Core Viewpoint - The fourth ministerial meeting of the China-Latin America and Caribbean Community Forum emphasizes the importance of environmental cooperation between China and Uruguay, particularly in the context of climate change and global energy transition [1][2]. Group 1: Environmental Cooperation - China and Uruguay are committed to multilateralism and environmental protection, supporting Brazil in hosting the 2025 COP30 conference, which is significant for developing countries in addressing climate change [1]. - The upcoming COP30 in the Amazon rainforest region is expected to raise awareness among local populations about the importance of protecting the Amazon [1]. Group 2: Bilateral Collaboration - There is a solid foundation for cooperation in environmental protection between China and Uruguay, with significant exchanges in renewable energy and electric vehicle promotion over the past few years [2]. - Uruguay ranks among the global leaders in wind and solar energy, while China has made notable advancements in renewable energy technology, allowing for complementary advantages in these sectors [2]. - The shift in Uruguay's primary exports to China from meat and wool to forest products like pulp, timber, and logs reflects a growing partnership that meets China's needs for sustainable forestry and contributes to Uruguay's economic benefits [2].

经营范围含森林经营和管护;森林改培;人工造林;树木种植经营;林产品采集;园林绿化工程施工;林业产品 销售;自然生态系统保护管理;林业机械服务;林业有害生物防治服务;森林防火服务;林业专业及辅助性活 动;木材加工;劳务服务（不含劳务派遣）;技术服务、技术开发、技术咨询、技术交流、技术转让、技术 推广;水土流失防治服务;森林固碳服务;土地整治服务;生态恢复及生态保护服务;碳减排、碳转化、碳捕 捉、碳封存技术研发;城市绿化管理;花卉种植;中草药种植;农产品的生产、销售、加工、运输、贮藏及 其他相关服务;木材销售;智能农业管理;农作物种子经营（仅限不再分装的包装种子）;农副产品销售;工 程和技术研究和试验发展;休闲观光活动;草种植（除依法须经批准的项目外，自主开展法律法规未禁 止、未限制的经营活动） 天眼查App显示，近日，张家口翠垣林储林业有限公司成立，法定代表人为张小龙，注册资本5000万人 民币，由张家口崇礼区扶农农业开发有限公司全资持股。 序号股东名称持股比例1张家口崇礼区扶农农业开发有限公司100% 企业名称张家口翠垣林储林业有限公司法定代表人张小龙注册资本5000万人民币国标行业农、林、牧、 渔业>林业> ...

天眼查App显示，近日，海南文儒岑山林业有限公司成立，法定代表人为殷殿奇，注册资本5000万人民 币，由海南岑山置业投资有限公司全资持股。 企业名称海南文儒岑山林业有限公司法定代表人殷殿奇注册资本5000万人民币国标行业农、林、牧、渔 业>林业>森林经营、管护和改培地址海南省澄迈县文儒镇红岗居居民委员会1号办公楼企业类型有限责 任公司（自然人投资或控股的法人独资）营业期限2025-5-12至无固定期限登记机关海南省市场监督管 理局 序号股东名称持股比例1海南岑山置业投资有限公司100% 经营范围含许可经营项目：林木种子生产经营；木材采运；草种生产经营；家禽饲养；牲畜饲养；种畜 禽生产；水产养殖；水产苗种生产；渔业捕捞；房地产开发经营（许可经营项目凭许可证件经营）一般 经营项目：林产品采集；橡胶作物种植；森林经营和管护；人工造林；竹材采运；森林改培；树木种植 经营；农作物栽培服务；农业机械服务；畜禽粪污处理利用；农作物收割服务；智能农业管理；农业园 艺服务；农作物秸秆处理及加工利用服务；林业专业及辅助性活动；林业有害生物防治服务；水产品收 购；林业机械服务；农业生产托管服务；渔业机械服务；房地产咨询；住房租赁（ ...

