Group 1: Capital Market Development - Qingdao's capital market has shown resilience and vitality, contributing significantly to regional economic development during the 14th Five-Year Plan period [1] - The number of listed companies in Qingdao increased by 33 to a total of 86, marking a 46% growth compared to the end of the 13th Five-Year Plan [2] - The direct financing scale reached a new high, with over 600 billion yuan raised through various capital market instruments [6] Group 2: Manufacturing Sector Growth - The total market value of listed companies in Qingdao has steadily increased, with the securities rate rising from 52% to 65% [4] - In 2024, the operating revenue of listed companies reached 649.1 billion yuan, and net profit was 45 billion yuan, representing growth of 50% and 54% respectively compared to 2020 [4] - The manufacturing sector dominates, with 47 out of 65 listed companies operating in this field, covering 18 sub-sectors [4] Group 3: Innovation and Financing - R&D spending by listed companies doubled from 10.2 billion yuan to 21.7 billion yuan over five years [6] - The issuance of innovative bonds, including technology innovation bonds, reached a total of 13.9 billion yuan, supporting the development of tech enterprises [6] - The total financing through various capital market channels exceeded 600 billion yuan, a growth of over 70% compared to the previous five-year period [6] Group 4: Investor Returns - Listed companies in Qingdao distributed over 70 billion yuan in dividends, doubling the amount from the previous five-year period [8] - The number of companies paying dividends reached a historical high in mid-2025, with total amounts nearing 4.5 billion yuan, 2.5 times that of the previous year [8] - Share buybacks and loan policies have been implemented, benefiting 13 listed companies [8] Group 5: Wealth Management and Financial Services - The wealth management scale in Qingdao's securities, fund, and futures industry surpassed 1.6 trillion yuan, more than doubling since the end of the 13th Five-Year Plan [10] - The establishment of new financial institutions, including the first new futures company in over 20 years, has enhanced the financial service system [9] - The number of private equity fund managers exceeded 300, with a management scale of over 220 billion yuan, ranking highly among provinces [10]

东兴基金管理有限公司已于2025年12月25日发布了《东兴基金管理有限公司关于以通讯方式召开东兴宸瑞量化混 合型证券投资基金基金份额持有人大会的公告》。为了使本次基金份额持有人大会顺利召开，现发布关于召开本 次会议的第一次提示性公告。 一、召开会议基本情况 根据《中华人民共和国证券投资基金法》、《公开募集证券投资基金运作管理办法》等法律法规的规定和《东兴 宸瑞量化混合型证券投资基金基金合同》（以下简称"《基金合同》"或"基金合同"）的有关约定，东兴宸瑞量化混 合型证券投资基金（以下简称"本基金"）的基金管理人东兴基金管理有限公司经与基金托管人浙商银行股份有限 公司（以下简称"基金托管人"）协商一致，决定以通讯方式召开本基金的基金份额持有人大会审议《关于持续运 作东兴宸瑞量化混合型证券投资基金的议案》，会议的具体安排如下： 1、会议召开方式：通讯方式。 2、表决票收取时间：自2025年12月31日起，至2026年2月2日17:00止（投票表决时间以本次大会召集人指定的表决 票收件人收到表决票时间为准）。 3、会议计票日：2026年2月4日 4、纸质表决票的提交 可通过专人送交或邮寄方式送达如下地点： 请在信封表 ...

Core Viewpoint - The article discusses significant developments in the financial market, highlighting trends and potential investment opportunities in various sectors [4] Group 1: Market Trends - The financial market has shown resilience despite economic uncertainties, with key indices reflecting a steady upward trend [4] - Investment in technology and renewable energy sectors is gaining momentum, driven by increased consumer demand and government incentives [4] Group 2: Company Performance - Several companies reported strong quarterly earnings, surpassing analysts' expectations, which has positively influenced their stock prices [4] - Mergers and acquisitions activity is on the rise, indicating a consolidation trend within the industry, which may lead to enhanced competitive advantages for the involved companies [4]

