券商中国记者从业内获悉，近日，中证协向各家券商下发了《关于开展首批过渡期证券公司并表管理报告 及并表风控指标报送工作的通知》，正式启动首批过渡期证券公司并表管理报告及并表风控指标报送工 作，标志着自《证券公司并表管理指引(试行)》发布以来，行业并表监管从制度框架建设步入实质性的落地 执行阶段。 根据通知，首批过渡期报送主体系已正式实施并表监管试点的6家头部券商，分别为中金公司、招商证券、中 信证券、华泰证券、中信建投证券、国泰海通证券。 据悉，根据中证协发布的《证券公司并表管理指引(试行)》相关要求，证券公司应当在每个会计年度结束后四 个月内，向中证协报送年度并表管理情况；同时，参照《证券公司并表管理指引(试行)》附件计算并表管理体 系相关风险控制指标，并定期报送中证协。 通知称，相关券商应于每个会计年度结束后四个月内报送上一年度并表管理情况报告，内容包括但不限于并表 管理组织架构、并表范围、并表管理各要素执行情况和其他并表管理重大事项。2026年应不晚于本年4月30日 报送2025年度证券公司并表管理情况报告，后续年度以此类推。 2020年，经行业互评和外部专家评审，中金公司、招商证券、中信证券、华泰证券、 ...

干细胞"智造"胰岛！1型糖尿病治疗迎曙光。 这项探索性临床研究已在３例1型糖尿病患者中，取得胰岛功能重建、血糖自主调控与脱离外源胰岛素等积极 疗效。但研究也提示，该疗法目前仍需联合长期免疫抑制治疗，以克服1型糖尿病自身免疫复发等问题。 百万用户都在看 4倍大牛股，突传利好！超级赛道，再迎重磅催化！ 中东动荡！"黑天鹅"起飞，全球股市重挫！A股优势在哪？ 刚刚，集体杀跌！阿曼，突传重磅！CTA冲击波来袭 利空突袭！AI巨头，传出大消息！ 违法和不良信息举报电话：0755-83514034 邮箱：bwb@stcn.com 记者从中国科学院获悉，中国科学院分子细胞科学卓越创新中心（生物化学与细胞生物学研究所）程新研究组 联合海军军医大学第二附属医院（上海长征医院）殷浩教授团队， 首次分别利用自体与异体干细胞来源的再 生胰岛进行微创移植，成功实现了1型糖尿病患者的胰岛功能重建与血糖自主调控。 相关论文近日发表于国际 学术期刊《柳叶刀·糖尿病和内分泌学杂志》。 程新告诉记者，体外胰岛再生，相当于为患者"更换零件"。研究团队经过多年深入研究，建立了一套全新的基 于内胚层干细胞的技术体系。这一新技术路线方向更明确，分化步骤 ...

Core Viewpoint - The 2026 Zhongguancun Forum will be held in Beijing from March 25 to 29, focusing on the theme of "Deep Integration of Technological Innovation and Industrial Innovation" with over 100 activities planned and participation from over 1,000 guests from more than 100 countries and regions [1][2]. Group 1: Event Overview - The forum will feature five major sections including forums, results releases, technology transactions, frontier competitions, and supporting activities, with over 100 events scheduled [2]. - The event aims to promote the construction of the Beijing-Tianjin-Hebei International Science and Technology Innovation Center, with policies for collaborative innovation and high-quality development to be released [3]. Group 2: Focus Areas - Key topics of discussion will include 6G, brain-computer interfaces, and cell and gene therapy, with multiple specialized forums planned to explore technological innovations and industrial applications [4]. - The event will also showcase significant innovations in areas such as embodied intelligence and high-end instruments, facilitating the transformation of scientific achievements into new productive forces [4]. Group 3: International Collaboration - The forum will emphasize global issues, inviting international organization leaders, renowned scientists, and experts to engage in deep dialogues on global challenges [7]. - The "Open Science International Cooperation Action Plan" will be released for the first time, alongside other significant achievements like the "2025 Global Engineering Frontiers" [6][7]. Group 4: Technological Innovations - Attendees will experience advancements in artificial intelligence, including an AI "translator" capable of supporting eight languages and collaborative robot services in food preparation [8]. - The event will also feature a significant increase in international participation, with foreign teams making up over 40% of the competitors in the Zhongguancun International Frontier Technology Competition [7].

