记者查阅此前公告发现，德力股份于10月15日宣布拟引入具有国资背景的新疆兵新建合伙作为新控股股 东，距离本次临场换"人"间隔了两个多月。公司给出的终止理由是双方"未能就上市公司未来合作发展 具体规划形成一致意见"。 公告显示，翼元航空成立于本次收购协议的签署日、披露控制权变更公告日。其实际控制人王天重、徐 庆华旗下核心资产为辽宁华天航空科技股份有限公司，目前正处于上市辅导阶段。本次收购引发了市场 关于该公司拟借壳上市的猜测。 【深圳商报讯】(记者詹钰叶)德力股份（002571）12月23日晚宣布，其控制权受让方由原计划的新疆兵 新建高新技术产业投资运营合伙企业(有限合伙)变更为辽宁翼元航空科技有限公司(即翼元航空)；原实 控人施卫东放弃全部表决权。公司宣布取消原定于本月底举行的股东会，拟于下月重新召开股东会。 根据公告，德力股份控制权受让方突发变更，原计划引入的新疆兵新建高新技术产业投资运营合伙企业 (有限合伙)被替换为12月23日新成立的翼元航空。根据定增方案，德力股份将向其发行不超过1.18亿 股，发行价7.53元/股。在23日涨停后，24日公司股价跌6.08%，收于10.35元，较收购价折价近三成。交 ...

Core Viewpoint - The listing of Impression Da Hong Pao on the Hong Kong Stock Exchange reflects market concerns over its reliance on a single project, leading to a significant drop in stock price and highlighting the challenges faced by the cultural tourism performance industry [3][4]. Company Overview - Impression Da Hong Pao is a state-owned cultural tourism service company based in Wuyi Mountain, Fujian Province, with a significant reliance on the single performance project "Impression Da Hong Pao" for over 90% of its revenue [4]. - The company's financial performance has shown significant volatility, with revenues projected to be 63.04 million yuan in 2022, 144 million yuan in 2023, and a decline to 137 million yuan in 2024, alongside net profits fluctuating from losses to modest gains [4]. Market Dynamics - The cultural tourism performance industry in China is characterized by intense competition, with the top ten market players holding only 26.3% of the market share, leading to growth pressures for all companies involved [7]. - Major players like Songcheng Performance and Lijiang Co. have reported declines in revenue and profit margins, indicating a broader trend of financial strain across the industry [7][8]. Industry Challenges - The industry faces high operational costs and significant investment requirements, with individual projects often costing between 500 million to 1 billion yuan, which increases financial risk [8][9]. - The market is experiencing a cautious investment climate, with capital becoming more selective due to the high-risk nature of cultural tourism projects and the prevalence of price wars [9]. Market Potential and Innovations - Despite current challenges, the cultural tourism performance market is projected to grow significantly, with ticket sales reaching 16.39 billion yuan in the first nine months of the year, matching last year's total [10]. - The market size is expected to increase from 4 billion yuan in 2020 to 32.8 billion yuan by 2024, with a compound annual growth rate of 68.8% [10]. Strategic Directions - Companies are encouraged to enhance quality and attract more customers by shifting focus from merely selling tickets to providing unique experiences and emotional value [11]. - Successful examples include projects that leverage technology and local culture to create immersive experiences, indicating a trend towards innovation in the industry [12].

Group 1 - The core objective of the Huangjiu industry is to transform Huangjiu from a "drink of the older generation" to a "trendy drink for young people" [2] - The appointment of 90s-born Zhang Leiguang as the secretary of the board at Guyue Longshan has sparked discussions, with some investors skeptical about whether a younger executive can attract young consumers [2][3] - Guyue Longshan's revenue for the first three quarters of 2025 was 1.186 billion yuan, a decrease of 8.10% year-on-year, while its net profit only grew by 0.17% to 135 million yuan [3] Group 2 - Guyue Longshan has launched innovative products like coffee Huangjiu and bubble ice sculpture, targeting young consumers' preferences for novelty and social drinking [4] - The "Wugao Di" product has sold over 3.3 million bottles and topped the Douyin sales charts, indicating a positive reception among young consumers [4][5] - However, consumer feedback on the "Wugao Di" product is polarized, with some praising its quality while others find it unpalatable [5] Group 3 - Competitor Kuaijishan has successfully marketed its sparkling Huangjiu, achieving sales of 50 million yuan during the 618 shopping festival and implementing a dual strategy of high-end and youth-oriented products [6] - Kuaijishan's approach includes cultural empowerment and quality upgrades, aiming to establish itself as a leader in the high-end Huangjiu market [6] Group 4 - The experience of Japan's Dassai sake brand offers insights for the Huangjiu industry, highlighting the importance of brand storytelling and long-term strategic development [7] - Dassai's sales increased from 4.6 billion yen in 2014 to 19.5 billion yen by 2024, demonstrating the potential for growth through strategic branding and market positioning [7]

