三井集团CEO：当关税战导致全球供应链中断时，我们将通过我们的贸易功能做出贡献，特别是在能源 和化工行业。 ...

Core Viewpoint - The Shanghai Stock Exchange's main board companies demonstrated strong resilience and stability in 2024, achieving a total operating revenue of 49.57 trillion yuan and a net profit of 4.35 trillion yuan, supported by a series of incremental policies [1][2]. Group 1: Financial Performance - In 2024, the total operating revenue of the main board companies was 49.57 trillion yuan, maintaining stability year-on-year; net profit reached 4.35 trillion yuan, with a year-on-year growth of 1.9% [2]. - Approximately 80% of companies reported profits, with 40% experiencing year-on-year net profit growth; over 230 companies saw net profit increases exceeding 30%, and 78 companies turned losses into profits [2]. - The annual trend showed a decline in net profit of 1% in the first half, followed by a significant recovery with a 5% increase in the second half; operating cash flow improved notably, with a 15% year-on-year growth in the fourth quarter [2]. Group 2: Stability and Growth - Over the past five years, the main board's operating revenue and net profit have both seen a compound annual growth rate (CAGR) of 5% [3]. - A total of 744 "long-distance running" companies achieved positive compound growth in both revenue and net profit over five years, contributing nearly 70% of total revenue and over 80% of total profit [3]. - Key sectors such as finance, energy, construction, and transportation played a significant role, contributing over 80% of profits, while emerging sectors like automotive, biomedicine, and intelligent manufacturing showed a net profit CAGR of 10% over three years [3]. Group 3: Emerging Industries - In the past decade, the proportion of companies in emerging industries such as electronics, communications, biomedicine, and automotive has risen to 40%, with the number of firms in sectors like semiconductors and new energy vehicles doubling [4]. - Emerging industries contributed over 40% of net profits in manufacturing and services, with a net profit CAGR of 11%, outperforming traditional industries by 5 percentage points [4]. - In 2024, industries such as electronics, communications, and automotive saw net profit growth of 11%, 6%, and 4% respectively, driven by trends in AI technology, cloud computing, and electrification [4]. Group 4: R&D Investment - In 2024, R&D investment by companies on the main board exceeded 1 trillion yuan, accounting for nearly 40% of national R&D expenditure [5]. - The main board's entities invested approximately 920 billion yuan in R&D, with 723 companies investing over 100 million yuan [5]. - Companies with R&D investments exceeding 1 billion yuan and a CAGR above 5% over three years saw average net profit growth outperforming the overall level by 3.6 to 6.1 percentage points [5]. Group 5: Dividends and Shareholder Returns - In 2024, 1,259 companies on the main board announced cash dividends, with a total dividend amount of 1.77 trillion yuan, reflecting a year-on-year growth of 6% [7]. - The overall dividend payout ratio reached 39%, an increase of 0.83 percentage points year-on-year, with 1,041 companies distributing over 30% of their profits as dividends [7]. - A trend of multiple dividends within a year emerged, with 366 companies implementing interim dividends totaling 574.9 billion yuan, marking a significant increase [7]. Group 6: Share Buybacks and Support Measures - In 2024, the number of disclosed share buyback plans reached 400, and important shareholder buyback plans reached 380, both doubling year-on-year [8]. - The total amount for proposed buybacks and increases reached 843 billion yuan and 537 billion yuan respectively, showing significant growth [8]. - Since the introduction of special loans in September 2024, 205 companies disclosed buyback plans utilizing these loans, with a total loan amount exceeding 52 billion yuan [8].