Investment Rating - The overall industry investment rating is "Positive" for planting, livestock, and agricultural product processing sectors, while "Neutral" for forestry and fishery sectors [2]. Core Views - Recent grain price increases indicate a potential bottoming out of the planting industry chain, while livestock prices remain low with potential for high-level capacity adjustments. The importance of domestic agricultural supply is highlighted by tariff countermeasures, suggesting a favorable policy environment for industry development [20][23]. Summary by Sections 1. Livestock Industry Chain - **Pork**: Production capacity growth has stagnated, with the sector's valuation at a historical low, indicating long-term investment opportunities. The average price of pork is 14.82 CNY/kg, down 0.02 CNY from last week. The demand is expected to weaken in the short term, leading to a potential weak fluctuation in pork prices [5][20]. - **Poultry**: Chicken prices are fluctuating, with the average price for white feather broilers at 3.75 CNY/jin, up 0.02 CNY from last week. The industry faces high production levels, but potential price increases may occur due to reduced imports from the U.S. following tariff impositions [9][21]. - **Yellow Chicken**: Prices are expected to rise as supply tightens and consumption recovers, with prices for yellow chicken at 11.2 CNY/kg, up 0.51 CNY from last month [10][23]. - **Animal Health**: The industry shows signs of recovery, with improved performance in Q1. The introduction of domestic vaccines is expected to drive growth in the sector [11][23]. 2. Planting Industry Chain - **Seed Industry**: The focus on food security is leading to improved policies for the seed industry, with expectations for transgenic technology to accelerate. The performance of leading companies is expected to improve as valuations are currently low [12][24]. - **Grain Prices**: Recent increases in grain prices, with corn at 2327 CNY/ton (up 30 CNY) and wheat at 2462 CNY/ton (up 10 CNY), suggest investment opportunities in the sector. The decline in grain imports in Q1 indicates a tightening supply [13][24]. 3. Recommended Companies and Ratings - **Companies with Buy Ratings**: Zhongchong Co., Muyuan Foods, and Suqian Agricultural Development are highlighted as recommended investments [3][52].

Core Viewpoint - Yunnan Jinggu Forestry Co., Ltd. is undergoing a significant asset acquisition, purchasing 51% of the equity of Tangxian Huiyin Wood Industry Co., Ltd. for a total transaction price of 270.3 million yuan, which is based on an asset evaluation report that indicates an 83.7% appreciation in value [5][7]. Group 1: Transaction Overview - The transaction involves Yunnan Jinggu Forestry acquiring 51% of Huiyin Wood for 270.3 million yuan, with the equity held by multiple parties including Cui Huijun and Wang Lanchun [5][7]. - The evaluation of Huiyin Wood's total equity was assessed at 530.3 million yuan as of October 31, 2022, leading to a valuation of 270.45 million yuan for the 51% stake [7]. - The transaction has been approved by the company's board and has completed the necessary legal and regulatory procedures [8][9]. Group 2: Performance Commitments - The sellers have committed to specific profit targets for Huiyin Wood, with projected net profits of 43.53 million yuan, 57.67 million yuan, and 64.04 million yuan for the years 2023, 2024, and 2025 respectively [3][4]. - The total committed net profit over the three years amounts to 165.24 million yuan [3]. Group 3: Compliance and Governance - The independent financial advisor, Huachuang Securities, has confirmed that the transaction complies with relevant laws and regulations, including the Company Law and Securities Law [5][9]. - The company has established measures to ensure the independence of its operations and to prevent any conflicts of interest with its controlling shareholders [22][29].

Core Viewpoint - The implementation of the "work-for-relief" model in the ecological restoration projects in Ulanqab City is effectively enhancing both ecological construction and the income of local herders, demonstrating a successful synergy between environmental and economic benefits [1][2][3] Group 1: Ecological Restoration and Economic Benefits - The "work-for-relief" model allows herders to participate in ecological projects while earning income, with one herder reporting a monthly income of 2400 yuan from tree planting activities [1] - The Ulanqab City plans to implement 3.2451 million acres of ecological construction under the "Three North" project by 2025, with a total investment of 1.46 billion yuan, allocating at least 10% of the project funds for the "work-for-relief" initiative [2] - As of April, the city has employed 8415 workers daily, distributing a total of 1.263 million yuan in labor fees, showcasing the scale of employment generated through these projects [2] Group 2: Training and Innovative Models - Ulanqab City is actively conducting training and learning activities for the "work-for-relief" model to enhance the capabilities and awareness of involved personnel, thereby expanding participation opportunities for more herders [3] - The city is exploring innovative models such as "village collective + herders" and "cooperatives + herders" to encourage local participation in ecological construction, which has increased the enthusiasm of herders to engage in environmental efforts [3] - The establishment of demonstration sites in Siziwang Banner and Huade County aims to leverage the organizational role of village collectives and cooperatives, further promoting local involvement in ecological restoration [3]

