9月25日，A股市场震荡上行，创业板指续创3年多新高。 京东集团港股股价盘中一度涨近7%。今天京东宣布，未来三年将持续投入，带动形成万亿规模的人工智能生态。 富时中国A50指数期货午后涨幅明显。 | ( | 富时中国A50期货 | | | | | --- | --- | --- | --- | --- | | | CN.SG | | | | | 15213 | 昨结 | 15119 | 开盘 | 15116 | | +94 | +0.62% 总手 | 58.14万 | 现手 | 54 | | 最高价 | 持 仓 15291 | 80.42万 | 外 | 27.01万 | | 最低价 | 15076 增 仓 -31.89万 | | 전 | 31.13万 | | 结算价 | 15119 估结值 | 0 | 喜 差 | 0.00 | | स्त्रेष | 五日 日Ｋ 周Ｋ 月Ｋ 更多 | | | | | ෆ加 | | | | | | | | | | 참□ | | 15291 | 1.14% 卖1 15213 | | 买1 15212 | 10 38 | | | | | 15:02 15213 | 1 | | | ...

Core Viewpoint - The company, Junda Co., announced a guarantee for a credit facility of RMB 100 million for its wholly-owned subsidiary, Chuzhou Jietai New Energy Technology Co., Ltd, from Shanghai Pudong Development Bank Chuzhou Branch, within a total expected guarantee limit of RMB 1.4 billion approved by the board and shareholders [1] Financial Summary - As of December 31, 2024, Chuzhou Jietai's total assets amounted to RMB 862.11 million, total liabilities were RMB 629.87 million, and net assets stood at RMB 232.24 million [1] - For the fiscal year 2024, the company's operating revenue was RMB 605.85 million, while it reported a net loss of RMB 22.35 million [1] Guarantee and Liability Overview - The cumulative amount of guarantees provided by the company and its wholly-owned and subsidiary companies is RMB 921.76 million, which represents 237.14% of the company's most recent audited net assets [1] - There are currently no overdue guarantees or guarantees involved in litigation [1]

| | 15.79 4.16% | | 24.94亿 | | --- | --- | --- | --- | | 融 000878 | | | | | 天齐锂业 | 44.69 | 3.11% 32.85亿 | | | 融 002466 | | | | | 金力永磁 | 35.34 | 2.88% | 19.45亿 | | 融 300748 | | | | | 厦门钨业 | 28.78 | 2.68% | 16.28亿 | | 融 600549 | | | | 消息面上，9月初矿业巨头Freeport McMoRan的印尼子公司Grasberg矿山发生大规模湿性矿料涌出事故，Grasberg矿区停产。 9月24日，Freeport在官网更新了事故公告，称受该事故影响，Grasberg矿山的2026年铜金产量或骤降35%，目标在2027 年恢复至 事故前的生产速度。 Grasberg矿山占Freeport公司已探明储量的50%和2029年前预计产量的约70%，长期停产将对全球铜供应链造成持续冲击。 作为全球第二大铜矿，Grasberg矿山的突然停产立即引发市场对供应中断的担忧。 9月25日，有色金属板块大涨，精 ...

Market Overview - The market experienced a volatile upward trend, with the ChiNext Index rebounding and rising over 2%, reaching a new three-year high. The Shanghai Composite Index fell by 0.01%, while the Shenzhen Component Index increased by 0.67%, and the ChiNext Index rose by 1.58% [1] Sector Performance - The AI sector continued to perform strongly, with companies such as Inspur Information, Cambridge Technology, and Huagong Technology hitting their daily limit and reaching historical highs. Other notable performers included Zhongke Shuguang and Huqin Technology, which also saw significant gains [2] - The energy storage sector showed a strong upward trend, with Sunshine Power and CATL reaching historical highs [3] - The semiconductor industry chain remained active, with Zhangjiang Hi-Tech, Tongfu Microelectronics, and Kaimete Gas experiencing substantial gains and reaching historical highs [4] - Conversely, the port and shipping sector collectively declined, with Nanjing Port experiencing a drop of over 9% at one point [5] Trading Volume - The total trading volume in the Shanghai and Shenzhen markets reached 2.37 trillion yuan, an increase of 44.3 billion yuan compared to the previous trading day. Notably, Luxshare Precision had a trading volume of nearly 23 billion yuan, leading the market, followed by Zhongji Xuchuang, Xinyi Sheng, and CATL, which also had high trading volumes [6]

9月24日晚，胖东来官方抖音号发布说明称，2025年1月，胖东来诚邀香港陈幼坚设计团队负责胖东来实 业有限公司整体包装体系设计，设计内容包括：烘焙类视觉体系、熟食类视觉体系、月饼礼盒包装及散 装月饼包装。其中2025年中秋月饼礼盒9款设计费用372万元，散饼包装21款设计费用42万元。 针对"胖东来月饼礼盒设计费一千万"传闻，胖东来进行了否认。 0:00 ...

