无印良品(上海)商业有限公司母公司株式会社良品计画发布2025财年第三季度(2025年3-5月)财报，业绩 超出预期，各阶段利润均刷新历史最高水平，进行了上调修正。 ·营业收入：得益于受国内外门店数量增加以及销售顺利推进的带动，实现了同比增长19.2%，达到 5,910亿日元。 ·关于既存店销售额同比预期，自2025年8月期第二季度公布修正计划以来，日本国内从112%上调至 113%，中国大陆从106%上调至108%，相应的东亚整体从105%调整至107%。 中国大陆市场持续向好，实现增收增益。第三季度既有门店及电商销售同比达111.9%，高于计划，主 要由护肤美容、家居用品等生活杂货类品类拉动。结合5月"良友节"会员促销活动及"618"大促销售表现 良好，推动整体业绩增长。由中国大陆市场驱动增长，带动母公司东亚业务营收与利润双增长，通过减 少降价与汇率优势，盈利能力得到改善。 中国大陆直营店铺+EC店铺已经连续10个月实现增长，累计达成同比117.3%增长。 【有关上调修正的具体说明】 2025年8月期全年展望：较4月的上调预期进一步上调营业收入及各阶段利润的全年预期。 ·相较于2025年8月期第二季度公布 ...

Group 1 - The "Happiness Neighborhood Flea Market" in Kangmin Community has become a popular event, featuring over 100 stalls selling various second-hand items, fostering community interaction and relationships [1] - The flea market was initiated to address residents' needs for a larger space to sell idle household items, following the success of the "Red Little Two Grocery Store" which allowed sharing of tools and selling of unused goods [1] - The initiative is part of a broader "Happy New Community" project in Huludao City, focusing on the needs of the elderly and children, and promoting community governance and shared responsibilities [1] Group 2 - The "Embroidery Workshop" in Fumin Community has trained over 300 residents in handcrafting skills, creating a supportive and engaging environment for participants [2] - The workshop has also developed a "small repair" service, providing free clothing repair services over 200 times, enhancing community support and resource sharing [2] - Community engagement is further encouraged through a points system, where residents earn points for participating in community activities, which can be exchanged for essential goods [3] Group 3 - The "Community Points Exchange Supermarket" has increased resident participation in community governance tasks from 32% to 78%, demonstrating its effectiveness in mobilizing community involvement [3]

Core Insights - The ongoing competition between Amazon and Walmart has intensified, with both companies launching significant promotional events to attract consumers [2][3] - Amazon's Prime Day is set to take place from July 8 to July 11, 2023, with an expected transaction volume of $23 billion, while Walmart will launch its "Walmart Deals" on the same day, extending its promotional period to July 13 [3][4] - The retail landscape is shifting as consumers prioritize lower prices due to economic pressures, leading to a "loyalty crisis" where price becomes the primary concern for shoppers [6][9] Amazon's Performance - In Q1 2025, Amazon's North American net sales reached $92.89 billion, a year-on-year increase of approximately 7.6%, but the operating profit growth slowed significantly [5] - The operating profit margin for Amazon in North America was only 6.3%, below market expectations, indicating a challenging environment for the company [5] Walmart's Growth - Walmart's e-commerce sales in the same quarter grew by 21% to $112.2 billion, achieving profitability for the first time in its e-commerce segment [5] - Walmart's market penetration in e-commerce has surged to 43%, making it the second-largest e-commerce platform in the U.S. after Amazon [5] Consumer Behavior Trends - A significant portion of American consumers are experiencing financial strain, with over half reporting their financial situation as "average" or "poor," leading to a decline in discretionary spending [6] - The trend of consumers seeking lower-priced goods has been noted, with discount retailers like Dollar General reporting a shift towards essential purchases [6] Retail Strategy Shifts - Retailers are increasingly focusing on online sales, with many closing underperforming physical stores to concentrate on profitable areas [7][8] - Companies like Kohl's have closed multiple stores as part of a strategy to enhance efficiency and profitability, despite ongoing sales declines [8] Future Outlook - The retail industry is expected to undergo significant changes, with a focus on fewer, higher-quality stores rather than a larger number of mediocre ones [9] - Retailers must adapt to evolving consumer preferences and economic conditions to remain competitive in the market [9]

