Core Viewpoint - The company is launching a series of live investment sharing events titled "One Step Ahead to Prosper in the New Year - 2026 Year-End Investment Sharing Gala" starting December 18, aimed at helping investors review the market trends of 2025 and plan for investment directions in 2026 [1][2]. Group 1: Event Overview - The event will feature 17 investment research experts and include 12 high-quality themed live broadcasts focusing on multi-asset allocation and various industry themes [1]. - The series aims to cater to investors with different risk preferences and interests, providing insights and thoughts to better capture long-term investment opportunities [1]. Group 2: Content Focus - The live broadcasts will cover three main dimensions: asset allocation, industry insights, and strategy outlook [1]. - In asset allocation, topics will include active equity, bond markets, gold assets, overseas markets, pension planning, and quantitative investment, analyzed in the context of current events like the "14th Five-Year Plan," Federal Reserve interest rate meetings, and the third anniversary of personal pension policies [1]. Group 3: Industry Insights and Strategy - The industry insights segment will focus on investment themes such as AI technology, pharmaceuticals, consumer goods, new energy, and military industry, providing in-depth analysis of industry development trends [2]. - The strategy outlook will be presented by Dr. Wu Youhui, General Manager of the Macro Strategy Department, offering a macroeconomic and market outlook for 2026 to guide investment directions for the new year [2]. Group 4: Engagement and Accessibility - The event will feature account managers from the investment management department as hosts, facilitating in-depth discussions and addressing market and industry questions from investors [4]. - The live broadcasts will be accessible through multiple platforms, including the company's official app and video account, providing a comprehensive and timely investment research experience [4]. Group 5: Educational Initiative - The "Heart Bridge Journey" brand represents the company's commitment to connecting with investors and promoting value, long-term, and rational investment philosophies [5]. - Since its inception in 2005, the initiative has conducted over 7,000 offline educational activities and more than 600 live broadcasts, reaching millions of investors nationwide [5].

根据通知，此次线索收集机制精准覆盖了券商IT服务机构四大类不正当竞争行为，为服务机构划定了清 晰的合规"红线"。 首先是商业贿赂类行为。通知明确，服务机构通过给予财物等手段贿赂证券公司工作人员或其他办理相 关事务人员，以谋求交易机会或竞争优势的行为已被纳入监管视野。业内人士认为，这意味着以往在项 目招投标、系统采购中可能存在的"灰色地带"将被重点监控。 证券业信息技术服务市场的无序竞争乱象，即将迎来行业自律组织的强力规整。 中国证券报.中证金牛座记者12月16日从业内独家获悉，日前，中国证券业协会向各证券公司正式下发 《关于建立信息技术系统服务机构不正当竞争投诉、举报线索收集机制的通知》，标志着针对行业IT服 务商不正当竞争的专项线索收集机制全面建立。记者了解到，中证协上述投诉、举报线索收集机制旨在 遏制证券业IT服务机构存在的商业贿赂、虚假宣传、技术倾轧及恶意定价等四类违规行为。此机制被业 内人士视为针对证券业IT服务无序竞争的"吹哨人"机制，是落实证监会监管要求、净化市场环境的关键 一步。 记者了解到，中证协上述投诉、举报线索收集机制旨在遏制证券业IT服务机构存在的商业贿赂、虚假宣 传、技术倾轧及恶意定价 ...

公司表示将严格按照相关法律法规要求，及时披露本次要约收购的最新进展，切实保障投资者知情权与 合法权益。建议投资者密切关注公司公告，充分认识市场价格与要约价格之间的显著差异，有效防范因 判断失误导致的投资损失。 公告特别强调，截至本次提示性公告发布时，公司股票收盘价为148.12元/股，明显高于本次要约收购 价格23.98元/股。若投资者在要约期限内接受要约，且未在可撤回期前撤回预受申报，则相关股份将以 远低于当前市场价的价格成交，可能导致投资者遭受重大经济损失。例如，若按145.00元/股的假设价 格计算，投资者以要约价格成交将面临每股约121.02元的价差损失。 根据公告安排，投资者在2025年12月16日(即要约到期前三个交易日)前，仍可通过委托证券公司撤回已 申报的预受要约。逾期未撤回的预受股份将自动按要约价格完成交割。公司郑重提醒投资者审慎评估本 次要约收购的定价合理性及市场环境，理性作出投资决策。 中证报中证网讯(王珞)天普股份（605255）(605255.SH)近日发布关于中昊芯英(杭州)科技有限公司要约 收购公司股份的第三次提示性公告。该公告详细阐明了本次要约收购的具体条款，并着重提示投资者关 ...

