为贯彻国家决策部署，作为湖南省属国有券商的财信证券第一时间成立了由党委书记、董事长担任组长 的"五篇大文章"工作领导小组，并分设五个专项工作专班，由相应业务条线的公司分管领导任组长，全 面推动科技金融、绿色金融、普惠金融、养老金融和数字金融等重点领域的创新落地。 从专精特新企业忙碌的生产线，到绿水青山的田野乡间，再到奔涌而来的数字浪潮，财信证券以扎实的 行动将宏大战略叙事落实在每一次企业服务、每一单绿色债券、每一个数字化应用场景中，在湖湘大地 上书写金融与中国式现代化同频共振的实践篇章。 科技金融滴灌创新种子 在湖南嘉盛德材料科技股份有限公司（简称"嘉盛德"）宁夏基地，生产线一片繁忙。这家来自岳阳湘阴 的国家级专精特新"小巨人"企业，是国内微电子级特种环氧树脂领域的领先者之一。2025年3月，在财 信证券辅导下，该企业通过新三板"绿色通道"快速转板，从湖南股交所专精特新专板到新三板，用时不 足一年。 短期内实现资本市场"连跳"，嘉盛德并非个例。来自湖南长沙的迪亚环境，同样在财信证券陪伴下，先 于2022年挂牌区域股权市场，后在2023年迅速过审新三板，同年定向融资1200万元跻身创新层，目前正 向北交所上市冲 ...

为了让人工智能未来深度参与企业经营，中国企业目前正加快全要素、全过程的数字化转型。26%的中 国首席执行官将推进业务数字化、互联化转型作为未来3年企业的首要战略举措，这一占比高于全球平 均水平的18%。 中证报中证网讯(记者倪铭娅)毕马威日前发布的《2025全球首席执行官展望》显示，88%的中国首席执 行官对未来三年中国经济发展有信心，这一比例较去年大幅提升17个百分点，并创近年新高。 这是毕马威第11次发布《全球首席执行官展望》，报告基于2025年8月5日至9月10日期间对1350名首席 执行官进行的调查。 毕马威中国主席邹俊表示，中国经济在重重考验中稳步向前，特别是一系列增量政策的落地实施有效提 振了社会预期。在调查中，高达88%的中国首席执行官对未来三年的中国经济发展有信心，占比较去年 大幅提升。 根据报告，近四分之三(71%)的首席执行官将人工智能列为2026年的重点投资领域，其中69%的受访者 计划在未来一年内将10%至20%的预算投入该领域。 报告显示，随着人工智能应用价值初步兑现，全球范围内预期人工智能投资回报期在三年之内的首席执 行官达到67%，中国这一占比从去年的18%大幅提升至86%。其中 ...

全球各地首席执行官们正加倍投入人工智能与技术创新。毕马威近日发布的《2025全球首席执行官展 望》显示，通过对全球1300多位首席执行官进行年度调查发现，近四分之三(71%)的首席执行官将人工 智能列为2026年的重点投资领域，其中69%的受访者计划在未来一年内将10%至20%的预算投入该领 域。 以人为本的人工智能是重点部署方向 为了让人工智能未来深度参与企业经营，中国企业目前或正在加快全要素、全过程的数字化转型。调查 数据显示，26%的中国首席执行官将推进业务数字化、互联化转型作为未来3年企业的首要战略举措， 这一占比高于全球平均水平的18%。 在人工智能投资回报上，调查数据显示，全球范围内预期人工智能投资回报期在三年之内的首席执行官 达到67%。中国这一占比从去年的18%大幅提升至86%，其中，更有20%的首席执行官认为，不到一年 就能看到实施人工智能的投资回报。 人工智能在全球的加速普及，也给技术治理带来了新的挑战。调查数据显示，首席执行官们对其伦理影 响(59%)、数据准备度(52%)及监管缺失(50%)等关键问题深表忧虑。不过，一个明确的共识也正在形 成：健全的治理框架将是人工智能稳健、可持续发展 ...

