Core Viewpoint - The article highlights the successful implementation of photovoltaic (PV) technology in combating desertification in the Kubuqi Desert, Inner Mongolia, showcasing its dual benefits of energy generation and ecological restoration [1][4]. Group 1: Project Overview - The Kubuqi Desert PV project, initiated in June 2022, is expected to generate an average of 4.1 billion kilowatt-hours of electricity annually, equivalent to saving 1.23 million tons of standard coal and reducing carbon dioxide emissions by 3.198 million tons [1]. - The project also aims to alleviate sediment load in the Yellow River by 2 million tons each year [1]. Group 2: Economic Impact - Local farmers have benefited economically from the PV project, with one farmer reporting an income of 50,000 yuan from cultivating vegetables on 12 acres of land under the PV panels [1]. - The organic tomatoes grown under the PV panels can be sold for at least 20 yuan per kilogram in Shanghai, indicating a profitable agricultural venture [1]. Group 3: Environmental Benefits - The PV panels serve multiple functions: stabilizing sand, conserving water, and creating a microclimate conducive to plant growth, thus promoting sustainable desert management [3]. - The integration of solar water pumps and precision drip irrigation has effectively addressed irrigation challenges in arid regions [4]. Group 4: Future Developments - The city of Ordos is planning to establish a "PV Great Wall" for desertification control, which will also serve as a green energy corridor, contributing to energy transition and local economic benefits [4].

Core Viewpoint - The event "Celebrating Harvest Festival and Ordos Wine Industry Supporting Rural Revitalization" highlights the commitment of Ordos Wine Industry to promote regional development through cultural and agricultural integration [1][2] Group 1: Event Highlights - The event featured performances by local artists, including songs that celebrate the culture and heritage of the grasslands, enhancing the festive atmosphere [1] - A significant "Autumn Brewing Sealing Ceremony" took place, symbolizing the joy of harvest and the commitment to quality craftsmanship, with the first batch of 2025 autumn brewed raw liquor sealed in a ceramic jar [1] Group 2: Industry Developments - The event included the unveiling of a modern brewing workshop and a "Ten Thousand Ton Ceramic Jar Wine Cellar," showcasing advancements in the Ordos wine production process [2] - The establishment of the "Ordos Wine Public Welfare Fund" marks a new step for Ordos Wine Industry in the field of charity, indicating a focus on social responsibility alongside business growth [2] - The "Mongolian Wine Culture Research Institute" was also inaugurated, emphasizing the importance of cultural heritage in the development of the Ordos wine brand [2]

Market Overview - On September 25, the steel raw materials sector rose by 0.27% compared to the previous trading day, with Hebei Steel Resources leading the gains [1] - The Shanghai Composite Index closed at 3853.3, down 0.01%, while the Shenzhen Component Index closed at 13445.9, up 0.67% [1] Individual Stock Performance - Hebei Steel Resources (000923) closed at 15.60, up 1.89% with a trading volume of 165,000 shares and a turnover of 258 million yuan [1] - Dazhong Mining (001203) closed at 11.75, up 1.47% with a trading volume of 112,900 shares and a turnover of 132 million yuan [1] - Ordos (600295) closed at 10.05, up 1.11% with a trading volume of 122,200 shares and a turnover of 124 million yuan [1] - Fangda Carbon (600516) closed at 5.11, up 0.39% with a trading volume of 385,500 shares and a turnover of 28.86 million yuan [1] - Hainan Mining (696109) closed at 8.03, down 0.37% with a trading volume of 144,100 shares and a turnover of 117 million yuan [1] - Steel Titanium Co. (000629) closed at 2.81, down 0.71% with a trading volume of 821,700 shares and a turnover of 232 million yuan [1] - Denglai Mining (000655) closed at 8.47, down 0.94% with a trading volume of 103,200 shares and a turnover of 88.52 million yuan [1] - Baodi Mining (601121) closed at 6.59, down 1.05% with a trading volume of 94,100 shares and a turnover of 62.69 million yuan [1] - Guangdong Mingzhu (600382) closed at 5.87, down 1.34% with a trading volume of 54,300 shares and a turnover of 32.20 million yuan [1] Capital Flow Analysis - The steel raw materials sector experienced a net outflow of 5.86 million yuan from main funds, while retail funds saw a net inflow of 24.86 million yuan [1] - Dazhong Mining had a main fund net inflow of 11.21 million yuan, but retail funds saw a net outflow of 5.41 million yuan [2] - Hebei Steel Resources had a main fund net inflow of 11.19 million yuan, with retail funds experiencing a net outflow of 13.85 million yuan [2] - Fangda Carbon had a main fund net inflow of 3.23 million yuan, while retail funds saw a net outflow of 3.51 million yuan [2] - Hainan Mining had a main fund net inflow of 2.62 million yuan, but retail funds experienced a net outflow of 5.96 million yuan [2] - Ordos had a main fund net outflow of 4.36 million yuan, with retail funds seeing a net inflow of 2.24 million yuan [2] - Denglai Mining had a significant main fund net outflow of 8.97 million yuan, while retail funds saw a net inflow of 2.47 million yuan [2] - Steel Titanium Co. had a main fund net outflow of 20.50 million yuan, but retail funds experienced a net inflow of 4.45 million yuan [2]

