政府对光伏等新能源产业的政策导向从防止无序扩张转向整治，旨在解 决供需矛盾，避免地方政府因企业亏损而加重债务负担，并维持整体经 济稳定，但避免"一刀切"措施。 光伏行业经历价格战和抢装潮后，受政策及需求变化影响，市场需求承 压，三季度面临高基数效应，需政策发力以避免对 GDP 形成拖累。市场 炒作流程时间跨度约一个季度。 政府在制定反内卷政策时需平衡多方利益，包括避免"一刀切"、处理 地方政府债务、应对通缩压力，并统筹规划全国统一大市场，确保产业 发展适宜性。 2026 年至 2030 年全社会用电量复合增速预期为 4%-6%，直接影响光 伏和风电装机目标。若增速达 5%以上，光伏装机有望达 200GW 以上， 风电为 110-120GW。 风能整机行业受益于防内卷策略，盈利能力提升，如明阳智能等公司盈 利兑现，股价弹性预计可达 30%以上。港股金风科技因起步估值较低受 市场青睐。 Q&A 2024 年和 2025 年的反内卷政策有哪些主要变化和实施情况？ 2024 年的反内卷政策从 5 月底开始，到 7 月份的政治局会议首次提出防止内 卷式竞争，随后在 12 月的中央经济工作会议上进一步强调整治内卷式竞争。 ...

转自：龙头新闻·黑龙江日报 文｜龙头新闻·黑龙江日报 刘莉 记者近日从哈尔滨东安汽车动力股份有限公司获悉，今年上半年，东安动力生产发动机整机330721台， 同比增长33.95%；销售整机311624台，同比增长45.44%，顺利实现产销"双过半"。 面对外部环境严峻复杂、汽车行业"内卷式"竞争极度加剧的态势，东安动力聚焦成本，强化顶层设计， 聚智创新谋发展，挑战极致降本。进一步完善价值创造模型，全面引入"质量成本""数字智能"等模块， 从目标制定到过程管控、从跟踪反馈到评价牵引，深入开展全价值链降本工作。上半年，实现降本超1 亿元，超额完成半年成本管控任务目标。 生产现场 东安动力紧跟时代浪潮，坚持守正创新，上半年，市场开拓蹄疾步稳，产品研发硕果累累，走出一条独 具特色的自主创新之路。 创新市场开发模式，建立引导型市场开发、创新型价格管理体系、针对性市场推介，打造行业领先 的"前瞻预判+精准引导+全生态链拓展"精准化全新市场开发模式。上半年，东安动力斩获新市场项目 定点60项，同比增长173%，其中新能源和特品新市场项目各定点14项，同比分别增长100%和250%，已 定点新市场项目生命周期规划销量达300 ...

高效便捷的城际交通网络是推动经济要素高速流转、催化文化融合共生的基础纽带，更是城市间协同发 展的关键引擎。 7月6日，遂川至大余高速公路正式建成通车。这条斥资244.5亿元、全长127公里的战略通道，将赣州至 粤港澳大湾区的车程进一步压缩至4小时，为人员往来与商贸流通按下"快进键"。 截至目前，粤赣两省已建成7条跨省高速通道，平均每50公里一条高速的密度全国领先，而即将开工的 潮南高速与寻全高速西延段，将彻底实现两省界县域高速100%全覆盖。 而依托日益完备的交通体系，粤赣产业协作持续深化。"湾区研发+江西制造"发展模式活力迸发：格 力、比亚迪等千亿级产业项目沿高速走廊西进布局；另一方面，江西企业赵一鸣零食在东莞设立研发中 心，并将部分核心部门迁至广州。双向流动的要素正通过公路网完成聚合裂变，宛若区域协同发展 的"共赢走廊"。 而这仅仅是周边省市加速"融湾"的一个缩影——近年来，广西、湖南、江西、贵州等地加快与粤港澳大 湾区建立跨区域协作关系，尤其依托便利完善的交通网络实现了要素流通、产业协同，而广东也在规避 生产成本日渐高企、留住核心供应链产业链的背景下，加快探索出一种"湾区研发/市场+省外制造"开发 合作 ...

