投资咨询业务资格： 证监许可[2011]1771号 研 究 所 晨 会 观 点 精 从业资格证号：F0256916 投资咨询证号：Z0000671 电话：021-80128600-8632 邮箱：jialj@qh168.com.cn 明道雨 从业资格证号：F03092124 投资咨询证号：Z0018827 电话：021-80128600-8631 邮箱：mingdy@qh168.com.cn 刘慧峰 从业资格证号：F3033924 投资咨询证号：Z0013026 电话：021-80128600-8621 邮箱：Liuhf@qh168.com.cn 刘兵 从业资格证号：F03091165 投资咨询证号：Z0019876 联系电话：021-80128600-8630 邮箱：liub@qh168.com.cn 王亦路 从业资格证号：F03089928 投资咨询证号：Z0019740 电话：021-80128600-8622 邮箱：wangyil@qh168.com.cn 冯冰 从业资格证号：F3077183 投资咨询证号：Z0016121 电话：021-80128600-8616 邮箱：fengb@qh168.co ...

2025/5/22 10:05 【国富期货早间看点】SPPOMA 5 20 3.72% 4 339.5 20250522 【国富期货早间看点】SPPOMA马棕5月前20日产量增加3.72% 阿 根廷4月大豆压榨量为339.5万吨 20250522 2025年05月22日 07:31 上海 01 隔夜行情 | | 收盘价 | 上日流跌幅(%) | 隔夜流跌幅(%) | | --- | --- | --- | --- | | 马棕油08(BMD) | 3905.00 | -0. 36 | 0. 23 | | 布伦特07(ICE) | 64. 58 | -1.55 | -1.04 | | 美原油07(NYMEX) | 61. 34 | -1.46 | -0.98 | | 美豆07 (CBOT) | 1061. 75 | 0. 71 | -0.23 | | 美豆箱07(CBOT) | 293. 70 | 0. 44 | 0. 07 | | 美豆油07(CBOT) | 49.75 | 0. 36 | -0.66 | | | 最新价 | 流跌幅(%) | 十日漆跌幅 | | --- | --- | --- | --- | ...

投资咨询业务资格：证监许可【2011】1778 号 运筹帷幄 决胜千里 宝城期货品种套利数据日报（2025 年 5 月 22 日） 一、动力煤 | 商品 | | | 动力煤（元/吨） | | | --- | --- | --- | --- | --- | | 日期 | 基差 | 5月-1月 | 9月-1月 | 9月-5月 | | 2025/05/21 | -190.4 | 0.0 | 0.0 | 0.0 | | 2025/05/20 | -190.4 | 0.0 | 0.0 | 0.0 | | 2025/05/19 | -189.4 | 0.0 | 0.0 | 0.0 | | 2025/05/16 | -187.4 | 0.0 | 0.0 | 0.0 | | 2025/05/15 | -187.4 | 0.0 | 0.0 | 0.0 | -250 -200 -150 -100 -50 0 50 100 150 450 500 550 600 650 700 750 800 850 900 950 动力煤基差 基差（右） 动力煤现货价:秦皇岛 期货结算价(活跃合约) :动力煤 www.bcqhgs.com 1 ...

2025年05月22日 国泰君安期货商品研究晨报 观点与策略 | 黄金：夜盘大幅反弹 | 3 | | --- | --- | | 白银：跟随上涨 | 3 | | 铜：避险情绪升温，限制价格上涨 | 5 | | 铝：区间震荡 | 7 | | 氧化铝：偏强运行 | 7 | | 锌：承压运行 | 9 | | 铅：供需双弱，区间调整 | 10 | | 锡：窄幅震荡 | 11 | | 镍：镍矿矛盾托底，转产经济性或限制上方估值 | 13 | | 不锈钢：成本底部空间清晰，上行缺乏实质驱动 | 13 | | 碳酸锂：锂盐厂减产，并未影响资源端，上方仍然承压 | 15 | | 工业硅：弱势格局依旧 | 17 | | 多晶硅：仓单累库，关注市场情绪变动 | 17 | | 铁矿石：短期利多兑现，上涨驱动放缓 | 19 | | 螺纹钢：宽幅震荡 | 20 | | 热轧卷板：宽幅震荡 | 20 | | 硅铁：黑色板块共振，硅铁宽幅震荡 | 22 | | 锰硅：钢招价格落地，锰硅宽幅震荡 | 22 | | 焦炭：底部震荡 | 24 | | 焦煤：底部震荡 | 24 | | 动力煤：煤矿库存增加，震荡偏弱 | 26 | | 原木：弱势 ...

