来源：证券时报 2025年，公募基金行业交出一份"历史级"的答卷：业绩前20名的基金平均回报率高达141.87%；榜首产 品更以233.29%的惊人回报率，刷新行业单年度收益纪录。 与以往"冠军基金经理"频频刷屏、公司高调营销的景象截然不同，今年的业绩冠军却异常低调，公司宣 传也极为克制。这份静默背后，并非光芒黯淡，而是行业逻辑正在迭代。 回看近十年主动权益基金业绩榜单，一条进化脉络清晰可见：领跑者虽仍多集中于单一赛道，但从2025 年开始，这类绩优产品正被明确赋予"工具化"标签。这标志着中国主动权益基金行业，已告别过去"押 注式"的粗放增长，真正步入精细化、系统化运作的新阶段。 2025年绩优基金画像 告别明星依赖 2025年，公募基金行业投研架构升级按下加速键，"平台式、一体化、多策略"的投研体系建设全面提 速，基金经理团队制管理模式也随之在行业内落地铺开。 这一变革的成效，在2025年度业绩头部阵营中得到直观体现。2025年主动权益基金业绩排前20名的产品 中，无论是基金经理的团队构成、投资风格塑造，还是重仓行业的配置逻辑，均呈现出迥异于以往的鲜 明特征，构成了行业投研体系迭代升级的全新画像。 对比20 ...

由于施工区域属于喀斯特地貌且紧邻京广铁路，对安全精准度要求极高。中铁二十三局集团团队创新用 超前钻探，就像给地下做CT一样，必须确保桩底以下至少三倍桩径的范围内，没有影响桩基稳定的溶 沟、溶洞，做到摸清每一处地下情况再施工。 12月23日，团队完成24°试转体积累参数。正式转体时，通过光纤传感系统（8个位移传感器实时传数 据，控偏心距5-15厘米）、北斗定位等设备，搭配国际领先的转体支座与牵引系统，提前联动铁路部 门，实现桥体平稳旋转且不影响铁路运营。 转体后即开展封铰作业，后续推进边跨合拢。按计划，2026年1月20日前完成中跨合拢，1月31日前通 车，届时"耒阳新老城区5分钟通勤圈"将成型，为区域产业融合与民生改善注入动能。（杨明涛蒋境） （来源：中国改革报） 转自：中国改革报 本报讯 12月24日下午，湖南省耒阳市武园路上跨京广铁路转体立交桥，在京广铁路"天窗期"内用58分 钟完成精准转体，1.5万吨的桥体逆时针旋转68.8°，与东侧桥体实现双幅毫米级对接，标志着耒阳交通 建设迈入"精细化、智能化"新阶段。 作为耒阳市东西向的主干道，串联老城区与武广新城，该桥设双向六车道+双侧人行道设计，桥宽31.6 ...

来源：环球网 近日，石家庄地铁4号线一期工程九工区项目成功获评2025年下半年"石家庄市安全文明标准化工地"， 标志着项目在安全文明施工标准化管理方面达到行业领先水平。 | | | 2025下半年度石家庄市安全文明标准化工地名单(排名不分商后) | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | | 18:47 | 印度10 | ML. I. (A EQ. | AN VIPELERY | 明川反全身 C | 留青部 | DARCHH | 使维和位负责 A | | 11 | 图来影视剧情用的接动。据工结对推荐榜图 | MIES MENTHER MAN DE VALUE TO COL | 144 WASSE | ALER IN | 01174 118 | BU PALINE | 001-102-01-0 | | 1 | 凡都出版 60、 78、 90、 108、 138、 109、 1780 10 114, J220, M. F.T.B. A | NU A FLOCAL DE LE ALL BE SELECT PRO CO THE PER | ...

Core Viewpoint - The "Annual Excellence IR Team (Small and Medium Market Capitalization)" award recognizes outstanding investor relations (IR) teams of listed companies for their significant contributions to industry transformation and development [4]. Group 1: Award Announcement - The "Annual Excellence IR Team (Small and Medium Market Capitalization)" award was presented during the "Technology Empowerment · Capital Breakthrough" sharing session held online by Gelonghui on December 22 [1]. - Ten companies were awarded the "Annual Excellence IR Team (Small and Medium Market Capitalization)" award, including Beikang Medical-B (02170.HK), Gushengtang (02273.HK), Huitongda Network (09878.HK), Jinxin Fertility (01951.HK), Kunbo Medical-B (02216.HK), Lianlian Digital (02598.HK), Qingsi Games (06633.HK), TCL Electronics (01070.HK), Yaxin Technology (01675.HK), and Zhaoke Ophthalmology-B (06622.HK) [1]. Group 2: Evaluation Criteria - The award evaluation focused on the construction of communication channels between IR teams and investors, emphasizing the importance of long-term perspectives on companies' overall performance [4]. - The selection process involved quantitative data analysis and expert review to determine the final results [4]. Group 3: Broader Context - Gelonghui aims to create a reference value ranking of listed companies and unicorns in the investment community, covering all listed companies on the Hong Kong Stock Exchange, Shanghai Stock Exchange, Shenzhen Stock Exchange, New York Stock Exchange, and NASDAQ [4].

