前海开源基金首席经济学家杨德龙对《证券日报》记者表示，对于公募机构而言，布局QDII基金业务 不仅是顺应市场需求、把握投资机遇的战略举措，也有助于其拓展全球资产管理业务边界、提升投研等 综合竞争力。 近年来，中国资本市场不断推进双向开放进程，吸引更多基金公司开始布局QDII业务。截至8月1日， 正在申请QDII基金业务资格的基金公司数量已达11家。这一数据反映出公募机构对QDII基金业务的参 与热情。 "公募机构积极布局QDII业务，也离不开QDII基金近年来整体的亮眼表现。业绩持续向好，极大地激发 了投资者跨市场配置资产的热情。"陕西巨丰投资资讯有限责任公司高级投资顾问陈宇恒在接受《证券 日报》记者采访时表示。 在全球化资产配置逐渐成为投资者关注焦点的当下，公募机构对QDII（合格境内机构投资者）业务布 局的热情不断高涨。 日前，中国证监会披露的公开信息显示，8月1日，兴银基金管理有限责任公司提交申请QDII业务资格 的相关申报材料被接收。 这是年内第4家新布局QDII业务的基金管理公司。此前，民生加银基金管理有限公司、国联安基金管理 有限公司、鑫元基金管理有限公司也已先后提交申报材料，加入了布局QDII业 ...

Core Insights - The development of tendon ropes, a key component of cable-driven robots, is accelerating among listed companies and startups to meet future demands in robotics [1][2] Group 1: Industry Overview - Cable-driven robots are characterized by their lightweight, flexibility, high safety performance, energy efficiency, and strong biomimetic capabilities [1] - Current prototypes of cable-driven robots have been developed by various companies, including a university's octopus-like robotic arm capable of handling fragile and irregular objects [1] Group 2: Company Developments - Jiangsu Henghui Security Co., Ltd. is actively developing ultra-high molecular weight polyethylene fibers for use in robotic tendons, having completed multiple rounds of sample testing with leading robotics firms [2] - Shandong Daye Co., Ltd. is focusing on the development of metal tendons for cable-driven robots, having received small batch orders based on their research in high-performance steel wire [2] - Shandong Nanshan Zhishang Technology Co., Ltd. is producing ultra-high molecular weight polyethylene fibers with properties suitable for robotics, and is in the process of sending samples to various downstream robotics companies [2] Group 3: Material Innovations - Some companies are exploring carbon fiber materials for tendon development due to their superior tensile strength, corrosion resistance, and fatigue performance compared to metals and polymers [3]

Core Viewpoint - Beijing's recent policy adjustments aim to optimize real estate regulations and enhance housing loan support for residents, particularly through increased housing provident fund loan limits and reduced down payment requirements [1][2]. Group 1: Policy Adjustments - The new policy allows individuals without housing in Beijing and without previous provident fund loans to access first-home loan benefits [1]. - For second-home purchases, the maximum loan amount is set at 1 million yuan, with a minimum down payment of 30% [1]. - Borrowers can now obtain 150,000 yuan for each year of provident fund contributions, with a minimum calculation based on one full year of contributions [1]. Group 2: Impact on Borrowers - The new policy increases the loan amount available to borrowers, allowing for a potential increase of at least 250,000 yuan in total loan capacity [2]. - The down payment ratio for first-time homebuyers is reduced from 30%-35% to 20%, and the loan interest rate decreases from 3.075% to 2.6%, significantly lowering the cost of homeownership [2]. - For a 2 million yuan loan over 30 years, the interest savings amount to 182,000 yuan, with monthly repayments reduced by 506 yuan [2]. Group 3: Broader Market Implications - Over 30 cities, including Shenzhen and Hangzhou, have implemented similar policies to allow the use of provident fund withdrawals for down payments, indicating a trend towards easing housing purchase barriers [3]. - The adjustments are expected to enhance the purchasing power of homebuyers and may lead to further optimizations in provident fund policies, such as supporting "mortgage transfer" and increasing talent support [3].

远景能源ABS项目由财通证券（601108）担任财务顾问，财通资管亦充分发挥在清洁能源基础设施领域 的专业优势和丰富经验，成立专门工作组全面参与该项目，深入开展研究论证及协调推动工作。 以持有型不动产ABS等多元化金融工具为抓手，财通资管还将在投融联动领域加深探索：一方面，深化 与清洁能源产业的合作，通过创新金融产品和完善全生命周期融资服务体系，在践行绿色金融方面积极 作为，推动我国能源结构绿色转型；另一方面，继续发挥在消费金融、融资租赁等领域的传统优势，重 点关注科技创新、乡村振兴等创新品种，发挥专业定价和综合服务能力，为经济高质量发展贡献金融力 量。 本报讯(记者周尚伃)近日，全国首单清洁能源持有型不动产ABS"泰康资产-财通-远景新能源持有型不动 产资产支持专项计划(碳中和)"(以下简称"远景能源ABS")在上海证券交易所举行挂牌仪式。 作为市场首单清洁能源类持有型不动产资产支持证券，远景能源ABS的成功发行，为有绿色电力和ESG 需求的企业提供了创新解决方案：该项目有效破解了清洁能源长周期融资困境，证实了金融工具对能源 转型的杠杆价值；通过构建多元资本协同生态，为存量新能源资产提供了标准化流动性解决方 ...

