南方财经记者郭晓洁 实习生王泽楠 广州报道 随着绿色金融市场的快速发展，相关的资讯和数据变得越来越丰富。绿色金融周报从宏观视角和机构绿 色金融实践等角度，关注绿色金融领域的最新前沿动态，追踪绿色金融市场的最新趋势，为绿色金融相 关参与方提供决策依据和参考。 一、重点关注 1.数字人民币App上线碳普惠服务，丰富数字人民币绿色金融场景 在贴息政策方面，结合区域发展水平实行差异化贴息，对苏南、苏中、苏北设置不同条件，并将贴息比 例从1%提高至1.5%，资金采取先预拨后清算方式，实现"免申即享、直达快享"，且政策效力追溯至 2025年1月1日。 在融资保障方面，"环基贷"可与"环保贷""环保担"叠加使用，通过风险补偿基金或担保补偿资金分担风 险；同时简化申报流程，企业可直接向合作银行申请，优质项目可通过省绿色金融平台定向推送，以提 升贷款发放效率。此外，人民银行江苏省分行将定期监测通报业务情况，推动金融资源倾斜。 21碳中和课题组快评：此次江苏"环基贷"政策优化升级，从"范围扩大、贴息提升、流程简化"等维度精 准发力，体现了地方政府在绿色金融政策设计上的务实与灵活。将企业设备更新与技改项目纳入支持， 并取消融资规模 ...

Group 1: Industry Developments - The meeting held on January 7 by multiple departments aims to regulate competition in the power and energy storage battery industry, addressing issues like blind construction and irrational price competition that disrupt market order [2] - The National Energy Administration released the "Implementation Rules for the Management of Renewable Energy Green Power Certificates," which outlines a comprehensive management mechanism for green certificates, enhancing the scientific and operational aspects of the green certificate system [3][4] - The Ministry of Ecology and Environment plans to release 12 methodologies for voluntary greenhouse gas emission reduction projects by 2025, marking a significant expansion of the voluntary reduction market [5][6] Group 2: Regional Highlights - Inner Mongolia is set to increase its new energy installed capacity to over 170 million kilowatts by 2025, with wind power capacity exceeding 100 million kilowatts, and aims to enhance its hydrogen energy and storage systems [7] - The "Xinjiang Power to Chongqing" project has successfully connected its first batch of wind turbine units to the grid, expected to deliver approximately 24 billion kilowatt-hours of green electricity annually, significantly impacting the energy structure in Chongqing [8] Group 3: Future Trends - Roland Berger's report predicts that by 2026, comprehensive energy services will focus on solutions, ushering in a new era of zero-carbon parks, driven by supportive policies and technological advancements [9][10] - The report highlights three major opportunities for comprehensive energy services: demand release through policy support, market configuration driven by new energy market entry, and model upgrades encouraging distributed resource aggregation [10]

Core Viewpoint - The report from Zhongyin International indicates that global sales of new energy vehicles (NEVs) are expected to maintain high growth, potentially reaching a historical high by 2026, driven by strong demand and technological advancements in the industry [1][2]. Group 1: New Energy Vehicle Market - Global demand for new energy vehicles is projected to continue growing, with sales expected to reach approximately 26 million units in 2026, representing a year-on-year increase of about 15% [2]. - The market is experiencing steady growth, with increasing penetration rates and expanding market space, supported by the introduction of new models and advancements in smart and connected technologies [2]. Group 2: Battery Industry Outlook - The demand for power batteries is expected to grow significantly, with domestic installed capacity projected to maintain a high growth rate in 2026 [3]. - The market share of lithium iron phosphate batteries is anticipated to continue rising, while the costs of lithium battery raw materials have increased since October 2025, posing challenges for battery manufacturers in cost management [3]. Group 3: Material Sector Dynamics - The consensus on "anti-involution" in the midstream materials sector suggests that high demand coupled with cautious capacity expansion may lead to a supply-demand mismatch, particularly in the lithium hexafluorophosphate segment, which is expected to see price recovery [4]. - Companies in the tight supply segments, such as lithium iron phosphate cathodes, separators, anodes, and copper foils, are recommended for investment due to their potential for profit recovery [4]. Group 4: Solid-State Battery Development - The industrialization of solid-state batteries is accelerating, entering a phase of pilot testing and small-scale vehicle validation, which is expected to benefit equipment manufacturers and high-value material segments [5]. - Companies that can achieve stable supply, have mature processes, and clear cost reduction paths are recommended for investment, especially those that have collaborated early with industry leaders [5]. Group 5: Investment Recommendations - The new energy vehicle supply chain is expected to maintain high growth, with battery cell segments showing strong resilience in profitability [6]. - Investment focus is suggested on leading companies in tight supply segments and those involved in solid-state battery technology, including firms like CATL, EVE Energy, and others listed in the report [6].

