● 本报记者 孟培嘉 从出库到完成精细分割、包装为成品仅需20多分钟，能最大限度保留金枪鱼的鲜度与营养成分、确保产 品达到国际生食甄选标准——中水渔业（000798）这套从"深海捕捞"到"百姓餐桌"的全程可追溯产业链 条背后，是中粮科工（301058）全资子公司华商国际工程有限公司为其打造的全方位管理系统。 "对行业工艺的把握是公司的核心竞争力。我们不仅可以做系统集成，同时以智能装备为支撑，'软硬结 合'为客户创造独有价值。"中粮科工总经理叶雄在接受记者采访时表示，公司正围绕"数字化、智慧 化、绿色化、产业化"的发展方向，持续提升行业竞争力。 创新打造金枪鱼加工管理系统 从冷库中"叠罗汉"式的堆压，到纸质单据间的低效流转，再到令人头疼的"串味"风险——这些流通环节 的痛点，暴露了金枪鱼产业在供应链整合、过程标准化与精细化管理上的不足。作为海洋经济的重要一 环，破解这些挑战，是提升整个产业价值与效率的关键。 "金枪鱼在-20℃环境下仅存放一周便会丧失鲜食标准。"华商国际机电院副院长吴邦喜说，要达到-60℃ 的超低温储运条件，则面临技术难度高、能耗大与环保问题的挑战。 华商国际以总承包EPC模式承接的中水金枪鱼研 ...

Core Viewpoint - Liu Yang, a seasoned entrepreneur in the biopharmaceutical sector, has acquired a controlling stake in Zhongfu Technology (300692) for 598 million yuan, marking a strategic shift from environmental protection to a dual focus on "environmental protection + biopharmaceuticals" [1][2]. Group 1: Strategic Intent - The acquisition is described as a strategic exploration rather than mere capital arbitrage, aiming to build a biopharmaceutical ecosystem while integrating environmental protection [2][3]. - Liu Yang emphasizes that both sectors share a core logic of responsibility for life and health, aligning with national goals for carbon neutrality and the need for traditional environmental firms to seek new growth avenues [2]. Group 2: Governance and Transition - The previous controlling shareholder, Zhang Bozhong, relinquished some voting rights to ensure a smooth transition of control, highlighting a shared vision for the company's future beyond traditional environmental services [3]. - Liu Yang and Zhang Bozhong have reached a consensus on strategic direction, governance structure, and value creation, focusing on a dual-driven approach to overcome development bottlenecks [3]. Group 3: Business Development Plans - Liu Yang plans to upgrade existing environmental operations rather than replace them, aiming for improved management, asset structure, and operational efficiency to ensure stable cash flow and shareholder returns [4]. - The establishment of a wholly-owned subsidiary, Dingfu Pharmaceutical, will serve as the platform for implementing biopharmaceutical strategies, focusing on innovative projects with global commercialization potential [4][5]. Group 4: Capital Operations - The company is preparing for a targeted capital increase directed at Liu Yang, which will reinforce control and provide funding for new industry ventures [5]. - The recent rebranding from "Zhonghuan Environmental" to "Zhongfu Technology" reflects a commitment to biopharmaceuticals and strategic transformation [5]. Group 5: Long-term Vision - Liu Yang acknowledges the challenges of traditional enterprises entering new industries, stressing the importance of creating a genuine value ecosystem and avoiding superficial business overlaps [6]. - The company aims to enhance the quality of its environmental business while accelerating the industrialization of its biopharmaceutical segment, establishing a comprehensive business system for sustainable growth [7]. - Liu Yang envisions Zhongfu Technology evolving into a comprehensive technology platform that bridges green economy and life sciences, contributing to high-quality industrial development and maximizing shareholder value [8].

