转自：新华财经 新华财经北京12月15日电 近日，上海瀚讯发布2025年度A股定增预案。公司拟发行不超过1.88亿股，募资总额不超过10亿元（含本数）。 近两年，公司的业绩逐步回升，2025年前三季度营收净利润较上年同期均有明显提升，但仍未实现盈利。此外，2022年至2025年前三季度，公司的综合毛利 率持续下降，应收账款总额及总资产占比都相对较高。 拟定增不超过10亿元 控股股东转让5%股权 公开信息显示，上海瀚讯成立于2006年3月，主要从事宽带移动通信系统及通信设备的研发、制造、销售及工程实施，结合业务应用软件、调度软件等配套 产品，向各行业用户提供宽带移动通信系统的整体解决方案。 12月6日，公司发布2025年度A股定增预案，拟向不超过35名（含35名）特定投资者发行不超过约1.88亿股，募资总额不超过10亿元。扣除发行费用后的净额 拟用于大规模无人协同异构神经网络研制及产业化项目、异构专用智能机器人研制及产业化项目、"AI+有无人协同认知决策系统"研发项目。 | | | | 单位: 万元 | | --- | --- | --- | --- | | 序号 | 项目名称 | 项目总投资 | 拟投入募集资 ...

Group 1 - The Ministry of Commerce and other departments are enhancing collaboration between commerce and finance to boost consumption, proposing 11 specific measures including promoting personal consumption loans and reducing penalties for early loan settlements in vehicle trade-in programs [1][7] - The Central Financial Office forecasts that China's economy will reach approximately 140 trillion yuan by 2025, with incremental policies to be introduced based on evolving circumstances [1][7] - Six major state-owned banks have initiated mid-term dividend distributions for 2025, totaling over 200 billion yuan, maintaining a dividend payout ratio of 30% or more of net profit attributable to shareholders [1][7] Group 2 - The marine economy is projected to exceed 10 trillion yuan in gross production value for the first time in 2024, with a year-on-year growth of 5.6% in the first three quarters of this year [1][7] - The passenger vehicle market is expected to grow by 11% in 2025, driven by policy factors, while the commercial vehicle sector is seeing strong growth in new energy vehicles [1][7] - The Shenzhen Stock Exchange announced adjustments to various indices, with the weight of strategic emerging industries in the ChiNext Index reaching 93% and 98% in the ChiNext 50 Index, highlighting the significance of new information technology sectors [1][7]

转自：新华财经 12月12日，工行四川省分行受邀参加成渝地区国家先进制造业集群"强链融圈"暨成渝地区产业合作园区高质量发展推进活动。活动中，该行作"工银惠群"服 务先进制造业集群的专题推介，并发布支持集群发展的创新服务措施及产品。 此外，工行四川省分行还参加了成渝地区电子信息先进制造业集群和成渝地区生物医药先进制造业集群的活动，并作服务方案宣讲和产品推介。 编辑：张震 图为工行四川省分行作重点产品推介 近年来，四川将先进制造业集群培育作为推动产业向中高端迈进、提升产业链供应链韧性、培育经济发展新动能的重要抓手。全省5大国家先进制造业集群 具有技术含量高、配套产业多、资本聚集密、发展前景好等特点，但也存在客群分布广、需求多样化的特征，对银行服务适配性提出更高要求。 经过持续稳健发展，中国工商银行已经建立了"贷+债+股+代+租+顾"的投融资体系，不仅可以做表内贷款，还可以联动海内外分支机构，以及工银理财、工 银金租、工银国际、工银投资、工银安盛等集团子公司为企业提供综合服务。工行四川省分行整合表内外融资资源，充分发挥综合化服务优势，不断帮助企 业提高资金使用效能，截至今年9月末，该行制造业贷款余额已超1200亿元 ...

Core Viewpoint - Shanghai Airport Group's investment enterprise, Shanghai Shangneng Green Aviation Co., Ltd., has developed sustainable aviation fuel (SAF) from carbon dioxide and green hydrogen, meeting SAF standards, which may alleviate the bottleneck in low-carbon transformation for the aviation industry [1] Group 1: Sustainable Aviation Fuel Development - The aviation industry accounts for approximately 99% of its carbon emissions from fuel consumption during flights, making SAF a key technology for reducing carbon emissions [1] - Current mainstream SAF is derived from non-fossil resources like waste oil or biomass, but the recovery of waste oils, including "gutter oil," is insufficient compared to aviation fuel consumption, leading to high prices [1] - The International Air Transport Association projects that by 2025, global SAF production will only account for 0.6% of total aviation fuel consumption, with prices being twice that of fossil aviation fuel, and in some markets, up to five times higher [1] Group 2: Innovative Technology and Cost Reduction - Shangneng Green Aviation's "direct hydrogenation synthesis SAF" technology uses high-performance catalysts to convert carbon dioxide and hydrogen directly into liquid fuel, significantly reducing energy consumption and costs compared to multi-step processes [2] - The project team is developing a prototype that combines this synthesis technology with carbon capture and renewable hydrogen production, aiming to validate the full process of capturing carbon dioxide from the air and converting it into SAF [2] - The process requires approximately 40,000 kWh of electricity to synthesize one ton of SAF, and future cost reductions are expected as renewable energy generation costs decline and processes are optimized [3] Group 3: Strategic Implications - Capturing carbon dioxide from the air to synthesize SAF provides a viable solution for decarbonizing the aviation industry and has multiple strategic significances [3] - The project could leverage abundant wind and solar resources in western China to produce higher-value, more easily transportable liquid energy, enhancing the country's renewable energy industry [3] - Synthesizing liquid fuels can overcome traditional resource and geographic limitations associated with fossil fuel extraction, utilizing China's manufacturing advantages to ensure energy supply security [3]

