法国一季度经济微增，但仍面临贸易冲击 金十数据4月30日讯，法国经济在年初恢复了增长，但由于全球贸易紧张局势的影响，经济进入了一个 更加艰难的环境，增长动力不足。法国国家统计与经济研究所称，第一季度GDP较前三个月增长了 0.1%。增长完全得益于库存增加，而国内需求停滞不前，贸易也带来了负面影响。总体小幅增长符合 分析师的预期，但当前经济评估尚难反映特朗普关税影响，因为大部分关税是在4月2日才宣布的。美国 贸易威胁引发的动荡已迫使法国政府将今年增长预期从0.9%下调至0.7%，并推出更多支出削减以控制 预算赤字。此前因政治危机导致2025年财政措施推迟实施，加之潜在增税带来的不确定性，已对经济造 成干扰。一季度数据显示企业、家庭及公共部门投资全面下降，出口环比下降0.7%。 ...

Core Viewpoint - The company reported a decline in revenue and net profit for the first quarter of 2025, indicating challenges in its operational performance compared to the previous year [5][6]. Financial Performance - The company achieved operating revenue of 279,490.16 million yuan, a year-on-year decrease of 15.06% [5]. - The net profit attributable to shareholders was 80,341.50 million yuan, down 13.33% year-on-year [5]. - The fashion segment generated revenue of 199,806.35 million yuan, reflecting an increase of 8.27% year-on-year, with the brand clothing business contributing 181,687.05 million yuan, up 13.17% [6]. - The net profit from the fashion segment was 18,808.67 million yuan, which decreased by 32.70% due to rising costs and expenses [6]. - The real estate segment had no new projects launched, with pre-sales of 27,639.17 million yuan, down 80.10% year-on-year, and revenue recognition of 78,922.20 million yuan, down 46.01% [8]. - The net profit from the real estate segment was 3,794.73 million yuan, a decline of 70.92% [8]. - Investment business net profit was 57,738.10 million yuan, showing a growth of 11.68% [9]. Strategic Initiatives - The company continued to implement its "large store strategy," opening 23 new self-operated stores and closing 18, resulting in a total of 1,876 self-operated stores with a total area of 50.97 million square meters [7].

智通财经4月29日电，*ST九有(600462.SH)公告称，公司于2025年4月29日收到上海证券交易所上市公司 管理二部下发的《关于拟终止湖北九有投资股份有限公司股票上市的事先告知书》，因公司2024年度财 务会计报告和内部控制报告均被出具无法表示意见的审计报告，公司股票已触及终止上市条件。上海证 券交易所将根据相关规定对公司股票作出终止上市的决定。 *ST九有：收到拟终止公司股票上市的事先告知书 ...

Financial Performance - The basic earnings per share for 2024 is 0.2200 yuan, a decrease of 35.29% compared to 0.3400 yuan in 2023 [1] - The net profit for 2024 is 1.62 billion yuan, down 36.22% from 2.54 billion yuan in 2023 [1] - The return on equity for 2024 is 3.48%, a decline of 37.41% from 5.56% in 2023 [1] - The operating revenue for 2024 is 0.84 billion yuan, an increase of 5% from 0.8 billion yuan in 2023 [1] Shareholder Structure - The top ten unrestricted shareholders hold a total of 54,040.65 million shares, accounting for 72.6% of the circulating shares, with a decrease of 258.25 million shares compared to the previous period [1] - Shandong Lushin Investment Holding Group Co., Ltd. remains the largest shareholder with 51,786.19 million shares, representing 69.57% of total share capital [2] - Hong Kong Central Clearing Limited has reduced its holdings by 72.66 million shares, now holding 422.62 million shares [2] Dividend Distribution - The company has announced a dividend distribution plan of 0.7 yuan per share (including tax) [2]

