中发展控股公告，预期截至二零二五年三月三十一日止年度，集团将录得公司拥有人应占亏损净额介乎 约1730万港元至1900万港元，与上年度的净亏损约3110万港元相比有所减少。亏损减少主要归因于公司 可换股债券衍生金融工具的公允值变动，由上年度的公允价值亏损转为本年度的公允价值收益。 ...

出品 | 妙投APP 作者 | 段明珠 头图 | 视觉中国 一代人有一代人的茅台，年轻人的"茅台"俨然变成了泡泡玛特的Labubu玩偶们。当泡泡玛特在港股上演"十倍神话"，不少曾经重仓贵州茅台的"茅粉"基金经 理，相继"转战"泡泡玛特，其中就包括汇添富的胡昕炜。 胡昕炜自2016年执掌汇添富消费行业混合基金以来，凭借对白酒板块的精准把握迅速崛起。2019年，他管理的基金以240.09%的五年收益率登顶行业榜首， 2021年巅峰时期管理规模高达768亿元，与张坤、萧楠、刘彦春并称"消费四大天王"。 后来的故事大家都很熟悉，茅台们跌跌不休，消费基金业绩大幅回撤、管理规模腰斩、争议不断。以胡昕炜的代表产品汇添富消费行业混合来说，截至2025 年6月，该基金净值从最高点的9.977元跌至4.591元， 如果再看其所在的汇添富基金，也会发现在排名相对稳定的基金界，近几年行业地位从曾经的前二剧烈下滑，几乎快跌出前十。2024年汇添富全年营收为 48.28亿元，同比下滑10.12%；净利为15.48亿元，同比增长9.33%，业内排名第9，主要靠降本增效。从非货币公募基金规模排名来看，汇添富2024年排名第 十，这是在其"降 ...

智通财经6月13日电，香港交易所信息显示，美国银行在哔哩哔哩-W的持股比例于06月10日从7.01%降 至6.72%。 ...

金十数据6月13日讯，大唐新能源(01798.HK)公告，根据本公司初步统计，2025年5月本集团按合并报表 口径完成发电量3100933兆瓦时，较2024年同比增加8.38%。其中，完成风电发电量2614613兆瓦时，较 2024年同比增加4.50%；光伏发电量486320兆瓦时，较2024年同比增加35.43%。截至2025年5月31日， 本集团2025年累计完成发电量16389300兆瓦时，较2024年同比增加10.32%。其中，完成风电发电量 14548728兆瓦时，较2024年同比增加9.38%；光伏发电量1840571兆瓦时，较2024年同比增加18.36%。 大唐新能源：本集团5月发电量同比增加8.38% ...

Core Viewpoint - The rapid rise and fall of Hu Shang A Yi's stock price post-IPO reflects a significant shift in the new tea beverage industry from aggressive expansion to a more rational approach, highlighting the challenges faced by the company and the sector as a whole [1][2]. Group 1: IPO and Market Reaction - Hu Shang A Yi's IPO was highly successful, with an oversubscription rate of 3616.83 times and over 940 billion HKD in frozen funds, marking it as the highest new stock subscription in Hong Kong after regulatory changes [2]. - On its first trading day, the stock price surged by 74.68% to 197.6 HKD, but subsequently dropped by 8.78% the following day, leading to a cumulative decline of over 20% within a week [1][2]. - By early June, the stock price had fallen to around 125 HKD, representing a nearly 37% decrease from its peak [1]. Group 2: Financial Performance and Challenges - In 2024, Hu Shang A Yi reported a revenue of 3.285 billion HKD, a year-on-year decline of 1.9%, and a net profit of 329 million HKD, down 15.2% [4]. - The company's business model heavily relies on a franchise system, with 99.7% of stores operated by franchisees, leading to a significant drop in single-store GMV from 1.559 million HKD in 2023 to 1.37 million HKD in 2024, a decrease of 12.12% [4][5]. - The closure rate of franchise stores increased to 12.7% in 2024, with over 1,000 stores shutting down, significantly higher than the industry average of 4% [4]. Group 3: Competitive Landscape and Market Dynamics - The new tea beverage industry is experiencing a slowdown, with a projected growth rate of only 8.2% in 2024 and further decline to 7.5% in 2025, leading to intense price wars among leading brands [6]. - Hu Shang A Yi faces challenges in both low-price and mid-to-high-end markets, struggling against competitors like Mi Xue Bing Cheng and Xi Tea, which have established stronger market positions [6]. - The company's reliance on third-party suppliers and inadequate cold chain coverage hinder its ability to reduce costs, making it difficult to compete on price with rivals [5][6]. Group 4: Future Outlook and Strategic Considerations - The company must focus on optimizing its supply chain and digital commitments, potentially allocating 60% of its IPO proceeds to these areas to regain growth momentum [6]. - Reducing food waste to levels comparable to competitors and leveraging scale procurement could help Hu Shang A Yi improve its cost structure and competitive positioning in the market [6].

