召开专题工作会议。组织市场监管、民政、财政、住建、水利等相关县直部门以及水电气热专营单位召 开全县落实困难群众水电气热价格优惠政策座谈会。会上，下发了《沂源县水电气热价格优惠减免政策 明白纸》，梳理了各方面的价格优惠文件、政策依据等，要求各行业主管部门指导和督促各公用事业单 位对困难群众信息进行比较和核对，梳理水电气热"免申即享"政策落实情况，确保政策落到实处，并要 求各公用事业企业认真填写《水气热价格优惠政策"免申即享"工作台账》，按时做好上报工作。 梳理价格优惠政策。根据市级通知要求，梳理沂源县水电气热价格优惠政策，形成了《水电气热价格优 惠政策汇总表》，印发《关于印发 <水电气热价格优惠政策清单 沂源县="沂源县"> 的通知》,转发至各 镇、街道办、县直各部门以及水电气热专营单位，要求抓好工作落实。(沂源县发展和改革局崔光华) 做好工作安排部署。起草了《关于做好水电气热价格优惠政策落实工作的通知》、《关于做好水气热价 格优惠政策"免申即享"有关工作的通知》，明确了各单位工作职责和任务分工，要求各单位切实提高政 治站位，查漏补缺，抓好贯彻落实工作。 中国发展网讯为进一步落实困难群体水电气热价格优惠政策，根 ...

Core Viewpoint - The newly released "Antitrust Guidelines for Public Utilities" marks a significant step in China's antitrust legal framework, specifically targeting essential public services such as water, electricity, gas, heating, sewage treatment, waste management, and public transportation, aiming to enhance regulatory precision and support high-quality development [1] Group 1: Need for the Guidelines - Public utilities exhibit significant public, foundational, and network-dependent characteristics, with natural monopoly attributes primarily in infrastructure sectors [2] - Some public utility companies have misused their market power in natural monopoly sectors to extend monopolistic advantages into competitive areas, harming consumer rights [2] - Since the implementation of the Antitrust Law, 43 antitrust cases in the public utility sector have been investigated, highlighting both the accumulation of enforcement experience and existing challenges in the regulatory landscape [2] Group 2: Institutional Innovations - The Guidelines consist of seven chapters and 50 articles, emphasizing four major innovations: - A modern governance approach of "differentiated regulation and precise measures," focusing on distinguishing between natural monopoly and competitive sectors [4] - Clear analysis factors for identifying abuse of market dominance in public utilities, detailing specific behaviors and legitimate justifications [5] - Systematic regulation of fair competition reviews and the abuse of administrative power to eliminate competition [6] - A "flexible and multi-faceted" incentive and constraint mechanism encouraging companies to comply proactively [7] Group 3: Practical Significance - The implementation of the Guidelines will provide a professional and clear enforcement toolbox for regulatory agencies, enhancing case handling quality and efficiency [8] - For public utility operators, the Guidelines serve as an authoritative compliance guide, helping them identify risks associated with extending monopolistic advantages into competitive areas [8] - The Guidelines aim to enhance consumer welfare by regulating unfair pricing, refusal to deal, and other practices that harm public interests, ensuring better access to essential services [8] Group 4: Future Outlook - The release of the Guidelines signifies a solid step in China's antitrust legal system, with a mission to support high-quality development and common prosperity [9] - Strengthening antitrust enforcement in public utilities is crucial for building a unified national market, addressing hidden barriers that hinder free flow of resources [9] - Antitrust enforcement must adapt to emerging trends in digitalization, addressing potential new forms of monopolistic behavior in smart utilities and platform services [10]

