转自：北京青年报客户端 2月1日起，软件过程能力成熟度模型、5G移动通信安全、能源计量器具配备和管理、科技成果转化为标准、学生 体质健康测试器材、中小学生午休课桌椅、适老家具设计、商品条码符号放置、消费者服务、电梯安全、地震救 援队伍能力等一批重要国家标准开始实施。 软件过程能力成熟度模型将有国家标准 《中小学体育器材和场地 第12部分:学生体质健康测试器材》（GB/T 19851.12—2025）推荐性国家标准界定了学 生体质健康测试器材的术语和定义、分类，规定了测试器材的要求、试验方法、检验规则以及标志、包装、运 输、贮存。标准的实施将有助于确保学校体育器材的质量和安全，增强学生体质。 保证中小学生午休课座椅质量 《中小学生午休课桌椅通用技术要求》（GB/T 46016—2025）推荐性国家标准规定了中小学生午休课桌椅的技术 要求、试验方法、检验规则、标志、包装、运输和贮存。标准的实施将有助于保证中小学生午休课座椅的质量， 有效解决非寄宿制学校学生午休需求，保护学生的身心健康。 《软件过程能力成熟度模型》（GB/T 45989—2025）推荐性国家标准规定了软件过程能力成熟度框架、战略与治 理、开发与交付 ...

记者今天了解到，2月1日起，软件过程能力成熟度模型、5G移动通信安全、能源计量器具配备和管 理、科技成果转化为标准、学生体质健康测试器材、中小学生午休课桌椅、适老家具设计、商品条码符 号放置、消费者服务、电梯安全、地震救援队伍能力等一批重要国家标准开始实施，将为引领和规范新 兴产业及未来产业的发展、推动成果与标准的转化应用、保护消费者权益、保障人民群众生命财产安全 提供标准支撑。 软件过程能力成熟度模型国家标准 《软件过程能力成熟度模型》（GB/T 45989—2025）推荐性国家标准规定了软件过程能力成熟度框 架、战略与治理、开发与交付、管理与支持和组织保障四组能力域在成熟度五个等级中的能力要求。该 标准的实施有利于软件企业改进软件过程、提升管理水平，实现软件行业整体能力水平的提升，促进我 国软件业的持续健康发展。 5G移动通信网通信安全国家标准 《5G移动通信网通信安全技术要求》（GB/T 46462—2025）推荐性国家标准确立了5G移动通信网通信 安全架构，规定了5G移动通信网的接入安全、网络安全、用户隐私防护、安全服务等通信安全技术要 求及安全功能，并描述了相关安全流程等。标准的实施有助于提升通信网 ...

Employment and Labor Market - In 2025, the new urban employment reached 12.67 million, with an average urban survey unemployment rate of 5.2%, indicating overall stability in the employment situation [1] - The Ministry of Human Resources and Social Security plans to implement new employment policies for youth, including college graduates, and enhance recruitment activities [1] - Measures will be taken to support migrant workers and improve employment assistance for vulnerable groups, including veterans [1] Energy Sector - In 2025, 7,084 out of 7,480 key energy-consuming units passed energy measurement reviews, achieving a compliance rate of 94.71% [1] - The energy measurement reviews aim for full coverage of key energy-consuming units during the 14th Five-Year Plan period [1] Financial Sector - The Loan Prime Rate (LPR) for one year is set at 3.0% and for five years or more at 3.5%, remaining unchanged for eight consecutive months [2] - The People's Bank of China indicates there is still room for further reductions in reserve requirements and interest rates [2] Consumer Finance - The implementation period for the personal consumption loan interest subsidy policy has been extended to the end of 2026, with a 1% annual subsidy rate for eligible consumption [4] - The policy now includes credit card installment payments as part of the support scope [4] Tourism Sector - The 2026 version of the team tourism contract template will be implemented nationwide starting March 31, 2026, focusing on enhancing service quality and consumer protection [5] Investment and Economic Development - A special guarantee plan for private investment totaling 500 billion yuan will be implemented over two years to support small and micro enterprises [6] - The plan aims to provide loan guarantees for various business activities, including equipment purchases and digital transformation [6] Pharmaceutical Sector - In 2025, the National Medical Products Administration approved 76 innovative drugs, with 30 of them successfully entering the national medical insurance directory, achieving a coverage rate of 70% for new drugs approved in the first half of the year [6] Fiscal Policy - In 2025, the issuance of ultra-long special government bonds reached 1.3 trillion yuan to support consumption and economic transformation [7] - The funds are allocated for consumer subsidies and to stimulate sales in related sectors, enhancing the quality of life for citizens [7] Regulatory Framework - The National Supervisory Commission will implement the "Regulations on the Disclosure of Supervisory Work Information" starting March 1, 2026, to enhance transparency in supervisory activities [8] Economic Strategy - The National Development and Reform Commission is developing plans to stabilize employment and increase residents' income, which are crucial for boosting domestic demand [8]

