前几天和老朋友喝茶，他说最近在留意一只即将在上交所上市的新股——林平发展，专门做瓦楞纸和箱板纸的研发生产，产品下游做成纸箱，物流、工业品 包装都能用。聊起来才知道，这家公司2002年就成立了，这么多年下来不仅攒了27项专利，还参与起草过行业国家标准，生产全流程都是自动化监控，产品 合格率高不说，成本还比同行低，和合兴包装这些下游大公司都有长期稳定的合作，产销规模远超行业平均水平。更亮眼的是他们走的废纸回收、热电联产 的循环经济路子，环保又有成本优势，之前还拿过安徽"千企帮千村"精准扶贫先进民营企业的称号，这次上市估计能给产能扩张和技术升级加把劲。我一听 就想起他去年那桩憾事——当时伊以冲突的消息出来，大盘一调他就慌着卖了手里的票，结果三天后行情又起来，拍大腿后悔了好久。其实现在消息传得 快，大家信息差没那么大，但反而容易被带节奏，关键还是得看懂背后机构的真实态度。 一、消息满天飞，为啥有人总是踏空 去年伊以冲突的消息出来那天，我那朋友跟我说，打开手机全是"A股要受拖累"的说法，虽然他心里犯嘀咕，但还是怕亏，赶紧把手里的两只票都卖了。结 果才过72小时，冲突缓解，大盘直接重拾升势，他看着之前卖的票一路涨，悔得连 ...

2月14日金融一线消息，中国人民银行、金融监管总局、中国证监会、农业农村部印发《关于统筹建立 常态化金融支持机制助力防止返贫致贫和乡村全面振兴的意见》，《意见》提出，保障农业全产业链金 融需求。加大农业特色产业金融支持力度，以生产流通等关键环节为依托，在合规的前提下，开发应收 账款融资、订（仓）单质押、供应链票据等供应链金融服务场景，提供结算、融资和财务管理等综合性 金融服务。金融机构要积极对接核心企业及仓储、物流、运输等环节的管理系统，实现信息互联互通， 提高服务能力和风险控制水平。积极对接全国农业品牌精品培育计划，针对优势特色产业集群等建立批 量化授信模式，提高服务效率。因地制宜打造休闲农业、乡村旅游、民宿经济、电商直播等新产业、新 业态金融服务模式，进一步拓展、提升农业综合收益。 责任编辑：王馨茹 2月14日金融一线消息，中国人民银行、金融监管总局、中国证监会、农业农村部印发《关于统筹建立 常态化金融支持机制助力防止返贫致贫和乡村全面振兴的意见》，《意见》提出，保障农业全产业链金 融需求。加大农业特色产业金融支持力度，以生产流通等关键环节为依托，在合规的前提下，开发应收 账款融资、订（仓）单质押、供应链 ...

央行等四部门发布《关于统筹建立常态化金融支持机制 助力防止返贫致贫和乡村全面振兴的意见》提 出，保障农业全产业链金融需求。加大农业特色产业金融支持力度，以生产流通等关键环节为依托，在 合规的前提下，开发应收账款融资、订（仓）单质押、供应链票据等供应链金融服务场景，提供结算、 融资和财务管理等综合性金融服务。金融机构要积极对接核心企业及仓储、物流、运输等环节的管理系 统，实现信息互联互通，提高服务能力和风险控制水平。积极对接全国农业品牌精品培育计划，针对优 势特色产业集群等建立批量化授信模式，提高服务效率。因地制宜打造休闲农业、乡村旅游、民宿经 济、电商直播等新产业、新业态金融服务模式，进一步拓展、提升农业综合收益。 ...

新春佳节将至,年味渐浓。在浮山县双新产业（300832）园区内,山西宇德新材料科技有限公司的现代化厂房里,自动化生产线正全速运转,一卷卷玻璃纤维原材 料经过拉挤设备的精密加工,变身为一片片用于风力发电机叶片"骨架"的高性能复合材料板材,生产现场一片火热繁忙景象。为保障节前重点企业生产用电无 虞,临汾供电公司组织人员,主动深入园区,开展新春走基层专项用电服务。 在生产车间技术人员介绍着每条生产线都是一个"用电大户",精准温控的固化炉、持续牵引的设备、自动收卷装置,都对电压稳定性和供电可靠性有着极高要 求。 "一期项目满负荷生产时,月用电量超过17万千瓦时。随着二期厂房即将投产,预计总用电负荷还将大幅增长。"企业电气负责人表示。 服务队详细记录了企业的负荷特性和未来规划,现场查阅了配电室运行记录,并使用红外测温仪对关键供电节点进行了检测。"一切正常,但我们建议对主供线 路增加一轮特巡,确保万无一失。"用电检查人员拜乐天建议。 "生产线对供电连续性和电压稳定性要求极高,尤其是固化环节的温控系统,电力保障是我们的生命线。"企业电气负责人向前来走访的供电公司客户经理介 绍。在该公司一期厂房内,整齐排列的100条自动化拉 ...

