北京商报讯（记者 张天元）为加快推进北京国际美食之都建设，9月26日，北京市商务局联合市住房城 乡建设委等多个部门，印发《关于进一步优化营商环境促进北京餐饮业高质量发展的若干措施》（以下 简称"《措施》"）。《措施》中提到，推广燃气接入三零服务模式。餐饮用户向本市燃气供应企业申请 开通管道天然气，经燃气供应企业评估符合"小微工程"的，即：气源接自现状低压管网，接入管径不大 于DN100、新建户外管线长度不大于200米，开挖、占用道路（城市道路、公路）和临时占用绿地长度 不大于100米适用本市"非禁免批"政策的新发展商服用户工程（非开挖技术除外），实行"零上门、零审 批、零投资"三零服务模式，用户仅需承担户内灶具和报警通风系统费用，且办理时限压减至4-12个工 作日。 ...

Group 1 - The core point of the news is that southbound funds increased their holdings in Beijing Holdings (00392.HK) by 4,000 shares on September 24, 2025, while there were net reductions in holdings on 9 out of the last 20 trading days, totaling a net reduction of 1.8335 million shares [1][2] - As of now, southbound funds hold 258 million shares of Beijing Holdings, which accounts for 20.5% of the company's total issued ordinary shares [1][2] - In the last 5 trading days, there were 2 days of net reductions totaling 38,500 shares [1][2] Group 2 - Beijing Holdings Limited primarily engages in gas business through five segments, including the distribution and sale of pipeline natural gas and related equipment, as well as the production and sale of oil and gas [2] - The water business segment constructs sewage and drinking water treatment plants and other infrastructure, providing water supply and consulting services [2] - The environmental business segment offers waste incineration plant construction and waste treatment services, selling electricity, steam, and heat generated from waste incineration [2] - The beer business segment is involved in the production, distribution, and sale of beer products [2] - Other business segments provide consulting services, engage in property investment, and manage corporate income and expenditure projects [2]

Core Viewpoint - The European Commission has proposed a significant change in the energy landscape by banning the import of Russian liquefied natural gas (LNG) starting January 1, 2027, reflecting a growing urgency for energy independence from Russia [1][3]. Group 1: Financial Implications - The EU currently pays between €500 million to €700 million monthly for Russian LNG imports, translating to an annual outflow of €6 billion to €8.4 billion, which is a crucial source of foreign exchange for Russia [3]. - The accelerated timeline for the ban, moved up by a year, indicates the EU's increasing urgency regarding energy independence [3]. Group 2: Strategic Considerations - The proposal aims to weaken Russia's financial capabilities, as energy export revenues are a significant part of the Russian federal budget, contributing hundreds of billions annually [12]. - The EU's decision is influenced by multiple factors, including pressure from the U.S. government to reduce reliance on Russian energy, which is viewed as a security risk [7]. Group 3: Political Dynamics - The proposal marks a fundamental shift in the EU's energy policy, as previous sanctions did not target natural gas due to the need for unanimous agreement among member states [15]. - Some EU member states, particularly landlocked ones, face significant challenges in transitioning away from Russian pipeline gas, necessitating substantial investment and time to develop alternative infrastructure [17]. Group 4: Implementation Challenges - The proposal must undergo a complex approval process to become legally binding, requiring specific majority support in the European Council and simple majority approval in the European Parliament [22]. - There are discussions among European Parliament members to include pipeline gas in the ban and to expedite the implementation timeline, indicating a growing resolve to eliminate dependence on Russian fossil fuels [24].

