5项省市级以上研发项目落地、超2亿元研发费用投入、139项知识产权入账、7200余万元创效金额达 成，20余家权属企业跻身国家级高新技术企业、省级专精特新企业、省瞪羚企业行列，一批省级高能级 创新平台相继落地......三年深耕科创赛道，水发高科锚定"水发集团高科技产业集群"的战略定位，在转 型浪潮里一路闯关，实现了从分散探索到聚焦主业、从技术跟跑到部分领域领跑的蝶变，成功蹚出一条 特色鲜明的高质量发展之路。 创新升级：协同生态激活发展动能 战略转向：锚定主业实现精准攻坚 三年埋头苦干，水发高科主业范围内高新技术企业实现全覆盖，10余个省市级科技创新平台创新平台构 筑起强大创新矩阵，700余项知识产权筑起坚实核心技术"护城河"。 效能跃升：科技成果奔赴市场一线 "科技成果不能只躺在实验室里，必须转化为实实在在的生产力。"这是水发高科在改革转型中始终坚守 的发展信条。 依托集团"两实施、四深化"行动部署，水发高科构建起"产业需求－技术研发－工程应用－产业推广"的 闭环生态，推动科技创新与市场需求同频共振，把实验室的创新"金种子"撒在市场的沃土上。奥美环境 凭借"钛白废水处理"核心技术，成功斩获内蒙古国城资源项目 ...

百威英博于周二强调，通过重新获得旗下工厂的完全控制权，公司将能够保障"旗下品牌产品的品质、 成本效益、创新速度及供应稳定性，同时在美国各地社区创造具有行业领先水平的制造业就业岗位，推 动地方经济增长"。 高级行业分析师Duncan Fox指出："百威英博此举很可能是为应对铝关税而巩固其在美国关键包装资产 的质量。" Bernstein分析师Trevor Stirling则认为，这笔交易更类似于一种"债务回购"操作。他补充道，这同时 也"彰显了公司对其基本现金流和去杠杆能力的信心"。 智通财经APP获悉，百威英博(BUD.US)宣布，将以约30亿美元的价格，从由阿波罗全球管理(APO.US) 牵头并提供咨询服务的机构投资者财团手中，回购其美国金属罐工厂49.9%的股权。 百威英博在一份声明中表示，上述金属罐工厂业务涵盖分布于美国6个州的7座生产设施，是公司美国供 应链体系中的关键战略组成部分。旗下拥有时代啤酒、百威啤酒等品牌的百威英博将使用自有现金完成 此次收购。 据了解，这家全球最大的啤酒酿造商曾于2020年将该部分股权以30亿美元的价格出售给阿波罗，旨在偿 还因2016年收购竞争对手南非米勒而累积的巨额债务 ...

Group 1 - The provincial finance department has focused on high-quality development during the "14th Five-Year Plan" period, achieving an average annual growth of 6% in general public budget revenue and 4.3% in expenditure, providing strong financial support for major national and provincial decisions [1] - The province has implemented a series of innovative measures to activate market dynamics, cultivate new industries, and strengthen food security, contributing to the overall revitalization of the region [1] Group 2 - In Helun City, with a financial investment of 270 million yuan, 63 construction projects are being implemented as part of the "Five Good Two Suitable" rural revitalization pilot, focusing on improving living conditions and fostering industry [2] - The provincial government has continuously increased rural revitalization subsidy funds for nine consecutive years, supporting high-standard farmland construction exceeding 12 million acres and ensuring stable grain production [2] Group 3 - The provincial finance has allocated 29.68 billion yuan to support key industries such as digital and biological economies, accelerating the construction of a modern industrial system [3] - Since the beginning of the "14th Five-Year Plan," the provincial finance has provided 373 million yuan in rewards for the development of first-of-a-kind products, supporting the emergence of 242 innovative products [3] Group 4 - The provincial finance has coordinated 339.3 billion yuan for major project implementation, including the expansion of Harbin Taiping International Airport and the construction of the Harbin-Yichun high-speed railway [4] - Special bonds amounting to 135.53 billion yuan have been invested in 953 projects, effectively stabilizing investment and expanding domestic demand [4] Group 5 - The provincial finance has maintained over 85% of its budget for people's livelihood during the "14th Five-Year Plan," enhancing social security and education funding [5] - New fiscal policies have stimulated social consumption by 24 billion yuan through investment subsidies and loan interest discounts [5] Group 6 - A provincial financing credit service platform has been established to address financing difficulties for small and micro enterprises, facilitating 3.8 million financing transactions totaling 67.796 billion yuan [6] - The provincial finance has set up a fund to stabilize small and micro enterprises, guiding over 78.62 billion yuan in guaranteed loans to benefit more than 35,000 enterprises [6]

