夕阳西下，海岸线渐渐沉入夜色。派出所指挥室里，屏幕依旧亮着，数据流持续跳动。坚守在岗位 上的民警这样说：让"警察蓝"成为群众心中最安心的颜色。 初冬时节，海风微凉，浪涛轻涌。一大早，丹东东港市公安局开发区派出所民警康庆贺带上警务通 和反诈宣传单，在东兴园社区开始走访。"张大爷，最近没接到可疑电话吧？咱们推送的'反诈小课 堂'可别忘了看！"他一边和居民打招呼，一边熟练地打开手机推送防骗信息。 平安是人民幸福的生命线，更是基层治理的落脚点。"党的二十届四中全会明确提出，推进国家安 全体系和能力现代化，建设更高水平平安中国。我们基层派出所要把全会精神转化为群众可感可及的平 安守护，让他们真切感受到平安就在身边。"所长宋传南的话语朴实而坚定。 作为祖国海岸线最北端的基层所队，东港市公安局开发区派出所辖区兼具沿江、沿海、沿边属性， 人员流动频繁，治安要素复杂多元。派出所深入践行"枫桥经验"，推动警务工作从"事后处置"向"事前 守护"转型。"以前是我们'大海捞针'找警情，现在是数据替警情'说话'，预警在前、处置在先。" 民警李 百策指着电脑屏幕上的"治安态势一张图"介绍。屏幕上跳动的数据流、实时更新的预警标识，勾勒出辖 ...

Core Viewpoint - The construction of a higher-level "Safe China" is crucial for the prosperity of the nation, the well-being of the people, and the long-term stability of the country, as emphasized in the 20th Central Committee's Fourth Plenary Session and the recommendations for the 15th Five-Year Plan [1] Group 1: Historical Achievements in Safe China Construction - The concept of "Safe China" has become a significant national brand, reflecting the successful combination of rapid economic development and long-term social stability under the leadership of Xi Jinping [2] - The establishment of an overall national security concept has been a major strategic thought guiding national security work, incorporated into the basic strategy of socialism with Chinese characteristics [2] - The improvement of the security system includes the establishment of the Central National Security Commission and the implementation of a national security strategy for 2021-2025, enhancing the overall national security framework [3] Group 2: Social Stability and Security - The overall social stability has been maintained, with significant improvements in people's sense of gain, happiness, and security, as well as a focus on risk prevention in key areas such as finance and real estate [4] - The crime rate has decreased, with a 25.7% year-on-year drop in criminal cases in 2024, marking the lowest level in this century [5] - The governance of social security has improved, with a focus on comprehensive management and the establishment of a robust legal framework to deter crime [5][6] Group 3: Direction for Higher-Level Safe China Construction - The construction of a higher-level "Safe China" is integral to Chinese-style modernization, emphasizing the need for a balance between development and security [7] - The absolute leadership of the Party is deemed essential for the success of "Safe China" construction, ensuring that the advantages of the socialist system are effectively utilized [8] - A people-centered approach is emphasized, focusing on addressing the urgent needs of the populace and enhancing their sense of security [8] Group 4: Key Tasks for Safe China Construction - The recommendations highlight the need to strengthen the national security system, ensuring a unified and efficient leadership structure [11] - There is a call to enhance security capabilities in key areas, particularly in political security and the protection of critical infrastructure [12] - Public safety governance is prioritized, with a shift towards preventive measures and improved emergency response systems [13]

