每经编辑｜蒙锦涛 当时间的指针转向2026，"活力"二字成为中国经济更深层的期待。 这不仅意味着增长，更代表着在复杂变局中锻造韧性、在开放合作中激发创新、在以人为本中实现可持续的未来图景。一个强大而富韧性的国内市场，正 成为支撑产业升级、保障经济安全、孕育全球竞争力的坚实底座。在这一宏观背景下，作为国民经济重要支柱的汽车产业，也站在了转型与价值重塑的关 键节点。 对于梅赛德斯-奔驰而言，2026年同样是迎难而上、深化本土融合的重要一年。面对行业结构性调整与市场竞争的挑战，梅赛德斯-奔驰展现出长期主义者 的定力——不追逐短期喧嚣，将目光聚焦于通过扎实的技术创新、深度的开放合作与坚定的可持续实践，来构筑面向未来的体系竞争力。这并非简单的市 场应对，而是其深耕中国数十载后，与中国经济发展脉络的一次深度协同：以"奔驰标准"所代表的品质与安全为基石，以"中国速度"所蕴含的创新与活力 为引擎，共同驱动出行价值的重构。 这份"活力"，体现在梅赛德斯-奔驰将最前沿的电动化、智能化技术在中国市场率先落地；体现在其将研发的根须更深地扎进本土土壤，与中国的科技伙 伴共创共赢；更体现在其将绿色生产与循环经济的理念贯穿全价值链，积极响 ...

Core Viewpoint - The company, Hangzhou Fu'en Co., Ltd., is facing significant performance fluctuations ahead of its IPO, with expected declines in both revenue and net profit for 2025, raising concerns about its financial stability and operational efficiency [1][6]. Company Overview - Fu'en Co., Ltd. is a leading global supplier of eco-friendly fabrics, focusing on the research, production, and sales of sustainable materials, and has established itself as a leader in recycled fabrics for clothing in China [1]. Financial Performance - The company reported significant revenue fluctuations, with revenues of 17.64 billion yuan in 2022, 15.17 billion yuan in 2023, and an expected 17.08 billion yuan in 2025, indicating a 5.79% decline [5][6]. - Net profit for 2022 was 2.77 billion yuan, with projections for 2025 showing a decrease to 2.29 billion yuan, a drop of 16.61% [6]. - The company’s cash flow from operating activities was 1.14 billion yuan in the first half of 2025, down from 3.72 billion yuan in 2024 [5]. Shareholder Structure - The controlling family of the company holds 83.89% of the voting rights, with significant influence over company decisions [3]. - The largest shareholder, Payia (Zhejiang) Technology Holdings Co., Ltd., holds 36.57% of the shares, controlled by family members [2][3]. Dividend Distribution - Prior to the IPO, the company executed a substantial cash dividend of 381 million yuan, exceeding its net profit of 277 million yuan for that year, raising concerns about financial prudence [8][9]. Capital Raising and Investment Plans - The company plans to raise 1.25 billion yuan through its IPO, with 800 million yuan allocated for a new integrated project for eco-friendly fabrics and 450 million yuan for a high-end recycled materials research institute [10][11]. Production Capacity and Utilization - The company is facing declining capacity utilization rates, with a drop from 93.56% in 2022 to 84.35% in the first half of 2025 [13]. - New projects are expected to add significant production capacity, including 75 million meters of colored fabric and 3,000 tons of high-end recycled knitted fabric annually [12]. Market Concentration - The company’s revenue is highly concentrated, with the top five clothing brand customers accounting for approximately 79.60% of its revenue in 2022 [4][6]. International Revenue Exposure - A significant portion of the company’s revenue comes from international markets, with foreign sales accounting for 45.35% to 53.29% of total revenue from 2022 to 2025 [6]. - The company faces risks related to currency fluctuations, particularly with its high dollar-denominated revenue [7]. Inventory Concerns - The company has seen a rise in inventory levels, with total inventory balances increasing from 2.21 billion yuan in 2022 to 2.77 billion yuan in 2023, indicating potential overproduction or sales challenges [14]. Cost Structure and Profitability - The company anticipates increased fixed costs from new projects, which may burden profitability, with projected annual depreciation and labor costs exceeding 74 million yuan once projects are fully operational [15].

