Alibaba press release ( BABA ): Q3 Non-GAAP EPADS of $1.01 misses by $0.58 . Revenue of $40.73B (+6.1% Y/Y) misses by $1.42B . Revenue was RMB284,843 million (US$40,732 million), an increase of 2% year-over-year. Diluted earnings per ADS was RMB5.93 (US$0.85). Diluted earnings per share was RMB0.74 (US$0.11 or HK$0.82). Non-GAAP diluted earnings per ADS was RMB7.09 (US$1.01), a decrease of 67% year-over-year. Non-GAAP diluted earnings per share was RMB0.89 (US$0.13 or HK$0.98), a decrease of 67% year-over-year. Income from operations was RMB10,645 million (US$1,522 million), a decrease of 74% year-over-year, primarily due to the decrease in adjusted EBITA. Adjusted EBITA, a non-GAAP measurement, decreased 57% year-over-year to RMB23,397 million (US$3,346 million), primarily attributable to the investment in quick commerce, user experiences, and technology, partly offset by the improved operating results supported by continued growth in Cloud business, as well as enhanced operating efficiencies across various businesses. More on Alibaba Alibaba Q3 Preview: The Only Number That Matters Alibaba Earnings Preview: Strong AI Adoption, Weak Profit Translation Alibaba Is On Sale Again As AI Fears Spread Alibaba Q3 earnings on deck: Focus on profit, capex Alibaba raises AI computing prices up to 34%; stock gains

格隆汇3月19日丨Global Risk Management首席分析师阿恩·洛曼·拉斯穆森表示：“从理论上讲，来自卡塔尔的液化天然气可能会中断数月之久，在最糟糕的情况下甚至会持续数年。对于天然气市场而言，这场危机不会因为战争结束以及霍尔木兹海峡重新开放而就此终结。”

格隆汇3月19日丨一架无人机坠落在沙特阿拉伯西海岸的一座炼油厂，此前一天伊朗将该设施列为目标，显示其正加大对该地区能源资产的攻击力度。这座Samref炼油厂由沙特阿美和埃克森美孚合资拥有，位于红海沿岸的延布。沙特国防部表示，一枚飞向该地区港口（目前是沙特石油出口的重要通道）的弹道导弹已被拦截。伊朗此前曾表示，在其本国天然气田遭到以色列和美国打击之后，Samref炼油厂是其将攻击的能源设施之一。卡塔尔的全球最大液化天然气出口设施以及阿联酋的气田已经遭到袭击。延布对沙特以及石油市场同样至关重要。在霍尔木兹海峡受阻、通过该航线的运输受到限制之后，沙特已增加从该港口的石油出口。

CK Hutchison Holdings , one of the flagship companies owned by Hong Kong billionaire Li Ka-shing’s family, reported a 7 per cent increase in underlying profit for 2025, as the company predicted its businesses would face “new and perhaps unforeseen challenges” in 2026. The ports-to-telecoms conglomerate said on Thursday that underlying profit reached HK$22.3 billion (US$2.85 ‌billion) last year, compared with HK$20.8 billion a year earlier. Including a one-time ⁠accounting loss, net profit fell ⁠31 per cent from a year earlier to HK$11.84 ‌billion, it said. Advertisement The one-time non-cash loss of HK$10.92 billion was related to the UK telecoms merger of 3UK with Vodafone. CK Hutchison received about £1.3 billion (US$1.73 billion) in net cash from the merger, according to its filing with the Hong Kong stock exchange. “Geopolitical pressure has led to a meaningful legal conflict with the Panamanian state relating to the group’s container terminal operations there,” said chairman Victor Li Tzar-kuoi. “Notwithstanding this backdrop, the group’s highly diversified business and geographic spread largely mitigates the impact of adverse developments in any particular sector or country. Strong cash generation in the year has placed the group in a solid financial position.” Advertisement He added that the group would continue to “look for opportunities to enhance value for our shareholders through major transaction activity”.

