近期，奥运冠军全红婵遭遇长期网络暴力引发了大量热议。据悉，全红婵自2022年开始，就受到一个名为“水花征服者联盟”的微信群内的大量人身攻击，该社群内充斥着各种侮辱性绰号以及诽谤和谩骂等。全红婵的经历并非个例，包括谷爱凌、朱易、苏炳添、陈梦在内的体坛明星也都遭受过不同程度的网暴，例如对他们的个人状态和外貌等进行大规模羞辱和攻击等。 作为一位从青少年时期就开始经历网暴的年轻女性，全红婵遭受的网络暴力远远超过了她这个年纪所能承受的程度。 这一事件再次让“网暴”置于聚光灯之中，也让治理网暴显得更为迫切，尤其是在青少年网暴现象在全球范围内上升的趋势下。 据世界卫生组织于2024年发布的《学龄儿童健康行为》（Health Behaviour in School-aged Children, HBSC）研究，在44个国家和地区范围内，有15%-16%的青少年报告曾遭受网暴，这一数据相比于2018年有所增加[1]。联合国于今年3月发布的一份最新报告则指出，全球约3万名儿童中有约三分之二表示网暴现象增加[2]。中国学生群体相关数据显示， 网暴受害高达57%，而有约27%的个体同时是施害者和受害者 [3]。 在这些严峻数据的背后，青少年群体可能正在遭受 辱骂诋毁、网络骚扰和跟踪、冒充他人、隐私泄露、谣言扩散、群体围攻、污名化、排斥孤立等一系列伤害 ，也可能面对近年来逐渐升级的 “深度伪造”和“网络开盒” [4]等更为极端和难以应对的情形。这些行为不仅会在短期内引发 强烈的抑郁、焦虑、羞耻与社会退缩 ，更可能通过 持续激活大脑的应激与社会威胁系统 ，对青少年的 情绪调节能力、自我认同乃至长期心理健康 造成深远影响。 很多人将网暴归因于平台机制或技术环境，但这很可能只是表层现象。若要真正理解并应对这一问题，需要回到其更深层的本质：一种由我们的天然倾向驱动并通过网络环境放大的系统性产物。这些倾向潜藏着大脑最原始的机制：对情绪和威胁的敏感，对模糊信息的过度解读，以及对区分“自己人”和“外人”的执着。 是什么推动了网暴？ 网暴如何始于大脑失衡 如果将网络暴力放在“霸凌/欺凌”的范畴之下， 可以发现这种行为本身和我们大脑处理威胁和情绪的反应息息相关 。 在负责识别威胁和情绪的关键区域杏仁核中，已有研究观察到 欺凌者的杏仁核水平异常 。例如，在分析了49名青少年在情绪识别任务下的大脑活动后，一项发表...

Kingsway Financial Services press release ( KFS ): Q1 revenue growth of 37% to $39.0 million. KSX revenue growth of 81% to $21.1 million. Consolidated net loss was $2.2 million, compared to a net loss of $3.1 million. Consolidated adjusted EBITDA was $2.4 million, compared to $1.4 million. The company had total net debt of $63.9 million as of March 31, 2026, compared with $62.4 million as of December 31, 2025. Reiterates double-digit organic growth budget for both KSX and extended warranty in 2026. More on Kingsway Financial Services Kingsway Financial: Reinflation Risks Complicate NOL Harvesting Kingsway Financial Services Inc. (KFS) Q4 2025 Earnings Call Transcript Kingsway targets double-digit organic growth and 3–5 acquisitions in 2026 as KSX segment leads revenue gains Historical earnings data for Kingsway Financial Services Financial information for Kingsway Financial Services

Kimbell Royalty Partners ( KRP ) declares $0.41/share quarterly dividend , 10.8% increase from prior dividend of $0.37. Forward yield 11.3% Payable May 27; for shareholders of record May 19; ex-div May 19. See KRP Dividend Scorecard, Yield Chart, & Dividend Growth. More on Kimbell Royalty Partners Kimbell Royalty Partners, LP Common Units (KRP) Q1 2026 Earnings Call Transcript Kimbell Royalty Partners: 10% Yielder, But I'd Rather Own These Instead Kimbell Royalty Partners: Fundamental And Investment Stability Amid Market Volatility Kimbell signals 2026 activity uptick as it raises distribution to $0.41 and reiterates 75% payout policy Kimbell Royalty Partners Q1 2026 Earnings Preview

