从2016年上汽与奥迪迈出合资第一步开始，南北奥迪的平衡问题就一直是奥迪在华最大的内部症结所在。所以，与10年前南北奥迪上演的“撕扯大戏”不同，这次“分家”将是一场和平过渡，南北双方都清楚，这只是对市场格局的一种追认，也是结束内耗的明智选择。 虽然奥迪方面尚未给出任何表态，但在过去一周，“南北奥迪分治”已被当成必然会落地的战略，在汽车业内广泛传播。该战略的核心是：奥迪在华所有燃油车产品和四环品牌的新能源产品将归由一汽奥迪掌管，上汽奥迪将专注于新成立的本土新能源品牌——字母品牌AUDI的发展。众多据称从奥迪体系“内部”获得的消息称，双方的资源调整已经开始，正式官宣将很快到来。 截至经济观察报记者发稿时，奥迪方面对此消息仍未给出官方回复，奥迪中国相关内部人士表示无法回应此事。但最新消息显示，奥迪·上汽合作项目CEO宋斐明（FerminS oneira）将于7月1日起转任兰博基尼首席技术官(CTO)，接替者来自现任奥迪股份公司监事会成员Fred Schulze。这被业界解读为奥迪调整在华布局已定下了时间节点。 事实上，回看今年以来奥迪方面的数次表态，不难发现其中存在着一些“南北分治”的蛛丝马迹。业界共识是：无论从奥迪在中国的布局、当下的市场处境，还是从下一步的发展需求来看，“南北分治”都已是大势所趋。一汽奥迪和上汽奥迪在业务线上的清楚切割，既是保证奥迪接下来的电动化战略顺利实施的前提，也是理顺长达10年的双合资对立关系的有效途径。 这则消息中唯一不太准确的是对南北奥迪资源分配的界定，与“油电分离”相比，“品牌切分”的定义更为准确：四环品牌归属一汽奥迪，既有燃油车，也有奥迪全球化的高端新能源车；上汽奥迪则只负责AUDI品牌产品，只聚焦新能源市场。反映在资产调整上，最大的变化就是上汽奥迪旗下的燃油车资产和业务将并入一汽奥迪。 对于这一调整思路，目前业界给出了“零差评”。因为从2016年上汽与奥迪迈出合资第一步开始，南北奥迪的平衡问题就一直是奥迪在华最大的内部症结所在。所以，与10年前南北奥迪上演的“撕扯大戏”不同，这次“分家”将是一场和平过渡，南北双方都清楚，这只是对市场格局的一种追认，也是结束内耗的明智选择。 在实现品牌治理清晰区隔后，南北奥迪将终结同品竞争关系，也有望实现从资源争夺到真正油电协同的彻底转型。同时，上汽奥迪的新能源“专属身份”也是大众集团在华转型的关键落子。...

格隆汇6月1日｜中共成都市委、成都市人民政府发布《关于加快建设全国先进制造业基地的意见》，意见提出，创新资源要素配置。建立保持制造业合理比重投入机制。加强财政金融支持，市县两级支持制造业发展财政资金稳中有升。加强工业用地保障，工业净用地占城市建设用地比例不低于23%，工业用地出让面积占年度经营性国有建设用地出让总面积比例不低于30%，创新供地方式，盘活低效用地，推进工业上楼，提高土地利用效益。实施产业人才专项，加强高层次人才引进；健全校院地企人才“双向奔赴”机制，培育高水平复合型人才队伍。加快全国一体化算力网络成渝国家枢纽节点和天府数据中心集群建设，增强智能算力、高质量数据集供给能力。

_ Myanmar leader Min Aung Hlaing’s first trip to India since being sworn in as president signals New Delhi’s recognition of the strongman’s political status as it seeks to counter mounting Chinese influence, according to analysts. The five-day visit, which began on Saturday at the personal invitation of Prime Minister Narendra Modi, is aimed at strengthening ties with one of Myanmar’s key regional partners. Despite Western sanctions imposed after the February 2021 coup, India has maintained...

