测评报告显示，2024年房企融资环境转暖，房企债务重组进展加快。2024年30强上市房企融资总额为 3934.61亿元，同比增长2.02%。在长期偿债能力方面，2024年上市房企剔除预收账款后的资产负债率均 值为61.68%，与上年基本持平，净负债率均值为83.99%，较上年上升7.24个百分点。在短期偿债能力方 面，2024年上市房企流动比率均值为1.41，速动比率均值为0.53，两者与上年相比均有小幅下降。 从违约情况来看，房企违约数量持续下降。2025年以来，在政策相继落地与市场信心修复的双重加持 下，碧桂园、融创、世茂等多家房企的境外债重组迎来进展。 从拿地情况看，2024年上市房企拿地投资表现更加谨慎，10强上市房企全年新增土地价值为4093亿元。 在拿地区域方面，2024年各房企的选择趋同：一二线城市核心地块是多数房企的"优选"。头部房企依托 资金优势，持续强化对高能级城市优质土地资源的战略性增储，重点地块竞争激烈；多数中小型房企则 受制于流动性压力收缩投资半径，市场分化明显。 新华财经上海5月22日电（记者郑钧天）22日，由中国房地产业协会指导，上海易居房地产研究院、克 而瑞联合发布《2025房 ...

Core Viewpoint - Ares Capital Corporation (ARCC) is highlighted as a strong investment opportunity due to its high dividend yield of 8.7%, significantly exceeding that of the S&P 500 index, and its role in providing loans to mid-sized businesses overlooked by traditional banks [1][2]. Company Overview - Ares Capital operates as a business development corporation (BDC), which is required to distribute at least 90% of its taxable income to shareholders, making it an attractive option for high-yield income investors [3]. - The company specifically targets middle-market companies with EBITDA ranging from $10 million to $250 million, which are often underserved by traditional banks [4]. - Ares Capital has a long history, being the largest BDC in the U.S. with a 20-year lending history and has invested $160 billion since its inception [14]. Market Context - The decline in the number of banks due to consolidation and stricter regulations has led banks to focus on larger businesses, creating a lending opportunity for BDCs like Ares Capital [5]. - Ares Capital utilizes floating-rate loans, which adjust with interest rate changes, potentially increasing income and dividend payments as rates rise [6]. Credit Quality and Risk Management - Ares Capital manages credit quality by investing in first-lien or second-lien senior secured loans, which constitute 64% of its total loans, positioning it favorably during liquidation events [10]. - Currently, non-accrual loans account for just 0.9% of Ares Capital's total investments, showing stability in credit quality [9]. - The company has a diversified portfolio with 566 companies, and its largest single investment represents only 2% of the total portfolio [10]. Performance and Future Outlook - Ares Capital has delivered an annual total return of 12.9% since its founding in 2004, outperforming the S&P 500 index [12]. - The total addressable market for Ares Capital is estimated at $5.4 trillion, indicating significant growth potential as the market shifts towards alternative investments like private capital lending [14].

其中凌庄子地块为底价成交，海洋高新区地块溢价8.9%成交。 5月21日，南开区凌庄子地块和滨海新区海洋高新区地块如约摘牌。 总成交金额为23.174亿。 南开凌庄子地块 【南翠（挂）2024-41号】 摘地房企：山西建投 成交楼面价：14996元/平米 溢价率：0% | | | 第 津南翠 (挂) 2024-41 号 | | | --- | --- | --- | --- | | 士地用途 | 出让土地面积 一米) | 容积率 | 息建筑面积 (米品) | | 住宅 B | 43195.3 | 2.3 | 99012 | | 住宅 C1 | 22666.3 | 1.60 | 35980 | | 教育 C2 | 4228.1 | 0.8 | 3380 | | | 成交息价 (亿元) | | 成交楼面价 (元/平米) | | | 20.75 | | 14996 應度為為問為國的一次 | 该地块出让土地面积共70089.7平方米，分为BC两个子地块。 其中B地块为纯住宅，C地块分为两部分，C1为住宅，C2要建幼儿园。 B地块容积率2.3，C地块住宅容积率1.6。 预计高层、小高层和洋房均有。 这宗地位于南开区规划泽 ...

