新华社北京6月4日电 题：促就业强产业！权威部门解析人力资源服务业与制造业融合发展试点 新华社记者姜琳 人力资源社会保障部4日宣布，将在30个左右具备条件的城市开展人力资源服务业与制造业融合发 展试点。试点有何重点、如何开展？记者采访了人力资源社会保障部人力资源流动管理司负责人。 通知提出，培育发展制造业人力资源管理咨询、全球高端人才选聘、专业化人才测评、数字化人力 资源管理等服务，支持人力资源服务机构面向制造企业开发优化招聘大模型、智能面试、虚拟现实培训 等新产品。 支持制造企业联合人力资源服务机构开展人力资源事务外包、共建人力资源共享中心，为受人工智 能等新兴技术影响的制造业从业人员提供转岗培训和再就业服务，促进传统制造业改造升级。 试点城市还将加强人力资源服务产业园建设，依托产业园建设就业公共服务平台、劳动关系公共服 务平台、中小企业公共服务平台，打造人力资源社会保障公共服务枢纽。 试点工作有无时间表？ 党的二十大报告提出，推动现代服务业同先进制造业深度融合。作为现代生产性服务业的重要门 类，近年来，人力资源服务业年均服务5000余万家次用人单位，其中约40%是制造业企业，形成了大量 专门面向制造领域的 ...

Domestic News - The central government plans to support 20 cities, including Beijing and Tianjin, with over 20 billion yuan for urban renewal actions, aiming to establish a sustainable urban renewal mechanism and address infrastructure shortcomings [2] - In the first four months of this year, 5,679 old urban residential areas were renovated nationwide, with six regions, including Hebei and Chongqing, having a renovation rate exceeding 50% [2] - The China Passenger Car Association estimates that wholesale sales of new energy passenger vehicles will reach 1.24 million units in May, a year-on-year increase of 38% and a month-on-month increase of 9%, with cumulative sales from January to May expected to be 5.22 million units, up 41% year-on-year [2] - The Ministry of Human Resources and Social Security announced that it will conduct pilot programs for the integration of human resources services and manufacturing in about 30 cities to promote high-quality employment [2] International News - The Australian Bureau of Statistics reported a 0.2% quarter-on-quarter GDP growth and a 1.3% year-on-year growth for the first quarter of 2025 [3] - The U.S. White House announced an increase in import tariffs on steel and aluminum products from 25% to 50% to address national security threats and enhance domestic industry competitiveness [3] - Thailand's manufacturing sector saw its Purchasing Managers' Index (PMI) rise from 49.5 in April to 51.2 in May, indicating a return to expansion after two months of contraction [3]

6月4日早盘，港股消费板块持续活跃，中证港股通消费主题指数高开高走。 中信建投表示，食饮板块Q1季报仍然保持较高质量，4月份以来总体保持稳定。两会提出要大力提振消 费，使内需成为拉动经济增长的主动力和稳定锚，中央发布《提振消费专项行动方案》全方位指引消费 复苏。重点看好白酒、低度酒、餐饮链细分龙头、休闲零食四个方向。 相关ETF中，截至发稿，港股消费ETF（159735）涨1.36%，成交额超2700万元，换手率超4%。成分股 方面，思摩尔国际涨超6%，小鹏汽车-W、泡泡玛特、吉利汽车、理想汽车-W、小米集团-W等股涨幅 居前。 （本文机构观点来自持牌证券机构，不构成任何投资建议，亦不代表平台观点，请投资人独立判断和决 策。） 港股消费ETF（159735）跟踪中证港股通消费主题指数，该指数选取港股通范围内流动性较好、市值较 大的50只消费主题相关股票组成指数样本，采用自由流通市值加权，以反映港股通内消费类股票的整体 表现。 消息面上，据商务部网站，商务部启动2025年"服务消费季"活动。6月3日，2025年"服务消费季"活动在 江苏省南京市启动。2025年"服务消费季"着力推动商旅文体健融合发展，培育"旅游 ...

