Exploring Similar Cooperation Models for Other Regions Including Thailand and Portugal About BOCOM International Holdings Company Limited BOCOM International Holdings Company Limited (HKEX:3329) is an investment holding company, provides securities brokerage, margin financing, corporate finance and underwriting, investment and loans, asset management, and advisory businesses. It is the only integrated platform for securities and related financial services of Bank of Communications Co., Ltd. in Hong Kong, on ...

Group 1 - The core viewpoint is that the Science and Technology Innovation Board (STAR Market) has become a hub for "hard technology" companies in China, with total R&D investment expected to reach 168 billion yuan in 2024, a year-on-year increase of 6.4%, and a median revenue ratio of 12.67% [1] - The STAR Market is facilitating the financing of unprofitable companies through tiered management and professional institutional participation, directing funds towards hard technology sectors such as biomedicine, new energy, and semiconductors [1] - M&A activity has been robust since the beginning of 2025, with 73 new disclosed transactions completed, and 13 major transactions, nearing the total number of transactions from 2019 to 2023 [1] Group 2 - The Science and Technology Innovation and Entrepreneurship ETF (588360) tracks the Science and Technology Innovation 50 Index (931643), which selects high-growth and innovative companies from the STAR Market and the ChiNext board, covering high-tech fields like new generation information technology and biomedicine [2] - Investors without stock accounts can consider the Guotai CSI Science and Technology Innovation 50 ETF Initiated Link C (013307) and Link A (013306) [2]

Core Insights - The 2025 Fortune China 500 list features 38 companies from Shenzhen, highlighting the city's growing economic significance [1][4] - Notable Shenzhen companies in the top 100 include China Ping An, Huawei, BYD, Tencent, and others, with China Ping An ranked highest at 13th [1][4] - The list reflects Shenzhen's economic transformation towards new growth drivers, particularly in emerging industries like renewable energy [2][3] Company Performance - China Ping An reported a revenue of $158.63 billion and a profit of $17.60 billion in 2024, with significant investments in AI [4][5] - Tencent's net profit exceeded $26.9 billion in 2024, showing a growth of over 65% year-on-year, driven by strategic investments in various sectors [4][5] - Huawei achieved a revenue of $86.21 billion, with a profit of $8.69 billion, and invested $27.97 billion in R&D, representing 20.8% of its total revenue [5][6] Industry Trends - Shenzhen's companies are diversifying across various sectors, including electronics, renewable energy, AI, and logistics, with a strong focus on new energy vehicles [2][10] - BYD sold 4.27 million electric vehicles globally in 2024, maintaining its position as the world's leading EV manufacturer [5][10] - The renewable energy sector is thriving, with companies like Grinmei and Xinnengda making significant advancements in battery technology and global market presence [10][11] Emerging Companies - Three companies made their debut on the Fortune list: Yongdao Holdings, AAC Technologies, and Guangshen Railway, indicating a broadening of Shenzhen's corporate landscape [6][8] - Grinmei and Xinnengda have shown remarkable ranking improvements, reflecting their growing influence in the renewable energy sector [6][10] Economic Impact - Shenzhen's industrial output reached over $5.4 trillion in 2024, with a 9.7% year-on-year growth, solidifying its status as China's industrial powerhouse [10][12] - The city is actively developing its AI and robotics sectors, with companies like Huichuan Technology making significant strides in humanoid robotics [11][12]

