上海城投控股股份有限公司 第三条 战略与 ESG 委员会由七名董事组成，其中至少 包括一名独立董事。 第四条 战略与 ESG 委员会委员由董事长、二分之一以 - 1 - 上独立董事或者全体董事的三分之一提名，并由董事会选举 产生。委员在任期内出现不适合任职的情形时，该委员应主 动辞职或由公司董事会予以撤换。 第五条 战略与 ESG 委员会设召集人一名，负责召集和 主持战略与 ESG 委员会工作，由战略与 ESG 委员会会议选 举产生。 第六条 战略与 ESG 委员会委员任期与同届董事会董事 任期一致。委员任期届满，可以连选连任。期间如有委员不 再担任公司董事职务，自动失去委员资格，并由董事会根据 上述第三条至第五条的规定补足委员人数。 董事会战略与 ESG 委员会工作细则 第一章 总 则 第一条 为适应上海城投控股股份有限公司（以下称"公 司"）战略发展需要，增强公司核心竞争力，确定公司发展 规划，健全投资决策程序，加强决策科学性，提高重大投资 决策的效益和决策的质量，提升公司环境、社会和治理（ESG） 管理水平，完善公司治理结构，根据《中华人民共和国公司 法》、 《上市公司治理准则》及其他有关规定，公司设立 ...

Core Viewpoint - Delin Hai (688069.SH) reported a revenue growth of 44.71% in 2024, but its net loss expanded to -86.15 million yuan, raising regulatory concerns about the company's financial performance characterized by "increased revenue without increased profit" [2][3]. Financial Performance - In 2024, Delin Hai achieved an operating income of 447 million yuan, a year-on-year increase of 44.71%. However, the net profit was a loss of 86.15 million yuan, which further widened compared to the previous year [3]. - The company attributed the loss to increased expenses of 9.52 million yuan, credit impairment losses and asset impairment losses increasing by 17.85 million yuan, reduced investment income by 22.96 million yuan, and increased income tax expenses by 9.64 million yuan [3]. - The net profit of Delin Hai has been declining year-on-year since its listing in July 2020, with figures of 193 million yuan, 109 million yuan, 56.42 million yuan, and -13.44 million yuan from 2020 to 2023 [3][4]. Client Concentration - Delin Hai's top five clients accounted for 71.17% of total annual sales, with the largest client contributing 41.18% of sales, amounting to 185 million yuan [5]. - The company explained that the high client concentration is due to the nature of its business in the governance of eutrophic lakes, focusing on areas with severe blue-green algae outbreaks [5][6]. Accounts Receivable - As of the end of 2024, Delin Hai's accounts receivable balance was 690 million yuan, with a bad debt provision of 260 million yuan, resulting in a book value of 430 million yuan. The bad debt ratio is relatively high, with a provision for bad debts of 119 million yuan, an increase of 40 million yuan from the previous year [6]. - The company indicated that the high bad debt ratio is due to the aging of receivables, primarily from long-term debtors such as the Tonghai County Water Conservancy Bureau and others. However, it expects to recover these receivables [6].

Group 1 - Chengjian Development received a dividend of 7.1282 million yuan from Beijing Jingcheng Jiaye Property Co., Ltd., in which it holds a 33.47% stake [1] - Shengnuo Bio expects a net profit attributable to shareholders of 77.0275 million to 94.1448 million yuan for the first half of 2025, representing a year-on-year increase of 253.54% to 332.10% [1] - JKN2301 dry mixed suspension has been approved for clinical trials, targeting children with influenza [5][6] Group 2 - Jindawei obtained a patent for a method of purifying natto kinase, with a validity of twenty years [2] - CITIC Guoan plans to increase its stake in China Broadcasting Hunan Company to approximately 5.29% through a capital increase of 278 million yuan [2] - Ji Electric announced the resignation of its general manager, Niu Guojun, due to work changes [3] Group 3 - Xintian Green Energy successfully issued 1.5 billion yuan in green medium-term notes with a term of 3+N years and an interest rate of 2.05% [7] - Hengrun Co. plans to invest 1.2 billion yuan in a project to produce 2,000 sets of wind turbine gearbox components [9] - Pulaide received a government subsidy of 10 million yuan, accounting for 15.87% of its audited net profit for the last fiscal year [10] Group 4 - Boteng Co. passed the EU QP audit, receiving a compliance statement for its CDMO services [12] - Zhou Dasheng added 7 self-operated stores in May, with total investments ranging from 900,000 to 6.5 million yuan [13] - Wantai Bio initiated a Phase III clinical trial for its live attenuated varicella vaccine [15] Group 5 - Shanghai Pharmaceuticals received a drug registration certificate for Pregabalin capsules in Thailand [19] - Sanxing Medical's subsidiary is expected to win contracts worth approximately 143 million yuan from State Grid projects [21] - Jiangsu Huachen plans to issue 460 million yuan in convertible bonds [24] Group 6 - Jian Gong Repair won a soil pollution remediation project worth 32.76 million yuan [25] - Dize Pharmaceutical completed patient enrollment for a global Phase III clinical trial of its drug [26] - Del Co. received acceptance for its application to issue shares for asset acquisition and raise matching funds [27] Group 7 - Beijing Kerui won multiple power grid projects with a total value of approximately 154 million yuan [27] - Xie Chuang Data signed financing lease contracts totaling 498 million yuan with Su Yin Financial Leasing [28] - Meige Intelligent submitted an application for H-share listing on the Hong Kong Stock Exchange [29][31] Group 8 - Aikodi plans to repurchase shares worth 100 million to 200 million yuan for employee stock ownership plans [54] - Kong Kong Industrial intends to sell 80% of Tianyuan Construction to its controlling shareholder [55] - Youyou Green Energy proposed a cash dividend of 12 yuan per 10 shares, totaling 50.4 million yuan [55]