Core Viewpoint - Haier Consumer Finance has received approval to increase its registered capital from 2.09 billion to 3.118 billion yuan, positioning it as the 11th largest among 31 licensed consumer finance companies in China [1][4]. Group 1: Company Overview - Haier Consumer Finance was established at the end of 2014, initiated by Haier Group, making it the first consumer finance company in China set up by an industrial entity [3]. - Initially, the registered capital was 500 million yuan, with Haier Group holding 49% of the shares [4]. - The company has undergone multiple capital increases, with the latest increase bringing the registered capital to 3.118 billion yuan [4]. Group 2: Recent Capital Increase - The recent capital increase involves three new shareholders, with Haier Group maintaining its 49% stake through additional investment [1][4]. - The new shareholders include Guoxin Financial and Lincon Trading, each acquiring 5.92% and 4.97% stakes, respectively [4]. - The capital increase is seen as a sign of confidence from existing shareholders and recognition from new investors, aimed at enhancing business expansion and technological capabilities [5]. Group 3: Industry Context - Since the revised Consumer Finance Company Management Measures were released in March 2024, there has been a trend of capital increases among consumer finance companies to meet new regulatory requirements [7][8]. - As of 2025, a total of nine consumer finance companies have completed capital increases, reflecting a broader industry movement towards strengthening capital bases [8][12]. - The new regulations have raised the minimum registered capital requirement from 300 million to 1 billion yuan, prompting many companies to optimize their capital structures [7][8].

Core Viewpoint - The brokerage asset management industry is undergoing profound changes, transitioning from traditional growth models reliant on channel business and non-standard asset expansion to a "true asset management" era due to multiple pressures such as public fund license constraints, low interest rate environments, and insufficient active management capabilities [1] Group 1: Industry Challenges - The industry faces three core challenges: the solidification of public fund license structures, the impact of low interest rates on traditional profit models, and the long-term development of active management capabilities [3][4] - Currently, only 14 brokerage firms or their asset management subsidiaries possess public fund qualifications, limiting the growth potential for those without licenses to focus solely on private equity [3] - The low interest rate environment has fundamentally disrupted previous fixed income strategies, necessitating a shift away from reliance on traditional models [4] Group 2: Strategic Transformation - Brokerages are restructuring their asset management strategies through product strategy reconstruction, business chain collaboration, and rethinking liability logic to create competitive advantages [2] - The focus is shifting towards "multi-asset" management, with firms like Guojin Asset Management emphasizing their capabilities in multi-asset allocation and product customization [8] - There is a growing emphasis on "customer-centric" solutions, with firms adapting to the complex and customized needs of high-net-worth and institutional clients [10][12] Group 3: Competitive Advantages - The brokerage asset management sector is leveraging its full business chain collaboration as a key competitive advantage, differentiating itself from other asset management institutions [11] - Firms are increasingly focusing on customized services and flexible account systems to meet the diverse needs of clients, moving from merely selling products to providing comprehensive account management [12] - The industry is also exploring new growth avenues such as public REITs, which are expected to become significant drivers for expanding public non-cash scale [9]

Core Viewpoint - The electricity sector in A-shares is experiencing significant growth, driven by multiple favorable factors, including the integration of AI and electricity, rising electricity prices, and the emergence of undervalued assets in the sector [1][5][7]. Group 1: Market Performance - The electricity sector showed strong performance today, with stocks like Jiawei New Energy and Yabo Co. hitting the daily limit up, indicating strong market consensus on these green energy stocks [2][4]. - Several companies, including Huadian Liaoning and Guangdong Electric Power A, also reached their daily limit up, reflecting a robust market sentiment towards the electricity sector [4]. Group 2: Key Highlights - Highlight 1: Electricity is becoming a core asset in the AI era, with the government emphasizing the synergy between electricity and computing power as a national infrastructure strategy [5]. - Highlight 2: The logic for rising electricity prices is strengthening, with new pricing mechanisms expected to enhance the profitability of public utility assets amid ongoing global energy supply disruptions [5][6]. - Highlight 3: Electricity assets align with the "HALO" asset paradigm, offering strong defensive characteristics and growth potential, characterized by high return on equity (ROE) and dividend yields [6]. - Highlight 4: Current valuations of electricity indices are below historical averages, indicating a significant undervaluation and potential for recovery in the public utility sector [7].