Core Insights - The report "China ESG Investment Development Innovation White Paper (2025)" indicates a significant shift in China's ESG landscape, moving from passive compliance to value creation driven by market forces [1][4] - The ESG ecosystem in China is evolving into a collaborative phase characterized by policy support, corporate leadership, and capital empowerment, reshaping the foundation for sustainable development [1] Group 1: Market Dynamics - Over 63% of surveyed A-share listed companies plan to maintain or increase their investments in carbon reduction, with the raw materials sector showing a strong growth intention [2] - The core drivers for corporate investment in emissions reduction have diversified, with energy costs (81%), customer demands (45%), and green financing (30%) emerging as new engines for green transformation [2] - Nearly 70% of companies are using green energy in their operations to reduce carbon emissions, while over 60% are improving energy efficiency through process upgrades and equipment enhancements [2] Group 2: International Expansion and Governance - ESG has become a critical capability for Chinese companies expanding overseas, with 55% of companies with international operations increasing emissions reduction investments due to downstream customer requirements [3] - Institutional investors are playing a more active role in corporate governance, transitioning from passive shareholders to engaged participants, with 90% of companies favoring shareholder communication as a governance method [3] - A significant 84% of companies recognize financial health as the primary concern of institutional investors, fostering a proactive management approach in listed companies [3] Group 3: Historical Context and Contributions - This is the fifth consecutive year that the report has been published, providing insights into the evolution of ESG policies and practices in China [4] - 华夏基金 has been a pioneer in ESG investment in China, becoming a signatory to the UN Principles for Responsible Investment in 2017 and engaging in over 170 ESG communications with more than 70 listed companies [4][5] - 紫顶股东服务 has established itself as a leader in voting rights management services in China, supporting institutional investors in participating in corporate governance [4][5]

中证报中证网讯(记者何昱璞)12月15日晚间，长城电工（600192）发布公告称，公司股票12月11日、12 日、15日连续3个交易日收盘价格涨幅偏离值累计超过20%，属于股票交易异常波动的情形。经公司自 查并向控股股东、实际控制人核实，截至公告披露日，公司不存在应披露而未披露的重大信息。 控股股东：未筹划涉及公司的重大事项 12月15日，长城电工收报10.76元，涨跌幅10.02%，换手率1.99%，成交额9480.36万元。 公司前三季度亏损1.59亿元 长城电工财报数据显示，公司2024年实现营业收入16.75亿元，同比下降21%；实现归属于上市公司股 东的净利润-2.25亿元，较上年度亏损扩大。 今年前三季度，长城电工实现营业收入10.95亿元，同比下降11.46%；净利润-1.59亿元，同比亏损再度 扩大。对于三季报业绩不佳，公司表示，主要是公司产品市场竞争持续加剧，获取订单难度进一步加 大，导致报告期收入规模下降，同时主要产品生产用原材料铜、银等价格持续高位，产品毛利率下降， 收入规模不足以消化成本费用，导致本期经营仍亏损，同比出现增亏。 公告显示，公司最新市盈率为-17.99，电气设备行业(申万 ...

Group 1 - The core point of the article is that Jin Chengzi plans to acquire a 55% stake in Changchun Samit Optoelectronics Technology Co., Ltd. for a total price of 188 million yuan, with cash and stock consideration both amounting to 94 million yuan [1] - Jin Chengzi intends to raise no more than 50 million yuan from up to 35 specific investors to support the acquisition [1] - Jin Chengzi's main products include laser control systems, integrated hardware, and laser processing equipment, which are applicable in various sectors such as consumer electronics, new energy, semiconductors, automotive, aerospace, and pharmaceuticals [1] Group 2 - The acquisition of Samit is expected to enhance Jin Chengzi's R&D capabilities and strengthen its competitive position in optical control and laser applications [2] - The collaboration with Samit, which specializes in precision optical control products, will allow Jin Chengzi to expand its customer resources in fields like aerospace detection and improve its core competitiveness [2] - Jin Chengzi aims to leverage Samit's products, such as fast mirrors and high-precision galvanometers, to enhance its offerings in industrial applications [2]

