Grass Valley, California--(Newsfile Corp. - November 20, 2024) - Rise Gold Corp. (CSE: RISE) (OTCQX: RYES) (the "Company") announces that all proposed resolutions were passed at the Company's annual general meeting of shareholders held today's date. Joseph E. Mullin III, Thomas I. Vehrs, Lawrence W. Lepard, Daniel Oliver Jr. and Clynton R. Nauman were all elected as directors of the Company for the coming year and Davidson & Company LLP were re-appointed as auditors of the Company for the ensuing year. Sha ...

一、涉及公司 General Motors Company（通用汽车公司）[1] 二、核心观点与论据 （一）业务表现与目标 1. **季度表现与全年展望** - 本季度至今一切都与指引相符，10月表现良好，11月至今激励水平稳定。对团队今年的执行能力感到骄傲，在电动汽车（EV）初始爬坡遇到挑战后成功扩大规模，现在能根据需求生产。[4] - EV需求增长领先行业，11月上半月情况良好，将继续以消费者为导向提供产品。[6] - 2025年战略暂不做更多评论，将在四季度财报电话会议给出指引，2025年预算进展顺利，12月向董事会汇报后会给出更多细节。[7] 2. **EV相关目标进展** - 2024年EV 200,000辆的生产目标和EV可变利润为正的目标都在正轨上。即将推出Escalade IQ车型，随着新车型推出，2025年要考虑库存水平。[8][9] - 对部分车型（如Equinox）的早期回报感到兴奋，将继续推进成本节约等工作。[10] 3. **库存情况** - 10月底第三方数据显示库存为74天，虽进入季度时高于50 - 60天的年终目标，但由于四季度有8个少生产日（如选举日、退伍军人日、感恩节、圣诞节等），仍相信年终能达到50 - 60天的范围。[11] （二）应对政策潜在变化的策略 1. **政策变化影响** - 选举后有很多政策潜在变化（如IRA可能被废除、EV强制令可能被取消、CAFE和EPA可能调整等），但现在推测还为时过早，公司很多做法将继续，不管监管如何变化，都会继续强调成本降低、简化、根据需求扩大规模等，因为EV渗透是长期目标。[19] - EV的采用率不会是线性增长，会有起伏，公司EV增长快于行业，能在该领域获取份额并提供好产品。[20] - 激励环境和监管环境自IRA以来相互关联，要确保监管合理，公司有灵活性应对消费者需求，将继续与新政府合作找出最佳发展路径。[21] 2. **IRA信用对定价策略的重要性** - 公司定价策略相对谨慎，EV激励负荷低于行业约一半，因为产品续航、充电等性能较好，产品反响不错。[22][23] （三）资源分配 1. **资本支出** - 过去几年建立了有纪律的资本支出记录，有超过110亿美元目标的想法是好事，要进行分配和优先排序。约三分之二的项目资本用于EV，三分之一用于内燃机（ICE）汽车，ICE的更新项目进展良好。[24] - 在EV方面要继续降低成本（如电池成本）、提高软件执行等，投资组合看起来不错，未来可能根据采用曲线和监管目标调整转型速度，资本预算有灵活性。[27] 2. **应对需求变化的灵活性** - 如果EV需求变弱，公司有一定灵活性调整生产，但这不是毫无问题，公司团队在面对逆境时有执行和展示韧性的能力，在部分工厂有调整生产线的灵活性，要与供应商合作管理。[28] （四）贸易相关 1. **USMCA影响** - 公司制造组合平衡，在美国有大规模业务，例如在电池生产方面，与LG合作是美国最大的电池生产商，当初可以选择更便宜的进口技术但未这样做。[29] - 将继续与政府合作，目标与政府在就业等方面的目标一致，要在全球竞争中有平衡和灵活性。[30] 2. **零部件依赖情况** - 北美生产中来自中国的零部件占比非常小，虽有但比大多数人想象的低，是可管理的。[31] （五）盈利相关 1. **EV利润目标与产量关系** - EV利润目标（20 - 40亿美元利润提升）有产量因素，2024年生产目标是20 - 30万辆的下限，2025年仍有规模效益。