Core Insights - The article discusses the innovative business model of Qinglan Water Delivery, which sells water at 39.8 yuan per barrel while providing daily cash rewards to users, effectively covering 30 districts within six months. This model emphasizes that profitability in today's market relies on connecting products with users to create a sustainable business ecosystem [1]. Group 1: User Engagement Strategies - Qinglan Water's package includes two barrels of water and a 24-day cashback activity, cleverly designed to encourage user engagement and repeat purchases through daily lottery participation [3]. - The lottery mechanism creates a sense of urgency with limited-time offers, resulting in over 40% of users making additional purchases, akin to a well-designed game that enhances user interaction [3]. Group 2: Transformation of Delivery Personnel - Delivery personnel in Qinglan have evolved from mere delivery workers to community "lifestyle managers," providing additional products alongside water, such as fresh fruits and daily necessities [6]. - This transformation significantly increases the value of individual delivery personnel, with earnings exceeding 20,000 yuan per month for those covering a 2-3 km area, and partners managing multiple teams earning between 18,000 to 100,000 yuan [7]. Group 3: Diverse Revenue Streams - Qinglan's business model is not solely reliant on water sales; it has established five distinct profit segments, creating a diversified revenue structure that supports a healthy and sustainable business ecosystem [8]. Group 4: Lessons for Traditional Industries - The key takeaway from Qinglan's model is its design philosophy: using a high-frequency, essential product to enter the market, build trust, and then extend value through diversified services. This approach can be applied to various traditional industries [10]. - Examples include bulk purchasing to reduce costs, community group buying with service fees, targeted advertising for local businesses, membership fee income, and leveraging consumer data for deeper value [10][11]. Group 5: Win-Win Mindset - The success of Qinglan's model represents a victory for a win-win mindset, benefiting users, delivery personnel, partners, and local businesses by creating new sales channels [13]. - In the context of consumption upgrades and digital transformation, traditional industries should reassess their strategies, focusing on adding services, enhancing user experience, and expanding revenue sources [13].

Core Viewpoint - Weisheng has announced that the Shanghai Stock Exchange has accepted its application for the listing of Weisheng Information Technology on the Sci-Tech Innovation Board, marking a significant breakthrough since the announcement of its spin-off in January 2017, although the specific timing remains uncertain [1][3]. Company Overview - Weisheng Information Technology is engaged in two main businesses: (1) data acquisition terminals and (2) water, gas, and thermal meters. As of the announcement date, Weisheng holds a 65% stake in Weisheng Information Technology [1][3]. - The company plans to issue up to 150 million new shares to raise approximately RMB 605 million, although the exact issuance scale is yet to be determined [3]. Financial Performance - In 2018, Weisheng Information Technology reported a net profit of RMB 177 million, an increase from RMB 149 million in 2017 and RMB 80.5 million in 2016. Revenue grew from RMB 680.3 million in 2016 to RMB 1.0386 billion in 2018 [3]. - The proportion of revenue from the top five customers decreased from 76.42% in 2016 to 64.78% in 2018, indicating a diversification in the customer base [3]. Industry Dynamics - The demand for high-end measurement equipment is expected to increase as the State Grid promotes the development of a ubiquitous power IoT. New standards for measurement equipment and communication are likely to be released in 2019, creating growth momentum for Weisheng's other business segments [4]. - The upgrade of power transmission standards is anticipated to drive the next phase of growth for Weisheng, as the company will benefit from providing measurement devices with communication and sensor functions [4].

Group 1 - The company, Fuhua, plans to register 48 cosmetic products by 2025, covering various forms such as water, lotion, cream, and essence [2][5] - Detailed product registration information can be found on the National Medical Products Administration website [2][5]

Core Viewpoint - Fuhua Jia (301371) is a specialized skin care product company focused on the research, production, and sales of professional skin care products, which are divided into medical device products and functional skin care products [1] Group 1: Product Offerings - The company's product forms include masks, waters, serums, lotions, sprays, freeze-dried products, and single-use serums [1] Group 2: Sales Strategy - The company employs an omnichannel strategy for sales, integrating both online and offline channels [1] - Online channels include major e-commerce and social media platforms such as Tmall, Douyin, JD.com, and Pinduoduo [1] - Offline channels penetrate cosmetic specialty stores, large supermarkets, chain pharmacies, beauty institutions, and medical institutions, creating a comprehensive market reach network [1]