另外，基于全球智能化浪潮推动汽车体验升级与安全技术全面拓展的趋势，吉利联合中汽中心、中国检 验认证集团、清华大学等11家产学研机构共同发布了《智能汽车全域安全发展白皮书》，立足产业发展 全局，为行业安全发展提供了兼具战略性与实操性的参考。 中证报中证网讯（记者 李嫒嫒）吉利全球全域安全中心日前投入使用，面向全行业开放共享。其占地 约45000m ，是全球建筑面积最大、验证能力最全的综合型安全试验室；能力覆盖全球汽车安全标准中 被动安全领域的整车碰撞、系统模拟、行人保护及零部件安全性能等测试项目，也可进行主动安全、数 字安全等全域安全技术的验证。 吉利相关负责人介绍，吉利全球全域安全中心的"任意角度汽车碰撞测试区"可开展各类新能源汽车测 试、辅助驾驶测试、翻滚测试等综合安全试验，进行更充分地开发验证。吉利全球全域安全中心具备27 大类测试功能，测试车型覆盖乘用车和商用车，可满足中国、美国、欧洲、东南亚等国家和地区的安全 法规测试能力。 ...

Core Insights - Sichuan Changhong's subsidiary, Changhong Power, successfully developed an 800V high-voltage battery pack that powered China's first heavy-duty electric vertical takeoff and landing aircraft (eVTOL), AR-E800, during its maiden flight, achieving stable operation with "zero anomalies" [1] Group 1: Technological Advancements - The 800V high-voltage battery pack overcame significant technical challenges, including high voltage insulation, thermal management, and lightweight design [1] - Changhong Power developed a lithium-ion emergency power system for civil aircraft, addressing the critical issue of thermal runaway safety and passing stringent RTCA/DO-311A standard verification, which facilitates airworthiness certification for eVTOL manufacturers [2] Group 2: Industry Positioning - Sichuan Changhong is establishing a comprehensive low-altitude economy ecosystem, integrating core components, digital infrastructure, and safety control systems, with key breakthroughs achieved by its subsidiaries [1][2] - The company has created a closed-loop capability covering "product + solution + service," addressing three core areas: eVTOL batteries ("造天车"), integrated sensing platforms ("修天路"), and low-altitude security ("建天网") [2] Group 3: Market Potential - Although Sichuan Changhong's low-altitude business is still in the exploratory phase and has not yet generated significant revenue, its systematic technological reserves and ecological positioning provide a competitive advantage in the emerging market [2] - The company's transition from a traditional home appliance manufacturer to a high-tech industrial group is reflected in its low-altitude economy strategy, which is expected to become a new growth driver in the coming years [3]

为切实破解胶农"靠天吃饭、看价增收"的困境，中信期货深入金平产区开展调研，全面梳理天然橡胶产 业周期规律，精准捕捉市场价格波动趋势。在今年7月至11月国内天然橡胶期货价格一度下跌至14675 元/吨的情况下，中信期货及其子公司通过调查和研究橡胶产业，设计出与保单相匹配的场外期权策 略，最终取得了较好的赔付率，为云南金平胶农提供了价格下跌补偿，为边疆胶农筑牢了收入"安全 网"。 中证报中证网讯(记者葛瑶王超)近日，在上海期货交易所支持下，由中信期货有限公司及其子公司携手 中国太平洋财产保险股份有限公司云南分公司联合承办的2025年云南省金平县天然橡胶"保险+期货"项 目，于12月中旬圆满收官。 ...

Core Viewpoint - Fosun Pharma is investing 1.412 billion yuan to acquire a controlling stake in Green Valley Pharmaceutical, which focuses on the research, production, and sales of drugs for neurodegenerative diseases, particularly Alzheimer's disease [1][2]. Group 1: Investment Details - The acquisition will make Green Valley Pharmaceutical a subsidiary of Fosun Pharma [1]. - Green Valley's main product, Ganluo Sodium Capsule, received conditional approval from the National Medical Products Administration in November 2019 for treating mild to moderate Alzheimer's disease [1]. - The product is included in the national medical insurance directory as of 2021 [1]. Group 2: Financial Performance - In 2024, Green Valley is projected to achieve revenue of 572 million yuan and a pre-tax profit of 70.77 million yuan [2]. - From January to September 2025, Green Valley is expected to generate revenue of 102 million yuan but will incur a pre-tax loss of 67.61 million yuan due to the expiration of the original registration certificate [2]. Group 3: Strategic Focus - The investment is part of Fosun Pharma's strategy to enhance its presence in the central nervous system treatment sector, addressing unmet clinical needs in neurodegenerative diseases [3]. - The company plans to support the post-marketing confirmatory clinical trials for Ganluo Sodium Capsule to expedite its approval process [3]. - Fosun Pharma is also exploring a multi-technology approach to treatment solutions, including non-invasive diagnostic equipment and new oral drugs for Alzheimer's disease [3].