Core Viewpoint - The article discusses the implementation of a large-scale equipment update and consumer goods trade-in policy in 2026, focusing on support for electric vehicles, public transport, and agricultural machinery, with a total funding plan of 625 billion yuan allocated for these initiatives [1][7]. Group 1: Equipment Update Support - The policy continues to support the update of old operational trucks, prioritizing the replacement with low-emission electric trucks, following the subsidy standards set in previous notifications [2][10]. - There is a push for the electrification of urban public transport, with continued support for the update of new energy city buses and power batteries, adhering to the subsidy standards established in 2025 [3][10]. - Support for the scrapping and updating of old agricultural machinery will follow the subsidy standards outlined in the 2025 agricultural machinery update policy, allowing regions to optimize the types of machinery eligible for subsidies [4][11]. Group 2: Consumer Goods Trade-in Support - Personal consumers who scrap their registered passenger vehicles and purchase new energy vehicles or fuel vehicles with a displacement of 2.0 liters or less will receive subsidies, with 12% of the purchase price for new energy vehicles (up to 20,000 yuan) and 10% for fuel vehicles (up to 15,000 yuan) [5][13]. - For vehicle trade-ins, consumers will receive 8% of the purchase price for new energy vehicles (up to 15,000 yuan) and 6% for fuel vehicles (up to 13,000 yuan) [6][13]. - The policy includes support for the trade-in of household appliances, providing a 15% subsidy on the purchase price for energy-efficient appliances, capped at 1,500 yuan per item [14][15]. Group 3: Funding and Implementation - The funding for these initiatives will come from a special long-term bond plan, with the National Development and Reform Commission and the Ministry of Finance coordinating the allocation and management of these funds [7][19]. - The distribution of funds will consider factors such as population, GDP, and existing consumer goods ownership, ensuring a fair allocation across regions [13][20]. - Local governments are responsible for implementing the policies and ensuring that the funds are used effectively, with a focus on transparency and accountability in the management of subsidies [23][24].

2024年1至12月份，吉峰科技的营业收入构成为：农机流通占比92.33%，农机制造占比5.88%，载货汽 车占比1.8%。 每经AI快讯，吉峰科技（SZ 300022，收盘价：7.73元）12月29日晚间发布公告称，公司第六届第三十 七次董事会会议于2025年12月29日在公司四楼会议室召开。会议审议了《关于子公司申请银行授信的议 案》等文件。 截至发稿，吉峰科技市值为38亿元。 每经头条（nbdtoutiao）——绕开光刻机"卡脖子"，中国新型芯片问世！专访北大孙仲：支撑AI训练和 具身智能，可在28纳米及以上成熟工艺量产 （记者 曾健辉） ...

Core Viewpoint - The article emphasizes that Weichai Lovol is a benchmark for the development of China's agricultural machinery, transitioning from following traditional American giants to becoming a leader in the industry [4]. Group 1: Company Overview - Weichai Lovol, a subsidiary of Weichai Power (000338.SZ), is preparing for an IPO in Hong Kong after initially planning to list on the ChiNext board in 2022 [3]. - The company is the leader in China's agricultural machinery and smart agricultural machinery sectors, with a projected total revenue of 17.4 billion RMB in 2024, capturing 21.2% of the market share [5][6]. Group 2: Market Position - In the smart agricultural machinery sector, Weichai Lovol holds a market share of 46%, significantly ahead of its competitors [6]. - The company leads in various product segments, including tractors (22.6% market share), smart tractors (52.7%), and harvesting machinery (53.5%) [11]. Group 3: Financial Performance - Weichai Lovol's revenue from 2022 to 2024 is projected to be 15.95 billion, 14.68 billion, and 17.39 billion RMB, respectively, with tractors and harvesting machinery being the core products [13]. - The net profit (excluding non-recurring items) is expected to grow from 768 million RMB in 2022 to 956 million RMB in 2024, despite a relatively low net profit margin of around 5.5% [23][24]. Group 4: R&D and Competitive Advantage - The company has been increasing its R&D investment, with expenditures rising from 570 million RMB in 2022 to 839 million RMB in 2024, which is crucial for maintaining its competitive edge [23][29]. - Weichai Lovol has the largest R&D team in the industry, with over 2,500 members, 33.5% of whom hold master's degrees or higher [29]. Group 5: Market Opportunities - The agricultural machinery industry in China is expected to grow due to government emphasis on food security and the transition from traditional to modern agriculture [37]. - Weichai Lovol is positioned to lead the shift towards intelligent and modern agricultural practices, which presents significant growth opportunities [38].

