近期 上海重阳投资管理股份有限公司（简称"重阳投资"或"本公司"）发现有不法分子假冒 重阳投资及重阳投资创始人裘国根、法定代表人王庆、总裁汤进喜、合伙人舒泰峰等员 工的名义，通过手机应用程序（APP）、网站、微信、钉钉、企微等各种平台及方式开 展非法荐股、非法集资等非法活动，骗取投资者资金或者信息。 为提醒广大投资者保护合法权益，维护公司声誉，重阳投资郑重声明及提示如下： 一、重阳投资全称为 "上海重阳投资管理股份有限公司" ，为中国证券投资基金业协会登记的 私募证券投资基金管理人（登记编码：P1000265），重阳投资和重阳投资基金从业人员的公示 信息均可以通过中国证券投资基金业协会官方网站 （https://www.amac.org.cn/） 进行查询。请 广大投资者注意甄别行为主体。 二、重阳投资一贯严格遵守法律法规、自律规则的各项规定向合格投资者非公开募集资金，仅 开展私募证券投资基金管理业务和私募资管产品投资顾问业务。重阳投资及重阳投资创始人裘 国根、法定代表人王庆、总裁汤进喜、合伙人舒泰峰等全体员工从未开展或授意任何个人或机 构以任何形式从事任何种类的非法荐股、非法集资等非法活动。 重阳投资及全体 ...

Core Viewpoint - The conference on green organic silicon polymer materials aims to enhance cooperation between China and Russia in the field of organic silicon chemistry and polymer materials, promoting sustainable development and innovation in this sector [1][2]. Group 1: Conference Overview - The conference was co-hosted by the China Fluorosilicone Organic Materials Industry Association, Shandong University, Zhejiang Sci-Tech University, and the Russian Academy of Sciences [1]. - Key figures such as Shandong University President Li Shucai and Russian Academy of Sciences Academician Aziz Muzafarov attended and delivered speeches [1]. Group 2: Goals and Objectives - The conference seeks to deepen collaboration in green organic silicon polymer materials, aiming to create a bridge for academic research and share green chemical technology [1]. - It focuses on the entire innovation chain from basic research to industrial application of organic silicon materials, exploring their innovative applications under the "carbon neutrality" goal [1]. Group 3: Collaborative Potential - Both China and Russia have complementary strengths in organic silicon materials research, and there is an expectation for deep collaboration to drive global materials science innovation [2]. - The conference emphasizes the importance of open cooperation and mutual benefits to overcome technical challenges and expand new applications and markets for organic silicon products [2].

Group 1 - China is the world's largest coal producer and consumer, with coal production expected to reach 4.78 billion tons and consumption at 4.81 billion tons in 2024, accounting for 66.6% and 53.2% of energy production and consumption respectively [1] - The coal industry in China has undergone significant structural reforms, leading to increased production capacity and improved safety, with production rising from 3.41 billion tons in 2016 to 4.78 billion tons in 2024, a growth of 40.18% [2] - Despite coal's dominant position, the rapid growth of non-fossil energy sources has raised concerns among industry professionals, with renewable energy generation capacity surpassing 2 billion kilowatts by April 2025, a year-on-year increase of 26% [2] Group 2 - The transition of coal's role in the energy structure is expected to evolve through four stages from now until 2060, with coal's position shifting from a primary energy source to a supporting role, while non-fossil energy sources will gradually take precedence [3] - A new energy system is being constructed, characterized by a shift from high-carbon to low-carbon and eventually to zero-carbon energy sources, with an emphasis on distributed energy systems and integrated supply-demand models [4] - The coal industry is transitioning from being viewed solely as a fuel source to being recognized as a raw material and material source, with a focus on creating an integrated ecosystem involving coal, new energy, storage, and hydrogen [6] Group 3 - Future coal industry policies are expected to prioritize quality over quantity, focusing on energy security, green transformation, technological innovation, and social equity, while facilitating an orderly exit from coal dependency [6][7] - The coal sector's strategic focus will include optimizing capacity, low-carbon demonstration projects, new energy integration, carbon trading, and the development of high-end coal-based materials [7] - The consensus among experts is that coal will continue to play a crucial role in ensuring energy security, particularly as renewable energy sources face challenges related to storage and volatility [6]