Core Points - The article emphasizes the importance of building a higher level of a safe China, which is crucial for national prosperity, people's well-being, and long-term stability [1][2][3] - The 20th Central Committee's Fourth Plenary Session outlines systematic deployments to enhance national security capabilities, improve public safety governance, and refine social governance systems [1][2] - Local officials express commitment to align their actions with the central government's decisions, focusing on risk prevention, social stability, and effective law enforcement [1][2][3] Summary by Sections National Security and Governance - The session highlights the modernization of the national security system and capabilities as essential for a safe China, providing direction for legal and political work in the new era [1] - Emphasis is placed on the integration of new management systems and police mechanisms to address deep-seated issues in law enforcement [1][2] Public Safety and Community Engagement - The need to enhance public safety governance is underscored, with local police focusing on community-based policing and innovative governance measures to address public concerns [1][2] - The article discusses the role of community governance centers in resolving conflicts and maintaining order, emphasizing the importance of grassroots participation [2][3] Cybersecurity and Information Protection - The session calls for comprehensive governance of cyberspace security, highlighting the critical link between national security and network safety [2] - Local authorities are encouraged to strengthen cybersecurity frameworks and promote public awareness of online safety [2] Grassroots Governance - Strengthening rural and community governance is identified as foundational for national stability, with calls for resource allocation to frontline services [3] - The article advocates for the establishment of multi-faceted dispute resolution mechanisms to address conflicts at the grassroots level [3]

Core Viewpoint - The "Suggestions for Formulating the 15th Five-Year Plan for National Economic and Social Development" aims to significantly enhance China's economic, technological, defense, and comprehensive national strength by 2035, achieving a per capita GDP at the level of moderately developed countries and improving the quality of life for its citizens [1] Group 1: Modern Industrial System - Optimize and upgrade traditional industries to enhance their global competitiveness, focusing on sectors like mining, metallurgy, and machinery [3] - Cultivate and expand emerging and future industries, emphasizing innovation in sectors such as new energy and aerospace [4] - Promote high-quality development in the service industry by enhancing service capacity and quality [5] Group 2: Infrastructure Development - Strengthen the planning and integration of modern infrastructure, focusing on new types of infrastructure and digital transformation [6] Group 3: Technological Self-Reliance - Enhance original innovation and tackle key core technology challenges in critical fields like integrated circuits and advanced materials [7][8] - Promote the deep integration of technological and industrial innovation, establishing regional innovation systems [9] - Foster education and talent development to support technological innovation [10] Group 4: Domestic Market Expansion - Stimulate consumption through targeted actions and improve public service spending to enhance consumer capacity [12] - Maintain reasonable investment growth and optimize government investment structures [13] - Remove barriers to the construction of a unified national market [14] Group 5: High-Quality Development Dynamics - Activate various business entities by promoting diverse ownership and enhancing the competitiveness of state-owned enterprises [15] - Improve the market-oriented allocation of resources across various sectors [16] - Enhance macroeconomic governance effectiveness through coordinated policies [18] Group 6: Open Economy - Expand autonomous opening-up, focusing on service sectors and high-standard trade agreements [19] - Promote trade innovation and balance in imports and exports [20] - Create favorable conditions for foreign investment and ensure transparency [21] Group 7: Rural Revitalization - Improve agricultural production capacity and quality through modern agricultural practices [23] - Enhance rural living conditions and public services [24] - Strengthen policies to support farmers and ensure effective financial input for rural development [25] Group 8: Regional Economic Layout - Promote coordinated development across different regions, focusing on the western development and revitalization of the northeast [27] - Enhance inter-regional connectivity and collaboration [28] - Optimize land use and urbanization strategies [30] Group 9: Cultural Development - Foster a vibrant cultural ecosystem and enhance cultural production capabilities [31] - Develop the cultural industry through improved management and market systems [32] - Strengthen the international influence of Chinese culture [33] Group 10: Common Prosperity - Implement strategies for high-quality employment and improve the income distribution system [34][35] - Enhance social security systems to support citizens [36] - Promote high-quality development in the real estate sector [37] Group 11: Health and Environment - Advance health initiatives to improve public health and life expectancy [38] - Promote sustainable environmental practices and energy systems [41][42] - Encourage green production and lifestyle changes [43] Group 12: National Security - Establish a robust national security framework and enhance capabilities in key areas [44][46] - Improve public safety governance and emergency response systems [47] Group 13: Defense Modernization - Accelerate the development of advanced military capabilities and modernize military governance [48][49] - Strengthen the integration of national strategic systems and capabilities [50]

