聚焦提升公共服务水平，塑强"乐业山东"服务品牌，实施"全民参保·福暖万家"工程；推进普惠托育服 务，发展单位办托、社区嵌入、托幼一体等多元化托育服务；实施医疗卫生强基工程，逐步实现公办社 区卫生服务中心街道全覆盖；优化保障性住房供给，提升配租、配售服务效能；稳步推进灵活就业人员 参加住房公积金制度。 聚焦完善城市基础设施，实施都市圈城际通勤效率提升工程；推进城市燃气设施增容和胶东地区清洁供 暖"一张网"建设；加快老旧市政基础设施设备更新；集约建设"双千兆"网络、移动物联网、算力等数字 基础设施。 "十四五"时期，山东加强老旧片区、城中村、老旧小区、历史文化保护利用、基础设施等各类城市更新 项目系统谋划和实施，及时回应了群众关切，促进了城市功能完善和品质提升，也培育了新经济增长 点，给城市注入了更多活力。 比如，济南市舜泰广场智慧停车项目，实现多业态有机融合，既解决了交通微循环不畅又补齐了服务设 施配套，方便了周边群众出行和餐饮休闲。青岛市四方路历史文化街区恢复老建筑原有形制，显著提升 街区活力、环境品质，成为市民及游客体验青岛闲适文化的必到之地。 接下来，山东将持续推进城市更新，营造高品质城市生活空间。 聚焦 ...

每经AI快讯，朗新集团（SZ 300682，收盘价：15.2元）12月9日晚间发布公告称，公司第五届第一次董 事会会议于2025年12月9日在无锡市新吴区净慧东道118号朗新科技产业园以现场结合通讯方式召开。会 议审议了《关于聘任公司董事会秘书的议案》等文件。 2025年1至6月份，朗新集团的营业收入构成为：公共服务占比55.98%，智慧能源及创新业务占比 30.6%，互联网行业占比13.42%。 截至发稿，朗新集团市值为164亿元。 每经头条（nbdtoutiao）——处方药变"瘾品"：国内首次报告普瑞巴林滥用致成瘾病例，网络平台暴 露"无病历可购药"漏洞，列管与否尚需科学考量 （记者 曾健辉） ...

