Group 1: Event Overview - The third China International Supply Chain Promotion Expo opened in Beijing on July 16, with over 1,100 representatives from more than 100 countries and regions attending the opening ceremony [1] - The expo's theme is "Linking the World, Creating the Future," featuring six major chains: advanced manufacturing, smart automotive, green agriculture, clean energy, digital technology, and healthy living [1] - A total of 651 enterprises and institutions from 75 countries and regions participated, with 35% of exhibitors being international, indicating a higher level of globalization [1] Group 2: Importance of Cooperation - The current global economic slowdown and rising protectionism are damaging global supply chains, increasing costs, and reducing economic efficiency [2] - Multiple speakers at the expo emphasized the need for cooperation to maintain the stability and smooth operation of global supply chains [2] - The China Council for the Promotion of International Trade (CCPIT) president highlighted the expo's focus on helping businesses find partners and solutions [2] Group 3: Initiatives and Proposals - The "Beijing Initiative" was released, advocating for the maintenance of global supply chain security, innovation-driven development, and deeper cooperation among the global business community [3] Group 4: Platform for Open Cooperation - The expo has evolved into a platform for high-level opening up and global sharing, enhancing trade promotion, investment cooperation, and innovation [4] - Apple showcased its collaboration with three Chinese suppliers, highlighting a $20 billion investment in smart and green manufacturing in China over the past five years [4] Group 5: Innovations and Technologies - Qingdao Beer demonstrated its global supply chain innovation, emphasizing the interconnectedness of its production process [5] - The Beijing Changmu Valley Medical Technology Co., Ltd. showcased its AI-assisted orthopedic surgery robot, marking a significant technological advancement in the healthcare sector [6] - Syngenta Group presented its agricultural innovations, focusing on efficient and sustainable supply chains [6] Group 6: China's Supply Chain Advantages - China plays a crucial role in global supply chains, providing strong support for international cooperation and innovation [7] - Sanofi highlighted its 30 years of localized manufacturing in China, showcasing its end-to-end healthcare ecosystem [7] - Medtronic expressed confidence in China's position as a major medical market and innovation hub, emphasizing its commitment to local value chain development [7]

中国啤酒市场规模宏大，近年来始终保持着稳定增长的态势。根据中金企信数据预测，2025年中国啤酒市场规模有望攀升至3360亿元。预计在未来五年内， 将以4.5%的年复合增长率持续扩张，到2030年市场规模极有可能突破4200亿元大关。这一稳健增长的背后，主要得益于消费升级、技术创新以及渠道变革 这三大核心驱动因素。消费升级促使消费者对高品质、个性化啤酒产品的需求激增；技术创新为企业优化生产流程、提升产品质量提供了有力支撑；而渠道 变革则进一步拓展了啤酒产品的销售半径，增强了市场渗透力。 ②增强市场竞争力：通过认证，企业可以更清晰地了解自身在市场中的定位，从而制定更有针对性的市场策略。 ③反应企业市场地位：市场地位认证是企业竞争力的一种体现，它在很大程度上反映了企业在市场中的地位。市场占有率越高的企业，说明它在同行业中的 竞争实力越强。 目前，中国啤酒市场已形成"五足鼎立"的竞争格局。华润雪花、青岛啤酒、百威亚太、燕京啤酒、嘉士伯这五大头部品牌，合计占据了超过70%的市场份 额。头部企业通过积极的并购整合地方品牌，以及关停低效工厂等举措，实现了资源的优化配置，成本下降幅度达到15%-20%，有效提升了自身的市场竞 ...