Group 1 - The core viewpoint of the articles highlights the strong performance of AI applications and the semiconductor industry, with the AI ETF (588760) gaining attention due to its large scale and liquidity [1][2] - Nvidia's CEO Jensen Huang stated that DeepSeek will increase AI computing demand by 100 to 1000 times, predicting that China's AI market will reach $50 billion by 2026 [1] - The AI ETF closely tracks the Shanghai Stock Exchange's AI index, which includes 30 large-cap companies providing resources, technology, and application support for the AI industry, with the top three sectors being semiconductors (53.1%), IT services (16.4%), and software development (10.3%) [1] Group 2 - As of May 21, the AI ETF (588760) has over 2.5 billion shares and a total size of 1.43 billion yuan, with over 2 billion yuan bought in the last four months [2] - The ETF has shown a daily tracking error of 0.0126% since March, ranking first among its peers in tracking error control [2] - Industry analysts believe that the continuous improvement of domestic large models is narrowing the gap with top global models, and 2025 is expected to be a breakout year for AI applications [2]

转自InFOQ 作者｜ Sebastian 编译｜傅宇琪 策划｜冬梅 早在 2002 年，Rod Johnson 就提出了对 Java 企业级开发的批判性看法，并推出了一种更加简洁、 灵活的替代方案——Spring 框架。20 多年后，这位从事编程 30 多年的元老级码农又燃起了对 Kotlin 的兴趣。那么，是什么让他弃 Java 转向 Spring？他又是如何看待 Kotlin 的未来的呢？ 最近，Rod Johnson 在播客节目中，与主持人 Sebastian 和 Márton 详细回忆了 Spring 诞生故事， 并分享了他最近重返 JVM 的历程，以及作为 Kotlin 新手的种种乐趣。基于该播客视频，InfoQ 进行 了部分增删。 核心观点如下： Spring 的诞生 Márton：Spring 是如何诞生的？ Rod： 我认为，许多成功的软件往往都源自于开发者曾经亲身经历过痛苦。因此，Spring 之所以能 够成功，其中一个原因是，最初参与 Spring 开发的许多开发者，很多是从企业应用开发领域走出来 的。 Spring 的诞生可以说有些特殊。许多核心理念，比如后来被称为"依赖注入"，我是在 ...

Meeting adjourned to June 2, 2025 at 8:30 a.m. Pacific Time Vaxart encourages all stockholders of record on March 26, 2025 who have not yet voted to do so by 11:59 p.m. Eastern Time on June 1, 2025 SOUTH SAN FRANCISCO, Calif., May 21, 2025 (GLOBE NEWSWIRE) -- Vaxart, Inc. (Nasdaq: VXRT) (“Vaxart” or the “Company”) announced today that its 2025 annual meeting of stockholders (the “Annual Meeting”) has been adjourned to Monday, June 2, 2025 at 8:30 a.m. Pacific Time with respect to all proposals described in ...

(-) Hotel RevPARs grew 1% YoY, slower than we expected, due to a 17% decline in Singapore. (-) Offer to privatize Millennium & Copthorne Hotels New Zealand ended with CDL growing its stake from 76% to 84%, below the 90% threshold for compulsory acquisition. CDL will not make another takeover offer for at least nine months from April 22, 2025. | M May 21, 2025 03:21 AM GMT | | Update | | --- | --- | --- | | City Developments Asia Pacific | Morgan Stanley Asia (Singapore) Pte.+ Wilson W Ng, CFA | | | | Equity ...