Core Viewpoint - The company has approved a plan to issue convertible bonds to unspecified investors, which aims to enhance its financial position and support future growth initiatives [1][3][21]. Group 1: Board Meeting Resolutions - The company held its ninth temporary board meeting on September 19, 2025, where all 11 attending directors voted in favor of the proposal to issue convertible bonds [1][2]. - The proposal for the issuance of convertible bonds has been reviewed and approved by the company's fifth independent director meeting [3][6]. - The board also approved a report analyzing the issuance plan, which outlines the rationale and expected impacts of the bond issuance [4][6]. Group 2: Financial Impact and Measures - The company plans to issue up to 800 million yuan in convertible bonds, with the initial conversion price set at 13.88 yuan per share [23][24]. - The issuance is expected to have a dilutive effect on immediate returns, but the company has committed to measures to mitigate this impact, including improving operational efficiency and governance [30][39]. - The company has outlined specific commitments from its directors and major shareholders to ensure the effectiveness of the measures aimed at protecting shareholder interests [43][48]. Group 3: Project Justification and Market Position - The funds raised from the bond issuance will be used for projects closely related to the company's core business, particularly in the coal sector, which is a significant revenue source [30][31]. - The company has established a strong market position in the coal industry, leveraging its resources and expertise to enhance profitability and competitiveness [31][38]. - The projects funded by the bond issuance are expected to contribute significantly to the company's future growth and market presence [31][40].

原标题：央企AI视界丨贝侬 贝侬，是壮语中对亲朋好友的称呼，随着油气管网的建设，广西来了很多穿橙色衣服的"贝侬"，他们让 社区有了管道天然气，让用天然气比用自来水还要方便。从烧木柴到使用天然气，百姓是能源变革的见 证者、亲历者、受益者。千百年来的孜孜以求，如今，终梦圆。 ...

（原标题：法国将更多进口美国液化天然气，减少从阿尔及利亚进口管道天然气） 据阿尔及利亚TSA新闻网站9月11日报道，在法国与阿尔及利亚关系持续恶化、美国与 欧盟就关税问题达成协议后，法国能源巨头法国电力公司宣布将减少购买由管道输送 的阿尔及利亚天然气，转而进口美国液化天然气，以实现能源来源多元化。 法国电力公司占股98%的Edison公司每年分别从阿尔及利亚和利比亚购买10亿和44亿立 方米天然气，两份合同将于未来两年内到期。Edison公司9月9日宣布，已与壳牌公司签 订合同购买美国液化天然气，将减少从阿尔及利亚和利比亚购买管道天然气。自2028 年起Edison每年从美国采购70万吨液化天然气，合同为期15年。 能源供应多元化和价格是法国电力公司转向购买美国液化天然气的重要因素。根据欧 盟与美国达成的新关税协定，欧盟承诺将于三年内购买7500亿美元的美国能源产品， 以换取美国将欧洲输美产品关税从30%降至15%。 法国减少购买阿尔及利亚天然气将对阿造成重大影响，阿是欧盟的天然气主要供应国 之一，该国有两条分别连接西班牙和意大利的天然气管道。 ...

"嗒"，9月5日上午，盐边县城居民潘赛兰拧开燃气灶旋钮，蓝色火焰在炉灶上跳跃起来，至此，盐边居民开启了绿色、便捷生活的新篇章。 管道气通达前，盐边县城民用、商业能源主要是液化石油气、电力等。近年来，盐边县抓住"缅气入攀"的机遇，加快推进管道天然气应用工作。 2020年2月，市发展改革委会、交通运输局、城市执法局等多部门促成天然气管道"借桥过江"项目建设，"缅气"成功通达盐边县安宁工业园，为盐边县打造 世界级钒钛新材料产业集群注入了强劲动力。随即盐边县携手川港公司，启动"气化盐边"项目。 "气化盐边"项目是重点民生工程，也是川港公司建设攀枝花"全市一张网"、实现"气化全攀"的重要一环。该项目于2023年12月6日开工建设，其主体工程包 括盐边县供气工程、盐边县城区连接管道工程和零星用户管线连接工程（2025 年）至盐边县铁路绕行段等4个项目，全长17.834公里，设计规模 2.2万立方 米/天。 项目建设过程中，管道敷设的作业面经过梯级芒果台地、多处穿越人行道及市政道路、多次与城区已建老管道连头，克服了地形起伏变化大、作业面差、施 工难度大、协调难度大等多重困难，项目建设人员加班加点赶工期、追进度，优质高效地完 ...