2024年四季度将生产约80,000辆EV，这一生产速度有年度节省，但不会承诺按此速度生产，因为最终由消费者决定产量。[33][34] 2. **租赁情况** - 公司不依赖租赁，是消费者推动了EV租赁渗透率提高，早期采用者多为高收入者，很多可能不符合7,500美元补贴资格。很多购买者选择租赁是因为不确定残值和充电情况。租赁时7,500美元补贴留在公司，可通过出售或自用税收抵免收回，EV经济情况虽不如ICE但与购买端较一致。[39][40][41] 3. **ICE产品组合更新** - 尽管行业平均交易价格（ATP）下降，但公司整体定价稳定，如Trax、Trailblazer和Envista等低价车型销量增加，提升了市场份额且比前代更盈利，2025年定价假设会谨慎制定。[43][44][45] - 公司通过减少可构建组合数量降低了制造成本，提高了利润率，如一些中型SUV利润率提高了10个点，2025年小型SUV受益可能减少，中型SUV还有约6个月受益期，新的大型SUV更新推出也会有受益。[46][47] （六）现金与资产负债表 1. **现金水平与资本分配** - 目标现金水平为180 - 200亿美元，三季度末现金较高，四季度和一季度初有现金需求（如生产日减少等）。资本分配方面，110亿美元左右的资本投入目标合适，要保持灵活性。[52][53][54] - 资产负债表强劲，养老金资金充足，2025年有25亿美元债务到期，可考虑再融资或用现金偿还。[55] 2. **股东回报** - 只要市盈率低就会继续优先进行股票回购，若市盈率达到更合理水平会更多转向分红，公司有相对保守的分红政策。[56] - 2023年因股票数量减少提高了股息，随着股票数量下降有机会继续平衡，目前优先股票回购。[57] - 2023年的加速股票回购（ASR）计划效果好，退休了约2.5亿股，ASR的好处是承诺性强。未来会考虑更平衡的方法，不一定会再进行ASR，已建立足够信誉表明会按自由现金流执行股票回购。[59][60][62] （七）对投资者担忧的回应 1. **关于库存水平** - EV和ICE库存思考方式不同，目前谈50 - 60天库存指的是ICE。EV需求低，库存天数计算更高，要先提高车辆在经销商处的数量以提高认知度，之后再考虑库存天数，新车型推出会使库存天数上升。[64][65][66] 2. **关于长期竞争** - 公司首要任务是让EV盈利，特斯拉用了很长时间，Rivian还未做到，公司有后发优势能更快跨越曲线。即使Cruise不成功，公司也不会归零，公司正在优先进行软件执行以支持空中升级等。[69] - 公司自由现金流收益率仍远高于15 - 20%，股票被低估，要持续执行以提升价值。[72] 3. **关于盈利可持续性** - 公司内部禁用“正常化”一词，可能已经建立了新的常态，学会了产品定价、不盲目反应等，要避免自我造成的周期放大，即使在市场下行也能比以前表现更好，基本策略正在有效运行。[74][75][76][77][79] 三、其他重要内容 1. 在问答环节中，有未被识别的分析师提问关于库存损失、Cruise对公司长期价值影响以及盈利可持续性等问题，这些问题反映了投资者和市场对公司的关注重点。[63][68][73] 2. 会议中提到了一些行业普遍关注的话题，如IRA政策、EV租赁渗透率、行业平均交易价格（ATP）等，这些话题有助于了解公司在行业中的定位和应对策略。

Daix (France), Long Island City (New York, United States), November 20, 2024 – Inventiva (Euronext Paris and Nasdaq: IVA), a clinical-stage biopharmaceutical company focused on the development of oral small molecule therapies for the treatment of metabolic dysfunction-associated steatohepatitis (“MASH”), also known as non-alcoholic steatohepatitis (“NASH”), and other diseases with significant unmet medical needs, today announced the availability of the preparatory documents for the Combined General Meeting ...

