经济观察网统一股份（600506）深知，单一企业的减排能力有限，真正的绿色变革必须延伸至整个产业 链。为此，统一石化牵头成立"低碳供应链联盟"，按ISO20400可持续采购体系运作，优先选择减碳达标 伙伴，从源头锁住碳成本。 ISO20400可持续采购认证是来自40多个国家和全球组织的代表(包括联合国环境规划署、经济合作与发 展组织和国际工会联合会)共同努力的成果，将可持续性纳入组织采购流程中提供了指导方针。 统一石化CEO李嘉表示，唯有将低碳行动嵌入产业链每一环，让责任与效率同频、创新与信任共振，才 能在ESG浪潮中走得更远，最终以可持续的商业价值，回应时代的命题。 ...

Core Viewpoint - The company actively participates in the formulation of China's national low-carbon standards while promoting its own low-carbon transformation, contributing real data and methodologies to help establish a scientific and quantifiable carbon reduction system in the industry [1] Group 1: Low-Carbon Standards - The national standard GB/T 46566—2025 for greenhouse gas management will officially be implemented on October 31, 2025, providing clear technical guidelines for the low-carbon transformation of the manufacturing industry [1] - The company is the only core drafting unit in the lubricating oil industry, leveraging years of expertise in low-carbon technology to integrate its self-developed low-carbon technological achievements into the core framework of the standard [1] Group 2: Technical Contributions - The "production carbon emission accounting" module, which the company led in compiling, has become a technical benchmark for carbon data measurement in the chemical industry, highlighting the influence of local enterprises in the low-carbon technology sector [1]

经济观察网自2018年启动低碳转型以来，统一股份（600506）系统性构建覆盖能源、供应链、原料、包 装、技术、产品与生态的七大"绿色账本"。工厂70%用电来自自有光伏，电价低至0.3元/度；推广液袋 +纸盒包装减少70%塑料使用；开发零碳润滑油降低对化石资源依赖。在统一股份的实践中，ESG不是 附加题，而是竞争力的底层代码。 ...

经济观察网李嘉强调，衡量负责任企业的标准很现实——所有合作伙伴能否从合作中获益。若供应商赔 钱供货、客户用产品不赚钱等，并非负责任表现。他认为，负责任的企业要做到四件事：对国家依法纳 税、创造就业；对上下游不拖欠、诚信合作；对客户确保产品有价值；对员工保障生存、发展与成长。 这不仅是价值观，更是统一股份（600506）日常管理的主轴。 ...

Core Viewpoint - The company focuses on low-carbon product development from a green product lifecycle perspective, achieving a significant reduction in carbon footprint for core products by over 70% in recent years [1] Group 1: Product Development and Cost Management - The cost of sustainable aviation fuel was previously 2.5 to 6 times higher than traditional kerosene, but through continuous R&D and supply chain optimization, the company has managed to bring costs down to competitive levels [1] - A hydraulic oil product with a 43% reduction in carbon footprint now matches the cost and lifespan of high-carbon products, demonstrating the company's commitment to not passing additional costs onto customers for carbon reduction [1] Group 2: Zero Carbon Premium Strategy - The "zero carbon premium" product strategy challenges the industry perception that low-carbon products are inherently high-cost, offering lower carbon footprints at the same price while providing longer oil change cycles, reduced equipment downtime, and lower energy consumption [1] - This strategy enhances total cost of ownership (TCO) for customers, thereby improving their market competitiveness [1] Group 3: Innovation Methodology - The company's approach is based on the "4R1D" innovation methodology, which promotes green product lifecycle through five dimensions: Reduce, Reuse, Recycle, Bio-cycle, and Degradable [1]

经济观察网面对研发周期长这一痛点，统一股份（600506）投入构建内部AI研发平台，整合近10年二 十多万条研发数据及配方库。借助"统一智能流体大脑"，特定指标液压油研发周期从6个月缩至1个月， 效率大增，也让公司在绿色产品平价化上抢得先机。例如，一款碳足迹降低43%的液压油，成本与寿命 可比肩高碳产品，"不让客户为减碳多花钱"。同时，公司重视面对面沟通，认为"AI+客户关系"时代， ToB业务信任和痛点理解需靠人建立，技术与关系合力让绿色与盈利并行。 ...

12月10日晚，海正药业（600267）（600267.SH）公告披露，广州医药股份有限公司（下称"广州医 药"）将斥资5亿元，收购上市公司全资子公司浙江省医药工业有限公司（下称"浙江医药 （600216）"），这是几天内第二起大型医药流通企业的跨省并购。 目前，在国内药品批发行业，国药集团、上海医药（601607）、华润医药、九州通（600998），以及重 庆医药—中国医药（600056）联合体2024年主营收入分列前5位，且年收入规模全部超过1000亿元，这 对于规模相对较小、且业务主要集中在各省区域的医药流通企业形成较大的竞争压力。在此背景下，通 过跨省并购提升规模，拓展业务范围和领域，成为一些医药流通企业的应对之策。 值得注意的是，广州医药东进收购浙江医药前，已将并购之手"伸"到了江苏。今年9月底，广药旗下的 广州医药二期产业基金，斥资7.49亿元买下南京医药（600713）11.04%的股份，成了这家江苏老牌医药 流通企业的第二大股东。 11月18日，2025年广药集团、广药白云山战略合作研讨会在南京举办。广药集团党委书记、董事长李小 军在会上表示，面对医药健康行业新变化，广药集团正向着"再造一个新 ...

