Core Points - The article outlines the external donation management system of Tianjin Chuangye Environmental Protection Group Co., Ltd, aiming to standardize donation behavior, approval processes, and fulfill social responsibilities [1][8] - The system applies to the company and its subsidiaries, ensuring that donations are voluntary and unrelated to business operations [1][2] Group 1: General Principles - External donations must be voluntary and cannot require recipients to provide advantages in financing, market access, or other resources [4] - Donations should be made within the company's financial capacity, avoiding contributions that could lead to losses or affect normal operations [4][5] - A strict internal decision-making process is required for all donations, with significant contributions needing collective approval from the leadership [4][7] Group 2: Management and Oversight - The financial management center is responsible for daily management of donation activities, including budget preparation and compliance with internal decision-making procedures [2][6] - Internal audit and discipline departments must enhance supervision of donation activities, identifying issues in management and compliance [2][3] - The company will conduct regular checks on subsidiaries' donation management practices, addressing any non-compliance [3][5] Group 3: Donation Procedures - Donations must be made through legally established charitable organizations or government departments, and personal donations by employees are prohibited [5][6] - The company must include donation expenditures in its annual budget and provide detailed reports on donation activities [6][8] - Donations exceeding 5 million yuan or a total of 10 million yuan in a year require approval from the shareholders' meeting [7][8]

华夏时报（www.chinatimes.net.cn）记者 刘昱汝 徐芸茜 北京报道 2025年的A股市场，并购重组正以超预期的速度掀起新一轮浪潮。 据Wind数据显示，截至5月12日，年内A股上市公司新增66单重大资产重组，同比增长144.44%。这一数据不仅反 映了市场并购活动的活跃程度，也预示着企业转型升级、产业整合的步伐正在加快。 值得一提的是，上述66单重大资产重组中，有7单为央企控股上市公司重组，8单为地方国有上市公司重组。 湖南汽车工程职业大学产教融合研究院执行副院长、中国企业联合会特约高级研究员刘兴国在接受《华夏时报》 记者采访时表示，今年以来，资本市场重大重组事项显著增加，这和当前发展环境和企业发展战略调整有关。一 方面，多年增长缓慢导致的经营压力，使得不少企业寻求通过重组整合寻求新机遇，为市场提供了丰富的重组机 会与空间；另一方面，随着"十四五"规划收官与"十五五"规划布局交替，企业战略调整步伐加快，并购重组需求 激增，双向推动之下，资本市场迎来了重大重组整合的新高潮。 "重组整合具有周期性波动特征，特殊事件往往能加速其增长，但浪潮过后，市场或将进入并购重组相对沉寂的阶 段。"刘兴国表示。 ...

Core Viewpoint - Jiangsu Farsen Co., Ltd. reported a significant decline in revenue and net profit for 2024, with a focus on improving operational performance through new product development and expansion into new business areas [2][3]. Financial Performance - In 2024, the company achieved an operating income of 312 million yuan, a decrease of 29.97% year-on-year - The net profit attributable to shareholders was -106 million yuan, marking a shift from profit to loss - Revenue from the metal products business and environmental business was 225 million yuan and 87.59 million yuan, respectively, representing declines of 10.74% and 54.90% year-on-year [2]. Business Development Strategies - The company aims to enhance its metal products segment by researching and developing high-margin new products - In the environmental sector, the company is exploring new avenues such as coal mine high-salinity water treatment - The subsidiary, Dalian Guantaiyuan Environmental Technology Co., Ltd., is expanding into construction waste classification and large-item waste treatment projects [3]. Operational Updates - The coal mine high-salinity water treatment project is expected to stabilize water output by May 2025, which will alleviate operational pressure on Guantaiyuan [3]. - The company is focusing on pricing strategies, raw material price fluctuation responses, and competitive advantages in its metal products business [4]. Competitive Positioning - The company is enhancing product value and lifespan by developing special high-strength steel wires - Long-term agreements with suppliers are being established to mitigate risks associated with raw material price fluctuations [4]. Industry Insights - Experts suggest that manufacturing companies can enhance market competitiveness through technological research and digital transformation - There is potential for Farsen to integrate its products into downstream processes and collaborate with industry chain enterprises to create comprehensive environmental treatment solutions [5].