Group 1 - The consumer and photovoltaic sectors saw significant gains last week, with several related ETFs rising over 3% [1][2] - The A-share market's broad-based products experienced active trading, with ETFs tracking the CSI A500 index exceeding a total transaction volume of 250 billion yuan [1][2] - The market outlook for February suggests a continuation of the upward trend, driven by concentrated earnings forecasts and the recovery of leading companies' performance [1][4] Group 2 - The Hong Kong consumer sector performed strongly, with ETFs such as the Hang Seng Consumer ETF leading the gains [2] - Gold-related ETFs faced a downturn, with an average decline of over 5% across 14 commodity gold ETFs, and some gold stock ETFs dropping more than 13% [2] - The technology sector attracted significant capital inflow, with the Huatai-PineBridge Hang Seng Technology ETF seeing a net inflow of over 3.8 billion yuan last week [3] Group 3 - Several asset management institutions have released macro outlooks for China's equity market in 2026, highlighting diverse growth paths driven by the 14th Five-Year Plan [4][5] - Key investment areas identified include technology, manufacturing, renewable energy, healthcare, and emerging consumer sectors [4][5] - The market is expected to maintain a structural trend in February, with a focus on core growth assets that are currently at historical median valuation levels [5]

Core Viewpoint - Tongbao Optoelectronics is a domestic automotive electronics "small giant" enterprise, focusing on the research, production, and sales of automotive electronic components, with a public offering price of 16.17 yuan per share and a price-to-earnings ratio of 14.99 times [2]. Company Overview - Tongbao Optoelectronics specializes in automotive electronic components, including automotive lighting systems, electronic control systems, and energy management systems. Its main products are LED car lamp modules, driving controllers, and complete lamp assemblies, serving major automotive manufacturers such as SAIC-GM-Wuling, GAC Aion, and Dongfeng Nissan [2]. - The company has a strong emphasis on technological research and product innovation, holding 79 patents, including 18 invention patents, and has led the drafting of industry standards for automotive LED modules [2]. Industry Recognition - Tongbao Optoelectronics has been recognized as a national-level specialized and innovative "small giant" enterprise and has received various accolades, including being designated as a provincial industrial design center and a technology center in Jiangsu Province [2]. Financial Performance - The projected revenues for Tongbao Optoelectronics are 390 million yuan in 2022, 529 million yuan in 2023, 588 million yuan in 2024, and 717 million yuan in 2025. The net profits are expected to be 37 million yuan, 62 million yuan, 83 million yuan, and 80 million yuan for the respective years [3].

Core Viewpoint - Liu Yang, a seasoned entrepreneur in the biopharmaceutical sector, has acquired a controlling stake in Zhongfu Technology for 598 million yuan, marking a strategic shift from environmental protection to a dual focus on "environmental protection + biopharmaceuticals" [1][2] Group 1: Strategic Intent - The acquisition is described as a strategic exploration rather than mere capital arbitrage, aiming to build a biopharmaceutical ecosystem while integrating environmental protection [2][3] - Liu Yang emphasizes the shared core logic of "responsibility for life and health" between environmental protection and biopharmaceuticals, suggesting that both sectors can benefit from collaboration [2] Group 2: Governance and Control - The previous controlling shareholder, Zhang Bozhong, relinquished some voting rights to ensure a smooth transition of control, highlighting a mutual understanding of strategic direction and governance [3] - Liu Yang and Zhang Bozhong have reached a consensus on the future direction of Zhongfu Technology, focusing on a dual-driven approach to overcome development bottlenecks [3] Group 3: Business Development Strategy - Liu Yang plans to upgrade existing environmental protection operations rather than replace them, aiming for improved management and operational efficiency to ensure stable cash flow [4] - The company has established a wholly-owned subsidiary, Dingfu Pharmaceutical, to implement its biopharmaceutical strategy, focusing on high-potential projects with global commercialization capabilities [4] Group 4: Capital Operations - The company is preparing a targeted private placement to Liu Yang, which will strengthen control and provide funding for new industry initiatives [5] - The recent name change from "Zhonghuan Environmental Protection" to "Zhongfu Technology" reflects the commitment to biopharmaceuticals and strategic transformation [5] Group 5: Long-term Vision - Liu Yang outlines a clear vision for the next 3-5 years, focusing on enhancing the quality of environmental operations and accelerating the industrialization of the biopharmaceutical sector [7] - The goal is to transform Zhongfu Technology into a comprehensive technology platform that spans green economy and life sciences, contributing to high-quality industrial development and maximizing shareholder value [7]

