每经记者｜张宝莲 每经编辑｜段炼 魏官红 继去年底因涉嫌犯罪被采取刑事强制措施后，身家一度高达145亿元的"祥源系"掌门人俞发祥陷入新的麻烦。 2月26日晚间，祥源文旅（600576.SH）披露的一则公告，再度揭开这位百亿富豪的困境。公告显示，公司实际控制人俞发祥因金融借款担保合同纠纷， 其个人直接持有的公司全部144.36万股股份已被司法冻结，轮候冻结股份达到433.08万股，占其个人持股的比例高达300%。如此"超限"的轮候冻结比例， 在资本市场中较为罕见，或也揭示出俞发祥个人所面临的债务危机已相当严峻。 值得注意的是，2025年12月，祥源文旅、交建股份、海昌海洋公园等"祥源系"上市公司公告称，俞发祥因涉嫌犯罪被警方采取刑事强制措施。据媒体报 道，其被查与"祥源系"旗下公司发行的、可能逾百亿元的金融产品大规模逾期直接相关。从登上胡润百富榜到身陷囹圄，再到如今持股遭轮候冻结，俞发 祥和他的"祥源系"正面临前所未有的危机。 图片来源：祥源控股官网 尽管官方未直接披露具体案由，但据媒体报道，俞发祥被查与"祥源系"旗下公司相关金融产品大规模逾期兑付相关。据称，这些产品的总规模可能超过百 亿元，而俞发祥及其控制的 ...

| STRL Sterling Infrastructure | | | | --- | --- | --- | | 455,250 ↓ -4.470 -0.97% | | | | 489.000↑ 33.750 +7.41% | | 盘前价 02/26 04:19 美东 | | 三 7 24 华 S 9 日 ♥ 白 ♥ 白 ♥ 白 ♥ 白 ♥ 白 | | ● 快捷交易 | | 最高价 467.525 | 开盘价 463.070 | 成交量 91.71万 | | 最低价 445.010 | 昨收价 459.720 | 成交额 4.21亿 | | 平均价 459.310 | 市容率 48.53 | 总市值 139.85亿 (…) | | 振 幅 4.90% | 市盈率(静) 48.53 | 总股本 3071.94万 | | 换手率 3.07% | 市净率 12.616 | 流通值 135.97亿 | | 52周最高 470.000 | 委 比 84.05% | 流通股 2986.7万 | | 52周最低 96.340 | 量 比 1.61 | 色 主 1股 | | 历史最高 470.000 | 股息TTM -- ...

我问你一个问题：你每个月交的税、缴的社保、付的电费，最后都去哪了？ 别急着回答。因为答案可能会让你血压飙升——每年至少有万亿级别的财富，正在被一群人悄无声息地 从中国经济的肌体上撕下来，塞进自己的口袋。 万亿，什么概念？大约等于全国一年的军费，够给每个中国人发700多块钱，够建几十万间乡村卫生 室。 但这些钱，没有变成你的工资、你孩子的课桌、你父母的养老金。它们流向了你根本想象不到的地方。 今天，我把这四类"蛀虫"掰开了、揉碎了，给你讲清楚。 我不想一杆子打翻所有医生，绝大多数医护人员值得尊敬。但你不得不承认，医疗反腐揭开的盖子，让 所有人都倒吸一口凉气。 2023年，全国掀起史无前例的医疗反腐风暴，一年内超过230名医院院长、书记被查。云南普洱一个市 级医院的院长，受贿金额超过3000万——一个地级市医院的院长啊，他的年薪才多少？ 但最让人愤怒的不是贪腐金额，而是这些钱从哪来。 每一台被抬高价格的医疗设备，每一盒经过层层加价的药品，每一次不必要的检查，最后的账单都落在 了谁头上？是你，是我，是那些在医院走廊里攥着借来的钱、排了一天队的普通患者。 你以为金融是高大上的行业？说真的，某些角落比你想象中肮脏一百倍 ...

Centuri (NYSE:CTRI) Q4 2025 Earnings call February 25, 2026 10:00 AM ET Company ParticipantsChris Brown - President and CEOChris Ellinghaus - Managing DirectorGregory Izenstark - Chief Financial OfficerJoseph O'Dea - Managing DirectorManish Somaiya - Managing Director and Senior EquityNate Tetlow - Vice President of Investor RelationsConference Call ParticipantsAvi Jaroslawicz - Director and Equity Research AnalystJustin Hauke - Senior Research AnalystSangita Jain - Senior Equity Research AnalystSherif El-S ...

