二是着力抓好省级引导激励。加强省级财政资金统筹和政策创新，通过设备购置补贴、技改专项贷、创 新产品市场推广保险补偿等方式，支持企业设备更新和技术改造。今年，247个项目获得省级工业领域 设备更新和技术改造奖补资金2亿多元，带动项目总投资近700亿元；51个项目获得"技改专项贷"贴息资 金超1亿元，拉动项目贷款近200亿元。 三是着力抓好税收政策落实。指导企业用好用足先进制造业企业增值税加计抵减、固定资产加速折旧及 一次性扣除、节能节水等专用设备购置及数字化智能化改造投资额抵免企业所得税等税收优惠政策，减 轻企业设备更新资金压力，持续增强市场主体活力。 四是着力抓好废旧设备回收。按照政府主导、企业运作、社会参与、整体推进的原则，累计培育认定25 家"山东省再生资源产业园"、13家"山东省再生资源回收分拣中心"，对旧设备等再生资源进行批量化的 大规模分选和加工，形成了覆盖城乡、互联互通、运转顺畅的现代回收利用网络。目前，全省回收站点 和中转站近1.5万个、回收废旧物资近1.4亿吨。 11月21日上午，省政府新闻办举行新闻发布会，邀请省政协负责同志等介绍山东省政协十三届三次会议 重点提案督办工作情况。 凤凰网山东在 ...

"我国制造业增加值占全球比重已接近30%，总体规模连续15年保持全球第一。"官方近期向外界展示了"十四五"时期我国工业发展的"成绩单"。 中国制造的优势不仅体现在规模上，更在于其体系完整性。在全世界504种主要工业产品中，我国大多数产品的产量位居世界第一。 从螺丝钉到高铁列车，从电池片到航天器，中国拥有联合国产业分类中所列的全部工业门类，这种广泛的覆盖能力为全球经济提供了不可或缺的基础支 撑。 570多家工业企业入围全球研发投入2500强 规模扩张的背后，中国制造业正在经历一场静悄悄的质变。 这个数字意味着什么？如果把全球制造业总产值比作一个完整的圆，中国几乎占据了其中三分之一的份额。每生产十件全球工业产品，就有三件来自中国 的工厂和车间。 制造业"家底"：规模与体系双优势 中国制造业的"家底"有多厚？2024年，我国制造业增加值达到33.6万亿元，占国内生产总值比重约为24.9%。 与"十三五"末的2020年相比，制造业增加值从26.6万亿元增长到33.6万亿元，整个"十四五"期间制造业增加值增量预计达到8万亿元。 中国制造对全球制造业增长的贡献率超过30%，成为全球工业增长名符其实的引擎。 五年来，我国建 ...

CBI首席经济学家本·琼斯表示："本月调查最引人注目的是，企业普遍将放缓归因于预算公布前的各种 不确定性，客户纷纷推迟采购和投资。"财政大臣里夫斯预计将在11月26日公布她的第二份年度预算 案，并将进一步大幅提高税收；在2024年10月的首份预算案中，里夫斯曾大幅提高雇主税负。 （文章来源：新华财经） 新华财经北京11月20日电由于下周年度预算公布前的不确定性，英国制造商在截至11月底的三个月内报 告产出出现自2020年8月以来的最大跌幅，并预计未来数月也不会好转。 英国工业联合会（CBI）表示，11月的三个月工业产出差值从10月的-16降至-30；未来三个月的产出预 期也从-19下滑至-30。工业订单差值本月略微从-38回升至-37。 ...

Wall Street analysts expect Woodward (WWD) to post quarterly earnings of $1.83 per share in its upcoming report, which indicates a year-over-year increase of 29.8%. Revenues are expected to be $935.8 million, up 9.5% from the year-ago quarter.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.Ahead of a company's earnings disclosure, it i ...

据悉，西门子医疗业务历史可追溯至19世纪末，2018年独立上市时西门子持股85%。此后西门子集团持续减持，2025年2月曾以14.5亿欧元出售2%股权。 西门子医疗业务覆盖医学影像、体外诊断、肿瘤放疗等领域，2020年以139亿欧元收购美国放疗巨头瓦里安后，行业地位进一步巩固，当前市值维持在约 520亿欧元。 该拆分计划需经双方股东、欧盟及美国监管机构批准，预计2026年第二季度完成。西门子医疗CEO伯恩德·蒙塔格对此表示认可，称将延续全面独立的发 展进程。 同日，西门子宣布首席财务官拉尔夫·托马斯将于2026财年卸任，其职位由西门子金融服务CEO维罗妮卡·比恩特接任。托马斯卸任后将继续担任西门子医 疗监事会成员，以保持业务衔接。 近日，德国工业巨头西门子集团正式宣布重大股权调整计划，将以"直接分拆"方式向自身股东划转所持西门子医疗约30%的股份，涉及股权价值达335亿 欧元。 根据公告，拆分前西门子持有西门子医疗67%的股份，此次股权划转后持股比例将降至37%以下。西门子CEO罗兰德·布希进一步透露，集团计划中期内将 持股比例降至20%以下，不排除在本次方案获批前启动后续减持。 ...