Core Points - China submitted its approval of the "Agreement on the Conservation and Sustainable Use of Marine Biological Diversity of Areas Beyond National Jurisdiction" to the UN Secretary-General, marking a significant step in global marine governance and China's commitment to multilateralism [1][3] - The agreement, which will come into effect on January 17, 2026, is a result of 19 years of negotiations among over 190 UN member states and is seen as a major achievement in multilateral negotiations [3][11] Group 1: Global Governance and Sustainable Development - The agreement focuses on the conservation and sustainable use of marine biodiversity in areas beyond national jurisdiction, establishing key frameworks such as deep-sea genetic resources management and environmental impact assessments [3][4] - China's participation in the agreement reflects its commitment to ecological civilization and global governance, aiming to contribute to sustainable development goals [3][5] Group 2: National Interests and Global Responsibilities - As a leading marine nation, China's decision to approve the agreement is driven by its development needs and a sense of global responsibility [5] - The approval includes four declarations to protect China's interests, ensuring that pre-agreement deep-sea genetic resources are not subject to the agreement's constraints [5][6] Group 3: Institutional Adjustments and Industry Transformation - Following the agreement's enactment, China will undergo institutional adjustments and industry transformations, with the Ministry of Natural Resources taking the lead in compliance efforts [7][8] - The agreement is expected to promote a shift towards greener and smarter industries, enhancing resource utilization and developing high-value products through international collaboration [8] Group 4: International Cooperation and Capacity Building - China is actively promoting international cooperation under the agreement, having signed marine cooperation agreements with over 50 countries and organizations [10] - Initiatives such as the establishment of international research centers and joint marine research projects aim to enhance scientific understanding and collaboration in deep-sea exploration [10]

Core Insights - The "National Certificate Energy Sustainable Development Index" (referred to as "Energy ESG") was officially launched on December 25, developed by the China Energy Research Society and Shenzhen Securities Information Co., Ltd [1][2] - The index aims to serve as a benchmark for ESG investment in the energy sector, promoting green and low-carbon transformation [2] Group 1: Index Methodology - The selection process for the index involved ranking securities based on their average daily trading volume and market capitalization over the past six months, eliminating the bottom 20% [1] - The final sample consists of 50 companies with high ESG scores and strong profitability and growth potential, with a total market capitalization of 5.9 trillion yuan [1] - The average market capitalization of the sample companies is 118.2 billion yuan, with 12 companies exceeding 100 billion yuan in market value [1] Group 2: Sample Companies - The top ten companies by weight in the index include Yangtze Power, China Shenhua, China Petroleum, China Petrochemical, Shaanxi Coal and Chemical Industry, China Nuclear Power, CNOOC, Three Gorges Energy, Guodian Power, and Huaneng International, collectively accounting for 65% of the index [1] Group 3: Future Plans - The China Energy Research Society plans to collaborate with leading investment institutions to create ESG index funds (ETFs) that track the Energy ESG index, aiming to establish a complete ecosystem of "standards leading - index representation - fund empowerment" [2]

北京2025年12月24日 /美通社/ -- 隐奢逸境运营管理的丽江金茂璞修雪山酒店与凉山文旅泸沽湖隐奢逸境 酒店联合推出"山湖星约•逸境相逢"2025双子座流星雨特别观星活动，在玉龙雪山之巅与泸沽湖静谧之 畔同步开启这场极致浪漫的旅程，为天文爱好者与旅行者呈现了一场为期4天的星空探索与人文体验盛 宴。 来源：美通社 隐奢逸境充分整合两家酒店独特的区位优势、专属的暗夜环境与稀缺的观星资源，通过精准的市场定位 与差异化运营，打造了集天文观测、星空摄影、在地文化体验于一体的高品质文旅活动。此次活动不仅 登陆央视直播间，吸引160万人次观看，更携手《中国国家地理》获得百万流量；同时获得当地媒体与 公众的高度关注，新媒体平台收获共计近30万自然浏览量，形成了多渠道、高曝光的传播矩阵，以酒店 为重要支点，通过国际化服务标准与在地文旅深度融合，为地方打造高端休闲IP，推动乡村振兴与可持 续发展，充分展现了隐奢逸境在高端酒店营销创新方面的专业能力。 双秘境联动：酒店差异化运营与文旅融合实践 "山湖星约"不仅是地理意义上的"一山一湖"双地联动，更是同一片星空下的两种观星体验，这充分体现 了隐奢逸境"一店一策"的差异化运营哲学 ...

