[Shanghai Huangpu: Assets that are in line with the regional key industry direction and meet the injection conditions will be injected into district-owned enterprises and listed companies to improve operational efficiency.] On September 1, the Shanghai Huangpu District People's Government Office issued the "15th Five-Year Plan for the Reform and Development of State-owned Assets and State-owned Enterprises in Huangpu District". It pointed out that the development quality of listed companies should be improved. Support listed companies in optimizing their functional layout and enhancing their core competitiveness. Lao Fengxiang Co., Ltd. is encouraged to consolidate its industry leading advantages, enhance its brand influence, industrial integration capabilities and value creation levels, and build a benchmark enterprise in the gold and jewelry industry. Encourage New World Co., Ltd. and Yimin Co., Ltd. to adapt to new consumption trends, promote brand remodeling and business format optimization, and enhance the development level of their core businesses. Support enterprises to use capital market refinancing tools in accordance with the law and regulations to strengthen and supplement the chain according to development needs. Guide listed companies to improve working mechanisms such as standardized governance, information disclosure, investor relations management, and ESG construction, improve market value management performance evaluation systems, and continue to improve operating quality, governance levels, and capital market image. Continue to revitalize existing assets. Strengthen the functions of the state-owned assets management platform, improve asset operation and professional disposal capabilities, and gradually establish an asset "receiving-activation-injection" model. For assets that are in line with the regional key industry direction and meet the injection conditions, we will improve operational efficiency by injecting into regional enterprises, listed companies, etc., and open up channels for assets, funds, and capital. Strengthen cooperation with professional institutions and use methods such as acquisition and disposal of non-performing assets, substantive restructuring, and market-based debt-for-equity swaps in accordance with laws and regulations to tap the value of idle and inefficient assets. Encourage qualified district-affiliated enterprises to effectively revitalize their stocks through asset securitization and other methods, study the implementation path of REITs with commercial complexes, industrial parks, affordable rental housing and other infrastructure as underlying assets, and continue to improve the level of state-owned capital securitization.