Core Viewpoint - The rapid development of digital technology is transforming future lifestyles, as showcased at the 2025 Global Digital Economy Conference with the unveiling of the "Digital Tide City" in Beijing, featuring applications of cutting-edge technologies like AR, MR, and AIGC [1][5]. Group 1: Event Highlights - The "Digital Tide City" in Beijing showcases immersive experiences, allowing visitors to engage with technologies that can instantly create stories, illustrations, and artworks through simple gestures [1][4]. - The Beijing Fang Digital Complex spans 6,000 square meters, featuring over 50 tech companies and 10 immersive exhibition areas, highlighting the deep integration of digital technology and cultural creativity [4][5]. - Daily visitor numbers at the complex reach approximately 2,500 to 2,800, with popular attractions like the XR immersive exhibition and C919 flight simulator often resulting in long queues [4][5]. Group 2: Technological Innovations - Key innovations include a handheld device called the "Digital Elf Guide," which combines AI voice interaction and high-transparency 3D imaging technology for 3D holographic explanations of exhibits [4][5]. - Technologies on display have practical applications in daily life, such as AR smart glasses for facilitating communication for the elderly and hearing-impaired, and a 3D asset encryption system to combat digital piracy [5]. - The immersive projects not only provide entertainment but also demonstrate the empowering effects of digital technology across various sectors, including business, culture, and tourism [5].

Group 1 - China has achieved significant success in digital transformation, being recognized as a global leader in the digital economy, with expectations for further collaboration to advance the digital economy [1][2] - The scale of China's digital economy has consistently ranked second in the world, with data production expected to reach 41.06 zettabytes (ZB) in 2024, a year-on-year growth of 25%, and total computing power reaching 280 exaFLOPS [1] - As of the end of 2024, China has built a total of 4.251 million 5G base stations, with mobile IoT terminal users reaching 2.656 billion [1] Group 2 - International guests at the conference highlighted China's rapid development in digital technology over the past decade, emphasizing the need for better global communication to showcase China's development potential [2] - The digital technologies in China are evolving rapidly, with many technologies gaining industry recognition in a short time, leading to high efficiency and continuous optimization [2] - There is a strong interest from foreign visitors to learn from China's advanced technologies, such as blockchain, artificial intelligence (AI), and robotics, indicating a desire for knowledge exchange and collaboration [2][3] Group 3 - The 2025 Global Digital Economy Conference focuses on themes such as building digital-friendly cities, data elements, digital security, and artificial intelligence [3] - Participants from various sectors, including AI, finance, and real estate, are seeking to learn from China's advancements in technology while exploring business opportunities [3] - China's digital products are increasingly reaching global markets, with significant collaboration occurring between China and Arab countries in digital transformation efforts [3]

Investment Rating - The report gives a "Buy" rating for the company, marking its first coverage [1]. Core Views - The company is positioned for multi-faceted growth through environmental protection, energy, digital technology, and equipment manufacturing, with a strong focus on expanding its business model since its establishment in 2009 [8][13]. - The company has experienced rapid revenue and profit growth, with total revenue projected to reach 2,766 million yuan in 2025, reflecting a year-on-year increase of 39.34% [1][19]. - The company is actively expanding its project operations, with a significant increase in both engineering and franchise orders, indicating a robust pipeline for future revenue [8][42]. Summary by Sections 1. Environmental Protection as a Source of Growth - The company has evolved from a core business in landfill leachate treatment to a diversified model encompassing energy, digital technology, and equipment manufacturing [8][13]. - Revenue has grown from 550 million yuan in 2020 to an expected 2,766 million yuan in 2025, with a compound annual growth rate (CAGR) of 53.05% from 2023 to 2024 [1][19]. 2. Abundant Environmental Orders and Accelerated Project Operations - The company has a strong order backlog, with engineering orders increasing from 322 million yuan in 2021 to 460 million yuan in 2024, while franchise orders surged from 806 million yuan to 3,672 million yuan in the same period [42][46]. - The company is shifting its focus from water treatment to solid waste management, particularly in the garbage incineration sector, which is becoming a new growth driver [48][53]. 3. New Growth Curves in Energy, Digital, and Equipment - The company is strategically investing in high-quality renewable energy projects, including a 2GW photovoltaic project, with 1GW already under construction [8][49]. - The company is also responding to the national "East Data West Computing" strategy by optimizing its computing power resource layout across various regions [8][39]. 4. Profit Forecast and Investment Recommendations - The company is expected to achieve net profits of 500 million yuan, 608.81 million yuan, and 749.05 million yuan for the years 2025, 2026, and 2027, respectively, with year-on-year growth rates of 50%, 21.71%, and 23.04% [1][8].

