Core Points - The establishment of the Qingdao Licang District Public Training Base marks the first public training base in Qingdao and the first nationwide project supported by central budget funds for renovation and expansion [1] - The project was initiated on January 26, 2024, and successfully included in the National Development and Reform Commission's education initiative for public training base construction [1] - The total construction area of the base is 1,290 square meters, transforming an idle courtyard built in 1973, with completion and acceptance in June and trial operation starting in July [1] Summary by Categories Project Overview - The public training base integrates vocational education, skills training, and employment entrepreneurship into a comprehensive platform [1] - It features a "1+N" training platform system, where "1" represents the headquarters responsible for core teaching and management, and "N" includes various training venues across over 50 communities and enterprises in the district [1] Training System - The base has developed a "3+3 Craft Empowerment" training system, which includes three core training areas: baking, online live streaming and digital intelligence training, and life service training [1] - The three core centers consist of a skills training center, a skills competition center, and a technology exchange center [1] Events - On the same day, a vocational skills competition for Chinese pastry chefs was launched in Licang District [2]

Core Points - The Sichuan Provincial Human Resources and Social Security Department and the Finance Department have jointly issued the "Management Measures for Subsidized Vocational Skills Training" to enhance the performance of training subsidy fund usage [1][2] - Subsidized vocational skills training is defined as training conducted by qualified training institutions, focusing on national vocational skill standards and industry evaluation norms, with financial subsidies provided by the government [1] - The training is aimed at urban and rural laborers in Sichuan Province who are willing to train and have employment or entrepreneurial capabilities, primarily targeting enterprise employees and key employment groups [1] Summary by Sections Training Content and Objectives - The training content is designed to address urgent technical skill shortages in industries and livelihoods, including job skills training, employment skills training, and entrepreneurial training [2] - Participants who complete the training will receive vocational training subsidies, with a maximum of three subsidies per person for new training projects registered after May 1 of this year [2] Eligibility and Restrictions - There are no additional restrictive conditions based on the training participants' household registration, residence, insurance, or employment location [1] - Individuals participating in pension insurance for government agencies are not eligible for the subsidies [1] Financial Support and Limitations - Participants who pay for their training or have fees covered by training institutions can receive subsidies upon passing the initial vocational skill evaluation and obtaining relevant certificates [2] - Rural students and low-income urban students who complete training and obtain certificates will receive a living expense subsidy, limited to one per year for each laborer [2] - Individuals who have received high-level training subsidies for a specific occupation are not eligible for lower-level training subsidies, and those who have received vocational training subsidies cannot receive the same level of unemployment insurance skill enhancement subsidies [2]

Group 1 - The province has implemented the "Skills Liaoning Action" to enhance employment opportunities through targeted training in key industries such as equipment manufacturing, cultural tourism, and digital economy, with 511,000 training sessions conducted in the first half of the year [1] - The training model focuses on addressing the mismatch between job availability and workforce skills by promoting a project-based approach that combines job needs, skills training, skills evaluation, and employment services [1] - Financial support is provided to encourage participation in training programs, particularly for key groups such as migrant workers, veterans, unemployed youth, and older individuals facing difficulties [1] Group 2 - The province is focusing on developing high-skilled talent across four trillion-level industrial bases, 22 key industrial clusters, and 10 strategic emerging industries, with significant training initiatives for various levels of skilled workers [2] - In the first half of the year, 229 special technicians and 193 chief technicians were added, aiming to provide better development opportunities for skilled workers [2] - Plans for the second half of the year include establishing training bases and integrating skills training with advanced manufacturing, artificial intelligence, and modern services, targeting over 1 million training sessions and the addition of 160,000 skilled workers [2]

