Core Viewpoint - The development of strategic emerging industries is essential for enhancing international competitiveness and achieving proactive development amidst global economic challenges and uncertainties. Mergers and acquisitions (M&A) are increasingly recognized as a means to optimize the layout of these industries, emphasizing the importance of quality and effectiveness in M&A processes [1][4]. Group 1: Current Status of Strategic Emerging Industries - The number of enterprises in strategic emerging industries in China has significantly increased, with 96,000 large-scale industrial enterprises engaged in this sector by the end of 2023, accounting for 19.5% of all large-scale industrial enterprises. Including smaller enterprises, the total exceeds 2 million, surpassing traditional manufacturing [2]. - By the end of 2024, 66 national industrial clusters have formed across nine major fields, including information technology and biomedicine, with notable regional advantages in areas like the Yangtze River Delta and the Pearl River Delta [2]. - In terms of revenue, the leading sectors in strategic emerging industries include new-generation information technology, new energy, and high-end equipment manufacturing, which together account for 85% of total revenue in this sector [2]. Group 2: Challenges Facing Strategic Emerging Industries - The current industrial layout is fragmented, with a low proportion of revenue from strategic emerging industries relative to total A-share company revenue, indicating a need for stronger economic impact [3]. - Innovation capabilities are lacking, with many enterprises not mastering key technologies, leading to reliance on imports for critical materials and components [3]. - There is a structural imbalance in talent supply, with existing talent not aligning well with the needs of strategic emerging technologies, and a lack of effective talent incentive mechanisms [3]. Group 3: Role of Mergers and Acquisitions in Enhancing Investment Efficiency - M&A can optimize resource allocation by integrating production equipment, human resources, and technology, thus enhancing investment efficiency and avoiding resource wastage [4][5]. - The realization of synergies through M&A can lead to improved operational efficiency, reduced costs, and increased revenues, thereby enhancing overall investment efficiency [6][7]. - M&A can also expand market share by consolidating supply chains and production processes, allowing companies to gain stronger bargaining power and improve investment returns [7]. Group 4: Recommendations for Enhancing Investment Efficiency in Strategic Emerging Industries - Companies should carefully plan and define goals for the development of strategic emerging industries, focusing on high-quality M&A targets that possess core technologies and are positioned in critical segments of the supply chain [8]. - There is a need to cultivate key enterprises within strategic emerging industries to enhance industry concentration and scale efficiency, leveraging both independent R&D and M&A strategies [9]. - Continuous resource integration post-M&A is crucial for maximizing the benefits of synergies and enhancing the overall value of enterprises within strategic emerging industries [10]. - A focus on cultural integration and talent incentive mechanisms is necessary to align employee goals with corporate objectives, fostering innovation and collaboration [11].

编辑/KOKO 消息面上，1月15日，龙蟠科技公告称，为实现本公司新能源业务的持续稳健发展，满足本公司日常经营需要，公司与宁德时代(03750)签署《持续关连交易 协议(采购)》。协议约定，2026会计年度， (含其附属公司及其参股30%以上公司，下同)向公司及公司附属公司支付的交易金额上限将不得超过公司根据 《香港联合交易所有限公司证券上市规则》于香港联合交易所有限公司网站不时披露的金额。公司预计2026年，宁德时代将与公司发生不超过70亿元的采购 交易。 1月16日， 高开逾4%，截至发稿，涨2.32%，报14.14港元，成交额2453.41万港元。 ...

Group 1 - The core viewpoint emphasizes the transformation of overseas Chinese from emotional connections to strategic collaborations that leverage technology and culture for development [1] - The focus is on utilizing "AI + cross-border e-commerce" to enhance cultural empowerment and facilitate the internationalization of small and medium-sized brands, shifting from mere product exports to brand and cultural value exports [1] - There is a call for collaboration in various sectors such as cultural tourism, food, and agriculture with Thailand, aiming to introduce quality resources from Thailand while promoting Ningde's unique offerings [1] Group 2 - The Australian Ningde Association plans to visit Ningde in March to explore business opportunities, highlighting the rapid development of the hometown and the potential for collaboration [2] - The UK Ningde Association expresses pride in witnessing the hometown's growth and suggests that Ningde should capitalize on its advantages in the new energy industry to cultivate quality projects along the industrial chain [2]

