北京商报讯（记者 翟枫瑞）9月30日，厨卫品牌万家乐联合苏宁易购于北京举行了"活水新生"主题新品发布会，正式推出万家乐小体积热水器A2MAX与"空 间魔方W9"无内胆电热水器。 万家乐产品经理表示，传统储水式电热水器因其结构限制，长期存在内胆积存"陈水"、滋生细菌、附着水垢和镁渣等问题。不仅影响沐浴舒适度，更对皮肤 健康构成潜在威胁，尤其危害婴幼儿、老人及皮肤敏感人群。万家乐W9无内胆电热水器从源头上解决了水质污染问题，让消费者能够安心沐浴，不必担 心"脏水"对皮肤健康的潜在威胁。 值得注意的是，针对当前城镇化进程中小户型住宅增多的市场现状，W9通过新一代高集成小体积技术实现机身优化，较传统电热水器体积缩小45%，可适 配住建部2025版《城镇住宅设计标准》中"厨卫面积占比不低于12%"的要求，解决了小户型空间的安装难题。 业内人士表示，万家乐推出的养肤浴系列新品新品，以"无内胆健康+小体积适配"的双重创新，为行业开辟了新赛道。创新技术不仅解决了消费者对水质安 全、加热效率的核心诉求，同时也符合行业"绿色化、集成化、智能化"的发展方向。 IT K na 240 北京商报记者在现场了解到，万家乐W9无内胆电热水 ...

（文章来源：证券日报） 证券日报网讯顺钠股份9月17日在互动平台回答投资者提问时表示，公司股价受多种因素影响，目前公 司生产经营正常。 ...

Market Overview - The Shanghai Composite Index is at 3852.31 points with a decline of -0.21% as of 10:32 AM, and the total trading volume of A-shares is 1,075.764 billion yuan [1] Stocks with Death Cross - A total of 152 A-shares have seen their 5-day moving average cross below the 10-day moving average, indicating potential bearish trends [1] - Notable stocks with significant distance between their 5-day and 10-day moving averages include: - Songjing Co., Ltd. (688157) with a distance of -1.61% - Chunguang Technology (603657) with a distance of -1.02% - Pilin Bio (000403) with a distance of -0.93% [1] Detailed Stock Performance - Key stock performances include: - Songjing Co., Ltd. (688157): Today's change is -0.67% with a latest price of 40.09 yuan, which is -3.28% from the 10-day moving average [1] - Chunguang Technology (603657): Today's change is -3.47% with a latest price of 38.70 yuan, which is -6.79% from the 10-day moving average [1] - Pilin Bio (000403): Today's change is -0.52% with a latest price of 17.32 yuan, which is -2.64% from the 10-day moving average [1] Additional Stocks with Notable Changes - Other stocks showing significant changes include: - Jiangsu New Energy (603693): Today's change is -1.38% with a latest price of 12.87 yuan, which is -2.29% from the 10-day moving average [2] - Yongan Pharmaceutical (002365): Today's change is -1.04% with a latest price of 18.11 yuan, which is -1.45% from the 10-day moving average [2] - Mosi Co., Ltd. (001323): Today's change is -1.95% with a latest price of 28.16 yuan, which is -2.96% from the 10-day moving average [2]

Group 1 - The first Guangdong Quality Products Exhibition opened in Guangzhou, attracting 1,086 participating companies and 2,175 domestic and international professional buyers [1][2] - The exhibition covers an area of 50,000 square meters and includes five industry exhibition areas: home appliances and electronics, clothing and beauty, toys and cultural creativity, health food, and furniture and home [1][2] - The event aims to accelerate the integration of domestic and foreign trade, support enterprises in expanding domestic sales markets, and strengthen the domestic circulation [2] Group 2 - The exhibition features nearly 10,000 consumer products from well-known and emerging Guangdong enterprises, including brands like Midea, TCL, and Wanglaoji [2] - Guangdong has a complete industrial system with high-quality products, and it is a major province for quality product output, with a real-time population of 150 million and a retail sales total that has ranked first in the country for 42 consecutive years [2] - The event is expected to enhance the visibility of Guangdong's quality products and meet the growing demand for high-quality and high-value products among consumers [2]

Group 1 - The Guangdong Quality Products Exhibition aims to establish a new platform for integrated domestic and foreign trade, focusing on connecting production and sales for exhibitors [3][6] - The exhibition will adopt a "showcase-sales integration" model to create precise matching scenarios for domestic and foreign buyers, promoting Guangdong's quality manufacturing [3][6] - The event will take place from September 12 to 14 at the Guangzhou Import and Export Fair Complex, featuring five major exhibition areas and over 1,000 exhibitors [9][4] Group 2 - A total of 2,175 professional buyers have been invited, including 1,682 from within the province, 336 from outside, and 157 from overseas, with notable companies like Walmart and Amazon participating [6][9] - The exhibition will feature a "Star Carnival Concert" with six popular artists, enhancing brand exposure through a combination of live performances and product displays [6][7] - Attendees will benefit from special dining vouchers and exclusive discounts during the exhibition, aimed at boosting consumer engagement [10][12] Group 3 - The event is positioned as a practical platform for the "dual circulation" strategy, facilitating the transition of foreign trade products to domestic sales channels [14] - The exhibition is expected to attract over 100,000 professional visitors and consumers, highlighting its significance in promoting Guangdong's manufacturing capabilities [7][9] - The press conference served as both an information release and a confidence-building event, emphasizing the importance of quality and brand in domestic sales [12][14]