崑崙芯A+H雙線衝刺，百度芯片「斷奶」倒計時 富途牛牛

格隆汇5月8日｜唐人神公告，公司2026年4月生猪销量55.26万头，同比上升26.98%，环比上升2.04%；销售收入合计4.62亿元，同比下降39.33%，环比下降21.29%。2026年1—4月生猪销量196.89万头，同比上升15.98%；销售收入22.06亿元，同比下降25.1%。

David Hinton will remain in post while successor is found, utility says, a week after group’s chairman quit The chief executive of South East Water has announced plans to step down just a week after the group’s chairman quit in the wake of major supply outages in Kent and Sussex. The supplier said David Hinton , who joined the group’s board in 2013, would stay in post to allow an “orderly transition” over the summer while the group hunts for his successor. Continue reading...

格隆汇5月8日｜据央视，由中国科学院牵头，联合武汉大学、华中科技大学和武汉量子技术研究院等团队联合研发的国内首台双核原子量子计算机日前正式发布，这台量子计算机首次将量子处理器从“单核”升级为“双核”，为我国高端算力自主化提供了关键支撑。这台叫作“汉原2号”的超级计算机内部没有传统的芯片，它通过一套精密光学系统控制着200个原子进行运算。技术人员介绍，这200个原子就相当于200个超级大脑，分成两个方阵形成双核架构，一个用来计算、另一个实时纠错，让效率翻了一倍。据了解，量子计算能大幅提升密码破解等特定领域的计算效率，在股票的投资组合优化、蛋白质设计、新药研发等方向有广阔应用前景。目前，“汉原1号”已经在中国移动云平台投入运营，并将出口到海外，“汉原2号”也在加快商用进程。

据知情人士透露，在一些投资者表现出犹豫之后， 软银 集团已将用OpenAI股权作抵押贷款100亿美元的计划缩减了40%。 他们表示，在近几周与潜在贷款提供方的磋商中，软银和帮它寻求这笔保证金贷款的银行家谈到的目标金额已经低至60亿美元。相关讨论仍在进行中，包括最终借款规模在内的细节仍可能发生变化。因事未公开，知情人士要求匿名。 他们还说，这是因为被推介的投资者表达了担忧，认为OpenAI这样一家未上市公司很难确定估值。 据媒体4月援引知情人士报道，在竞争对手Anthropic扩大了编程和企业市场份额之后，OpenAI今年早些时候未能实现多项月度销售目标。报道称，OpenAI还未能实现内部设定的ChatGPT周活跃用户数目标 —— 到去年年底增至10亿。OpenAI首席财务官Sarah Friar安抚了对未达成内部目标的担忧，称公司正在实现既定目标，其产品“需求非常旺盛”。 孙正义在东京举行的AI大会上发表讲话 整体而言，围绕大型科技公司在AI领域投入的数千亿美元能否很快产生足够的利润，争论越来越激烈。软银已经为了大手笔投资OpenAI背负了数以十亿美元计的债务。 知情人士还称，被推介的投资者包括私募信贷公司、金融机构和对冲基金，对潜在借款的讨论早在3月就已开始。 软银发言人拒绝置评。 责任编辑：刘明亮

格隆汇5月8日｜据外媒Business Insider，谷歌内部文件显示，从今年下半年开始，谷歌将允许应聘者在“代码理解”面试环节使用谷歌官方认证的AI助手，要求应聘者对现有代码库进行阅读、排错与优化。谷歌发言人证实了这一计划，并称试点阶段应聘者将统一使用谷歌自研AI模型Gemini作为辅助工具。面试官将考核应聘者的AI应用熟练度，包括提示词工程、AI输出结果核验以及代码调试能力。这一变化背后，是AI对软件开发岗位的深度渗透。随着谷歌、Canva等公司将AI协作能力纳入面试标准，工程师岗位的招聘逻辑正在被重新书写。