Macro Information and Commentary - In the first half of 2025, China's GDP reached 66,053.6 billion yuan, with a year-on-year growth of 5.3%. The GDP growth for Q1 was 5.4% and for Q2 was 5.2% [3][6] - The industrial added value above designated size increased by 6.4% year-on-year, while fixed asset investment (excluding rural households) was 24,865.4 billion yuan, up 2.8% year-on-year, with private fixed asset investment declining by 0.6% [3][6] - The urban surveyed unemployment rate averaged 5.2%, and the total retail sales of consumer goods in June grew by 4.8% year-on-year, with a month-on-month decline of 0.16% [3][6] North Exchange Overview - As of June 20, 2025, there were 267 stocks listed on the North Exchange, with an average total market capitalization of 807.743 billion yuan, a decrease of 1.98% from the previous week [7][10] - The average trading volume decreased by 13.60% to 1.287 billion shares, and the average trading value fell by 11.56% to 28.833 billion yuan [8][10] - The North Exchange 50 index closed at 1,347.46 points, down 2.55% from the previous week [10] Industry and Company Analysis Food and Beverage - The food and beverage sector rose by 0.84% from July 7 to July 11, 2025, outperforming the Shanghai Composite Index by 0.03 percentage points [13] - The CPI showed marginal improvement, with dairy prices recovering and the wholesale price of Moutai increasing by 0.52% [14][15] - Investment recommendations focus on stable demand leaders and companies innovating in new products and channels, including Qingdao Beer and Guizhou Moutai [17] Medical Consumables - The optimization of medical procurement rules in Hunan Province aims to enhance procurement volume determination and monitoring [20][21] - Ji Min Health and Shangrong Medical both issued profit warnings, with expected losses due to tariff impacts and declining sales [22][23] - Investment suggestions highlight opportunities in companies recovering from procurement pressures and those innovating in high-value consumables [25] Public Utilities - The public utilities sector rose by 1.11%, with solar power and heating services showing significant gains [27] - Coal prices increased slightly, while natural gas prices also saw a minor rise [28][29] - Investment recommendations focus on hydropower assets and companies benefiting from the transition to a unified electricity market [32] New Materials - The rare earth magnetic materials sector surged by 15.66%, with significant price increases in rare earth minerals [34][35] - Investment suggestions emphasize the potential for price increases in rare earth resources and the recovery of downstream magnetic material companies [39] Real Estate - Real estate sales area and sales amount saw a year-on-year decline, with significant drops in June [40][41] - Investment recommendations suggest focusing on leading real estate companies with strong land acquisition capabilities and those benefiting from active second-hand housing transactions [45] Medical Services - The medical and biological sector rose by 1.82%, with significant growth in the CXO platform, particularly for WuXi AppTec [47][48] - Investment recommendations focus on high-growth companies in the medical outsourcing sector and those expected to improve profitability [49][50] ETF Market - As of July 11, 2025, the total asset management scale of ETFs reached 43,803.08 billion yuan, with a notable increase in the number of new listings [52][53] - Investment strategies recommend focusing on sectors with high PB and ROE, particularly in automotive and agricultural industries [55][57]

证券代码：600573 证券简称：惠泉啤酒 公告编号：2025-015 福建省燕京惠泉啤酒股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗 漏，并对其内容的真实性、准确性和完整性承担法律责任。 重要内容提示： ? 每股分配比例 A 股每股现金红利0.08元 ? 差异化分红送转： 否 ，共计派发现金红利20,000,000元。 三、相关日期 | 股份类别 | 股权登记日 | | 最后交易日 | 除权（息）日 | 现金红利发放日 | | --- | --- | --- | --- | --- | --- | | Ａ股 | 2025/7/24 | － | 2025/7/25 | 2025/7/25 | | 四、分配实施办法 无限售条件流通股的红利委托中国结算上海分公司通过其资金清算系统向股权登记日上 海证券交易所收市后登记在册并在上海证券交易所各会员办理了指定交易的股东派发。已办 理指定交易的投资者可于红利发放日在其指定的证券营业部领取现金红利，未办理指定交易 的股东红利暂由中国结算上海分公司保管，待办理指定交易后再进行派发。 一、通过分配方案的股东会届次和日期 本次利润分 ...

Group 1: Market Overview - The Hang Seng Index (HSI) shows mixed sentiments with bullish investors targeting the heavy resistance zone at 25,100 and bearish investors anticipating a drop to challenge the support level at 24,000 [1] - The index reached a high of 24,867 during the trading session but closed lower at 24,517, indicating a potential buying signal based on technical analysis [1] - Key support levels are identified at 24,100 and 23,700, while resistance levels are at 24,894 and 25,357 [1] Group 2: Individual Stock Analysis - Pop Mart (09992.HK) opened high but closed lower, with bearish investors holding put options at an exercise price of 167.9 HKD, indicating skepticism about further price increases [3] - Baidu Group (09888.HK) is under scrutiny as investors question when it will stabilize above 90 HKD, with some holding call options at 168 HKD [6] - Tencent Holdings (00700.HK) experienced a high of 526 HKD during the session, with investors opting to take profits after a significant rise from 493 HKD, while the buying signal remains [9] - China Unicom (00762.HK) is approaching a resistance level of 9.4 HKD, with a buying signal in place and a potential challenge to reach 10 HKD in the future [12] - China Resources Beer (00291.HK) is anticipated to report mid-term results, with a strong buy signal and resistance levels at 27.8 HKD and 29 HKD, indicating potential upward movement [16]