来源：环球网 【环球网消费报道 记者 刘晓旭】南海之滨，椰风轻拂。2025年12月12日，一场关乎黄金产业未来的思想盛宴在三亚拉开帷幕。由世界黄金协会与中国黄金 协会联合主办的"2025黄金行业可持续发展大会"在此隆重举行。在全球ESG浪潮奔涌与"双碳"目标深入推进的时代背景下，本次大会汇聚国内外行业领袖、 顶尖学者与资深媒体，共同探讨黄金行业可持续增长的新路径，共建负责任的黄金产业生态，推动整个产业链向善而行。 大会伊始，主持人世界黄金协会中国区CEO王立新便点明了会议的深远意义。他提到，2025年是挑战与机遇并存的关键之年，可持续发展已从行业共识上升 为全球行动，这一议题正深刻重塑着全球黄金产业的格局。 在随后的主旨演讲环节，中国黄金、山东黄金、紫金矿业、山东招金四大黄金巨头的领军人物联袂登场，奉献了一场关于战略、实践与未来的深度对话，为 中国黄金产业的可持续发展之路提供了清晰的路线图和生动的实践样本。 作为行业的压舱石和领航者，四大黄金集团从各自企业的实践出发，系统阐述了对可持续发展的深刻理解与战略布局，展现了新时代中国黄金企业的责任与 担当。 0:00 战略引领，合规筑基：中金黄金的"新篇章"之道 中 ...

在市场拓展方面，艾多美采取稳健的发展策略。企业通过优质产品和服务赢得消费者认可，实现自然增 长。这种以价值吸引客户的方式，与传销通过激进手段扩张的模式存在根本差异。传销往往追求短期规 模扩张，而艾多美则注重可持续发展。艾多美重视品牌价值的长期积累。企业通过诚信经营和优质服 务，逐步建立品牌信誉。这种以信誉赢得市场的方式，与传销缺乏品牌建设的做法形成鲜明对比。传销 通常不注重品牌价值，而艾多美则将品牌视为重要资产。在员工价值实现方面，艾多美提供完善的成长 平台。 在商业领域，企业的本质特征通过其商业逻辑与价值创造方式得以体现。艾多美构建了以产品为核心、 以消费者价值为导向的商业体系，这种健康的商业模式与传销活动存在根本性差异，展现出完全不同的 发展路径和社会价值。艾多美的商业逻辑建立在真实的价值创造基础之上。企业通过研发、生产和销售 优质产品来实现合理盈利，这种以产品为本的商业模式，与传销依靠发展人员获取收益的方式形成鲜明 对比。 企业通过系统培训和职业规划，帮助员工提升专业能力。这种关注员工发展的理念，与传销将员工作为 工具的取向形成强烈反差。传销往往忽视员工权益，而艾多美则重视员工成长。艾多美积极履行社会责 ...