欢迎扫描下方二维码关注： 你知道劳务派遣服务与人力资源外包服务有什么不同吗？增值税又如何缴纳 呢？今天跟着小编一起来看看吧！ 劳务派遣服务， 是指劳务派遣公司为了满足用工单位对于各类灵活用工的需求， 将员工派遣至用工单位，接受用工单位管理并为其工作的服务。 一般纳税人提供劳务派遣服务 纳税人提供人力资源外包服务 ，按照经纪代理服务缴纳增值税，其销售额不包括 受客户单位委托代为向客户单位员工发放的工资和代理缴纳的社会保险、住房公积 金。 向委托方收取并代为发放的工资和代理缴纳的社会保险、住房公积金，不得开具 增值税专用发票，可以开具普通发票。 一般纳税人提供劳务派遣服务，可以按照《财政部 国家税务总局关于全面推开营 业税改征增值税试点的通知》（财税〔2016〕36号）的有关规定，以取得的全部价款 和价外费用为销售额，按照一般计税方法计算缴纳增值税；也可以选择差额纳税，以 取得的全部价款和价外费用，扣除代用工单位支付给劳务派遣员工的工资、福利和为 其办理社会保险及住房公积金后的余额为销售额，按照简易计税方法依5%的征收率 计算缴纳增值税。 一般纳税人提供人力资源外包服务 小规模纳税人提供劳务派遣服务 小规模纳税人 ...

此外，1~4月旅行社及相关服务实现营业收入59.11亿元，增速实现由负转正，同比增长1.2%。 （文章来源：广州日报） 数据显示，1~4月，广州全市科学研究和技术服务业实现营业收入440.3亿元；全市工程和技术研究和试 验发展、科技中介服务营业收入同比分别增长7.2%和48.8%。 当前，广州正加速"数字+"与传统服务业融合，新兴业态与传统领域协同发力，租赁和商务服务业持续 释放活力，成为经济高质量发展的重要支撑。1~4月，全市租赁和商务服务业实现营业收入1325.82亿 元，同比增长11.3%。特别是在数字技术赋能和制造业与服务业协同发展的双轮驱动下，1~4月，广告 业、人力资源服务业、咨询与调查业表现尤为亮眼，分别实现营业收入318.39亿元、409.13亿元和 142.13亿元，增速21.4%、8.6%和21.4%。 ●1~4月，广州全市规模以上交通运输、仓储和邮政业实现营业收入2250.27亿元，同比增长8.8%。 ●4月，广州市完成客运量约2770万人次，助力铁路旅客运输、航空客货运输当月营业收入分别同比增 长20.3%、8.2%。4月广州市完成货运量8025.30万吨，同比增长7.8%。 广州日报 ...

政策加码，高中教育扩容。 1 ）高中教育行业还有 7-8 年人口红利期。高中段适龄人口出生日期约为 2008-2010 年（ 15-17 岁）、义务教育阶段为 2014-2019 年（ 6-14 岁）、学龄前为 2020-2025 年（ 0-5 岁），预计高中段教育行业仍有近 7-8 年的稳定人口需求。 2 ）政策支持高中阶段教育扩 容，从职普分流到职普融合。中国高中教育普及率显著提升，但仍落后于发达国家。中国普通高中毕业生 数占适龄人口比例逐步提高，近年来已接近发达国家水平。 风险提示： 1 ）居民消费能力持续低迷； 2 ）企业差旅预算受限； 3 ）消费出海面临市场、监管、海外 国家和地区政策等多重风险和不确定性。 文章来源 | 本文摘自：2025年6月3日发布的 新消费持续高景气，强政策推动大机会——社会服务及商贸零售2025年中期投资策略 | | --- | | 刘越男 ，资格证书编号： S0880516030003 | | 李宏科 ，资格证书编号： S0880525040107 | | 于清泰 ，资格证书编 号： S0880519100001 | | 许樱之 ，资格证书编号： S08805250400 ...

Group 1 - Paychex is set to announce earnings at the end of June, with a consensus forecast of approximately $1.20 per share, up from $1.12 in the same quarter last year, and revenues projected to rise by about 6.5% year-over-year to $1.38 billion [1] - The growth is expected to be driven by the strength in Management Solutions and Professional Employer Organization (PEO) services, with operating margins likely trending upward due to technology and data analytics [1] - The company has a current market capitalization of $57 billion, with revenue over the past twelve months at $5.4 billion, operating profits of $2.3 billion, and net income of $1.7 billion [2] Group 2 - Historical data shows that Paychex has recorded 20 earnings data points over the past five years, with 11 positive and 9 negative one-day (1D) returns, resulting in positive 1D returns approximately 55% of the time [5] - This percentage increases to 58% when considering data from the last 3 years, with a median of 3.6% for positive returns and -4.2% for negative returns [5] - The correlation between 1D, 5D, and 21D historical returns can provide insights for traders, particularly if the 1D and 5D returns exhibit high correlation [3][4]

