促动力药 代表药物有莫沙必利、伊托必利、普芦卡必利。这类药的作用机制是激动肠壁5-HT4受体，促 进乙酰胆碱释放，增强肠道蠕动。其特点是适用于慢传输型便秘（肠道动力不足），需与其他泻药联合 使用，可能引起腹泻、腹痛等副作用。 促分泌药 代表药物有利那洛肽、鲁比前列酮。这类药的作用机制是激活肠道氯离子通道，增加肠液分 泌，促进排便。用于常规治疗无效的慢性便秘，需医生处方，可能引起腹泻、恶心。 随着人们饮食结构改变、生活节奏加快和社会心理因素影响，近年来，市人民医院（南开大学第一附属 医院）接诊的慢性便秘患者呈明显上升趋势。统计显示，我国慢性便秘的患病率为4%至10%，女性患 病率高于男性，随着年龄的增长，患病率逐渐增高。该院药学部副主任史桂玲主任药师表示，便秘是一 种常见病，表现为排便次数减少、排便困难、粪便干硬。通常便秘病程≥6个月被称为慢性便秘。慢性 便秘严重影响生活质量，门诊中不少患者道听途说自行购买药物服用，或者一次看诊长期服药，不仅存 在药物安全隐患，还可能延误病情。因为一些便秘可由肠道肿瘤、甲状腺功能减退等疾病引起，用药前 需排除病因。史桂玲详细介绍了市面上七大类便秘药物的安全使用常识。 （来源：天 ...

目标公司的主要资产包括位于中国山东省莱州市银海化工产业园的一幅工业用地的土地使用权。该地点 邻近集团的现有厂房，该厂房亦位于同一产业园内。于收购事项后，集团将继续完成建设及办理必要的 行政手续。根据董事的最佳估计，待取得有关当局批准后，目标公司的主要资产预期作为集团新生产设 施，将不迟于2026年第三季度开始营运。将营运整合至同一产业园内，预期可提高管理效率、精简物 流，并实现两个生产基地之间的资源共享。 集团现有专门用于硫精矿再加工生产硫酸的工厂，于2024年及2025年的产量分别达约21.93万吨及22.42 万吨，其使用率分别占全产能的91.4%及93.4%。待目标公司全面投入营运后，预期将额外提供约20万 吨透过硫精矿再加工生产的硫酸产能。此举将大幅提升集团的整体产能，使其能够占据更大的市场份 额，并满足客户日益增长的需求。 董事认为，与从零开始兴建新厂房相比，收购事项使集团能够收购已在建的土地、基础设施及生产设 施。预期此举可降低开发风险及时间成本，从而有助于更及时地开始生产。 此外，目标公司的主要资产包括氨基磺酸及硫酸镁的生产线，此等产品乃硫酸的下游产品。因此，预期 收购事项将加快集团产品供应的多 ...

集团现有专门用于硫精矿再加工生产硫酸的工厂，于2024年及2025年的产量分别达约21.93万吨及22.42 万吨，其使用率分别占全产能的91.4%及93.4%。待目标公司全面投入营运后，预期将额外提供约20万 吨透过硫精矿再加工生产的硫酸产能。此举将大幅提升集团的整体产能，使其能够占据更大的市场份 额，并满足客户日益增长的需求。 董事认为，与从零开始兴建新厂房相比，收购事项使集团能够收购已在建的土地、基础设施及生产设 施。预期此举可降低开发风险及时间成本，从而有助于更及时地开始生产。 此外，目标公司的主要资产包括氨基磺酸及硫酸镁的生产线，此等产品乃硫酸的下游产品。因此，预期 收购事项将加快集团产品供应的多元化、产生新的收益来源，并进一步巩固其业务组合。 于本公告日期，目标公司的主要资产包括位于中国山东省莱州市银海化工产业园的一幅工业用地的土地 使用权，总占地面积约17.52万平方米，于2072年6月届满;在建物业，包括厂房、楼宇及仓库，现时建 筑面积约12.51万平方米，及其他基础设施、生产线及机器。 目标公司的主要资产包括位于中国山东省莱州市银海化工产业园的一幅工业用地的土地使用权。该地点 邻近集团的现有 ...

