Core Viewpoint - The China Securities Regulatory Commission (CSRC) has approved snack manufacturer Three Squirrels Co., Ltd. for an initial public offering (IPO) in Hong Kong, clearing a significant regulatory hurdle for the company's listing process [3]. Group 1: IPO Details - Three Squirrels plans to issue 81.5 million shares through the IPO [3]. - The company submitted its preliminary prospectus to the Hong Kong Stock Exchange on May 9, indicating that if the listing is not completed by November 9, an updated prospectus must be submitted [3]. Group 2: Financial Performance - In the first half of the year, Three Squirrels reported revenue of 5.48 billion yuan, an increase of approximately 8% compared to the same period last year, which had revenue of 5.07 billion yuan [3]. - The company's net profit for the same period fell sharply by 52%, from 290 million yuan to 138 million yuan [3]. Group 3: Market Context - Three Squirrels is among the increasing number of Chinese companies listed on the Shanghai and Shenzhen stock exchanges seeking a secondary listing in Hong Kong to leverage global capital markets and enhance international visibility [3]. - The company's stock price on the Shenzhen Stock Exchange has declined by 35% year-to-date [3].

Core Viewpoint - Temasek's investment portfolio has reached a historical high, with a net value of SGD 434 billion (approximately CNY 2.43 trillion), marking an increase of SGD 45 billion (approximately CNY 25.25 billion) from the previous fiscal year [2][3]. Group 1: Financial Performance - The one-year shareholder return rate is approximately 12%, with rates of 11.8% in SGD and 12.4% in USD as of March 31 [4][5]. - The 20-year and 10-year annualized return rates are 7% and 5%, respectively, indicating an overall shareholder return rate of 14% since its establishment in 1974 [5]. Group 2: Investment Strategy - Temasek aims to build a resilient and forward-looking investment portfolio for sustainable long-term returns, favoring leading companies in both emerging and mature markets [6]. - The investment portfolio is diversified across different regions and sectors, with 41% in Singapore-based companies, 36% in global direct investments, and 23% in cooperative investment projects, funds, and asset management platforms [5][6]. Group 3: Geographic Focus - Temasek's investment exposure to developed economies is 66%, with Singapore at 27%, the Americas at 24%, and China at 18% [8]. - Temasek has a long-term positive outlook on China's economy and has been actively investing in the Chinese market, leveraging its experience to attract foreign investors [8]. Group 4: Recent Developments - Temasek's subsidiary, True Light Capital, has recently registered a private equity fund in Shanghai, focusing on high-quality investment opportunities in the Greater China region, with a fund size of USD 3.3 billion (approximately CNY 24 billion) [8]. - Direct investments in China for the fiscal year 2025 include companies such as Meituan, PCG Power, Tencent, and Yum China [9].

综合美联社、哥伦比亚广播公司（CBS）、《华尔街日报》等媒体报道，5月3日， 美国投资人沃伦·巴菲特当日在伯克希尔·哈撒韦年度股东大会上宣布，他 计划在年底退休，辞去伯克希尔·哈撒韦首席执行官（CEO）一职，并将向董事会推荐格雷格·阿贝尔（Greg Abel）接任CEO。 巴菲特表示："自己仍然会偶尔现身，也许在少数情况下（我）会有用"，但各项决策将由格雷格·阿贝尔做最终决定。 巴菲特与阿贝尔共同出席伯克希尔·哈撒韦年度股东大会 截图自CNBC 伯克希尔的董事会将投票决定是否正式批准这一任命。巴菲特表示，他预计投票将一致同意。 巴菲特是伯克希尔的首席执行官、董事长兼投资负责人。《华尔街日报》报道，当他卸任时，这些职责将由包括阿贝尔在内的几个人分担。巴菲特一旦离 职，预计另外两名副手将负责管理庞大的投资组合。 格雷格·阿贝尔现年62岁，在加拿大草原地区出生长大，现任伯克希尔·哈撒韦能源公司董事长兼首席执行官，主要负责伯克希尔的所有非保险业务，覆盖建 材、化工、鞋类和糖果等领域。 据《华尔街日报》报道，阿贝尔在年轻时担任会计师时就显示出，他既精于研究资产负债表，也擅长阅人和与人交往。 在20世纪90年代初，时年3 ...