Core Viewpoint - The Henan Rural Commercial Bank is advancing its reform by officially absorbing and merging 82 institutions, including rural commercial banks and village banks from nine cities, following a previous merger of 25 institutions earlier this year [2][4]. Group 1: Merger Details - The recent merger includes 78 rural commercial banks and 4 village banks, with the original institutions becoming branches of the Henan Rural Commercial Bank [4]. - After the completion of this merger, there will still be 34 rural commercial banks awaiting reform within the system [4]. - The bank's structure will consist of one provincial-level rural commercial bank and 112 city and county rural commercial banks by March 2025 [3][4]. Group 2: Reform Strategy - The reform strategy involves a phased and incremental approach to merging institutions, which is not unique to Henan, as similar strategies are being adopted in other provinces like Jilin [4][5]. - This approach allows for the gradual absorption of high-risk institutions, helping to prevent issues from spreading throughout the financial system [5]. Group 3: Asset Management Companies (AMCs) Involvement - Prior to the merger, local AMCs have been actively involved in the disposal of non-performing assets, with significant purchases made from various rural commercial banks [6][7]. - The total investment by local AMCs in acquiring non-performing assets amounts to 50.69 billion yuan [6]. - The involvement of AMCs is seen as beneficial for the merged institutions, allowing them to shed historical burdens and facilitating a smoother integration into the new banking structure [7][8].

本报（chinatimes.net.cn）记者李明会 北京报道 信用卡用户精细化运营时代要来了。 某股份行日前发布公告称，拟对信用卡透支利率收取标准由"日利率万分之三点五至万分之五"调整 为"日利率0%-0.05%，按照单利算法近似折算年利率为0%-18.25%"，该调整将于9月29日起生效。 《华夏时报》记者注意到，这也是业内第一次有银行公开发布声明，打破"日利率万分之三点五至万分 之五"这一上下限范围，并且下限在被打破的同时，日利率更是低至0，这或意味着优质信用卡客户无需 为透支利息买单。 9月28日，该行客服对《华夏时报》记者表示，具体透支利率如何定价由系统根据客户情况综合评 定。"如果您希望降低透支利率，建议您多使用我行信用卡并按时还款，保持良好的信用记录。" 探索差异化市场定价 "信用卡透支利率可以出现完全的差异化市场定价，成为中国信用卡产业发展三十多年来对透支利率市 场化的一次重大变革，一定程度上为信用卡业务实现了松绑。"资深信用卡专家董峥在接受《华夏时 报》采访时表示，不过，在随后的业务实践中，落实这一政策的发卡银行并不多，并没有在业内形成热 潮。 直至今年8月29日，央行发布公告，拟对《电子支 ...

本报（chinatimes.net.cn）记者赵奕 上海报道 过去一周，以比特币为首的数字资产经历了集体下跌。与此同时，数字资产财库公司（Digital Asset Treasury Companies，下称"DAT"）作为一种新兴的企业财务管理模式也在经历挑战。 自MicroStrategy（现更名为Strategy）率先将比特币纳入资产负债表以来，数字资产财库成为美股市场 新兴"金融炼金术"，众多公司因模拟Strategy模式，股价暴涨数十倍。但好景不长，大部分DAT公司的 股价均在近期遭遇暴跌，其中，Kindly MD与Helius Medical等公司股价跌超90%。与此同时，DAT模式 下资产泡沫、内幕交易等质疑声层出不穷，已经引起美国证券交易委员会（SEC）等监管机构的注意， 并在近日开启调查。 美股综合医疗服务商KindlyMD在与数字资产公司Nakamoto Holdings合并后，专注于打造比特币财库平 台，其股价已从高点跌超90%，如今只剩不到1.5美元。 日本上市公司Metaplanet的股价也较今年达到的历史高点下跌超70%。 对此，香港注册数字资产分析师学会董事、香港Uweb商学院校 ...

