Core Viewpoint - YESMRO Holdings Limited, also known as "易买工品," has submitted an application for listing on the Hong Kong Stock Exchange, with Agricultural Bank of China International as its sole sponsor [2]. Company Overview - Established in 2016, YESMRO is a leading provider of digital FA factory automation components in China, focusing on digital transformation in an industry traditionally reliant on decentralized offline transactions [2]. - According to Zhaoshang Consulting, YESMRO holds the top position in China's digital FA factory automation component procurement service market, with a market share of 8.5% as of 2024 [2]. Client Base and Retention - The company has served over 24,000 different automation equipment manufacturers across various industries [2]. - Customer retention rates for the nine months ending September 30 in 2023, 2024, and 2025 were 67.3%, 70.9%, and 73.3%, respectively [2]. Financial Performance - For the nine months ending September 30 in 2023, 2024, and 2025, YESMRO reported revenues of RMB 533.802 million, RMB 636.527 million, and RMB 553.709 million, respectively [4][5]. - Gross profits for the same periods were RMB 40.680 million, RMB 46.398 million, and RMB 40.040 million, respectively [4][5]. - The company incurred losses of RMB 401.986 million, RMB 679.828 million, and RMB 293.883 million for the same periods [4][5]. Recent Financing and Valuation - The latest financing round for YESMRO occurred in September 2022, with a valuation of USD 251 million at that time [3]. Voting Structure - Prior to the IPO, YESMRO adopted a weighted voting rights structure, where each B-class share carries 9 votes and each A-class share carries 1 vote. The major shareholder, Zhu Hongtao, holds 15.50% of the shares but controls 62.28% of the voting rights through Better Man Holdings [6].

Core Insights - Supply chain finance is experiencing unprecedented development opportunities as it connects industries and finance in the wave of digital transformation [1] - The company aims to provide fully online, scenario-based, and efficient financing solutions to support the sustainable development of the real economy [1] Product Offerings - The supply chain finance platform features a diverse product system that addresses the financing needs of different roles and stages within the supply chain [1] - Supplier financing products and dealer financing products are part of the offerings [2][3] Inclusive Financing - The company collaborates with multiple financial institutions, such as Industrial and Commercial Bank of China, to provide batch credit services for small and micro clients based on real data from the industry chain, characterized by low thresholds, favorable interest rates, and quick approvals [3] Technological Infrastructure - The platform utilizes "Cloud Data Chain" and "Cloud Data Bridge" as core technology platforms, ensuring data security and transaction safety through various advanced measures [3] - It supports customizable business process configurations and is compatible with mainstream ERP systems and various bank products [4] Innovation and Efficiency - The integration of big data, artificial intelligence, and cloud computing helps create a credit evaluation system that allows for significant pre-positioning of financing nodes, enabling online and flexible borrowing services [5] Financial Ecosystem - The platform aims to break down information barriers between industries and finance, creating a collaborative ecosystem involving core enterprises, upstream and downstream companies, financial institutions, and technology platforms [9] - It has established strategic partnerships with leading domestic and international banks to provide stable, efficient, and reliable financial services to supply chain enterprises [9] Risk Management - The company constructs dynamic risk assessment models based on real trade backgrounds and behavioral data, achieving proactive and precise risk identification [8] Value Creation - By connecting various data sources such as ERP, order systems, and logistics information, the platform transforms transaction data into credit assets, promoting financial inclusivity for small and micro enterprises [8]

Core Viewpoint - The launch of the digital transformation pilot program for small and medium-sized enterprises (SMEs) in Wuhai marks the beginning of comprehensive implementation of digital transformation efforts aimed at enabling industrial upgrades and exploring new paths for high-quality development in resource-based cities [1][3]. Group 1: Digital Transformation Initiatives - The theme of the meeting was "Digital Intelligence Driven, Green Upgrade, Quality Improvement and Efficiency," focusing on empowering industrial upgrades through digitalization [1]. - Wuhai has been recognized as a national pilot city for SME digital transformation, which is seen as a critical leap for the city's industrial advancement [3]. - The local government aims to ensure that all large-scale SMEs meet digitalization standards while creating an efficient service system to establish a new model for collaborative transformation [3]. Group 2: Government Support and Policies - The Inner Mongolia Autonomous Region's Industrial and Information Technology Department emphasizes digital transformation as a key driver for high-quality development of SMEs, with policies supporting cities like Hohhot and Wuhai [4]. - The department plans to enhance support and optimize services to create a transformation mechanism that involves enterprises, market forces, government guidance, and ecological collaboration [4]. - The meeting introduced the first batch of service providers for Wuhai's SME digital transformation, including targeted financial products from local banks to support the transition [4]. Group 3: Collaborative Efforts and Future Directions - The meeting effectively gathered various stakeholders, including government, industry, academia, research, finance, and services, to collectively boost the digital transformation of resource-based cities [4]. - Experts provided in-depth discussions on key policies and industry practices, offering clear guidance for enterprises on their transformation journey [4].

