Core Viewpoint - Nanjing Chemical Fiber has announced a significant asset restructuring plan involving the acquisition of 100% of Nanjing Gongyi Equipment Manufacturing Co., Ltd. through asset swaps, share issuance, and cash payments, aiming to enhance its business focus and financial health [1][2][3] Group 1: Transaction Details - The transaction involves an asset swap where Nanjing Chemical Fiber will exchange its assets and liabilities for a portion of Nanjing Gongyi's shares, specifically 52.98% [1][2] - The total transaction price for the assets being divested is set at 729.27 million yuan, while the assets being acquired are valued at 1.6066757 billion yuan [2] - Nanjing Chemical Fiber plans to raise up to 440 million yuan from specific investors to support this transaction, with the issuance not exceeding 30% of the company's total shares prior to the transaction [1][2] Group 2: Business Transformation - The company aims to shift its core business from producing viscose short fibers and other products to developing and manufacturing rolling functional components, which are essential for high-end equipment manufacturing [2][3] - This new focus aligns with national strategies for technological innovation and is considered a key area for government support [2] Group 3: Financial Performance and Challenges - Nanjing Chemical Fiber has faced significant financial difficulties, reporting net losses for four consecutive years from 2021 to 2024, totaling approximately 4.49 billion yuan in 2024 alone [4] - The company has also experienced continuous losses in its net profit excluding non-recurring items over the past seven years, amounting to around 1.662 billion yuan [4] - Despite previous attempts to alleviate financial pressure through acquisitions, the performance of acquired companies has negatively impacted Nanjing Chemical Fiber's financial results [5] Group 4: Future Outlook - The company anticipates continued losses in 2025, projecting a net loss between 74 million and 111 million yuan, with expected revenues between 27 million and 33 million yuan [7] - The stock may face delisting risk warnings following the disclosure of the 2025 annual report, as per the Shanghai Stock Exchange regulations [8]

【导读】中成股份、厦门港务重组事项同日获批 中国基金报记者忆山 两家国资上市企业重要重组事项同日获批！ 2月13日，证监会官网显示，中成股份、厦门港务发行股份购买资产并募集资金事项均获得注册批复。 中成股份重组事项获批 去年5月，中成股份发布公告称，拟通过发行股份方式购买中国技术进出口集团有限公司持有的中技江 苏清洁能源有限公司（以下简称中技江苏）100%股份，并向不超过35名特定投资者发行股份募集配套 资金。今年1月23日，该事项获深交所审核通过。2月13日，获证监会注册批复。 批复文件显示，证监会同意中成股份向中国技术进出口集团有限公司发行1353.56万股股份购买相关资 产的注册申请，同意公司发行股份募集配套资金不超过1.51亿元的注册申请。 资料显示，中成股份是大型央企通用技术集团旗下子公司，主营业务包括成套设备出口和工程承包、环 境科技、复合材料生产。中技江苏主营业务为工商业用户侧储能项目的投资、开发和运营。 厦门港务是厦门港务控股集团有限公司旗下港口物流板块经营单位，作为国有控股企业，公司主要从事 散杂货码头装卸与堆存、港口配套服务与综合供应链业务。厦门集装箱码头集团主要从事集装箱码头装 卸与堆存 ...

Economic Performance - In 2025, China's GDP grew by 5.0%, reaching a total of 140 trillion yuan, meeting the initial target[10] - Fixed asset investment saw a decline of 3.8%, marking the first annual negative growth since records began[10] - Retail sales of consumer goods increased by 3.7%, with service consumption growing at 5.5%[10] 2026 Outlook - GDP growth is projected at 4.8%, with expectations of improved internal demand and a narrowing of supply-demand disparities[5] - CPI is expected to recover moderately, with the decline in the GDP deflator narrowing from -1.0% to around -0.2%[6] - Investment is anticipated to stabilize, with marginal improvements in manufacturing and a reduction in the decline of real estate investment[8] Capital Market Trends - The A-share market is expected to continue its structural bull market, led by the technology sector, with global funds increasing allocations to Chinese assets[7] - The RMB exchange rate is projected to appreciate moderately to around 6.8[7] Risks and Challenges - Insufficient internal demand and low prices are mutually reinforcing, leading to weak consumption and investment growth, which pressures corporate profits[11] - The real estate market is undergoing deep adjustments, with ongoing declines in investment and high inventory levels affecting market confidence[11] - High youth unemployment rate at 16.5% poses structural challenges to employment and income stability[11]

