（来源：千龙网） 新华社北京2月23日电 题：赶订单、保供应、抓安全——春节假期企业持续生产扫描 机器轰鸣声不绝于耳、自动化生产线高速运转、工人们紧张有序地忙碌……新春佳节，年味漫溢城乡街 巷，全国不少企业生产车间依然是一番忙碌景象。 宁波超260家企业、数万名员工坚守生产一线；洛阳超280家规上工业企业保持连续生产，较2025年增加 约30家；天津有约90家重点工业企业在春节期间连续生产，预计2月24日重点工业企业的整体复工率达 86.3%……保供应、赶订单，各地共同绘就一幅春节不停工、实干促发展的奋进画卷。 稳产保供，确保春节货丰价稳年味浓。 在南京华信藤仓光通信有限公司，也是一派繁忙场景。随着人工智能浪潮席卷全球，高性能光纤光缆的 需求激增，并直接传导至生产端，企业订单已排到下半年。 拉丝工艺工程师李红军大年初一就早早返岗："订单已经饱满，春节期间，我们38条光纤生产线全开， 争分夺秒保交付。" "春节不打烊"，既是稳住客户、稳住市场的主动作为，也是企业抢占全年发展先机的重要一环。 抢抓生产，安全这根弦须臾不可松懈。 拉网式排查危化品罐区等重点区域、开展安全教育培训、增设重点看护岗位……在广西太阳纸业有 ...

美国那边有本书叫《商业争霸》，作者是达特茅斯学院的斯蒂芬·布鲁克斯和他的学生本·瓦格尔。俩人从政策圈角度切入，直指中国经济实力被外界高估 了。 书里他们用数据说话，称中国GDP实际规模顶多美国一半，因为官方数字里有水分，比如地方投资过剩导致的空置项目拉高了表象。夜间卫星灯光对比是他 们拿手的证据，美国工业区灯火密集，中国有些开发区亮度弱，推算下来经济活跃度没那么高。 他们对制造业的看法更狠，直说中国是世界工厂没错，但多干低端活儿。 拿iPhone举例，中国组装包装赚辛苦钱，设计芯片操作系统全在美国加州搞定，利润大头回流美国。高科技领域，美国企业分走55%利润，中国只拿6%。 芳纶纸强度钢丝五倍，质量五分之一，耐高温阻燃，用在航空航天隐身材料、防火服、高铁隔热。凯夫拉防弹衣中国产占全球七成，SpaceX火箭回收也受 益类似技术。中国产品物美价廉，迅速占领市场。 连接器领域，艾迈斯2002年起步，从小货车家当干起，2023年欧洲招标拿下2000台订单，故障率低80%，第二年加到2万台。美国龙头营收跌23%，两厂关 门。他们施压，造谣补贴黑名单，但艾迈斯靠PAW+GTAW焊技术，材料薄三成强度升一半，出口暴增200 ...

Core Viewpoint - The article highlights the ongoing production activities across various industries in China during the Spring Festival, emphasizing the commitment of companies to maintain supply and meet market demands despite the holiday season [1][3][4]. Group 1: Production Continuity - Over 260 companies in Ningbo and more than 280 industrial enterprises in Luoyang continued production during the Spring Festival, with an increase of approximately 30 companies compared to 2025 [1]. - In Tianjin, around 90 key industrial enterprises maintained continuous production, with an expected overall resumption rate of 86.3% by February 24 [1]. - Sichuan Zhou Hei Ya Food Co., Ltd. reported a daily production of over 50,000 "modified atmosphere packaging" products to ensure supply to stores in multiple regions [1]. Group 2: Market Opportunities - Zhejiang Hengcheng Hard Alloy Co., Ltd. experienced a significant production value increase of 230% year-on-year in January, with over 100 employees working during the holiday to meet tight delivery schedules [3]. - Nanjing Huaxin Fiber Optic Co., Ltd. reported a full operation of 38 fiber optic production lines during the Spring Festival due to high demand, with orders extending into the second half of the year [4]. Group 3: Safety Measures - Guangxi Sun Paper Industry Co., Ltd. implemented strict safety measures during the holiday, including regular inspections and approvals for hazardous operations, to ensure safe production [6]. - The State Council's Work Safety Committee emphasized the importance of safety production during the holiday, focusing on risk prevention in various industries [6]. Group 4: Support and Coordination - The Gansu Lanzhou New Area Project Construction Center coordinated with various departments to address companies' needs, ensuring uninterrupted supply and support during the holiday [7]. - Local governments established 24-hour service hotlines and conducted special visits to ensure continuous production and address any operational challenges faced by enterprises [7].

