新华财经上海6月27日电 "共创·共建·共享"一体化数据市场建设大会27日在上海举办。数纽联盟、一体 化数据市场区块链跨链实验室在大会上宣告成立。上海数据交易所在大会上提出培育市场主体、建设核 心功能、提供共性服务的创新举措，发布数据流通制度体系（2025）和一体化数据市场标准体系，首发 数据市场智能体并携手生态伙伴建设智能体市场。 数据交易机构是一体化数据市场建设的重要抓手。上海数据交易所将推动一体化数据市场培育TTP工程 （Ten Thousand Projects），以数据市场主体为核心、以数纽中心NDP（Nexus Data Market Pivot）为抓 手，打造有规模数据资源、有核心能力、有应用示范、有探索创新的四类主体，通过核心功能和共性服 务互联市场，构建一体化数据市场新范式，力争从2025年起，三年内建成1千个以上数纽中心。 上海数据交易所方面表示，未来，数纽联盟将汇聚各方力量，广泛链接并赋能市场主体和生态体系，更 大力度推动数据要素高水平开发利用，持续发掘数据要素价值释放新模式新路径，共同推动全国一体化 数据市场建设。 （文章来源：新华财经） 为更好构建以共创、共建、共享为理念，以市场主体 ...

Core Viewpoint - Zhuhai Kangjin Electric Co., Ltd. is planning to go public in Hong Kong, aiming to leverage its position as a leading provider of integrated power equipment and smart energy management solutions in response to China's shift towards a renewable energy-driven power system [1] Company Overview - Established in 2006, Kangjin Electric focuses on technology-driven integrated power equipment and smart energy management solutions, developing a "source-network-load-storage" integrated platform [1] - The company ranks third in the ring network cabinet sales in China, holding a 4.4% market share according to Frost & Sullivan [1] Business Segments - The company operates in two main segments: smart distribution network equipment and smart renewable energy business solutions [2] - The smart distribution network equipment segment includes ring network cabinets, transformers, low and high voltage complete equipment, pole-mounted switches, and distribution automation terminal equipment [2] - The smart renewable energy business solutions segment encompasses smart energy storage, smart charging systems, and comprehensive energy projects with energy management platforms [2] Financial Performance - Revenue for 2022, 2023, and 2024 is projected to be RMB 638 million, RMB 824 million, and RMB 969 million respectively [2] - Gross profit for the same years is expected to be RMB 186 million, RMB 230 million, and RMB 246 million, with corresponding gross margins of 29.1%, 27.9%, and 25.4%, indicating a declining trend [2] - Net profit for 2022 and 2023 is reported at RMB 517.8 million and RMB 562.5 million, with a significant drop to RMB 383.4 million in 2024, reflecting a decrease of 31.9% [2] Intellectual Property - The company has over 1,400 employees, with approximately 17.1% being R&D and technical engineers [2] - It has obtained 194 intellectual property certificates, including 111 patents in China, 6 trademarks, 73 software copyrights, and 1 patent in the Netherlands [2]

Core Viewpoint - The re-launch of the "Taihu Lansheng" cruise in 2025 marks a significant revival of water tourism in Taihu, showcasing the achievements in ecological governance and indicating a new trend in cultural and tourism integration [1][5] Group 1: Cruise and Tourism Development - The "Taihu Lansheng" cruise integrates transportation and cultural tourism, connecting various tourism resources around Taihu and enhancing cooperation with surrounding cities to promote the "Water Charm Jiangsu" tourism brand [1][2] - The cruise route includes famous scenic spots and islands, allowing tourists to experience the beauty of Taihu, including landmarks like the "Yuantouzhu" and "Shigongshan" [2][3] Group 2: Economic and Cultural Impact - The project effectively integrates traditional scenic resources, tourist attractions, and local culinary experiences, providing a comprehensive cultural and ecological water journey for visitors [3] - The cruise offers diverse entertainment options, including local cuisine and cultural performances, enhancing the overall visitor experience and showcasing the cultural charm of Taihu [3] Group 3: Ecological Governance and Sustainability - Continuous ecological improvement and industrial transformation have laid a solid foundation for the "Taihu Lansheng" cruise, promoting a harmonious coexistence between humans and nature [4] - The average water quality of Taihu has reached Class III for the first time in 30 years, indicating significant progress in ecological governance, which is crucial for sustaining tourism development [4] Group 4: Future Prospects - The "Taihu Lansheng" project embodies the integration of ecological governance and cultural tourism, reflecting the concept that "lucid waters and lush mountains are invaluable assets" [5] - With the deepening of cross-regional cooperation and innovation in ecological value transformation, Taihu is poised to become a world-class ecological and cultural tourism destination [5]

