不到一年，海南发展（002163.SZ）控股子公司再发停窑消息。 不过，海控三鑫近两年持续处于亏损状态，成为海南发展主要亏损源。在此背景下，海控三鑫已两度采 取停窑措施。 披露信息显示，海控三鑫拥有550吨、650吨共2座窑炉和7条深加工生产线。其中，650吨窑炉共有5条原 片生产线，由海控三鑫于2010年7月动工建设、2011年4月点火生产。 2024年9月，海控三鑫宣布对650吨窑炉进行停窑冷修。对于当时停窑冷修原因，海南发展表示，由于市 场竞争加剧，同时海控三鑫650吨窑炉经过上一次冷修后又快进入新的冷修期，窑炉及相关附属设备有 一定老化。 "本次停窑可有效控制光伏玻璃产品经营亏损，有利于其库存去化回笼资金。"当时，海南发展表示，虽 然本次停窑整体上会对营业收入规模有所影响，但有助于提高公司运行效率，提升公司盈利能力。 日前，海南发展宣布，控股子公司海控三鑫（蚌埠）新能源材料有限公司（以下简称"海控三鑫"）于近 期对550吨窑炉及5条深加工生产线进行停窑减产。 海控三鑫拥有550吨、650吨共2座窑炉和7条深加工生产线。除此次停窑减产所涉窑炉及产线外，海控三 鑫650吨窑炉也已于2024年9月停窑冷修。 ...

在经历了两轮问询后，鼎佳精密（920005.BJ）近日正式登陆北交所。据了解，鼎佳精密此前网上发行 获配户数为8.03万户，网上获配股数为1900.00万股，网上获配金额为2.12亿元，网上获配比例为 0.03%。本次发行，鼎佳精密战略配售股份合计400.00万股，占本次发行规模的20%（不含超额配售部 分股票数量），发行价格11.16元/股，战略配售募集资金金额合计4464.00万元。 《中国经营报》记者注意到，作为鼎佳精密实控人的李结平、曹云，直接和间接合计控制鼎佳精密 89.77%的股份表决权，二人为夫妻关系。而据其此前披露的招股书，鼎佳精密在社保、公积金等方面 或存在违法违规情况。此外，在原产能利用率下降且手握大量现金用来理财的情况下，也让外界对鼎佳 精密此次募资的必要性打上疑问。 人社局称不缴纳社保属违法 鼎佳精密招股书披露，2022—2024年间，公司员工分别为393人、436人、522人。2024年有15人未缴纳 养老、失业、工伤保险，有17人未缴纳医疗、生育保险；2023年有29人未缴纳养老、失业、工伤保险， 有30人未缴纳医疗和生育保险；2022年有8人未缴纳上述5类社会保险。而在公积金方面 ...

Core Viewpoint - Since 2025, there has been a surge in mainland Chinese technology companies listing in Hong Kong, driven by regulatory changes and market conditions that favor international financing opportunities for high-growth potential firms [1][2]. Group 1: Reasons for Increased Listings - Hong Kong's status as a major international capital market provides a highly open and rule-of-law environment, enhancing brand recognition and international influence for companies [2]. - The overall recovery of the Hong Kong stock market in 2023 has attracted global investors and long-term capital, improving market valuation and liquidity, which narrows the price gap between "A+H" shares [2]. - The presence of substantial international long-term capital in the Hong Kong market recognizes the growth potential of technology companies, facilitating better shareholder structures and corporate governance [2][6]. - Companies can leverage the flexibility of the Hong Kong market, which has more attractive listing conditions and regulatory rules for subsequent financing [2][6]. Group 2: Policy Support for "A+H" Structure - The China Securities Regulatory Commission (CSRC) has introduced measures to optimize the interconnection between mainland and Hong Kong capital markets, supporting leading domestic companies in their Hong Kong listings [3]. - The CSRC's commitment to promoting high-level institutional opening and encouraging companies to seek diversified financing channels marks a new phase in the openness of China's capital market [3][4]. - The Hong Kong Stock Exchange (HKEX) has streamlined the approval process for A-share listed companies, significantly improving the efficiency of the listing process for qualified firms [4][5]. Group 3: Benefits of Listing in Hong Kong - Listing in Hong Kong helps companies build an international brand image and expand their influence in the capital market, supporting their internationalization efforts [6]. - The requirement for market promotion to overseas investors during the listing process allows companies to better highlight their investment potential and valuation [6]. - Hong Kong listings support overseas business development and enhance competitiveness in international collaborations or acquisitions [6]. - The market-oriented stock incentive plans in Hong Kong attract international talent, aiding companies in their overseas market expansion [6]. Group 4: Compliance and Risk Considerations - Companies must adhere to data compliance requirements across both mainland and Hong Kong jurisdictions, addressing potential issues proactively [7]. - Consideration of foreign investment restrictions is crucial, especially for companies in sensitive industries [7]. - The Hong Kong market demands high transparency and sustainability in information disclosure, necessitating robust ESG and investor relations frameworks [7].