财联社5月8日讯（编辑 梓隆）， 今日（5月8日），小 微盘股 集体活跃，截至收盘，微盘股指数创 历史新高 ， 中证200 0、 国证2000 两大代表小微盘股的指数也同步走高，双双刷新2015年6月以来近十年高位。 注：微盘股指数今日创历史新高（截至5月8日收盘） 小微盘股热度激增，主要指数估值扫描 近期，A股市场交投活跃度持续攀升，截至今日收盘，沪深京三市已连续3个交易日成交额在3万亿元以上。其中，5月6日成交额达3.25万亿元，创今年1月29日以来新高。其中，小微盘股热度也持续高涨，其中，中证2000成分股今日成交额6637亿元，创1月末以来新高，国证2000成分股成交额也跃居年内高位。 注：中证2000、国证2000近期成交额变动情况（截至5月8日收盘） 不过，从成交额占比数据上看，中证2000、国证2000这两大小微盘股代表指数的成分股近期该比例则仍继续维持在年内均值水平。截至今日收盘，其两者成交额占比各达21.58%、32.14%，分别为4月22日、4月23日以来近1周新高。以年内数据统计，中证2000、国证2000成交额占比数据较2025年平均规模均有小幅下降。 注：中证2000、国证2000近期成交额占全市场比例变动情况（截至5月8日收盘） 从估值层面来看，受近期持续走高提振，中证2000、国证2000指数目前市盈率、市净率均升至高位。截至今日收盘，其两者当前市盈率分别达225.66倍、71.00倍，各处于历史100%、82.39%分位，市净率分别达3.22倍、3.08倍，各处于历史100%、73.01分位。 注：中证2000指数近期市盈率及分位情况（截至5月8日收盘） 中小盘 股年内领跑，超级大盘表现不佳 相较于大盘权重，中小盘股今年以来表现活跃，截至今日收盘， 中证500 、国证2000、中证2000年内分别上涨近16.5%、15.9%、15.2%，而代表 大盘股 的 上证50 、 沪深300 指数则分别下跌0.9%、0.3%。值得注意的是， 中证500 指数今日盘中一度也创下2015年8月以来新高，但随后走低，并小幅收跌。 注：市场主要指数年内涨跌幅情况（截至5月8日收盘） 个股层面来看，截至今日行情，以去年年末时总市值统计，市场年内上涨股主要集中在20亿元至1000亿元的个股，且收涨比例均过半数。其中，500亿元至1000亿元的中大盘股表现出...

Tom Werner/DigitalVision via Getty Images By Carsten Brzeski , Global Head of Macro German industrial production weakened further in March as the war in the Middle East started to take its toll. The just-released industrial data for March illustrate the struggle of German industry to gain momentum in the first quarter of the year. Not only was the February drop revised downwards, with a 0.7% month-on-month decline in March, but industrial production in the full first quarter was more than 1% weaker than in the final quarter of 2025. The March drop was mainly driven by falling production in manufacturing. On a more positive note, activity in the construction sector rebounded somewhat in March. At the same time, export growth slowed to 0.5% MoM, from 4.7% in February. As imports surged once again, this time by more than 5% MoM, the trade surplus narrowed significantly, to the lowest level since November last year. Downward revision of first quarter growth has become more likely The German economy surprisingly showed a positive performance in the first quarter, growing by 0.3% quarter-on-quarter. Against this background, this morning’s industrial data is even more of a look in the rearview mirror than normal. Still, the fourth consecutive month without growth in industrial production provides at least two important insights into the German economy: As industrial production is down on the quarter and the trade surplus narrowed significantly in March, a downward revision to the first estimate of first-quarter GDP growth has become likely. It needs at least 1% growth in the second quarter to bring industrial production back into positive territory. A development that currently looks unlikely. Outlook has clearly worsened once again Looking ahead, not only has the outlook for German industry – and for the entire economy – worsened again, but the war in the Middle East and soaring energy prices have again exposed the fact that Germany is one of Europe’s largest net importer...