图为国网兰州新区供电公司员工在110千伏耀望变电站，协助客户开展安全用电检查。 史双绚/摄 这样的"电力速度"，正是国网兰州新区供电公司赋能产业发展的生动注脚。国网兰州新 区供电公司营销部五级职员陆晓军向记者回忆了耀望变电站的诞生轨迹——2023年7月提前 接通临时电，2024年3月接到13.5万千伏安正式用电申请后，48小时内完成供电方案设计， 系统接入审批流程提速60%。最令人惊叹的是：原定2025年4月8日的送电节点，硬是被压缩 至4月1日凌晨。"那天凌晨1点，我们裹着军大衣在变电站盯着仪表，直到所有指示灯转绿才 敢松口气。"陆晓军揉了揉被风吹眯的眼睛，仿佛那夜的寒风仍萦绕指尖。 图为国网兰州新区供电公司员工在甘肃耀望化工有限责任公司了解客户最新用电需求， 并开展安全用电检查。史双绚/摄 这场"与时间赛跑"的底气，源于三年前的前瞻布局。2023年初，当耀望化工的项目规划 图还躺在设计院档案室时，供电公司已联合兰州新区管委会协同开展园区电网规划研究。 330千伏红乐变电站如同巨人的心脏，将澎湃电流泵送至园区每个角落。 "我们给这片区域预留了五年的负荷增长空间。"站在红乐变电站站内，石培杰指向站外 塔吊林立 ...

Core Viewpoint - Tianjin's ecological environment protection enforcement team is innovating a new model of legal education by integrating enforcement departments with industry associations to enhance the quality and effectiveness of legal education, thereby optimizing the legal business environment [2][11]. Group 1: Legal Education Model - The enforcement team has implemented a "three transformations" approach to improve legal education from "dimension" to "precision" and from "breadth" to "depth" [2][11]. - In the first quarter of 2025, the enforcement team completed legal education for 1,255 enterprises across the city [3][12]. Group 2: Collaborative Mechanism - A "three-level linkage mechanism" has been established, involving the enforcement team, specialized task forces, and industry associations to enhance legal education effectiveness [3][13]. - A dedicated "ecological environment legal education team" has been formed with 20 professionals to manage the entire process from demand research to course design and evaluation [3][13]. Group 3: Demand Mapping - The enforcement team has conducted face-to-face communications and back-to-back research with nine industry associations, covering 1,115 enterprises to create a "legal education demand map" [4][14]. - Since the launch of the new model, over 660 enterprises have received various forms of legal education from the nine associations [4][15]. Group 4: Innovative Service Models - The enforcement team has developed a "1+N" legal education matrix, combining online and offline methods to create a new legal education framework [5][16]. - Initiatives such as "Safety Production into Hundreds of Enterprises" and "Blue Sky Defense War Training" have been launched, providing immersive training to over 200 hazardous chemical enterprises [5][16]. - Future plans include offering "appointment-based legal education" services, allowing enterprises to select training topics and request expert visits, enhancing the precision and satisfaction of legal services [5][16].

