中国发展网讯 日前，长江上游经济中心重庆市的武隆区举行了一场关于"中国火锅苕粉之乡"的品牌大会。该次大会透露，重庆市武隆 区正在打造具有全国乃至全球影响力的地域品牌，围绕甘薯全产业链发展，通过"基地-加工-品牌-市场"四维驱动构建10亿级产业集 群，并计划建设1个甘薯全产业链发展体系，培育10家龙头企业。 今年4月份，武隆被世界火锅产业联合会授予"中国火锅苕粉之乡"称号，标志着武隆的苕粉产业正式走向全国。 当前，武隆区正围绕"武隆苕粉、武隆火锅苕粉、武隆烧烤苕皮"等产品推进地方生产标准制定，鼓励经营主体制定企业标准，以标准 化确保产品质量。 接下来，围绕"中国火锅苕粉之乡"这一品牌，重庆市武隆区将按照"政府引导、市场主导、企业主体、多方协同"的原则，积极提升品 牌影响，深入挖掘苕粉历史渊源、工艺特色和地域文化内涵，并统一"中国火锅苕粉之乡"标识，创新开发"苕粉制作体验"等文旅项 目，真正让武隆的"火锅苕粉"成为代表地方特色、承载文化内涵、享誉全国乃至全世界的一个"金字招牌"。（李永顺/文 武隆区宣/图） 重庆市武隆区"中国火锅苕粉之乡"品牌大会 现在，武隆区已建成3座淀粉加工厂，年加工能力达5万吨，苕粉加工年 ...

Group 1 - The core idea of the article emphasizes the integration of ethnic reforms and innovations in Zaozhuang, promoting the creation of a national model city for ethnic unity and progress [1][2] - Zaozhuang has established the "Pomegranate Seed" service center to support the employment and entrepreneurship of various ethnic groups, enhancing mutual development among them [3][4] - The city is leveraging its resources to develop projects such as photovoltaic power generation and e-commerce centers in ethnic villages, contributing to collective income growth [4][5] Group 2 - The "Pomegranate Seed" service center has facilitated the integration of minority populations into the community, helping them find a sense of belonging and contributing to local economic activities [3][4] - Zaozhuang's initiatives include strategic partnerships with companies in other regions, such as the establishment of a technology industrial park, which aims to create a complete industrial chain [4][5] - The development of the pomegranate industry in Zaozhuang serves as a link between different regions, promoting economic cooperation and cultural exchange [4][5]

Report Summary 1. Overnight Night Market Trends - Domestic futures main contracts mostly rose, with coking coal up over 6%, coke and fuel oil up over 4%, glass up over 3%, and iron ore and butadiene rubber up over 2% [3]. - International precious metal futures generally rose, with COMEX gold futures up 1.05% to $3417.20 per ounce and COMEX silver futures up 2.10% to $38.88 per ounce [4]. - International oil prices rose slightly, with the US crude oil main contract up 0.39% to $63.77 per barrel and Brent crude oil main contract up 0.21% to $67.26 per barrel [5]. - London base metals all rose, with LME zinc up 1.45%, LME aluminum up 1.43%, LME tin up 1.27%, LME lead up 1.12%, LME copper up 0.87%, and LME nickel up 0.31% [5]. - International agricultural product futures showed mixed performance, with US soybeans up 0.21%, US corn flat, US soybean oil up 2.31%, US soybean meal down 0.66%, and US wheat down 0.42% [7]. 2. Important Information Macro Information - Shanghai Export Containerized Freight Index dropped 44.83 points to 1415.36, and China Export Containerized Freight Index fell 1.5% to 1174.87 [9]. - The People's Bank of China will conduct 600 billion yuan of MLF operations on August 25, 2025 [9]. - Li Qiang chaired an executive meeting of the State Council to hear a report on the implementation of large - scale equipment renewal and consumer goods trade - in policies [10]. - Trump threatened to fire Fed Governor Cook if she doesn't resign due to mortgage fraud allegations [10]. - Fed Chairman Powell signaled support for a 25 - basis - point rate cut in September, and traders increased bets on a September rate cut to nearly 90% [10]. - The China Securities Regulatory Commission issued the Interim Provisions on the Internet Marketing Management of Futures Companies, effective October 9, 2025 [12]. - As of the end of July, the total installed power generation capacity in China was 3.67 billion kilowatts, up 18.2% year - on - year [13]. Energy and Chemical Futures - Last week, PVC social inventory increased 5.09% week - on - week to 852,700 tons, with different trends in East and South China [16]. - The US Treasury sanctioned two Chinese companies for facilitating Iranian oil transportation, and China opposed such sanctions [16]. Metal Futures - Some smelters in Anhui may reduce production due to losses, and production in Henan and Inner Mongolia declined due to raw material shortages [19]. - A 7.5 - magnitude earthquake in the Drake Passage had limited direct impact on Chilean copper mines [19]. - The China Photovoltaic Industry Association issued an initiative to maintain market order [19]. - As of August 22, the average market price of polysilicon was 47.4 yuan per kilogram, with