欢迎扫描下方二维码关注： 财政部 税务总局 关于发布《增值税预缴税款管理办法》的公告 财政部 税务总局公告2026年第14号 根据《中华人民共和国增值税法实施条例》有关规定，延续现行制度和做法，财政部、税务总局制定了《增值税预缴税款管理办法》，现予公布，自 2026年1月1日起施行。此前规定与本公告规定不一致的，以本公告为准。 特此公告。 附件： 增值税预缴税款管理办法 财政部 税务总局 2026年1月30日 附件 增值税预缴税款管理办法 第一章 总则 第一条 根据《中华人民共和国增值税法实施条例》（以下简称增值税法实施条例）有关规定，制定本办法。 第二条 纳税人（ 不包括自然人 ，下同）发生增值税法实施条例第四十五条第一款情形的，应当依照本办法规定预缴增值税。 第二章 跨地级行政区（直辖市下辖县区）提供建筑服务 第三条 纳税人 跨地级行政区（直辖市下辖县区）提供建筑服务 （以下简称跨地区提供建筑服务），应当按照规定的纳税义务发生时间， 向建筑服务 发生地主管税务机关预缴增值税。 第四条 纳税人跨地区提供建筑服务， 适用一般计税方法计税的预征率为2%，适用简易计税方法计税的预征率为3%。 第五条 纳税人跨地区 ...

APi Group (NYSE:APG) FY Conference Summary Company Overview - **Company**: APi Group - **Date of Conference**: February 18, 2026 - **Key Speakers**: Russ Becker (CEO), David Jackola (CFO) Core Industry Insights - **Industry**: Construction and Services, focusing on inspection, service, and project management - **Market Trends**: - Strong growth in inspection and service business with high single-digit growth expected - Low single-digit growth anticipated in project business, influenced by data center and advanced manufacturing sectors [2][6] - Backlog at all-time highs, indicating strong future revenue potential [10] Financial Performance - **2025 Results**: - Ended the year with an Adjusted EBITDA margin above 13% [4] - Revenue guidance for 2026 set between $8.4 billion and $8.6 billion, with Adjusted EBITDA between $1.14 billion and $1.2 billion [5] - **Margin Expectations**: - Midpoint margin guidance for 2026 is 13.8% [5] - Continued focus on maintaining and improving margins through an inspection-first model [42] Market Dynamics - **Data Center Sector**: - Revenue exposure to data centers expected to increase from 8% in 2025 to closer to 10% in 2026 [13] - Increased project sizes in data centers are creating favorable economics for APi [20] - **Labor Market**: - Tight labor market has been a long-standing issue, but APi is focusing on training and retaining talent through innovative programs [28][29] - Unionized workforce provides visibility into labor costs, aiding in cost management [34] Strategic Focus - **Project Selection**: - APi is disciplined in customer and project selection, avoiding over-reliance on any single market [7] - **M&A Strategy**: - Interest in pursuing larger acquisitions if the right opportunities arise, with a focus on cultural fit and operational integration [52][56] - Current leverage is well below 2x, indicating capacity for strategic acquisitions [54] Operational Insights - **HVAC Business**: - Positive growth and improved project selectivity noted in the HVAC segment [38] - **Elevator and Escalator Market**: - APi aims to build a billion-dollar platform in the elevator space, with ongoing M&A opportunities being explored [40][41] Conclusion - **Outlook**: - APi Group is positioned well for 2026 with strong backlog, disciplined project selection, and a focus on margin improvement. The company is actively exploring growth opportunities in data centers and is open to strategic acquisitions to enhance its market position [2][10][52]

（原标题：沙特2030年世博会总体规划将在2月底完成） 公共投资基金（PIF）预测，世博会建设将为沙特GDP贡献640亿美元，并创造约17.1万个就业岗 位。世博会投入运营后，预计还将为经济带来56亿美元的增长。 沙特阿拉伯世博会场馆占地 6 平方公里，位于首都北部。参展国家将被允许建造永久性展馆。展览 结束后，该场地将被重新开发成一个集住宅区、文化区和商业区于一体的全球村。 该文件由英国咨询公司 Buro Happold 制定，其概念设计由德国建筑事务所Lava于去年9 月完成。 2030世博会场地已开始动工。沙特阿拉伯承包公司Nesma & Partners上个月赢得了主要公用设施和 基础设施工程项目。Nesma的合同涵盖内部道路和核心公用设施的安装，包括水、污水、电力、通信和 电动汽车充电系统。 一位直接了解预算和时间表的消息人士称，一旦总体规划最终确定，该地块第二阶段工程的合同预 计将会授予，合同价值约为20亿沙特里亚尔（5.33 亿美元）。 沙特阿拉伯在2023年11月获得了2030年世博会的主办权，将于2030年10月1日至2031年3月31日举 行，预计将吸引超过4200万人次参观。 《阿拉伯海 ...

