Core Points - The Guangxi Activity Week at the China Pavilion during the 2025 Osaka Expo will take place from June 11 to 13, with the theme "Beautiful Guangxi, Green Future" [1][2] - The event will feature a series of activities categorized as "4+3+N," including an opening ceremony, exhibitions, intangible cultural heritage performances, and cultural shows, aimed at showcasing Guangxi's achievements and promoting economic and cultural exchanges globally [1][2] Group 1 - The "Encountering Unique Guangxi" section will host the "Green · Coexistence · Towards the Future" exhibition, utilizing a combination of physical and digital technologies to highlight Guangxi's natural resources, ecological environment, and cultural heritage [1][2] - Featured products will include Guangxi's traditional items such as Zhuang brocade, Ni Xing pottery, and Liu Bao tea, alongside immersive projects like digital avatars and VR experiences to attract international visitors [1][2] Group 2 - The "Understanding Opportunities in Guangxi" section will leverage the Expo platform to showcase Guangxi's specialty products and facilitate business negotiations between Chinese and Japanese enterprises, focusing on ecological, energy, and health industries [2] - The "Spreading the Beauty of Guangxi" section will employ diverse media strategies to present Guangxi's ecological charm and cultural depth, integrating modern technology with traditional heritage for an immersive experience [2]

Group 1 - The meeting emphasized the importance of accurately understanding the developmental characteristics of Zhenjiang during the "14th Five-Year Plan" period, advocating for comprehensive planning and systematic research [1] - It highlighted the need to integrate current and long-term strategies, focusing on the development of new productive forces tailored to local conditions [1] - The meeting called for the inclusion of public wisdom and grassroots experiences in planning, aiming for high-quality development through effective planning [1] Group 2 - The meeting discussed the importance of strengthening ideological and political guidance for youth, encouraging them to contribute to high-quality development in the city [2] - It stressed the need to address the urgent concerns of youth in innovation, entrepreneurship, and daily life, enhancing service levels to attract more young talents [2] - The meeting underscored the necessity of implementing safety production responsibilities and management measures to prevent major accidents, particularly in key areas [2]

Group 1 - China's GDP grew by 5.4% year-on-year in Q1, surpassing last year's growth of 5% and Q1's 5.3%, indicating a steady recovery and strong resilience in the face of global uncertainties [1][2] - The total import and export value reached 10.3 trillion yuan, with trade with Belt and Road countries hitting a historical high, accounting for 51.1% of foreign trade [1][2] - International organizations have raised their growth forecasts for China, reflecting a positive outlook on the country's economic prospects [2] Group 2 - China has implemented a series of policies to counteract the impacts of tariff wars, including enhanced support for consumption and the real estate market [2][3] - The country continues to open its doors to the world, hosting various international forums and attracting foreign investment, showcasing its commitment to global cooperation [2][3] - China's exports of wind and solar products have reached over 200 countries and regions, playing a significant role in the global green transition [2]

Group 1: Central-Local Cooperation - The emphasis on strengthening central-local collaboration to promote high-quality development in Guangdong, aligning with the directives from the central government [1][4] - The call for continuous deepening of all-round cooperation to support the implementation of China's modernization practices in Guangdong [1] Group 2: Tobacco Industry - The provincial tobacco system is urged to focus on national and provincial work dynamics, enhance governance, and maintain a strong stance against counterfeiting and smuggling [1] - The importance of participating in the "Hundred Counties, Thousand Towns, and Ten Thousand Villages High-Quality Development Project" to contribute to Guangdong's economic and social development [1] Group 3: Taxation and Financial Support - The provincial tax authorities are encouraged to organize tax revenue scientifically and provide efficient tax services to support businesses [1][3] - The need for financial institutions to increase support for production enterprises, especially foreign trade companies, and major projects to stabilize foreign trade and promote consumption [3] Group 4: Foreign Trade and Customs - Guangdong's role as a major foreign trade province is highlighted, with a focus on improving customs efficiency and supporting foreign trade enterprises [2] - The call for enhancing data research and application to better support the development of new open platforms [2] Group 5: Financial Regulation and Risk Management - The central financial regulatory bodies are encouraged to enhance guidance and support for Guangdong's economic recovery and growth [3] - The importance of preventing systemic financial risks through improved regulatory effectiveness and collaboration between central and local authorities [3]

