本报讯 （记者吕东）2025年6月份，普惠金融—景气指数达49.03点，较5月份上升0.07点，融资端延续回暖，金融对实体经 济的支持力度依然稳固；经营端小微企业压力仍存，活力指数微涨，企业发展信心向好。 分维度来看，2025年6月份，融资景气度指数为54.47点，环比上升0.53点。随着一揽子稳就业稳经济政策措施逐步落地， 社会预期有所改善，带动有效信贷需求释放，季节性消费需求集中释放也对信贷形成支撑。贷款利率继续在低位运行。 6月份，经营景气度指数为47.96点，较5月份微降0.04点。分项指数中，小微企业经营绩效指数下降0.23点。另外，分项指 数中小微企业经营活力指数上升0.06点，显示企业发展信心向好。 分行业来看，6月份，九大行业经营景气度指数呈4升5降的趋势。其中，批发零售业、信息服务业、房地产业、社会服务 业经营景气度呈回暖趋势。受益于年中促销和消费刺激政策等因素的影响，批发零售、社会服务活动更加活跃。信息服务业从 1月份至今基本保持稳中有升态势。农林牧渔业、工业、建筑业、交通运输业、住宿餐饮业经营景气度有所下降。 分区域来看，七大区域经营景气度指数呈现3升4降的趋势。其中，华北、华中和西南地 ...

Core Viewpoint - The issuance of A-shares by Shandong Huangan Energy Group aims to raise up to 718 million yuan, primarily to enhance liquidity and repay bank loans, reflecting confidence in the long-term value of the kitchen waste treatment and renewable energy industry [1][2]. Group 1: Fundraising and Corporate Strategy - The A-share issuance will be fully subscribed by the major shareholder, Shandong High-speed Industrial Investment Co., which will improve the company's financial strength and reduce financial risks [2][3]. - The funds raised will be used entirely for working capital and repaying bank loans, supporting the company's main business operations without significant changes to its business scope [2]. Group 2: Industry Growth and Market Position - The company specializes in the treatment of kitchen organic waste and the resource utilization of waste cooking oil, with a significant presence in nearly 20 major cities in China [2]. - The kitchen waste disposal market in China is expected to grow rapidly in the coming years due to the establishment of a waste classification system, presenting development opportunities for the company [2]. Group 3: Performance and Market Trends - The company anticipates a substantial increase in net profit for the first half of 2025, projecting a profit of 40 to 45 million yuan, a significant turnaround from previous losses [4]. - The increase in performance is attributed to cost reduction efforts, increased waste collection and processing volumes, and rising market prices for industrial-grade mixed oil due to EU sustainable aviation fuel policies [4][5]. - The demand for used cooking oil (UCO) is expected to surge, driven by international and domestic aviation fuel policies, indicating a robust market outlook for the company [5].

本报讯(记者王宁)在甘肃省静宁县，苹果产业是富民强县的支柱产业，历经郑州商品交易所(以下简 称"郑商所")、静宁县政府与银河期货有限公司(以下简称"银河期货")八年精心培育，静宁县苹果"保险 +期货"项目已成为果农抵御风险、稳定增收的坚实保障，迈入高质量发展新阶段。 项目发展更驱动产业升级。苹果期货的价格发现功能增强了果农议价权，期货交割标准促进静宁苹果在 种植、分选、储藏等环节标准化水平跃升。参考期货标准种苹果，已成为龙头企业和果农的广泛共识。 静宁县委副书记王悉润表示，静宁县始终立足苹果产业发展实际，依托资本市场优势，积极对接郑商 所、银河期货等金融机构，深入开展金融赋能特色产业行动，"金融+产业"模式在运行实践中不断优化 完善。下一步将抢抓国家特色优势产业集群创建等政策机遇，全力推动产业全链条高质量发展，打 造"保险+期货"精品惠民工程。 日前，银河期货党委书记、董事长、总经理王东在出席甘肃省静宁县2025年苹果"保险+期货"项目启动 会上表示："银河期货与静宁县同责共担、同频共振、同向发力，坚定不移探索'因地制宜、特色主导、 金融赋能、产业振兴'之路。"未来，将持续深化"保险+期货+N"模式，完善风险 ...

