特朗普最近在一段采访中透露，6月通过加征关税，美国从中获得了250亿美元的收入。他特别指出，这一收入主要来源于汽车、钢铁、铝材以及少量木材等 领域。特朗普进一步补充说，这笔收入仅是一个小部分，真正的收入将在接下来的几周内到来。这意味着，从7月7日之后，特朗普启动的第二轮关税，将会 为美国带来更多的资金流入。 目前，特朗普已对24个国家以及欧盟（27个成员国）加征了20%至50%不等的关税，这一关税水平明显高于他在4月2日提出的"对等关税"政策。这些新的关 税将在8月1日生效，但在这之前，仍然存在与美国进行谈判的机会。而对于某些国家来说，可能会采取反制措施。比如巴西，已经通过"退信、谈判、反 制"三步来应对50%的关税，如果谈判不成，将实施同等反制措施。欧盟则表示，如果无法达成协议，将对720亿欧元的美国商品加征额外关税。尽管欧盟希 望避免关税战，但他们也已做好反击的准备。 除了巴西和欧盟，日本、墨西哥等国家也表示将与美国进行进一步谈判。尽管特朗普已对24个国家及欧盟宣布加征关税，但其中仍有一个例外——印度。此 前，虽然加拿大、欧盟和印度曾表示要反制美国的关税，但特朗普并未立即对印度加征关税。直到最近，特朗普才 ...

管理费用中，检测费用、配送费用、仓储费用分别为每瓶0.6/0.25/0.67元。管理费用小计1.52元/瓶。 近日，许昌胖东来超市官方视频号公布胖东来与酒鬼酒（000799）合作开发的52度"酒鬼-自由爱"馥郁 香型白酒于7月19日上市。当中还披露了该产品的成本，显示产品售价200元/瓶。产品综合成本168.26 元，产品毛利31.74元，产品毛利率15.87%。 其中，产品成本小计155元，当中供价115.34元，产品费用及税金39.66元。 整体开发成本小计13.26元/瓶。当中开发费用类别里，研发费用0.98元/瓶，财务费用4.96元/瓶，增值税 费5.18元/瓶，附加税费0.62元/瓶，开发费用小计11.74元/瓶。 酒的品质提升方面，提升包装设计细节、色彩，往国际化产品品质上进步。省去营销管理费用和市场广 告推广费，让产品利润更合理，让价格更实在。 另据酒鬼酒早前发布的2025 年半年度业绩预告。公司预计上半年归属净利润800万元 - 1200万元，同比 下降90.08% - 93.39%。实现营业收入5.6亿元左右，较上年同期下降43%左右。彼时，谈及下半年积极 改善业绩的规划，酒鬼酒称，会积极开 ...

Core Viewpoint - The article emphasizes the importance of technological advancements in transforming agriculture into a more sustainable and resilient industry, focusing on the entire agricultural supply chain from production to consumption [1][2]. Group 1: Technological Empowerment - The global agricultural sector faces challenges from resource constraints and environmental pressures, leading to a consensus on the need for green, low-carbon, and sustainable agricultural practices. Biopesticides, derived from natural sources like Norwegian seaweed, are highlighted as a significant market opportunity [3]. - Syngenta Group has developed a series of biopesticides that enhance crop photosynthesis, balance internal hormone levels, and promote flowering and fruiting, resulting in increased crop yield and quality. These products have been promoted on over 12 million acres in China [3]. - The lightweight packaging in the food and beverage industry is crucial for achieving carbon reduction goals. For instance, switching to lightweight beer bottles can reduce CO2 emissions by approximately 54,600 tons annually if fully adopted [3]. Group 2: Supply Chain Resilience - Recent geopolitical conflicts, extreme weather events, and rising protectionism have exposed vulnerabilities in global food supply chains, making it essential to ensure the stability and self-sufficiency of key agricultural product supply chains. The 2025 Central Document No. 1 emphasizes enhancing the supply guarantee capabilities for important agricultural products [5]. - China relies heavily on imports for barley, a key ingredient in beer production, with over 90% of its beer barley sourced from abroad. This dependency poses risks amid global trade disputes [5]. - The Chinese government is implementing policies to strengthen food security, with a focus on technological empowerment in agriculture, including the establishment of smart farms and enhancing domestic grain production capabilities [5][6]. Group 3: Open Cooperation - Agricultural trade is a vital component of China's foreign trade, with the country being the world's largest importer and the fifth-largest exporter of agricultural products. China engages in agricultural trade with over 220 countries and has signed cooperation agreements with 125 nations [8]. - McDonald's China showcased 11 supply chain partners at the expo, highlighting the collaboration between local and international companies to enhance agricultural trade. The integration of local firms into global supply chains is emphasized as a growth opportunity [8]. - The Chinese government is focused on creating a robust framework for food security, which will provide new opportunities for international agricultural trade cooperation. Recommendations include building inclusive trade rules and fostering deep integration of technology and agriculture [8].

