（文章来源：证券日报） 证券日报网讯诚益通8月4日在互动平台回答投资者提问时表示，公司脑机产品未来取得医疗器械注册证 并销售到医院之后就可以在医院使用了。 ...

Investment Rating - The investment rating for the company is upgraded to "Buy" [6] Core Views - The company has significant revenue growth potential, particularly in the electronic cigarette business, which is expected to see substantial volume growth [4][9] - The company has set ambitious revenue targets for 2025 and the following years, with cumulative revenue goals of 44.625 billion, 92.82 billion, and 144.585 billion yuan for 2025, 2025-2026, and 2025-2027 respectively [2][4] Summary by Sections Equity Incentive and Employee Stock Ownership Plans - The company has proposed a 2025 equity incentive plan, granting stock options to up to 921 middle management and key technical personnel at a price of 13.70 yuan per option, totaling no more than 21.65 million options, which accounts for 2.79% of the total share capital [2][4] - An employee stock ownership plan has also been proposed, allowing six executives, including the chairman, and up to 455 middle management personnel to purchase up to 12.35 million repurchased shares at a price of 11.3 yuan per share, representing 1.59% of the total share capital [2][4] Revenue Growth Potential - The electronic cigarette business is expected to contribute the majority of revenue growth, with a projected revenue increase of over 100% in 2025 due to resolved labor issues affecting 2024 orders [9] - The automotive electronics business is anticipated to grow by approximately 30% in 2025, driven by rapid development in rearview mirrors and cockpit control modules [9] - Other existing businesses are expected to maintain steady growth, with increased orders in engraving machines and recovery in health and environmental sectors [9] Profitability Outlook - The increase in the proportion of high-margin electronic cigarette business and the dilution of expense ratios due to scale effects are expected to drive net profit margins higher [9] - The company aims to achieve net profits of 2.5 billion, 5.0 billion, and 6.6 billion yuan for the years 2024 to 2026, corresponding to P/E ratios of 54, 27, and 21 respectively [9]

我给新关注的读者补补课，这个图的竖轴是利率，数字看最右边，横轴是时间，以年为单位。 每一年都有19个点，这19个点代表了美联储的19个成员的投票，他们是美联储理事会成员+联邦储备银行行长们。投票是不记名的，你们看2024年有一个 人投了最低的4-4.25%这一档，但公众并不知道投这一票的人是谁。 点阵图每年更新四次，3、6、9、12月各一次，根据这份点阵图可以看出2024年底的预期利率平均是4.4%，2025年底是3.4%，2026年底是2.9%，更远的长 期利率也差不多是3%左右的水平。 但是注意，这只代表当下的预期，随着每个月的经济数据更新，委员们的态度变化也会很快，事实上现在就比6月份的那一次很不一样。他们主要看两个 数据，通胀率和就业，既要防止通胀失控，又要防止失业攀升，然后就是左右摇摆找平衡。 如诸位所见，美联储最终选择了降息50个基点。 随后美联储对外发布了最新的利率点阵图，如下： 今天a股先跌后涨，终于迎来了久违的中阳，市场放量超过了6000亿，中位数+2.19%，感觉很久没有吃过这样一顿好的。 很难说 和昨晚美联储的降息没 有关系，但现在 怕就怕明天公布的LPR又降息落空， 到时候 少不得一顿 ...