中新网内蒙古新闻1月30日电 （李爱平 王枫 李笑）近日，鄂尔多斯市牛羊布病综合防控技术成功入选 2026年内蒙古农牧业主推技术，与此同时，全市自治区级动物疫病净化场数量增至16家，技术创新+示 范创建双轮驱动，不仅为畜牧业高质量发展保驾护航，更给农牧民的安心养殖吃下"定心丸"！ 走进鄂托克前旗自治区级种羊布病净化场，展示大厅里的"全生命周期档案管理"系统让人眼前一亮。作 为全旗首个获此认证的养殖主体，这里的种羊从出生到出栏，每一项数据都全程可追溯，真正实现 了"源头可控、风险可防"。 "我们坚持非免疫净化，就是要养好健康种羊！"内蒙古亿乘畜牧业有限责任公司总经理乌力吉毕力格底 气十足，"接下来不仅要稳住净化成果，还要把技术和经验分享给周边农牧民，让大家都能养好羊、多 挣钱。"鄂托克前旗农牧和水利局动物疫病预防控制中心主任浩日乐也表示："严格遵循净化标准筑牢生 物安全防线，达标只是新起点，我们还要持续推进全域防控提质。" 从单个净化场的"单点突破"，到全市畜牧业的"全域提质"，鄂尔多斯的防控成效离不开技术创新与政策 支持。依托自治区、市级重大科技项目，当地引进5种防控疫苗，在6个旗区广泛推广，让科学防控技术 ...

Core Viewpoint - The news highlights the ongoing ecological restoration efforts in Ordos City, Inner Mongolia, focusing on desertification control and sustainable development initiatives, particularly in the Kubuqi Desert and the Mu Us Sandy Land [1][2][3]. Group 1: Ecological Restoration Efforts - Ordos City has made significant progress in ecological restoration, completing 19.05 million acres of the "Three-North" project in 2025, with 8.6 million acres specifically for desertification control [1]. - The governance rates for the Kubuqi Desert and Mu Us Sandy Land have reached 50% and 85%, respectively, showcasing a commitment to ecological improvement [1]. - The city employs a systematic approach to build ecological defenses, including green belts and various engineering projects to combat desertification [2]. Group 2: Technological Innovation - Ordos is leveraging technological innovation as a key support for its ecological initiatives, implementing over 20 major technology projects aimed at advancing intelligent and mechanized desertification control [3]. - The mechanization rate for desertification control has reached 75%, resulting in a 30% reduction in labor costs and a fivefold increase in efficiency [3]. Group 3: Economic Benefits and Community Impact - The city is exploring pathways to convert ecological benefits into economic gains, with local companies employing automated processes to enhance efficiency and reduce costs for local farmers [4]. - By 2025, the area dedicated to the production of feed crops is expected to reach 15 million acres, contributing to a total forestry and grassland output value exceeding 8.5 billion yuan [4]. - Policies promoting local employment and cooperative projects have led to an average income increase of over 30,000 yuan per person for local farmers [4]. Group 4: Community Engagement and Recognition - The efforts in desertification control are supported by a strong community spirit, with local workers and volunteers actively participating in restoration projects [5]. - Recognition has been given to individuals and groups for their contributions to ecological restoration, reinforcing the commitment to sustainable practices and community involvement [5].