交易咨询业务资格：证监许可【2012】1091号 沪铝周报（1.5~1.9） 大越期货投资咨询部:祝森林 从业资格证号：F3023048 投资咨询证号：Z0013626 联系方式：0575-85226759 重要提示：本报告非期货交易咨询业务项下服务，其中的观点和信息仅作参考之用，不构成对任何人的投资建议。 我司不会因为关注、收到或阅读本报告内容而视相关人员为客户；市场有风险，投资需谨慎。 目录 一、行情回顾 二、基本面（库存结构） 三、市场结构 上周回顾 沪铝周报： 沪铝上周震荡上行，上周主力合约上涨6.31%，周五收盘报24330元/吨。在碳中和下长期控制产能，国 内房地产压制需求不振，取消对铝材出口退税，对于国内铝价构成利空，消费有所影响，但注意铝代 铜机会。国内基本面上，需求进入淡季，关注后期消费变化。上周LME库存497825吨，较前周出现小幅 减少，SHFE周库存增14010吨至143828吨。 期货主力 数据来源：博易大师 供需平衡 数据来源：Wind 基本面 1、供需平衡表 2、铝 3、铝土矿 4、氧化铝 5、铝棒 供需平衡 | | | | 中国年度供需平衡表 铝(万吨) | | | | -- ...

Report Summary 1. Report Industry Investment Rating - Not mentioned in the provided content 2. Core Viewpoints - Copper: The supply side of copper is disturbed with smelting enterprises reducing production and the scrap - copper policy being relaxed. The December manufacturing PMI rose to the expansion range. However, the spot is at a discount to the futures. Copper inventories have mixed trends, and the price hit a new high with high - level fluctuations. Attention should be paid to position control [4] - Aluminum: There is a game between interest - rate cuts and weak demand. Factors such as carbon - neutrality controlling capacity expansion, geopolitical disturbances in Russia - Ukraine affecting Russian aluminum supply, and interest - rate cuts are positive. On the other hand, the global economic outlook is not optimistic and high aluminum prices may suppress downstream consumption, and the cancellation of export tax rebates for aluminum products are negative factors [5] 3. Summary by Relevant Catalogs Copper - **Fundamentals**: Supply - side disturbances, smelting enterprise production cuts, relaxed scrap - copper policy, and the December manufacturing PMI rising to 50.1% (up 0.9 percentage points from the previous month) are positive factors [4] - **Basis**: The spot price is 100,570 with a basis of - 840, indicating a discount to the futures, which is a negative factor [4] - **Inventory**: On January 9, copper inventory decreased by 2,100 to 138,975 tons, while the SHFE copper inventory increased by 35,201 tons to 180,543 tons compared to the previous week, showing a neutral situation [4] - **Market Chart**: The closing price is above the 20 - day moving average, and the 20 - day moving average is moving upwards, which is positive [4] - **Main Position**: The main net position is long, but the long position is decreasing, which is positive [4] - **Expectation**: Geopolitical disturbances in Indonesia's Grasberg Block Cave mine event are ongoing, and the copper price hit a new high with large - scale high - level fluctuations. Position control is necessary [4] Aluminum - **Spot Price**: The Shanghai spot price was 70,770, down 375; the Nanchu spot price was 70,690, down 450; the Yangtze River spot price was 70,870, down 400 [6] - **Inventory**: The SHFE warehouse receipt inventory was 70,798 tons, an increase of 699 tons; the LME inventory (daily) was 74,750 tons, a decrease of 425 tons; the SHFE inventory (weekly) was 136,300 tons, an increase of 29,728 tons [6] - **Supply - Demand Balance**: From 2018 - 2023, China's aluminum market was generally in a supply - shortfall situation, with shortages ranging from 4.31 to 68.61 million tons. In 2024, it is expected to have a supply surplus of 15 million tons [25]

