根据框架协议，目前持有华贸56.7%股份的北京都煌将向公司出售华贸一定比例的股份。待公司完成对 华贸的法律、财务及业务尽职调查后，双方将协商确定具体的股权收购比例和收购价格。尽职调查期限 为自本框架协议签署之日起3个月，经双方同意可延长。此外，北京都煌给予公司自本框架协议签署之 日起十二个月的独家谈判期。 华贸定位为"是经国家工商总局批准的国内唯一一家国际性易货交易所"，致力打造全球统一市场及世界 易货贸易组织(WBTO)。平台提供交易、孵化、品牌等九大核心业务，并联手世界数字经济组织、中国 企业联合会等权威机构，以及国家市场监管总局认证中心，为企业提供数字化升级与国际拓展的全链条 服务。董事会认为，签署框架协议可能为集团带来更多商机，并使集团和北京都煌能够充分发挥各自的 优势、资源和/或专长，共同发展中国国际以物易物。此框架协议将促进集团的企业发展，符合公司及 其全体股东的最佳利益。 中国供应链产业(03708)发布公告，公司于2025年12月9日与北京都煌信息技术研究院(北京都煌)签署了 股权收购框架协议，涉及对华贸国际易货交易所有限公司(华贸)股份的潜在收购。 ...

科技赋能 文旅市场正迎来前所未有的发展机遇。在数字经济与消费升级的双重驱动下，整个产业经历着从"规模扩张"到"价值创造"的深刻转型。据 预测，2025年中国文旅市场规模将突破7万亿元，到2030年有望攀升至15万亿元，展现出巨大的增长潜力。 以下是当前文旅行业发展的八大核心趋势： 沉浸式体验打破虚实边界 AI、VR、AR技术正以前所未有的力度重塑文旅体验逻辑。 01 虚实融合成为新常态。浙江博物馆利用VR技术打造超感沉浸式体验，为市民带来"打破虚实边界"的体验。HTC《巴黎圣母院沉浸式VR体 验展》让参观者佩戴头显设备即可穿越到巴黎圣母院始建之时，亲历其变迁过程。 AI技术全面赋能旅游全流程。途家民宿推出AI空间选房和民宿房东数字人，房东只需用智能手机拍摄，AI就会自动处理生成现实民宿的 数字孪生模型。浙江与DeepSeek合作推出的"AI宣推官"，能够根据游客偏好实时规划个性化行程，实现"秒级响应、千人千面"的智能服 务。 图源：浙江博物馆 02 消费变革 情绪价值成为新货币 2025年，"情绪价值"成为文旅消费的核心驱动力，消费者对假日生活的需求正从"打卡式旅游"转向"沉浸式度假"。 "社交轻量化"与"窝 ...

Core Viewpoint - 康哲药业's 2025 mid-year performance report shows revenue and profit growth, indicating the effectiveness of its strategic transformation [1] Financial Performance - The company achieved approximately 4.0 billion RMB in revenue, a year-on-year increase of 10.8% [1] - Revenue from drug sales was about 4.67 billion RMB, up 8.9% year-on-year [1] - Net profit reached approximately 930 million RMB, reflecting a 3.1% year-on-year growth [1] Strategic Transformation - 康哲药业 has successfully moved past the challenges posed by national procurement, with a significant portion of revenue coming from exclusive/brand products and innovative products, totaling about 2.9 billion RMB, which is a 20.6% increase and accounts for 62.1% of total revenue [1] - The company has been implementing a "New 康哲" transformation strategy since 2018, focusing on product innovation, business innovation, and international expansion [1] Product Innovation - The "product innovation" strategy is a key driver of growth, utilizing a three-dimensional innovation mechanism of overseas licensing, domestic collaboration, and independent research and development [2] - Five innovative drugs have been commercialized in China, with two more expected to be approved within 2025 [2] - The innovative drug 芦可替尼乳膏 is set to be the first treatment for non-segmental vitiligo in China, filling a market gap [2] Clinical Development - The company has several promising candidates in late-stage clinical development, expected to enter commercialization in the next 1-3 years [2][3] - The injection product Y-3 has completed Phase III clinical trials and is positioned as a dual-function neuroprotective drug [3] - The oral small molecule drug ABP-671 is progressing through clinical trials and aims to provide a safer and more effective treatment for gout [3] Business Model and International Expansion - 康哲药业 is advancing its "new model" and "new region" strategies to create a multi-dimensional growth framework [4] - The company is focusing on specialized fields and expanding into new retail and media channels, establishing a comprehensive marketing system [4] - The company successfully completed a secondary listing on the Singapore Exchange, marking a significant step in its internationalization strategy [4][5] Future Outlook - The growth logic of "New 康哲" is expected to accelerate, enhancing profitability and performance resilience [5] - The company is building a growth system centered on differentiated innovation, supported by a multi-ecosystem and international layout, aiming for high-quality development and sustainable returns for shareholders [5]