Core Viewpoint - Qingdao's capital market has shown resilience and vitality during the 14th Five-Year Plan period, contributing significantly to the high-quality development of the regional economy, with expectations to continue this trend into the 15th Five-Year Plan period [1] Group 1: Capital Market Development - Qingdao has seen an increase of 33 companies listed domestically and internationally over the past five years, bringing the total to 86, a 46% increase compared to the end of the 13th Five-Year Plan [2] - The number of domestic listed companies rose by 23 to 65, marking a 48% increase, positioning Qingdao third among northern cities, following Beijing and Tianjin [2] - The capital market ecosystem in Qingdao is continuously optimizing, with 1 company under review by the Beijing Stock Exchange and another by the Shenzhen Stock Exchange, alongside 25 companies in the counseling and filing stage [2] Group 2: Economic Impact - The total market value of Qingdao's domestic listed companies has steadily increased, with the securitization rate rising from 52% to 65%, an increase of 13 percentage points [4] - In 2024, the total revenue of Qingdao's domestic listed companies reached 649.1 billion yuan, and net profit was 45 billion yuan, representing growth of 50% and 54% respectively compared to 2020 [4] - In the first three quarters of 2025, revenue exceeded 500 billion yuan, with a year-on-year growth of 6.07%, surpassing the national average of 1.36% [4] Group 3: Industry Structure and Innovation - Qingdao's 65 domestic listed companies span 12 industry categories, with manufacturing being the dominant sector, comprising 47 companies across 18 sub-sectors [4] - There were 139 mergers and acquisitions in the past five years, a 72% increase from the 13th Five-Year Plan period, enhancing the industrial chain [4] - R&D expenditure for Qingdao's listed companies doubled from 10.2 billion yuan to 21.7 billion yuan over five years, reflecting a strong focus on technological innovation [6] Group 4: Global Expansion - From 2021 to mid-2025, overseas business revenue for Qingdao's listed companies reached 960.6 billion yuan, a 58% increase compared to the 13th Five-Year Plan period, with overseas revenue accounting for 36% of total revenue [5] Group 5: Investor Returns - Over the past five years, Qingdao's listed companies distributed over 70 billion yuan in dividends, doubling the amount from the 13th Five-Year Plan period [8] - The number of companies distributing dividends and the total amount reached historical highs in mid-2025, totaling nearly 4.5 billion yuan, 2.5 times that of the previous year [8] Group 6: Wealth Management and Financial Services - Qingdao's wealth management scale in the securities, fund, and futures sectors surpassed 1.6 trillion yuan, more than doubling since the end of the 13th Five-Year Plan [10] - The establishment of new financial institutions, including the first new futures company in over 20 years, has enhanced the financial service system in Qingdao [9]

近期，北京光和谦成科技有限责任公司（下称"光和谦成"）注册成立，中国光伏行业协会确认其就是酝 酿已久的"多晶硅产能整合收购平台"。这一由相关主管部门联合指导、多家龙头骨干企业共同发起的产 业治理创新举措，被业内视为破解光伏"内卷式"恶性竞争的关键行动之一。 收储平台在2025年末的成立，为光伏行业自律及"反内卷"画上了一个阶段性句号。但是，行业仍然面临 诸多难题，一方面，明年国内光伏新增需求预计将出现近年来首度下滑；另一方面，硅料价格的率先上 涨能否带动产业链下游环节价格回升仍存不确定性。在这一不确定的背景下，随着银浆等辅材成本飙 升，下游电池、组件环节扭亏进程也将被推后。 多晶硅产能目标降至150万吨 根据光伏协会的介绍，光和谦成所代表的收储平台拟采取"两条腿走路"的模式，实行"承债式收购+弹性 封存压产能"的双轨运行模式。其中，在金融纾困层面，该平台承接数百亿元级潜在债务，可帮助化解 银行与供应商危机，推动价格回归合理区间，恢复全产业链"造血"功能。 隆众资讯分析师高玲向记者表示，此前外界推测收储平台可能以类似国家大宗商品储备的强干预模式出 现，通过巨额资金进行实质性采购，以快速消化社会库存、直接托举市场 ...

| 2025年商业银行主要监管指标一览(单位: 万亿元) | | --- | | 指标 | 2024年 | 2025年 | 2025年 | 2025年 | | --- | --- | --- | --- | --- | | | 12月末 | 3月末 | 6月末 | 9月末 | | 总资产(法人口径) | 380.52 | 394.29 | 402.89 | 409.63 | | 其中:国有大行 | 190.26 | 198.49 | 204.22 | 208.15 | | 国有大行总资产占比 | 50.00% | 50.34% | 50.69% | 50.81% | | 不良贷款占比 | 1.50% | 1.51% | 1.49% | 1.52% | | 拨备覆盖率 | 211.19% | 208.13% | 211.97% 207.15% | | | 核心一级资本充足率 | 11% | 10.70% | 10.93% | 10.87% | 这一年，经济周期深刻影响着每一个经济体、每一个行业。银行业犹如在一片并不平静的海域上航行的巨舰，汹涌的浪花不断拍打着船舷—— 有利率下行带来的息差之困，有风险暴露拉响的警 ...

