本报记者 王僖 12月12日晚，山东晨鸣纸业集团股份有限公司（简称"ST晨鸣"）发布《关于剥离融资租赁业务相关资产的公告》。公告显 示，为聚焦制浆造纸主业，该公司拟将旗下全部融资租赁业务相关资产，以总对价33.36亿元转让给寿光市财政局下属全资国有 企业寿光市晟嘉投资有限公司（以下简称"晟嘉投资"）。此举标志着该公司将彻底退出持续亏损的融资租赁领域，轻装上阵， 全力回归核心主业。 公告明确指出，本次交易是"为进一步聚焦制浆造纸主业发展战略"。出售资产所得款项将主要用于补充流动资金，支持主 业发展。交易完成后，该公司将不再从事任何融资租赁业务，相关公司也不再纳入合并报表范围。 为控制风险并确保交易顺利，本次交易设计了分期付款方案，并设置了严格的担保措施。协议规定，受让方需在股权交割 后将其持有的目标公司股权质押给转让方，作为其履行付款义务的担保。同时，在全部价款付清前，受让方从目标公司获得的 分红或融资款项，应优先用于偿还本次交易价款。 公告显示，晟嘉投资作为寿光市财政局设立的全资国有企业，其资信状况良好，具备较高履约能力。此前，为支持公司复 工复产，寿光市政府已提供了部分资金及担保。此次采取分期付款方式作为价 ...

Core Viewpoint - The Chinese health industry is entering a significant growth phase, driven by an aging population and increasing acceptance of traditional Chinese medicine, presenting substantial opportunities for companies like Shouxiangu [2] Company Strategy - Shouxiangu aims to become the leading brand in organic traditional medicine and the global leader in Ganoderma lucidum products, focusing on high-quality product offerings such as third-generation broken-wall Ganoderma spore powder and Dendrobium products [3] - The company emphasizes product quality and safety, which has garnered consumer trust and loyalty [3] - Shouxiangu's core product, Ganoderma spore powder, accounted for approximately 72% of sales in the first half of 2025, with 66.47% of sales occurring in Zhejiang Province [3] Market Expansion - The company is actively working to expand its market presence outside Zhejiang Province, where current sales are less than 10% [4] - Shouxiangu plans to adopt a dual approach for expansion: learning from successful models like those of Pianzihuang and Guizhou Moutai for rapid channel development and forming strategic partnerships with well-known pharmaceutical distribution companies [4] Digital Transformation - Digital empowerment is a key focus, with the company utilizing AI technology to enhance production efficiency and product quality, as well as employing digital marketing strategies to improve customer engagement and conversion rates [4] Industry Challenges - The traditional Chinese medicine sector faces pressures from high-end consumer contraction and inventory reduction cycles, necessitating a shift towards high-quality development [5] - Structural challenges include the need for traditional companies to innovate or risk marginalization, as well as changing consumer demographics with younger consumers becoming a significant market segment [5] Product Innovation - In response to the health trends among younger consumers, Shouxiangu is developing new products such as fermented drinks, snacks, and health teas, catering to various consumption scenarios [6] - The company is also innovating in product forms, offering tablets, capsules, and liquid forms to meet consumer demands for convenience [6]

