Core Viewpoint - The integration of green development concepts into various sectors, including enterprise production, park construction, and daily transportation, aims to reduce resource consumption and environmental impact while enhancing development momentum and public welfare [1][4]. Group 1: Zero Carbon Parks - The concept of "zero carbon parks" refers to areas designed to minimize carbon emissions from production and living activities to near-zero levels, with the potential to achieve net-zero conditions [2]. - Zero carbon parks are significant platforms for industrial economic development and job creation, and they are major consumers of energy and carbon emitters [2]. - The core indicator for zero carbon park construction is "carbon emissions per unit of energy consumption," which measures energy utilization efficiency and environmental protection levels [2]. Group 2: Technological Support and Innovations - Achieving zero carbon production requires technological support, which can also foster new technologies and innovations [3]. - The "Energy Carbon Brain" platform developed by Longxin Technology in Wuxi integrates 3D twin and AI big data analysis for efficient energy utilization, resulting in annual carbon reductions equivalent to the CO2 absorption of over 1,000 acres of parkland [3]. - The Guangdong (Yangjiang) Green Energy Demonstration Industrial Park has developed the world's first 500 kV three-core submarine cable, saving 30% in sea area and reducing installation costs by 20% compared to traditional single-core solutions [3]. Group 3: Economic and Ecological Benefits - Promoting zero carbon parks and factories is a crucial strategy for achieving carbon neutrality, balancing resource reduction with economic growth [4]. - The Xiamen Comprehensive Bonded Zone in Fujian has introduced distributed photovoltaic projects, achieving self-sufficiency in green electricity and generating an annual profit of 4 million yuan from surplus electricity sales [4]. - The improved natural ecology in the Greater Khingan Mountains, following a logging ban, has attracted tourists and boosted the under-forest planting and breeding industry, demonstrating that economic benefits can be realized without deforestation [4]. Group 4: Broader Implementation of Zero Carbon Concepts - The zero carbon concept is being implemented in various regions, from zero carbon parks to cities and even rural areas, showcasing its practical application [4]. - The transition to green development is seen as a way to activate development momentum and enhance quality of life, with more successful stories emerging [4].

Core Viewpoint - Multiple companies planning to list on the Beijing Stock Exchange (BSE) have made progress in their listing journey, with a focus on the sustainability of performance growth, necessity of fundraising projects, and reasonableness of revenue recognition [1] Group 1: Performance Growth Sustainability - Among the eight companies planning to list on the BSE, seven have faced regulatory scrutiny regarding the sustainability of their performance growth, particularly concerning reliance on major clients and the stability of these partnerships [1] - For instance, Andar Co. has been questioned multiple times about the sustainability of its performance growth, especially regarding its major client, Shandong Altai, whose orders have shown a decline [2] - Similarly, Futaihe has been scrutinized for its high dependency on major clients, with sales from its top client Bosch accounting for a significant portion of its revenue over the years [3] Group 2: Necessity and Reasonableness of Fundraising Projects - The necessity and reasonableness of fundraising projects have become key points of inquiry from regulators for the eight companies updating their listing progress [4] - For example, Hengtong Technology plans to raise 651 million yuan for various projects, but the BSE has raised questions about the necessity of these investments given the company's fluctuating production capacity [5] - Zhengdao Technology's fundraising plans also face scrutiny regarding potential overcapacity risks and the alignment of new fixed asset investments with the company's development needs [6] Group 3: Revenue Recognition and Profit Margin Fluctuations - In addition to the sustainability of performance growth and the necessity of fundraising projects, regulators are also focusing on the accuracy of revenue recognition and the reasonableness of profit margin fluctuations among some companies [6]

