经济观察网近期，国际金价屡创新高，韩国金价也随之上涨，市场再次掀起黄金投资热潮。总台记者在 韩国首尔贵金属一条街走访了解到，黄金正在从传统保值品逐渐被更多韩国民众当作投资商品来配置。 首尔一家金店负责人告诉记者，购买大克重黄金产品的顾客明显增多，黄金回收业务同样活跃。除实物 黄金外，黄金银行账户数明显增加。 ...

Core Insights - China Ping An ranked 9th in the "Top 100 Most Valuable Chinese Brands" by Kantar BrandZ with a brand value of $29.64 billion, marking a year-on-year increase of approximately 44.5% [1] - The BrandZ ranking evaluates brands based on financial value and brand contribution, highlighting China Ping An's commitment to building a trusted national brand and its ongoing digital transformation strategy [1] Group 1: Financial Performance and Customer Engagement - As of June 2025, China Ping An had nearly 247 million personal customers, equating to one in every six Chinese individuals being a customer, with an average of 2.94 contracts per customer, reflecting a 0.3% increase from June 2024 [2] - The average operating profit per customer reached 247.32 yuan in the first half of 2025, showing a year-on-year growth of 0.6% [2] - The company aims to provide a seamless financial service experience through a comprehensive financial supermarket model, emphasizing customer needs and product advantages [2] Group 2: Technological Advancements - China Ping An has leveraged AI technology to enhance its financial services, achieving 818 million calls to its large model and over 650 applications across various scenarios in the first half of 2025 [2] - AI-driven customer service accounted for approximately 8.82 billion interactions, covering 80% of total customer service volume, with a 94% instant underwriting rate for life insurance policies [2] - The integration of AI and human collaboration has improved policy renewal rates by 18%, enhancing customer protection [2] Group 3: Corporate Social Responsibility and Sustainability - By June 2025, China Ping An had invested nearly 10.8 trillion yuan in supporting the real economy, with green investment totaling 144.48 billion yuan and green loan balances at 251.75 billion yuan [3] - The company reported green insurance premium income of 35.84 billion yuan and provided 32.81 billion yuan in rural industry support in the first half of 2025 [3] - China Ping An's MSCI ESG rating improved to AA, ranking first in the Asia-Pacific region for "comprehensive insurance and brokerage," and it was the only insurance company from mainland China included in the S&P Global "Sustainability Yearbook" [3]

Group 1 - The core issue revolves around the tax rate applicable to pre-prepared dishes sold by restaurants, specifically the distinction between "catering services" and "sales of goods," which are subject to different VAT rates of 6% and 13% respectively [2] - The debate on tax rate applicability is significant as it could indicate potential tax arbitrage if pre-prepared dishes are misclassified [2] - According to Wei Bin, if a restaurant does not sell pre-prepared dishes separately and processes them on-site, they should be taxed at the lower 6% rate [2][3] Group 2 - The 2016 notice from the Ministry of Finance and the State Administration of Taxation clarified that takeout food from restaurants is subject to the same VAT policy as dine-in services, provided the restaurant is involved in the production or processing of the food [3] - The 2019 announcement further confirmed that food made on-site and sold directly to consumers is taxed as "catering services" [3] - The establishment of a 6% tax rate for the catering industry aligns with its cost structure, where labor costs are significant and cannot be deducted from input tax [4]

Management Changes - Dongfeng Honda has made significant management adjustments, appointing Cao Dongjie as the new executive vice president, replacing Pan Jianxin [2] - Cao Dongjie has extensive experience within Dongfeng Honda and previously led the Dongfeng Warriors brand [2][3] - The leadership change indicates a shift in strategy, with a focus on revitalizing the company's direction [2] Brand Development - The Dongfeng Warriors brand, under Cao Dongjie's leadership, launched its first model, the Warrior 917, in August 2023, priced from 637,700 yuan [3] - The brand's second model, the Warrior M817, was introduced in August 2023, priced between 319,900 yuan and 349,900 yuan, featuring advanced Huawei technology [3] - The transition from a high-end positioning to a focus on increasing sales volume is evident in the new product strategy [3] Market Position and Challenges - Dongfeng Honda faces challenges in the electric vehicle market, lagging behind competitors like Dongfeng Nissan and GAC Toyota [4] - Despite launching several brands, Dongfeng Honda has not yet introduced competitive electric products [4][5] - The company plans to incorporate more Chinese smart technologies into future products to enhance competitiveness [5] Strategic Partnerships - Dongfeng Honda has announced strategic collaborations with local companies in the fields of smart technology and electrification [4][5] - The partnerships aim to accelerate the introduction of competitive electric products and improve the company's market position [5]

