来源：EBoversea ◆维持"买入"评级，目标价3.85港元 ◆上半年原材料价格走势令毛利率仍处于低位 公司1H18营业收入同比增长16.9%至33.3亿元人民币。而期内主要原材料马口铁（采购均价同比上升8.6%）与塑胶粒 子价格震荡上升，铝材价格较同期依然维持高位，令整体毛利率处在15.0%低位，同比下降了2个百分点。期内公司费 用控制卓有成效，销售及管理费用率均有下降。本期归母净利润同比下降14.8%至1.43亿元人民币，中期每股EPS为 0.12元人民币，中期股息每股6.8港仙。 ◆核心产品品类均取得稳健增长 马口铁包装/铝制包装/塑胶包装期内收入同比增速分别达13.1%、23.2%、14.6%，其中马口铁包装销售收入占比达 53.7%，期内1）钢桶业务同比增长27.1%，主要受益于与核心客户的供销联动及新产能（广州、嘉兴）释放；2）三片 罐、方圆罐业务通过加强跟进核心客户需求，期内收入同比增长29.3%/27.0%。铝制包装1）两片罐上半年浙江纪鸿产 能释放，而整体产能利用率较2017年提升1.3个百分点；2）单片罐方面成功进入青岛啤酒和嘉士伯供应体系，期内销 量同比增长34.1%。而塑胶包装方面 ...

仲裁是国际通行的商事纠纷解决机制。近年来，各地司法行政机关、仲裁机构和广大仲裁从业人员认真 贯彻落实党中央关于仲裁工作的决策部署，扎实推进国际商事仲裁中心建设，切实加强涉外仲裁人才培 养，深入开展仲裁国际交流合作，发挥仲裁在多元化纠纷解决机制中的作用，仲裁事业进入蓬勃发展新 时期，我国仲裁的整体实力、国际影响力全面提升。 司法部有关负责人表示，将会同有关部门、单位扎实做好新修订仲裁法的贯彻实施，完整准确全面做好 法律宣传解读，落实好法律相关要求，推动各项配套规定尽早出台实施，促进仲裁事业健康快速发展。 与此同时，我国加快完善仲裁法律制度。今年9月12日，十四届全国人大常委会第十七次会议表决通过 新修订的《中华人民共和国仲裁法》，从完善涉外仲裁制度，提高仲裁公信力，推进中国特色仲裁制度 创新等方面做出一系列制度性安排。着力健全完善具有中国特色、与国际通行规则相融通的仲裁法律制 度，标志着我国仲裁制度建设和仲裁事业发展进入了新的阶段。 新华社北京9月29日电（记者齐琪）记者29日从司法部获悉，截至2025年8月底，全国依法设立285家仲 裁委员会，累计办理仲裁案件500多万件，涉案标的额九万多亿元，申请仲裁的当事 ...

9月29日，江苏博迁新材料股份有限公司（以下简称"博迁新材"）及子公司宁波广新进出口有限公司（以下简称"广新进出口"）与 某公司（以下简称"X公司"）签署了《战略合作协议书》。根据协议，博迁新材及广新进出口自2025年8月起至2029年12月31日间 预计向X公司销售5420~6495吨符合双方约定规格的镍粉产品。如按照预计数量、公司目前产品售价及汇率估算，协议销售金额约 为43亿~50亿元。 博迁新材需确保生产的产品质量符合X公司要求的产品规格，各方已就产品质量共同确认产品规格标准。如产品未能达到上述标 准，相关产品将予以更换或维修。本次合作期限自2025年9月1日起至2029年12月31日止。合作期间，若发生的人力不可抗拒且不 可克服的事故如战争、自然灾害等致使交货延期或不能交货，双方都对此不负责任。受影响方应在上述事故发生后立即电告另一 方，并在双方同意后顺延相应交货时间。如不可抗力情形持续超过30天的，受影响的一方有权利取消本合同包括采购订单。 协议的签署及履行均适用《联合国国际货物销售合同公约》，该公约未约定的，适用新加坡法律。凡因本协议引起或与本协议有 关的任何争议，由双方友好协商解决，协商不成的 ...