Core Viewpoint - Huibo Technology Co., Ltd. (惠博普) is undergoing a potential change in its controlling shareholder, with the current major shareholder, Changsha Water Group, planning to transfer 25%-30% of its shares to a state-owned mechanical equipment enterprise, which may lead to a change in the actual controller of the company [2][8]. Company Overview - Huibo was established in 1998 and went public in 2011 on the Shenzhen Stock Exchange (stock code: 002554), focusing on technology-driven solutions for oil and gas field process equipment [2][8]. - The company has evolved from a single equipment supplier to an integrated service provider, covering the entire production system of oil and gas fields [4][10]. Development Stages - The development of Huibo can be divided into three key phases: 1. **Startup Phase (1998-2000)**: The company entered the market with proprietary products, achieving significant milestones such as winning contracts for oil and gas separation equipment [9]. 2. **Business Expansion (2001-2010)**: Transitioned to a system integrator, becoming the first private enterprise to provide oil and gas processing equipment for offshore oil in 2003 and starting overseas expansion in 2004 [9]. 3. **Scale and Internationalization (2011-Present)**: After going public, the company accelerated its expansion, with Changsha Water Group becoming the controlling shareholder in 2019 [9]. Core Business Segments - Huibo's core business includes: 1. **Oil and Gas Engineering and Services (EPCC)**: Offering comprehensive services from feasibility studies to construction, with projects in over 30 countries [11]. 2. **Environmental Engineering and Services**: Focusing on wastewater treatment and environmental protection, with plans to participate in carbon capture projects [11]. 3. **Oil and Gas Resource Development and Utilization**: Leveraging technical advantages to engage in domestic and international oil and gas field development [11]. Recent Developments - **Performance Improvement**: In the first three quarters of 2025, the company reported total revenue of 1.608 billion yuan and a net profit of 10.53 million yuan, marking a year-on-year increase of 113.73% [11]. - **New Project Launch**: The company secured a contract for the Naft Khana oil field revival project in Iraq worth 225 million USD, expanding its presence in the Middle East [11]. - **Control Change**: The planned share transfer by Changsha Water Group may lead to a change in the actual controller of Huibo [11]. Future Strategic Planning - **Digital Transformation**: Aiming to create a comprehensive digital service platform for the energy sector, promoting smart oil fields and digital twin technologies [11]. - **Dual Business Synergy**: Strengthening collaboration between energy services and water environment sectors, leveraging the advantages of Changsha Water Group [11]. - **Technological Innovation**: Continued investment in carbon neutrality technologies and high-end equipment development to enhance core competitiveness [11].