a profit of 7.92 yuan per kilogram [20]. - A closed - door meeting on the lithium iron phosphate industry was held in Shenzhen on August 22 [20]. Black - Series Futures - Iron ore inventory at 47 Chinese ports increased by 626,300 tons week - on - week, and daily throughput decreased [22]. - The blast furnace operating rate of 247 steel mills was 83.36%, down 0.23 percentage points week - on - week, and daily pig iron output increased slightly [24]. - The steel industry is expected to maintain a stable and positive trend, with domestic steel consumption slowly declining but remaining above 80 million tons before 2030 [24]. - Iron ore and lithium concentrate exports from Port Hedland decreased in July 2025, while manganese ore exports increased [24]. - The operating rate of silicon - manganese enterprises in the South increased, and the national average operating rate reached 46.37%, with daily output at a one - year high [25]. - Coke purchase prices in Shandong and other markets increased [25]. - The maximum volume of coke futures standard warehouse receipts of Wuchan Zhongda Metal Group Co., Ltd. at Rizhao Port was expanded [25]. - Steel social inventory in 21 cities increased in mid - August [25]. - Some Shandong coke enterprises increased production cuts, and the global and Chinese steel production showed different trends in July [27]. - The total steel inventory in the Chinese market increased week - on - week [27]. Agricultural Product Futures - As of August 22, self - breeding and self - raising pig farming was profitable, while purchasing piglets for farming was still at a loss [29]. - Canada's estimated rapeseed production increased by 12.9% to 20.1 million tons, and carry - over stocks doubled [29]. - The Saskatchewan provincial governor of Canada plans to visit China to discuss rapeseed issues [29]. - Pro Farmer estimated higher corn and soybean yields in Iowa in 2025 [30]. - Argentina's 2024/2025 soybean planting area and output were estimated to increase [30]. - Malaysia's palm oil production from August 1 - 20 increased by 3.03% compared to the same period last month [30]. - US private exporters reported corn sales to Spain and Costa Rica [31]. - In the 34th week, the actual soybean crushing volume of oil mills was 2.27 million tons, with an operating rate of 63.81% [31]. - The US EPA approved some biofuel exemption applications for small refineries [31]. - Pro Farmer predicted record - high average yields for US corn and soybeans in 2025 [31]. 3. Financial Market Finance - Last week, A - shares continued to rise, with technology - growth sectors leading the gains. Future market trends will be driven by profit improvement [34]. - As of August 24, 978 out of 1688 A - share companies that disclosed 2025 semi - annual reports had year - on - year profit growth, and 288 companies planned to distribute dividends worth 164.698 billion yuan [34]. - Since August 22, over 100 A - share companies announced mid - term dividend plans, supported by policies [34]. - The scale of equity ETFs exceeded 4 trillion yuan, with an increase of nearly 800 billion yuan this year [35]. - High - net - worth individuals and corporate clients are the main participants in the current A - share market. Future investment should focus on specific sectors [35]. - Nearly 70% of quantitative hedge funds had negative returns in the past year [36]. - Some popular track funds faced redemption pressure and potential liquidation, but there are still structural opportunities [36]. - A large - scale asset management product of Galaxy Jinhui Asset Management will be extended until the end of this year and then converted into a public fund [36]. Industry - China's computing power platform is accelerating construction, and the intelligent computing power scale is expected to grow by over 40% in 2025 [37]. - The 33rd Guangzhou Fair ended with 83 signed cooperation projects worth 40.081 billion yuan [37]. - In July 2025, China's electricity market trading volume was 624.6 billion kilowatt - hours, up 7.4% year - on - year, and green electricity trading increased significantly [39]. - From January to July, the added value of five major machinery industries increased year - on - year [39]. - The 27th China Robot and Artificial Intelligence Competition's humanoid robot special competition was held in Hefei [39]. - The total box office of the 2025 summer movie