Core Viewpoint - The issuance of the "Opinions on Continuing to Promote Urban Renewal Actions" by the Central Office and State Council is expected to benefit Tianlun Gas, which primarily generates revenue from urban gas sales, pipeline connections, and value-added services [1][2]. Group 1: Urban Renewal Policies - The "Opinions" emphasize the renovation of old residential areas, streets, factories, and urban villages, aiming to improve urban functions and infrastructure [1]. - Key tasks include updating aging gas pipelines to eliminate safety hazards and enhancing commercial areas with better facilities [1]. - The document sets higher and clearer requirements for the promotion and application of urban gas in cities [1]. Group 2: Company Performance - Tianlun Gas reported total revenue of 7.78 billion yuan for 2024, with gas sales volume increasing by 7.2% to 2.24 billion cubic meters [1]. - Revenue from gas sales grew by 5.9% to 6.51 billion yuan, while value-added business revenue rose by 14% to 420 million yuan [1]. - The company has over 3.87 million urban gas users [1]. Group 3: Future Growth Opportunities - In 2024, Tianlun Gas plans to leverage urban renewal actions to support its gas sales, engineering construction, and value-added services [2]. - The company aims to add 250,000 new urban gas users by focusing on old residential areas and urban villages [2]. - Value-added services related to urban renewal and smart kitchen upgrades are expected to grow by 30% to 310 million yuan [2]. - The "Opinions" provide a roadmap for urban renewal actions, with a goal set for 2030, allowing Tianlun Gas to seize policy opportunities for sustainable and steady growth [2].

Group 1 - The State Intellectual Property Office of China shows that China National Petroleum Corporation (CNPC) and China Petroleum Group Engineering Materials Research Institute have applied for a patent titled "A Composite Resin and Its Preparation Method and Application," with publication number CN119978705A, and the application date is November 2023 [1] - The patent abstract indicates that the composite resin consists of 30%-50% epoxy resin, 10%-30% curing agent, 0.1%-5% aerogel silica, 3%-8% silane coupling agent, 5%-15% toughening agent, 3%-10% styrene-maleic anhydride copolymer, 3%-15% nano solid lubricant, 2%-10% nano magnetic particles, and 10%-40% diluent, which provides good sealing performance, high-temperature resistance, and strong adhesion, meeting the requirements for sealing, lubrication, and service life of the inner surface of downhole pipe columns [1] - CNPC was established in 1990 and is primarily engaged in gas production and supply, with a registered capital of 48.69 billion RMB, having invested in 106 companies and participated in 5,000 bidding projects, holding 1,443 trademark records and 5,000 patent records, along with 28 administrative licenses [1] Group 2 - China Petroleum Group Engineering Materials Research Institute was established in 2021 and focuses on research and experimental development, with a registered capital of 679.11 million RMB, having invested in 4 companies and participated in 1,183 bidding projects, holding 15 trademark records and 554 patent records, along with 16 administrative licenses [2]

服务业稳中有增。一季度，惠东全县服务业增加值94.4亿元，增长2.2%，拉动GDP增长1.3个百分点。 分行业看，信息传输软件和信息技术服务业增加值增长8.4%，金融业增加值增长6.8%，批发和零售业 增加值增长6.3%，房地产业增加值下降8.6%。 惠东滨海游持续火爆出圈。 日前，惠东县人民政府网发布《2025年1-3月惠东经济运行简析》，根据惠州市地区生产总值统一核算 结果，2025年一季度，惠东县完成地区生产总值175.1亿元，按不变价格计算，同比增长5.4%。其中， 第一产业增加值17.4亿元，同比增长3.4%；第二产业增加值63.3亿元，同比增长12.0%；第三产业增加 值94.4亿元，同比增长2.2%。全县经济实现平稳开局，多项经济指标向好发展。 惠东县委财经委会议暨全县一季度经济形势分析会议强调，各级各部门要狠抓工业发展，全力抓好重点 项目、重大平台建设，抓好工业企业"小升规"等，全力以赴抓好经济工作。 制造业产值增长10.7% 分析认为，从总体看，一季度惠东全县经济保持稳中向好，高质量发展扎实推进。下阶段，要继续激发 创新活力，提振发展预期，进一步推动惠东经济高质量发展取得新进展。 其中，农业 ...

