Company Overview - Dewel, established on August 19, 2009, is located in Jiangbei New District, Nanjing, Jiangsu Province, and was listed on July 8, 2020. The company specializes in the research, production, and sales of oil and gas equipment components [2]. Stock Performance - Dewel's stock price has increased by 69.54% year-to-date, with a 2.37% rise over the last five trading days, a 3.51% increase over the last 20 days, and a 35.94% increase over the last 60 days [2]. - As of September 22, the stock price reached 32.45 CNY per share, with a market capitalization of 6.317 billion CNY [1]. Financial Performance - For the first half of 2025, Dewel reported a revenue of 563 million CNY, a slight decrease of 0.04% year-on-year, and a net profit attributable to shareholders of 51.526 million CNY, down 7.17% year-on-year [2]. - The company has distributed a total of 134 million CNY in dividends since its A-share listing, with 103 million CNY distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, Dewel had 4,500 shareholders, a decrease of 20.98% from the previous period, with an average of 43,259 circulating shares per shareholder, an increase of 26.56% [2]. - Notable institutional shareholders include Noan Pioneer Mixed A (320003) as the third-largest shareholder with 8.7888 million shares, and Noan Preferred Return Mixed A (001743) as the seventh-largest with 3.8760 million shares, both maintaining their holdings [3].

Group 1 - The publication of "Xi Jinping's Excerpts on Civil Affairs Work" emphasizes the importance of strengthening the awareness of the Chinese national community and promoting exchanges among various ethnic groups [1][9][10] - Since the 18th National Congress, Xinjiang has integrated the strengthening of national community awareness into the entire process of economic and social development, showcasing a new chapter of ethnic unity and common prosperity [10] Group 2 - During the "14th Five-Year Plan" period, Anhui and Fujian are promoting the deep integration of technological innovation and industrial innovation to accelerate the construction of a modern industrial system [4][15] - Anhui has established, is constructing, and is researching 13 major scientific devices, with a total of 23 national key laboratories [14] - Fujian has focused on becoming a strong province for the private economy, with the number of high-tech enterprises increasing from over 6,400 five years ago to more than 15,000 today, with 95% being private enterprises [15] Group 3 - A package of policies aimed at boosting consumption has been continuously implemented, leading to stable growth in the consumption market and an optimization of the sales structure [5][16] - The Ministry of Commerce and nine other departments have jointly introduced measures to promote the expansion and upgrading of the "15-minute convenient living circle" in cities [6][17] Group 4 - The 22nd China-ASEAN Expo concluded with over 500 economic and trade projects signed, including 44 projects empowered by "AI+" [21] - The Hengqin Guangdong-Macao Deep Cooperation Zone achieved a total import and export value of over 128 billion yuan, with a year-on-year growth rate of 9.7% [22] - The China-Laos Railway has operated over 60,000 freight trains since its opening, with a total freight volume exceeding 67.6 million tons [23]

货通全球，我国海上航运贸易航线不断加密。今年，青岛港针对市场需求，新增了通往北非、中北美、东南亚等地的件杂货航线，件杂货航线累计超40 条。北部湾港不久前开通了通往越南、新加坡的一条RCEP新航线，目前集装箱航线已超90条。依托西部陆海新通道班列快线和"提前申报+抵港直装"等便利 化政策，北部湾港今年通关效率提升了10%—20%。今年前8个月，广西对东盟进出口2750.9亿元，同比增长12.9%。 央视网消息（新闻联播）：我国沿海地区持续做强做优海洋产业，加快提升创新驱动、高效协同能力，推动海洋经济高质量发展。 以创新赋能海洋经济高质量发展。浙江前瞻布局"人工智能+海洋"，推动海洋专用大模型应用。上海加速海洋集群产业发展规划，围绕十余家涉海高校 院所，推动海洋探索向深海和极地拓展。今年上半年，我国海洋生产总值5.1万亿元，同比增长5.8%，活力迸发的现代海洋图景徐徐铺展。 ...

