沧州银行坚持将金融科技深度融入本地生活场景，深化政银企合作，落地智慧政务、智慧医疗、智慧校 园等百余个场景，覆盖社保查询、医院挂号及物业缴费等高频需求，整合水电气暖缴费、商超优惠等高 频场景，构建覆盖客户衣食住行的便民惠企"本地生活圈"。 在提升效率、优化体验的同时，沧州银行筑牢数字化风险防线，依托"沧银烽火台"投后贷后监测预警系 统，建立全流程智能风控体系，累计精准识别风险超18万个。运营端应用RPA技术替代高频人工操作， 配备移动营销终端支持员工上门服务，破解特殊群体"跑网点难"痛点。升级智慧网点与集中作业中心， 优化厅堂功能布局，实现客户分流更合理、服务响应更高效。 沧州银行工作人员在数据中心进行日常系统维护。 沧州银行以数字金融为牵引，按下数字化转型"加速键"，走出了一条特色鲜明、稳健务实的科技赋能路 径。 面对数字化转型浪潮，在党委书记、董事长梁宝龙的牵头推动与全程调度下，沧州银行党委凝心聚力， 仅用14个月就完成了新一代核心系统"兴航工程"的投产切换。该系统采用"分布式核心+信创云平台 +OceanBase数据库"架构，在省内城商行中率先实现全栈信创落地，为业务创新与服务升级筑牢技术底 座。项目斩 ...

Core Viewpoint - Lin Qingxuan Cosmetics Group officially listed on the Hong Kong Stock Exchange on December 30, 2025, with a strong IPO performance, raising approximately HKD 997 million for R&D, channel expansion, and brand upgrades [2][3] Group 1: Company Overview - Lin Qingxuan was founded in 2003 and has established a unique position in the Chinese skincare market with its "oil-based skincare" philosophy [2] - The company's core product, Camellia Oil Essence, has been the top-selling facial oil in China since its launch in 2014, with cumulative sales exceeding 50 million bottles [2][3] Group 2: Financial Performance - In the first half of 2025, Lin Qingxuan achieved revenue of CNY 1.052 billion, a year-on-year increase of 98% [2] - Gross profit reached CNY 866 million, reflecting a 99.5% year-on-year growth, while net profit surged to CNY 182 million, up 110.16% year-on-year [2] Group 3: Market Position and Innovation - According to Zhaoshang Consulting, Lin Qingxuan ranks first among high-end domestic skincare brands in China by retail sales in 2024, being the only domestic brand in the top 15 high-end skincare brands [3] - The company has increased its R&D investment, resulting in over 600 formula achievements and 87 patents, including 46 invention patents [3] Group 4: Strategic Initiatives - The release of the "Three-Year Action Plan for the Improvement of Quality Management System in Cosmetic Enterprises (2026-2028)" aligns with Lin Qingxuan's strategic development of high-altitude Camellia flower bases in Zhejiang and Jiangxi, creating a competitive barrier [3] - The founder, Sun Laichun, indicated plans to enhance R&D in skin science, botany, and cutting-edge skincare technologies, while also optimizing key products for better consumer experience and shareholder value [3]

Core Viewpoint - The successful acquisition of the first domestic manned airship production license (PC certificate) for the "Xiangyun" AS700 marks a significant milestone for China's aviation industry, paving the way for mass production and commercial operation of domestically developed airships [1] Group 1 - The "Xiangyun" AS700 manned airship has received the first production license issued by the Civil Aviation Administration of China, indicating its readiness for mass production [1] - This achievement establishes a solid foundation for the large-scale delivery and commercial operation of domestic manned airships [1] - The airship had previously obtained the type certificate (TC) in December 2023, completing the regulatory framework from design approval to production approval [1]