宏观政策暖风频吹，资本市场春意盎然。站在农历马年新起点附近，哪些领域将以奔腾之姿引领市场？ 一起来看看华商基金基金经理对市场和投资的思考吧。 华商基金权益投资部总经理助理、华商策略精选灵活配置混合基金经理王毅文表示，当前市场或处于一 轮新产业周期驱动的上行阶段中期，人工智能是本轮产业周期的主导产业。他将坚持以产业演进的视角 挑选方向，以长期持有的心态精选个股，用产业趋势中的确定性机会应对市场中的不确定性。 王毅文 华商基金权益投资部总经理助理 华商策略精选灵活配置混合基金经理 华商产业机遇混合等基金经理 王毅文于2013年加入华商基金，从研究员做起，历任机械、家电、中小盘研究员，后担任工业、消费组 组长，逐渐成长为实力派权益基金经理。目前他担任华商基金权益投资部总经理助理，管理华商策略精 选灵活配置混合等多只基金。王毅文目前拥有近13年的证券从业经历（其中7.3年证券研究经历，5.6年 证券投资经历），丰富的跨行业历练与实战经验，使他形成了以中观产业研究为核心的价值成长策略， 即以产业演进的视角挑选方向，以长期持有的心态精选个股。 王毅文的投资策略可以概括为"核心资产打底，产业周期增强"。他认为，核心资产作为 ...

Core Viewpoint - The report from Guosen Securities indicates that the medical services and consumer-related sectors have experienced long-term adjustments, resulting in valuations at historical lows. By 2026, improvements in supply structure, increased treatment volumes, and store optimization are expected to lead to a dual recovery in fundamentals and valuations, with AI empowerment providing new momentum for leading companies [1][2]. Group 1: Medical Services and Consumer Sectors - The medical services and consumer-related sectors are currently undervalued and poised for performance recovery, with a focus on specific sub-sectors [2]. - In medical services, improvements in supply structure and consumer environment are anticipated to gradually revive business, with stable customer spending and increased treatment volumes. Leading companies are expected to provide positive earnings guidance for 2026, indicating a potential dual recovery in fundamentals and valuations. AI-related business developments are also expected to drive new growth for leading medical service firms. Key companies to watch include Aier Eye Hospital (300015), Gushengtang, Tongce Medical (600763), and Haijia Medical [2]. - The pharmacy sector has shown significant marginal improvement in performance since Q3 2025, with leading companies improving same-store performance quarterly. Regulatory support from nine ministries emphasizes the long-term development direction of industry concentration and chain rate enhancement, with non-pharmaceutical adjustments and store structure optimization driving short-term performance improvements. Key companies include Yifeng Pharmacy (603939) and Dazhenglin (603233) [2]. Group 2: Home Medical Devices - The growth of home medical device companies is driven by increased product penetration and domestic production rates. Rapid growth is observed in products like Continuous Glucose Monitors (CGM) and sleep apnea machines, with leading domestic brands expanding internationally. Traditional categories like blood pressure monitors are increasingly focusing on the high-end market, with domestic brands steadily increasing market share. The combination of high domestic growth and new overseas markets is expected to contribute to sustained performance growth for home medical device companies. Key companies include Yuyue Medical (002223), Kefu Medical (301087), Sanofi Biological (300298), and Ruimaite (301367) [3]. Group 3: Innovative Drug Development - The collaboration for the international expansion of innovative drugs continues to deepen, with recent significant agreements between Shiyao Group and AstraZeneca, as well as Innovent Biologics and Eli Lilly. These collaborations highlight the growing recognition of China's innovative drug development capabilities by multinational pharmaceutical companies, showcasing the efficiency and cost advantages of Chinese innovative drugs [4]. Group 4: Investment Portfolio for 2026 - The investment portfolio for 2026 includes A-shares such as Mindray Medical (300760), United Imaging Healthcare, WuXi AppTec (603259), New Industry (300832), Meihua Medical (301363), Adebiotech (300685), Zhend Medical (603301), Yaokang Biological, Kingmed Diagnostics (603882), Aier Eye Hospital, Yuyue Medical, Yifeng Pharmacy, and Dazhenglin; H-shares include Kangfang Biologics, Kelun-Botai Biologics-B, Hutchison China MediTech, Kangnuo-B, Sanofi Biopharma, Gushengtang, and Aikang Medical [5].

