数据简介 指标： 企业代码 股票代码 股票简称 年份 上市板块 企业家精神 行业代码 行业名称 沪深A股（沪深A股为1,否则为0） 北京 A股（北京A股为1,否则为0） 制造业（制造业为1,否则为0） 数据截图 | Stkcd | id | ShortName | year | 上市板块 | Entre | IndustryCode | IndustryName | | --- | --- | --- | --- | --- | --- | --- | --- | | 企业代码 | 股票代码 | 股票简称 | 年份 | 上市板块 | 企业家精神 | 行业代码 | 行业名称 | | 000002 | 2 | 力科A | 2012 | 深证主板 | 12.81223679 | K70 | 房地产业 | | 000002 | 2 | 力科A | 2013 | 深址王板 | 12.95195293 | K70 | 房地产业 | | 000002 | 2 | 力科A | 2014 | 深证主板 | 12.89827919 | K70 | 房地产业 | | 000002 | 2 | 力科A | 2015 | 深证主板 | ...

Core Viewpoint - The article discusses the new changes to the VAT end-of-period credit refund policy effective from September 2025, allowing eligible taxpayers to apply for refunds of their end-of-period VAT credits under specific conditions [3]. Group 1: Eligible Industries - Taxpayers in the manufacturing, scientific research and technical services, software and information technology services, and ecological protection and environmental governance sectors can apply for monthly refunds of their end-of-period VAT credits [5]. - The refund calculation formula for these industries is: Refundable VAT credit = End-of-period VAT credit × Input composition ratio × 100% [6]. Group 2: Real Estate Sector - Real estate developers can apply for a refund of 60% of the newly increased end-of-period VAT credits if the new credits are greater than zero for six consecutive months, with the sixth month’s new credits not less than 500,000 yuan [8]. - The refund calculation formula for real estate developers is: Refundable VAT credit = Newly increased end-of-period VAT credit compared to March 31, 2019, × Input composition ratio × 60% [9]. Group 3: Other Taxpayers - Other taxpayers can apply for a refund if they have positive end-of-period VAT credits for six consecutive months, and the newly increased credits in the sixth month compared to the previous year’s end-of-period credits are not less than 500,000 yuan [11]. - The refund calculation formula for these taxpayers is: Refundable VAT credit = Newly increased end-of-period VAT credit (up to 100 million yuan) × Input composition ratio × 60% + (amount exceeding 100 million yuan) × Input composition ratio × 30% [11]. Group 4: Eligibility Conditions - To qualify for the policy, taxpayers must have an A or B tax credit rating [12]. - Taxpayers must not have committed fraud related to VAT refunds or have been penalized for tax evasion in the past 36 months [13][14]. - Taxpayers must not have enjoyed VAT immediate refund policies since April 1, 2019, unless otherwise specified [15].

Group 1 - ST Tianrui held its 17th meeting of the 6th board of directors on October 23, 2025, to review the "Q3 2025 Report" and other documents [1] - For the year 2024, ST Tianrui's revenue composition is as follows: Instrument manufacturing accounts for 64.21%, ecological protection and environmental governance accounts for 23.45%, third-party testing services account for 10.42%, and pharmaceutical manufacturing accounts for 1.91% [1] Group 2 - As of the report, ST Tianrui has a market capitalization of 2.3 billion yuan [2] - A well-known brand has made a significant investment of 170 million yuan to acquire 2,000 shares of a target company with a registered capital of only 10,000 Hong Kong dollars, raising questions about the necessity of the acquisition [2]

Group 1 - The company, Wangneng Environment, announced a share repurchase plan, having repurchased approximately 9.46 million shares, which accounts for 2.18% of its total share capital, with a total transaction amount of approximately 152 million RMB [1] - The highest transaction price for the repurchased shares was 20.2 RMB per share, while the lowest was 14 RMB per share [1] - For the first half of 2025, the company's revenue composition is entirely from the ecological protection and environmental governance industry, accounting for 100% [1] Group 2 - The current market capitalization of Wangneng Environment is 7.3 billion RMB [2]

Key Points - The new policy adjusts the types of deductible certificates included in the calculation formula for input tax composition ratio, adding electronic invoices for air and railway tickets, and separately listing the unified invoice for motor vehicle sales [3] - The adjusted deductible certificate types now include seven categories, such as VAT special invoices and customs import VAT payment certificates [3] - Taxpayers in four specific industries (manufacturing, scientific research and technical services, software and information technology services, ecological protection and environmental governance) can apply for a refund of the end-of-period retained tax amount on a monthly basis [4][5] - The determination of whether a taxpayer belongs to these four industries is based on whether the total VAT sales amount from these industries exceeds 50% of the total VAT sales amount, rather than the proportion of any single industry [4] - For real estate development and operation taxpayers, if the end-of-period retained tax amount has increased for six consecutive months and the increase in the sixth month is not less than 500,000 yuan, they can apply for a refund of 60% of the new increase [5] - Other taxpayers, excluding those in the specified four industries and real estate development, can apply for a proportional refund if their new increase in retained tax exceeds 500,000 yuan [5]

