中国的ESG生态，已从"新绿"的萌芽倡导，向"长青"的体系化生长坚实迈进。进入政策护航、企业主驱、资金赋能的协同新阶段，制度、企业、资金三重 力量的共振 文｜黄慧玲 编辑｜郭楠 "中国的ESG生态，已从"新绿"的萌芽倡导，向"长青"的体系化生长坚实迈进。进入政策护航、企业主驱、资金赋能的协同新阶段，制度、企业、资金三 重力量的共振，正重塑中国可持续发展微观基础。"在12月16日举办的2026《财经》可持续发展论坛上，华夏基金总经理李一梅发表主旨演讲，连续第五 年发布《中国ESG投资发展创新白皮书》。 "今年我们深入一线调研，最令人振奋的发现是：中国上市公司践行ESG的底层逻辑，正在发生一场静默却深刻的范式革命。ESG从'被动应对合规要求'的 成本负担，转向'主动创造长期价值'的战略选择。"李一梅介绍。 李一梅表示，过去五年，中国ESG已从早期重要但不紧迫的前瞻概念，逐步演进为与基本面深度整合、务实落地的发展生态，其确定性在全球变局中尤为 珍贵。 非常高兴一年一度我们又相约在今天的盛会，非常感谢《财经》一直给了我们这样一个机会，在每年年底的时刻我们共同关注中国的ESG实践。今天我跟 大家分享的是《全球变局下的中 ...

Core Insights - The central theme of the articles revolves around the impact of the "old-for-new" vehicle replacement subsidy policy and the upcoming changes in the new energy vehicle (NEV) purchase tax policy in China, particularly in 2026 [1][3][11]. Policy and Market Dynamics - The "old-for-new" subsidy policy in Beijing has been suspended, but the central government has indicated that the policy will continue in 2026 with further optimization [1][4][11]. - The NEV purchase tax exemption is set to expire soon, transitioning to a 50% reduction, which will increase the cost for consumers [3][9]. - The suspension of local subsidies has led to a decline in consumer enthusiasm, although interest has started to recover as the year-end approaches [4][6]. Consumer Behavior - Two main groups of consumers are currently in a state of "wait-and-see": those interested in locking in orders for models with tax guarantees and those waiting for the specifics of the new subsidy policy [7][12]. - The demand for vehicle replacements has diminished as many potential buyers have already made purchases during the subsidy period, leaving only those with less urgent needs [6][10]. Sales Performance - Recent data indicates a significant decline in vehicle sales, with a 32% year-on-year drop in retail sales during the first week of December [9][10]. - The overall market sentiment is cautious, with expectations that the upcoming policy changes may lead to further fluctuations in demand [11][13]. Future Outlook - Analysts predict that the subsidy levels for the "old-for-new" policy in 2026 will likely be reduced, which could impact market growth [11][12]. - Despite the anticipated challenges, the overall vehicle market is expected to maintain a positive growth trajectory due to ongoing improvements in NEV technology and competitive pricing [13].

Core Viewpoint - The discussion around all-solid-state batteries is shifting from conceptual narratives to a critical hurdle: whether safety testing can be passed [2][6] Group 1: Market Sentiment and Testing - Recent reports indicate that companies involved in the 6 billion yuan all-solid-state battery project have submitted cell samples for third-party testing, but results may not be satisfactory [3][5] - The final evaluation results are expected to be formed by February-March 2026, likely without a formal public announcement [4] - Despite the potential challenges, the sentiment in the secondary market has been optimistic, with solid-state battery-related stocks rising approximately 50%-110% since August 1, significantly outperforming the Shanghai and Shenzhen 300 index's 17% increase during the same period [5] Group 2: Project Details and Safety Concerns - The 6 billion yuan project involves major companies like CATL, BYD, and others, with testing requirements for each company to provide a randomly selected cell sample from pilot production lines [7][8] - Initial testing was planned for September-October 2025 but has been delayed to November due to sample preparation issues [9] - Safety concerns are paramount, with experts highlighting that sulfide electrolytes decompose at around 200°C, making them susceptible to thermal runaway [11][12] Group 3: Engineering Constraints and Performance Metrics - The project requires that the solid-state battery meet specific performance metrics, including a mass energy density of 400 Wh/kg and a volume energy density of 1000 Wh/L, while also passing safety tests [17] - Experts suggest a potential trade-off between energy density and safety, indicating that while samples may meet energy density requirements, they may struggle to meet safety standards simultaneously [18] - Current liquid batteries can achieve energy densities of approximately 320-350 Wh/kg, raising questions about the marginal benefits of all-solid-state technology [21] Group 4: Government Support and Future Outlook - There are indications that government support for solid-state battery research may decline after the initial 6 billion yuan project, due to the challenges and difficulties encountered over the past year [22][23] - The timeline for commercial viability is cautious, with expectations that while some high-end models may feature solid-state batteries by 2027, widespread adoption by 2030 is unlikely due to high material costs and integration challenges [23] Group 5: Standardization and Industry Dynamics - A new standard for determining all-solid-state batteries is being developed, which may lead to stricter classifications and reduce the promotional space for products [24][26] - The industry is witnessing a split between aggressive all-solid-state approaches and more pragmatic transitional solutions, with companies like CATL exploring innovative technologies [27][28] - The lack of public disclosure regarding testing results may shift industry focus towards practical engineering acceptance rather than speculative narratives [31][34]

