2025.09.29 本文字数：1839，阅读时长大约3分钟 作者 |第一财经 齐琦 股价刚创新高，股东减持接踵而至。 9月26日，光模块龙头中际旭创（300308.SZ）发布公告称，公司控股股东中际投资计划未来三个月减持 公司股份不超过550万股，占公司总股本的0.49%。 就在近期，公司股价触及457元的历史新高，截至9月26日收盘报413.7元，若按照最新收盘价计，此次 减持套现金额约22亿元。 公司股价站上历史高位之际，控股股东选择"落袋为安"。这并非孤例。记者据Wind不完全统计，仅本 周末（9月26日至28日），A股市场就有100家上市公司密集发布减持公告，涉及硬件设备、半导体、医 药生物、消费等热门赛道。 且选择高位套现的股东不止中际投资一家。 公司9月17日晚间公告显示，7月1日至9月17日，特定股东苏州益兴福企业管理中心（有限合伙，下 称"益兴福"）及其一致行动人，总共减持该公司463.41万股，合计持股比例由9.417%减少至8.9999%。 按照三季度股价均值300元计，益兴福可能套现超10亿元。公开信息显示，益兴福的主要实际控制人之 一，就是中际旭创董事长、总裁刘圣。 机构持仓方面，截 ...

该公司的IPO申请于今年6月30日获得受理，回复两轮问询后，便于9月26日过会并提交注册。该公司此 次冲刺科创板，拟融资80亿元。 摩尔线程是国内极少数兼顾图形渲染与AI计算的国产GPU公司，其动态备受市场关注。不过，该公司 也在招股说明书中称，公司与英伟达等国际巨头相比，在综合研发实力、核心技术积累、产品客户生态 等方面仍存在一定的差距。 摩尔线程IPO上会消息此前一度引爆相关概念股行情。对此，市场颇为关心，哪些上市公司参股或者有 合作关系？根据公开消息，和而泰（002402.SZ）、盈趣科技（002925.SZ）直接参股摩尔线程，还有些 上市公司的子公司持股摩尔线程；一些传闻有合作关系的公司则表示，基于保密原因不便透露。 2025.09.28 本文字数：2899，阅读时长大约5分钟 作者 |第一财经 黄思瑜 被称为"中国版英伟达"的摩尔线程智能科技（北京）股份有限公司（下称"摩尔线程"），从提交IPO申 请到过会并提交注册，只用了88天，正向"注册关"冲刺，成为全市场近期最关注的一件事。 与国际龙头仍存差距 摩尔线程成立于2020年6月，主要从事GPU（图形处理器）及相关产品的研发、设计和销售。 此次IP ...

Group 1 - The core point of the article is that Baiyunshan has initiated a significant strategic investment project following a leadership change, involving the acquisition of a stake in Nanjing Pharmaceutical [2][3] - Baiyunshan's subsidiary, Guangzhou Guangyao Phase II Fund, plans to invest 749 million yuan to acquire 145 million non-restricted shares of Nanjing Pharmaceutical, representing 11.04% of its total shares [2] - The acquisition price of 5.18 yuan per share reflects a premium of approximately 6.15% over Nanjing Pharmaceutical's closing price of 4.88 yuan on September 26 [2] Group 2 - A strategic investment agreement was signed on September 28, focusing on capital cooperation, distribution channel collaboration, and traditional Chinese medicine cooperation [3] - Baiyunshan and Nanjing Pharmaceutical will work together to develop market expansion and channel sharing plans, optimizing supply chain resources and logistics networks [3] - Both companies have similar business layouts, with Baiyunshan's Guangzhou Pharmaceutical being a leading player in South China's pharmaceutical distribution, while Nanjing Pharmaceutical is a leader in Jiangsu's pharmaceutical distribution [3] Group 3 - The pharmaceutical distribution industry is experiencing significant consolidation, with the top ten companies projected to hold an 82% market share by 2025 [4] - Baiyunshan believes this transaction will enhance its business cooperation with Nanjing Pharmaceutical, optimize regional industrial layout, and strengthen its competitive advantage in pharmaceutical distribution [4]