Core Viewpoint - The third "Spark" Innovation and Creativity Competition in Liaoning Province has commenced, focusing on the theme "Unlimited Spark, Boundless Innovation," with nearly 400 quality projects participating [1] Group 1: Event Overview - The competition is co-hosted by multiple provincial departments, including the Provincial State-owned Assets Supervision and Administration Commission, the Provincial Department of Science and Technology, and others [1] - The event aims to build a collaborative innovation ecosystem that integrates industry, academia, and research, emphasizing technological innovation and deep integration with industry [1] Group 2: Participation and Scope - This year's competition has expanded its participant base to include universities, research institutions, and medical organizations for the first time, enhancing the gathering of innovative resources [1] - A total of nearly 400 projects have been collected over two months, covering ten major fields such as high-end manufacturing, new energy, and new materials [1] Group 3: Key Directions and Evaluation - The competition focuses on four key directions: intelligent transformation, digital transformation, high-end breakthroughs, and green development, showcasing innovation achievements in critical core technologies and industrial upgrades [1] - A diversified evaluation format combining "roadshow presentations and on-site defense" will be used to identify high-quality innovative projects with technological leadership, market competitiveness, and regional influence [1]

Core Insights - The article highlights the significant transformation of China's renewable energy industry under the "dual carbon" strategy, with a focus on the 2025 ranking of cities based on their competitiveness in the renewable energy sector [1][6]. Summary by Categories City Rankings - The top three cities in the 2025 China Renewable Energy Industry Competitiveness Ranking are: 1. Jiuquan, Gansu Province - 82.13 points 2. Wuxi, Jiangsu Province - 78.92 points 3. Zhangjiakou, Hebei Province - 78.82 points - Other cities in the top ten include Suzhou, Beijing, Yancheng, Tianjin, Shanghai, Shenzhen, and Hohhot, with scores ranging from 78.67 to 78.31 [1][3][8]. Regional Insights - The western region of China is a key player in the renewable energy competitiveness ranking, with 17 cities in the top 50, including Jiuquan, Hohhot, Urumqi, and others [5]. - Jiuquan stands out due to its rich wind and solar resources, with a total wind energy resource of 200 million kilowatts and a solar thermal resource of 20 billion kilowatts, making it a national clean energy base [6][7]. Industry Development - Wuxi has developed a comprehensive renewable energy industry, with 321 large-scale enterprises and an industrial output value exceeding 180 billion yuan in the first three quarters of 2025 [7]. - Zhangjiakou, as a national renewable energy demonstration zone, has achieved a significant increase in installed capacity, reaching over 43 million kilowatts, which is 88% of the city's total power capacity [7][8]. Traditional Energy Cities - Traditional energy cities like Ordos and Yulin are showing rapid improvement in their rankings, indicating a shift from coal-based to green energy solutions [9]. - The article emphasizes that while natural conditions are currently crucial for the development of the renewable energy industry, future success will depend on factors like industrial integration and innovation capabilities [9].

Core Viewpoint - The article emphasizes the commitment of the local government in Yanjing County to implement high-quality development strategies, focusing on ecological advantages and the integration of various industries to promote sustainable growth and improve living standards. Group 1: Industry Development - The county aims to promote "three industries in parallel," focusing on ecological agriculture with tea, edible fungi, and traditional Chinese medicine as key sectors, enhancing the comprehensive benefits of these industries [6] - The strategy includes deep processing of tea and the integration of the edible fungi industry, alongside full-chain projects for mountain walnut and traditional medicinal materials [6] - The county plans to develop ecological industries in designated zones, with specific focuses on the liquor and water industries, ecological food and beverage, and green building materials [6][7] Group 2: Infrastructure Projects - The government is working on improving urban construction management systems, enhancing urban resilience, and accelerating digital infrastructure development [7] - A comprehensive transportation network is being established, including the construction of the Zhaoqian Railway and upgrades to provincial roads and highways [7] - Efforts are being made to develop a large water network, including the construction of a major reservoir and the implementation of interconnecting regional water supply projects [7] Group 3: Social Welfare and Employment - The focus is on rural revitalization and ensuring food security while expanding employment services and supporting entrepreneurship and skills training [8] - The government aims to optimize educational resources and improve public health services to ensure equitable access to development benefits [8] Group 4: Governance and Leadership - The local government emphasizes the importance of ecological protection, debt risk management, and maintaining social stability as part of its development strategy [8] - There is a strong commitment to enhancing party leadership and building a robust political ecosystem to support the county's development goals [8]

消息面上，1月8日，协鑫新能源公告宣布，拟向认购人Pharos发行1.865亿股股份，募集约1.92亿港元。 Pharos是一家专注于构建机构级通证化资产应用场景的新一代Layer1公链，投资将充分发挥Pharos的先 进技术与集团的资源优势，加速Web3与新能源产业的融合，为各方创造协同价值。同时，投资让公司 探索区块链技术于新能源产业创新的潜力，并为股东创造可持续价值。董事亦认为认购为集团扩大其资 本及股东基础的良机。 协鑫新能源(00451)再涨超10%，月内累计涨幅已超80%。截至发稿，涨6.52%，报1.47港元，成交额 3309.33万港元。 ...

