Core Viewpoint - The collaboration between Everbright Bank and Ordos Group has evolved over nearly 20 years, showcasing the latter's innovation and industrial upgrades, particularly in the textile and energy sectors [2][3]. Group 1: Company Overview - Ordos Group operates a modern cashmere industry park in Inner Mongolia, processing high-quality cashmere through over 100 procedures to produce premium cashmere garments for global markets [1]. - The brand "Ordos" has maintained its position as the top brand in the textile and apparel industry for 19 consecutive years [2]. Group 2: Financial Collaboration - Everbright Bank's cooperation with Ordos Group has transitioned from a single business model of 340 million yuan in working capital loans to a diversified financial service model addressing various corporate needs, with total credit now reaching 7.5 billion yuan [3]. - The partnership has expanded from one subsidiary to eleven, covering the entire production process from supply to sales, thereby enhancing financial support for Ordos Group [4]. Group 3: Future Outlook - Everbright Bank plans to support Ordos Group's vision of creating a world-class sustainable cashmere fashion industry and a high-tech green circular industry, contributing to the long-term development of the company [5]. - The bank aims to increase its financial services to the private sector, with a target of approving 19.4 billion yuan in credit by 2025, focusing on high-quality development and transformation of traditional industries [5].

Investment Rating - The report maintains an "Overweight" rating for the steel and non-ferrous metal industries [1] Core Viewpoints - The supply-side reform in China is expected to break the deflationary cycle and create investment opportunities in the steel and non-ferrous metal sectors [1][6] - The report emphasizes the importance of "supply constraints" to manage the supply-demand balance and mitigate economic downturn risks [6][12] - The steel industry is facing severe overcapacity, with state-owned enterprises holding a significant market share, which facilitates the implementation of administrative measures to control production [6][28] Summary by Sections 1. Supply-Side Reform and Economic Management - The socialist market economy in China allows for effective macroeconomic control, contrasting with the cyclical issues faced in capitalist economies [12][13] - Historical experiences show that demand stimulus alone is insufficient to resolve deep-seated deflationary pressures [14][15] - The supply-side reform initiated in 2016 has proven successful in stabilizing prices and improving corporate profitability [21][22] 2. Steel Industry Analysis - The steel industry has been in a state of oversupply from 2007 to 2024, with crude steel production increasing from 490 million tons to 1.01 billion tons, while apparent consumption has not kept pace [28][29] - The production capacity utilization rates for rebar and wire rod are expected to decline from around 70% to 50% due to weak real estate demand [33][34] - The concentration of production among state-owned enterprises is high, with central state-owned enterprises accounting for approximately 63% of total production in 2024 [38][39] 3. Investment Recommendations - The report suggests focusing on three categories of investment targets: profit recovery, stable profit with valuation repair, and stable high-dividend stocks [51] - Specific companies recommended for profit recovery include Liugang Co., Taigang Stainless Steel, and Shandong Iron and Steel, with projected annualized PE ratios improving significantly under favorable conditions [51]

Core Viewpoint - The construction of the Kangtai Hotel project in Ordos City is progressing steadily, with a total investment of 500 million yuan, and is expected to become a new urban landmark upon completion [1][3]. Group 1: Project Progress - As of July 15, the main structure of the project has been completed over 40,000 square meters, with the main building reaching the 11th floor and the banquet hall already topped out [3]. - The project aims to achieve the main structure's topping by September 2023 and is scheduled to officially open in June 2026 [3]. Group 2: Design and Features - The hotel design is themed "Diamond Lasts Forever," featuring geometric-cut glass curtain walls to create a "diamond facet" effect, combining simple lines with modern technology for a luxurious visual experience [6]. - The hotel will include 252 smart guest rooms equipped with an intelligent operation management system, allowing guests to enjoy smart check-in, environmental control, and itinerary planning services [6]. Group 3: Economic Impact - Upon completion, the hotel is expected to enhance the overall image and reputation of Ordos City and the autonomous region, promoting deep integration of the cultural tourism industry and injecting new momentum into local economic growth [6]. - The project is estimated to create over 400 job opportunities once operational [6].