Core Insights - The successful issuance of 500 million yuan in corporate bonds by Zhenwang Company, a subsidiary of Wangcheng Economic Development Group, reflects strong market confidence in Wangcheng Economic Development Zone [1] - The zone has demonstrated resilience and potential with a 10.51% year-on-year growth in total industrial output value and a 12.2% increase in industrial added value in the first half of 2025 [1] Group 1: Industrial Growth - The "two main and one special" industries in Wangcheng Economic Development Zone reported impressive year-on-year output growth of 5.0%, 14.7%, and 10.9% respectively [2] - BYD Electronics continues to lead in the smart terminal sector, with its first phase project maintaining an annual output value exceeding 10 billion yuan, while the second phase is set to enhance production capacity by 10 million units annually [2] - The Liyade Changsha LED Industrial Park project has reached a significant milestone with its main structure completed ahead of schedule, expected to produce mid-to-high-end products by the end of the year [2] Group 2: Project Development - A total of 84 projects commenced and completed construction in the first half of the year, with fixed asset investment increasing by 10.3% [4] - Key projects include a 5 billion yuan investment by Hunan Jinkai Recycling Technology Co., which will produce battery-grade lithium carbonate and significantly boost the advanced energy materials industry in Changsha [4] - The zone has successfully attracted upstream and downstream enterprises, forming a complete industrial chain from raw materials to end products [4] Group 3: Investment Attraction - The economic cooperation bureau has implemented a rapid response mechanism to meet enterprise needs, ensuring efficient project initiation and execution [5] - The "Extreme Economy" brand has become a key attraction for quality enterprises, providing comprehensive support from project initiation to implementation [6] Group 4: Innovation and Services - The establishment of a 3.15 square kilometer innovation demonstration zone is underway, aimed at fostering a nurturing environment for innovative enterprises [7] - The Changsha Global Quantum Research Center has achieved significant milestones in under a year, showcasing the effective support provided by the zone [7]

Group 1 - The China-Shanghai Cooperation Organization (SCO) Local Economic and Trade Cooperation Conference was held in Qingdao, Shandong, focusing on regional cooperation and innovative development [1][2] - Approximately 360 exhibitors showcased unique products, attracting nearly 3,000 buyers for trade discussions, highlighting the vibrant trade among SCO member countries [2][3] - The trade volume between China and SCO member states, observer countries, and dialogue partners is projected to reach $890 billion by 2024 [2] Group 2 - The SCO Secretary-General emphasized the complementary advantages in market, economic structure, human resources, and natural resources among member countries, with a focus on digital economy and green energy cooperation [3] - The conference included cooperation meetings on various industries such as renewable energy and marine IoT, promoting the integration of innovation and industry [4] - China is providing practical and efficient solutions in renewable energy technology, with significant interest from SCO representatives in advanced technologies presented by companies like Huawei and China Electric Power Research Institute [4][5] Group 3 - Qingdao is positioning itself to develop future marine industries, including marine IoT, by enhancing technological breakthroughs and infrastructure upgrades [5] - The development of marine IoT is seen as a trend, with expectations for expanding cooperation among SCO countries in areas like pollution monitoring and disaster prevention [5]

Core Viewpoint - The article discusses the launch of the 2025 Beijing Key Laboratory application process, emphasizing its alignment with the construction of the Beijing International Science and Technology Innovation Center and focusing on key industries and cutting-edge technology fields [1][10]. Group 1: Application Focus Areas - The application areas for the Beijing Key Laboratories include new generation information technology (such as AI, big data, 5G/6G communication), medical health (including biomedicine, medical devices, precision medicine), intelligent manufacturing and equipment (covering industrial internet, intelligent robotics, high-end equipment manufacturing), new materials (like high-performance materials, nanomaterials, new energy materials), new energy (including clean energy, energy storage technology, carbon neutrality-related technologies), and agricultural technology [1][2]. Group 2: Application Conditions and Requirements - The applicant units must be registered enterprises, institutions, or social organizations in Beijing. Enterprises must meet specific sales revenue and R&D investment criteria. For joint laboratories, one unit must be designated as the leading unit, with others as co-construction units, and a co-construction agreement must be signed [3]. - Research directions should focus on scientific issues within the application areas, highlighting technological innovation, industry relevance, and potential for results implementation. The research team must consist of high-level researchers with solid foundations or achievements in relevant fields [4]. Group 3: Application Process and Timeline - The application notification for the Beijing Key Laboratories was released on April 9, 2025, with the specific deadline for submissions to be announced later. Required materials include the "Beijing Key Laboratory Application Form" and supporting documents (such as unit qualifications, research achievements, team introductions). The evaluation will be conducted by an expert committee, focusing on the project's innovation, feasibility, industrial value, and support for Beijing's technological innovation [6][5]. Group 4: Policy Support for Intelligent Manufacturing - Beijing has significantly increased support for the intelligent manufacturing sector, with recent developments including the establishment of a key laboratory for intelligent manufacturing, focusing on cutting-edge technologies (like industrial internet, intelligent detection, standard systems) and key common technologies (such as measurement, certification, and testing) [7]. - Collaborative innovation between industry, academia, and research institutions is encouraged to promote technology transfer and upgrade the industrial chain [7]. Group 5: Application Recommendations - Applications should focus on critical needs within the intelligent manufacturing sector, particularly on "bottleneck" technologies (such as high-end sensors, industrial software, precision processing equipment). Strengthening collaboration across the industry chain, including upstream and downstream enterprises, universities, and research institutions, is recommended to form a collaborative innovation network [8]. - Application materials should demonstrate the potential for industrialization of technological achievements, such as patent layouts, standard formulation, and demonstration applications. Consulting professional institutions for application guidance is advised to enhance material quality [8]. Group 6: Reference Cases - The High-Entropy Energy Materials and Devices Beijing Key Laboratory is currently accepting applications, focusing on energy materials research, which can serve as a reference for application processes and management requirements. The Smart Traditional Chinese Medicine Chronic Disease Prevention and Treatment Beijing Key Laboratory explores chronic disease prevention technologies through the integration of AI and traditional Chinese medicine, showcasing interdisciplinary research [9].

