Andrzej Rostek/iStock via Getty Images Net Lease Office Properties ( NLOP ) is a special situation REIT in the middle of a portfolio liquidation. NLOP was spun off from W. P. Carey ( WPC ) in 2023 and has been steadily selling assets ever since, shrinking its portfolio from 59 to 18. This is the capital being returned to shareholders through the ~50%+ forward yield. In order to understand if NLOP is still a buy, we need to ask, what are the remaining 18 properties worth? Based on the current annualized base rent of ~$26M and reasonable market cap rates, these 18 properties appear to support a liquidation value in the $20-22/sh range, well above the current ~$13 price. This gap between the potential asset sale value and the market’s frankly pessimistic outlook creates a cautious buying opportunity. An Overview of NLOP NLOP's stated business plan is "realizing value for our shareholders primarily through strategic asset management and disposition of our property portfolio." At its origin, it had 59 single-tenant office properties generating around $145M in annualized rent. Currently, only 18 properties are left, which yield ~$26M in rent—implying that the higher-value properties were skimmed off in the earlier transactions. Point to remember for valuation later: these 18 should not fetch the same cap rates as the other 41. Anyway, proceeds from those sales were used to repay $455M of debt, and shareholders were paid multiple large special dividends. This gives us our framing—NLOP is a shrinking asset base being converted into cash, and traditional REIT metrics do not apply here. The only thing that matters is what price they can net for these properties and whether that is more than their current equity value. The Remaining 18 Properties These 18 properties have 79% occupancy (Dec 2025 figure ) with a ~3.0-year weighted average lease term. That means this is not a table portfolio, partially vacant, shorter-duration, relatively speaking, and heavily dependent on indivi...

(RTTNews) - Spanish financial services major Banco Santander S.A. (BNC.L, BSBR, SAN) reported Wednesday higher profit in its first quarter with a sindificant disposal gain and growth in total income. Further, the bank reaffirmed its fiscal 2026 targets.

Borealis Foods ( BRLS ) entered into a $17M refinancing agreement with Oxus Capital, using the proceeds to fully repay its existing Frontwell Capital credit facility and strengthen near-term liquidity. The new secured term loan carries a 12% annual interest rate and matures on April 27, 2031. The proceeds of the term loan were used to repay in full all outstanding obligations under the company’s existing credit agreement with Frontwell. In connection to the refinancing, the company also entered a separate conversion agreement that could see roughly $29M of related-party debt convert into equity if the company fails to raise at least $70M in new equity at $9 per share by July 1, 2026. The credit agreement also requires the company to appoint two designees of Oxus to the Board of Directors by May 11, 2026, replacing two existing directors. The stock price traded about 8% higher on Tuesday during after-hours trade. More on Borealis Foods Financial information for Borealis Foods

Check out the companies making headlines yesterday:

百度美股夜盘跳水，现跌超3%。港股百度集团跌幅扩大至4%。

格隆汇4月29日｜A股市场部分券商拉升，其中，首创证券拉升涨超6%，中国银河、国信证券、华鑫股份、广发证券等跟涨。

Hong Kong authorities have pledged to intervene in landlord-tenant disputes preventing residents from retrieving belongings from the fire-ravaged Wang Fuk Court, as packing efforts enter their 10th day. Deputy Chief Secretary Warner Cheuk Wing-hing said on Wednesday that while the government expected agreement on limited entry quotas, authorities were prepared to make “alternative arrangements” to ensure all residents had a fair chance to retrieve their belongings. “Our stance on this is very...

格隆汇4月29日｜美银证券发表研报指，长城汽车首季收入451亿元，同比增长13%，但环比下降35%；销量同比增长5%，环比下降33%。毛利率同比及环比分别提升0.6及1.2个百分点至18.5%，主要受惠于海外市场及高端车型销售贡献增加。盈利方面，首季净利润同比及环比分别下跌46%及23%至9.45亿元，主要因是去年同期录得10亿元汇兑收益，而本季则录得5000万元汇兑损失。扣除非经常性损益后的净利润为4.82亿元，同比及环比分别下跌67%及17%。 该行将2026至2028年的盈利预测分别下调4%、4%及3%，将长城汽车H股目标价由14.6港元下调至14.3港元，维持“中性”评级，认为其强劲的产品线及稳健的增长已反映在估值中；A股目标价则由18.4元下调至18.1元，考虑到其估值偏高，维持“跑输大市”评级。

LaDiR: Latent Diffusion Enhances LLMs for Text Reasoning Apple Machine Learning Research

