Macro Strategy - The "urban renewal" initiative is expected to achieve a total investment of at least 4.48 trillion yuan during the 14th Five-Year Plan period, averaging nearly 900 billion yuan annually. The main sources of potential demand will come from the renovation of urban villages, old residential communities, and urban infrastructure upgrades [1][18]. - The renovation of old residential communities and urban infrastructure is projected to contribute at least 2.35 trillion yuan in new investments during the 14th Five-Year Plan period, supported by over 470 billion yuan in central budget investments and special bonds [1][18]. - The urban village renovation is estimated to contribute 2.13 trillion yuan in new investments during the 14th Five-Year Plan period, assuming a "half-demolition, half-renovation" approach for the remaining self-built houses [1][18]. Economic Data - The actual GDP growth rate for Q2 was 5.2%, with a cumulative growth of 5.3% for the first half of the year, indicating a strong performance compared to the previous year. However, the nominal GDP growth rate was lower at 3.9% for Q2 [2][20]. - Consumer spending showed resilience, with retail sales growth of 5.0% in the first half, driven by the "old-for-new" policy, while real estate sales showed improvement compared to the previous year [2][20]. - Industrial production increased, with the industrial added value in June rising to 6.8%, supported by strong external demand, particularly in the equipment manufacturing sector [2][20]. Fixed Income - The bond market experienced a "stock-bond seesaw" effect, with the 10-year government bond yield rising from 1.641% to 1.666% during the week of July 7-11, 2025, influenced by stock market performance [6]. - The issuance of green bonds totaled approximately 34.825 billion yuan during the week of July 7-11, 2025, while the trading volume of green bonds in the secondary market reached 62.3 billion yuan [7]. - The issuance of secondary capital bonds amounted to 53 billion yuan during the same week, with a total trading volume of approximately 185.5 billion yuan in the secondary market [8]. Company Analysis - The company "锅圈" is expected to achieve revenue of 72.9 billion yuan in 2025, with a year-on-year growth of 13%, and a net profit of 4.0 billion yuan, reflecting a significant increase of 71% [9]. - "水井坊" anticipates a revenue decline of approximately 12.8% in H1 2025, with a net profit drop of about 56.5%, indicating challenges in the current market environment [10]. - "新和成" is projected to achieve net profits of 60 billion yuan in 2025, with a growth rate of 2%, supported by ongoing project developments in nutrition and new materials [11]. - "博瑞医药" has received IND approval for its oral drug BGM0504, which is expected to enter clinical trials soon, indicating strong potential in the diabetes treatment market [12][13]. - "炬芯科技" reported a revenue increase of 59% in Q2 2025, driven by the successful implementation of AI technology in its product offerings [14]. - "美图公司" has adjusted its profit forecast slightly downward but remains optimistic about its AI-driven growth strategy, projecting net profits of 8.54 billion yuan in 2025 [15].

Core Viewpoint - ST Mingcheng (600136.SH) has entered a significant turning point following its bankruptcy restructuring and asset optimization, with a projected revenue increase of 398.61% to 647.92% for the first half of 2025, and a successful turnaround to profitability with a net profit forecast of 900,000 to 1,350,000 yuan [1][2][5] Financial Performance - The company expects revenue between 200 million to 300 million yuan, a substantial increase from the previous year's low base, with a maximum growth rate of 647.92% [2] - The anticipated net profit marks a significant improvement from a loss of 21.64 million yuan in the same period last year [2] - In Q1 2025, ST Mingcheng reported revenue of 136 million yuan, a year-on-year increase of 1,148.76%, and a net profit of 5.18 million yuan, reversing a previous loss [2] Business Segments - The growth is attributed to the synergistic development of its two core business segments: film and television media, and smart space [2] - The film and television segment has launched five dramas and signed two new projects, while the smart space segment has secured 41 projects, contributing significantly to revenue [2][3] Strategic Developments - The company is undergoing a strategic transformation, including the sale of a 45% stake in its subsidiary, Wuhan Contemporary Time Media Co., to streamline operations and focus on core business [4] - The name change to "Wuhan Mingcheng Cultural Sports Group Co., Ltd." reflects its dual-driven strategy of "culture + operation" [4] Future Outlook - The positive half-year performance indicates a shift from a "stop-loss" phase to a "profit-generating" phase, laying a solid foundation for sustainable development [5] - The company aims to optimize cost control and enhance project management to support ongoing business growth [3]

证券代码：603721 证券简称：*ST 天择 公告编号：2025-019 中广天择传媒股份有限公司 关于变更会计师事务所的公告 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个别及连带责任。 重要内容提示： ● 变更会计师事务所的简要原因及前任会计师的异议情况：鉴于原会计师 事务所容诚会计师事务所（以下简称"容诚所"）聘期已满，按照《国有企业、 上市公司选聘会计师事务所管理办法》（财会〔2023〕4 号)的规定，经履行相 关程序，拟聘任中审众环会计师事务所（以下简称"中审众环"）为中广天择传 媒股份有限公司（以下简称"公司"或"本公司"）2025 年度财务报表审计机 构和内部控制审计机构。前任会计师与本公司不存在审计意见不一致的情况，亦 不存在任何与更换会计师事务所须提请本公司审计委员会、董事会及股东注意的 事项。 一、拟聘任会计师事务所的基本情况 （一）机构信息 证券、期货相关业务资格及金融业务审计资格的大型会计师事务所之一。根据财 政部、证监会发布的从事证券服务业务会计师事务所备案名单，本所具备股份有 限公司发行股份、债券审计机构 ...

