中证报中证网讯(记者张鹏飞)新恒汇5月29日晚间披露招股意向书，将在深交所创业板公开发行股票约 5988.89万股，公开发行股票的总量占发行后公司股份总数的25%，发行后总股本约为2.4亿股。公司此 次IPO计划募集资金5.19亿元，主要用于高密度QFN/DFN封装材料产业化项目和研发中心扩建升级项 目。 公开资料显示，新恒汇位于淄博市高新区，是一家集芯片封装材料的研发、生产、销售与封装测试服务 于一体的集成电路企业，主要业务包括智能卡业务、蚀刻引线框架业务以及物联网eSIM芯片封测业 务。 公司表示，集成电路封装材料领域新产品开发具有投入大、验证周期长等特点，目前蚀刻引线框架业务 仍处于高投入期，自有资金难以支撑多业务板块扩张。 新恒汇的股东阵容引人注目。虞仁荣作为第一大股东，直接持股31.41%，间接持股0.53%，合计持股 31.94%。虞仁荣是A股上市公司韦尔股份（603501）的实际控制人，在2024年胡润百富榜中以425亿元 人民币排名第94位。 任志军则直接持有公司16.21%的股份，间接持有公司3.1%的股份，合计持有公司19.31%的股份，为公 司第二大股东，并担任公司董事长。任志军此前曾在 ...

Core Viewpoint - Keda Intelligent has announced a significant management team adjustment, emphasizing a strategic focus on youth management, reinforced R&D barriers, and deep engagement in digital energy business to strengthen its competitive advantage in the new power system sector [1][2]. Group 1: Management Changes - The former chairman and president Huang Mingsong has stepped down as president, succeeded by Wang Tingting, a vice president since 1985 [1]. - Three young vice presidents, Liu Wei, Zhang Jiyong, and Qin Minghui, have been promoted, along with Huang Junwei as the new financial director, indicating a shift towards a younger management team [1][2]. - The average age of the core management team has decreased, positioning Keda Intelligent among the youngest decision-making teams in A-share listed companies [1]. Group 2: Strategic Focus - The management adjustment aligns with the company's strategy of "young talent cultivation," breaking down barriers between technology and market, and integrating R&D with market demands [2]. - Keda Intelligent has consistently increased R&D investment, with annual R&D expenses exceeding 200 million yuan and nearly 40% of personnel dedicated to R&D [2]. - The company has accumulated over 140 invention patents, creating a robust patent pool that supports business growth [2]. Group 3: Business Performance - The digital energy business has seen explosive growth, generating 2.17 billion yuan in revenue, accounting for over 75% of the company's total revenue [3]. - The new vice presidents all come from the digital energy business frontline, reflecting the company's strategic emphasis on this core area [3].

Core Viewpoint - The article highlights the recognition of Sanqi Interactive Entertainment as a key cultural export enterprise for 2025-2026, emphasizing its role in promoting Chinese culture globally through gaming [1][2]. Group 1: Company Recognition - Sanqi Interactive Entertainment has been included in the "2025-2026 National Cultural Export Key Enterprises" list, showcasing its commitment to cultural export [1]. - The game "Call Me the Boss," developed by Yanqu Network and published by Sanqi Interactive Entertainment, has been recognized as a key cultural export project for the same period [1]. Group 2: Business Performance - Sanqi Interactive Entertainment operates in over 200 countries and regions, having released more than 120 games, with a peak monthly revenue of over 2.3 billion yuan from global mobile game sales [2]. - In 2024, the company's overseas gaming revenue reached 5.722 billion yuan, accounting for nearly 33% of total revenue, positioning it among the top tier in the industry for overseas expansion [2]. Group 3: Cultural Integration - The company emphasizes the importance of high-quality content, integrating traditional Chinese cultural elements into its games, as seen in "Call Me the Boss," which features themes from traditional Chinese festivals [2]. - Sanqi Interactive Entertainment employs strategies like version collaborations to enhance cultural depth in its products, successfully combining traditional Chinese culture with global narratives [2]. Group 4: Future Plans - The company aims to continue promoting Chinese culture abroad by focusing on high-quality content, technological innovation, and an open ecosystem, exploring new models and paths for cultural export [3].

