Core Viewpoint - The article emphasizes the role of technological innovation as a core element of new productive forces and highlights the importance of capital markets in connecting technological innovation with the real economy. Dongwu Securities is committed to providing comprehensive financial services for technology enterprises through various innovative approaches, including AI empowerment and a full lifecycle service model [1]. Group 1: Integrated Innovation Service Ecosystem - Dongwu Securities has abandoned traditional single-point financial service models to create an integrated financial service ecosystem that includes investment banking, industry research, equity investment, and mergers and acquisitions, catering to the diverse needs of technology enterprises throughout their lifecycle [2]. - The company focuses on core industries, particularly in Suzhou, targeting innovation clusters in electronic information, equipment manufacturing, biomedicine, and advanced materials, and provides customized financial solutions [2]. - Dongwu Securities enhances its research capabilities to understand the technological value and market prospects of emerging industries, thereby increasing the visibility and recognition of quality technology enterprises [2]. Group 2: Regional Collaboration and Government Partnerships - The company leverages regional advantages and deepens cooperation with local governments, signing strategic cooperation agreements to access government resources and industry policies, facilitating early intervention in enterprise cultivation [3]. - Dongwu Securities has initiated technology innovation funds in collaboration with local governments to nurture potential listed technology enterprises and has established a merger fund to promote high-quality development in key industry clusters [3]. Group 3: Comprehensive Financial Toolset for Technology Enterprises - Dongwu Securities has developed a diverse and complementary financial toolset to meet the financing needs of technology enterprises at different stages of development, including the issuance of technology innovation bonds [4]. - The company has successfully issued over 20 billion yuan in technology innovation bonds since 2016, supporting numerous technology enterprises in reducing financing costs and expanding financing channels [4]. - The issuance of the first private venture capital enterprise technology innovation bond in 2024 demonstrates the company's commitment to innovative financing solutions [4]. Group 4: Support for IPOs and Major Asset Restructuring - Dongwu Securities has designed comprehensive financial service plans combining bonds and IPOs, successfully assisting companies like Xujie Technology and Longteng Optoelectronics in issuing convertible bonds and going public [5]. - The company has executed significant asset restructuring cases, showcasing its capabilities in industrial integration and value reconstruction, including notable mergers that have set precedents in the market [6]. Group 5: Digital Transformation and Technological Empowerment - The company is implementing a digital transformation strategy to enhance its service capabilities, investing in self-developed technology and innovation [7]. - Dongwu Securities launched a fully self-innovated core trading system and developed its own large model, "Dongwu Xiu Cai GPT," marking significant advancements in its technological foundation [7]. - The application of AI in investment banking has improved research efficiency and personalized asset allocation services for high-net-worth clients, enhancing the overall quality of financial services [7]. Group 6: Commitment to High-Quality Development - Dongwu Securities aims to transform the concept of "financial empowerment for innovation" into tangible value creation through strategic foresight, innovative products, and a solid technological foundation [8]. - The company plans to continue its focus on the Suzhou region and leverage national strategies for integrated development in the Yangtze River Delta to provide intelligent, efficient, and precise financial services to technology innovation enterprises [8].

新《公司法》规定，使用公积金弥补公司亏损，应当先使用任意公积金和法定公积金；仍不能弥补的， 可以按照规定使用资本公积金。今年6月财政部出台《关于公司法、外商投资法施行后有关财务处理问 题的通知》（下称《通知》），其中对资本公积金弥补范围、时间、依据、程序等作出财务规范，比如 在程序方面，董事会决议后需提交股东会审议。 7月17日，创业板上市公司盈康生命公告拟动用盈余公积及资本公积弥补亏损。笔者认为，上市公司使 用资本公积金弥补亏损，应平衡好各方利益。 值得关注的是，相比征求意见稿，《通知》增加了保护债权人利益的内容：使用资本公积金弥补亏损的 公司应自股东会决议之日起三十日内通知债权人或向社会公告；公司债权人对其债务风险合理评估。但 若债权人经评估认为公司存在债务风险，是否可主张债务加速到期或追加担保等约束措施，并不明确。 监管部门应加强对使用资本公积金补亏企业的日常经营引导与监控，持续推动提升主业盈利稳定性。上 市公司也应制定切实可行的扭亏与盈利计划，明确未来一段时间的盈利路径与关键指标，主动接受市场 监督，重建价值信誉。 以资本公积金弥补亏损绝非财务报表的"粉刷工程"，其合理性取决于在操作中能否实现债权人、 ...