特朗普又来了。这次，他拿着一张250亿美元的"成绩单"在镜头前晃来晃去，一脸得意地宣布，美国靠关税刚从全世界捞了250亿。更刺激的是，他还放话， 几周后还要收一波更大的。这气势，就像赌场老板手里正数着筹码，下一把准备加倍下注。 特朗普的算盘很简单：用钢铁、铝、汽车这些硬通货狠狠加税，对着24个国家加码，连欧盟这二十多个"小伙伴"也没放过，关税水平直接拉高到20%甚至 50%。 相比4月份那点"对等关税"，这次升级不少。别看特朗普嘴上说"谈判大门还开着"，但谁都明白，这门槛顶着8月1日的大限，不服就得真刀真枪干一场。 冷静看看这一局，熟悉的套路再现。巴西硬刚，先退信、再谈判，实在不行就同等报复；欧盟表面绅士，私底下掂量着720亿欧元的反击筹码，嘴上说"还想 和平"，底气却告诉对方"敢来就接着"。 美国这一出高压加讨价还价，把老对手和旧朋友一锅乱炖——这还仅仅只是个开始。 最有意思的是印度。前一阵因为反制风声没被点名，特朗普却突然口风一变，"可能"很快要和印度签"特殊协议"；印尼则直接签了19%关税的交易，美国出 口印尼全免，"这价码，印度要比印尼还低才行。"这算盘打得够精明。对比英国、越南，19%、20%、40 ...

一、央妈突发利好！央行以固定利率招标方式开展1.4万亿元买断式逆回购操作，创近三个月单日投放新高，直接缓解市场对"资产荒"的担忧。第二个利 好：6月末，社融数据超预期。央行还表示已经实施的货币政策的效果还会进一步显现。 怎么看这未来盘面都不是差的样子，其实沪指是失真的，主要是银行股涨幅巨大，拉高了指数。但很多板块也并未涨回2021年，最典型的是新能源、老医药 和老消费，还有科创板。这几个可能就是未来补涨的方向。 二、三大指数收红，下周a股会怎么走？ 开盘券商强，之后被银行反超，券商上涨正反馈，对冲银行上涨负反馈。券商机会，还是港股那边估值更低，弹性更高，A股券商年内涨幅是负的，港股券 商年内涨幅超42%，港股的估值比A股低。 三、除了银行股，中字头，今天茅指数也反弹。 四、沪指涨0.50%创年内收盘新高，深证成指涨0.37%，创业板指涨0.34%。 好惊险！每周五惯性大跳水！今天A股大市值权重蓝筹发力，A股市值前十仅1家下跌，市值前20仅2家下跌，市值前30仅5家下跌。四大行，三桶油（中国石 油，中国海油，中国石化）无一下跌。 本周最强的科技股，AI科技，机器人科技，弱但不领跌，部分继续强，这是超预期，盘前马 ...