Core Viewpoint - Lin Qingxuan officially listed on the Hong Kong Stock Exchange on December 30, 2023, marking its position as the first high-end domestic skincare brand in the Hong Kong market [1][2]. Company Overview - Lin Qingxuan, founded in 2003, is known for its "oil-based skincare" approach, with its Camellia Oil Essence being a core product since its launch in 2014 [1]. - The company has expanded its brand portfolio to include Xiaoxin Xuan and Huai Piao Zhuang, targeting younger consumers and community beauty services respectively [1]. Financial Performance - For the first half of 2025, Lin Qingxuan reported revenue of 1.052 billion yuan, a significant increase of 98% year-on-year; gross profit reached 866 million yuan, up 99.5%; and net profit was 182 million yuan, reflecting a 110.16% increase [1]. - The company has achieved cumulative sales of over 50 million bottles of its Camellia Oil Essence, which has been the top-selling facial oil product in China for 11 consecutive years [2]. Market Position - Lin Qingxuan ranks first among high-end domestic skincare brands in China with a market share of 1.4%, and is the only domestic brand among the top 15 high-end skincare brands [3]. - The high-end skincare market in China is projected to reach 114.4 billion yuan in 2024, with the anti-wrinkle cosmetics market expected to grow to 260.24 billion yuan, accounting for 33.59% of the total cosmetics market [3]. Innovation and R&D - The company has over 600 formula achievements and 87 patents, including 46 invention patents, focusing on key areas such as Camellia ingredient extraction and anti-wrinkle technology [2]. - Lin Qingxuan has been recognized as a leading brand in "cell-level anti-wrinkle" technology, confirming its market position through a collaborative project with the Beauty Industry Research Institute [3]. Strategic Direction - The listing is seen as a new starting point for Lin Qingxuan to enhance its multi-brand and global expansion strategy, which will require improved supply chain capabilities and brand management [5]. - The company aims to strengthen its brand building and retail store layout while continuing to invest in research and development in skincare technology [2][5].

与周其仁老师在致福轩会议室 2019年7月28日，在完成与DPS博士班四届52位同学一起在纽约美国福坦莫大学商学院三周课程学习工作之后，我从纽约纽瓦克机场乘国航航班返回北 京。万里高空，长途飞行，让我能有更多的时间读书和思考。打开手机Kindle电子版，重新读了四篇周其仁老师的经典文章："研究真实世界的经济学--- 科斯研究经济学方法及其在中国的实践"（周其仁,1997,P313-326)；" 改革30年感言"（周其仁,2008-1）；"邓小平做对了什么？---在芝加哥大学"中国改革 30年讨论会"上的发言"（周其仁,2008-2)；"公司理论与中国改革"（周其仁,2008-3)。对理解周其仁老师的研究方法论有了新的认识。 汪丁丁老师在其新著《思想史基本问题》一书中写道："以我神秘主义的感觉：思想是感悟的结果，学术是方法的结果"（汪丁丁,2019,P36）。 周老师在介绍科斯1937年"企业的性质"的论文时指出，这篇传世且因此获得1991年诺贝尔经济学奖的论文恰恰是从研究经济学的方法开篇，科斯指出过去 的经济理论"一直因未能清楚地说明其假设而备受困扰"；许多经济学家在建立一种经济理论时，"常常忽略对其赖以成立 ...

Core Viewpoint - Wuyi Vision Digital Twin Technology Co., Ltd. has successfully listed on the Hong Kong Stock Exchange, marking it as the first "Physical AI" stock in China, with a strong market response on its debut day [2] Group 1: IPO Details - Wuyi Vision's stock opened at HKD 35, a 14.75% increase from the issue price of HKD 30.5, with a market capitalization exceeding HKD 14 billion at one point [2] - The company issued a total of 23,975,200 shares, raising a total of HKD 731 million during the IPO [2] - The public offering in Hong Kong was oversubscribed by 258 times, attracting a diverse range of investors including long-term funds, hedge funds, and strategic investors [2] Group 2: Company Background - Founded in February 2015, Wuyi Vision focuses on digital twin technology, investing heavily in 3D graphics, simulation, and artificial intelligence [2] - The company has developed three core business platforms: 51Aes (Digital Twin Platform), 51Sim (Intelligent Driving Simulation Platform), and 51Earth (Digital Earth Platform) [2] - Wuyi Vision has a strong backing from notable investors including Lightspeed, Yunjiu, Star VC, and SenseTime, as well as individual investors like Ge Weidong [2] Group 3: Financial Performance - The company reported revenues of CNY 170 million, CNY 256 million, CNY 287 million, and CNY 54 million for the years 2022 to 2024 and the first half of 2025, respectively [3] - Adjusted net losses were CNY 132 million, CNY 68 million, CNY 43 million, and CNY 67 million for the same periods [3]