Core Viewpoint - The event "2025 Green Point China" held in Shanghai focused on sustainable business practices and their role in driving high-quality economic development in China, emphasizing the importance of green initiatives for corporate resilience and competitiveness in an uncertain global economy [1][3][5]. Group 1: Event Overview - The event gathered leaders and experts from policy research, industry, academia, and NGOs to discuss the future of sustainable business [1]. - The "2025 Green Point China" initiative released several key sustainability case studies, including the "Annual Sustainable Practice Case" and "Green Pioneer Case" [1][13]. Group 2: Economic Context - The global economic recovery remains uneven, with inflation and interest rate fluctuations complicating corporate decision-making [3]. - Climate disasters have led to record economic losses, highlighting the need for companies to adapt and find new growth drivers [3]. Group 3: Sustainable Business Insights - The concept of "sustainable business civilization" was discussed, emphasizing the need for companies to balance financial performance with social, environmental, and economic dimensions [7]. - Sustainable practices should be integrated into business models and product offerings to create value and engage consumers [9]. Group 4: Green Design and Innovation - Green design is identified as a crucial method for achieving sustainability, serving as a proactive approach rather than a remedial one [11]. - The importance of technological and social benefits in driving structural transformation in industries was highlighted [14]. Group 5: Case Studies and Trends - This year marked the fourth year of collecting sustainability cases, with 25 annual cases and several others recognized for their contributions [13]. - Trends observed include the need for businesses to collaborate across supply chains and focus on ecological considerations for long-term value [14]. Group 6: Industry Discussions - The forum included discussions on sustainable development paths in various industries, such as the automotive sector, exploring potential beyond electrification [16]. - The tourism industry is increasingly focusing on sustainable practices as a key direction for high-quality development [18]. Group 7: Consumer Education - There is a growing emphasis on educating consumers about sustainability, with companies investing resources to enhance awareness [20].

2025.09.28 8月11日早间，宁德时代在投资者互动平台表示，公司在宜春项目采矿许可证8月9日到期后已暂停了开 采作业，正按相关规定尽快办理采矿证延续申请，待获得批复后将尽早恢复生产。 龙蟠时代外采矿目前来看操作难度不小，上述知情人士表示，因为宁德时代枧下窝锂矿是江西宜春在产 规模最大的锂矿，其他矿虽然目前仍在开采，但都没法取代这部分产能。 根据中粮期货研究院报告，宜春自然资源局辖区内8座大型矿山的实际在产规模为4390万吨/年，而宁德 时代枧下窝锂矿未停产前的在产规模就达到3000万吨/年，占比超过68%。 龙蟠科技相关人士向第一财经记者表示，龙蟠时代九月仍在正常生产，之后生产情况取决于原材料的采 购情况。龙蟠时代现在也在积极拓展采购来源，包括一些省（江西省）外的矿，会尽最大的努力，把产 本文字数：919，阅读时长大约1.5分钟 作者 |第一财经 肖逸思 宁德时代（300750.SZ）宜春锂矿停产事宜，已经产生了连锁反应。 本周三晚上，第一财经记者从锂电业内人士处获悉，因为宁德时代宜春锂矿停止供应原材料，宁德时代 和龙蟠科技（603906.SH）合资公司龙蟠时代将在周四停产。 9月28日，记者实探位于 ...

Core Viewpoint - The rising gold prices have led to a surge in gold investment products, which are outperforming traditional financial products in terms of returns [2][10]. Group 1: Market Trends - As of September 28, there are 48 existing investment products linked to gold, with 16 of them being newly issued this year by various financial institutions [3]. - The issuance of gold-linked investment products has accelerated, with five new products launched in September alone [3][4]. - The annualized returns for gold investment products have been concentrated between 2.00% and 4.00%, significantly outperforming similar products [10]. Group 2: Product Characteristics - Recent gold investment products are diversifying beyond traditional gold price-linked models to include structured products with varying return structures [4][5]. - Two main types of gold-linked investment products have emerged: "fixed income + gold" and structured products linked to gold derivatives [3][5]. - The investment scope has expanded to include gold ETFs and gold-related stocks, enhancing the risk-return profile of these products [7]. Group 3: Investor Behavior - There is a growing demand for gold investment products, leading to a situation where many products are sold out shortly after launch [8]. - Investors are increasingly seeking higher returns, with many shifting from traditional fixed-income products to riskier gold-linked investments [8][10]. - Some investment products have reached their return targets early, prompting early termination and profit-taking [10]. Group 4: Future Outlook - Despite the current high prices, analysts remain optimistic about gold's long-term prospects due to geopolitical tensions and central bank purchasing [12]. - The market anticipates potential further interest rate cuts by the Federal Reserve, which could support gold prices in the medium to long term [11][12]. - Analysts predict that gold prices will remain high but may experience increased volatility in the near future [12].

