Core Viewpoint - The Guangdong market supervision system emphasizes credit repair as a new regulatory mechanism that balances punishment and correction, aiming to maintain market order while allowing businesses to recover from credit issues [1][2]. Group 1: Credit Repair Mechanism - Guangdong has introduced ten typical cases showcasing the effectiveness of the credit repair mechanism, where businesses that made minor mistakes were able to restore their credit status after rectification [2]. - The establishment of an "online + offline" repair channel through the "Yue Shang Tong" app allows businesses to submit repair requests easily, significantly reducing institutional costs and making credit repair more accessible [2]. - As of May 28, 2025, Guangdong's market supervision system has repaired credit information for 3.4223 million business entities and 108,700 entities on the serious violation list, leading to substantial economic and social benefits [2]. Group 2: Long-term Implications - The credit repair initiative encourages businesses to view credit as a valuable asset, promoting compliance with laws and regulations, which contributes to a healthier market environment [3]. - The publication of credit repair cases serves as a warning and educational tool for other businesses, highlighting the importance of maintaining credit integrity while also providing opportunities for correction [3]. - There is a need for a balanced "punishment-repair" dynamic mechanism in credit regulation, ensuring that severe violations are still met with strict consequences while allowing for recovery in less severe cases [3].

Core Viewpoint - The company, Jiadu Technology, has announced the initiation of preparations for issuing H-shares and listing on the Hong Kong Stock Exchange to enhance its international competitiveness and brand image [1][2]. Financial Performance - In 2022, 2023, and 2024, Jiadu Technology reported revenues of 5.336 billion, 6.228 billion, and 7.949 billion respectively, indicating a growth of 27.64% from 2023 to 2024 [2][3]. - The net profit attributable to shareholders for the same years was -262 million, 39.5 million, and -115 million, showing a significant decline of 129.1% in 2024 compared to 2023 [2][3]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -40.37 million in 2022, -33.56 million in 2023, and 23.51 million in 2024, indicating a recovery in 2024 [2][3]. - The net cash flow from operating activities improved from -188.86 million in 2022 to 180.43 million in 2024, reflecting a significant turnaround [2][3]. Strategic Initiatives - The board of directors has authorized the management to start the preparatory work for the H-share listing, which is part of the company's broader internationalization strategy [1][2]. - The company plans to discuss specific details of the H-share listing with relevant intermediaries, although no concrete details have been finalized yet [1]. Regulatory Considerations - The H-share listing is subject to approval from the board, shareholders, and regulatory bodies such as the China Securities Regulatory Commission and the Hong Kong Stock Exchange, indicating potential uncertainties in the process [2].

Group 1 - The Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange have launched a "Green Channel" for specialized technology companies to facilitate their listing process [1] - The initiative aims to accelerate the listing review cycle by approximately 30% for companies registered through the "Tech Enterprise Line," particularly benefiting sectors like biotechnology and AI [11] - The next five to ten years are referred to as the "Golden Era of Hong Kong's Innovation and Technology," supported by policies and capital influx [3] Group 2 - Hong Kong serves as a crucial link to global markets for mainland entrepreneurs, making it a preferred location for international business expansion [3] - The region is experiencing significant policy benefits, including the expansion of research funds and the allocation of 150 hectares of land for innovation and technology in the Northern Metropolis area [3] - Tax incentives include a reduced profits tax rate of 8.25% on the first HKD 2 million, compared to the mainland's 25%, and a 200% tax deduction on R&D expenditures [13] Group 3 - The registration process for Hong Kong companies can be completed online within three working days, eliminating the need for physical presence in Hong Kong [9] - Professional registration services offer comprehensive support, including handling government correspondence and compliance matters, which is particularly beneficial for first-time registrants [8][6] - Companies must ensure compliance with annual renewal of business registration certificates and accurate tax reporting to avoid penalties [13]

Core Viewpoint - The integration of VR and LBE technology in cultural tourism is creating new immersive experiences, exemplified by the "No-Face God - Dazu Rock Carvings Take You Back to the Southern Song" VR experience in Tianjin, which has become a new hotspot for cultural consumption [1] Group 1: Technology and Innovation - The VR experience allows visitors to immerse themselves in the historical context of the Southern Song dynasty, with 1:1 precision digital replicas of classic sculptures like the Thousand-Handed Guanyin and Six Paths of Reincarnation [1] - The project utilizes LBE technology to support up to 20 participants simultaneously, enhancing the collaborative exploration of history [1] - The company has integrated core technologies such as software development, system integration, and cloud computing to create a seamless multi-user experience [1] Group 2: Cultural Significance - The project emphasizes the deep cultural connotations of the Dazu Rock Carvings, which are recognized as one of the world's eight major grottoes, reflecting ancient aspirations for a better life [1] - Historical accuracy is prioritized in the design, with attention to the tools used by artisans and the carving process, ensuring that every detail withstands scrutiny [1] - Engaging storylines are incorporated into the experience to enhance visitor engagement and interest [1] Group 3: Economic and Developmental Impact - The successful implementation of immersive cultural consumption scenarios offers new ideas for cultural heritage protection and the development of new consumption models [1] - The fusion of technology and culture is continuously generating innovative consumption scenarios, injecting vitality into urban development in Tianjin [1]