Core Insights - The 2024 National Sea Water Utilization Report indicates a significant increase in seawater desalination projects and capacity across China, with a total of 158 projects and a capacity of 2.856 million tons per day, an increase of 333,000 tons per day from 2023 [1] Group 1: Desalination Projects - In 2024, there are 61 large-scale seawater desalination projects with a capacity of 2.63 million tons per day, 48 medium-scale projects with a capacity of 200,000 tons per day, and 49 small-scale projects with a capacity of 14,000 tons per day [1] - Major coastal provinces such as Tianjin, Hebei, Shandong, and Zhejiang have significant desalination capacities, with Tianjin at 450,000 tons per day and Shandong at 860,000 tons per day [1] Group 2: Industrial Water Use - Seawater desalination primarily serves industrial water needs, especially in high-water-consumption industries like power generation, petrochemicals, and steel, with some use for domestic water in coastal cities and islands [2] - Large-scale projects like the Tianjin South Port Industrial Zone and the Yantai Longkou Yulong Island desalination project are set to provide crucial water resources for industrial development [2] Group 3: Cooling Water and Chemical Resource Utilization - In 2024, seawater cooling water usage is projected to reach 188.336 billion tons, an increase of 2.957 billion tons from 2023, with significant usage in coastal thermal and nuclear power plants [3] - The report highlights ongoing research and development in seawater resource utilization, including bromine and potassium extraction technologies, particularly in provinces like Tianjin and Shandong [3]

Core Viewpoint - China, as the world's largest gold producer, should enhance the recovery of valuable elements such as copper, lead, and zinc from refractory metallurgical ores to improve the utilization rate of associated resources in gold mining [1][2] Industry Development - The Chinese government has issued the "Implementation Plan for High-Quality Development of the Gold Industry (2025-2027)", emphasizing the need for green and efficient resource utilization, and supporting the integration of resources in key gold mining areas [1][2] - The gold solid waste treatment sector is poised for new development opportunities, with early movers in the industry likely to benefit from the next round of industry consolidation [1][2] Company Insights - Shandong Hongcheng Mining (Group) Co., Ltd. has developed a multi-stage flotation enrichment system to process gold mine tailings, achieving a sulfur recovery rate of 92% and producing 600,000 tons of sulfur iron concentrate annually, generating an annual output value of 210 million yuan [2][4] - The company is also addressing the challenge of high-silica flotation tailings, which are difficult to process due to low valuable component content, by developing a project that processes 1 million tons of high-silica tailings annually [3][4] Technological Advancements - Shandong Hongcheng has established a 240,000 tons/year deep processing project for sulfur iron ore, converting sulfur iron concentrate into industrial sulfuric acid, which is in high demand in the electronics and fine chemical industries [4][5] - The company has implemented a "negative energy consumption" smart energy system, achieving a negative carbon model with significant energy self-sufficiency and external supply capabilities [4][5] Market Potential - The gold solid waste treatment market in Shandong province is projected to exceed 18 billion yuan by 2027, with equipment investment needs surpassing 30 billion yuan, indicating that solid waste resource utilization will become a second growth curve for the gold industry [11][12] - The implementation plan aims to increase the comprehensive utilization rate of gold solid waste to over 35% by 2027, with a target of processing over 500 tons/day of gold ore in major mines [11][12] Strategic Importance - Gold is a strategic mineral resource with both commodity and monetary attributes, crucial for maintaining national industrial and financial security [6][12] - The industry faces challenges in comprehensive utilization rates, with current rates for tailings and smelting waste significantly lower than those in developed mining countries, highlighting the need for technological breakthroughs [8][12]

Market Overview - The A-share market showed a positive trend with the Shanghai Composite Index closing at 3381.58, up by 0.65% [2] - The Shenzhen Component Index and the ChiNext Index also experienced gains of 0.43% and 0.39% respectively, while the North Star 50 Index rose by 1.54% [2][7] - The overall market sentiment was characterized by a rebound, particularly in the coal and port shipping sectors [9][10] Valuation Metrics - As of the latest data, the price-to-earnings (PE) ratio for the Shanghai Composite Index is 12.11, while the price-to-book (PB) ratio stands at 1.25 [3] - The ChiNext Index has a significantly higher PE ratio of 26.44 and a PB ratio of 3.69, indicating a premium valuation compared to the broader market [3][8] - The overall market valuation metrics suggest a mixed sentiment, with some sectors appearing overvalued while others remain attractive [8] Company Dynamics - Baiotai (688177.SH) has signed a licensing and commercialization agreement with SteinCares for its BAT2406 injection in Brazil and Latin America, with a total transaction value of up to $10 million [30] - Warner Pharmaceutical (688799.SH) received approval for its raw material drug listing application, indicating positive developments in its product pipeline [32] Industry Trends - The electric power industry reported a significant increase in installed capacity, with solar power capacity growing by 56.9% year-on-year [29] - The humanoid robot industry is gaining traction, highlighted by the first professional exhibition in Hangzhou, showcasing advancements and trends in robotics [26] - Tesla has initiated paid trial operations for its autonomous taxi service in Texas, marking a significant step in the development of autonomous driving technology [24]