当前市场在没有利空的情况下就容易上涨，两地市场均强势上行，港股今天跳空涨1.33%。 昨日诟病大金融不给力，今天就卷土重来，首当其冲是保险类，市场判断二季度普通型人身险产品预定 利率研究值或低于2.25%。7月初已有公司及时跟进市场利率变化，结合自身经营情况调整产品定价， 部分公司将于8月底完成新旧产品切换。这导致保险负债成本缓释：助推险企提高权益配置占比，支撑 超长债收益率下行。另外，监管层对保险业的考核标准也进行了调整，意味着保险公司可以更灵活的配 置非银行类的资产，从而不断提升收益率。今天中国人寿(02628)、中国太保(02601)等均涨超5%。 而证券股的催化则来自于稳定币，当地时间7月17日，美国国会众议院以308票赞成、122票反对的结果 通过了《指导与建立美国稳定币国家创新法案》，旨在对加密货币监管进行重大立法改革。该法案将提 交美国总统特朗普，预计将由特朗普签署成为法律。这意味着美国稳定币正式开启运营，全球最大稳定 币发行商Tether Holdings SA的首席执行官Paolo Ardoino日前宣布，该公司发行的USDT—全球最大的稳 定币—市值首次超过1600亿美元，并指出这是一个" ...

Group 1: Company Developments - Hong Kong Airlines has launched a free airport transfer service in collaboration with 永东直通巴士有限公司 and 日本阿拉丁集团, available until December 31, 2025, for passengers with valid boarding passes [1] - 京东币链科技 has reported that a fake digital currency named JD-HKD has been circulating on major trading platforms, clarifying that no such stablecoin has been issued and urging users to avoid scams [1] - 一亩田集团 has established an international business operation center in Hong Kong, marking the beginning of its global expansion, with active buyers from over 50 countries [2] - 宇树科技 has initiated its listing guidance with 中信证券 as the advisory firm, with its controlling shareholder holding 34.763% of the company [3] - 必和必拓 has announced that its Canadian potash project may exceed budget by $1.7 billion, with the first phase 68% complete and initial production now expected in mid-2027 [4] - 英国石油 has agreed to sell its onshore wind energy business in the U.S. to LS Power [4] - 比亚迪 has established a new sales service company in Jinan, fully owned by its subsidiary [4] - 小米 has officially opened its Shenzhen headquarters, marking its fourth regional headquarters in China [6] - 赛诺菲 has completed the acquisition of Blueprint Medicines for over $9 billion, including a rare disease drug that has been approved in the U.S. and EU [6] - 保泰人寿 has secured $70 million in Series C funding, led by 永明金融有限公司 [6] - 长石资本 has raised 728 million yuan for its hard technology fund, achieving over 50% IPO success rate across its investments [6] Group 2: Product and Partnership Announcements - 腾讯元宝 has integrated with QQ Music, allowing users to play music directly within the app [7] - Airwallex has formed a multi-year global partnership with Arsenal Football Club, becoming the official financial software partner [8] Group 3: Market Insights - The global cryptocurrency market has surpassed $4 trillion for the first time, with Bitcoin accounting for 59.91% of the total market cap at approximately $2.39 trillion [12]

投资者关系活动记录表 编号：2025-015 投资者关系活 动类别 ☑特定对象调研 □媒体采访 □新闻发布会 ☑现场参观 □分析师会议 □业绩说明会 □路演活动 □其他 参与单位名称 及人员姓名 交银施罗德、国盛证券、国泰海通 时间 2025 年 7 月 18 日 地点 公司会议室 上市公司接待 人员姓名 副总裁、董事会秘书周建林先生 投资者关系活 动主要内容介绍 一、介绍公司概况 现场调研的投资者参观了公司展厅、精密减速器工厂、增速器 智慧工厂等，公司副总裁、董事会秘书周建林先生向机构投资者简 要介绍了公司成长历程，重点介绍了企业的主营业务和核心产品以 及增速器智慧工厂建设的最新进展。 二、与投资者沟通和交流的主要问题 1、风电增速器制造有什么技术壁垒？ 答：风力发电机增速器是风力发电机组中机械动力传递的核心 装置（为主要承载部件），其设计、加工、装配有很高的要求，在 保证可靠性高、寿命长的条件下需要实现体积小、重量轻、维修方 便等要素。 增速器制作工序繁杂，每个部件在组装前都需要先进行多重工 序，在增速器设计时需考虑风机的实际工况，根据载荷谱，对增速 器零部件进行系统的精确计算和分析，并模拟实际工况进行严 ...