Core Insights - The value of medical AI lies not just in technical parameters but in its integration into clinical scenarios to solve real problems, as stated by JD Health CEO Jin Enlin during the JD Global Technology Explorers Conference [2] - JD Health announced the upgrade of its medical model "Jingyi Qianxun 2.0" and the launch of "AI Hospital 1.0," highlighting the deep integration of AI with various industries and the importance of high-quality data [2][3] Company Developments - The Jingyi Qianxun model, launched in 2023 and upgraded to version 2.0 in June, is the first medical model capable of understanding medical reports and patient descriptions, aiming to approach human clinical cognition [3] - JD Health's AI Hospital 1.0, launched on September 25, features over a thousand expert doctor AI agents and provides comprehensive services from diagnosis to medication [3][4] - Since its independence from JD Group in 2019, JD Health has seen significant growth, with total revenue of 35.3 billion yuan in the first half of 2023, a 24.5% year-on-year increase, and a net profit of 3.57 billion yuan, up 35% [4] Industry Trends - The rapid deployment of large models in various vertical industries, including healthcare, is exemplified by JD's initiatives, which also extend to logistics, industrial, and e-commerce sectors [5] - Data quality is crucial for the success of large models, with JD focusing on enhancing data quality through rigorous selection processes and addressing challenges related to fragmented and high-privacy data in the B2B market [6] - The integration of AI in healthcare is part of a broader trend where industries are leveraging advanced models to improve efficiency and service delivery [5][6]

华夏时报记者刘昱汝徐芸茜北京报道 日前，国资委主任张玉卓主持召开部分国有企业经济运行座谈会，了解企业经济运行情况、面临的困难挑战。会议聚焦稳电价、稳煤价、防止"内卷式"恶 性竞争等核心议题，听取企业意见建议，旨在进一步研究夯实企业高质量发展基础的政策举措。 张玉卓在会上强调，要带头坚决抵制"内卷式"竞争，坚定走差异化发展和品牌竞争路线，强化行业自律，引导行业健康、良性、可持续发展，构建竞合并 存、开放共享的产业生态。此次会议释放出国资委引导国有企业特别是能源类国企稳价保供、抵制恶性竞争、推动高质量发展的明确信号。 稳煤价、稳电价 今年7月，中央财经委员会和政治局会议进一步明确，要依法依规治理企业低价无序竞争，推动落后产能退出。这意味着，"反内卷"已经不仅是口号，而 是有了具体的治理抓手。 "今年煤炭市场价格大幅回落，在行业利润大幅下降背景下，东部老矿区部分煤炭企业亏损严重，需引起高度重视。"中国煤炭工业协会党委委员张宏在7 月的2025年夏季全国煤炭交易会上表示。 而在4月2日发布的《中共中央办公厅，国务院办公厅关于完善价格治理机制的意见》中，也有多项内容关注完善煤炭价格。其中，在深化价格市场化改革 方面，提 ...

本报（chinatimes.net.cn）记者于娜 见习记者 赵文娟 北京报道 近日，圣诺医药宣布与华熙生物科技（香港）有限公司等四家投资者签订认购协议，以每股12港元的价 格配售约1735.24万股新股。此次配售股份数量相当于公司当前已发行股本约16.50%，配发完成后预计 占总股本约14.16%。 参与本次认购的投资者包括华熙生物科技（香港）有限公司（华熙生物全资子公司）、谢硕豪、 BambooBloomLimited及CapstoneResourcesHoldingLimited。配售价较圣诺医药9月5日收盘价14.97港元/ 股折让约19.84%。通过此次配股，圣诺医药预计可募集资金总额约2.08亿港元，净额约2.06亿港元。此 次交易完成后，股权结构将发生显著变化。华熙生物科技的持股比例将达到9.44%，正式成为圣诺医药 的第二大股东。 圣诺医药的商业化难题：资金短缺+未盈利 作为中国核酸药物领域的先行者，圣诺医药自2007年成立，于2021年登陆港交所，享有"中国核酸药物 第一股"之称。公司核心聚焦于RNAi技术的新药研发，其核心候选药物STP705是一种针对两种肿瘤适 应症的多靶点siRNA疗法 ...

Core Viewpoint - The legal dispute between Medisi (688202.SH) and its former client Hongxu Biotech involves a significant compensation claim of approximately 159 million yuan, which is about 30 times the service contract amount, raising concerns in the capital market [2][3][4]. Group 1: Background of the Dispute - The dispute traces back to December 18, 2020, when Medisi signed a technical service contract with Hongxu Biotech to conduct non-clinical safety evaluations for a biopharmaceutical project [3][4]. - The project, named "HX-100101-1 injection," aims to treat type 2 diabetes and is part of a highly competitive market with major players like Eli Lilly and domestic companies such as Hengrui Medicine and Innovent Biologics [3][4]. Group 2: Claims and Counterclaims - Hongxu Biotech claims that Medisi failed to deliver the required safety evaluation reports on time, leading to delays in obtaining clinical trial approvals from both the National Medical Products Administration (NMPA) and the FDA [4][5]. - Medisi asserts that it fulfilled its contractual obligations and that the delays were primarily due to Hongxu Biotech's late delivery of samples and other external factors, including the COVID-19 pandemic [5][6]. Group 3: Legal Proceedings and Market Reactions - The lawsuit was filed in July 2023, and the court has frozen Medisi's bank accounts as part of the asset preservation measures [4][5]. - The case has attracted significant attention in the market, as it raises questions about the collaboration models and contractual obligations within the Chinese innovative drug development industry [8].