一季度，佛山计划新开工重大项目101个（含省、市重点项目），总投资873.09亿元，年度计划投资 158.04亿元，主要呈现出"快、新、暖、稳"的鲜明特征。 2026年2月25日，正月初九上午，佛山市2026年新春重大项目动工现场会暨大湾区（南海）智能电力装 备创新谷启动仪式，在南海区九江镇举行，以"开局即决战、起步即冲刺"的昂扬姿态，吹响全年高质量 发展的冲锋号。 数据显示，今年佛山全市共谋划安排省、市重点建设正式项目628项，总投资达8728.09亿元，年度计划 投资1206.12亿元。其中，一季度，佛山计划新开工重大项目101个（含省、市重点项目），总投资 873.09亿元，年度计划投资158.04亿元。 值得关注的是，2026年，佛山"环两江"先行区建设进入"全面铺开" 的关键阶段，今年先行区重点项目 数量和投资规模实现大幅增长，安排重点项目287个，同比增长61%，总投资3357.5亿元，同比增长 87%，年度计划投资471.3亿元。 全年省、市重点建设项目总投资达8728.09亿元 重大项目是推动高质量发展的"压舱石"，是再造一个新佛山的"动力源"，作为"十五五"开局之年的关键 抓手，佛山2026 ...

延安西路站周边的景观品质也将进一步提升。面积6.8公顷的天山公园是长宁区为数不多的具有大 面积湖泊的公园之一，于2025年底完成了公园南侧融合开放改造。据介绍，以往受限于延安西路站和周 边树木的遮挡，无法看到天山公园的全貌。而今，通过建设"凯旋之桥"，人们可在桥上俯瞰公园全景， 品味城市更新带来的城区面貌提升。 面积约4.3公顷的海粟公园则是一座山势起伏的公园绿地，呈现西高东低的走势，这同样使得绿地 的整体面貌无法完整呈现。"凯旋之桥"充分利用海粟公园原有地形，依"山"而建，将原先封闭的空间充 分释放。天山公园的湖光与海粟公园的山色融为一体，景观效应进一步凸显。 此外，由于凯旋路在延安西路站的东西两侧，对站点形成了明显的"隔绝效应"，行人进出站点往往 要穿越市政道路，人流与机动车和非机动车形成了一定的对冲，存在安全隐患。"凯旋之桥"的建设一方 面缩短了出站后人们的步行距离，另一方面也提供了更加安全的步行路径，区域慢行系统的布局将更加 完善。根据项目进展，预计今年年中，"凯旋之桥"将建成亮相。 精细化管理的理念也融入了"凯旋之桥"的建设。项目的环形步道、栏杆、地面铺装以及无障碍电梯 等细节都经过精心设计。接下来 ...

Core Viewpoint - The Haibei Tibetan Autonomous Prefecture is set to implement 26 livelihood projects with a total investment of 1.097 billion yuan in 2023, focusing on improving public services and living standards for residents [1][2]. Group 1: Livelihood Projects - The prefecture will focus on ten areas including education, healthcare, urban renewal, and rural revitalization, aiming to enhance the quality of public services and resources at the grassroots level [1]. - Specific projects include organizing over 30 employment service activities, ensuring the creation of more than 2,000 urban jobs, and facilitating the transfer of 45,000 rural laborers for employment [1]. - The renovation of four primary and secondary schools in Haiyan County will be carried out to improve fire safety standards [1]. Group 2: Infrastructure Development - A total of 39.81 kilometers of drainage networks and 17.12 kilometers of water supply networks will be constructed [2]. - Nine indoor sports venues will be built across nine townships, along with outdoor sports facilities, benefiting over 220,000 residents [2]. - Key infrastructure projects will include rural roads and safe drinking water initiatives, with 388.34 kilometers of provincial and rural roads being newly constructed or renovated [2]. Group 3: Social Services - A comprehensive care service system for severely disabled individuals will be established, aiming to provide rehabilitation services to over 90% of disabled persons, including children [2]. - The renovation of 31 old urban residential communities will involve 1,155 households, enhancing living conditions [1]. - Three rural elderly care service projects will be implemented, benefiting over 1,000 elderly individuals by providing meal services close to their homes [1].