Core Viewpoint - The Xinjiang Hotan region demonstrates that vibrant roses can thrive in the Taklamakan Desert, serving both ecological and economic purposes, with over 70,000 acres of roses currently in the harvesting season [1] Group 1: Economic Impact - Local villagers are actively engaged in rose harvesting, which requires specific techniques and timing to ensure quality, with petals for rose jam harvested separately from buds for tea and essential oils [3] - The rose trading market operates from 9 AM to 8 PM, with daily trading volumes reaching approximately 30 tons of rose petals [6] - Over 2,000 households are involved in rose cultivation in the region, with local cooperatives established to produce products like rose-flavored bread and pure rose water, alongside tourism activities that attract photography and art enthusiasts [7] Group 2: Ecological Benefits - The roses contribute to ecological benefits by stabilizing the desert environment, with the last rose seedling planted in November 2022 marking a successful effort to combat desertification [9] - The cultivation of drought-resistant rose varieties has led to the formation of dense flower beds that effectively block wind and reduce soil erosion [9]

（原标题：摩洛哥正成为埃及经济战略的关键支点） 阿布·伊斯梅尔表示，埃摩双边贸易额近年来显著增长，并强调在共同加强 双边交流的意愿下，所有关税和监管障碍均已消除。今年2月，负责与议会关 系的部长级代表兼政府发言人穆斯塔法-拜塔斯宣布，摩埃两国正在筹备举行 经济部长级会议，旨在化解因《阿加迪尔协定》引发的贸易摩擦。 作为2025年非洲第二大经济体，埃及凭借其持续增长的GDP和相对稳定的 经济环境，正以摩洛哥为跳板，积极开拓撒哈拉以南非洲的出口市场和投资渠 道，实现经济多元化布局。摩洛哥充分发挥其连接西非市场的桥梁作用，与埃 及向东非及中部非洲的自然延伸形成战略互补，正在成为埃及经济战略布局的 关键支点。 据Maroc Diplomatique网站5月20日报道，近30家埃及工业企业计划在2028 年前在摩洛哥设立生产基地。埃及-摩洛哥商业委员会（CAEM）主席尼扎尔· 阿布·伊斯梅尔表示，相关企业业务涵盖多个领域，包括农产品加工、机械工 业、营养补充剂、汽车零部件、远洋渔业和船舶制造。这一动向体现了埃及希 望通过与摩洛哥建立战略经济伙伴关系，加强其在马格里布地区的布局。在此 背景下，部分埃及企业正在寻求摩洛哥合 ...