Financial Data and Key Metrics Changes - Total bookings for Q1 2025 were $511 million, reflecting a 12% year-over-year increase [22] - Total revenue reached $474 million, up 13% year-over-year, exceeding the high end of guidance [23] - Non-GAAP gross margin for Q1 was 69%, consistent with expectations [26] - Free cash flow for Q1 was over $142 million, representing 30% of revenue [27] Business Line Data and Key Metrics Changes - Partners revenue grew 24% year-over-year to $172 million, driven by increased subscription purchases and adoption of business applications [23] - Transaction revenue in Q1 was $59 million, up 19% year-over-year, supported by increasing GPV and improved take rates [24] - Core GPV growth, excluding the impact of a small subsidiary, was 12% year-over-year in constant currency [25] Market Data and Key Metrics Changes - The new user cohort generated $36 million in bookings, a 12% increase over the previous year's cohort [14] - Nearly 5.3 million new users were added in Q1, representing a 7% year-over-year increase [16] - The company maintained a high proportion of high-intent and commerce-oriented users, indicating strong demand in key geographic regions [16] Company Strategy and Development Direction - The company launched Wixl, a new visual design platform, aiming to democratize visual design similar to how Wix democratized website building [6][8] - The introduction of Astra, an AI assistant, is expected to enhance user engagement and reduce churn [11] - The company is focused on continuous product innovation and strategic momentum aligned with long-term growth [5][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong demand trends observed in early 2025, with expectations for continued growth in new cohorts [19] - There is a cautious outlook regarding macroeconomic uncertainties, particularly affecting the Business Solutions segment [20] - The company aims to achieve a time to return on investment of four to five months for the Q1 2025 user cohort, indicating effective acquisition strategies [17] Other Important Information - The board authorized an additional $200 million for share repurchases, reflecting confidence in cash flow generation and commitment to shareholder value [29] - The company expects total revenue for Q2 to be between $485 million and $489 million, representing 11% to 12% year-over-year growth [28] Q&A Session Summary Question: Can you provide more details on Wixl's rollout and monetization expectations? - Management indicated that Wixl is in early stages, with plans for separate subscription pricing and partnerships to drive user acquisition [32][35] Question: What are the factors behind the deceleration in partners revenue growth? - Management noted that FX impacts and lower-than-expected GPV growth contributed to the deceleration, but remains optimistic about future growth [53][55] Question: How does the company view the competitive landscape for design software? - Management believes that Wix's focus on future-oriented AI capabilities differentiates it from traditional design tools, which may struggle to adapt [60][62] Question: What are the expectations for free cash flow margins throughout the year? - Management anticipates a modest increase in free cash flow margins, driven by revenue growth and operational efficiencies [47] Question: How does the company plan to address macroeconomic uncertainties in guidance? - Management emphasized the importance of conservatism in guidance due to unpredictable macro factors, while remaining confident in current demand trends [49]

Core Points - Hepsor AS held its annual general meeting on May 21, 2025, with 35 shareholders representing 76.84% of the votes [4] - The company approved its 2024 annual report and decided on the distribution of profits [5][6] Financial Summary - Retained earnings from previous periods amount to €7,836 thousand, with a net profit of €423 thousand for 2024, leading to a total distributable profit of €8,259 thousand [6] - A dividend of €0.26 per share will be paid, totaling €1,002 thousand to shareholders, while retained earnings of €7,257 thousand will not be distributed [9] Governance Changes - Lauri Meidla will resign from the supervisory board effective July 31, 2025, and Henri Laks was elected as a new member, starting from August 1, 2025 [7] - The remuneration for supervisory board members was set at €1,000 gross per month, with the chairman receiving €8,000 gross per month, effective August 1, 2025 [8] Company Overview - Hepsor AS is a developer of residential and commercial real estate operating in Estonia, Latvia, and Canada, with a portfolio of 25 development projects totaling 172,800 m² [10]

Core Insights - BioHarvest Sciences Inc. has secured a new contract for developing a plant-based fragrance compound, targeting the multi-billion-dollar fragrance and scents market [1][3] - The contract will utilize the company's proprietary Botanical Synthesis technology and advanced AI-assisted research capabilities to identify specific plant species for efficient production [2][4] - The agreement includes milestone-based payments and a non-disclosure agreement for the initial stage of the project [3] Company Overview - BioHarvest is a leader in Botanical Synthesis, leveraging patented technology to grow plant-based compounds without the need for the actual plants [5] - The company operates in two major business verticals: as a contract development and manufacturing organization (CDMO) and as a creator of proprietary nutraceutical health and wellness products [5][6] - The CEO emphasized the contract's potential to expand the company's reach into the high-value fragrance space while contributing to the conservation of threatened plant species [4]