屯昌县招商引资工作专班有关负责人介绍，当天签约的12个项目涵盖旅游康养、农产品加工、跨境电 商、生态农业等领域，深度契合海南自贸港封关运作后的产业发展需求。其中，屯昌卧龙山森林康旅度假景 区项目总投资30亿元，其中一期计划投资10.8亿元，将建设农村公路、登山栈道、游客接待中心、康养酒店 等设施，打造复合型康旅度假目的地;万橡天然橡胶加工项目计划投资2.8亿余元，将建设多条生产线及环保 设施，助力屯昌橡胶产业提质增效。此外，阳春啤酒(海南)精酿工厂二期项目、美鹤园国际竹艺生态村项目 等将进一步丰富屯昌产业业态，完善产业链条。 超16亿元 屯昌集中签约12个项目 图为招商推介暨重点项目集中签约活动现场。通讯员 唐晓云 摄 海南日报屯城12月25日电(海南日报全媒体记者 曾毓慧 特约记者 邓积钊 通讯员 唐晓云)12月25日，屯 昌县举办2025年招商推介暨重点项目集中签约活动，充分展示了屯昌优质投资环境与发展潜力，促成12个重 点项目成功签约，计划总投资达16.3亿余元，将为屯昌"一园三区两中心"产业空间布局注入强劲动能。 "卧龙山森林康旅度假景区项目从申请到材料联审，屯昌县招商专班全程'一对一'跟踪，仅用7天 ...

Core Insights - Sapporo Holdings is selling its real estate business, including the popular Tokyo landmark "Ebisu Garden Place," to a consortium formed by private equity giant KKR and Asian investment firm PAG [2][4] - The transaction is valued at 477 billion yen, approximately 3 billion USD, and aims to refocus resources on the core beer business [2][6] - The funds from the sale will be reinvested into the beer business and other core segments, including upgrading consumer channels and expanding into health-oriented beverage categories [2][6] Company Strategy - Sapporo Holdings intends to consolidate its operations and strengthen its competitive advantage in the alcoholic beverage sector [2][6] - The company plans to utilize the proceeds from the asset sale to enhance its core business and invest in new product categories [2][6] Market Reaction - Following the announcement, Sapporo Holdings' stock price increased by 3.7%, while KKR's stock experienced a slight decline in after-hours trading [7] - KKR's Japan CEO expressed enthusiasm about the partnership and the potential to leverage KKR's global resources and expertise in real estate development and management [7] Negotiation Background - Earlier reports indicated that Sapporo Holdings had granted KKR and PAG exclusive negotiation rights, but discussions ended due to disagreements over the sale price, primarily related to the high costs of necessary renovations and safety upgrades for the properties [3][8] - After the negotiations with KKR and PAG broke down, Sapporo Holdings reopened the bidding process to other potential buyers, including Lone Star Funds and KENEDIX [8]

Europe’s brewers are urging policymakers for “more stability and support” as the region’s beer market continues to decline. A report from trade body The Brewers of Europe shows production, consumption and exports all falling for a fifth consecutive year, with EU beer output down to 345m hl in 2024 from 346.18m hl a year earlier. In 2019, production was 367m hl. The association said early 2025 indicators point to further tightening but did not release figures. Exports, which had previously helped offset ...

Group 1 - The 2025 Wuhan Urban Football Super League (referred to as "Han Super") opening match took place at Wuhan Sports Center, attracting over 40,000 fans [1] - The atmosphere was vibrant, with fans arriving two hours before the match, creating a lively environment filled with cheers and drumbeats [1] - Families, including three generations of fans, attended the event, highlighting the significance of the match for local supporters [3] Group 2 - The event featured a food and lifestyle fair, with long queues at various food stalls, indicating high consumer engagement [4] - Popular food items included handmade burgers and grilled meat, with sales reaching over 100 and 200 cups of juice sold within an hour, respectively [4] - The automotive exhibition area attracted many visitors, showcasing discounted vehicles, with some models having price reductions of over 10,000 yuan [4] Group 3 - The event included interactive activities for children, enhancing the family-friendly atmosphere [5] - A million yuan worth of consumer coupons were distributed, generating excitement among attendees as they participated in the promotions [7] - Beer sales reportedly quadrupled compared to regular weekends, indicating a significant increase in demand during the event [7] Group 4 - The opening ceremony featured a musical performance, creating a festive atmosphere as players entered the field amidst a sea of flashing mobile lights [9] - The combination of food aromas, engine sounds, and fan cheers contributed to a unique celebratory experience for the city [9]