对于市场端的变化，王臻认为，现在品牌的文化属性可以说是越来越凸显。"现在年轻人对很多东西已 经祛魅了，非常有个性和主张。是不是可以设想未来，时尚的终极话语权可能不是在T台的射灯下，而 是藏在文化根脉里。"在王臻看来，中国的文化自信正在转化成产业自信。 尔多斯投资控股集团有限公司总裁王臻。中青报·中青网记者 朱彩云/摄 内蒙古鄂 中国青年报客户端北京7月15日电（中青报·中青网记者 朱彩云）"我们的羊绒产业非常独特，可能是在 全世界独一无二的，百分之百拥有自己的全产业链，我们应该发挥这样的产业优势，用科技创新带动产 业创新，用产业创新与升级，再赋能牧户、牧民，形成很好的正向循环。"从小在羊绒衫厂区里长大 的"创二代"王臻今天向中外记者分享自己和企业工厂成长的故事。 今天下午，内蒙古鄂尔多斯投资控股集团有限公司总裁王臻参加了国新办举行的"新征程上的奋斗者"中 外记者见面会。她说，自己在2006年创立1436高端羊绒品牌的原因，就是想到我国有全世界最好的羊 绒，"为什么不能有一个最好的羊绒品牌和世界一线大牌媲美？" 谈到目前行业所面临的挑战，王臻说，挑战一方面是来自技术革命的汹涌浪潮，另一方面正面临全球产 业链重塑 ...

Core Insights - A significant illegal tobacco operation was dismantled in Inner Mongolia, involving a network that distributed processed tobacco across multiple provinces, resulting in the arrest of 11 suspects and the seizure of over 1.35 tons of finished tobacco and 33 tons of raw materials [1][5][6] Group 1: Discovery and Investigation - The investigation began with a tip-off regarding a flower shop suspected of illegal tobacco sales, leading to the discovery of bulk tobacco without proper labeling [2] - The suspects were found to be using household appliances as a cover for shipping tobacco, indicating a sophisticated smuggling operation [2][3] - A collaborative effort between police in different provinces was initiated to track and apprehend key suspects involved in the illegal tobacco supply chain [3][4] Group 2: Network Disruption - The investigation revealed a larger network involving multiple layers of suppliers and distributors, with significant financial transactions traced back to a source in Yunnan [4][6] - A coordinated operation in September 2024 led to the seizure of over 30 tons of tobacco products and the arrest of several key figures in the operation [5][6] - The operation successfully dismantled a four-tier supply chain, cutting off a major illegal tobacco distribution network that spanned across the country [6]

Core Viewpoint - The recent food safety supervision and sampling conducted by the Ordos Market Supervision Administration revealed that out of 102 batches of food samples, 7 batches were found to be non-compliant, primarily due to pesticide residue exceeding national safety standards [2][3]. Summary by Categories Non-compliant Products - Spinach sold by Guoxin Wholesale in Eerduosi was found to have aresenite residue exceeding the national standard [2]. - Wokan sold by Xiaoshen Supermarket in Eerduosi had residues of benzimidazole and chlorpyrifos exceeding the national standard [2]. - Yam sold by Derong Supermarket in Kangbashi District was found to have residues of mefenoxam and manganese mefenoxam exceeding the national standard [2]. - Bok choy sold by Xiaoshen Supermarket in Eerduosi had aresenite residue exceeding the national standard [2]. - Ginger sold by Lixiu Vegetable and Oil Store in Wushenqi was found to have thiamethoxam residue exceeding the national standard [2]. - Banana sold by Huhamudi Xiaocai Supermarket in Hangjin Banner had residues of imidacloprid and fluazinam exceeding the national standard [3]. - Ordinary cabbage (rapeseed) sold by Liu Jianjun Vegetable Wholesale in Dalate Banner was found to have chlorpyrifos residue exceeding the national standard [3]. Regulatory Actions - The market supervision departments at all levels have initiated investigations and actions to trace the flow of non-compliant products, urging companies to take measures such as recalling and removing non-compliant products from shelves [2][3].