Core Insights - JD.com has strategically led a new round of Series A financing for the intelligent robotics and sensor company "Paxini," indicating a strong commitment to the embodied intelligence sector [1] - Over the past three months, JD.com has invested in six companies related to embodied intelligence, showcasing a rapid expansion in this field [1][4] - The upcoming "2025 World Robot Conference" will feature a presentation by Dr. He Xiaodong from JD.com, outlining the company's strategic logic in the embodied intelligence industry [1] Investment Strategy - Paxini, founded in June 2021, specializes in intelligent perception and interaction technology, with products including multi-dimensional tactile humanoid robots and multi-dimensional tactile sensors [2] - JD.com aims to create a closed-loop ecosystem encompassing sensors, datasets, large models, and multi-scenario applications, with Paxini's client base spanning various sectors such as smart manufacturing and healthcare [2] - The investment strategy reflects a clear selection criterion, focusing on technologies that fill gaps in JD.com's own research and development, and that are highly compatible with retail and logistics scenarios [5] Market Positioning - JD.com has positioned itself across the entire value chain of embodied intelligence, including robotics, core components, motion control technology, and interaction models [6] - Other major internet companies, such as Tencent and Meituan, are also accelerating their investments in the embodied intelligence market, recognizing its vast commercial application potential in retail and logistics [6] - The investment approach allows JD.com to quickly integrate external technological resources, thereby enhancing its competitive edge in smart retail and logistics [6] Industry Challenges - The embodied intelligence industry is still in its early stages, facing challenges such as high hardware costs, insufficient scene adaptability, and a lack of safety and ethical standards [7] - Key technical bottlenecks include the need for improved dexterous grasping, energy-efficient joint drives, and multi-modal perception integration [7] - The concentration of capital in leading firms may inhibit innovation among smaller companies, highlighting the need for a balanced investment approach to foster overall industry growth [7]

Core Viewpoint - The controlling shareholder of Suzhou Chunxing Precision Mechanical Co., Ltd. has failed to recover nearly 400 million yuan owed to the company, and part of the shares held by the controlling shareholder is undergoing judicial auction [2][6] Group 1: Debt and Financial Transactions - The overdue amount relates to a transaction from December 2018, where Chunxing Precision transferred equity stakes in two companies for a total consideration of 450 million yuan [3] - The agreement stipulated that 10% of the transfer price was to be paid upfront, with the remaining 90% and interest due within 36 months [3] - As of January 3, 2024, the outstanding amounts include 361 million yuan for equity transfer and 81.48 million yuan for business transactions, totaling approximately 397 million yuan [4] Group 2: Legal Actions and Recovery Efforts - Chunxing Precision has initiated legal proceedings against the relevant parties regarding the overdue equity transfer payments, and the case is currently being processed by the court [5] - The company has made provisions for bad debts based on the collateral provided by the debtor [5] Group 3: Shareholder Control and Judicial Auction - The controlling shareholder, Sun Jiexiao, has approximately 170 million shares (15.05% of total shares) subject to judicial auction due to contract disputes, but the auction has failed to attract bids [6] - If the shares were to be sold, it could lead to a change in the company's controlling shareholder, although the company stated that the failed auction would not significantly impact its operations [6][7] - A high proportion of the shares held by the controlling shareholder are frozen, which poses a risk to the stability of control over the company [6][7]

中经记者 罗辑 北京报道 （编辑：夏欣 审核：何莎莎 校对：张国刚） 8月5日，沪指夺回3600点关口。Wind数据显示，截至8月5日，A股两融余额报20002.59亿元，正式突破 2万亿元大关，创近10年新高。其中，融资余额19863.11亿元，融券余额139.48亿元。上一次A股两融余 额突破2万亿元，还是在2015年的牛市行情中。业内人士认为，两融余额再破2万亿元，说明市场信心回 暖、活跃度提升。 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 今年5月22日，ST帕瓦曾发布公告称，董事长兼总经理张宝因个人身体原因辞去职务，并不再担任公司法定代表人。不过，张宝的辞职自2025年5月21日 起生效后，其仍继续担任公司董事及战略委员会主任委员等职务。 实际上，张宝与ST帕瓦之间的问题早有端倪。7月13日，ST帕瓦在回复上交所问询函中透露，根据张宝6月出具的《资金占用情况说明》，张宝通过供应 商占用公司资金1.4亿元，占用销售货款4991.88万元，合计占用公司资金本金1.91亿元。按照公司对供应商年度支付金额分摊，其中2022年度占用7403.2万 元，2023年度占用8538.62万元，2024年度占用3192.07万元，按同期LPR利率计算，资金占用利息1291.25万元，上述占用资金本金及利息合计2.04亿元。 ST帕瓦称，上述情形发生的主要原因是公司在工程投资、销售、采购业务等相关内控关键节点存在重大缺陷，公司已将相关项计入其他应收款核算。张 宝承诺将于2025年9月30日前归还全部资金占用款。 7月25日，ST帕瓦公告表示，截至公告披露日，公司已收到张宝归还的占用款项3000万元，公司将持续督促 ...