Core Viewpoint - The article discusses the effectiveness of the "Two New" policy, which includes a total issuance of 1.3 trillion yuan in long-term special government bonds to support consumption upgrades and equipment renewal, highlighting significant growth in related industries and consumer spending [3][4]. Group 1: Consumer Spending and Industry Growth - The 300 billion yuan allocated for consumer goods replacement has been fully distributed, with 231 billion yuan utilized in the first three quarters of the year, primarily benefiting the home appliance, furniture, and automotive sectors [3]. - Retail sales in the home appliance sector, such as refrigerators and televisions, saw year-on-year increases of 48.3% and 26.8%, respectively, while furniture and lighting retail sales grew by 33.2% and 17.2% [3]. - The sales of smart home products, particularly service robots like vacuum cleaners, surged by 75%, indicating a strong consumer shift towards advanced technology [3]. Group 2: New Energy Vehicles - New energy vehicle sales experienced a year-on-year growth of 30.1% in the first three quarters, reflecting the ongoing vitality of China's new energy vehicle industry, significantly driven by the vehicle replacement policy [4]. Group 3: Equipment Renewal and Industrial Upgrades - The 200 billion yuan designated for enterprise equipment renewal has led to increased investment in machinery, with industrial enterprises' machinery procurement rising by 9.4% year-on-year [5]. - High-tech manufacturing saw a notable increase in machinery purchases, with a year-on-year growth of 14%, while the power and utilities sector's machinery procurement grew by 10.5% [5]. Group 4: Digital Transformation and Private Sector Growth - The information and technology sectors have ramped up their investment in equipment, with machinery procurement in these areas increasing by 26.8% and 32.5% year-on-year, respectively [6]. - Nationwide, the procurement of digital equipment rose by 18.6%, underscoring the importance of digital transformation for enterprises [6]. - Private enterprises demonstrated a significant role in equipment renewal, with machinery procurement increasing by 13% year-on-year, outpacing state-owned and foreign enterprises [6].

Core Insights - The latest data from the National Taxation Administration indicates a significant acceleration in equipment updates and the effectiveness of the "old-for-new" consumption policy in China, particularly in the first three quarters of 2025 [1][2] Group 1: Equipment Procurement Trends - In the first three quarters of this year, the amount spent by industrial enterprises on machinery and equipment increased by 9.4% year-on-year [1] - High-tech manufacturing maintained a strong growth momentum, with machinery and equipment procurement rising by 14% [1] - The electricity, heat, gas, and water production and supply sectors saw a 10.5% increase in machinery and equipment procurement [1] - The information transmission, software, and IT services sectors experienced significant growth, with procurement amounts increasing by 26.8% and 32.5% respectively [1] Group 2: Digital Equipment Investment - Nationally, the procurement of digital equipment by enterprises grew by 18.6% year-on-year, indicating a strong push towards digital transformation [1][2] - High-end manufacturing sectors, such as shipbuilding and computing, reported year-on-year increases in digital equipment procurement of 17.3% and 22.7% respectively [1] Group 3: Role of Private Enterprises - Private enterprises showed a more pronounced role in equipment updates, with machinery and equipment procurement increasing by 13% year-on-year, surpassing state-owned and foreign enterprises [2] - In innovative sectors, private enterprises in the internet and smart drone industries saw procurement increases of 32.8% and 70.5% respectively [2] Group 4: Impact of "Old-for-New" Policy - The "old-for-new" policy has significantly boosted retail sales in various sectors, with home appliance sales such as refrigerators and televisions increasing by 48.3% and 26.8% year-on-year [2] - Retail sales in furniture and lighting also saw substantial growth, with increases of 33.2% and 17.2% respectively, particularly in smart home products like robotic vacuum cleaners, which grew by 75% [2] - The newly expanded scope of the policy also led to a 19.9% increase in retail sales of mobile communication devices [2]

