本文转载自每日经济新闻 值班编辑 | 宝珠 视觉 | 顾芗 一家汽车新央企露出雏形。 6月5日早上，长安汽车、东安动力、湖南天雁等公司披露中国兵器装备集团有限公司重组进展情况： 兵器装备集团收到国务院国资委通知，经国务院批准，对兵器装备集团实施分立。其汽车业务分立为一 家独立中央企业，由国务院国资委履行出资人职责；国务院国资委按程序将分立后的兵器装备集团股权 作为出资注入中国兵器工业集团有限公司。 本次分立后，公司间接控股股东将变更为汽车业务分立的中央企业，实际控制人未发生变化。分立重组 不会对公司正常生产经营活动构成重大影响。 截至昨日收盘，长安汽车股价12.56元/股，市值超1200亿元。 4月10日，长安汽车披露财报显示，2024年实现营业收入1597.33亿元，同比增长5.58%；归属于上市公 司股东的净利润73.21亿元，同比下降35.37%。 值得注意的是，东风股份最新公告称，本公司接到间接控股股东东风公司通知，东风公司暂不涉及相关 资产和业务重组。本公司正常生产经营活动不会受到影响。 星标关注《盐财经》 这表明，传闻已久的东风、长安合并事宜暂时中止。 此前的2月9日，东风股份和东风科技均公告称， ...

Core Viewpoint - The recent increase in tariffs on imported steel and aluminum products by the United States is deemed "unfair," "lacking legal basis," and "unsustainable" by the Mexican government, which plans to assess and implement countermeasures to protect its steel and aluminum industry [1][2]. Group 1: Tariff Impact - The U.S. has raised tariffs on steel and aluminum products from 25% to 50% for all trade partners except the UK, citing "national security threats" and the need to enhance domestic steel and aluminum industry competitiveness [2]. - The increase in tariffs is expected to severely impact Mexico's steel and aluminum industry, particularly due to the high dependency of cross-border supply chains on these materials [2]. Group 2: Trade Relations - Mexico is a net importer of steel and aluminum from the U.S., with a trade surplus of $6.897 billion in steel and aluminum products for the U.S. in 2024 [1]. - The Mexican government argues that the U.S. action is inconsistent with the USMCA (United States-Mexico-Canada Agreement), as the U.S. claims of national security do not hold up against the backdrop of good cooperation between the two countries [1]. Group 3: Future Actions - If negotiations between Mexico and the U.S. regarding the steel and aluminum tariffs do not yield results, Mexico plans to announce countermeasures the following week to protect its steel and aluminum industry and related employment [2].

Core Insights - The company, Qianli Technology (601777), reported significant growth in its production and sales of new energy vehicles (NEVs) and other vehicle models for May 2025 [1] Production Summary - In May 2025, the company produced 1,185 NEVs, representing a year-on-year increase of 68.56% [1] - The production of other vehicle models reached 5,368 units, showing a substantial year-on-year growth of 324.35% [1] Sales Summary - The sales of NEVs in May 2025 amounted to 3,463 units, which is a remarkable year-on-year increase of 95.65% [1] - Sales of other vehicle models were 4,578 units, reflecting an impressive year-on-year growth of 604.31% [1]

（一）国内要闻 资金面均衡偏松；债市整体偏弱震荡 【内容摘要】6 月 3 日，资金面均衡偏松，主要回购利率均下行；同业存单发行价格抬升压制 市场情绪，债市整体偏弱震荡；转债市场跟随权益市场继续上扬，转债个券多数上涨；各期限 美债收益率普遍上行，主要欧洲经济体 10 年期国债收益率普遍下行。 一、债市要闻 【国务院总理李强签署国务院令，公布《政务数据共享条例》】国务院总理李强日前签署国务 院令，公布《政务数据共享条例》，自 2025 年 8 月 1 日起施行。《条例》旨在推进政务数据 安全有序高效共享利用，提升政府数字化治理能力和政务服务效能，全面建设数字政府。《条 例》共 8 章 44 条，主要包括以下内容。一是明确总体要求。规定政务数据共享工作坚持中国 共产党的领导，遵循统筹协调、标准统一、依法共享、合理使用、安全可控的原则。细化各级 人民政府、政务数据共享主管部门、政府部门及其政务数据共享工作机构的职责。 【5 月财新中国制造业 PMI 录得 48.3】 6 月 3 日公布的 5 月财新中国制造业采购经理指数 （PMI）录得 48.3，较前月下降 2.1 个百分点，近八个月来首次落于荣枯线下，生产指数和新 ...

