Core Viewpoint - The Hong Kong SAR Government has established the Hong Shui Qiao Industrial Park Limited to develop and operate a 23-hectare industrial park in the Northern Metropolis area, expected to commence operations by mid-next year [1] Group 1: Company Formation and Objectives - The industrial park company is wholly owned by the Hong Kong SAR Government, allowing for direct involvement in industrial development and operations [1] - The initiative aims to leverage market forces and public-private partnerships to accelerate industrial development in the Northern Metropolis [1] Group 2: Development Plans - The company will develop the land in phases using various models, including self-development for building and leasing industrial facilities [1] - The company may also tender for the sale of certain land within the industrial park for enterprises to construct their own facilities, and can engage in joint ventures with companies for specific projects [1] Group 3: Governance and Timeline - The board members and CEO of the industrial park company must be appointed with the approval of the Chief Executive of the SAR [1] - The development bureau plans to complete the preparatory work for the industrial park company in the first half of next year [1]

通讯员 吴琳琳 山东省宁阳县经济开发区始终锚定"产业发展先行区、产业融合示范区"定位，以"服务群众、服务企 业"双服务为核心，在民生保障与产业升级的双向奔赴中，书写了高质量发展的精彩答卷。 基础教育筑牢成长根基。开发区聚焦校园安全与教学质量双提升，从环境优化、隐患排查到教学督导、 膳食监管，全方位打造安全优质的教育环境。 医疗服务守护健康底线。联合县二院开展健康讲座、义诊活动，为老年人、计生特殊家庭成员提供免费 查体，为适龄女性开展"两癌"筛查。扎实推进基本公共卫生服务，做好慢性病管理、职业病防治，落实 严重精神障碍患者"五包一"责任制，筑牢公共卫生安全防线。 工作中，宁阳经济开发区坚持企业服务精准高效。深化"企业服务专员+网格化包保"机制，全年为企业 协调解决问题260多项。搭建银企对接桥梁，协调银行投放贷款2.3亿元，争取各类到位资金1.2亿元。推 进企业培育升级，新增规上工业企业3家、省级专精特新中小企业4家，培育省制造业单项冠军企业4 家，指导申报国家高新技术企业8家。 推动行政审批提质增效。推进"一站式"便民服务平台建设，优化"一件事一次办"集成服务，企业开办、 项目审批等8类事项办理时限平均压缩3 ...

延庆园作为京西北科技创新特色发展区，以现代园艺、冰雪体育、新能源和能 源互联网及无人机产业为主导产业，规上工业总产值占延庆区体量较大，对延庆区 经济增长起到了重要的支撑作用，园区发展潜力较大。延庆园投资公司作为延庆区 重要的园区投融资建设和资产经营主体，承担了延庆园经营性资产的管理运营、园 区土地开发及配套设施建设、产业性投融资平台建设等职能，主体地位重要。 免责声明 本内容最终解释权归申万宏源证券有限公司所有。 免责声明 投资有风险，入市需谨慎。本内容不构成任何投资建议。投 资者不应以该等信息取代其独立判断或仅根据该等信息做出 决策。申万宏源对这些信息的准确性或完整性不作保证，亦 不对因使用该等信息而引发或可能引游躲损豢秃拐չ-α葛磊 申万宏源助力实体经济发展 近日，由申万宏源证券担任主承销商的 北京中关村延庆园投资发展有限公司 2025 年面向专业投资者非公开发行公司债券（第一期） 在 上海证券交易所 成功 发行 ，本期债券简称为 " 25 延园 01 "，发行规模 4 亿元，期限 3+2 年，主体 评级 AA + ， 债券评级 AA+ ， 票面利率 2.30 % 。 本期债券募集资金将用于偿 还有息债务 ...

Group 1: Company Overview and Activities - The company is actively participating in the 2025 National Games, leveraging its subsidiary Huatang Foods for brand marketing through both online and offline channels, aiming for maximum brand exposure [2] - Huatang Foods has launched several new products in the first half of 2025, including five types of flavored drinks and herbal teas, which have received positive market feedback [3] Group 2: Sales Channels - Huatang Foods' beverage products are sold through multiple channels: traditional e-commerce platforms, fresh e-commerce, community e-commerce, and home delivery services based on retail stores [4] - The offline sales strategy includes a distributor model and a small number of direct sales through high-quality convenience stores, collaborating with leading snack brands [4] Group 3: Cultural and Creative Industry Development - The subsidiary Xinshi Cheng focuses on the development and operation of creative industry parks, with the T.I.T brand parks increasing to nine in 2025, aiming to enhance brand and location advantages [5] - Future plans include deepening project construction in the parks and enhancing market competitiveness to solidify the company's overall profitability [5] Group 4: Strategic Planning - The company is committed to innovation-driven development, focusing on integrating its food and beverage sectors to improve operational efficiency and effectiveness [6] - Emphasis on leveraging the brand advantages of the cultural and creative industry parks to enhance overall profitability and promote high-quality development [6]