今年1月，国务院出台《固体废物 综合 治理行动计划》，提出到2030年重点领域固体废物专项整治取得 明显成效。 国盛证券 研报认为，固体废物治理要求按照减量化、资源化、无害化原则，构建覆盖源头 减量、过程管控、末端利用和无害化管理的综合治理体系，对 固废处理 等领域产生直接利好。 数据显示，A股已有74家 节能环保 类上市公司披露2025年业绩预告，其中45家公司净利润预计实现同 比增长（含18家预计减亏公司）。在绿色转型背景下，围绕能源管理、低碳园区服务的节能环保类公司 迎来发展机遇，部分资源再生公司通过市场拓展与技术创新实现业绩预增，一些公司通过提升运营效 率、优化管理实现降本增效。 把握绿色转型机遇 截至2月6日，在A股132家节能环保类上市公司中，已有74家公司披露2025年业绩预告。其中，31家公 司预告2025年净利润为正，在已披露公司中占比41.9%；45家公司预计净利润实现同比增长（含18家预 计减亏公司），占比60.8%。 南网能源 预计2025年净利润为3.0亿元至3.6亿元，上年净亏损为5812.6万元，业绩增长的主要原因是公 司节能业务板块巩固拓展，经营收入稳定增长；存量低效资产综合治 ...

国家数据局2月7日消息，国家数据局、工业和信息化部、公安部、证监会日前联合发布的《关于培育数 据流通服务机构加快推进数据要素市场化价值化的意见》提出，支持经营主体依托数据交易所（中 心）、数据流通服务平台企业等第三方开展数据供需对接和交付结算，降低数据流通交易成本，促进更 大范围数据流通交易。 意见提出，到2029年底，数据流通服务机构能力显著提升，流通交易形态更加多元，数据产品和服务更 加丰富，各类主体供数用数意愿持续增强，全社会数据流通利用水平明显提高。 数据流通服务机构是链接数据供需双方，促进数据流通交易，推进数据要素市场化价值化的重要主体， 包括数据交易所（中心）、数据流通服务平台企业、数据商等。 意见表示，探索多样化流通交易模式。引导经营主体之间数据交换交易模式合规健康发展，鼓励各类主 体拓展数据换数据、换订单、换服务、换模型、换场景等交换方式，探索数据作价出资等数据价值实现 新路径。支持经营主体依托数据交易所（中心）、数据流通服务平台企业等第三方开展数据供需对接和 交付结算，降低数据流通交易成本，促进更大范围数据流通交易。 意见提出，创新数据产品和服务形态。聚焦数据赋能科技创新、产业发展、社会治理 ...

● 本报记者何昱璞 随着国家电网公司"十五五"期间4万亿元投资蓝图的发布，一条条跨越千里的电力"主动脉"进入密集建 设期。日前，新疆维吾尔自治区发展改革委发布公告，公开征集民营企业参与疆电(南疆)送电川渝特高 压直流工程投资。业内人士表示，这一举措也标志着我国特高压建设正积极探索更加多元化的投融资模 式，为行业发展注入新的动力，相关产业链上市公司有望受益。 政策持续支持 在国家能源战略的明确指引下，特高压建设已进入系统化、规模化推进的新阶段。 2025年以来，国家发改委、国家能源局等多部门出台系列配套政策，在项目审批、用地、环评等关键环 节为特高压工程开辟"绿色通道"。目前，大同—怀来—天津南、蒙西—京津冀等特高压工程已进入施工 高峰；浙江特高压交流环网、攀西特高压交流等工程前期工作加快推进，预计将于2026年上半年集中开 工建设。 国家电网数据显示，截至2025年底，我国已累计建成特高压工程42项，华东、华北、华中、西南地区特 高压交流骨干网架已基本形成，能源资源配置能力与系统韧性显著增强。业内人士分析称，随着大型风 光基地陆续投产，配套外送通道的建设需求将持续释放，未来三年特高压项目将迎来核准与开工的高峰 ...

