sgusers5的部落格

　　10日至11日，迷你倉本報記者在開羅期間，近距離接觸了開羅的生活，表面平靜之下暗藏著不安、焦慮、驚恐。　　在付出巨大代價後，無序盼穩，久亂思治，已經成為多數埃及人的共識。　　政局持續動蕩　　7月3日，埃及發生政權更迭，此後兩個月內陷入嚴重動蕩。有統計顯示，自穆爾西下台以來埃及全國發生了數千次抗議示威。社會經濟秩序混亂，各種暴力活動和恐怖襲擊頻繁發生。尤其是8月中旬，針對穆爾西支持者的“清場”行動，造成了數千人死傷。　　旅遊遭到重創　　最近兩年來，埃及局勢動蕩，旅遊業遭重創，國內外遊客數量驟減，許多旅館倒閉。埃及官方的數據顯示，截至今年8月底，到埃及的遊客數量約100萬人，比去年同期減少80%。　　9月11日，埃及旅遊部推自存倉辦公室表示，埃及旅遊部正在採取一系列措施，重整因局勢動蕩而受到嚴重影響的旅遊業，這包括：旅遊部與埃及航空公司合作，為國內外遊客提供打折服務；為遊客定制人均消費不超過144美元的“短期游”，主要吸引對象為贊比亞、津巴布韋等非洲遊客，此外還有吸引來自葡萄牙、巴西、阿根廷和日本等國度假者的措施。　　經濟損失超千億　　埃及經濟學專家稱，7月初至今局勢動蕩帶來的直接和間接經濟損失將超過1200億埃鎊(1埃鎊約合0.88元人民幣)。其中埃及股票和證券交易市場損失230億埃鎊，對穆爾西支持者的清場行動帶來的破壞和修復費用高達25億埃鎊。　　有經濟學家預測稱，埃及經濟面臨崩潰的風險。（李明波、羅宇）標簽：埃及 旅遊部 穆爾西 埃及人 動蕩迷你倉新蒲崗

CALABASAS, Calif.迷你倉, Sept. 12, 2013 /PRNewswire/ -- National Technical Systems, Inc. (NTS), a leading provider of testing and engineering services, today reported its financial results for the second quarter and six months ended July 31, 2013.Revenues for the second quarter of fiscal year 2014 were $46.2 million compared to $47.3 million for the second quarter a year ago. The year-over-year decrease in quarterly revenue was primarily related to decreases in the defense and energy markets, partially offset by an increase in revenue in the aerospace market. Sequentially, revenues were up 2.6 percent from $45.0 million for the first quarter of fiscal year 2014.SG&A expense for the second quarter of fiscal year 2014 was $11.5 million, up 33.1 percent from $8.7 million in the second quarter a year ago and up 14.9 percent from $10.0 million in the first quarter of fiscal year 2014. The sequential and year-over-year increase is mainly due to share-based compensation expense driven by the significant increase in the Company's stock price in this fiscal year, one-time transaction costs relating to the recently announced proposed transaction with an affiliate of Aurora Capital Group and incentive compensation expense. SG&A was also impacted by the $0.6 million in support-related expenses that were previously included in cost of sales.During the quarter, the Company also incurred approximately $1.0 million of restructuring costs, principally driven by the centralization of administrative functions, and $1.2 million of expense relating to the early payment of the $7.0 million Mill Road subordinated note.Net loss attributable to NTS in the second quarter of fiscal year 2014 was $144,000, or $0.01 loss per basic and diluted share, compared to net income attributable to NTS of $1.6 million, or $0.14 per basic share and $0.13 per diluted share, in the second quarter a year ago, and net income attributable to NTS of $1.4 million, or $0.12 per basic and diluted share, in the first quarter of fiscal year 2014. The decrease was primarily due to higher SG&A expense and restructuring and debt-related costs noted above.Adjusted EBITDA was $6.9 million for the second quarter of fiscal year 2014, compared to $7.0 million in the year ago quarter and $6.7 million