本报讯(记者彭衍菘)7月18日，第九届AI&FOF投资创新发展论坛在上海圆满落幕。这场盛会汇聚了FOF 投资、量化投资、券商资管、公募基金、期货资管等多领域专业人士，深入探讨了AI时代下FOF与量化 投资的创新发展新机遇。 深圳市前海排排网基金销售有限责任公司总经理林丽在开幕致辞中，对国内私募证券行业的发展现状展 开了深入剖析。林丽表示，上半年私募行业优胜劣汰已逐步显现，但整体赚钱效应良好，证券类私募基 金规模维持5万亿元以上，年底有望重回6万亿元。此外在AI快速发展下，头部机构已开展了全面的AI 投入和布局，未来将会赋能多类投研场景，有望为投资者带来超额回报。 世纪证券总经理李剑铭在论坛致辞中，深入阐述了券商在私募证券行业发展中的关键作用。李剑铭表 示，世纪证券致力于打造以综合金融服务为特色的粤港澳大湾区一流券商。李剑铭介绍道，公司业务经 营稳定，屡获行业权威奖项，取得了突出的发展成果。目前，世纪证券形成了具有自身特色的业务体 系，不断开拓创新，以满足客户多样化的金融需求。在谈到未来发展时，李剑铭表示："希望通过今天 的论坛，世纪证券能与现场更多的投资机构建立联系，共同创造合作机会。" 量化投资和FOF投资 ...

本报讯 （记者李万晨曦） 公司董事长杨代常此前介绍，重组人白蛋白是公司研发的首个产品，利用水稻胚乳细胞表达，经提取、纯化的重组人血清 白蛋白产品，被业界称为"稻米造血"。 目前，禾元生物第三代技术平台已实现20至30g/kg糙米人白蛋白表达量水平，突破了重组人白蛋白药物的底层关键核心技 术，具有高产量、工艺简单、低成本、易实现规模化生产等优势，在技术上实现了从"0到1"的突破。随着这一药品正式上市， 有望解决我国人血清白蛋白长期依赖进口的局面。 产能方面，武汉市人民政府官网显示，今年4月，禾元生物重组人血清白蛋白产业化基地项目主体结构顺利封顶，该项目 建成后，可年产1200万支重组人血清白蛋白注射液，预计8月30日实现通水、通电、通气，力争2026年二季度投产。 对于HY1001的市场空间，禾元生物在第二轮审核问询函中提到，人血清白蛋白药品由于其巨大的临床需求缺口，是我国 目前血液制品中唯一允许进口的品类，且约60%依赖进口，存在较大的进口替代需求。公司预计2026年HY1001销售收入将达 到4.44亿元，2030年HY1001销售收入将达到15.67亿元。HY1001产品预计市场空间大。 （编辑 张伟） ...

Core Insights - The China Disaster Prevention Association has launched a specialized training program for "house inspectors" and established a standard evaluation system for inspection agencies, responding to policy calls and aiming to supply standardized technical talent to the industry [1][2] - The training program includes a standardized curriculum covering the entire house inspection process, integrating AI technology and digital twin applications, addressing the growing demand for house inspections as urbanization rates exceed 70% in China [1][2] Market Demand and Opportunities - The demand for house inspections is expected to experience explosive growth, with the market size projected to exceed 100 billion yuan in the next five years, covering various sectors such as property inspection, property management, renovation, and engineering testing [1] - The training program targets 12 categories of professionals, enhancing their capabilities in material assessment, structural diagnosis, and equipment evaluation, with a projected shortage of over 500,000 house inspector positions in the next five years, indicating a broad career development outlook [2] Industry Impact - The training initiative not only fills the talent gap in the industry but also promotes a "detection-diagnosis-governance" closed loop for house health management, closely linked to urban renewal efforts [2] - The concept of "inspection first, then renewal; no inspection, no renewal" has become a key consensus in the urban renewal sector, with professional inspections providing critical insights for subsequent renovation and remediation efforts [2]