Political Warfare? Advocacy Group With Ties To Lefty Unions Targets SpaceX IPO The SOC Investment Group is a union-aligned shareholder advocacy organization formerly known as CtW Investment Group. It works with union-sponsored pension funds to mount pressure campaigns against public companies. SOC's latest pressure campaign appears to target Elon Musk's SpaceX in an attempt to delay or derail the upcoming IPO. The union-affiliated pension fund adviser, linked to the Service Employees International Union (SEIU) - a labor union that has supported the left-wing, billionaire-funded " No Kings " protest against President Trump... ... has asked regulators to review the accuracy and reliability of SpaceX's financials, ensure auditor independence, and examine accounting around transactions with other Elon Musk-linked companies, including xAI and Tesla. The InfluenceWatch database via Capital Research Center shows SOC's ties with lefty unions... To note, SOC is weirdly obsessed with unhinged globalist ESG investment activism that damaged the U.S. economy during the Biden-Harris regime years. SOC warned that investors could be exposed to SpaceX, whose valuation may decline once its financial disclosures are independently reviewed. Oddly enough, SOC is not a SpaceX shareholder but has previously pushed governance pressure campaigns at major companies, including Tesla. "We are specifically concerned that SpaceX's IPO will expose numerous investors, many unwillingly, to a company whose value may decline once its financial disclosures can be independently assessed and verified," the letter said . SpaceX is preparing to go public in less than two months, and SOC's letter to regulators appears intended to create regulatory friction with the SEC over what could become the largest IPO in history. The timing is very notable. A successful SpaceX IPO at a multi-trillion-dollar valuation could dramatically expand Elon Musk's wealth and power, potentially transforming him into the world's...

政府建議向資助中小企升級轉型的「BUD專項基金」，注資16.3億元，並擴大基金資助地域範圍等。有議員關注去年將基金首期撥款上限，由百分之75下調至百分之20，資助比例亦由原本的1比1，調整為1比3，影響中小企「起動」。 民建聯選舉委員會界別議員葛珮帆指出︰「即如果申請100萬，其實首期撥款只有5萬，很多中小企反映，(基金)真的能幫忙，但申請100萬，起步才給5萬，其實對他們而言也是很困難的事，我想問政府會否考慮改一改？」 商務及經濟發展局副局長陳百里稱︰「之前也有跟大家分享過，我們的問題個案有大幅增長，因為首期撥款，我們批出之後，企業是要完全按照指標，一定完成得到工作，才能批出餘款，有很多的企業都無法達標，令我們花了很多時間、精力去追討那些款項，我們認為降低至百分之20後，我們看到情況是大有改善，只要企業能夠交到他們所訂的指標的話，(獲得款項)也只是時間問題。」

中国驻日本大使馆8日发布提醒说，今年3月以来，日本多地山区处于融雪期，徒步登山被困事件频发，在日同胞应高度重视户外活动安全，做好个人防护。中国驻名古屋总领事馆提醒中国公民开展徒步登山等户外活动时，加强安全防范，认真规划路线与时间，避免进入危险限制区域，并按当地要求履行审批报备手续；提前通过日本气象厅等官方途径了解天气、雪况及能见度信息，遇恶劣天气及时取消或终止行程；充分做好行前准备并制定应急自救预案。如遇紧急情况，及时拨打日本紧急求助电话，并联系中国驻日本使领馆求助。(新华社)

Gary Yeowell/DigitalVision via Getty Images trivago N.V. ( TRVG ) could be an attractive turnaround investment opportunity. The hotel price comparison platform's previous troubles have subsided through a shift to brand marketing that seems to be working out well. Earnings are improving, and trivago's strong balance sheet already includes net cash that covers most of the company's market cap. Due to previous issues, trivago stock's history isn't pretty. The stock has lost nearly all of its value during the past decade, leaving the stock with a very cheap valuation. Seeking Alpha A Brief Introduction to trivago & Its Recent Years’ Performance trivago is an online hotel search and price comparison platform. In essence, when a tourist wants to find a hotel and the best price for that hotel for a trip, trivago compares different travel agencies’ prices and refers the tourist to that agency. trivago partners with online travel agencies like Booking Holdings Inc. ( BKNG ) and Expedia Group, Inc. ( EXPE ), and generates revenues primarily through referral income. The company’s most important market is Developed Europe, meanwhile Americas make up another significant market. The rest of the world generates meaningful revenues as well but isn’t as important. TRVG Q1'26 Investor Presentation The past few years haven’t been pretty for trivago as revenues started to trend downward from 2018 forward. Reduced bidding intensity by booking agencies resulted in fewer qualified referrals even before Covid started, and similar pressure has echoed in more recent years as well. More recently, trivago failed to regain revenues in 2023 and 2024 alongside the travel industry as Covid started to subside, as Google’s ( GOOG ) ad format change impaired trivago’s search visibility and the performance marketing channel’s competition intensified. TRVG Q1'26 Investor Presentation trivago’s reliance on Google essentially hampered the company’s performance. Competitor Tripadvisor, Inc. ( TRIP ) manag...

