Core Viewpoint - The article highlights the increasing collaboration between central enterprises (央企) and local governments in Guangdong, emphasizing the establishment of new companies and projects that contribute to the local economy and strategic development in various sectors [1][4]. Group 1: Central Enterprises' Activities in Guangdong - In 2025, at least 25 central enterprises (including subsidiaries) established new companies in Guangdong, indicating a strong trend of investment and long-term commitment to the region [2][4]. - The establishment of new companies by central enterprises is seen as a strategic move to foster long-term growth and development in Guangdong, particularly in the Greater Bay Area [1][4]. - Notable companies established include Guangdong Cangyue Direct Current Power Operation Co., Ltd. and China Resources Recycling Group, which focus on energy, environmental protection, and urban development [2][4]. Group 2: Investment Trends and Focus Areas - Central enterprises are increasingly investing in strategic emerging industries, with an annual investment growth rate exceeding 20%, aligning with Guangdong's rich application scenarios and innovative regulatory environment [8][10]. - The focus on low-altitude economy and green technology is evident, with companies like FAW Qiyu and China Rare Earth Group establishing operations in Shenzhen to support these sectors [8][9]. - The collaboration between central enterprises and local governments is seen as a way to enhance resource allocation and promote sustainable development, particularly in carbon management and recycling industries [9][10]. Group 3: Economic Impact and Future Outlook - The establishment of new companies and projects by central enterprises is expected to significantly impact local economies, providing resources, technology, and management expertise [1][4]. - The ongoing trend of central enterprises setting up in Guangdong reflects a recognition of the region's business environment and market potential, signaling a commitment to long-term partnerships [6][10]. - As central enterprises continue to expand their presence in Guangdong, the collaboration is likely to deepen, fostering innovation and economic growth across various sectors [6][10].

2026年1月，招商拜访马不停蹄：广东投促局、广州企业及相关部门组队赴京，与央企代表开展产业交流对接；佛山明确提出深入开展央国 企招商攻坚，并落地了中旅国际文旅合作；珠海迎来中农集团项目签约……央地合作热潮涌动，在经济第一大省尤为活跃。 央企项目或新公司落地，往往意味其资金、技术、人才、管理经验等资源的导入，对地方经济产生重要影响。一直以来，央企都将广东作为 长期布局的战略要地，大批高质量项目落户转化为经济社会的有力支撑。近年来，央企更是加强产业投资、科技合作、金融赋能等力度和广 度，持续加码广东。 相比于项目合作，设立实体公司是更具长期性、战略性之举，意味着将此地作为长期发展、独立的增长极来培育。中央企业正以这种方式在 大湾区扩大布局，据不完全统计，仅2025年一年，至少有25家央企（含子公司）在广东设立了新公司。进入2026年，节奏仍未停止。 | 2025年央企(含子公司)在粤成立新公司 | | | | --- | --- | --- | | 公司名称 | 注册成立时间 | 领域 | | 广东藏粤直流电力运营有限公司 | 2025/1/9 | 能源 | | 中资环电器电子循环利用（深圳）有限公司 | 20 ...

文 | 新浪财经 李欣然 专题：对话ESG全球领导者 新浪财经ESG评级中心提供包括资讯、报告、培训、咨询等在内的14项ESG服务，助力上市公司传播ESG理念，提升ESG可持续发展表现。点击 查看【 ESG评级中心服务手册】 在人类发展面临多重结构性挑战的时代，如何以系统性思维应对环境、经济与社会的交织难题，正成为全球治理的关键命题。气候变化、生物多样性丧失与 污染问题构成的"三重环境危机"亟待破解，而人口老龄化与人工智能（AI）浪潮则在重塑未来社会的运行逻辑。面对这些跨越国界的复杂议题，建立有效的 国际合作框架与市场激励机制比以往任何时候都更为重要。 在此背景下，新浪财经与经济合作与发展组织（Organization for Economic Co-operation and Development，简称OECD）驻华代表海博（Tamas Hajba）进行了 对话，从国际组织的视角探讨系统性解决方案。他深入阐释了如何通过创新融资机制调动私营资本应对环境危机，分析了企业从多元化ESG实践向系统 性"负责任商业行为"转型的路径，并展望了中欧在环境治理与税收改革等关键领域的合作方向。同时，他也前瞻性地剖析了老龄化 ...

