Core Insights - The South Korean stock market experienced a historic revival in 2025, with the KOSPI index rising by 76%, significantly outperforming the S&P 500's 17% and the MSCI Asia Pacific Index's 25% [1][8] - Analysts predict further growth in the Korean stock market, with major firms like Citigroup, JPMorgan, and Nomura forecasting at least a 20% increase in 2026, supported by strong earnings growth [1][8] Sector Performance - **Artificial Intelligence Shadow Stocks**: Companies like Hyosung Heavy Industries and Doosan Enerbility saw stock prices surge over 320% due to the increasing demand for power from AI data centers, despite high valuations [3][10] - **Storage Chip Sector**: Samsung Electronics and SK Hynix had remarkable performances, with stock prices increasing by 125% and approximately 270% respectively, driven by a surge in demand for high-performance chips [4][11] - **Defense Sector**: South Korean defense companies gained traction due to increased defense spending in Europe and Asia, with Hanwha Aerospace's stock rising nearly 200% and Hanwha Ocean's by 204% [4][11] - **K-Beauty Sector**: APR Group, a beauty company, saw its stock price soar by 362%, surpassing major competitors like Amorepacific and LG Household & Health Care [5][12] Underperforming Sectors - **Gaming Industry**: Game developers like Crafton and Netmarble faced significant declines, with Crafton's market value shrinking by about 20% and Netmarble's stock dropping over 30% due to limited market appeal in Asia [7][13] - **Electric Vehicle Supply Chain**: The EV sector struggled, with companies like Enchem experiencing a stock drop of approximately 50%, exacerbated by a shrinking demand for electric vehicles and technological gaps with Chinese competitors [7][14]

证券日报网讯 12月30日，联美控股（600167）在互动平台回答投资者提问时表示，公司清洁供热业务 具备区域性深耕发展的业务特性，未来将紧跟国家碳中和的整体战略，将立足以科技创新为动力的综合 能源服务商的总体定位，稳步做大做强清洁供热业务，采取内生式增长与外延式拓展相结合方式，在多 能互补、需供互动、智慧运营等方面进一步发挥独特的优势，围绕区域集中供暖、北方城市分布式冷热 服务、南方城市分布式制冷、大型企业及园区综合能源服务等核心业务提供综合能源解决方案、智慧运 营和管理服务。同时，利用公司在环保供热、清洁能源方面的核心技术以及优势的管理整合能力，完善 并输出联美控股的智慧化运营整体方案，积极探索综合能源领域，并布局工业节能技术、储能产业链等 业务，在持续做大做强公司业务的基础上，创造更大的经济和社会效益。 ...

Core Insights - The article emphasizes the importance of the "14th Five-Year Plan" completion and the strategic layout of the "15th Five-Year Plan" as key topics for enterprises aiming for high-quality development in the context of a shifting global economic landscape and accelerated technological innovation [1]. Group 1: Comprehensive Analysis - The report by QYResearch provides a thorough analysis of the market environment, competitive landscape, technological pathways, and policy directions that enterprises may face during the "15th Five-Year Plan" period [3]. - It covers supply and demand dynamics, regional development comparisons, industry chain structures, leading enterprise trends, and growth analysis of specific products and application scenarios, integrating the outcomes of the "14th Five-Year Plan" with expectations for the "15th Five-Year Plan" [3]. - The report emphasizes the need for data-driven decision-making as a compass in an uncertain era, focusing not only on scale growth but also on structural changes, technological breakthroughs, and market barriers [3]. Group 2: Competitive Strategies - The report analyzes the development models, capacity layouts, product strategies, and revenue structures of global industry benchmark enterprises, providing quantifiable comparisons and case studies for enterprises to reference in their growth paths and differentiated competitive strategies [4]. - In a highly homogeneous competitive environment, benchmarking and learning from others is portrayed as a necessity for survival rather than an option [5]. Group 3: Regional and Policy Insights - During the "15th Five-Year Plan" period, the Asia-Pacific region, particularly the Chinese market, is expected to remain a core engine for global growth, with China's share of global capacity in several strategic emerging industries continuing to rise [6]. - The report highlights the need for enterprises to optimize regional layouts and respond to policy directions, embedding national strategies into their operations, particularly in relation to major topics such as the "Belt and Road Initiative," "carbon neutrality," and "digital economy" [6]. Group 4: Partnership and Support - QYResearch positions itself not just as a research provider but as a strategic partner for enterprises, emphasizing its commitment to data-driven decision-making and providing insights, pathways, and confidence for clients [7]. - The report is described as a starting point for collaboration between QYResearch and enterprises in preparation for the "15th Five-Year Plan" [7].