Core Viewpoint - The State Administration for Market Regulation has reported that the number of national metrology technical standards will increase to 2,273 by 2025, representing a growth of 63.8% compared to 2024 [1] Group 1: Supporting Public Welfare - The release of national metrology technical standards for electronic weighing scales, optical lens boxes, digital electric energy meters, and weighing scales aims to ensure fair transactions and enhance public satisfaction [1] Group 2: Supporting Manufacturing Strength - New national metrology technical standards for satellite navigation interference simulation sources, metrology instrument software identification, and Bluetooth testing instruments are designed to support the development of high-end manufacturing [1] Group 3: Promoting Green Development - The introduction of national metrology technical standards for energy resource measurement reviews in key public institutions, zero-carbon building measurement evaluations, and vehicle emission gas testing instruments will facilitate the achievement of carbon neutrality goals [1]

Group 1: Characteristics of Small and Medium-sized Stocks - Small and medium-sized stocks in the Hong Kong market are defined as those with a market capitalization below HKD 30 billion[11] - Companies with a market capitalization below HKD 10 billion account for approximately 77.5% of the total number of companies, but only 3.5% of the total market capitalization[13] - The average daily trading volume for small and medium-sized stocks is only 20%, with 80% of trading concentrated in 200 blue-chip stocks[16] Group 2: Valuation Discounts and Investment Opportunities - Small-cap stocks are currently trading at a significant discount, with a PE ratio of approximately 9.2x and a PB ratio of 0.8x, compared to the Hang Seng Index's 14.8x PE and 1.1x PB[17] - The lack of institutional investor interest and poor liquidity contribute to the low valuation levels of small-cap stocks[17] - High-quality small-cap stocks are identified as having a "low valuation + stable fundamentals + high growth" characteristic, indicating potential investment opportunities[17] Group 3: Market Dynamics and Investor Behavior - Institutional investors dominate the Hong Kong market, with a trading share of 56.5%, while individual investors account for only 15.5%[27] - Foreign institutional investors hold nearly two-thirds of the market capitalization, leading to a preference for high-liquidity large-cap stocks[27] - The lack of research coverage for small-cap stocks results in insufficient market analysis and investor information, further exacerbating their undervaluation[32] Group 4: Performance and Growth Potential - Small-cap stocks have shown significant price elasticity and potential for high returns, with several stocks increasing over 500% since 2024[36] - The growth potential of small-cap companies is enhanced by their ability to quickly adapt to market changes and focus on niche markets[37] - Historical data indicates that small-cap stocks have outperformed large-cap stocks during bull markets, particularly in periods of increased investor risk appetite[41]