Core Viewpoint - The company, Zhongguang Tianze Media Co., Ltd., has proposed amendments to its Articles of Association to comply with the revised Company Law and relevant regulations, which will be submitted for shareholder approval [1][2][3]. Summary by Sections Amendments Overview - The amendments aim to protect the rights of the company, shareholders, and creditors while enhancing the political core role of the Communist Party within the company [1]. - The board of directors has authorized the necessary personnel to handle the registration and filing of the revised Articles of Association [1]. Specific Amendments - Article 1: The revised article emphasizes the protection of the rights of the company, shareholders, employees, and creditors, and the political role of the Communist Party [1]. - Article 8: The chairman is defined as the legal representative of the company, with stipulations regarding the appointment of a new legal representative within 30 days of resignation [1]. - New Article 9: Establishes that the company bears legal consequences for civil activities conducted by the legal representative [1]. - Article 10: Clarifies that the company's assets are divided into equal shares, and shareholders are liable only to the extent of their subscribed shares [2]. - Article 16: Ensures that all shares issued are equal in rights and obligations [2]. - Article 20: Prohibits the company from providing financial assistance for the acquisition of its own shares, with exceptions for employee stock ownership plans [2]. - Article 30: Outlines the rights of shareholders to supervise company operations and propose suggestions [3]. Shareholder Rights and Responsibilities - Shareholders have the right to receive dividends and participate in decision-making processes based on their shareholdings [5]. - The company must provide shareholders with access to relevant documents and information upon request [6]. - Shareholders are required to comply with laws and regulations and are liable for any damages caused by the abuse of their rights [12]. Governance and Meeting Procedures - The company’s governance structure includes provisions for the convening of shareholder meetings, with specific requirements for notice and voting procedures [14][15]. - The amendments stipulate that shareholders holding more than 10% of shares can convene meetings if the board fails to do so [14]. - The notice for shareholder meetings must include detailed information about the agenda and voting procedures [15].

Meeting Overview - The fourth board meeting of Zhongguang Tianze Media Co., Ltd. was held on July 16, 2025, with all seven directors present, confirming compliance with legal and regulatory requirements [1] Resolutions Passed - The board unanimously approved the appointment of Cheng Zhen as the vice president, responsible for sports event operations, with a term aligned with the current board [1] - The board agreed to change the accounting firm to Zhongshun Zhonghuan Certified Public Accountants for the 2025 financial year, following the expiration of the previous firm's term [2] - The board approved an increase in the estimated amount for daily related transactions for 2025 to 11 million yuan, which does not require shareholder approval [3] - The board passed a resolution to amend the company's articles of association, which will be submitted for shareholder approval [4] - The board approved amendments to the rules of procedure for shareholder meetings and board meetings, both requiring shareholder approval [4][5] - The board scheduled the first extraordinary general meeting of 2025 for August 5, 2025, to be conducted both in-person and online [4]

从中证科技传媒通信150指数持仓样本的行业来看，信息技术占比82.00%、通信服务占比18.00%。 数据统计显示，中证科技传媒通信150指数近一个月上涨10.92%，近三个月上涨13.82%，年至今上涨 9.03%。 据了解，中证科技传媒通信150指数从业务涉及科技、传媒、通信产业的上市公司证券中，选取150只市 值较大、成长性较好的上市公司证券作为指数样本。该指数以2011年06月30日为基日，以1000.0点为基 点。 从指数持仓来看，中证科技传媒通信150指数十大权重分别为：立讯精密（4.06%）、中芯国际 （3.74%）、新易盛（3.64%）、中际旭创（3.28%）、京东方A（3.13%）、北方华创（3.0%）、海光 信息（2.76%）、寒武纪（2.62%）、科大讯飞（2.35%）、中兴通讯（2.31%）。 从中证科技传媒通信150指数持仓的市场板块来看，深圳证券交易所占比57.27%、上海证券交易所占比 42.73%。 金融界7月16日消息，上证指数低开震荡，中证科技传媒通信150指数 (科技传媒通信150，H30318)下跌 0.36%，报2020.14点，成交额1739.25亿元。 资料显示， ...