Core Viewpoint - The "Binqi Chuang Shijie" initiative is actively promoting the international expansion of enterprises in Binzhou, with various departments working collaboratively to create platforms and solve problems for businesses [1][2]. Group 1: Government Initiatives - The municipal government emphasizes the importance of aligning with the central and provincial economic work meetings to set clear priorities for the upcoming year, aiming for a strong start in the "14th Five-Year Plan" [2]. - The government plans to enhance domestic demand and promote consumption and investment through various measures, contributing to a robust domestic market [2]. - A focus on industrial upgrading and the establishment of advanced manufacturing and new energy sectors is highlighted, aiming to create a modern industrial system [2]. Group 2: "Binqi Chuang Shijie" Action - The "Binqi Chuang Shijie" initiative has been instrumental in supporting enterprises to explore international markets through innovative mechanisms and resource integration [5][11]. - The initiative has led to significant media coverage, with 64 articles published across various platforms, showcasing the global competitiveness of Binzhou enterprises [6][8]. - The city has organized numerous trade activities, including 392 economic and trade matching events, facilitating connections between local businesses and international partners [11]. Group 3: Economic Development and Support - The municipal government has committed to implementing over 1,100 major projects with a total investment exceeding 1.4 trillion yuan, aiming for substantial economic growth by 2030 [4]. - The city is actively promoting policies to support small and medium-sized enterprises, including training sessions on export policies and market conditions [10][12]. - The local government has issued over 7,000 policy updates to support businesses, enhancing the understanding of available resources [12].

Investment Rating - The report suggests a positive outlook for the high-end equipment manufacturing industry in China, emphasizing a "dual-driven" growth model characterized by strong domestic demand and robust international expansion [3][5]. Core Insights - The high-end equipment industry in China is experiencing a structural transformation, with a focus on technological advancements and brand development, leading to increased global market share [3]. - The report highlights two main investment themes: the technological self-reliance driven by AI and the deepening international expansion of Chinese equipment manufacturers [4][5]. - Key sectors to watch include gas turbines, industrial mother machines, controlled nuclear fusion, quantum computing, robotics, and 3D printing, which are expected to drive future growth [4][41]. Summary by Sections Domestic Manufacturing and Investment - Manufacturing investment in China is under short-term pressure, but high-end manufacturing and equipment sectors are emerging as growth engines, with a 1.9% year-on-year increase in manufacturing fixed asset investment [15][19]. - The report notes that high-tech manufacturing and equipment manufacturing sectors maintain high levels of activity despite overall investment slowdowns [15][22]. Export Performance - China's high-end equipment exports are performing well, driven by the global AI investment boom and recovery in demand from developed markets [28][31]. - In the first ten months of 2025, China's exports of electromechanical products reached 13.43 trillion yuan, marking an 8.7% year-on-year increase [28][31]. Technological Self-Reliance - The report emphasizes the importance of technological self-reliance, particularly in sectors like gas turbines and quantum computing, which are expected to see significant growth due to increasing global demand [4][48]. - The global gas turbine market is projected to grow significantly, with sales expected to rise from 44.1 GW in 2023 to an average of 60 GW from 2024 to 2026, reflecting a 36% increase [49][50]. International Expansion - Chinese equipment manufacturers are poised for further international growth, particularly in emerging markets, with sectors like engineering machinery and agricultural equipment expected to see substantial export growth [5][41]. - The report highlights the potential for Chinese companies in the oil and gas equipment sector, particularly in the Middle East, where demand is expected to rise significantly [5][13].

12月25日，*ST新研(300159)公告，根据《新疆机械研究院股份有限公司重整计划》导致相关股东权益 发生变动，公司控股股东、实际控制人分别变更为新疆商贸物流（集团）有限公司（以下简称"新疆商 贸物流集团"）和新疆维吾尔自治区人民政府国有资产监督管理委员会。 据彼时公司在公告中介绍，新疆商贸物流集团是新疆维吾尔自治区人民政府国有资产监督管理委员会控 股并直接监管的自治区一级大型国有企业，系经新疆维吾尔自治区人民政府批准，以新疆国有资产投资 经营有限责任公司、新疆国际经济合作（集团）有限责任公司、新疆边疆宾馆有限责任公司三家公司为 基础整合而成，产业涉及涉外酒店、金融、矿产能源、煤炭、石油化工、铁路、物流园区、大宗商品贸 易、供应链集成服务等多项业务。截至2024年末，商贸物流集团总资产901亿元，净资产362亿元；2024 年实现营业收入86亿元；主体信用评级AAA。 基于*ST新研的原有产业结构，农机业务板块将通过共享商贸物流集团的集中采购平台、物流枢纽地位 和海关监管库、保税仓、期货交割库等稀缺资产，进一步降低*ST新研农机生产成本、拓展农机业务产 业链、推动农机电动化转型、拓展农机国内外市场并加强农 ...

