（原标题：河内市与法国机构商讨环境污染治理合作） 西提议双方合作开展东南亚地区研究项目（SEACAI），以增强空气污染监测、预报和溯源能力。 该项目预计2026年启动，为期4年，第一阶段将在越南河内等地安装4座空气质量监测站。IRD将协助河 内开展预报与污染源分析，为政策制定提供科学依据，同时加强科研合作、数据与科学资料共享，并为 有关项目寻找国际赞助资金。 越通社11月7日报道，河内市人委会副主席阮孟权于11月6日会见法国研究发展院（IRD）驻越代表 处首席代表西尔万·乌伊永（Sylvain Ouillon），探讨双方在河内空气监测与污染减缓领域开展合作的可 能性。 阮对此表示欢迎并强调，该项目具有高度科学性和实践性，符合河内可持续发展方向。随着城镇化 进程加快，河内正面临空气污染、交通、基础设施及化石能源等多方挑战，需要基于现代科技的高效国 际合作方案。目前，河内正多措并举提升城市管理质效并改善人民生活，努力实现2030年前公交车全部 转为纯电动；鼓励私人交通工具和客运车辆转向清洁能源；并逐步在全市范围内建立低排放区域。在此 背景下，SEACAI 项目切实可行、契合实际且具有较高应用潜力。河内希望与IRD ...

安永大中华区可持续发展报告与鉴证服务主管合伙人刘国华在接受《中国经营报》记者采访时说，ESG 披露是落实"双碳"目标、推动高质量发展的重要抓手，能促使企业从"规模扩张"转向"价值提升"。从市 场端看，A股2473家上市公司披露了独立的ESG相关报告（含ESG报告、社会责任报告、可持续发展报 告等），披露率达45.67%，其中央企控股上市公司ESG披露率已达99.6%，且六成企业将ESG纳入高管 考核，形成可复制的管理范式。 《中国经营报》：2025年国内外监管标准密集出台，证监会已基本建成"交易所指引+编制指南"的信披 制度体系，你认为这一制度框架的核心突破点在哪里？对企业实践的指导意义是什么？ 刘国华：本次制度框架的核心突破点在于"强制性与精细化并重"。一方面，证监会与交易所通过"交易 所指引+编制指南"双层结构，明确了上证180、科创50等400余家重点企业需在2026年4月前完成ESG强 制披露，且要求覆盖范围1、2、3温室气体排放和碳资产交易等关键数据，将ESG纳入常态化监管轨 道。 另一方面，编制指南对总体要求和披露框架以及应对气候变化议题如何编制进行了详细的解读和说明， 基本解决了以往企业"无标可 ...

Group 1 - The meeting with L'Oréal's CEO highlighted the company's nearly 30-year presence in Jiangsu, contributing to high-quality employment and products, and emphasized the state's commitment to providing a stable and transparent environment for foreign investment [1] - L'Oréal plans to deepen cooperation with Jiangsu in design, research and development, and e-commerce to better meet diverse consumer needs and expand market opportunities [1] - L'Oréal's first self-built smart operation center globally has been established in Jiangsu, significantly enhancing supply chain efficiency, with intentions to increase investment and launch more quality projects in the region [1] Group 2 - The establishment of a technology innovation industry fund was witnessed by the provincial governor, aiming to enhance collaboration between Rio Tinto, CITIC Investment Holdings, and Suzhou Industrial Park [2] - Rio Tinto is recognized as a long-term partner in Jiangsu, with a focus on leveraging low-carbon technology innovation for sustainable development and enhancing resource sharing and information exchange [2] - The new fund aims to accelerate breakthrough technology research and application, linking quality financial and industrial resources to support Jiangsu's technological innovation and industrial upgrading [2]

