"十五五"规划建议明确提出"加快高水平科技自立自强"，并将"科技自立自强水平大幅提高"列入"十五 五"时期经济社会发展的主要目标之一，始终把科技创新摆在国家战略核心位置。而科技创新也正是珀 莱雅公司自创立以来持续深耕的核心驱动力。 "十五五"规划建议将"加快经济社会发展全面绿色转型，建设美丽中国"列为"十五五"时期核心战略任 务。珀莱雅股份始终将绿色可持续发展作为企业责任与战略，深度锚定"美丽中国"建设要求，全面推进 从生产到消费的全链条绿色发展。 数据显示：2024年，公司研发投入达2.1亿元，同比增长21.21%，研发团队的人数达389人。目前，公司 已在杭州、上海和巴黎设立三大研发与科创中心，逐步构建起"本土需求响应+国际技术协同"的创新网 络，持续夯实全球科研根基。 据2025年半年报披露，公司已累计拥有专利240项，其中包括国家授权发明专利124项、实用新型专利22 项及外观设计专利94项。在行业标准建设方面，公司至今已参与制定国家标准21项、行业标准6项，持 续引领行业规范与发展。 党的二十届四中全会审议通过的"十五五"规划建议，明确提出"坚持把发展经济的着力点放在实体经济 上，坚持智能化、绿色化 ...

Group 1 - The core point of the article is that Tianyouwei (603202.SH) announced the acquisition of 100% equity in Kramer Automotive Systems GmbH for €1 million, aligning with its internationalization strategy to expand into the European market and enhance profitability and competitiveness [1] Group 2 - Kramer Automotive Systems GmbH, established in 1974 and based in Reutlingen, Germany, specializes in the research and manufacturing of in-vehicle infotainment systems, digital cockpits, and connected vehicle solutions [1] - As of June 30, 2025, Kramer reported total assets of 12.99 million RMB, total liabilities of 19.52 million RMB, and a net asset value of -6.53 million RMB, indicating a financially distressed position [1] - For the fiscal year 2024, Kramer generated operating revenue of 90.44 million RMB but reported a net loss [1] - The valuation of Kramer was determined using the market approach, with the total equity value assessed at 8.57 million RMB, reflecting an increase of 231.16% over the book net assets [1] - The final transaction price of €1 million was negotiated based on this valuation [1]

全球贸易格局深刻调整的背景下，敏华控股(01999.HK)以东南亚市场为支点，加速推进国际化战略，这一举措不仅体现了公司对区域经济潜力的精准研 判，更通过供应链优化、渠道下沉与本土化运营，为长期增长注入新动能。 一、战略意义：分散风险，抢占新兴市场红利 东南亚作为全球家居消费增长最快的区域之一，人口红利与城镇化进程形成双重驱动，敏华控股通过布局越南、马来西亚等生产基地，有效规避贸易摩擦 风险，同时贴近消费市场降低物流成本。 敏华控股(01999.HK) 这一战略与公司"全球供应链+本土化运营"模式高度契合，强化了其在北美、欧洲外的第三极竞争力。 二、落地路径：产能协同与渠道创新并进 东南亚扩张不仅分散了敏华控股对单一市场的依赖，更通过高增长区域对冲传统市场波动。机构预测，随着产能释放与渠道渗透，东南亚业务有望在未来 3年内贡献超20%的海外收入，成为公司估值重塑的关键因素。 敏华控股的东南亚战略，是其在贸易摩擦时代构建"韧性增长"的缩影。通过产能、渠道与产品的三重创新，公司正从"中国制造"向"全球品牌"跃迁，为投 资者打开长期价值空间。 1. 产能布局：越南工厂扩建后，敏华控股已实现东南亚产能对北美出口的全面 ...