【有線新聞】彭博社報道，北韓領袖金正恩日前的講話證實了北韓軍人在俄烏戰場上為免被俘虜，會不惜自我引爆犧牲自己。 金正恩日前在平壤與俄羅斯官員出席援俄陣亡軍人的紀念館完工典禮，朝中社之後發布他的講話，他提到軍人選擇自爆身亡時不會計較犧牲的代價，又形容他們為了捍衛偉大名譽毫不猶豫地選擇自爆、自盡。外媒指平壤一直灌輸被俘虜等同叛國的觀念，軍人未能脫困時據報會自絕，金正恩的講話變相證實此說法。一名被烏克蘭俘虜的北韓軍人曾透露同袍相繼捨命自爆，後悔自己未能效法。

Source: Bloomberg, 9:33

格隆汇4月29日｜台湾加权指数收盘下跌218.23点，跌幅0.55%，报39303.5点。

【有線新聞】美國名嘴Jimmy Kimmel在他的節目嘲諷第一夫人梅拉尼婭是「準寡婦」引起的風波未息，美國聯邦通訊委員會下令製作節目的美國廣播公司提早為旗下8間電視台遞交續牌申請。 聯邦通訊委員會指，正調查這8間電視台有否違反聯邦通訊法及禁止歧視的法例。美國廣播公司的母公司迪士尼表示，旗下電視台一直守法，有信心能順利續牌，並準備好透過法律途徑證明合規。8間被要求提早續牌的電視台包括在紐約及洛杉磯的頻道，牌照原本2028至2031年才到期。

财联社4月29日讯（记者 沈娇娇 陆婷婷 实习记者 林嘉豪） 泡泡玛特（09992.HK）近日正式发布其小家电产品。官方渠道尚未发售，但闲鱼、千岛等交易平台已经出现代抢链接，且溢价水平不等。 泡泡玛特的小家电产品从冷藏箱切入。此次新品The Monsters生活家系列冷藏箱Home（以下简称红色款）和House of the Monsters（以下简称白色款）将于4月30日晚22时开售，两款产品售价均为5999元。红色款只在京东泡泡玛特家电自营旗舰店售卖，而白色款则会在京东、天猫、抖音、小红书、微信抽盒机、视频号微信小店同步售卖。京东平台显示，截至发稿前，两款产品预约量均已超过2万。 图片来源：京东泡泡玛特家电自营旗舰店 与泡泡玛特以往的产品定位保持一致，该冷藏箱也具有所谓“收藏”属性。 两款冷藏箱均全球限量999台 。除了主机、配件和产品说明书之外，商品还包含收藏卡，每个产品有专属的ID限定编号。国信证券研报认为，IP小家电的推出有望为公司旗下头部IP开辟高频日用场景，实现IP价值从“收藏展示”到“日常陪伴”的延伸，也能拓宽泡泡玛特品牌的受众。 记者注意到，商品链接标注了只换不修。针对换货如何处理以及编码是否发生变化，京东泡泡玛特家电自营旗舰店客服人员表示，如果产生问题需要换货，需要寄回产品等待做好后重新发出。编码有两种情况，一种是出随机编码，另一种是保留原编码。若要求保留原编码，等待周期可能要60天。 生产方面，目前公司没有披露供应商。关于网传的小家电制造商新宝股份（002705.SZ）是否为泡泡玛特小家电代工，该公司证券部工作人员向财联社记者表示：“所有新产品未上市前，客户都会有保密要求。”上述人士进一步指出，公司与所有客户合作的信息均以产品推出市场为准，公司目前业务以出口为主，出口销售占比75%左右，国内销售占比25%左右且以自主品牌销售为主， 国内ODM/OEM业务客户众多，但单个客户的销售占比较小 。财报显示，新宝股份今年一季度净利润同比下降约68%，另据Choice金融终端， 新宝股份今年一季度的销售毛利率约为18.41%，较去年同期略有下降 。 目前，泡泡玛特官方渠道尚未发售，但闲鱼、千岛等交易平台上已经出现了商品代抢链接。价格上看，原价5999元一台的冷藏箱代抢溢价在百元到万元不等，高者甚至达到9.23万元。代抢链接普遍在详情中标注售出后不退不换。...

第九届数字中国建设峰会期间，央国企数智创新联合实验室正式揭牌。该实验室由国务院国资委信息中心、北京市政务和数据管理局共同指导，中国电信、北京数据集团合作运营。中国电信还与中国石化、中国海油、中国航信等30余家央企，发布国资央企领域可信数据空间试点成果与示范应用场景，覆盖交通运输、文化旅游、装备制造等13个重点行业。此外，中国电信政企行业具身智能应用联盟成立。（科创板日报）

4月28日，上海华瑞顺安企业管理合伙企业（有限合伙）、上海恒明荟实业发展有限公司向市场监管部门申办股权信托财产登记并通过国家企业信用信息公示系统（上海地方频道）对外公示信托相关信息，成为全市首批完成股权信托财产登记的企业。（人民财讯）