Core Viewpoint - Jiangsu Zhongtian Technology Co., Ltd. (ZTT) emphasizes its commitment to Environmental, Social, and Governance (ESG) principles, integrating them into corporate strategy and operations to promote sustainable development and social progress [1][11]. Environmental Initiatives - ZTT has launched the Green Low Carbon Manufacturing (GLCM) action plan, adding 5 new national green factories, totaling 13, and aims to reduce carbon dioxide emissions by approximately 130,000 tons through the use of over 190 million kWh of renewable electricity [3][4]. - The company has achieved a compliance rate of 100% for ISO 14001 environmental management system certification across its operational manufacturing companies [3]. Social Responsibility - ZTT focuses on employee well-being, providing employment opportunities for people with disabilities, and promoting diversity and inclusion within the workforce [1][3]. - The company has a 100% signing rate for collective contracts and has organized 278 safety drills, emphasizing its commitment to employee rights and safety [3][4]. Governance and Compliance - ZTT adheres to principles of transparency, compliance, and efficiency, optimizing its corporate governance structure and strengthening risk management to build trust with shareholders and investors [1][3]. - The company has joined the Science-Based Carbon Target Initiative (SBTi) to establish scientifically grounded emission reduction paths, demonstrating its commitment to climate action [3][5]. Financial Performance - In 2024, ZTT reported revenues of approximately RMB 48.05 billion, with operating costs of about RMB 45.27 billion, and employee wages and benefits totaling around RMB 2.86 billion [14]. - The company has maintained steady growth in revenue and controlled operating costs while increasing investments in R&D and environmental protection [12][14]. Technological Innovation - ZTT has established an "Energy and Carbon Cloud Platform" to enhance its green management system, integrating energy monitoring and carbon footprint accounting [3][4]. - The company has pioneered the "Intellectual Property Bank" platform, attracting over 11,000 participants and fostering a culture of innovation [3][4]. Global Strategy - ZTT has expanded its global footprint with 14 overseas marketing centers and 5 factories in countries such as India and Brazil, enhancing its international competitiveness [8][9]. - The company aims to achieve carbon neutrality by 2055, aligning its strategic goals with China's national targets for carbon peaking by 2030 [4][5].

Core Points - C Youyou (301590) experienced a significant increase of 68.64% on its first trading day, with a turnover rate of 79.54% and a transaction volume of 1.022 billion yuan [1] - The stock's first-day margin trading saw a buy amount of 54.9874 million yuan, accounting for 5.38% of the total trading volume, with a latest margin balance of 48.6913 million yuan, representing 3.95% of the circulating market value [1] - The company specializes in the research, production, and sales of core components for direct current charging equipment for electric vehicles, with its main products being charging modules of various power levels [1] Fund Flow - On its debut, C Youyou attracted a net inflow of 343 million yuan from major funds, with large orders contributing 167 million yuan and 176 million yuan respectively [1] - The top five trading departments on the stock's first day had a combined transaction volume of 116 million yuan, with a net purchase of 67.0808 million yuan after accounting for sales [1] - One institutional special seat was listed, with a total net sell of 7.7741 million yuan [1]