Core Insights - The JinCai Pro, developed by JD Supply Chain Financial Technology, has been recognized as an excellent case of financial innovation at the 20th China Economic Forum, addressing the financial challenges in supply chain management for industrial enterprises [1] Group 1: Product Features and Benefits - JinCai Pro integrates JD's supply chain and financial resources to provide a comprehensive solution for procurement, performance, credit, payment terms, and fund management, enhancing efficiency for industrial enterprises [1] - The product features a "second-level credit approval" system, allowing for rapid credit assessments, with some scenarios requiring only 1 second for approval [1] - JinCai Pro offers flexible services such as "purchase first, pay later," significantly alleviating inventory pressure for enterprises, with credit limits increasing by nearly 80% during the 2025 November 11 shopping event [1] Group 2: Impact on Enterprises - The case of Shandong Jingbo Holdings Group illustrates that JinCai Pro has extended procurement payment terms, improved cash flow stability, and ensured a more orderly supply of key raw materials [2] - Jingbo stated that JinCai Pro has reduced cash flow pressure, allowing the company to allocate more resources to production and R&D [2] - The product is positioned as a stabilizer and efficiency enhancer for the super supply chain, addressing the need for transparent and sustainable financial capabilities in the context of industrial upgrades [2] Group 3: Financial Support and Scale - JD Supply Chain Financial Technology provides over 500 billion yuan in financing support annually to enterprises across the supply chain [3] - During the 2025 November 11 period, the company served nearly 500,000 enterprise clients with efficient financial services [3] - The integration of technology and deep scenario fusion continues to inject "financial vitality" into enterprises within the super supply chain [3]

中新网昆明11月17日电 (时文枝)记者17日从云南省"高质量完成'十四五'规划"系列新闻发布会·玉溪专场 获悉，依托中老铁路的黄金通道效应，玉溪市已成功实现从"滇中腹地"向"开放前沿"的转变。自2021年 12月中老铁路开通运营至今年10月，玉溪市跨境运输覆盖19个国家和地区，并与65个国家和地区建立贸 易往来。 玉溪市位于云南省中部，素有生命起源地、聂耳故乡、云烟之乡、花灯之乡、高原水乡"一地四乡"的美 誉，是云南省知名侨乡。北起昆明、南至万象的中老铁路在玉溪市境内设有玉溪、研和、峨山、化念、 元江5个站点，为其对外开放提供了关键支撑。 杨政昆表示，下一步，玉溪市将聚焦重要物流枢纽节点建设，积极培育主体、拓展贸易、促进合作，提 高贸易"软联通"能力，促进开放型经济高质量发展。(完) （文章来源：中国新闻网） 立足资源禀赋与产业基础，玉溪市沿中老铁路加速布局外向型产业集群。今年1至9月，全市外贸进出口 38.23亿元，其中与老挝进出口额达13.86亿元，老挝跃升为玉溪市最大贸易伙伴。全市跨境电商9710模 式(跨境电子商务企业对企业直接出口)出口额占全省29%，位居前列。目前，全市累计备案境外企业56 户， ...