春节期间，人民币汇率走出强势拉升行情。2月21日，人民币汇率稳守6.89区间；2月19日，离岸人民币 最低触及6.88，在岸人民币同步升至6.885，双双刷新2023年4月以来高点。进入2月以来，人民币汇率升 值幅度接近1.3%。 尽管春节长假期间国内股市、债市、汇市三大市场均不开市，但是人民币汇率大涨仍是利好。 "人民币汇率大涨，直白说就是人民币国际购买力变强。假期内换外汇、出境游、留学缴费、海淘代购 金额能省一笔；进口奶粉、化妆品、汽车、燃油成本下降，物价更稳。而从更宏观的层面来说，人民币 这波走强，源于经济预期向好、外资持续流入、贸易支撑有力，市场对人民币资产信心大增。汇率稳、 资产稳，对股市、债市都是正面支撑。"嘉盛集团外汇市场专家陈恪对《华夏时报》记者表示。 利好股债汇三市 人民币在春节期间升值背后主要受美元指数走弱、美联储降息预期升温、国内经济稳步恢复以及外贸顺 差保持高位四因素推动。 从数据上看，截至今年1月末，我国外汇储备规模达到33991亿美元，环比增加412亿美元，连续六个月 稳定在3.3万亿元以上；1月银行结汇规模达到2.04万亿元，同样也创下历史新高。 "人民币为什么会在春节前后突然涨 ...

位于东丽区未来科技城南区的环晟新能源（天津）有限公司3条产线在春节期间连续生产。公司相关负 责人介绍，作为TCL中环旗下高效太阳能叠瓦组件的研发与制造企业，春节期间组织部分产线连续生 产，主要是为了确保紧急交付订单按时履约，特别是针对海外地区的订单，需保障国际客户的供应链稳 定性，维护企业海外市场信誉；同时，部分国内长期合作客户的紧急订单也需优先响应，避免因假期延 误影响后续合作。"我们3条产线春节期间不停工，保留了一半产能，既能减少设备停机重启带来的损 耗，也能保障节后员工返岗后快速衔接生产节奏，避免因工序脱节导致的效率下降，确保全年生产计划 稳步推进。"他表示，"受4月1日光伏行业海关退税政策预期影响，今年一季度企业订单量明显提升，生 产节奏稳步加快，产品合格率保持在行业较高水平，客户满意度持续稳定。" 位于空港经济区的天津海河乳品有限公司巴氏奶产线春节期间一直正常生产。大年初四，供应全国市场 的花色奶产线也全部复工，除了部分行政人员还在休假，生产部门员工全部上岗，日产500吨牛奶的生 产线全速运转，常温奶、酸奶、冰淇淋等100余种乳制品源源不断被打包运往全国各地。公司党委书 记、董事长邹旸告诉记者，产线 ...

