Core Insights - Cue Biopharma, Inc. has received positive Pre-IND feedback from the FDA regarding its lead autoimmune asset, CUE-401, a first-in-class bispecific molecule designed to induce and expand regulatory T cells (Tregs) in vivo [1][2] - CUE-401 utilizes the combined activities of transforming growth factor beta (TGF-β) and a modified variant of interleukin 2 (IL-2) to potentially provide durable immune rebalance and tolerance for various autoimmune diseases [2][4] Company Overview - Cue Biopharma is a clinical-stage biopharmaceutical company focused on developing a novel class of therapeutic biologics that selectively engage and modulate disease-specific T cells for autoimmune disease treatment [1][8] - The company’s proprietary platform, Immuno-STAT™, aims to harness the body's intrinsic immune system without the adverse effects of broad systemic immune modulation [8] Product Details - CUE-401 is engineered to enhance the Treg induction capacity of TGF-β combined with IL-2 signaling, which is believed to improve the quality and stability of Tregs [5][6] - The design of CUE-401 allows for "conditional binding," which minimizes off-target activity and simplifies manufacturing processes [6] Mechanism of Action - CUE-401 acts as a master switch to convert autoreactive effector T cells into stable, induced T-regulatory cells (iTregs), establishing a 'tolerance positive feedback loop' that increases nonspecific Treg populations while reducing autoreactive T cells [7]

截至6月24日，首批获批的26只新型浮动费率基金中，13只产品已率先成立，合计募集规模超126亿元。 其中，东方红核心价值、易方达成长进取、平安价值优享的募集规模均在10亿元以上。 5月7日，证监会发布《推动公募基金高质量发展行动方案》，对新设立的主动管理权益类基金大力推行 基于业绩比较基准的浮动管理费收取模式。此后，首批26只新型浮动费率基金陆续获批发行。 国泰海通资产配置部表示，本次新一批浮动费率基金采用一致的分档计提规则，实施"奖优罚劣"机制 ——当基金年化收益率跑输基准3个百分点以上时，管理费减半至0.6%；当超额收益达6个百分点以上 时，管理费上浮至1.5%；其他情况维持1.2%基准费率。这种设计既能约束基金管理人的业绩表现，又 可通过费率浮动实现投资者与机构的风险共担。 在业绩基准的设定上，国泰海通资产配置部表示，部分产品侧重成长风格、权益占比较高，另一部分产 品则侧重大盘价值、均衡风格，但共性在于以A股为主、港股为辅，并通过宽基化提升组合分散性。 业内机构表示，上述浮动费率基金采用一致的分档计提规则，实施"奖优罚劣"机制，既能约束基金管理 人的业绩表现，又可通过费率浮动实现投资者与机构的风险共担 ...