Group 1 - The core viewpoint of the news is that Shanggao Environmental Energy (SZ000803) experienced a trading halt with a price increase of 10.06%, reaching 9.3 yuan, driven by strong support from state-owned enterprises and a focus on the environmental industry [1][2]. Group 2 - The company announced that Shandong Highway Group and its affiliates fully subscribed to a private placement of shares worth 650 million yuan, with a lock-up period of 36 months, indicating strong confidence from the major shareholder in the company's development [2]. - The raised funds will be used to repay bank loans, which is expected to reduce the company's debt-to-asset ratio from 71.52% to approximately 65%, thereby optimizing the capital structure and lowering financial risks [2]. - Shanggao Environmental Energy's business in kitchen waste treatment and bio-aviation fuel aligns with the national "dual carbon" strategy, allowing the company to benefit from tax incentives and holding exclusive operating rights in 20 cities with a processing capacity of 5,160 tons per day, creating a regional competitive barrier [2]. - The recent market focus on the environmental industry, coupled with ongoing government support for environmental policies, has made this sector a hot topic, contributing to the active performance of related stocks, including Shanggao Environmental Energy [2]. - The company is undergoing a business transformation, with the proportion of self-produced oil fats increasing to over 50% and gross profit margin improving to 40.68%, indicating initial success in its business transition [2]. - For the period from January to September 2025, the company's net operating cash flow was 222 million yuan, showing significant improvement compared to 2022, which may attract investor interest [2]. - On the funding side, there was likely a net inflow of large orders on the day of the trading halt, contributing to the stock price increase; technical indicators may also show positive signals such as a short-term moving average crossover [2].

Core Viewpoint - The event held in Yancheng, where the Yongzhou delegation presented local products and cultural items, aims to strengthen cooperation and exchange between the two cities following Yongzhou's championship victory in the Xiang Super League [1][3]. Group 1: Event Highlights - The event featured a lion dance performance and showcased Yongzhou's cultural and natural beauty through a promotional video, attracting the audience's interest in the city [3]. - Yongzhou's delegation highlighted local tourism resources and quality agricultural products, emphasizing their commitment to investment and cooperation [5][6]. - An interactive food tasting area allowed attendees to sample Yongzhou's specialties, such as Dong'an chicken and navel oranges, alongside Yancheng's local products, fostering a sense of community [8][10]. Group 2: Agricultural and Economic Insights - The Yongzhou delegation visited the Yancheng Silver Treasure Group's operation center, observing over 2,000 types of quality agricultural products, showcasing Yancheng's agricultural strength [13]. - The "Salt of Flavor" brand aims to integrate online and offline sales channels, targeting a sales goal of 3.8 billion yuan by 2025, which will significantly boost income for local villages [13]. - The delegation also explored potential collaborations in smart manufacturing, renewable energy, and environmental protection industries during visits to local companies [15]. Group 3: Cultural and Community Connections - The relationship between Yongzhou and Yancheng has been strengthened through mutual support, including Yongzhou sending oranges to Jiangsu and naming a road after Jiangsu as a gesture of gratitude [17]. - The event symbolizes a new beginning for collaboration, with both cities looking to create more opportunities for mutual growth and development [17].

三、备查文件 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 永清环保股份有限公司关于董事长辞职暨补选第六届董事会非独立董事的 公告 一、董事长辞职的情况永清环保股份有限公司（以下简称"公司"）董事会近日收到董事长王峰女士的书 面辞职报告。因个人职业发展规划，王峰女士申请辞去公司董事长、董事、总经理、董事会提名委员会 委员、战略委员会委员职务。辞去上述相关职务后，王峰女士将继续在公司担任其他职务。根据有关法 律法规及《公司章程》的规定，王峰女士的辞职不会导致公司董事会成员低于法定最低人数，其辞职申 请自公司收到辞职报告之日起生效。公司董事会对王峰女士在任职期间所做出的贡献表示衷心感谢！ 截至本公告披露日，王峰女士持有公司股份1,504,723股，不存在应当履行而未履行的其他承诺事项，其 所持股份将继续严格遵守《中华人民共和国公司法》《上市公司董事和高级管理人员所持本公司股份及 其变动管理规则》等相关法律法规、规范性文件的要求。 为保证董事会的正常运作，根据《公司章程》的相关规定，公司半数以上董事共同推举董事戴新西先生 代为履行公司董事长的职责，代行职责的期限自推举之日起至董事会选举产 ...

1月15日，国新办举行新闻发布会，介绍货币金融政策支持实体经济高质量发展成效。 会上，中国人民银行新闻发言人、副行长邹澜表示，中央经济工作会议已经明确，2026年要继续 实施适度宽松的货币政策，人民银行将按照党中央、国务院决策部署，加大逆周期和跨周期调节 力度，有效支持"十五五"开好局、起好步。根据当前经济金融形势需要，人民银行将先行推出两方 面政策措施。一方面是下调各类结构性货币政策工具利率，提高银行重点领域信贷投放的积极 性。另一方面是完善结构性工具并加大支持力度，进一步助力经济结构转型优化。 三是增加科技创新和技术改造再贷款额度并扩大支持范围。将科技创新和技术改造再贷款额度从8000亿元， 增加4000亿元至1.2万亿元，并将研发投入水平较高的民营中小企业等纳入支持领域。 四是合并设立科技创新与民营企业债券风险分担工具。将此前已经设立的民营企业债券融资支持工具、科技 创新债券风险分担工具合并管理，合计提供再贷款额度2000亿元。 五是拓展碳减排支持工具的支持领域。纳入节能改造、绿色升级、能源绿色低碳转型等更多具有碳减排效应 的项目，引导银行支持全面绿色转型。 六是拓展服务消费与养老再贷款的支持领域。结合 ...