Group 1 - The core viewpoint of the article is that Jiangsu Province aims to leverage digital trade to promote high-quality development of service trade, with a target of reaching a service trade scale of 600 billion yuan and digital delivery service trade of 300 billion yuan by 2030, accounting for approximately 50% of the service trade [1] - Jiangsu will focus on institutional openness in digital trade, creating a digital trade ecosystem, and aligning with high-standard economic and trade rules, including pilot cooperation in digital trade with Singapore [1] - The province plans to establish national service trade innovation development demonstration zones and national digital trade demonstration zones, enhancing infrastructure and public services in key areas like Nanjing Software Valley to facilitate domestic and international industrial chain collaboration [1] Group 2 - A significant highlight of the policy is industry empowerment, with Jiangsu focusing on developing digital product trade in the cultural industry, strengthening cultural trade bases in cities like Nanjing, Wuxi, and Suzhou, and promoting exports in sectors such as animation and film [2] - The province aims to expand digital technology trade in advantageous fields, advance high-end software development, and implement an "Artificial Intelligence+" action plan to upgrade service outsourcing and promote enterprise transformation [2] - Jiangsu will enhance international transportation service capabilities, optimize international route networks, and accelerate the development of smart ports and waterways, while also improving the international competitiveness of tourism services and supporting international education services [2]

孔火团提到，河南把创新驱动、科教兴省、人才强省战略作为首要战略，推动创新链和产业链深度 耦合，积极布局数字化技术核心领域，聚集了一大批像新华三等有责任、有担当、有实力的数字技术明 星企业，助推全省发展动能之变、结构之变、质量之变日益彰显。期待新华三等领军企业持续攻坚，力 争前沿技术广泛落地，为智算技术赋能河南人民做出卓越贡献。 河南省工商联一级巡视员 孔火团 6月27日，由郑州大学与紫光股份旗下新华三集团共同主办的"豫见数智未来·AI应用与创新研讨会"在郑 州成功举行，汇聚了河南省政企产学各界数百位嘉宾，围绕人工智能的应用实践与前沿发展趋势，共商 智能时代新举措、共启智慧发展新征程。河南省工商联一级巡视员孔火团，河南省工业和信息化厅二级 巡视员李大刚，新华三集团高级副总裁、技术委员会副主席刘新民等出席大会并致辞。 活动现场 新华三集团企业技术部专家陈华介绍了能够为企业数智化升级提供"一站式"算力+算法+数据+应用 的新华三灵犀智算解决方案。该方案覆盖AI开发全流程，不但通过提供多元算力灵活应对各种AI负 载、以高性能融合存储保障训练连续性等举措构建高品质算力底座，还有助于提供高质量数据、改善模 型算法方案、帮 ...

□ 董 鑫 数实融合，即数字经济和实体经济的融合。作为发展最迅速、创新最活跃、辐射最广泛的经济活动，数 字经济对我国经济社会发展的支撑作用日益凸显，正成为我们发展和培育新质生产力的主战场。中国信 息通信研究院发布的《中国数字经济发展研究报告（2024年）》显示，2023年我国数字经济的规模达到 了53.9万亿元，占国内生产总值（GDP）的42.8%，数字经济增长对GDP增长的贡献率达66.45%。党的 二十大报告强调，"加快发展数字经济，促进数字经济和实体经济深度融合，打造具有国际竞争力的数 字产业集群"。显而易见，数字经济在我国经济中的重要地位日益凸显，已经成为推动我国经济发展的 主要力量。 开展专精特新人才教育体系递进式层级建设。完善机制保障，建立校校、校企、校地及国际多维协同机 制，汇聚培养合力，进一步完善政府、高校、专精特新企业及数字技术企业共建产业学院，开发"数字 技术+垂直领域"模块化课程体系，设立"订单班"或"微专业"。完善校、院、专业三级教育体系。通过变 革教学模式，开展项目化教学，面向全体学生开设双创通识必修课程，打造专创融合示范课程，实 施"一专一赛、一院一品"工程，建立"通识教育课程+专 ...