Core Insights - Japanese brands are strategically adjusting their presence in the Chinese market, with notable exits from various sectors while simultaneously increasing investments in high-tech industries [1][12]. Group 1: Market Exit and Shrinking Presence - Sony's Xperia mobile business announced its exit from the Chinese market in November 2025, while Sharp has removed several mobile products this year [1][2]. - Mitsubishi Motors officially ceased production and sales in China at the beginning of 2025, closing its joint venture factory in Changsha, Hunan [1][3]. - Japanese automotive brands have seen their market share in China drop to 10.8%, a decline of over 50% from peak levels, while Chinese brands surged to 58.3% [2]. - In the home appliance sector, Japanese brands collectively hold less than 8% of the market, with Haier and Midea dominating at 72% [2]. Group 2: Strategic Investment in High-Tech Industries - Despite the market exits, Japanese investment in China increased by 55.5% in the first nine months of 2025, with a focus on high-tech manufacturing and energy-saving sectors [1][12]. - Japanese companies are investing in digital AI, industrial IoT, and biomedicine, collaborating with Chinese firms to develop innovative solutions [12]. - Panasonic is shifting its focus from low-end consumer appliances to high-end care appliances and commercial equipment, closing several production lines for low-end products [4]. Group 3: Challenges and Market Dynamics - Japanese brands have struggled to adapt to changing consumer preferences in China, leading to a misalignment with local market demands [9][10]. - The perception of Japanese products has shifted, with consumers becoming more price-sensitive and less reliant on the "import halo" [9]. - Japanese companies face high labor costs and lengthy decision-making processes, putting them at a disadvantage in competitive price wars [11]. Group 4: Future Outlook and Strategic Realignment - Japanese firms are not entirely retreating but are instead selectively withdrawing from low-end manufacturing while investing in emerging industries [12][13]. - The focus on high-quality products and advanced manufacturing indicates a strategic realignment to maintain competitiveness in the evolving market landscape [12][13].

经济观察网 12月10日，以"韧性与远见：重塑财富新战略"为主题的2025安联中国财富论坛在上海召 开。 安联经济研究中心(Allianz Research)高级经济学家Michaela Grimm表示，中国已崛起为全球财富增长 的"第二极"。中国全球金融资产份额达15%（较2004年增长五倍），增长贡献率高达19.8%。过去二十 年间，中国的人均实际金融资产购买力增长近10倍，人均金融资产排名从第40位跃升至第31位，增速冠 绝全球，充分体现了国民财富水平的整体提升。 在全球经济格局深刻变革之际，增长动能切换与财富传承模式革新已成为每位个人投资者必须面对的核 心议题。 安联人寿首席合作伙伴业务官脱克坦言，高净值人士的需求图谱已非常清晰：他们要的不再是单一产 品，而是一个以"安全与传承"为核心，能够整合保险、法律、税务及全球资源的综合解决方案。 安联基金副总经理兼首席投资官郑宇尘在分享《中国投资市场分析与展望》报告时指出，2026年的中国 GDP增长目标预计将维持在5%左右，主要得益于强劲的出口和需求的稳定复苏。报告分析认为，当前 的政策环境演变和向好的产业趋势推动了股市牛市，且股票估值隐含的风险溢价处于合理 ...

Core Viewpoint - The establishment of the "Silicon Material Storage Platform Company" is a significant move to address the overcapacity and price decline issues in the photovoltaic silicon material industry, aiming for strategic cooperation among major industry players [2][4][6]. Group 1: Company Formation and Purpose - Beijing Guanghe Qiancheng Technology Co., Ltd. was registered on December 9 with a capital of 3 billion yuan, focusing on technology services and consulting [2]. - The company aims to explore strategic cooperation opportunities in the photovoltaic industry, including technology upgrades and market expansion [2]. - The formation of the "Silicon Material Storage Platform Company" is intended to tackle severe overcapacity, low prices, and high inventory levels in the silicon material sector [4][5]. Group 2: Industry Context and Challenges - Domestic polysilicon capacity exceeds 3 million tons, capable of supplying 1,500 GW of photovoltaic modules, far exceeding actual downstream demand [4]. - The price of silicon materials has dropped from over 70,000 yuan/ton at the beginning of the year to about 30,000 yuan/ton, below the industry's cash cost line [4]. - Despite self-regulatory efforts, over 500,000 tons of silicon material inventory remains, sufficient for 2-3 months of downstream use [5]. Group 3: Strategic Plans and Market Reactions - A proposed industry fund of 70 billion yuan aims to acquire and consolidate silicon material capacity, with plans for production cuts to stabilize prices [2][6]. - The market speculates that the storage capacity for the platform could be around 1.2 to 1.3 million tons, with a target of retaining 2.2 million tons to ensure a 70% operating rate [7]. - The company has garnered interest from leading silicon material enterprises, indicating a collaborative approach to address industry challenges [6]. Group 4: Company Structure and Leadership - Guanghe Qiancheng's ownership includes major players like Tongwei Co., Ltd. and GCL-Poly Energy Holdings, with a diverse board of directors from leading silicon material companies [9][10]. - The leadership team comprises experienced professionals from the industry, suggesting a strong operational foundation for the new company [10]. - The establishment of this company may lead to the exit of certain firms from the silicon material storage collaboration, indicating a shift in industry dynamics [10].