记者近日从"'深化六个改革'创新推进中国式现代化西安实践"系列新闻发布会上获悉：西安市将积 极推进体制改革和城市更新，不断提高城市管理的科学化、精细化、智慧化、法治化水平。 坚持改革统领。西安市将推行城市道路一体化运维新模式，进一步厘清市、区管理范围和权责，优 化城市道路和临街空间管理；发布《城市古树名木养护技术规范》等4项地方标准，完成《城市桥梁养 护作业技术规程》等5项地方标准的编制。 坚持项目带动。西安市将实施燃气供热安全能力提升、市政设施更新改造、城市绿地提质美化等行 动，完善城市综合服务功能。今年，西安市计划完成542公里老化燃气管道、27公里市政供热管网等的 更新改造，实施一批病害桥梁维修项目，建设改造口袋公园或儿童友好型公园20座以上。 坚持精细治理。西安市将继续优化提升市容环境秩序，重点整治地铁口、景区的非机动车辆乱停 放、占道经营乱象，新增人行道非机动车停放区域1000个以上；规范垃圾全过程管理，年底前将厨余垃 圾分出量提高至每日1300吨，坚决打击建筑垃圾乱排乱倒。 坚持底线思维。西安市将巩固燃气安全整治成果，推动燃气安全向事前预防转型转变；抓好市政设 施安全管理，持续排查治理城市道路桥梁 ...

Core Insights - The closure of credit card branches by national commercial banks indicates a shift from extensive expansion to refined operations in the industry [1][2][3] - The trend of closing credit card centers is driven by risk control and cost optimization considerations, particularly in regions with economic slowdown and population outflow [2][3] - The transition to localized management of credit card operations is a strategic response to changing market dynamics and aims to enhance operational efficiency [4][5] Summary by Sections Industry Trends - Since April, national commercial banks have accelerated the closure of credit card branches, with notable closures by Bank of Communications, China Minsheng Bank, and Guangfa Bank [1][2] - A total of 28 credit card branches have been closed by these banks since 2025, with a focus on regions like Northeast and North China [2][3] Strategic Shifts - The shift from centralized management to localized operations is highlighted as a core strategy for 2024, allowing banks to leverage local resources and improve service efficiency [4][5] - The closure of redundant branches is seen as a necessary step to optimize resource allocation amid declining card issuance and consumption [3][5] Future Outlook - Experts suggest that banks should focus on digital transformation, risk management, and differentiated product offerings to adapt to the evolving market [6][7] - The move towards online credit card services is viewed as an inevitable trend, driven by the dominance of online scenarios and the advantages of lower costs [7]

地方政府债与城投行业监测周报 2022 年第 9 期 隐性债务监管高压态势不变强调防范"处置风险的风险" 专题研究 2025 年 1 月 1 日—3 月 3 1 日 2025 年第 1 期 高收益债研究 高息资产稀缺性凸显， 聚焦风险收益平衡精细化择券 ——高收益债 2025 年一季度回顾及下阶段展望 本期要点 ◼ 策略及展望 作 者： 中诚信国际 研究院 | 卢菱歌 lglu@ccxi.com.cn | | --- | | 郝云龙 ylhao@ccxi.com.cn | | 王 晨 chwang01@ccxi.com.cn | | 谭 畅 chtan@ccxi.com.cn | 中诚信国际研究院 院长 袁海霞 hxyuan@ccxi.com.cn 【高收益债 2024 年回顾及下阶段展望】市 场规模收缩分化趋势明显，结构性机会尚 有可为，2025-1-22 【高收益债 2024 年三季度回顾及下阶段展 望】市场规模收缩且行且珍惜，关注新一 轮政策投资机遇，2024-10-20 【高收益债 2024 年半年度回顾及下阶段展 望】高收益债延续缩量，优选主体拉久期 下沉品种，2024-7-23 【2024 年上半 ...