中新社厦门12月30日电 (林永传 潘静洋)30日，福建厦门卓越生物质能源有限公司生产车间内，自动化 灌装设备全速运转，工人们正对205吨生物柴油进行最后检查和封装。该批产品在接受厦门海关现场监 管、检验合格后，将集结港口，发往"一带一路"共建国家。 生物柴油作为兼具环保属性与实用价值的可再生能源，具有低排放、可循环的核心优势。在全球碳中和 目标引领与国际能源市场波动环境下，各国对生物柴油的绿色替代需求愈发强烈，市场前景广阔。 据厦门海关统计，今年前11个月，福建生物柴油出口21.9亿元(人民币，下同)，出口规模居中国第一。 其中，出口"一带一路"共建国家5.1亿元，同比增长6.2倍，占比23.3%。 厦门海关相关人员介绍，外商投资企业是福建生物柴油出口主力军，前11个月共出口14.9亿元，占比 68.0%。 为助力生物柴油高效出海，让绿色能源布局向海外拓展，厦门海关优化监管流程，设立生物柴油出 口"绿色通道"，实行预约查验、优先放行机制，大幅压缩通关时间；同时依托智慧监管手段，运用信息 化系统实现申报、审核、查验全流程高效衔接，为福建生物柴油稳定出口、抢抓国际市场机遇提供坚实 支撑。(完) ...

2025 年 12 月 30 日 总量研究 国防军工主题基金净值显著上涨，大盘宽基 ETF 资金大幅净流入 ——基金市场与 ESG 产品周报 20251230 要点 市场表现综述：大类资产方面，本周（下文如无特殊说明，本周均指代 2025.12.22-2025.12.26）权益市场指数集体上涨，中证 500 上涨 4.03%。 行业方面，本周有色金属、国防军工、电力设备行业涨幅居前，美容护理、 社会服务、银行行业跌幅居前。基金市场方面，本周各类基金净值均呈现上 涨，股混基金表现占优。 基金产品发行情况：本周国内市场新成立基金 65 只，合计发行份额为 278.94 亿份。其中债券型基金 19 只、股票型基金 18 只、混合型基金 18 只、FOF 基金 6 只、REITs1 只、货币市场型基金 3 只。全市场新发行基金 23 只，从类型来看，混合型基金 8 只、股票型基金 8 只、债券型基金 5 只、FOF 基金 1 只、REITs1 只。 基金产品表现跟踪：长期行业主题基金指数表现来看，本周国防军工主题基 金净值显著上涨，医药、消费主题基金净值回调。截至 2025 年 12 月 26 日，国防军工、新能源、 ...

本文源自：财华网 【财华社讯】中国碳中和(01372.HK)公布，集团100%持股附属公司Global Carbon Asset Management Co., Limited通过新加坡持牌的数字资产交易平台DigiFT，以经核证碳标准(VCS;)核证的50万吨碳信用为底层 资产。合规托管、发行、分发共5亿枚碳币(Carbon Coins;)。该发行依托DigiFT受监管的真实世界资产 (Real-World Asset;，简称RWA;)代币化及交易基础设施，实现碳信用资产的链上化及合规转让。这是全 球首单基于国际权威碳标准的合规碳币，也是首次以VCS碳信用作为底层资产在境外受监管的链上交易 所发行的通证。 ...

本次发行是新奥能源盘活绿色能源资产、拓宽融资渠道、优化融资结构的重要举措，亦将为公司泛能业 务的可持续发展提供有力支撑。底层资产涵盖七家子公司的分布式光伏发电项目及配套储能电站，通过 以项目公司股权为基础开展资产证券化，公司有效实现了资产盘活与融资结构优化。 本次类REITs以中信建投证券作为储架及首期产品的计划管理人及牵头主承，以华泰资管为储架的联席 管理人，首期产品获得了大型国有银行、头部股份制银行及基金公司等机构的积极认购。展望未来，新 奥能源将持续深化与金融机构的合作，充分利用储架发行机制，稳步推进后续各期发行，积极助力国 家"双碳"战略目标的实现，致力于成为"推动技术创新变革、引领绿色低碳实践、赋能行业智能化发 展、缔造安全品质服务典范"的先行企业。 （2025年12月30日，香港）新奥能源控股有限公司（以下简称"新奥能源"）近日在深圳证券交易所成功 发行"新奥泛能1期碳中和绿色资产支持专项计划"。本期发行规模为6.08亿元，优先级资产支持证券票 面利率2.60%，获得最高"AAA"级信用评级，体现了市场对产品投资价值的高度认可。 本期专项计划属于"新奥泛能1-8期碳中和绿色资产支持专项计划"储架产 ...