Core Insights - The article emphasizes the importance of zero-carbon parks as a key battleground for implementing the "dual carbon" strategy and seizing opportunities in the green low-carbon industry [1][3] - Shenzhen is highlighted as a leading city in green development and is working towards creating a "Shenzhen model" that aligns with national standards for near-zero carbon pilot projects [1][3] Group 1: Event Overview - The event titled "Zero Carbon Park China Solution: Innovative Practices and Collaborative Governance" aims to explore pathways and practices for the green low-carbon transformation of industrial parks [1][3] - The roundtable will focus on critical issues such as the balance between zero-carbon transformation and economic growth, practical challenges in planning, and collaborative mechanisms among diverse stakeholders [3] Group 2: Event Details - The event is scheduled for November 27, 2025, from 13:00 to 16:30 at the First Financial Studio in Shenzhen [4] - The agenda includes a series of discussions and presentations, including the analysis of the "2025 Zero Carbon Park Industry Impact Insight Report" and case studies on zero-carbon park solutions [5] Group 3: Key Topics of Discussion - The roundtable will address the outlook for zero-carbon park construction and the development of green low-carbon industries, emphasizing Shenzhen's leadership in policy innovation and technical implementation [5] - The event aims to gather insights from various stakeholders to provide practical pathways and forward-thinking considerations for zero-carbon park development [3][5]

Core Viewpoint - Lingang Group is undergoing a significant transformation from large-scale development to investment attraction, industrial cultivation, and operational services, marked by the establishment of the Shanghai Lingang Economic Development Co., Ltd. [2] Group Overview - Lingang Group is a state-owned enterprise under the Shanghai municipal government, focusing on park investment operations, professional enterprise services, and sci-tech industry investments, playing a key role in the development of the Lingang New Area [2][3]. Strategic Initiatives - The establishment of the Lingang Economic Development Company is a strategic move to shift from a functional platform to a market-oriented company, reflecting the need for advanced manufacturing and technological innovation in the context of national competition [2][3]. - The company aims to enhance industrial aggregation and investment capabilities, contributing to the high-quality economic development of Shanghai and the Lingang New Area [2]. Current Operations - Lingang Group currently manages 28 parks in Shanghai, covering over 200 square kilometers, which accounts for 22% of the total planned area of Shanghai's development zones [3]. - The projected revenue for park enterprises in 2024 is CNY 1.97 trillion, with an industrial output value exceeding CNY 570 billion [3]. Challenges and Responses - Lingang Group has faced challenges such as low industrial aggregation, limited project sources, and insufficient enterprise stickiness, prompting the establishment of a specialized investment attraction company [3]. - The company is adapting to a new investment landscape by shifting focus from competing on rent and policies to deepening industry engagement and resource integration [3]. Collaboration and Agreements - A strategic cooperation agreement was signed with the Shanghai Investment Promotion Service Center to enhance collaboration in five key areas, including industry mapping and project promotion [4][5]. - The company will also work closely with the Shanghai Lingang New Area International Investment Development Co., Ltd. to establish a joint working group for major investment projects in key sectors such as new energy vehicles and aerospace [5].

Core Viewpoint - Lingang Group is transitioning from a functional platform to a market-oriented company, marking a significant strategic move to enhance industrial aggregation and investment attraction capabilities, thereby supporting high-quality economic development in Shanghai and the Lingang New Area [1][2]. Group 1: Company Transformation - The establishment of Shanghai Lingang Economic Development Co., Ltd. signifies Lingang Group's shift towards a market-oriented approach, focusing on investment attraction, industrial cultivation, and operational services [1]. - The new company aims to address challenges such as low industrial aggregation, limited project sources, and insufficient enterprise stickiness by transitioning from a focus on rental and policy competition to resource integration and ecosystem building [2]. Group 2: Strategic Partnerships - Lingang Economic Development Co. has signed a strategic cooperation agreement with the Shanghai Investment Promotion Service Center to enhance collaboration in five key areas, including industry mapping and project promotion [3]. - The company will also collaborate with Shanghai Lingang New Area International Investment Development Co. to establish a joint working group for major investment projects, focusing on sectors like new energy vehicles and aerospace [3]. Group 3: Operational Goals - Lingang Group aims to achieve a revenue of 1.97 trillion yuan and an industrial output value exceeding 570 billion yuan by 2024 across its 28 parks, which cover over 200 square kilometers [2]. - The company is implementing reforms to its investment attraction mechanisms, with over 40% of its human resources being redirected to frontline investment services [2].