Group 1 - The article highlights the transformation of traditional farming practices in Inner Mongolia, shifting towards technology-driven, refined agricultural and livestock management, creating new economic opportunities [1] - The "Unified Breeding and Shared Prosperity" model is being implemented, where companies provide feed, technology, and guaranteed purchase prices to herders, resulting in improved meat quality and higher prices for sheep [2] - Smart farming technologies, such as intelligent collars for cattle, are being utilized to monitor health and optimize feeding, leading to increased milk production and enhanced beef quality [2] Group 2 - The establishment of a complete ecological cycle in livestock farming is emphasized, where waste is converted into organic fertilizer, supporting the growth of cash crops and renewable energy production [3] - The integration of various agricultural sectors, such as whiskey production and black donkey farming, demonstrates a model of resource synergy that enhances value across the supply chain [3] - The implementation of "contract farming" in villages stabilizes income for farmers by securing buyers before planting, significantly reducing market risks [4][5] Group 3 - The development of a comprehensive agricultural service system by village cooperatives enhances efficiency and supports collective economic growth, benefiting local public welfare [5] - The successful transition to high-value crops, such as chili peppers, showcases the potential for increased profitability through modern agricultural practices [6] - Economic indicators reveal that the primary industry in Ordos City achieved a value of 5.24 billion yuan, with a year-on-year growth of 5.5%, and the per capita disposable income for rural residents is projected to reach 30,478 yuan, growing by 5.8% [6][7] Group 4 - The article concludes with a vision of a sustainable and prosperous future for farmers, characterized by improved living conditions and a harmonious relationship between ecological health and economic development [7]

证 券 研 究 报 告 www.swsresearch.com 证券研究报告 2 ◼ 煤炭行业供给端正面临深层次格局重塑。2025年12月国家六部门印发《煤炭清洁高效利用重点领域标杆水平 和基准水平（2025年版）》，将燃煤发电供热煤耗、煤制天然气等纳入管控范围，叠加安监、环保常态化监 管持续从严，供给秩序进一步向理性化、高质量转型；叠加主产区产能置换与新增产能严格审批，行业产能释 放预计延续稳中有紧态势，优质合规产能话语权持续提升。逆全球化浪潮推动资源民族主义持续觉醒，煤炭作 为关键战略能源，其保障国家能源安全的核心价值被重新凸显。2025年12月以来，印尼明确下调2026年煤炭 生产目标，重启1%-5%煤炭出口关税并收紧外汇管理，通过产量调控、税费调节巩固资源主动权。 ◼ 需求端，2025年12月全社会用电刚性增长底色未改，煤电需求韧性犹存；煤化工领域则迎来增长新动能，煤 制油、煤制烯烃等项目加速落地，12月化工耗煤同比增长7%延续高增态势，成为需求增长核心拉动力，综合 来看2026年整体煤炭需求将维持稳定并实现小幅增长。 ◼ 投资分析意见：看好动力煤价格持续反弹，建议关注成长性标的特变电工、晋控煤业、华 ...

来源：鄂尔多斯市经济合作服务中心 二是搭建对接平台，政银联动解难题。建立高效政银企联动机制，主动搭建精准对接平台，着力破解企 业融资难题。一方面，向金融机构重点推介企业经营现状与信用资质，增强银行放贷信心；另一方面， 协助企业梳理融资需求，并就贷款额度、利率等核心条款全程跟进协调，推动银企快速达成合作。截至 目前，已促成12个银企合作项目落地，授信总额突破4.3亿元，实现快速审批放款，及时缓解企业资金 压力。 三是健全长效机制，常态服务促发展。深入践行服务企业就是服务发展理念，持续优化"保姆式"服务， 将银企对接纳入常态化工作机制，推动金融资源持续向实体经济集聚。通过精准化、常态化、高效化的 服务，切实优化园区营商环境，既保障企业生产稳定与订单交付，又增强企业发展信心，助力企业稳健 成长。这一做法不仅有效破解了融资难题，也不断夯实全旗产业提质增效和经济社会高质量发展基础， 实现企业成长与区域经济发展的双向共赢。(马军、孟兆) 2025年，杭锦经济开发区锚定优化营商环境、服务实体经济核心目标，聚焦企业"急难愁盼"，以搭建银 企对接平台为抓手，做实精准服务，破解发展堵点，为企业稳健运营、区域经济高质量发展注入强劲 ...