Group 1 - The second China-Central Asia Summit was held in Astana, Kazakhstan, from June 16 to 18, focusing on cooperation and development between China and Central Asian countries [3] - The chairman of Junxin Environmental Protection Co., Ltd. attended the China-Central Asia Industry and Investment Cooperation Forum and spoke alongside the mayor of Bishkek, Kyrgyz Republic [1][3] - Junxin's project in Bishkek was highlighted by CGTN as a landmark cooperation in green development, showcasing the company's technical strength and responsibility [3] Group 2 - Junxin has actively implemented the "Xi'an Declaration" from the first China-Central Asia Summit, focusing on green technology and clean energy projects in Central Asia [3] - The company has laid the foundation for the Osh city waste treatment project and plans to complete the first phase of the Bishkek waste-to-energy project by the end of this year [3] - Junxin's leadership expressed commitment to continue contributing to the "China-Central Asia Community of Shared Future" and high-quality regional cooperation through clean energy projects [4]

Group 1 - The report indicates that the North Exchange has accelerated its IPO approvals, with a total of 9 companies approved from January to June 2025, suggesting an increase in listing pace as companies finalize their 2024 annual reports [3][11]. - The average number of effective online subscription accounts reached 460,100, with an average of 475.2 billion yuan in frozen funds during the same period, reflecting heightened market activity [3][12]. - The average fundraising amount per company in the North Exchange for the first half of 2025 was 396 million yuan, representing a 94.55% increase compared to 2024, indicating a trend towards larger fundraising efforts [3][20]. Group 2 - The North Exchange's overall PE ratio decreased to 50.12X, with the North 50 Index closing at 1,382.74 points, down 0.71% for the week, highlighting a volatile market environment [4][30][32]. - The report notes that 143 companies in the North Exchange have a PE ratio exceeding 45X, with 71 companies exceeding 105X, indicating a significant portion of the market is highly valued [4][35]. - The average maximum online subscription limit was 9.81 million yuan, with a notable increase to 16.13 million yuan in the first half of 2025, suggesting improved investor capacity for participation [3][24]. Group 3 - The report highlights that from January 1, 2024, to June 13, 2025, the average subscription rate for companies raising over 200 million yuan was 0.14%, compared to 0.06% for those raising less, indicating a correlation between fundraising size and subscription success [3][17]. - The average subscription threshold for 100 shares was 1.5827 million yuan, which increased to 1.8591 million yuan in the first half of 2025, reflecting rising entry costs for investors [3][27]. - The report emphasizes the importance of focusing on companies with reasonable valuations and strong performance potential, particularly those that align with new industrial and technological trends [4][44].

Core Viewpoint - The article highlights the successful implementation of ecological protection measures in Sichuan, showcasing significant improvements in water quality and biodiversity, as well as innovative legal frameworks for environmental governance [1][4]. Group 1: Water Quality Improvement - The water quality of the Jinjiang River has improved from a poor level (Class V) to a good level (Class III and above) over the past several years, with a current excellent rate of 100% [2]. - The ecological restoration efforts have led to an increase in fish species in the Jinjiang River from 23 to 49 since the beginning of the 13th Five-Year Plan [2]. - In the Xilong Lake area, water quality has improved from Class IV in 2017 to Class III and II in some areas, with aquatic plant coverage increasing from 5.28% to 75.3% [2]. Group 2: Water Source Protection - In Luzhou, the drinking water source protection area has implemented 45 high-definition monitoring devices linked to law enforcement, enhancing the safety of local drinking water [3]. - The water quality in the protected area is maintained at Class II, ensuring the safety of local residents' water supply [3]. Group 3: Legal Framework and Governance - The establishment of the Chengdu Environmental Resource Court has led to the acceptance of 319 environmental resource cases, promoting judicial fairness and balance in sentencing for environmental crimes [5]. - The court has introduced innovative practices such as "wildlife rehabilitation" and established a climate change judicial response research center, extending legal protection to the entire ecological restoration process [6]. - Sichuan has pioneered a collaborative legal framework for cross-province river basin governance, exemplified by the joint decision-making model for the protection of the Chishui River [6]. Group 4: Economic and Cultural Development - The number of fish species in the Yibin section of the Yangtze River has increased from 48 to 92 since the fishing ban, indicating a successful ecological recovery [8]. - Yibin is developing a complete bamboo industry chain, with 334,000 acres of bamboo forests contributing to both ecological protection and economic growth, providing jobs for 150,000 people and increasing farmers' annual income by 3,200 yuan [9].