Core Viewpoint - The article provides guidance on the operation of the Environmental Protection Tax, specifically focusing on noise tax source collection and declaration procedures in the electronic tax system [1]. Summary by Sections Tax Source Collection - Taxpayers need to select "Environmental Protection Tax" and click to add the tax card. Then, they must navigate to the tax source detail collection interface [3]. - In the pollution category, taxpayers should check the "Noise" option and fill in other relevant details before clicking "Add Tax Source" [3]. Filling Rules - The taxpayer identification number and name are automatically populated by the system [4]. - Taxpayers must indicate whether they are filing on a per-instance basis and whether they have overseas projects or centralized sewage treatment facilities [4]. - If applicable, the pollutant discharge permit number must be filled in, and if not, the option for "No Discharge Permit" should be selected [4]. - The pollution category must include "Noise" to proceed with the tax source information collection [4]. Tax Declaration Steps - Taxpayers must click "Declaration Calculation" in the tax source detail collection interface to enter the declaration calculation and exemption information [6]. - They need to confirm whether they are filing on a per-instance basis and ensure the tax period is correct before submitting the declaration [7]. Noise Monitoring and Calculation - The system automatically brings up the noise period (day or night) based on the month, and if a noise source exceeds limits during both periods, both should be checked [8]. - Actual monitored decibel levels must be recorded, rounding to the nearest whole number [9]. - If noise exceeds limits for less than 15 days, taxpayers should indicate "Yes"; if it meets or exceeds 15 days, indicate "No" [10]. - For multiple noise exceedances along a boundary exceeding 100 meters, taxpayers should check "Yes"; otherwise, check "No" [11]. Tax Amount Calculation - The unit tax amount is filled in according to the applicable tax rates specified in the Environmental Protection Tax Law [12]. - The current tax amount is calculated based on whether the exceedance was less than 15 days and the number of exceedances [13]. - The amount to be supplemented or refunded is automatically calculated by the system [14].

登录新浪财经APP 搜索【信披】查看更多考评等级 债券代码：128141 债券简称：旺能转债 旺能环境股份有限公司关于向全资子公司提供贷款担保的进展公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 一、对外担保概述 2024年12月24日，旺能环境股份有限公司(以下简称"公司")和攀枝花农村商业银行股份有限公司仁和支 行(以下简称"农村商业银行")签署了《保证合同》，为公司的全资子公司攀枝花旺能环保能源有限公司 (以下简称"攀枝花旺能")向农村商业银行申请的2亿元人民币的固定资产借款提供连带责任保证，借款 期限为144个月。保证期间为主债权债务合同约定的债务履行期届满之日起三年。详细信息见公司刊登 于2024年12月26日《证券时报》《证券日报》及巨潮资讯网上的《关于向全资子公司提供贷款担保的进 展公告》(2024-102)。 二、担保进展情况 2025年5月12日，攀枝花旺能与农村商业银行签署《固定资产借款合同补充协议》，此协议是基于双方 在2024年12月24日签署的《固定资产借款合同》（原合同编号：1318012024008851）上进行调整：其中 ...

Group 1: Strategic Planning and Performance - The company aims to complete its "14th Five-Year Plan" by 2025, focusing on achieving strategic goals related to carbon neutrality and low-carbon transformation [2][3] - By the end of 2024, the total installed capacity is expected to reach 23.73 million kW, doubling from 2020, with gas sales reaching 3.345 billion cubic meters, also doubling from 2020 [3] - The company has initiated the "15th Five-Year Plan" preparation, with a focus on high-quality development and innovation [3][4] Group 2: Financial Performance - In 2024, the company achieved a revenue of 41.214 billion RMB, a 1.75% increase year-on-year, with the power segment contributing 62.25% of total revenue [4][5] - The profit margin for the power segment decreased due to falling coal prices, with coal-fired power revenue dropping by 26.50% [4][5] - The gas segment saw a significant revenue increase of 48.29%, reaching 5.376 billion RMB, driven by higher demand from downstream users [5][6] Group 3: Capital Structure and Financing - The company successfully raised 5 billion RMB through equity financing to support its environmental business [6][7] - It issued 1.79 billion RMB in asset-backed commercial paper (ABCP) to improve cash flow and optimize debt structure [6] - The company is focused on reducing financing costs and enhancing capital efficiency through various financial instruments [6][7] Group 4: Market Challenges and Strategies - The company is facing increased competition in the Guangdong electricity market, with plans to optimize marketing strategies to enhance market share [8][9] - It aims to strengthen its risk management framework for overseas investments, focusing on legal compliance and market research [8][9] - The company is exploring innovative technologies, including AI, to improve market competitiveness and operational efficiency [9][10] Group 5: Environmental and Social Responsibility - The company is committed to building a low-carbon city in Shenzhen, with projects aimed at integrating renewable energy and smart technology [12][13] - It operates 42 waste incineration power plants, processing over 50,000 tons of waste daily, positioning itself as a leader in the environmental sector [15][16] - The company emphasizes the importance of social responsibility and sustainable development in its operational strategies [15][16]