Group 1: Long-term Strategy - China's political economy relies on "long-termism," emphasizing historical patience and strategic stability amid global changes[5] - The "Five-Year Plan" exemplifies China's long-term strategy, focusing on continuity and gradual execution rather than disruption[5] - China's understanding of time spans centuries, supporting the value of its assets through long-term goals[5] Group 2: Policy Continuity - The continuity of goals ensures that strategic intentions are realized, with each Five-Year Plan building on the previous one[9] - The "14th Five-Year Plan" and "15th Five-Year Plan" are interconnected, leading towards the centenary goals of building a prosperous socialist modern state[9] - China's commitment to carbon neutrality by 2060 illustrates its steadfast approach to long-term objectives, contrasting with the policy fluctuations seen in Western countries[10] Group 3: Incremental Capability Development - China's governance evolves through iterative upgrades, with policies adapting to current challenges while maintaining overarching themes[12] - The "Made in China 2025" strategy employs a phased approach, aiming for significant advancements by 2025, 2035, and 2049[13] - Infrastructure investments in key regions, such as the "Belt and Road Initiative," reflect a long-term vision for regional connectivity and economic growth[21] Group 4: Social Cohesion and Action - The realization of long-term economic goals depends on collective action across society, facilitated by clear roadmaps and accountability mechanisms[27] - The "14th Five-Year Plan" includes a comprehensive responsibility system to ensure effective implementation and monitoring of goals[27] - Cultural values, such as the promotion of socialist core values, underpin the social cohesion necessary for achieving long-term objectives[27] Group 5: Investment Themes - Long-termism translates into investment themes, including cultural confidence, strategic industries, and energy security[30] - The focus on local cultural heritage and strategic sectors is expected to continue evolving, reflecting China's unique economic landscape[30] - The stability of China's macro policies is increasingly recognized as a comparative advantage by global investors[30]

Group 1 - The electric heater industry is defined as entities that convert electrical energy into thermal energy, consisting of electric heating elements combined with control units and other components [4] - The development of electric heating elements is closely linked to the electric heater industry, which has evolved through four stages: nascent, growth, popularization, and maturity [5] - The upstream of the electric heating element industry includes raw materials such as hardware, stainless steel strips, electrical components, and magnesium oxide powder, while the downstream encompasses sectors like household appliances, commercial appliances, and industrial equipment [6] Group 2 - The global electric heating element market has seen revenue growth from $8.164 billion in 2017 to $10.452 billion in 2024, with a compound annual growth rate (CAGR) of 3.6% [9] - China's electric heating element market is projected to grow from $3.130 billion in 2017 to $4.294 billion in 2024, with a CAGR of 4.6% [11] - The air source heat pump, which accounts for approximately 90% of the heat pump market, is expected to reach a market size of about $31.53 billion in China by 2024, with a CAGR of approximately 15.75% from 2021 to 2024 [8] Group 3 - Market share proof is essential for enterprises applying for titles such as "single champion," "specialized and innovative," and "small giant," requiring comprehensive data, clear logic, reliable sources, and professional calculation methods [13] - The value of market share proof lies in its direct impact on the weight of enterprises in applications, enhancing competitiveness and ensuring the accuracy and effectiveness of market share claims [13]

关于 举办 《分布式能源规划员》（综合能源服务方向）培训通知 各企事业单位： 《中华人民共和国能源法》 提出，鼓励发展分布式能源和多能互补、多能联供综合能源 服务，提高终端消费清洁化、高效化、智能化水平。多能联供综合能源服务 成为现代能 源产业发展的重要方向和实现碳中和的重要路径。 电力、冷热、用户之间的关系变得越来越紧密，打破不同能源品种单独规划、设计、运行 的传统模式，实现横向 "电热冷气水"能源多品种之间、纵向"源网荷储用"能源多供应环 节之间的协同，以及生产侧和消费侧的互动 ,正成为行业趋势。 目前，在我国熟悉用户用能特性，掌握能源规划、转化、智能控制等技术，并具备能效 碳排放 评估，通晓末端节能 减碳 、投资、建设、运营等跨 学科专 业 应用 人才匮乏， 严重影响各能源企业向综合能源服务转型和发展的进程。为此，中国能源报社 特 开 展 《分布式能源规划员》（综合能源服务方向）培训 ,参加培训并经考核合格者，由人力资 源和社会保障部 社会保障能力建设 中 心 颁 发 《 分 布 式 能 源 规 划员 》 （综 合 能 源 服 务 方 向）培训证书。 一、培训 形式 及时间 培训 地点 : 线上 培训 ...