投资者结构持续优化 (●) 机构持有股票市值占比提升至 2l.l% 平均股息率 2.4% 股票市值 (全球排名第三位) ⊙ 65万亿元 ... .. .. .. .. ◇) 持续完善指数及产品体系 新发布科创综指 为市场全面了解科创板运行整体情况提供表征 沪市ETF规模 (亚洲第二大ETF市场) (●) 4.2万亿元 同比增长 55% 同比增长 其中: 债券ETF规模 约6000亿元 291% 科创债ETF规模1994亿元 融资功能有效发挥 远超2024年 IPO受理66家 同比增长31.3% IPO上市42家 股票首发融资额812.9亿元 | 同比增长1.5倍 : ・・・・・ 股票再融资额9602亿元 同比增长3.8倍 聚焦服务新质雪音力 科创成长层新上市禾元生物、摩尔线程、沐曦股份等 6家企业 科创成长层已汇聚39家企业(截至2026年2月13日) 同比增长 科创板新增股权融资 1073亿元 2.8倍 并购市场活力进发 新增披露资产重组 其中: 重大资产重组 9|4家次 95家次 同比增长 3 830% 大型吸收合并、多元支付等创新示范性项目相继涌现 沪市围绕新质生产力的并购重组占比 近7成 债券市场提质 ...

2月13日，海致科技(02706)正式登陆港交所，当日涨幅242%，成为2026年港股上市首日表现最优的新 股。 作为"大模型除幻第一股"，海致科技上市首日开盘即大幅走强，收盘报92.6港元，盘中最高触及99.6港 元。 据悉，在此次基石投资者中，无极资本(Infini Capital)是其中唯一一家国际资本，据公开数据，这家机 构近年在科技与AI赛道频频出手。2025年以来，该机构在港股市场动作频频，先后以基石、战略投资 等形式参与了商汤科技、第四范式、微盟集团、蓝思科技（300433）等多家企业融资，累计向中国科技 赛道投入资金超150亿港元，且被投公司股价大多呈现稳健走强态势，明星机构加持也令被投公司在市 场上受到广泛关注。 市场人士表示，中国AI科技企业的市场表现，反映了全球资本对具备技术壁垒与商业化能力企业的青 睐，以及AI产业从概念走向实用的趋势。同时，全球资本对中国AI产业长期成长性的信心，也将进一 步强化港股作为中国科创资产全球配置窗口的地位，科技与资本的深度融合，也将持续为新质生产力发 展注入持久动力。 ...

作为"大模型除幻第一股"，海致科技上市首日开盘即大幅走强，收盘报92.6港元，盘中最高触及99.6港 元。 2月13日，海致科技（02706）正式登陆港交所，当日涨幅242%，成为2026年港股上市首日表现最优的 新股。 据悉，在此次基石投资者中，无极资本（Infini Capital）是其中唯一一家国际资本，据公开数据，这家 机构近年在科技与AI赛道频频出手。2025年以来，该机构在港股市场动作频频，先后以基石、战略投 资等形式参与了商汤科技、第四范式、微盟集团、蓝思科技等多家企业融资，累计向中国科技赛道投入 资金超150亿港元，且被投公司股价大多呈现稳健走强态势，明星机构加持也令被投公司在市场上受到 广泛关注。 市场人士表示，中国AI科技企业的市场表现，反映了全球资本对具备技术壁垒与商业化能力企业的青 睐，以及AI产业从概念走向实用的趋势。同时，全球资本对中国AI产业长期成长性的信心，也将进一 步强化港股作为中国科创资产全球配置窗口的地位，科技与资本的深度融合，也将持续为新质生产力发 展注入持久动力。 ...