Core Insights - The event showcased the sustainable development achievements of Jiangsu and Wuxi, emphasizing collaboration among financial institutions, industry leaders, investors, and experts in the field of sustainability [1] - The conference served as a platform to deepen cooperation between Wuxi and domestic and international investors, with the launch of the Guolian Group Ecological Alliance and multiple project signings [1] Investment and Economic Development - Wuxi has attracted 394 investment projects with a total investment scale of 62 billion yuan, focusing on sectors such as biomedicine, integrated circuits, advanced manufacturing, carbon neutrality, and artificial intelligence [2] - The city has established 89 new funds with a total scale of 34.2 billion yuan, successfully attracting 28 projects with an investment scale of 17.8 billion yuan [2] - Wuxi's industrial foundation includes seven industrial clusters with revenues exceeding 200 billion yuan, five of which are national-level advanced manufacturing clusters [2] Capital Market and Investment Environment - Wuxi has over 120 listed companies on the A-share market and a total scale of private equity funds reaching 85 billion USD, ranking among the top ten in China for equity investment activity [2] - The city is enhancing its multi-layered capital market service system and fostering a diversified venture capital development environment [2] Global Trade and Investment Climate - Wuxi's trade partners span 220 countries and regions, with over 7,200 foreign-funded enterprises and 118 Fortune 500 companies investing in the city [3] - The city has implemented ten measures to facilitate the entry of foreign nationals, including a 240-hour visa-free transit policy at the airport [3] Collaborative Ecosystem - The Guolian Group Ecological Alliance, which includes top global companies and institutions, aims to create a collaborative ecosystem driven by capital, industry synergy, and service empowerment [4] - The alliance is expected to inject strong momentum into Wuxi's future innovation and development [4] Focus on Sustainable Development - The conference emphasized the importance of building a cooperative ecosystem focused on new investments, green initiatives, and digital upgrades to foster sustainable high-quality development [5] - The Guolian Group plays a crucial role in linking various parties in Wuxi's industrial transformation and upgrading process [6] Guolian Group's Achievements - Guolian Group has developed into a local state-owned enterprise with total assets exceeding 330 billion yuan, managing financial assets totaling 2.2 trillion yuan and a fund scale surpassing 280 billion yuan [7] - The group aims to enhance its financial services, strengthen its industrial operations, and deepen its investment strategies to become a leading comprehensive local state-owned enterprise in China [7]

Core Insights - China Energy Construction Group has participated in the China International Import Expo (CIIE) for eight consecutive years, with cumulative contracts exceeding $10 billion [1] - The company focuses on technological innovation, showcasing products like "Energy Storage No. 1" and "Green Hydrogen No. 1" at the expo [1] - The company has significantly increased its R&D investment, with an average annual growth of 16% during the 14th Five-Year Plan period [2] Group 1: Technological Innovation - "Energy Storage No. 1" represents a compressed air energy storage solution, with the world's first 300 MW demonstration project achieving three world records [1] - "Green Hydrogen No. 1" focuses on hydrogen energy, providing integrated green hydrogen solutions and has over 50 related projects [1] Group 2: International Expansion - China Energy Construction has established over 260 overseas branches in more than 90 countries, with significant growth in international contracts and revenue [3] - At the CIIE, the company signed equipment procurement agreements worth $1.828 billion with various international firms [3] Group 3: Belt and Road Initiative - The company has signed contracts exceeding 600 billion yuan in Belt and Road Initiative countries over the past five years [4] - It has implemented numerous green energy projects in these countries, contributing to global energy transition [5] Group 4: Green Development - The company is actively involved in green energy projects globally, including significant solar and wind projects in various countries [5] - It emphasizes sustainable development by integrating ecological considerations into energy projects [6]

Core Insights - Yili Group showcased its products at the 8th China International Import Expo, highlighting its popular items such as yogurt and butter beer, which are sourced from its Oceania dairy operations [2] - The company has made significant investments in New Zealand, establishing an integrated dairy production base in 2014, which includes research, production, deep processing, and packaging [2] - Yili has expanded its global footprint, acquiring New Zealand's second-largest dairy company, Westland, in 2019, and has since upgraded its facilities to enhance production capacity [2] Group 1 - Yili's Oceania production base exports products to over 60 countries and regions, leveraging local advantages to ensure milk quality [2] - The company has developed 81 advanced automated production bases globally, with a notable liquid milk manufacturing base processing 6,500 tons of fresh milk daily [2] - Yili has established 15 innovation centers worldwide, including a national dairy technology innovation center in Inner Mongolia, involving over 150 industry partners and numerous experts [2] Group 2 - Yili actively practices social responsibility by implementing advanced thermal recovery technologies in its global production bases, reducing carbon emissions by approximately 42,000 tons annually [3] - The company has created the industry's first "sustainable development supply chain global network," focusing on eco-friendly packaging and carbon footprint management [3] - Yili aims to strengthen global industrial collaboration and enhance supply chain stability, continuously providing high-quality products and services to consumers [3]