Core Viewpoint - Guanzhong Ecology (300948.SZ) announced a significant share transfer agreement with Hangzhou Deep Blue Financial Whale Artificial Intelligence Technology Partnership, marking a change in control of the company [1] Group 1: Share Transfer Agreement - The controlling shareholder Guanzhong Investment and actual controllers Li Chunlin and Xu Jianping signed a share transfer agreement on September 26, 2025, to transfer a total of 21,704,920 shares, representing 15.50% of the total share capital [1] - The first phase of the transfer involves 10.50% of the shares at a price of 15 yuan per share, totaling approximately 221 million yuan [1] - To ensure a smooth transition of control, Guanzhong Investment and its concerted parties will sign a voting rights waiver agreement, relinquishing voting rights on the remaining 33.74% of shares for a period of 36 months after the first phase of the transfer [1] Group 2: Acquisition Plan - The company has signed a letter of intent with 11 shareholders of Hangzhou Actuary Artificial Intelligence Technology Co., Ltd. to acquire 51% of its equity for cash, with a total valuation not exceeding 560 million yuan [1] - Hangzhou Actuary specializes in intelligent financial and tax services, with a dispersed shareholding structure, including major shareholders controlled by Jin Chunping [1] - The profitability of Hangzhou Actuary is noteworthy, with a net profit of 7.92 million yuan in 2024 and 5.07 million yuan in the first half of 2025 [1]

Group 1 - The company Wangneng Environment (SZ 002034) held its 13th meeting of the 9th Board of Directors on September 15, 2025, to discuss various proposals including the election of directors to manage company affairs [1] - For the first half of 2025, Wangneng Environment's revenue composition is entirely from the ecological protection and environmental governance sector, accounting for 100.0% [1] - As of the report date, the market capitalization of Wangneng Environment is 7.5 billion yuan [1]

Group 1 - Dongzhu Ecological announced the acquisition of 89.49% of Kairuixingtong's shares through a combination of stock issuance and cash payment, aiming to make Kairuixingtong a subsidiary [1][3] - The stock issuance price is set at 5.47 yuan per share, which is not less than 80% of the average trading price over the previous 120 trading days [3] - The company plans to raise funds not exceeding 100% of the transaction price through the issuance of shares, with the number of shares issued not exceeding 30% of the total share capital post-transaction [3] Group 2 - Kairuixingtong, established in October 2011, specializes in satellite communication technology and systems, with products including satellite communication baseband products and terminals [4] - Kairuixingtong's revenue for 2023, 2024, and the first half of 2025 is projected to be 149 million, 258 million, and 110 million yuan respectively, with net profits of 8.95 million, 41.5 million, and 7.82 million yuan [4] - The net profit margin of Kairuixingtong has shown significant volatility, recorded at 5.99%, 16.1%, and 7.13% during the same periods [4] Group 3 - Dongzhu Ecological's performance has declined since 2022, with revenues dropping from 1.242 billion yuan in 2022 to 376 million yuan in 2024, and net profits turning negative [7] - The company expects a net profit loss of between 5 million to 10 million yuan for the first half of 2025, compared to a profit of 12.98 million yuan in the same period last year [7] - The decline in performance is attributed to intensified competition, macroeconomic factors, and delays in project payments, leading to reduced new orders and slower project execution [7]

Core Viewpoint - Dongzhu Ecological is undergoing a significant asset restructuring by acquiring 89.49% of Kairuixingtong Information Technology (Nanjing) Co., Ltd, aiming to enter the satellite communication sector after experiencing declining performance in its core business [1][12]. Group 1: Acquisition Details - Dongzhu Ecological plans to acquire Kairuixingtong through a combination of issuing shares and cash payments, with the transaction expected to be a major asset restructuring [1][6]. - The share issuance price is set at 5.47 yuan per share, which is not less than 80% of the average trading price over the previous 120 trading days [7]. - The acquisition will not change the actual control of the company, which remains with Xi Huiming and Pu Jianfen [7]. Group 2: Financial Performance of Kairuixingtong - Kairuixingtong, established in October 2011, specializes in satellite communication technology and has shown rapid revenue growth, with projected revenues of 149 million yuan in 2023 and 258 million yuan in 2024 [9]. - The net profit for Kairuixingtong is forecasted to be 8.95 million yuan in 2023 and 41.5 million yuan in 2024, indicating a fluctuating net profit margin of 5.99%, 16.1%, and 7.13% over the specified periods [9][10]. Group 3: Dongzhu Ecological's Financial Challenges - Dongzhu Ecological has faced significant revenue and profit declines since 2022, with revenues dropping from 12.42 billion yuan in 2022 to an estimated 3.76 billion yuan in 2024 [12]. - The company reported a net loss of 326 million yuan in 2022 and is projected to continue facing losses in 2025, with a forecasted net profit of between -10 million and -5 million yuan for the first half of 2025 [12]. - The decline in performance is attributed to increased competition, macroeconomic factors, and delays in project payments, impacting the company's operational efficiency [12].

Core Viewpoint - The new policy on VAT end-period tax refund will be implemented starting September 1, 2025, aimed at providing support to specific industries and taxpayers [4]. Group 1: New VAT End-Period Tax Refund Policy - The policy will take effect from September 1, 2025 [4]. - Eligible industries for tax refund include manufacturing, scientific research and technical services, software and information technology services, ecological protection and environmental governance, and real estate development [4][5]. Group 2: Eligibility Criteria for Tax Refund - Taxpayers in the specified industries must have VAT sales from these sectors exceeding 50% of their total VAT sales to qualify for the refund [6]. - For real estate developers, the VAT sales and prepayments must also exceed 50% of total VAT sales [7][8]. Group 3: Conditions for Application - Applicants must have an A or B tax credit rating and must not have committed tax fraud or been penalized for tax evasion in the past 36 months [11]. - The VAT sales amount includes declared sales, adjusted sales from audits, and assessed sales [12]. Group 4: Calculation of Refundable Tax Amount - The refundable tax amount for eligible taxpayers is calculated based on the end-period tax amount and the proportion of deductible input tax [13][15][18]. - Specific formulas are provided for different categories of taxpayers to determine the refundable amount based on their sales and prepayments [15][18]. Group 5: Interaction with Other Tax Policies - Taxpayers who have already received VAT refunds since April 1, 2019, cannot apply for the immediate refund or deferred refund policies unless they return the previously refunded amounts [22][23].