Core Insights - Huayou Cobalt Industry has established a strong position in the cylindrical battery market, with its subsidiary Bamo Technology accounting for nearly 40% of the company's total sales of cathode materials, widely used in renowned domestic and international electric vehicle brands [1][4] - The demand for large cylindrical batteries is expected to reach a scale of 100 GWh globally this year, with a projected growth of four to five times by 2030 compared to 2025 [1][5] - Huayou Cobalt Industry leverages its full industry chain advantages and technological innovations to define new industry standards for large cylindrical battery materials [1][2] Industry Positioning - The company has built an integrated industry chain from cobalt and nickel resource development, smelting processing to ternary cathode material manufacturing, providing stable and high-quality raw material guarantees for Bamo Technology [2][4] - Huayou Cobalt Industry's full industry chain layout acts as a protective barrier against raw material price fluctuations and supply chain instability, ensuring the continuous and stable mass production of high-nickel ternary cathode materials [2][3] Technological Advancements - Bamo Technology has achieved a breakthrough in the mass production of ultra-high nickel ternary cathode materials, enhancing electric vehicle range by 30 to 40 kilometers [3][5] - The company has continuously innovated in the high nickel and high voltage technology routes, establishing itself as a benchmark for technological iteration in the industry [3][5] Global Collaboration - Bamo Technology has entered the global core supply chain of power batteries through collaborations with top partners, including a six-year supply agreement with LG Energy Solution for 8 GWh of large cylindrical batteries [1][4] - The company is advancing its Hungarian factory to enhance local supply capabilities for the European new energy industry, further solidifying its global customer ecosystem [4][5] Market Outlook - The market for large cylindrical batteries is expected to reach a scale of hundreds of billions by 2030, with Huayou Cobalt Industry focusing on product high-end and international operations to secure future growth [5] - The company's strategic focus on technological breakthroughs in large cylindrical battery materials aims to meet the industry's ongoing demand for high capacity, high rate, low cost, and high safety [5]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has released the "Guidance on the Application of Regulatory Rules - Accounting Category No. 5" to enhance the quality of accounting information disclosure in the capital market [1][2] Group 1: Regulatory Context - The CSRC aims to improve the accounting regulatory framework to address recent accounting practice issues raised by the market [1] - Accurate understanding and effective execution of accounting standards are crucial for enhancing the quality of accounting information disclosure [1] Group 2: Specific Issues Addressed - "Accounting Category No. 5" covers eight specific issues, including revenue, financial instruments, and long-term equity investments [2] - Each specific guideline includes three parts: background of the transaction, relevant accounting standards, and opinions or regulatory guidance on the applicable accounting standards [2] Group 3: Future Monitoring - The CSRC will closely monitor the implementation of "Accounting Category No. 5" and guide various operating entities to appropriately execute accounting standards to improve the quality of accounting information disclosure [2]

Core Insights - PepsiCo reported Q2 2025 net sales of $22.726 billion and operating profit of $1.789 billion, with stable growth in market share for its food and beverage business in China [1] - The company is focusing on innovation driven by consumer demand for healthier snack options, emphasizing low sugar, low calorie, and high-quality ingredients [1] - PepsiCo is enhancing its local supply chain, with a new food factory in Xi'an, Shaanxi, expected to be operational by Q3 2025 [1] International Expansion - PepsiCo is exporting its "China experience" to other markets, including the implementation of green technology practices from its Wuhan factory to its operations in Thailand [2] - The company aims to continue expanding its international business and improve performance in the North American market, projecting low single-digit organic revenue growth for FY 2025 [2] - The outlook for core dollar earnings per share has improved due to a weaker dollar, reducing foreign exchange headwinds [2]

除了紧急就医，该境外旅行险还可以为用户提供医疗转运、医疗送返、紧急返回居住国、安排未成年子女回国等等一站式 服务，覆盖全球226个国家和地区，链接了60多万家医疗健康服务机构，通过住院垫付和就医运转两大服务，帮助被保人获得 及时治疗、缓解在异国他乡的不便，并全程陪伴返回居住地国家。 （编辑 郭之宸） 该产品除了包含一般意外身故/伤残责任、境外火车和轮船等公共交通意外责任，其主要亮点是覆盖意外受伤和疾病导致 的紧急就医需求，且无免赔额，保险责任内100%赔付，最高保额100万元。在投保便捷性方面，"平安境外旅行险"适用腾讯微 保的"群投保"工具，用户为家庭、朋友等群体投保节省时间的同时，也便于后续保单管理。 本报讯 （记者冷翠华）微民保险代理有限公司打造的保险代理平台——腾讯微保近日携手平安产险发布"平安境外旅行 险"。该产品涵盖意外、医疗和安全服务等30多项保障责任，贯穿行前、行中和行后各类风险场景，救援网络覆盖全球多个国 家和地区，采用零免赔额设计，门诊/住院最高100万元保额。 上述"平安境外旅行险"，面向境外旅游人士、留学生等提供"先救后赔"式服务，保障责任涵盖从航班延误到自然灾害，从 紧急医疗到危机救 ...