Group 1 - High-level opening is seen as a "promoter" for mutually beneficial cooperation between China and the world, with a focus on aligning with international high-standard economic and trade rules by 2025 [1] - The Central Economic Work Conference identified "maintaining openness and promoting multi-field win-win cooperation" as a key task for China's economic work in the coming year [1] - There is a continuous emergence of new growth drivers in the Chinese economy, with foreign investment seizing high-quality development opportunities [1] Group 2 - Multinational companies are increasingly viewing China as a global innovation testing ground, with significant R&D centers established in the country [2] - The rapid industrial upgrade and green transformation in China are attracting foreign investment, as companies seek to deepen their roots in the Chinese market [2] - The actual use of foreign capital in high-tech industries reached 221.26 billion RMB, accounting for over 30% of the total foreign capital used [3] Group 3 - China's foreign trade showed resilience, with a total import and export value of 41.21 trillion RMB in the first 11 months of 2025, a year-on-year increase of 3.6% [5] - The number of newly established foreign-invested enterprises in China exceeded 60,000 in the first 11 months of the year, a 16.9% increase year-on-year [3] - China has continuously increased imports from the least developed countries, with a cumulative increase of over 55 billion RMB in imports over the past year [5] Group 4 - The Hainan Free Trade Port has seen significant growth, with 1,972 new foreign trade registered enterprises in its first week of operation, a 2.3-fold increase [7] - A series of institutional opening measures are set to be implemented in 2025, including the introduction of 20 measures to stabilize foreign investment [7] - The signing of the upgraded version of the China-ASEAN Free Trade Area 3.0 agreement marks a shift towards "institutional opening" [8]

12月29日晚万邦德（002082）公告称，全资子公司万邦德制药集团有限公司的新药WP107(石杉碱甲口 服溶液)治疗重症肌无力的I期临床试验，获得了温州医科大学附属第二医院温州医科大学附属育英儿童 医院医学伦理委员会的审查批件，批准项目开展。 万邦德表示，此次临床试验获得临床单位伦理审查批件后，短期内对公司经营业绩不会产生重大影响， 公司将按照相关规定和要求继续开展临床试验。公司将积极推进上述研发项目，并严格按照有关规定及 时对项目后续进展情况履行信息披露义务。 经营总部位于浙江台州的万邦德，聚焦医药制造和医疗器械大健康产业，产品涉及心脑血管、神经系 统、呼吸系统、消化系统和精神系统等多个治疗领域。 值得一提的是，在神经系统领域，万邦德的石杉碱甲注射液，是作为改善痴呆患者及脑器质性病变所致 记忆障碍、良性记忆障碍和重症肌无力的一线用药。其核心成分石杉碱甲为国内外首创药物，荣获国家 技术发明奖二等奖、国家自然科学二等奖，更在全球布局获得美国、欧洲、日本等多国专利。 公告显示，万邦德于2023年12月获得美国食品药品监督管理局(FDA)授予的石杉碱甲治疗重症肌无力的 孤儿药认定；WP107(石杉碱甲口服溶液)用 ...

Group 1 - The announcement clarifies the tax deduction rules for advertising and promotional expenses for specific industries, including cosmetics, pharmaceuticals, and non-alcoholic beverages, allowing deductions up to 30% of annual sales revenue [3] - For related enterprises that have signed cost-sharing agreements, advertising and promotional expenses can be deducted by either party within the allowable limit, with specific provisions for how these expenses are accounted for [3] - Tobacco companies are explicitly prohibited from deducting advertising and promotional expenses when calculating taxable income [3] Group 2 - The new regulations will be effective from January 1, 2026, to December 31, 2027, replacing the previous announcement from 2020 [3][4]

12月26日晚间，证监会对上市公司长江医药控股股份有限公司（下称*ST长药）涉嫌定期报告等财务数据存在虚假记载作出行政处罚事先告知。证监会 还将对中介机构执业情况同步开展核查。 此前，公司已于11月7日被证监会立案调查。从立案调查到出具告知书仅用一个月，体现出监管效率进一步提升。据统计，今年触及重大违法强制退市 公司数量已创历年新高。 由于*ST长药涉嫌触及重大违法强制退市情形，深交所将依法启动退市程序。公司股票于12月29日（星期一）起被叠加实施退市风险警示。 12月26日，*ST长药收跌3.92%，每股报1.47元，总市值5.1亿元。 连续三年财务造假 经查，*ST长药2021年、2022年、2023年连续三年虚增收入和利润，违反证券法律法规。证监会拟对公司罚款1000万元，对14名责任人合计罚款3100万 元，对公司原总经理罗明采取终身证券市场禁入措施，对当事人杨正辉采取10年证券市场禁入措施。 *ST长药前身为康跃科技，成立于2001年。2014年8月，公司在深交所创业板上市，彼时主营业务为内燃机零部件的研发、生产和销售。 2020年11月，*ST长药通过支付现金方式收购湖北长江星医药股份有限公司（下 ...