Core Viewpoint - The recent appreciation of the Renminbi (RMB) against the US dollar is driven by factors such as a weakening dollar index, expectations of interest rate cuts by the Federal Reserve, steady recovery of the domestic economy, and sustained high trade surpluses [1] Group 1: RMB Appreciation and Market Impact - The RMB has appreciated approximately 1.3% since early February, breaking the 6.89 mark and reaching a three-year high [1] - Analysts from Huatai Securities and Galaxy Securities predict a prolonged appreciation cycle for the RMB, with the current phase marking the beginning of this trend [1][2] - The appreciation of the RMB is expected to enhance the attractiveness of RMB-denominated assets, particularly benefiting the A-share and H-share markets [2] Group 2: Equity Market Insights - The equity market is anticipated to perform well during the RMB appreciation cycle, with Hong Kong stocks being the primary beneficiaries due to higher foreign capital participation [2][4] - A-share market performance is expected to be more differentiated, with growth-oriented sectors likely to outperform [2][3] - Key sectors benefiting from RMB appreciation include real estate, advanced manufacturing, and non-bank financials, which are expected to see improved market risk preferences [2][3] Group 3: Sector-Specific Opportunities - Industries with high foreign debt exposure, such as motorcycles, automotive parts, and photovoltaic equipment, will benefit from reduced debt pressure and exchange rate gains [2][3] - Sectors with high import dependency, like electronic chemicals and steel raw materials, will see improved profit margins due to lower costs from RMB appreciation [2][3] - The technology sector, particularly in Hong Kong, is expected to experience a rebound as foreign capital flows increase [4] Group 4: Bond Market Dynamics - The bond market is experiencing mixed influences from RMB appreciation, with downward pressure on short-term yields and upward pressure on long-term yields due to increased risk appetite in the equity market [5] - Analysts predict that the 10-year government bond yield will fluctuate within a narrow range of 1.7% to 2.1% [5] Group 5: Commodity Market Trends - The commodity market is showing significant differentiation, with industrial metals like copper being highlighted as having strong upward potential [6] - Other commodities lack clear trends, and their future performance will depend on the recovery of domestic demand [6] Group 6: Strategic Asset Allocation - Analysts recommend focusing on high-probability sectors during the current weak appreciation phase of the RMB, emphasizing growth-oriented industries such as technology and communication [7][9] - Key investment themes include sectors benefiting from foreign capital inflows, cost improvements, and holding quality RMB-denominated assets like A-shares and government bonds [9]

德国工业领域2025年裁员超12万人 专家担心，由于订单疲弱和竞争压力巨大，今年德国工业领域将继续裁减岗位。安永德国审计业务部门 管理合伙人扬·布罗尔希尔克表示，德国工业正处于深度危机之中。自2023年以来，工业营业额已下滑 近5%。因此，目前的裁员规模仍属相对温和。但可以明确的是，若要防止就业人数进一步减少，经济 必须出现真正且显著复苏。 分析认为，尽管经济学家预计，在经历多年低迷之后，德国经济将在2026年恢复约1%的增长，但这种 复苏传导到企业层面仍需时间。德国经济研究所所长马塞尔·弗拉茨舍表示，如果政府不进行全面改 革，德国经济前景依然黯淡。他主张提高税收并进一步削减补贴。(完) 来源：中国新闻网 编辑：郭晋嘉 广告等商务合作，请点击这里 中新社柏林2月17日电(记者 马秀秀) 国际会计师事务所安永(EY)17日发布的一项调查显示，在经济危机 背景下，德国工业领域在2025年大规模裁减了就业岗位。截至2025年年底，工业领域约有538万人就 业，较2024年减少12.41万人，裁员规模几乎是2024年的两倍。 本文为转载内容，授权事宜请联系原著作权人 报告显示，2025年受冲击最严重的是陷入危机的汽车 ...

来源：经济观察网 造纸行业面临"供给宽松、需求弱复苏"局面，成品纸价格承压，企业盈利空间受挤压。尽管2026年上半 年行业计划净削减产能35万吨，但克利尔沃特纸业预计全年营收区间14.5亿–15.5亿美元，同比可能继续 收缩，目标产能利用率仅中高80%水平，低于行业健康线。 机构观点 2026年2月，3家机构中仅67%给予买入或增持评级，目标均价23.67美元（较当前股价存在空间），但 机构预测其2025年第四季度营收同比下滑17.89%，每股收益持续为负。市场对其短期盈利修复信心不 足。 行业政策现状 美元走弱可能抑制纸浆进口（年进口量超70万吨），加剧本土竞争；同时，海外木浆价格波动及能源成 本高企进一步压缩利润。公司推迟原定5000万美元的CUK产能转换项目，战略收缩亦影响市场预期。 经济观察网 克利尔沃特纸业（CLW.N）近期股价持续下跌主要受基本面疲软、行业环境承压及市场情 绪等多重因素影响。 股票近期走势 截至2026年2月17日，该股收盘价16.56美元，单日下跌5.86%，近5日累计跌幅6.70%，近20日跌幅达 17.57%。股价已跌破关键均线支撑，成交额萎缩至302万美元（量比0.77）， ...