Core Viewpoint - Wuliangye is a core force in the Yibin industrial landscape, recognized as a leader in the Chinese liquor industry, contributing significantly to local economic development while maintaining quality and innovation [1] Group 1: Financial Performance - In 2024, Wuliangye Group achieved a sales revenue of 195.297 billion yuan, a year-on-year increase of 10.3%, and a total profit of 47.243 billion yuan, up 10.86% [2] - For the first three quarters of 2025, Wuliangye (listed company) reported an operating income of 60.945 billion yuan and a net profit attributable to shareholders of 21.511 billion yuan [2] - The company plans to distribute over 10 billion yuan in cash dividends, reflecting strong financial health [2] Group 2: Growth Drivers - Wuliangye is actively cultivating new growth drivers through product innovation, channel reform, and digital empowerment [3] - The launch of the 29° Wuliangye "First Encounter" product targets younger consumers, achieving over 100 million yuan in sales within 60 days of its release [3] - The company has partnered with FIFA for a global product launch, enhancing its brand's international appeal [3] Group 3: Channel Innovation and Digitalization - In 2025, Wuliangye is focusing on channel innovation and digital construction, achieving an 8% year-on-year increase in online sales [4] - The company has implemented direct distribution in 20 core cities and has over 20 million members in its digital ecosystem [4] - These initiatives demonstrate Wuliangye's agility in responding to market changes and maintaining competitiveness [4] Group 4: Industry Ecosystem - Wuliangye plays a leading role in building a white liquor industry ecosystem in Yibin, contributing to the region's recognition as a premier production area [6] - The company has established a high-standard grain base of 1.7 million acres, benefiting 170,000 farming households [6] - Wuliangye's industrial cluster includes over 50 large-scale liquor enterprises and 280 small and medium-sized enterprises, forming a billion-yuan industry group [6] Group 5: Global Development - Wuliangye has received international recognition for its sustainable performance, winning the EFQM Global Award [8] - The company is expanding its international presence through cultural exchanges and innovative marketing strategies [8][9] - Wuliangye's "He Mei Global Tour" has reached 19 countries, promoting Chinese liquor culture globally [9][10]

"十四五"期间,青岛市牢牢抓住"安居"这个民生基点,构建以公租房、保障性租赁住房、配售型保障性住 房为主体的租购并举保障体系,累计建设筹集各类保障性住房14.43万套(间),实现城镇中低收入家庭应保 尽保、住房困难有效缓解、工薪家庭住有优居。其中,公租房申请"一件事"入选国务院优化政务服务典 型经验,配售型保障房轮候模式获住建部全国推广,市民居住条件明显改善,配租群众满意率提升。 从"住有所居"到"住有优居" 青岛市针对不同群体住房需求精准发力,实现保障范围从"特定群体"向"全阶层"延伸。针对城镇中低收 入家庭兜牢民生底线,通过实物配租与货币补贴结合,实现应保尽保。实物保障,累计配租公租房6万余套, 新建房源全部安装人脸和指纹识别门锁,杜绝转租转借；2021年以来新增公租房0.27万套。货币补贴,发 放租赁补贴3.2万户、5.1亿元,覆盖城镇低保、低收入及中等偏下收入家庭。 记者 赵波 青岛报道 三位一体体系成型 制度框架全面覆盖 青岛市坚持"政府主导、多元参与、市场运作"综合施策,建立起覆盖"租、购、补"全链条的住房保障制 度框架。其中,公租房在全省率先推行资格申请到配租入住全流程一网通办,2.8万套市财政 ...

Group 1 - The retail industry in 2025 is experiencing a "two extremes" situation, with a continuous wave of store closures alongside active transformation efforts [1] - In 2024, 782 supermarkets closed nationwide, and in the first half of 2025, 720 stores closed, with an estimated total of over 1500 closures for the year [1] - Major retailers are closing stores aggressively, with one local supermarket giant shutting down 273 stores in just 90 days from January to March [1] Group 2 - The trend of community-oriented and smaller store formats is becoming mainstream, with large retailers downsizing from thousands of square meters to around 3000 square meters for community living centers [1] - The aforementioned local supermarket giant plans to close 200-350 inefficient stores while opening 45 community stores in the western region [1] - These transformed stores are adding convenient services like package collection and housekeeping appointments, leading to a noticeable increase in foot traffic [1] Group 3 - The "store-warehouse integration" model is effectively addressing offline shortcomings, with several retailers converting stores into front warehouses and offering "online ordering, store delivery" services [2] - In the first half of 2025, stores adopting this model saw a significant increase in online sales, countering the decline in offline foot traffic [2] - Retailers are introducing discount and self-pickup store formats to cover diverse consumer needs, stabilizing their operations amid the closure wave [2] Group 4 - Retail transformation is inevitable, and the closure of over 1500 stores is both a release of industry pressure and an opportunity for structural optimization [3] - Companies must abandon the obsession with scale and focus on genuine consumer needs, combining the experiential advantages of physical stores with the convenience of online services [3] - A more efficient and consumer-oriented retail ecosystem is gradually forming, providing direction for the industry to emerge from the closure gloom [3]