【深圳商报讯】（首席记者 谢惠茜）12月23日，国家金融监督管理总局遵义监管分局行政处罚信息公 开表显示，贵阳银行习水支行因"违规收取小微企业贷款承诺费"被罚款20万元；时任贵阳银行习水支行 行长李伟同样被警告。与此同时，贵阳银行正安支行因"贷款项目资本金未真实入账"被罚款30万元；时 任贵阳银行正安支行行长冯在稳同样因"贷款项目资本金未真实入账"被警告。 这并非贵阳银行近期第一次收到监管罚单。11月25日披露的行政处罚信息公开表显示，因"贷款三查不 到位"，贵阳银行黔西南分行被罚款60万元。时任贵阳银行黔西南分行行长助理易麒麟被警告并罚款5万 元，时任贵阳银行兴仁支行行长杨春被警告。 据记者不完全统计，贵阳银行今年以来已累计收到监管处罚10起，总处罚金额达240万元，其中，分支 机构处罚共8起，涉及黔西南分行、龙里支行、福泉支行、黔南分行、习水支行、正安支行等；共6名责 任人被警告或罚款，其中2人被同时处以警告与罚款。 据悉，贵阳银行2024年时曾单日收到5张罚单，涉及员工职务侵占、内控薄弱等，引发市场对该行内控 机制有效性的关注。 ...

南湛高速广东段开工 施工现场可以看到，旋挖钻机高效运转，其最大钻孔直径达2.5米，深度可达106米，凭借大功率动力系统与 精准控制系统，可实现高效率、高质量、低扰动作业。 当天，项目两个土建标段同日启动桩基作业施工，一个标段启动路基土方作业施工，为后续工序开辟作业面 的同时，正在形成项目进入施工阶段后的首个"施工热潮"。 南湛高速广东段全长约30公里，双向四车道，时速120公里。项目起于廉江市长山镇省界处，顺接南宁至湛江 高速公路广西段，途经廉江市石颈镇，终于廉江市石岭镇，向东延伸接入玉林至湛江高速公路。 项目建成后，将成为南宁与湛江间最便捷的高速通道，不仅大幅缩短两地时空距离，更将有力支撑湛江建设 省域副中心城市，助力粤西与北部湾城市群的融合发展。 南湛高速长山互通效果图。 【深圳商报讯】(驻穗记者姚嘉莉通讯员粤交集宣王秋实)12月23日，伴随着旋挖钻机低沉的轰鸣，广东交通 集团南宁至湛江高速公路广东段首根桩基在石岭北立交主线桥顺利开钻，项目正式进入先行工程施工阶段， 粤桂之间又一条高速大通道迈入建设新阶段。 首桩长25米、桩径1.6米。为确保"第一钻"万无一失，项目联合参建各方提前开展多轮方案审查、安全技 ...

深圳市河南淮阳商会会长吕申磊表示，深圳市河南淮阳商会的成立，承载着在深淮阳人的共同期盼与使 命,深感责任重大、使命光荣，未来将秉持"团结、务实、创新、共赢"的精神，广泛凝聚共识力量，带 领商会班子全力以赴搭建资源对接平台，推动会员企业协同发展，积极主动为淮阳与深圳的经济交流、 产业合作贡献智慧和力量，努力在粤港澳大湾区建设发展进程中展现新担当新作为。 淮阳是河南"文化根脉"，"淮商"素以"诚信务实、敢闯敢干"著称。揭牌仪式暨成立大会上，深圳市河南 商会会长荆新生向淮阳商会的成立表示热烈祝贺，向为商会筹备付出心血的乡贤们致以诚挚敬意。荆新 生表示，深圳市河南淮阳商会成立，是千年淮商精神与深圳创新基因的交融赋能，既是乡情驿站，也是 发展平台，既是在深淮阳籍企业家的"新家落成"，也是在深豫商大家庭的新添力量，深圳市河南商会将 全力支持淮阳商会发展，共享平台资源。荆新生寄望淮阳商会坚守初心使命，依法依规运营，倾听会员 需求，解决企业难题，打造优质平台，赋能经济发展，共同擦亮"豫商"金字品牌，携手书写合作共赢新 篇章。 深圳市河南淮阳商会成立 【深圳商报讯】(记者梁修明通讯员张超然)同饮龙湖水，共聚湾区情。日前，深圳市 ...