本报记者 杨笑寒 近日，中保保险资产登记交易系统有限公司（以下简称"中保登"）披露了人保资本保险资产管理有限公司、百年保险资产 管理有限责任公司、工银安盛资产管理有限公司等保险资管机构登记的4只资产支持计划情况，合计登记规模达130亿元。资产 支持计划也被业内称为"保险版ABS"。 今年以来，保险资管机构登记资产支持计划规模持续高速增长。据《证券日报》记者统计，今年前7个月，中保登共登记 资产支持计划50只，登记规模合计2218.77亿元，同比增长50.4%。 受访专家表示，在利率中枢持续下行的背景下，资产支持计划基础资产范围广、产品结构灵活、还款现金流明确、与股债 相关性较低，因此受到险资青睐。 7月份产品登记规模大增 资产支持计划业务是指保险资管机构等专业管理机构作为受托人设立支持计划，以基础资产产生的现金流为偿付支持，面 向保险机构等合格投资者发行受益凭证的业务活动。 广东凯利资本管理有限公司总裁张令佳对《证券日报》记者表示，资产支持计划所登记的资产能够带来长期稳定现金流， 这些资产往往具有非周期性特点（如公共服务），与股债相关性低，在利率下降时期可为险资提供缓冲。 在政策面上，今年4月份，国家金融监督 ...

8月份以来，时代中国境外债务重组获批，花样年控股集团有限公司宣布与主要美元债权人就基础商务 条款达成一致。公开信息显示，7月份至今，龙光集团、世茂集团等多家出险房企相继宣布境外债务重 组生效，亦有远洋集团等十余家房企公布新的债务解决方案。另据中指研究院监测，2025年房地产企业 海外债尚有一千多亿元，规模较高峰期明显下滑，风险逐渐缓释。 从债权人角度而言，往往诉求各异，有的担忧房企获得的现金用途难以平衡保交楼任务与债务重组，有 的坚持短期套现和高清偿率，有的则倾向于长期兑付方案。从已有债务化解案例来看，"长短兑付"组合 方案，尽量满足不同债权人诉求，相对通过率较高。其中，有四个化债工具的实施细节值得关注，一是 有现金偿付选项，不过最终现金偿还的比例多数不超过20%；二是重组方案涉及的偿债资产评估值要较 为合理；三是留债展期时间、利息以及还本方式要协商一致；四是方案中涉及债转股的，要设置股权收 益分成条款，也要谨慎确定转股价格和比例，充分考虑对股权结构和公司治理的影响。 总体而言，房企一般要遵循"短端削债、中端转股、长端保本降息"框架，允许债权人在保本诉求、即时 受偿诉求、退出诉求和共享收益诉求间做出最符合自身 ...

2025世界机器人大会正在北京亦创国际会展中心如火如荼地举行。展馆内人流如潮，参观者摩肩接踵， 各大企业展台前挤满了来自全球的客商、投资人和技术专家。 这场科技盛会不仅展现了机器人技术的最新突破，更显现出行业发展的重要趋势，机器人正向复合式、 AI具身化、场景化加速演进。同时，中国机器人产业链"出海"进入新阶段。 向"全能型"机器人进化 "今年展位紧张，公司要订到去年的展出面积非常难，行业的火爆程度可见一斑。"上海清宝引擎机器人 有限公司（以下简称"清宝机器人"）董事长王磊在大会上向《证券日报》记者表示。 与往届相比，今年大会上的机器人除了可以完成打拳击、跳舞、踢足球等更多高难度动作之外，还呈现 出多种形态与技术的复合发展趋势，可以在多场景应用、具有协作能力的"全能型"机器人成为主角。传 统分类界限被彻底打破，工业、服务、特种机器人加速融合，具备多任务处理能力的复合式解决方案大 放异彩。机器人已经从"各种花式整活"真正变为"真干活"。 专注于研发仿人机器人的清宝机器人，今年也在应用于多场景的复合式机器人方面持续发力。据了解， 公司研发的人形机器人已经在文旅、安保、直播、教育等多个领域落地，同时公司还正在积极布 ...