美国国务院正着手吊销拖欠子女抚养费的美国公民的护照，先从欠费10万美元以上的父母开始。美国国务院7日表示，吊销行动从8日启动，针对拖欠子女抚养费数额超过10万美元的美国公民，这一群体估计约有2700人。随后，吊销护照范围将扩大至拖欠金额在2500美元至10万美元的美国公民，所涉人数尚无确切统计。（央视新闻）

【我国首台双核原子量子计算机研制成功 在股票投资组合优化、蛋白质设计、新药研发等方向有广阔应用前景】财联社5月8日电，由中国科学院牵头，联合武汉大学、华中科技大学和武汉量子技术研究院等团队联合研发的国内首台双核原子量子计算机日前正式发布，这台量子计算机首次将量子处理器从“单核”升级为“双核”，为我国高端算力自主化提供了关键支撑。这台叫作“汉原2号”的超级计算机内部没有传统的芯片，它通过一套精密光学系统控制着200个原子进行运算。技术人员介绍，这200个原子就相当于200个超级大脑，分成两个方阵形成双核架构，一个用来计算、另一个实时纠错，让效率翻了一倍。据了解，量子计算能大幅提升密码破解等特定领域的计算效率，在股票的投资组合优化、蛋白质设计、新药研发等方向有广阔应用前景。目前，“汉原1号”已经在中国移动云平台投入运营，并将出口到海外，“汉原2号”也在加快商用进程。 (央视新闻)

Luis Alvarez/DigitalVision via Getty Images The Market Ignores GCT's Success... For Now Since I upgraded my investment rating on GigaCloud Technology Inc. ( GCT ) stock back in July 2024 , the price has managed to rise by ~35%, similar to the S&P 500's move-up for the same period. However, since 2024, GigaCloud has significantly scaled its GMV and overall operations, and the recently released Q1 2026 earnings results once again proved my core bullish stance on the stock. The market seems to be ignoring GCT's success right now because the stock hasn't moved much on its strong double-beating and generally positive guidance. I think such deviations shouldn't last long. Assuming that GCT keeps executing on its plan as it did throughout the past few years, and with the buybacks in place, I believe the market is likely to adjust the stock price to the upside eventually. Let's take a look at the latest earnings . GigaCloud showed total revenues of $359.5 million (+32.2% YoY) with gross profit expanding by 34.7% YoY (~$85.8 million) and adjusted diluted EPS coming in at $1.24 (+49.4% YoY). On the top and bottom lines, the firm has beaten the consensus estimates by ~5% and 27.35%, respectively, according to Seeking Alpha . Seeking Alpha, GCT's Q1 press release Despite the fears that some analysts had initially regarding the GMV dynamics (Gross Merchandise Value in this case), GCT's core GigaCloud Marketplace saw its GMV hit $1.66 billion on a TTM basis - compared to last year, it's a solid 17.5% increase. Importantly, what kept the gross margins in great shape is the rise of the 3P seller GMV that added 23.7% YoY and reached ~$908.6 million. 3Ps are now over 54% of the whole GMV pie, and it has room for further revenue share mix expansion, in my view, because the number of active 3P sellers went up by 19.3% to 1,377 (it's still a low base to work with), and active buyers were up 25.2% to 12,473 ( both sides are expanding, which is great to see). The key unit economics metric...