Financial Performance - Net sales for Q4 fiscal 2025 were $317.9 million, a slight decrease of 0.3% compared to $318.8 million in Q4 fiscal 2024[4] - Net earnings from continuing operations increased 111% to $3.6 million, while adjusted EBITDA from continuing operations grew 35% to $85.1 million[4] - Adjusted EPS from continuing operations (diluted) increased from $0.74 to $1.06 per share[4] - Operating cash flow increased 38% to $62.4 million, and free cash flow rose 46% to $49.3 million[4] - Net earnings for the three months ended May 31, 2025, were $3,614,000, a significant improvement from a net loss of $32,049,000 in the same period of 2024[28] - The company reported a GAAP net earnings of $96,053,000 for the twelve months ended May 31, 2025, compared to $35,243,000 for the same period in 2024[38] - The adjusted EBITDA for the twelve months ended May 31, 2025, was $263,489,000, compared to $250,999,000 for the same period in 2024, indicating a positive trend in operational performance[36] Cash Flow and Dividends - The company ended the quarter with cash of $250.1 million, an increase of $5.9 million from the previous year[10] - Cash and cash equivalents increased to $250,075 thousand as of May 31, 2025, compared to $244,225 thousand in 2024, showing a growth of 2.9%[26] - The company declared cash dividends of $0.17 per share for the three months ended May 31, 2025, compared to $0.16 per share in the same period of 2024[24] - The company paid dividends totaling $33,903,000 for the twelve months ended May 31, 2025, compared to $56,819,000 in the previous year, reflecting a reduction in dividend payments[28] Segment Performance - Building Products segment net sales increased by $38.8 million, or 25.2%, to $192.3 million, driven by higher volumes and contributions from the Ragasco acquisition[13] - The Consumer Products segment reported net sales of $125,568,000 for the three months ended May 31, 2025, slightly up from $125,336,000 in the same period of 2024[31] - The Building Products segment achieved net sales of $192,316,000 for the three months ended May 31, 2025, compared to $153,551,000 in the same period of 2024, marking an increase of 25.2%[31] Impairment and Losses - The impairment of goodwill and long-lived assets for the three months ended May 31, 2025, was $50,813 thousand, up from $32,975 thousand in 2024[24] - The company incurred impairment charges of $50,813,000 for long-lived assets in the three months ended May 31, 2025, compared to $32,975,000 in the same period of 2024[34] Operational Metrics - Total assets rose to $1,695,152 thousand as of May 31, 2025, up from $1,638,637 thousand in 2024, indicating an increase of 3.4%[26] - Total liabilities increased to $756,915 thousand as of May 31, 2025, compared to $747,625 thousand in 2024, reflecting a rise of 1.8%[26] - Net cash provided by operating activities for the twelve months ended May 31, 2025, was $209,744,000, down from $289,976,000 in 2024, representing a decrease of approximately 27.7%[28] - The company’s operating cash flow conversion for the three months ended May 31, 2025, was 1,610%, a significant increase from (143%) in the same period of 2024[38] Acquisitions and Corporate Actions - The acquisition of Elgen Manufacturing was completed for approximately $93 million, enhancing the company's position in the HVAC market[4] - The company repurchased 200,000 shares of common stock for $9.8 million, with 5,365,000 shares remaining on the repurchase authorization[4] Tax and Adjustments - The effective tax rate for the three months ended May 31, 2025, was 54.9%, significantly higher than the effective tax rate of (18.8%) for the same period in 2024[34] - Adjusted operating income is defined as operating income excluding specific items, providing a clearer view of ongoing performance[41] - Adjusted net earnings from continuing operations exclude after-tax effects of certain items, offering a more accurate reflection of profitability[42] - Adjusted EBITDA from continuing operations is used to evaluate segment performance and overall profitability, excluding non-recurring items[43] - Free cash flow is defined as net cash flows from operating activities less investments in property, plant, and equipment, indicating liquidity[44] - Free cash flow conversion measures how much of adjusted net earnings is converted into cash, highlighting cash generation efficiency[45] - Impairment charges and restructuring activities are excluded from non-GAAP measures as they do not reflect ongoing operations[46] - Separation costs related to corporate functions are excluded as they are one-time in nature and not expected to recur[46] - Non-cash charges and losses on extinguishment of debt are excluded to avoid obscuring financial performance analysis[47] - Pension settlement charges and one-time tax effects of separation are excluded due to their non-recurring nature[47] - Corporate costs eliminated at separation reflect overhead costs that no longer exist post-separation, impacting financial reporting[47]

在美国总统特朗普怒斥以色列和伊朗违反协议、力图维护停火后，央视等媒体的一些报道显示，以色列 和伊朗有准备开始和谈的迹象。 当地时间24日周二，以色列总理内塔尼亚胡的办公室称，在特朗普和内塔尼亚胡通电话后，以方停止了 对伊朗的进一步军事打击。伊朗总统佩泽希齐扬称，伊方准备在谈判桌上对话，如果以色列不违反停火 协议，伊朗就不会违反。 据央视新闻，当地时间24日，以色列交通部长米丽·雷格夫表示，以色列正在推进一项全面开放其领空 的计划，包括增加航班数量、延长机场运营时间以及引入外国航空公司。 米丽·雷格夫表示，她已指示以色列机场管理局做好准备，该计划的实施将取决于"本土守备司令部解除 限制"以及"与安全和情报机构的协调"这两个条件。她还透露，24日当天将有24个航班降落在以色列特 拉维夫本-古里安机场，9个航班降落在海法。 周二美股午盘之初，以色列国防军宣称，已经使伊朗核项目、导弹项目的进程推迟数年。国际原油期货 当时保持大跌势头，布伦特原油日内跌约6%。 以总理办公室：美以领导人通话后以停止对伊朗进一步军事打击 据央视新闻，当地时间24日，以色列总理内塔尼亚胡的办公室发表声明称，"为了应对伊朗违反停火协 议的行为 ...

Core Viewpoint - Kansas City Life Insurance Company ("KCL") has entered into a settlement agreement to resolve claims related to the cost of insurance rates in certain universal life and variable universal life policies, agreeing to pay $45 million to approximately 88,000 policyholders [1][2]. Summary by Sections Settlement Agreement - The proposed nationwide Settlement Agreement is subject to preliminary and final court approval, with KCL agreeing to pay $45 million to settle claims from around 88,000 policyholders [2]. - The settlement aims to resolve all current and potential claims regarding the cost of insurance rates for various universal life and variable universal life policies issued and administered by KCL since January 1, 2002 [3]. Ongoing Litigation - The settlement will also address claims from ongoing cases, including van Zanten and Vittetoe v. KCL, Sheldon v. KCL, and others, as well as claims from any policyholder with a Class Policy not involved in existing litigation [4]. Court Proceedings - Settlement proceedings for the Sheldon litigation will occur in the 16th Circuit Court, Jackson County Missouri, while other claims will be handled in the United States District Court for the Western District of Missouri [5]. Company Position - KCL does not admit any liability or wrongdoing in entering the Settlement Agreement and will continue to defend against any actions if the settlement is not approved [6]. - The CEO of KCL stated that the settlement is intended to eliminate future uncertainty and legal expenses, benefiting policyholders, the company, and shareholders [7].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________________________________ FORM 10-K ______________________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-36827 ___________________________________ ...