不久前，第四届"网络文学青春榜"发布，季越人的《玄鉴仙族》、半麻的《赛博剑仙铁雨》、米花的 《鱼灯引魂记》、核融炉的《隐秘爱意游戏》等12部作品上榜。这些作品中，有的借用传统文化元素， 有的用瑰丽想象编织故事，其中不乏引发千万读者共鸣的现象级作品。 "网络文学青春榜"是一份以大学生、青年读者为评价主体的榜单，上榜作品折射出新世代的审美风尚与 文学趣味。该榜单创设于2021年，由扬子江网络文学评论中心在《青春》杂志开辟"网络文学评论"专 栏，以榜单推介、作者访谈、专业评论与粉丝书评相结合的方式，按月推出兼具时代性与创新性的网络 文学作品。2024年度"网络文学青春榜"由北京大学、山东大学、中南大学、安徽大学、南开大学、首都 师范大学、杭州师范大学、南京师范大学等8所高校轮流负责每月的榜单遴选，并在此基础上，以大学 生投票与顾问专家共同遴选的方式推出年度榜单。 观察上榜作品不难发现，今天的青年读者审美趣味正在发生转变。以往我们认为网络文学都是动辄上百 万、几百万甚至上千万字的大体量作品；如今，"短篇"网络文学纷纷兴起。最近一两年，大量20万字乃 至万字左右的"短篇"爆款如雨后春笋般涌现，"短篇"作为一种新的网络文 ...

6月26日，坐落于日本大阪心斋桥商圈的义乌市场正式开业迎客。这标志着"世界超市"在全球布局上又 迈出关键一步。 小商品城(600415)副董事长、总经理包华表示，大阪义乌市场的开业，是商城集团与傲可凡合作历程中 的又一重要里程碑。"以此次开业为新起点，商城集团将充分发挥义乌市场主体供应链优势，整合傲可 凡丰富的线上采购商资源，实现精准对接，让义乌好货在日本市场大放异彩。" 据了解，大阪义乌市场定位为专业邀约制批发市，由义乌商城集团携手日本战略合作伙伴傲可凡集团精 心打造，精准聚焦当地市场需求，汇聚了丰富多样的优质商品，涵盖日用杂货、服装、美容、健康、家 庭装饰等多个品类。 开业首日，市场内人流如织，气氛热烈，许多大阪当地采购商前来光顾，在"家门口"完成了看样、选 品、下单。 大阪义乌市场之所以备受期待，源于其显著的运营优势。市场拥有专业的本地化运营团队，深谙日本市 场规则与消费习惯。日本傲可凡集团具备独特商业资源优势，其运营的日本最大电子商务价格检索平 台，以及日本本土头部B2B采购平台NETSEA拥有超过54万中小买家会员，他们都将成为大阪义乌市场 做义乌货源对接服务的目标潜在客户。 这也是继迪拜之后，义乌 ...

行业研究 证 券 研 究 报 告 华创证券研究所 证券分析师：吴一凡 电话：021-20572539 邮箱：wuyifan@hcyjs.com 执业编号：S0360516090002 证券分析师：梁婉怡 邮箱：liangwanyi@hcyjs.com 执业编号：S0360523080001 证券分析师：吴晨玥 邮箱：wuchenyue@hcyjs.com 执业编号：S0360523070001 华创交运|红利资产月报（2025 年 6 月） H 股较 A 股表现更优，重视港股红利资产投 推荐（维持） 资机会 交通运输 2025 年 06 月 23 日 证券分析师：霍鹏浩 邮箱：huopenghao@hcyjs.com 执业编号：S0360524030001 证券分析师：卢浩敏 邮箱：luhaomin@hcyjs.com 执业编号：S0360524090001 联系人：李清影 邮箱：liqingying@hcyjs.com 行业基本数据 | | | 占比% | | --- | --- | --- | | 股票家数(只) | 122 | 0.02 | | 总市值(亿元) | 33,240.61 | 3.34 | ...

Core Viewpoint - *ST Jinguang's stock will be delisted from the Shanghai Stock Exchange due to serious violations, including false financial reporting over multiple years [1][3]. Group 1: Company Announcement - On June 20, *ST Jinguang announced that it received a self-regulatory decision from the Shanghai Stock Exchange to terminate its stock listing [1]. - The delisting process will begin on June 30, with a trading period of 15 trading days, and the expected last trading date is July 18 [3]. Group 2: Regulatory Actions - The company was found to have inflated profits through false trading activities and misreported income in its annual reports from 2022 to 2024, leading to administrative penalties from the Liaoning Securities Regulatory Bureau [3]. - The company has faced continuous false reporting for four consecutive years from 2020 to 2023, which constitutes a major violation triggering mandatory delisting [3]. Group 3: Company Background - *ST Jinguang was established in 1993 and is recognized as the first port in China to implement a shareholding system separating government and enterprise operations [3]. - The company's main business includes oil products, grain, general cargo, and container operations [3]. Group 4: Shareholder Information - As of the end of the first quarter of this year, *ST Jinguang had a total of 78,800 shareholders, a decrease of 3,913 compared to the end of 2024 [4].