核心要点 特朗普称，欧盟须在 7 月 4 日前批准美欧贸易协议。 特朗普警告，若欧盟未履约，关祱 “将立即大幅上调”。 欧盟委员会主席冯德莱恩表示，关祱削减谈判正取得 “良好进展”。 2026 年 5 月 4 日，美国总统特朗普在华盛顿白宫东厅举行的中小企业峰会期间发表讲话。 美国总统唐纳德・特朗普表示，已给欧盟设定 7 月 4 日为期限，要求其批准与美国的贸易协议；若这个 27 国集团未能履约，他威胁将关祱提高至 “更高” 水平。 周四晚些时候，特朗普在 “真相社交” 平台发文称，他与欧盟委员会主席乌尔苏拉・冯德莱恩进行了 “富有成效的通话”，并在通话中双方一致同意，伊朗永远不得拥有核武器。 此次通话前不久，特朗普刚宣布拟将欧盟输美汽车和卡车关祱提高至 25%，并指责欧盟未遵守去年 7 月在他苏格兰高尔夫球场达成的协议条款。 特朗普称：“我一直在耐心等待欧盟履行我们在苏格兰特恩贝里达成的历史性贸易协议 —— 这是有史以来规模最大的贸易协议！欧盟曾承诺履约，并按协议将关祱降至零！” 他补充道：“我同意宽限至我国 250 周年国庆日（7 月 4 日）；若届时未履约，很遗憾，欧盟输美产品关祱将立即大幅上调。” 目前尚不清楚特朗普所称的加征关祱是否涵盖所有欧盟输美商品，还是仅针对汽车。但他最新表态似乎缓和了上周仅针对欧盟汽车和卡车加征关祱的威胁。 欧盟委员会主席冯德莱恩在社交媒体 X 上表示，欧盟 “完全致力于” 落实该贸易协议，并补充称 “7 月初前降低关祱的目标正取得良好进展”。 谈判仍存差距 特朗普对欧盟发出关祱威胁数小时后，美国一家贸易法院裁定，特朗普近期加征的 10% 全球关祱不符合美国法律。 今年早些时候，美国最高法院已裁定，特朗普无权征收范围更广的两位数关祱；此次贸易法院裁决，是对特朗普政府贸易政策的又一打击。 2025 年 7 月 27 日，美国总统特朗普与欧盟委员会主席冯德莱恩在苏格兰特恩贝里宣布达成美欧贸易协议后握手。 欧洲议会首席贸易谈判代表贝恩德・朗格周四表示，欧盟立法机构与成员国政府为敲定协议、取消对美关祱已取得 “良好进展”，但 “仍有差距需要弥合”。 双方贸易谈判代表定于 5 月 10 日举行下一轮会谈。 本周早些时候，美国贸易代表詹姆斯・格里尔在接受彭博社采访时表示，他预计欧盟将履行去年 7 月达成的贸易协议承诺。 责任编辑：郭明煜

巴克萊銀行維持小米集團(ADR)(XIACY.US)買入評級，維持目標價30美元 富途牛牛

巴克萊銀行維持小米集團(ADR)(XIACY.US)買入評級，維持目標價30美元 富途牛牛

由中国科学院牵头，联合武汉大学、华中科技大学和武汉量子技术研究院等团队联合研发的国内首台双核原子量子计算机日前正式发布，这台量子计算机首次将量子处理器从“单核”升级为“双核”，为我国高端算力自主化提供了关键支撑。这台叫作“汉原2号”的超级计算机内部没有传统的芯片，它通过一套精密光学系统控制着200个原子进行运算。技术人员介绍，这200个原子就相当于200个超级大脑，分成两个方阵形成双核架构，一个用来计算、另一个实时纠错，让效率翻了一倍。“汉原2号”相比两年前发布的“汉原1号”操作原子的准确率从90%提高到99%，原子稳定存活时间从20秒延长到100秒以上。与此同时，它的整机功耗不到7千瓦，无需低温制冷系统，在普通实验室环境就能稳定运行。研发团队还构建了从芯片生产到封装测试、从激光调制到相位噪声抑制的全链条研发体系，实现核心部件的国产化。据了解，量子计算能大幅提升密码破解等特定领域的计算效率，在股票的投资组合优化、蛋白质设计、新药研发等方向有广阔应用前景。目前，“汉原1号”已经在中国移动云平台投入运营，并将出口到海外，“汉原2号”也在加快商用进程。(央视新闻)