season exceeded 1.1 billion yuan [40]. - Express companies in Guangdong and Zhejiang raised prices for e - commerce customers [40]. - Hubei's first 50 - kilometer cross - city drone logistics route was successfully launched [40]. Overseas - South Korean President Lee Jae - myung and Japanese Prime Minister Ishiba Shigeru held talks and agreed to promote bilateral cooperation [41]. - Indian Prime Minister Modi will visit Japan from August 29, and Japan may set a goal of 10 trillion yen in private investment in India over the next 10 years [42]. International Stock Markets - Uncertainties in the Fed's rate - cut expectations and Nvidia's upcoming earnings report may affect the US stock market [43]

Report Industry Investment Ratings Not provided in the given content. Core Views of the Report - Global central bank meeting, Powell's dovish speech, market's Fed rate - cut expectation heats up, boosting risk appetite and affecting multiple asset prices [13][17][58] - Multiple commodities are affected by various factors such as supply - demand, policies, and international events, showing different trends and investment opportunities [26][32][59] Summary by Directory 1. Financial News and Reviews 1.1 Macro Strategy (Gold) - Trump plans to impose tariffs on imported furniture, and Powell hints at a September rate cut [12][13] - Gold price rose about 1% on Friday. Market priced in a 25bp rate cut in September and two rate cuts this year. But current positives can't break gold out of the consolidation [13] - Investment advice: Gold price will continue to fluctuate in the short - term [14] 1.2 Macro Strategy (Foreign Exchange Futures - US Dollar Index) - Iran's supreme leader rules out direct talks with the US, and the US vice - president says new sanctions on Russia are "not impossible" [15][16] - Powell's speech at the central bank annual meeting is dovish. The Fed's policy focus shifts to the labor market, and the US dollar index trends weaker [17] - Investment advice: The US dollar trends weaker [18] 1.3 Macro Strategy (US Stock Index Futures) - Powell signals a rate cut, and Canada cancels some retaliatory tariffs on US goods [19][20] - Market sentiment turns cautious initially, then risk appetite recovers after Powell's dovish speech. US stocks are expected to fluctuate strongly in the short - term [21] - Investment advice: Expect US stocks to fluctuate strongly in the short - term due to rate - cut expectations. Pay attention to Nvidia's earnings report and July PCE data next week [21] 1.4 Macro Strategy (Stock Index Futures) - Chinese leaders attend the SCO Summit - related events, and the State Council studies measures to release sports consumption potential [22][23] - A - shares are strong with increasing trading volume, showing a short - term bullish pattern. But beware of the test of mid - year reports [24] - Investment advice: Suggest balanced long positions in stock index futures [25] 2. Commodity News and Reviews 2.1 Black Metal (Steam Coal) - As of the end of July, the cumulative installed power generation capacity is 36.7 billion kilowatts, with solar and wind power growing significantly [26] - Coal price ends its rising trend and enters a weak consolidation. It is expected to fluctuate between 650 - 700 yuan in the future [26][27] - Investment advice: Coal price may decline slightly with the season. It is expected to fluctuate between 650 - 700 yuan [27] 2.2 Black Metal (Iron Ore) - Guangxi acquires 20,000 existing commercial housing units [28] - Iron ore price continues to fluctuate. Its fundamentals are slightly weak, and the market sentiment is divided. It is expected to maintain a consolidation pattern [28][29] - Investment advice: Iron ore price is expected to fluctuate. The downside is limited, and it is expected to remain in a consolidation pattern [29] 2.3 Agricultural Products (Soybean Oil/Rapeseed Oil/Palm Oil) - The WTO supports Indonesia in the biodiesel tariff dispute, and the Trump administration makes decisions on SRE applications [30][31] - The negative impact of SRE is less than expected, and US soybean oil price rebounds. Domestic edible oils are expected to rise and then fluctuate [32] - Investment advice: After last week's adjustment, US biofuel policies drive up US soybean oil price. Domestic edible oils are expected to rise and then fluctuate, with palm oil having the largest increase [32] 2.4 