in the first quarter of fiscal year 2014. The Company calculates Adjusted EBITDA, a non-GAAP financial measure, by taking net income (loss) and adding back the expenses related to interest, taxes, depreciation, amortization, as well as share-based compensation expense, as each of those elements are reported in accordance with GAAP. A reconciliation of the Company's Adjusted EBITDA to net income (loss) is included in the tables below.Weighted average common shares outstanding assuming dilution for the second quarter of fiscal year 2014 was 12,209,000 shares compared to 11,892,000 shares in the second quarter a year ago and 12,094,000 shares in the first quarter of fiscal year 2014.President and CEO William C. McGinnis said, "We have the largest geographic footprint and broadest service offerings in our markets and our relationships with clients remain strong. A modest pullback in the defense and energy sectors pushed our revenues down slightly year-over-year, but our aerospace business continues to expand. We had a number of unusual expenses in the quarter which impacted net income. Overall, we are satisfied with our core operating results, particularly the impact that our investment in the ERP (enterprise resource planning) system and restructuring has had on our ability to improve gross profit."Six-Month ResultsRevenues for the first six months of fiscal year 2014 were $91.2 million compared to $90.8 million for the first six months of the prior year.Gross profit for the first six months of fiscal year 2014 was $28.0 million, up 16.0 percent compared to $24.1 million in the prior year period. The increase in gross profit in the first six months of fiscal year 2014 was primarily due to price increases and project mix, as well as the volume increase from the first quarter of this fiscal year. In addition, approximately $1.3 million of support-related expenses which were included in cost of sales in the second quarter of fiscal 2013 were recorded to SG&A expense in the second quarter of 2014, due to the centralization of administrative functions that began in the first quarter of the current fiscal year. Gross profit percentage was 30.7 percent for the first six months of fiscal year 2014, compared to 26.6 percent for the first six months of fiscal year 2013.SG&A expense for the first six months of fiscal year 2014 was $21.6 million, up 26.3 percent from $17.1 million in the prior year period impacted by the items noted above.Net income attributable to NTS in the first six months of fiscal year 2014 was $1.3 million, or $0.11 per basic and diluted share, compared to net income attributable to NTS of $2.6 million, or $0.23 per basic share and $0.22 per diluted share, in the prior year period.Adjusted EBITDA was $13.6 million for the first six months of fiscal year 2014, compared to $12.5 million in the prior year comparable period.On August 15, 2013, NTS entered into an Agreement