2月3日，A股茅台高开，一度涨超3%。在消息面上，1499元飞天上线i茅台已满月，i茅台披露关键数据。 数据显示，过去1个月，i茅台新增用户628万，月活用户超1531万。随着飞天53%vol 500ml贵州茅台酒及其往年 酒、53%vol 500ml贵州茅台酒（丙午马年）、53%vol 500ml贵州茅台酒（鼓乐飞天）、53%vol 500ml陈年贵州 茅台酒（15）等产品陆续上架， 超过145万人购买到了自己心仪的产品，成交订单超212万笔，其中飞天53%vol 500ml贵州茅台酒的成交订单超143万笔。 根据前3天每人每日限购1—12瓶、后28天1—6瓶的规则（注：1月4日后调整购买规则，每人每日购买上限由12 瓶调整为6瓶），可粗略推算出该产品单月销量约在143万—942万瓶之间。 这是i茅台自1月1日焕新改版以来，第3次披露用户成交数据。 据i茅台1月3日披露数据，元旦假期3天超10万名 用户购得产品。1月9日公布的数据显示，i茅台9天新增用户超270万，成交用户超40万。 | 今开 | 1445.00 | | 最高 | 1476.81 | | 成交量 | 4.38万手 | | --- | --- ...

由专业品牌评价机构Asiabrand、亚洲数字发展银行发起主办,中国亚洲经济发展协会、"一带一路"总商 会、东盟—中国工商总会等联合主办的"第20届亚洲品牌盛典"近日举行。 其中,"一带一路"经贸合作成果是本届品牌盛典"年度经济人物"评价的重要方向。 迪拜达马克集团副总裁郭建成,凭借在"一带一路"框架引领下推动取得的多项跨国经贸合作成果,尤其在 促进中阿地产合作、促进服务贸易出口、推动高端品牌合作、中国新质生产力出海等方面的不懈努力和 卓越成果,获评"2025年度经济人物---一带一路国际创新贡献奖",以表彰其在中国与中东地区商业合作上 的持续贡献。 泰国前副总 理王鹏狄亲自为郭建成先生颁发荣誉证书。 郭建成历任迪拜伊玛尔地产集团副总裁、沙特达兰卡地产集团全球副总裁等职,在中东地产及跨国投资 行业具有广泛知名度和影响力,他参与促成与中国数十家央国企基础设施和工程建设企业在中东市场的 落地拓展,推动迪拜伊玛尔与中国工商银行战略合作、促成与纵横百富集团、多弗国际控股等集团达成 战略合作、参与中国新零售及移动出行业务的投资、2023年出席"一带一路"企业家大会,并接受《焦点 访谈》及《新华社》采访。多年负责横跨中国 ...

韩国产业通商资源部周二表示，政府今年将提供 240 亿韩元（约合 1650 万美元）用于支持旨在提升韩 国纺织和服装产业全球竞争力的项目。 该部门表示，这笔资金总额中，将有 38.5 亿韩元用于提供出口支持以及资助高附加值纺织材料的生 产。 另外还将投入 46 亿韩元用于打造全球性的韩国时尚品牌项目，以及 81.6 亿韩元用于该行业的数字化转 型。 韩国产业通商资源部周二表示，政府今年将提供 240 亿韩元（约合 1650 万美元）用于支持旨在提升韩 国纺织和服装产业全球竞争力的项目。 该部门表示，这笔资金总额中，将有 38.5 亿韩元用于提供出口支持以及资助高附加值纺织材料的生 产。 另外还将投入 46 亿韩元用于打造全球性的韩国时尚品牌项目，以及 81.6 亿韩元用于该行业的数字化转 型。 韩国产业通商资源部表示，将支持韩国时尚产业为扩大其在全球的影响力所做的努力。 责任编辑：于健 SF069 韩国产业通商资源部表示，将支持韩国时尚产业为扩大其在全球的影响力所做的努力。 责任编辑：于健 SF069 ...

国泰海通证券认为，展望2026年，有望看到AI应用从可用到好用，与多元化商业模式落地，AI应 用有望成为2026年AI产业行情核心主线，看好持续加码资本开支且产品成熟度高的互联网平台公司以 及深耕垂直领域产品化落地的医疗、金融、教育等领域应用公司。 资料显示，创业板软件ETF富国（159107）跟踪的创业板软件指数，精选50只创业板软件核心标 的，覆盖基础软件、应用软件、IT服务全链条，自带20CM高弹性属性。在AI赋能、数字化转型政策推 动下，成分企业业绩弹性与估值潜力值得期待嗯， 每日经济新闻 （责任编辑：董萍萍 ） 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com 2月3日早盘，A股迎来普遍反弹，超4600只个股飘红。CPO、AI应用端、存储、商业航天等多个概 念活跃。 相关ETF中，创业板软件ETF富国（159107）早盘高开震荡，最高涨逾2.5%，截至10点23分，涨幅 为1.76%。成分股来看， ...