Core Viewpoint - The article highlights the launch of an internet marketing skills training program for ride-hailing drivers in Suzhou, aimed at empowering new economy workers and addressing their desire for skill enhancement and diversified income sources [1] Group 1: Training Program Details - The training program is organized by the Suzhou Federation of Trade Unions as part of the "Su Gong Nuan Xin" initiative, focusing on skill enhancement for new economy laborers [1] - A total of 45 ride-hailing drivers participated in the training, reflecting a strong interest in acquiring new skills [1] - The training is free of charge and offers flexible scheduling, consisting of 25 online course hours followed by an offline assessment [1] Group 2: Course Content - The online training includes essential topics such as account positioning, short video operations, live streaming operations, collaboration with live streaming influencers, and traffic acquisition [1] - Successful participants will receive a completion certificate and skill subsidies after passing the assessment [1]

Group 1 - The Sichuan Provincial Human Resources and Social Security Department and the Finance Department have initiated the application for the 2025 provincial-level high-skilled talent training bases and skill master studios, providing one-time subsidies of 3 million yuan per base and 300,000 yuan per studio for approved projects [1] - A maximum of 8 base projects and 20 studio projects will be established in Sichuan this year, with candidates primarily recommended from municipal bases and studios [1] - Individuals with prestigious titles such as the China Skill Award, National Technical Expert, and Sichuan Skill Master will be prioritized for inclusion in the provincial studio construction [1] Group 2 - The application for the 2025 national-level high-skilled talent training bases and skill master studios has also commenced, with candidates recommended from provincial bases and studios [2] - The central government will provide one-time subsidies ranging from 3 million to 7 million yuan per national base project and 100,000 to 300,000 yuan per national studio project [2] - Applications must be submitted to the Human Resources and Social Security Department and the Finance Department by August 31 [2]

Group 1: Investment Rating - The investment rating for MGM China is maintained as "Buy" with a target price raised from HKD 15.5 to HKD 19 [1][6]. Group 2: Core Insights - MGM China reported a net revenue of HKD 8.7 billion for Q2 2025, representing a year-on-year growth of 9% and a quarter-on-quarter growth of 8%, achieving the highest quarterly record in history, with a 72% increase compared to 2019 [1][6]. - The company's adjusted EBITDA reached HKD 2.5 billion, showing a year-on-year increase of 3% and a quarter-on-quarter increase of 6, driven by an unexpected increase in market share, which reached 16.6% in Q2 [1][6]. - The strong performance in gaming revenue is attributed to high-end gaming and concert events, attracting more customers seeking new experiences and quality services [1][6]. - MGM China is focusing on high-end gaming strategies, with a positive outlook for the summer season, and the Alpha Villas in Macau began trial operations in July [1][6]. Group 3: Summary by Sections Section 1: MGM China Q2 2025 Performance - MGM China's Q2 2025 net revenue was HKD 8.7 billion, a 9% increase year-on-year and an 8% increase quarter-on-quarter, with adjusted EBITDA at HKD 2.5 billion, marking a 3% year-on-year increase [1][6]. - The company achieved a market share of 16.6% in Q2, the highest increase among gaming companies, with a strong performance driven by high-end gaming and concert events [1][6]. Section 2: Market Outlook - The outlook for MGM China remains positive, with the summer season expected to maintain strong performance, and new villa suites set to open before the Golden Week in October [1][6]. Section 3: Education Sector Insights - China Oriental Education reported a significant increase in net profit for H1 2025, with a year-on-year growth of 45-50%, corresponding to a profit total of HKD 400-420 million, exceeding expectations [2][9]. - The vocational training sector is expected to see continued growth due to an increase in the number of high school graduates and a rise in the number of students seeking vocational training [2][9]. - The company is focusing on developing new programs tailored to high school graduates, with an expected enrollment increase of approximately 81% in the new 15-month training programs [3][10]. Section 4: Operational Efficiency - The company plans to enhance operational efficiency by optimizing marketing expenditures and improving school capacity utilization, with an expected increase in capacity utilization from 72.7% to 75.3% [4][11]. - The marketing expense ratio is projected to decrease from 23.7% to 22.1%, contributing to an anticipated profit margin expansion of approximately 3.7% to 16.4% in FY 2025 [4][11].