央视网消息：国家税务总局发布的最新数据显示，随着大规模设备更新和消费品以旧换新政策加力扩围，前三季度，全国企业设备更新加 快推进。 目前，消费品以旧换新政策成效明显。国家税务总局发布的最新数据显示，今年前三季度，家电和家居产品消费走高，需求稳步释放。 此外，企业数字化设备更新动力较足。今年前三季度，全国企业采购数字化设备金额同比增长18.6%，反映数字化转型成为企业重要的发 展方向。其中，一些高端制造行业加快数字化投入提升自身竞争力，船舶制造、计算机行业采购数字化设备同比分别增长17.3%和22.7%。 民营企业设备更新支撑作用也更加凸显。增值税发票数据显示，今年前三季度，民营企业采购机械设备类金额同比增长13%，均高于国有 和外资企业。一些创新类行业民营经济保持较高动力，民营企业互联网、智能无人飞行器领域采购机械设备类金额同比分别增长32.8%和 70.5%。 前三季度"以旧换新"成效明显 增值税发票数据显示，今年前三季度，工业企业采购机械设备类金额同比增长9.4%。其中，高技术制造业保持良好增长势头，采购机械 设备类金额同比增长14%；电力热力燃气及水生产和供应业采购机械设备类金额同比增长10.5%。 同 ...

Core Insights - Sichuan Province has implemented a series of policies and activities to drive consumption growth, achieving an average annual growth rate of 7.4% over the past four years, surpassing the national average by 2 percentage points, and ranking fifth in total consumption nationwide [1][3] Policy and Initiatives - Key policies include the "Three Products and One Creation" initiative to enhance consumption quality and the support for Chengdu to become an international consumption center [1] - Major events such as the China (Sichuan) International Panda Consumption Festival and the "Delicious Sichuan" dining event have been successfully held, alongside the creation of 120 new consumption scenarios [1][4] Consumer Trends - The steady increase in large-scale consumption, particularly in the replacement of old products, has been crucial, with over 13.27 billion yuan in consumption driven by the replacement of 13.19 million units of automobiles and home appliances this year [3] - The electric vehicle market has seen explosive growth, with ownership rising from 170,000 at the end of 2020 to over 1.8 million, a nearly tenfold increase [3] Service Sector Development - Legislative efforts, such as the "Sichuan Province Promotion of Sichuan Cuisine Development Regulations," have positioned Sichuan as the second province in China to legislate for a local cuisine [4] - The "Tianfu Three Famous" brand cultivation project has recognized 116 provincial famous dishes and 100 chefs, with a target for restaurant revenue to account for 14% of total retail sales by 2024, exceeding the national average by 2.4 percentage points [4] Digital Transformation - The growth of e-commerce and new retail formats, such as live streaming and instant retail, has been significant, with an average annual growth of 10.6% in online retail sales during the "14th Five-Year Plan" period [5] - Sichuan has established seven national e-commerce demonstration bases and 13 provincial new business format bases, contributing to a robust industrial ecosystem [5] Urban and Rural Consumption Coordination - The strategy of enhancing urban quality while addressing rural shortcomings has led to the establishment of over 500 commercial centers in county towns and more than 11,000 convenience stores in villages [5] - Investment of 920 million yuan has been made to support commercial construction in underdeveloped areas, improving the overall consumption network [5] Future Outlook - The focus will remain on boosting consumption as a priority for economic work, with plans to introduce more policies and activities to enrich supply and enhance quality [5]