Agricultural Products (Cotton) - Cotton mills destock, Brazil's cotton exports reach a record high, and US cotton export contracts are poor [33][34][35] - US cotton export contracts are still weak, and ICE cotton price is expected to fluctuate at a low level in the short - term [35][36] - Investment advice: ICE cotton price has limited upward momentum and is expected to fluctuate at a low level in the short - term. Pay continuous attention to demand [36] 2.5 Agricultural Products (Sugar) - Brazil's port sugar inventory decreases, a large - scale sugar shipment is made to China, and sugar production estimates are lowered [37][38][40] - International sugar production may be lower than expected, supporting sugar price. Zhengzhou sugar price is expected to fluctuate, and there may be long - entry opportunities on dips [41][42] - Investment advice: Zhengzhou sugar price has limited downside and is expected to fluctuate. Wait for long - entry opportunities on dips for the January contract [42] 2.6 Black Metal (Rebar/Hot - Rolled Coil) - Steel mills' iron - making capacity utilization and iron - water output are at a certain level, and the automobile industry's inventory decreases [43][44] - Steel products continue to accumulate inventory, and steel price is expected to fluctuate. Pay attention to actual demand release in mid - to late September [44][45] - Investment advice: Steel price fluctuates. Wait for market dips [46] 2.7 Agricultural Products (Soybean Meal) - Brazil's soybean production is expected to increase by 3%, and Pro Farmer predicts US soybean yield [47][48] - CBOT soybean price rises due to demand. China's soybean imports in Q4 to next Q1 affect soybean meal supply. Long positions on dips are recommended [49] - Investment advice: Long soybean meal on dips but don't chase highs. Pay continuous attention to Sino - US relations [49] 2.8 Agricultural Products (Corn Starch) - Cassava starch port inventory decreases slightly, and the price difference with corn starch widens slightly [50][51] - Corn starch inventory pressure is high, and the CS11 - C11 spread may strengthen when new - season production is determined [51][52][53] - Investment advice: The CS11 - C11 spread may strengthen when new - season production is determined [53] 2.9 Agricultural Products (Corn) - Corn price in North China is weakening, and the market is bearish as new grain approaches [54] - Corn futures price may fluctuate widely around 2150. Hold short positions and 11 - 3 reverse spreads [54] - Investment advice: Hold short positions and 11 - 3 reverse spreads. Pay attention to weather and policies [54] 2.10 Non - Ferrous Metals (Copper) - Glencore plans to produce 1 million tons of copper in Argentina, and Freeport Indonesia will accelerate copper concentrate exports [55][56] - Powell's dovish speech supports copper price. Copper price is expected to turn to a fluctuating - strong pattern in the short - term [58][59] - Investment advice: Adopt a short - term long - biased strategy for copper futures. Take profits on domestic - foreign reverse spreads and turn to observation [59] 2.11 Non - Ferrous Metals (Lithium Carbonate) - The "capacity clearance" document is confirmed, and a phosphoric acid iron - lithium industry meeting is held [60] - Short - term de - stocking provides support, and there are opportunities for long positions on dips and positive spreads [61] - Investment advice: Pay attention to long - entry opportunities on dips and positive spreads [61] 2.12 Non - Ferrous Metals (Polysilicon) - The photovoltaic industry advocates fair competition, and Huadian Group's 20GW photovoltaic module procurement is bid [62][64] - Component prices are expected to rise, driving up upstream prices. Polysilicon price is expected to fluctuate between 49,000 - 57,000 yuan/ton in the short - term [65][66] - Investment advice: Adopt a long - biased strategy on dips for polysilicon futures. Consider 11 - 12 reverse spreads around - 2000 yuan/ton [66] 2.13 Non - Ferrous Metals (Industrial Silicon) - The operating capacity of industrial silicon's main production areas increases [67] - The fundamentals of industrial silicon are slightly weakening. Its price is expected to fluctuate between 8200 - 9500 yuan/ton. Pay attention to range - trading opportunities [68] - Investment advice: Pay attention to the resumption rhythm of large factories in Xinjiang. Industrial