General Principles - The company establishes a system to enhance management of subsidiaries, ensuring effective control and operation mechanisms to promote standardized operations and healthy development of subsidiaries, thereby improving overall operational efficiency and risk resistance [1] - A subsidiary is defined as a company where the parent company holds more than 50% of the equity or can control the board of directors through agreements or other arrangements [1] Management of Major Matters - The company exercises management rights over major matters of subsidiaries, including capital changes, external investments, asset disposals, mergers, and amendments to the subsidiary's articles of association [2] Standardized Operations - Subsidiaries must operate according to the standards of listed companies and comply with relevant laws and regulations, establishing internal control systems based on their operational characteristics [5][6] Governance Structure - Subsidiaries are required to establish a sound governance structure, including shareholder meetings, boards of directors, and supervisory boards, in accordance with legal requirements [6] Investment and Decision-Making Management - Subsidiaries must align their operational and development plans with the overall strategy of the parent company, ensuring that investment decisions are systematic and risk-controlled [10][11] - Specific thresholds for reporting significant transactions to the board are established, including asset transactions exceeding 10% of total assets or market value [13][14] Financial Management - The company's finance department oversees the accounting and financial management of subsidiaries, ensuring compliance with accounting standards and timely reporting of financial information [12][13] Internal Audit and Supervision - The company conducts regular audits of subsidiaries to ensure compliance with laws and internal regulations, with a focus on financial performance and management practices [37][38]

浙江六和律师事务所 关于苏州天准科技股份有限公司 差异化分红事项的 法律意见书 浙六和法意（2025）第 0800 号 致：苏州天准科技股份有限公司 浙江六和律师事务所（以下简称"本所"）受苏州天准科技股份有限公司（以 下简称"公司"）委托，就公司 2024 年度权益分配实施差异化分红事项（以下 简称"本次差异化分红"）进行核查并出具本法律意见书。 本所律师承诺已履行法定职责，遵循了勤勉尽责和诚实信用原则，对公司实 施本次差异化分红行为的合法合规性进行了充分的核查，保证本法律意见书不存 在虚假记载、误导性陈述或重大遗漏。 本所律师同意公司将本法律意见书作为公司本次差异化分红的必备文件，随 其他材料一起报送上海证券交易所，并依法对此承担相应的法律责任。 本法律意见书仅供公司实施本次差异化分红之目的使用，未经本所律师书面 同意，不得用于其他任何目的。 基于上述，本所律师发表法律意见如下： 一、本次差异化分红的原因 于以集中竞价交易方式回购公司股份的方案》，同意公司以集中竞价交易方式回 购公司股份，回购资金总额不低于人民币 3,000 万元（含），不超过人民币 6,000 万元（含），回购价格不超过人民币 35.0 ...

据福建省科学技术厅官网发布，福建省科学技术厅关于常态化征集科技创新主体融资需求的通知。通知 指出，我厅已依托福建省金融服务云平台(以下简称"金服云"平台)建成科技创新主体融资需求库。为满 足科技型企业、科技创新平台等各类科技创新主体的科技融资需求，推动更多科技创新主体享受科技金 融相关政策，现面向全省科技型企业、科技创新平台常态化征集融资需求。"金服云"平台科技创新主体 融资需求库将长期常态化面向各类科技创新主体开放融资需求填报功能，各类科技创新主体可以随时登 录平台填报融资需求。 ...