Summary of Key Points Core Viewpoint - Langkun Technology (301305) has shown a slight increase in stock price, closing at 17.61 yuan, reflecting a 0.4% rise from the previous week, with significant trading activity noted [1]. Trading Information - On June 9, Langkun Technology recorded a large transaction amounting to 3.1981 million yuan [1][3]. Company Announcements - Langkun Technology announced a guarantee for its subsidiary, which has an asset-liability ratio exceeding 70%, providing a performance guarantee of 800,000 yuan [1][3]. - The company approved a new guarantee limit of up to 1.592445 billion yuan for the year 2025 [1]. - The subsidiary, Raoping Langkun Agricultural Resources Technology Co., Ltd., established in May 2018, has total assets of 34.4756 million yuan and total liabilities of 24.7820 million yuan as of March 31, 2025 [1]. - The total guarantee amount for the company and its subsidiaries is 4.14194 billion yuan, with a cumulative guarantee balance of 1.8379524 billion yuan, representing 51.52% of the latest audited net assets [1].

Group 1 - The core stock price of Fulongma (603686) closed at 15.2 yuan as of June 13, 2025, down 2.56% from the previous week [1] - The highest intraday price for Fulongma was 16.05 yuan on June 12, 2025, while the lowest was 15.02 yuan on June 10, 2025 [1] - Fulongma's current total market capitalization is 6.315 billion yuan, ranking 33rd out of 105 in the environmental governance sector and 2388th out of 5150 in the A-share market [1] Group 2 - Fulongma announced a cash dividend of 0.158 yuan per share, with the record date set for June 19, 2025 [2] - The profit distribution plan was approved at the 2024 annual shareholders' meeting held on May 20, 2025 [2] - The actual cash dividend distribution varies for different types of shareholders, with individual shareholders receiving 0.158 yuan per share before tax, while QFII shareholders receive 0.1422 yuan after tax [2]

Group 1 - The company held its 39th meeting of the 5th Board of Directors on June 11, 2025, where it approved the proposal to revise company regulations [1][18] - The revisions aim to enhance corporate governance and protect the rights of investors, especially minority shareholders [1][2] - The specific revised regulations include the rules for shareholder meetings, board meetings, independent director work, investor relations management, and related party transaction management [2][4] Group 2 - The company will hold its second extraordinary general meeting of shareholders on June 30, 2025, using both on-site and online voting methods [4][5] - The meeting will discuss several proposals, including those that require special resolutions and separate voting for minority investors [6][10] - The voting will be conducted through the Shanghai Stock Exchange's online voting system, with specific time slots for participation [7][8] Group 3 - The company approved a proposal to adjust its business scope and revise its Articles of Association during the same board meeting [21][41] - The adjustments to the business scope include new activities such as geological exploration services and various metal processing and trading activities [42][43] - The revisions to the Articles of Association will be comprehensive, and the company will not compare each item individually due to the full revision [43] Group 4 - The company announced a guarantee for its associate company, Jin Yu Environment, with a maximum amount of RMB 1.5 million, while the total guarantees provided by the company amount to RMB 128.49 billion, which is 142.04% of the company's latest audited net assets [48][49] - The company has no overdue guarantees and has provided a total of RMB 93.64 billion in guarantees to its subsidiaries [59][64] - The board of directors approved the guarantee proposal, which will also be submitted for shareholder approval [51][57]

Core Viewpoint - The first pilot project in China for carbon fixation using flue gas from power plants has commenced operations in Yantai, focusing on the production of bio-fertilizers and bio-feed from mature microalgae [1][2] Group 1: Project Overview - The project utilizes flue gas from the Huaneng Yantai Bajiao Thermal Power Co., Ltd. to cultivate microalgae, which are then converted into bio-fertilizers and bio-feed [1] - The facility includes various functional areas such as a power room, a preservation room for high-efficiency carbon-fixing algae strains, and a laboratory for microalgae observation and carbon fixation efficiency measurement [1] Group 2: Microalgae Carbon Fixation - Microalgae have a carbon fixation capacity that is 10 to 50 times greater than that of ordinary terrestrial plants, making them highly effective for carbon reduction [2] - The project combines microalgae with flue gas from thermal power plants, representing an efficient approach to biological carbon reduction technology [2] Group 3: Collaboration and Innovation - The project is led by Shandong Shanfahaiyue Environmental Technology Co., Ltd. in collaboration with Huaneng Yantai Bajiao Thermal Power Co., Ltd. and the Shanghai Advanced Research Institute of the Chinese Academy of Sciences [2] - The initiative has already secured multiple patents related to algae strain selection and process optimization, with plans to further develop microalgae-based products for commercial applications [2]