Core Viewpoint - The company is expected to see significant growth in net profit from 2025 to 2027, driven by rising aluminum prices and improved sales performance in electrolytic aluminum and alumina products [1][2]. Financial Projections - Projected net profits for China Hongqiao from 2025 to 2027 are 22.759 billion, 26.169 billion, and 28.969 billion yuan, representing year-on-year growth of 1.73%, 14.98%, and 10.70% respectively [1]. - Earnings per share (EPS) are forecasted to be 2.45, 2.82, and 3.12 yuan per share for the same years, with corresponding price-to-earnings (P/E) ratios of 6.9, 6.0, and 5.4 times [1]. Profit Growth Drivers - The company's net profit for the first half of 2025 is expected to increase by approximately 35% year-on-year, reaching around 12.359 billion yuan, following a net profit of 9.155 billion yuan in 2024 [1][2]. - The increase in profit is attributed to higher sales volumes and prices of electrolytic aluminum and alumina, with the average price of electrolytic aluminum rising by 2.51% to 20,297 yuan per ton [2]. Industry Dynamics - The alumina price has significantly decreased in 2025, dropping from 5,683 yuan per ton at the beginning of the year to 3,175 yuan per ton by June 23, 2025, which may stabilize profits in the alumina segment [3]. - The average profit for alumina in the first half of 2025 is projected to be 302 yuan per ton, a decrease of 430 yuan per ton year-on-year, but the declining trend in alumina prices is expected to slow down [3]. Capacity Expansion - The company is advancing its capacity replacement strategy, with the Yunnan Wenshan project having completed an initial capacity of 1.074 million tons per year and a second phase of 950,000 tons nearing completion [4]. - The Yunnan Honghe project, which began construction in August 2023, is planned to have a capacity of 1.93 million tons per year, with an initial production line expected to be completed by the end of June 2025 [4].

文 | 中关村储能产业技术联盟 6月26日，山西交控新能源发展有限公司 2025-2026年度 储能 设备供应商入库框架协议 入围 候选人公示， 固德威、深圳鸿嘉利、阳光电源、山西城市动力、长园深瑞 入选。 从公示文件来看，参与本次投标的企业中， 天津中电新能源 研究院有限公司、深圳市 科陆电子 科技股份有限公司、 远景能源 有限公司、 上海派能 能源科技股份有限公司、 苏州华储电气 科 技有限公司，由于 法定代表人身份证明未加盖法定代表人电子签名章、 未提供在山西交通控股 集团有限公司电子招投标采购交易平台中"供应商黑名单"栏目查询结果的网页截图、 业绩未附 发票、 审计报告不符合招标文件要求 等原因被否决 。 据了解，该项目主要集中在 山西省境内 ，为 高速公路光储充一体化项目 所需的储能系统设备 供应商入库，包括但不限于货物的供应、运输、装卸、安装指导、培训、检验检测、验收、保 险、税金和售后服务等。 本次招标要求入围 供应商数量5家 ，若合格候选人不足3家时，招标人将重新组织招标；若合格 候选人不少于3家且不足5家时，则全部入围，招标人后续将组织补充入围；若合格候选人大于5 家时根据综合得分由高到低的 ...

2025年6月20日，在2025MWC世界移动通信大会上，全球领先的云通信服务平台 — 途鸽科技(TGT Technology Global)正式发布"全球5G云通信+卫星IoT解决方案"，通过5G云通信与多轨道卫星IoT的深度 协同，首次实现陆、海、空、偏远地区的"无缝连接闭环"，为全球客户提供全天候、高性价比的智能连 接服务。这也标志着途鸽科技从"地面通信"向"空天地一体化"的战略升级。 "地面通信"向"空天地一体化"的战略升级 随着5G、云通信、卫星通信技术的快速发展，全球数字化进程加速，但偏远地区、海洋、沙漠等地面 难以覆盖的场景仍存在网络覆盖盲区。途鸽科技此次发布的解决方案通过"5G云通信+卫星IoT"双模架 构，整合中低轨卫星(MEO/LEO)、地面基站及云平台能力，支持终端在无地面网络时自动切换至卫星 链路，确保数据实时回传，满足应急通信、海事物流、智慧农业、能源监测等场景的刚需。 全球5G云通信+卫星IoT解决方案已在海事物流领域广泛应用，为船舶提供了准确、高效、全球覆盖的 通信服务 此次"全球5G云通信+卫星IoT解决方案"的发布，标志着途鸽科技从'地面通信'向'空天地一体化'的战略 升级。 ...

证券研究报告：基础化工 | 公司深度报告 股票投资评级 增持|首次覆盖 个股表现 -12% -3% 6% 15% 24% 33% 42% 51% 60% 69% 2024-06 2024-09 2024-11 2025-01 2025-04 2025-06 广东宏大 基础化工 资料来源：聚源，中邮证券研究所 公司基本情况 | 最新收盘价（元） | 32.56 | | --- | --- | | 总股本/流通股本（亿股）7.60 / 6.51 | | | 总市值/流通市值（亿元）247 / 212 | | | 52 周内最高/最低价 | 33.82 / 17.82 | | 资产负债率(%) | 60.3% | | 市盈率 | 27.56 | | 第一大股东 | 广东省环保集团有限公 | | 司 | | 研究所 分析师:鲍学博 SAC 登记编号:S1340523020002 Email:baoxuebo@cnpsec.com 分析师:马强 SAC 登记编号:S1340523080002 Email:maqiang@cnpsec.com 广东宏大(002683) 矿服民爆一体化龙头，深耕军工谱新篇 ⚫ 投资要点 广 ...