Core Viewpoint - Current infrastructure investment is becoming a crucial support for the economy, with fiscal policies continuously strengthening, leading to a configuration window driven by infrastructure recovery in the building materials sector [1] Group 1: Infrastructure Investment Dynamics - The "14th Five-Year Plan" is entering its final year, accelerating the implementation of major engineering projects, which is providing solid support for the improvement of the industry fundamentals through the demand pull of infrastructure [1] - Since the second half of 2024, active fiscal policies have significantly increased, with the pace of special bond issuance accelerating and the launch of ultra-long special government bonds injecting ample funds into infrastructure investment [1] - Infrastructure investment has a clear policy orientation and planning, unlike the endogenous fluctuations of real estate investment, with 2025 being a key year for the transition between the "14th" and "15th" Five-Year Plans [1][4] Group 2: Investment Trends and Performance - Despite a year-on-year decline in cumulative infrastructure construction investment to -1.48% in December, the cumulative proportion of infrastructure investment remained high at 50.49% in December 2025, reflecting its significant position in fixed asset investment [1][4] - Key areas for current infrastructure investment include urban agglomerations, metropolitan areas, and the connectivity of infrastructure along the "Belt and Road" [4] - Major infrastructure projects are expected to drive demand for cement, pipes, waterproof materials, and other building materials, with a focus on water conservancy and disaster prevention projects [4][5] Group 3: Building Materials Sector Outlook - The building materials industry is currently in a low operating state after inventory destocking, and the concentrated release of infrastructure demand is expected to trigger price elasticity [5] - The profitability transmission from infrastructure recovery is anticipated to drive the development of the building materials sector, with a notable improvement in gross profit margins due to supply-side discipline and cost pressure relief [6] - The building materials sector is characterized by "valuation repair + profit improvement," with the risk of a cliff-like decline in demand eliminated by infrastructure support, leading to a systematic uplift in valuation [8] Group 4: Investment Vehicles and Strategies - The building materials ETF (159745) tracks the CSI All-Share Building Materials Index, covering leading enterprises across the entire industry chain, providing an efficient tool for investors to layout in the building materials sector [8][9] - The top ten holdings in the ETF reflect a high concentration in leading companies across various segments of the building materials industry, accounting for over 60% of the total holdings [9] - The building materials sector is highlighted as a core cyclical investment, with low valuations and high dividends, making it attractive for investors during market shifts towards cyclical stocks [12]

Core Viewpoint - The article emphasizes the necessity of upgrading urban infrastructure to achieve high-quality development, focusing on the integration of green practices and sustainable living environments [1][3]. Group 1: Infrastructure Upgrade - Urban infrastructure in China faces challenges such as late initiation, high costs, and slow updates, necessitating a shift towards green and innovative upgrades to support sustainable urban development [1]. - Cities must adopt a systematic approach to balance hardware upgrades, software updates, and institutional guarantees, ensuring that infrastructure improvements meet ecological and community needs [1]. Group 2: Software Updates - Unlike large-scale hardware renovations, software upgrades are flexible and can enhance the functionality of existing infrastructure, promoting refined management of urban ecosystems through digital means [2]. - For instance, Sichuan Tianfu New Area has implemented standardized information service platforms alongside green facilities, improving operational efficiency and reducing long-term maintenance costs [2]. Group 3: Institutional Support - Effective institutional design is crucial for ensuring that infrastructure is not only built well but also utilized effectively, encouraging social capital participation in green upgrades [3]. - Mechanisms such as tax incentives for companies investing in green infrastructure can alleviate financial pressures, while initiatives like personal carbon accounts can incentivize public participation in low-carbon behaviors [3]. - The article highlights that green development is a key aspect of China's modernization, urging localities to explore effective practices for low-carbon infrastructure transformation [3].

Group 1 - The construction project for the Changsha Overseas Returnee Town consumption aggregation area, with a total investment of 989 million yuan, has entered the preparation stage, marking a significant development for the region [2] - The project is expected to be completed and put into operation by 2027, featuring a comprehensive indoor venue with 18,000 seats and a total construction area of approximately 75,000 square meters [2] - The venue will serve as a cultural and sports center, integrating performances, culture, sports, leisure, exhibitions, and events, and will be a focal point for the 16th National Games in 2029 [2] Group 2 - The Dazeh Lake area is positioned as "Xiangjiang Future City," part of the "Ten Major Urban Areas" outlined in the Changsha 2035 Land Spatial Planning, covering an area of approximately 10,470 acres [3] - The area aims to become a key hub for Changsha's global R&D center, focusing on an "ecology-first, industry-city integration, and balanced living and working" development model [3] - The establishment of the Overseas Returnee Town has attracted 16 high-end projects, including the headquarters of China Communications Construction Company and Aoyou Dairy, contributing to the formation of an international new city [3]