本报（chinatimes.net.cn）记者王晓慧 贵港报道 作为珠江－西江经济带的"内河明珠"，广西贵港正经历着从传统农业地区向现代化产业新城的历史性跨 越，在此进程中，贵港残联从未将残疾人事业割裂于地方发展之外，始终让其与城市发展同频共振。 据记者了解，"十四五"以来，贵港残联始终聚焦残疾人急难愁盼需求，以"精准服务"为核心，在就业创 业、医疗康复、教育文体三大领域持续发力，通过政策护航、资金保障、服务提质为支撑，推动残疾人 事业提质增效，残疾人群众获得感、幸福感显著提升。 这座承载着2200年文明记忆的城市，正以地方特色为笔、以民生温度为墨，把残疾人事业深深融入城市 发展的时代答卷。 "模式创新+技能赋能"破解就业难题 作为一座兼具历史底蕴与现代活力的地级市，贵港以体系化施策与特色化路径破解残疾人就业创业难 题，过程充满着传统与新潮的碰撞、普惠与特色的交织、稳定与成长的机遇。 在模式创新上，贵港残联深耕"互联网+残健融合"发展路径，以数字技术为纽带，打破残健就业壁垒， 构建起适配残疾人群体需求的协同就业新模式。 此外，为了助力残疾人就业创业提质增效，贵港残联将技术赋能与岗位对接形成闭环。实施"阳光助残 ...

Core Viewpoint - Despite the removal of the "special treatment" label last year, Wanlin Logistics (603117.SH) continues to face significant challenges in obtaining bank credit, which has impacted its strategic operations and trade agency business [2][4]. Group 1: Bank Credit Issues - Wanlin Logistics has experienced a suspension of bank credit for over three years, severely limiting its trade agency operations [3][4]. - The company reported that its credit limit from local banks exceeded 1 billion yuan in 2021, but this credit has been largely halted since then, with only a 10 million yuan credit line currently available [4][5]. - The local government has acknowledged the credit issues and is working to facilitate communication between banks and the company [5][6]. Group 2: Business Operations and Strategy - The company aims to optimize its port loading and unloading operations and enhance overall operational efficiency while gradually restoring and expanding its trade agency business [6]. - Wanlin Logistics has seen a significant decline in trade agency revenue, dropping from approximately 6.89 million yuan in 2021 to 242,200 yuan in 2024 [4]. - The company is exploring alternative financing channels and has made some progress in obtaining credit from banks outside of Jiangsu province [5][6].

Core Viewpoint - The article discusses the innovative approach of utilizing real estate trusts to activate idle assets, moving beyond traditional methods of sale and lease, with the successful registration of the first real estate trust project in Tianjin, "Tianjin Real Estate No. 1" [2][3]. Group 1: Real Estate Trusts - The "Tianjin Real Estate No. 1" project involves a partnership between Hongtai Real Estate and Northern International Trust, focusing on a commercial property valued at 3 million yuan [2][3]. - The trust structure allows for the continuous operation and management of the property by a third-party professional institution, generating ongoing revenue for the asset owner [3][5]. - The Tianjin pilot program marks a significant breakthrough in the real estate trust sector, emphasizing the activation of existing assets as a core application scenario [4][6]. Group 2: Policy and Implementation - The Tianjin pilot program introduces a differentiated innovation in institutional design, allowing for both existing and newly purchased properties to be included in trusts [4][5]. - The program aims to enhance operational efficiency and asset structure optimization while addressing both corporate and individual beneficiary needs [4][6]. - A standardized and scenario-based registration system for real estate trust assets has been established, ensuring clear responsibilities and effective execution [5][6]. Group 3: Market Outlook - Despite the initiation of pilot programs in several cities, the overall real estate trust business remains in a "policy heat, market cold" phase, with limited large-scale activation of real estate assets [7][8]. - Industry experts suggest that the development of real estate trusts is closely tied to the economic environment, requiring both policy guidance and market response for scalable growth [9]. - The future of real estate trusts is seen as promising, with expectations of significant growth in the next 3-5 years as policies and market conditions improve [9][10].