2025年三季度，公司实现营业收入2.25亿元，归属于上市公司股东的净利润0.62亿元；截至2025年第三 季度末，龙江交通归属于上市公司股东的净资产46.53亿元，总资产54.79亿元。 龙江交通称，项目的实施符合国家政策，可以助力公司完善石墨产业链布局，拓展公司第二主业，提高 利润水平，实现公司高质量发展。 近年来，随着科技发展以及对石墨结构和功能的广泛探索和深入研究，石墨及其制品已经广泛应用于机 械、冶金、化工、航天、新能源、汽车等多个行业且占比逐年增长，已成为国家战略性新兴产业发展不 可或缺的基础性材料，特别是在新能源汽车、储能、密封材料等领域将持续快速扩张。当前，石墨作为 燃料电池、锂离子电池、超级电容器等新型高效能源器件生产的辅助原料，得到大量应用，市场前景广 阔。 龙江交通（601188）12月10日召开2025年第三季度业绩说明会，公司针对2025年第三季度的经营成果及 财务指标的具体情况与投资者进行交流。 2025年前三季度，龙江交通在主营业务方面，高速公路管养水平实现提质增效，运营管理能力持续增 强；在新兴产业领域，新材料与新能源业务布局加速推进，产业化发展取得阶段性进展。 值得一提的是， ...

Core Insights - The lithium battery industry has undergone three main policy development phases: capacity expansion and technology foundation (2016-2018), forced technological upgrades and structural optimization due to subsidy reductions (2019-2020), and a focus on high-quality development and ecological restructuring driven by carbon neutrality goals (2021-2024) [1][3] Policy Development Phases - **Phase 1 (2016-2018)**: National policies centered on subsidies, promoting energy density improvements in power batteries, with a focus on rapid capacity expansion and market penetration, albeit with risks of low-end repetitive construction [1] - **Phase 2 (2019-2020)**: Gradual reduction of subsidies led to a push for technological upgrades and structural optimization, with lithium-ion batteries and related materials classified as key products in strategic emerging industries [1][7] - **Phase 3 (2021-2024)**: Policies emphasize green manufacturing, recycling systems, and global layout, with requirements for carbon emission intensity and the establishment of recycling networks for used batteries [1][3] National Policy Summary - A series of national policies have been introduced to support the lithium battery industry, including regulations on battery recycling, safety in transportation, and technological innovation [3][4] - Key policies include the 2024 guidelines for the comprehensive utilization of used power batteries, which set minimum recycling capacities and investment requirements [4][5] Provincial Policy Overview - Local policies have shifted towards precise support, with provinces like Shanghai and Jiangsu focusing on high-end battery materials and collaborative industrial bases to reduce costs [10][11] - Specific targets have been set by provinces, such as Fujian aiming for a lithium battery production capacity of over 500 GWh by 2025, and Guizhou targeting a total output value of over 100 billion yuan [12][15] Industry Development Goals - The industry is moving towards high safety and long-life battery technologies, with significant investments in R&D for new materials and recycling processes [10][12] - The overall goal is to enhance the competitiveness of the lithium battery industry, with a focus on sustainable practices and technological advancements [14][15]

京津冀、长三角、粤港澳大湾区动能更强劲，2024年三地经济体量占全国40%以上；东北地区战略支撑更牢靠，去年粮食产量占全国 25.3%；"西电东送"输电能力超过3亿千瓦，"东数西算"八大枢纽节点算力规模约占全国70%……"十四五"期间，我国山海协同、陆海联动，以 系统性思维下好区域协调发展"一盘棋"，让每一寸热土澎湃高质量发展动能。 跟随这组海报，一起领略区域协调发展激发新动能、万里山河蓬勃新活力的壮美画卷。 凯华社 长三角构建高质量发展强劲增长极 in 11 12 11 12 1 - TIME · 京津冀地区实现市市通高铁 实现核心区1小时通勤圈和相邻城市之间1.5小时交通圈 · 北京输出至津冀的技术合同成交额累计达2308.7亿元 · 三地共同绘制了新能源汽车、机器人等6条重点产业链图谱 THE BEFFE · 地区生产总值突破33万亿元、占全国总量约1/4 · 集成电路、生物医药、人工智能产业规模分别占到全国 3/5、1/3、173 即华丽 RA TO D 大湾区规则衔接机制对接待续深化 · 研发经费投入占GDP比重达3.34% 超过全国平均水平近0.7个百分点 · 2024年长三角数据产业规模占全国的 ...

