从滩涂渔火到万家灯火，从边陲小镇到国际都市，深圳用45年时间书写了中国改革开放的"奇迹样 本"。中国人寿深刻认识深圳在国家改革开放大局中的定位和作用，以实际行动服务国家战略落地。从 精准滴灌实体经济到完善社会保障体系，从创新赋能科创高地到守护绿色生态家园，无数国寿人正 以"闯"的精神、"创"的劲头和"干"的作风，护航鹏城接续书写着新时代"春天的故事"。 保活力——"深圳的土特产是企业家" 深圳是中小微企业最活跃的城市，2024年全市平均每月新增经营主体近5万户。然而中小微企业往 往受限于规模小、信用记录不完善、抵押物不足等困境，融资难题像"紧箍咒"制约其发展，招人留人有 较大难度。 如何让这片沃土上的民营企业和小微企业吃下"定心丸"，让这座"民营经济第一城"跑得更快？中国 人寿充分发挥综合金融优势，优化产品服务供给，从风险保障、投资支持、融资服务等方面多措并举， 支持小微企业发展。 中国人寿集团旗下寿险深圳分公司运用市场大数据精准细分产业风险图谱总结提炼产业共性风险， 创新打造"团单八大保"，推出工业保、交通保、商铺保、专精特新保、科技保等系列产品，为制造业、 新能源、生物医药等特区支柱和新兴领域的企业量身定 ...

证券之星消息，根据市场公开信息及8月25日披露的机构调研信息，睿远基金近期对3家上市公司进行了 调研，相关名单如下： 2)百利天恒(睿远基金管理有限公司参与公司2025年半年报业绩说明会) 调研纪要：公司与BMS合作开发iza-bren，新开展3项II/III期海外关键注册临床试验，分别用于治疗三阴 性乳腺癌、EGFR突变非小细胞肺癌和尿路上皮癌。RC核药平台取得新突破，首款核药候选药物BL- RC001提交国内IND申请。新一代毒素药物BL-B16D1和BL-M17D1推进到了临床试验阶段。公司已有9 款DC药物处于临床试验阶段，1款DC药物处于IND受理阶段。截至6月底，公司研发费用为10.38亿元， 预计未来临床研究费用会相应增长。iza-bren治疗末线鼻咽癌III期临床达到主要研究终点，计划提交药 品上市申请。公司目标是在5年内成为一家在肿瘤治疗领域领先的入门级MNC。 3)伟明环保（603568）(睿远基金参与公司电话会议&网络会议) 调研纪要：伟明环保上半年环保项目运营实现营收17.11亿元，同比增长1亿元；装备制造业务收入21.75 亿元，同比下降3亿元；新能源材料业务暂未贡献营收。昆山和宝鸡 ...

8月22日，鼎信生态(DXST)盘中上涨6.27%，截至22:53，报1.399美元/股，成交1.41万美元，总市值 2274.03万美元。 作者：行情君 资料显示，鼎信控股股份有限公司是一家在开曼群岛注册成立的境外控股母公司,主要通过其境内实体 子公司山东鼎信生态环境有限公司运营,子公司位于山东烟台,隶属于山东鼎信科技集团,是专业从事节能 减排领域"四废"(废水、废热、废气、废渣)处理及资源化利用的科技型公司。经营范围主要包括蛋白废 水处理、河道生态治理、新农村污水处理、河道生态修复、黑臭水体整治、城市道路抑尘、蛋白废水资 源化处理、垃圾固废资源化处置、海绵城市雨水资源化利用、新农村建设之污水处理技术以及新能源技 术开发和利用、合同能源管理服务及节能环保技术服务、工程设计、承包和投资运营等业务,全方位多 领域的实践了现代社会发展所倡导的节能环保理念。 本文源自：金融界 财务数据显示，截至2025年04月30日，鼎信生态收入总额549.87万美元，同比增长147.26%；归母净利 润-47.92万美元，同比减少2923.31%。 ...