格隆汇4月29日｜吉利汽车(0175.HK)午后拉升，涨超5%，报22.94港元。消息面上，公司午间公布业绩显示，2026年一季度总收入达838亿元，同比增长15%，创同期新高；核心归母净利润45.6亿元，同比劲增31%，核心利润增速高于收入增速；当期毛利率17.5%，同比提升11%，整体盈利能力持续向好。截至2026年一季度末，公司总现金水平达602亿元，现金储备充裕，公司经营稳健。

为长三角乃至全国ESG实践提供极具引领价值的标杆范式。 2026年4月28日，首届上海优秀ESG案例榜单在上海现代服务业联合会与第一财经联合主办的2026企业可持续发展大会上正式发布，22项优质实践案例入选。此次入选的案例，呼应首届企业可持续发展大会上发布的《上海市ESG最佳实践案例评价规范》，生动诠释企业在环境治理、社会责任与治理创新中的深度融合，为长三角乃至全国ESG实践提供极具引领价值的标杆范式。上海现代服务业联合会会长孙建平、上海现代服务业联合会副会长简大年为入选案例代表颁奖。

泡泡玛特欲借家电业务拓展IP形态，短期不会显著影响业绩 泡泡玛特此次发售两款LABUBU联名的121L冰箱，分别名为Home和House of the Monsters，每款全球限量发售999台，每台均拥有限定编号。图：视觉中国 【财新网】 泡泡玛特首款家电产品LABUBU联名小冰箱即将开售，市场传闻有“黄牛”在二手交易平台上挂出最高超过9万元的价格，是官方发售价5999元/台的15倍。 不过财新查询多个二手平台，并未发现报价高达9万元的LABUBU冰箱，二手平台闲鱼上的卖家普遍报价在6999—9999元区间，亦有人报价18800元。一名卖家表示，开售后，可以通过“科技手段”百分百抢到该款冰箱，亦有多名卖家表示未抢到会全额退款。“网上传出的9万元报价太过夸张，都可以买车了。”一名二手卖家说。

Deutsche Bank AG saw its fixed income and currencies trading business start “constructively” in the second quarter after some jitters in March, Chief Financial Officer Raja Akram said in an interview. At the end of the first quarter, the lender’s rates trading division got “a little bit under pressure” as banks were caught off guard by the US war on Iran, Akram said on Bloomberg TV. “Credit and FX continue to outperform our expectations.” Overall, revenue from trading was roughly in line with the first quarter of last year, despite headwinds from the stronger euro. The war in Iran blindsided some rivals as well, with Goldman Sachs Group Inc. ’s vast rates-trading business taking a hit as interest rates surged in the wake of the US and Israeli attacks. Read More: Goldman Rates Trading Desk Loss Behind Bank’s Earnings Setback Broadly, however, Wall Street banks benefited in the first quarter from the ensuing volatility in commodities and equities, businesses that Deutsche Bank exited years ago. Akram said the lender has no intention to move back into commodities trading. “We don’t do strategy by envy,” he said. The duration of Iran war is key for its impact on inflation in Germany and Europe, he said. A severe scenario would be for prolonged conflict and an energy shock, but so far Deutsche Bank’s “base case would be that the conflict is over, hopefully, in the second quarter.” Akram reiterated that Deutsche Bank is confident about its €26 billion private credit exposure, an asset class whose rapid growth in recent years has raised some concerns in the broader market. “Private credit continues to be a non-story for us,” Akram said. The book was “very well protected” and “we haven’t lost any money in this portfolio ever.”

4月29日，宇树科技宣布，品牌全国首家直营店正式启幕，店铺选址位于北京王府井银泰in88 1层，五一假期起面向公众开放。(北京商报)

Classic Football Shirts have been in business for 20 years, selling over one million shirts (so far) and keeping the most iconic match-worn pieces in their temperature-controlled vault. Michael Butler travelled to Manchester to meet the CFS founders Continue reading...

Hans Patuwo, CEO of GoTo Group, discusses the Indonesian ride-hailing and food delivery business outlook and growth strategy after it reported its first-ever net income, a major milestone in its turnaround effort. He speaks with Haidi Stroud Watts on "Bloomberg: The Asia Trade". (Source: Bloomberg)

Roh Yong-seok, Vice Minister of South Korea's SME and Startup Ministry, discusses the country's plans and strategy to support and grow domestic startups and enterprises, from injecting more funding for support and working with regional economies to bolster cooperation. He speaks with Shery Ahn on "Bloomberg: The Asia Trade". (Source: Bloomberg)

騰訊控股(00700)出現大手賣出1.14萬股，成交價$476.8，涉資543.552萬 AASTOCKS.com

阿迪达斯第一季度营收65.9亿欧元，同比增长7.1%，预估63亿欧元；第一季度净利润4.82亿欧元，预估4.44亿欧元；仍然预测全年营业利润大约23亿欧元，预估24.2亿欧元。