中国到底有多少人做过医美？ 根据中研普华研究院《2025-2030年中国医美行业全景深度研究与发展趋势洞察报告》，医 美消费渗透率从2020年的3.2%增至2025年的5.8%。按照5.8%计算，中国目前超8000万人做 过医美。 这8000万人，最近两个月，可能都被一个品牌接连的负面新闻搞到寝食难安，这个品牌就是巨子生物旗 下的可复美。因为做过医美的人，大多数都买过可复美的产品来做项目后修复。而可复美在这个赛道， 也几乎没有平替，无论是敷尔佳还是修丽可，都难以形成威胁。 而这个负面新闻是怎么来的呢？首先要说说可复美在医美修复赛道上如此厉害的关键，是一个重要的成 分——重组胶原蛋白。 重组胶原蛋白是通过基因重组、细胞工厂构建、发酵和分离纯化技术获得的胶原蛋白。它通过模拟人体 胶原蛋白的结构和功能，更好地与人体胶原蛋白融合，从而发挥修复功效。 实际上，可复美也生怕消费者不知道，几乎在每款产品前面都以"重组胶原蛋白"冠名，"重组胶原蛋白 敷料""重组胶原蛋白肌御修护次抛精华""重组胶原蛋白光奕律时修护精华霜"…… 可复美官网截图 不过，尴尬的时刻来了。 5月24日，博主"大嘴博士"（郝宇）发布视频称，可复美的精华 ...

康方生物：中国创新药的"Deepseek时刻"或将到来 金十数据6月13日讯，近日，康方生物全球首创双特异性抗体新药AK112的海外试验受到全球瞩目，该 药曾在头对头试验中击败全球销售"药王"K药，眼下计划在美递交上市申请，其海外授权首付款约5亿 美元。康方生物在接受采访中表示，数据显示，今年一季度，中国药企达成33笔海外授权交易，总金额 达366亿美元，同比增长258%。康方生物、三生制药、石药集团等龙头企业，都在出海潮中取得喜人进 展。中国创新药的"Deepseek时刻"有望到来。 （一财） ...

Core Viewpoint - China Resources Vientiane Life (01209.HK) has seen its stock price reach a new high of 39.900 HKD, reflecting positive market sentiment and investor interest [1][2]. Company Overview - China Resources Vientiane Life is a leading property management and commercial operation service provider in China, listed on the Hong Kong Stock Exchange since December 9, 2020 [2]. - The company was included in the Hang Seng Index on November 18, 2022, and selected as one of the "Double Hundred Enterprises" by the State-owned Assets Supervision and Administration Commission in 2023 [2]. - The strategic goal of the company is to create a world-class enterprise and become the most influential light asset management company in China, focusing on urban quality life service platforms [2]. Business Model - The company operates under a "2+1" integrated business model, which includes commercial management, property management, and a large membership system [2]. - It aims to build a comprehensive ecosystem that encompasses all formats, customers, products, and services [2]. Brand Philosophy - The brand philosophy of China Resources Vientiane Life is "Extraordinary Vientiane," emphasizing the use of wisdom to lead urban quality life and enhance the value of spatial assets [2]. - The company seeks to endow cities and lives with extraordinary qualities through exceptional culture, technology, space, and ecology [2].

智通财经6月13日电，富力地产5月合约销售额13.7亿元人民币，今年累计合约销售额55亿元人民币。 ...

金十数据6月13日讯，6月13日，阿斯利康宣布与石药集团达成战略研究合作。双方将聚焦高优先级靶 点，合作推进新型口服候选药物的发现和开发，这些药物有望治疗多适应症疾病。根据协议，石药集团 将获得1.1亿美元的预付款，并有资格获得最高16.2亿美元的潜在研发里程碑付款及最高36亿美元的潜在 销售里程碑付款，以及基于有关产品年净销售额的潜在个位数销售提成。阿斯利康将有权行使选择权， 以获得在全球范围内开发和商业化候选药物的独家授权。 阿斯利康与石药集团达成战略合作，合作推进新型口服候选药物的发现和开发 ...