and Plan of Merger (the "merger agreement") with an affiliate of Aurora Capital Group, a Los Angeles-based private equity firm. Under the terms of that merger agreement, NTS would be merged into an affiliate of Aurora Capital Group, and as part of the merger NTS shareholders would receive $23.00 per share in cash for each share of NTS common stock outstanding immediately prior to the effective time of the merger. The closing of the merger is subject to the satisfaction of customary closing conditions, including (i) approval of the principal terms of the merger by NTS shareholders, (ii) receipt of applicable antitrust approval or the expiration of applicable waiting periods, (iii) absence of any order or injunction prohibiting the consummation of the merger and (iv) subject to certain exceptions, the accuracy of NTS' representations and warranties and fulfillment of its covenants contained in the merger agreement. Additional information concerning the merger agreement can be found in NTS' Current Report on Form 8-K filed with the Securities and Exchange Commission (SEC) on August 16, 2013.Non-GAAP Financial Measure - Adjusted EBITDAThis news release includes Adjusted EBITDA, which is a non-GAAP financial measure as defined by SEC Regulation G, that management believes is among the more important measures of performance in its industry because it provides insight into operating cash flows independent of a company's capital structure or tax position and is a key factor in determining a company's valuation. Management also believes Adjusted EBITDA provides a meaningful trend of operating performance, as well as a measure of liquidity and the Company's ability to service debt. Adjusted EBITDA should not be construed as a substitute for net income (loss) (as determined in accordance with GAAP) for the purpose of analyzing the Company's operating performance or financial position, as Adjusted EBITDA is not defined by GAAP.NTS defines Adjusted EBITDA as earnings (net income) before interest, taxes, depreciation and amortization, as adjusted to eliminate the effects of share-based compensation and non-cash impairment loss.About National Technical SystemsNational Technical Systems is a leading provider of testing and engineering services to the aerospace, defense, telecommunications, automotive, energy and high technology markets. Through a world-wide network of resources, NTS provides full product life-cycle support, offering world class design engineering, compliance, testing, certification, quality registration and program management. For additional information about NTS, visit the Company's website at .nts.com or call 800-270-2516.Forward-Looking Statements"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: With the exception of historical information, statements in this press release concerning future operations, plans or events are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Those