Summary of the Conference Call for Sains Industry and Company Overview - **Company**: Sains - **Industry**: Environmental protection, mining, and new materials Key Points and Arguments - **Strategic Transformation**: Sains is shifting from heavy metal pollution control to a dual focus on mining environmental protection and new materials, indicating significant future growth potential, especially in the areas of flotation reagents and rare metal recovery [2][4][31] - **International Market Growth**: Revenue from overseas customers increased by 152% year-on-year, with total overseas revenue accounting for 30% of main business revenue, reflecting the effectiveness of the company's globalization strategy [2][6] - **Agricultural Chemicals Performance**: The agricultural chemicals segment, particularly Longli Chemical, saw revenue and net profit growth of 50% and 80% respectively, contributing significantly to profit growth [2][7] - **Resource Recovery Technology**: Sains employs a new adsorption and extraction technology that offers higher recovery rates and lower costs, with installations at several smelting plants. The company aims to secure a significant market share in rare metals through exclusive agreements [2][9][10] - **High-Purity Sodium Sulfide Project**: The first phase of the 20,000-ton project is expected to generate an annual net profit of approximately 10 million yuan, with significant profit contributions anticipated upon expansion to 40,000 tons [2][25] - **Flotation Reagents Expansion**: Longli Chemical plans to expand production to 12,000 tons, aiming to become the largest production base globally, with expected net profits exceeding 100 million yuan at full capacity [2][23] Financial Performance - **2025 Half-Year Results**: Sains reported a revenue of 423 million yuan, a 19% increase year-on-year, but a 57% decline in net profit due to the absence of previous investment gains from acquisitions [4][3] - **Overall Revenue Projection**: The company expects total revenue to reach 1.2 billion yuan for the year, with a net profit growth of over 20%, driven by higher margins from reagents and operational services [3][8] Market and Business Segment Insights - **Business Segment Performance**: The overall gross margin decreased by 2 percentage points, with the comprehensive solutions segment revenue dropping by 50% due to fewer large projects. Product sales and operational services, however, showed strong growth [5][6] - **Contractual Revenue Recognition**: There is 126 million yuan in contract performance costs in inventory yet to be recognized as revenue, with expectations for the comprehensive solutions business to maintain around 400 million yuan in revenue for the year [8] Future Plans and Developments - **Expansion Plans**: Sains plans to expand production capacity based on market demand, with a target completion date for additional capacity set between late 2026 and mid-2027 [16][22] - **Acquisition and Market Expansion**: The company is pursuing acquisitions in Europe to enhance its market presence, with a focus on expanding its reagent production capabilities [22][24] - **Technological Advancements**: Sains is committed to continuous R&D investment, particularly in the extraction of lysine and high-purity sodium sulfide, aiming for higher product purity and profitability [17][31] Additional Important Insights - **Currency Risk Management**: The finance department has established a team to manage currency structure and exchange rate fluctuations, with foreign currency income expected to exceed 50% of total revenue in the future [29] - **Employee Incentives**: A stock incentive plan has been approved and is set to be implemented, aimed at aligning employee interests with company growth [30] - **Long-term Growth Strategy**: Sains is focused on stable growth and technological innovation, with a strategic shift towards materials and chemicals expected to be completed by 2026 [31][28]

Core Insights - The Kuwait Environmental Remediation Program's oil lake crude oil recovery project, involving China's Jereh Group, has successfully completed the operation test of its first set of equipment, marking the official implementation phase of the project [1] - The project aims to address the oil pollution and war-related issues caused by the Gulf War, with Jereh Group providing the overall solution and core equipment, amounting to approximately 100 million RMB [1] - Jereh Group's involvement demonstrates the strength of Chinese manufacturing and service capabilities in the oil and gas industry and environmental protection [1] Company and Industry Summary - Jereh Group's Middle East President highlighted the company's active participation in Kuwait's oil and gas industry and environmental initiatives, showcasing the comprehensive strength of Chinese manufacturing and services [1] - The Chinese Embassy in Kuwait emphasized that Jereh Group's successful implementation contributes to environmental remediation in Kuwait and reflects the international competitiveness of Chinese environmental equipment and engineering technology [1] - The Gulf War in the 1990s resulted in severe environmental damage in Kuwait, with hundreds of oil wells ignited, leading to significant oil spills and pollution issues [1]

Core Points - Lingzhi Equipment Co., Ltd. was fined 64,000 yuan for illegally subcontracting parts of a sewage treatment project in Shuyang County [1] Group 1: Company Overview - Lingzhi Equipment Co., Ltd. specializes in environmental engineering, water supply and drainage engineering, and electromechanical engineering contracting [3] - The company was established on May 22, 1998, and is currently operational [7] - The registered capital of the company is approximately 1.17 billion yuan [7] Group 2: Regulatory Issues - The company was penalized by the Shuyang County Housing and Urban-Rural Development Bureau for transferring the construction of supporting pipeline projects to other units without authorization [1] - The penalty was based on violations of the "Management Measures for the Identification and Handling of Illegal Acts in Construction Project Contracting" [1]

（文章来源：每日经济新闻） 远达环保8月18日晚间发布业绩预告，公司预计2025年半年度实现归属于母公司所有者的净利润为1531 万元左右，与上年同期相比，将减少3679万元，同比下降70%左右。业绩变动主要原因是，公司控股子 公司国家电投集团远达环保工程有限公司近日获悉其大冶项目工程合同的工程总包单位江苏鲲鹏环保工 程技术有限公司已于2025年7月24日被江苏省宜兴市人民法院裁定受理破产清算。鉴于此，远达工程对 鲲鹏环保的应收款项存在重大回收风险。根据《企业会计准则》，基于谨慎性原则，远达工程拟对鲲鹏 环保应收款项进行单项认定并全额计提减值准备。进行单项认定后，本报告期需补提减值准备3295万元 左右，影响公司2025年半年度归属于上市公司股东的净利润2739万元左右。该减值事项将导致2025年半 年度盈利出现大幅下降。 ...