Core Viewpoint - Several companies planning to list on the Beijing Stock Exchange (BSE) have made progress in their listing journey, with a focus on the sustainability of performance growth, the necessity of fundraising projects, and the rationality of revenue recognition [1] Group 1: Performance Growth Sustainability - Among the eight companies planning to list on the BSE, seven have faced regulatory scrutiny regarding the sustainability of their performance growth, particularly concerning their reliance on major clients and the stability of these partnerships [1] - For instance, Andar Co. has been questioned multiple times about the sustainability of its performance growth, especially regarding its major client, Shandong Altai, which significantly contributed to its revenue in 2022 [2] - The revenue figures for Andar Co. excluding Shandong Altai show a decline from 722 million yuan in 2022 to 755 million yuan in 2024, indicating a 5.15% year-on-year decrease [2] Group 2: Necessity and Rationality of Fundraising Projects - The necessity and rationality of fundraising projects have become key points of inquiry from regulators for the companies updating their listing progress [3] - For example, Hengtong Optic-Electric plans to raise 651 million yuan for various projects, including 210 million yuan for expanding its manufacturing base in Guilin, which has raised questions about the necessity of these investments given its fluctuating production capacity [4] - Zhengdao Technology, which aims to raise 245 million yuan for a new factory, has been asked to justify the scale of its fixed asset additions and the rationale behind its funding allocation [5] Group 3: Revenue Recognition and Profit Margin Fluctuations - In addition to the sustainability of performance growth and the necessity of fundraising projects, regulators are also focusing on the accuracy of revenue recognition and the reasonableness of profit margin fluctuations for some companies [5]

8月6日，国网北京电力公司联合北京电科院、青岛汉缆股份（002498）有限公司、青岛华电高压电气有 限公司，成功完成国网首条220kV高压电缆烧蚀缺陷的精准检测、科学评估与定点修复工作。这一里程 碑式成果标志着我国在高压电缆烧蚀缺陷修复技术领域实现双重突破——电压等级从110kV跃升至 220kV，修复效率与精准度显著提升，成果转化应用价值得到行业高度认可。 阻水缓冲层结构因优异的防水性能，在我国高压电缆中应用占比超80%，但其烧蚀故障近年来频发，已 成为威胁电网安全的"顽固隐患"。相较于110kV及以下电缆，220kV及以上电缆因电压等级高、烧蚀机 理复杂，在此之前暂未有涉及该等级产品的修复研究工作，本次修复破解220kV电缆烧蚀"世界级难 题"。 汉缆股份作为国内高压超高压电缆的引领者，一直致力于高压超高压电缆系统的研发和应用，此次缓冲 层修复技术历经近五年技术攻关，从"产品制造"到"产品+服务"，赋能新型电力系统安全。突破高电压 强电场下材料适配性、超长距离精准注液等多项核心技术瓶颈，创新开发出具有完全自主知识产权 的"检测-评估-修复"全链条技术体系，可针对不同场景提供定点、定段、定长等多样化修复方案 ...

最高人民法院日前发布12件人民法院依法平等保护民营企业和企业家合法权益典型案例，引导各级人民 法院持续优化民营经济健康发展、高质量发展法治环境。 在"刘某非国家工作人员受贿案"中，被告人刘某作为互联网公司的业务发展经理，为他人在提供流量扶 持等方面予以帮助，收取行贿款数百万元，表现出"小权力、大腐败"特点。人民法院依法认定，刘某构 成非国家工作人员受贿罪并判处刑罚，充分体现了司法机关对新兴领域犯罪严惩不贷、绝不姑息的鲜明 态度，对互联网企业工作人员起到良好的警示和震慑作用。 当下，产品测评是互联网经济下的一种市场评价方式。测评人发表的言论应基于其真实的测评结果，并 对转载的信息尽到合理注意义务，避免虚假的测评信息错误引导舆论，侵害生产者、经营者的名誉权， 扰乱健康的市场秩序。"某终端公司与江某网络侵权责任纠纷案"认定，网络测评人发布虚假测评信息侵 犯企业名誉权的，应承担侵权责任，对规制网络虚假测评行为，保障企业的合法权益具有积极意义。 最高法表示，人民法院将持续做实严格公正司法，发挥司法审判职能，依法平等保护民营企业和企业家 合法权益，促进民营经济健康发展。 (责任编辑：朱赫) 典型案例全面贯彻依法平等保护原 ...

（文章来源：证券日报） 证券日报网讯东方电缆7月31日在互动平台回答投资者提问时表示，公司目前分为电力工程与装备线缆 （绿色输电设施）、海底电缆与高压电缆（电力新能源）、海洋装备与工程运维（深海科技）三大板 块；公司主要的客户为国家电网、南方电网、石化工程企业、轨道交通、重大基建工程企业等。 ...