"做优增量、盘活存量"是关键。做优增量必须因地制宜发展新质生产力，培育战略性新兴产业和未来产 业；保持投资合理增长，提高投资效益，扩大有效投资。但是，相对我国经济巨大的存量，做优增量在 规模上不足以支撑经济稳定增长，因此，必须盘活存量，让存量资产和传统产业焕发新效能，包括优化 提升传统产业，推动技术改造升级，促进制造业数智化转型以及服务业优质高效发展。 盘活存量的重点是盘活闲置与低效资产。要盘活用好低效用地、闲置房产、存量基础设施等。近日，国 家发展改革委对基础设施REITs发行范围作了进一步拓展，纳入商业办公设施、城市更新设施、体育场 馆、商旅文体健、四星级及以上酒店等资产。还需完善并购、破产、置换等政策，整治"内卷式"竞争， 鼓励兼并重组与市场退出，出清低效或无效产能。 12月8日，中共中央政治局召开会议，分析研究2026年经济工作。会议指出，明年经济工作要坚持稳中 求进、提质增效，继续实施更加积极的财政政策和适度宽松的货币政策，发挥存量政策和增量政策集成 效应，加大逆周期和跨周期调节力度，切实提升宏观经济治理效能。 明年"继续实施更加积极的财政政策和适度宽松的货币政策"，这与2025年的政策取向一致，保 ...

标的主要从事检验检测业务，拥有材料分析、可靠性、物理、化学、日化等实验室，为客户提供表面分 析、性能测试、可靠性和失效分析、环保和化学测试等分析测试服务的能力。主要面向战略性新兴产业 和未来产业，提供系统化、定制化、线上线下多维度的一站式综合解决方案，是集概念验证、中小试研 发、检测认证、技术咨询、技贸研究、科技成果转化等为一体的公共技术服务平台。 格隆汇12月8日丨深赛格(000058.SZ)公布，围绕公司整体战略，为实现检验检测认证业务的布局优化， 持续拓展新业务领域和市场，为客户提供更加全面、专业、高效的检验检测认证服务，持续提升市场竞 争力和可持续发展能力，推动检验检测认证业务稳健增长。公司拟以自有资金9,752.40万元购买丽星科 技全资子公司八六三81%的股权。本次交易完成后，八六三将成为公司控股子公司并纳入公司合并报表 范围。 ...

报告称，今年以来全省金融要素供给充裕、保障有力。前三季度，全省新增本外币贷款2.31万亿元，保 持全国第一；制造业贷款、科技型企业贷款、绿色贷款、普惠小微贷款余额分别较年初增长11.1%、 16.2%、22.9%和11%；非金融企业（不含央企）发行债券1.15万亿元。今年截至目前，全省新增境内上 市公司24家、居全国第一，其中23家属于战略性新兴产业；科创板和北交所上市公司数量分别达114 家、54家，均居全国首位。全国私募创投类基金投资江苏企业的在投本金规模超3000亿元，居各省首 位。 本报讯 （记者 陈月飞） 11月26日，省十四届人大常委会第十九次会议听取了省政府《关于全省金融工 作情况的报告》。报告显示，前三季度，全省社会融资规模增量达2.99万亿元、居全国第一，法人金融 机构总资产超15万亿元，全省银行业不良贷款率0.82%、处于全国较低水平，金融业有力支撑江苏扛起 经济大省挑大梁的责任担当。 地方金融改革向新而行、亮点颇多。通过组建省国金投资集团和江苏农商联合银行，我省国有金融资本 布局进一步优化；通过设立华东地区首家信用增进公司，大力支持中小科创企业债券融资。省战略性新 兴产业基金集群加快发展 ...

Group 1 - The market continues to rise with major stock indices increasing, particularly the Sci-Tech 50 Index which rose over 2% [1] - The Sci-Tech 50 Index ETF (588870) has seen a year-to-date share increase of 169.80%, leading its peers significantly [1] - Key stocks in the Sci-Tech 50 Index include Baiwei Storage, which rose over 9%, and Cambrian, which rose over 5% [1] Group 2 - Xiangcai Securities indicates that adjustments to insurance company risk factors could increase stock investment scale by approximately 150 billion, boosting the equity market insurance inflow to about 2.15 trillion by 2026 [2] - The electronic sector, the largest in the Sci-Tech 50 Index, is experiencing increased demand due to rising storage prices driven by major manufacturers like SanDisk and Micron [2] - The AI data center construction and deepening AI applications are significantly driving storage demand, with expectations for a continued upward cycle in storage prices through 2026 [2] Group 3 - The Sci-Tech 50 Index ETF (588870) tracks the top 50 stocks on the Sci-Tech board, covering sectors such as electronics, pharmaceuticals, and machinery [3] - The management fee for the Sci-Tech 50 Index ETF is as low as 0.15%, with a custody fee of 0.05%, making it the lowest in the market [3] Group 4 - Recent policy adjustments have lowered the risk factor for insurance companies holding Sci-Tech board stocks for over two years, encouraging more capital flow into strategic emerging industries [4]