在考古与文物研究方面，"锦秀"丝绸世界互动地图汇聚了来自全球99个国家的12915条丝绸相关数据， 研发了多语种互动地图时空管理平台，实现了全球开放共享。 在智慧化管理方面，故宫博物院的数字孪生智慧管理平台运用物联网、大数据、人工智能和虚拟现实等 技术，构建了智能监测与预警系统、管线管理、能耗管理等管理系统，真实再现了故宫的物理状态及动 态变化。 在文物价值利用方面，构建书画、简牍、青铜器、玉器等重要文物类型的高质量知识库，同时，加强公 共文化数字资源建设，推动优质文化资源直达基层。截至目前，全国7046家博物馆累计推出线上展览13 万余个，举办线上教育活动4.7万余场，博物馆网站访问量超20亿人次，有效激发文物博物馆单位创新 动能。(完) （文章来源：中国新闻网） 中新网北京6月24日电(记者吴涛)在24日举行的国家数据局新闻发布会上，国家文物局科技教育司副司 长彭馨表示，要创新文物数字资源服务模式，围绕文物"防、保、研、管、用"等典型应用场景，以数字 化和智慧化手段支撑文物的风险防控、保护修复、价值认知、资源管理和传播利用。 据介绍，在文物风险防控方面，敦煌研究院借助物联网平台、GIS+BIM、人工智能、 ...

上周API成品油汽油库存 +76.4万桶（前值 -20万桶）、馏分油库存 -102.6万桶（前值 +30万桶）。 上周API库欣原油库存 -7.5万桶，前值 -80万桶。 美国石油协会（API）数据显示，6月13日当周，美国API原油库存 -427.7万桶，之前一周 -1013.3万桶 ——创2023年8月25日当周以来最大单周降幅。 ...

Core Insights - Meta is facing significant backlash due to mass bans affecting Facebook Groups, with thousands of groups impacted both in the U.S. and internationally [1][8] - The cause of these mass suspensions is suspected to be related to faulty AI-based moderation, although Meta has not confirmed this [2][9] - Users are organizing to share information and strategies regarding the bans, with many advising against appealing the suspensions immediately [5][10] Impact on Facebook Groups - Many suspended groups focus on benign topics such as savings tips, parenting support, and hobbies, which typically do not raise moderation concerns [3][4] - Group admins have reported receiving vague violation notices for content that does not exist in their groups, such as "terrorism-related" content or nudity [4][6] - Some large groups, with memberships in the tens of thousands to millions, have been affected, raising concerns about the effectiveness of moderation practices [4][8] User Reactions and Community Response - The Reddit community dedicated to Facebook is filled with complaints from group admins and users expressing frustration over the mass suspensions [6][10] - A petition has been initiated, gathering over 12,380 signatures, urging Meta to address the ongoing issues [10] - Some users are considering legal action due to the impact on their businesses and community engagement [10] Broader Industry Context - Other social networks, including Pinterest and Tumblr, have also experienced complaints about mass suspensions, suggesting a wider issue with AI moderation across platforms [9] - Pinterest acknowledged an internal error as the cause of its mass bans, while Tumblr linked its issues to testing a new content filtering system [9]

Company Overview - Coinbase Global operates the largest cryptocurrency platform in the United States, supporting over 200 digital assets and handling the most trading volume among US-based exchanges [1] - The company benefits from higher transaction volumes as public adoption of cryptocurrency increases [1] Stablecoin Business - Coinbase's stablecoin revenue from USDC reached approximately $300 million in Q1, accounting for about 15% of total revenue [2] - The GENIUS Act aims to regulate the stablecoin market in the US, which could enhance market credibility and drive institutional demand [2] - Stablecoins facilitate faster and cheaper money transfers and allow holders to earn rewards through staking [3] Market Valuation - Coinbase partners with Circle Internet Group, sharing revenue from USDC, which is a significant part of its business [4] - Despite USDC revenue representing only 14% of Coinbase's business, Circle's market cap is around $50 billion, while Coinbase's is approximately $87 billion, indicating a potential undervaluation of Coinbase's core exchange business [5] Technical Analysis - COIN shares are on the verge of breaking out from a year-long base structure, with potential to reach $500 by 2026 if the breakout is successful [6][8] - Increased trading volume suggests strong interest from institutional investors [8] Financial Health - Coinbase maintains a strong balance sheet with a cash reserve nearing $10 billion, indicating financial stability [10] Conclusion - Coinbase is well-positioned to benefit from the growing crypto economy and the expanding stablecoin market, which is often overlooked [11]