上述知情人士指出，自2025年4月起，浙江娃哈哈饮用水有限公司不再有桶装水的销售经营权，而是成 为杭州迅尔城通商贸有限公司的一个代工厂，并且杭州迅尔城通商贸有限公司压低了结算价格，给予桶 装水公司2.75元/桶的加工费用，这导致浙江娃哈哈饮用水有限公司的利润大幅下滑。 记者从另两位知情人士处也确认了上述消息。上述知情人士透露，2024年底，娃哈哈集团董事长宗馥莉 要求将浙江娃哈哈饮用水有限公司的桶装水销售业务，转移到杭州迅尔城通商贸有限公司，方案于2025 年3月25日正式落地实施。2025年4月，在没有与经销商签订购销协议的情况下，要求经销商向杭州迅尔 城通商贸有限公司下订单，并实现了发货，开具发票，完成了实质性的业务转移。 据智通财经，9月27日，有知情人士向记者爆料称，不只娃哈哈上海工厂业务出现变动，浙江娃哈哈饮 用水有限公司的桶装水业务也出现变动。 ...

吉利汽车销售公司总经理范峻毅表示，燃油车的使用场景更加复杂，用户希望燃油车的智能辅助驾驶像 电动车那样聪明、可靠。奇瑞汽车股份有限公司常务副总裁张国忠也提出，没有落后的能源形式，只有 落后的技术与体验，技术升级是燃油车保持竞争力的关键。 在新能源汽车渗透率持续提升的背景下，传统燃油车市场正悄然展开一场以"智能化"为关键词的反击 战。 在智能化浪潮下，自主车企仍然十分重视燃油车市场。新上任的长安汽车执行副总裁杨大勇在本月初提 出，未来市场上仍有35%的客户将选择燃油车，基于这一预判，长安汽车仍然决定坚持深耕燃油车市 场。 吉利、奇瑞等多家主流车企近期密集推出新一代燃油车型，通过大幅提升智能驾驶、智能座舱等核心技 术，试图缩小与新能源汽车之间的体验差距。 市场数据也反映出燃油车基本盘的韧性。今年8月，国内传统燃油乘用车销量达90.2万辆，同比增长 13.5%，实现连续三个月正增长。吉利汽车上半年总销量突破140万辆，其中"中国星"系列燃油车销量逆 势同比增长21%，累计用户已超162万。 长期以来，传统燃油车在智能化方面的滞后成为用户用车体验中的主要短板。然而，这一局面正迎来实 质性转变。据工信部最新产品目录显示 ...

Group 1 - The State Council emphasizes the need to strengthen support for enterprises going abroad and improve the overseas comprehensive service system [2][3] - The China Council for the Promotion of International Trade (CCPIT) reports an increase in the willingness of Chinese enterprises to expand internationally, with a significant rise in the number of business groups going abroad for negotiations [2][3] - Since 2024, the CCPIT has organized 2,249 batches of groups to visit 102 countries and regions, averaging six business groups traveling abroad daily for discussions [2][3] Group 2 - The CCPIT plans to enhance service resources across legal, financial, and logistics sectors, and establish comprehensive service ports and stations in key countries [3][4] - The CCPIT has approved 1,623 overseas exhibition projects this year, with a planned exhibition area of 950,000 square meters, and has executed 970 projects involving over 34,000 participating enterprises [4] - The CCPIT has established partnerships with international organizations to enhance legal services for enterprises, handling over 400 foreign-related cases and 6,570 mediation cases this year [4][5] Group 3 - The CCPIT has organized multiple training sessions for enterprises going abroad and has responded to over 20,000 inquiries through its trade law service [5] - The global economic and trade friction index reached 110 in July, indicating a high level of trade tensions, particularly influenced by U.S. tariff policy adjustments [6] - The CCPIT reports that the trade friction measures involving 20 monitored countries have increased by 6.6% year-on-year and 27.6% month-on-month [6][7]

9月28日，王健林被"限高"冲上热搜。企查查相关信息显示，大连万达集团股份有限公司及其法定代表 人王健林被限制高消费。 关联案件审理流程显示，此前大连万达集团、万达地产集团有限公司、王健林等被强制执行1.86亿，执 行法院为甘肃省兰州市中级人民法院。 大连万达集团股份有限公司成立于1992年，法定代表人为王健林，注册资本10亿元人民币，由大连合兴 投资有限公司、王健林共同持股。 今年以来，大连万达集团旗下公司，频繁因司法纠纷被执行的信息。截至目前，大连万达集团股份有限 公司有10条被执行人信息，总金额52.62亿元，1条被限制高消费信息，同时还有38条"股权冻结"相关信 息。 此外，大连万达商业管理集团股份有限公司也有1条被执行人信息，被执行总金额295.9万元；万达地产 集团有限公司有423条被执行人信息，被执行总金额共计18.4亿元，其中失信被执行人共4条，涉案总金 额211.51万元。 合计来看，万达系各公司的被执行总金额已经超过70亿元。 稍早前，万达还频繁出现大额股权冻结情况，日前大连万达集团股份有限公司新增两则股权冻结信息， 标的企业为上海万达网络金融服务有限公司、上海万达小额贷款有限公司，冻结股 ...