Core Viewpoint - In 2024, Guangdong Green Precision Components Co., Ltd. achieved significant growth in revenue and net profit, but faced a substantial decline in cash flow from operating activities, indicating potential liquidity challenges ahead [1][8]. Revenue Growth and Market Expansion - The company reported a revenue of 1.22 billion yuan, an increase of 8.63% from the previous year [2]. - The computer, communication, and other electronic equipment manufacturing sector contributed 1.21 billion yuan, accounting for 99.48% of total revenue, with a year-on-year growth of 8.87% [2]. - Precision structural components generated 1.13 billion yuan, representing 92.75% of total revenue and a growth of 10.19%, indicating improved market competitiveness [2]. - Domestic sales reached 516.49 million yuan, a significant increase of 76.49%, while overseas sales were 704.06 million yuan, down 15.27% [2]. Profitability Improvement - The net profit attributable to shareholders was 53.02 million yuan, a remarkable increase of 308.51% compared to 12.98 million yuan in 2023 [3]. - The net profit excluding non-recurring items was 54.03 million yuan, up 461.43% from the previous year [3]. - The profit surge was attributed to market expansion, product structure optimization, and effective cost management, alongside favorable currency exchange rates [3]. Expense Management - Sales expenses decreased by 16.87% to 14.99 million yuan, reflecting effective cost control [4]. - Management expenses fell by 3.80% to 74.34 million yuan, due to reduced office costs and depreciation [4]. - Financial expenses were negative at -63.13 million yuan, indicating high interest income [4]. - R&D expenses decreased by 16.88% to 88.17 million yuan, raising concerns about future innovation capabilities in a competitive market [4]. Cash Flow Analysis - Operating cash flow net amount was 73.23 million yuan, a significant drop of 78.97% from 348.25 million yuan in the previous year, indicating weakened cash collection ability [5]. - Investment cash flow net amount improved by 21.03% to -161.05 million yuan, showing better control over capital expenditures [5]. - Financing cash flow net amount improved by 73.68% to -23.05 million yuan, primarily due to reduced dividend distributions [5]. Management and Governance - The management compensation for key executives was deemed reasonable in relation to company performance [8]. - The company has established a solid governance structure but needs to enhance its governance practices to adapt to market changes and improve decision-making efficiency [8].

Overview - The new regulation from Dongguan's Housing and Urban-Rural Development Bureau categorizes 34 towns into four price tiers, impacting developers' land value tax and potentially affecting homebuyers' interests [1] Group 1: New Regulation Details - The new price standards classify towns into four tiers: - Tier 1 (6 towns): Price standard at 38,996 yuan/sqm, a 300 yuan increase from last year [1] - Tier 2 (6 towns): Price standard at 31,900 yuan/sqm, a 4,000 yuan decrease, but offset by town upgrades [1] - Tier 3 (13 towns): Price standard at 24,073 yuan/sqm, with an actual increase due to town level upgrades [1] - Tier 4 (9 towns): Price standard at 18,048 yuan/sqm, a 1,500 yuan decrease, potentially easing developers' tax burden [1] Group 2: Underlying Logic of Adjustments - The adjustments aim to achieve three main objectives: - Control housing prices in popular areas, with only a slight increase in Tier 1 areas to prevent further price hikes [2] - Reduce tax burdens for developers in lower-priced areas, encouraging promotional activities [2] - Foster competition among towns for upgrades, enhancing regional value [2] Group 3: Impact on Homebuyers - The new regulation does not affect personal mortgage rates, deed taxes, or housing provident fund policies, as it only pertains to developers' land value tax [3] - New homes in some areas may see price reductions due to developers' lower tax burdens, with potential discounts of 800-1,200 yuan/sqm being considered [5] - The mindset of homeowners in the secondary market is polarized, with Tier 1 homeowners raising prices and Tier 4 homeowners uncertain about selling [6] Group 4: Future Prospects - Three groups stand to benefit from the new regulation: - Buyers in Tier 1 areas looking for improved housing options, as the new standards may encourage purchases [6] - First-time buyers in Tier 4 areas, where developers are already announcing price cuts [6] - Investors from other towns, particularly those targeting areas that have upgraded in classification, seeing potential for growth [7]

针对已建成的城市道路，需积极推动机制创新，严格压实主管部门的监管责任。充分运用数字化、信息 化手段，促进相关部门之间的信息互通与资源共享，统筹规划道路施工工期，推动同一条道路的多个管 线项目实现"一次开挖、集中施工"。对于新改扩建的城市道路，更应在规划阶段就综合考虑各类管线的 铺设需求，合理规划布局，因地制宜建设地下管廊，构建层级清晰的地下管廊网络体系，实现地下空间 资源的集约利用与有序开发，从而避免因后续管线随意布置而导致道路被重复性开挖。 与此同时，必须严把工程质量关，确保工程建设质量达标。还要加强日常管理与维护工作，以此提升相 关设施设备的使用寿命，减少因设施故障抢修而开挖道路的频率。此外，需强化制度约束，严格杜绝随 意开挖道路的行为，为遏制城市道路"任性挖"戴上金箍。 前脚刚埋好，后脚又开挖。笔者经常经过的一条马路，两年内先后被燃气、供水、通信等部门多次开 挖，长期处于"缝缝补补"的状态，人们形象地将其称为"拉链马路"。 "拉链马路"一直是群众关注的话题。虽然相关施工手续完备，且旨在改善沿线群众生活，但频繁开挖回 填不仅破坏市容市貌，给居民工作生活造成极大不便，还存在安全隐患，造成人力、物力、财力的严 ...