9月3日，普京在访华成果记者会上抛出一个消息：中俄达成了新的管道天然气供应协议，而且给中国的 价格，比欧洲客户要低得多。他毫不遮掩地说，中国将以"合理的市场价格"拿到天然气，而不是欧洲正 在承受的"虚高价格"。 x 1 # 1 753.64 e 75 &@司马平邦 contries 而欧洲呢？他们一边拼命摆脱对俄能源依赖，一边又不得不从其他地区高价采购液化天然气，中间还夹 着地缘政治溢价、运输成本和能源安全焦虑。结果就是，欧洲老百姓和企业不得不面对电价气价飙升的 现实，通胀压力居高不下。普京轻描淡写一句"虚高价格"，背后其实是欧洲在战略自主上的被动和尴 尬。 说到底，这场天然气交易凸显出一个越来越清晰的现实，全球能源市场正在裂变，而束手束脚的欧洲， 正在为此买单。中国凭借市场规模和战略定力，拿到了最优价；而"欧公子"花钱买能源安全，妥妥的冤 大头。 普京这话的兴奋之情溢出屏幕，俄罗斯被西方制裁压得喘不过气，能源出口渠道大幅收窄，欧洲还刻 意"去俄罗斯化"，这种情况下，有了中国这个庞大而稳定的买家，自然要牢牢抓住。给中国更优惠的价 格，也是在用价格换市场，用长期合同换生存空间。而中国，正好借此机会进一步实现能源 ...

Group 1 - Blue Sky Gas announced the completion of its share reduction plan, with shareholders Li Guoxi, Li Xiaoxuan, and Secretary Zhao Xin reducing their holdings by 1.99 million shares, 289,800 shares, and 320,000 shares respectively, accounting for 0.278%, 0.041%, and 0.045% of the company's total share capital [1] - As of the announcement date, Blue Sky Gas has a market capitalization of 7.1 billion [1] - For the first half of 2025, the revenue composition of Blue Sky Gas is as follows: pipeline natural gas sales 46.44%, urban natural gas sales 40.58%, gas installation projects 9.83%, others 2.4%, and natural gas transmission 0.66% [1]

Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, with expectations of continued challenges in the pipeline and urban natural gas segments due to weak demand and delayed pricing adjustments for residential customers [1][2][4]. Revenue and Profit Summary - The company achieved revenue of 2.254 billion yuan in 1H25, a year-on-year decrease of 14%, and a net profit attributable to shareholders of 205 million yuan, down 40% year-on-year [1]. - In Q2, revenue was 858 million yuan, reflecting a year-on-year decline of 17% and a quarter-on-quarter decline of 39% [1]. - The company's pipeline natural gas revenue fell by 11.5% year-on-year to 1.047 billion yuan, primarily due to a decrease in sales volume and some major customers halting purchases [1][2]. Margin Analysis - The gross margin for pipeline natural gas decreased by 1.1 percentage points to 9.1%, attributed to a narrowing of the gross profit margin [1]. - Urban natural gas revenue declined by 8.7% year-on-year to 915 million yuan, with a gross margin decrease of 4.8 percentage points to 9.8% due to delayed pricing adjustments for residential customers and promotional discounts for industrial and commercial gas [2]. Dividend and Cash Flow - The company proposed a mid-term dividend of 286 million yuan, representing a year-on-year decrease of 10%, with a dividend per share (DPS) of 0.40 yuan and a payout ratio of 140%, higher than the previous year's 93% [3]. - Operating cash inflow for 1H25 was 112 million yuan, down 50% year-on-year, influenced by accounts receivable from a heat source plant [3]. Profit Forecast and Target Price Adjustment - The company revised down its net profit forecasts for 2025-2027 by 18% to 4.47 billion yuan, reflecting weaker-than-expected demand in the pipeline and urban natural gas sectors [4]. - The target price was adjusted to 10.63 yuan, down from 12.16 yuan, based on a revised price-to-earnings (PE) ratio of 17 times for 2025 [4].