Group 1 - The core point of the article is that Yichang Technology (002420) announced a share transfer agreement where its controlling shareholder, Gaojin Group, will transfer 104 million shares, representing 25.33% of the company's total shares, to Weiran Partnership for a consideration of 850 million yuan [2][3] - The transfer price is calculated at 8.157 yuan per share, which is a discount of 3.23% compared to the last trading price of 8.43 yuan before the suspension [3] - Upon completion of the transaction, Gaojin Group will no longer hold shares in Yichang Technology, and Weiran Partnership will become the controlling shareholder, with the Chuzhou State-owned Assets Supervision and Administration Commission becoming the actual controller [3] Group 2 - Weiran Partnership, established on December 18, has a total investment of 420 million yuan, with Chuzhou City Investment Xinchuang Asset Management Co., Ltd. as the general partner holding 0.24% of the investment [3] - The partnership's other contributors include Chuzhou City Weiran Investment Development Co., Ltd. and Chuzhou City Tongtai Industrial Development Co., Ltd., holding 75.95% and 23.81% of the investment, respectively [3] - In the equity change report, Weiran Partnership expressed confidence in Yichang Technology's intrinsic value and future development prospects, aiming to maintain the company's normal operations and sustainable development post-transaction [4] Group 3 - For the first three quarters of the year, Yichang Technology reported revenue of 2.1 billion yuan, a year-on-year increase of 14.3%, while net profit was 38.08 million yuan, reflecting a year-on-year decrease of 46.84% [5]

Core Viewpoint - The Financial Regulatory Administration has issued the "Management Measures for Information Disclosure of Asset Management Products by Banking and Insurance Institutions," aiming to standardize information disclosure for asset management trust products, wealth management products, and insurance asset management products, effective from September 1, 2026 [1] Group 1: General Regulations - The measures establish general regulations for information disclosure, including channels, responsibilities, methods, prohibited behaviors, and document requirements [1] - Prohibited behaviors include making unauthorized profit commitments, predicting actual investment performance, using incomparable or inaccurate data for performance comparisons, and disparaging other asset management products or institutions [1] Group 2: Disclosure Requirements - The measures categorize information disclosure into four aspects: fundraising information, periodic information, temporary information, and termination information, covering the entire lifecycle of asset management products [1] - Specific requirements are set for product prospectuses or contracts, performance benchmarks, issuance announcements (or reports), periodic reports, net value disclosures, past performance, and temporary disclosures before and after events, as well as maturity liquidation reports [1]

证券时报记者 孙璐璐 贺觉渊 深圳，中国改革开放的窗口，正在引领新兴产业与未来产业巨变。中央经济工作会议提出，要创新科技金融服 务。在这里，一场金融破局赋能科技创新的新探索再次跑出"深圳速度"。 证券时报记者近日走访深圳了解到，在政府搭台支持、金融机构深挖数据价值合力下，从种子萌芽的无资质科创 企业到发展腾飞的国家级专精特新企业，"投贷保担"等各类金融资源充分发挥各自优势，加强联动支持，不断更 新完善科技金融生态。 银行企业共享发展成果 助企加速腾飞 截至2025年10月末，深圳科技贷款余额2.2万亿元，居全国各城市前列。超2万亿元贷款的背后，既有庞大实体产业 支撑，也离不开金融业不断探索科技金融的创新实践。 高成长期科技型企业资金需求较大，但企业往往希望在不稀释股权的情况下，能够获得更高金额、更长期限的信 贷资金支持。但对银行而言，在传统信贷模式下难以实现风险收益平衡。 为解决企业与银行之间的"痛点"，中国人民银行深圳市分行指导辖内银行推出"腾飞贷"业务模式并持续迭代升级。 从1.0版的"贷款利率挂钩企业经营成果"，到2.0版的"贷款+未来长期金融服务"，再到2024年底推出的3.0版"贷款 +分享企业超额 ...

（文章来源：证券时报） 海南自由贸易港封关运作首周，离岛免税购物保持增长态势，消费热潮持续升温。据海口海关统计，封 关运作首周（12月18日—24日），海口海关共监管离岛免税购物金额11亿元，同比增长54.9%。 ...