12月24日，省委书记刘宁到安阳市龙安区、文峰区、内黄县，检查指导产业发展、文旅融合、农业生产等工作，强调要深入学习党的二十届四中全会和中央 经济工作会议精神，全面贯彻习近平总书记在河南考察时重要讲话精神，落实省委十一届十次全会和省委经济工作会议部署，大力弘扬红旗渠精神，汇聚起 促发展、强治理、惠民生的强大合力，确保"十四五"顺利收官、"十五五"良好开局。 刘宁还来到国家级文保单位和历史古迹，了解文物保护利用及文旅产业发展情况。他说，安阳文化底蕴深厚，要充分发掘利用殷商文化、古都文化资源，打 造精品旅游线路和知名文化地标，让文物活起来、动起来、火起来，大力弘扬中华优秀传统文化，真正把文旅产业发展为支柱产业。 今年我省秋播较晚，冬小麦后期田间管理尤为重要。在内黄县后河镇余庄村高标准农田，刘宁仔细检查小麦苗情墒情、田间管理情况，强调要扛牢粮食安全 政治责任，分区分类精准施策，适时浇水追肥，促进弱苗转壮苗，增加一二类苗比例，警惕干旱、冻害、病虫等风险，确保小麦安全越冬。 刘宁听取县区经济社会发展情况汇报，强调要实事求是、因地制宜，把省委十一届十次全会和省委经济工作会议部署转化为务实举措，推动经济社会平稳健 康发展。 ...

今年我省秋播较晚，冬小麦后期田间管理尤为重要。在内黄县后河镇余庄村高标准农田，刘宁仔细检查小麦苗情墒情、田间管理情况，强调要扛牢粮食安全 政治责任，分区分类精准施策，适时浇水追肥，促进弱苗转壮苗，增加一二类苗比例，警惕干旱、冻害、病虫等风险，确保小麦安全越冬。 刘宁听取县区经济社会发展情况汇报，强调要实事求是、因地制宜，把省委十一届十次全会和省委经济工作会议部署转化为务实举措，推动经济社会平稳健 康发展。当前元旦、春节将至，要精准施策深化冬季大气污染防治，严格执行安全生产、消防安全各项规定，全力保畅通、保供应、保民生，强化岁末年初 社会治理工作，切实做好社会公共安全保障，维护人民群众生命财产安全和社会大局稳定。 安阳市加快推动产业转型升级，为区域经济发展注入新动能。在位于龙安区的河南犀重新能源汽车有限公司，刘宁了解智能网联新能源商用车产业发展情 况，强调要加强研发投入，推进生产端、产品端全流程节能降碳，开发更多应用场景的绿色低碳交通工具，带动产业链协同发展。在位于文峰区的安钢南方 电磁新材料科技有限责任公司，刘宁察看生产车间，对企业推动钢铁产业转型的做法给予肯定，希望企业深化数智赋能，强化技术创新，加快高磁感 ...

近日，经国务院同意，国家发展改革委、商务部公开发布了《鼓励外商投资产业目录（2025年版）》 （以下简称2025年版《鼓励目录》）。为了解2025年版《鼓励目录》有关情况，记者采访了商务部有关 负责人。 问：能否介绍一下修订出台2025年版《鼓励目录》的背景情况？ 答：党中央、国务院高度重视利用外资工作。《中共中央关于制定国民经济和社会发展第十五个五年规 划的建议》提出，塑造吸引外资新优势，健全外商投资服务保障体系，营造透明稳定可预期的制度环 境。党的二十届三中全会明确提出，扩大鼓励外商投资产业目录。2024年政府工作报告也作出相应部 署。2024年，国家发展改革委与商务部启动了《鼓励目录》修订工作。在修订过程中，我们通过走访调 研、网上公开征求意见等方式，广泛听取并吸收了外商投资企业、外资商协会、行业协会、相关专家和 各有关部门、地方的意见。经国务院同意，国家发展改革委、商务部修订出台了2025年版《鼓励目 录》。 二是积极鼓励引导外资投向现代服务业。全国目录将促进生产性服务业发展作为修订重点。新增新材料 共性技术平台或服务平台运营、现代高端航运服务、虚拟电厂运营及相关技术研发等内容。同时积极支 持全面提振 ...

证券日报网讯12月19日，威马农机（301533）在互动平台回答投资者提问时表示，近年以来，公司坚持 不断加大研发投入，优化产品结构，提高产品质量和性能，以满足用户对高品质农机的需求；公司已布 局无人驾驶系列产品，个别产品将搭载远程遥控、自动驾驶等功能，目前试验机型相关详细信息请关注 公司在指定信息披露媒体披露的相关信息。 ...