Core Thesis - Core & Main, Inc. (CNM) is positioned to benefit from increased public-sector infrastructure spending, especially with expectations of lower interest rates stimulating municipal projects [2][3][4] Company Overview - Core & Main is a leading distributor of essential infrastructure products such as pipes, valves, meters, and fittings, serving municipalities, contractors, and select water utilities [2] - As of January 29th, CNM's share price was $54.19, with trailing and forward P/E ratios of 24.21 and 21.83 respectively [1] Investment Catalysts - The investment from Congressman Michael McCaul's household, amounting to $250,000–$500,000, has drawn attention to CNM's fundamentals and potential growth [2] - Expectations of the Federal Reserve cutting interest rates are anticipated to lower financing costs, thereby increasing demand for CNM's products [3] - The company's business model is closely tied to public-sector infrastructure spending, which is expected to expand as borrowing costs decrease [2][3] Financial Performance - Core & Main has demonstrated steady mid-single-digit growth and generates approximately $600 million in free cash flow, showcasing high cash conversion compared to peers [3] - The company maintains a resilient core business even amid rate headwinds, with easing financial conditions likely to enhance performance further [4] Valuation Outlook - A 2–3 year price target of around $85 suggests significant upside potential as infrastructure spending cycles strengthen [4]

格隆汇2月1日丨乐山电力(600644.SH)公告，2025年度业绩快报，营业总收入为33.95亿元，同比增长 6.24%。归属于上市公司股东的净利2340.23万元，同比增长3.68%。报告期内,公司完成发电量56,783万 千瓦时,同比增长6.94%；完成售电量474,723万千瓦时,同比增长1.18%；完成售气量16,643万立方米,同比 下降2.98%；完成售水量6,306万立方米,同比下降4.37%。 ...

全县电力线路和通信均正常； 30家企业车间、厂房等设施不同程度受损； 部分景区游客服务中心、观景栈道、旅游厕所等基础设施不同程度受损； 经济观察网 据央视新闻客户端消息，昨天14时56分，甘肃省甘南州迭部县（北纬34.06度，东经103.25 度）发生5.5级地震，震源深度10千米。记者从甘南州迭部县"1.26"地震抗震救灾指挥部了解到： 4家水电站办公楼、厂房、渠道受损； 经持续核查灾情，截至27日4时30分，迭部县市政管网、道路等基础设施受损25处； 供水公司办公楼受损，供水设施正常运转、蓄水池无破损； 供暖公司办公楼受损，锅炉烟道破裂，换热站2处水箱开裂，厂区水箱渗漏，经全力抢修，全县的一级 管网已开始注水加压； 液化气站、天然气站房屋受损，已暂停使用供气设备，储罐及管道无破损渗漏现象； 县内6家加油站均正常运营，油量储备充足； 当地已排查国省干线及农村公路228条967公里，清理塌方落石31处6530立方米。目前，道路通畅，11座 隧道无明显裂缝，184座桥梁无垮塌中断。 同时，当地为安置帐篷全部安装一氧化碳报警装置，张贴安全防护宣传单，确保安置点群众生活安全、 有序。其他情况正在进一步核实当中。 9 ...

Core Viewpoint - Yanjing Beer has experienced a decline in stock price recently, with a current trading price of 12.03 yuan per share and a market capitalization of 33.907 billion yuan, despite a year-to-date increase of 7.12% in stock price [1] Financial Performance - For the period from January to September 2025, Yanjing Beer reported a revenue of 13.433 billion yuan, reflecting a year-on-year growth of 4.57%, and a net profit attributable to shareholders of 1.770 billion yuan, which is a significant increase of 37.45% [2] Shareholder Information - As of January 20, 2025, the number of shareholders for Yanjing Beer is 44,100, showing a decrease of 3.61% from the previous period, while the average circulating shares per person increased by 3.75% to 56,890 shares [2] - The company has distributed a total of 4.791 billion yuan in dividends since its A-share listing, with 1.325 billion yuan distributed in the last three years [3] Institutional Holdings - As of September 30, 2025, the second-largest circulating shareholder is Hong Kong Central Clearing Limited, holding 74.5763 million shares, a decrease of 21.0157 million shares from the previous period [3] - The fourth-largest circulating shareholder is the Wine ETF (512690), which increased its holdings by 15.0099 million shares to 45.1167 million shares [3]