现场评委团队从技巧性、多样性、创意性、完整性、音乐性五大维度对舞者们的表现进行全面评审，确 保评选结果的公平、公正、公开。 决赛的即兴Battle环节堪称"燃炸现场"。四支晋级战队各派出1名代表，每轮仅有30秒至1分钟的极限输 出时间，这对舞者们的技巧、创意和应变能力都是极大的挑战。然而，四位舞者毫不畏惧，轮番上阵， 动作干净利落、爆点密集，风格各异却同样炸裂。街舞的爆发力与创意性在舞台上尽情释放，高潮迭 起，掌声不断。 经过多轮激烈的比拼，最终北体Streetrock街舞社与北方工业大学NCUTCMC街舞社强势晋级最终对 决，争夺冠军宝座；北信科EDScrew街舞社和北理工百丽宫舞团则鏖战季军席位。在最终的巅峰对决 中，北体Streetrock街舞社凭借着更加出色的发挥和默契的团队配合，一路过关斩将，勇夺冠军。在颁 奖环节，燕京啤酒为获奖战队准备了丰厚的奖金和荣誉证书。 来源：东方网 2025年7月12日，"燕京U8 舞动青春"校园舞蹈大赛线下决赛在首都国际会展中心启幕，特邀《这就是街 舞》人气主持廖搏与总台主持潘雯莉联袂担纲。一场青春与热血的街舞盛宴正式拉开帷幕。 大赛吸引了众多高校街舞社团的参与，不同风 ...

第三届链博会开幕，山东雄厚的产业基础备受关注 山东港口集团也是第三次参加链博会。集团总经理李奉利介绍，企业来参加链博会，主要聚焦于价 值链的创造。在他看来，山东是共建"一带一路"的双节点，港口在保障连通性上非常重要，"山东港口 是全世界最大的一个港口区，要把连通性搞起来，扮演好枢纽的角色，以更好服务于经济的发展。" "这次链博会山东是主宾省，我们在这里见到了国际上非常多的大供应商、大航运公司，我们在展 厅里面和世界上很多大企业一起进行展示和交流。"李奉利说。 "期待在原料研发、智能制造、绿色物流等环节，与全球伙伴深化产业链协同创新，共同提升啤酒 产业链的竞争力与活力，用一瓶好啤酒与世界干杯。"江欢说。 像青岛啤酒这样的参展鲁企，在本届链博会上有78家，展出的展品过千件。 作为本届链博会的主宾省之一，山东的展览展示面积达到2600平方米，包含主宾省主题展区、"六 链一区"独立展示、清洁能源链"齐鲁新动力"专区三个部分，集中展示了山东雄厚的产业基础，以及标 志性产业链特色，推动山东产业链、供应链国际化交流合作。 在山东高速集团的展台，山东中欧班列占据了显著位置。山东高速齐鲁号欧亚班列运营有限公司市 场运营部工作人 ...