本次峰会，汇聚政府监管层、行业协会领袖、资深专家、权威媒体、企业掌舵人及千余位合作伙伴。福州市长乐区人民政府副区长周勇先生，中国珠宝玉 石首饰行业协会会长叶志斌先生，中华全国工商业联合会金银珠宝业商会秘书长黄滢女士，中国黄金协会监事长刘艳红女士，中国黄金报社总编辑曲辉先 生，珠宝国检集团深圳实验室党总支书记张秋生先生，福建省宝玉石协会会长王乃珠先生，长乐区人大常委会原党组成员、副主任、长乐区企业与企业家 联合会会长陈国衍先生，上海豫园珠宝时尚集团有限公司副总裁李国臣先生，中国黄金集团黄金珠宝股份有限公司副总经理金文一先生，中国珠宝首饰进 出口股份有限公司加盟管理部总经理胡猛先生等嘉宾出席现场，共同围绕黄金税收新政落地后的行业变革、挑战应对与未来机遇，展开了一场高规格、深 层次、前瞻性的思想对话与发展共商。这场峰会成为观察中国黄金珠宝产业在政策驱动下转型升级的重要窗口。 2025年12月6日，由德诚珠宝集团主办的"新政·新机·新未来"黄金珠宝行业交流峰会在福州数字中国会展中心隆重启幕。这不仅仅是一场汇集政企学研与权 威媒体的高端对话，更是德诚珠宝集团在黄金税收新政背景下，展现战略定力、行业担当与前瞻视野的关键时 ...

长兴县小 浦镇八都岕银杏古林。房小平摄 来源：中国青年报客户端 八都岕景区分布着挂牌保护的银杏古树3700多株，占长兴县古树的80%。其中，一棵被誉为"银杏皇 后"的古树就在吴南兴家旁边，曾经有一半的树枝长势不佳。吴南兴获得这棵千年古树果实的使用权 后，创意推出千年银杏果面，生意兴隆。他决定每年捐出2000元保护这棵银杏古树。 随着八都岕景区开发和新农村建设，部分银杏古树根部土壤不透气，曾出现长势衰弱的症状，长兴县 委、县政府高度重视，省、市林业主管部门精心指导，制定《小浦镇古银杏养护复壮方案》《小浦镇八 都岕古银杏养护管理措施》，积极开展养护复壮和抢救修复工作。 长兴县小浦镇社会事务办主任郑经苑介绍，八都岕景区内的"银杏王"古树高大，过去养护是使用登高车 进行人工喷洒药水，但是树顶部分枝叶还是喷洒不到，被村民们称为"秃头树"；今年采用无人机来喷洒 药水，"银杏王"老树焕发新枝叶。 目前，通过修剪、施肥、疏果、防虫等养护复壮措施，八都岕内近2000株古银杏生长状况得到明显改 善；实施排除妨碍、树体防腐、填充修补等修复处理措施，及时排查救治古银杏树121株。 长兴县还借助中国林业科学研究院亚热带林业研究所、浙江 ...

Core Insights - The article emphasizes the importance of dealer development capabilities in enhancing market penetration and channel efficiency for manufacturing companies, highlighting that over 68% of these companies face challenges in this area [1][2] - Professional training programs can significantly improve dealer development success rates, with trained companies achieving over 65% success compared to the industry average of 35% [1] Industry Overview - Dealer development training encompasses a comprehensive skill set, including market research, dealer selection, negotiation, and relationship maintenance [2] - The demand for specialized training in dealer development is increasing, leading to the emergence of various professional training institutions tailored to this need [2] Training Platforms - **NaliPX**: This leading management training platform boasts over 11,000 signed trainers and a course matrix of 120,000 management courses, with more than 500,000 trained participants [5] - **ZhiXing Channel Management Training Institute**: Focused on the fast-moving consumer goods (FMCG) sector, it has over 500 dedicated instructors, 80% of whom have experience in top FMCG companies [9] - **Qipaitong Channel Empowerment Center**: This center integrates traditional dealer development skills with digital tools, offering innovative courses on digital channel management [10] Case Studies - A well-known building materials company improved its dealer development efficiency by 42% and increased regional channel coverage from 30% to 58% after collaborating with NaliPX [7] - A new energy vehicle brand enhanced its new dealer signing success rate by 38% and reduced cooperation disputes by 60% through targeted training from NaliPX [7] Market Trends - The dealer development training market is evolving towards precision, digitization, and customization, with customized training expected to exceed 55% market share by 2025 [15] - Companies are encouraged to align their training platform choices with their specific channel characteristics, such as prioritizing vertical institutions for FMCG or national platforms for cross-regional operations [15][16]

