Core Viewpoint - The State Administration for Market Regulation has drafted the "Antitrust Guidelines for the Public Utilities Sector (Draft for Comments)" and is seeking public feedback on it [1]. Group 1: Overview of Public Utilities - Public utilities encompass a range of industries that provide essential goods or services to the public, including water supply, electricity, gas, heating, sewage treatment, waste disposal, broadcasting, and public transportation, most of which have natural monopoly characteristics [3]. Group 2: Antitrust Guidelines Purpose - The guidelines aim to address the unique characteristics and market competition rules of the public utilities sector, enhancing the scientific, targeted, and effective nature of antitrust enforcement [4]. Group 3: Identification of Antitrust Behaviors - The draft provides detailed specifications on potential monopolistic agreements in the public utilities sector, helping operators accurately identify legal risks [6]. - Horizontal monopolistic agreements are prevalent in the public utilities sector, particularly in the bottled gas industry, where operators may fix prices or divide market shares through informal agreements [8]. Group 4: Abuse of Market Dominance - The draft addresses the frequent occurrence of market dominance abuse in sectors like water, gas, electricity, and heating, detailing factors related to unfair pricing, refusal to deal, and other unreasonable trading conditions [9]. - It specifies common scenarios that may not be considered legitimate justifications for market dominance abuse, emphasizing that actions without legal basis or those claiming safety without proof are generally not justified [10][14].

Core Viewpoint - The State Administration for Market Regulation has released a draft guideline for public utilities aimed at enhancing antitrust enforcement in sectors characterized by natural monopolies, such as water, electricity, gas, and heating services [1][3]. Group 1: Antitrust Guidelines Overview - The draft guideline consists of seven chapters and 45 articles, providing a comprehensive framework for analyzing monopolistic agreements and abuse of market dominance in the public utilities sector [3]. - It addresses horizontal monopolistic agreements, particularly in the bottled gas industry, and outlines specific behaviors and standards for identifying such agreements [3][4]. - The guideline establishes a systematic antitrust regulatory framework that covers preemptive, ongoing, and post-incident measures in the public utilities sector [3][4]. Group 2: Specific Provisions and Implications - The guideline specifies two forms of horizontal monopolistic agreements, including price-fixing through verbal agreements or meetings, and market division through cooperative operations [4]. - It emphasizes that operators cannot justify abusive market dominance behaviors under the pretext of safety unless they can prove such actions are necessary for safety [6]. - The guideline aims to promote self-regulation among public utility operators, encouraging compliance with laws and regulations to enhance fair competition and public welfare [6][7]. Group 3: Coordination and Comprehensive Governance - The guideline highlights the need for coordinated efforts between antitrust enforcement agencies and industry regulators to address systemic monopolistic issues in public utilities [7]. - It mandates that any violations of industry regulations discovered during investigations be reported to the relevant regulatory bodies for further action [7].

Performance Disclosure - Jishi Media reported a net loss of 232 million yuan in the first half of 2025, with operating revenue of 999.7 million yuan, an increase of 8.7% year-on-year, compared to a net loss of 195 million yuan in the same period last year [1] - Sinopec's operating revenue for the first half of 2025 was 1.41 trillion yuan, a decrease of 10.6% year-on-year, with a net profit attributable to shareholders of 21.483 billion yuan, down 39.8% year-on-year [2] - Baofeng Energy achieved operating revenue of 22.82 billion yuan in the first half of 2025, an increase of 35.05% year-on-year, with a net profit attributable to shareholders of 5.718 billion yuan, up 73.02% year-on-year [3] Shareholding Changes - Zhongyin Securities announced that Jiangxi Copper intends to reduce its stake by no more than 8.334 million shares, representing up to 3% of the company's total share capital [4] - Boji Pharmaceutical's controlling shareholder Wang Tingchun and his concerted parties plan to reduce their holdings by no more than 1.14865 million shares, also up to 3% of the company's total share capital, between September 12, 2025, and December 11, 2025 [5] - Green Island Wind's shareholder, Zhenzhong Investment, intends to reduce its stake by no more than 680,000 shares, which is up to 1% of the company's total share capital [6] Risk Matters - Dameng Data announced that its director and senior vice president Chen Wen is under investigation, but the company's daily operations remain normal and business is progressing steadily [7]

业绩披露 每经记者｜陈晴 每经编辑｜文多 博济医药：控股股东及其一致行动人拟减持不超公司3%的股份 博济医药公告，控股股东王廷春及一致行动人拟于2025年9月12日至2025年12月11日，通过大宗交易或 集中竞价合计减持不超过1148.65万股公司股份，即不超过公司总股本的3.00%。 吉视传媒：上半年净亏损2.32亿元 吉视传媒公告，2025年上半年营业收入为9.97亿元，同比增长8.70%，归母净利润为亏损2.32亿元，上 年同期公司净亏损1.95亿元。 中国石化：上半年归母净利润为214.83亿元 中国石化公告，2025年上半年营业收入为1.41万亿元，同比下降10.6%，归母净利润为214.83亿元，同 比下降39.8%。 宝丰能源：上半年归母净利润同比增长73.02% 宝丰能源公告，2025年上半年营业收入为228.20亿元，同比增长35.05%，归母净利润为57.18亿元，同 比增长73.02%。 增减持 中银证券：江西铜业拟减持不超公司3%的股份 中银证券公告，截至公告披露日，股东江西铜业持有公司1.3亿股，占公司总股本的4.70%；因自身经营 发展需要，拟合计减持不超过8334万股，即不超公 ...