标普全球周一发布调查数据显示，受伊朗冲突引发能源价格暴涨、物流受阻影响，法国 5 月制造业活动自去年 11 月以来 首次出现收缩 。 法国 5 月制造业采购经理人指数（PMI）终值录得 49.7，低于 4 月的 52.8，但高于 4 月制造业 PMI 初值 48.9。 PMI 指数以 50 为荣枯分界线：数值低于 50，代表行业活动收缩；高于 50 则意味着行业扩张。 此次 5 月制造业 PMI 跌至 49.7，创下去年 11 月以来新低，同时也是该指数自去年 11 月后首度跌破荣枯线。 标普全球市场情报首席经济学家乔・海耶斯表示：“中东局势动荡推高能源价格，供应链至今仍在适应这一冲击。” 他补充道：“相较于 4 月，更多法国制造企业遭遇交货延迟、原材料涨价问题。未来数月，这类压力或将逐步传导至整个经济体，推高商品价格并引发普遍的供应难题。” 责任编辑：郭明煜

Teenage sensation Vaibhav Sooryavanshi wins a car for his performances in the Indian Premier League - but the 15-year-old will have to wait three years to drive it.

Traditional defense stocks aren't the only ones to consider as we move into the Iran war's aftermath.

President Donald Trump promised to eliminate taxes on Social Security. And although he did not change the tax rules directly related to benefits, he did introduce a tax deduction that means many retirees don't pay tax on their retirement checks. The president also has not made any direct moves to cut Social Security, which was another of his campaign promises. However, he has made his mark on Social Security in important ways that could have a lasting impact on the program. Here are three ways that the Trump administration has begun reshaping Social Security since taking office. Image source: Getty Images. Continue reading

Key PointsReplacing bombs and missiles launched during the Iran war could cost $25 billion.

Netanyahu orders deeper Israeli incursion into Lebanon to hit Hezbollah Reuters

长春高新公告，子公司金赛药业收到美国食品药品监督管理局关于同意GenSci136开展临床试验的批准文件。注射用GenSci136是金赛药业自主研发的B细胞成熟抗原（BCMA）三聚体融合蛋白，BAFF/APRIL双靶点拮抗剂，拟用于治疗重症肌无力（MG）。MG是获得性神经肌肉接头传递障碍的自身免疫性疾病，可累及全身骨骼肌，当眼外肌受累时，临床表现为对称或非对称性上睑下垂和（或）复视，是MG最常见的首发症状。

长春高新公告，子公司金赛药业收到美国食品药品监督管理局（FDA）关于同意GenSci145片开展临床试验的批准文件。GenSci145片是金赛药业开发的一款新型突变选择性PI3Kα抑制剂，适应症为携带PIK3CA突变的局部晚期或转移性实体瘤。此次获批是GenSci145片在美国获批临床的首个适应症。金赛药业将按照FDA相关要求和美国法律法规，有序开展后续临床试验工作，并积极推动其他相关适应症的注册与临床活动。

头部城市人口格局正加快洗牌。 近日，万亿城市2025年人口数据陆续出炉，包括重庆、北京、天津、南通、烟台等多个城市常住人口增量为负。 从目前已公布数据看，南通是万亿城市中人口减少最多的一个，也是长三角唯一人口负增长的万亿城市。 事实上，作为江苏经济第四城，南通户籍人口负增长趋势已持续多年，近年常住人口保持微增，主要依靠人口机械增长维系。 眼下，南通常住人口十余年来首度负增长，某种程度上意味着，其人口净流入已不足以补位人口自然减少与外流的双重缺口。 更重要的是，放眼长三角，上海大都市圈正以前所未有的速度破壁协同。区位重塑的历史性机遇背后，亦潜藏“失血”加速的危机。 南通市政协此前公布的一份专题会发言材料直指，“南通在活力人口比例、研发投入占比、高新技术企业数量以及每万人拥有发明专利数等指标方面都低于大都市圈的平均水平，与南通占大都市圈8.6%的经济总量份额并不匹配……” 已然喊出迈向“下一个万亿”的南通，拿什么在这个强手林立的“世界级”大都市圈中站稳脚跟？ 危机 南通市统计局公布的2025年统计公报显示，全年实现地区生产总值12801.5亿元，比上年增长5.3%。 不同于往年，这份统计公报没有公布常住人口总量、增量及增速相关数据。仅在“综合”部分透露：按常住人口计算，人均地区生产总值16.6万元，增长5.5%。 若按“人均GDP=GDP总量÷年平均常住人口（年初常住人口与年末常住人口的平均值）”推算，2025年南通年平均人口约为771.17万人。再根据其年初（2024年末）常住人口775万人反推，可计算得出南通2025年末常住人口为767.34万人左右。 这一人口总量，相比其上一年减少了超过7万人，在已公布数据的万亿城市中减少最多。 就在前不久，江苏公布2025年常住人口为8318万人，比上年减少8万人。这是全国经济第二大省江苏自1978年以来的首次人口负增长，成为继山东、河南、四川之后又一个迎来人口拐点的经济大省。 相较之下，南通去年人口减少总量几乎与全省相当，形势不容乐观。而同期，除南通以外的4个江苏万亿城市——苏州、南京、无锡、常州，去年依然保持人口正增长，增量分别为6.07万人、6.15万人、3.24万人、2.94万人。 值得注意的是，这还是南通自2010年来首次出现常住人口负增长。 当地统计年鉴数据显示，南通户籍人口早在2015年开始持续负增长，从766.7...