forward looking statements, including statements about the Company's anticipated future operating results, are based on management's expectations at this time. Actual results may vary significantly from those suggested by the forward-looking statements due to uncertainties and a number of important risk factors. Those factors include, but are not limited to, the risk factors noted in NTS' Annual Report on 10-K and other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. NTS undertakes no obligation to release publicly the result of any revisions to these forward-looking statements that may be made to reflect circumstances or unanticipated events occurring after the date of this release.Important Additional Information:The Company will file a proxy statement and other relevant documents concerning the merger agreement, the proposed merger and related matters with the U.S. Securities and Exchange Commission ("SEC"). The proxy statement and other materials filed with the SEC will contain important information regarding the merger, including, among other things, the recommendation of the Company's board of directors with respect to the merger. SHAREHOLDERS ARE ENCOURAGED TO READ THE PROXY STATEMENT AND OTHER PROXY MATERIALS THAT THE COMPANY FILES WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE MERGER AND RELATED MATTERS. You will be able to obtain the proxy statement, as well as other filings containing information about the Company, free of charge, at the website maintained by the SEC at .sec.gov. Copies of the proxy statement and other filings made by the Company with the SEC can also be obtained, free of charge, by directing a request to National Technical Systems, Inc., 24007 Ventura Blvd., Calabasas, CA 91302, Attention: Corporate Secretary.The Company and its directors and executive officers and儲存倉other persons may be deemed to be participants in the solicitation of proxies in respect of the proposed transaction described in this release. Information regarding the Company's directors and executive officers is available in the Company's annual report on Form 10-K for the year ended January 31, 2013, which was filed with the SEC on April 30, 2013. If and to the extent that any of the Company participants will receive any additional benefits in connection with the proposed transaction that are unknown as of the date of this release, the details of those benefits will be described in the definitive proxy statement relating to the proposed Merger. Investors and shareholders can obtain more detailed information regarding the direct and indirect interests of the Company's directors and executive officers in the proposed merger by reading the definitive proxy statement when it becomes available.Contact: Allen & Caron Inc National Technical SystemsJill Bertotti (investors) Michael El-Hillow, CFOjill@allencaron.com mike.el-hillow@nts.comLen Hall (media) Aaron Cohen, Vice