Group 1 - Nan Mining Group signed a procurement contract for iron ore equipment worth 3 billion yuan with Lanyan Weiye Mineral Processing Co., Ltd., for a project processing over 4.6 million tons of ore annually, with an estimated operational cost of 3 billion yuan over 10 years [1] - Guangdong Yuedian A's Dapu Power Plant Phase II Project's Unit 4 has commenced commercial operation, with a total investment of 8.122 billion yuan and an expected annual power generation of 9 billion kilowatt-hours [2] - China Energy Engineering's subsidiary won an EPC general contracting project in Shaanxi Province with a bid amount of approximately 6.864 billion yuan, covering ecological governance, infrastructure, urban renewal, and water conservancy projects, with a total construction period of 36 months [3] Group 2 - ST Dongtong's stock will resume trading on December 30, 2025, entering a delisting arrangement period of 15 trading days, with the last trading date expected to be January 21, 2026 [4] - Roman Co.'s subsidiary signed a contract for a computing power service project worth approximately 156 million yuan with Tianjin Maoyuan Equipment Leasing Co., Ltd. and China Merchants Intelligent Supply Chain Service Co., Ltd. [5] - Hangzhou Thermal Power plans to sign a three-year coal purchase contract with Shanghai Yitai Shenpu for a total of 9 million tons, ensuring stable coal supply from 2026 to 2028 [6] Group 3 - Caitong Securities received approval from the China Securities Regulatory Commission to publicly issue bonds totaling no more than 15 billion yuan [7] - Qipai Technology's application for a stock issuance to specific investors has been approved by the Shanghai Stock Exchange [8] - China Software plans to sell 555 units of X86 servers and two properties to optimize idle assets, with a total estimated value of approximately 6.758 million yuan [10] Group 4 - Xinhua Medical received medical device registration certificates for two products, including an interleukin-6 test kit and a dual test kit for procalcitonin/interleukin-6 [11] - Shandong Haohua announced the resignation of Deputy General Manager Yuan Falin due to personal reasons [12] - Haixiang Pharmaceutical's invested company NWRD06 injection has completed the enrollment of the first subject in its Phase II clinical trial [13] Group 5 - Tiantong Co. terminated the absorption merger of its wholly-owned subsidiary Tiantong Rijing Precision Technology Co., Ltd., retaining its independent legal status [14] - Ruima Precision's subsidiary received a project designation for automotive air suspension systems, with an estimated sales revenue of approximately 1.342 billion yuan over a six-year lifecycle [15] - Ningbo Huaxiang's subsidiary signed a strategic cooperation agreement with Qianxing Future to enhance collaboration in the development and manufacturing of quadruped robots [16] Group 6 - Huali Co. terminated the acquisition of a 51% stake in Zhongke Huilian due to failure to reach consensus on key transaction terms [17] - Acolyte's olefin copolymer has passed customer verification and is now in bulk supply for the optical lens sector [18] - Tianjian Technology signed a supplementary agreement for military product price adjustments, expecting a revenue reduction of approximately 256 million yuan [19] Group 7 - Southeast Network Framework won an EPC project bid for the "China Vision Valley Industrial Base" with a total bid amount of 888 million yuan [20] - Baodi Mining plans to acquire 87% of Congling Energy for a total of 685 million yuan through a combination of cash and share issuance [21] - Heng Rui Pharmaceutical received clinical trial approval for multiple drugs, including HRS-6257 tablets for treating acute and chronic pain [22] Group 8 - Zhongxin Saike received a dividend of 60 million yuan from its wholly-owned subsidiary [23] - ST Songfa's subsidiary signed a contract for the construction of an oil tanker with a total contract value of approximately 80 to 100 million USD [24] - China Resources Double Crane received clinical trial approval for hydroxocobalamin injection, aimed at treating metabolic disorders in children [25][26]