silicon price may fluctuate between 8200 - 9500 yuan/ton. Pay attention to range - trading opportunities [68] 2.14 Non - Ferrous Metals (Nickel) - GEM signs a strategic cooperation agreement with Weilan Lithium [69] - Powell's dovish speech may boost nickel price in the short - term. Nickel price is expected to fluctuate, with short - term long - entry opportunities and medium - term short - entry opportunities on highs [70][71] - Investment advice: Short - term long - entry opportunities and medium - term short - entry opportunities on highs for nickel [71] 2.15 Non - Ferrous Metals (Lead) - LME lead shows a discount, and lead's supply - demand is weak [72] - Lead price has cost support, and it is recommended to observe in the short - term [72][73] - Investment advice: Observe in the short - term for lead [73] 2.16 Non - Ferrous Metals (Zinc) - LME zinc shows a discount, and a Peruvian zinc mine resumes operation [74] - Zinc price may fluctuate strongly in the short - term. Pay attention to medium - term positive spreads and maintain a positive - spread strategy before overseas inventory bottoms out [75] - Investment advice: Observe for zinc in the short - term. Pay attention to medium - term positive spreads and maintain a positive - spread strategy before overseas inventory bottoms out [75] 2.17 Energy Chemicals (Carbon Emissions) - EUA's closing price is 72.53 euros/ton, and carbon price is affected by energy and geopolitics [76] - EU carbon price is expected to fluctuate in the short - term [76][77] - Investment advice: EU carbon price will fluctuate in the short - term [77] 2.18 Energy Chemicals (Crude Oil) - US oil rig count decreases [78] - Oil price rises slightly and is expected to fluctuate in a range, waiting for new drivers [78][79] - Investment advice: Oil price will fluctuate in a range in the short - term, waiting for new drivers [79] 2.19 Energy Chemicals (Caustic Soda) - The price of caustic soda in Shandong rises, with supply increasing slightly and demand stable [80][81] - Caustic soda price is expected to stabilize in the short - term. Be cautious when chasing highs [83] - Investment advice: The 9.3 military parade may disrupt supply. The spot price may have limited upside. Be cautious when chasing highs [83] 2.20 Energy Chemicals (Pulp) - The price of pulp in Shandong rises, with supply increasing slightly and demand stable [82][84] - Pulp price is expected to fluctuate in the short - term [85] - Investment advice: Pulp price will fluctuate in the short - term [85] 2.21 Energy Chemicals (PVC) - PVC powder price is narrowly sorted, with weak downstream procurement and some good export orders [86] - PVC price is expected to be weak in the short - term due to anti - dumping duties [87] - Investment advice: PVC price is expected to be weak in the short - term due to anti - dumping duties [87] 2.22 Energy Chemicals (Bottle Chips) - Bottle chip factory export quotes change little, and domestic prices increase [88][89] - Bottle chip inventory is decreasing due to production cuts. Its price follows polyester raw materials [89] - Investment advice: Bottle chip inventory is decreasing due to production cuts. Pay attention to the pressure from device restart and new capacity [89] 2.23 Energy Chemicals (Soda Ash) - Soda ash market in Shahe fluctuates, with prices slightly rising and stable basis [90] - Soda ash price rises slightly, with stable fundamentals. Adopt a short - entry strategy on highs [90] - Investment advice: Adopt a short - entry strategy on highs for soda ash. Pay attention to supply disturbances [90] 2.24 Energy Chemicals (Float Glass) - Float glass price in Shahe is stable, with different factory shipment situations [91] - Glass price rises slightly. Be cautious with single - side operations and focus on arbitrage [92] - Investment advice: Be cautious with single - side operations for float glass. Focus on the long - glass short - soda - ash arbitrage strategy when the spread widens [92] 2.25 Shipping Index (Container Freight Rate) - A shipping company halts a new - shipbuilding plan due to high costs [93] - SCFI index declines. Container freight rate is expected to decline, and the futures price is expected to fluctuate. Look for short - entry opportunities on highs [93][94] - Investment advice: Look for short - entry opportunities on highs for container freight rate futures. The October contract tests the 1300 support level [94]