Chairmanlen@allencaron.com aaron.cohen@nts.com(949) 474-4300 (818) 591-0776TABLES FOLLOWNATIONAL TECHNICAL SYSTEMS, INC. AND SUBSIDIARIESUnaudited Consolidated Statements of OperationsThree Months Ended Six Months EndedJuly 31, July 31,2013 2012 2013 2012 ---- ---- ---- ----Net revenues $46,186,000 $47,329,000 $91,203,000 $90,782,000Cost of sales 31,719,000 34,519,000 63,206,000 66,651,000 ---------- ---------- ---------- ----------Gross profit 14,467,000 12,810,000 27,997,000 24,131,000Selling, general and administrative expense 11,539,000 8,667,000 21,578,000 17,079,000Restructuring costs 1,037,000 - 1,037,000 -Equity loss from non-consolidated subsidiary 6,000 123,000 38,000 136,000 ----- ------- ------ -------Operating income 1,885,000 4,020,000 5,344,000 6,916,000Other income (expense):Interest expense, net (1,864,000) (922,000) (2,655,000) (1,799,000)Legal and settlement expense - - - -Other income (expense), net 68,000 65,000 82,000 93,000 ------ ------ ------ ------Total other income (expense), net (1,796,000) (857,000) (2,573,000) (1,706,000)Income before income taxes and noncontrolling interests 89,000 3,163,000 2,771,000 5,210,000Income taxes 38,000 1,313,000 1,104,000 2,146,000 ------ --------- --------- ---------Net income from continuing operations 51,000 1,850,000 1,667,000 3,064,000Loss from discontinued operations, net of tax - (12,000) - (4,000) --- ------- --- ------Net income 51,000 1,838,000 1,667,000 3,060,000Net income attributable to noncontrolling interests (195,000) (236,000) (380,000) (504,000) -------- -------- -------- --------Net (loss) income attributable to NTS $(144,000) $1,602,000 $1,287,000 $2,556,000 ========= ========== ========== ==========Net (loss) income from continuing operations attributable to NTS $(144,000) $1,614,000 $1,287,000 $2,560,000Net loss from discontinued operations attributable to NTS $ - $(12,000) $ - $(4,000)Basic earnings attributable to NTS per common share:Net (loss) income from continuing operations $(0.01) $0.14 $0.11 $0.23Net loss from discontinued operations - - - -Net (loss) income attributable to NTS $(0.01) $0.14 $0.11 $0.23 ====== ===== ===== =====Diluted earnings attributable to NTS per common share:Net (loss) income from continuing operations $(0.01) $0.14 $0.11 $0.22Net loss from discontinued operations - - - -Net (loss) income attributable to NTS $(0.01) $0.13 $0.11 $0.22 ====== ===== ===== =====Weighted average common shares outstanding 11,598,000 11,340,000 11,544,000 11,330,000Dilutive effect of stock options, nonvested shares and warrants 611,000 552,000 621,000 531,000Weighted average common shares outstanding,assuming dilution 12,209,000 11,892,000 12,165,000 11,861,000 ========== ========== ========== ==========NATIONAL TECHNICAL SYSTEMS, INC. AND SUBSIDIARIESReconciliation of Non-GAAP MeasureAdjusted EBITDA to Net IncomeThree Months Ended Six Months EndedJuly 31, July 31,2013 2012 2013 2012 ---- ---- ---- ----Net Income $51,000 $1,838,000 $1,667,000 $3,060,000AddInterest 1,864,000 922,000 2,655,000 1,799,000Taxes 38,000 1,313,000 1,104,000 2,146,000Depreciation 2,048,000 2,003,000 4,136,000 3,934,000Amortization 506,000 506,000 1,016,000 1,009,000 ------- ------- --------- ---------EBITDA 4,507,000 6,582,000 10,578,000 11,948,000 --------- --------- ---------- ----------AddShare based compensation 2,403,000 420,000 2,991,000 572,000 --------- ------- --------- -------Adjusted EBITDA $6,910,000 $7,002,000 $13,569,000 $12,520,000 ========== ========== =========== ===========Photo: photos.prnewswire.com/prnh/20110329/NTSLOGONational Technical Systems, Inc.Web site: .nts.com/迷你倉價錢

隨著上週間展開的香港理工大學設計學院設計年展（POLYU DESIGN ANNUAL SHOW 2013），mini storage曾榮獲「國際諾貝爾獎」PRITZKER ARCHITECTURE PRIZE、國際級女建築大師ZAHA HADID親手孕育的全新藝術之作賽馬會創新樓（JOCKEY CLUB INNOVATION TOWER）亦逐步開放。遠看如同飛船一般的流線型外觀，已叫人震撼驚歎；走入大樓中，無菌的純白色系加上開放式的設計，增強空間感之餘，亦予人無法言喻的親切舒適。對於處身於寸金尺土的我們來說更是一次全新的感官體驗，這大概就是新時代設計的完美演繹。為讓大家更為了解「飛船」的結構及概念，我們特別跟大師來次貼身訪談，與建築對話。 INTERVIEW WITH ZAHA HADID Z：ZAHA HADID、M：MILK M：2007年，你親身來港任命為賽馬會創新樓（JOCKEY CLUB INNOVATION TOWER）的建築師，這讓我們更為期待項目的誕生。可否跟我們分享大樓背後的概念？ Z：香港不同的城市結構層中，表露出這是個擁有多元歷史背景及景觀的城市，因而建構出一種獨特非常的味道。經過多年來的發展，這已成為世上最令人興奮、最複雜及最有活力的城市。我向來的建築均採用新概念、邏輯及方法去探究及組合複雜的元素，同時融匯及配合使用者的需求。賽馬會創新樓是為配合數碼廿一世紀而設計的靈活建築，以配備設計學院創意及多學科環境的流動性和串連性。至於其外觀，則是由香港理工大學現有建築進化而成的，把傳統長柱體塔狀及矮牆融為一體，化成一幢獨立的密封建築。當中可找到不少接連學習設施的內部及外部開放空間，以便提供更多予舉行研討會及大型展覽論壇的公共空間，讓學生、員工及訪客在此討論閒聊，碰撞出新想法和概念。 M：你認為設計最關鍵的地方是甚麼？ Z：我及我的團隊從來不會單按照簡要（BRIEF）字面上的意思去解讀建築背後之目的，皆因這不單勾起我們對建築企劃的興趣，更要助我們研究出更新更好的方法，讓使用者可以活用建築空間。而創新樓設計最為關鍵的地方是確保它可以鼓勵溝通；作為設計學院的基地，這幢大樓需要成為思潮湧動及文化交流的催化劑，提供機會予學生探索未知的世界，以及進行新技術及新媒體測試。創新樓的設計概念便由此出發，讓學生和香港理工大學的社群集體對話，互相討論研究，讓人才及創意思維得以延伸擴展開去。因此，內部和外部的開放空間結合內部緊密的結構，建構連接成一條無阻的通道，讓學生可自由通往工作坊及各種空間。同時，不同樓層均設有小型、私密的空間及工作室，讓使用者更容易理解及定位自己所處。這增強了連接及溝通，鼓勵促使新發現的相互作用。 M：你向來在設計過程中都會考量其周遭環境，賽馬會創新樓又如何配合其?育的氛圍／環境？ Z：沒錯，這是非常重要的——確保創新樓完全融合於香港理工大學的校園之內是設計最重要的一環。我們努力延伸及演化設計，讓它不單成為香港理工大學的其中一個景觀而已，更嘗試透過它由校園演變出來的流體幾何結構，變成校園生活中不可分割的一部分。因此在設計創新樓時，我們首先調查及研究校園景觀、地形及其流通性。及後，利用研究中得出的結果，我們設計了關鍵的連接通道及確保流通性的路線，再由此建構出校園北側這特色建築，相信這種嵌入方式可以確保它與校園保持最密切的連繫。 M：得悉你曾參與不少與藝術相關的建築企劃如美術館GUGGENHEIM MUSEUM及當代藝術中心LOIS & RICHARD ROSENTHAL。設計一幢涉及?育（社會）議題的賽馬會創新樓，對你來說又有甚麼挑戰？ Z：建築最終的目的都是滿足大眾所需，所以我希望為使用者?帶來愉快的心情及及讓之有所啟發。我認為建築可以為使用者帶來樂觀之感，讓他們對新思想感到興奮。因而我經常以提供令人振奮的體驗、啟發及激發起使用者熱血為目標，努力追求達到，創新樓亦一樣。我們欣賞每一位設計學生，把他們視為社會上寶貴一員，因此希望透過建築讓學生對校園及當中的空間產生歸屬感。這份義務及責任於一身的歸屬感，可賦予學生有權去探索設計無限的可能性。 M：題外話，記得你曾於以往的訪問中表示為香港山頂設計康樂設施「峰」（THE PEAK LEISURE CLUB）是你最為滿足的建築企劃，可否跟我們分享箇中原因？ Z：（笑）這是一個棘手的問題，我不能說只有一項企劃令我最滿意，因為每項企劃都代表著我不同時期建築旅程中的新挑戰，所以我為每幢我孕育出的建築感到同樣驕傲。他們self storage是我最喜歡的孩子！不過，你說得對，我對香港的「峰」俱樂部有一份特別的情意結，因為它令我（1983年）首次勝出比賽，獲得肯定，這是我職業生涯開始的原點。當我設計時，我覺得自己就像跨過了建築傳統的門檻，發掘出全新的建築方法。其實俱樂部的設計是非常抽象的，部份的設計嵌入山頂之內，部份設計元素則從山坡上投射出來。我贏得了比賽並獲贈獎金，這肯定了我在倫敦工作室的努力。 M：可否跟我們分享你下一步的計劃呢？ Z：建築並不會因時尚潮流、政治或經濟環境而有所影響，它是隨著由社會及科技發展所引發的創新週期之內在邏輯而生。我們使用新的建築方法及物料去設計建立創新樓，加強溝通並順應使用者的需求，相信這非凡進步的設計技術可讓建築師重新開始思考形式及空間。我們亦嘗試把這種新設計及建築技術注入城市規劃之中，容許每幢建築互相連接及溝通，以發展成一個具有高度相關性的城市。