Core Viewpoint - The meeting emphasized the importance of enhancing the resilience and security of industrial and supply chains while integrating enterprise development into the national strategy of new industrialization [1][2]. Group 1: Meeting Overview - The 11th roundtable meeting for small and medium-sized enterprises (SMEs) was chaired by Li Lecheng, the Minister of Industry and Information Technology, with representatives from ten specialized and innovative "little giant" enterprises sharing their experiences and challenges [1]. - The meeting focused on sectors such as equipment manufacturing, semiconductors, artificial intelligence, and aerospace, highlighting the need for targeted policy recommendations to address the difficulties faced by these enterprises [1]. Group 2: Strategic Emphasis - Li Lecheng stressed the need for a heightened sense of responsibility, mission, and urgency in promoting new industrialization, aiming for better quality, higher efficiency, and stronger competitiveness in enterprise development [2]. - The importance of innovation was underscored, advocating for both "hard innovations" like technological and process advancements, and "soft innovations" such as organizational and marketing improvements [2]. - The meeting called for strengthening international exchanges and cooperation to enhance innovation capabilities and expand market opportunities [2]. Group 3: Policy Support - The Ministry of Industry and Information Technology plans to implement the decisions of the Central Committee and the State Council, focusing on a dual approach of service and management, as well as development and support for SMEs [2]. - There will be increased support in areas such as research and development, supply chain assurance, financial assistance, market expansion, and talent acquisition to promote high-quality development of SMEs [2].

Group 1 - The event on August 21 aimed to facilitate collaboration between entrepreneurs and scientists, promoting a platform for matching technological needs with available innovations [7] - The initiative included the unveiling of new Inner Mongolia academic workstations, key laboratories, and a talent innovation cloud base in Ordos [4][7] - The Ordos city government has been actively promoting the dual development of an innovation-driven city and a talent-friendly city, focusing on policy support and innovation application [7] Group 2 - The Ordos city science and technology bureau announced 12 technical demand projects in manufacturing, energy, and coal chemical industries [8] - A total of 60 actionable innovation results were presented by 12 universities and research institutes, covering areas such as new energy, new materials, and artificial intelligence [8]

Core Insights - Deyang, a small city in Sichuan, has recently gained attention due to its strategic location near Chengdu and its unique economic development approach [1][4] - The city has transformed from an old industrial base to a key player in the Chengdu-Chongqing economic circle, leveraging resources from Chengdu without direct competition [4][11] - Deyang successfully integrates industrial development with cultural tourism, exemplified by the coexistence of heavy machinery manufacturing and the cultural significance of the Sanxingdui archaeological site [7][11] Economic Development - Deyang is positioned just 58 kilometers from Chengdu, with a high-speed train reducing travel time to 23 minutes, enhancing its logistical advantages [4] - The city has attracted technological resources, such as a laboratory established by a professor from Chengdu University of Electronic Science and Technology, which contributed to the production of the world's largest hydropower generator [4][9] - Local factories, including Dongfang Electric and China National Heavy Machinery Corporation, produce equipment that is in demand both domestically and internationally, including exports to Europe [4][9] Cultural Integration - Deyang combines industrial and cultural elements, with attractions like the Dongfang Turbine Factory allowing visitors to witness the manufacturing process of large machinery [7][11] - The city has capitalized on its agricultural strengths, particularly in rice production, while also advancing in sectors like renewable energy, with projects like the Xinwangda energy storage project seeing significant growth [11] Educational and Technological Collaboration - Deyang faces challenges in higher education but has initiated "flying cooperation" with prestigious universities like Tsinghua and Shanghai Jiao Tong to enhance local technical skills [9] - The establishment of a technology transfer center has facilitated over 140 collaborative projects between local factories and universities, leading to innovations in various industries, including winemaking [9][11] Urban Transformation - The city is repurposing old industrial sites into tourist attractions, such as the former heavy machinery factory in Shifang, which now features a display area for a 10,000-ton hydraulic press [13] - Recent plans aim to connect Deyang with neighboring cities like Suining and Nanchong to form an industrial belt, indicating a proactive approach to regional economic integration [13]

近日，山东省工信厅公示了2025年度山东省首台（套）技术装备生产企业及产品名单，山东聚多士能源科技有限公司、山东泰 开电力电子有限公司、泰安海纳轴研科技有限公司3家企业产品入选。 首台(套)技术装备是指国内实现显著技术突破，拥有自主知识产权，进入市场初期尚未形成竞争优势的整机装备、核心系统及关 键零部件产品。此次入选的3家企业，满足产品技术先进、具有自主知识产权、产品质量安全可靠等要求，在同类产品中达到国 内先进及以上水平或达到国际先进水平，实现自主供应能力，市场前景较好，体现了我区装备制造业的发展水平。 近年来，泰山区工信局始终高度重视首台（套）技术装备和关键核心零部件产品的培育，不断引导企业加大科技创新力度，开 展技术攻关，引导企业积极与科研院所、高校、同行企业开展产学研协同合作，搭建企业与高校、科研机构的对接桥梁。在申 报时，通过政策宣传、入企走访、建立微信服务群等多种措施，为企业提供全方位的支持和辅导，协助企业解读申报指标、完 善申报材料，提高材料编制水平。积极对上争取，精准服务支撑，不断做实做细惠企服务，争取更高通过率。 下一步，泰山区工信局将继续学习首台（套）技术装备和关键核心零部件企业产品培育相 ...