12月22日，南方电网储能股份有限公司（南网储能，600995.SH）成功召开2025年第四次临时股东大 会，选举产生了第九届董事会。此次换届选举，是公司发展历程中的重要时刻，为南网储能的未来发展 注入了新的活力与智慧。 新一届董事会由刘国刚、李定林、范晓东、张昆、杜云辉5名非独立董事，陈启卷、王晓锦、张粒子3名 独立董事，以及职工代表董事肖植甫共同组成。在随后的选举中，由刘国刚先生担任董事长，李定林先 生担任总经理，全面主持经营。高磊先生担任公司副总经理兼会计师，周建为先生、孙立群先生、黄海 先生、李媛媛女士担任公司副总经理，钟林先生担任公司董事会秘书。 2025年，公司荣获 "第二十届中国上市公司董事会'金圆桌奖'" 的 "公司治理特别贡献奖" 和 "董秘好助 手"，充分体现了南网储能在公司治理结构、董事会运作、信息披露、投资者关系管理等方面的优秀表 现。公司始终坚持以规范的治理结构和高效的决策机制为核心，不断提升公司治理水平，保障股东和利 益相关者的合法权益。同时，公司注重信息披露的及时性、准确性和完整性，积极与投资者进行沟通交 流，增强了市场的信心和认可度。 在投资者关系管理方面，南网储能也取得了丰硕 ...

Core Insights - The article discusses the rapid rise of Guande, a small city in southeastern Anhui, as a popular destination due to its unique food offerings, particularly the "Guande three-piece set" consisting of stewed pot, milk tea, and peach crisp, which has garnered significant online attention and visitor influx [1][2][8] Group 1: Tourism and Consumer Behavior - The "Guande three-piece set" concept emerged from social media, attracting visitors from the Yangtze River Delta region, highlighting the convenience of travel to Guande [2][3] - The rise in popularity aligns with a shift in tourism trends from product-driven to experience-driven consumption, where the three-piece set fulfills various consumer needs [3][8] - The city has seen a significant increase in visitor numbers, with over 400 million views of related topics online and a 30% increase in revenue for small dining businesses [8][9] Group 2: City Governance and Infrastructure - Guande's local government has implemented a coordinated response to manage the influx of tourists, including free shuttle buses and enhanced market regulation to ensure safety and order [4][5][6] - The city is focusing on systematic urban governance improvements, including infrastructure upgrades and cultural integration to support long-term growth and sustainability [7][9] - Local businesses are actively participating in the tourism boom, with restaurants increasing staff and production capacity to meet demand [6][8] Group 3: Sustainable Development and Future Planning - Guande is exploring sustainable development strategies by connecting local agricultural products to the food industry and expanding into pre-prepared meal markets [9][10] - The city aims to diversify tourist attractions beyond the main street by promoting historical and natural sites through free transportation initiatives [9][10] - Long-term plans include developing a health and wellness industry, with significant investments and projects underway to enhance the city's appeal and infrastructure [10]

Company Overview - Youlesai is a Chinese provider of circular packaging services, primarily focused on serving automotive parts manufacturers and OEMs [3] - The company offers shared operations for managing circular packaging, including storage, distribution, and maintenance [3] - Youlesai is the second-largest provider of circular packaging services in China, with a market share of 1.5%, and the largest provider of automotive shared operations services, holding a market share of 8.2% [3][4] Market Position - By 2024, the circular packaging services, shared operations services, and automotive shared operations services are expected to account for 6.4%, 2.4%, and 1.0% of China's overall logistics packaging solutions market, respectively [3] - As of August 31, 2025, Youlesai has established a warehousing network covering over 100 cities with 78 warehouses [4] Financial Performance - The company recorded revenues of RMB 647.6 million, RMB 794.0 million, RMB 837.6 million, and RMB 533.3 million for the years 2022, 2023, 2024, and the eight months ending August 31, 2025, respectively [6] - The net profit for the same periods was RMB 31.2 million, RMB 64.1 million, RMB 50.7 million, and RMB 26.9 million [7] - The gross profit margins for 2022, 2023, 2024, and the eight months ending August 31, 2025, were 19.7%, 21.4%, 22.0%, and 20.8%, respectively [8] Industry Overview - The global logistics industry is projected to grow significantly, with total logistics spending expected to reach approximately USD 14.7 trillion by 2030 [10] - In 2024, China's logistics spending is estimated to be around USD 2.9 trillion, accounting for 25% of the global logistics market [10] - The logistics packaging solutions market in China is expected to grow from USD 90.4 billion in 2019 to USD 118.7 billion in 2024, with a compound annual growth rate (CAGR) of 5.6% [11]