Core Insights - The A-share market experienced a collective decline on Wednesday, with the Shanghai Composite Index down 0.03%, the Shenzhen Component down 0.22%, and the ChiNext Index down 0.22%. The total trading volume in the Shanghai and Shenzhen markets was 1,441.854 billion yuan [2][7] - In terms of industry performance, sectors such as social services, automotive, and pharmaceutical biotechnology led the gains, while steel, banking, and non-ferrous metals lagged behind. Concept sectors like animal vaccines, generic drug consistency evaluation, and artemisinin saw significant increases, whereas lead metal, silicon energy, and zinc metal faced declines [2][7] Important News - The State Council, led by Premier Li Qiang, held a meeting on July 16 to discuss key policy measures to strengthen domestic circulation. The meeting emphasized the importance of enhancing domestic circulation as a strategic move for stable economic growth, focusing on boosting consumption and optimizing supply [3][8] - The third China International Supply Chain Promotion Expo opened in Beijing on July 16, with Vice Premier He Lifeng highlighting China's role in the global supply chain and its commitment to promoting cooperation and stability in the global industrial chain [3][8] Industry Analysis - The food and beverage sector showed a lackluster performance in the first half of 2025, with revenue and net profit growth rates of 2.46% and 0.28% respectively in Q1, marking a decline compared to the previous year. The sector's stock prices fell by 7.33%, ranking second to last among 31 industries [9][10] - The macroeconomic environment indicates a focus on boosting domestic demand to achieve GDP growth targets, with comprehensive policies aimed at enhancing consumption across various sectors [10] - The food and beverage industry is witnessing three main consumption trends: rational consumption, emotional consumption, and health-oriented consumption, which are driving changes in consumer behavior and creating new growth opportunities [10] Investment Opportunities in Food and Beverage Sector - Growth Tracks: - Energy drinks are experiencing high demand, with a projected compound annual growth rate of 10.2% from 2024 to 2029. Companies with competitive advantages in this segment are recommended for investment [12] - The snack industry is evolving with new sales channels and product innovations, particularly in health-oriented snacks [12] - The health supplement market is seeing structural investment opportunities driven by increased health awareness among younger consumers [12] - Marginal Improvement Tracks: - The beer industry is expected to see improved profitability due to cost reductions and a recovery in mid-to-high-end demand driven by the restaurant sector [13] - The condiment market is benefiting from lower raw material costs and a growing demand for health-oriented products [13] - The dairy sector is anticipated to recover as inventory levels normalize and demand increases due to consumption stimulus policies [13] - Bottoming Tracks: - The liquor industry is currently in a phase of inventory destocking, with performance expected to remain under pressure. However, the market has adjusted expectations for liquor company profits, potentially limiting downside risk [14]

政策与新趋势共振，把握结构性机会 [Table_ReportType]——2025 年中期食品饮料行业投资策略报告[Table_ReportDate] [Table_Summary] 回顾：2025 年上半年，食品饮料业绩和股价表现较为低迷。①从业绩 来看，2025 年 1 季度，申万食品饮料板块营收/归母净利润同比 +2.46%/+0.28%，增速较去年同期-4.32pcts/-15.68pcts，在 31 个申 万一级行业中分别排名第 15/19。②从股价来看，2025 年上半年，食 品饮料板块股价下跌 7.33%，涨幅在申万 31 个一级行业中排名倒数第 二，其中白酒板块成为下跌重灾区。③从估值来看，当前食品饮料板 块七年跨度区间的 PE 估值百分位为 7.26%，处于历史低位。 展望：①从宏观层面来看，在贸易冲突加剧背景下，要实现 GDP 增速 目标，提振内需为重中之重。2025 年 3 月 16 日，中共中央办公厅、 国务院办公厅印发《提振消费专项行动方案》，从 8 个方向出发全面 提升消费，部署了 30 项重点任务，政策全面性和力度之大，前所未 有，并且政策端开始重视生育补贴、"反内卷"等长效机制 ...

宁波乐惠国际工程装备股份有限公司 会议资料 股东大会会议资料 目 录 股东大会会议资料 宁波乐惠国际工程装备股份有限公司 会议时间：2025 年 8 月 1 日 14：00（星期五） 现场会议地点：浙江省宁波市象山县西周镇朝晖路 1 号公司二楼会议室 会议召集人：董事会 主持人：董事长赖云来先生 投票方式：本次股东大会所采用的表决方式是现场投票和网络投票相结合 的方式。 明材料（授权委托书、营业执照复印件、身份证复印件等）并领取《表决票》。 二、主持人宣布会议开始并宣读本次大会出席情况。 三、董事会秘书宣读大会会议须知。 四、选举两名股东代表、一名监事代表和一名律师参与监票与计票。 网络投票系统：上海证券交易所股东大会网络投票系统。 网络投票起止时间：自 2025 年 8 月 1 日 至 2025 年 8 月 1 日 采用上海证券交易所网络投票系统，通过交易系统投票平台的投票时间为 股东大会召开当日的交易时间段，即 9:15-9:25,9:30-11:30，13:00-15:00；通过互 联网投票平台的投票时间为股东大会召开当日的 9:15-15:00。 会议议程： 一、与会人员签到，领取会议资料；股东（或股 ...