Group 1 - The company, China New Retail Supply Chain Group, announced a placement of new shares to raise approximately HKD 140 million, with net proceeds expected to be around HKD 141 million after expenses [1] - A total of 16,000,000 new shares will be issued at a price of HKD 8.88, representing a discount of about 19.4% to the last closing price of HKD 11.02 and an 18.8% discount to the average closing price over the past five trading days [1] - The new shares represent approximately 3.33% of the existing issued share capital and will account for about 3.23% of the enlarged share capital after the placement [1] Group 2 - The funds raised will be used for general working capital and debt repayment [1] - The placement is conducted under the general mandate granted by the shareholders and is expected to be completed within five business days after all conditions are met [1]

Core Viewpoint - The Ministry of Finance and the State Taxation Administration have announced the implementation of the "Value-Added Tax Prepayment Management Measures," effective from January 1, 2026, which will standardize the prepayment of VAT for taxpayers across various scenarios [2][3]. Group 1: General Provisions - The management measures are formulated based on the relevant provisions of the "Implementation Regulations of the Value-Added Tax Law of the People's Republic of China" [5]. - Taxpayers (excluding individuals) must prepay VAT in accordance with the specified circumstances outlined in the regulations [6]. Group 2: Construction Services Across Administrative Regions - Taxpayers providing construction services across administrative regions must prepay VAT to the tax authority at the location where the service occurs, with a prepayment rate of 2% for general taxation and 3% for simplified taxation [8][14]. - The formula for calculating the prepayment of VAT is provided, allowing taxpayers to deduct subcontracting payments from the total taxable amount [5][10]. Group 3: Prepayment for Real Estate Sales - Real estate developers selling projects through pre-sale must prepay VAT based on the received prepayments at a rate of 3% [18][12]. - The prepayment must be made in the month following the receipt of the prepayment [13]. Group 4: Transfer or Lease of Real Estate - Taxpayers transferring or leasing real estate not located in the same administrative area must prepay VAT to the tax authority at the location of the real estate, with different prepayment rates for general and small-scale taxpayers [21][22]. - The calculation method for VAT prepayment is specified, including deductions for the original purchase price of the real estate [21][23]. Group 5: Oil and Gas Industry - Oil and gas enterprises selling services related to the production of crude oil and natural gas across provinces must prepay VAT to the local tax authority, with a prepayment rate of 5% in Xinjiang and 3% in other regions [27][28]. - The calculation method for VAT prepayment is also outlined for these enterprises [28]. Group 6: Collection Management - Small-scale taxpayers whose total price and prepayments do not reach the VAT threshold are exempt from prepayment [30]. - Taxpayers must maintain detailed records of their prepayments and related transactions, and failure to comply with prepayment deadlines may result in penalties [29][32].

