宁夏推动加强资金使用监管 守好乡村振兴"钱袋子" 宁夏回族自治区中卫市纪委监委紧盯乡村振兴资金使用管理中的关键环节、重点项目、重点产业，扎实开展乡 村振兴资金使用监管突出问题整治，推动乡村振兴资金"精准滴灌"、惠及于民。图为近日，该市纪检监察干部 在沙坡头区镇罗镇镇罗村设施蔬菜种植基地走访了解情况。鲍冰 摄 "随着脱贫攻坚成果不断巩固、乡村振兴战略持续推进，农特产业发展资金投入多、规模大，自治区把乡村振 兴资金使用监管作为深化整治群众身边不正之风和腐败问题的重中之重来抓。"自治区纪委监委有关负责同志 介绍。 乡村振兴资金涉及部门多、范围广、条线长，必须推动各责任主体同时同向综合发力，构建各负其责、统一协 调的责任格局，确保整治一贯到底、一抓到底。 "蝇贪蚁腐"损害群众切身利益，危害党的执政根基。在二十届中央纪委四次全会上，习近平总书记强调，要持 续推动全面从严治党向基层延伸。各级党委特别是市县党委要把整治群众身边不正之风和腐败问题作为重要任 务常态化地抓，让老百姓可感可及。中央纪委四次全会对持续深化整治群众身边不正之风和腐败问题，着力推 动改革发展成果更多更公平惠及全体人民作出具体部署。 2025年以来，宁夏 ...

（来源：市场星报） 通过中介，旧房子顺利卖掉，他们也买到了心仪的新房子。随后，金大伯夫妇将购房款全款支付进中介 的监管账户等待房子过户。然而，到了约定的解押过户期限，中介却告知他们卖家不能按约履行，要协 商一个延后的日期。 然而，新的履约期限已过，卖家依然无意履约，而此时卖家的银行贷款也已经到期，这令已经住进新房 的金大伯夫妇忧心忡忡，担心房屋可能因为卖家的债务问题被银行处置。而且新房无法过户将会导致旧 房户口无法迁出，他们与旧房买房人之间的合同也可能违约。 发函告知后果推动卖房人筹措资金 金大伯夫妇向律师咨询，这种情况是否有必要起诉卖房人？ 律师分析后建议，可先给对方发函告知，若继续拖延就解除合同并索赔，发函后若对方仍未行动就走诉 讼流程。根据合同约定，若卖家坚持不解押过户，他们可以单方解除合同并向卖家索赔20余万元违约 金，而卖家若筹措资金去解押过户，其获得购房款之后能还清银行贷款和其他债务。 律师帮助金大伯夫妇起草了一份告知函给中介和卖家，以法律规定和合同约定为依据告知其不配合办理 过户的法律后果。卖房人收到告知函后，意识到问题的严重性，积极筹措资金配合完成了过户。 为了改善晚年生活，年已七旬的金大伯夫 ...

今年是巩固拓展脱贫攻坚成果同乡村振兴有效衔接5年过渡期的最后一年，强化乡村振兴领域的监督执纪也是今年纪检监察机关的工作重点之一。 紧盯农机购置补贴 推动资金及时兑付 在江苏，当地紧盯乡村振兴资金使用监管突出问题开展整治，以有力监督推动乡村振兴决策部署落到实处。 刘洋是江苏盱眙县永华村的村民，今年秋收期间，他新买了一台农用收割机。 江苏省盱眙县穆店镇永华村村民刘洋：今年买的这台收割机是15.3万元，补贴大了一点，马力也大了，补贴了4.03万元。 记者：多长时间拿到补贴的？ 今年，随着纪检监察机关开展整治乡村振兴资金使用监管突出问题的行动，盱眙县纪委监委在了解到刘洋的情况后，立即进行了调查。 江苏省盱眙县纪委监委第八纪检监察室周晨：调查发现镇街及农业农村、财政等部门，对其申报材料审核迟缓，导致补贴发放晚了。 针对类似的问题，盱眙县纪委监委在全县开展了深入摸排，发现由于业务人员政策不熟、镇街审核不严、部门衔接不畅等问题存在，农机购置补贴资金兑付 周期偏长的情况比较普遍。对此，纪检监察机关在查处有关责任人的同时，督促农业、财政等相关部门及时将补贴足额、精准兑付，并通过优化补贴审核流 程，明确受理录入时效，强化财政资金 ...