证券代码：300146 证券简称：汤臣倍健 汤臣倍健股份有限公司 | | 运营和投放策略，通过产品创新打造高价格带产品，搭建自主可控直播间对 | | --- | --- | | | 品牌心智进行沉淀，增加商品卡的销售和合理比例的达播合作提升公司在 | | | 抖音平台的销售规模。货架电商则会通过运营提效、增加专供品加大产品区 | | | 隔等方面助力销售。 | | | Q：2025 年全年费用指引，费用投放是否集中在下半年 | | | 公司遵循全费用/全费比动态管控原则，注重费用投产比，确保预算与 | | | 收入动态匹配。在今年既定预算目标相对谨慎稳定的整体基调下，公司将进 | | | 一步提升精细化管理能力，通过月度预算管控和销售复盘，根据实际情况动 | | | 态优化资源分配，确保费用投放的合理性。 | | | Q：蛋白粉、健力多迭代情况 | | | 两个大单品的迭代工作在去年年底基本结束，但消费环境和行业处于 | | | 持续变化中，新产品的销售暂时未达到公司预期，还需要继续关注。 | | | Q：药店渠道医保政策实施力度及持续影响 | | | 目前来看医保管理趋严已成常态化。行业层面，从人均消费额、 ...

导 语：泸州老窖确定的2025年目标并不算高，仅为维持正增长。 "高调"停货的背后 在2024年财报发布的三天前，也是国窖1573高度酒跌到840元之际，泸州老窖（000568.SZ）开始全 品系停货。 在每年最大的消费旺季——春节前压一波库存、完成公司业绩增长的目标之后，酒企往往于淡季停 止发货。停货的目的，消化积压库存的同时稳定价格体系，这属于业内常规操作模式。 停货之前，无论是3个月左右的渠道库存还是今年一季度的发货量，均已维持在不算低的水位。因 此在4月底发出停货指令，也是应有之义，本身并不值得过度关注。 但"宣告"停货的动作，可以看作是一种渠道精细化管理的手段。 泸州老窖董事长刘淼与总经理林峰，是泸州老窖的核心人物。二人均是出身销售一线的营销高手， 都出任过老窖销售公司总经理，其中林峰还担任过泸州老窖营销总监。 多年来，二人搭班联合主政泸州老窖的销售体系，帮助泸州老窖在2016年-2021年行业景气周期中超额 增长。当然，他们也在这一轮行业下行周期中，承受着保业绩增长的巨大压力。 | | 国窖系列 | | | --- | --- | --- | | 昌名 | 散瓶行情 | 涨跌 | | 52度国容1 ...

证券研究报告·公司点评报告·专用设备 灵鸽科技（833284） 2024 年报&2025 一季报点评：24 年盈利承 压，25 年锂电需求有望回升 增持（维持） | [Table_EPS] 盈利预测与估值 | 2023A | 2024A | 2025E | 2026E | 2027E | | --- | --- | --- | --- | --- | --- | | 营业总收入（百万元） | 265.00 | 211.20 | 290.84 | 371.36 | 459.93 | | 同比（%） | (18.38) | (20.30) | 37.71 | 27.69 | 23.85 | | 归母净利润（百万元） | 17.17 | (43.57) | 24.83 | 33.51 | 43.51 | | 同比（%） | (61.16) | (353.81) | 156.99 | 34.96 | 29.84 | | EPS-最新摊薄（元/股） | 0.16 | (0.42) | 0.24 | 0.32 | 0.42 | | P/E（现价&最新摊薄） | 130.32 | (51.35) | 90.10 | 66. ...

新京报讯(记者叶红梅)4月27日，记者从北京市医保局获悉，北京将对定点医药机构相关人员实行医保 支付资格管理，采取"驾照式记分"。 《实施细则》明确，对违法或违反医保服务协议的相关人员，在对定点医药机构作出行政处罚或协议处 理的基础上，根据行为性质和负有的责任程度等认定相关人员责任并记分。年度记分达到9分，未达12 分的，暂停医保支付资格1-6个月；年度记分累计12分的，终止医保支付资格1年；单次记12分的，终止 医保支付资格3年。 据介绍，医保支付资格管理制度的建立是医保管理向精细化延伸的标志性成果。对相关人员进行记分管 理，旨在警示教育医务工作者自觉遵守诊疗规范，主动约束手中的"一支笔"，规范诊疗服务、促进行业 自律。医保部门与定点医药机构和医务工作者凝聚共识，在新形势下共建、共治、共享，形成合力，进 一步加强医保基金监管。 近日，北京市医疗保障局发布《关于印发 <北京市定点医药机构相关人员医保支付资格实施细则 试行 ="试行"> 的通知》(以下简称《实施细则》)，对北京市定点医药机构相关人员实行医保支付资格管理。 《实施细则》将监管对象由定点医药机构延伸至医务工作者，从医保支付这一关键环节入手，对涉及医 ...