"超长待机"的账期再叠加不断压价，会恶化产业链"连环欠"，加剧中小企业现金流的脆弱性，社会资金 流动不畅，也影响财政货币等逆周期调节政策的传导效果。近些年国内一些快速崛起的企业尽管处在扩 张上升期，但从大到强还有很长一段路要走。强的表现是多维的，不仅仅是产品强，也包括对行业生 态、商业秩序的积极引领。 "有形之手"通过定规范、通堵点可以进一步优化营商环境，保障中小企业合法权益，让企业能够心无旁 骛抓生产、寻商机。国务院公布修订后的《保障中小企业款项支付条例》将于6月1日起施行。《条例》 坚持问题导向，规范支付行为，完善监督管理机制，明确机关、事业单位、大型企业不得强制中小企业 接受商业汇票、应收账款电子凭证等非现金支付方式。相信随着《条例》的正式施行，以及处于产业链 强势地位的大企业主动担当作为，社会资金流动会更活跃，中小企业生产经营也会更有保障。 东莞以制造业立市，当你走在一个不起眼的街道时，不要被两边略显陈旧的大门和厂房所"迷惑"，一条 不到两公里长的马路，可能挨着三四家年收入十几亿甚至几十亿元的上市公司。这里是中国制造业进化 升级的缩影，也是观察中国出口韧性的重要窗口。 本次走访企业的时间点很"凑巧"， ...

晋能控股长治公司中能煤业围绕企业全局性会议要求，积极应对煤炭市场下行压力，通过强化安全责 任、优化生产布局、深化精益管理、激活创新动能，推动内涵式高质量发展迈上新台阶。 安全为基：责任穿透强担当，防线筑牢保安全 该公司以创新破解发展瓶颈，目前已完成小改小革40余项。5月启动的重点岗位精准化专项培训，通过 VR模拟、案例教学等方式提升员工实操能力，建立"理论+实践"双考核机制，未达标人员"回炉再造"， 打造专业化队伍。综掘二队更以月进尺312米刷新纪录，通过工艺流程优化、设备改造与班组激励，实 现效率与安全双提升。 安全是煤矿发展的生命线。该公司始终将安全视为不可逾越的红线，以"136"管理模式为抓手，构建多 维度防控体系，依托矿微信公众号、广播等载体，动态宣贯上级会议精神，强化"事故可防可控"理念。 党建引领：清风护航守底线，文化聚力启新程 常态化开展事故案例"1+N"警示教育、"惊险事件"共享分析，压实三级安全责任。此外，该公司聚焦源 头管控，专项检查安字一号文件落实、标准化工程项目推进及入井工具佩戴情况，以"规程措施至上"意 识筑牢防线。2305充填开采工程、1309工作面过断层等重点任务的安全高效推进， ...

Core Viewpoint - The company is focusing on high-quality development amidst increasing market competition and is preparing for a significant transformation in the industry [1] Group 1: Business Strategy and Goals - The company aims for steady revenue growth in 2025, emphasizing a theme of "gathering strength to tackle challenges and refining efforts for stable growth" [1] - The management highlighted the ongoing transition in the industry from extensive to refined operations, and from quantity to quality, indicating an impending phase of intense competition and accelerated differentiation among companies [1] Group 2: Product and Market Adaptation - The company has fully revamped its five major products starting in 2023 and is selling some premium aged products through online platforms [1] - Due to the trend of lower alcohol consumption in the market, the revenue share of the lower-alcohol version of Guojiao 1573 has been increasing, currently approaching 50% [1] Group 3: Distribution and Partnerships - The management reiterated the commitment to the "customer is the team" philosophy, focusing on creating value and wealth alongside customers [2] - The company plans to continue expanding its national distribution network and will selectively add high-quality customers to its sales system to support high-quality development [2]