Core Points - Beijing's market supervision authority has released six local standards aimed at promoting the city as a benchmark for international green economy, focusing on carbon emissions, energy consumption limits, resource recycling, and energy measurement systems [1] Group 1: Carbon Emissions - The new guideline for carbon emissions in industrial parks outlines technical requirements for carbon emission evaluation indicators, accounting, analysis, and pollution reduction measures, integrating low-carbon concepts into planning stages [1] - The standard aims to upgrade environmental impact assessments to include climate change responses, enhancing resource allocation and carbon efficiency in industrial parks [1] Group 2: Energy Consumption Limits - Revised standards for energy consumption limits in the production of liquor and synthetic detergents provide specific energy consumption thresholds based on production processes, encouraging the adoption of advanced energy-saving technologies [2] - These standards are designed to optimize energy management levels in production enterprises and provide a scientific basis for government energy-saving monitoring [2] Group 3: Resource Recycling - A new technical specification for the use of sludge products in mine soil reconstruction sets requirements for utilization, environmental monitoring, and documentation, supporting the large-scale application of sludge in mine restoration [2] - The revision of the sewage source heat pump system design specification enhances the design level and operational reliability of sewage source heat pump systems, promoting broader application of this technology [2] Group 4: Energy Measurement - A guideline for energy measurement in enterprise energy systems focuses on the hierarchical measurement of energy use, including renewable energy systems, and specifies measurement methods for various renewable energy technologies [3] - The standard outlines two main applications for renewable energy measurement data: energy audits and carbon footprint accounting, aiding enterprises in optimizing energy structure and carbon reduction strategies [3]

Core Points - Beijing has released six local standards aimed at promoting green and low-carbon development, focusing on carbon emissions, energy consumption limits, resource recycling, and energy measurement systems [1][2][3] Group 1: Carbon Emission Standards - The standard titled "Technical Guidelines for Environmental Impact Assessment of Industrial Park Planning - Carbon Emissions" establishes technical requirements for carbon emission evaluation, accounting, and pollution reduction measures, targeting industrial parks and key industries [1] - This standard aims to upgrade environmental impact assessments to include climate change considerations, facilitating the integration of low-carbon concepts in the planning phase of industrial parks [1] Group 2: Energy Consumption Limits - The revised standards for "Energy Consumption Limits for White Spirit Products" and "Energy Consumption Limits for Synthetic Detergents" provide specific energy consumption limits based on production processes, encouraging the adoption of advanced energy-saving technologies [2] - These standards are designed to optimize energy consumption management in the production of white spirit and synthetic detergents, ultimately reducing production costs [2] Group 3: Resource Recycling - The "Technical Specifications for the Reconstruction and Utilization of Sludge Products in Mining Soil" outlines requirements for the use of sludge products in mining restoration, including environmental monitoring and record-keeping [2] - With an annual sludge production of approximately 2.19 million tons in Beijing, this standard aims to promote large-scale application of sludge in mine restoration, contributing to carbon neutrality goals [2] Group 4: Energy Measurement - The "Technical Guidelines for Energy Measurement Systems Coupling Renewable Energy for Enterprises" focuses on energy measurement levels and methods for various renewable energy systems, including solar, wind, and biomass [3] - The guidelines specify two main applications for renewable energy measurement data: energy audits for optimizing energy structure and carbon footprint accounting for improving carbon reduction strategies [3] - The implementation of this standard is expected to enhance energy measurement management and efficiency, supporting sustainable development in Beijing [3]

Group 1 - The seventh China-Arab States Expo was held in Yinchuan, focusing on cooperation in traditional fields like trade, energy, and technology, while also expanding into emerging areas such as digital economy and artificial intelligence [1][2] - The event attracted over 17,800 participants, including representatives from 75 countries and regions, showcasing its significant influence and appeal [1][3] - The UAE was the guest country, with its representatives expressing a desire to deepen cooperation with Ningxia and expand into more sectors [2] Group 2 - China has maintained its position as the largest trading partner of Arab countries, with a projected trade volume of $407.4 billion in 2024, marking a 2.3% increase year-on-year [3] - The expo provided opportunities for companies like Ningxia Longi Ningguang Instrument Co., Ltd. to explore the Arab market, indicating a shift from a domestic focus to international expansion [3][4] - The event highlighted the growing trade relations between China and Syria, with a focus on cultural heritage products and the potential for further collaboration [4] Group 3 - The expo introduced several firsts, including a green electricity application zone and an artificial intelligence exhibition, reflecting a new wave of cooperation in technology and sustainable practices [6] - Companies showcased innovative products, such as humanoid robots and advanced agricultural systems, aiming to enhance their international presence and explore new markets [6][7] - Ningxia's trade with Arab countries saw a significant increase, with a 41.5% rise in import and export value in the first seven months of the year [8]

