习近平总书记在文化传承发展座谈会上指出，"中华优秀传统文化有很多重要元素""共同塑造出中华文 明的突出特性"，并全面系统深入地阐释了中华文明突出的连续性、创新性、统一性、包容性、和平性 所富有的深刻内涵。在全面推动长江经济带发展座谈会上，习近平总书记指出："长江造就了从巴山蜀 水到江南水乡的千年文脉，是中华民族的代表性符号和中华文明的标志性象征"。长江是中华大地的筋 脉，造就了中华民族的文脉，其丰富的水土资源、深厚的人文底蕴孕育了辉煌灿烂的长江文明。长江文 明是中华文明的重要组成部分，集中体现了中华文明的五大突出特性。深入学习贯彻习近平文化思想， 必须深入理解和把握长江文明的丰富内涵和重要价值，加强长江文明溯源研究和传播展示，加强文化资 源保护，推动文化创新发展，让中华文化展现出永久魅力和时代风采。 长江文明源远流长、绵延不绝，充分体现了中华文明突出的连续性 习近平总书记指出："中华文明从来不用单一文化代替多元文化，而是由多元文化汇聚成共同文化，化 解冲突，凝聚共识。"长江流域水网密布、支流众多，其地理跨度长、地势落差大、地形地貌差异大， 造就了通江达海的地理特质，成为连接东西、沟通南北的重要枢纽。长江开放包 ...

Core Insights - The number of IPO applications accepted by the Beijing Stock Exchange (BSE) in the first half of 2025 reached 115, with June alone accounting for 97 applications, representing over 80% of the total [1][2] - The focus of the review process is on the innovation and sustainability of the companies' performance, with over 90% of the accepted companies currently undergoing the review process [1][2] Group 1: IPO Trends - June is identified as a peak period for IPO applications due to the financial reporting submission window, with a deadline of June 30 for companies whose financial data is valid for six months [2] - The increase in applications is attributed to a backlog of projects and companies transitioning from other boards to the BSE, indicating the growing attractiveness of the BSE [2] Group 2: Review Criteria - The listing thresholds and review standards at the BSE remain unchanged, emphasizing the principle of "mature one, promote one" while focusing on innovation and preventing financial fraud [2][3] - The BSE has established specific quantitative indicators for innovation, such as a research and development (R&D) intensity of over 3% of revenue or an average R&D investment of over 10 million yuan in the last three years [2] Group 3: Company Performance and Innovation - Companies that have recently applied for IPOs or successfully passed the review have shown a strong emphasis on R&D investment [3] - For instance, companies like Aotu Co., Lain Precision, and Balanshi have consistently increased their R&D expenditures, maintaining a high ratio of R&D to revenue [3] Group 4: Inquiry Focus - The BSE's inquiries focus on companies' innovation capabilities and competitive advantages, requiring detailed explanations of their technological advancements and market positioning [4] - Companies like Senhe High-Tech and Medela have been asked to provide evidence of their technological superiority and ongoing R&D capabilities [4] Group 5: Performance Fluctuations - The BSE is also scrutinizing the reasons behind revenue fluctuations and the sustainability of business operations, as seen in the cases of Dayang Co. and Haiseng Medical [5][6] - Companies are required to justify inconsistencies in revenue and profit trends, as well as provide insights into their future performance based on current orders and market conditions [5][6]