Core Viewpoint - The article discusses the challenges and potential solutions for environmental upgrades in the Beijing-Tianjin-Hebei region, emphasizing the need for a cross-regional transfer payment mechanism to address funding shortages for environmental improvements [1][6]. Group 1: Funding Shortages and Economic Impact - Funding shortages are a significant barrier to environmental upgrades in the Beijing-Tianjin-Hebei region, with estimated costs for upgrades ranging from 10% to 30% of GDP, which could negatively impact economic growth and employment [2][5]. - Environmental upgrades lead to increased costs for farmers and businesses, significantly reducing disposable income and profit margins. For example, farmers may face additional costs of 4,000 yuan for heating, which can account for over 30% of their annual income [3][4]. Group 2: Proposed Cross-Regional Transfer Payment Mechanism - The proposed cross-regional transfer payment mechanism aims to provide financial compensation from economically developed areas to less developed regions to facilitate environmental upgrades [6][7]. - This mechanism aligns with economic principles, such as the Coase Theorem, which suggests that clear property rights and low transaction costs can lead to optimal pollution control through pricing mechanisms [6]. Group 3: Implementation Challenges and Solutions - Key challenges in implementing the transfer payment mechanism include identifying pollution sources, determining payment amounts, and securing funding sources [11]. - Effective implementation requires legal modifications to enforce environmental compensation rules, improve environmental data accuracy, and enhance cross-regional information sharing and joint enforcement [12][13].

Core Viewpoint - The article discusses the importance of monitoring institutional trading behavior when a company faces negative news, such as regulatory investigations or financial discrepancies, rather than making hasty decisions based on the news alone [1][8]. Group 1: Institutional Participation - When a company encounters negative news, the first step is to check if institutions are still actively participating in trading [2][5]. - For example, despite concerns about bank stocks in 2022, institutional trading data showed continued active participation, which contributed to the stocks' rise [4][5]. Group 2: Market Reactions - Stocks without institutional participation, even if they experience positive news or rebounds, are often unsustainable and lack solid backing [5][7]. - The white wine sector saw a complete disappearance of institutional inventory post-October 2023, indicating a lack of institutional interest, which led to short-lived rebounds [5][7]. Group 3: Investment Strategy - Investors should focus on institutional actions rather than emotional reactions to news; if institutional inventory remains, it suggests ongoing interest despite negative news [6][8]. - A case study of an environmental stock illustrates that maintaining a position when institutional inventory is present can lead to gains, as institutional actions are more indicative of future performance than news content [6][8].

Core Viewpoint - The article emphasizes the importance of ecological protection over large-scale development in the Yangtze River Economic Belt, highlighting a decade of progress in balancing economic growth with environmental sustainability [2][10][11]. Group 1: Ecological Protection - The Yangtze River Economic Belt covers 11 provinces and municipalities, accounting for about one-fifth of China's land area and half of its population and economic output [2]. - Since 2020, the Yangtze River has maintained a Class II water quality for six consecutive years, with increased biodiversity and aquatic resources [2][10]. - The initiative "co-grasp major protection, not engage in major development" reflects a shift towards high-quality, green, and low-carbon development [3][11]. Group 2: Economic Development - By November 2025, the foreign trade import and export value of the 11 provinces and municipalities along the Yangtze River reached 19.12 trillion yuan, accounting for 46.4% of the national total [2]. - The Yangtze River Economic Belt has formed five major industrial clusters, including electronics, high-end equipment, automobiles, home appliances, and textiles, with a projected GDP of over 63 trillion yuan in 2024, growing at 5.4% [22]. Group 3: Policy and Governance - The article discusses the establishment of a comprehensive ecological protection and governance system, including measures like a ten-year fishing ban and pollution control initiatives [10][18]. - Collaborative mechanisms among provinces have been strengthened to ensure coordinated management of the river basin, enhancing ecological compensation and protection efforts [19][20]. - The government is promoting innovative approaches to ecological protection, such as the river and lake chief system, which assigns responsibility for every river and lake [21]. Group 4: Community Engagement and Sustainable Practices - Local communities are actively involved in ecological protection, with initiatives to train fishermen in alternative livelihoods and promote eco-tourism [27][28]. - The article highlights successful case studies where ecological restoration has led to improved local economies, such as the transformation of polluted areas into recreational spaces [28]. Group 5: Future Outlook - The article concludes with a vision for the Yangtze River Economic Belt to become a model of harmonious coexistence between nature and development, ensuring sustainable benefits for future generations [28].