周三，美国和乌克兰就获取乌克兰自然资源一事达成了一项协议，基辅方面希望通过此举巩固特朗普在 与俄乌停火谈判中对乌克兰的支持。 该协议将给予美国在开发乌克兰自然资源（包括铝、石墨、石油和天然气）的新投资项目上的特权。在 特朗普政府推动结束持续了三年多的俄乌冲突之际，这被视为博取特朗普对乌好感的关键举措。 美国财政部长斯科特・贝森特（Scott Bessent）在一份声明中表示："这项协议向俄罗斯清楚地表明，特 朗普政府长期致力于以一个自由、主权和繁荣的乌克兰为核心的和平进程。" 乌克兰经济部长尤利娅・斯维里登科（Yulia Svyrydenko）在社交媒体上发文称："我们正与美国一起创 建一个基金，该基金将吸引全球投资进入我们的国家。" 乌克兰和美国官员就协议文本争论了数周，本周早些时候，取得突破进展的势头逐渐增强，乌克兰谈判 代表访问了华盛顿，以敲定最后的细节。当时双方已经就主要协议达成了一致，但还在讨论单独文本中 阐明的技术细节。一位知情人士称，乌克兰官员原本希望先签署总体协议，之后再确定细节，但美国坚 持所有条款都要一起商定。 周三早些时候，特朗普在白宫的一次内阁会议上表示："我们达成了一项协议，我们的资 ...

乌克兰总统泽连斯基：我们讨论了可以使我们更接近全面、无条件停火和有尊严的和平的步骤。对俄罗 斯施加压力——尤其是针对其银行业和能源业的制裁——肯定会影响到这一点。我们将与合作伙伴协调 决策。 ...

A股2024年报披露于4月30日落下帷幕。A股共有5403家披露了2024年年度财务数据。总体来看，在已披露年报的上市公司中，有 3035家公司实现营收正增长，占比56.17%。尽管2024年的营收总值和净利总值相对于2023略有下降，但是2025年一季度，上市公司 整体盈利水平出现了明显正增长，整体质量不断提升。 营收TOP30榜单出炉 超四成公司营收集中于10亿-50亿元之间 2024年所有已披露财报的A股上市公司合计实现营业总收入71.92万亿元，同比下降0.8%；与此同时，A股上市公司一季度营收16.83 万亿元，同比减少0.5%。 从营收规模来看，第一梯队是超过万亿的上市公司，共有7家，除中国平安外，其余六家都是中字头的央企子公司，主业包括能源、 建筑和通信，其中，中国石化以30745.62亿元营收拔得头筹。但值得注意的是，这7家公司中只有中国移动和中国平安在2024年营收 为正增长。 在收入规模为5000亿至万亿元之间的第二梯队企业中，主要包括工农建和中国银行等大型银行，中国人保、人寿等中央金融企业， 中国交建、中国电信等央企子公司，上汽集团、物产中大和江西铜业三家地方国有企业，另外比亚迪作为唯一 ...

| 可选消费ET ... | 192.23 | -6.84 (-3.44%) | 23.23万股 | 241.45亿 | | --- | --- | --- | --- | --- | | us XLY | | | | | | 全球航空业E ... | 19.09 | -0.66 (-3.32%) | 16.07万股 | 6014.93万 | | US JETS | | | | | | 能源业ETF - ... | 80.21 | -2.52 (-3.05%) | 121.22万股 | 200.87 亿 | | US XLE | | | | | | 半导体ETF --- | 204.07 | -6.22 (-2.96%) | 68.51万股 | 24.12亿 | | us SMH | | | | | | 区域银行ET ... | 53.16 | -1.60 (-2.92%) | 139.26万股 | 44.36亿 | | us KRE | | | | | | 网络股指数E ... | 225.02 | -6.11 (-2.64%) | 65246服 | 149.41亿 | | us FDN | | | | | ...