Core Insights - The establishment of the Dezhou Craft Welding Research Institute marks a significant step in creating a comprehensive service platform for welding skills, integrating theoretical research, talent training, capability enhancement, and supply-demand matching [3] Group 1: Institute Overview - The Dezhou Craft Welding Research Institute is the first of its kind in Dezhou, developed collaboratively by high-skilled talents, key enterprises, and vocational colleges, focusing on a full-chain service for welding skill talent [3] - The institute aims to effectively leverage local equipment manufacturing and high-skilled talent resources to align talent capabilities with industry needs [3] Group 2: Inauguration Activities - The inauguration ceremony included the unveiling of the Shandong Branch of the China Workers Welding Technology Association, a skills master seminar, and the awarding of certificates to high-skilled talent representatives [5] - High-skilled talents conducted on-site technical teaching in welding and CNC processing, engaging in discussions with key enterprise and vocational college leaders on talent cultivation and tackling key technological challenges [5] Group 3: Talent Development Initiatives - The local human resources and social security bureau has focused on the development needs of 11 key industry chains, implementing various special projects to promote school-enterprise integration and skills cooperation with the Beijing-Tianjin-Hebei region [8] - Recent reforms have led to an increase in the total number of skilled talents in the city to 720,000, with high-skilled talents exceeding 160,000 [8]

近日，鹏力塑造一项目"U型管高速精密螺纹成型技术研究及装备研制"凭借显著的技术突破与行业价 值，成功斩获中国造船工程学会科技进步二等奖。 鹏力塑造针对单机生产效能低下制约规模化产出、人工操作占比高导致成本攀升、传统设备庞大的占地 面积增加企业运营负担等行业共性难题，组建专项研发团队，经过持续的技术迭代，成功研制出U型饮 料吸管高速螺纹成型装备，一举打破行业技术壁垒。 未来，鹏力塑造将继续以技术创新为核心驱动力，持续突破关键技术瓶颈，不断践行全球食品餐饮行业 包装耗材航母级服务商的品牌愿景，为行业高质量发展贡献更多技术成果与解决方案。 该装备实现了轻质管状物料高速、稳定的下料周转流程，经实际生产验证，周转效率较传统设备提升 150%，单台设备产能实现跨越式增长。通过创新设计缩短成型组件间距，设备在相同空间内的成型组 数扩展至原来的近4倍，大幅提升空间利用率。在减轻用工压力、节约厂房占地面积、提高产品质量、 降低噪音能耗等方面均带来了较大的经济价值。 ...