每经记者｜黄海 每经编辑｜杨夏 实控人正式变更两个月后，新疆火炬（603080.SH，股价17.06元，市值24.14亿元）拟将实控人旗下公 司并入表中。 5月15日晚间，新疆火炬公告称，拟以现金1.25亿元收购江西中久天然气集团有限公司（以下简称江西 中久）持有的玉山县利泰天然气有限公司（以下简称玉山利泰）100%的股权。 截至公告日，新疆火炬实控人为雍芝君，控股股东为江西中燃天然气投资有限公司（以下简称江西中 燃）。江西中久持有江西中燃100%股份，且江西中久法定代表人、执行董事、总经理甘银龙任上市公 司董事，因此上述交易构成关联交易。 最新公告中，新疆火炬表示，鉴于公司目前的经营区域主要集中在新疆喀什、克州地区、图木舒克市及 江西进贤县部分区域，未能完全挖掘公司的潜力，公司拟使用自有资金和自筹资金收购玉山利泰100% 的股权。通过本次交易，能够进一步推动公司业务发展，拓展公司业务发展区域，做强做优做大公司燃 气主业、实现公司高质量发展。 新实控人入主刚超两个月 标的业绩方面，据新疆火炬披露，玉山利泰2024年总营收8447.08万元，净利润955.49万元；今年一季 度，玉山利泰实现营收2058.81万 ...

【 宏观】政府加杠杆，缓解企业压力 社融增速反弹：政府债是主要贡献。 4 月新增社融 1.2 万亿元，同比多增 1.2 万亿，带动社融存量增速 边际抬升至 8.7% ，为 2024 年 3 月以来新高。一方面受到去年同期低基数影响（去年 4 月新增社融 -658 亿元），另一方面，政府债发行前置，持续形成支撑。 4 月新增信贷 2800 亿元，同比少增 4500 亿元，其中企业票据融资是 4 月信贷的主要支撑（新增8341 亿元）。 剔除季节性因素， 4 月信贷表现偏低或指向：一是地方政府债务置换继续带动企业存量贷款偿 还；二是关税摩擦对出口和出口预期产生冲击，出口企业投融资活动边际放缓；三是 3 月短期贷款大规模 冲量投放后，在 4 月迎来集中到期偿还；四是居民部门资产负债表恢复还需提振。 总体来看， 4 月金融数据一方面体现了政策端继续发力稳增长，包括政府债加快发行、加快使用；另一方 面，内需，尤其是居民部门需求修复速度还有待提振。 每周一景： 云南玉龙雪山 点击右上角菜单，收听朗读版 我们认为，国内政策仍将逐步渐进发力。 边际上，近期关税政策的变化对市场的影响已经缓解，而接下 来，内部解决好低通胀的问题 ...

每经记者｜陈晴 每经编辑｜张海妮 并购重组 哈药股份：三精制药拟以2344.6万元收购三精千鹤42.82%股权 湖北宜化：控股股东宜化集团拟以2亿元~4亿元增持 新疆火炬公告称，公司拟以1.25亿元收购江西中久天然气集团有限公司持有的玉山县利泰天然气有限公 司100%股权。本次交易构成关联交易，未构成重大资产重组。 回购增持 荣信文化：拟以2000万元~2200万元回购股份 荣信文化公告称，公司拟使用自有资金及回购专项贷款资金，以集中竞价交易的方式进行股份回购，回 购金额不低于2000万元（含）且不超过2200万元（含），回购价格不超过37元/股。 湖北宜化公告，控股股东宜化集团计划自2025年5月19日起的6个月内，通过深交所交易系统增持公司股 份，增持金额不低于2亿元且不超过4亿元。本次增持不设置价格区间。 风险事项 富创精密：两股东拟合计减持不超4%股份 哈药股份公告，公司全资子公司哈药集团三精制药有限公司拟收购三名自然人所持有的哈药集团三精千 鹤制药有限公司42.82%的股权，收购金额为2344.6万元。 新疆火炬：拟1.25亿元收购玉山利泰100%股权 威孚高科：拟以1亿元~1.5亿元回购股份 威孚 ...