Core Insights - The first Guangdong Quality Products Exhibition will take place from September 12 to 14 at the Canton Fair Complex, showcasing nearly 10,000 consumer products from over 1,000 well-known Guangdong enterprises [2] - The exhibition aims to promote the upgrade of "Made in Guangdong" from a world factory to a global brand [2] - Approximately 2,200 global buyers and over 100,000 visitors are expected to attend the event [2] Group 1: Exhibition Details - The exhibition will feature five major sectors: home appliances and electronics, fashion and beauty, toys and cultural products, health food, and furniture [2] - Notable participating companies include Midea, TCL, DJI, Aofei, Wan Jia Le, Zhujiang Beer, Wang Laoji, and Chen Li Ji [2] - A total of 2,175 professional buyers, including major retailers like Walmart, Decathlon China, and Amazon, have confirmed their attendance [2] Group 2: Special Activities - The exhibition will host two special events, including a star-studded concert featuring six Chinese pop singers [3] - There will be sub-venues and interactive experience zones in popular shopping districts, allowing for immediate consumer engagement [3] - A representative from a major duty-free company expressed hopes to connect more quality Guangdong products with their stores through the exhibition [3]

Core Viewpoint - The report discusses the merger of Hangzhou Hailianxun Technology Co., Ltd. and Hangzhou Turbine Power Group Co., Ltd., highlighting the operational performance and sustainability of the latter amid industry challenges and competition. Group 1: Company Performance - The main business of the absorbed party includes the design, manufacturing, installation, and operation of industrial steam turbines, gas turbines, generators, and hydraulic turbines [2] - The absorbed party's gross profit and profit margins have been declining over the reporting periods, with gross profits of 1.294 billion, 1.178 billion, and 939 million yuan, and gross margins of 29.30%, 26.78%, and 21.21% respectively [2][3] - The absorbed party's net profits were 708 million, 736 million, and 638 million yuan over the same periods, indicating a downward trend [2][3] Group 2: Market Conditions - The global steam turbine market is projected to grow from 28.375 billion USD in 2024 to 33.752 billion USD by 2032, with a compound annual growth rate of 2.19% [6][23] - The domestic steam turbine market is expected to maintain a scale of 35-40 billion yuan, influenced by the "dual carbon" policy and adjustments in the traditional energy structure [7][23] - The absorbed party's industrial steam turbine business is under pressure due to increased competition and market changes, with a significant decline in production and sales volume [11][16] Group 3: Competitive Landscape - The steam turbine market is characterized by a "multi-polar and tiered" competition structure, with international leaders like Siemens Energy and General Electric dominating the global market [9][10] - The absorbed party holds a leading position in the domestic industrial steam turbine sector, with over 50% market share in production and sales from 2021 to 2023 [10][21] - The absorbed party's industrial steam turbines are recognized for their high customization capabilities, allowing them to meet specific customer needs effectively [26][27] Group 4: Future Outlook - The absorbed party has a robust order backlog exceeding 6 billion yuan, providing a solid foundation for future operations [21] - The company is actively exploring new growth opportunities in equipment upgrades, energy-saving renovations, and overseas market expansion [23][24] - The absorbed party's technological innovation and strong R&D capabilities are expected to drive sustainable development and competitive advantage in the market [25][27]

Core Viewpoint - The merger between Hangzhou Hailianxun Technology Co., Ltd. and Hangzhou Turbine Power Group Co., Ltd. is under review, with concerns raised about the operational performance and sustainability of the latter, particularly in light of declining profit margins and market pressures from policies and competition [1][2][3]. Financial Performance - Hangzhou Turbine Power Group's gross profit and profit margins have been declining over the reporting periods, with gross profits of 1.294 billion, 1.178 billion, and 939 million yuan, and gross margins of 29.30%, 26.78%, and 21.21% respectively [2][12]. - The net profits for the same periods were 708 million, 736 million, and 638 million yuan, indicating a downward trend [2][12]. - The company has seen a significant drop in turbine production, with a 20% decrease expected in 2024 [2][11]. Market Dynamics - The global turbine market is projected to grow from $28.375 billion in 2024 to $33.752 billion by 2032, with a compound annual growth rate of 2.19% [6][23]. - The domestic turbine market is under pressure due to the "dual carbon" policy and a shift in energy structure, with a market size expected to stabilize between 35 billion and 40 billion yuan [6][23]. Competitive Landscape - The turbine market is characterized by intense competition, with major international players like Siemens Energy and General Electric dominating, while domestic companies like Dongfang Electric and Shanghai Electric also hold significant market shares [9][10]. - Hangzhou Turbine Power Group maintains a leading position in the industrial turbine sector, with over 50% market share in production and sales among domestic manufacturers [10][21]. Product and Technology - The company specializes in industrial turbines, which are critical in various sectors such as petrochemicals, metallurgy, and power generation, and has a strong focus on customized solutions [7][25]. - Hangzhou Turbine Power Group has developed a robust technological framework, including a national-level enterprise technology center and various innovation platforms, enhancing its competitive edge [24][26]. Future Outlook - The company has a backlog of orders exceeding 6 billion yuan, indicating a solid foundation for future operations [20]. - There are opportunities for growth in equipment upgrades and energy-saving renovations, driven by national policies and market demands [23][24].

Group 1 - The company has made investments in power supply products for server computing clusters, specifically through its subsidiary Shunte Electric Equipment Co., Ltd [2] - Shunte Electric provides products for data centers and computing centers, including dry transformers and switchgear [2]

Group 1 - The company Shun Sodium Co., Ltd. (顺钠股份) confirmed that its subsidiary Shun Te Electric Equipment Co., Ltd. can produce electrical products applicable to the new energy vehicle and charging pile industries [2] - The products mentioned include dry transformers, box-type substations, and switchgear [2]