Core Viewpoint - Dongpeng Beverage has successfully completed its IPO on the Hong Kong Stock Exchange, marking it as the largest IPO in the Asian beverage sector in recent years, with a market capitalization exceeding HKD 139 billion, indicating strong market recognition of its strategic shift and penetration into lower-tier markets [3][11]. Group 1: Company Strategy and Market Position - Dongpeng Beverage transitioned from being perceived as a copycat of Red Bull to a market leader by targeting the underserved lower-tier market, particularly focusing on truck drivers and manufacturing workers who require energy drinks but are deterred by higher prices [4][5]. - The company has seen significant revenue growth, with projections indicating an increase from CNY 28 billion in 2017 to CNY 158 billion by 2024, alongside a net profit of CNY 33 billion and a gross margin exceeding 70% [5][6]. - Dongpeng's product strategy has evolved from relying on a single product to a multi-category approach, introducing six new product lines alongside its flagship Dongpeng Special Drink, which is crucial for sustaining long-term capital value [6][7]. Group 2: Financial Performance and Projections - The company anticipates entering the "200 billion club" in 2025, with projected revenues between CNY 207.6 billion and CNY 211.2 billion, reflecting a year-on-year growth of 31.07% to 33.34%, and a net profit forecast of CNY 43.4 billion to CNY 45.9 billion, marking a growth of 30.46% to 37.97% [8][10]. - Dongpeng's new product "Dongpeng Supplement" has quickly become the leading brand in China's electrolyte drink market, achieving sales of CNY 14.93 billion in the first half of 2025, which is equivalent to its total sales for 2024 [6][8]. Group 3: Market Dynamics and Competitive Landscape - The IPO comes at a pivotal moment for the Chinese functional beverage industry, which is undergoing a transformation towards health and scene-based consumption, necessitating both Dongpeng and Red Bull to adapt to these changes [11][12]. - Dongpeng's dual listing strategy aims to leverage both A-share and H-share markets to enhance capital operations, allowing for resource synergy and risk hedging, which is expected to facilitate its expansion into international markets [9][10]. - The competitive landscape is intensifying, with Dongpeng facing pressures from both international brands and local competitors, necessitating a focus on innovation and product diversification to maintain its market position [12].

绿色低碳是做强的底色，在"双碳"目标下，企业需加快低VOCs产品研发，推进节能降碳改造，做好固 废资源化利用，把绿色发展转化为成本优势和品牌优势。另外，安全与智能也是做强的保障。近年来， 荆门石化一方面落实本质安全要求，强化"三基"固本培元，狠抓专业"5S"管理提升与KPI指标分解，持 续完善工艺、设备平稳性体系，筑牢安全生产底线；另一方面加快数字化转型，布局智能控制系统、数 字孪生等技术，提升生产效率和精细化管理水平。2025年年底，新的物料管理APP与企业资源计划ERP 并轨运行，融合物联网、大数据技术，实现了基层操作数据自动采集感知、生产动态一屏实时掌控，大 幅提升了物料管控精准度、生产调度协同性和运营决策时效性，让精细化管理要求与本质安全底线在数 字化场景中落地见效，为企业生产经营提质增效筑牢了根基。 作者：荆门石化特油部 王准 近年来，炼化行业同质化竞争加剧，不少企业利润缩水，在亏损边缘徘徊。如何打破"内卷"困局?唯有 以"特"塑优势、以"强"固根基，才能突破同质化竞争，提升核心创效能力，实现高质量发展。 做特，核心是找准差异化赛道，在细分领域锻造不可替代的特色优势。荆门石化面对成品油市场的激烈 竞 ...

记者深入井下，亲身感受建设者利用科技手段"破岩穿层"。他们将物联网、AI智能、数字孪生等前沿技 术融入矿山施工，推动传统矿山施工向数字化、智能化转型。同时，建设者致力于打造一个地下的绿色 循环系统，通过先进的采矿与充填工艺，未来将实现废料就地回填、废水循环利用，达成资源开采的绿 色闭环。 记者：姜兆臣 新华社音视频部制作 新春之际，记者深入到全国最大单体地下铁矿——鞍钢西鞍山铁矿进行探秘。 正在建设中的西鞍山铁矿地质条件复杂，复式褶皱、挤压破碎带与含水层交织叠加，冬季严寒更给施工 增添多重考验。 ...