投资咨询业务资格：证监许可【2011】1778 号 资讯早班车 一、 宏观数据速览 | 发布日期 | 指标日期 | 指标名称 | 单位 | 当期值 | 上期值 | 去年同期值 | | --- | --- | --- | --- | --- | --- | --- | | 20250416 | 2025/03 | GDP:不变价:当季同比 | % | 5.40 | 5.40 | 5.30 | | 20250531 | 2025/05 | 制造业 PMI | % | 49.50 | 49.00 | 49.50 | | 20250531 | 2025/05 | 非制造业 PMI:商务活 | % | 50.30 | 50.40 | 51.10 | | | | 动 | | | | | | 20250430 | 2025/04 | 财新 PMI:制造业 | % | 50.40 | 51.20 | 51.40 | | 20250506 | 2025/04 | 财新 PMI:服务业经营 活动指数 | % | 50.70 | 51.90 | 52.50 | | | | 社会融资规模增量:当 | | | | | | 202505 ...

Market Overview - Hong Kong stocks opened significantly lower on June 1, closing down 0.57% with a trading volume of 145.2 billion, indicating a substantial influence from southbound capital [1] - Negative news during the Dragon Boat Festival period included stalled US-China negotiations and new discriminatory measures from the US against China, impacting market sentiment [1] Defense and Military - Ukraine launched a drone attack on a Russian military base, reportedly hitting 41 aircraft, indicating that future negotiations may be complicated by ongoing military actions [2] Cryptocurrency and Stablecoins - Hong Kong's government officially enacted the Stablecoin Ordinance, while the US Senate passed the GENIUS Act, which aims to use stablecoins backed by US Treasury bonds to address debt issues [3] - The market for stablecoins is expected to grow significantly, with companies like Zhong An Online and Yikang seeing substantial stock price increases [3] Automotive Industry - The China Association of Automobile Manufacturers and the Ministry of Industry and Information Technology emphasized the need for regulatory measures to maintain a fair market environment [4] - Leap Motor reported a record delivery of 45,067 vehicles in May, marking a year-on-year increase of over 148.1%, driven by effective product positioning and pricing strategies [4] Tourism and Immigration - China has expanded its visa-free policy to include five Latin American countries, effective from June 1, 2025, which may boost tourism and business exchanges [4] Gaming and Entertainment - Macau's gaming revenue for May reached 21.2 billion patacas, a year-on-year increase of 5% and exceeding market expectations, indicating a strong recovery in the gaming sector [5] - Sands China, Wynn Macau, and Galaxy Entertainment saw stock price increases following the positive revenue report [5] Corporate Developments - Alibaba Pictures is undergoing a transformation, changing its name to Damai Entertainment and shifting focus from film investments to live performances and IP development, resulting in a stock price increase of over 7% [6] Hydrogen Energy Sector - Multiple hydrogen energy policies were announced, including the approval of industry standards and subsidies for hydrogen trucks in Shanxi province, indicating a growing focus on hydrogen as a clean energy source [7] Semiconductor Industry - Shanghai Fudan is expected to leverage the upcoming Lujiazui Forum to enhance collaborations with international chip design firms, aiming to improve its market competitiveness [8] - The company reported a revenue of 3.59 billion yuan in 2024, a slight increase, but a decrease in net profit, with expectations for recovery in 2025 [8] Automotive Electronics - The company has sold over 10 million automotive microcontrollers (MCUs) and is expanding its product line in the automotive electronics sector, focusing on advanced FPGA and PSoC products for various applications [9]