Group 1 - The stock price of Erdos increased by 2.01% on September 25, reaching 10.14 CNY per share, with a trading volume of 18.28 million CNY and a market capitalization of 28.38 billion CNY [1] - Year-to-date, Erdos's stock price has risen by 10.70%, with a 3.79% increase over the last five trading days, a 0.98% decrease over the last 20 days, and a 14.32% increase over the last 60 days [2] - As of June 30, 2025, Erdos had 58,300 shareholders, an increase of 0.12% from the previous period, with an average of 0 circulating shares per shareholder [2] Group 2 - Erdos's main business revenue composition includes: silicon iron (37.05%), PVC resin (18.59%), clothing (13.60%), caustic soda (7.78%), and others [2] - The company has distributed a total of 12.59 billion CNY in dividends since its A-share listing, with 5.92 billion CNY distributed in the last three years [3] - As of June 30, 2025, major shareholders include Huatai-PB Shanghai Composite Dividend ETF, which holds 41.74 million shares, a decrease of 8.52 million shares from the previous period [3]

Group 1 - The core viewpoint of the article emphasizes the importance of the ninth round of inspections by the Ordos Municipal Party Committee, which aims to enhance political supervision and ensure the implementation of the Party's policies at the grassroots level [1][2]. - Five inspection teams will conduct regular inspections of 12 educational administrative departments, higher vocational colleges, primary and secondary schools, two public institutions, and one state-owned enterprise [1]. - The inspection teams will focus on key areas such as the responsibilities of the inspected Party organizations, the leadership, and the implementation of the Party's decisions at the grassroots level, as well as addressing issues of corruption and misconduct [2]. Group 2 - The inspection period is approximately 100 days, during which a dedicated hotline and postal address will be established to receive reports regarding violations of political, organizational, and disciplinary regulations [2]. - The deadline for receiving complaints is set for December 24, 2025, indicating a long-term commitment to oversight and accountability [2].

Core Viewpoint - The "Great River Music Festival" in Inner Mongolia's Ordos City aims to create a vibrant cultural experience during the National Day and Mid-Autumn Festival, featuring diverse musical performances and interactive activities [1][2] Group 1: Event Details - The "Great River Music Festival" will take place from October 1 to 8 at the "Bay Night District" water stage and Silver Diamond Square, showcasing a variety of performances each day [1] - The opening ceremony on October 1 will include a mass singing of classic patriotic songs, followed by a night performance featuring a light show and drone fireworks [1] Group 2: Musical Diversity - The festival will break traditional stage boundaries, offering a blend of musical styles including traditional Mongolian instruments, contemporary pop, rock, and electronic music [2] - Evening events will include a community bonfire gathering after the "Impression·Zhungr" live performance, inviting all visitors to participate [2] Group 3: Venue Highlights - The "Bay Night District" features a unique water stage and a water plane for visitors to explore, enhanced by modern lighting art to create an immersive performance space [2] - Attendees can enjoy the scenic beauty of the Yellow River while experiencing a multi-sensory journey through sound and light [2] Group 4: Additional Activities - The festival will coincide with various other events such as tug-of-war competitions, street dance challenges, robot competitions, and traditional craft showcases, providing a full-day cultural experience [2]

Core Insights - The article highlights the successful ecological restoration and economic development in the Kubuqi Desert, with a governance model that integrates various methods such as road construction, photovoltaic technology, and engineering solutions to combat desertification [1][3]. Group 1: Ecological Restoration Efforts - The Kubuqi Desert, covering an area of 14,100 square kilometers, has seen significant ecological improvements, with over 6,000 square kilometers treated, achieving a governance rate of 40% since the start of the 14th Five-Year Plan [1]. - The integration of road construction with desertification control projects has led to the establishment of over 4,000 kilometers of desert-crossing roads, facilitating the management of 4 million acres of land against desertification [3][6]. Group 2: Technological Innovations - The use of high-capacity drones for aerial seeding has increased efficiency and reduced costs in desert reclamation efforts, with approximately 130,000 acres seeded using this technology from June to September [5]. - The city has adopted various advanced technologies, including water-injection planting and biodegradable containers, to enhance the speed and effectiveness of desert management [5]. Group 3: Economic Development and Community Benefits - The local economy has benefited from ecological restoration, with families in the region reporting annual incomes between 150,000 to 200,000 yuan, largely from tourism and agricultural activities [7]. - The development of over 500 family forest (grass) farms has resulted in a total ecological coverage of over 2 million acres, contributing to both ecological and economic benefits [7][8]. - The annual output value of the forestry and grass industry in the city is projected to reach 7.5 billion yuan by 2024, driven by the cultivation of biomass green methanol and other key industries [8].

