李嘉诚大部分资产竟不在国内，而是在英国？我们或许都被他骗了 李嘉诚的名字总让人联想到"香港首富""商界传奇"这些金光闪闪的标签，但很多人可能不知道，这位96 岁的老人在聚光灯下的财富故事，更像是一场精心设计的"障眼法"——当我们以为他的商业帝国扎根香 港时，他的核心资产早已在英国扎根发芽，甚至长成了遮天蔽日的参天大树。 但站在三十年后回望，这次收购更像是他布局英国的"定海神针"。 这个发现最初令人难以置信。 毕竟在媒体头条里，李嘉诚连续23年蝉联香港首富的新闻年年刷屏，他开发的楼盘、经营的超市、投资 的港口遍布香港街头巷尾。 直到翻开他的全球资产分布图，才会惊觉香港的资产不过是冰山一角：4000多亿元的英国资产版图里， 英国居民每天拧开的自来水龙头、连接手机的电信基站、照亮客厅的电力网络，甚至是火车经过的铁 轨，都流淌着李嘉诚的商业基因。 这种"润物细无声"的渗透，让英国《金融时报》都忍不住调侃："伦敦人每天支付的账单里，总有一份 会流进李先生的账户。" 时间倒回1991年，当李嘉诚第一次收购泰晤士河码头时，很多人以为这只是个普通的地产项目。 接下来的三十年里，他像编织渔网般在英国铺开投资：2005年拿下覆盖 ...

然而，报告也指出，当前中国消费者权益保护工作还面临四方面突出问题，并建议针对这些重点问题， 持续推进消费者权益保护工作。 四是"一老一小"消费重点侵权问题需要持续跟进治理。老年群体医疗保健消费领域的欺诈现象比较突 出，老年保险消费还需要进一步改善，未成年人沉迷网络等非理性消费的问题亟待解决，儿童智能手表 信息安全和诱导消费问题较为突出。(完) 一是消费领域法治环境需要进一步优化。消费者权益保护的制度供给需要进一步加强，司法保护机制有 待完善，执法机制需要持续优化。 （文章来源：中国新闻网） 二是新型消费侵权问题需要进一步加强治理。互联网消费中出现消费侵权新问题，绿色消费领域消费侵 权问题需要引起关注，职业闭店人侵权问题需加强监管治理。 中新社北京6月20日电 中国消费者协会20日发布的《中国消费者权益保护状况年度报告(2024)》指出， 2024年中国消费者权益保护工作在立法、行政、司法及社会保护等方面取得积极进展，进一步提升中国 消费者权益保护水平，激发消费活力。 三是民生领域消费侵权问题依然突出。金融服务消费者保护力度亟须加大，电信服务不规范经营行为需 持续治理，服装用品虚假宣传问题较为突出，旅游业服务质 ...

深圳多措并举推动服务贸易和数字贸易高质量发展。 近日，深圳市商务局、深圳市发展改革委联合印发《深圳市推动服务贸易和数字贸易高质量发展实施方案》（简称《实施方案》），聚焦推动数字贸易细分领域创 新发展、服务贸易重点领域创新提升、培育壮大出海市场主体以及促进资源要素跨境流动等方面，提出20条具体措施，加快提升深圳服务贸易、数字贸易国际竞争 力，为深圳加快建设更具全球影响力的经济中心城市和现代化国际大都市提供重要支撑。 《实施方案》从促进数据要素畅通跨境、加速技术成果转化转移、金融支持服务贸易和数字贸易发展、畅通人才跨境流动渠道等4个方面着手，促进贸易资源要素 高效流动。 具体来看，《实施方案》明确提出，将在前海、河套等区域试点数据跨境流动"负面清单"制度，支持经备案的科研机构及企业在保障安全前提下，实现科学研究数 据跨境互联互通，探索为符合条件的外商投资企业设立数据跨境传输"绿色通道"。 《实施方案》明确，到2030年，可数字化交付的服务贸易规模占全市服务贸易总额的比重提高至50%以上。到2035年，可数字化交付的服务贸易规模占全市服务贸 易总额的比重提高至55%以上。 促进贸易资源要素高效流动 同时，开展科技产 ...

Core Viewpoint - AT&T is a significant player in the telecommunications sector, with over 100 million American consumers and nearly 2.5 million businesses relying on its products and services, making it a popular choice for income investors seeking reliable dividend income [1]. Dividend Calculation - The recent quarterly dividend payment for AT&T's common stock is $0.2775 per share, leading to an annualized dividend payment of $1.11 per share [4]. - To achieve an annual dividend income of $5,000, an investor would need to own approximately 4,504.5 shares of AT&T at the current dividend level [5]. - Investors can choose to buy 4,504 shares for slightly less than $5,000, purchase fractional shares to reach exactly 4,504.5, or round up to 4,505 shares for a little over $5,000, costing around $123,031 at the current share price [6]. Dividend Stability and Future Outlook - AT&T's dividend payout has historically been stable, with a 36-year streak of increases until a 46% cut following the spinoff of its entertainment unit in 2022 [8]. - Future dividend payouts may fluctuate, requiring more shares to maintain the same income level if dividends are cut again, or potentially allowing for an increase if the company decides to enhance its dividend to attract income investors [9][10]. - The current dividend payout ratio is approximately 68%, indicating sufficient financial flexibility to maintain dividends at current levels [11]. - In Q1 2025, AT&T paid around $2.03 billion in dividends while generating free cash flow of $3.1 billion, resulting in a payout ratio based on free cash flow of about 65.5%, suggesting the company can sustain its dividend payments without cuts [12]. Conclusion - Overall, AT&T's dividend appears relatively secure, allowing investors to potentially earn at least $5,000 in annual dividend income by investing in 4,505 shares [13].

