登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：603275 证券简称：众辰科技 公告编号：2025-061 上海众辰电子科技股份有限公司 关于召开2025年半年度业绩说明会 的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述或者重大遗漏，并对其内容 的真实性、准确性和完整性承担法律责任。 重要内容提示： 会议召开时间：2025年09月30日（星期二）09:00-10:00 会议召开地点：上海证券交易所上证路演中心（网址：https://roadshow.sseinfo.com/） 会议召开方式：上证路演中心网络互动 投资者可于2025年09月23日（星期二）至09月29日（星期一）16:00前登录上证路演中心网站首页点 击"提问预征集"栏目或通过公司邮箱xuwenjun@zoncn.cn进行提问。公司将在说明会上对投资者普遍关 注的问题进行回答。 上海众辰电子科技股份有限公司（以下简称"公司"）已于2025年8月26日发布公司2025年半年度报告， 为便于广大投资者更全面深入地了解公司2025年半年度经营成果、财务状况，公司计划于2025年09月30 日（星期二）09:0 ...

Group 1 - The company held its 41st meeting of the 12th Board of Directors on September 18, 2025, where all 7 attending directors voted in favor of the proposal to nominate a non-independent director candidate [1][3] - The board approved the proposal to convene the 7th extraordinary general meeting of shareholders in 2025, which will be held on October 9, 2025 [3][12] - The company received a resignation letter from director Wan Yong, who will continue to serve at Guocheng Holdings Group Co., Ltd. after resigning from all positions within the company [6][7] Group 2 - Zhu Shengli has been nominated as a candidate for a non-independent director position, pending approval at the upcoming extraordinary general meeting [7][10] - The board confirmed that the composition and number of directors will comply with the relevant laws and regulations after the election of the new director [8] - The extraordinary general meeting will allow both on-site and online voting, with specific voting times outlined for shareholders [12][14]

Core Insights - The average governance index for Chinese listed companies in 2025 is 64.94, showing a slight increase from 64.87 in 2024, indicating a steady improvement in governance quality [1][2][3] - Financial sector companies exhibit the highest governance levels, with an average index of 67.32, while the main board companies require further improvement [4][5][17] Governance Index Overview - The governance index has increased by 0.07 from 2024 to 2025, with improvements in shareholder governance, board governance, and stakeholder governance, while supervisory board governance, management governance, and information disclosure have declined [1][3][6] - The distribution of governance ratings shows that 84.43% of companies fall into the B, C, and D categories, with no companies rated AAA or AA [2][3] Industry and Sector Analysis - The governance index varies significantly across industries, with financial companies leading, followed by sectors like scientific research, accommodation, and manufacturing [4][5] - The governance index for private-controlled companies continues to outperform state-owned companies, with companies without actual controllers showing the best governance performance [4][5] Regional Governance Characteristics - Governance levels show a gradient improvement from coastal to inland regions, with 32 regions having an average index above 62.00, indicating a reduction in regional disparities [5] Detailed Dimension Analysis - Shareholder governance index increased from 69.42 to 69.73, driven by improvements in dividend continuity and protection of minority shareholders [7][8] - Board governance index rose to 65.26, reflecting better operational efficiency and structure [8] - Supervisory board governance index slightly decreased to 59.12, indicating a decline in the competency of supervisory board members [9] - Management governance index fell to 60.39, with a slight improvement in appointment systems but a decline in incentive mechanisms [9] - Information disclosure index slightly decreased to 66.19, although relevance and timeliness improved [10] - Stakeholder governance index increased to 69.70, despite a decrease in stakeholder participation [12] Recommendations for Improvement - Establish a mechanism for the audit committee to prevent governance risks during transitional periods [18][19] - Encourage the participation of actual controllers in governance while establishing accountability mechanisms [19][20] - Leverage digital tools to enhance governance efficiency and reduce costs [20][21] - Develop tailored governance guidelines for private-controlled companies to address recent declines in governance quality [20] - Promote differentiated governance standards based on industry characteristics [21] - Create a governance-oriented market value management system to enhance governance premiums [21] - Expand investor litigation channels to strengthen market oversight and protect shareholder rights [22] - Encourage institutional investors to actively participate in governance activities [22]

Core Points - Shenzhen Dehao Microfinance Co., Ltd. is involved in a civil dispute with Liang Guohao and several companies, including Shenzhen Xinhau Precision Technology Co., Ltd. and Zhuhai Xinhau Precision Components Co., Ltd. [1] - The Shenzhen Bao'an District People's Court will conduct the first online judicial auction of 3,276,000 shares of Xinhau Optoelectronics (stock code: 301051) held by Liang Guohao on the Taobao judicial auction platform on October 28, 2025 [1] Company Summary - The case involves multiple parties, including microfinance and precision technology companies, indicating potential implications for the financial and technology sectors [1] - The auction of Xinhau Optoelectronics shares may affect the stock's market performance and investor sentiment [1]