Financial Data and Key Metrics Changes - The company reported organic sales growth of 2.8% and adjusted earnings per share growth of 8% for Q1 2026 [3][5] - Total sales growth was 7.5%, driven by organic sales growth, acquisitions contributing 3.2%, and foreign currency translation adding 1.5% [6][10] - Gross profit margin improved to 51.5% from 50.3% in the same quarter last year [7][10] - Operating cash flow increased by 42.5% to $33.4 million compared to $23.4 million in Q1 last year [10][11] - Free cash flow rose by 38.8% to $22.4 million from $16.1 million in the previous year [11] Business Line Data and Key Metrics Changes - The Americas and Asia region saw sales of $268.9 million, up 9.6% year-over-year, with organic sales growth of 4.7% [15] - The Europe and Australia region reported sales of $136.4 million, with organic sales declining by 0.8% but total growth of 3.5% due to foreign currency translation [18] - Significant growth of nearly 19% was noted in the wire identification product line, which has been a leader in organic sales growth [15][16] Market Data and Key Metrics Changes - The Asia business experienced total organic sales growth of 11.9%, particularly strong in Japan [15] - The company faced a tariff headwind in the U.S., projecting a net incremental expense of approximately $8 million for fiscal 2026 [17] Company Strategy and Development Direction - The company is focused on integrating its lasers, readers, and printers into a single platform, exemplified by the launch of the BradyScan app [4][5] - Increased investment in R&D is aimed at driving organic sales growth and enhancing product offerings [9][12] - The company is committed to identifying acquisitions with clear synergies and maintaining a disciplined approach to capital allocation [12][14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the business's ability to grow sales and increase profitability despite challenging macroeconomic conditions [43][44] - The company expects organic sales growth in the low single-digit percentages for the full year ending July 31, 2026 [14] - Management noted that while the macro environment remains tough, they are adapting quickly and creatively to mitigate impacts [44] Other Important Information - The company announced its 40th consecutive year of annual dividend increases, reflecting a strong commitment to returning value to shareholders [11][12] - The company repurchased 55,000 shares for $4.1 million in Q1, indicating a proactive approach to capital management [12] Q&A Session Summary Question: Insights on gross margin strength - Management indicated that the strength in gross margin was due to effective pricing strategies and supply chain adjustments [21][22] Question: R&D investment sustainability - Management confirmed that the current R&D spending is primarily due to acquisitions and is expected to stabilize around 5.5% in the coming quarters [23] Question: Impact of cost-out actions - Management stated that approximately 80% of the benefits from cost-out actions have been realized, with some additional improvements expected [24] Question: Cash conversion expectations - Management expressed confidence in achieving closer to 100% cash conversion this year, following improvements in Q1 [25][26] Question: Inventory levels - Management noted that inventory increases are due to acquisitions and strategic decisions to stock high-demand products, with expectations for stabilization [27][28] Question: Confidence in Europe and Australia segment growth - Management based future growth expectations on economic forecasts, noting that while conditions are challenging, they have not worsened [32] Question: BradyScan app target audience - Management clarified that the BradyScan app targets industrial users primarily, with a consumer version available as a free option [33][34] Question: Revenue synergies from acquisitions - Management highlighted ongoing efforts to identify revenue synergies from recent acquisitions, particularly in challenging market conditions [35][36] Question: Future gross margin expectations - Management reiterated that gross margins are influenced by the mix of engineered products, with no specific targets set for future margins [37][38]

Macroeconomic Overview - October fundamentals continued to weaken, with real growth indicators showing significant decline, while price indicators remained supported by base effects and rebounds[2] - New home sales and investment in real estate further weakened, with infrastructure and manufacturing investment growth rates declining more sharply[2] - Social financing in October was 815 billion CNY, significantly below the expected 1,528.4 billion CNY and the previous value of 3,529.6 billion CNY[9] - New credit in October was 220 billion CNY, compared to an expected 460 billion CNY and a previous value of 1,290 billion CNY[9] Economic Data Analysis - Industrial value added in October grew by 4.9%, below the expected 5.5% and previous 6.5%[15] - Retail sales in October increased by 2.9%, slightly above the expected 2.7% but below the previous 3%[15] - Fixed asset investment showed a cumulative year-on-year decline of 1.7%, worse than the expected decline of 0.7%[15] - Real estate development investment fell by 14.7% year-on-year, slightly worse than the expected decline of 14.5%[15] Market Reactions - The stock market experienced a volume decline, with the Shanghai Composite Index down by 0.18% and the Shenzhen Component Index down by 1.40%[8] - Bond yields generally decreased, with the 10-year government bond yield falling by 0.1 basis points[8] - The U.S. stock market initially rose but later fell, with the Dow Jones up by 0.34% and the S&P 500 up by 0.08% before declining[8] - The U.S. dollar index fell by 0.26%, while the offshore RMB appreciated by 251 basis points against the dollar[8]

本文字数：1580，阅读时长大约3分钟 作者 | 第一财经 钱童心 近年来，随着中国制造业整体实力的提升与全球产业链格局的变化，跨国制造业企业在中国市场的发 展策略也呈现出新的动向。 最近，第一财经记者通过采访多家法国工业制造企业了解到，中国制造业能级的提升带动了高附加值 的出口，中国整体装备出口正在兴起；此外，中国本土市场中建筑、汽车、新能源等领域出现的结构 性变化，也为跨国公司带来新的机遇。 从"单机采购"到"整厂输出" 全球建筑行业巨头法国圣戈班发展至今已有360年历史，该公司因法国波旁王朝国王路易十四建造凡 尔赛宫的想法而诞生。与漫长的公司历史相比，圣戈班在中国40年的发展历程还只是个开始。 2025.11. 16 聚焦高增长新兴产业 此外，中国聚焦高增长新兴产业也为集团带来了机遇：例如圣戈班的高性能材料与解决方案正广泛应 用于机器人、半导体、能源存储等新兴行业。"这些产品虽是小部件，但技术门槛高，市场需求增长 迅猛。"韦博立表示，"我们在人形机器人等未来市场，已与中国主要参与者合作，圣戈班看好这一 领域未来的大规模市场机遇。" 在创新材料领域，法国拥有众多"隐形冠军"企业，例如特种化学品供应商阿科玛 ...