Core Insights - The number of urban landfills in China has decreased from 640 in 2015 to 366 in 2023, indicating a significant shift towards waste incineration as the primary method of waste management [1][6] - Major cities are actively engaging in the restoration and repurposing of landfills, with notable projects like the Hai Kou Yan Chun Ling landfill and the Shenzhen Yu Long landfill, which are being transformed into eco-friendly and industrial spaces [1][4] Group 1: Landfill Statistics and Trends - As of 2023, incineration accounts for 75.3% of urban waste treatment in China, with 696 incineration facilities compared to 366 landfills [6] - The Yu Long landfill in Shenzhen, once the largest in the city, is undergoing a major restoration project with a total investment of 21.7 billion yuan, aimed at converting the site into digital industry land [2][4] Group 2: Project Details and Implications - The Yu Long landfill restoration project is expected to release approximately 300,000 square meters of industrial land, with construction scheduled to be completed by the end of 2026 [3][4] - The project includes comprehensive environmental restoration efforts such as waste excavation, leachate treatment, and odor control, with a total construction duration of 894 days [4][3] Group 3: Future Directions and Comparisons - The transformation of landfills into parks and industrial areas is becoming a common practice, with examples from cities like Wuhan and Hangzhou, although the Yu Long landfill's conversion into industrial land is relatively unique [7][8] - Shenzhen's ongoing efforts to manage and repurpose closed landfills are guided by new local standards aimed at enhancing land use and mitigating environmental impacts [8][9]

2025年，散煤治理迎来第十年重要节点。 散煤是我国大气污染的主要来源之一，泛指未经集中净化处理的分散燃烧煤炭，包括工业小锅炉、建材 小窑炉等。在完成《大气污染防治行动计划》后，我国于2017年首次提出"蓝天保卫战"，并于2018年至 2021年实施《打赢蓝天保卫战三年行动计划》，2023年起启动《空气质量持续改善行动计划》。 在近日召开的"第十届散煤综合治理大会"上，中国工程院院士杜祥琬表示，十年来在生态环境部、住房 和城乡建设部、国家能源局等部门的统筹推动下，我国通过"煤改电""煤改气"等清洁取暖工程，以及建 筑节能改造、可再生能源替代和工业散煤治理等多种措施，散煤治理取得了历史性突破。会上正式发布 《中国散煤综合治理研究报告2025》(以下简称《报告》)。十年来京津冀PM2.5浓度下降超50% 在上述会议上，杜祥琬介绍，目前，全国累计削减散烧煤消费量约6亿吨，北方清洁取暖率从2018年的 不足30%提升至目前的80%以上。重点区域空气质量显著改善，京津冀及周边地区PM2.5平均浓度较十 年前下降超过了50%，蓝天保卫战取得阶段性重大进展。 北京大学能源研究院副院长杨雷也在会上提供了一组直观数据：京津冀地 ...

智元机器人可以借助上纬新材发股融资或收购资产。而如果要进行这一系列操作，很容易稀释智元机器人持有的上纬新材股 份，如果持股份额太低，甚至会丢失控制权。 值得一提的是，截至9月24日晚收盘，上纬新材股价已经达到112.7元/股，要约收购价格与股价差了近15倍。 这也就意味着，尽管公告明确，本次要约收购股份为"除收购人及其一致行动人之外的其他所有股东持有的无限售条件流通 股"，但实际上，这场要约可能是"定向"的。散户，尤其在上纬新材公告拟易主智元机器人后进入的散户们，已经被排除在要约 之外。 在控制权落袋为安后的第二天，智元机器人迫不及待推动要约收购落地。 9月24日晚间，上纬新材（688585.SH）公布了《要约收购报告书》，智元机器人及核心管理团队共同出资设立的持股平台上海 智元恒岳科技合伙企业（有限合伙）（简称"智元恒岳"），拟以7.78元/股的要约价格要约收购上纬新材1.49亿股股票（占上市公 司总股本的37.00%）。 事实上，从协议转让方案中精准压线29.99%就能看出，智元机器人从一开始，就没有把其他个人纳入到要约收购名单。 低价要约收购 7.78元/股的价格有多低呢？根据《收购管理办法》第三十五条 ...

消息面上，据报道，9月25日，2025年全国国庆文化和旅游消费月主场活动在四川省成都市举办，正式 启动国庆文旅消费月，于9月下旬至10月下旬开展系列文旅消费活动，激发假日消费活力，满足人民美 好生活需要。 9月19日，2025年海口国庆中秋双节促消费活动新闻发布会举办。据悉，海口市将发放1000万元的旅游 消费券，单人"机票+酒店"最高可省1800元。 9月15日，酒鬼酒在投资者关系活动记录表中称，公司与胖东来合作的联名产品"酒鬼·自由爱"上市以来 获得了消费者的广泛认可，目前该产品正按照合作计划进行发货。 据21世纪经济报道9月12日报道，正当市场和行业关注旺季白酒消费能否如期回暖时，茅台再次向外界 释放积极信号。"从此次对三地市场调研情况和各方反馈数据来看，随着传统双节临近，8月环比6、7月 份，市场终端动销有所回暖，8月底以来至今终端动销环比增长显著，市场态势有望进一步向好。"这是 茅台管理层过去两周在全国多地调研后得出的判断。 国海证券表示，政策密集出台，有望扭转宏观经济预期并促进食品饮料板块估值和业绩双提升，目前板 块估值仍然较低，基于此我们维持食品饮料行业"推荐"评级。 9月25日，食品饮料ETF ...

Core Insights - Alibaba Cloud emphasizes the importance of creativity over computational power in achieving breakthroughs in the AI era [1] - The company encourages cross-disciplinary collaboration and open communication to foster innovation [1] - AI is seen as a tool to enhance individual capabilities, with significant improvements in efficiency and productivity reported [2][3] Group 1 - Alibaba Cloud founder Wang Jian highlights that many disruptive innovations stem from long-term persistence and "unreliable" explorations [1] - The company advocates for embracing imperfection and encourages entrepreneurs to start with less-than-perfect ideas to stand out [1] - Employees at Alibaba Cloud are encouraged to become their own "large models" through continuous learning and iteration [1] Group 2 - The proportion of Alibaba Cloud's R&D personnel using AI to generate code has increased to 50%, resulting in a 20% efficiency boost [2] - The translation cycle for product documentation has been reduced from 18 days to just 1 day due to AI [2] - The most valuable asset in the AI era remains the individual, characterized by dreams and a willingness to break through limitations [3]