为更好地对母基金在中国资本市场里所发挥的重要作用进行系统研究，发挥政府出资产业投资 基金等的资源和战略优势，加强政府对社会资本的管理和引导，促进社会资本流向创新创业型 企业和实体经济，推动中国投资行业特别是母基金行业的健康发展， "中国国际科技促进会母 基金分会"（简称"科促会母基金分会"）成立。科促会母基金分会领导班子所在机构及参会机 构共 8 2 家，科促会母基金分会于每周二更新相关机构的一周资讯。 【内容提要】 1 .这支国家级母基金又出手了 7 . 上海交易集团一行来绍考察调研 近日，江夏科投集团联合知名投资机构国投创业，共同完成对无锡智现未来科技有限公司（以 下简称 "智现未来"）的A轮投资，本轮总投资规模超亿元人民币。此次投资通过江夏区创业投 资基金直投，资金将用于进一步强化智现未来在设备监测、分析建模、工艺控制、良率改进等 方面的领先优势，重点推进生成式人工智能技术在半导体制造全流程中的应用落地和范式创 新，并助力国产半导体生态的协同优化。 8 . 国投集团所属国经环保基金公司与中国航发集团航发基金公司开展业务交流洽谈 智现未来为泛半导体制造产业提供良率、生产效率和产出的全面管理，主要产品包括经 ...

Group 1 - Major companies including Nvidia, Johnson & Johnson, Hyundai Motor, Toyota, and SoftBank are gathering at the White House for an "Invest in America" promotional event [1] - President Trump aims to showcase significant investments in defense, technology, healthcare, consumer goods, and large investment funds during his first 100 days in office [1] - The Trump administration is pushing for a "manufacturing return to America" policy through tariffs and trade negotiations to encourage domestic manufacturing [1] Group 2 - The U.S. government has initiated a new round of global trade wars, imposing tariffs on various goods, raising concerns among U.S. airlines, aerospace companies, automakers, and retail giants about the impact on manufacturing and sales [2] - Nvidia's CEO announced plans to invest hundreds of billions in U.S.-made core chips and high-end electronic devices over the next four years, shifting focus from traditional semiconductor suppliers [2] - The White House highlighted commitments from major companies like TSMC, Nvidia, Apple, and Roche to invest in U.S. manufacturing, reflecting confidence in the U.S. economy and dollar assets [2] Group 3 - General Motors is considering a $60 billion investment in U.S. manufacturing but requires clarity and consistency in trade policies before making decisions [3] - The Trump administration's 25% tariff on foreign-made vehicles has taken effect, impacting global automakers and potentially leading to significant price increases for consumers [3] - A new tariff measure affecting nearly 150 categories of automotive parts will come into effect on May 3, covering essential components like engines and batteries [4] Group 4 - Trump is reportedly planning to exempt certain automakers from the most stringent tariffs, a move seen as a concession following lobbying from the automotive industry [5] - The administration's investment plan includes $500 billion for AI infrastructure, aiming to surpass competitors like China in this critical technology sector [5] - Hyundai Motor announced a $21 billion investment in the U.S., including a $5.8 billion steel manufacturing plant in Louisiana, creating over 1,400 jobs [6]

Core Viewpoint - The company reported a decline in both revenue and net profit for 2024, primarily due to the impact of capital market fluctuations on its investment business, despite stable performance in its automotive and metal communication components sectors [1][7]. Automotive Components Business - The automotive components business, managed by subsidiaries, has sufficient production capacity to meet existing customer demands, but customer expansion is slow, with core clients being SAIC Volkswagen and some regional electric vehicle manufacturers [4]. - The business model of "sales determine production" and "production determine procurement" effectively controls costs but may lead to decreased capacity utilization during market demand fluctuations, impacting profitability [4]. - The company plans to leverage the new energy vehicle and battery shell industry chain for technological upgrades and business development, but the current lack of customer diversity limits growth [4]. Metal and Communication Components Business - This segment is primarily export-oriented, serving major clients like Jabil, Schneider Electric, and Makita, and has shown stable operations due to scale production capabilities and a robust quality control system [4]. - However, uncertainties in the international trade environment, particularly U.S.-China trade tensions, pose risks to export operations [5]. - The use of ExWorks (EXW) settlement may increase financial risks due to significant exchange rate fluctuations [6]. Investment Business - The investment business, conducted through a wholly-owned subsidiary, has seen reduced returns due to capital market volatility, which has negatively affected overall company performance [7]. - Despite aligning investments with national development priorities, the unpredictable nature of the capital market creates significant uncertainty in investment returns [7]. - The company needs to enhance industry analysis and post-investment management to ensure stable exits and sustainable development while optimizing investment strategies to mitigate market volatility impacts [7]. Overall Performance Outlook - The company faces challenges with declining revenue and profit in 2024, with stable performance in automotive and metal communication components overshadowed by the volatility in the investment business [7]. - Future strategies should focus on customer expansion, production model optimization, and investment strategy adjustments to adapt to market changes and achieve steady growth [7].