Core Viewpoint - Despite a slowdown in revenue growth, the company has achieved positive growth in core operating metrics through excellent cost control [1][2] Group 1: Financial Performance - For Q1 2025, the company reported revenue of 1.923 billion (+12.88%), GAAP net profit of 518 million (+111.53%), adjusted net profit of 764 million (+43.93%), and adjusted operating profit of 692 million (+76.18%) with a non-GAAP operating profit margin (OPM) of 36.0% [2] - Revenue growth has slowed down, with quarterly growth rates for 2024Q1 to 2025Q1 being +33.37%, +28.85%, +18.98%, +15.40%, and +12.88% respectively [2] - The company has effectively reduced sales expense ratio by 8.46 percentage points, with absolute sales expenses decreasing by 88.05 million year-on-year; R&D expense ratio decreased by 5.42 percentage points, and management expense ratio decreased by 2.07 percentage points [2] Group 2: Future Outlook - Revenue growth is expected to continue slowing in Q2 2025, with projected revenue between 2.05 billion and 2.08 billion, representing a year-on-year increase of 6.9% to 8.5% [3] - The company has a clear and rational plan for AI product development in the human resources service sector, with products for B2B, B2C, and management already planned and clear application scenarios identified [3] - The company anticipates that these AI products will begin gray testing in Q2 to Q3 of 2025, potentially contributing to future revenue [3]

Company Overview - Beijing Human Capital Group Co., Ltd. specializes in comprehensive human resource services, including business outsourcing, personnel management, compensation and benefits services, recruitment, and flexible employment services [1][2] - The company has received multiple accolades, including being recognized as a "National Employment Advanced Enterprise" and a "5A-level Human Resource Service Institution" by the Beijing Human Resources and Social Security Bureau [1] Financial Performance - For Q1 2025, the company reported revenue of 10.837 billion yuan, a year-on-year increase of 2.72%, and a net profit of 591 million yuan, reflecting a significant year-on-year growth of 180.41% [2] - The company's sales gross margin stands at 5.63% [2] Market Position - As of May 30, the company's stock closed at 19.98 yuan, down 1.67%, with a rolling price-to-earnings (PE) ratio of 9.66 times, and a total market capitalization of 11.311 billion yuan [1] - In comparison to the industry, the average PE ratio for the professional services sector is 55.62 times, with a median of 33.73 times, placing Beijing Human Capital 8th in the industry ranking [1][2] Shareholder Information - As of March 31, 2025, the number of shareholders for Beijing Human Capital is 13,514, a decrease of 615 from the previous count, with an average holding value of 352,800 yuan and an average shareholding of 27,600 shares per shareholder [1]

华泰证券研报指出，预计全年的电表招标需求或维持在9000万只左右(2024年8939万台)，本轮替换周期 高峰有望延续至2026年。价格层面，继续呈现下滑趋势，整体环比降幅约9.6%；市场集中度相对稳 定。后续分布式"四可"要求下对于智能电表模块升级要求与物联表需求提升，相关设备投资有望受到带 动。近年来电表企业股利支付情况较好，当前我们认为电表企业估值已处于低位。 ｜2025年5月30日星期五｜ NO.1中信证券：当前消费领域呈现出三条趋势主线 中信证券研报指出，当前消费领域呈现出三条趋势主线：1)回归理性、品质升级与消费平替并行；2)快 乐生活、为精神满足感和情绪价值付费；3)技术进步和迭代催生的消费新方向，这将提供诸多长期结构 性"新消费"机会，建议持续配置。维持建议从攻守兼备配置渐进至弹性配置，攻守兼备：消费互联网、 低估值高回报且经营有望率先企稳的乳制品、大众餐饮等板块。弹性配置：顺周期特征明显的餐饮供应 链、酒类、人力资源服务、酒店等行业。提振内需的政策预期将逐渐增强，消费配置表现有望迎来高 潮，再次强调增配消费。 NO.2华泰证券：电表企业估值已处于低位 NO.3中金：微盘风格可能呈现优势边际弱 ...