公开信息显示，2022年3月3日，上交所下发《关于对天域生态环境股份有限公司控股股东罗卫国予以通 报批评的决定》。罗卫国与一致行动人持股比例因公司非公开发行股票被动稀释变动达到总股本8.33% 后又主动减持，未按规定及时履行相关权益变动披露义务，违反了上交所《股票上市规则》有关规定， 上交所对罗卫国作出予以通报批评的纪律处分决定。 （编辑：罗辑 审核：夏欣 校对：翟军） 中经记者 孙汝祥 夏欣 北京报道 天域生物（603717.SH）2025年12月31日披露，公司实际控制人罗卫国于近日收到中国证监会下发的 《立案告知书》。因罗卫国涉嫌违规减持天域生物股票，中国证监会决定对其立案。 天域生物方面在公告中表示，本次立案系对公司实际控制人的个人调查，与上市公司无关，不会对上市 公司及子公司生产经营活动产生影响。 ...

服务模式方面，天力商服以广州为创新枢纽，推动其服务体系实现从"标准化"到"产品化""个性化"，最 终迈向"生态化"的质变。 记者了解到，天力商服创新推出"FINE·友好服务体验官"机制，邀请客户深度参与服务设计与监督，形 成"客户参与—专业监督—反馈优化"的价值共创闭环。针对重要客户，推行"一户一策"定制化服务方 案，真正实现了从提供空间到提供解决方案的跨越。更为重要的是，天力商服以BPlus商业生态联盟为 纽带，搭建起一个亿级规模的资源共享平台，连接企业、资本、技术与服务，打破楼宇的物理边界，辅 以贯穿资产全生命周期的大资管服务和细致入微的大礼宾服务，天力商服旨在打造一个资源高效链接、 体验温暖贴心、多元主体融合的高品质楼宇生态共同体。 展望未来，天力商服方面表示，其将以广州为核心，持续锚定可持续发展实践、服务产品矩阵迭代、商 业生态联盟扩容三大核心方向，探索绿色技术多元应用场景，深化客企共创体验模式，强化跨领域资源 协同联动。 在"双碳"目标纵深推进与品质消费升级的时代浪潮下，商写空间正经历从功能承载到价值共生的深刻变 革。 2025年12月30日，广州天力物业发展有限公司（以下简称"天力物业发展"）助理 ...

Group 1 - The core issue involves Tibet Everest (600338.SH) and its controlling shareholder, Xinjiang Tacheng International Resources Co., Ltd. (Tacheng International), which received a notice of administrative penalty from the Tibet Securities Regulatory Bureau [1] - Tacheng International failed to disclose its shareholding relationship and changes with Jie Sheng Environmental Protection and other individuals, leading to false records in Tibet Everest's periodic reports regarding shareholding information [1] - The regulatory body found that Tacheng International concealed its relationship with other top 10 shareholders of Tibet Everest, resulting in significant omissions in the disclosures of related party relationships in the company's reports [1] Group 2 - Huang Jianrong, the chairman and legal representative of Tacheng International, is directly responsible for the concealment of the aforementioned information [2] - The Tibet Securities Regulatory Bureau plans to impose corrective measures on Tacheng International, issue a warning, and impose a fine of 2 million yuan; Huang Jianrong will also receive a warning and a fine of 1 million yuan [2]

（编辑：曹学平 审核：童海华 校对：翟军） 中国医药方面表示，上述补缴税款和滞纳金将计入公司2025年当期损益，预计影响公司2025年度净利润 6521.78万元。 中国医药业务主要分为医药工业、医药商业、国际贸易、大健康和电商等。2025年前三季度，中国医药 累计实现营业收入258.94亿元，同比下降3.42%；实现归属于上市公司股东的净利润为4.55亿元，同比 下降4.64%。此次两家子公司补缴税款预计将对中国医药全年业绩造成一定影响。 中经记者 晏国文 卢志坤 北京报道 2026年1月1日，中国医药（600056.SH）披露，下属全资子公司海南通用三洋药业有限公司（以下简 称"三洋药业"）和海南康力药业有限公司（以下简称"康力药业"）分别收到国家税务总局海口市税务局 第一税务分局关于要求补缴相关税款的《税务事项通知书》。 三洋药业需补缴税款2148.62万元，滞纳金约为1074.29万元；康力药业需补缴税款2128.26万元，滞纳金 约为1170.61万元。两家子公司合计需补缴税款及滞纳金约6521.78万元。 ...