Core Viewpoint - The concept of "Green Water and Green Mountains are Gold and Silver Mountains" has become a common consensus and action across society, with Shanghai leading in ecological civilization construction and green low-carbon development initiatives [1][7]. Group 1: Green Development Initiatives - Shanghai is committed to an ecological priority and green low-carbon high-quality development path, focusing on carbon reduction, pollution reduction, green expansion, and economic growth [1]. - The Shanghai Municipal Development and Reform Commission, along with other departments, has released a list of 42 advanced green technologies and 9 demonstration projects to accelerate the transformation and application of green technology innovations [3]. - The implementation of the "Shanghai Green Building Regulations" integrates green development concepts into the entire lifecycle management of building planning, construction, operation, and renovation [4]. Group 2: Technological and Industrial Advancements - Shanghai Electric has pioneered the CCUS technology demonstration in the industry, capturing over 140,000 tons of CO2 [1]. - The city has achieved a photovoltaic installed capacity of 5.46 million kilowatts by June 2025, promoting energy green low-carbon transformation [4]. - The city has promoted over 1.8 million new energy vehicles, leading globally in the scale of promotion, and has built 1.05 million charging piles and 254 battery swap stations [4]. Group 3: Waste Management and Urban Greenery - The resource utilization rate of household waste has reached 86%, with a stable classification compliance rate of over 95% [5]. - Shanghai plans to add 141 urban and rural parks and 1,020 hectares of new green space by 2024, aiming to create a "Thousand Gardens City" by the end of the 14th Five-Year Plan [5]. Group 4: Economic Impact and Corporate Engagement - The Expo area has attracted significant corporate investment, with total revenue from enterprises in the area expected to reach 1,089.6 billion yuan by September 2024 [8]. - The integration of technology, culture, and ecology in the Expo area has led to a unified display of ecological effects, economic benefits, and social outcomes [8].

Core Viewpoint - The stock price of Weili has decreased by 3.31% to 3.80 yuan as of August 14, 2025, indicating a downward trend in the market [1] Group 1: Company Overview - Weili's main business includes environmental engineering, waste treatment, and resource utilization, focusing on providing comprehensive environmental governance solutions [1] - The company has invested in a new urban energy technology company in Shenzhen through its stake in Hunan Provincial Architectural Design Institute Group Co., Ltd., which will engage in energy storage technology services and emerging energy research and development [1] Group 2: Market Performance - On August 14, 2025, Weili's stock opened at 3.93 yuan, reached a high of 3.94 yuan, and a low of 3.79 yuan, with a trading range of 3.82% [1] - The net outflow of main funds for Weili on August 14 was 2.05 million yuan, with a cumulative net outflow of 40.64 million yuan over the past five days [1]

Macro Insights - The US July CPI shows a moderate increase, with core CPI rising 0.3% month-on-month, aligning with market expectations, alleviating concerns about significant inflation rebound [2] - The core CPI year-on-year increased by 0.2 percentage points to 3.1%, slightly above the expected 3.0% [2] - The market anticipates a 96% probability of a Federal Reserve rate cut in September, influenced by the manageable inflation pressures from tariffs [2] Fixed Income Insights - AI is becoming a central theme in the market, impacting investment, employment, and asset prices, leading to a structural divergence in stock performance [3] - The report suggests that AI could enhance labor productivity, potentially leading to a scenario where stock market performance outpaces GDP and employment growth [3] - Long-term, AI may alleviate debt pressures but could also exacerbate income and opportunity disparities [3] Energy Sector Insights - National electricity generation in July is estimated to increase by 3.2% year-on-year to 924.9 billion kWh, with coal, hydro, and renewable energy sources contributing differently [4] - The report anticipates a positive growth momentum for thermal power generation despite some pressure from hydroelectric output recovery [4] Banking Sector Insights - The introduction of a personal consumption loan interest subsidy policy aims to stimulate domestic demand, with a 1% annual subsidy rate [5] - Major banks are responding positively to the subsidy policy, indicating a favorable outlook for structural opportunities in the banking sector [5] Company-Specific Insights - Wanchen Group (300972 CH) is accelerating the acquisition of minority shareholder equity, with stable earnings in April and May, leading to an upgraded target price of 212.66 CNY and a "Buy" rating [7] - Guizhou Moutai (600519 CH) reported a 9.2% year-on-year increase in total revenue for H1 2025, indicating a solid foundation for achieving its annual growth target [11] - Pengding Holdings (002938 CH) is focusing on AI-related capacity investments, with a revenue increase of 24.75% year-on-year in H1 2025, leading to an upgraded target price of 69.2 CNY [12] - Desay SV (002920 CH) benefited from the smart driving trend, achieving a 25.25% year-on-year revenue growth in H1 2025, with a positive outlook for future growth [17] - City Development Environment (000885 CH) reported a revenue increase of 11.25% year-on-year in H1 2025, indicating stable growth in waste treatment operations [21]