经济观察报记者 郑晨烨 9月15日下午两点，深圳罗湖区，位于田贝四路万山珠宝园6楼的一家名为"君辉"的公司办公室大门紧 闭，工商资料显示这里亦是君豪金业（深圳）有限公司的办公场所，有从业者告诉记者，二者实为同一 家公司。同一时间，位于水贝二路兴龙黄金珠宝大厦6楼的深圳市粤宝鑫贵金属有限公司办公室大门亦 已紧闭。 上述公司紧闭的玻璃门上，都交叉贴着白色的封条，驻守在现场的保安对所有来访者的问题，都只用三 个字回答："不知道。" 写字楼前台工作人员提供的信息要更具体一些："警察两三天前就来了，然后就封了这里。" 几乎就在同时，一场关于"水贝金料商跑路"的讨论，开始在社交媒体上快速发酵：一则"深圳水贝十几 家金料商集体跑路"的消息开始流传，一份包含"君豪""粤宝鑫"在内的"跑路"企业名单被广泛传播，传 闻涉及的资金规模从数千万元到数亿元不等；尽管深圳市黄金珠宝首饰行业协会很快出面澄清，称传 闻"夸大不实"，仅是"个别企业出现问题"，但这并未完全驱散笼罩在市场头顶的疑云。 一个看似简单的问题由此浮现：在金价持续高位运行的背景下，本应顺势盈利的黄金商们，为何反而走 到了被关门查封的境地？ 经济观察报记者在深圳水贝走访后 ...

濮阳市国有资本运营集团有限公司的来函，既是对公司服务实体经济、秉持"以客户为中心"理念的高度 认可，亦是对公司持续提升服务质量的深切鼓励。今后，民生证券将进一步深化与濮阳市国有资本运营 集团有限公司的沟通协作，充分发挥自身专业服务能力，携手共赢，共同谱写合作新篇章。 濮阳市国有资本运营集团有限公司在感谢信中表示："此次债券发行正值集团优化债务结构、夯实发展 基础的关键阶段。贵司作为主承销商，以高度的专业素养与责任担当，全程高效推进申报工作：从前期 深入调研摸排集团资金需求，到精准设计 '借新还旧+新增融资'双品种方案，有效匹配存量债务接续与 业务拓展需求；从与监管部门的细致沟通协调，到对募集资金用途、风险评估的严格把关，每一步都凝 聚着贵司团队的智慧与付出。尤其在市场环境波动的背景下，贵司凭借敏锐的市场洞察助力我们突破融 资难点，最终以较短周期完成获批，为集团稳健发展注入'及时雨'。"。 2025年9月9日，国联民生（601456）证券子公司民生证券收到濮阳市国有资本运营集团有限公司的感谢 信，对公司帮助濮阳市国有资本运营集团有限公司25亿元公司债券成功获批，表示衷心的感谢！ ...

作者 戴莉娟 2025 年的企业廉洁治理领域，正掀起一场力度空前的 "反腐风暴"。近期多家知名企业接连公布内部反腐成果，辞退、移送司法的案例数量与层级均打破以 往纪录。这些密集动作不仅是企业自身的 "刮骨疗毒"，更折射出行业廉洁治理从 "零散打击" 向 "体系化防控" 转变的鲜明信号。 9 月 16 日，"廉洁安踏" 微信公众号发布的 2025 年反腐专项治理成果，再次刷新外界对企业反腐力度的认知。作为聚焦高风险领域推进的专项行动，安踏通 过内部审计、监察、稽核 "三重防线"，对贪腐行为展开全方位打击。 数据显示，截至 2025 年 8 月，安踏集团因严重舞弊触犯红线被辞退的员工达 74 人；涉嫌违法犯罪移交司法机关的内外部人员共计 46 人，其中内部人员 21 人、外部人员 25 人，层级覆盖总裁级 1 人、总监级 14 人、经理级 4 人，就连已离职的 3 人也因在职期间职务犯罪被追溯责任；此外，45 家违反诚信廉洁 条款的供应商及合作伙伴被纳入 "黑名单"，整体涉案金额约 3 千万元。 "任何员工在任职期间的职务犯罪行为，不受在职状态和时间限制，一经发现必将依法追究责任。" 安踏集团执行董事、联席 CE ...