中经记者 孙汝祥 夏欣 北京报道 上述担保事项，世纪星源均未在相关年度报告中予以披露，其披露的2014年至2022年年报存在重大遗 漏。 值得注意的是，2025年12月31日，世纪星源主办券商长城证券收悉深圳证监局向世纪星源出具的《行政 处罚事先告知书》。长城证券已通过多渠道将前述文件送达世纪星源信息披露工作指定对接人，但12月 31日，未能与相关人员取得有效联系。 为切实履行主办券商督导职责，保障信息披露的及时性与合规性，长城证券就该《行政处罚事先告知 书》内容予以公示，并进行风险提示。 （编辑：罗辑 审核：夏欣 校对：翟军） 因世纪星源披露的2014年至2022年年报存在重大遗漏，深圳证监局拟决定：对世纪星源责令改正，给予 警告，并处以500万元罚款。 同时，拟对时任董事长丁芃给予警告，并处以850万元罚款（其中作为直接负责的主管人员罚款300万 元，作为实际控制人罚款550万元）；对时任董事、总经理郑列列给予警告，并处以750万元罚款（其中 作为直接负责的主管人员罚款300万元，作为实际控制人罚款450万元）；对时任财务总监卓彬红给予警 告，并处以75万元罚款。 经查明，世纪星源涉嫌存在以下违法事实：2 ...

Core Viewpoint - The IPO application of domestic RF chip manufacturer Ruishi Chuangxin has been accepted, aiming to raise approximately 809 million yuan for various projects, including the construction of a MEMS device production base and a research and development center [2]. Company Overview - Ruishi Chuangxin, established in April 2017, focuses on the research, design, manufacturing, and sales of RF front-end chips and modules, with products used in smartphones, drones, IoT, and satellite communications [2][5]. - The company has successfully entered the supply chains of major smartphone brands such as OPPO, Xiaomi, vivo, Honor, Samsung, and Transsion [2][5]. Business Model and Production Capabilities - Initially adopting a fabless model, the company has transitioned to a fab-lite model, establishing its own filter wafer manufacturing base in Chongqing, which is expected to commence production in 2024 [3]. - Ruishi Chuangxin is one of the few domestic RF front-end companies capable of independently designing and manufacturing key components like SAW, TC-SAW, and MLSAW filters [3]. Financial Performance - Revenue has shown an upward trend from 370 million yuan in 2022 to 377 million yuan in the first half of 2025, primarily driven by sales of 5G and 4G RF front-end modules [6]. - Despite revenue growth, the company has faced continuous losses, with net profits of -328 million yuan in 2022 and -148 million yuan in the first half of 2025, leading to cumulative losses of 1.68 billion yuan by mid-2025 [6][7]. Market Position and Challenges - The company operates in a highly competitive market where over 70% of the RF front-end market is dominated by international giants like Qualcomm and Broadcom, particularly in high-end integrated modules and filters [7][8]. - The gross margin for Ruishi Chuangxin's main business has fluctuated between 7.95% and 13.90%, with a notable decline in the gross margin of 5G RF modules from 23.55% in 2022 to 11.49% in the first half of 2025 due to price competition [8]. Strategic Insights - The company aims to leverage its IPO to enhance its capabilities in filter autonomy and high-integration module development, which are critical for achieving profitability and sustainable growth [9]. - Analysts suggest that while the RF chip market is becoming increasingly competitive, there remains potential for companies like Ruishi Chuangxin to carve out a niche and grow [9].