Core Viewpoint - China Energy Engineering Group has participated in the China International Import Expo (CIIE) for eight consecutive years, with cumulative contracts exceeding $10 billion, showcasing its commitment to international cooperation and innovation in the energy sector [2][6]. Group 1: Technological Innovation - The CIIE introduced a procurement corridor for major enterprises, where China Energy showcased its innovative products, including "Energy Storage No. 1" and "Green Hydrogen No. 1" [3]. - "Energy Storage No. 1" represents a compressed air energy storage solution, with the world's first 300 MW demonstration project achieving three world records in power, storage scale, and system efficiency, with 100% domestic equipment [3]. - "Green Hydrogen No. 1" focuses on hydrogen energy, offering integrated green hydrogen solutions and has over 50 related projects, with a demonstration project in Jilin set to commence production soon [3]. Group 2: Research and Development Investment - China Energy has increased its R&D investment significantly, with an average annual growth of 16% during the 14th Five-Year Plan period, planning to invest 14.56 billion yuan in 2024, achieving an R&D intensity of 3.35% [4]. Group 3: Global Expansion and Achievements - The company has established over 260 overseas branches in more than 90 countries, with annual growth rates of 15.8% in new contracts, 15% in revenue, and 12% in total profit during the first four years of the 14th Five-Year Plan [6]. - At the CIIE, China Energy signed equipment procurement agreements worth $1.828 billion with companies like Hitachi Energy and Siemens Energy, which will be used in major projects in Saudi Arabia [6]. Group 4: Belt and Road Initiative - China Energy has actively participated in the Belt and Road Initiative, signing contracts worth over 600 billion yuan in the past five years, leveraging the CIIE as a platform for international cooperation [7]. Group 5: Green Development Initiatives - The company is focusing on global energy transition by implementing green energy projects in various countries, including a 2.6 GW solar power project in Saudi Arabia that integrates vegetation restoration [8]. - China Energy has undertaken nearly 20 GW of new energy projects in Belt and Road countries, emphasizing sustainable development through ecological and economic considerations [8].

Core Insights - The event showcased the sustainable development achievements of Jiangsu and Wuxi, emphasizing collaboration among financial institutions, industry leaders, investors, and experts in the field of sustainability [1] - The conference served as a platform to deepen cooperation between Wuxi and domestic and international investors, with the launch of the Guolian Group Ecological Alliance and multiple project signings [1] Investment and Economic Data - A total of 394 investment projects were announced, with a total investment scale of 62 billion yuan, focusing on sectors such as biomedicine, integrated circuits, advanced manufacturing, carbon neutrality, and artificial intelligence [2] - New funds established during the conference totaled 34.2 billion yuan, attracting 28 projects to Wuxi with an investment scale of 17.8 billion yuan [2] - Wuxi has seven industrial clusters with revenues exceeding 200 billion yuan, including five national-level advanced manufacturing clusters, and over 7,300 high-tech enterprises [2] Infrastructure and Ecosystem - Wuxi's industrial investment map was released, highlighting key industrial areas such as Liangxi urban industry, Binhu biomedicine, Xinwu integrated circuits, and Xishan new energy [2] - The city has over 120 A-share listed companies and a total private equity fund scale of 85 billion USD, ranking among the top ten in China for equity investment activity [2] - The Guolian Group has become a key player in Wuxi's industrial transformation, with total assets exceeding 330 billion yuan and managing financial assets totaling 2.2 trillion yuan [5] Collaborative Initiatives - The Guolian Group Ecological Alliance was launched to create a collaborative ecosystem driven by capital, industry synergy, and service empowerment [4] - Global top enterprises and institutions are already collaborating with Wuxi in various cutting-edge industrial fields, with a focus on green low-carbon economic development [4] - The conference aimed to foster a cooperative ecosystem focusing on new investments, green initiatives, and digital upgrades to contribute to sustainable high-quality development [4]