Group 1 - Guangzhou Light Industry Group held a成果发布会 and招商大会 for its innovation and entrepreneurship sector, launching the Wuyang Smart Plaza project aimed at integrating technology, culture, and consumption [2] - The Wuyang Smart Plaza is designed as a smart commercial complex with a "park + industry" concept, focusing on smart technology research, digital creativity, and high-end services [2] - The project aims to leverage geographical and transportation advantages to foster interaction between the government, the group’s industries, and incoming clients, promoting a win-win development scenario [2] Group 2 - Guangzhou is exploring urban transformation through diversified urban renewal models, shifting from incremental construction to stock operation, creating growth points for the urban economy [3] - Since 2007, Guangzhou Light Industry Group has been deeply involved in urban renewal, developing 16 mid-to-high-end parks with a total construction area exceeding 680,000 square meters, housing over 1,000 enterprises and providing 27,000 jobs [3] - In 2024, the revenue of enterprises in these parks is expected to exceed 40 billion yuan, contributing over 4 billion yuan in taxes, exemplifying the activation of stock assets in Guangzhou [3] Group 3 - In the first three quarters of this year, Guangzhou Light Industry Group achieved a revenue increase of 12.1% year-on-year and a profit increase of 12% [4] - The company aims to enhance its innovation and entrepreneurship sector through specialized upgrades, establishing multi-dimensional招商 channels and optimizing operational structures to inject new momentum for high-quality development [4]

Core Viewpoint - The Shanghai Free Trade Zone Lingang New Area is fostering a diverse industrial ecosystem through collaboration among various stakeholders, enhancing innovation and economic growth in the region [2][3]. Group 1: Industrial Ecosystem Development - The Lingang Group is recognized as a leader in park investment and operation, contributing significantly to Shanghai's industrial output, with nearly 20,000 billion yuan in revenue and over 570 billion yuan in industrial output in 2024, accounting for nearly 14% of the city's total [2]. - The group aims to enhance the capabilities of industrial parks and optimize the innovation ecosystem to cultivate new productive forces and build world-class industrial clusters [2][3]. Group 2: Innovation and Collaboration - The Lingang Group is focused on creating an integrated service provider for park innovation ecosystems, emphasizing deep integration of industry, academia, and research [3]. - The introduction of the "Super Individual 288 Action" aims to attract talent and foster new entrepreneurial models centered around individual or small team-driven startups [3]. Group 3: Incubation and Investment - The group operates four high-quality incubators, accounting for one-third of Shanghai's total, and has nurtured numerous unicorns and gazelle companies [5]. - As of now, the Lingang Group has established 47 funds with a total scale of nearly 180 billion yuan, investing in notable projects such as Zhenge Biology and Huada Semiconductor [8]. Group 4: Strategic Partnerships - The group has launched the "Park Ecological Partner Program" to build a comprehensive service network, signing agreements with 15 major financial institutions and various professional service organizations [15]. - A joint venture with Shanghai Guotou aims to enhance enterprise services and link key technology ecosystems to drive high-quality development [23]. Group 5: Future Directions - The Lingang Group plans to transition from a property developer to a shareholder model, focusing on five key strategies: emphasizing core industries, integrating services, establishing funds, facilitating technology transfer, and leveraging policy advantages [27].

Core Viewpoint - The construction of zero-carbon parks has transitioned from a conceptual idea to a national strategic deployment, gaining significant industry attention following the 2024 Central Economic Work Conference and subsequent policy announcements [1][2]. Group 1: Challenges in Zero-Carbon Park Construction - The zero-carbon park initiative is crucial for addressing challenges such as increased pressure on renewable energy consumption, difficulties in deep decarbonization for high-energy industries, and limitations in the promotion of low-carbon technologies [2]. - National carbon emissions are approximately 14 billion tons annually, with industrial parks contributing over one-third, around 5 billion tons, making zero-carbon parks a core measure for achieving the "dual carbon" goals [2]. - Current challenges in zero-carbon park construction include technical adaptation, cost balancing, policy alignment, and collaborative management [2][3]. Group 2: Policy and Economic Considerations - The stringent requirements for application documents, such as a comprehensive energy consumption carbon emission intensity below 0.2 tons, necessitate over 90% direct supply of green electricity, posing significant challenges for many parks [2][3]. - The disconnect between policy requirements and practical realities, particularly regarding green electricity direct connection, is a critical bottleneck for the implementation of zero-carbon parks [3]. - Regional disparities in resources and energy supply complicate the establishment of zero-carbon parks, with some areas having significantly lower green electricity rates compared to others [4]. Group 3: Collaborative Solutions and Long-term Value - The exploration of zero-carbon parks should consider local realities, including energy infrastructure and industrial structure, to avoid a one-size-fits-all approach [4]. - The perception that zero-carbon initiatives equate to high costs can be addressed by aligning capital investment with the operational attributes of the parks, emphasizing the pursuit of long-term value [4]. - A comprehensive approach to scaling zero-carbon park construction should include seeking green finance, developing new power infrastructure, and integrating circular economy practices [5][6]. Group 4: Multi-Stakeholder Collaboration - Achieving the transition from pilot projects to large-scale implementation of zero-carbon parks requires collaboration among government, parks, enterprises, and capital, focusing on policy refinement, technological innovation, model optimization, and financial support [6].