消息人士称，沙特延布港口停止石油装运。(财联社) 免责声明： 风险提示：本文内容仅供参考，不代表同花顺观点。同花顺各类信息服务基于人工智能算法，如有出入请以证监会指定上市公司信息披露平台为准。如有投资者据此操作，风险自担，同花顺对此不承担任何责任。

Tens of thousands of offenders will be released from prisons in England and Wales wearing tags that track their location in real time as part of the biggest expansion of electronic tagging in British history, ministers have announced. The prisons minister, James Timpson, said a new pilot scheme would track domestic abusers and stalkers, alerting authorities if they approached their victims, while other offenders will wear geolocation tags that will enable probation officers to track their live location. Under the plans, the vast majority of ex-offenders leaving prison will be tagged under a “presumption … as part of intensive supervision with the Probation Service”, but probation officers will have fewer meetings with “low-risk” prisoners to focus on the most prolific and high-risk offenders such as terrorists, murderers and prolific sex offenders. “This is the biggest expansion of tagging in British history and means the most dangerous offenders will now be watched more closely than ever before,” said Lord Timpson. The government has taken the dramatic move after an overcrowding crisis in prisons, which last year saw tens of thousands of prisoners released early under an emergency government scheme. Launched in September 2024 – after prisons almost reached full capacity – the scheme saw about 40,000 prisoners released over a 12-month period, according to Ministry of Justice figures, released after a freedom of information request by the BBC. Last year an official watchdog warned that the probation service had “too few staff” with “too little experience and training”, which left members of the public at risk. The public accounts committee found that longstanding staff shortages had left probation staff dealing with “excessive and unmanageable workloads”, with officers working at 126% of capacity for several years in some areas. The prison service only met 26% of its targets for timeliness of appointments and delivery of services in 2024-25, down from 50% in 2022, ac...

Source: Bloomberg, 6:37

Source: Bloomberg, 6:37

巴克萊銀行維持騰訊控股(ADR)(TCEHY.US)買入評級，維持目標價102美元 富途牛牛

Investment Research Partners LLC purchased a new stake in Qualcomm Incorporated (NASDAQ:QCOM - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,766 shares of the wireless technology company's stock, valued at approximately $1,209,000. Get Qualcomm alerts: Sign Up Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its position in Qualcomm by 72.2% during the third quarter. Harbor Capital Advisors Inc. now owns 155 shares of the wireless technology company's stock worth $26,000 after buying an additional 65 shares in the last quarter. Cloud Capital Management LLC purchased a new stake in Qualcomm in the 3rd quarter valued at $27,000. Winnow Wealth LLC acquired a new stake in shares of Qualcomm in the 2nd quarter worth $32,000. Lavaca Capital LLC acquired a new stake in shares of Qualcomm in the 2nd quarter worth $32,000. Finally, Guerra Advisors Inc purchased a new position in shares of Qualcomm during the 3rd quarter worth $39,000. Institutional investors and hedge funds own 74.35% of the company's stock. Qualcomm Stock Performance NASDAQ QCOM opened at $130.47 on Thursday. The stock has a fifty day simple moving average of $146.59 and a 200-day simple moving average of $161.74. The company has a current ratio of 2.51, a quick ratio of 1.83 and a debt-to-equity ratio of 0.64. The stock has a market cap of $139.21 billion, a PE ratio of 26.96 and a beta of 1.25. Qualcomm Incorporated has a twelve month low of $120.80 and a twelve month high of $205.95. Qualcomm (NASDAQ:QCOM - Get Free Report) last issued its quarterly earnings data on Wednesday, February 4th. The wireless technology company reported $3.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.38 by $0.12. Qualcomm had a net margin of 11.96% and a return on equity of 44....

Investment Research Partners LLC Makes New Investment in Qualcomm Incorporated $QCOM MarketBeat

Investment Research Partners LLC bought a new stake in Tesla, Inc. (NASDAQ:TSLA - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,752 shares of the electric vehicle producer's stock, valued at approximately $809,000. Other hedge funds have also recently modified their holdings of the company. Chapman Financial Group LLC acquired a new position in Tesla in the second quarter valued at $26,000. Manning & Napier Advisors LLC acquired a new stake in shares of Tesla during the third quarter worth about $29,000. CoreFirst Bank & Trust acquired a new stake in shares of Tesla during the second quarter worth about $30,000. Turning Point Benefit Group Inc. purchased a new stake in shares of Tesla in the 3rd quarter valued at about $30,000. Finally, Texas Capital Bancshares Inc TX acquired a new stake in shares of Tesla in the 3rd quarter valued at about $31,000. 66.20% of the stock is owned by hedge funds and other institutional investors. Get Tesla alerts: Sign Up Tesla Trading Down 1.6% Shares of TSLA stock opened at $392.78 on Thursday. The company has a market capitalization of $1.47 trillion, a P/E ratio of 363.69, a price-to-earnings-growth ratio of 11.81 and a beta of 1.89. The company has a current ratio of 2.16, a quick ratio of 1.77 and a debt-to-equity ratio of 0.08. The business's 50 day moving average is $417.41 and its two-hundred day moving average is $426.59. Tesla, Inc. has a twelve month low of $214.25 and a twelve month high of $498.83. Tesla (NASDAQ:TSLA - Get Free Report) last released its quarterly earnings results on Wednesday, January 28th. The electric vehicle producer reported $0.50 EPS for the quarter, topping the consensus estimate of $0.45 by $0.05. Tesla had a return on equity of 4.86% and a net margin of 4.00%.The business had revenue of $24.90 billion during the quarter, compared to analysts' expectations of $24.75 billion. D...