Investment Rating - The industry investment rating is "Positive" (maintained) [7] Core Viewpoints - The offshore wind sector is expected to reach its peak in Q3, driven by optimistic domestic and international market conditions. Global offshore wind auction capacity is projected to reach 56.3GW in 2024, with an additional 100GW expected in the next two years. In China, the acceleration of offshore wind project construction since Q2 is anticipated to lead to a short-term performance realization in Q3 [1][2] - The profitability of components is expected to be strong due to the trend of larger wind turbines and expansion into overseas markets. The domestic wind turbine market is experiencing a shift towards larger models, leading to a temporary shortage of large components and increased bargaining power, resulting in excess profits in the component sector [2] - The turbine manufacturers are focusing on profit recovery and international expansion. Many turbine companies are entering a profit recovery phase, with improved cost structures and increased market demand. The price of wind turbines is expected to rise further, driven by a focus on quality and lifecycle economics [3][4] Summary by Sections Offshore Wind Market - The global offshore wind auction capacity is projected to reach 56.3GW in 2024, with an additional 100GW expected in the next two years. European countries are accelerating offshore wind projects, with significant increases in the number of grid-connected projects starting from 2026 [1] - In China, the acceleration of offshore wind project construction since Q2 is expected to lead to a performance realization in Q3, supported by policies promoting the "marine economy" and the advancement of deep-sea demonstration projects [1] Components Sector - The trend towards larger wind turbines is creating a temporary shortage of large components, enhancing the bargaining power of component manufacturers and leading to excess profits [2] - Domestic leading companies in the component sector are actively expanding into overseas markets, with significant increases in overseas orders expected to contribute to performance growth [2] Turbine Manufacturers - Turbine manufacturers are focusing on profit recovery through improved cost structures and increased market demand. The price of wind turbines is expected to rise further, driven by a focus on quality and lifecycle economics [3] - In 2024, domestic wind turbine exports are projected to reach 5.19GW, with cumulative exports expected to reach 20.79GW by the end of 2024. Companies like Goldwind and Mingyang Smart Energy are achieving breakthroughs in overseas markets [4] Investment Recommendations - Recommended companies for investment include: - Offshore wind infrastructure and towers: Dajin Heavy Industry, Haili Wind Power, and Tiensun Wind Energy - Submarine cables: Dongfang Cable, Zhongtian Technology, and Hengtong Optic-Electric - Castings and forgings: Jinlei Co., Riyue Co., and Guangda Special Materials - Turbine manufacturers: Goldwind, Yunda Co., Mingyang Smart Energy, and Sany Heavy Energy [5]

一方面，协同发力，助推产业创新。 "有了共享航次，不仅可以在真实场景测试产品性能，还能直接对接下游用户。"海南位姿导控技术有限 公司总经理助理李晓燕说。 海南组建深海技术创新中心，打造深海技术装备海试共享航次平台、陆地测试公共服务平台，推动深海 科技和产业组织模式创新。截至目前，共享航次已支撑68家参航单位和206名科学家、工程技术人员完 成68次下潜试验，助力深海技术装备应用改进和迭代升级。 海南省科技厅、工业和信息化厅、发展改革委、海洋厅和三亚崖州湾科技城高新区协同推进"深海技术 产业促进专项"，助力关键技术成果转化，带动三亚崖州湾科技城高新区去年新增深海科技产值7.7亿 元。 另一方面，立足优势，培育新增长点。 曾经默默无闻的南山港，如今在海南乃至全国都颇有名气。凭借出港半天即可抵达深海作业区的优势， 这里建起全国首个公共科考码头，去年服务科考海试1416航次，接近以往4年的总和。 南山港的蜕变，是海南向海图强的缩影。 2022年4月，习近平总书记在海南考察时强调："要推动海洋科技实现高水平自立自强，加强原创性、引 领性科技攻关，把装备制造牢牢抓在自己手里"。 2024年12月，习近平总书记在听取海南省 ...