今日，港股三大指数今日跳空高开逾1%，盘中小幅回落午后再度拉升走高，市场情绪总体平稳向好。 截止收盘，恒生指数涨1.33%上扬超300点，国企指数、恒生科技指数分别上涨1.51%及1.65%，恒科指刷新4月以来新高。 | 代码 | 名称 | | 最新价 | 涨跌额 | 涨跌幅 | | --- | --- | --- | --- | --- | --- | | 800000 | 恒生指数 | (0 | 24825.66 | +326.71 | 1.33% | | D'EST MERICAL CHANGERY: 800100 | 国企指数 | | 8986.47 | +133.37 | 1.51% | | 800700 | 恒生科技指数 | | 5538.83 | +89.98 | 1.65% | 盘面上，大型科技股、大金融股等权重上涨助力大市走俏，其中，京东、阿里巴巴涨约3%，招商证券涨超4%，中国太平、中国太保涨超5%， 建设银行、招商银行、中国银行皆有涨幅。 生物医药股继续活跃，风电股拉升明显，软件类股集体强势，其中，金山云涨超8%。 现货黄金重回3340美元上方，黄金股全天表现活跃，带领有色金属股集体上涨 ...

Core Viewpoint - The Agricultural Bank of China’s Zibo Branch is actively integrating financial services with the development needs of the Yiyuan revolutionary area, focusing on major projects, infrastructure, small and micro enterprises, and characteristic industries to stimulate local economic growth and support rural revitalization [1]. Group 1: Major Projects - The Yiyuan Economic Development Zone is identified as a core engine for regional economic transformation, with the bank providing over 400 million yuan in loans to key industrial projects [2]. - A specialized service team was formed for the Huaren Wind Power project, completing a loan approval of 387.8 million yuan in just 45 days, with over 32 million yuan already disbursed [2]. - The project is expected to generate 180 million kWh annually, benefiting local farmers with an average annual income increase of over 20,000 yuan per household [2]. Group 2: Infrastructure Development - The bank is addressing infrastructure weaknesses by providing 276 million yuan in loans for water supply improvements, benefiting 230,000 rural residents and increasing drinking water quality from 75% to 100% [4]. - A loan of 87 million yuan was issued for upgrading heating networks, improving heating performance from 82% to 98% for 28,000 households [5]. Group 3: Support for Small and Micro Enterprises - The bank has launched innovative financial products to support technology-based small and micro enterprises, providing 85 million yuan in credit to 23 companies [6]. - A dual approach of offline visits and online products has been implemented, resulting in a 40% increase in first-time loan approvals [6]. Group 4: Agricultural Development - The bank is enhancing the "Yiyuan Red" apple brand by providing 300 million yuan in credit for cooperative expansion and supporting over 500 farmers to increase apple yields by 15% [7]. - A total of 23.36 million yuan in loans has been issued to lead enterprises, fostering a model of "enterprise-led, cooperative-organized, farmer-participated" development [8]. Group 5: Community Engagement and Party Building - The bank has integrated party building with financial services, addressing 136 financing challenges faced by cooperatives and farmers [9]. - During the pandemic, a "green channel" was established to ensure uninterrupted supply of agricultural materials, with 8 million yuan in loans disbursed to 12 cooperatives within three days [9].

Core Insights - China Construction Bank's Yancheng branch successfully provided a "pre-project loan" of 280 million yuan for the "Guoneng Longyuan Shiyang 1 million kW offshore wind power project," marking the first such loan in Jiangsu province and showcasing innovation in financial services for major project construction [1][2] Group 1: Project Significance - The Guoneng Longyuan Shiyang offshore wind power project has a total investment exceeding 10 billion yuan and is crucial for promoting energy structure adjustment and green low-carbon development in Jiangsu province [1] - Upon completion, the project will significantly enhance Jiangsu's clean energy supply capacity and contribute to carbon emission reduction, aiding in achieving the "dual carbon" goals [1] Group 2: Financial Support and Innovation - The Yancheng branch of China Construction Bank identified the urgent funding needs and limited financing channels during the project's preparatory phase and responded proactively to national policy directions [1][2] - A specialized service team was formed to tailor financial service solutions, ensuring that every detail from funding needs to repayment arrangements was meticulously crafted to meet the project's actual conditions [1] - The project became the first successful implementation of the new regulatory framework for "pre-project loans" in the province, creating a new paradigm for financial services and providing timely funding support during the preparatory phase [2] Group 3: Operational Efficiency - The project was processed from application to approval in just four working days, demonstrating the "Construction Bank speed" through efficient collaboration among provincial, municipal, and county-level branches [2] - The successful implementation of the first "pre-project loan" enhances China Construction Bank's market competitiveness and brand influence in Yancheng and across Jiangsu province, serving as a valuable reference for other financial institutions [3]