Group 1: Impact of Tariffs on Industries - The impact of President Trump's tariff policy is becoming evident, particularly affecting the industrial, manufacturing, and automotive sectors, with companies like Caterpillar, McDonald's, and Marriott reporting increased raw material costs and decreased demand [1][2] - Global companies are expected to face a profit impact of approximately $15 billion by 2025 due to trade policy, primarily affecting industrial, manufacturing, and automotive industries, while financial and technology sectors are less impacted [2] - Caterpillar reported a 0.7% decline in Q2 revenue, with a 6.5% increase in commodity costs, indicating that tariffs may pose a greater challenge to profitability in the second half of 2025 [2] Group 2: Company-Specific Financial Impacts - Ford Motor Company experienced a 5% increase in Q2 revenue to $50.2 billion, but adjusted EBIT fell to $2.1 billion from $2.8 billion year-over-year, with an estimated net tariff impact of about $2 billion for the fiscal year [2] - Molson Coors anticipates a cost increase of $20 million to $35 million in the second half of the year due to rising aluminum prices from tariffs, which doubled from 25% to 50% [3] - Marriott International lowered its 2025 forecast due to weak travel demand, while Archer Daniels Midland reported its lowest profit in five years [3] Group 3: Market Resilience and Future Outlook - Despite ongoing trade tensions and tariff increases, the market has shown resilience, with the S&P 500 and Nasdaq indices rising over 30% since April [4] - Approximately 80.3% of the 370 companies in the S&P 500 that have reported earnings exceeded analyst expectations, with an earnings growth rate of 11.9% [4] - Analysts suggest that while some industries may be affected by tariffs, a clearer picture will emerge in the coming quarters, with potential for a market pullback of 7% to 15% anticipated in September to October [4][6]

Market Overview - Hong Kong stocks opened lower but closed higher, with all three major indices ending in the green. The Hang Seng Index rose by 0.92% to 24,733.45 points, with a total turnover of HKD 234.68 billion [1] - The overall upward trend in Hong Kong stocks is considered healthy, shifting from previous risk-averse sentiment to improvements in fundamentals and positive policy expectations [1] Blue Chip Performance - New Oriental-S (02057) led blue-chip stocks, rising by 6.49% to HKD 36.58, contributing 2.7 points to the Hang Seng Index. Its revenue for the fourth fiscal quarter grew by 9.4% year-on-year, exceeding market expectations [2] - Other notable blue-chip performances included Zhongsheng Holdings (00881) up 5.59%, Lenovo Group (00992) up 4.95%, while Xinyi Glass (00868) fell by 5.87% [2] Sector Highlights - Gold stocks performed strongly due to lower-than-expected U.S. non-farm payroll data, with Shandong Gold (01787) rising by 10.7% and Chifeng Jilong Gold Mining (06693) up 8.89% [3] - Semiconductor stocks also saw significant gains, with Hua Hong Semiconductor (01347) up 8.69% and Shanghai Fudan (01385) up 5.66% [4] Stablecoin Sector - The stablecoin sector continued to decline, with Yunfeng Financial (00376) down 6.91% and Guotai Junan International (01788) down 6.48%. The Hong Kong Monetary Authority's new regulations on stablecoins are expected to delay the issuance of licenses until early 2026 [5][6] Notable Stock Movements - InnoCare Pharma (02577) surged by 30.47% after announcing a partnership with NVIDIA to promote a new power architecture for AI data centers [7] - Huajian Medical (01931) rose by 20.7% following a strategic cooperation agreement with BGI [8] - China Resources Medical (01515) fell by 15.58% due to a profit warning, expecting a decline of 20% to 25% in profit for the upcoming six months [9]

Core Insights - The rise of Trip Smith Brewery in Baiyun District represents a blend of local culture and innovative brewing practices, emphasizing a unique drinking experience that combines coffee and craft beer [1][10]. Company Overview - Trip Smith Brewery was established in 2016 in the Jinghong Industrial Park of Baiyun District, focusing on fruit-flavored craft beers using local ingredients like Guizhou bayberry and prickly pear [6]. - The brewery has increased its production capacity significantly, planning to raise the output of bayberry craft beer from 10 tons last year to 40 tons this year, with daily production capacity reaching 6 tons and canning capacity of 6,000 cans per day [6]. Industry Trends - The craft beer industry in Baiyun District is characterized by a focus on local flavors and a philosophy of "small but beautiful," aiming for a refined and unique product offering [10]. - The integration of craft beer culture into urban life is reshaping public spaces in the city, attracting both locals and tourists to experience the local flavors [16]. - Trip Smith has expanded its brand presence with eight stores in key urban areas and one in Chongqing, showcasing a successful model of "craft beer + local culture" [12].