Core Viewpoint - The "Beer Trading Bar" concept introduced at the Dalian Beer Carnival offers a unique drinking experience by integrating stock market-like price fluctuations for various craft beers, enhancing consumer engagement and enjoyment [1][4][8]. Group 1: Event Overview - The Dalian Beer Carnival, featuring the "Snow Beer & Dalian Beer Carnival" area, showcases a new drinking experience designed by China Resources Snow Beer, attracting local citizens and tourists [1][4]. - The event includes a "Beer Trading Bar" where nine types of craft beers are sold with prices that fluctuate in real-time, similar to stock prices, creating an interactive and engaging atmosphere [2][4]. Group 2: Consumer Experience - Visitors express excitement about the unique experience of "trading" beer, with comments highlighting the thrill of watching prices change while enjoying different flavors [6][8]. - The carnival features a relaxed atmosphere with open-air drinking areas, allowing attendees to enjoy their drinks in a comfortable and nature-friendly setting [9][10]. Group 3: Product Offerings - The event features a variety of high-end craft beers, including the renowned "Abbey Six Knights" and "Eulalia Snow Flower," catering to diverse consumer tastes [11]. - Additional offerings include non-alcoholic options like Heineken 0.0 and low-calorie beers, alongside a rich selection of local and trendy food options, enhancing the overall experience [13].

股票代码：600258 股票简称：首旅酒店 编号：临 2025-032 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ●到期赎回委托理财产品的受托方：招商银行股份有限公司上海分行； 继续现金管理委托理财产品的受托方：中国银行股份有限公司北京市分行； ●到期赎回委托理财产品总金额：人民币 1.5 亿元； 继续现金管理委托理财产品总金额：人民币 1 亿元； ●到期赎回委托理财产品名称、金额： 招商银行股份有限公司上海分行结构性存款 1.5 亿元； ●继续现金管理委托理财产品名称、金额： 北京首旅酒店（集团）股份有限公司 关于使用闲置募集资金进行现金管理到期赎回 并继续进行现金管理进展的公告 中国银行挂钩型结构性存款【CSDVY202510044】 0.51 亿元； 中国银行挂钩型结构性存款【CSDVY202510045】 0.49 亿元；； ●委托理财期限：自董事会审议通过的决策有效期内购买，单笔委托理财期 限最长不超过 1 年； 本次到期赎回的结构性存款期限为 91 天；继续现金管理的结构性存款期限分 别为 3 ...

Investment Rating - The report maintains an "Overweight" rating for the food and beverage industry, expecting the industry index to outperform the market index by over 10% in the next six months [1]. Core Viewpoints - The internal structure of the industry is showing differentiation, with a focus on mid-year performance feedback. The report highlights that the liquor sector, particularly high-end brands like Kweichow Moutai, is expected to recover in demand in the second half of the year, while the snack sector is underperforming [2][50]. - The report indicates that all sub-sectors within the food and beverage industry underperformed compared to the CSI 300 index during the review period, with the snack sector experiencing the largest decline of -3.25% [2][13]. - Approximately 55% of stocks in the industry recorded positive returns during the review period, with notable gainers including Huangshi Group (+26.17%) and Huan Shang Huan (+14.18%) [16]. - The overall price-to-earnings (PE) ratio for the food and beverage industry is approximately 20.35 times, which is below the five-year average of 34 times, indicating potential undervaluation [17][19]. Summary by Sections Market Review - From July 4 to July 17, 2025, the SW food and beverage industry index rose by 0.92%, ranking 22nd among Shenwan's primary industries, underperforming the CSI 300 index by about 0.75 percentage points [12]. - All sub-sectors underperformed the CSI 300 index, with the liquor sector showing the highest increase of 1.56% [13]. Key Data Tracking Liquor Sector - The price of Feitian Moutai increased to 1870 RMB per bottle, while the price of Wuliangye decreased to 900 RMB per bottle [22]. Seasonality and Demand - The beer and soft drink sectors are entering a consumption peak season, which is expected to boost demand [50]. Dairy Sector - The average price of fresh milk remained stable at 3.04 RMB per kilogram [36]. Meat Products - The average wholesale price of pork increased to 20.63 RMB per kilogram, reflecting a month-on-month growth of 1.98% [37]. Important News - The Ministry of Commerce announced a final ruling on anti-dumping investigations related to imported brandy from the EU, confirming a dumping margin of 27.7%-34.9% [40]. - In June, the price of alcoholic beverages decreased by 1.7% year-on-year, indicating a potential challenge for the liquor sector [41]. Company Announcements - Water Well announced a forecast for a 12.84% decline in revenue for the first half of 2025, while the company expects a 14.54% increase in sales volume [46]. - Yanjing Beer projected a 40%-50% increase in net profit for the first half of 2025, reflecting strong performance in the beer sector [48]. Investment Recommendations - The report suggests focusing on high-certainty stocks such as Kweichow Moutai (600519) and Hai Tian Wei Ye (603288), as well as Qingdao Beer (600600) and Yili Group (600887) for potential growth [51][52].