在藏北草原平均海拔4650米的土地上，登上"大风车"内部的升降梯，再手脚并用攀爬近20米高的梯子， 欧玛亭嘎风电场运维人员常建瑞喘了几口粗气，随后开始检修测试。对这位21岁的青年来说，这样辛苦 的检修，不过是他们"追风逐电"的日常。 西藏自治区蕴含丰富的风能资源。然而，作为中国海拔最高的地级市，那曲市受地理位置和气候条件影 响，电网系统曾经相对薄弱，冬季停电的情况时有发生。 2024年1月，国家能源集团西藏那曲欧玛亭嘎100兆瓦风电项目全部建成投产，成为当时全球超高海拔地 区装机规模最大的风电项目。每年约有2亿度电从这里并网输向千家万户，可满足23万人一年的用电需 求。一大批像常建瑞这样的年轻人慕名而来，成为维护风电场平稳运行的中坚力量。 "项目刚投产时还没有智慧监测系统，远远地看到风机扇叶不转了，就要抓紧开车来排查问题。"常建瑞 对记者说，"现在我们中控室的电脑上实时显示25台风机的运行状态，大大节省了时间精力。"如今，除 了个别需要现场检修的情况，大多数工作时间他都可以在后台关注风机状态。 负责风机维护检修的陈阳同样是位00后。陈阳是四川内江人，大学就读于机电一体化专业，听说西藏有 个"超高海拔大容量机组 ...

7月的内蒙古以其最丰饶的绿、最纯净的蓝、最绚烂的彩、最清凉的风，向人们展现了一幅辽阔壮美、 生机盎然的塞外画卷。 □ 李 艳 董 贝 在"中国乳都"内蒙古自治区呼和浩特市，乳及乳制品检测与监控技术、牛羊乳肉制品风险防控与关键技 术2个国家级重点实验室的建设有序推进，保障产业链供应链可靠性。 在草原钢城包头，满足150米级风电叶片全尺寸检测需求的自治区首个大型叶片试验检测认证平台，目 前已完成首批6支百米级叶片检测，辐射西北地区大型叶片检测服务能力正式形成…… 产业链供应链是经济发展的"骨架"与"血脉"，构筑起经济运行的基础架构与循环网络。质量基础设施作 为贯穿产业链全链条的技术支撑体系，不仅能够系统提升产业链供应链的韧性与核心竞争力，更能有效 促进上下游企业间的技术衔接与协作配套。今年以来，内蒙古自治区市场监管局纵深推进质量强链行 动，聚焦产业链质量技术攻关、质量基础设施一体化建设与集成服务、全链条质量协同提升三大核心任 务，靶向提升重点产业质量竞争力，加速培育新质生产力。 靶向施策破解产业链技术堵点 "研制牧场奶牛乳房炎预警防控系统，预警灵敏度达80%以上，时效与覆盖精度优于国内外行业平均水 平，每年可为企 ...

[Table_Reportdate] 2025年07月18日 [证券分析师： Table_Authors] 陶圣禹 S0630523100002 tsy@longone.com.cn 证券分析师： 刘思佳 S0630516080002 liusj@longone.com.cn 证券分析师： 王洋 S0630513040002 wangyang@longone.com.cn 联系人： 邓尧天 dytian@longone.com.cn [晨会纪要 Table_NewTitle] 20250718 重点推荐 财经要闻 ➢ 1.美国6月零售销售增长超预期 晨 会 纪 要 证券研究报告 HTTP://WWW.LONGONE.COM.CN 请务必仔细阅读正文后的所有说明和声明 晨会纪要 [table_summary] ➢ 1.6月社零同增4.8%，国补品类增势良好——6月社零报告专题 ➢ 2.全球主导地位稳固，高端应用描绘增长新曲线——稀土产业链深度报告 | 1. 重点推荐 | | 3 | | --- | --- | --- | | 1.1. 6 月社零同增 | 4.8%，国补品类增势良好——6 月社零报告专题 | 3 ...

Group 1 - Fumiao Technology signed a strategic cooperation agreement with New Hu Textile to advance technology development and market expansion in the textile dyeing industry [1] - Fumiao Technology's shareholder, Feixiang Chemical, transferred 6.1076 million shares at a price of 16.38 yuan per share, representing 5% of the company's total shares [1] - Huaitian Thermal Power was recommended as the owner of a 700,000 kW wind power project, aligning with local government policies for investment strategy [1][2] Group 2 - Beiyinmei's controlling shareholder applied for pre-restructuring due to liquidity issues, holding 1.33 billion shares, 98.85% of which are pledged or frozen [3] - *ST Songfa's subsidiary signed a contract for the construction of two LNG dual-fuel oil tankers, expected to positively impact future performance [4] - Hongming Technology terminated a major asset restructuring plan to acquire 83% of Shenzhen Chisu Automation Equipment due to failure to reach an agreement [18] Group 3 - Guoxiang Technology's controlling shareholder plans to transfer 4 million shares at a price of 44.14 yuan per share, representing 5% of the total shares [20] - Longpin Puzhi's controlling shareholder is set to change to Changjiang Guomao after transferring 72.239 million shares at 12.42 yuan per share, totaling 1.046 billion yuan [28] - Hanwujing adjusted its 2025 fundraising plan to raise up to 3.985 billion yuan for AI chip platform projects and working capital [31]