Core Viewpoint - BlackRock's Systematic Active Equity (SAE) strategy is increasingly playing a significant role in local investments in China, leveraging advanced data analysis techniques to enhance investment decision-making and performance [1][2]. Group 1: SAE Strategy Overview - As of June 2025, BlackRock's assets under management reached $12.5 trillion, making it one of the largest asset management companies globally [1]. - The SAE strategy utilizes machine learning and natural language processing to capture valuable investment signals, having evolved to its sixth generation language model with $336 billion in assets under management [1]. - The performance of BlackRock's funds utilizing the SAE strategy, such as the CSI 300 Index Enhanced A and the CSI 500 Index Enhanced A, has shown impressive net value growth rates of 18.35% and 18.02% respectively since their inception [1]. Group 2: Implementation and Team Structure - BlackRock plans to fully integrate the SAE strategy into its active equity investments, utilizing over 1,000 proprietary signals and alternative databases to enhance investment breadth and success rates [2]. - The SAE investment team consists of over 120 members with diverse backgrounds in fields such as accounting, engineering, economics, computer science, finance, and physics, including experience from tech companies and NASA [2]. Group 3: Local Adaptation and Machine Learning - The SAE strategy is being localized by deploying global models on China's vast data sets, continuously optimizing the approach based on local market conditions [3]. - The weight of machine learning signals in the SAE model has increased from 15% in 2019 to 30% currently, with expectations for further growth [3]. - The Augmented Investment Management (AIM) system dynamically adjusts and optimizes signal weights based on historical market conditions and fund performance, ensuring adaptability to market changes [3]. Group 4: Investment Strategy and Risk Management - The combination of AI-driven signals and the AIM tool enhances the intelligence, speed, and precision of investment processes [4]. - The SAE strategy focuses on individual stock selection while minimizing exposure to industry and style factors, allowing for a more stable alpha generation across hundreds of stocks [4]. - The systematic strategy aims to maximize excess returns while maintaining control over overall portfolio volatility, drawdown, and active risk [4].

Core Viewpoint - Zhao Jingliang, the deputy general manager of Caida Securities, submitted his resignation due to job changes and will not hold any position in the company after leaving. He will take on the role of general manager at Guosheng Securities, which is undergoing a name change and restructuring process [1][3][4]. Group 1: Resignation and Transition - Zhao Jingliang's resignation was confirmed by the board of directors, stating no disagreements with the company or board [1][3]. - After leaving Caida Securities, Zhao Jingliang will assume the position of general manager at Guosheng Securities, which is in the process of appointing a new general manager following the resignation of the previous one [3][4]. Group 2: Company Performance - Guosheng Financial Holdings reported a total operating revenue of 1.136 billion yuan in the first half of the year, a year-on-year increase of 32.10% [4]. - The net profit attributable to shareholders of the listed company reached 209 million yuan, up 369.91% compared to the same period last year, primarily due to increased income from securities brokerage and reduced credit impairment losses [4].

中国海警局新闻发言人甘羽表示，9月16日，菲律宾组织10余艘公务船，不顾中方一再劝阻和警告，执意非法侵闯中国黄 岩岛领海，中国海警依法对菲船只实施管制并予以驱离。其间，菲3014号公务船危险机动、故意冲撞中方正常执法的海 警船，危及中方船只和人员安全，中国海警依法采取管控措施，现场操作专业规范、正当合法。黄岩岛是中国固有领 土。菲方行为严重侵犯中方主权，严重违反中国法律和国际法相关规定，我们正告菲方立即停止侵权行径。中国海警将 依法在黄岩岛海域开展维权执法活动，坚决维护国家领土主权和海洋权益。 来源：央视新闻微信公众号 违法和不良信息举报电话：0755-83514034 邮箱：bwb@stcn.com 券中社 券 商 中 国 × 券 中 社 扫 码 下 载 券 中 社 A P P 扫码关注券商中国公众号 quanshangcn qzs.stcn.com 券中社APP 弊中社 券 商 中 国 是 证 券 市 场 权 威 媒 体 《 证 券 时 报 》 旗 下 新 媒 体 , 券 商 中 国 对 该 平 台 所 刊 载 的 原 创 内 容 享 有 著 作 权, 未 经 授 权 禁 止 转 载 ， 否 则 将 追 ...