隨著建築本身回應使用模式及環境參數的結構，所有建築現在可以為更緊密的社會作出貢獻——為我們這個時代一些重要的問題提出解決方案。 KNOW MORE ABOUT THE MASTER! 《Zaha Hadid: Form in Motion》書中揭示了大師由1995至2011年的商業設計，探索建築、城市規劃及設計，深入了解其工作。$199 《Zaha Hadid》本書由MAXXI建築展覽部總監Margherita Guccione親手執筆，把大師的建築以另類角度呈現於讀者眼前。$225 《Zaha Hadid: Complete Works, 1979-2009》本書收錄了大師由1979至2009十年來的所有企劃，由建築至家具及室內設計的深入研究，值得一讀。$375 《Zaha Hadid: Pierres Vives》這幢「有生命的石頭」Pierres Vives是大師標誌作之一，書中深入解構其外觀設計至規劃空間。$429 《Inspiration and Process in Architecture: Zaha Hadid》Moleskine早前推出的建築系列，以專刊方式介紹大師事務所的設計流程，配合十八世紀布衣外皮包裝，值得收藏。$298 / set of 4 售賣點：Page One尖沙咀廣東道3-27號海港城3002號2730 6080 ABOUT ZAHA HADID 伊拉克裔英國女建築大師。1950年生於伊拉克，1972年從黎巴嫩移居至英國，就讀英國倫敦Architectural Association School of Architecture（AA），正式開始學習建築。取得碩士學位後，加入Office for Metropolitan Architecture建築事務所工作，並於AA執?鞭。1980年，成立了自己的建築師事務所。至1983年入選「The Peak Leisure Club」的企劃，引起國際的關注。多年來一直孕育出令人驚豔的建築，如丹麥哥本哈根的Ordrupgaard Annexe博物館、德國寶馬汽車公司中央大樓等。2004年，獲得Pritzker Architecture Prize，其才華受到國際肯定。 WHAT'S NEXT? 上週，國際奧委會宣布日本東京贏得2020年奧運主辦權，讓大家興奮不已。要知道東京於1964年成為亞洲首個主辦奧運的城市，當時其設計正在起步階段，拿下主辦權對日本設計有深遠的影響，結果亦令人相當滿意。去年，日本設計大師安藤忠雄已宣佈「NEW NATIONAL STADIUM JAPAN 日本新國立體育館」將由ZAHA HADID建築事務負責，而這大概就是傳奇大師最為矚目的下一步，亦將象徵著日本現代建築的重生。 大家遊訪大師之作——賽馬會創新樓時，不妨也到位於二樓及四樓的香港理工大學設計學院設計年展 2013，欣賞畢業同學們的設計作品。 「DESIGN MOVES.」理大設計年展2013 日期：即日起至2013年9月22日（星期日） 時間：星期一至日11:30至20:30 地點：香港理工大學賽馬會創新樓——紅磡育才道11號查詢：2766 5454 / sdmktg@polyu.edu.hk text：emily photo：c Edmon Leong (edmonleong1.sites.livebooks.com)、Zaha Hadid Architect、roy (interior)、jason (product) design：KeNNy迷你倉

今年以來，新蒲崗迷你倉指數走勢猶豫，投資者迷茫，機構之間牛熊激辯不休。雖然市場撲朔迷離，但個股表現不俗，兩市上漲個股占比超過6成，股價翻番的也不在少數。不過，就投資者的投資效果而言，估計獲取正收益的遠沒有60%。我們認為，投資操作失敗很大程度上來源於對傳統投資理念的理解和運用上的偏差。經過數據分析和市場觀察，過去兩年理想的策略並不是買入藍籌股並長期持有，而是波段操作藍籌股、短線追逐熱點題材、長線挖掘業績持續增長這三大投資理念，更契合A股市場實際。短線炒題材諾貝爾經濟學獎獲得者西蒙斯說：有價值的不是信息，而是注意力。股票題材首先體現了這種市場聚焦作用。如近期活躍的上海自貿區和土地流轉概念，均由政策信息激發而形成市場共識，從而刺激股價短期飆升。A股爆炒題材歷來為許多人所詬病，但我們認為這種理解有失公允。題材炒作在美國也一樣火熱，遠的有1999年的互聯網金融泡沫，近的有去年的3D打印、今年的特斯拉汽車，都是從美國傳導到中國的，可見成熟市場、新興市場都熱衷于題材炒作。題材炒作也不僅僅是一種博傻行為。從遠期看，它體現的是一種預期，對於個股而言就是所說的“市夢率”，若業績大幅增長便是夢想成真，反之則夢幻破滅股價暴跌。前者如互聯網泡沫後生存下來的新浪、百度、騰訊，後者在資本市場上則是尋常易見。所以，題材炒作要有敏銳的市場洞察力、政策理解力和風險自控力。波段做藍籌一直以來，監管層倡導價值投資，長期投資藍籌股。不過，從近兩年的市場表現看，長期持有藍籌並不是最好的策略。以最具代表性的銀行股浦發銀行為例，2012年年初“鑽石底”時的收盤價是7.86元，當年9月底報收6.83元，下跌13.1%；至今年2月4日報收11.52元，上漲46.6%；至今年7月底7.86元，盈虧平衡；若繼續持有到現在，漲幅為43.5%。其他如招商銀行、大秦鐵路、白雲機場等藍mini storage股走勢也大致相同，股價波動性非常大。如果長期持有，很可能是來來回回“坐電梯”。而如果選好階段低點中線介入，波段操作，則會獲得較好的投資收益。所以，藍籌股的投資價值在於追求價格的區間波動。這是因為，藍籌股業績穩定，但增長有限，所以其價值中樞相對穩定，但由於市場恐慌和興奮的情緒會周而複始地輪回，導致股價會圍繞價值中樞大幅擺動，但都不會偏離太遠。若把握價值中樞和波動規律，則波段操作的收益會相當可觀。長期捂成長俗話說，炒股票就是炒未來，未來的核心就是成長，只有業績持續增長才能帶來公司價值中樞的持續提升。統計數據顯示，從2012年1月至今近20個月的時間里，創業板中有101只股票漲幅超過60%，其中有71家公司2012年度和2013年上半年淨利潤同比增長，淨利潤算術平均增長率分別達到40.9%和49.2%。大華股份2008年9月18日股價最低時27.51元，至今年8月26日最高價複權達到371元，5年時間里上漲12.5倍。其業績也連續5年保持高速增長，淨利潤從2008年的1.04億元，上升到去年的6.97億元，5年淨利潤復合增長率高達60%。今年業績繼續保持高增長勢態，公司預告2013年1~9月淨利潤同比增長40%~70%。持久的業績增長吸引了投資者，也帶來價值中樞及股價的持續提升。所以，在目前的A股市場真正值得長期持有的是成長股，而非藍籌股。我們認為，短線炒題材、波段做藍籌、長期捂成長是過去也是未來很長一段時間行之有效的投資策略。三種投資策略對應的是公司萌芽、發展、成熟的三個階段：題材體現的是公司初始階段的價值發現；成長體現的是隨著業績增長公司價值中樞的提升，也是股價主升浪的階段；藍籌則屬於公司經營及價值穩定階段，追求的是價格的區間波動機會。投資者可以根據自己的交易風格確定短、中、長相結合的交易策略。（作者單位：天源證券）self storage