证券研究报告 | 2025年06月17日 公用环保 202506 第 3 期 优于大市 国家能源局开展能源领域氢能试点工作，广东省印发《全域"无废城市"建设工 作方案》 市场回顾：本周沪深 300 指数下跌 0.25%，公用事业指数上涨 0.26%，环 保指数下跌 1.19%，周相对收益率分别为 0.52%和-0.94%。申万 31 个一 级行业分类板块中，公用事业及环保涨幅处于第 10 和第 22 名。分板块 看，电力板块子板块中，火电上涨 0.83%；水电上涨 1.03%，新能源发 电下跌 0.22%；水务板块下跌 1.00%；燃气板块上涨 0.42%；检测服务板 块上涨 0.96%。 重要事件：国家能源局开展能源领域氢能试点工作。文件明确试点方向包 括：规模化制氢及一体化在风、光、水电、核电、生物质资源丰富地区， 开展规模化可 再生能源制氢、核电制氢项目建设，并适应风电、光伏 等波动特性。 下游可一体化耦合氨、醇、航煤、炼化等场景。配套可 再生能源项目上网电量比例不超过 20%，原则上不占用系统调节资源， 制氢电解槽装机规模不低于 100 兆瓦（或气化产能不低于 20000 标方/ 时），电解槽运行负荷 ...

证券研究报告 | 2025年06月17日 公用环保 202506 第 3 期 优于大市 国家能源局开展能源领域氢能试点工作，广东省印发《全域"无废城市"建设工 作方案》 市场回顾：本周沪深 300 指数下跌 0.25%，公用事业指数上涨 0.26%，环 保指数下跌 1.19%，周相对收益率分别为 0.52%和-0.94%。申万 31 个一 级行业分类板块中，公用事业及环保涨幅处于第 10 和第 22 名。分板块 看，电力板块子板块中，火电上涨 0.83%；水电上涨 1.03%，新能源发 电下跌 0.22%；水务板块下跌 1.00%；燃气板块上涨 0.42%；检测服务板 块上涨 0.96%。 重要事件：国家能源局开展能源领域氢能试点工作。文件明确试点方向包 括：规模化制氢及一体化在风、光、水电、核电、生物质资源丰富地区， 开展规模化可 再生能源制氢、核电制氢项目建设，并适应风电、光伏 等波动特性。 下游可一体化耦合氨、醇、航煤、炼化等场景。配套可 再生能源项目上网电量比例不超过 20%，原则上不占用系统调节资源， 制氢电解槽装机规模不低于 100 兆瓦（或气化产能不低于 20000 标方/ 时），电解槽运行负荷 ...

□ 南京日报/紫金山新闻记者 徐宁 软件，看不见摸不着，却无处不在，正在定义整个世界，开启信息经济发展新图景。 软件究竟给我们的生活带来了哪些改变？6月17日至19日，2025南京软件大会将在江北新区召开。大会 前夕，记者走访了几家南京重点软件企业，近距离观察软件如何让人们的生活更美好。 "我们助力伊利集团搭建乳业碳管理运营平台，聚焦其碳排放的过程管理与精细化管理，统筹碳排放数 据及各项指标，统一核算标准，更创新性开拓供应链碳足迹管理新路径，全面覆盖从种植养殖、生产加 工到消费回收的全链条碳足迹可视化管理。"擎工互联CEO吴炎介绍。 所谓"零碳"，并非完全不排放二氧化碳，而是通过计算温室气体排放，设计方案抵减碳足迹、减少碳排 放，直至达成碳的相对零排放。吴炎说，每件产品都有其独一无二的二维码，扫一扫，不仅能得到绿色 能量奖励，还能全链条了解产品碳足迹，每个环节的碳排放都一目了然。 擎工互联以"算好每一吨碳排放，管好每一吨碳资产"为使命，专注于企业碳达峰、碳中和数字化服务领 域，系列产品广泛应用于城市、园区、企业、工厂、建筑等各个场景，为上万家企业提供数字化碳管理 服务。 除了喝的牛奶，日常使用的杯子也留下了" ...