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！ 出品：新浪财经上市公司研究院 作者：IPO再融资组/郑权 近日，汉得信息发布公告称，拟发行境外上市外资股（H股）股票并在香港联交所主板上市募资。 不过汉得信息账面并"不差钱"，截至2025年前三季度，公司货币资金和交易性金融资产合计近17亿元，有息负债仅 4.6亿元，公司整体资产负债率不到20%。并且，今年上半年公司发布公告称拟用不超过5亿元现金进行理财，拟用不 超8亿元用来投资衍生品。 值得关注的是，汉得信息应收账款金额居高不下，尤其是账龄较长的应收款占比高，其中3年以上应收账款占比约 25%，显著高于同行可比公司。并且，汉得信息巨额应收账款对国企类客户和非国企类客户实施不同的坏账计提政 策，两者整体的计提比例相差约25%，如果按照相同的坏账计提比例（取谨慎者），公司2024年可能难以扭亏。 资产负债率不到20% 广义货币资金近17亿元拟用5亿元理财8亿投向衍生品 资料显示，汉得信息是一家企业数字化智能化产品和解决方案综合服务供应商，专注为大中型企业提供全链条数字化 智能化产品和解决方案，涵盖数字化智能化软件产品、解决方案、咨询服务及 ...

Group 1: Investor Relations Activities - The company conducted multiple investor relations activities from November 24 to December 5, 2025, including on-site research and telephone conferences, with participation from various investment firms totaling 78 individuals [2][3][4]. - Notable participants included AGCM Group with 10 individuals and a large group of 55 from various asset management firms during a telephone conference [3][4]. Group 2: Automation Business Growth - The company aims to enhance its market share in automation through multi-product solutions, focusing on servo systems, variable frequency drives, small PLCs, and industrial robots, which have shown strong market presence in China [4][5]. - The company is expanding its presence in fragmented and project-based markets, as well as targeting international markets to boost global product share [4][5]. Group 3: New Product Development - Recent product extensions include precision machinery, pneumatic products, and sensors, which are being marketed through bundled sales strategies to meet customer needs [4][5]. - The company anticipates significant growth potential for these new products, which are expected to support its general automation business [4][5]. Group 4: PLC Product Expansion - The company has successfully sold various PLC products, including small, medium, and large PLCs, with a current market share of approximately 5.1% for large PLCs, ranking sixth in China [5][6]. - Continuous investment in R&D for PLC products is planned to enhance capabilities and market penetration [5][6]. Group 5: Internationalization Strategy - The company aims to increase its overseas business share, focusing on brand building, establishing international platforms, and leveraging customized solutions for multinational clients [7]. - The international strategy includes enhancing sales, R&D, and supply chain capabilities to support global expansion [7]. Group 6: Elevator Business Outlook - The elevator business is expected to maintain steady growth, with strategies to expand into multinational enterprises and enhance product offerings in overseas markets [8][9]. - The company is also focusing on after-service markets, capitalizing on the growing demand for elevator maintenance and upgrades [8][9]. Group 7: R&D Investment Focus - The company plans to allocate 8% to 10% of its revenue to R&D, targeting software development, international product offerings, and humanoid robotics [9]. - This investment is aimed at maintaining technological leadership and supporting strategic business initiatives [9].

本报讯 （记者李婷）12月5日，海安橡胶集团股份公司（以下简称"海安集团"）顺利举行系列重要签约 仪式。此次集中签约仪式，涵盖长期轮胎供应、年度采购计划及专项项目合作等多个领域。签约企业包 括欧洲最大磷矿、西非最大采矿承办商等全球行业领军企业。莆田市委书记付朝阳、市长戴龙成、市人 大常委会主任苏永革、市政协主席沈萌芽、市宣传部长陈惠黔等政府领导出席当日签约仪式。 海安集团与江西铜业集团从产品定制到一体化承包服务的合作模式，体现了其提供全生命周期解决方案 的综合能力。这种深度融合的服务模式也正在复制到国际合作伙伴中，助力海安集团构建覆盖全球的高 效服务网络。 未来，海安集团将继续秉持"品质为先、服务至上"的理念，为全球客户提供高性能轮胎产品与全生命周 期服务，与合作伙伴携手共创可持续价值，推动行业技术进步，促进国际经贸合作与产业协同发展。 站在新的发展起点上，海安集团将继续以技术创新为驱动，以客户需求为导向，深化全球市场布局，推 动行业进步。 （编辑 张明富） 本次签约是海安集团在深交所上市后的又一重要里程碑，是企业国际化战略布局落地的重要标志，展现 了该公司在全钢巨胎领域不断突破、走向世界的坚定步伐。 在持续 ...