Ingredion Conference Call Summary Company Overview - **Company**: Ingredion - **Industry**: Global ingredient solutions provider, primarily serving the food and beverage industry, with nearly 70% of revenues from this sector. Also serves paper making, corrugated box industries, and specialty ingredients for pharma and personal care markets [4][5] Key Financial Highlights - **Record Results**: In 2025, Ingredion reported $950 million in cash from operations, returning approximately half to shareholders [1] - **Gross Profit Margin**: Achieved record gross profit margins of over 25%, an increase of 120 basis points from the previous year [5] - **Earnings Per Share**: Record earnings per share driven by the Texture and Healthful Solutions segment, returning $435 million to shareholders through dividends and share repurchases [5] - **Cash Generation**: Averaged $1 billion in cash generation over the last three years, providing a strong balance sheet and financial flexibility [5] Strategic Vision and Growth Opportunities - **Resegmentation**: The company resegmented its business into three large global segments to enhance customer intimacy and innovation delivery [6] - **Texture and Healthful Solutions**: Positioned to capitalize on macro trends such as natural high-intensity sweeteners and protein fortification, with a focus on clean label products [9][10] - **Consumer Trends**: Increasing consumer preference for clean labels, high protein, and high fiber products, with the clean label category growing at a compounded annual growth rate (CAGR) of 6% over the last four years [10][11] Market Position and Competitive Advantages - **Global Leadership**: Ingredion is a leader in texture solutions, with a strong presence in North America, Europe, and APAC [18] - **Consumer Insights**: 85% of consumers are likely to recommend food based on texture, indicating a significant opportunity for growth in this area [19] - **Private Label Growth**: The company is well-positioned to benefit from the increasing shift towards private label products, with private label growth in EMEA at over 40% [36][37] Regional Performance - **LatAm Segment**: Generated approximately $2.5 billion in revenue with a segment operating income margin of 21%. Strong local presence with nine plants and three innovation centers [40][42] - **U.S. and Canada Segment**: Achieved $2 billion in net sales with a 16% operating income margin. The company is the only corn wet miller with assets in Canada, optimizing supply chain efficiency [41][46] Innovation and R&D - **Idea Labs**: 30 Idea Labs globally to customize solutions based on local tastes and preferences [4][18] - **Solutions Business**: Approximately $1 billion in sales, growing at 7.5%, with a focus on customer intimacy and co-creation of products [25][26] Future Outlook - **Revenue Growth**: Projected net sales growth of 1% to 3% through 2028, with mid-single digits operating income growth expected [54][55] - **Investment in CapEx**: About $200 million in capital expenditures to enhance production capabilities and support growth initiatives [38] - **Enterprise Productivity**: A multi-year program aimed at improving efficiency and effectiveness, expected to contribute over 1 point of operating income growth by 2028 [58] Risks and Challenges - **Market Volatility**: Ongoing tariff and trade risks, regulatory impacts, and economic growth uncertainties [56][57] - **Consumer Behavior Changes**: Shifts in consumer preferences and economic conditions affecting demand for certain product categories [54] Conclusion - Ingredion is strategically positioned for growth through innovation, customer intimacy, and a strong market presence in key regions. The company is focused on leveraging macro trends in health and wellness, clean labels, and private label growth to drive future performance.

Group 1 - The tea gathering in Ningbo featured over twenty foreign enterprise executives discussing investment opportunities in China, highlighting the favorable business environment in Ningbo [1] - Notable announcements included the plans of Norse company Norktik to increase its production capacity from 2,000 tons last year to a target of 5,000 tons this year, with a long-term goal of reaching 20,000 tons by 2030 [2] - The event underscored the trend of foreign companies reinvesting profits back into Ningbo, with 32 enterprises projected to reinvest $5.7 million in profits in 2025 [4] Group 2 - The executives expressed confidence in Ningbo's business environment, with one stating it ranks among the best in terms of investment opportunities [3] - The local government is focused on rapid project development, emphasizing the importance of timely execution in attracting foreign investment [4] - The gathering concluded with a cultural experience, symbolizing the strong ties and mutual benefits between foreign enterprises and the Ningbo region [3]