Core Viewpoint - The introduction of the "Rules" by the Asset Management Association of China is a timely measure that provides systematic guidance for public funds to engage in corporate governance, enhancing the role of institutional investors in the capital market [1][2]. Group 1: Regulatory Framework - The "Rules" establish new requirements for public funds regarding their participation in corporate governance, including mechanisms for exercising voting rights, internal controls, information disclosure, and self-regulation [1]. - The "Rules" serve as a self-regulatory framework that clarifies the role of public funds as "active shareholders," filling existing regulatory gaps and promoting long-term investment and value creation [2][3]. Group 2: Industry Transformation - The implementation of the "Rules" is expected to shift the focus of the public fund industry from short-term performance and scale growth to long-term returns and value creation, aligning with national strategies for high-quality economic development [2]. - Enhanced transparency in information disclosure will standardize the actions of fund managers and increase accountability, fostering a healthier investment culture and boosting investor confidence in public funds [2]. Group 3: Company Initiatives - The company has a strong foundation in governance and responsibility management, supported by its parent organizations, which emphasize corporate governance and ESG issues [4]. - Prior to the "Rules," the company had already integrated ESG principles into its strategy and established a comprehensive framework for responsible management, aiming to become a leader in the domestic ESG investment field [4][5]. Group 4: Future Outlook - Moving forward, the company plans to fully integrate the "Rules" into its strategic planning and daily operations, enhancing its research capabilities, decision-making processes, and communication with listed companies [6]. - The collective efforts of the public fund industry and the effective implementation of the "Rules" are anticipated to create a healthier, more transparent, and vibrant capital market ecosystem, ultimately benefiting investors with sustainable and high-quality long-term returns [6].

数据显示，截至5月27日，8只交易所基准做市公司债ETF自上市以来净流入额达到367亿元，最新规模 达到586亿元。其中，易方达上证基准做市公司债ETF（511110）自上市以来交投活跃，日均成交额达 28亿元，净流入额达73亿元，仅4个月时间规模从不到30亿元迅速突破百亿元，达到103亿元，在同类8 只产品中持续领先。 数据显示，截至5月27日，全市场11只信用债ETF年内净流入额近600亿元，最新总规模超1300亿元，较 去年末激增近150%。信用债ETF的迅猛发展，直接受益于交易所基准做市公司债ETF的推出。今年年 初，易方达上证基准做市公司债ETF等首批8只交易所基准做市公司债ETF成立，并于2月前后陆续上 市，之后持续获资金流入。 中证网讯 随着资金加速涌入信用债ETF，首只百亿交易所基准做市公司债ETF诞生。数据显示，截至5 月27日，跟踪沪做市公司债指数的易方达上证基准做市公司债ETF（511110）规模达到103亿元，突破 100亿元大关，成为首只百亿交易所基准做市公司债ETF，也是全市场第4只百亿信用债ETF。 易方达固定收益特定策略投资部李一硕介绍，信用债ETF之所以被越来越多投资者认可， ...

王秋丽介绍，圣翔移动机场2.0全称"移动智能起降场系统"，是圣翔航空自主研发的具有高机动性能的 垂直飞行器起降平台。产品通过创新车载可移动设计，实现机场跟随需求灵活转移的功能有效解决了传 统固定式机坪受场地制约的问题，拓展快速机动部署起降场的应用场景，适用于6.5吨以下垂直飞行器 起降，是全国首部车载可移动的智能起降场。 在本次大会的低空科技成果创新展上，低空新基建技术集群、先进的低空飞行器、智能管控系统、应用 解决方案等前沿科技成果集中亮相，全方位展示了当前低空经济领域的科技创新实力和创新实践成果。 会上，圣翔航空"百城千坪"计划和"产业+运营"模式的发布，为低空经济产业的规模化、规范化发展提 供了创新性思路和切实可行的实践路径。 中证报中证网讯（王珞）5月27日，以"智联空域 共生未来"为主题的2025低空经济生态场景大会在杭州 南湖未来科学园召开。作为"中国飞谷"的重要组成部分，南湖未来科学园携手浙江圣翔航空科技有限公 司（以下简称"圣翔航空"）、迅蚁网络、这里飞科技、昊舜视讯、重隼科技、微鸿科技等20余家低空经 济领域的领军企业，共同开启了"南湖低空应用场景示范基地计划"，促进最新行业科技成果与实际应 ...