Core Insights - The performance of the Black Friday sales event has shown signs of fatigue, with merchants experiencing growth but not meeting expectations due to various industry challenges [1][4] - Consumer shopping enthusiasm remains high, with approximately 186.9 million people participating in shopping events, but price sensitivity has increased significantly [2][4] - The promotional landscape has shifted, with longer sales periods and a more fragmented approach to marketing and sales channels [8][9] Group 1: Market Trends - The Black Friday shopping period has extended significantly, with Amazon's event lasting 12 days and Temu offering a 51-day promotion [9][10] - Consumers are increasingly viewing promotional events as opportunities for comparison shopping rather than immediate purchasing, leading to a more prolonged engagement with sales [11][20] - The competition among platforms has intensified, with Temu and TikTok Shop emerging as significant challengers to Amazon, capturing market share through aggressive pricing and marketing strategies [12][14] Group 2: Merchant Challenges - Merchants are facing rising operational costs, including a 30% increase in advertising costs, which is not translating into proportional sales conversions [4][5] - There is a notable divide between large and small sellers, with larger sellers benefiting from better resources and marketing capabilities, while smaller sellers struggle to maintain profitability [5][7] - The industry is experiencing a "stronger get stronger" dynamic, where top sellers receive more platform support and visibility, exacerbating the challenges for smaller players [7][21] Group 3: Consumer Behavior - Consumers are increasingly seeking value and are more cautious about spending, with 70% actively looking for ways to save money [2][4] - The trend of consumers checking price histories to ensure they receive genuine discounts reflects a shift towards more informed purchasing decisions [4][20] - The younger demographic in emerging markets, such as Mexico, is driving significant sales growth during promotional events, contrasting with the more saturated U.S. market [15][16] Group 4: Strategic Shifts - Merchants are diversifying their sales channels, moving away from reliance on a single platform to leverage multiple marketplaces for better reach and sales [12][15] - The focus is shifting from price competition to value creation, with brands emphasizing quality, customer experience, and long-term relationships over short-term sales spikes [20][22] - The overall trend indicates a move towards a more sustainable business model, where healthy profit margins and brand equity are prioritized over sheer sales volume [21][22]

编辑部： 近日，记者在安徽省肥西县采访时了解到，该县自2024年开始谋划并推进"城市管家"项目，将环卫保 洁、市政养护、园林绿化等7个大项17个小项工作"一揽子"打包为综合性"城市管家"服务包，实现"一次 采购、整体服务、统一监管"。项目实施以来，全县城市管理相关费用支出由2.99亿元降至1.77亿元，同 比下降40%。 此前，一些城市公共领域存在"多头采购、分散管理、标准不一"等难题。以肥西县为例，仅延乔路一条 马路，就分属不同部门管辖，环卫、园林、市政、交通……各个部门都有采购预算，请的人多费钱不 算，最后公共服务落实到这段路上，往往还要扯皮：负责打扫卫生的把地面整干净，垃圾往绿化带一扫 就算完成任务；搞绿化的则把枯枝败叶往路上一堆，剩下的便事不关己了…… 面对这一难题，需要积极贯彻中央城市工作会议提出的创新城市治理理念、模式、手段要求，整合资源 力量，打破各职能板块间边界壁垒，归并类似职能，通过统一招标推动城市管理从碎片化、单一化向一 体化、精细化转变。如肥西县，整合城乡环卫、绿化养护和市政管养三大职能，构建"4+4+1"综合管理 体系，即城区设立4个项目部统筹作业，农村划分4个协作区共享资源，市政单设 ...

Core Viewpoint - ST Shenhua is focusing on enhancing its product offerings and market presence through innovation, cost management, and strategic development, aiming for a transformation towards high-end, refined, and series products [1][2]. Group 1: Business Focus and Product Development - The company is primarily engaged in the production and sales of chemical products such as caustic soda, PVC resin, and polyether polyols, which are widely used in various industries including chemicals, metallurgy, and light industry [1]. - ST Shenhua has established a joint R&D center with Beijing University of Chemical Technology, emphasizing the development of new PVC resin products and has obtained multiple invention patents [1]. - The company aims to enhance product profitability and sales by investing in new product development, improving user experience, and establishing an excellent marketing system [1]. Group 2: Cost Management and Operational Efficiency - ST Shenhua is committed to cost control through measures such as reducing quotas, decreasing energy consumption, cutting expenses, optimizing processes, and collaborative procurement [1]. - The company is focused on solidifying its market position in PVC resin products while continuously improving product profitability [1]. Group 3: Strategic Direction and Innovation - The company plans to concentrate on its advantageous businesses and products, leveraging regional advantages and quality assets to drive strategic research and product-market layout [2]. - ST Shenhua is accelerating its digital transformation by enhancing safety management through "smart factories + intelligent HSE" and deepening the application of industrial internet platforms [2]. - The company is committed to building a customized and differentiated product matrix based on its core products, establishing a new technical marketing system that integrates research, production, sales, and logistics [2]. Group 4: Financial Management - The company maintains sufficient liquidity to manage operational cash flow fluctuations and is optimizing its financing structure to reduce interest expenses through methods such as bank acceptance bills [3].