Group 1 - The core viewpoint of the article is that Taiyong Changzheng (002927) has provided information about its solid-state circuit breaker demonstration projects in response to investor inquiries [1] - The demonstration projects include a construction project for a certain middle school in Ordos, a ship DC distribution system project at a certain university in Wuhan, and a certain 800V DC system experimental station project [1] - These demonstration projects collectively account for a small proportion of the company's revenue [1]

Group 1 - The steel raw materials sector increased by 3.51% compared to the previous trading day, with Vanadium Titanium Co. leading the gains [1] - The Shanghai Composite Index closed at 4151.24, up 0.27%, while the Shenzhen Component Index closed at 14342.9, up 0.09% [1] - Key stocks in the steel raw materials sector showed significant price increases, with Steel Titanium Co. rising by 8.52% to a closing price of 4.33 [1] Group 2 - The net inflow of main funds in the steel raw materials sector was 545 million yuan, while retail investors experienced a net outflow of 496 million yuan [1] - The table of fund flows indicates that Steel Titanium Co. had a main fund net inflow of 1.83 billion yuan, but a retail net outflow of 1.62 billion yuan [2] - Other notable stocks included Hainan Mining with a main fund net inflow of 136 million yuan and a retail net outflow of 1.43 billion yuan [2]

Core Viewpoint - The tax authorities in Ordos City are enhancing tax management and governance efficiency through systematic compliance guidance and refined services, aiming to mitigate tax risks for market entities and support high-quality local economic development [1] Group 1: Tax Compliance and Support for Enterprises - The Inner Mongolia Beikun Energy Technology R&D Co., Ltd. is a newly established small enterprise focused on natural sand processing and sales, which emphasizes compliance but faces tax-related challenges. The tax department provides guidance for accurate reporting and risk alerts, enhancing the company's operational confidence [2] - The Ordos City tax bureau has developed a collaborative governance model combining data sharing, joint regulation, precise guidance, and compliance orientation, focusing on resource and environmental protection taxes to support regional green transformation [2] - A specialized team offers one-on-one policy guidance to help enterprises understand key points related to pollutant discharge calculations and environmental equipment tax credits, achieving a balance between environmental responsibility and economic benefits [2] Group 2: Digital Solutions for Tax Compliance - The Yijinhuoluo International Airport, the first 4E-level international airport in North China, is projected to handle over 3.2 million passengers and 13,400 tons of cargo by 2025, playing a crucial role in promoting the cultural tourism industry in Ordos [3] - The tax bureau has implemented a "payment upon invoicing" service model at the airport's parking lot, significantly reducing the average invoicing time from over 20 minutes to seconds, and decreasing the unbilled revenue from 70% to 5% in the first month of the trial [3][4] - A comprehensive management system with eight risk monitoring indicators has been established to enhance real-time scanning and risk warning for invoicing behaviors, improving industry tax compliance [4] Group 3: Support for Cultural and Tourism Enterprises - The Ordos City Cultural Tourism Development Group operates in various sectors, facing complex tax handling. The local tax bureau has introduced a management model that includes precise policy guidance, data collaborative regulation, and full-service follow-up to help these enterprises manage finances and mitigate tax risks [5] - A "Cultural Tourism Tax Manager" team has been formed to assist businesses in accurately identifying taxable and exempt items, standardizing income recognition and invoicing processes, and conducting risk checks to preemptively address potential compliance issues [5] - The financial manager of the Ordos City Cultural Tourism Development Group expressed appreciation for the tax department's comprehensive services, which not only standardize daily financial management but also strengthen the compliance foundation for long-term development [5] Group 4: Future Directions - The Ordos City tax authorities plan to continue implementing the "Strong Foundation Project" by providing stronger policy guidance, more precise risk alerts, and more convenient tax filing experiences to optimize the tax business environment and support market entities in maintaining compliance [6]