021-60635736 期货从业资格号：F3033782 投资咨询证书号：Z0014484 021-60635735 niejiayi@ccb.ccbfutures.com 期货从业资格号：F03124070 021-60635727 fengzeren@ccb.ccbfutures.com 期货从业资格号：F03134307 报告类型 焦炭焦煤日评 日期 2025 年 6 月 27 日 黑色金属研究团队 研究员：翟贺攀 zhaihepan@ccb.ccbfutures.com 研究员：聂嘉怡 研究员：冯泽仁 请阅读正文后的声明 ＃summary＃ 每日报告 | | | | | | 表1：6月26日焦炭焦煤期货主力合约价格、成交及持仓情况（单位：元/吨、手、亿元） | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 合约 代码 | 前收 盘价 | 开盘价 | 最高价 | 最低价 | 收盘价 | 涨跌幅 | 成交量 | 持仓量 | 持仓量 变化 | 资金流 入流出 | | J2509 | 1387. ...

太阳，这颗距离地球最近的恒星，源源不断地为地球提供光和热。然而，这颗演化了46亿年的星 球，还存有诸多未解之谜，静待人类探索。 如今，人类对太阳的观测仰望，又多了一双"慧眼"。6月24日，国家重大科研仪器研制项目"2.5米 大视场高分辨率太阳望远镜"（WeHoST）在四川稻城启动建设配套项目，预计2027年望远镜完成装调 并投入试运行。建成后，该望远镜将成为目前全世界最大的轴对称太阳望远镜。 "目前太阳研究的焦点问题之一是太阳爆发的物理机制。譬如太阳为何会爆发、太阳爆发是如何释 放能量的、太阳爆发对地球会产生什么影响等。"WeHoST项目负责人、南京大学天文与空间科学学院 教授丁明德介绍，WeHoST的科学目标就是观测研究太阳活动区的起源和演化，以及太阳爆发现象，特 别是太阳耀斑和日冕物质抛射的特征和机制。 工欲善其事，必先利其器。"目前已有的大型太阳望远镜镜视场小，虽然能够清晰观察到太阳表面 小尺度的精细结构，但对于研究太阳活动区和太阳爆发活动还远远不够。而WeHoST最大的特点就是既 有大视场又有高分辨率，可以看到太阳爆发全貌。"中国科学院院士、南京大学天文与空间科学学院教 授方成表示，WeHoST的观测 ...

Group 1 - The Hong Kong SAR government released the "Hong Kong Digital Asset Development Policy Declaration 2.0," aiming to establish Hong Kong as a global innovation center in the digital asset field [1] - The new policy declaration builds on the first declaration from October 2022, emphasizing the government's vision for digital asset development and the practical application of tokenization [1] - The declaration aims to create a robust digital asset ecosystem that integrates with the real economy and social life, reinforcing Hong Kong's position as an international financial center [1] Group 2 - The National Financial Regulatory Administration and the People's Bank of China jointly issued the "Implementation Plan for High-Quality Development of Inclusive Finance," targeting the establishment of a high-quality inclusive financial system within five years [2] - The plan focuses on optimizing the inclusive financial service system, enhancing the inclusive credit system, and strengthening the inclusive insurance system to support private enterprises [2] Group 3 - China Mobile is seeking nationwide partners for the "RWA Ecological Cooperation" initiative to promote the digitalization and capitalization of real-world assets (RWA) [3] - The initiative will select 20 units to form the "RWA Joint Laboratory," focusing on data resource integration, technology research and development, and funding support [3] Group 4 - The Ministry of Commerce announced plans to implement an integrated action for domestic and foreign trade, aiming to cultivate leading enterprises in this area [4] - The ministry will host over 330 events for foreign trade promotion and enhance policy support for enterprises facing difficulties [4] Group 5 - The National Development and Reform Commission plans to implement a loan interest subsidy policy for equipment updates to reduce financing costs for businesses [5] - The sales of related products for the "old-for-new" policy have exceeded 1.4 trillion yuan this year [5] Group 6 - The National Medical Insurance Administration has included a commercial health insurance innovation drug directory in the 2025 adjustment plan, highlighting the growing role of commercial health insurance in the multi-tiered medical security system [6] Group 7 - A new generation of domestically developed CPU, the Longxin 3C6000, was released, which does not rely on any foreign supply chains and meets various computing needs [7][8] Group 8 - The Central and State Offices issued opinions to advance flood control reservoir construction and improve the flood control engineering system [9] Group 9 - The National Development and Reform Commission announced additional central budget investments to support local implementation of labor substitution projects, aiming to address employment and income issues for key groups [10] Group 10 - Shanghai is focusing on industries such as cell and gene therapy, quantum technology, and 6G, aiming to enhance its technological innovation and research capabilities [11]