消息面上，1月8日，协鑫新能源公告宣布，拟向认购人Pharos发行1.865亿股股份，募集约1.92亿港元。 Pharos是一家专注于构建机构级通证化资产应用场景的新一代Layer1公链，投资将充分发挥Pharos的先 进技术与集团的资源优势，加速Web3与新能源产业的融合，为各方创造协同价值。同时，投资让公司 探索区块链技术于新能源产业创新的潜力，并为股东创造可持续价值。董事亦认为认购为集团扩大其资 本及股东基础的良机。 智通财经APP获悉，协鑫新能源(00451)再涨超10%，月内累计涨幅已超80%。截至发稿，涨6.52%，报 1.47港元，成交额3309.33万港元。 ...

Group 1 - The consumer price index (CPI) in China increased by 0.8% year-on-year in December 2025, marking the highest growth since March 2023, driven by effective domestic demand policies and increased consumption during the New Year holiday [1] - The core CPI, excluding food and energy prices, rose by 1.2% year-on-year, indicating sustained consumer recovery momentum [1] - The industrial producer price index (PPI) showed a month-on-month increase, with the year-on-year decline narrowing, reflecting improvements in industrial production and pricing [1] Group 2 - The service sector and quality consumer goods prices have been steadily rising, with service prices increasing for eight consecutive months, indicating a shift in consumer spending from basic to quality-oriented products [2] - Prices in the digital economy sector, such as external storage devices, rose by 15.3% year-on-year, while biomass liquid fuel prices increased by 9%, showcasing the structural support for industrial prices from new productive forces [2] - The overall price recovery is supported by the optimization of demand structure and industrial upgrades, reflecting new growth momentum in the market [2] Group 3 - Policies aimed at reducing "involution" competition and building a unified national market are positively impacting PPI recovery, with prices in previously over-competitive sectors like coal and lithium batteries showing a continuous narrowing of year-on-year declines [3] - The significant year-on-year drop in pork prices by 14.6% in December is a major factor pulling down food prices and overall CPI, while international oil prices are expected to influence domestic fuel prices [3] - The recovery pace of the real estate market will also affect overall domestic demand and is a key variable in determining the price level [3] Group 4 - The internal recovery momentum is expected to dominate, promoting a continued moderate increase in prices, supported by macro policies and ongoing industrial upgrades [4] - Policies such as trade-in programs are anticipated to effectively boost consumer demand, with CPI and core CPI likely to continue their moderate upward trend [4] - The supply-demand relationship in the industrial sector is expected to improve, driven by the growth of the digital economy and green industries, leading to a potential year-on-year positive PPI by the second half of 2026 [4]

Group 1 - The core strategy of Mangya City is to establish a talent-driven city by focusing on industrial development needs and implementing a dual-driven model of "flexible talent introduction + project cooperation" [1][2] - By December 31, 2025, Mangya City aims to successfully attract 28 talents from central units and supporting cities [1] - The city has established a dynamic monitoring mechanism for urgently needed talents, regularly updating the talent demand directory and clarifying recruitment standards and indicators to enhance recruitment precision [2] Group 2 - Mangya City is focusing on key sectors such as new energy and salt lake chemicals, and is innovating a "talent flying land" model to deepen cooperation with universities, research institutions, and enterprises [2] - A total of 6 members from the "group assistance" team of Taizhou People's Hospital in Zhejiang have been successfully introduced [2] - The city has implemented a "tiered and categorized, precise drip irrigation" system for local talent cultivation, upgrading the "master-apprentice" mechanism to train 12 local backbone physicians [2] Group 3 - An "order-based" enhancement plan has been initiated, conducting skill training through both online and offline modes, with 19 key personnel sent for further training outside the region [2] - The city has launched the "Heart for Talent, Warm Care" initiative, focusing on housing security, health protection, emotional care, and warm visits, with 14 visits to aid personnel conducted since 2025 [2] - A total of 25 practical issues related to housing and medical security have been addressed, enhancing the sense of belonging and happiness among talents [2]