Core Insights - The recent operational issues faced by the Rabbit Baby distributors have raised market concerns, testing the brand's emergency response capabilities and prompting reflections on distributor management within the industry [1] Financial Health - In the first half of 2025, Rabbit Baby reported a net profit of 268 million yuan, reflecting a year-on-year growth of 9.71% - The company demonstrated strong cash flow generation and dividend capabilities, announcing a dividend plan of 2.8 yuan per 10 shares (including tax), totaling 229 million yuan, with a mid-term dividend payout ratio of 85.63% [3] Business Transformation - To adapt to market changes, Rabbit Baby is actively pursuing business transformation and channel optimization - In the first half of 2025, the revenue from the decorative materials business was 2.985 billion yuan, showing a year-on-year decline, but the company is focusing on expanding its presence in rural markets, having recruited 847 rural stores, bringing the total to 2,481, an increase of over 300 since the beginning of the year - The custom home business showed growth potential, with revenue from full-house customization reaching 621 million yuan, a year-on-year increase of 4.46% [4] Industry Reflection - The distributor issues faced by Rabbit Baby are not isolated, as the home building materials industry has seen frequent operational difficulties among distributors - This highlights common challenges in distributor management and financial oversight across the industry - Local initiatives are exploring the establishment of third-party financial supervision systems or unified management platforms to enhance consumer safety and provide new management strategies for brands [6] Brand Commitment - Despite short-term challenges, Rabbit Baby remains committed to product innovation and service upgrades - The company focuses on the research, production, and sales of new home renovation materials, including boards, full-house customization, flooring, and wooden doors, gaining market recognition for its environmental friendliness and quality - The company governance remains stable, having successfully held its first extraordinary general meeting of shareholders in 2025, demonstrating governance transparency and compliance - For consumers, shopping through authorized channels and understanding the brand's after-sales policies are crucial for ensuring consumer protection [7]

Core Viewpoint - The family care industry is undergoing a transformation driven by consumer demand for service quality and stricter regulatory policies, with a focus on establishing a trust mechanism and protecting consumer rights [1][2]. Group 1: Industry Challenges and Regulatory Changes - Long-standing issues in the family care industry, such as prepaid disputes and inconsistent service quality, have become more pronounced, necessitating a shift from optional to mandatory fund supervision [1][2]. - The introduction of regulations, such as the Supreme Court's interpretation on prepaid consumption disputes effective May 2025, aims to clarify the rights and obligations of consumers and operators, enhancing the accountability of service providers [2][3]. - The need for effective fund supervision has led to the consideration of banking regulatory mechanisms as a viable solution to ensure consumer fund safety [2][3]. Group 2: Company Initiatives and Innovations - Saint Bella Group, recognized as the largest full-cycle family care group in Asia and China, has proactively responded to industry trends by partnering with China Merchants Bank to launch a fund supervision account, enhancing consumer rights protection [3][4]. - The fund supervision account ensures that consumer prepaid funds are held in a regulated state until services are rendered, thereby increasing transparency and safeguarding consumer investments [3][4]. Group 3: Impact on Consumer Trust and Market Dynamics - The banking-level supervision model not only secures consumer funds but also positively influences company development by enhancing consumer trust and brand reputation [4][5]. - As the industry shifts from price competition to value competition, factors such as fund safety and credit assurance are becoming critical competitive dimensions [5][6]. - The collaboration between financial institutions and the family care industry is expected to foster a healthier market environment, encouraging high-quality service providers to thrive [6].

Core Viewpoint - The establishment of the first property service trust in Nanjing aims to enhance transparency and accountability in property management by segregating property fees and public revenues, addressing the prevalent issues of fund supervision in the industry [1] Group 1: Project Overview - The property service trust project was launched in the Qinhai District of Nanjing, specifically in the Pingshi Street community [1] - The project involves the creation of an independent trust account to ensure that property fees and public revenues are managed separately and transparently [1] - The collaboration includes Jiangsu International Trust Co., the local community, Baoshihua Property Company, and Ningbo Bank [1] Group 2: Operational Mechanism - The trust structure designates the homeowners' association as the principal, the trust company as the trustee, the property company as the executor, and all homeowners as beneficiaries [1] - A dedicated trust account is established by Jiangsu Trust to manage property fees and public revenues, ensuring funds are used specifically for property management [1] - The property company receives compensation based on an agreed percentage, promoting financial transparency and risk isolation [1] Group 3: Benefits and Impact - This initiative aims to protect homeowners' rights from the outset, ensuring fund safety and designated usage [1] - The introduction of a third-party supervision mechanism is expected to encourage property service companies to improve service quality [1] - The project effectively isolates community funds from the property company and homeowners' committee, enhancing accountability [1]