【明報專訊】美國蘋果公司昨日推出兩部新iPhone，文件倉高階的iPhone 5s 擁有全球最高規格的64bit 處理器和指紋辨識器等賣點，但功能欠驚喜，而一直盛傳要打入中國等新興市場的「廉價版」iPhone 5c， 逾4000 港元的售價與「廉價」有大段距離，令外界大跌眼鏡。業界質疑這樣的定價令蘋果難以打入新興市場，蘋果股價應聲急挫2.3%，昨晚開市後再跌近5％。打入新興市場期許落空iPhone 5c 與iPhone 5 一樣採用A6處理器，主要分別是5c 機身較厚較重、支援更多4G 頻譜，備用時間則增至250 小時。5s 外形和重量與iPhone 5 一樣，但採用號稱「家庭電腦級」的64bit A7 處理器，並擁有指紋辨識器、高清慢動作拍片和雙LED 等功能。5c 主打年輕市場，機身有5 種顏色，5s 則有3 種顏色。嶄新的指紋辨識系統裝在圓形Home 鍵內，蘋果視此為一項安全功能。用家的指紋不會被iPhone 上傳到雲端伺服器上，只能儲存在手機內。專門生產電腦及智能手機指紋認證的本港上市公司世達科技首席財務官郭凌而解釋，穩健準確的認證至少要辨認到20 個指紋特徵點，但單從蘋果的宣傳影片所見，新iPhone 5s 未有採用行內常見的掃刷（swipe） 方式， 用家只要按住Home 鍵就可認證指紋，因存倉見到實物，暫未知認證準繩度如何。內地價貴美加港最少1/4中國大陸和香港同為新iPhone 首批上市的地區，香港買家可於明日（周五）起預訂5c，下周五起有現貨供應，16GB 售4688 元；5s 則在下周五接受預訂， 16GB 售5588元。內地首次成為iPhone 首發地，5c 定價為4488 元人民幣起，5s 為5288 元人民幣起。從價錢看，內地iPhone 比美國、加拿大和本港要貴1/3 至1/4。外界本預期蘋果會為5c 定下「進取價」， 如約2000 至3000元，以擴充新興市場份額，但昨日價單一出，惹來不少不滿聲音。內地不少網民批評5c 只是塑膠版的iPhone 5，但價錢卻與後者相同，有人批評蘋果在中國開價太狠，「當中國人是鄉下人」。中港電訊股齊跌新iPhone 售價高過預期，顯示蘋果仍不願以低利潤銷售方式來爭取市場佔有率，但投資者卻擔心新iPhone 的定價難以吸引新興市場消費者，蘋果股價在發布會後下跌2.3%。蘋果在內地的智能手機市佔率在第2 季跌至5% ， 落後於三星、聯想和華為等手機商。中港兩地的電訊商股價昨亦普遍下跌。本港電訊股和電香港及電訊盈科均跌近3％，數碼通跌1.6％。內地電訊商中移動一度跌2％，午後收復失地，收市跌0.8％，另一家內地電訊商中電信亦跌1.7％。（綜合報道）迷你倉

自存倉 一架泰航（Thai Airways）客機周日晚降落泰國新曼谷國際機場時滑出跑道，13 名乘客在疏散時受傷，幸無人喪生。據泰航聲明，班次679的空巴A330-300 型客機從廣州起飛，於晚上11 時20分（香港時間昨日凌晨零時20 分）抵達曼谷，但降落時起落架發生故障衝出跑道並冒出火花。機上共有288 名乘客，而受傷乘客中包括9 名中國人、2 名泰國人和1 名津巴布韋人。中國傷者除1 人手骨骨折外，其餘均為輕傷，已陸續出院。迷你倉新蒲崗

本報訊（記者趙野）嘉峪關一男子刑滿釋放不到半年，迷你倉出租就單獨或伙同他人盜竊電動車。9月9日，記者獲悉，馬木、馬三因犯盜竊罪被嘉峪關市人民法院分別判處拘役5個月、4個月，均被處罰金1000元。2012年7月馬木（化名）曾因犯盜竊罪被判拘役5個月，刑滿出獄不到半年，馬木就又幹起了老本行。2013年4月5日凌晨2時許，馬木在酒泉市肅州區某小區將一輛價值2900元的踏板摩托車盜走。同年4月26日，馬木和曾因犯掩飾、隱瞞犯罪所得罪被判拘役的馬三（化名）在嘉峪關市人民商城北側新華書店樓下盜取一輛價值1369元的電動車迷你倉輛，後馬木將電動車以500元價格銷贓。次日凌晨2時、4時許，馬三又在嘉峪關市內兩地盜竊價值共計1200元左右的電動車。27日16時許，馬木和馬三被警方在其居住地抓獲。經查，馬木參與盜竊作案二起，盜竊物品價值共計4269元；馬三參與盜竊作案三起，盜竊物品價值共計2532元。破案後贓物均已被追回。法院審理認為，馬木、馬三以非法佔有為目的，秘密竊取他人財物，數額較大，其行為均已構成盜竊罪，應當承擔刑事責任。鑒於案發後馬木、馬三如實供述所犯罪行，認罪態度較好，且被盜贓物均已被追回，故決定對二被告人酌情從輕判處。儲存倉

【香港商報訊】政府統計處昨公布，迷你倉新蒲崗今年第二季的港口貨物吞吐量按年跌1%，至6870萬公噸。當中抵港港口貨物與去年同期相若，達4070萬公噸，而離港港口貨物則跌1%，至2800萬公噸。 今年上半年的港口貨物吞吐量較上年同期下跌2%，為13120萬公噸。當中，抵港及離港港口貨物分別下跌1%及3%，為7630萬公噸及5490萬公噸。 �生維持港全年迷你倉出租長3% 另外，�生(011)昨公布最新一份《香港經濟脈搏》，維持今年本港經濟增長3%的預測。�生表示，本港次季經濟表現理想，經濟增速加快，通脹逐步回復溫和，反映整體經濟增長動力轉趨穩固。�生認為，新興亞洲國家的經常帳收支惡化，但不足以導致全面國家收支危機，所以對本港經濟前景仍審慎樂觀，考慮到上半年經濟增長3.1%，因此維持全年經濟增長3%的預測不變。迷你倉

中秋節將屆，自存倉應景烤肉活動多，少不了醬料調味，衛生局針對醬料販賣商、路邊小吃攤、自助餐等醬料進行抽驗，結果有25.6％檢出防腐劑超量不合格。衛生局食品衛生科派員抽驗82件醬料，結果有21件不合格均驗出防腐劑超量外，其中1件不但檢出苯甲酸超量，還添加俗稱甜精及糖精的甜味劑。除下令店家立即將違規產品下架並轉知屏東縣衛生局，依違反食品衛生管理法第18條處3至15萬元罰鍰。食品衛生科表示，苯甲酸及己二烯酸等防腐劑雖迷你倉新蒲崗使用於醬油、辣椒醬、蕃茄醬等調味料，但每公斤不可超過1公克；羥苯甲酸丙酯、羥苯甲酸丁酯不可超過每公斤0.25公克。至於糖精等調味劑，不得添加於日常生活經常食用的醬油、辣椒醬、蕃茄醬等調味料內；同一食品同時添加多種食品添加物、防腐劑時，加起來總重不得超過每公斤1公克。食品科強調，相關規定經過強力宣導及抽驗列管輔導後，業者知道會面臨重罰已明顯降低相關添加物用量。民眾若發現有問題，可洽詢專線：0800285000。迷你倉出租

迷你倉價錢 bjyouth.ynet.com/html/2013-09/10/content_9138.htm?div=-1...下午4點張阿姨到學校接完上小學的外孫回家，把從超市買來的速凍花卷放進蒸鍋再次加熱；然後就開始炒菜，最後把一袋速凍餛飩煮好，...迷你倉最平