转自：中国质量报 链主企业：厦门钨业股份有限公司 得益于市场化运营机制与对产品质量的持续追求，厦门钨业逐步成长为全球领先的钨材料企业、国内锂电正极材料龙头与高质量发展的稀土企业。我们深刻 认识到，钨产业的质量飞跃，必须依靠产业链协同——从传统的"单点控制"转向现代的"链式协同"。为此，我们牵头组建钨产业链供应链质量创新联合体， 联合高校、科研院所及上下游企业，共建技术平台，共享质量数据，合力攻克多项关键核心技术，使主要产品质量达到国际先进水平。实践表明，以全产业 链协同提升整体质量，是锻造新质生产力、应对全球竞争的核心路径。面向未来，我们将坚持这一方向，努力将厦门打造为世界一流的钨产业基地，全面夯 实中国钨工业的国际竞争力。 厦门钨业展厅 链员企业：厦门金鹭特种合金有限公司 作为钨产业链链员企业，我们深知"行稳方能致远"：对内坚持精益生产、苦练内功；对外积极融通，与上下游协同定义标准、共克技术难题。在"链式协 同"模式下，我们不再是孤立的单元，而是通过深度嵌入产业链，与伙伴们共同确保了从原料到成品的全程稳定与可靠。这不仅提升了钨产业供应链韧性， 也显著增强了整体交付效率。展望未来，我们将继续发挥产业枢纽作用， ...

Investment Highlights - OPEC+ has announced an unexpected increase in production, raising the May output increase from 135,000 barrels per day to 411,000 barrels per day, with a cumulative increase approaching 1 million barrels per day [2][10] - The continuous increase in production is primarily from Middle Eastern countries, which will boost VLCC demand, benefiting the VLCC market in the future [11][10] - The recent adjustments in monetary policy, including a reduction in the housing provident fund loan rate, are expected to stabilize the real estate market and stimulate potential home-buying demand [13][15] Transportation Industry - The ongoing OPEC+ production increase is expected to pressure international oil prices, which may affect non-OPEC production capacity growth [11][10] - The demand for VLCC is anticipated to increase significantly if OPEC+ fully restores its voluntary production cuts by October 2025 [11][10] Real Estate Sector - The recent reduction in the deposit reserve ratio and policy interest rates is aimed at stabilizing the real estate market, with expectations of lower housing costs for residents [14][15] - The government emphasizes the importance of stabilizing both the real estate and stock markets to enhance social expectations and facilitate domestic demand circulation [15][16] New Consumption Sector - The company Lao Pu Gold plans to issue new shares to raise approximately HKD 2.7 billion, primarily to expand and optimize its store network [17][18] - The funds will be used to enhance existing stores and support inventory for peak sales seasons, capitalizing on the rising gold prices [18] Electronics Sector - Transsion Holdings reported a revenue of CNY 68.715 billion in 2024, with a slight increase in net profit, indicating a recovery in mobile phone demand in emerging markets [20][21] - The company is leveraging AI technology to build a comprehensive AIoT ecosystem, enhancing its product offerings and market presence [22][23] Public Utilities and Environmental Protection - Changjiang Electric reported a net profit of CNY 32.496 billion in 2024, with a significant increase in profit in Q1 2025, driven by improved hydropower generation [25][26] - The company is expected to maintain a strong dividend payout ratio, reflecting its stable cash flow and investment value in the hydropower sector [27][29] Construction Materials Sector - Dongfang Yuhong's revenue decreased by 16.7% in Q1 2025, indicating ongoing pressure from market demand and increased competition [31][32] - The company is undergoing a transformation to adapt to market changes, focusing on retail and diversifying its product offerings [32][33] Metals and New Materials - Xiamen Tungsten's revenue decreased by 10.7% in 2024, but net profit increased, indicating a mixed performance across its business segments [34][35] - The company is expected to benefit from rising tungsten prices and improvements in its rare earth and energy materials segments [37] Aviation Leasing Sector - Bohai Leasing reported a 99.8% increase in revenue in Q1 2025, driven by strong growth in its aircraft sales and leasing business [39]