智通财经APP讯，吉视传媒(601929.SH)发布2025年半年度报告，报告期内，公司实现营业收入9.97亿 元，同比增长8.70%。归属于上市公司股东净亏损2.32亿元，归属于上市公司股东的扣除非经常性损益 净亏损2.32亿元，基本每股亏损0.0665元。 ...

Core Viewpoint - Jishi Media reported a revenue increase of 8.7% year-on-year for the first half of 2025, but still faced a net loss attributed to shareholders of approximately 232 million yuan [2] Financial Performance - The company's revenue for the first half of 2025 was approximately 997 million yuan, compared to 917 million yuan in the same period of 2024, indicating a growth of 80 million yuan [2] - The net loss for the first half of 2025 was about 232 million yuan, which is an increase from the net loss of approximately 195 million yuan in the first half of 2024 [2] - Basic earnings per share for the first half of 2025 were a loss of 0.0665 yuan, compared to a loss of 0.056 yuan in the same period of the previous year [2]

吉视传媒公告，2025年上半年营业收入9.97亿元，同比增长8.70%；归属于上市公司股东的净亏损2.32 亿元，上年同期净亏损1.95亿元。 （文章来源：第一财经） ...

【14天8板吉视传媒：上半年净亏损2.32亿元】智通财经8月21日电，吉视传媒(601929.SH)公告称，2025 年上半年营业收入9.97亿元，同比增长8.70%。归属于上市公司股东的净亏损2.32亿元。 转自：智通财经 ...

Market Overview - The A-share market experienced fluctuations with a mixed performance, where the Shanghai Composite Index rose by 0.13%, while the Shenzhen Component Index and the ChiNext Index fell by 0.06% and 0.47% respectively [1][2] - The total trading volume exceeded 2.46 trillion yuan, an increase of 119 billion yuan compared to the previous trading day [1] Sector Performance - Sectors such as combustible ice, digital currency, and oil and gas extraction services saw significant gains, while sectors like new materials, electronic chemicals, and rare earth permanent magnets faced adjustments [2] - Notable stocks included Jishi Media, which saw a dramatic rise to its daily limit after initially hitting a limit down, and other stocks like Sanwei Xinan and Beixin Source also reached their daily limits [2][3] Jishi Media Insights - Jishi Media's stock price has shown high volatility, with a cumulative increase of 105.18% since August 4 [3] - The company operates in broadcasting network construction, operation, and value-added services, and is a key player in Jilin Province's broadcasting network [5] - Recent announcements indicated that Jishi Media does not engage in "state-owned cloud" related businesses and has minimal involvement in current film investments, which are not expected to significantly impact its performance [5] - The company is focusing on AI cultural enterprises and aims to enhance revenue from data services through its data center capabilities [5] Banking Sector Highlights - Agricultural Bank and Postal Savings Bank reached historical highs, with Agricultural Bank closing at 7.23 yuan per share (up 2.12%) and Postal Savings Bank at 6.23 yuan per share (up 1.3%) [7][8] - The banking sector is experiencing increased market interest due to improved economic fundamentals and a favorable risk appetite, with recommendations to focus on undervalued quality cyclical stocks [9] Emerging Trends in Information Security - The information security sector saw significant activity, with stocks like Sanwei Xinan and Beixin Source hitting their daily limits [10][12] - Beixin Source is focusing on integrating AI capabilities into its market analysis management systems, indicating a shift towards a dual-driven market growth model [12]

Group 1 - The State Administration for Market Regulation released a draft guideline on antitrust in the public utility sector, seeking public feedback [1][2] - Public utilities encompass essential services such as water supply, electricity, gas, heating, sewage treatment, waste disposal, broadcasting, and public transportation, often exhibiting natural monopoly characteristics [1] - There is a prevalence of abuse of market dominance in the public utility sector, particularly in water, gas, electricity, and heating industries [1] Group 2 - The draft guideline aims to clarify the basic principles of antitrust enforcement in the public utility sector, detailing the analysis and identification standards for monopolistic behaviors [2] - The guideline provides specific considerations for unfair pricing, refusal to deal, exclusive dealing, bundling, unreasonable trading conditions, and differential treatment [1][2] - The document emphasizes the need for a long-term regulatory mechanism to promote the sustainable and healthy development of the public utility sector [2]