Group 1: Consumer Industry Trends - Hai Tian Wei Ye has increased its exposure through the popular food variety show "Yi Fan Feng Shen," launching online and offline promotional activities to prepare for the upcoming National Day and Mid-Autumn Festival consumption peak [2][5] - Many companies in the consumer sector are innovating their preparations for the holiday season, focusing on enhancing experiences and transforming engagement into revenue [2][8] - The food industry is seen as a frontier for new consumption growth, with companies like Hai Tian Wei Ye and Guangzhou Restaurant leveraging cultural connections to attract consumers [4][6] Group 2: Automotive Industry Insights - The automotive sector has benefited from policies promoting consumption, with initiatives like trade-in programs and subsidies effectively stimulating consumer demand [3] - SAIC Motor's new energy vehicle sales increased by over 40% year-on-year, showcasing the success of the dual focus on new energy and smart connectivity [3] - Companies like Great Wall Motors and Dongfeng Motor are also experiencing growth by meeting diverse consumer needs in the SUV and hybrid vehicle markets [3] Group 3: Cultural and Tourism Sector Developments - The film industry is a significant driver of new consumption, with the upcoming National Day film releases expected to attract considerable attention [7] - Cultural tourism companies are shifting from sightseeing to immersive experiences, enhancing consumer engagement through innovative activities [7][8] - The integration of commerce and tourism is emerging as a highlight in consumer trends, with companies exploring new models to meet experiential and interactive demands [8] Group 4: Overall Market Outlook - The continuous innovation in supply from various sectors, including automotive, food, and tourism, is aligning with real consumer needs, fostering diverse growth opportunities [8] - The combination of supportive policies and proactive corporate innovation is expected to enhance the resilience and vitality of the Chinese consumer market [8]

华为展出的超节点机柜"墙" ◎记者 时娜 柴刘斌 9月18日，华为全联接大会2025在上海开幕。会上，华为展出的一整面机柜"墙"吸引了与会人士争相合 影，这就是近期备受资本市场和产业界关注的昇腾384超节点。 今年的全联接大会上，华为宣布超节点再升级，"超节点集群"正式亮相，算力规模可达百万卡。这不仅 是华为自身算力版图的重要突破，也预示着全球AI算力基础设施进入一个全新的时代。 从超节点到超节点集群 当前，人工智能产业正以前所未有的速度迅猛发展。"模型技术持续突破，AI正快速地从内容生产走向 自主行动。推理爆发式增长，中国日均Token消耗量已经超过30万亿，Agentic AI正在从'被动工具'向'主 动代理'快速演进，逐步进入规模化应用。预计未来5年，80%的人类每天将与智能体互动，所有行业都 值得被AI重新定义。"华为董事、ICT BG CEO杨超斌在华为全联接大会2025的昇腾AI人工智能产业峰 会上表示。 其中，华为云基于Atlas 900超节点构建了CloudMatrix 384超节点。据华为云CTO张宇昕表示，随着大模 型训练和推理对算力需求的爆炸式增长，传统计算架构已难以支撑AI技术的代际跃 ...

Core Insights - The article highlights the rapid development of a multi-tiered insurance system in China, which includes basic medical insurance, "Hui Min Bao," and commercial health insurance, aimed at meeting diverse healthcare needs of the population [1][6] Group 1: Insurance Coverage and Participation - Over 1.3 billion people are covered by basic medical insurance in China, and "Hui Min Bao" has reached approximately 30 provincial-level administrative regions [1] - By 2025, "Hui Min Bao" participation is expected to exceed 6.45 million in Shanghai, with similar growth in other cities like Shenzhen and Beijing, where participation is projected to surpass 6.15 million and 4.34 million respectively [3] - As of March 2025, "Hui Min Bao" has accumulated compensation payments exceeding 2.2 billion yuan, while "Shenzhen Hui Min Bao" has compensated nearly 230,000 individuals [3] Group 2: Growth in Commercial Health Insurance - The health insurance sector achieved approximately 97.74 billion yuan in premium income in 2024, reflecting a year-on-year growth of about 8.2% [4] - Medical insurance has overtaken critical illness insurance in market share for the first time, indicating its role in supplementing basic medical insurance and covering high-value innovative drugs [4] - Pacific Health Insurance has served over 2 million customers since launching "Blue Medical Insurance" in 2022, with compensation amounts reaching 3.77 billion yuan in the first half of 2025, a 16% increase [4] Group 3: Challenges and Recommendations - Despite the progress, challenges such as insufficient coverage, data silos, and low penetration of commercial insurance remain [6] - Experts suggest breaking down data barriers and establishing secure sharing mechanisms to enhance product pricing and reduce costs [7] - Recommendations include integrating commercial health insurance with basic medical insurance for efficient claims processing and expanding coverage to include various demographics and innovative treatments [7]