据报道，今年以来，广东深入贯彻党中央促进高质量就业部署，实施"百万英才汇南粤"行动计划，已吸 引超100万应届高校毕业生留粤来粤就业创业，为现代化产业体系建设提供坚实人才支撑，彰显经济大 省责任担当。 这则新闻里的"100万"不是简单的数字堆砌，而是一场关于未来的双向奔赴——广东用诚意和行动向青 年抛出橄榄枝，青年则以青春活力为广东现代化产业体系注入新动能。放在全国人才竞争的大背景下 看，这场行动的意义早已超越"招才"的范畴，更像是一场精心策划的"生态构建"：既回应了青年对就 业、创业、生活的现实需求，又紧扣广东产业升级的战略方向，最终实现人才与城市的同频共振。 （文章来源：证券时报） 这场行动给其他地方的启示在于：引才要"向前看"，更要"沉下去"。所谓"向前看"，是紧跟产业趋势， 尤其在新质生产力的赛道上，提前布局人才储备；所谓"沉下去"，是把政策做到青年的"心坎里"，从租 房补贴到文化认同，从解决眼前的"住"到规划长远的"发展"，每个环节都要体现"用户思维"。毕竟，人 才不是数字，是有温度的个体——当一座城市能同时满足青年的"生存需求"和"成长渴望"，自然能形 成"近者悦、远者来"的良性循环。 从"百万英 ...

Core Insights - The summer consumption market in 2025 is expected to show robust growth across various sectors such as cultural tourism, night economy, film, and sports, reflecting the vitality of the domestic consumption market [1][2] - There is a shift from traditional sightseeing and basic dining to personalized, high-quality, and immersive experiences, driven by rising income levels and evolving consumer attitudes [1][2] Group 1: Market Trends - The demand for immersive cultural experiences is increasing, as seen in examples like the Guizhou Red Scarf Long March Cultural Digital Art Museum and the Qingdao Beer Museum, which enhance visitor engagement [1] - The integration of technology and cultural IP is crucial for driving summer economic growth, with digital technologies bringing history to life and creating new consumption opportunities [1] Group 2: Regional Insights - The summer consumption boom is not limited to first-tier cities; county tourism and night economies in smaller cities are also performing well, indicating significant potential in lower-tier markets [2] - Local governments are implementing strategies like subsidies and promotions to stimulate night markets, showcasing the importance of optimizing the business environment in smaller cities [2] Group 3: Challenges and Considerations - There is a need to convert seasonal consumption spikes into year-round demand, particularly in night economies and film consumption, to avoid homogenization and dependency on promotional activities [2] - The explosive growth in outdoor sports and cultural tourism raises concerns about public service capacity and environmental sustainability, necessitating proactive resource planning and ecological protection [2] Group 4: Future Outlook - The summer economy reflects the resilience and vitality of the Chinese consumption market, with a focus on innovative supply to stimulate demand and deeper integration of culture, commerce, and tourism [2] - Continued policy support and infrastructure improvement are essential to ensure that the "hot economy" becomes a sustainable driver of high-quality development [2]