Group 1 - China National Petroleum Corporation (CNPC) has applied for a patent for a "technologically adjustable continuous synthesis device and process for polymethyl methacrylate" [1] - The patent application was filed on November 2023 and is aimed at enhancing the polymer synthesis technology [1] - The invention allows for continuous and stable mass production of PMMA molding materials, demonstrating high adaptability and flexibility in raw material systems and process routes [1] Group 2 - CNPC was established in 1999 and is primarily engaged in gas production and supply [2] - The company has a registered capital of 18,302,097,000 RMB [2] - CNPC has invested in 1,277 enterprises and participated in 508 bidding projects, holding 36 trademark records and 5,000 patent records [2]

Group 1 - The gas sector experienced a rapid surge, with Hongtong Gas (605169) hitting the daily limit up [1] - Other companies such as Kaiteng Gas, Xinjiang Torch (603080), Shaanxi Natural Gas (002267), and Anhui Natural Gas (603689) also saw significant gains [1]

Core Viewpoint - The company plans to utilize part of its idle raised funds for cash management to enhance fund efficiency and ensure the preservation and appreciation of its capital [3][11]. Summary by Sections Cash Management Overview - The cash management aims to improve fund utilization efficiency and is set to use up to RMB 200 million of idle raised funds [3]. - The funds are sourced from temporarily idle raised capital, with a total raised amount of RMB 870 million from convertible bonds, netting approximately RMB 856.73 million after fees [4]. Cash Management Product Details - The cash management product is a structured deposit with a principal amount of RMB 50 million, with a fixed annual interest rate of 1.50% and a floating rate dependent on market conditions [6]. - The deposit has a term of 184 days, starting from May 14, 2025, and maturing on November 14, 2025 [6]. Fund Flow and Management - All funds from this cash management initiative will be directed towards the structured deposit product offered by the bank [7]. - The company will adhere to strict regulations and internal controls to manage and supervise the investment, ensuring the safety of the funds [8]. Trustee Information - The cash management is entrusted to the Pingdingshan branch of Industrial Bank Co., Ltd., which is a publicly listed financial institution with no related party relationships with the company [9]. Impact on the Company - The cash management initiative is designed to not affect the normal implementation of the company's fundraising projects while effectively controlling risks, thereby benefiting shareholders [11].

天富能源 20240514 摘要 • 天富能源 2024 年营收 92.7 亿元，同比下降 2.49%，主要受供热收入减 少影响，但燃气收入增长 12.56%。2025 年一季度营收约 22.1 亿元，同 比略降 3%，净利润 1.81 亿元，同比增长 22.75%，得益于煤炭成本和外 购电价下降。 • 2024 年综合煤价约 360 元/吨，同比下降约 30 元。2025 年一季度入炉 原煤价格不到 300 元/吨，降幅显著。公司全部煤炭通过长协合同采购， 覆盖全年用煤量，预计 2025 年煤价将保持略微下行趋势，全年综合入炉 原煤价格将保持在不到 300 元左右。 • 2025 年一季度供电量略有下降，全年供电量预计均衡分布。2024 年国网 购外部购电 17.6 亿度，同比增加 9 亿度。外购电价从 0.38 元/度降至 0.305 元/度。向网内光伏企业采购新能源成本为 0.25 元/度，但实际结算 电价可能只有 0.18 元至 0.19 元左右。 • 公司预计输配电价未来不会再降，新疆容量电价标准（100 元/千瓦）目前 未执行，未来可能以火电名义收取容量电价来疏导下游用户价格。新疆目 前不涉及现货 ...