Investment Research Partners LLC purchased a new position in shares of Taiwan Semiconductor Manufacturing Company Ltd. (NYSE:TSM - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,571 shares of the semiconductor company's stock, valued at approximately $1,089,000. Get TSM alerts: Sign Up A number of other hedge funds have also recently made changes to their positions in TSM. Heartwood Wealth Advisors LLC purchased a new position in Taiwan Semiconductor Manufacturing in the 3rd quarter worth $32,000. Cedar Wealth Management LLC boosted its position in Taiwan Semiconductor Manufacturing by 91.4% during the third quarter. Cedar Wealth Management LLC now owns 134 shares of the semiconductor company's stock valued at $37,000 after buying an additional 64 shares during the period. Fairman Group LLC boosted its position in Taiwan Semiconductor Manufacturing by 171.2% during the third quarter. Fairman Group LLC now owns 141 shares of the semiconductor company's stock valued at $39,000 after buying an additional 89 shares during the period. Resources Management Corp CT ADV bought a new position in shares of Taiwan Semiconductor Manufacturing during the second quarter valued at about $32,000. Finally, Delta Asset Management LLC TN increased its holdings in shares of Taiwan Semiconductor Manufacturing by 50.0% in the third quarter. Delta Asset Management LLC TN now owns 150 shares of the semiconductor company's stock worth $42,000 after buying an additional 50 shares during the period. 16.51% of the stock is currently owned by institutional investors. Analysts Set New Price Targets TSM has been the subject of a number of recent research reports. Wall Street Zen lowered Taiwan Semiconductor Manufacturing from a "buy" rating to a "hold" rating in a research note on Saturday, March 14th. Dbs Bank raised Taiwan Semiconductor Manufacturing to a "moderate buy" rating in a researc...

Investment Research Partners LLC acquired a new stake in Intel Corporation (NASDAQ:INTC - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 15,409 shares of the chip maker's stock, valued at approximately $517,000. Several other large investors have also modified their holdings of INTC. Insight Advisors LLC PA increased its holdings in shares of Intel by 0.5% in the 3rd quarter. Insight Advisors LLC PA now owns 58,521 shares of the chip maker's stock valued at $1,963,000 after acquiring an additional 275 shares during the period. Lakeshore Capital Group Inc. boosted its stake in Intel by 1.4% during the 3rd quarter. Lakeshore Capital Group Inc. now owns 20,906 shares of the chip maker's stock worth $701,000 after purchasing an additional 279 shares during the period. Integrated Advisors Network LLC boosted its stake in Intel by 3.1% during the 3rd quarter. Integrated Advisors Network LLC now owns 9,750 shares of the chip maker's stock worth $327,000 after purchasing an additional 290 shares during the period. WealthPlan Investment Management LLC grew its position in Intel by 0.4% during the 3rd quarter. WealthPlan Investment Management LLC now owns 71,772 shares of the chip maker's stock worth $2,408,000 after purchasing an additional 295 shares during the last quarter. Finally, Investors Research Corp grew its position in Intel by 0.7% during the 3rd quarter. Investors Research Corp now owns 40,597 shares of the chip maker's stock worth $1,362,000 after purchasing an additional 300 shares during the last quarter. 64.53% of the stock is owned by institutional investors and hedge funds. Get Intel alerts: Sign Up Analyst Ratings Changes A number of brokerages have recently commented on INTC. Morgan Stanley upped their target price on shares of Intel from $38.00 to $41.00 and gave the company an "equal weight" rating in a report on Friday, January 23rd. TD Cowen rai...