责任编辑：钟离 财经频道更多独家策划、专家专栏，免费查阅>> 财政部、税务总局现就广告费和业务宣传费支出税前扣除有关事项公告如下：一、对化妆品制造或销 售、医药制造和饮料制造（不含酒类制造）企业发生的广告费和业务宣传费支出，不超过当年销售（营 业）收入30%的部分，准予扣除；超过部分，准予在以后纳税年度结转扣除。 二、对签订广告费和业 务宣传费分摊协议（以下简称分摊协议）的关联企业，其中一方发生的不超过当年销售（营业）收入税 前扣除限额比例内的广告费和业务宣传费支出可以在本企业扣除，也可以将其中的部分或全部按照分摊 协议归集至另一方扣除。另一方在计算本企业广告费和业务宣传费支出企业所得税税前扣除限额时，可 将按照上述办法归集至本企业的广告费和业务宣传费不计算在内。 三、烟草企业的烟草广告费和业务 宣传费支出，一律不得在计算应纳税所得额时扣除。 四、本公告自2026年1月1日起至2027年12月31日 止执行。《财政部 税务总局关于广告费和业务宣传费支出税前扣除有关事项的公告》（财政部 税务总 局公告2020年第43号）自2026年1月1日起废止。 ...

Group 1 - The core point of the article is that Laimei Pharmaceutical (SZ 300006) held its 49th board meeting on December 29, 2025, via telecommunication to discuss the performance assessment plan for the leadership team in 2024 [1] - For the year 2024, Laimei Pharmaceutical's revenue composition is as follows: 84.09% from pharmaceutical manufacturing, 13.06% from pharmaceutical distribution, 1.64% from other businesses, and 1.21% from service income [1] - As of the report date, Laimei Pharmaceutical has a market capitalization of 5.6 billion yuan [1] Group 2 - The article also mentions a significant event involving Moutai distributors, where over 2,000 attendees gathered for a conference to discuss major changes related to Moutai's pricing and distribution strategies [1] - Chairman Chen Hua emphasized that distributors can no longer rely on passive income [1]

Core Viewpoint - The Ministry of Finance and the State Taxation Administration have announced that advertising and business promotion expenses for cosmetics manufacturing or sales, pharmaceutical manufacturing, and beverage manufacturing (excluding alcoholic beverages) can be deducted up to 30% of the annual sales revenue, with any excess allowed to be carried forward to future tax years [1] Group 1 - The new tax policy applies to specific industries: cosmetics, pharmaceuticals, and non-alcoholic beverages [1] - Companies in these sectors can benefit from a tax deduction on advertising and promotional expenses, enhancing their financial flexibility [1] - The policy aims to support growth in these industries by allowing significant deductions on marketing expenditures [1]

每经AI快讯，一品红（SZ 300723，收盘价：34.51元）12月29日晚间发布公告称，公司第四届第十六次 董事会会议于2025年12月29日以现场结合通讯表决的方式召开。会议审议了《关于召开2026年第一次临 时股东会的议案》等文件。 2024年1至12月份，一品红的营业收入构成为：医药制造占比96.78%，医药代理占比3.22%。 截至发稿，一品红市值为156亿元。 每经头条（nbdtoutiao）——直击茅台经销商大会：2000多人周末齐聚！重大变革公布：涉及茅台酒价 格、分销等，董事长陈华：经销商不能再"躺着赚钱" （记者 曾健辉） ...

Group 1 - The core point of the article is that Sai Sheng Pharmaceutical announced a board meeting to discuss financial support for its subsidiary, Junyuan Pharmaceutical, and provided details on its revenue composition for 2024 [1] - Sai Sheng Pharmaceutical's revenue for the year 2024 is primarily derived from the pharmaceutical manufacturing sector, accounting for 99.63% of total revenue, while other businesses contribute only 0.37% [1] - As of the report, Sai Sheng Pharmaceutical has a market capitalization of 5.2 billion yuan [1] Group 2 - The article also highlights a significant event involving Moutai's distributor conference, where over 2,000 attendees gathered to discuss major changes related to Moutai's pricing and distribution strategies [1] - Chairman Chen Hua emphasized that distributors can no longer rely on passive income, indicating a shift in the business model [1]