Group 1 - Southwest Securities' subsidiary, Xizheng International Securities, is set to be delisted on September 29, 2025, due to failure to meet the Hong Kong Stock Exchange's operational and asset requirements [1][2] - Xizheng International Securities has reported continuous losses since 2016, with a net profit loss of 10.47 million HKD in the first half of 2025, while Southwest Securities reported a net profit of 423 million RMB [1][2] - The total assets of Xizheng International Securities were approximately 0.83 billion RMB, accounting for about 0.09% of Southwest Securities' total assets of 92.1 billion RMB as of June 30 [1] Group 2 - The recent trend shows a surge in IPOs in Hong Kong, with several brokerages planning to establish subsidiaries there, contrasting with Xizheng International Securities' stagnant performance [2] - Southwest Securities attempted to divest Xizheng International Securities for 89.66 million HKD, significantly lower than the 694 million HKD paid during its acquisition in 2014, indicating a substantial loss [2][3] - Following the delisting, Southwest Securities aims to refocus its international business through its subsidiary, Xizheng International Investment, to enhance operational efficiency and support cross-border capital operations [3]

Core Insights - The World Economic Forum (WEF) announced the latest batch of "Lighthouse Factories," with 12 new factories globally, including Tongwei Solar's Meishan facility, marking a significant achievement in the photovoltaic industry [1] - The recognition of Tongwei Solar as a "Lighthouse Factory" highlights China's leadership in smart manufacturing and digital transformation within the global photovoltaic sector [1][5] Group 1: Lighthouse Factory Recognition - Tongwei Solar's Meishan facility is the first in the global photovoltaic industry to be recognized as a "Lighthouse Factory," showcasing excellence in productivity, supply chain resilience, sustainability, talent development, and customer-centricity [1] - As of now, 201 factories worldwide have received this certification, with over 40% located in China, emphasizing the country's dominance in this area [1] Group 2: Technological Advancements - Tongwei Solar has integrated over 50 applications of Fourth Industrial Revolution (4IR) technologies, achieving breakthroughs in power conversion efficiency, process stability, and sustainability [2] - The digital transformation efforts have led to a 12% increase in power conversion efficiency, a 41% reduction in defect rates, a 37% decrease in conversion costs, and a 33% reduction in carbon emissions [2] Group 3: Digital Empowerment and Customer Trust - The company has developed a systematic advantage in reliability, delivery certainty, and lifecycle costs through the integration of industrial internet, big data, artificial intelligence, and smart models [3] - The shift towards high-end, intelligent, and green manufacturing is crucial for driving high-quality economic development, with new information technologies deeply integrated into photovoltaic manufacturing [3] Group 4: Commitment to Sustainability - Tongwei actively participates in global ESG governance and has adopted a sustainable development philosophy, joining the RE100 initiative and achieving a "five-star" rating in ESG performance [4] - The company has received multiple awards for its sustainable development efforts, reinforcing its position as a leader in intelligent manufacturing within the photovoltaic industry [4] Group 5: Future Outlook - The recognition as a "Lighthouse Factory" not only validates Tongwei's digital transformation and low-carbon development but also contributes to the global photovoltaic industry's high-quality growth [5] - Tongwei aims to continue exploring new paradigms for energy transition and green development, sharing the vision of a clean energy future with global partners [5]

当地时间9月15日，美国参议院以48票对47票的微弱优势，通过对斯蒂芬.米兰出任美联储理事会成员的 提名。这一结果超出市场预期，按照常规流程，从参议院批准到正式宣誓就职、进入FOMC会议桌需数 天时间，而米兰在确认任命次日便直接参与利率决议投票，成为美联储史上首位"无缝衔接"参会的理 事。 据了解，米兰将在美联储任职期间保留白宫工作，但会休无薪假。其加入后，FOMC本次投票格局可能 发生微妙变化。 米兰火速上任，美联储格局生变 此前市场普遍预期美联储将降息25个基点，CME"美联储观察"数据显示：美联储本周降息25个基点的 概率为95.9%，降息50个基点的概率为4.1%。美联储10月累计降息25个基点的概率为23.1%，累计降息 50个基点的概率为73.8%，累计降息75个基点的概率为3.1%。 值得注意的是，特朗普仍在向鲍威尔施压。当地时间9月15日，美国总统特朗普在其社交平台"真实社 交"上发文表示，"太迟先生"美联储主席鲍威尔必须立即降息，而且幅度必须比他预想的更大。此前， 特朗普已多次要求鲍威尔降息。而鲍威尔领导的美联储不愿按特朗普要求再次降息，令特朗普不满，从 而多次威胁要让鲍威尔"走人"。这种公 ...