智通财经APP获悉，当地时间5月2日至5月3日，伯克希尔哈撒韦公司(BRK.A.US,BRK.B.US)的股东大会 将会如期举行，大约4万名伯克希尔哈撒韦股东将齐聚美国奥马哈。该公司股东大会将由其首席执行官 沃伦•巴菲特主持，投资者将有机会向这位"奥马哈先知"提问有关市场的最新观点。 巴菲特今年已经95岁，每一次的巴菲特股东大会都会显得非常珍贵。本次会议恰逢伯克希尔哈撒韦公司 成立60周年，除了美股估值高企、地缘政治风险升级、全球资本流动重组等复杂背景外，巴菲特的投资 理念和战略方向将成为全球资本市场的风向标。 股票投资 当前资本市场正经历三个结构性变化： 1.科技竞争格局重构：中国大模型DeepSeek打破了美国在AI领域的垄断，2025年第一季度A股科技股上 涨27%，而同期纳斯达克指数下跌18%。这种"东升西降"的趋势引发了资本的重新配置，富时中国A50 指数期货持有量增加了42%，表明外资加速流入中国市场。 根据最新数据，巴菲特旗下的伯克希尔哈撒韦公司的现金储备约为3340亿美元，巴菲特的现金储备再度 创出历史新高。与此同时，在3340亿美元的现金储备背后，巴菲特更偏爱短期美债，在接下来如何盘活 这笔 ...

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Core Viewpoint - The total dividends from ETFs have exceeded 10 billion yuan this year, with a year-on-year growth of over 180% as of April 25, highlighting the defensive nature of high dividend strategies in a low-interest-rate environment [1] Group 1: ETF Performance and Strategy - The current economic data fluctuations have led to a weakening of long-term government bond yields, making high dividend assets more attractive for long-term capital allocation [1] - E Fund's dividend series ETFs have established a comprehensive coverage of A-shares and Hong Kong stocks, providing stable dividend income and volatility resistance [1] - The four E Fund ETFs focus on high dividend yield as a core selection criterion, with a total management and custody fee of 0.20% per year, which is among the lowest in the market [1][3] Group 2: Dividend Distribution Mechanism - The three ETFs (Dividend Value ETF, Low Volatility Dividend ETF, and Hang Seng Low Volatility Dividend ETF) evaluate excess returns quarterly, with different months designated for dividend evaluation, ensuring monthly dividend distribution throughout the year [2][3] - The Hang Seng Low Volatility Dividend ETF evaluates excess returns on the last trading day of January, April, July, and October, while the Low Volatility Dividend ETF does so in February, May, August, and November, and the Dividend Value ETF in March, June, September, and December [2] Group 3: Index Composition and Performance - The Dividend Value ETF focuses on both "dividend and value" factors, selecting 50 securities with good liquidity, continuous dividends, and moderate dividend payout ratios, reflecting high dividend levels and value characteristics [3][5] - The Dividend Low Volatility Index excludes companies with excessively high or negative dividend payout ratios, ensuring that constituent stocks possess both dividend capability and profit quality [5] - The Dividend Low Volatility ETF targets "high dividend and low volatility" factors, tracking an index primarily composed of blue-chip stocks from financial, energy, and real estate sectors, with an average dividend yield exceeding 6% [9]

Group 1 - The core viewpoint of the articles highlights the efforts of the Guiping Market Supervision Administration to enhance the business environment and support high-quality development for enterprises through guidance on the use of special equipment [1][2] - Guiping Qiaoyu Energy Technology Co., Ltd. is undertaking projects with a total investment of approximately 2.1 billion and 580 million, aiming for an annual output value of 4.4 billion and 950 million respectively, creating 1,000 and 210 new jobs [1] - The special equipment involved includes a power station boiler with an evaporation capacity of 160 tons per hour, bridge cranes, and pressure vessels [1] Group 2 - The Guiping Market Supervision Administration provided explanations on the installation notification, initial inspection application, usage registration, and certification for special equipment operators, facilitating the understanding of procedures for the enterprise [2] - The administration emphasized the importance of adhering to the first mandatory national standard for major accident hazard determination in the special equipment sector, urging the enterprise to establish safety management systems and emergency plans [2] - The company representative expressed appreciation for the guidance, stating it effectively addressed challenges related to the use of special equipment and reflected the government's commitment to supporting enterprise development [2]