Group 1 - The revised "Regulations on Ensuring Payment of Small and Medium-sized Enterprises" prohibits large enterprises from using "third-party payment" as a condition for paying small and medium-sized enterprises, effectively banning "back-to-back" clauses that transfer payment risks [1] - The Supreme People's Court has ruled that "back-to-back" clauses are invalid, thereby protecting the legitimate rights and interests of small and medium-sized enterprises [1] - In a case involving a construction company and a cable company, the court ordered the construction company to pay over 1.57 million yuan to the cable company, emphasizing that the payment condition based on receiving third-party funds is unfair and violates the regulations [2] Group 2 - The construction company argued that the payment terms were legally binding and did not violate any mandatory legal provisions, but the court found otherwise [2] - The Supreme Court highlighted that large enterprises leverage their market position to shift payment risks onto smaller suppliers, which undermines fair negotiation [2] - The ruling reinforces the legal framework aimed at protecting small and medium-sized enterprises from unfair contractual practices [2]

Group 1 - The company raised a total of RMB 61,600 million through a private placement of shares, with a net amount of RMB 60,522.15 million after deducting issuance costs [1][5] - As of June 30, 2025, the company has invested RMB 32,584.91 million in projects funded by the raised capital, with a remaining balance of RMB 1,358.32 million in the special account [1][3] - The company has established multiple special accounts for the management of raised funds, ensuring compliance with regulations and transparency [2][3] Group 2 - The company has committed to invest in two main projects: the construction of special cables for rail transit and special cables for new energy, with actual investments reflecting changes in project implementation [4][5] - Changes in project locations and implementation entities have occurred, leading to a reduction in land area and optimized resource allocation, resulting in lower actual investment amounts compared to initial estimates [5][6] - The company generated RMB 1,487.81 million in interest income from temporarily idle raised funds, which were managed effectively [5][6] Group 3 - The company has permanently supplemented its working capital with RMB 28,106.56 million of surplus raised funds, following the completion of investment projects [5][6] - There have been no instances of external transfer or replacement of the raised funds investment projects [5] - The actual benefits realized from the investment projects are below the promised cumulative benefits by 20% or more, indicating a need for further assessment of project performance [6]

Group 1 - The global largest copper cable manufacturer, Prysmian SpA, welcomes the 50% copper tariff announced by President Trump, stating it will strengthen the U.S. supply chain, although costs will be borne by customers [1] - Prysmian's investor relations and sustainability head, Maria Cristina Bifulco, indicated that the company is in regular communication with U.S. officials to prepare for the tariff set to take effect on August 1 [1] - The tariff announcement has caused turmoil in the metal market, with traders shipping record amounts of copper to the U.S. ahead of the tariff implementation [1] Group 2 - Bifulco expressed that the tariff will further strengthen the leadership of local businesses, positioning Prysmian favorably in competition [2] - There are differing opinions in the industry regarding the tariff's impact, with some analysts warning that significant copper production growth in the U.S. will take years and require more incentives [2] - U.S. copper prices have surged due to tariff expectations, and while Encore has managed to pass on cost increases so far, future demand resilience remains uncertain [2] Group 3 - Since its spin-off from Pirelli in 2005, Prysmian has expanded through acquisitions, including the purchase of Encore Wire to enhance its position in low-voltage electrical applications, crucial for data centers [3] - Bifulco noted that the cable industry is becoming increasingly attractive, as the company is at the core of electrification and digitalization processes [3]

Core Viewpoint - The article highlights the significant role of private enterprises in China's growing renewable energy industry, particularly in developing specialized cables for high-altitude conditions, showcasing innovation and technological advancements [1][6]. Company Summary - A private company in Xining, Qinghai, has successfully developed special cables that remain flexible at temperatures as low as -40°C, suitable for high-altitude renewable energy projects [4][6]. - The company has achieved over 130 patents related to cable technology and has gained international certification, allowing it to enter the global market [6]. - Initially, the company faced challenges in a highly competitive market, producing only standard cables, but has since transitioned to specialized products through continuous R&D investment [6][8]. - The company allocated 1% of its annual revenue to R&D, increasing it to 5%, which strained cash flow but ultimately led to its recognition as a "specialized, refined, distinctive, and innovative" small giant in the industry [8]. Industry Summary - The Chinese government has implemented policies to reduce barriers for private enterprises, enabling them to participate in major projects and compete on equal footing [10]. - The company has seen a 45% year-on-year increase in orders in the first five months of the year, indicating strong market demand for its products [13]. - A new project involving a green high-purity aluminum rod is set to begin with an investment of 100 million yuan, expected to generate an annual output value exceeding 2 billion yuan [13]. - The company is actively involved in establishing industry standards for photovoltaic cables in high-altitude regions, which will enhance market competitiveness and product quality [13].