Prediction: This Will Be Palantir's Stock Price in a Year The Motley Fool

Investors panicked when the U.S. attacked Iran in late February. The S&P 500 (SNPINDEX: ^GSPC) fell nearly 8% over the following month as missiles and drones disrupted shipping traffic through the Strait of Hormuz, causing the largest oil supply disruption in history. However, investors' anxiety eased when President Trump struck a more diplomatic tone in late March, and the ceasefire announced in early April cemented the rebound. Over the eight-week period that ended May 22, the S&P 500 advanced 17.3%, the second-best eight-week rally in history. The stock market maintained its momentum last week. The S&P 500 has now climbed 19% since March 27 and closed higher in nine straight weeks, its longest win streak since 2023. And history says the index is likely to maintain its upward trajectory during the next year. Continue reading

美團(03690)2026年Q1業績：加速推進AI落地物理世界 核心本地商業經營虧損收窄至20億元 富途牛牛

理想汽車5月交付3.3萬臺新車，同比下滑18% 富途牛牛

Henrik Sorensen/DigitalVision via Getty Images Thesis We were quite excited when the Brookmont Catastrophic Bond ETF ( ILS ) came out in April 2025, because the catastrophe bond market had been closed for retail investors since its inception. While institutional investors could always access it via dedicated mutual funds or hedge funds, retail investors never had an accessible instrument to take a position in it. We are always happy when we see institutional strategies and asset classes packaged for retail-friendly vehicles. As the name suggests, ILS is an exchange traded fund, with the manager surmounting issues around cat bond liquidity via holding a high cash balance in the fund (roughly 7% cash balance currently). This simply means that in the daily creation and retirement of units, the fund does not need to buy and sell significant amounts of actual ILS bonds but can use that cash buffer to a large extent. Not a bad way to overcome what many had called a massive flaw in coming up with an ILS fund. In today's article we are going to revisit ILS after a year of existence, and highlight what we like about the fund and what we do not like about the fund. Furthermore we are going to tell investors why we are downgrading this name to 'Hold' from our prior 'Buy' rating. Current composition Investors can find the latest composition on the fund's website , and it currently looks like this: Holdings (Fund Website) There are over 102 individual bonds currently in the fund holdings, and the perils are diversified: Perils (Fund Website) Remember that for a fund like ILS, it is important to ensure diversification in the portfolio. If the entire fund was in Florida Windstorm risk (FL WS), then a big enough hurricane could wipe out the entire fund. As an investor in this name you want to see diversification in the risks for the fund. The fund manager is not really very forthcoming regarding parsing out the holdings details, but it does provide the following details: WA portfol...

Tim Robberts/DigitalVision via Getty Images Investment thesis Over the past two months, the price of Harmonic Inc. ( HLIT ) shares has surged, as illustrated in this one-year price chart: Data by YCharts Behind these surges is the increasing likelihood its Video business will be sold, and it will become a pure-play broadband company. At the same time, though, there is concern about the share price and target prices. As a result, I maintain my Hold rating. About Harmonic The company described itself in the 10-K for 2025 as a "leading global provider of broadband access solutions that enable broadband operators to more efficiently and effectively deploy high-speed internet for data, voice and video services for their customers." In previous years, though, it also included a video business, with which it was not satisfied. In October 2023, it began a strategic review, one that came to a temporary halt in April 2024. Then, in December 2025, it announced it had reached a deal with MediaKind to sell the Video business for $145 million in cash. And, as explained below, it completed most of the remaining steps in March 2026; it expects to finalize the deal in this second quarter of 2026. Harmonic management expects the divestiture to streamline its operations and to position it as a more profitable and faster growing business. The profitability potential comes out of broadband's higher margins. Broadband is software intensive, unlike the Video business that is hardware oriented. Hardware, as in the Video segment, is capital intensive, has low margins, and requires substantial manufacturing and inventory management. It may have high startup costs (R&D, for example) but has low variable costs, produces recurring sales at low cost, and is scalable. As a broadband company, Harmonic can scale up at a relatively low cost. Pre-Q1 earnings expectations The pre-earnings price growth began on March 31, when the stock registered a 1.47% increase. That is unremarkable by itself; howeve...