一、主要会计数据和财务指标 | 报告期指标 | 2025年一季报 | 2024年一季报 | 本年比上年增减(%) | 2023年一季报 | | --- | --- | --- | --- | --- | | 基本每股收益（元） | -0.0767 | 0.0120 | -739.17 | -0.0533 | | 每股净资产（元） | 5.98 | 6.68 | -10.48 | 6.68 | | 每股公积金(元) | 0.45 | 0.44 | 2.27 | 0.43 | | 每股未分配利润(元) | 3.95 | 4.66 | -15.24 | 4.72 | | 每股经营现金流(元) | - | - | - | - | | 营业收入(亿元) | 0.38 | 0.5 | -24 | 0.12 | | 净利润(亿元) | -0.33 | 0.05 | -760 | -0.23 | | 净资产收益率(%) | -1.27 | 0.18 | -805.56 | -0.79 | | 名称 | 持有数量(万股) | 占总股本比例(%) | 增减情况(万股) | | --- | --- | --- | --- | | ...

发行规则：Reg S 类型：固定利率、高级无抵押债券 币种：人民币 久期财经讯，博兴县财金投资集团有限公司(BOXING FINANCIAL INVESTMENT GROUP CO., LTD.， 简称"博兴财金投资集团")对BXCAIJ 7 04/14/28进行增发。(PRICED) 条款如下： 发行人：博兴县财金投资集团有限公司 预期发行评级：无评级 控制权变更回售：101% 交割日：2025年4月30日 到期日：2028年4月14日 资金用途：根据国家发改委证书，用于项目建设和补充运营资本 互换：在增发债券发行后，可立即与原始债券互换，并合并形成单一系列 其他条款：MOX澳交所上市;最小面额/增量为100万人民币/1万人民币;英国法 增发规模：1.7亿人民币 最终指导价：7.116697%，加上自2025年4月14日(含)至2025年4月30日(不含)的应计利息 增发收益率：7.116697% 增发价格：99.688888 原始债券：于2028年4月14日到期的、规模为5.505亿人民币、息票率为7%的债券(ISIN：XS3045025684) 联席牵头经办人和联席账簿管理人：光银国际(B&D)、格理昂 ...

以下文章来源于清科研究 ，作者创造价值的 清科研究 . 清科创业（01945.HK）旗下清科研究中心致力于为众多的有限合伙人、VC/PE机构、战略投资者、以 及政府机构、律师事务所、会计事务所、投资银行、研究机构等提供专业的信息、数据、研究和咨询服 务。 降幅收窄。 作者 | 清科研究 来源 | 清科研究 （ID：pedata2017） 2 0 25年第一季度中国股权投资市场整体延续下滑态势，但下降幅度有所收窄，回暖复苏 迹象已现。 募资方面，202 5年第一季度募资新募集基金数量和规模分别为9 9 2只，3 , 4 7 0 . 8 4亿元， 同 比 下 滑 幅 度 均 为 2 . 9% 。 剔 除 房 地 产 、 基 础 设 施 投 资 基 金 后 ， 本 季 度 新 募 基 金 规 模 为 3 , 261.05亿元人民币，同比上升17.6%。分币种看，外币基金募资仍维持低位，第一季 度共仅有4只外币基金完成新一轮募集，募资规模约为4 5亿元人民币，同比降幅均超过 7 0%。 投资方面，2025年第一季度投资案例数止跌回升，共发生2,329起投资案例，同比上升 1 2 .2%；披露投资金额1,398.24亿 ...