日前，"上海先进能源装备产业集聚区"在闵行区正式揭牌。作为上海"市区协同"打造的千亿级产业集 群，先进能源装备及绿色低碳产业已成为闵行区的核心发力点。 揭牌仪式上，30家重点企业获得首批授牌。上海锅炉厂、国核自仪、西门子能源、氢枫能源……一系列 国内外能源企业的成功案例，反映出上海正以"数字化赋能"为核心驱动力，积极构建一片深度融合、内 外联动的先进能源装备产业生态热土。 为推动能源体系转型升级，抢抓产业机遇，集聚区提出升级清洁高效发电、先进电网、光伏光热三大优 势产业，培育聚变能源、氢基能源、长时储能、新型绿色技术四大未来赛道的核心发展战略，许多龙头 企业也参与到能源产业的布局与规划当中。 近年来，闵行区已累计建成39家先进级智能工厂，其中能源装备领域先进级智能工厂占比超1/3。这些 重点企业与先进智能工厂，正在成为创新要素区域聚集的"龙骨"。 如上海氢枫能源技术有限公司不仅推动镁基固态储氢等领域的技术创新，还参与了多项国家及行业标准 的制修订工作，并牵头起草《移动式大容量镁基固态储氢装置的安全技术要求》等多项团体标准，填补 了国内在镁基固态储氢领域的标准空白，为产业的规范化发展提供技术支撑。 如上海锅炉厂 ...

Core Viewpoint - The company, a leading down jacket brand in China, reported a 1% revenue growth and a 5% increase in net profit for the first half of the 2025/26 fiscal year, indicating stable performance despite challenges in certain segments [1][4]. Financial Performance - Revenue for the first half of the 2025/26 fiscal year reached 8.93 billion yuan, a 1.4% increase year-on-year, while net profit grew by 5.3% to 1.19 billion yuan [1]. - The revenue breakdown shows brand down jackets increased by 8.3% to 6.57 billion yuan, while OEM processing and women's wear saw declines of 11.7% and 18.6%, respectively [1]. - The overall gross margin improved by 0.1 percentage points to 50.0%, with brand down jackets' gross margin slightly decreasing due to higher sales growth in lower-margin distribution channels [1]. Inventory and Cash Flow Management - The company effectively managed inventory, reducing it by 20.3% year-on-year, and decreased inventory turnover days by 11 days [2]. - Cash flow remained robust, allowing the company to maintain a stable dividend payout, with an interim dividend of 6.3 Hong Kong cents, a 5% increase from the previous year [2]. Strategic Initiatives - The company is focusing on brand leadership, deepening its core categories, and enhancing digital capabilities to drive high-quality growth [3]. - Collaborations with top international designers and the establishment of an AI-driven design database are aimed at improving product innovation and efficiency [3]. - Online revenue for brand down jackets grew by 2.4% year-on-year, while the company expanded its physical store presence, adding 85 self-operated and 285 distribution stores [3]. Market Outlook - The company anticipates a sales boost in the second half of the fiscal year, supported by strong performance in down jacket sales since October [4]. - Profitability is expected to continue improving, with net profit growth projected at 11.1%, 10.2%, and 10.0% for FY2026 to FY2028 [4]. - The target price is maintained at 5.1-5.5 Hong Kong dollars, reflecting a favorable valuation for a leading player in the down jacket market [4].