2025 年 7 月 7 日 电力设备新能源、公用事业、环保 聚焦"防内卷"政策投资策略，优先推荐风电整机环节 ——电新公用环保行业周报 20250706 电力设备新能源 买入（维持） 公用事业 买入（维持） 环保 买入（维持） 作者 分析师：殷中枢 执业证书编号：S0930518040004 010-58452071 yinzs@ebscn.com 分析师：郝骞 执业证书编号：S0930520050001 021-52523827 haoqian@ebscn.com 分析师：陈无忌 执业证书编号：S0930522070001 021-52523693 chenwuji@ebscn.com 分析师：宋黎超 执业证书编号：S0930523060001 021-52523817 songlichao@ebscn.com 分析师：和霖 执业证书编号：S0930523070006 021-52523853 helin@ebscn.com 联系人：邓怡亮 021-52523802 dengyiliang@ebscn.com 行业与沪深 300 指数对比图 -20% 0% 20% 40% 60% 2024/7/4 202 ...

Core Viewpoint - Guangdong Junya Electronics Technology Co., Ltd. has experienced a decline in revenue and net profit for three consecutive years, with a reported loss in 2024, primarily due to challenges in the printed circuit board (PCB) sector [2][18]. Group 1: Financial Performance - The company's revenue from PCB products decreased from 2.34 billion yuan in 2022 to 2.08 billion yuan in 2024, reflecting a downward trend in profitability [2][16]. - The gross profit margin for PCB products dropped from 16.14% in 2023 to 9.30% in 2024, indicating significant pressure on margins [16][17]. - The company reported a total revenue of 2.20 billion yuan in 2024, down from 2.30 billion yuan in 2023, with a total cost of 1.99 billion yuan [16][19]. Group 2: Customer and Supplier Dynamics - The top ten customers for 2024 accounted for 32.43% of total sales, with significant changes in customer composition due to market conditions [2][6]. - Major customers such as Weichuangli and Souluan experienced order declines due to inventory destocking in the overseas photovoltaic sector and international trade impacts [2][6]. - The top ten suppliers accounted for 50.14% of total purchases, with changes driven by procurement strategy adjustments and supplier performance [6][7]. Group 3: Production and Cost Structure - PCB production volume decreased from 3.11 million square meters in 2023 to 2.97 million square meters in 2024, while sales volume also declined [8][12]. - The cost structure for PCB products remained stable, with direct materials accounting for 66.06% of total costs in 2024, up from 64.37% in 2023 [8][12]. - The average procurement prices for key raw materials such as copper foil and gold salt increased, contributing to higher production costs [11][20]. Group 4: Industry Context - The global PCB market is projected to grow, with a forecasted value of $73.57 billion in 2024, driven by demand in sectors like AI and electric vehicles [13][17]. - The PCB industry faces intense competition, with over 2,200 manufacturers globally, leading to price erosion and margin pressures [14][15]. - Despite a recovery in the PCB market, the company struggles with specific customer demand and competitive pricing strategies, impacting overall profitability [20].

Group 1 - The "X-Day" event in Shenzhen showcased 7 leading companies in the low-altitude economy, covering areas such as flying cars, drone logistics, advanced flight control, and new energy aviation technology [1][3] - The event facilitated deep dialogues between over 100 top capital and industry giants, exploring the potential of the low-altitude economy, which is projected to be a trillion-dollar market [1][4] - The event featured a low-altitude racing demonstration, highlighting China's technological capabilities in this emerging sector [1] Group 2 - Eight representative companies from the low-altitude industry participated, with 7 presenting and 1 demonstrating on-site, supported by prominent venture capital firms and financial institutions [3][4] - Pacific Insurance has provided risk protection for over 5,000 enterprises and institutions, with a cumulative insurance amount exceeding 10 billion yuan, significantly supporting the drone industry's development [3] - Beijing Bank's "Leading E-loan" product has been tailored to provide financing services to drone clients, further aiding the growth of the low-altitude industry [3] Group 3 - The "X-Day" platform serves as a comprehensive technology finance service platform, connecting capital with technology and industry through a multi-faceted service approach [5][6] - Since its inception, the "X-Day" platform has hosted five themed roadshow events monthly, receiving 115 financing project applications and forming deep ecological partnerships with over 180 investment and financial institutions [6] - A total of 31 companies have participated in roadshows, with 2 signing investment agreements and 2 completing financing transactions, raising over 120 million yuan in equity financing [6]