Core Viewpoint - The company has launched a "Postpartum Guarantee Fund Safety Account" service in collaboration with China Merchants Bank, aimed at ensuring the safety of advance payments made by customers for maternity center services [1][2]. Group 1: Service and Financial Management - The company requires customers to pay a 50% advance payment when signing the service contract, typically around six months before the expected delivery date [1]. - Advance payments will be placed in a bank-controlled special account, remaining frozen until the customer checks in and receives services, ensuring the safety of customer funds [2]. - This independent bank custody and closed funding supervision is expected to enhance customer trust and reduce decision-making time and costs [2]. Group 2: Industry Context and Impact - The postpartum center industry is experiencing a "shutdown wave" and "bankruptcy wave," with several centers closing down due to previous low-quality expansion and price wars [2]. - The company aims to raise industry service standards and operational thresholds, which may accelerate supply clearing in the market, positioning itself as a leader in providing high-quality products and services [2]. - The company is expected to benefit from a light-asset model relying on hotel management and a strategy of managing first before acquiring [3]. Group 3: Financial Projections - The company maintains adjusted net profit forecasts of 121 million, 198 million, and 302 million yuan for 2025, 2026, and 2027, respectively [3]. - The current stock price corresponds to a PE valuation of 32x, 19x, and 13x for the respective years, with a target PE of 30x for 2026, leading to a target price of 10.36 HKD [3].

Investment Rating - The investment rating for the company is "Buy" [1] Core Views - The introduction of bank fund supervision enhances the safety of advance payments, providing a more secure consumer experience and potentially reducing decision-making time and costs for customers [3] - The company aims to elevate service standards and trust mechanisms in the maternal and infant industry, positioning itself as a benchmark for safety and quality, especially in light of recent industry challenges [3] - The company is expected to benefit from a light asset model and a strategy of management first followed by acquisitions, with adjusted net profit forecasts of 1.21 billion, 1.98 billion, and 3.02 billion for 2025, 2026, and 2027 respectively [3] Financial Summary - Total revenue is projected to grow from 560 million in 2023 to 1,710 million by 2027, with a compound annual growth rate (CAGR) of approximately 27.2% [2] - The company is expected to turn a profit in 2025 with a net profit of 121 million, increasing to 302 million by 2027, following a significant loss in 2023 and 2024 [2] - The gross margin is expected to stabilize around 36.4% to 38.2% from 2025 to 2027, indicating a focus on maintaining profitability as revenues grow [2] Industry Context - The maternal center industry is undergoing a consolidation phase, with the company’s initiatives likely to accelerate supply clearing and set higher operational standards [3] - Recent closures in the industry highlight the need for improved service quality and operational standards, which the company is addressing through its new banking partnership [3] - The company’s strategy to implement independent fund custody is expected to enhance consumer trust and safety, potentially leading to a competitive advantage in a challenging market [3]

Core Viewpoint - The launch of the cloud payment and fund supervision platform by Industrial Bank aims to enhance the security and reliability of prepayment for off-campus training institutions through the use of digital RMB and smart contract technology [1][2] Group 1: Platform Features - The cloud supervision platform allows parents to select courses and pay tuition fees online using digital RMB, with funds entering a bank-regulated wallet that cannot be accessed by training institutions until classes are confirmed as completed [1] - The platform provides a full-process constraint on "course payment + fund supervision," creating a transparent and reliable payment barrier for parents and fostering mutual trust between compliant educational institutions and families [1] Group 2: Target Users and Benefits - The platform serves educational training and vocational education institutions, offering integrated services from course management to fund supervision, thereby supporting the digital upgrade and healthy development of the education industry [2] - Parents can conveniently manage course selections and payment confirmations through their mobile devices, while regulatory authorities can monitor total fund supervision amounts and the number of institutions in real-time for efficient and transparent oversight [2] Group 3: Future Plans - The Industrial Bank's Fuzhou branch plans to further develop digital RMB payment scenarios and gradually expand this model to a wider range of prepaid payment fields, reinforcing financial security for consumers [2]

Core Insights - Suzhou Rural Commercial Bank has successfully launched the "School Canteen Fund Supervision Platform" in collaboration with the Wujiang District Education Bureau, aimed at enhancing fund management efficiency and transparency through comprehensive oversight of school canteen expenditures [1][2] Group 1: Platform Features - The asset management platform covers various aspects including canteen procurement, salary disbursement, student meal fee payments, and multi-level report query services [1] - The platform integrates directly with the Sunshine Canteen system, allowing canteen administrators to confirm order data, which is then verified by financial personnel for fund disbursement, creating a fully electronic audit trail [1] - The salary disbursement feature includes a trial calculation function that automatically computes necessary deductions such as social security and housing fund, generating detailed pay slips with a single click [1] Group 2: Collaborative Efforts - The project was made possible through the collaboration of multiple departments within the bank, including the Network Finance Department, Financial Technology Department, Retail Banking Department, Transaction Banking Department, and Corporate Banking Department [2] - The platform establishes a closed-loop management system for canteen funds, utilizing bank custody, special account accounting, and timely disbursement functions to enhance fund security [2] - The Education Bureau can monitor real-time balances, fund transfer details, and carryover situations of each school's supervisory account, addressing issues of unclear fund flow and weak oversight in traditional models [2]