Group 1 - Promoting agricultural product exports is a crucial way to expand foreign trade, with a focus on extending the agricultural product industry chain and enhancing quality and safety standards to improve international competitiveness [1] - Different regions in China are leveraging their unique agricultural conditions to develop distinctive agricultural products, such as the fresh corn industry in Jilin Province, which has achieved an output value exceeding 5.4 billion yuan and exports to 24 countries [2] - Yunnan Province, with its favorable natural conditions for coffee production, reported agricultural product exports of 8.03 billion yuan in the first half of the year, a 15% increase, with coffee exports valued at 650 million yuan, up 8.4% [3] Group 2 - Policy support is essential for the export of specialty agricultural products, with local governments providing technical guidance and market information to create favorable conditions for exports [4] - Gansu Province has implemented the "Gansu Flavor Going Abroad" initiative, resulting in agricultural product exports of 1.62 billion yuan in the first half of the year, with significant growth in various product categories [4] - Financial and tax services are being enhanced to support agricultural exports, with local tax authorities providing assistance to companies like Jilin's Gijujian Industry Co., which has benefited from export tax rebates [5][6] Group 3 - Efforts are being made to streamline export channels for specialty agricultural products, including the use of cold chain logistics and cross-border e-commerce platforms to enhance market reach [7] - The launch of the "Luliang Vegetable Train" has significantly reduced transportation time for agricultural products to Southeast Asia, showcasing the advantages of cross-border logistics [7] - Jilin Province's cross-border e-commerce management platform achieved an import and export total of 5.2 billion yuan last year, indicating a substantial increase in online export activities [7]

Core Viewpoint - The options for eggs, corn starch, and live pigs have been successfully listed for one year, demonstrating stable operation and orderly participation from the industry, providing effective risk management tools for enterprises [1][7]. Group 1: Market Performance - As of August 22, 2025, the egg options had an average daily trading volume of 46,000 contracts, with a daily trading value of 13.21 million yuan, accounting for 18.8% of the underlying futures trading volume [1]. - Corn starch options had an average daily trading volume of 15,000 contracts and a daily trading value of 347,400 yuan, representing 10.5% of the underlying futures trading volume [1]. - Live pig options recorded an average daily trading volume of 8,000 contracts and a daily trading value of 1.6019 million yuan, making up 13.7% of the underlying futures trading volume [1]. Group 2: Industry Adoption - Companies are increasingly utilizing options to lock in profits, reduce costs, and enhance returns, building on their previous use of futures [2]. - Sichuan Green Science Poultry Industry Co., Ltd. has adopted a strategy of selling call options to secure fixed income amid declining egg prices, which have fallen below feed costs [3]. - Zhu Cheng Xingmao Corn Development Co., Ltd. employs various hedging strategies using corn starch options to manage costs and risks associated with their production and sales [4]. Group 3: Strategic Insights - The use of options has become a necessary tool for enterprises facing market uncertainties, allowing them to maintain operational stability and profitability [6]. - Recommendations for companies new to options include starting with small volumes and simple strategies, aligning operations with production plans, and avoiding speculative practices [6]. - The exchange plans to optimize option contract rules and enhance training to improve industry participation and support stable operations [7].

▌来源：桐城市融媒体中心 ▌责编：木子 小鱼 徐良平在讲话中指出，中国·桐城绿立方锌谷产业园项目是引领桐城富锌农业高质量发展的"领头雁"，更是驱动区域经济腾飞的"新引擎"。他 表示，桐城经开区将始终秉持"企业至上、服务为本"的理念，当好项目建设的"金牌服务员"，以最高效率、最优服务、最实举措，全周期护航 项目从建设到运营的每一个环节，为产业园早日建成和运行提供坚实保障。 据了解，该项目总投资达30亿元。项目建成后，将形成集富锌农产品数字工厂、非遗工艺观光基地、生产研发中心、"一村一播"电商基地于一 体的现代化产业园区，在特色产业升级、产业链拓展、促进群众增收等方面发挥重要作用。 图为项目开工仪式现场。 8月20日，中国·桐城绿立方锌谷产业园项目开工仪式在桐城经开区举行。市委常委、桐城经开区党工委书记徐良平，市委常委、副市长水涛出 席开工仪式。市委常委、常务副市长汪杰贤宣布项目开工。 ...