Group 1 - The core viewpoint of the article highlights a significant increase in the issuance of corporate asset-backed securities in November 2025, with a total of 136 issuances amounting to 141.683 billion yuan, representing a 49% increase in issuance scale compared to October 2025 [1] Group 2 - In terms of issuance venues, the Shanghai Stock Exchange accounted for 102 issuances with an amount of 115.213 billion yuan, making up 81.32% of the total issuance [1] - The Shenzhen Stock Exchange had 34 issuances totaling 26.470 billion yuan, which represents 18.68% of the total issuance [1] Group 3 - The types of underlying assets for the corporate asset-backed securities issued in November 2025 included REITs, accounts receivable, corporate financing leases, microloans, and specific non-financial debt rights [1] - Among these, REITs had 9 issuances with a scale share of 14.66%, accounts receivable had 19 issuances with a scale share of 13.60%, and corporate financing leases had 20 issuances with a scale share of 11.11% [1]

在投向方面，国家创业投资引导基金坚持投早、投小、投长期、投硬科技。 近日，国家创业投资引导基金启动。京津冀创业投资引导基金、长三角创业投资引导基金、粤港澳大湾 区创业投资引导基金三只区域基金设立运行。 《中国经营报》记者采访多位专家了解到，国家创业投资引导基金围绕"募、投、管、退"四个关键环 节，构建了一套相对完整的制度创新体系，试图从根本上改善我国创投市场长期存在的运行障碍。 母基金研究中心创始人、水木资本董事长唐劲草表示，国家创业投资引导基金最鲜明的特点是"国家主 导、分层撬动、多元参与"的阶梯式资金结构。中央财政通过超长期特别国债出资1000亿元，作为核心 引导资金，确保了资金来源的稳定性和政策导向的连续性。在此基础上，通过"基金公司—区域基金— 子基金"三层架构，逐级吸引地方政府、中央企业、金融机构以及民间资本参与，形成多元化、可持续 的资金供给体系。与以往层级相对单一的政府引导基金相比，这种架构在放大财政资金杠杆效应的同 时，也为社会资本参与提供了更大空间。 在考核方面，复旦大学创新与数字经济研究院研究员毕睿罡指出，以往的国资风险投资和政府引导基金 因为其中有财政资金"保值增值"的要求，在投资过程中 ...

Core Viewpoint - The implementation of the "Regulations on the Implementation of the Value-Added Tax Law" marks a significant milestone in China's tax law reform, enhancing the legal framework and aligning with international tax standards while addressing practical needs in tax administration [1][2]. Group 1: Key Features of the Implementation Regulations - The regulations consist of 6 chapters and 54 articles, set to take effect on January 1, 2026, alongside the Value-Added Tax Law [1]. - The regulations provide authoritative clarification and interpretation of the Value-Added Tax Law, enhancing the certainty and operability of the tax system [2]. - Specific provisions include detailed definitions of taxable goods, services, intangible assets, and real estate, as well as classification standards for taxpayers [2]. Group 2: Tax Incentives and Administration Optimization - A highlight of the regulations is the optimization of tax incentives and administration mechanisms, including the requirement for timely public disclosure of tax incentive policies [3]. - The regulations simplify the approval process for cross-regional enterprise tax declarations and improve the rules for export tax refunds, thereby reducing compliance costs for taxpayers [3]. - The overall approach emphasizes the need to fully implement the Value-Added Tax Law while maintaining continuity in the tax system and allowing for practical operational flexibility [3].

Core Viewpoint - The National Development and Reform Commission (NDRC) of China has announced a list of early "two重" construction projects and a central budget investment plan for 2026, with a total funding scale of approximately 295 billion yuan to accelerate the pace of fund allocation and utilization [3][4] Group 1: "Two重" Construction Projects - The NDRC will allocate around 220 billion yuan to support 281 projects in areas such as urban underground pipeline networks, high-standard farmland, and the "Three North" project, emphasizing the strategic, forward-looking, and holistic nature of "two重" construction [3] - The focus will be on reducing logistics costs across society through these projects [3] Group 2: Central Budget Investment - Over 75 billion yuan will be allocated to support 673 projects in public sectors that require concentrated efforts, continuous investment, and structural adjustments, including urban renewal, water conservancy, ecological protection, pollution control, and energy conservation [3] - The government aims to leverage its investment to guide and stimulate further investment in these areas [3] Group 3: Soft Construction Initiatives - The NDRC plans to accelerate the introduction of various "soft construction" measures to enhance the effectiveness of investments, such as improving financing models for urban underground pipeline construction and municipal utility pricing mechanisms [4] - There will be a focus on establishing a comprehensive solid waste management system and creating a long-term mechanism that connects project construction with operation and maintenance [4]