Group 1 - The Chinese government has issued opinions to deepen the market-oriented allocation reform of resource and environmental factors, aiming to establish a comprehensive system for quota distribution, market transactions, and supervision [1] - The focus is on promoting the support of resource and environmental factors for the development of new productive forces, while advancing carbon reduction, pollution reduction, greening, and economic growth [1] Group 2 - The public fund industry has seen a new product issuance scale exceeding 400 billion yuan this year, with a total of 515 new funds established, raising 406.08 billion yuan [4] - The new funds are focusing on technology sectors such as artificial intelligence and semiconductors, while also increasing the layout of low-volatility fixed-income products to meet investor demand for stability [4] Group 3 - The A-share and Hong Kong stock markets are experiencing a trend of dual listings, with many high-quality A-share companies going public in Hong Kong, attracting international long-term capital [11] - This trend is expected to improve the valuation of core assets in the A-share market as the liquidity in the Hong Kong market increases [11] Group 4 - The private equity market in Greater China is showing signs of recovery, with increased fundraising, active IPO markets, and heightened institutional investment [10] - The total amount of private equity investment in China is projected to grow by 7% in 2024, reaching 47 billion USD, driven by an increase in large transactions [10] Group 5 - The price of tungsten has reached historical highs, with ammonium paratungstate (APT) prices surpassing 250,000 yuan per ton, supported by a tight supply-demand balance [14] - The first batch of tungsten mining control indicators for 2025 has been reduced by 6.45% compared to 2024, indicating a tightening supply in the tungsten market [14] Group 6 - The AI industry is witnessing a shift from large models to AI agents, with the emergence of AI hospitals and applications across various sectors [9] - The development of AI agents is expected to accelerate, but challenges such as high investment costs and market competition remain [9] Group 7 - The construction of a unified national computing power service market is accelerating, with significant policy support driving the development of the computing power industry [8] - At least 12 listed companies have disclosed orders related to computing power services, totaling over 8 billion yuan, indicating strong market demand [8] Group 8 - The consumer sector is experiencing a surge, with new consumption themes in food retail, pet economy, and beauty products showing strong performance [2] - Equity funds focused on new consumption have reported returns exceeding 50% this year, highlighting the growth potential in the consumer market [2] Group 9 - The humanoid robot skills competition has evolved to showcase practical applications in family and commercial settings, indicating a shift towards utilitarian robotics [3] - The competition highlights advancements in robot capabilities, including perception and classification tasks [3] Group 10 - The North Exchange has seen a significant increase in institutional research activity, with 240 instances of institutional visits in May, a 126% increase from the previous month [12] - Companies in hard technology and emerging consumer sectors are attracting the most attention from institutional investors [12]

转自：新华财经 活动期间，兴业研究"智囊团"还与河北省生物医药、新能源、钢铁等行业企业以及金融同业进行了深入 交流，在观点的碰撞中，进一步拓宽各方思路，集思广益赋能地方经济发展。兴业银行石家庄分行表 示，未来将继续携手兴业研究，深化"融资+融智"服务模式，为河北高质量发展贡献更多"兴业智慧"和 金融力量。 据了解，兴业研究是兴业银行的重要智库，长期以来持续以一系列专业研究成果为政府和企业科学决策 和战略谋划贡献智慧。作为兴业研究的品牌活动之一，"兴研说·每月星光"积极响应国家区域重大战 略，推出"地方出题+研究答题"的特色服务模式，研究员深度融入业务一线场景，在"接地气"的调研与 实践中发挥研究价值，赋能区域经济发展。（李晓） 编辑：赵鼎 近日，由兴业银行石家庄分行与兴业研究联合主办的"兴业银行助力河北高质量发展暨2025年'兴研说· 每月星光'走进河北"活动在石家庄举办。活动围绕京津冀协同发展国家战略，紧扣河北区域经济特色， 设置了宏观经济、金融市场、科技金融、生物医药、新能源、钢铁行业等多个专题板块。来自兴业研究 的10名研究员分享最新研究成果、交流行业经验，为河北企业和城市高质量发展建言献策，贡献"兴业 ...