管理费用变动幅度为141.96%,原因:本期公司减产后部分工厂停工停产将未开工工厂损失计入当期费 用。 财务费用变动幅度为77.72%,原因:本期存量及新增借款增加，导致利息支出同比增加。 据证券之星公开数据整理，近期*ST中基（000972）发布2025年中报。截至本报告期末，公司营业总收 入2.45亿元，同比下降0.08%，归母净利润-7470.31万元，同比下降733.0%。按单季度数据看，第二季度 营业总收入1.66亿元，同比上升32.07%，第二季度归母净利润-6744.74万元，同比下降1259.14%。本报 告期*ST中基三费占比上升明显，财务费用、销售费用和管理费用总和占总营收同比增幅达101.05%。 本次财报公布的各项数据指标表现不尽如人意。其中，毛利率-3.76%，同比减121.69%，净利 率-31.5%，同比减726.5%，销售费用、管理费用、财务费用总计6786.05万元，三费占营收比27.71%， 同比增101.05%，每股净资产-0.13元，同比减147.4%，每股经营性现金流-0.13元，同比减331.95%，每 股收益-0.1元，同比减733.33% | 项目 | 2024 ...

Core Viewpoint - The Shanghai Cooperation Organization (SCO) is actively promoting regional sustainable development through enhanced cooperation in various sectors, including connectivity, agriculture, industry, green industries, and digital economy, especially in the context of geopolitical conflicts and trade barriers [1][2]. Group 1: Connectivity Enhancement - The SCO serves as a significant platform for the Belt and Road Initiative, facilitating infrastructure cooperation and trade facilitation among member states [2]. - In the first seven months of 2025, China's total import and export volume with SCO member countries via land transport reached 677.4 billion yuan, an increase of 7.4%, while air transport reached 251.01 billion yuan, with a growth of 44.6% [2]. Group 2: Economic Transformation and Upgrading - The SCO provides a platform for sharing experiences in agricultural technology and industrial collaboration, enhancing the sustainability and autonomy of member countries' economic development [3]. - Uzbekistan has adopted Chinese drip irrigation technology, significantly improving cotton yield and water resource management [3]. - The establishment of the China-Belarus "Great Stone" Industrial Park has attracted over 150 enterprises from 15 countries, fostering industrial clusters in various sectors [3][4]. Group 3: New Cooperation Opportunities - The SCO countries are diversifying cooperation in green technology and digital infrastructure, which supports sustainable development [6]. - The 100 MW photovoltaic power station in Kazakhstan exemplifies successful green energy collaboration, aiding the region's transition to a low-carbon economy [6]. - The establishment of the "Silk Road E-commerce" comprehensive service base aims to enhance cross-border e-commerce and logistics [6]. Group 4: Digital Economy and Technological Innovation - The development of 5G networks in Kyrgyzstan has increased internet penetration from 43% to over 70%, showcasing the impact of digital infrastructure [6]. - The digital healthcare platform in Tajikistan provides remote medical consultations, benefiting remote populations [6]. - The SCO's focus on digital cooperation and multilateral coordination is expected to enhance member states' autonomous development capabilities [7].

Core Insights - The 33rd Guangzhou Expo and the 2025 Guangzhou Consumer Assistance Exhibition have commenced, showcasing over a thousand unique products from eight cities in Guizhou, including tea, local delicacies, and specialty items [1][3] Group 1: Event Overview - The exhibition adopts innovative sales strategies such as live streaming, on-site promotions, and scenario-based sales to connect Guizhou's products directly with consumers in the Guangdong-Hong Kong-Macao Greater Bay Area [3][4] - The design of the Guizhou pavilion incorporates iconic landmarks from both regions, symbolizing the deep connection between them [6][11] Group 2: Product Highlights - Popular products include "Xiaomanyao" mineral water, "Qianyougu" prickly pear juice, and various new tea drinks, with significant sales achieved through live streaming, including 500 cups sold in half a day [8][12] - The "Cool Three Treasures" gift box from Liupanshui, containing kiwi, prickly pear juice, and tea, has seen a 20% increase in sales due to packaging adjustments for family consumption [12][19] Group 3: Consumer Engagement - The event features immersive experiences, allowing consumers to taste and learn about Guizhou's unique flavors and culture, enhancing product appeal [9][11] - Various promotional activities, such as photo-sharing incentives and discounts on local products, aim to attract visitors to Guizhou's tourism and agricultural offerings [16][17] Group 4: Business Impact - The expo serves as a significant platform for buyers, with notable agreements reached, including a 100 million yuan contract for local products [19] - The collaboration between Guizhou and the Greater Bay Area is expected to continue evolving, focusing on sustainable and precise assistance models to promote Guizhou's products and attract investment [19]