香港聯合交易所有限公司及證券及期貨事務監察委員會對本申請版本的內容概不負責，對其準確性或完整 性亦不發表任何聲明，並明確表示概不就因本申請版本全部或任何部分內容而產生或因倚賴該等內容而引 致的任何損失承擔任何責任。 SSI New Material (Zhenjiang) Co., Ltd. 鎮江貝斯特新材料股份有限公司 （「本公司」） （於中華人民共和國註冊成立的股份有限公司） 的申請版本 警告 本申請版本乃根據香港聯合交易所有限公司（「聯交所」）及證券及期貨事務監察委員會（「證監會」）的要求 而刊發，僅用作提供資料予香港公眾人士。 本申請版本為草擬本，其內所載資料並不完整，亦可能會作出重大變動。 閣下閱覽本文件，即代表 閣 下知悉、接納並向本公司、其獨家保薦人、整體協調人、顧問或承銷團成員表示同意： 倘於適當時候向香港公眾人士提出要約或邀請，有意投資者務請僅依據於香港公司註冊處處長登記的本公 司招股章程作出投資決定，招股章程的文本將於發售期內刊發供公眾閱覽。 (a) 本文件僅為向香港公眾人士提供有關本公司的資料，概無任何其他目的。投資者不應根據本文件中 的資料作出任何投資決定； (b) 在聯交所網站登載本 ...

Core Viewpoint - The article emphasizes the importance of developing distributed energy and integrated energy services as a crucial path towards carbon neutrality, highlighting the need for skilled professionals in energy planning and management [1]. Group 1: Training Overview - The training titled "Distributed Energy Planner (Integrated Energy Services Direction)" is organized to address the shortage of professionals in energy planning, conversion, and intelligent control [1]. - The training will take place online from January 14 to January 17, 2026 [2]. - The training is hosted by the Human Resources and Social Security Ministry's Social Security Capacity Building Center and organized by China Energy News Co., Ltd [2]. Group 2: Target Audience - The training targets various stakeholders including provincial and municipal power companies, energy groups, and enterprises in the oil and gas sector [2]. - It also includes new energy companies (wind, solar, storage), energy service companies, equipment manufacturers, and research institutions [2]. - Additionally, it is aimed at investment professionals in the integrated energy sector and those interested in distributed energy and integrated energy services [2]. Group 3: Course Outline - The course covers an overview of integrated energy services, including its connotations, driving forces, and current development status both domestically and internationally [3]. - It includes modules on planning comprehensive energy solutions, distributed photovoltaic projects, natural gas distributed energy applications, and smart microgrids [4]. - The curriculum also addresses hydrogen energy applications, new energy storage, energy efficiency projects, and zero-carbon factory assessments [4]. Group 4: Training Costs - The training fee is set at 3600 yuan per person, which includes training, materials, and certification costs [5]. Group 5: Contact Information - For inquiries, contact Yang at 15801248899 or Wang at 15201547047 [6].

Core Insights - The 2026 talent market in mainland China is characterized by a blend of "new" and "stable," with simultaneous challenges of "employment difficulty" and "recruitment difficulty" driven by factors such as industrial upgrades, human resource distribution, and demographic changes [8][9][19] - The demand for "immediate-use" and "composite" talents is urgent, particularly in fields like AI, 5G, and industrial internet, which are driving the development of Industry 5.0 [9][10] - The employment model is shifting towards a hybrid approach of "fixed employment + flexible supplementation," focusing on core functions for long-term positions while adapting to short-term needs [21] Job Demand and Employment Models - Companies are adopting a cautious and steady recruitment strategy, focusing on emerging sectors and revenue-driven areas [9][10] - The competition for high-level technical talents in advanced manufacturing, AIGC, and carbon neutrality is intense, while the demand for sales roles remains strong [9][10] - The hybrid employment model has become a strategic standard, balancing "strategic certainty" with "environmental uncertainty" [21] Salary Trends - Overall salary growth is moderate, with traditional manufacturing sectors seeing increases of 1%-2%, while healthcare and AI sectors may exceed 10% for core positions [2][24] - The expectation for year-end bonuses has shifted towards differentiated incentives, with flexible working hours and paid learning leave becoming more attractive [26][30] - The salary increase expectations are becoming more rational, with 59% of respondents targeting a 5%-15% increase when changing jobs [30][32] Talent Mobility - The talent market is entering a "low-initiative, high-observation" phase, with 43% of respondents willing to change jobs only for better opportunities [10][33] - Job stability and attractive compensation remain core demands, with non-monetary benefits gaining importance [10][30] - The confidence to switch jobs varies significantly across different sectors, with sales and IT roles showing higher confidence due to their demand and skill applicability [33] AI Impact and Skills Adaptation - AI is deeply restructuring the workplace, leading to challenges in skill adaptation, with 55% of workers feeling that AI training does not match job requirements [12][36] - Companies need to enhance AI applications and build flexible talent systems through partnerships with educational institutions and robust training frameworks [12][13][38] Strategic Recommendations - Companies should strengthen AI applications and provide timely training to enhance employee skills and maintain competitiveness [12][13] - Building organizational resilience and talent flexibility is crucial, with a focus on long-term strategic investments in talent development [13][14] - Establishing a new collaborative system that integrates human resources, AI, and robotics is essential for fostering trust and engagement in the workplace [15][19]

