Strong infrastructure with numerous professional teams, leagues, and tournaments. Prominent organizations such as Riot Games and Blizzard Entertainment are based here. • With high internet penetration and a strong digital culture, countries such as the US and Canada have seen a surge in online gaming and esports viewership. The convenience and accessibility of digital platforms contribute significantly to the demand for esports.

Engineering services outsourcing is the practice of hiring external engineering firms or contractors to provide a range of engineering services to a company, such as product design, prototyping, testing, simulation, and analysis, to leverage specialized skills, knowledge, and resources and improve the efficiency and effectiveness of a companys engineering activities. It also provides access to the latest technologies and tools, enabling companies to innovate and develop products more quickly and cost-effectively.

ERP system helps organizations to manage several aspects of the business process. Firms can collect critical insight and information from different departments of their business by integrating different processes, systems, and enterprises.

美国总统特朗普 4 月 2 日在白宫签署行政令，宣布美国对贸易伙伴设 立 10%的“最低基准关税”，于 4 月 5 日生效，并对某些贸易伙伴征收 更高关税，其中拟对中国加征 34%关税，于 4 月 9 日生效。作为反制 手段，4 月 4 日，国务院关税税则委员会发布公告，对原产美国的所有 商品加征 34%关税，于 4 月 10 日生效。

关注物管板块边际改善+变局时代高股息和纯内需避险属性带来的机会 24 年物管行业财报表现延续了 22 年以来在管面积和营收增速放缓的趋势， 继续消化地产影响和粗放扩张带来的“后遗症”，总体表现符合市场预期， 亮点在于高股息和国央企盈利能力的持续改善。往后看，我们看好地产拖累 减弱、消费潜在回暖和高股息属性持续验证的趋势下，物管板块边际改善带 来的投资机会。尤其在当前的大变局时代，板块的高股息和纯内需避险属性 更加值得重视。建议关注：1、可选消费属性更为突出的标的，例如商管业 务毛利占比较高的华润万象生活，以及社区增值服务毛利占比较高的绿城服 务；2、盈利具备韧性，同时现金流稳健的高股息（或具备高股息潜力）标 的，如中海物业、保利物业、招商积余、滨江服务；3、历史风险化解较为 充分且市拓维持规模的部分民企。