Core Viewpoint - The submarine cable industry in China is experiencing rapid growth driven by the expansion of offshore wind power and marine energy development, supported by comprehensive government policies and technological advancements [1][6][12]. Industry Overview - Submarine cables are essential infrastructure for connecting power and communication networks across oceans, categorized into submarine communication cables and submarine power cables [2][3]. - The industry is positioned as a strategic resource for supporting the digital transformation of the marine economy and the construction of a global energy internet [6]. Policy Analysis - China's policies, including the "14th Five-Year Plan" for renewable energy, aim to promote the large-scale development of offshore wind power and marine energy, providing a robust support system for the submarine cable industry [6][10]. Industry Chain - The submarine cable industry chain in China includes upstream raw material supply, midstream cable manufacturing, and downstream installation and operation, with leading companies like Zhongtian Technology, Hengtong Optic-Electric, and Dongfang Cable dominating the market [8][12]. Market Demand - The offshore wind power market is the primary driver of submarine cable demand, with installed capacity expected to grow significantly from 9 million kW in 2020 to 41.27 million kW by 2024, reflecting a compound annual growth rate of 46.33% [10][12]. - Marine energy is also a key market, with a target of 400,000 kW installed capacity by 2030, further expanding the demand for high-end submarine cables [11][12]. Current Industry Status - The submarine cable industry in China is in a phase of technological leadership and market expansion, with a projected market size of approximately 230 billion yuan by 2024 [12]. - The industry has achieved significant technological advancements, including a complete technical system covering voltage levels from 220kV to 500kV [12]. Competitive Landscape - The industry exhibits a concentrated oligopoly structure, with the top three companies—Dongfang Cable, Zhongtian Technology, and Hengtong Optic-Electric—holding a combined market share of 87% [13][14]. - International competitors like Prysmian and Nexans dominate the high-end market, while Chinese companies are expanding into emerging markets in Southeast Asia and Africa [13][14]. Future Development Trends - The submarine cable industry is expected to undergo a transformation towards high-end, intelligent, and green technologies, with a focus on dynamic cables and AI operation systems [16]. - The market is anticipated to expand globally, with emerging scenarios such as submarine data center interconnections and marine observation networks contributing to significant growth [17]. - The industry will evolve towards a collaborative ecosystem, enhancing supply chain resilience and establishing international standards [18][19].

扬子晚报网讯(记者朱亚运)9月17日上午，作为2025南通船舶海工产业期间的子活动之一，吕四港临港装备制造专场恳谈会举行。会上，吕四港经济开发 区相关负责人作投资环境推介，围绕海洋工程、模块化制造、油气装备、浮式平台等产业开展交流分享。 吕四港经济开发区作为启东市向海发展的主阵地，正锚定"三千一百"(固定资产累计投资超千亿元、制造业产值超千亿元、港口物流贸易超千亿元、税收 突破百亿元)目标，充分放大"深水港口+广阔腹地+综合集疏运体系"优势，全力建设世界一流港口，发展千亿临港产业，打造现代国际港城。王裕兵表 示，海洋是高质量发展的战略要地，临港装备产业则是推动这一战略实施的重要引擎。当前的海洋经济方兴未艾，临港装备产业正加速向着绿色、智能方 向转型。吕四港将拿出最大的诚意、最优的环境、最好的服务，欢迎大家来这里考察洽谈、投资兴业，希望能够与大家一起在这片蓝色沃土上。 校对胡妍璐 启东地处万里长江入海口，位于黄金水道与海岸"T"字型结合部，东临太平洋、西通长江中上游城市群、南邻上海国际大都市、北接广袤的苏北平原腹 地，是通江达海的第一门户、对接苏南的前沿阵地。吕四港更是启东全面推动向海发展、发力海洋经济的强支撑 ...