Group 1: Seasonal Consumption Trends - The summer travel season is experiencing a surge in various consumption activities across the country, reflecting the robust vitality and potential of the Chinese economy [1] - From July 1 to August 31, the national railway is expected to transport 953 million passengers, averaging 15.37 million passengers per day, with a year-on-year increase of 5.8% [1] Group 2: Cultural and Creative Events - In Beijing's sub-center, three cultural facilities have transformed into a "cultural attraction," hosting weekly markets that integrate culture, creativity, and lifestyle, providing a new one-stop cultural leisure experience for citizens and tourists [3] - The 23rd Harbin International Beer Festival has opened, featuring over 1,000 beer brands from more than 10 countries, significantly boosting local accommodation, dining, and transportation industries [5] Group 3: Themed Attractions and Activities - The "Dinosaur Army" at the China Dinosaur Park in Changzhou has gained popularity through the "Soochow Super" event, creating a "football + cultural tourism" summer series to attract visitors [7] - The Zhangjiajie Grand Canyon's "internet celebrity" glass bridge bungee jumping project has become a tourism highlight, drawing adventure enthusiasts from both domestic and international markets [13] Group 4: Local Agricultural Initiatives - In Huangshan, Anhui Province, the "Lotus Root Harvest" event has been organized to enhance agricultural product sales through village-enterprise cooperation, supporting rural revitalization [11] Group 5: Nightlife and Entertainment - In Jiangsu's Zhangjiagang, the city is enhancing its nightlife by creating new night-time performances and light shows in urban squares, parks, and scenic areas, enriching the city's night life [15]

Core Insights - Hainan Airlines and InterContinental Hotels Group have launched a collaborative upgrade event at Shanghai Pudong International Airport, marking a significant milestone in their strategic partnership established last year [1][2] - The collaboration aims to enhance the travel experience by integrating high-end services from both the airline and hotel sectors, creating a seamless journey for travelers from the air to the ground [2] Group 1: Partnership and Development - Hainan Airlines has been on a steady growth trajectory since joining the Liaoning Fangda Group in December 2021, operating nearly 800 aircraft and offering around 3,000 passenger routes, with over 21 million flight hours accumulated [2] - The airline has received multiple accolades, including the "SKYTRAX Five-Star Airline" honor and the "World's Best Business Class Sleep Products" award, reflecting its commitment to service excellence [2] Group 2: Lounge and Dining Experience - The newly unveiled Shanghai Haiyixuan VIP lounge features a design inspired by "Garden Oasis," blending Hainan Airlines' "Dream Feather" visual elements with the elegance of InterContinental Hotels, creating a space that combines Eastern aesthetics with modern functionality [6] - The lounge includes interactive cooking areas and private dining spaces, enhancing the overall guest experience [6] - The collaborative dining menu offers a unique culinary experience, featuring local flavors and international cuisine, including a signature dish "High Soup Wonton" and a custom tea drink "Fresh Coconut White Tea" [10][11] Group 3: Themed Flight Activities - A themed flight event titled "Dream Garden, Heading to Oasis" was held on flight HU7322 from Shanghai Pudong to Sanya, featuring interactive activities such as quizzes and cake sharing, enhancing the in-flight experience for passengers [11][14]