Group 1 - The core focus of the recent shareholder meeting of Cheung Kong Holdings (长和) was the progress of the port transaction, with Mediterranean Shipping Company (MSC) being one of the potential investors [1] - The management, including Li Ka-shing, participated in the meeting via video, and there was a notable absence of in-depth commentary on business matters, reflecting uncertainty about future predictions due to unpredictable factors [1][4] - Li Ka-shing expressed concerns about the impact of changing tariff policies and geopolitical tensions on the global economy, making it difficult to forecast future trends [4] Group 2 - The company indicated that the decision to increase dividends in the future will depend on various factors, including performance and external economic conditions [4] - The port and related services segment is the smallest among Cheung Kong's business divisions in terms of revenue and EBITDA contribution [4] - The retail business is expected to see strong growth in Europe and Asia, with plans to increase store numbers and enhance the "O+O" (online and offline) service platform [4][5] Group 3 - Cheung Kong is actively cooperating with local authorities regarding the merger of its UK telecom subsidiary "Three UK" with Vodafone, with expectations to complete the process by the end of the year [5]

西班牙电信：西班牙部分地区服务中断后已恢复所有服务。 ...

Group 1 - The article discusses the challenges faced by foreign companies, particularly in the automotive sector, when entering the Indian market, highlighting the case of BYD and its concerns over potential investment in India [1][22] - It mentions the significant tax penalties imposed on Volkswagen by the Indian government, amounting to $2.5 billion, due to alleged tax evasion over a decade [4][11] - The article outlines the complex tax structure in India, where different tax rates apply to complete vehicle imports versus component imports, leading to disputes over tax reporting practices [6][8] Group 2 - The article describes how other foreign automakers, including Kia and Hyundai, have faced similar tax issues in India, with total penalties for various companies reaching $6 billion [11][13] - It highlights the experience of SAIC's MG Motors in India, where the company faced regulatory hurdles and investigations after attempting to increase investment [14][20] - The article also discusses the broader trend of foreign companies facing difficulties in India, with many companies reconsidering their investments due to regulatory challenges and potential penalties [59] Group 3 - The article provides examples of other industries facing similar challenges, such as Xiaomi, which had its assets frozen by Indian authorities over alleged violations of foreign exchange laws [27][31] - It discusses the Indian government's push for localization in various sectors, pressuring foreign companies to comply with local ownership and operational requirements [33][55] - The article concludes by emphasizing the hostile environment for foreign investment in India, with many companies opting to withdraw or halt their projects due to the unpredictable regulatory landscape [59][60]

2、 《 煤价跌倒，火电吃饱 》摘要 ■ 今年4月21日，国务院新闻办公室举行的发布会再度提到"游戏"行业，这标志着游戏行业再次被纳 ■ 经济增速不如预期，但用电增速已在3月得到改善，表明用电量进入底部区域，市场对用电量的负 面预期已大幅钝化。 ■ 发改委和能源局发布了煤电升级专项行动方案，推动煤电机组改造升级，增强灵活调节能力，预计 煤电在现货市场中的表现将大幅提升。 ■ 煤价下跌对火电企业构成明显利好，尽管电价有所下调，但电价下跌幅度远小于煤价带来的成本降 低，火电企业的盈利能力因此得到提升。 ■ 预计到2027年，AI产业链的用电量将达到三峡水电站全年的发电量，这为电力需求提供了强劲的增 长动力。 ■ 随着煤价下跌，火电企业的成本降低，股息率有望提升，特别是对于一些高股息的火电企业（如华 电国际、华能国际等），将吸引更多的长线资金。 ■ 尽管绿电板块普遍回调，但部分优质绿电PE仍具备较好的底部价值，A股和港股的部分绿电公司如 龙源电力H、中闽能源具有不错的投资潜力。 ■ 由于煤价下跌，火电企业股息率有望提升，投资者可以关注股息率较高的火电公司，如华电国际 （H股25E股息率6.5%）、华能国际（H股股息 ...

| 申万期货品种策略日报——股指 | 2025/4/25 | 星期五 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 申银万国期货研究所 贾婷婷（从业资格号：F3056905；交易咨询号：Z0016232 ）jiatt@sywgqh.com.cn;15921620356 | 申银万国期货研究所 柴玉荣 （从业资格号：F03111639；交易咨询号：Z0018586）chaiyr@sywgqh.com.cn;18802979529 | | | | | | | | | | | 一、股指期货市场 | IF当月 | IF下月 | IF下季 | IF隔季 | | | | | | | | 前两日收盘价 | 3765.20 | 3734.00 | 3677.00 | 3652.20 | 前日收盘价 | 3771.20 | 3736.80 | 3681.00 | 3657.20 | | | 涨跌 | 4.20 | 1.60 | 3.80 | 6.00 | 沪深300 | 涨跌幅 | 0.11 | 0 ...

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