Group 1 - The core objective of the implementation plan is to establish a comprehensive green low-carbon standard system by 2027, with over 100 standards to be revised or developed in the green low-carbon sector [1] - By 2030, the foundation of the industrial and information technology green low-carbon standardization work is expected to be more solid, with a more complete standard system and a more significant supporting role for standardization in green low-carbon development [1] - The plan emphasizes the importance of standard innovation in leading the cultivation of green low-carbon industries, including the development of standards for industrial green microgrids, clean low-carbon hydrogen applications, and efficient utilization of low-temperature waste heat [1] Group 2 - The implementation plan aims to strengthen the collaborative support of digitalization and greening standards, focusing on revising standards for key areas such as data centers and communication facilities [2] - It seeks to break through the application standards of digital technologies like artificial intelligence and blockchain in fine green management processes and supply chains [2] - The plan includes measures to accelerate the update of energy-saving and water-saving standards and promote the iterative upgrade of green manufacturing standards [2]

Group 1 - The sixth Western Digital Economy Expo concluded successfully, attracting over 100,000 attendees and showcasing the integration of digital technology with the real economy [1][2] - A total of 27 key projects were signed during the expo, highlighting significant achievements in the digital economy [1] - The exhibition covered an area of 10,000 square meters, featuring six major exhibition areas including new infrastructure, digital government, smart transportation, and AI big data industry [1] Group 2 - The expo included 11 thematic activities, such as six government-enterprise matchmaking events and a training session on data value mining and circulation [2] - Notable activities included the 2025 Digital Economy International Cooperation (Xi'an) matchmaking event and the "i Xi'an" construction achievement release conference, which provided valuable insights into the opportunities and challenges of digital technology integration [2] - The introduction of the "Alipay Touch" smart entry system enhanced the attendee experience, demonstrating the application of digital technology in event management [2] Group 3 - Xi'an will continue to deepen open cooperation in the digital economy sector, promoting the integration of technology research and development, industrial upgrading, and ecological construction [2]

朴之水认为，中国在推进亚洲绿色发展进程中发挥着重要作用。"一些中国新能源汽车生产商在其他国 家开设工厂，融入本地产业链供应链，助推当地可再生能源转型。"朴之水说，中国不断推进高水平对 外开放，发展新质生产力，实现了生产效率的提高、营商环境的改善。"我们乐见中国继续推进高水平 对外开放。这不仅有益于中国的经济增长，也能显著带动区域经济增长。" "亚洲开发银行和中国的目标是一致的，都致力于支持亚洲国家的发展。中国有许多值得其他国家和地 区学习的地方，随着中国经济不断发展，相信我们未来的合作空间更加广阔。"朴之水说。 当今世界百年变局深刻演变，面临的挑战和不确定性日益增多。如何在世界巨变中主动塑造亚洲未来， 成为摆在亚洲国家面前重大而急迫的任务。人工智能、大数据等前沿技术正给人类经济社会生活带来深 刻改变，亚洲各国都在积极拥抱新技术，推进数字化转型。朴之水认为，数字化转型应强调普惠包 容。"数字化有助于打破地域限制、消除信息障碍，体量较小的中小型企业可以通过数字化提高内部管 理能力，融入全球市场。" "中国在数字化转型方面表现优秀。亚洲开发银行研究显示，中国城市的数字化进程有助于实现包容性 增长，为其他国家提供经验 ...

Core Viewpoint - The 2025 Beijing Digital Economy Experience Week will take place from June 27 to July 5, showcasing the achievements of Beijing's digital economy and promoting the integration of digital technology with consumer experiences [1][3]. Group 1: Event Overview - The theme of this year's experience week is "Digital Friendly Beijing Color Show: New Trends in Consumer Experience," focusing on "Digital Consumption + Digital Friendliness" [3]. - The event aims to attract companies and consumers from the digital economy industry chain, enhancing the impact of digital economy on consumer life [3]. Group 2: Key Features - The Beijing Fang Digital Complex will be inaugurated during the event, serving as a comprehensive platform for digital display, interactive experiences, and cultural exchange, becoming a new landmark for Beijing as a digital-friendly city [3]. - The "Digital Trend" AI Spark Market will be a highlight, showcasing the latest AI consumer products and services, allowing citizens to enjoy the convenience and excitement of digital consumption [3]. Group 3: Industry Impact - The experience week will achieve three major breakthroughs in industrial ecosystem construction: - Technologically, the large-scale application of domestically produced solutions like the 3D digital asset platform will demonstrate China's innovation capabilities in digital technology [4]. - In terms of models, a complete closed-loop of "innovation-experience-consumption" will be established, facilitating the ecological cycle from technology display to consumption conversion [4]. - Culturally, a digital art district will be launched, focusing on the research, creation, and promotion of digital art, contributing to the establishment of Chinese digital cultural standards [4].