Group 1 - The core viewpoint emphasizes the importance of industrial restructuring and aggregation for high-quality development in county regions [2][3] - Yiyuan County is focusing on a strategy of "Industrial Strong County" to drive its economic breakthrough, guided by the "Seven Upgrades" and "Eight Greater Breakthroughs" proposed by the county committee [2][17] - The recent high-quality development conferences in Yiyuan highlight the county's commitment to enhancing its cultural tourism and economic development [4][10] Group 2 - Yiyuan County's cultural tourism industry is currently lacking major projects and leading attractions, which hinders its growth compared to other districts [4][7] - In 2023, Zibo received 61.15 million domestic tourists, a year-on-year increase of 67.6%, with tourism revenue reaching 63 billion yuan, up 68.4% [5] - The economic development zone in Yiyuan accounts for 58% of the county's industrial enterprises and 89% of its industrial output value, indicating its critical role in the county's industrial transformation [10][16] Group 3 - The county's tourism output is projected to grow at an annual rate of over 10%, which will significantly boost consumption and the local economy [9] - The "Seven Upgrades" and "Eight Greater Breakthroughs" serve as a top-level design for the socio-economic development of Yiyuan County, focusing on various sectors including rural revitalization and industrial systems [17] - The emphasis on industrial cluster development, particularly in new pharmaceuticals and new materials, is a key strategy for Yiyuan's economic advancement [17][18]

鲁品入港，融湾 出海！山东农食 产品鲁港直通车 正式启动_南方 +_南方plus 5月21日，山东 农食产品香港分 销供应链基地建 设签约暨鲁港直 通车启动仪式 （以下简称"活 动"）在香港成 功举办。活动现 场签署8项合作 协议，并正式启 动"鲁港直通 车"跨境供应链 通道，为"好品 山东"国际化注 入强劲动能。此 次活动是山东融 入和服务大湾 区、服务香港的 又一里程碑事 件，标志着鲁港 合作更加紧密、 更加深入，再度 迈上新的台阶。 活动由山东省委 统战部、山东省 港澳办、山东省 农业农村厅、山 东省商务厅、山 东省市场监管 局、五丰行有限 公司联合主办， 香港特区政府官 员、中联办代 表、鲁港两地政 企界人士及媒体 代表120余人齐 聚一堂，共同见 证这一盛事。 活动现场。 香港"背靠祖 国、联通世 界"，是内地与 境外国家联络的 重要纽带。山东 是农业大省，产 业基础雄厚，拥 有最稳定最完备 的产业链、供应 链，能够提供最 丰富最优质的农 产品、制成品。 此次活动 上，"山东农食 产品鲁港直通 车"正式启动。 有关负责人表 示，"直通车"正 式启动将进一步 推动山东省优质 农产品更加高效 快捷进入香 ...