苹果 CEO 蒂姆・库克。 作者：艾伦・蒂利 苹果 或许该更新其应用商店的规则了。正如我们今日报道中所说，开发 氛围编程（vibe coding） 类应用的开发者正面临审核延迟。这类 AI 工具能让无编程经验的用户轻松创建应用。审核流程放缓对苹果而言并非好事，该公司过去已因对应用管控过严饱受批评。 应用商店审核延迟恰逢氛围编程应用对苹果构成潜在威胁，这或许并非巧合。毕竟，正如我们在今日报道中提到，如果开发者能通过氛围编程创建无需上架应用商店的网页应用，苹果将失去对应用的掌控权。不过苹果的举动可能并非表面看上去那么恶意。据一家审核更新被延迟的氛围编程应用开发商 Bitrig 称，苹果的规则只是为旧时代制定，亟需修订。 “我认为氛围编程非常有吸引力，用户也确实有需求，所以我希望苹果能注意到这一点及其价值，并着手修订指南。”Bitrig 首席执行官凯尔・麦康伯表示。他的初创公司推出的氛围编程应用允许用户通过文字提示快速搭建移动应用。 该应用于 8 月在应用商店上架。但到 11 月，苹果开始拒绝 Bitrig 的应用更新，称其违反了长期存在的指南条款 2.5.2 。该条款禁止开发者在不经过应用商店审核的情况下，通过更新代码从根本上改变应用功能。 苹果应用审核机制因其不透明的内部流程长期激怒开发者。不过近期这一问题引发了更多关注。周二，埃隆・马斯克在其社交平台 X 上发文称：“iOS 应用审核延迟已经离谱到极点。” 曾在苹果软件工程部门任职 14 年的麦康伯相对更理解苹果。他表示，鉴于用户对应用商店的高度信任，苹果出于保护用户的目的保持谨慎是合理的。但他指出，苹果目前依赖的是多年前制定的指南。 目前，Bitrig 已将资源从 iPhone 应用转向 Mac 应用，后者可以持续更新。但应用商店里的 iPhone 版本自 11 月以来再无更新，意味着其目前运行的是过时的 AI 模型。 IPO 热潮 Swarmer 虽非家喻户晓，却在华尔街大获成功。这家军用无人机软件开发商周一晚以 5 美元价格 IPO 发行股票。经过两天交易，该股周三收盘价达到 55 美元，涨幅惊人。或许是 Swarmer 的投行将发行价定得过低？ 股价暴涨可能源于两大因素： 首先，国防类股票当前极为火爆。涵盖该板块多只股票的 Spade 国防指数年内已上涨 11%，而标普 500 指数下跌 3.2%。 其次，S...

南向资金今日净买入261.90亿港元 盈富基金获净买入居前 2026-03-19 17:31:34 来源： 同花顺7x24快讯 分享 文章提及标的 中芯国际 -- 小米集团-W -- 国企指数 -- 南向资金今日净买入261.90亿港元。盈富基金、恒生中国企业分别获净买入约146.51亿港元、53.23亿港元；小米集团-W（HK1810）、中芯国际（HK0981）分别遭净卖出8.72亿港元、2.18亿港元。

tum3123/iStock via Getty Images By Hyun Kang Emerging markets have been on a tear recently. The S&P 500 is roughly flat year-to-date, while the MSCI EAFE Index has returned 10.09%. The MSCI Emerging Markets Index has returned 14.83%, significantly outpacing its developed market counterparts. Figure 1: Year-to-Date Performance Source: WisdomTree, FactSet. Returns from 12/31/2025 to 2/27/2026. You cannot invest directly in an index. Past performance is not indicative of future results. One-year returns show an even bigger disparity, with the MSCI Emerging Markets Index, the MSCI EAFE Index, and the S&P 500 returning 49.96%, 34.63%, and 16.99%, respectively. Figure 2: 1-Year Cumulative Performance Source: WisdomTree, FactSet. Returns from 2/28/2025 to 2/27/2026. You cannot invest directly in an index. Past performance is not indicative of future results. A smart way to access emerging markets is to have some exposure to the small-minus-big factor, which reflects the tendency of small companies to deliver outsized returns relative to larger companies over longer periods. This is especially true in the more volatile emerging markets. Figure 3: Size Factor Returns Source: WisdomTree, Kenneth R. French Data Library. Returns from 6/30/1989 to 12/31/2025. Past performance is not indicative of future results. However, with that opportunity can come unique governance risks, particularly principal-agent risk. The principal-agent problem occurs when the people running a company (management, the “agents”) have incentives that don’t perfectly align with the people providing the capital (shareholders, the “principals”). In emerging markets, this misalignment can be more pronounced in state-owned enterprises (SOEs), where management may be accountable not only to outside shareholders but also to government priorities. That can mean objectives like maintaining employment, supporting strategic industries, or meeting political goals may take precedence over profitability, capital disci...