Group 1: Tax Policy and Support for Green Transition - The tax policies implemented by the Ordos Municipal Taxation Bureau focus on supporting enterprises in their innovation and transformation, particularly in green transition efforts [1][2] - The tax incentives are aimed at industries such as coal coking and mineral resource utilization, facilitating a shift towards greener practices through targeted policy support [1] - The tax bureau has established a comprehensive support system to ensure that enterprises understand and can effectively utilize the new tax policies, particularly in the wind power sector [2] Group 2: Innovation in Traditional Industries - Companies like Inner Mongolia Guohua Food Technology Co., Ltd. are leveraging local resources to innovate traditional products, benefiting from tax deductions for R&D expenses [3] - The tax bureau provides tailored guidance to traditional industries, such as the wine industry, to help them adopt smart technologies and benefit from accelerated depreciation on fixed assets [3] - The implementation of automation in traditional processes has led to significant improvements in production efficiency and capacity for companies like Ordos Wangdao Winery [3] Group 3: Support for Emerging Industries - The tax bureau offers comprehensive tax services throughout the project lifecycle for emerging industries, such as new energy and new materials [4] - Companies like Inner Mongolia Silicon Source New Energy Electronic Materials Technology Co., Ltd. are receiving tax consultation and support to optimize their tax costs during project preparation and construction phases [4] - Significant tax deductions for R&D expenses are being utilized by companies in the new energy sector to drive technological advancements [4] Group 4: Tracking and Maximizing Policy Effects - The Ordos High-tech Industrial Development Zone Taxation Bureau has established a system to track the benefits that key enterprises receive from tax incentives, ensuring personalized support [5] - Companies like Jing'ao Solar Technology Co., Ltd. have reported substantial tax savings, which are being reinvested to enhance product performance and competitiveness [5] - The tax bureau plans to further refine the implementation of tax policies and optimize service processes to ensure that benefits reach market entities effectively [5]

Core Viewpoint - The stock of Inner Mongolia Erdos Resources Co., Ltd. has shown significant fluctuations, with a year-to-date increase of 25.89% and a recent decline of 0.70% over the past five trading days, indicating volatility in investor sentiment and market conditions [1]. Group 1: Stock Performance - On January 28, the stock price increased by 2.03%, reaching 15.56 CNY per share, with a trading volume of 1.01 billion CNY and a turnover rate of 0.33%, resulting in a total market capitalization of 43.549 billion CNY [1]. - Year-to-date, the stock has risen by 25.89%, with a 30.32% increase over the past 20 days and a 36.61% increase over the past 60 days [1]. - The stock has appeared on the "Dragon and Tiger List" twice this year, with the most recent instance on January 12, where it recorded a net buy of -64.27 million CNY [1]. Group 2: Company Overview - Inner Mongolia Erdos Resources Co., Ltd. was established on October 15, 1995, and listed on April 26, 2001, with its main business activities including cashmere clothing, power metallurgy, and chemicals [2]. - The revenue composition of the company includes silicon iron (37.05%), PVC resin (18.59%), clothing (13.60%), caustic soda (7.78%), and other segments [2]. - As of September 30, the company had 50,500 shareholders, a decrease of 13.42% from the previous period, with an average of 0 circulating shares per shareholder [2]. Group 3: Financial Performance - For the period from January to September 2025, the company reported a revenue of 18.2 billion CNY, a year-on-year decrease of 9.76%, and a net profit attributable to shareholders of 1.706 billion CNY, down 0.85% year-on-year [2]. - The company has distributed a total of 12.585 billion CNY in dividends since its A-share listing, with 5.917 billion CNY distributed over the past three years [3]. Group 4: Institutional Holdings - As of September 30, 2025, the top ten circulating shareholders included Huatai-PB SSE Dividend ETF, which increased its holdings by 2.4629 million shares, and Hong Kong Central Clearing Limited, which increased its holdings by 8.6460 million shares [3]. - Other notable institutional shareholders include E Fund CSI Dividend ETF and China Merchants CSI Dividend ETF, both of which increased their holdings compared to the previous period [3].