Company Overview - Chengdu Dahongli Machinery Co., Ltd. is located at 399 Daan Road, Dayi County, Chengdu, Sichuan Province, established on May 10, 2004, and listed on August 24, 2020 [1] - The company's main business involves the research, design, manufacturing, and sales of complete crushing and screening equipment [1] Financial Performance - For the period from January to September 2025, Dahongli achieved operating revenue of 243 million yuan, a year-on-year decrease of 19.50% [2] - The net profit attributable to the parent company was 10.42 million yuan, down 44.69% year-on-year [2] - Since its A-share listing, Dahongli has distributed a total of 40.37 million yuan in dividends, with 11.48 million yuan distributed over the past three years [3] Stock Performance - On November 17, Dahongli's stock price increased by 2.14%, reaching 31.55 yuan per share, with a trading volume of 28.84 million yuan and a turnover rate of 1.66%, resulting in a total market capitalization of 3.019 billion yuan [1] - Year-to-date, Dahongli's stock price has risen by 35.18%, with a recent decline of 1.59% over the last five trading days [1] - The company has appeared on the "Dragon and Tiger List" twice this year, with the most recent appearance on July 23, where it recorded a net buy of -66.0683 million yuan [1] Shareholder Information - As of October 31, Dahongli had 12,000 shareholders, an increase of 4.69% from the previous period, with an average of 4,706 circulating shares per person, a decrease of 4.48% [2] Business Segments - The revenue composition of Dahongli's main business includes: crushing equipment 46.41%, spare parts 26.37%, screening equipment 14.24%, installation and maintenance 10.79%, and others 2.19% [1]

Core Viewpoint - Chongqing Construction's stock has experienced fluctuations, with a recent decline of 2.05% and a year-to-date increase of 27.24%, indicating volatility in market performance [1][2]. Financial Performance - For the period from January to September 2025, Chongqing Construction reported operating revenue of 18.418 billion yuan, a year-on-year decrease of 8.58%, and a net profit attributable to shareholders of -625 million yuan, reflecting a significant decline of 1088.34% [2]. - The company has distributed a total of 600 million yuan in dividends since its A-share listing, with 64.66 million yuan distributed over the past three years [3]. Stock Market Activity - As of November 17, the stock price was 3.83 yuan per share, with a total market capitalization of 7.284 billion yuan. The trading volume was 115 million yuan, with a turnover rate of 1.57% [1]. - The stock has appeared on the "Dragon and Tiger List" six times this year, with the most recent net purchase of 25.77 million yuan on November 10 [1]. Shareholder Information - As of November 10, the number of shareholders increased by 25.45% to 59,600, while the average circulating shares per person decreased by 20.29% to 31,884 shares [2]. - Hong Kong Central Clearing Limited is the seventh largest circulating shareholder, holding 5.2625 million shares, an increase of 1.6774 million shares from the previous period [3].

Core Insights - China's urbanization is transitioning from rapid growth to stable development, with a focus on improving quality and efficiency rather than merely expanding size [1][7][20] Urbanization Achievements - Over the past 46 years, China's urbanization rate has increased from 17.9% to 67%, with the urban population rising from 172 million to 940 million [1] - During the "14th Five-Year Plan" period, the urbanization rate is projected to rise from 63.9% in 2020 to 67% by 2024, with over 170 million rural residents moving to urban areas [4] Economic Transition - The focus of China's economic development is shifting from supply-side to demand-side strategies, particularly during the "15th Five-Year Plan" period, to address insufficient demand [2][3] - New urbanization is seen as a crucial driver for economic growth, aiming to enhance domestic demand and stabilize GDP growth [3] Quality of Urbanization - The "15th Five-Year Plan" emphasizes the need to balance speed and quality in urbanization, with an expected urbanization growth rate of around 0.7 percentage points [7] - Key tasks include promoting the urbanization of agricultural migrants and ensuring equal access to public services [7][12] Urban Structure and Coordination - The development of urban clusters and metropolitan areas is essential for enhancing economic growth and regional coordination [8][12] - There is a need to address the "polarization" issue, where large cities attract resources at the expense of smaller cities [12][14] Rural Integration - The integration of urban and rural areas is a strategic priority, with a focus on promoting rural revitalization and ensuring a balanced flow of resources [15][16] - Recent trends show a shift towards local labor migration, with a decrease in the proportion of migrant workers traveling long distances [16][18] Infrastructure and Public Services - Improving infrastructure and public services in rural areas is critical for supporting urbanization and enhancing the quality of life for residents [19] - The government is encouraged to utilize financial tools, such as issuing special bonds for new urbanization, to alleviate local fiscal pressures and support infrastructure development [18][19]