Group 1: National Policies and Financial Support - The issuance of 1.3 trillion yuan in special long-term bonds has been completed, with 300 billion yuan allocated for consumer product trade-in programs and 200 billion yuan for equipment upgrades, indicating strong government support for these initiatives [1] - The tax authority reported that 2.31 trillion yuan of the national subsidy funds have been utilized in the first three quarters of the year, primarily benefiting the home appliance, furniture, and automotive sectors [1] Group 2: Consumer Goods and Retail Performance - Retail sales of daily household appliances, such as refrigerators and televisions, saw significant year-on-year growth of 48.3% and 26.8%, respectively, driven by the trade-in policy [1] - The furniture and lighting retail sectors also experienced robust growth, with sales increasing by 33.2% and 17.2%, respectively, while smart home products like robotic vacuum cleaners surged by 75% [1] Group 3: New Energy Vehicles and Equipment Upgrades - New energy vehicle sales increased by 30.1% year-on-year in the first three quarters, reflecting the effectiveness of the vehicle trade-in policy in stimulating automotive consumption [2] - The 200 billion yuan allocated for equipment upgrades has encouraged industries to enhance their equipment, with industrial machinery purchases rising by 9.4% [2] Group 4: Digital Transformation and Private Sector Growth - The information and technology sectors have seen significant investment in equipment upgrades, with spending on machinery rising by 26.8% and 32.5% in the first three quarters [3] - Private enterprises have played a crucial role in equipment upgrades, with their machinery purchases increasing by 13%, outpacing state-owned and foreign enterprises [3]

智通财经记者 赵阳戈 在数字化转型的浪潮中，商业大数据服务正成为连接企业与市场的重要桥梁。企查查作为这一领域的知名企业，近日正式向沪市主板递交招股书，引发市场 广泛关注。招股书显示，公司拥有超过1.5亿的累计注册用户，业务保持较高毛利率。 尽管过往财务数据表现亮眼，但企查查的新用户增长放缓与停付用户数量攀升值得注意。与此同时，IPO前夕重要股东的减持套现，以及保荐机构关联方现 身股东名单等动态，也为企查查的上市之路增添了不确定性。 毛利率升至90%，C端收入占比超七成 企查查成立于2014年3月，通过整合各级政府部门、司法机关和行业协会等公开信息，为个人和企业用户提供商事主体的信用评估、风险监测、商机挖掘和 资讯推送等服务。这些服务不仅帮助个人用户快速了解企业背景，也助力企业用户提升商业决策效率。 企查查的市场地位建立在庞大的用户基础之上。截至2025年6月末，公司累计注册用户已突破1.5亿，月活跃用户数保持在8000万以上。在业务模式上，企查 查面向个人用户的会员服务主要通过App和Web端等渠道直接销售，按服务期限收费；企业级业务则依靠自有销售团队进行推广，B端产品主要面向的是各 行业供应链、法务、财务、 ...

同时，信息、科技行业设备更新投入力度加大。今年前三季度，信息传输软件和信息技术服务业、科学研究和技术服务业采购机械设备类 金额同比分别增长26.8%和32.5%，反映新质生产力领域投入力度加大。 民营企业设备更新支撑作用也更加凸显。增值税发票数据显示，今年前三季度，民营企业采购机械设备类金额同比增长13%，均高于国有 和外资企业。一些创新类行业民营经济保持较高动力，民营企业互联网、智能无人飞行器领域采购机械设备类金额同比分别增长32.8%和 70.5%。 此外，企业数字化设备更新动力较足。今年前三季度，全国企业采购数字化设备金额同比增长18.6%，反映数字化转型成为企业重要的发 展方向。其中，一些高端制造行业加快数字化投入提升自身竞争力，船舶制造、计算机行业采购数字化设备同比分别增长17.3%和22.7%。 央视网消息：国家税务总局发布的最新数据显示，随着大规模设备更新和消费品以旧换新政策加力扩围，前三季度，全国企业设备更新加 快推进。 增值税发票数据显示，今年前三季度，工业企业采购机械设备类金额同比增长9.4%。其中，高技术制造业保持良好增长势头，采购机械 设备类金额同比增长14%；电力热力燃气及水生产和供 ...