Group 1: Subway Construction and Operations - Wang Yandong, a shield driver, has been working in subway construction since 2015, operating in various cities across China, including Beijing, where he is currently involved in the construction of Line 22 [3][4] - The construction of the Beijing Subway Line 22 spans approximately 81.82 kilometers and connects key areas such as the CBD core, urban sub-center, and neighboring regions, enhancing connectivity and urban development [4] - The shield tunneling operation is continuous, requiring drivers to monitor various parameters and coordinate with over sixty personnel on the surface [3][4] Group 2: Xiong'an New Area and High-Speed Rail - The Xiong'an Intercity Station is under construction in the Xiong'an New Area, designed as a fully underground station with a total building area of 173,000 square meters [7][8] - The station will feature four platforms and six tracks, integrating with the urban development of Xiong'an and serving as a key transportation hub for travelers [7][8] - Advanced construction technologies, including drones and automated systems, are being utilized to ensure quality and efficiency in the project [8] Group 3: River Management and Ecological Restoration - The Yongding River improvement project aims to enhance flood control capabilities and restore ecological balance along a 73-kilometer stretch, addressing damages caused by flooding [11][12] - The project includes the reconstruction of damaged water facilities and the implementation of protective measures for nearby villages, contributing to the overall health of the river ecosystem [11][12] - The successful restoration of the Yongding River has led to increased tourism and local economic development, showcasing the benefits of ecological management [12] Group 4: Forest Conservation Efforts - The Zhangjiakou Xuanhua Forest Farm, managed by Yang Fugui, covers 118,000 acres with a 97% vegetation coverage rate, demonstrating significant reforestation efforts over 24 years [15][16] - Advanced monitoring technologies, including drones and surveillance cameras, have been implemented to enhance forest protection and fire prevention measures [17] - Yang Fugui emphasizes the importance of hands-on management and regular inspections to ensure the health and growth of the forest [17]

Group 1 - Guangdong is focusing on the construction of large forest patches, achieving significant progress in ecological construction over the past three years, with 1,030 forest patches of over 1,000 acres enhanced [1] - The construction of large forest patches involves creating contiguous forest areas of over 1,000 acres, with 732 patches between 1,000 to 3,000 acres, 150 patches between 3,000 to 5,000 acres, and 148 patches over 5,000 acres [1] - The province is optimizing forest stands and improving forest types by adjusting tree species and avoiding uniform planting practices, prioritizing important ecological areas [1] Group 2 - Guangdong has increased its supply capacity of quality seedlings, with a total production reserve of approximately 175 million seedlings, including 110 million qualified seedlings for use in forest optimization tasks by 2025 [2] - A regional adjustment and cross-province supply mechanism for seedlings has been established, promoting the planting of various tree species to create high-quality mixed broadleaf forests [2] - As of this spring, Guangdong has completed the optimization of 995,400 acres of forest stands, with expectations to reach 2 million acres by May and another 2 million acres of forest maintenance by September [2]

良好实践 增强土地 权利确认 IN FORESTLANDS OF THE EAST ASIA AND 太平洋地区 公开披露授权 公开披露授权 公开披露授权 公开披露授权 © 2025 国际复兴开发银行 / 世界银行 1818 H Street NW Washin gton DC 20433 电话：202 -473-1000 互联网： www. worldbank.org 这项工作是由世界银行的工作人员与外部合作者共同完成的。作品中表达的观点、解释和结论不一定反 映世界银行、其执行董事会或他们所代表政府的观点。 世界银行不保证本作品中包含的数据的准确性、完整性或时效性，也不对任何信息中的错误、遗漏或差异 ，或对使用或未使用所提供的信息、方法、程序或结论的责任，以及因使用或未使用所提供的信息、方法 、程序或结论而产生的责任承担任何责任。本作品中任何地图上显示的国界、颜色、名称和其他信息并不 意味着世界银行对任何领土的法律地位或对相关国界的认可或接受。 此处所载任何内容均不构成或不应被视为对世界银行特权与豁免权的限制或放弃，所有这些特权与豁 免权均予保留。 权利与许可 本文中的内容受版权保护。因为世界银行鼓励传播其 ...

Group 1 - The company reported a revenue of 54.65 million yuan in the first quarter of 2025, representing a year-on-year decrease of 3.61% [1] - The net loss for the company was 18.92 million yuan, compared to a net loss of 8.95 million yuan in the same period last year [1]