Group 1 - The report emphasizes the long-term narrative of a bull market, mid-term visibility of fundamental turning points, and a short-term strategy of "looking long while acting short" [2][11] - The "anti-involution" strategy is distinct from supply-side reforms, requiring a shift in focus for investment opportunities [2][10] - The report draws parallels with the supply-side reform period of 2016-2017 to project the potential outcomes of the "anti-involution" market [2][13] Group 2 - Guo'en Co., Ltd. plans to establish a 1,000-ton PEEK full industry chain platform and a 300,000-ton modified and composite materials project, aiming to create a rare integrated production line for PEEK [3][18] - The company is set to enhance its competitive edge by leveraging high-value transformation and expanding its market presence through an upcoming Hong Kong IPO [3][22] - The report forecasts a steady increase in the company's net profit from 706 million yuan in 2025 to 1.068 billion yuan in 2027, maintaining a "buy" rating [3][22] Group 3 - Figma's listing on the US stock market marks a significant step in the commercialization of AI design, with its core product being a cloud-based collaborative interface design tool [2][17] - The company achieved an annual recurring revenue (ARR) of over 100 million USD, indicating strong market demand and growth potential [2][17] - Figma's AI capabilities are not limited to creative generation but extend to enhancing the entire design workflow, appealing to a broad customer base [2][17] Group 4 - The report highlights the performance of the A-share and Hong Kong stock markets, noting that the "Top Ten Gold Stocks" portfolio has outperformed major indices since its inception [3][23] - The report suggests that the current market environment is conducive to identifying new structural opportunities, particularly in technology and midstream manufacturing sectors [3][23] - The report recommends focusing on sectors with industrial trend catalysts and those benefiting from supply-demand improvements [3][23]

Group 1 - The government is conducting large-scale vocational skills training to increase the supply of talent in manufacturing and service industries, promoting employment and income growth for workers [1][2] - During the summer internship season, over 1,000 students have participated in hands-on training at a robotics training base in Suzhou, where they operate industrial robots for tasks like stacking and transporting [2] - The government has initiated a large-scale vocational skills enhancement action, supporting targeted training for employees, with financial subsidies available for those who obtain vocational skill certificates [2] Group 2 - From January to June this year, over 5.12 million people have completed subsidized vocational skills training across the country, with various localities launching new training programs in fields such as digital talent and long-term care [2] - By the end of 2027, it is expected that more than 30 million subsidized training sessions will be conducted [2]

Group 1 - The core initiative "Skills Illuminate the Future" aims to enhance employment opportunities for university graduates in Hohhot by establishing a service system that integrates skills training and employment services [1] - Hohhot is promoting training models such as "order classes" and "agreement classes" to improve graduates' skills and facilitate their employment [1] - The city is fostering cooperation between government, schools, and enterprises by collecting training needs from companies and aligning them with academic programs, resulting in 91 "order classes" and training 2,200 students [1] Group 2 - Hohhot has launched the "Skills Illuminate the Future: Qingcheng Craftsman School Tour" to inspire students' interest in skill learning and ensure that employment policies are accessible and understandable [2] - The city has identified 35,000 job opportunities for graduates through various methods, including job fairs and policy-driven job releases [2] - A total of 22,600 university students have secured employment in Hohhot this year, supported by 11 campus recruitment fairs and a tailored job matching approach [2]

Group 1 - The provincial human resources department plans to hold 104 provincial-level vocational skills competitions this year to encourage more workers to pursue skill-based careers and cultivate high-skilled talent [1][2] - The competitions will cover 264 occupations, with 16 first-class competitions involving 46 occupations such as generative artificial intelligence system application personnel and drone pilots, and 88 second-class competitions involving 218 occupations like supply chain managers and domestic service workers [1] - Competitors include frontline employees from various enterprises, teachers and students from higher education and vocational schools, with specific eligibility criteria for participation [1] Group 2 - Winners of designated ranks in the provincial vocational skills competitions will have their skill levels promoted, and high-skilled and professional technical talents may receive integrated recognition [2] - Participants who win first place in individual events in first-class competitions and are employed workers can be recommended for the "May Day Labor Medal" in Shaanxi Province [2] - The competitions serve as a crucial mechanism for strengthening the skilled workforce in Shaanxi, providing a platform for showcasing skills and fostering economic and social development [2]