全省各地推动深入贯彻中央八项规定精神学习教育有序有效开展 东方市突出"深、准、实、诚"，构建多维推进体系，将学习教育纳入市委巡察，借助巡察力量强化 指导，实现基层党组织指导全覆盖;坚持开门纳谏，对标中央八项规定及其实施细则精神，通过多渠道 广泛收集基层意见，梳理形成问题清单，各级领导班子共查摆问题363个;各级党组织对问题清单分析研 判，推动即知即改，针对突出且难解决的问题制定措施深入整改，尤其是聚焦民生与发展痛点开展专项 整治，处置问题线索49件，解决群众急难愁盼问题58个;将开展学习教育与海南自贸港建设、东方市高 质量发展深度融合，推动湘琼先进制造业共建产业园加速发展，在教育、卫健、园区服务等领域创新举 措，切实提升群众获得感与市场主体满意度。 五指山市聚焦高质量发展大局和群众急难愁盼问题，坚持边学边研边查边改，紧扣接地气、顺民意 开展开门教育。目前，全市累计征求意见建议312条，为基层解决实际问题139个。创新开展服务企 业"大夜班"活动，市领导利用晚上时间推动解决成因复杂的历史遗留问题。每月一主题举办"1867沙 龙"，将本地主导产业、资源要素等涉企热门话题轮流"摆上桌面"，向各行各业广泛征求意见建议 ...

晨会纪要（2025/05/16） 宏观及策略研究 外部环境显著改善，市场机会关注择时——A 股市场投资策略周报 证 券 研 究 报 告 晨 会 纪 要 请务必阅读正文之后的声明 渤海证券股份有限公司具备证券投资咨询业务资格 1 of 4 晨会纪要（2025/05/16） 编辑人 崔健 022-28451618 SAC NO：S1150511010016 cuijian@bhzq.com 渤海证券研究所晨会纪要（2025.05.16） 1、市场回顾 近 5 个交易日（5 月 9 日-5 月 15 日），重要指数多数收涨；其中，上证综指收涨 0.86%，创业板指收涨 0.68%； 风格层面，沪深 300 收涨 1.41%，中证 500 收跌 1.01%。成交量方面有所缩量，两市统计区间内成交 6.26 万亿元，日均成交额达到 1.25 万亿元，较前三个交易日的日均成交额减少 1137.47 亿元。行业方面，申万一 级行业涨多跌少，其中，美容护理、银行、非银金融行业涨幅居前，而计算机、电子、国防军工行业跌幅 居前。 2、数据方面 2025 年 4 月社融同比多增超 1.2 万亿元，其中政府债券融资是主要支撑项，与 ...

值得一提的是，新国展二期项目完成全部验收工作。项目位于顺义区新国展一期北侧，京密路西 侧，总投资约为137亿元，建设规模约61.1万平方米，建设内容包括展览中心、会议中心及配套设施， 目前已完成全部验收工作。项目是贯彻落实首都"四个中心"功能定位，促进国际交往中心功能建设的重 要平台和载体。项目建成后，将是北京市单体规模最大、功能最完善、技术最先进的综合型会展场馆， 是未来首都大型展览活动的主要承接地，为服务首都经济高质量发展贡献力量。 此外，一批项目也取得新进展。例如，小米智能制造产业基地二期项目1号厂房规划验收完成，目 前车间主体工程已全面竣工；承平高速公路（北京段）工程，已实现全面进地施工，桥梁、隧道等关键 节点工程顺利推进。京平高速改扩建工程，路基及桥梁工程进度过半，中分带改造全部完成，项目整体 进展有序可控。市郊铁路城市副中心线整体提升工程（北京西至良乡段），新建房山东站便线拨线顺利 完成，为后续桥梁主体结构施工创造了条件。 昨天，北京青年报记者从市发改委获悉，北京市持续推进"3个100"市重点工程项目建设，为首都高 质量发展注入强劲动力。4月份，北京市重点工程建设再提速。科技创新、基础设施、民生保 ...