每经记者｜张蕊 每经编辑｜陈星 10月28日，《中共中央关于制定国民经济和社会发展第十五个五年规划的建议》（以下简称《建议》）正式发布。 记者注意到，此次《建议》在投资、消费等领域出现多个新提法。这些新提法背后有怎样的深意？在我国经济迈向"十五五"的关键节点，如何破解消费率 偏低、内需动力不足的深层矛盾？面对复杂严峻的国内外环境，深化改革的突破口究竟在哪里？ 带着这些关乎经济发展全局的核心问题，近日，《每日经济新闻》记者（以下简称NBD）专访了第十四届全国政协委员尹艳林。 尹艳林深耕宏观经济领域多年，曾长期任职于国家发改委和原中央财经领导小组办公室，曾对中国经济体制改革、供需结构调整等议题有着深刻洞察和独 到见解。 他直言不讳当前面临的一些问题背后是深层次的体制问题，坦言当前改革进入深水区的特征更加明显。他对扩大内需、全国统一大市场等领域的问题，都 提出了具体的改革方向和建议。 新型城镇化仍然是经济增长的重要引擎 NBD：《建议》在"十五五"时期经济社会发展的主要目标中提出，全要素生产率稳步提升，居民消费率明显提高，内需拉动经济增长主动力作用持续增 强。这对今后几年的经济发展会产生哪些影响？ 尹艳林：全要素生 ...

每经记者｜淡忠奎 每经编辑｜杨欢 中国的城镇化，正在悄然换挡。 过去的46年间，中国城镇化率从17.9%迅速提高到67%，城镇常住人口从1.72亿人增加到9.4亿人。在城镇化取得巨大成就的同时，也积累了一些矛盾和问 题。 比如，中小城市在基础设施、公共服务等方面与大城市的差距较大，企业聚集和产业聚集能力薄弱；大城市内部发展不均衡，城市规划与治理的短板限制人 口承载能力进一步提升。 我国城镇化正从快速增长期转向稳定发展期，城市发展正从大规模增量扩张阶段转向存量提质增效为主的阶段——今年中央城市工作会议首次提出"现代化 人民城市"建设目标，也为城镇化的下半场指明航向。 面对即将到来的"十五五"，城镇化如何实现高质量发展？中国城市建设还有哪些新机遇新动能？11月13日，"中国新型城镇化理论·政策·实践论坛2025"在清 华大学召开，胡祖才、范恒山、李稻葵、魏后凯等多位权威学者围绕相关话题展开探讨。 如中国国土经济学会首席专家，国家发改委原副秘书长范恒山所说，城市发展首先要自己过硬，把能量搞足，把品质提升，同时，城市的发展不仅仅为了城 市，"如果仅仅为了城市，我们的城镇化将失去意义，要带动区域，特别是带动农村"。 眼 ...

Core Viewpoint - The article emphasizes the importance of promoting new urbanization as a key strategy to boost domestic demand and economic growth during the "15th Five-Year Plan" period, with a focus on enhancing infrastructure and public services in county-level cities [3][4]. Group 1: New Urbanization Strategy - The core task of the "15th Five-Year Plan" is to enhance domestic demand and stabilize employment and income expectations through new urbanization [3]. - The proposal includes issuing "special bonds for new urbanization" to directly support county-level governments in improving infrastructure and public services [3][4]. Group 2: Financial Mechanisms - It is suggested that the central government should issue additional bonds to replace some local government debt, alleviating financial pressure on local governments [5]. - The article highlights the need for a structured approach to assess and implement key performance indicators (KPIs) related to urbanization and public service improvements, integrating these into local government evaluations [5]. Group 3: County-Level Development - The county level is identified as a crucial link for urban-rural integration and should focus on developing a "shortlist of leading industries" to concentrate resources effectively [5]. - Differentiated policies should be implemented based on the unique characteristics of each county, moving away from the traditional "GDP competition" model to address development contradictions [5]. Group 4: Urbanization Forecast - Predictions indicate that the urbanization rate in China during the "15th Five-Year Plan" period may maintain a growth rate of approximately 0.7 percentage points [5].