Global Market Overview - The Hang Seng Index closed at 25,105, down 0.29% for the day but up 25.15% year-to-date [1] - The Shanghai Composite Index rose by 1.16% to 3,771, with a year-to-date increase of 12.51% [1] - The S&P 500 dropped 1.22% to 6,370, with a year-to-date increase of 8.31% [1] Sector Performance - The Hang Seng Financial Index increased by 0.67% year-to-date, while the Hang Seng Industrial and Commercial Index decreased by 0.88% [2] - The Hang Seng Property Index rose by 1.64% year-to-date, and the Hang Seng Utilities Index fell by 1.31% [2] Investment Insights - The report highlights that the Hong Kong stock market is experiencing declines in consumer discretionary, industrials, and materials sectors, while healthcare, telecommunications, and energy sectors are performing well [3] - Southbound capital saw a net inflow of HKD 74.61 million, with Tencent, Meituan, and Xiaomi being the largest beneficiaries [3] - The report anticipates that sectors benefiting from China's capacity reduction and a rebound in U.S. inflation may outperform the market in the coming months [3] Company Analysis: AIA Group - AIA Group's new business value for 1H25 grew by 14% year-on-year to USD 2.838 billion, aligning closely with expectations [4] - The new business value margin increased to 57.7%, the highest since 2023, driven by a shift to dividend insurance products [4][5] - The management has set a target for a 40% CAGR in new business value across nine provinces from FY25 to FY30, indicating significant growth potential [5] Company Analysis: Kuaishou - Kuaishou reported a 13% year-on-year revenue growth to CNY 35 billion for 2Q25, exceeding expectations [7] - The strong performance was attributed to a robust e-commerce business and positive developments in AI monetization [7][8] - The target price for Kuaishou has been raised to HKD 84.0, reflecting confidence in its AI advancements and commercial potential [8] Company Analysis: iQIYI - iQIYI's 2Q25 revenue fell by 11% year-on-year to CNY 6.62 billion, but operating profit exceeded expectations due to cost control [9] - The company anticipates a recovery in core membership and advertising revenue starting in 3Q25, driven by quality content [9][10] - The target price for iQIYI has been adjusted to USD 2.70, based on a 18x FY26E non-GAAP PE ratio [10] Company Analysis: SANY Heavy Industry - SANY Heavy Industry's net profit for 1H25 increased by 46% year-on-year to CNY 5.2 billion, with a strong performance across major machinery products [11] - The company plans to distribute a mid-term dividend of CNY 0.31 per share, marking its first mid-term dividend since 2017 [11] - The target price for SANY has been raised to CNY 24, reflecting an optimistic outlook on the ongoing upcycle in the industry [11] Company Analysis: Tuhu - Tuhu's revenue for 1H25 grew by 11% year-on-year to CNY 7.9 billion, supported by a 14% increase in store count [12] - The company achieved a significant market share increase, with 90% of stores profitable [12][13] - The target price for Tuhu has been raised to HKD 23, reflecting confidence in its long-term growth strategy [13] Company Analysis: iFlytek - iFlytek's revenue for 1H25 reached CNY 300 million, a 30% increase, with strong performance in government sector solutions [14] - The company is expected to face challenges in its B-end business but remains optimistic about recovery in 2025 [14][15] - The target price for iFlytek has been adjusted to HKD 143.59, based on a 13x 2026 forecast sales ratio [15] Company Analysis: AAC Technologies - AAC Technologies reported a decline in gross margin to 20.7% in 1H25, but revenue growth was driven by various product segments [16] - The management's guidance for 2025 is viewed positively, alleviating market concerns about demand and margin [16] - The target price for AAC has been set at HKD 60.55, reflecting its potential in the AI-driven upgrade cycle [16]

Group 1 - The core viewpoint of the report is that Guoyuan Securities has given a "buy" rating to Jinggong Technology (002006.SZ) based on significant revenue growth and improved profit margins [1] - The report highlights that the growth is driven by the carbon fiber equipment business, with an accelerated strategic layout [1] Group 2 - The report mentions potential risks including idle new carbon fiber production capacity, demand falling short of expectations, intensified industry competition, policy risks, and exchange rate fluctuations [1]

Group 1 - The 33rd Guangzhou Expo will take place from August 22 to 24, showcasing over a hundred products from Shufu County, Xinjiang [2][7] - Shufu County aims to promote its unique agricultural products and cultural resources to enhance their visibility and reputation [4][11] - The exhibition will feature 11 enterprises presenting a variety of products, including dried and fresh fruits, cultural creations, and silicone products [8][10] Group 2 - A cultural tourism exhibition area will be established to highlight Shufu County's rich tourism resources, including various cultural heritage sites [15][18] - The county has made significant progress in industrial assistance and investment attraction, with 43 projects established in the first half of the year, amounting to 1.518 billion yuan in funding [20][21] - The agricultural sector is thriving, with leading enterprises like Kashgar Dajiang Youli Agricultural Technology Co., Ltd. driving growth through integrated operations in planting, breeding, and sales [26][28]

■核心提示 今年是西藏自治区成立60周年，在这片绽放新生的雪域高原上，有一份来自中原大地的深厚情谊。河南与西 藏，从中原腹地到世界屋脊，一场跨越山河的双向奔赴正在书写：从点亮万家灯火的"电力天路"到田间地头 传授技术的农业专家，从助力高原重大工程的中原盾构到20余年接力支教的青年力量……这份绵延不断的豫 藏情缘，正是全国支援西藏、共同谱写中国式现代化的绚丽雪域篇章的生动写照。本报特推出一组报道，记 录这段跨越千山万水、情系世界屋脊、传递深情厚谊的协作实践。 世界海拔最高 河南承建拉萨换流站扩建工程全面竣工 "天路"送电照万家 初秋的青藏高原，清风送爽。拉萨的大街小巷披红挂彩，处处洋溢着庆祝西藏自治区成立60周年的喜悦氛 围。 这份喜悦，同样涌动在拉萨±400千伏换流站的每一个角落。距离拉萨市区一个半小时车程，就抵达首条通往 西藏的"电力天路"——青藏直流联网工程的受端站。值此庆祝活动之际，该站传来重大喜讯：8月20日，由国 网河南省电力公司承建的拉萨±400千伏换流站扩建工程（以下简称"拉萨扩工程"）全面竣工，为下一步启动 直流站系统带电调试、9月底投入运行奠定坚实基础。 "一年多以来，我们全力应对雪域高原高 ...