齐鲁晚报·齐鲁壹点记者 李殷婷 2025年11月7日，由商务部主办的中华老字号国际交流活动暨第五届中华老字号创新发展大会平行交流 活动——护航老字号全球新征程在国家会展中心（上海）成功举行。活动旨在聚焦老字号品牌在全球化 进程中的机遇与挑战，汇聚政府、企业、平台与服务机构等多方力量，共同探寻老字号全球化发展的新 路径、新生态。商务部流通业发展司一级巡视员张祥、山东省商务厅副厅长王红，以及海外商协会、国 内外知名企业相关负责同志共百余人参会。 政策引领系统护航老字号"走出去" 张祥在致辞中强调，老字号是中华商业文化的珍贵遗产，推动其"出海"不仅是拓展国际市场的商业举 措，更是传播中华文化、增强国家文化软实力的重要使命。他指出，老字号出海是一项系统工程，需构 建多方协同、全链赋能的"护航"生态，助力老字号从"走出去"到"走进去"，实现品牌在全球市场的可持 续发展。 王红表示，本次活动标志着老字号出海从"资源汇聚"的1.0阶段，迈入"体系护航"的2.0新时代。山东将 持续强化政策引导与服务支撑，提升扶持精准度与服务有效性，致力于打造最优营商环境，成为老字号 出海坚实的"后方基地"与"服务驿站"。 智数赋能 破解出海 ...

金博会上，港深联合发布《关于携手打造港深全球金融科技中心的行动方案（2025—2027年）》（以下 简称《行动方案》）。 在不久前召开的深港金融合作委员会第三次会议上，香港特区政府财经事务及库务局（以下简称香港财 库局）与深圳市委金融委员会办公室（以下简称深圳金融办）签署了《关于推进深港黄金领域合作的备 忘录》（以下简称《备忘录》）。 上述两份文件为港深联手打造全球金融科技中心与深度融合的区域黄金生态圈，擘画了切实可行的蓝 图。这有助于进一步巩固提升香港国际金融中心地位，加快深圳建设具有全球重要影响力的产业金融中 心，推动深港金融合作迈向更高水平、更深层次、更广领域，为建设金融强国作出新的更大贡献。 六大举措力促深港共同打造 全球金融科技中心 《行动方案》聚焦两地业界需求和政策协同，强调两地互补优势、同向发力，勾画了两地金融科技企业 集聚、技术领先、场景丰富、创新活跃的美好合作未来。 《行动方案》提出六大重点任务： （一）引育集聚金融科技主体。争取国家金融监管部门及其直属机构发起设立科研中心、测评中心和服 务中心等；鼓励香港支付机构在深设立跨境支付技术服务主体；依托出海联盟拓展海外市场，共建"金 融科技联合孵 ...

2025年省级旅游休闲街区名单 11月14日，省发展改革委根据《旅游休闲街区等级划分》国家行业标准（LB/T082-2021）和《河南省省 级旅游休闲街区评定细则（试行）》，认定郑州阜民里旅游休闲街区、洛阳龙门古街、安阳邺熙里步行 街等12家休闲街区为2025年河南省省级旅游休闲街区。 至此，河南已培育7家国家级、40家省级旅游休闲街区，形成覆盖古都文化、工业遗存、运动休闲、乡 村民俗的多元矩阵。这些散落中原的文旅微单元，彰显着"文化铸魂、消费赋能、主客共享"的发展逻 辑，不仅成为游客打卡的新坐标，更是文旅市场以打造微单元拉动持续消费力的生动注脚。 河南旅游休闲街区的蓬勃发展，离不开"政策引导+市场运作"的精准发力。省级层面，《河南省提振消 费专项行动实施方案》明确对省级夜经济集聚区给予500万元财政奖励，夜经济集聚区中多包含旅游休 闲街区业态，奖励资金用于基础设施改造与业态升级。数字化赋能与服务升级让发展更具活力。街区利 用新媒体平台展开"引客"宣传，超七成探索"线上直播+线下体验"模式；洛阳龙门古街、郑州油化厂街 区引入智能导览、线上预约系统，提升游客体验；开封宋都御街、安阳邺熙里步行街通过"文化+科 技 ...