Core Insights - Guangdong is positioning itself as a leading hub for the gaming industry in China, with initiatives to become the first city for game exports and the establishment of the "Greater Bay Area Game Valley" [2][3] Group 1: Market Growth and Projections - The global gaming market is projected to reach $188.8 billion by 2025, growing at a rate of 3.4%, with the Asia-Pacific region expected to generate $87.6 billion, a 2.3% increase [2] - China's gaming revenue is estimated to reach $52.3 billion by 2025, while Guangdong's gaming revenue is forecasted to hit ¥283.61 billion, reflecting an 8.9% year-on-year growth [2][3] Group 2: Guangdong's Market Share - Guangdong's gaming revenue accounts for over 80% of the national total, increasing from 79.94% the previous year, with a significant contribution from mobile games, client games, and mini-program games [3] - The province has seen an average annual growth rate of 12% in its gaming industry over the past decade, solidifying its status as a national leader [3] Group 3: Industry Development and Trends - The gaming industry in Guangdong is transitioning from "product management" to "emotional management," reinforcing its position as the "heart" of China's gaming sector [4] - The esports sector is rapidly evolving into a standalone industry, driven by new consumer trends and policies, with significant growth in esports-related products and events [4] Group 4: International Expansion - Guangdong's self-developed games are projected to generate over ¥42.36 billion in overseas revenue in 2024, with expectations for this figure to reach ¥46.43 billion by 2025, marking a 9.6% increase [4]

Group 1 - Bertli is planning to issue overseas shares (H-shares) and list on the Hong Kong Stock Exchange to enhance its international strategy, improve overseas capacity, and expand financing channels for high-quality development [1] - The company is in discussions with intermediaries regarding the specifics of the H-share listing, which will not change the controlling shareholder or actual controller [1] - Bertli's main business includes the research, manufacturing, and sales of automotive chassis systems and intelligent driving systems, with clients such as Chery, General Motors, Volkswagen, BYD, Li Auto, and NIO [1] Group 2 - For the first three quarters of 2025, Bertli achieved revenue of 8.357 billion yuan, a year-on-year increase of 27.05%, and a net profit attributable to shareholders of 892 million yuan, up 14.58% [2] - The company has filed a lawsuit against former executives for allegedly infringing on intellectual property rights and misappropriating trade secrets, seeking compensation of 2.5 million yuan [2][3] - The lawsuit claims that the former executives utilized proprietary technology during their employment to file patents after leaving the company, resulting in significant economic losses for Bertli [3] Group 3 - The former executives established companies that have reportedly raised over 400 million yuan in funding, leveraging the patents they allegedly misappropriated from Bertli [3] - The company has emphasized that the ongoing litigation is not affecting its normal operations [3] - The competing company, Suzhou Coordinate Intelligent Technology, has publicly stated its commitment to advancing EMB technology and has completed four rounds of financing totaling nearly 400 million yuan [4][5]

Core Viewpoint - Tianyi Medical has been penalized for producing medical devices that did not comply with registered technical requirements, resulting in the confiscation of 7,170 sets of illegal products and a fine of 14.02 million yuan [1][2]. Group 1: Regulatory Issues - The company was found to have produced blood purification devices that did not meet the specified technical requirements, violating the Medical Device Supervision and Administration Regulations [2]. - The Ningbo Market Supervision Administration noted that the involved products are classified as high-risk medical devices and require strict management [1]. Group 2: Company Response and Penalties - Tianyi Medical cooperated with the investigation, recalled some of the involved products, and implemented corrective measures, which led to a reduction in penalties [2]. - The penalties imposed include the confiscation of 7,170 illegal medical devices, confiscation of illegal gains amounting to 5.23 million yuan, and a fine of 8.79 million yuan [2]. Group 3: Financial Performance - For the first three quarters of the year, the company reported a revenue of 387 million yuan, representing a year-on-year increase of 24.14% [3]. - The net profit attributable to the parent company was 20.09 million yuan, showing a significant year-on-year growth of 216.81% [3]. - The net profit after deducting non-recurring gains and losses reached 8.41 million yuan, with a remarkable increase of 762.11% year-on-year [3]. Group 4: Market Performance - On December 24, Tianyi Medical's stock price increased by 0.48%, closing at 54.87 yuan per share, with a total market capitalization of 3.234 billion yuan [4].

Core Viewpoint - The announcement reveals that the controlling shareholder, Lao Bai Xi Medicine Group, has pledged 14 million shares of Lao Bai Xi Pharmacy, which raises concerns about the company's financial stability and stock performance [1] Share Pledge Situation - The total number of shares pledged by the controlling shareholder amounts to 114 million, representing 63.25% of their holdings and 15.04% of the company's total share capital [1][2] - The pledge is intended to meet the operational needs of the medicine group, which claims to have the ability to repay the funds, with repayment sources including dividends from the listed company and self-raised funds [2][3] Future Pledge and Reduction Plans - In the next six months, 12.35 million shares are set to mature, accounting for 6.84% of the controlling shareholder's holdings and 1.63% of the company's total shares, with a corresponding financing amount of 100 million [3] - The medicine group plans to reduce its holdings by 18.11 million shares between June 20 and July 30, 2025, at a price range of 17.60 to 21.55 yuan per share, totaling approximately 341 million [4] Financial Performance - Recent financial results show that the company experienced a revenue decline of 0.36% year-on-year in 2024, with a net profit drop of 44.13% [5] - For the first three quarters of 2025, both revenue and net profit continued to decline, with decreases of 1% and 16.11%, respectively [5] - The company's stock price has fallen over 70% from its peak of 53.14 yuan per share in 2020, closing at 15.26 yuan per share with a total market capitalization of 11.58 billion [5]