The general view on biostimulants is that they are neither fertilizers nor pesticides, and are in some ways beneficial to the plant body. Given the urgent need to enhance the productivity of agricultural lands, this niche segment has been registering robust growth. Regional bodies, such as the European Biostimulant Industry Council (EBIC) and Biostimulant Coalition, have defined the segment to provide a clear picture.

The increasing environmental awareness and growing threats to the ecology have been forcing government bodies and regulatory agencies around the world to develop newer practices, in order to create sustainable human communities. As a part of the same, there have been many developments lately to enhance the recyclability of resources, such as wastewater sludge and excreta (the primary sources of biosolids), as they are dangerous to both the human health and the environment, if not managed properly. The pollution prevention programs and industrial pretreatment in the United States have substantially reduced levels of metals and other pollutants going into wastewater treatment plants, resulting in noticeable improvements in biosolids’ quality. The capital expenditure and management of municipal wastewater treatment services has been increasing in the recent times in the United States. The Public Owned Treatment Works (POTW) in the United States produces nearly 0.16 pounds (by dry weight) of sewage sludge per person per day, among the total sewage treatment services.

我们认为云游戏与AR/VR 等新一代智能硬件结合，可能成为5G 时代的第一个杀手级应用。5G 解决了困扰云游戏及AR/VR 很多年的网络带宽和延迟问题，3D 视觉、语音交互等AI 功能也为游戏带来更好的体验。我们看到中国移动、中国联通等电信运营商，亚马逊、微软、谷歌、腾讯、阿里巴巴等互联网公司，索尼、英伟达等硬件企业都在积极布局与探索云游戏的商业模式，云游戏与AR/VR 硬件亦会相辅相成。建议投资人关注AR/VR 近眼显示光学方案、AR/VR 芯片平台、追踪相机与传感器等产业链核心环节。

至2019 年7 月15 日，A 股创业板所有767 家公司已全部披露中期预告。根据公布的数据测算，创业板中期预告净利润共计569 亿元，同比增速-1.0%，相比一季度有所改善，剔除温氏后，同比增速-1.84%，相对一季度剔除温氏的数据也有所改善；二季度单季度净利润共计324 亿元，环比增长32.7%。相比19 年一季度有所改善，上市公司并购重组的商誉减值已在2018 年年底渡过高峰期，带来一季报和中报预告中创业板整体净利润水平的恢复，体现在了环比增长的数据中。

创业板披露率约为95%，中小板披露率约50%。整体法下，创业板2019H1盈利增速为2.3%，Q2 单季度为12.7%，中小板2019H1 盈利增速为5.5%，Q2 单季度为22.6%。科技行业（计算机、通信、电子、传媒、军工和电力设备）2019 年上半年净利润增速（整体法）为-0.6%，Q2 单季度净利润增速为10%。计算机、通信、电子、电力设备、机械行业Q2 单季度盈利增速均超过15%。

截至2019 年7 月15 日，共1799 家上市公司发布业绩预告，占比50%，低于2018 年中报预告披露率56.7%。主板、中小板、创业板披露公司数量占比分别为21.1%、50.2%和99.6%，创业板可参考性更强。2019 年中报预期全A 正面预告比例环比继续下降。

科创板首批公司初步询价结果已经出炉，25 家公司拟融资规模310 亿元，实际募资规模370 亿元，超募60 亿元，平均每家企业超募2.37 亿，平均超募比例达到35%，整体超募比例约20%，发行溢价明显。超募成为科创板IPO 的普遍现象。

Veterinary molecular diagnostics refer to the molecular diagnostic techniques that are employed to analyze samples originating from animals (companion, domestic, etc.) Developments in the farm animals sector and changing societal attitude towards pet animals have resulted in an increased demand for fast and reliable diagnostic techniques. Molecular diagnostics possess the potential to address this growing demand.