Core Insights - Shaanxi has emerged as a significant venture capital hub in Western China, with a total fund management scale nearing 1000 billion yuan [1] - The investment frequency in Shaanxi's venture capital market is increasing, with a notable rise in early-stage investments and a trend towards smaller, technology-focused investments [1] - The industry distribution in Shaanxi's venture capital shows a strong emphasis on "hard technology," particularly in electronic information, equipment manufacturing, and materials chemistry [1] Investment Trends - The investment landscape in Shaanxi is characterized by a focus on early-stage projects, with single investments predominantly in the million-yuan range, reflecting a trend of "investing early, investing small, and investing in technology" [1] - Significant investments in sectors such as photonics and renewable energy are attracting national capital, indicating a growing interest in these areas [1] Association Efforts - The Shaanxi Provincial Venture Capital Association has established a "1237" ecosystem service system to facilitate efficient connections between technological achievements and financial capital, contributing to over 8 billion yuan in financing [2] - The association's "1+4+N" precise matching service system aims to streamline the entire fundraising, investment, and exit process, enhancing the support for hard technology projects [2] Policy and Ecosystem Support - The increasing influence of state-owned funds, along with tax incentives and special funds, is directing capital towards local advantageous fields such as photonics and renewable energy [3] - The ecosystem focuses on industries like artificial intelligence and high-end equipment, utilizing venture capital conferences and roadshows to promote technology commercialization and project incubation [3]

周恺秉介绍，协会在构建行业生态方面主要通过活动链接各方面资源，典型代表就是在杭州每年举办万 物生长大会，积聚创投、创业企业等，打造整个创投生态，并且不断拓展和海外地区的沟通衔接，近年 来和东盟等地监管机构、创投机构、创业企业保持频繁互动，做专场的活动交流。协会还设立独角兽俱 乐部，对杭州的独角兽企业保持两周一次的走访频率，得到会员机构较好的认可。 （文章来源：证券时报） 杭州的民营创投氛围也十分浓厚。周恺秉介绍，协会的会员以杭州本土成长起来的创投机构为主，规模 不是特别大，但从起步发展阶段就更重视投早投小投科技，形成独特的本地化投资逻辑：更早介入（本 土机构以早期投资为主要投资阶段）、更重技术（硬科技项目在投资组合中的占比普遍较高）、更长周 期（愿意陪跑企业成长平均投资周期长）。据杭州市创投协会不完全统计，目前在杭州市注册的创业投 资基金约3000只，认缴规模约4000亿元。 根据周恺秉的观察，今年以来，杭州投资机构最关注三大领域。首先是以人工智能为代表的AI企业； 其次是以机器人为代表的具身智能、智能设备领域；最后就是生物医药赛道的创新企业，尤其是和AI 相结合的方向。与其他地方创投机构相比，杭州创投机构之 ...

在长三角经济版图中，苏州以雄厚的产业基础和活跃的创新动能占据重要地位，也成为创新与产业、产 业与资本结合最好的城市之一，逐步形成了特色鲜明的股权投资"苏州模式"。苏州市基金业联合会（原 名苏州股权投资基金协会）成立14年来，已发展成为整合政府、资本、产业资源的关键纽带。 苏州市基金业联合会秘书长吴迪近日在接受证券时报记者专访时表示，协会立足苏州产业根基，致力于 构建具有鲜明特色的创投服务体系，在推动行业发展、深化会员服务、强化监管协作、促进基企政对接 等方面做出更多成果，不断提升苏州市基金业的知名度和影响力。 其次是"产投融合"深化，在市场化基金方面，苏州本土产业完整度居全国前列，创新创业氛围浓厚，在 先进制造、半导体与集成电路、生物医药、医疗器械、低空经济、新材料、航空航天等多个方向均有专 业的投资机构持续关注和投资，近年来产业龙头作为市场化投资的新生力量正在各自的产业领域发挥越 来越显著的投资引领作用，苏州的上市公司群体在创业孵化和创业投资中均发挥了重要作用。 2024年年末，苏州国家科技型中小企业数量超过2.43万家，位列全国第一。国家高新技术企业1.74万 家，国家级专精特新企业607家，均为全国第四 ...

