian Province and other designated areas [4]. Financial Performance - The company reported revenues of approximately RMB 1.427 billion, RMB 914 million, RMB 1.006 billion, RMB 627 million, and RMB 579 million for the fiscal years 2022, 2023, 2024, and the first eight months of 2024 and 2025, respectively [4][6]. - Net profits for the same periods were RMB 34.12 million, RMB 35.80 million, RMB 43.87 million, RMB 3.85 million, and RMB 38.43 million [4][6].

Core Viewpoint - The 2025 Global Digital Economy Conference emphasizes the importance of strengthening multilateral cooperation, focusing on data security compliance, and promoting collaborative governance to build an open, trustworthy, and sustainable digital cooperation ecosystem [1]. Group 1: Digital Economy and Data Security - The global digital economy is reshaping development patterns with unprecedented breadth and depth, where data has become a key production factor driving a new round of economic growth [1]. - Small and medium-sized enterprises (SMEs) face challenges such as market selection difficulties, strict compliance requirements, and cumbersome implementation processes when expanding internationally, with a lack of digital trust and data security risks posing significant threats [1]. Group 2: Initiatives and Collaborations - The "APEC SME Information Technology Promotion Center Shanghai Office (under preparation)" was inaugurated, aiming to promote the information technology development of SMEs in the Asia-Pacific region [1]. - A strategic cooperation agreement was signed between the Hong Kong Cooperation Digital Ecology Exchange Association and JD Technology Group, indicating a collaborative effort to support SMEs in their international ventures [1]. Group 3: Local Development and Policy Framework - Putuo District is actively constructing an open and collaborative digital ecosystem, launching special policies for data development and establishing a digital public service network centered around Haina Town [2]. - Shanghai is exploring data security governance paths suitable for megacity characteristics, having implemented a comprehensive responsibility mechanism for data collection, ownership, operation, and usage [2]. Group 4: Expert Discussions - Experts from institutions such as Fudan University and the Shanghai Big Data Center engaged in discussions on strategies and experiences for building a digital trust cooperation system within the context of dual circulation development in the digital economy [3].

Core Points - The Colombian Ministry of Finance and Congress have resumed discussions on tax reform, focusing on adjustments to consumption tax rates and the elimination of certain fuel taxes while increasing taxes on alcohol, tobacco, and digital services [1] Group 1: Tax Reform Proposals - The original plan to impose a fuel tax aimed at generating 26 billion pesos (approximately $69,500) has been removed from the proposal [1] - The tax rate on digital services provided by foreign platforms will increase from 3% to 4.5%, and small imported goods will gradually be subject to value-added tax (VAT) [1] - Consumption tax on tobacco products will be expanded to include e-cigarettes and heated tobacco products, with annual adjustments based on inflation [1] Group 2: Impact on Specific Sectors - The consumption tax for the restaurant industry will also be increased in phases [1] - To promote regional tourism, hotels in towns with populations under 200,000 will receive a four-year VAT exemption, allowing related businesses to benefit from refunds and compensations [1]

Core Viewpoint - The rapid development of technology and the widespread adoption of internet technology are transforming the consumer market, leading to the emergence of new consumption concepts and methods. Digital operations, utilizing big data, cloud computing, and artificial intelligence, are becoming essential for businesses to enhance competitiveness [1][8]. Group 1: Digital Transformation and Business Model - Jiangping Wealthy Merchant Digital Service Platform aims to break the limitations of traditional e-commerce platforms, providing a fair, transparent, and efficient digital operating environment for merchants and consumers [1][3]. - The platform promotes a new consumption model that emphasizes partnership and shareholder concepts, creating a win-win situation among consumers, merchants, and the platform [1][6]. - The company has developed an independent app and e-commerce platform, achieving deep integration of online and offline sales networks across the country [3][5]. Group 2: Health Beverage Sector - Jiangping Wealthy Merchant has expanded into the health beverage sector, becoming the national operating center for Guoyao Tianhong Baicao Qi Yu 7+1 craft beer, which is enriched with various health-promoting ingredients [3][5]. - The beer is positioned as a health drink suitable for the Chinese market, combining traditional brewing techniques with modern health concepts, developed over eight years by a large research team [3][5]. Group 3: Supply Chain and Marketing Strategy - The company has established a strong raw material supply chain and built cloud warehouses for rapid nationwide delivery, enhancing consumer experience with convenient one-piece shipping [5][8]. - Jiangping Wealthy Merchant collaborates with numerous hotels and specialty beverage stores in key regions, employing direct market expansion strategies and recruiting over 100 agents to enhance distribution [5][6]. Group 4: Consumer Engagement and Investment Opportunities - The consumption partner system allows consumers to view spending as an investment opportunity, transforming traditional shopping habits and promoting wealth growth through consumption [6][8]. - The company aims to help small and medium-sized enterprises achieve digital transformation, addressing challenges in survival, sales, and development while fostering a new economic model [8].

Core Insights - The National Internet Information Office has officially released the 14th batch of deep synthesis service algorithm filings, with Shanghai Yingfan Digital Technology Co., Ltd. successfully registering its "CBNData Consumer Category Trend Tracking Model Algorithm" [1] - This marks the second successful filing for Yingfan Technology this year, following the registration of the "Wanyou Financial Information Generation Algorithm" in March, indicating significant progress in algorithm development and compliance management [1][4] - The "CBNData Consumer Category Trend Tracking Model Algorithm" focuses on in-depth research of consumer trends, demonstrating advanced understanding and learning capabilities in specialized terminology and industry trends [1][4] Company Developments - Yingfan Technology has established a multi-dimensional service model around data elements and artificial intelligence technology, with over 40 self-developed vertical models, nearly 70% of which have achieved localized deployment [4] - The company has obtained over a hundred national invention patents and software copyrights, developed more than 20 intelligent products, and completed three data (product) intellectual property registrations [4] - In September, Yingfan Technology announced the completion of a 100 million yuan Series A financing round, clarifying its future development strategy centered on "AI for Infinity" [6] Industry Positioning - As a leading digital growth service group in China, Yingfan Technology is focused on deep exploration and efficient utilization of data elements, leveraging cutting-edge technology and high-quality products to provide comprehensive digital growth services [6] - The company actively expands into digital finance, digital consumption, digital culture, and digital health sectors, utilizing a combination of general models, vertical models, and expert models in AI applications [1][6]