作者：公告君 有投资者在互动平台向首华燃气提问："尊敬的董秘：1.请问贵司12月22日披露的关于控股子公司北京 中海沃邦能源投资有限公司实际收到的部分财政补助资金合计人民币1.7亿元，是否属于非经常性损 益，在年报中是否可以计入归母净利润？2.公司燃气的长协价格与期货市场的天然气（NG00Y）价格之 间的联动关系是什么？" 声明：市场有风险，投资需谨慎。本文为AI基于第三方数据生成，仅供参考，不构成个人投资建议。 针对上述提问，首华燃气回应称："尊敬的投资者，您好！该补助计入经常性损益，具体会计处理须以 会计师年度审计确认后的结果为准。公司天然气销售价格基于市场行情、供需情况等因素与和客户协商 确定，感谢您的关注！" 本文源自：市场资讯 ...

《关于控股子公司收到财政补助事项的自愿性信息披露公告》 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 截至2025年12月22日收盘，首华燃气（300483）报收于14.61元，较前一交易日上涨1.04%，最新总市值 为42.1亿元。该股当日开盘14.45元，最高14.7元，最低14.41元，成交额达7874.27万元，换手率为 1.87%。 公司近日发布公告称，其控股子公司北京中海沃邦能源投资有限公司实际收到财政补助资金合计人民币 170,000,000元。该补助与收益相关，预计对公司当期损益产生正面影响，具体会计处理以年度审计结果 为准。公司此前已于2025年12月9日披露预计可确认补助金额为181,383,630.33元，占2024年度经审计净 利润绝对值的25.51%。 最新公告列表 ...

Core Viewpoint - The implementation of free preschool education policy starting from the autumn semester of 2025 is backed by significant fiscal subsidies from the central government, indicating a shift in financial responsibility from families to the government [1][3]. Summary by Sections Policy Changes - The revised "Support for Preschool Education Development Fund Management Measures" includes a new purpose to "implement the policy of exempting childcare education fees," indicating an increase in budget allocations for preschool education [1][2]. Financial Implications - The central government's budget for preschool education development funds is set at 25 billion yuan for both 2023 and 2024, while the national fiscal education expenditure for 2023 is 5 trillion yuan, with preschool education accounting for 315 billion yuan [2][3]. - The estimated increase in national fiscal expenditure due to the exemption of childcare education fees is approximately 20 billion yuan for the upcoming autumn semester, potentially rising to 40 billion yuan for the 2025 academic year [3]. Regional Disparities - Different provinces will experience varying levels of financial support based on the number of eligible children and local fiscal conditions, with Guangdong, Shandong, and Henan being the major beneficiaries of the policy [1][9][12]. - Guangdong is identified as the largest beneficiary of the free childcare education fee policy due to its high number of enrolled children and economic development [12][13]. Family Financial Impact - The policy aims to reduce the financial burden on families, as evidenced by a parent’s experience where the monthly childcare fee decreased significantly after transitioning to a public preschool [5][6]. - Despite potential increases in public preschool fees in some regions, the overall financial support from the government is expected to outweigh these increases, leading to a net benefit for families [5][6][7]. Government Responsibility - The shift from family financial responsibility to government funding is characterized as a "reduction" in family education expenses and an "increase" in government responsibility [2][3][4]. - The overall increase in government funding for preschool education has outpaced the rise in family contributions, indicating a growing commitment to improving preschool education services [7][8].

Core Viewpoint - The implementation of free preschool education policy will begin in the autumn semester of 2025, supported by significant fiscal subsidies from the central government [1][3]. Summary by Relevant Sections Policy Changes - The Ministry of Finance has revised the "Support for Preschool Education Development Fund Management Measures," adding the purpose of "implementing the policy of exempting childcare education fees" [3][4]. - The budget for preschool education development funds will significantly increase, with the central government covering a substantial portion of the costs [1][5]. Financial Implications - The central government's budget for preschool education development funds is set at 25 billion yuan for both 2023 and 2024, with an estimated increase in national fiscal expenditure of approximately 20 billion yuan for the upcoming autumn semester [5]. - The implementation of free education is expected to increase central fiscal support for preschool education by about 80% and national fiscal preschool education funding by approximately 13% [5]. Regional Impact - Provinces such as Guangdong, Shandong, and Henan will receive larger benefits from the policy due to their higher number of eligible children and existing financial structures [1][11]. - Guangdong is identified as the primary beneficiary of the exemption policy, with a significant number of children enrolled in preschool and higher childcare fees compared to other regions [13][14]. Family Financial Relief - The exemption of childcare fees is expected to provide substantial financial relief to families, with some parents reporting significant reductions in monthly fees [7][8]. - However, there are concerns that rising fees in public kindergartens may offset the benefits of the free education policy [7][8]. Overall Educational Funding Trends - National fiscal education funding has increased from 862 million yuan in 2013 to 315 billion yuan in 2023, indicating a growing commitment to preschool education [8][10]. - The increase in government funding has outpaced the rise in family contributions, suggesting a shift towards greater public investment in early childhood education [10].

Macro News - In July, China's export value increased by 7.2% year-on-year, with a growth rate rebounding by 1.4 percentage points compared to June [1] - Imports rose by 4.1% year-on-year, with an increase of 3.0 percentage points from the previous month [1] - The trade surplus for the month reached $98.24 billion [1] Education Funding - The Ministry of Finance has arranged for the annual childcare education subsidy funds, which will be distributed soon [2] - Local governments are being guided to develop detailed measures and standards for the subsidy based on local conditions [2] - Some regions that previously implemented preschool education funding are advised to ensure policy continuity [2] Warehousing Industry - The China Warehousing Index has maintained expansion for nine consecutive months [3] - In July, the index stood at 50.1%, a decrease of 0.9 percentage points from the previous month, indicating continued expansion but at a slower pace [5] - The warehousing sector is experiencing a generally good operational state despite weak demand due to extreme weather conditions [5]