消费领域迎来重磅利好政策。 据新华社消息，商务部等9部门9月16日对外发布《关于扩大服务消费的若干政策措施》（以下简称《政策措施》），提出五方面19条举措，包括：开展"服务消费 季"系列促消费活动；支持优质消费资源与知名IP跨界合作；因地制宜延长热门文博场馆、景区营业时间，优化预约方式，鼓励推行免预约；优化学生假期安排，完 善配套政策等。 在培育服务消费促进平台方面，《政策措施》提出，实施服务消费提质惠民行动。印发《服务消费提质惠民行动工作方案》，从加强政策支持、搭建平台载体、扩 大对外开放、强化标准引领、优化消费环境等方面提出工作举措。持续深化"购在中国"品牌打造，开展"服务消费季"系列促消费活动，围绕贴近群众生活、需求潜 力大、带动作用强的重点领域开展服务消费促进活动，培育服务消费品牌，打造服务消费热点。 《政策措施》指出，开展消费新业态新模式新场景试点城市建设。积极发展首发经济，推动创新和丰富服务消费场景，支持优质消费资源与知名IP跨界合作，打造 一批商旅文体健融合的消费新场景，培育一批新型消费龙头企业。 在丰富高品质服务供给方面，《政策措施》提到，扩大服务业高水平对外开放。推动互联网、文化等领域有序开 ...

Macro Dynamics - The Ministry of Commerce and nine other departments proposed to explore the establishment of spring and autumn breaks for primary and secondary schools to increase tourism and service consumption time while keeping the total number of holidays and teaching hours unchanged [2] Innovation Index - According to the 2025 Global Innovation Index released by the World Intellectual Property Organization, China ranks among the top ten, maintaining a leading position among middle-income economies, with strong momentum in R&D expenditure, high-tech exports, and innovation output [3] Tax Policy - Starting from October 1, 2025, Guizhou Province will implement a tax refund policy for overseas travelers shopping in the region, following relevant regulations from the Ministry of Finance, General Administration of Customs, and the State Administration of Taxation [4] Real Estate - The China Real Estate Association announced the launch of a direct sales platform for commercial housing on September 12, 2025, with 15 initial signatory units from various sectors including real estate development and financial services [5] Financial Institutions - The Zhejiang Regulatory Bureau approved the capital increase and share expansion plan of Zhejiang Mintai Commercial Bank, requiring the board to strengthen the review of the qualifications of new shareholders [6] Market Data - On September 16, the three major A-share indices closed higher, with the Shanghai Composite Index up 0.04%, Shenzhen Component Index up 0.45%, and ChiNext Index up 0.68%. The humanoid robot concept surged, with several stocks hitting the daily limit [7] - As of September 15, the financing balance of the two markets increased by 183.29 billion yuan, with the Shanghai Stock Exchange reporting a balance of 11,936.52 billion yuan and the Shenzhen Stock Exchange reporting 11,517.75 billion yuan [8] Company Dynamics - Douyin launched the "AI Douyin Truth" feature to provide users with fact-checking against misleading content and rumors, resulting in a 67% decrease in rumor exposure over the past quarter [11] - Haohai Biotechnology announced that one of its controlling shareholders received an administrative penalty notice from the China Securities Regulatory Commission for insider trading, which does not impact the company's daily operations [12] - Funeng Technology plans to launch its third-generation sulfide all-solid-state battery by 2027, with the second generation achieving an energy density of 500Wh/kg [13] - Howie Group has entered NVIDIA's supply chain, supporting the NVIDIA DRIVE AGX Thor ecosystem with imaging solutions for next-generation smart driving vehicles [14]

值得一提的是，该行新任行长石海龙、原行长王锡真均为"70后"，分别出生于1973年、1974年，且都曾在建设银行甘肃 省分行任职。甘肃银行现任董事长为刘青，现年59岁，明年3月即将年满60周岁。 甘肃银行迎新行长 资料显示，石海龙现年52岁，其履历丰富，从业经历横跨银行、资产管理公司、地方政府、金控集团。 在加入甘肃银行前，石海龙曾任建设银行甘肃省分行职员、中国信达资产管理公司兰州办事处审核委办公室经理、甘肃 省政府金融办综合处副处长、甘肃省农村信用社联合社党委委员、党委组织部部长、人力资源部总经理、兰州农商银行 党委书记、董事长等职。 2019年，石海龙被任命为甘肃省农村信用社联合社党委委员、副主任。2024年，石海龙调任甘肃金融控股集团有限公司 （简称"甘肃金控"）副总经理。 本月初，甘肃省政府发布的干部任前公示就指出，石海龙"拟任省管企业经理层正职"。9月12日，甘肃省政府发布的人事 任免通知显示，石海龙将赴任甘肃银行行长、董事，免去其甘肃金控副总经理职务。 如今尘埃落定，石海龙将正式赴任甘肃银行。该行公告显示，石海龙任期自其行长任职资格获得甘肃金融监管局核准之 日起，至第四届董事会届满为止。在高级管理 ...