Core Viewpoint - The traditional supermarket industry is under significant pressure for transformation, with many companies exploring quality retail as a key strategy for upgrading and improving sales performance [1][4]. Group 1: Industry Performance and Trends - As of August 10, 2023, four listed companies in the A-share supermarket sector have disclosed earnings forecasts, with one company expecting a net profit increase of 50% to 100%, another anticipating a return to profitability, while two others are projecting losses [1]. - According to the China Chain Store & Franchise Association, by the first half of 2025, chain supermarkets will continue to face substantial development pressures, with less than half of the supermarkets achieving year-on-year sales growth [1][3]. - A survey indicated that 75% of supermarkets attempted transformation in 2024, with 75% of those reporting varying degrees of sales growth [3]. Group 2: Company-Specific Developments - Yonghui Supermarket has initiated a strategic transformation focused on "quality retail," with significant upgrades to store environments and product offerings, including the removal of over 3,900 existing products and the introduction of 1,201 high-quality items [2]. - As of now, Yonghui has completed upgrades in over 150 stores and aims to reach 200 by the end of September 2023, emphasizing high quality and diverse product offerings to meet consumer demands [2]. - Despite facing challenges, including a projected net loss of 240 million yuan for the first half of 2025 due to extensive store renovations, Yonghui remains committed to its reform efforts and plans to raise up to 3.992 billion yuan for further store upgrades [5]. Group 3: Market Dynamics and Challenges - The retail market in China is characterized by significant scale and a multitude of operators, leading to imbalances and intense competition, necessitating optimization and adjustment within the industry [4]. - The shift towards quality retail is seen as both a challenge and a necessary evolution for traditional supermarkets to enhance profitability and brand influence in a competitive landscape [4].

Core Viewpoint - Recent announcements from the State Administration for Market Regulation highlight multiple vehicle recalls by automakers including Ferrari, GAC Toyota, FAW Toyota, BMW, and Stellantis due to safety hazards, emphasizing the importance of China's vehicle defect recall mechanism in protecting consumer rights and ensuring road safety [1][5][7] Group 1: Recall Details - BMW's recall involves over 230,000 vehicles, focusing on electrical safety and high-voltage system risks, with issues stemming from improperly manufactured starter generator connectors that could lead to engine stalling or fire [2] - GAC Toyota's recall includes over 90,000 vehicles, with issues related to instrument panel control program settings causing blackouts and insufficient strength in spiral springs due to improper heat treatment during manufacturing [3] - FAW Toyota's recall affects over 96,000 vehicles, addressing similar instrument panel program issues, with solutions involving program upgrades and inspections [3] - Stellantis is recalling 3,339 imported vehicles due to safety-related issues with the air conditioning system, while Ferrari is recalling 381 imported Purosangue vehicles due to potential short circuits in the fuse box [4] Group 2: Recall Mechanism and Communication - The recent recalls reflect the effective operation of China's vehicle defect recall system, supported by regulations that define defective products, recall procedures, and corporate responsibilities [5] - Automakers have demonstrated prompt responses and targeted solutions, offering free services such as part replacements and software upgrades to minimize consumer costs and ensure safety [5][6] - Effective communication channels are crucial for the success of recalls, with automakers notifying affected owners directly and providing platforms for information queries, enhancing transparency and consumer awareness [6]

2025年上市公司现金分红榜单以现金分红客观数据为基础，综合考量多维因素，最终形成近三年现金分 红总额榜单、近五年股利支付率榜单、近三年股息率榜单，每个榜单100家公司。 业内人士表示，与一般榜单不同的是，中上协的分红榜单更注重对公司3年至5年分红情况的评价，中长 期评价有助于引导上市公司增强分红的稳定性和可预期性，也有助于企业在一定期限内更合理安排分 红。榜单既关注分红的绝对额，也关注投资者关心的股利支付率和股息率，让愿意与投资者分享成长红 利的中小企业也有上榜机会。 中国人民大学财政金融学院教授郑志刚在接受《证券日报》记者采访时表示，中上协推出的榜单，从不 同维度客观评价了上市公司实际发放的股利，关注股利发放的持续性和稳定性，每个榜单100家企业， 相较于A股公司总数来看体量并不大，对重视红利投资的投资者具有一定指引作用。 8月8日，为引导上市公司树立回报投资者的理念，增强分红意识，中国上市公司协会（以下简称"中上 协"）结合现金分红规则要求，编制发布2025年上市公司现金分红榜单。 自2020年以来，中上协已经连续多年发布现金分红榜单。"现金分红榜单通过多维度、长周期机制引导 市场建立可持续分红文化。" ...