经查，况顺航丧失理想信念，背离初心使命，对抗组织审查；无视中央八项规定精神，接受可能影响公 正执行公务的宴请；违背组织原则，违规为他人谋取人事利益并收受财物；违反国家法律法规，赌博； 将公权力当作攫取私利的工具，大搞权钱交易，利用职务便利为他人在项目承接、工程款拨付等方面谋 取利益，并非法收受巨额财物。 况顺航严重违反党的政治纪律、组织纪律和生活纪律，构成严重职务违法并涉嫌受贿犯罪，且在党的十 八大后不收敛、不收手，性质严重，影响恶劣，应予严肃处理。依据《中国共产党纪律处分条例》《中 华人民共和国监察法》《中华人民共和国公职人员政务处分法》等有关规定，经贵州省纪委常委会会议 研究并报贵州省委批准，决定给予况顺航开除党籍处分；由贵州省监委给予其开除公职处分；收缴其违 纪违法所得；将其涉嫌犯罪问题移送检察机关依法审查起诉，所涉财物一并移送。 经济观察网 12月30日，中央纪委国家监委网站通报，据贵州省纪委监委消息：经贵州省委批准，贵州 省纪委监委对贵州省国防动员办公室原党组书记、主任，省人民防空办公室原主任，省发展和改革委员 会原党组成员、副主任（兼）况顺航严重违纪违法问题进行了立案审查调查。 ...

经济观察网12月30日，自然资源部召开12月份例行新闻发布会。自然资源部国土测绘司司长陈军介绍， 我国初步建成实景三维中国，支撑数字中国建设。他表示，实景三维中国是数字中国的重要基础要素， 为数字经济、智慧城市提供统一的时空基底。通过技术集成和数据整合，自然资源部建立了从设计、建 设到应用的实景三维技术体系，构建了由地理实体、地理场景、地理实景等组成的系列实景三维数据成 果。宏观层面，地形级实景三维实现大场景三维数字映射，5米、10米格网等系列产品覆盖全国陆地国 土，1:1万数据覆盖70%陆地国土。中观层面，城市级实景三维对城市三维空间进行数字映射，300余个 地级以上城市完成LOD1.3三维模型生产，67个城市开展智慧城市时空大数据平台建设试点，助推城市 全域数字化转型。搭建了100多种应用场景，涵盖灾害防治、智慧交通、智慧文旅等，为经济社会发 展、百姓日常生活、数字生态文明建设和智慧城市发展提供有力支撑。 ...

经济观察网12月29日，由杭州碧澄能源发展有限公司作为原始权益人，洛能(杭州)股权投资有限公司担 任资产管理顾问和财务管理顾问的首单分布式清洁能源资产机构间REITs(以下简称"碧澄能源机构间 REITs")在深圳证券交易所成功设立，产品名称为"兴证基实-碧澄能发新能源持有型不动产资产支持专 项计划(碳中和)"。 该产品的期限为24年，底层资产为工商业分布式光伏项目。产品认购方包括保险、信托、证券和资产管 理公司等专业投资机构，体现了资本市场机构投资者对优质绿色基础设施资产的广泛认可、长期信心与 价值共识。在"双碳"目标持续推进、能源结构转型步入深水区的背景下，如何为巨量的绿色能源基础设 施注入金融活水，成为行业与监管共同面对的课题。碧澄能源机构间REITs的落地，提供了一种新的解 题思路。该产品的底层资产穿透后，直接对应碧澄能源多个已稳定运营的工商业分布式光伏项目所产生 的收益权。这重设计，让此次设立超越了单纯的融资行为。 碧澄能源联席总裁兼CFO严驰晨透露，此次碧澄能源机构间REITs成功设立，是公司成立之初规划的关 键战略落地，标志着新能源资产正式进入标准化、证券化阶段，实现了从"项目开发"到"资产上市 ...

在全党全国深入学习贯彻党的二十届四中全会精神，收官"十四五"、开局"十五五"的关键时期，12月30 日，国家电网有限公司蒙西—京津冀±800千伏特高压直流输电工程（以下简称蒙西—京津冀工程）正 式开工建设。工程建成投运后，将进一步服务内蒙古"沙戈荒"新能源基地开发利用，为京津冀协同发展 注入更多绿色动能。 能源保障和安全事关国计民生，是须臾不可忽视的"国之大者"。《中共中央关于制定国民经济和社会发 展第十五个五年规划的建议》提出"着力构建新型电力系统，建设能源强国"。中央经济工作会议对"制 定能源强国建设规划纲要，加快新型能源体系建设，扩大绿电应用"等作出部署。当前，我国正加大力 度规划建设"沙戈荒"新能源基地，优化能源资源开发利用布局，促进区域协调发展，加快建设全国统一 电力市场，推动能源电力高质量发展。 作为履行国家战略使命的国有重点企业、保障国家能源安全的电力骨干企业、服务国计民生的公用事业 企业，国家电网公司深入贯彻党的二十大和二十届历次全会精神，充分认识肩负的职责使命，聚焦主责 主业，发挥央企在国民经济中的骨干和支柱作用，在迈向"十五五"新征程的关键时期，开工建设蒙西— 京津冀工程，以实际行动服务国 ...