◎记者 徐潇潇 近期，多家银行理财公司（下称"理财公司"）在指数型产品布局上动作频频，逐渐把指数型产品视为进 入权益类市场的重要工具。 多位受访人士表示，理财公司在权益投研方面基础薄弱，缺乏成熟体系，面临"缺规模"又"缺人才"的局 面，所以多数理财公司选择通过指数化投资，试图绕开个股研究的短板，在宏观策略研究的基础上以指 数介入，获取行业整体的Beta收益。 指数化投资热度上升 利率持续下行，传统固收类资产收益率逐步走低，理财公司正积极通过配置权益类及多资产类指数工具 增厚产品收益。 普益标准研究员刘思佳在接受上海证券报记者采访时表示，从资产配置策略来看，指数型理财产品一般 分为两种：一种是采用复制指数投资的非结构性产品。该类产品通过直接配置ETF、指数投资类的资管 产品或标的指数成分股来复制指数表现；另一种是通过配置挂钩特定指数的期权，间接投资指数的结构 性产品。该类产品多挂钩于中证1000等宽基指数、自研的全球配置型指数和特色主题指数。 权益投资"借船出海" 理财公司重视指数型理财产品，其背后既有政策端对理财公司参与权益市场的鼓励，也有理财公司自身 权益资产配置能力相对有限，而投资者风格偏稳健又追求超额收 ...

从"单向灌输"到"双向互动" 理财产品多样化、数字金融普及化、诈骗手段高科技化……随着金融环境日趋复杂，群众的金融决策难 问题愈加凸显。近年来，宁夏金融监管局探索"金融+"教育宣传跨界模式，融合文旅资源、联动基层部 门、紧扣地域特色，持续增强金融消费者权益保护教育宣传的穿透力，真正让群众对金融教育可感可 及。 "金融消保"真人秀表演，"文旅+消保"沉浸式体验金融知识游园会，大学生权益保护金融知识争霸 赛……日前，2025年宁夏金融教育宣传周活动正式启动。 "通过整合银行、保险、证券等多方资源，引导广大群众参与沉浸式学习、互动性强的活动，可有效普 及金融知识，切实提升金融素养和风险防范能力。"宁夏金融监管局消保处处长于小勇对上海证券报记 者说，通过不断推动金融知识普及从"说教式"向"体验式"、从"单一性"向"综合性"的转变，真正让金融 教育接地气、聚人气、润民心。 记者在此次宣传周集中宣教活动现场看到，宁夏辖区内53家银行保险机构都设置了各具特色的宣教区 域，颇有趣味性的形式和沉浸式的体验，吸引了很多人驻足观看、参与体验。 "我们专门打造了打击金融黑灰产专区，将金融知识与非遗文化相结合，通过非遗传承人做糖画、捏 ...

Core Viewpoint - The easing of external constraints on China's monetary policy is expected due to the Federal Reserve's interest rate cuts, which will provide more room for policy adjustments [1][2]. Group 1: Monetary Policy Environment - The Federal Reserve's interest rate cuts have led to a decline in the US dollar index, reducing pressure on the RMB exchange rate [1]. - Analysts suggest that the attractiveness of RMB assets is increasing, leading to more foreign capital inflows and higher demand for RMB, which supports its appreciation [1][2]. - The potential for further interest rate cuts by the Federal Reserve may continue to alleviate pressure on the China-US interest rate differential and the RMB exchange rate, allowing for a more accommodative monetary policy environment in China [1][2]. Group 2: Internal Constraints on Monetary Policy - Internal factors, such as maintaining necessary policy space and ensuring reasonable net interest margins, pose greater constraints on China's monetary policy compared to external factors [2]. - The net interest margin of commercial banks has fallen to a new low of 1.42%, which may limit the space for further interest rate cuts [2][3]. - The need to avoid excessive liquidity that could lead to inefficient allocation of financial resources is emphasized, suggesting a preference for targeted monetary policy measures [2]. Group 3: Future Outlook for Monetary Policy - There is still room for further interest rate cuts and reserve requirement ratio (RRR) reductions, as the macroeconomic environment remains challenging [4][5]. - Analysts predict that the People's Bank of China may lower the RRR by 0.25 to 0.5 percentage points in the third and fourth quarters to enhance liquidity [6]. - The coordination between fiscal and monetary policies is expected to strengthen, focusing on optimizing the structure of financial support to key sectors [6].