Core Viewpoint - The article highlights the successful collaboration between Weihai and Incheon over the past decade, emphasizing the establishment of the "Double City Double Pavilion" model, which has significantly enhanced economic and cultural exchanges between China and South Korea, particularly in trade and investment opportunities [4][12]. Economic Cooperation - The "Double City Double Pavilion" model has facilitated over 320 economic exchange activities, resulting in a trade volume of approximately $10 billion [7]. - Weihai has hosted 380 economic activities since the establishment of its pavilion, attracting over 40,000 participants, which has led to multiple investment projects in sectors like new energy and artificial intelligence [8]. - The establishment of a local economic cooperation joint committee has resulted in over 110 cooperation agreements, enhancing trade, logistics, and cultural exchanges [9]. Trade and Investment - The recent B2B procurement meeting in 2025 saw participation from 11 small and medium-sized enterprises from Incheon, leading to over 150 trade connections and an intended trade volume exceeding 17.5 million yuan [11]. - Since 2014, the number of Korean-funded enterprises in Weihai has increased by nearly 200, accounting for 54.1% of the city's foreign-funded enterprises [12]. - The investment from Chinese enterprises in South Korea has also grown, with the number of investment entities increasing from 15 in 2014 to 62 in 2024, with a total investment amounting to $14 million [12]. Cultural Exchange - The collaboration has not only focused on economic aspects but also on cultural exchanges, with initiatives like Korean traditional clothing experiences and K-pop performances being organized to promote cultural understanding [10][11]. - The establishment of a consumer rights protection mechanism between the two cities has further strengthened the cultural ties and consumer trust [9]. Future Outlook - Experts suggest that the "Double City Double Pavilion" model should evolve to address emerging sectors such as digital economy and green technology, enhancing infrastructure and promoting sustainable practices [13][14]. - The focus on cross-border e-commerce and the development of a green technology industrial park are seen as key areas for future collaboration, aiming to boost regional economic integration in Northeast Asia [14].

Carbon Neutrality Policy - The National Energy Administration has launched hydrogen energy pilot projects covering the entire "production, storage, transportation, and application" chain, focusing on 11 specific directions [4] - The pilot projects aim to promote innovative hydrogen management models and explore diversified paths for hydrogen industry development [4] Local Dynamics - Nanjing Customs has initiated a carbon service pilot to guide enterprises in carbon accounting and reporting, providing a one-stop carbon mileage service [9] - The service focuses on the entire product lifecycle carbon management, helping enterprises improve their self-reporting capabilities [9] Corporate Practices - Longi Green Energy anticipates explosive growth in the green alcohol industry within the next 2-3 years, driven by advancements in technology and policy support [10] - The company has initiated three projects in the green alcohol sector, with the first project expected to be operational by 2027, and has secured long-term agreements with Maersk [10]

2024年以来，我国电网投资提速推进，行业景气度提升，电网投资持续迈上新台阶。按照国家电网2025 年工作会议部署，2025年国家电网将进一步加大投资力度，全年电网投资有望首次超过6500亿元；与此 同时，南方电网也预告2025年电网投资规模将达到1750亿元，预计2025年电网总投资将超8250亿元，这 是两网投资首次突破8000亿元，标志着电网投资进入加速期，对电线电缆行业需求增长形成较强的支 撑。 在电网迎来投资大年，电线电缆业务迎来订单高速增长之际，赛道内头部企业的经营情况也备受广大投 资者关注。 近日，就投资者关心的公司电缆业务订单情况，河南省电线电缆行业龙头企业——通达股份 （002560.SZ）通过深交所互动易表示，"公司电缆业务一季度新签订单金额同比增长61.98%，根据今年 1-5月份已经披露的电缆业务预中标公告统计，电缆业务预中标金额同比增长335.89%"。 资料显示，作为一家30余年专业从事电线电缆生产和研发的公司，多年来，通达股份生产的特高压、超 高压工程用线缆类产品在标准、质量和产能规模上均持续处于国内优势地位。在中低压电缆以及其它电 缆产品方面，公司目前相继研发了应用于轨道交通的 ...

2025 年 6 月 16 日 总量研究 医药主题基金表现亮眼，股票型 ETF 资金延续流出 ——基金市场与 ESG 产品周报 20250616 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 2025.6.9-2025.6.13）地缘冲突影响下原油价格延续大涨，国内权益市场指 数表现分化，创业板指上涨 0.22%。行业方面，本周有色金属、石油石化、 农林牧渔行业涨幅居前，食品饮料、家用电器、建筑材料行业跌幅居前。基 金市场方面，本周偏股混合型基金表现领先，股票指数基金小幅下跌。 基金产品发行情况：本周国内市场新成立基金 16 只，合计发行份额为 89.34 亿份。其中债券型基金 5 只、混合型基金 6 只、股票型基金 4 只、FOF 基金 1 只。全市场新发行基金 34 只，从类型来看，股票型基金 19 只、混合型基 金 5 只、FOF 基金 4 只、债券型基金 3 只、REITs2 只、国际(QDII)基金 1 只。 基金产品表现跟踪：长期行业主题基金指数方面，本周医药主题基金优势延 续，上涨 3.75%，TMT 主题基金净值回撤。截至 2025 年 6 月 13 日，本周 医药、周 ...