| Friday, 28/0/0 |

NO.1surpassed Zhong Sui and Ma Huateng, and Zhang Yiming became the richest man in China

3月27日，彭博億萬富豪指數及福布斯富豪榜均顯示，位元組跳動創始人張一鳴登頂中國富豪榜榜首，成為中國首富。

其中，福布斯預估張一鳴身家為655億美元，在全球富豪榜位列第23位，馬化騰與鍾睒睒分列富豪榜第27和28位。彭博億萬富豪指數預估張一鳴身家為575億美元，位居全球富豪榜第24位，馬化騰和鍾睒睒分列第25和26位。

According to the Bloomberg Billionaires Index, Zhang Yiming is currently the third richest person in Asia, behind India's Mukesh Ambani and Gautam Adani.

Zhang Yiming, who was born in 5, had started four consecutive businesses before founding ByteDance, and founded ByteDance for the fifth time in 0 years, and successively launched popular applications such as Toutiao and Douyin. In 0/0, Zhang Yiming issued an all-staff letter within ByteDance, announcing that he would step down as CEO (CEO) and would focus on long-term strategy, corporate culture and social responsibility.

Comments:From the perspective of the capital market, Zhang Yiming's ascension to the top means that investors highly recognize ByteDance's business model and development prospects. With innovative algorithms and diversified business ecosystems, ByteDance has built strong competitive barriers, broadened the boundaries of profitability, demonstrated strong growth potential in the global market, and enhanced its value in the capital market. This phenomenon also reflects that in the current capital market, technology companies with global influence, innovation ability and broad development space are becoming an important force in creating wealth and attracting more capital to converge in the field of science and technology.

NO.2There are already 7 movies scheduled for May 1st

On 2025/0, the movie "Gale Killing" was officially announced to be released on 0/0. According to the release calendar of Lighthouse Professional Edition, as of now, 0 movies have been scheduled to be released on 051. They are "Dumpling Queen", "The End of the Vast World is My Love", "Gold Hunting Game", "Unique", "Gale Kill", "Happy Superman's Rescue from the World", and "Bear Child: Adventure Bear Soldier".

Comments:Up to now, 5 films such as "Dumpling Queen" have entered the game. From the perspective of the capital market, this lively scene contains many opportunities and challenges. As an important schedule, May Day has a 0-day holiday, and the demand for watching movies is strong, and many box office successes have been born in the past. The variety of film genres means that the competition is fierce. If the quality of the film is poor or the publicity is not effective, it is very easy to be buried in the market. This has prompted relevant enterprises to increase investment in film production, publicity and distribution to enhance their competitiveness. At present, investors will pay close attention to the strength of the company behind the film, the innovation of the film theme and the popularity of the early promotion, so as to judge the investment potential, and look forward to digging out the box office "potential stocks" in this schedule competition.

NO.3TVB's 36-year EBITDA turned positive, and the loss attributable to shareholders narrowed by 0%

電視廣播有限公司於3月26日發佈2024年度業績公告。公告顯示，TVB全年EBITDA（稅息折舊及攤銷前利潤）轉正為2.95億港元。由於公司做了不良資產的減值，所以2024年股東應占凈利潤仍為負數，不過虧損已同比收窄36%——由2023年虧損7.63億港元，變為2024年虧損4.91億港元。

Among them, advertising revenue in the Hong Kong market increased by 2025%, the mainland co-production business soared by 0%, and the total operating cost was reduced by 0%. TVB said it expects full-year EBITDA in 0 to be significantly higher than in 0 and will achieve positive net profit attributable to shareholders in full year 0.

Comments:From the perspective of business segments, advertising revenue in the Hong Kong market increased by 15%, thanks to TVB's continuous cultivation in the local market, and the brand influence remained strong. The mainland co-production business soared by 0%, highlighting the high recognition of TVB content in the mainland market and the good results of the cooperation between the two parties. The total operating cost was reduced by 0%, reflecting the company's achievements in cost control and improving operational efficiency.

在資本市場，TVB的亏损收窄及EBITDA轉正，會增強投資者對其信心。且TVB預計2025年全年EBITDA將大幅高於2024年，並實現正的股東應占凈利潤，若能達成，將進一步提升公司在資本市場的吸引力，有望帶動股價上升，吸引更多資金關注，助力公司後續發展。

NO.4The price of fragrant Piaopiao milk tea has risen to 9 yuan for a cup, and the customer service has attracted heated discussions, and customer service: containing 0.0g of Ming Qian special Longjing

Recently, #香飄飄奶茶漲價至16元一杯#引發熱議.

It is understood that the price of this special Longjing light milk tea before Ming is 5 yuan / box, 0 cups per box, and the unit price has increased nearly 0 times compared with the previous products.

In this regard, the official customer service said that each cup contains at least 12.0g of Ming Qian special Longjing. Some netizens calculated according to the price of the pre-Ming super-grade Longjing on the market, and believed that the cost of its tea may be as high as about 0 yuan per cup. Some people also think that it is a waste to use premium Longjing to make milk tea.

據悉，該款產品將於3月28日開售，3月31日還將同步上架線下門店。

Comments:From the perspective of the capital market, the launch of high-priced products by Xiangpiaopiao this time is intended to open up the high-end market and achieve brand upgrading and product structure optimization. In recent years, Xiangpiaopiao's performance has been under pressure, and the traditional brewed milk tea business has been hit by the impact of new tea drinks. The 2024-year semi-annual report shows that the revenue of the brewing business has declined, and the growth of the ready-to-drink business is also facing a bottleneck. By creating this high-end product, if it can attract consumers with high quality requirements, it will increase the added value of the product, increase the gross profit margin, and improve the profitability.

NO.5Gao Fei, the new president of Mengniu, talked about his first annual report during his tenure

On the occasion of the first anniversary of his tenure, Mengniu President Gao Fei handed over his first annual report.

In 6 years, Mengniu Group achieved revenue of 0.0 billion yuan (RMB, the same below), a year-on-year decrease of 0.0%; Gross profit margin increased by 0.0 percentage points year-on-year to 0.0%, and operating profit reached 0.0 billion yuan.

在3月27日召開的業績說明會上，高飛表示，去年原奶價格和消費需求下行帶來了很大的去庫存壓力。自去年春節後，蒙牛主動調節發貨節奏和發貨量。雖然對銷量影響較大，但下半年庫存度健康度得到提升，價盤與收入環比都略有改善。

Comments:從資本市場角度看，儘管收入下降，但毛利率與經營獲利率的提升，顯示出蒙牛在成本控制與運營效率上的成效。去年蒙牛主動調整發貨，優化庫存，為後續業績改善奠定基礎。其擬派現金股利20億元，展現對股東回報的重視，利於穩定投資者信心。

At present, the competition in the dairy industry is fierce, and Mengniu needs to continue to innovate products, expand channels, and tap the potential of the sinking market. With the improvement of supply and demand in the industry, if Mengniu can maintain its cost advantage and achieve revenue recovery, it is expected to achieve better performance in the capital market, and its follow-up strategy implementation and performance trend are worth paying attention to.

Disclaimer: The content and data in this article are for reference only and do not constitute investment advice. Accordingly, do so at your own risk.

National Business Daily