Shares of Dollar General (DG -3.66%) were moving lower today, even though there was no company-specific news out on the discount retailer. Instead, the move seemed to come in response to disappointing results from Target (TGT -21.07%) this morning, which seemed to confirm that Walmart (WMT 0.27%), which reported earnings yesterday, is continuing to gobble up market share from competitors like Target and Dollar General.As of 1:19 p.m. ET, Dollar General stock was down 4.5%. Dollar General's weakness continue ...

General Motors (GM -2.03%) isn't the company it was a decade ago. It's a leader in the most lucrative segments of the auto business, trucks and SUVs, and is growing in both EVs and autonomy. With a valuation that's too good to pass up, this could be a rocket stock, which Travis Hoium highlights in this video.*Stock prices used were end-of-day prices of Nov. 19, 2024. The video was published on Nov. 20, 2024. ...

ALMATY, Kazakhstan, Nov. 20, 2024 (GLOBE NEWSWIRE) -- Joint Stock Company Kaspi.kz (Nasdaq: KSPI) announces that the following resolutions were duly passed at its Extraordinary General Meeting on 19 November 2024: To approve the agenda of the Extraordinary General Meeting of Shareholders of JSC Kaspi.kz:1) Approval of the agenda;2) Payment of dividends on common shares of JSC Kaspi.kz and approval of the amount of dividend per common share;3) Approval of amended Charter of JSC Kaspi.kz;4) Election of the Bo ...

NETANYA, Israel, Nov. 20, 2024 /PRNewswire/ -- Cellcom Israel Ltd. (TASE: CEL) (the "Company") announces that the Meeting will convene on Thursday, December 26, 2024, at 15:00 p.m. (Israel time), at the offices of the Company, 10 Ha'gavish Street, Netanya, Israel. An adjourned Meeting, if required, will be held on Thursday, January 2, 2025, at the same time and at the same place. The record date for the Meeting is November 27, 2024.The Agenda of the Meeting Discussion on of the Company's audited annual fina ...

SHANGHAI, Nov. 19, 2024 /PRNewswire/ -- The9 Limited (Nasdaq: NCTY) (the "Company"), an established Internet company, today announced that it has called an extraordinary general meeting (the "AGM") of shareholders and has approved the issuance of Class B ordinary shares to its chairman of the Board of Directors and chief executive officer Mr. Jun Zhu.AGMThe AGM will be held at the BNY Mellon Office, Room No. 4, 26/F Three Pacific Place, 1 Queen's Road East, Hong Kong on December 27, 2024 at 2:00 p.m., Hong ...

Intrepid Metals Announces Availability of Annual General and Special Meeting MaterialsNovember 19, 2024 5:14 PM EST | Source: Intrepid Metals Corp.Vancouver, British Columbia--(Newsfile Corp. - November 19, 2024) - Intrepid Metals Corp. (TSXV: INTR) (OTCQB: IMTCF) ("Intrepid" or the "Company") announces that due to the Canada postal strike, materials for its upcoming Annual General and Special Meeting (the "Meeting") being held on Thursday, December 19, 2024, are posted under the Company's pro ...

ATLANTA, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Gray Media (NYSE: GTN) today announced the retirements of three veteran broadcasters occurring this month. In Presque Isle, Maine, Kelly Landeen is retiring as the General Manager and Director of Sales of WAGM. In Hazard, Kentucky, Neil Middleton is retiring as the General Manager of WYMT. In Topeka, Kansas, Roger Brokke is retiring as the General Manager and Director of Sales of WIBW. Kelly Landeen started her media career in 1990 at WAGM in Presque Isle as an acc ...