Group 1 - The core viewpoint emphasizes the integration of party leadership with grassroots governance, enhancing the effectiveness of community services and governance systems in Ordos City [1][2] - Ordos City is implementing a governance model that combines organization, law, and morality, aiming to improve the quality of rural governance and community services [1][2] - The establishment of a multi-party collaborative governance mechanism is highlighted, focusing on efficient management and service delivery in residential areas [3] Group 2 - The "Three-Point Absorption Method" is being innovatively applied in Uxin Banner to resolve conflicts locally, contributing to its recognition as a "National Petition Demonstration County" in 2022 [4] - The "135+ Let One Step" work concept in Huanghaizi Village is enhancing the standardization of conflict resolution, leading to positive outcomes in community governance [4] - The "Four Rights, Four Systems, Three Safeguards" mechanism in Yijinhuoluo Banner is transforming decision-making processes from "acting on behalf of the people" to "inviting the people to participate" [4]

Investment Rating - The report maintains an "Accumulate" rating for the steel industry [5] Core Viewpoints - The ROA of the ordinary steel sector is at a low level since 2010, with a projected ROA of 0.93% for H1 2025 due to declining industry demand and profits [1] - The PB_LF of the ordinary steel sector is 0.96, which is 6.67% below the average since 2013, indicating potential for growth [1] - There are currently 12 ordinary steel companies with a PB_LF below 1, while 11 companies have a dividend yield above 3% [2][3] - The report anticipates an increase in dividend payout ratios for ordinary steel companies as low-emission transformation projects are completed by 2025 [3] Summary by Sections Section 1: Financial Metrics - The ordinary steel sector's ROA is projected to be 0.93% for H1 2025, marking a low since 2010 [1] - The current PB_LF of 0.96 is 6.67% below the average since 2013, with significant room for growth compared to peaks in 2017 and 2021 [1] Section 2: Company Analysis - Among the ordinary steel companies, 12 have a PB_LF below 1, with notable companies like Hebei Steel at 0.51, New Steel at 0.52, and Ansteel at 0.54 [2] - 11 companies in the steel sector have a dividend yield exceeding 3%, with the highest being Youfa Group at 6.09% [2][3] Section 3: Investment Recommendations - The report recommends focusing on Baosteel, Ordos, CITIC Special Steel, and Jiuli Special Materials for investment, while also suggesting to pay attention to Youfa Group, Nanjing Steel, and others [3]

Core Viewpoint - The article emphasizes the commitment of Ordos City in Inner Mongolia to ecological civilization construction, aiming to enhance the ecological environment while promoting high-quality economic development and improving the business environment [1][14]. Group 1: Ecological Protection and Development - Ordos City is focused on building a national model for ecological governance, integrating "ecology+" into all aspects of social and economic development to ensure the safety of the Yellow River and enhance urban green spaces [1][14]. - The city has implemented a comprehensive ecological protection strategy, including the establishment of 171 ecological environment control units and the optimization of land use through ecological protection red lines and agricultural land boundaries [4][16]. Group 2: Energy Transition and Industrial Upgrading - Ordos has accelerated its green energy transition, becoming one of the first cities in China to implement pollution reduction and carbon reduction initiatives, with a total installed power capacity of 60.33 million kilowatts, of which renewable energy accounts for 39.3% [17][19]. - The city is developing 18 new coal-based industrial chains, including large-scale green hydrogen projects, and has seen a 261.3% increase in the added value of the new energy equipment manufacturing industry [5][18]. Group 3: Environmental Quality Improvement - Since 2018, Ordos has completed over 9,800 pollution prevention tasks, maintaining an air quality good rate of around 90% and achieving a 100% compliance rate for drinking water sources [12][21]. - The city has made significant progress in waste management, with the comprehensive utilization rate of industrial solid waste increasing from 37.45% in 2020 to 71% currently [12][21]. Group 4: Social and Economic Benefits - The ecological improvements have translated into enhanced living conditions, with Ordos being recognized as a national forest city and a city with high happiness levels, reflecting the integration of ecological and social benefits [22][24]. - The city promotes ecological industries, providing stable employment opportunities and increasing income for local residents, with an annual increase of over 30,000 yuan per person in desertification-affected areas [28][29]. Group 5: Governance and Community Engagement - Ordos is enhancing its ecological governance framework, focusing on community involvement in ecological protection and promoting a culture of environmental awareness through various initiatives [29][30]. - The city has adopted a proactive approach to environmental management, reducing administrative burdens on businesses and improving the efficiency of environmental assessments and approvals [31][34].