智通财经APP讯，吉利汽车(00175)发布公告，于2025年12月17日斥资3861.46万港元回购231.6万股。 ...

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 吉利汽車控股有限公司 呈交日期： 2025年12月17日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | | 股份類別 不適用 | | 於香港聯交所上市 | 是 | | | | 證券代號 (如上市) | 00175 | 說明 | | | | | | | | 多櫃檯證券代號 | 80175 | RMB 說明 | | | | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | | | | 已發行股份（不包括庫存股 ...

【文/观察者网 潘昱辰 编辑/高莘】据路透社报道，在特朗普政府暂停了两项价值18亿美元的电动汽车 充电基础设施的拨款计划后，美国16个州和哥伦比亚特区于12月16日起诉了美国联邦政府。 事实上，自二次上任以来，特朗普已从多个方面针对电动汽车进行打压。今年6月，特朗普签署反对决 议，禁止加州在2035年前停售燃油车的规定，此外，他还签署了终止7500美元电动汽车税收抵免的行政 令；本月，特朗普还提议放宽前总统拜登于去年敲定的燃油经济性标准，以促进燃油车的销售。 有观点认为，此案是美国政策波动带来的撕裂性又一直接体现。一方面，美国联邦政府与州政府有关清 洁能源政策的诉讼争端进一步撕裂了美国社会，使其更加内耗与不稳定；另一方面，特朗普打压电动车 以促进燃油车销售的做法，虽然在短时间内让美国传统汽车制造商获得喘息机会，但长远来看只会撕裂 美国汽车产业与全球汽车产业的联系纽带。美国电动汽车发展也将更加落后，将不可避免地迎来"加拉 帕戈斯化"。 唯"利"是图 据路透社报道，此次参与起诉联邦政府的加利福尼亚州总检察长罗布·邦塔（Rob Bonta）表示，价值18 亿美元的电动汽车充电基础设施拨款，是2022年拜登政府制定的 ...

今日（12月17日）午后，A股放量大幅上攻，创业板指大涨3.39%，创近2个月来最大单日涨幅，深证成指、科创50也均涨逾2%，上证指数、沪深300、上 证50等亦涨超1%，市场成交温和放大至1.83亿元。 银行板块指数午后也一度涨逾1%，多元金融指数由跌近2%转涨逾1%，互联金融同样由跌转涨。翠微股份仅约1分钟垂直涨停，古鳌科技直线20cm封板， 志晟信息、渤海租赁、华金资本等涨幅居前。 | 代码 | 名称 | | 最新 | 涨幅 | | --- | --- | --- | --- | --- | | 399001 | 深证成指 | | 13224.51 | +2.40% | | 000001 | 上证指数 | | 3870.28 | +1.19% | | 399006 | 创业板指 | . | 3175.91 | +3.39% | | 000016 | 上证50 | . | 2991.68 | +1.25% | | 000300 | 沪深300 | . | 4579.88 | +1.83% | | 000688 | 科创50 | œ | 1325.33 | +2.47% | | 899050 | 北证50 ...