2025年9月16日，河北省廊坊市中级人民法院一审公开宣判中央宣传部原副部长张建春受贿案，对被告人张建春以受贿罪判处有期徒刑十四年，并处罚金人民币四 百万元；对张建春受贿所得及孳息依法予以追缴，上缴国库。 来源：央视新闻 责编：汪云鹏 校 对： 高源 百万用户都在看 刚刚！美联储，传出重磅消息！ 重磅突发！英伟达，违反反垄断法！ 刚刚，多只牛股发布公告！ 利好来袭！人工智能，突传重磅！ 违法和不良信息举报电话：0755-83514034 邮箱：bwb@stcn.com 经审理查明：2004年至2024年，被告人张建春利用担任中央组织部干部一局任免处正处级调研员、副处长、处长，干部一局副巡视员、副局长，北京市委组织部副 部长、常务副部长，中央组织部干部一局局长，中央组织部部务委员兼干部一局局长，中央组织部副部长，中央宣传部副部长等职务上的便利以及职权、地位形成 的便利条件，为有关单位和个人在项目推进、业务承揽、工作安排、职务调整等事项上提供帮助，直接或者通过他人非法收受有关单位和个人给予的财物，共计价 值人民币5506万余元。 廊坊市中级人民法院认为，被告人张建春的行为构成受贿罪，受贿数额特别巨大，应依法惩处。 ...

据"廉洁安踏"微信公众号9月16日消息，2025年，安踏集团聚焦高风险领域推进反腐专项治理，通过内部审计、监察、稽核等多重举措严厉打击贪腐行为。 安踏集团通报，截至2025年8月，因严重舞弊触犯集团红线被辞退的员工74人； 涉嫌违法犯罪移交司法机关处理的内外部人员46人（内部21人，外部25人），其中包含总裁级1人，总监级14人、经理级4人； 追诉离职人员3人（因在职期间职务犯罪）； 违反诚信廉洁责任条款的舞弊供应商及合作伙伴45家，查处案件涉及违法犯罪金额约3千万元。 来源："廉洁安踏"微信公众号 责编：汪云鹏 校 对： 陶谦 百万用户都在看 刚刚！美联储，传出重磅消息！ 重磅突发！英伟达，违反反垄断法！ 刚刚，多只牛股发布公告！ 利好来袭！人工智能，突传重磅！ 违法和不良信息举报电话：0755-83514034 邮箱：bwb@stcn.com ...

百万用户都在看 刚刚！美联储，传出重磅消息！ 重磅突发！英伟达，违反反垄断法！ 刚刚，多只牛股发布公告！ 利好来袭！人工智能，突传重磅！ 违法和不良信息举报电话：0755-83514034 邮箱：bwb@stcn.com 券中社 券 商 中 国 × 券 中 社 扫 码 下 载 券 中 社 A P P 扫码关注券商中国公众号 quanshangcn qzs.stcn.com 券中社APP 弊中社 券 商 中 国 是 证 券 市 场 权 威 媒 体 《 证 券 时 报 》 旗 下 新 媒 体 , 券 商 中 国 对 该 平 台 所 刊 载 的 原 创 内 容 享 有 著 作 权, 未 经 授 权 禁 止 转 载 ， 否 则 将 追 究 相 应 法 律 责 任 。 9月16日，外交部发言人林剑主持例行记者会。 法新社记者提问，美国总统特朗普表示，中美两国元首将在本周五进行通话。美国财长贝森特也在马德里表示，TikTok 问题已经达成了相关协议框架，两国元首将会在周五的通话中作出决定。发言人能否确认两国元首将在周五进行通话？ 中方对此有何评论以及有何期待？ 林剑表示，元首外交对中美关系发挥着不可替代的战略引领作用。关 ...

波动有点大！ 今日，在港股市场上，药捷安康-B（02617.HK）的股价剧烈波动。该股早盘涨幅一度超过60%，最高触及679.5港元/股， 市值一度逼近2700亿港元。 然而，今日午间，药捷安康突然公告称，不知悉股价及成交量异动原因，集团的业务营运及财务状况并无重大变动。午 后，药捷安康的股价急速跳水，跌幅一度超过60%，最低触及165港元/股，市值跌至不到700亿港元，全天振幅超过 120%。 药捷安康称，上述试验旨在评估替恩戈替尼片联合氟维司群注射液在经治失败的HR+/HER2-复发或转移性乳腺癌患者中 的安全性、疗效及药代动力学的开放标签、多中心、Ⅱ期临床研究。早期临床研究结果表明，替恩戈替尼单药在经历过 多种治疗的HR+/HER2-乳腺癌患者中显示出令人鼓舞的临床效果，且与氟维司群的联合用药具有药理学协同作用，可能 为此类患者的治疗带来新的突破。 药捷安康股价大跌 今日早盘，药捷安康大幅拉升，股价最高触及679.5港元，市值一度逼近2700亿港元。然而，午后"风云突变"，14时10分 过后，卖单持续涌现，导致公司股价持续跳水，最低触及165港元/股，跌幅一度高达60.24%。截至收盘时，药捷安康股 价 ...