Core Viewpoint - The article emphasizes the importance of implementing the Party's leadership in central enterprises to ensure high-quality development and adherence to the principles set forth by the Party's leadership [1][2][3]. Group 1: Meeting Overview - The meeting was chaired by Zhang Yuzhuo, where central enterprise party secretaries reported on their responsibilities and issues in party building [2]. - Zhang Yuzhuo highlighted the need for party secretaries to take responsibility for party governance and to ensure the implementation of strict party discipline [2][3]. Group 2: Key Responsibilities and Actions - Central enterprises have been working to strengthen the Party's leadership and improve the institutional framework for governance, ensuring the implementation of the Party's directives [2]. - There is a focus on enhancing political supervision and ensuring that the Party's leadership is integrated into all aspects of corporate governance [3]. - The article stresses the importance of aligning party building with operational performance to enhance the effectiveness of enterprises in contributing to national goals [3]. Group 3: Future Directions - The emphasis is placed on continuous improvement of the Party's leadership mechanisms and enhancing the effectiveness of political supervision [3]. - There is a call for deeper integration of party work with production and operations, particularly in key areas such as technological and industrial innovation [3]. - The article advocates for maintaining a high-pressure stance against corruption and fostering a clean political environment within enterprises [3].

责任编辑：石秀珍 SF183 据中国驻美国大使馆，农历丙午马年春节前夕，中国驻美国大使谢锋发表致全美侨学界的新春贺词。全 文如下： 一年来，广大侨胞心系桑梓，为祖（籍）国发展贡献力量；莘莘学子勤学笃行，展现新一代中国青年的 昂扬风采；中资企业拼搏奋斗，为中美互利合作注入源源活力。一年来，我广泛接触侨胞、学子和中资 机构人员。从沐浴新春佳节的祥和暖意，到品味端午相聚的浓浓乡情；从聆听抗战胜利80周年的激昂旋 律，到分享华盛顿中国文化节的欢声笑语，许多场景给我留下深刻印象。大家的付出，我看在眼里；大 家的冷暖，我放在心上。虽然身处美国不同地方，但我们心手相连、心灵相通，都致力于中美互利合作 和人民友好事业。旅美同胞的心之所向，就是驻美使领馆的工作重点方向。我们将继续全心全意践 行"外交为民"宗旨，用心用情解决大家的急难愁盼，助力大家在美工作学习生活得安心、顺心、开心。 一元复始，万象更新。即将到来的丙午马年，是中国"十五五"规划的开局之年，也是中美探索新时期正 确相处之道的关键之年。让我们策马扬鞭，共赴新程！祝愿伟大祖国各项事业如万马奔腾，日新月异！ 祝愿中美关系克难前行，趋稳向好！祝愿大家龙马精神、马到成功！ ...

Core Viewpoint - The Jiangsu Provincial Association for Science and Technology has released a list of 80 new quality productivity science and technology museums for 2025, with eight selected from Wuxi, ranking second in the province. These museums aim to promote the latest achievements in new quality productivity and enhance public engagement with science and technology [1]. Group 1 - The selected museums in Wuxi include various institutions such as the Ping An Wuxi Experience Center, Smart Power Technology Museum, Intelligent Manufacturing Technology Science Museum, and others, all of which are open for public visits by appointment [2]. - The Ping An Wuxi Experience Center focuses on anti-fraud education and features multiple themed areas, including a VR simulation of scams and various interactive projects [2]. - The Intelligent Manufacturing Technology Science Museum provides public education on advanced technologies in IoT, high-end equipment, energy conservation, artificial intelligence, and the metaverse, reflecting the transformation of traditional manufacturing into new quality productivity [3].

Core Points - The Ministry of Finance, General Administration of Customs, and State Taxation Administration have issued a notice regarding tax incentives for technology innovation imports during the "14th Five-Year Plan" period, effective from January 1, 2026, to December 31, 2030 [4][22] - The policy aims to support scientific research institutions, technology development institutions, schools, party schools, and libraries by exempting them from import duties and value-added taxes on certain educational and research materials [4][5] Group 1 - The policy exempts import duties and value-added taxes on scientific research, technology development, and teaching supplies that cannot be produced domestically or do not meet performance requirements [4][6] - The scope of eligible institutions has been significantly expanded compared to previous policies, now including a wider range of research and educational entities [4][5] - A list of exempted import goods will be managed and published by the Ministry of Finance in collaboration with relevant departments [4][20] Group 2 - The policy is part of a broader strategy to implement the "Science and Education Empowering the Nation" and "Innovation-Driven Development" strategies, aiming to accelerate high-level technological self-reliance and lead the development of new productive forces [5][6] - The management measures for the tax incentives will be further detailed in a separate notice to ensure effective implementation [6][21] - The policy is set to be in effect for five years, from January 1, 2026, to December 31, 2030 [22][32]