Financial Data and Key Metrics Changes - The company generated $21 million in revenues, up 44% from Q3 of last year, despite lower silver-equivalent ounces sold [10] - Gross profit was just shy of $10 million, with a gross profit margin of 47%, significantly improved from 39% in Q3 of last year [11] - The company achieved its highest ever quarterly profit with $7.7 million in net income after taxes, up from $1.2 million in Q3 of last year [11] - Cash position reached a record $57.3 million, up $20 million from the last quarter and $30 million from the end of the year [13] - Working capital increased by over $10 million in the quarter [14] Business Line Data and Key Metrics Changes - The operational excellence driver included advancements in automation and process upgrades, leading to strong mill performance and sustained throughput [5] - The acquisition of outstanding royalties and contingent payments on La Preciosa improved project economics and operational flexibility [6] - The company reported positive assay results from drilling at La Preciosa, with significant grades indicating potential for further resource capture [8] Market Data and Key Metrics Changes - Avino was included in the Toronto Stock Exchange 2025 TSX 30, ranking fifth among top-performing companies, with a share price performance increase of 610% over three years [9] - The company was added to the Market Vectors Junior Gold Miners Index and VanEck's Junior Gold Miners ETF (GDXJ) [9] Company Strategy and Development Direction - The strategic vision focuses on transitioning from a single production operation to a multi-asset Mexican mid-tier producer [4] - The company aims to execute a five-year organic growth plan, with La Preciosa processing material and plans for further exploration and drilling [14][26] - The company is committed to integrating AI technology to improve data analysis and exploration efficiency [24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's financial stability and growth potential, emphasizing the importance of operational discipline and market recognition [7][45] - The management highlighted the positive impact of hedging programs on financial performance, with expectations for continued benefits in the upcoming quarters [19] Other Important Information - The company reported a cash cost per silver-equivalent ounce of $17.06, up 14% from Q3 last year, with all-in sustaining costs at $24.06 per ounce, a 9% increase [12][17] - The company is focused on community engagement through various CSR initiatives, including health fairs and educational sponsorships [20][21] Q&A Session Summary Question: What is the targeted throughput rate from La Preciosa over the next few quarters? - The company is starting with one circuit and plans to ramp up to two circuits next year [29] Question: Can you provide insights on drilling results at La Preciosa? - The company is seeing significant high-grade results and improvements in width, with intervals beyond typical mining widths [32] Question: What factors will determine when La Preciosa will be reported as commercial production? - Revenue will be reported offset with cost of sales as soon as sales begin, following IFRS standards [39] Question: What is the maximum tonnage per day that can be processed from La Preciosa? - The mill is limited to 2,500 tons per day, and the company is contemplating an expansion [41]

Core Insights - The China International Import Expo (CIIE) showcases China's commitment to open cooperation and presents vast opportunities for global businesses [1][9] - The "Big Four" accounting firms (Deloitte, EY, KPMG, PwC) have participated in all eight editions of the CIIE, witnessing its growth and actively contributing to its success [2][3][4] Group 1: Participation and Contributions of the "Big Four" - Deloitte has evolved its participation from showcasing innovative solutions in AI and big data to collaborating with partners for high-quality development in China [2] - EY emphasizes its commitment to addressing enterprise needs and supporting China's high-quality development through its evolving exhibition themes [3] - PwC highlights its role in facilitating deep partnerships and providing high-quality professional services through the CIIE platform [4] Group 2: Innovations and Offerings - Deloitte's theme this year, "Together We Go Far," focuses on digital transformation, sustainability, and high-level openness [7] - EY launched an upgraded AI product at the expo, aimed at assisting enterprises in achieving green transformation and global development [7] - PwC's exhibition features interactive experiences and focuses on cross-border investment consulting and AI applications in professional services [8] Group 3: Strategic Importance of CIIE - The CIIE serves as a vital platform for transforming market opportunities into concrete collaborations and innovations, enhancing China's role in the global economy [10] - The event has evolved from a mere trade show to a collaborative platform for technology and innovation, shaping future industry dynamics [10] - The "Big Four" firms view the CIIE as a strategic resonance field that fosters partnerships and industry insights, contributing to mutual growth [10][11]