Core Viewpoint - Geely Automobile is nearing the completion of its major integration, with over 70% of Zeekr shareholders opting for stock exchange, indicating strong market confidence in the long-term value of the integrated company [1][2]. Group 1: Transaction Details - Each share of Zeekr can be exchanged for $2.687 in cash or 1.23 shares of Geely, while each American Depositary Share can be exchanged for $26.87 in cash or 12.3 shares of Geely [2]. - Approximately 70.8% of eligible Zeekr shareholders chose stock compensation, leading to the issuance of 777 million shares by Geely [2]. - The cash compensation option was selected by about 29.2% of eligible shareholders, resulting in a total cash payment of approximately $701 million by Geely [2]. Group 2: Strategic Significance - The merger allows Geely to cover mainstream, mid-to-high-end, and luxury segments, establishing a diverse power system that includes fuel, pure electric, plug-in hybrid, and hydrogen electric vehicles [3]. - The strategic merger is expected to enhance technological synergies, with Zeekr's advanced technologies benefiting Geely's other brands, thereby increasing product competitiveness [3]. - The integration is projected to conclude by December 29, 2025, with anticipated benefits in market coverage, profitability, and resource synergy [3]. Group 3: Financial Performance - Following the merger, Geely is expected to accelerate its high-end upgrade, potentially increasing gross margins and per-vehicle profits, particularly with strong performance from high-end models [4]. - Geely's gross margin for Q3 was 16.6%, up 0.2 percentage points from the previous half, with core net profit per vehicle rising to 5,200 yuan, an increase of 500 yuan [4]. Group 4: Operational Efficiency - The integration aims to optimize resource utilization and enhance operational efficiency, with management expenses decreasing to 1.8% and R&D expenses to 6.1% by Q3 2025 [5]. - Geely's cumulative sales reached 2.7878 million units by November 2025, a 42% year-on-year increase, indicating strong sales momentum [5]. Group 5: AI Integration - Geely is advancing its integration of AI technology across various domains, launching the industry's first "full-domain AI" technology system for smart vehicles [7]. - The company has established a "Smart Car Computing Alliance" to enhance computing power, with a total computing capacity exceeding 23.5 EFLOPS [7]. - Geely has accumulated 10 terabytes of token data and 40 billion automotive vertical data, supporting its AI initiatives [7]. Group 6: Future Outlook - Geely aims to transform into a leading robotics company, with each vehicle serving as a connection point to the AI universe [9].

Core Viewpoint - The article discusses the innovative "whole county credit granting" model implemented by Xintai City, which aims to activate the value of credit data to address financing difficulties and costs in traditional lending practices [2][5]. Group 1: Credit Data Activation - Xintai City focuses on activating the value of credit data to transform it from a "sleeping resource" into a "development momentum" [2]. - The city has identified key tasks for credit data application, including "precise profiling, marketing customer acquisition, and batch credit granting" to support scientific decision-making for whole county credit granting [2]. Group 2: Technological Integration - The city employs advanced technologies such as privacy-preserving computation, artificial intelligence, and machine learning to innovate the integration of the banking credit system with the public credit information platform [2]. - A credit big data innovation laboratory was established in collaboration with China Construction Bank, marking a significant achievement in utilizing privacy computing for credit assessment [3]. Group 3: Financial Impact - The "Yunong Quick Loan" product has facilitated significant financial interactions, with 1.4 billion yuan in loans granted to 169 trustworthy farmers through 15,500 interactions with the public credit information platform [3]. - The local credit system has evaluated 589 credit villages and provided credit to 116,000 households, with a total credit amount nearing 1 billion yuan [5]. Group 4: Future Development - Xintai City plans to further expand credit application scenarios and deepen market-oriented reforms of data elements, aiming to provide a replicable model for national social credit system construction and digital financial development [5].