Group 1 - The Hong Kong delegation, consisting of 40 members, visited Hainan to explore cooperation opportunities in various fields, particularly in urban planning, ecological protection, and cultural heritage revitalization [2][3] - A cooperation memorandum was signed during the Boao Forum, focusing on five key areas, including talent exchange, to enhance collaboration between Hainan and Hong Kong [2] - The delegation expressed a strong interest in the application of new technologies, talent training, energy conservation, and ecological management in the construction and environmental protection sectors [2][3] Group 2 - Suggestions were made to establish a joint expert committee for ecological cities and a cross-border green technology incubation fund to support collaborative research and development in construction technologies [3] - The delegation proposed a mechanism for civil servant exchanges to enhance efficiency in project management and engineering supervision, leveraging Hong Kong's mature experience [3] - The "Hong Kong Certification Recognition" policy in Hainan currently covers 45 professional qualifications from Hong Kong, with recommendations to expand this to attract more talent for the Hainan Free Trade Port development [3]

Core Viewpoint - The Shanghai Stock Exchange's main board shows strong resilience and stability in 2024, supported by a series of incremental policies, with significant growth in net profits and operational cash flow recovery [1][2]. Financial Performance - In 2024, the main board companies achieved a total operating income of 49.57 trillion yuan, maintaining stability year-on-year; net profit reached 4.35 trillion yuan, with a year-on-year growth of 1.9% [1]. - The annual performance trend was characterized by a decline in net profit of 1% in the first half, followed by a significant recovery with a 5% increase in the second half [2]. - Operating cash flow improved significantly, with a year-on-year growth of 15% in the fourth quarter, restoring to the previous year's level [2]. Industry Transition - Over the past decade, the leading industries on the main board have shifted from traditional sectors like finance and energy to emerging sectors such as automotive and biomedicine, with market capitalization in these sectors reaching 2 trillion yuan and 1.5 trillion yuan respectively [3]. - The proportion of emerging industry companies among the top 50 by market capitalization has increased to 50%, indicating a significant rise in both quantity and market share [3]. Emerging Industries Growth - The number of companies in emerging industries has risen to 40% over the past decade, with net profit compound growth reaching 11%, outperforming traditional industries by 5 percentage points [4]. - Emerging industries are driving the transformation of the economy towards high-quality development, fostering innovation and enhancing the value chain [4]. Corporate Governance and Efficiency - As of 2024, 946 companies on the main board have disclosed "quality improvement and efficiency enhancement" action plans, with nearly 60% of these companies achieving profitability [5]. - The overall dividend scale reached a new high in 2024, with 1,259 companies declaring cash dividends totaling 1.77 trillion yuan, a year-on-year increase of 6% [6]. Market Dynamics - The number of companies implementing share buybacks and major shareholder increases has doubled, with buyback plans disclosed by 400 companies and shareholder increase plans by 380 companies [7]. - The total amount for buybacks and increases reached 843 billion yuan and 537 billion yuan respectively, indicating strong market confidence [7]. Mergers and Acquisitions - In 2024, over 1,500 new merger transactions were recorded on the main board, with a total transaction value exceeding 1.4 trillion yuan, reflecting increased market activity [9]. - The core logic of mergers and acquisitions remains focused on industrial integration and enhancing competitive advantages, with traditional industries restructuring assets and emerging industries expanding their technological capabilities [10]. Capital Market Efficiency - Mergers and acquisitions are seen as key tools for optimizing resource allocation in the capital market, enhancing efficiency and vitality [11]. - Successful restructuring cases can boost investor confidence and attract long-term capital, contributing to the overall improvement of the capital market [11].