财联社5月8日讯（编辑 刘蕊） 尽管在经历了伊朗战争爆发初期的飙升后，国际油价近期明显企稳回落，但美国油企巨头壳牌首席执行官瓦尔·萨万（Wael Sawan）仍然警告称，市场不应对 石油 市场前景过于乐观。 美东时间周四，瓦尔·萨万警告称， 目前全球原油供应短缺已经接近10亿桶 ，而伊朗战争每持续一天，这一缺口就会更扩大一些。 他表示：“目前，由于原油被封锁运输或停止生产，我们已经陷入近10亿桶原油短缺的困境，而且这一缺口每天都在扩大。石油市场要恢复供需平衡，将是一个漫长的过程。” 萨万指出，在石油缺口冲击下，全球航空业的需求已削减约5%。 “但这是人们唯一能采取的措施，要么动用库存，要么改变燃料，要么实质上削减需求。我们看到世界许多地区仍具有韧性，但问题在于未来几个月情况会如何发展？” 除了壳牌，其他石油企业的高管也指出，霍尔木兹海峡的关闭已经导致了原油供应极度短缺——按照国际能源署的说法，这已经是有史以来最大的供应中断事件。 哈里伯顿公司（Halliburton）首席执行官杰弗里·米勒（Jeffrey Miller）上个月曾表示：“全球累计石油供应缺口已达数亿桶，且正朝着10亿桶的方向发展…石油和 天然气 的产量恢复以及库存补充将不会是一个迅速或简单的过程。” 康菲石油公司（ConocoPhillips）首席财务官安德鲁·奥布莱恩（ Andrew O'Brien）则表示，尽管各国正在实施限产或减少需求的政策，但供应损失的影响很快就会变得更加明显。 他警告称：“随着时间进入6月和7月，一些依赖石油进口的国家可能会开始面临严重的供应短缺问题。” 埃克森美孚公司首席执行官达伦·伍兹（Darren Woods）警告称，即便霍尔木兹海峡重新开放，也需要一段时间来处理积压的业务并将石油产品推向市场。 他预测：“从海峡重新开放到市场恢复正常供应，大概会有1到2个月的时间差。”

Earnings Call Insights: Kinetik (KNTK) Q1 2026 Management View "Kinetik delivered record earnings in the first quarter," said CEO Jamie Welch, adding, "We've seen strong conversion of opportunities into new and amended agreements across both Texas and New Mexico" (President, CEO & Director Jamie Welch). Welch highlighted a major New Mexico amendment: "a significant contract amendment with a large existing customer in New Mexico that expands the original dedicated acreage by roughly 25%... and extends terms through 2039," and he said "approximately 75% of legacy Durango gas processing volumes have now been amended over the past four months" (President, CEO & Director Welch). On potential New Mexico processing growth, Welch said the sour conversion progress and contract actions have created "strong commercial momentum in support of potentially advancing a processing capacity expansion at Kings Landing complex" (President, CEO & Director Welch). Welch emphasized capital-efficient power demand linkages: "We signed a zero CapEx interconnection with Pecos Power" and framed it as "a fee-based template for monetizing our existing footprint as Permian power generation demand grows" (President, CEO & Director Welch). CFO Trevor Howard reported record profitability and cash generation: "First quarter adjusted EBITDA of $251 million was a quarterly record," and "Distributable cash flow totaled $181 million and free cash flow was $101 million" (Senior VP & CFO Trevor Howard). Howard tied the quarter to basis-driven marketing strength: "Spread-based marketing gains have more than offset approximately 170 million cubic feet per day of Waha price-related production shut-ins in the quarter" (Senior VP & CFO Howard). Outlook Howard reaffirmed full-year guidance: "We are affirming our 2026 adjusted EBITDA guidance range of $950 million to $1.05 billion" (Senior VP & CFO Howard). Howard disclosed a key assumption change behind the reaffirmation: "We now forecast low to mid-single-digit...