Group 1 - Kroger's latest quarterly sales exceeded expectations, indicating that consumers continue to purchase essential goods even during economic turmoil [1] - The company's same-store sales growth, excluding fuel, was 3.2%, outperforming Wall Street analysts' expectations [1] - Kroger raised its full-year sales forecast to a range of 2.25%-3.25% but maintained other financial guidance unchanged [1] Group 2 - Kroger reported Q1 revenue of $45.12 billion, a year-over-year decline of 0.4%, which was below market expectations [1] - The non-GAAP earnings per share were $1.49, higher than the market expectation of $1.52 [1] - The CFO stated that despite the strong performance, macroeconomic uncertainties remain, leading to unchanged performance guidance [1] Group 3 - Kroger plans to close approximately 60 stores over the next 18 months, which will result in a $100 million impairment charge [1] - The company's stock has risen 7.2% year-to-date, outperforming the S&P 500 index [1] Group 4 - Consumers are increasingly focused on value, opting for promotional or lower-priced products, while some consumer confidence indicators remain weak [2] - The impact of President Trump's tariff policies has reignited concerns over inflation [2] - Kroger is in need of new growth points following the failed merger with Albertsons and the departure of its long-serving CEO [2] Group 5 - Other retailers, like Walmart, have maintained their full-year sales and profit forecasts but have refrained from providing guidance for the current quarter [3] - Target, which relies more on apparel and general merchandise sales, has lowered its sales expectations [3] Group 6 - Overall, food inflation has eased since reaching a 40-year peak in 2022, but prices for certain categories continue to rise [4] - The CEO of Albertsons noted that cocoa, coffee, cooking oil, and certain cuts of beef are becoming increasingly expensive [4]

Group 1 - The core viewpoint of the news is that Xiamen Port Development Co., Ltd. is experiencing a decline in stock price and financial performance, with a significant drop in revenue and net profit in the latest quarterly report [1][2] - As of June 19, the closing stock price of Xiamen Port was 7.92 yuan, down 4.00%, with a rolling price-to-earnings (PE) ratio of 31.69 times, and a total market capitalization of 5.875 billion yuan [1] - The average PE ratio for the shipping and port industry is 13.63 times, with a median of 14.94 times, placing Xiamen Port at the 29th position in the industry ranking [1][2] Group 2 - In terms of capital flow, on June 19, Xiamen Port saw a net outflow of 44.0587 million yuan, with a total outflow of 77.6843 million yuan over the past five days [1] - The main business segments of Xiamen Port include bulk cargo handling and storage, port logistics services, and port trade, with key products such as bulk cargo handling, towing services, agency services, and cross-border e-commerce logistics [1] - The latest quarterly report for Q1 2025 shows that the company achieved an operating revenue of 4.328 billion yuan, a year-on-year decrease of 31.65%, and a net profit of 63.0931 million yuan, down 18.46%, with a gross profit margin of 4.73% [1]

公司公告汇总 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 本周关注点 公司公告汇总：天海防务为子公司提供合计不超过1171万美元的反担保及1000万元人民币的综合 授信担保 截至2025年6月13日收盘，天海防务（300008）报收于6.41元，较上周的6.14元上涨4.4%。本周，天海 防务6月13日盘中最高价报6.61元。6月10日盘中最低价报5.98元。天海防务当前最新总市值110.77亿 元，在航海装备板块市值排名6/10，在两市A股市值排名1421/5150。 天海防务为全资子公司江苏大津重工有限公司与中国船舶工业贸易上海有限公司签署的2艘5900DWT多 用途杂货船项目提供合计不超过1171万美元的反担保，折合人民币约为8412.46万元，并签署《担保 （保证）合同》。此外，全资二级子公司江苏佳美海洋工程装备有限公司拟继续向江苏银行股份有限公 司镇江分行申请不超过1000万元人民币的综合授信，期限不超过1年，天海防务将为此提供连带责任保 证，并签署《最高额保证合同》。公司第六届董事会第十一次会议审议通过了2025年度 ...