深圳商报·读创客户端记者 宁可坚 近日，节卡机器人股份有限公司（简称：节卡股份）更新招股书，更新提交相关财务资料。 据悉，2023年5月，节卡股份递交的招股书被上交所受理，其计划于科创板上市，两年时间过去，其审 核状态仍处于问询阶段，尚未进入上会阶段。 扣非仍亏损 报告期内，公司归母净利润分别为-573.57万元、-2854.73万元及622.80万元，扣非净利润分别为4.40万 元、-3567.93万元及-227.82万元。剔除汇兑损益影响后的扣非净利润分别为-2992.19万元、-4178.73万元 及-619.31万元。 截至2024年12月末，公司累计未分配利润为-5803.40万元，报告期末存在累计未弥补亏损。 | 项目 | 2024. 12. 31/ 2024 年度 | 2023.12.31/ 2023 年度 | 2022.12.31/ 2022 年度 | | --- | --- | --- | --- | | 资产总额(万元) | 104, 667. 41 | 91.654.04 | 95,233.60 | | 归属于母公司所有者权益(万元) | 83, 671. 13 | 79.573.49 ...

Group 1 - The Zhejiang Provincial Low Altitude Economic Industry Fund, with a scale of 1 billion yuan, has been established to focus on the low altitude economy and its upstream and downstream industrial chains [1] - The fund adopts a "dual GP dual state-owned capital" management model, involving multiple stakeholders to create a capital coordination network [1] - The fund's investment direction includes low altitude aircraft manufacturing, infrastructure construction, logistics, and commercial satellite manufacturing, forming a comprehensive investment matrix [1][2] Group 2 - The fund will implement a strategy of "early investment, small investment, long-term investment, and hard technology" to support innovative enterprises in overcoming key challenges [2] - Since 2016, the Taizhou Bay New Area has cultivated 78 enterprises in the low altitude economic industrial chain and has issued supportive policies for high-quality development [2] - The fund management team is actively engaging with initial reserve projects, focusing on areas such as drone systems and satellite components to ensure rapid project implementation [3]

Overview of the Transaction - The company plans to sell 100% equity of its indirect subsidiary, Lexmark International II, LLC, to Xerox Corporation for a cash transaction [3][4] - The transaction involves the joint investment entity Ninestar Holdings Company Limited, which is controlled by the company, PAG Asia Capital, and Shoda Investment [3][5] - The transaction is classified as a major asset restructuring due to the significant proportion of Lexmark's assets and revenue compared to the company's total assets and revenue [7][8] Transaction Details - The estimated transaction price is based on a benchmark amount of $1.5 billion, adjusted for estimated financing liabilities, net working capital, cash on the closing date, and transaction costs [4][10] - The final transaction price will be adjusted post-closing based on the final net working capital, financing liabilities, and other factors, with a maximum adjustment limit of $30 million [11] - The transaction is expected to close on July 1, 2025, subject to the fulfillment of certain conditions [9][10] Financial Analysis - The valuation report by Zhonglian International indicates that the equity value of Lexmark International II, LLC is estimated between $172 million and $198 million, with net adjustments leading to a final estimated value of $99 million to $125 million after accounting for various expenses [7] - The financial metrics of Lexmark International II, LLC show total assets of approximately ¥1,958.41 million and revenue of ¥1,596.13 million, which represent 52.43% and 60.43% of the company's respective totals [7] Regulatory and Approval Process - The transaction has undergone necessary internal approvals from the board and shareholders, and external regulatory approvals are in process [9][14] - The transaction does not constitute a related party transaction, and there are no changes in the company's control as a result of this sale [8][9] Company Background - The company, Nasda, is listed on the Shenzhen Stock Exchange with the stock code 002180 and has a registered capital of ¥1,422,989,339 [5][6] - Xerox Corporation, the buyer, is a publicly traded company on the NASDAQ with a focus on document management systems and solutions [6]

Core Viewpoint - Heilongjiang Province is implementing policies to support the high-quality development of the aerospace industry, particularly focusing on strengthening and expanding the aircraft manufacturing sector [1] Group 1: Policy Support - The Heilongjiang Provincial Government has issued several policy measures aimed at promoting the aerospace industry [1] - The policies encourage aviation companies to accelerate the certification of aircraft and engine products through independent research and project introduction [1] Group 2: Financial Incentives - Companies that obtain type certification or production licenses for aircraft and aircraft engines will receive a one-time reward equal to 50% of the annual sales revenue from the certified products [1] - The maximum reward for a single model of aircraft is 10 million yuan, while for aircraft engines, it is 5 million yuan [1]