Core Insights - The Yangtze River Delta Cold Chain and Food Innovation Industry Conference was held in Yangzhou, focusing on the integration and innovation of cold chain logistics and the food industry amid consumption upgrades and the digital economy [1][2] - The establishment of the Yangzhou New Food Industry Chain OPC Talent Innovation Community aims to address talent bottlenecks in the food industry and stimulate innovation [2][3] Group 1: Conference Highlights - The conference gathered over 300 industry representatives, experts, and business leaders to discuss future development paths and blueprints for the cold chain and food industry [1] - The Yangzhou New Food Concept Verification Center was inaugurated to accelerate the industrialization of new food technologies, creating a comprehensive innovation ecosystem [1] Group 2: OPC Talent Innovation Community - The OPC Talent Innovation Community is a strategic initiative by the Guangling District to enhance the local food industry by fostering a flexible and creative entrepreneurial environment [2] - The community will focus on nurturing one-person companies (OPCs) in areas such as food research and development, process design, and brand marketing, addressing gaps in the value chain [3] Group 3: Future Development Plans - The Guangling District Food Industry Park plans to leverage the OPC Talent Innovation Community to attract and incubate skilled professionals, providing comprehensive support services [3] - The initiative aims to create a virtuous cycle of talent aggregation, entrepreneurial innovation, and industrial upgrading, contributing to the innovative integration of the cold chain and food industry in the Yangtze River Delta [3]

Core Viewpoint - Shengyuan Environmental (300867) reported stable operations in its main business areas of waste incineration power generation and urban sewage treatment, with continuous optimization in operational quality and profitability, indicating a solid and improving fundamental outlook [1] Group 1: Business Operations - The company’s main business segments, waste incineration power generation and urban sewage treatment, are performing steadily [1] - Operational quality and profitability are continuously improving, reflecting a strong fundamental performance [1] Group 2: New Business Initiatives - The company is actively expanding into the health industry, focusing on taurine raw materials and their derivatives [1] - The taurine raw material project is set to commence production soon, which is expected to cultivate new growth drivers and long-term development momentum for the company [1] - Stakeholders are encouraged to pay attention to the relevant sections in the company's 2025 annual report for further insights [1]

Group 1 - Shenzhen Zhonghe Innovation Industry Investment Co., Ltd. has been established with a registered capital of 10 million RMB, and its legal representative is Ning Zixuan [1] - The shareholders of the company include Guangzhou Zhongxing Health Management Technology Partnership (Limited Partnership) with a 40% stake, Shenzhen Zhonghe Fund Management Co., Ltd. with a 40% stake, and Shenzhen Nanfly Low-altitude Technology Co., Ltd. with a 20% stake [1] - The company's business scope includes investment activities with self-owned funds, financing consulting services, non-financing guarantee services, enterprise headquarters management, and various technology-related services including artificial intelligence and Internet of Things [1] Group 2 - The company is classified under the national standard industry of scientific research and technical services, specifically in technology promotion and application services [1] - The registered address of the company is located at New Era Plaza (Phase II), No. 5 Taizi Road, Shuibay Community, Nanshan District, Shenzhen [1] - The company is structured as a limited liability company with an operating period until February 9, 2026, with no fixed term thereafter [1]

Group 1 - Shandong has the highest number of national-level strategic emerging industry clusters in China, totaling 7 [2] - The province aims to increase the number of large-scale high-tech enterprises to 18,000 this year, with the output value of large-scale high-tech industries accounting for approximately 57% of the total industrial output value [2] - Total R&D investment in Shandong reached 259.73 billion yuan, with an annual growth rate of 11.5%, exceeding the national average by 1 percentage point [3] Group 2 - During the 14th Five-Year Plan period, Shandong's technological development has significantly advanced, contributing to high-quality development and supporting the construction of a modern strong province [3] - The province has produced 150 significant innovation results and ranks among the top in the country for the number of national science and technology awards received [3] - The number of high-tech enterprises has increased by over 20,000 in five years, with the output value of large-scale high-tech industries rising to 55.7% of the total industrial output value, an increase of 10.6 percentage points over five years [3]