Core Viewpoint - BOE Technology Group has established itself as a leader in the display industry, with one in every four display screens globally produced by the company, reflecting its dedication and expertise over the past thirty years [1] Company Insights - The chairman of BOE, Chen Yanshun, expressed a deep emotional connection to the company's products and services, highlighting the integral role they play in people's lives [1] - BOE's commitment to the display sector is seen as a significant contribution to both the Chinese display industry and the global visual revolution [1] Industry Context - The display technology sector is experiencing rapid advancements, and BOE's ongoing focus is expected to yield substantial benefits for the industry as a whole [1]

Core Insights - The 2025 Industrial Operating System Conference emphasizes the strategic importance of industrial operating systems as the core of industrial production and the soul of intelligent manufacturing, focusing on collaborative innovation and ecosystem building [1][6] - The conference highlights the rapid development of new-generation artificial intelligence technologies and the accelerated integration of IT and OT, pushing industrial operating systems towards a new phase of networking, openness, and intelligence [1] Group 1: Conference Highlights - The conference gathered key players from the entire industrial operating system ecosystem, including government, industry, academia, and research, to discuss the development path during the "14th Five-Year Plan" period [1][6] - Multiple sub-forums were set up to explore new trends, challenges, and achievements in the industry, aiming for high-quality development through demand-driven, technology-driven, and collaborative ecosystem approaches [2][1] Group 2: Key Discussions and Innovations - Experts discussed the integration of innovative technologies such as embodied intelligence and AI large models with industrial operating systems, addressing common challenges and building consensus for development [2] - The conference featured practical sharing on the development direction and trends of industrial operating systems under the backdrop of artificial intelligence, with contributions from leading companies in various sectors [2] Group 3: New Platforms and Initiatives - The conference announced the establishment of several collaborative innovation platforms, including a national industrial operating system testing and certification service platform, aimed at ensuring the safety of critical infrastructure in key industries [3] - The Open Atom Purple Gold Zone headquarters will focus on key areas like RISC-V and industrial software, fostering impactful open-source technology outcomes [3] Group 4: Regional Development and Industry Growth - The Wuzhong District is focusing on developing a "robotics + artificial intelligence" industry cluster, promoting the rapid development of core areas such as industrial control systems and AI models [5] - The district has established significant platforms and funds to support the integration of industrial software and manufacturing scenarios, enhancing collaboration among leading enterprises and research institutions [5]

转自：新华财经 新华财经上海12月12日电（记者 王淑娟）人口老龄化已成为我国基本国情，也是推进中国式现代化进 程中必须直面的重大战略课题。自2023年中央金融工作会议首次将养老金融列为金融"五篇大文章"之一 以来，政策密集落地、市场加速布局，养老金融正迈入高质量发展的新周期。 作为上海金融旗舰企业，浦发银行副行长、董事会秘书张健近日接受新华财经专访时表示，面对银发经 济浪潮，浦发银行以"金融为民"初心为引领，推动养老金融服务从"单一保障"向"生态共建"转化跃迁， 力争成为养老金融领域的"领航者"。 政策领航：养老金融迎来历史性机遇 我国65岁及以上人口占比已达15.6%，预计到2035年将进入重度老龄化社会。张健指出，伴随老龄人口 规模扩大与结构变化，中青年"提前备老"意识觉醒，叠加政策红利持续释放，养老金融正迎来前所未有 的发展机遇。 张健表示，当前国家养老金融战略布局聚焦三大方向：一是推动基本养老、企业年金、个人养老金"三 支柱"协同发展，尤其是通过个人养老金制度激活市场化储备需求；二是强化对银发经济的金融支撑， 如专项再贷款、税收优惠、养老REITs等工具引导资源精准滴灌；三是聚焦老年群体真实需求，推 ...

Group 1 - The Ministry of Industry and Information Technology is organizing the compilation of the "Metaverse Industry Comprehensive Standardization System Construction Guide (2026 Edition)" to establish a standard system supporting the innovative development of the metaverse industry by 2028 [2] - The China Photovoltaic Industry Association announced the establishment of a "polysilicon production capacity integration acquisition platform," marking a significant development in the photovoltaic industry [2] - The Ministry of Industry and Information Technology and the People's Bank of China issued a notice to enhance green finance policies to support the construction of green factories, promoting financial institutions to develop financial products for green manufacturing [2] Group 2 - The China Securities Regulatory Commission announced administrative penalties against Zhejiang Youce Investment Management Co., imposing fines totaling 21 million yuan and banning the actual controller from the securities market for life, marking a significant enforcement action in private equity regulation [1] - The National Market Supervision Administration released a draft guideline for compliance in the automotive industry, emphasizing the need for a pricing strategy based on production costs and market demand [1] - The China Securities Investment Fund Industry Association is seeking industry opinions on a draft regulation to standardize public fund sales behavior, aiming to protect investors' rights [1]