港股通｜騰訊控股（00700）為港股通（滬）10大活躍成交股榜首 香港經濟日報HKET

网传参赛名单换了几波，才终于有了点《乘风2026》（以下简称《浪姐7》）要来的实感了。 嘉宾名单从张曼玉传到周慧敏再传到刘若英，还未正式官宣就已经在网上掀起了颇高的讨论度，不过相比于网传的嘉宾阵容，《浪姐7》最大的惊喜或许是节目形态的创新， 这 一季将采用全直播模式。 据湖南卫视广告部公开消息， 浪姐IP将首次开启全舞台直播模式 ，从初舞台亮相到五场公演再至总决赛全线直播，包括姐姐们的训练日常、幕后花絮等真人秀部分也都会以直播的形式呈现， 《浪姐7》将变成一台大型直播真人秀 。 芒果用直播的形式盘活了歌手IP，又将如法炮制对浪姐IP注入新的生命力，那么这一次芒果又能否如愿呢？ 浪姐直播有看头吗？ 浪姐IP开启全舞台直播倒也不算突然，其实两年前的《浪姐5》就已经采用过直播模式。 《歌手2024》首次开启直播竞演模式实现现象级爆红后，同时期播出的《浪姐5》就已经跃跃欲试，临时进行了突击加场直播赛，让姐姐们尝试全开麦live直播，摇人投票排在前十的姐姐获得live直播抢先权。 但由于这次直播活动是节目播出期间的突击加场，不属于正片内容，而是在正片播出当晚进行六个小时三场直播接力，因而市场关注度并不高，甚至一度因为前期的“摇人值”引发了数据注水争议，未能给节目带来太大的加成。 《浪姐7》则不再是额外加场的live直播赛，而是全季全程直播模式， 将往季的公演日打造成七场“直播大事件” ，一场直播大事件包括一周生活札记、两场舞台比拼直播、48小时彩排训练精彩瞬间以及一场直播制作会议，并且将会联动媒介与观众进行实时互动，正片直播内容比重大大提升，对于浪姐IP而言无疑是一次前所未有的创新。 客观来说，直播模式所拥有的即时性、真实感以及强互动的特点，确实能够掀起较高的市场关注度，创新型节目模式一经曝光便吸引了大量观众参与讨论，观众期待值有了显著提升。 就舞台本身而言，直播比拼机制强化了竞演的紧张感和刺激感，不仅能展现姐姐们的真正实力与表演，还能够实时参与节目互动与评选，观众不用再像往年被早早泄露的淘汰名单剧透而影响观看体验感。 另一方面直播机制也会利好真人秀内容的呈现，《浪姐》系列节目的最大看点就在于女性社交，姐姐们在高压的竞争环境中所表现出的互助、争执、交流都会掀起全网热议，而直播能够真实地展现女嘉宾的相处细节，摒弃了精心剪辑刻意引导营造的氛围，让女性交流回归本真，显然也更具探讨价...

格隆汇3月19日丨阿里巴巴公告，第三财季(截至2025年12月底止季度)营收2848.4亿元，同比增长2%，预估2897.9亿元；调整后净利润167.1亿元人民币，预估316亿元。阿里巴巴第三财季调整后息税折旧及摊销前利润340.6亿元，预估396.2亿元。

格隆汇3月19日丨*ST长药(300391.SZ)公告称，公司股票于2026年3月20日复牌并进入退市整理期，退市整理期为15个交易日，预计最后交易日期为2026年4月10日。退市整理期届满的次一交易日，公司股票将被摘牌并终止上市。退市整理期间，公司不筹划或实施重大资产重组。公司证券简称变更为“长药退”，首个交易日无涨跌幅限制，此后每日涨跌幅限制为20%。股票将在深交所风险警示板交易，并将于终止上市后转入全国股转公司代管的退市板块挂牌转让。