Economic Overview - In April, the economic operation of Zhengzhou continued to show a stable and positive development trend, supported by the implementation of various reform tasks and policy measures [1][3] Industrial Production - The industrial added value of above-scale enterprises in Zhengzhou increased by 8.1% year-on-year in April, with nearly 70% of the 37 major industrial categories maintaining production growth [1] - The new materials industry, automotive manufacturing, and electronic information industries saw significant growth, with added values increasing by 16.1%, 13.9%, and 12.3% respectively, contributing a total of 66.5% to the above-scale industrial growth [1] Investment Growth - From January to April, fixed asset investment in Zhengzhou grew by 5.4% year-on-year, accelerating by 1.7 percentage points compared to the first quarter [1] - Investment in major projects (excluding real estate development) increased by 19.5% year-on-year, with a 4 percentage point acceleration from the first quarter [1] - Private investment showed significant support, growing by 12.5% year-on-year and contributing 7.2 percentage points to overall investment growth, maintaining double-digit growth for four consecutive months [1] Consumer Market - The total retail sales of social consumer goods reached 50.7 billion yuan in April, marking a year-on-year increase of 6.7% [2] - Retail sales through public networks increased by 34.1% year-on-year, continuing a trend of double-digit growth for eight consecutive months [2] - The retail sales of certain categories, such as computers and home appliances, saw substantial increases, with growth rates of 2.3 times, 1.4 times, and 45.4% respectively [2] New Industries and Technologies - The added value of high-tech manufacturing in Zhengzhou increased by 11.3% year-on-year in April, indicating rapid growth in new industries [2] - The production of new products such as integrated circuits, lithium-ion batteries, sensors, and new energy vehicles saw year-on-year increases of 51.5%, 68.4%, 42.2%, and 19.3% respectively [2] - Investment in high-tech manufacturing grew by 30.3% year-on-year from January to April, reflecting a positive investment trend in new industries [2] Future Outlook - The overall economic indicators in April showed a stable and positive trend, but there is a need to enhance the momentum for sustained economic recovery amid a complex external environment [3] - Future strategies will focus on stabilizing production, expanding domestic demand, and fostering new productive forces to promote continuous economic improvement [3]

2025 年 6 月 2 日 公司研究 新老产品交替期，静待纯电上市+AI 技术兑现 ——理想汽车（LI.O）跟踪报告 要点 1Q25 业绩披露：1Q25 理想汽车总收入同比+1.1%/环比-41.4%至 259.3 亿元， 总毛利率同比-0.1pcts/环比+0.2pcts 至 20.5%，Non-GAAP 归母净利润同环比 -20.3%/-74.7%至 10.2 亿元（主要受季节性+老车销量回落等因素影响）。 1Q25 单车盈利同环比下滑，2Q25E 或受新老产品切换影响：1）1Q25 汽车业 务收入同比+1.8%/环比-42.1%至 246.8 亿元（销量同比+15.5%/环比-41.5%至 9.3 万辆，ASP 同比-11.9%/环比-1.1%至 26.6 万元）；汽车业务毛利率同比 +0.5pcts/环比+0.1pcts 至 19.8%。2）1Q25 研发费用率同比-2.2pcts/环比 +4.3pcts 至 9.7%，SG&A 费用率同比-1.9pcts/环比+2.8pcts 至 9.8%。3）1Q25 Non-GAAP 单车盈利同比-31.0%/环比-56.8%至 1.1 万元（Non-GAAP ...

Key Points - The company announced the interest payment schedule for its convertible bonds, "长汽转债," with the interest payment date set for June 10, 2025 [1][4] - The total face value of the convertible bonds issued is 3.5 billion RMB, with an annual interest rate of 0.80% for the current interest period [1][3] - The interest payment will be made to all registered holders of the convertible bonds as of the record date, June 9, 2025 [4][5] - The interest income for individual investors will be subject to a 20% tax, resulting in a net payment of 0.64 RMB per bond after tax [5][6] - Non-resident enterprises holding the bonds will be exempt from corporate income tax on the interest income until December 31, 2025 [5]

智通财经6月1日电，蔚来汽车5月交付车辆23,231辆，同比增长13.1%。 ...