Core Viewpoint - Chery's new energy vehicle (NEV) sales reached a record high in November, marking significant growth and positioning the company among the top three in the industry for the first time [1][3]. Group 1: Sales Performance - In November, Chery's NEV wholesale sales reached 111,577 units, a year-on-year increase of 54% and a month-on-month increase of 6.3% [1][2]. - Chery Group's total NEV sales for November were 116,794 units, reflecting a 50.1% year-on-year growth, contributing to a cumulative total of 814,685 units sold from January to November, which is a 69.4% increase year-on-year [3][6]. Group 2: Market Position - Chery's market share in the NEV sector reached 6.5% in November, placing it third behind BYD and Geely, which had shares of 27.8% and 11.0% respectively [2]. - The company has achieved four consecutive months of sales growth in the NEV segment, indicating a strong upward trend [5]. Group 3: Technological Advancements - Chery's growth in the NEV market is supported by its robust R&D capabilities, including the development of the Kunpeng Tianqing hybrid engine with a thermal efficiency of over 48% and the Rhino solid-state battery with an energy density of 600 Wh/kg [7][10]. - The company has introduced several successful models, such as the A9L and T11, which have significantly contributed to its market presence [8]. Group 4: International Expansion - Chery's NEV products have gained recognition in international markets, with accolades such as the "Car of the Year" in the UK for the Tiggo 8 and multiple five-star safety ratings from European NCAP [11][19]. - The company is actively expanding its global footprint, with plans to establish 26 new overseas R&D centers to enhance local development capabilities [19]. Group 5: Financial Performance - Chery reported a revenue of 214.83 billion yuan for the first three quarters of 2025, a 17.9% increase from the previous year, with a net profit of 14.37 billion yuan, up 28% year-on-year [22].

中经记者 陈燕南 北京报道 近日，中国证监会披露的信息显示，北京卫蓝新能源科技股份有限公司（以下简称"卫蓝新能源"）正接 受中信建投辅导，拟登陆创业板。若此次成功登陆资本市场，卫蓝新能源有望成为"固态电池第一股"。 据了解，卫蓝新能源是中国科学院物理研究所固态电池产学研孵化企业，成立于2016年，位于北京房山 窦店，主营固态锂离子电池，是国家级专精特新"小巨人"企业、独角兽企业，具有40余年固态电池产业 研究经验，在多个固态锂电技术领域实现"首次"突破。 《中国经营报》记者梳理发现，卫蓝新能源从2017 年天使轮至今，已完成九轮融资，累计融资额超 25 亿元，投资方阵容涵盖产业巨头、国有资本、专业 VC和科研机构。例如小米、华为等头部企业通过多 轮投资深度绑定卫蓝新能源。 伴随资本加持，卫蓝新能源估值稳步攀升，从2021 年 B + 轮的 50 亿元跃升至185 亿元，在《2025全球 独角兽榜》榜单中位列第455位。对于公司的募资需求以及未来的发展战略，记者致函卫蓝新能源，但 截至发稿前尚未得到回复。 技术背景深厚 记者了解到，公司由中国工程院院士陈立泉、中国科学院物理研究所研究员李泓、教授级高级工程师俞 ...

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 今日（12月17日）午后，A股放量大幅上攻，创业板指大涨3.39%，创近2个月来最大单日涨幅，深证成 指、科创50也均涨逾2%，上证指数、沪深300、上证50等亦涨超1%，市场成交温和放大至1.83亿元。 万和证券认为，市场将震荡上行，"反内卷"政策有效推动市场竞争持续优化，扩内需、保民生等政策落 地带来供需关系的改善，建议关注消费行业的投资机会。此外，高技术制造业继续位于扩张区间，且明 显高于制造业总体水平，行业支撑作用持续显现，建议关注受益于政策和业绩驱动的集成电路、商业航 天板块。 市场热点方面，大金融午后集体异动拉升成为市场上涨主要动力。券商股在13：30左右开始放量，板块 指数约40分钟就由绿盘转为大涨近3%。华泰证券盘中一度冲击涨停，股价创2015年6月以来10年半新高 （复权，下同），收盘涨幅收窄至6.09%；兴业证券、广发证券等涨幅居前。 同一时段，保险板块指数也放量拉升，一度涨近4%，创历史新高。板块内所有个股上涨，中国太保、 新华保险逼近历史最高点，中国人寿、中国平安创年内新高。 银行板块指数午后也一度涨逾1%，多元 ...