Core Viewpoint - The article emphasizes the importance of national security in achieving the Chinese Dream of national rejuvenation and ensuring the well-being of the people, highlighting significant historical achievements and transformations in China's national security work under the leadership of the Communist Party of China [1] Group 1: National Security Achievements - During the "14th Five-Year Plan" period, national security has been comprehensively strengthened, and the construction of a peaceful China has reached a higher level [1] - The Third Plenary Session of the 20th Central Committee approved a decision to further deepen reforms and promote Chinese-style modernization, focusing on building a higher level of a peaceful China and enhancing the national security system [1] Group 2: Strategic Framework - The decision emphasizes the need to strengthen the integrated national strategic system, enhance the capability to maintain national security, and innovate social governance mechanisms and methods [1] - A new security pattern is to be effectively constructed to address risks and challenges on the path of development [1] Group 3: Collective Efforts - The article calls for unity among the people to build an indestructible new Great Wall of national security, overcoming all risks and challenges to seize opportunities for peaceful development [1]

Core Viewpoint - The article emphasizes the significant improvements in public safety and crime reduction in China during the "14th Five-Year Plan" period, highlighting the effectiveness of law enforcement and social governance measures [1][2][3]. Group 1: Crime Reduction and Law Enforcement - China is recognized as one of the safest countries globally, with the lowest homicide and criminal rates, and a projected 25.7% decrease in criminal cases in 2024 compared to the previous year [1]. - The national police have maintained a strong crackdown on various crimes, including organized crime, telecom fraud, and food safety violations, with 1.739 million telecom fraud cases resolved, recovering significant losses for the public [2]. - A comprehensive social security prevention system has been established, with 27 key tasks outlined to enhance the effectiveness of crime prevention and law enforcement [3]. Group 2: Public Services and Convenience - The police have launched numerous initiatives to improve public services, including a "one-stop" online service platform that integrates 308 high-frequency administrative services, providing over 37 million services [4]. - The traffic management sector has seen reforms with over 60 measures introduced to facilitate vehicle transactions, resulting in 20 million car owners completing cross-regional second-hand vehicle registrations [4]. Group 3: Support for High-Quality Development - The police are focusing on five key areas to enhance support for high-quality development, including innovation, coordination, green development, openness, and shared development [5][6]. - Specific measures include protecting intellectual property rights, promoting environmental protection, and improving border management to facilitate international cooperation and enhance the rights of citizens abroad [6].

Core Viewpoint - The National Committee of the Chinese People's Political Consultative Conference (CPPCC) held a symposium on "Improving and Innovating Social Governance," emphasizing the importance of social governance in maintaining national stability and enhancing people's livelihoods [1][2]. Group 1: Key Discussions - The meeting was attended by nearly 100 CPPCC members, who discussed the establishment of a shared social governance system and the improvement of mechanisms for preventing and resolving social conflicts [2]. - Key topics included strengthening grassroots governance, integrating self-governance, rule of law, and moral governance, and leveraging digital construction to empower social governance [2]. Group 2: Leadership and Implementation - Central Committee members highlighted the need for comprehensive leadership from the Communist Party in social governance, transforming party leadership advantages into governance effectiveness [2]. - The meeting underscored the importance of responding to public concerns and maintaining public interests, as well as enhancing the legal framework of social governance [2][3].