Core Insights - The private equity fund industry in China has reached a record management scale of 22.05 trillion yuan, with a month-on-month increase of 1.31 trillion yuan as of the end of October [1] - The growth in private equity funds is driven by the recovery of existing fund net values rather than new product launches, indicating a solid foundation for the industry [1][2] - The dual drivers of private securities and private equity funds enhance the industry's ability to withstand risks and meet diverse asset allocation needs of investors [1] Fund Management and Scale - As of the end of October, there are 19,367 registered private fund managers managing 137,905 funds, with a total management scale of 22.05 trillion yuan [1] - The private securities investment fund's scale has surpassed 7 trillion yuan for the first time, with new filings in October reaching 429.2 billion yuan, accounting for over 60% of all new filings [1] - The private equity and venture capital funds have respective scales of 11.18 trillion yuan and 3.56 trillion yuan, with month-on-month growth rates of 1.8% and 2.3% [3] Market Dynamics - The recovery of the secondary market and the release of profit-making effects are significant engines for growth, with the A-share market's upward trend boosting the net value of private equity products [2] - Increased investor risk appetite and favorable policies, such as long-term stock investment trials for insurance funds, contribute to the steady expansion of private fund scales [2] Regulatory Environment - The tightening of regulations, including the cleanup of shell private funds and the introduction of new supervisory guidelines, is accelerating the industry's process of elimination [4] - The average management scale of existing fund managers is expanding, indicating a rational selection of large, compliant institutions over smaller ones [4] - The trend of "quality over quantity" reflects a transformation in development logic, promoting a healthier market ecology and enhancing resource allocation efficiency [4] Future Outlook - The main line of development for private equity funds is expected to be regulated and professional internal growth, leading to a more transparent and competitive asset management ecosystem [4]

Core Insights - The report highlights that Jiangsu province has achieved significant financial growth, with a social financing scale increase of 2.99 trillion yuan, ranking first in the nation [1] - The province's banking sector maintains a low non-performing loan ratio of 0.82%, indicating a stable financial environment [1] Financial Performance - In the first three quarters, Jiangsu's new loans in both domestic and foreign currencies reached 2.31 trillion yuan, also the highest in the country [1] - Loans to the manufacturing sector, technology enterprises, green projects, and small and micro enterprises have seen year-to-date growth rates of 11.1%, 16.2%, 22.9%, and 11% respectively [1] - Non-financial enterprises (excluding state-owned enterprises) issued bonds totaling 1.15 trillion yuan [1] - The province has seen the establishment of 24 new domestic listed companies, leading the nation, with 23 of these in strategic emerging industries [1] Financial Institutions and Services - Jiangsu has 187 legal financial institutions and over 1,500 various local financial organizations [2] - The province is set to have 13 banks listed in the top 1,000 global banks by 2025, leading the country [2] - The government financing guarantee system has been enhanced, with a recorded scale of 137.3 billion yuan in the national financing guarantee fund, maintaining the top position nationally [2] - The provincial comprehensive financial service platform has assisted 74,000 enterprises in obtaining credit worth 447.9 billion yuan [2] Financial Reforms and Innovations - The establishment of the Jiangsu National Financial Investment Group and Jiangsu Rural Commercial Bank has optimized the layout of state-owned financial capital [2] - The province has initiated the first credit enhancement company in East China to support bond financing for small and medium-sized technology enterprises [2] - The strategic emerging industry fund cluster has accelerated development, with a total scale exceeding 100 billion yuan [2] - Jiangsu has been approved to conduct a national-level pilot for a comprehensive intellectual property financial ecosystem [2] Risk Management and Consumer Protection - Jiangsu has implemented policies to optimize the financial ecosystem and promote the creation of financial ecological counties [3] - The province has established 111 financial dispute mediation service points to enhance consumer rights protection [3] - Efforts to strengthen financial support for local debt risk resolution and assist private enterprises in financial distress have been emphasized [3] - A reward mechanism for reporting illegal fundraising activities has been introduced to maintain a strict crackdown on illegal financial activities [3]

多地加速发行 ● 本报记者熊彦莎 近期，多地发行专项债投向政府投资基金。专家认为，临近年末，将专项债资金投入政府投资基金，是 优化中期财政规划的体现，有助于服务重大发展战略，支持战略性新兴产业发展和科技创新，为经济增 长培育新动能。 从投向来看，各地政府投资基金均结合区域产业特色明确了重点投向。例如，深圳市政府投资引导基金 聚焦深圳"20+8"产业集群及未来产业。西安市政府创新投资基金投向本地优势产业，包括电子信息、航 空航天、光电芯片等。 在投向精准对接产业需求的基础上，专项债资金注入政府投资基金的地域分布同样展现出鲜明的区域差 异化特征。将专项债资金用于政府投资基金的地方多位于东部地区，其中广东、浙江、上海、北京披露 的规模均达到100亿元。刘英介绍，以北上广深为代表的东部地区更加侧重科技创新和战略性新兴产 业，安徽、湖北等中部地区侧重产业转型跟区域协同，陕西等西部地区则聚焦在特色产业和创新生态培 育。 在发行期限方面，注资政府投资基金的专项债发行期限普遍在10年至30年。白彦锋表示："专项债资金 期限较长、资金规模较大，匹配长期股权投资需求。高科技产业竞争激烈、上下游产业链长、资金规模 大、投资风险大， ...