汉马科技公告，2026年5月货车（含非完整车辆）产量1300辆，同比增长23.81%；销量1260辆，同比增长17.76%。本年累计产量6573辆，同比增长32.52%；累计销量6670辆，同比增长31.69%。其中，新能源中重卡产量1139辆，同比增长24.34%；销量1095辆，同比增长21.40%。底盘总成产量100辆，销量100辆；醇氢动力系统产量20辆，同比增长-92.78%，销量52辆，同比增长-83.28%。

白皮书还表示，检察机关对犯罪情节较轻、社会危害性较小或初犯、偶犯的涉罪未成年人，最大限度教育挽救、防止再犯 【财新网】 “低龄不是免罪金牌”。2025年，对已满12周岁不满14周岁未成年人实施的故意杀人、故意伤害致人死亡等严重暴力犯罪，最高检察院依法核准追诉24人。6月1日，最高检察院发布的《未成年人检察工作白皮书（2025）》披露了前述情况。 检察机关负责对刑事案件进行审查，批准或者决定是否逮捕犯罪嫌疑人，决定是否提起公诉。白皮书显示，2025年，检察机关受理审查起诉未成年人犯罪人数较多的罪名依次是盗窃罪、聚众斗殴罪、强奸罪、抢劫罪、寻衅滋事罪、诈骗罪，这六类犯罪人数合计占受理审查起诉未成年人犯罪总数的76.7%。

理想汽車-W：自願公告2026年5月交付更新資料- Futubull 富途牛牛

Arm Holdings美股盘前涨超10%，现报389.0美元。

中共成都市委、成都市人民政府发布《关于加快建设全国先进制造业基地的意见》，意见提出，巩固提升特色优势产业。实施提能升级工程，做强做优做大电子信息、装备制造万亿级产业和医药健康、绿色食品、新型材料、先进能源等千亿级产业，加快打造具有全球影响力和行业带动力的软件名城、新型显示之都、工业无人机之都、美酒之都，增强产业主支撑，夯实工业基本盘。

Nvidia (NVDA) Partners with TSMC for Advanced Semiconductor Manu GuruFocus

格隆汇6月1日｜中国平安公告称，公司2025年度利润分配方案经2026年5月20日股东会审议通过，以总股本18,107,641,995股为基数，每股派发现金红利1.75元（含税），共计派发现金红利31.69亿元。A股股权登记日为2026年6月9日，除权（息）日和现金红利发放日为6月10日。不同类型股东扣税政策不同。

格隆汇6月1日｜韩国最大即时通讯服务提供商Kakao的工会呼吁下周举行四小时罢工，进一步升级与公司之间的争端。此前，关于薪酬和工作保障的谈判在上个月宣告破裂。据该劳工组织发布的声明，Kakao公司的工会成员以及其四家子公司员工计划于6月10日举行罢工。工会官员表示，此次行动旨在发出初步警告，而非全面罢工。他们称这是“部分”罢工，同时承认大多数韩国居民日常依赖的KakaoTalk应用程序可能出现中断的担忧。该工会表示，如果未来谈判未能取得有意义的进展，可能会扩大行动范围。这场争端反映了韩国科技行业当前正展开的一场更广泛的争论。员工们要求从人工智能热潮带来的收益中获得更大的份额，而这一热潮主要惠及了硬件企业。三星电子上个月同意将10.5%的营业利润以股票形式作为奖金发放，另外还发放1.5%的现金。

三星电气公告，公司签订马来西亚TNB电力局智能电表项目合同，合同金额约合1.58亿人民币。