Core Viewpoint - The Ministry of Finance and the State Taxation Administration have issued the "Management Measures for Prepaid Value-Added Tax" which will take effect on January 1, 2026, continuing the existing system and practices [1][3]. Group 1: General Provisions - The measures are formulated based on the relevant provisions of the "Implementation Regulations of the Value-Added Tax Law of the People's Republic of China" [3]. - Taxpayers (excluding individuals) must prepay value-added tax in accordance with the measures when certain conditions are met [3]. Group 2: Construction Services Across Administrative Regions - Taxpayers providing construction services across administrative regions must prepay value-added tax to the tax authority where the service occurs, based on the time the tax obligation arises [4]. - The prepayment rate for general taxation method is set at 2%, while for simplified taxation method it is 3% [4]. - The formula for calculating the prepaid tax is provided, allowing for deductions of subcontracting payments [4][5]. Group 3: Prepayment for Services with Advance Payments - Taxpayers using advance payment methods for construction services must prepay value-added tax to the tax authority where the service occurs [6]. - The prepayment rates remain the same as for construction services, with a calculation formula similar to that for construction services [7][10]. Group 4: Real Estate Project Sales - Real estate developers selling projects through pre-sale methods must prepay value-added tax to the tax authority where their institution is located [8]. - The prepayment rate for these transactions is set at 3% [8]. - Taxpayers must prepay the tax in the month following the receipt of advance payments [8]. Group 5: Transfer or Lease of Real Estate - Taxpayers transferring or leasing real estate not located in the same administrative area must prepay value-added tax to the tax authority where the real estate is located [9]. - The prepayment rates vary, with general taxpayers at 5% and small-scale taxpayers at 3% for transfers [11]. - A specific formula is provided for calculating the prepaid tax based on the total taxable amount [12]. Group 6: Oil and Gas Field Enterprises - Oil and gas field enterprises selling and producing services related to crude oil and natural gas across provinces must prepay value-added tax to the tax authority where the service occurs [13]. - The prepayment rates are 5% for Xinjiang and 3% for other regions [14]. - The calculation for prepaid tax follows a similar formula as other services [14]. Group 7: Collection Management - Small-scale taxpayers whose total price and advance payments do not reach the VAT threshold are exempt from prepayment [15]. - Prepaid VAT can be deducted from the current VAT payable, with any excess carried forward to the next period [15]. - Taxpayers must maintain detailed records of prepaid tax transactions and related documents [15][16].

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Core Viewpoint - BW Industrial Holdings is seeking to raise up to $21 million through an IPO, with a proposed share price range of $7 to $9, resulting in a market valuation of approximately $176 million at the midpoint of the price range [1][2]. Group 1: Company Overview - BW Industrial Holdings is an EPC (Engineering, Procurement, and Construction) company that provides design, construction, and integration services for critical process systems in industries such as automotive parts, energy storage, renewable energy, electronics, advanced manufacturing, and semiconductor manufacturing [1]. - The company was founded in 2016 and is headquartered in Houston, Texas [2]. Group 2: Financial Information - For the 12 months ending September 30, 2025, the company is projected to achieve revenue of $56 million [2]. - BW Industrial Holdings plans to list on NASDAQ under the ticker symbol BWGC [2]. Group 3: Business Expansion and Projects - The company is currently involved in significant projects, including a large semiconductor manufacturing facility in Phoenix, Arizona, and photovoltaic manufacturing facilities in Florida and Arizona [1]. - BW Industrial Holdings is expanding into product development with the introduction of modular water treatment systems, targeting commercial and government clients across North America, Central America, and South America [1].

Core Viewpoint - Hui Long Holdings (08021) reported a decrease in revenue but a significant increase in net profit for the six months ending October 31, 2025, indicating a mixed performance driven by changes in business operations and financial asset valuations [1] Financial Performance - Revenue for the period was HKD 39.537 million, a decrease of 15.51% year-on-year [1] - Net profit reached HKD 75.967 million, reflecting a substantial increase of 149.19% compared to the same period last year [1] - Earnings per share were HKD 0.529 [1] Business Operations - The decline in revenue was primarily attributed to a reduction in scaffolding, fit-out, and other ancillary services during the reporting period [1] - The increase in net profit was mainly due to a significant rise in the fair value of financial assets recognized in profit or loss compared to the same period in 2024 [1]

Core Viewpoint - On December 30, the Hong Kong Stock Exchange welcomed six companies for collective listing, indicating a positive sentiment in the new stock market and a trend of companies rushing to go public before year-end financial disclosures [1] Group 1: Company Listings - Six companies listed on the Hong Kong Stock Exchange: skincare brand Lin Qingxuan (HK02657), construction service provider Meilian Holdings (HK02671), data infrastructure firm Xun Ce (HK03317), AI drug development company Yingsi Intelligent (HK03696), robotics company Woan Robotics (HK06600), and digital twin technology firm Wuyi Shijie (HK06651) [1] - Yingsi Intelligent opened at HKD 35, a significant increase of 45% from its issue price, making it a highlight of the day [1] Group 2: Market Sentiment and Trends - Investment manager Li Mingde from Dasheng Group noted that the recent positive sentiment in the Hong Kong new stock market, along with favorable valuations and strong financial performances from several tech companies this year, has encouraged firms to list before year-end [1]