Group 1 - The core viewpoint of the articles highlights the efforts of Ordos City in Inner Mongolia to accelerate the transformation of major scientific and technological achievements and promote the construction of a national innovative city through the implementation of the "Breakthrough" project in technology [1][2] - Ordos City has increased the number of research and development institutions at the autonomous region level and above to 273, achieving full coverage of key industries with research and development platforms [1] - The city is focusing on three technological breakthrough points: hydrogen energy, energy storage and new power systems, and new chemicals and materials, while planning new areas in renewable energy, artificial intelligence, and low-altitude economy [1] Group 2 - The construction of a smart connected vehicle demonstration zone was initiated in 2023, aiming to accelerate the development of smart connected vehicles and smart logistics through an automated driving application matrix [2] - The local government is committed to promoting the integration of technological innovation and industrial innovation, transforming traditional industries, and fostering breakthroughs in emerging industries [2] - Ordos City aims to create a number of landmark new technologies and product application scenarios, contributing to the establishment of a national innovative city [2]

Group 1 - The company held an online investor reception day on July 2025, where executives discussed operational performance and future plans with investors [1] - The company emphasizes high dividend returns to shareholders and aims to maintain current dividend levels despite market conditions [1][2] - The company plans to focus on technological innovation and supply chain upgrades to enhance competitiveness in the chlor-alkali chemical, clean energy, and ferroalloy sectors [1][2] Group 2 - The company has no current plans for A and B share consolidation or mid-term dividend schemes, and coal sales accounted for approximately 9% of revenue while clothing sales accounted for about 15% in 2024 [2] - The company reported a 32% year-on-year profit increase in the first quarter, primarily due to significant reductions in product costs [3] - The company is exploring new growth opportunities and optimizing its business layout, including potential entry into the medical sector through its investment in Richde Medical Technology [3]

| A | 股代码 | 600295 | A | 股简称 | 鄂尔多斯 | 编号：临 | 2025-018 | | --- | --- | --- | --- | --- | --- | --- | --- | | B | 股代码 | 900936 | B | 股简称 | 鄂资 | B | 股 | 内蒙古鄂尔多斯资源股份有限公司 关于参加内蒙古辖区上市公司 2025 年投资者 网上集体接待日活动情况的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、投资者网上集体接待日活动召开情况 （一）公司一直坚持高分红回报投资者，这也是我们小股民能一直坚持持有 公司股票的原因。在此，也感谢公司管理层的努力！请问：1、在当前形势下， 能否继续坚持当前的股息？2、公司未来的业绩增长点在哪？ 答复：尊敬的投资者您好，感谢您对公司一直以来的关注与认可。公司一贯 坚持"为股东创造红利、为客户创造价值、为员工创造机会"的经营宗旨，以温 暖世界的情怀不断回馈股东、回馈社会、回馈职工。公司始终坚持价值创造，恪 守"三讲""三重"价值纲领，在持续改 ...

Group 1 - The event "One Chain a Month, Benefit Together" in Ordos facilitated credit cooperation intentions between 12 financial institutions and 9 enterprises, resulting in a total signing amount of 29.7 billion yuan, covering various sectors including agriculture, infrastructure, public services, industrial upgrading, ecological development, and new energy [1] - A total of 101 key industry projects were promoted to financial institutions, with a total financing demand of 30.3 billion yuan, focusing on livelihood projects, rural revitalization, new energy and equipment manufacturing, and park city construction [1][3] - The event aimed to deepen the cooperation mechanism between government, finance, and enterprises, optimize the financial business environment, and inject vitality into the high-quality economic development of the region [3][15] Group 2 - The People's Bank of Ordos introduced a package of central bank policies and major monetary policy tools, helping enterprises understand the credit information sharing platform and monetary policy guidance [3] - Professionals from Guorong Securities and Dongfang Jiafu provided insights on capital market conditions, paths for enterprise listing, and strategies for local government investment in strategic emerging industries [3][8] - The event was significant for implementing the spirit of the 20th National Congress of the Communist Party and supporting key economic initiatives and actions [15][17]