Group 1: Healthcare Payment System - The National Healthcare Security Administration aims to establish a convenient payment system for medical insurance within approximately three years, focusing on reducing long queues and payment difficulties for patients [1] - The initial rollout will include at least two cities from each province, with a target for effective implementation in designated medical institutions by 2026 [1] - By 2027, the plan is to achieve provincial coverage, and by 2028, to fully implement the system in all eligible medical institutions within the province [1] Group 2: Law Enforcement and Crime Reduction - In 2025, the national police reported a 12.8% decrease in criminal cases, reaching a record low for the century, with significant reductions in violent crime and traditional theft cases [4] - The police also reported a 3.5% decrease in public security cases, with no major traffic accidents recorded for the first time since 1990 [4] - A total of 210 police officers and 142 auxiliary police officers sacrificed their lives in the line of duty during the year [4] Group 3: Export Control and Trade - The Ministry of Commerce stated that China's export control measures on dual-use items to Japan will not affect civilian uses, emphasizing the country's commitment to maintaining global supply chain stability [5] - The measures aim to prevent the militarization and nuclear ambitions of Japan, which are deemed legitimate and lawful [5] Group 4: Battery Industry Regulation - The Ministry of Industry and Information Technology is working to regulate the competitive order in the power and energy storage battery industry due to rapid development and irrational competition [6] - The focus will be on enhancing market supervision, enforcing price regulations, and preventing overcapacity risks [6] - The initiative aims to promote fair competition and sustainable development within the industry [6] Group 5: Mineral Resource Exploration - The China Geological Survey announced significant breakthroughs in chromium ore and unconventional oil and gas exploration, with the discovery of 20 new mineral bodies in Xinjiang [6] - The average grade of the newly discovered chromium ore is 30.73%, addressing the strategic mineral shortage in the country [6] - Additionally, a new shale gas resource of 1329.5 billion cubic meters was identified in the western Hubei region, expanding the exploration efforts beyond the Sichuan Basin [6] Group 6: Railway Transportation - In 2025, the national railway system achieved a passenger volume of 4.588 billion, a 6.4% increase year-on-year, and a freight volume of 527.3 million tons, up 2.0% [7] - The railway network expanded to 165,000 kilometers, with high-speed rail exceeding 50,000 kilometers, maintaining a leading position globally in various transport metrics [7] - The modernization of railway infrastructure is seen as a key support for high-quality economic and social development [7] Group 7: Carbon Capture Standards - The National Market Supervision Administration approved 12 national standards for carbon capture, utilization, and storage, set to take effect on July 1, 2026 [8] - These standards will unify key processes and evaluation methods, promoting innovation and application in the carbon capture industry [8] - The implementation of these standards is expected to contribute to deep carbon reduction and high-quality development in the economy [8]