Group 1 - The forum "Kejin Jiaorong - 2025 Innovation Value Transformation Forum" was held to explore the deep integration of finance, technology, and education, aiming to promote the efficient transformation of technological achievements and inject new momentum into high-quality economic development [1] - Fudan University is establishing a Master of Technology Transfer (MTT) program to cultivate leading technology managers, aligning with national strategic needs and enhancing the talent foundation for technological achievement transformation and innovation development [1][2] - The MTT program will leverage the advantages of the International Finance Institute to provide diversified financial lifecycle services, supporting the development of technology innovation enterprises and focusing on international technology transfer to help Chinese companies expand globally [2] Group 2 - The forum featured a session on sharing technology innovation cases, including a presentation by the chairman of Fudan Technology Innovation and the director of Shanghai Zuqin Innovation Transformation Research Institute, discussing the high-quality and efficient industrialization of scientific achievements [3] - Another case was presented by the deputy director of Fudan University's Optical Fiber Research Center, illustrating the industrialization of disruptive photonic security communication technology, emphasizing the challenges of crossing the "Darwin's Dead Sea" of achievement transformation [3]

中证报中证网讯（记者 张鹏飞）5月27日，中华老字号中药企业宏济堂丸剂数智工厂进入试生产，这标 志着宏济堂在丸剂智能制造领域取得重大突破。宏济堂为科源制药（301281）拟收购标的。 作为拥有118年历史的中华老字号企业，宏济堂目前持有的150余个文号中，91个为丸剂品种，形成蜜 丸、水丸、水蜜丸、糊丸、浓缩丸五大丸剂体系，构建起国内领先的传统丸剂矩阵。宏济堂董事长蒋红 升表示，面对市场对高品质丸剂产品的旺盛需求以及传统生产模式在效率、质量管控上的局限，宏济堂 制药前瞻性布局，投资建设丸剂数智工厂，旨在通过科技创新实现生产流程的革新，推动中医药产业迈 向现代化发展新高度。 据悉，宏济堂制药丸剂数智工厂建筑面积达1.2万平方米，入选省级重点项目。项目致力于丸剂全工艺 生产过程的技术升级，以5G工业互联网为依托，以AI技术为核心驱动力，融合数智孪生和前沿工艺技 术、精准的质量管控体系，构建起端到端智能体系，形成中医药生产大数据资产，将传统中药生产升级 为"数据驱动、精准可控"的现代化模式，实现丸剂连续化、智能化制造，全力打造智能、绿色、透明工 厂。 宏济堂丸剂数智工厂首创六角形锦缎盒全自动包装产线，实现了包装流程 ...

Group 1 - The core viewpoint is that the pharmaceutical sector is gradually recovering, reflected in the performance of listed companies, despite limited overall index growth [1] - The manager emphasizes a balanced approach to investment, focusing on risk-reward ratios and aiming for excess returns relative to the pharmaceutical index over time [1] - The fund manager has a strong track record, with the fund achieving a return of 87.60% since inception, ranking first in its category for various time frames [1] Group 2 - The fund's investment scope includes various segments of the pharmaceutical and healthcare industry, such as chemical pharmaceuticals, traditional Chinese medicine, biological products, and medical services [2] - The top ten holdings of the fund are diversified across high-growth areas like innovative drugs and medical devices, which helps mitigate individual stock volatility while participating in overall industry growth [2] - The holdings are balanced, reducing the risk associated with any single stock and enhancing exposure to the sector's growth potential [2]

中证报中证网讯（记者 周璐璐）为推动专业理论与业务实践深度融合，帮助在校学生更好地了解 证券行业前沿动态及实务操作、强化实践能力，促进教学与实践有机融合，近日，西部证券组织风险管 理部业务骨干走进西安财经大学，为金融专业本科生开展风险管理系列课程教学。西安财经大学经济学 院金融系主任、金融学专业负责人周晶主持并点评案例授课，百余名学生聆听课程。 西部证券表示，未来，将持续深化校企资源整合，依托专业人才禀赋，深耕课程共建、课题共研、 实训场景创新，并在党建联建、文化建设交流等维度不断拓展合作边界，推动理论研究与实践教学深度 融合，为资本市场高质量发展提供智力支持与人才保障。 课堂上，西部证券风险管理部业务骨干樊少杰向在场学生系统梳理行业监管机制的发展脉络，解析 证券行业分类评价的制度框架、方法体系、评价标准，以及业务发展状况、风险管理能力、持续合规状 况以及其他专项情况等评价维度，阐释了全面风险管理对券商合规经营与战略转型的支撑作用，提升了 学生对于全面风险管理体系在证券行业应用实践的认知。西部证券风险管理部市场风险与量化团队负责 人徐国澍聚焦证券公司操作风险管控全流程，从定义溯源到类型划分层层递进，结合《证券 ...