Core Viewpoint - Wasion Holdings has secured three overseas contracts in 2023, enhancing its international presence and brand recognition in the smart meter market [1][2] Group 1: Contract Details - Wasion Mexico signed a smart meter supply agreement with the Mexican Federal Electricity Commission (CFE) valued at over 238 million RMB, contributing to a total of approximately 791 million RMB in contracts won in Mexico by 2025 [1] - Wasion Tanzania won a smart meter contract worth about 61 million RMB from the Tanzania Electric Supply Company (Tanesco) [1] - The total value of the three contracts amounts to over 852 million RMB, indicating significant growth in overseas markets [2] Group 2: Market Position and Strategy - CFE is the dominant player in Mexico's electricity sector, serving around 50 million users, while Tanesco is the sole state-owned power company in Tanzania, serving approximately 15 million users [2] - Wasion Holdings aims to establish Tanzania as its business hub in East Africa, with plans to expand into Uganda, Kenya, and Mozambique [1][2] - The company is focused on maintaining a stable order flow for smart meters in Africa and is also exploring new projects in energy storage [2] Group 3: Company Overview - Wasion Holdings is a leading domestic energy measurement and efficiency management enterprise, offering solutions in smart metering, communication, and fluid measurement [1] - The company has a significant market share in China and exports its products to various regions, including Asia, Africa, and Europe [1]

Market Overview - On July 16, the Hang Seng Index fell by 72 points or 0.3%, closing at 24,517 points, while the Hang Seng Tech Index decreased by 0.2% to 5,418 points[1] - The total market turnover reached HKD 259 billion, indicating active trading, with a net inflow of HKD 1.6 billion through the Hong Kong Stock Connect[1] Sector Performance - Funds are shifting towards previously lagging sectors such as technology, robotics, software, telecommunications, and food and beverage[1] - Pharmaceutical stocks like Lijun Pharmaceutical (1513 HK), Fosun Pharma (2196 HK), and Weigao Group (1066 HK) saw gains between 5.6% and 13.1%[1] - High-end manufacturing stocks such as Sanhua Intelligent Control (2050 HK) surged by 8.4%, while related AI and robotics manufacturing stocks rose by 3.9% to 6.4%[1] Global Financial Trends - The US dollar index and the 10-year US Treasury yield have been gradually rising since July, potentially impacting liquidity in the Hong Kong market[2] - The forecasted PE ratio for the Hang Seng Tech Index is 15.6 times, close to historical lows, with its valuation relative to the NASDAQ 100 at the 23.3% percentile over the past three years[2] Company Highlights - Pop Mart (9992 HK) expects a revenue increase of no less than 200% and a net profit growth of at least 350% for the first half of the year, but its stock fell by 4.0% post-announcement due to profit-taking[3] - 361 Degrees (1361 HK) anticipates double-digit revenue growth for the first half of the year, with a year-to-date increase of 19.1%[3] Healthcare Sector Developments - The Hang Seng Healthcare Index rose by 0.8%, with China Biologic Products (1177 HK) announcing a USD 500 million acquisition of a new drug company, which is expected to drive revenue growth[4] - Green Leaf Pharmaceutical (2186 HK) shares increased by 9.4%, driven by expectations of overseas licensing agreements[4] Renewable Energy and Utilities - The renewable energy and utilities sector saw a general decline, except for Winsun Holdings (3393 HK), which rose by 3.6% and has increased by 28.7% since coverage began in June[5]