Core Viewpoint - The article discusses the transition of China's urbanization from rapid growth to stable development, emphasizing the need to align with the new goals of the "14th Five-Year Plan" and to focus on quality improvement and efficiency in urban development [1][4]. Group 1: Urbanization Development Strategies - The current phase of urbanization should be understood within the context of China's modernization and global changes, aiming to meet the growing needs of the population [1]. - The "14th Five-Year Plan" period should focus on the deep integration of urban areas across seven dimensions: regional, urban-rural, industrial, digital, green, cultural, and safety [1]. - Urbanization is crucial for achieving economic and social development goals, serving as both a primary content and an important support for building a modern socialist society [2]. Group 2: Key Focus Areas for Urbanization - Emphasis on collaborative efforts to optimize urban clusters and metropolitan areas, ensuring infrastructure and public services are interconnected while allowing for distinctive local developments [2][3]. - High-quality urban development should be assessed through three dimensions: development capacity, livability, and safety, with a focus on creating a unique industrial structure and a responsive safety management system [2]. - Promoting rural-urban integration through reforms that facilitate the movement of farmers to cities and the flow of urban resources to rural areas is essential for modernizing agriculture and rural areas [3]. Group 3: Government Role and Challenges - The implementation of new urbanization should stimulate domestic demand by integrating rural populations into the modern economy, with a focus on local government incentives and accountability [3]. - Addressing the debt issues faced by local governments is critical to ensure continued investment in urbanization, household registration reform, and public services [3]. - The predicted urbanization speed during the "14th Five-Year Plan" period is expected to remain around 0.7 percentage points, with a primary focus on improving the quality of urbanization [4].

Core Viewpoint - The core task of the "15th Five-Year Plan" is to enhance domestic demand and promote economic growth, with new urbanization being a key driver for this initiative [1][2] Group 1: New Urbanization and Economic Growth - The proposal includes issuing "special bonds for new urbanization" to directly support county-level infrastructure and public services [1] - New urbanization is seen as crucial for integrating rural populations into the modern economy, thereby increasing overall economic demand [1] - The "15th Five-Year Plan" emphasizes a people-centered approach to urbanization, focusing on county-level development and equalization of basic public services [1] Group 2: Local Government Dynamics - There is a need to motivate local and county governments to enhance public service levels while addressing their existing debt burdens [2] - The suggestion includes using national planning goals broken down into quantifiable KPIs to hold local officials accountable, thereby increasing their engagement and responsibility [2] - The development of counties is viewed as essential for urban-rural integration and should focus on establishing a "shortlist of leading industries" to optimize resource allocation [2] Group 3: Urbanization Trends - The urbanization rate in China is expected to maintain a growth rate of approximately 0.7 percentage points during the "15th Five-Year Plan" period [2]

Group 1 - The core task of the "14th Five-Year Plan" is to enhance domestic demand and promote economic growth, with new urbanization being a key driver for this initiative [1][2] - The proposal includes issuing "special bonds for new urbanization" to support infrastructure and public services in county-level cities, aiming to facilitate the integration of rural populations into modern economic life [1][2] - The plan emphasizes the need for a balanced approach to urbanization, focusing on county-level development and the equalization of basic public services [1][2] Group 2 - Local and county governments face significant debt pressures, which may hinder their investment in urbanization and public services; thus, utilizing national bonds to alleviate this pressure is suggested [2] - The establishment of specific, measurable KPIs for local governments is recommended to enhance accountability and motivate improvements in public service levels [2] - The development of counties is seen as crucial for urban-rural integration, with a focus on identifying and nurturing leading industries within these regions [3] Group 3 - The urbanization rate in China is projected to maintain around 0.7 percentage points during the "14th Five-Year Plan" period, driven by the orderly integration of rural populations into urban settings [3]

论坛期间，与会嘉宾还为《中国都市圈发展报告2024》新书发布揭幕。 本届城镇化论坛以"共谋'十五五'发展，共话城镇化未来"为主题，围绕准确把握"十五五"时期阶段性要 求、引领城镇化高质量发展、探索中国城市建设新机遇新动能展开深入研讨，旨在深入贯彻党的二十届 四中全会精神，系统研判新型城镇化在新时期的功能定位、重点方向与机遇挑战。近200名来自高校、 科研机构、地方政府部门及企业代表参会。 国务院参事、国家发展改革委原副主任胡祖才，中国社会科学院大学教授、国家数据专家咨询委员会主 任、国务院原副秘书长江小涓，中国国土经济学会首席专家、国家发展改革委原副秘书长范恒山，清华 大学中国经济思想与实践研究院院长李稻葵，中国社会科学院学部委员、农村发展研究所原所长魏后凯 分别发表主旨报告。相关科研机构与企业代表以"多方聚力共绘'十五五'蓝图"为主题开展圆桌对话。 本报北京11月14日电（记者于尚波）13日，由清华大学中国新型城镇化研究院、清华大学国家治理与全 球治理研究院主办的"中国新型城镇化理论·政策·实践论坛2025"成功举办。 ...