Group 1 - The credit card business is currently focused on cost reduction and efficiency improvement, with a shift towards a stock competition era where product benefits are diminishing [1][4] - A state-owned bank announced that starting from September 14, 2025, litigation-related fees due to overdue credit card accounts will be included in the statement of the involved credit cards, which includes various fees such as litigation fees, arbitration fees, and others [2][3] - The People's Bank of China reported a decline in the total number of credit cards issued, with 727 million cards as of the end of 2024, a year-on-year decrease of 5.14% [3][4] Group 2 - Over 40 bank credit card centers have been approved to cease operations this year, indicating a significant shift in the credit card market from growth to stock competition [4] - The competitive landscape for credit cards is intensifying, with traditional banks facing pressure from emerging fintech companies that offer similar consumer finance products, leading to a reduced reliance on credit cards by consumers [4] - The role of credit cards is evolving, as mobile apps are increasingly used to connect with retail customers, diminishing the traditional utility of credit cards in customer data accumulation and cross-selling [4]

Core Viewpoint - The banking industry is accelerating the layout of scenario-based financial services, aiming to build a new service ecosystem by deeply embedding into enterprise operational scenarios [1] Group 1: Service Development - China Postal Savings Bank launched the "Postal Financial Management +" series of services to assist enterprises in establishing a "system collaboration" in an efficient manner [1] - The "Postal Financial Management +" integrates various services such as treasury cloud, enterprise collection, payment, operation, connection, and management, providing a systematic service for financial funds, assets, and resource coordination, serving over 200,000 enterprise clients [2] - The service features inclusiveness, intelligence, and openness, innovatively creating a product system that meets the full lifecycle needs of enterprises, showcasing the responsibility of state-owned banks in financial service [2] Group 2: Digital Transformation - In the context of enterprise digital transformation, banks are accelerating the construction of intelligent financial asset management systems [3] - A certain joint-stock bank in Guangzhou launched a "financial asset management cloud product system" to assist enterprises in digital transformation, optimizing financial management processes and enhancing operational efficiency [3] - Another joint-stock bank in Shanghai focuses on treasury system construction as a breakthrough for financial management digital transformation, helping state-owned enterprises enhance efficient and secure fund management [3] Group 3: Challenges and Strategic Focus - Enterprises face three unavoidable challenges during digital transformation: data silos, efficiency bottlenecks, and security risks, which necessitate the development of a financial management digital service system by banks [4] - The banking service model has shifted to focus on the ecological scenarios of enterprise operations, requiring a customer demand-oriented approach and breaking down product chain barriers [4]

8月3日晚间，ST帕瓦（688184.SH）公告披露，其于2025年8月1日收到公安机关出具的《立案决定 书》，公司共同实际控制人之一、董事张宝因涉嫌职务侵占被公安机关立案侦查。 此前，张宝在担任ST帕瓦董事长期间曾被披露存在占用公司资金的情况。 对于上述立案事宜，ST帕瓦证券办人士向《中国经营报》记者回应称："目前掌握的信息与公告内容一 致，具体情况尚不清楚。若有最新进展，公司将通过公告及时披露。"该人士表示，"公司目前经营正 常，相关管理人员均正常履职。" 资金占用 今年4月29日，ST帕瓦公告称，因天健会计师事务所对公司2024年度财务报告内部控制出具了否定意见 的审计报告。根据相关规定，公司A股股票将被实施其他风险警示。 在董事会关于争取撤销风险警示的意见及主要措施中，ST帕瓦方面提到，经自查，公司经营管理层存 在经营管理不善问题，导致公司与供应商交易价格不公允的情形，累计向部分供应商多付工程及设备款 1.8亿元。张宝出具承诺，将对上述金额进行追讨，同时对上述1.8亿元损失承担连带赔偿责任。 业绩"变脸" ST帕瓦成立于2014年，专注于新能源电池材料的研发、生产与销售，核心产品为三元前驱体。 202 ...