除了高效对接，"智者"2.0的核心竞争力还在于其推理研判能力的质的飞跃。在企业需求挖掘上， 它不再局限于识别企业当前技术难题，而是能前瞻性地依据企业发展轨迹和未来产业趋势，预判其未来 发展中可能产生的潜在需求。 截至目前，杭州技术转移转化中心已利用"智者"大模型成功撮合包括之江实验室、天目山实验室、 北航杭研院、西电杭研院等在内的1100余个优质项目与近万家企业进行匹配沟通，推动110余项科技成 果在杭州落地转化。 值得一提的是，这是自2024年3月杭州发布国内首个成果转化领域大模型——"智者大模型1.0"以 来，杭州推进科技成果转移转化首选地建设的又一有力举措。 全国挖技术、找专家，为什么总是对不上号？面对企业打破地域限制、在全国范围高效锁定优质技 术与专家的迫切需求，"智者"2.0的企业数据库不再局限于杭州，已覆盖浙江省内10万家企业，并加速 向全国延伸。这意味着，全国范围内的技术、需求和人才都能实现高效互联。 高效互联的背后，是一个庞大的知识网络。升级后的"智者"2.0，其科技成果库规模已突破80万 项，企业需求预测超130万项。同时，线上还有6万名专家、6000家科研机构、7.5亿篇论文期刊、1.5亿 ...

Core Viewpoint - The article discusses the concept of "Youth-Friendly Cities" or "Z Cities," which are designed to attract and retain young talent by offering vibrant economies, diverse cultures, and affordable living costs [3][12][13]. Group 1: Characteristics of Z Cities - Z Cities embody a lifestyle that is energetic, culturally diverse, and conducive to the development of young people, ensuring that their enthusiasm and talents are not wasted [3][4]. - The essence of Z Cities is a blend of architecture, nature, poetry, and music, rejecting monotony and awakening the potential of life [4][5]. - The creation of Z Cities involves understanding the feelings of young people, making their happiness a priority, and ensuring tangible experiences that foster a sense of belonging [5][6]. Group 2: Competition for Young Talent - The number of university graduates in 2025 is projected to be 12.22 million, prompting cities to compete for these young talents through various policies [7]. - Cities like Xi'an, Wuhan, Chengdu, and Hangzhou have emerged as key players in the "talent war," implementing policies to attract young professionals [8][12]. - Recent policies in major cities like Beijing and Shenzhen include offering free short-term rentals to new graduates, reflecting a shift towards more attractive living conditions [9][10]. Group 3: Defining Youth-Friendly Cities - The concept of "Youth-Friendly Cities" has gained traction globally, with cities needing to cater to the preferences of young people to harness their potential [13][14]. - The characteristics of youthful cities include being connected, dynamic, open, curious, inventive, and playful, focusing on the core dimensions of living, working, and leisure [14]. - Various rankings and evaluations, such as the Youthful Cities Index and domestic assessments, highlight cities that excel in innovation, vitality, and quality of life, with Guangzhou, Beijing, and Shanghai ranking highly [15]. Group 4: Young People's Preferences - Young people are increasingly seeking cities that meet both their material and spiritual needs, with a focus on affordability, convenience, and cultural vibrancy [20][21]. - A survey indicated that 82.10% of respondents are considering relocating to more livable cities, emphasizing the importance of housing prices, transportation, and healthcare [20][21]. - Cities that successfully address these dual needs, like Chengdu with its innovative use of urban spaces for community engagement, are more likely to attract and retain young residents [22][23][24].

Core Viewpoint - The future of global trade order is precarious as the deadline for the suspension of "reciprocal tariffs" by the Trump administration approaches, with China firmly opposing any compromises that sacrifice its interests for U.S. tariff reductions [1][3]. Group 1: China's Stance - China’s Ministry of Commerce has issued a strong statement against unilateral U.S. tariffs, labeling them as "naked unilateral bullying" that undermines multilateral trade systems and international order [1][3]. - China has drawn a clear red line, stating it will not accept any deals that sacrifice its interests for U.S. concessions, warning countries against using Chinese interests as bargaining chips in negotiations with the U.S. [3][9]. - The Chinese government has recognized attempts by other nations to align with U.S. interests at the expense of China, indicating that any such actions will face strong countermeasures from China [3][10]. Group 2: International Reactions - Japan is reportedly considering accepting some U.S. conditions to break trade deadlocks, which could lead to a deeper binding of the rare earth supply chain with the U.S., potentially targeting China [3][5]. - The European Union is experiencing similar pressures, with some countries willing to compromise to avoid escalating trade conflicts with the U.S., while others remain resistant [5]. - Germany's recent actions against the Chinese tech company DeepSeek, framed as data protection measures, are viewed as a strategic move to align with U.S. interests, highlighting the complexities of international trade dynamics [5][9]. Group 3: U.S. Position - Despite some softening in Trump's stance towards China, this may not indicate a genuine desire for de-escalation but rather a tactical move to facilitate negotiations [7]. - The core of trade negotiations remains centered on actual interests, with China emphasizing the importance of maintaining a multilateral trade system and warning against opportunistic behaviors from other nations [9][10].