新华财经北京9月16日电（记者邹多为）仲裁制度是我国的基本法律制度，是涉外法治的重要组成部 分。中国国际经济贸易仲裁委员会16日发布的《中国国际商事仲裁年度报告（2024-2025）》显示， 2024年，全国283家仲裁机构共受理案件76.78万件，同比增长26.4%；全国仲裁案件标的总额为1.21万 亿元，已连续两年突破万亿元，比上一年增长4.5%。 《中国国际商事仲裁年度报告（2024-2025）》由中国国际经济贸易仲裁委员会委托中国人民大学组成 课题组编写。报告采用实证分析与理论研究相结合的方法，在全面分析2024年中国国际商事仲裁案件数 据的基础上，同步跟踪中国国际商事仲裁中心建设、商事仲裁国际交流和国内外商事仲裁理论研究的新 动态，持续探讨中国国际商事仲裁司法审查中的焦点问题。 此外，报告还详尽梳理了民法典颁布五年以来在仲裁领域的适用情况，比较分析了不同仲裁机构关于多 合同仲裁、追加当事人、合并仲裁等复杂架构仲裁的实践，并重点研究了近年来仲裁机构受案量最多的 建设工程争议中的热点问题。 "仲裁作为国际通行的经贸投资争议解决方式，已成为各国优化营商环境、提升法治软实力的重要手 段。"中国国际经济贸易仲 ...

Core Viewpoint - REGENBiotech, a subsidiary of Aimeike, is currently under a temporary arbitration decision that restricts its ability to sell a specific facial filler product in mainland China and recognizes a local distributor as the exclusive seller [2][3]. Group 1: Arbitration Decision - The Shenzhen International Arbitration Court issued a decision that prohibits REGEN from independently selling the "AestheFill" product in mainland China until the arbitration case is resolved [2]. - The decision confirms that Datou Medical is the exclusive distributor of the product in mainland China and mandates REGEN to continue supplying the product to Datou Medical as per their agreement [2]. - REGEN is not allowed to authorize any third party to sell the product in mainland China and must not provide the product to anyone other than Datou Medical for sales requests [2]. Group 2: Legal Response - Aimeike and REGEN are taking the arbitration matter seriously and have engaged a professional legal team to respond to the situation [3]. - REGEN intends to take all necessary legal actions to modify, suspend, or revoke the temporary measures outlined in the arbitration decision [3]. - The decision is a procedural matter and does not affect the final outcome of the case, which will be determined by the arbitration tribunal [3].

第二章 仲裁机构、仲裁员和仲裁协会 第三章 仲裁协议 第四章 仲裁程序 新华社北京9月12日电 中华人民共和国仲裁法 （1994年8月31日第八届全国人民代表大会常务委员会第九次会议通过 根据2009年8月27日第十一 届全国人民代表大会常务委员会第十次会议《关于修改部分法律的决定》第一次修正 根据2017年9月1 日第十二届全国人民代表大会常务委员会第二十九次会议《关于修改〈中华人民共和国法官法〉等八部 法律的决定》第二次修正 2025年9月12日第十四届全国人民代表大会常务委员会第十七次会议修订） 目录 第一章 总则 第一节 申请和受理 第二节 仲裁庭的组成 第三节 开庭和裁决 第五章 申请撤销裁决 第六章 执行 第七章 涉外仲裁的特别规定 第八章 附则 第一章 总则 第一条 为了保证公正、及时仲裁经济纠纷，保护当事人的合法权益，保障社会主义市场经济健康 发展，制定本法。 第二条 仲裁事业的发展贯彻落实中国共产党和国家的路线方针政策、决策部署，服务国家高质量 发展和高水平对外开放，营造市场化、法治化、国际化营商环境，发挥化解经济纠纷的作用。 第三条 平等主体的自然人、法人、非法人组织之间发生的合同纠纷和其 ...

Group 1: Legal and Judicial Developments - The "14th Five-Year Plan" period has seen significant advancements in the construction of a rule-of-law China, with a focus on high-quality legislation to support high-quality development [5][6] - A total of 36 new laws were enacted, 63 laws were amended, and 35 decisions on major legal issues were made from 2021 to the present [5] - The number of effective laws in China currently stands at 306, with over 14,000 local regulations in place [4][5] Group 2: Judicial Efficiency and Case Management - During the "14th Five-Year Plan," national courts accepted a cumulative total of 189.74 million cases, with a significant increase in case quality and efficiency [8] - The first-instance conviction rate for criminal cases reached 98.03%, indicating a high level of judicial effectiveness [3][8] - The number of cases handled by the courts has increased by 41.5% compared to 2020, with 46.02 million cases filed in 2024 alone [3][8] Group 3: Environmental and Social Justice - The prosecution of ecological and environmental public interest litigation has seen 348,000 cases handled, with 90% being administrative public interest lawsuits [7] - The People's Mediation Committees have resolved over 79 million disputes with a success rate exceeding 95% during the "14th Five-Year Plan" [10] - The arbitration sector has processed 2.27 million cases, with a total value exceeding 4 trillion yuan, highlighting its role in economic dispute resolution [11] Group 4: Future Legal Framework and Reforms - A new round of planning for the construction of a rule-of-law China is underway, focusing on enhancing the judicial system and ensuring effective oversight [13] - Reforms will include the separation of trial and execution powers, as well as improvements to the judicial responsibility system [13] - The Supreme People's Court aims to address social issues such as online violence and false accusations through enhanced legal provisions [14]