聚焦科技投资 中国证券报：可以分享一下你的从业经历吗？有没有印象特别深的阶段？ 蔡荣成：我2015年毕业就来到了易方达基金，算下来工作10年多了。大的市场行情周期我大概经历了三 轮，印象最深刻的是几次外界扰动带来的市场波动，这对所有科技领域的投资者都是一场考验。你必须 不断问自己，内心最相信的是什么？相不相信企业的价值？相不相信国内科技行业和高端制造业有足够 强的全球竞争壁垒和能力？每次面临大幅波动的时候，这些问题都会反复叩击内心。 中国证券报：你所管理的产品主要聚焦科技行业投资，在过往几次外界扰动因素引发市场波动的阶段， 科技股的股价波动是不是特别大？ 蔡荣成：波动确实挺大的。一方面，很多科技企业属于外向型出口行业，对外敞口高，外界扰动因素直 接影响业绩预期；另一方面，我们的科技产业正处在全球竞争力提升的关键期，在全球视野下和国际巨 头同台竞技，这个过程本身就充满不确定性，大的市场波动难以避免。 □本报记者张韵 "面对这场快速发展的科技浪潮，我是既兴奋又恐惧。"易方达基金的基金经理蔡荣成在接受中国证券报 记者专访时表示，近年来，人工智能(AI)科技浪潮来势汹汹，越来越多的人才和资本加速涌入，它很可 能将是一 ...

Core Insights - A total of 123 companies listed on the Beijing Stock Exchange have disclosed their 2025 annual performance forecasts, showing significant performance differentiation, with 40 companies expecting positive results [1] - Among the positive performers, 24 companies anticipate profit growth, 13 companies expect to turn losses into profits, and 3 companies foresee slight increases, driven by technological innovation, market expansion, and operational optimization [1] Group 1: Companies with Expected Profit Growth - Twelve companies, including Hongyu Packaging, Huiwei Intelligent, and Haineng Technology, are projected to have a net profit growth exceeding 100% in 2025, benefiting from enhanced core competitiveness and industry development dividends [2] - Hongyu Packaging expects a net profit of 17 million to 22 million, representing a year-on-year increase of 357.91% to 492.59%, attributed to optimized customer and product structure, cost reduction, and improved operational efficiency [2] - Haineng Technology anticipates a net profit of 41 million to 44 million, with a growth of 213.65% to 236.61%, driven by demand recovery in the industry and continuous investment in high-end product development [2] Group 2: Companies Turning Losses into Profits - Thirteen companies, including Lierda, Chunguang Intelligent, and Zhongcheng Technology, have successfully turned losses into profits through targeted operational strategies [3] - Lierda expects a net profit of 35 million to 50 million, recovering from a loss of 109 million the previous year, with growth driven by R&D investment in IoT solutions and improved cash flow management [3] - Qidi Dairy is projected to achieve a net profit of 41 million to 53 million, recovering from a loss of 769,510 the previous year, aided by the successful implementation of fundraising projects [4] Group 3: Companies Facing Performance Pressure - Some companies are experiencing performance pressure due to external factors like industry cycle adjustments and raw material price fluctuations, as well as internal factors such as increased R&D investment and business structure adjustments [6] - Weibo Hydraulic and Kerun Intelligent are facing performance declines due to rising raw material prices, with plans to expand sales markets and enhance internal management [6] - Companies like Nacronor and Beiyikang are also under pressure, with strategies focused on cost reduction, market expansion, and product commercialization to improve profitability [6][7]