Meeting Overview - The meeting was held on July 16, 2025, at 14:00, with network voting available throughout the day [1] - A total of 75.0619% of the company's voting shares were represented at the meeting [1] Shareholder Attendance - 76 minority shareholders participated via online voting, representing 232,988 shares, which is 0.0619% of the total voting shares [2] - No minority shareholders attended the meeting in person [1] Proposal Voting Results - Proposal 1 regarding the amendment of the company's articles of association was approved with 282,427,032 votes in favor, accounting for a significant majority of the votes cast [2] - Minority shareholders voted 80.2754% in favor of Proposal 1, with 18.7804% against [2] Additional Proposals - Proposal 2 for the re-election of a non-independent director was approved with 282,424,092 votes in favor [9] - Proposal 3 regarding the signing of a supplemental agreement for share repurchase was also approved with 282,424,432 votes in favor [10] Legal Opinion - The meeting was witnessed by lawyers from Beijing Dacheng (Shenzhen) Law Firm, confirming that the meeting's procedures complied with relevant laws and regulations [10]

北京大成（深圳）律师事务所 关于广州金逸影视传媒股份有限公司 之 法律意见书 北京大成（深圳）律师事务所 广东省深圳市福田区深南大道 1006 号深圳国际创新中心 A 座 3、4、12 层（518026） Futian District,Shenzhen 518026, P. R. China Tel: +86 755-2622 4888/4999 Fax: +86 755-2622 4111/4200 二〇二五年七月 北京大成（深圳）律师事务所 法律意见书 北京大成（深圳）律师事务所 关于广州金逸影视传媒股份有限公司 法律意见书 致：广州金逸影视传媒股份有限公司 北京大成（深圳）律师事务所（以下简称"本所"）接受广州金逸影视传媒 股份有限公司（以下简称"公司"）的委托，指派律师出席公司 2025 年第一次 临时股东会（以下简称"本次股东会"），并根据《中华人民共和国公司法》 下简称"《公司法》"）、 《中华人民共和国证券法》 （以下简称"《证券法》"）、 《上市公司股东会规则》 （以下简称"《股东会规则》"）等法律、法规、规范性文 件及《广州金逸影视传媒股份有限公司章程》（以下简称"《公司章程》"）的 有关 ...

本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误导 性陈述或者重大遗漏。 证券代码：300860 证券简称：锋尚文化 公告编号：2025-034 锋尚文化集团股份有限公司 司"）召开第四届董事会第十次会议、第四届监事会第六次会议,审议通过了《关 于使用部分闲置募集资金及自有资金进行现金管理的议案》，在确保不影响募集 资金投资计划正常进行的情况下，公司拟使用额度不超过人民币15亿元的闲置募 集资金进行现金管理，公司及子公司拟使用额度不超过人民币18亿元的闲置自有 资金进行现金管理，使用期限自公司2025年第二次临时股东会审议通过之日起12 个月内有效，在上述额度和决议的有效期内，资金可以滚动使用。截至股东会审 议通过之日，前次股东会授权有效期未到期的现金管理产品到期将赎回。此议案 尚需提交公司2025年第二次临时股东会审议。 一、本次募集资金基本情况 经中国证券监督管理委员会出具的（以下简称"中国证监会"）《关于同意 北京锋尚世纪文化传媒股份有限公司首次公开发行股票注册的批复》（证监许可 20201565号），公司首次公开发行人民币普通股（A股）1,802.00万股，发行 价格为138 ...

Group 1 - 25 new floating rate funds have been established with a total fundraising scale of approximately 24.76 billion yuan, including Huashang Zhi Yuan Mixed Fund which raised 2.08 billion yuan [1] - The consumer finance industry is undergoing self-examination in response to regulatory scrutiny regarding "24% + equity" products, with a focus on member rights services [1] - NVIDIA is expected to resume sales of H20 GPUs to China, which may increase the proportion of AI chips sourced from foreign suppliers to 49%, up from a previous estimate of 42% [1] Group 2 - ASML's CEO predicts that revenue from the Chinese mainland market will exceed 25%, driven by growth in logic and memory chips [2] - Barclays Bank has been fined £42 million for failing to manage financial crime risks adequately, particularly related to money laundering [2] Group 3 - Beijing Douyin Technology has been executed for over 15.45 million yuan due to legal issues [3] - ByteDance has denied reports of applying to purchase NVIDIA chips, stating that no such application has been made [4] Group 4 - Guangdong Shunde Rural Commercial Bank has been approved to absorb and merge four village banks, taking over their assets, liabilities, and operations [5] - Jinggong Steel Structure has signed a contract worth approximately 550 million yuan for the construction of the Jeddah Stadium and surrounding sports village in Saudi Arabia [5] Group 5 - Zhejiang Energy Power reported a 4.48% year-on-year increase in power generation, totaling 78.848 billion kWh in the first half of 2025 [6] - Wukuang Development plans to register and issue up to 2 billion yuan in short-term financing bonds and medium-term notes to optimize its financing structure [7] - Jindi Co. has signed an industrial project investment contract with a total investment of no less than 1.5 billion yuan [8] Group 6 - Pinming Technology expects a net profit increase of 231.79% to 302.89% in the first half of 2025, projecting a profit of 28 to 34 million yuan [9] - Tiande Yu reported a 43.35% year-on-year increase in revenue, reaching 1.208 billion yuan in the first half of 2025 [10] Group 7 - The ChiNext index experienced a slight decline of 0.22%, while pharmaceutical stocks saw a collective rise [11][12] - The market showed mixed performance with over 3,200 stocks rising, while sectors like PCB faced corrections [12]