Core Viewpoint - The venture capital industry in Hunan is becoming a crucial engine for high-quality regional economic development, driven by the "Three Highs and Four New" strategy [1][2]. Group 1: Association's Role and Achievements - The Hunan Provincial Equity Investment Association has over 200 member units and investment institutions, managing more than 1,000 funds with a total capital scale exceeding 300 billion yuan [1]. - The association focuses on a comprehensive service network to support the investment industry, the real economy, and government initiatives, adhering to a development strategy that includes diverse service measures [1][2]. - The "Golden Steward" service system has assisted over 30 member units in obtaining more than 10 million yuan in subsidy funds and 408,000 yuan in tax refunds [1]. Group 2: Sector-Specific Initiatives - The association has established four specialized committees focusing on new materials, new energy, biomedicine, and electronic information technology to deepen the integration of industry and finance [2]. - The biomedicine committee aims to build a health industry service platform by integrating quality resources and organizing high-end forums and research reports [2]. Group 3: Future Directions - The association plans to continue enhancing the "service + empowerment" concept to deepen the integration of venture capital resources with industrial needs, thereby strengthening the implementation of the "Three Highs and Four New" strategy in Hunan [3].

私募员工离职后从业资格注销难的问题终于解决了。 证券时报记者获悉，中基协近日正式上线私募基金从业人员"强制注销"通道，彻底打破了从业资格注销 依赖原任职机构审核的单一路径，填补了行业制度空白，备受市场关注。 私募业内人士表示，这一举措有助于从制度层面保障私募从业人员的职业权益。 根据《基金从业人员管理规则》，基金经理等从业人员离职后，原机构需在五个工作日内为其办理资格 注销手续。然而，由于从业人员的资格注销申请必须由原机构审核同意后才能生效，这一规定在实际执 行中偶尔会"失灵"，部分私募甚至故意据此卡跳槽员工。 据了解，还有不少机构因内部流程复杂、人员繁忙或其他原因，未能及时处理注销申请，导致员工无法 顺利离职，甚至长期受困于前机构。 一位曾任职于私募基金的从业人员向证券时报记者透露自己的遭遇，她离职后因原机构中台忙碌，拖延 了一个多月才完成从业资格注销——理论上只需几天时间的流程，"我这还是幸运的，有朋友被拖了两 年多都无法顺利注销从业资格"。 "这不仅影响再就业效率，还可能引发社保缴纳、劳动关系认定等衍生问题。"深圳一家私募机构相关负 责人表示，此前，员工离职但从业资格"挂而不销"成为制约行业人才流动的隐 ...

7月24日，人民币兑美元汇率中间价调升29个基点至7.1385，较月初累计调升149个基点，来到2024年11 月6日以来的最高水平。 7月以来，明显波动的美元指数走势，难以预测的美联储降息步调以及海外经贸形势变化，这些都未影 响到人民币汇率的平稳走势。美国经济数据的超预期表现并未扭转市场对"弱美元"预期的强化，我国在 持续向好的经济基本面支撑下，人民币汇率升值动能进一步积蓄。在受访专家看来，人民币汇率或稳中 趋升，应把握好人民币国际化的有利时机，进一步推进人民币的结算和计价功能。 "弱美元"预期持续强化 作为全球金融市场的风向标，美联储货币政策走向愈发扑朔迷离，但"弱美元"预期仍在强化。 美国经济数据的超预期表现并未有力推升美元升值——美元指数在7月上旬短暂反弹后，7月17日以来再 度走弱。截至7月23日，美元指数跌至97.20，相较年初累计贬值幅度接近11%。 关税政策对通胀的影响已成为掣肘美联储降息的主要因素之一。美联储6月发布的《货币政策报告》强 调，当前通胀压力仍存。美国国内钢铁和铝价相较于全球价格大幅上涨，关税政策带来的成本推动效应 是重要原因。 从美国与主要经济体的关税谈判近况看，虽然日美经贸谈 ...