格隆汇12月8日丨天孚通信(300394.SZ)公布股票交易异常波动公告，公司目前正筹划在香港联合交易所 有限公司（简称"香港联交所"）发行H股上市事项，相关细节和方案尚未确定，具体如下：为持续推进 公司国际化战略和全球化布局，打造国际化资本运作平台，进一步提升公司治理水平和核心竞争力，助 力公司高质量发展，公司目前正筹划在香港联交所发行H股上市事项，公司正在与相关中介机构就本次 H股上市的具体推进工作进行商讨，相关细节尚未确定，本次H股上市不会导致公司控股股东和实际控 制人发生变化。 ...

来源：喻观财经 还有20多天，就要进入2026年了。2026年，是中国再保险（集团）股份有限公司（下称"中国再保"， 1508.HK）成立30周年，亦是"十五五"开局之年。 在这个重要的历史节点，中国再保完成了领导班子焕新。 8月29日，中国再保党委书记、董事长和春雷到龄荣休，党委副书记、总裁庄乾志接任党委书记。 9月18日，庄乾志获委任为中国再保第五届董事会董事长，同时辞去总裁之职，即日起代为履行董事长 职务，并作为临时负责人代行公司总裁职权，直至新任总裁正式履职之日止。 庄乾志升任董事长两个多月后，总裁之职的新人选亦已确定。12月8日，中国再保召开干部会议，宣布 中国再保执行董事、副总裁朱晓云任中国再保党委副书记、拟任总裁。 待相关程序完成后，庄乾志和朱晓云将分别出任中国再保董事长和总裁。朱晓云将成为中国再保史上首 位女性总裁。 同批履新的还有田美攀，他将从中国再保总裁助理升为拟任副总裁。 待庄乾志和朱晓云正式履新后，中国再保从董事长、总裁、纪委书记、副总裁到总裁助理，已皆为"70 后"。这是目前中字头国有保险公司中最年轻的一支管理团队。 在这支年轻管理团队的带领下，中国再保这家老牌再保险公司踏上了高质量 ...

Core Viewpoint - Meituan-W (03690) is recognized as a leading local business platform in China, with solid long-term barriers and a focus on exploring new business increments, leading to an "overweight" rating by Caitong Securities [1] Group 1: Business Overview - Meituan operates in key sectors including food delivery, flash purchase, and in-store travel services, while actively developing new businesses such as Xiaoxiang Supermarket and Kuailu, as well as expanding into overseas markets [2] - The macroeconomic environment is identified as the largest beta factor, with the service industry expected to grow faster than retail goods, enhancing the platform's growth potential and resilience [2] Group 2: International Expansion - The overseas expansion of the food delivery business has shown positive progress in regions like Hong Kong and Saudi Arabia, with Keeta's Hong Kong operations becoming profitable in October this year and significant quarter-on-quarter growth in user engagement metrics expected by Q3 2025 [3] - The internationalization strategy, although initiated later, is anticipated to significantly broaden the Total Addressable Market (TAM) for the company, creating structural flexibility for future profit growth [3] Group 3: Financial Projections - Caitong Securities forecasts Meituan's revenue to reach 366.2 billion, 417.4 billion, and 468.9 billion yuan for the years 2025, 2026, and 2027 respectively [1]

Core Viewpoint - Meituan-W (03690) is recognized as a leading local business platform in China, with solid long-term barriers despite short-term competitive disturbances, focusing on exploring new business increments [1] Group 1: Business Overview - Meituan operates in key sectors including food delivery, instant retail, and in-store travel services, while actively developing new businesses such as Xiaoxiang Supermarket and Kuailu [1] - The macroeconomic environment serves as the largest beta factor, with the service industry showing higher growth rates compared to retail goods, indicating greater growth potential and resilience for the platform [1] - The increasing online penetration rate supports the stability of the food delivery segment, while the rapid penetration of in-store and instant retail services contributes to high growth [1] Group 2: International Expansion - The food delivery business is accelerating its expansion into overseas markets, achieving positive progress in regions such as Hong Kong and Saudi Arabia, with Keeta's Hong Kong operations already profitable as of October this year [2] - The quarterly user engagement (UE) metrics for Q3 2025 show significant growth, and the company plans to continue expanding into the Middle East and Latin America [2] - Although Meituan's internationalization strategy started later, its long-term strategic perspective is expected to significantly broaden the company's Total Addressable Market (TAM) and create structural flexibility for future profit growth [2]