阿里巴巴第三财季营收2,848.4亿元人民币，同比增长1.7%，市场预估2,897.9亿元人民币。 第三财季调整后净利润167.1亿元人民币，同比下降67%，市场预估316亿元人民币。 第三财季云智能集团收入432.8亿元人民币，同比增长36%，市场预估423.6亿元人民币。 第三财季调整后每ADS收益7.09元人民币，上年同期21.39元人民币，市场预估12.34元人民币。 阿里巴巴美股盘前下跌3.7%，第三季度营收未达预期。 风险提示及免责条款 市场有风险，投资需谨慎。本文不构成个人投资建议，也未考虑到个别用户特殊的投资目标、财务状况或需要。用户应考虑本文中的任何意见、观点或结论是否符合其特定状况。据此投资，责任自负。

在3月19日举行的商务部例行新闻发布会上，新闻发言人表示，3月26日至29日，世贸组织第14届部长级会议将在喀麦隆首都雅温得举行，商务部部长王文涛将率中方代表团出席。(央视新闻) 免责声明： 风险提示：本文内容仅供参考，不代表同花顺观点。同花顺各类信息服务基于人工智能算法，如有出入请以证监会指定上市公司信息披露平台为准。如有投资者据此操作，风险自担，同花顺对此不承担任何责任。

财联社3月19日讯（记者 沈娇娇） 近期，内蒙古西贝餐饮集团有限公司（简称“西贝餐饮”）创始人贾国龙创办的全新餐厅品牌“天边砂锅焖面”已在北京朝阳区开业，引发广泛关注。“‌贾国龙新开焖面店高峰期需排队50桌‌ ”、‌“贾国龙创办新品牌承接部分西贝员工”两个词条今日均登上微博热搜，成为社交平台的热议话题。 财联社记者查询大众点评发现，“天边砂锅焖面”的人均价格约为61元，主打菜是各类焖面，包括羊肉辣皮子焖面、豆角排骨焖面、砂锅甘蓝土豆焖面等。财联社记者以消费者身份致电门店，该店店长表示，“所有焖面都是现做的，没有预制菜。” 据媒体报道，西贝要关一部分店，贾国龙希望有个新品牌能够承接一部分门店和员工。“西贝这个品牌还是要做，未来关一部分、转（新品牌）一部分、保留一部分核心门店。”贾国龙如是说。 西贝餐饮方面告诉财联社记者，“天边砂锅焖面”目前仅有一家店，未来是否开设更多门店暂未明确讨论过。 3月10日，天眼查信息显示，“内蒙古西贝餐饮集团有限公司”注册资本发生变更，新进投资者“林来嵘”，持股比例为2.1626%。贾国龙、北京西贝企业管理有限公司等股东持股比例下降，目前贾国龙持股约为25.6%。 公开资料显示，林来嵘是内蒙古众兴集团创始人、A股上市公司 大中矿业 （001203.SZ）的实际控制人，其创办的众兴集团主营铁、煤炭等矿产品开采加工，目前业务还在向锂矿等新能源矿产领域延伸。3月5日，胡润研究院发布《2026胡润全球富豪榜》，林来嵘、安素梅夫妇以280亿人民币排名第1166位。从地域上来看，林来嵘与贾国龙同为内蒙古老乡。 财联社记者以投资者身份致电大中矿业证券部，其工作人员表示，林来嵘是基于自身的财务规划进行投资，以自然人身份注资西贝餐饮，与大中矿业公司并无关系。

neiu20001/iStock Editorial via Getty Images Investment Thesis After the final annual report was released, I revised my view of Kroger ( KR ) updated the financial model towards greater conservatism and slower revenue growth. My forecast is based on the stabilization of consumer demand and saturation of the market, which will limit revenue growth in the next few years. Based on the new assumptions, I don't see any significant underestimation in the company's shares. The fair value of the shares, in my estimation, is $76, with only a small 3.7% upside to the current market price ($73 at the time of writing). I am downgrading the rating from Buy to Hold, as I do not see any obvious drivers for stock price growth on the horizon of 2026. Only with price corrections of more than 10% do stocks become interesting to buy. Ongoing Business Optimization Under New CEO I recommend reading my first two articles about Kroger, among other things. There, in addition to financial analysis of the reports, I also deeply analyzed the company's business model , described its development strategy, the strengths and weaknesses of this strategy, and the key growth drivers and risks inherent in the company. This will help you gain a deeper understanding of the business and better understand the reasons for the company's current financial situation. Before I move on to financial analysis, I would like to mention some important events that have taken place over the past six months. In general, over the past year, management has been actively rebuilding the business, abandoning less promising assets with low margins and reducing unnecessary costs. But besides that, there have been changes in Kroger's corporate structure. In early February, the board of directors appointed Greg Foran , the former CEO of Walmart's U.S. operations, as the new CEO. Victor Smith, who has been with the company since 1983, was also promoted to senior vice president of retail divisions. Additionally, new presidents wer...