Group 1 - The core viewpoint of the news is that Xue Ren Group's stock has shown significant fluctuations, with a year-to-date increase of 59.42% and a recent trading volume indicating active market participation [1] - As of August 20, 2023, Xue Ren Group's main business revenue composition includes 50.48% from compressors, 25.18% from oil and gas technology services, 21.75% from ice-making equipment, and 2.59% from central air conditioning systems [2] - The company has been listed on the stock market since December 5, 2011, and has a total market capitalization of 84.37 billion yuan as of September 16, 2023 [1][2] Group 2 - Xue Ren Group's revenue for the first half of 2025 is reported at 960 million yuan, reflecting a year-on-year growth of 19.56%, while the net profit attributable to shareholders is 26.89 million yuan, up 18.50% [2] - The company has not distributed any dividends in the last three years, with a total payout of 74.42 million yuan since its A-share listing [3] - As of June 30, 2025, the second-largest shareholder is Hong Kong Central Clearing Limited, holding 14.37 million shares, an increase of 7.31 million shares from the previous period [3]

Core Viewpoint - The Chinese marine tourism industry has evolved into a strategic emerging industry that integrates marine economy and cultural tourism, supported by continuous policy initiatives and innovative local strategies, aiming for high-quality and sustainable development [1][6][10]. Group 1: Overview of Marine Tourism Industry - Marine tourism is centered around marine resources, fulfilling both spiritual and material needs through activities like marine sightseeing, entertainment, and vacationing, covering coastal, island, nearshore, offshore, and deep-sea areas [2][3]. - The industry has transitioned from simple coastal sightseeing to diverse new formats such as cruises, yachts, and island resorts since its inception in the 1980s [5][6]. Group 2: Development Drivers - Recent policies, including measures to boost tourism consumption and plans for domestic tourism enhancement (2023-2025), have created a comprehensive support system for marine tourism, facilitating its high-quality development [6][9]. - Local governments are implementing innovative policies and major projects to accelerate marine tourism development, such as Shandong's four major projects and Hainan's free trade port initiatives [6][7]. Group 3: Industry Chain - The marine tourism industry chain consists of tightly linked upstream resource development, midstream product innovation, and downstream market expansion, forming a complete closed loop [7][9]. Group 4: Current Industry Status - The marine tourism sector achieved a value-added of 1.6135 trillion yuan in 2024, marking a 9.2% increase, and accounted for 36.9% of the marine GDP, reinforcing its dominant position [10][11]. - Hainan province has emerged as a key area, receiving 97.21 million tourists in 2024, a growth of 8%, with total tourist spending exceeding 200 billion yuan [11][12]. Group 5: Future Trends - The marine tourism industry is expected to evolve towards high-quality, diversified, and international development, with a focus on immersive experiences and integration with culture, sports, wellness, and technology [13][14]. - Sustainability will be driven by ecological protection and digital transformation, with an emphasis on low-carbon operations and smart management [14][15]. - The market will expand with new opportunities in low-altitude tourism and deep-sea exploration, enhancing China's global competitiveness in marine tourism [15].

中国农业银行大连长海海洋支行行长 吴振强 2025年9月15日 9月15日，经济日报在头版头条刊发长篇调研《大连逐浪》，深入展示了大连在海洋经济领域的蓬勃发 展与创新突破，作为农行大连长海海洋支行负责人，读完文章内心倍感振奋与自豪。 大连这片位于北纬39度的宝地，拥有着无与伦比的海洋资源，从"蓝色粮仓"里丰富的海产品，到"大国 重器"的诞生，再到海洋科技的创新突破，每一项成就都彰显着大连向海图强的决心和努力。 在金融助力海洋经济发展的浪潮中，作为扎根在边境海岛的金融力量，我们始终坚守初心使命，聚焦海 洋经济产业链各环节，紧跟大连"产业强海""科技兴海"的步伐，不断创新金融产品和服务模式。通过优 化审批流程、缩短放贷周期，切实缓解企业和养殖户的资金周转压力；深入偏远海岛村落，为养殖户普 及金融知识，利用线上平台打破地域限制，提供便捷的账户管理、资金结算等服务，让金融活水流向海 岛深处。同时，积极为海洋文旅项目提供融资支持，助力打造国家级旅游度假区，带动当地人气与经济 发展，让金融服务精准滴灌到海洋经济发展的每一个关键节点。看着一笔笔贷款投入到海洋牧场建设、 海产品精深加工、渔业科技创新等领域，看着渔民们的养殖区 ...