11月份制造业采购经理指数为49.2%。 11月30日，国家统计局服务业调查中心和中国物流与采购联合会发布了中国采购经理指数。 数据显示，11月份制造业采购经理指数为49.2%，比上月上升0.2个百分 点，景气水平有所改善；非制造业商务活动指数为49.5%，比上月下降0.6个百分点，显示非制造业经营活动有所放缓；综合PMI产出指数为49.7%，比上月下降0.3个 百分点，我国经济景气水平总体平稳。 分析认为，12月制造业市场需求仍有趋稳回升空间，并带动企业生产活动稳中有增，年末节庆和冬季消费相关需求集中释放会带动消费相关服务业有所回升，投资 有望继续发挥托底经济的作用。不过，专家也提出，要围绕"十五五"良好开局进一步加强宏观经济政策逆周期调节力度，显著加大政府公共产品、公共服务投资规 模，进一步有效有力带动企业订单增加。 11月份产需两端有所改善 11月份，制造业采购经理指数为49.2%，比上月上升0.2个百分点。中国物流与采购联合会特约分析师张立群认为，11月份PMI指数小幅回升，表明市场信心有所改 善。党的二十届四中全会精神全面贯彻落实，"十五五"发展目标鼓舞人心，都对市场信心产生积极影响。生产指数、需求 ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints of the Report - Since 2025, the announcements of "zeroing out" implicit debts in various regions have become more frequent, and the pace of urban investment platforms exiting the list has significantly accelerated. As of October 30, 2025, 70 regions across the country have officially announced the achievement of implicit debt zeroing out, with district - and county - level units being the main battlefield for debt resolution [1][7]. - The number of financing platforms has decreased by over 70%. Jiangsu Province has the highest number of exits, mainly district - and county - level non - bond - issuing platforms. The next stage of the "exit list" work may focus on higher - level bond - issuing entities [1][12]. - After exiting the list, the credit evaluation of urban investment platforms has entered a new stage of significant differentiation. In the short term, liquidity is crucial; in the medium term, the focus is on hematopoietic ability; in the long term, the key lies in functional positioning [3]. 3. Summary According to the Table of Contents 3.1 "One - Package Debt Resolution" Anniversary with Remarkable Achievements and Many Regions Announcing Zero Implicit Debts - Since the introduction of the "one - package debt resolution plan" in November 2024, the local debt resolution work has advanced for nearly a year. By October 30, 2025, 70 regions announced zero implicit debts, including 11 prefecture - level and 59 district - and county - level units [1][7]. - Other regions have also disclosed clear goals for zeroing out implicit debts, such as Shandong aiming for zero implicit debts by the end of 2028 and Shaoxing, Zhejiang achieving zero implicit debts by the end of 2025 [7]. 3.2 Over 70% Reduction in the Number of Financing Platforms and Their Characteristics 3.2.1 Jiangsu Province Has the Most Announced Exit - List Entities, Mainly District - and County - Level Non - Bond - Issuing Entities - As of September 2025, the number of national financing platforms and the scale of outstanding operating financial debts decreased by 71% and 62% respectively compared to March 2023. Among the 447 "exit - list" urban investment entities officially disclosed since 2022, Jiangsu accounted for nearly 70%, followed by Henan with 36, Chongqing with 29, and Qinghai with 13 [12]. - District - and county - level urban investment entities were the main body, and non - bond - issuing entities accounted for 94% [12]. 3.2.2 The Next Stage of the "Exit - List" Work May Focus on Higher - Level Bond - Issuing Entities - The current debt resolution path is to prioritize cleaning up platforms with simple debt relationships and small market impacts. Based on the fact that over 70% of financing platforms have exited, it is estimated that the implicit debts of district - and county - level urban investment in some provinces may have been mostly resolved, and the next stage may focus on higher - level bond - issuing entities [19]. 3.3 Insights into the Transformation Direction of Urban Investment from Asset - Liability Changes 3.3.1 Limited New Bond Issuance after Exiting the List, with Marginal Improvement in Bank Liquidity Support - Among the 447 entities that announced exiting the financing platform list, 420 were non - bond - issuing entities. Focusing on the 27 bond - issuing entities, as of June 30, 2025, only 4 of the 18 entities with outstanding bonds increased their bond scale compared to June 30, 2024 [23]. - According to the semi - annual report data in 2025, the short - term borrowing balance of these exit - list bond - issuing entities increased by 40.61% year - on - year, the bond balance increased slightly by 6%, and the long - term borrowing decreased slightly by 0.72%. The liquidity support from commercial banks for "exit - list" entities has improved [23]. 3.3.2 Changes in Assets and Liabilities of Urban Investment after Exiting the List - **Asset Side**: The pace of project construction has slowed down, and the asset management function has been enhanced. Urban investment enterprises have become more cautious in new project investments. The significant increase in fixed assets may be due to the injection of operating assets by local governments, aiming to enhance the platform's hematopoietic ability [2][29]. - **Liability Side**: Short - term liquidity support is prominent, and the long - term financing function needs to be restored. The growth of long - term borrowing is low. Local governments prioritize liquidity safety, and new project investments are more cautious. Special bonds have replaced some bank medium - and long - term loans to some extent [2][32]. 3.4 How to Evaluate the Credit of Urban Investment after Exiting the List 3.4.1 Market Perception Has Matured, and Valuation and Credit Qualifications Are Becoming More Differentiated - The market reaction has gone through stages from significant initial divergence and limited pricing differentiation to subsequent convergence of expectations and finally entered a new stage of significant differentiation based on individual qualifications. The future market will conduct more refined credit evaluations of exit - list entities [33]. 3.4.2 Reconstruction of the Credit Framework - Short - Term Focus on Liquidity, Medium - Term on Hematopoietic Ability, and Long - Term on Functional Positioning - **Short - term**: The key is to evaluate the thickness of the liquidity safety cushion, including the coverage of short - term debts by monetary funds, available bank credit lines, and the scale of high - quality realizable assets [37]. - **Medium - term**: The core is to examine the transformation effectiveness and independent survival ability of the platform, mainly looking at the proportion of operating business income, profit quality, and net inflow of operating cash flow [38]. - **Long - term**: The key is to determine the platform's irreplaceability in the local economic ecosystem and the sustainability of its business model. Its credit foundation will shift from "implicit government guarantee" to "endogenous value" [38].

Group 1 - The core point of the news is that Langxin Group announced the pledge and release of shares by its controlling shareholder, Wuxi Puhua, with significant amounts involved [1] - Wuxi Puhua pledged 10.13 million shares and released 18 million shares recently, with a total of 54.0225 million shares pledged as of the announcement date [1] - The controlling shareholder and its concerted parties hold approximately 298 million shares, accounting for 27.62% of the total shares, with pledged shares representing 34.09% of their total holdings [1] Group 2 - For the first half of 2025, Langxin Group's revenue composition is as follows: public services account for 55.98%, smart energy and innovation businesses for 30.6%, and the internet sector for 13.42% [1] - As of the latest report, Langxin Group's market capitalization is 20.9 billion yuan [2]