Harvard University freshman point guard Malik Mack was sitting in his American Capitalism class as a case study in the big business of college basketball was silently unfolding on his phone. Mack set a Harvard freshman scoring record during the 2023-24 season and won Ivy League Rookie of the Year , and he entered the transfer portal that spring in hopes of landing at a school with a big-time basketball program. Soon, Mack was deluged with texts and calls from coaches eager to recruit him. Though Harvard leads in numerous academic fields, the prestigious US university isn’t known for producing championship-caliber basketball teams or a slew of top NBA draft picks. Mack, seeking a path to the pros, landed at Georgetown University , a team that has been to multiple Final Fours and generated NBA legends like Patrick Ewing, Allen Iverson and Alonzo Mourning. Moving to a more dominant basketball conference “was something I needed to do to further prove my game,’’ Mack said in an interview ahead of last week’s Big East Tournament, where Georgetown lost in the semifinals to the University of Connecticut. Key to his decision, he said, was “the level of basketball that was being played.’’ There was a time when transferring out of the Ivy League to pursue sporting fame would have been rare, even unthinkable. However, the transfer portal has made it easier and more common for athletes to move from one school to another; Indiana University constructed its first national championship football team this year with transfers. And Mack is part of a small but growing class of athletes who have used standout early careers in the Ivy League as a springboard to playing for schools that are frequent contenders for national championships or offer more visibility. Danny Wolf led the Yale Bulldogs to the Ivy League championship in 2024 as a sophomore before transferring to the University of Michigan, a Big Ten powerhouse. The Brooklyn Nets then drafted the 6-foot-11 forward last year with th...

Net cash provided by operating activities was RMB36,032 million (US$5,152 million), a decrease of 49% compared to RMB70,915 million in the same quarter of 2024. Free cash flow , a non-GAAP measurement of liquidity, was RMB11,346 million (US$1,622 million), a decrease of 71% compared to RMB39,020 million in the same quarter of 2024. The decrease in free cash flow was mainly attributed to the investment in quick commerce. As of December 31, 2025, our cash and other liquid investments (1) were RMB560,175 million (US$80,104 million). Diluted earnings per ADS was RMB5.93 (US$0.85). Diluted earnings per share was RMB0.74 (US$0.11 or HK$0.82). Non-GAAP diluted earnings per ADS was RMB7.09 (US$1.01), a decrease of 67% year-over-year. Non-GAAP diluted earnings per share was RMB0.89 (US$0.13 or HK$0.98), a decrease of 67% year-over-year. Net income attributable to ordinary shareholders was RMB16,322 million (US$2,334 million). Net income was RMB15,631 million (US$2,235 million), a decrease of 66% year-over-year, primarily attributable to the decrease in income from operations. Non-GAAP net income in the quarter ended December 31, 2025 was RMB16,710 million (US$2,389 million), a decrease of 67% compared to RMB51,066 million in the same quarter of 2024. Income from operations was RMB10,645 million (US$1,522 million), a decrease of 74% year-over-year, primarily due to the decrease in adjusted EBITA. Adjusted EBITA , a non-GAAP measurement, decreased 57% year-over-year to RMB23,397 million (US$3,346 million), primarily attributable to the investment in quick commerce, user experiences, and technology, partly offset by the improved operating results supported by continued growth in Cloud business, as well as enhanced operating efficiencies across various businesses. Revenue was RMB284,843 million (US$40,732 million), an increase of 2% year-over-year. Excluding revenue from the disposed businesses of Sun Art and Intime, revenue on a like-for-like basis would have grown by 9% year-o...

葵涌一個地盤下午約4時半有天秤倒塌並折斷，其中一段倒塌於山坡上，據報有客貨車被碎石擊中。至少一人死亡。