Group 1 - Huiyu Pharmaceutical's subsidiary received drug registration certificate for Carboxymethyl Sodium Injection, which is used for treating bleeding diseases in various medical fields [1] - Baihe Co., Ltd. announced a plan for a director to reduce holdings by up to 424,000 shares, representing 0.6625% of the total share capital [1] - Kingood Co., Ltd. received a notification from a global leading automaker for a wheel project, expected to start mass production in 2026 with a lifecycle of 10 years [1][2] Group 2 - Wanhua Chemical plans to repurchase shares worth between 300 million and 500 million yuan, with a maximum repurchase price of 99.36 yuan per share [2] - Warner Pharmaceutical's subsidiary received approval for Acetylcysteine raw material drug, primarily used for treating respiratory diseases [3] - ST Mingcheng plans to publicly transfer 45% equity of its subsidiary, aiming to optimize asset structure [4] Group 3 - Qixia Construction announced a plan to reduce up to 31.5 million shares, accounting for 3% of total share capital [5][6] - Zhejiang Rongtai intends to invest 20 million yuan to establish a wholly-owned subsidiary focused on intelligent robotics [7] - Yuandong Biological received drug registration for Chloral Hydrate Enema, used for sedation and seizure control in children [9] Group 4 - Jiemai Technology's subsidiary signed a strategic cooperation agreement with a solid-state battery company to produce high-safety composite conductive materials [10] - Xianju Pharmaceutical received drug registration for Progesterone Soft Capsules, used for treating functional disorders due to luteal deficiency [11] - Lanhua Kecai's subsidiary reported a temporary production halt, with the resumption date yet to be determined [13] Group 5 - Sinopharm Modern's subsidiary received drug registration for Tocilizumab Tablets, used for treating rheumatoid arthritis and other conditions [15] - Shanghai Bank announced the resignation of its vice president due to organizational adjustments [17] - Shanghai Pharmaceutical's Ephedrine Injection passed the consistency evaluation for generic drugs [19] Group 6 - Rundu Co., Ltd. received drug registration for Amlodipine and Olmesartan Tablets, aimed at treating hypertension [21] - Zhong'an Technology announced that 61 million shares held by its controlling shareholder will be auctioned [23] - Shanghai Washba plans to purchase patent assets and establish two subsidiaries focused on hydrogen energy and solid-state battery technologies [25] Group 7 - Nuo Cheng Jianhua's new drug Tafasitamab received approval for treating relapsed/refractory diffuse large B-cell lymphoma [26] - Benli Technology plans to use up to 200 million yuan of idle funds for cash management and financial investments [28] - Taiji Co., Ltd. intends to use 60 million yuan of idle funds to purchase financial products [29] Group 8 - Haishi Co. announced that its innovative drug Anreke Fen Injection received drug registration for treating postoperative pain [32] - Yulong Co. will have its stock delisted on May 27, 2025, following a decision by the Shanghai Stock Exchange [36] - Weifu High-Tech plans to establish a joint venture with Shanghai Baolong Automotive Technology [38] Group 9 - Xichang Electric Power expects a net profit reduction of approximately 5.4 million yuan due to adjustments in the time-of-use electricity pricing mechanism [39] - Alter signed a contract worth 6.8 billion yen for the development and procurement of large truck EV kits [41] - Zhonglian Heavy Industry plans to acquire controlling stakes in its financing leasing subsidiary through public bidding [42] Group 10 - Sanyou Medical's executive plans to reduce holdings by up to 1.44% of the company's shares [43] - Hangyang Co. plans to establish a subsidiary for large modular cryogenic equipment manufacturing with an estimated investment of 557 million yuan [44] - FAW Fuwi received a notification for a dashboard project from a well-known new energy brand, with total sales expected to reach 1.06 billion yuan [45]

Core Viewpoint - The integration of electricity supply into the agricultural value chain is crucial for enhancing agricultural productivity, increasing farmers' income, and revitalizing rural areas, as demonstrated by various initiatives in Shanxi Province [3][10]. Group 1: Agricultural Development and Electricity Supply - The State Grid Shanxi Electric Power Company actively supports the agricultural industry by ensuring reliable electricity supply for the entire agricultural value chain, which includes planting, management, and sales [3][6]. - In Yuncheng, a major agricultural city in Shanxi, the company has focused on building cold storage facilities to extend the shelf life of fruits, thereby increasing their market value by 30%-40% compared to direct sales [4][6]. - The company has established service teams, such as the "Electricity Small Field" service team, to provide timely support and ensure the safety of electrical supply to cold storage facilities [3][6]. Group 2: Economic Impact on Farmers - In Lingyi County, the establishment of over 600 cold storage facilities allows for the delayed sale of fruits, significantly enhancing farmers' income [4]. - The construction of a strawberry seedling greenhouse in Dajiao Village, supported by the local power company, is expected to reduce seedling costs by 10% and increase survival rates by 15%, generating an annual economic benefit of over 70,000 yuan [6]. - The Dazhong Agricultural Development Company in Datong has successfully processed 1,800 tons of fresh daylilies annually, contributing to local employment and income stability for surrounding villages [9]. Group 3: Technological Advancements and Efficiency - The Hongfeng Kang Agricultural Cooperative has invested in an automated production line that significantly increases processing capacity and product quality, allowing for better market positioning and higher prices for sunflower seeds [10]. - The cooperative's new color selection equipment has reduced labor costs by 70% and increased daily processing capacity to 50 tons, enhancing the overall efficiency of operations [10]. - The proactive approach of local power companies in facilitating electricity supply for new agricultural projects demonstrates their commitment to supporting the agricultural sector's growth and sustainability [9][10].