Core Viewpoint - The arbitration case involving Yunnan Tourism Co., Ltd. and its wholly-owned subsidiary, Shenzhen Huasheng Cultural Tourism Design Co., Ltd., has been accepted by the arbitration institution but has not yet been heard in court [2][4]. Group 1: Arbitration Details - The arbitration amount claimed by the design institute is approximately 151,415,427.36 yuan, while the counterclaim amount from Yongzhou Xiangyuan Cultural Tourism Co., Ltd. is approximately 187,298,084.75 yuan [3][4]. - The counterclaim includes requests for the return of 100,000,000 yuan in startup funds and compensation for fund occupation fees amounting to 23,046,712.33 yuan, calculated until July 20, 2025 [5][6]. - Additional claims in the counterclaim include compensation for delays in project completion amounting to 21,833,172.42 yuan and losses due to reduced usage lifespan of indoor equipment totaling 40,418,200 yuan [6][7]. Group 2: Impact on the Company - The impact of the arbitration case on the company's current and future profits is currently indeterminate as the case has not yet been heard [3][10]. - The company will actively gather evidence for its defense and will assert its legal rights to protect the interests of the company and its shareholders [10]. - Over the past 12 months, the company and its subsidiaries have been involved in 53 litigation/arbitration cases as defendants, with a total amount involved of approximately 64.35 million yuan [11].

Group 1 - The application of digital technologies such as big data, artificial intelligence, and cloud computing in arbitration has significantly improved efficiency, reducing the average case processing time by approximately 30% [1] - The number of administrative reconsideration cases in China has surged, with 749,600 new cases recorded in 2024, nearly doubling from previous years [2] - Local governments are enhancing access to administrative reconsideration by establishing reception rooms and contact points, thereby improving the process for citizens [2] Group 2 - Legal aid initiatives have seen significant engagement, with lawyers providing over 500 legal aid cases and 4,000 legal consultations in remote areas [3] - Community legal education efforts are being emphasized, with local leaders conducting over 1,000 legal awareness sessions to help residents understand their rights [2][3] - The grassroots approach to legal services is highlighted, with local officials using relatable language and stories to make legal concepts accessible to the public [3]

Core Viewpoint - The company LanHua KeChuang (600123) is facing operational challenges due to the suspension of production at its associate company Shanxi Yamei Danning Energy Co., Ltd. (Yamei Danning) following the expiration of its business license and production capacity announcement on May 12 [1][2] Group 1: Company Operations - Yamei Danning has ceased production, and the specific timeline for resumption is currently undetermined [1] - The company is in discussions with its partners regarding arrangements following the expiration of the cooperation agreement, which is set to end on May 12, 2025 [1] - The registered capital of Yamei Danning is $53.6 million, with LanHua KeChuang holding a 41% stake [1] Group 2: Arbitration and Legal Matters - Yamei Hong Kong has filed for arbitration with the Singapore International Arbitration Centre (SIAC) to extend the cooperation period and seek economic compensation [2][3] - The arbitration request includes confirmation that the cooperation contract's term has been extended to 30 years and demands compliance from LanHua KeChuang and JinCheng Coal Transport [3] Group 3: Financial Performance - In 2024, LanHua KeChuang reported revenues of 11.697 billion yuan, a decrease of 11.95% year-on-year, and a net profit of 718 million yuan, down 65.79% [4] - The company produced 13.8554 million tons of coal in 2024, a slight increase of 0.38%, but sales decreased by 3.22% [4] - Yamei Danning contributed 1.822 billion yuan in revenue and 511 million yuan in net profit to LanHua KeChuang, with a dividend payout of 820 million yuan [5]