Group 1: Economic Development and Employment - The meeting emphasized the need to align thoughts and actions with the Central Committee's scientific judgment on the current economic situation and decision-making for economic work, focusing on stabilizing employment, enterprises, markets, and expectations to promote economic recovery [2] - It was highlighted that efforts should be made to boost consumption and expand investment, including implementing special actions to stimulate consumption and accelerating the landing of major projects [2] - The meeting called for multi-faceted support for struggling enterprises, enhancing the precision of services, and assisting industrial enterprises in product innovation and transformation [2] Group 2: Youth Employment and Entrepreneurship - The meeting stressed the importance of implementing the national and provincial requirements for youth employment and entrepreneurship, particularly for college graduates [3] - It was noted that innovation and entrepreneurship should drive employment, with a focus on optimizing the policy environment and building platforms to attract more young talent [3] - The need to improve employment guidance services and enhance training capabilities was also emphasized to help graduates find jobs more effectively [3] Group 3: Social Stability and Public Safety - The meeting underscored the importance of advancing the standardized construction of social governance centers to ensure that every public demand is addressed legally and effectively [4] - It was mentioned that preparations for the upcoming "May Day" holiday should include enhancing tourism services and ensuring public safety, with a focus on conflict resolution and social security [4] - The need for high standards in the construction of governance centers and the establishment of a one-stop service for public grievances was also highlighted [4]

Investment Rating - The report maintains a "Buy" rating for Hikvision [5][27]. Core Views - The company achieved a revenue of 92.49 billion yuan in 2024, a year-on-year increase of 3.52%, while the net profit attributable to shareholders was 11.96 billion yuan, a decrease of 15.23% [3][23]. - The recovery of macroeconomic confidence is indicated by the manufacturing PMI data, which rose to 50.2% in February, entering the expansion zone [1][10]. - The integration of multi-modal large models with smart hardware is expected to drive scalable monetization for Hikvision [2][15]. Summary by Sections Financial Performance - In 2024, the company reported a revenue of 92.49 billion yuan, with a growth rate of 3.52% [4][23]. - The net profit for 2024 was 11.96 billion yuan, reflecting a decline of 15.23% year-on-year [4][23]. - The earnings per share (EPS) for 2024 is projected to be 1.30 yuan, with a forecasted net profit of 14.54 billion yuan for 2025, representing a growth of 21.61% [4][28]. Business Development - The company is focusing on innovative business areas such as edge computing, robotics, and smart connected vehicles, with overseas business revenue exceeding 50% [3][23]. - The multi-modal large model technology is being integrated into various products, enhancing the company's competitive edge in the market [2][15]. Market Outlook - The report highlights the positive trend in the manufacturing sector, with a significant recovery in demand and production indices, which is expected to benefit Hikvision's performance [1][10]. - The company's strong position in the multi-modal large model space and its extensive user base across various industries are seen as key factors for long-term benefits in the evolving market landscape [3][27].

Core Viewpoint - The company is experiencing short-term pressure on performance, with a slight increase in revenue but a significant decline in net profit, indicating potential challenges ahead [2]. Group 1: Financial Performance - In 2024, the company achieved operating revenue of 92.486 billion yuan, representing a year-on-year growth of 3.52% [2]. - The net profit attributable to shareholders was 11.959 billion yuan, showing a year-on-year decrease of 15.23%, indicating short-term performance pressure [2]. Group 2: Macro Environment - The manufacturing PMI for February recorded at 50.2%, indicating a return to the expansion zone, with a month-on-month increase of 1.1 percentage points, driven by rapid recovery in demand post-holiday [3]. - The improvement in macro factors that previously suppressed the company's performance and valuation is becoming significant [3]. Group 3: Policy and Security - The Central Political Bureau emphasized the construction of a safer China, which is expected to accelerate security and digital governance projects, potentially benefiting the company's PBG business directly [4]. Group 4: Innovation and Technology - The company is launching a series of products based on multi-modal large models, integrating advanced technology with embedded smart hardware, aiming for broader and more efficient applications across various industries [5]. - The focus on innovative business areas such as edge computing, robotics, and smart connected vehicles is expected to catalyze growth, with overseas business now accounting for over half of total operations [6].