券中社 × 券商中国 券 中 社 扫码下载券中社APP 扫码关注券商中国公众号 quanshangcn qzs.stcn.com 舞中 券中社APP 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 , 责编：王璐璐 校对： 杨立林 百万用户都在看 4倍大牛股，突传利好！超级赛道，再迎重磅催化！ 中东动荡！"黑天鹅"起飞，全球股市重挫！A股优势在哪？ 刚刚，集体杀跌！阿曼，突传重磅！CTA冲击波来袭 利空突袭！AI巨头，传出大消息！ 违法和不良信息举报电话：0755-83514034 邮箱：bwb@stcn.com 据央视新闻3月18日消息，国家发展和改革委员会原党组成员、副主任徐宪平涉嫌受贿一案，由国家监察 委员会调查终结，移送检察机关审查起诉。最高人民检察院依法以涉嫌受贿罪对徐宪平作出逮捕决定，并 指定由内蒙古自治区赤峰市人民检察院审查起诉。近日，赤峰市人民检察院已向赤峰市中级人民法院提起 公诉。 检察机关在审查起诉阶段，依法告知了被告人徐宪平享有的诉讼权利，并讯问了被告人 ...

责编：王璐璐 校对： 杨立林 百万用户都在看 4倍大牛股，突传利好！超级赛道，再迎重磅催化！ 中东动荡！"黑天鹅"起飞，全球股市重挫！A股优势在哪？ 刚刚，集体杀跌！阿曼，突传重磅！CTA冲击波来袭 利空突袭！AI巨头，传出大消息！ 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APP 扫码关注券商中国公众号 quanshangcn qzs.stcn.com 舞中 券中社APP 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 , 阿根廷外交部长巴勃罗·基尔诺17日确认，这一南美国家退出世界卫生组织。 基尔诺当天在社交媒体上说，阿根廷正式退出世卫组织的决定已经生效。 基尔诺表示，阿根廷将继续通过双边协议和地区机制等推动国际卫生合作，维护在卫生政策上的自主决策权。 2025年3月17日，阿根廷外交部向《世界卫生组织组织法》保存人、联合国秘书长通报了这一决定。根据相关 国际条约规定，退出世卫组织的 ...

Core Viewpoint - The "Golden Yangtze" award selection for private equity funds in China has officially started, marking a significant event in the industry as it aims to promote long-term investment and support the real economy and national strategies [3]. Group 1: Event Overview - The 11th "Golden Yangtze" award selection was launched on March 18, 2026, and will run until April 20, 2026, inviting private equity institutions to participate [3][6]. - The award has evolved from over 60 participating managers in its inception to more than 400 institutions currently, establishing itself as a prestigious and authoritative award in the private equity sector [3]. Group 2: Industry Development - The private equity fund industry in China is experiencing a significant rebound, with the total scale surpassing 22 trillion yuan, marking a strong growth trajectory [4]. - As of January 2026, the management scale of private equity funds reached 22.44 trillion yuan, an increase of 2.52 trillion yuan compared to the same period last year, indicating a solid foundation for high-quality development in the industry [4]. - The industry is returning to the "double hundred era," with a rapid increase in the number of private equity firms managing over 10 billion yuan, accelerating the process of industry consolidation and specialization [4].

Core Viewpoint - The UAE real estate market is experiencing a significant crisis of confidence due to escalating tensions in the Middle East, leading to a sharp decline in transaction activities and a substantial drop in property stock prices [2][4][6]. Group 1: Market Impact - Aldar Properties, the largest listed developer in Abu Dhabi, has seen its stock price drop over 33% since the outbreak of conflict [2][4]. - Emaar Properties, another major developer in the UAE, has also experienced a decline of over 30% in its stock price, with bond prices of various developers significantly falling [6]. - Overall transaction value in the UAE real estate market decreased by 31% year-on-year and 51% month-on-month in the first half of March since the conflict began [6]. Group 2: Investor Sentiment - Investor sentiment towards the Dubai real estate market has turned cautious, with rising risk aversion among international investors and capital flows being affected [6]. - There has been a surge in inquiries from clients looking to transfer assets from the UAE to Singapore following the outbreak of the US-Iran conflict [6]. - Economists from Abu Dhabi Commercial Bank emphasize that foreign investor confidence will be crucial for future real estate demand, especially as new housing supply is expected to remain high starting in the second half of 2026 [6]. Group 3: Long-term Outlook - If foreign investor enthusiasm remains low, there could be a high vacancy rate for luxury villas and off-plan apartments in the UAE [7]. - Analysts warn that prolonged conflict could damage the UAE's carefully cultivated image of safety and openness [7]. - Despite current challenges, some executives in the Middle Eastern real estate sector maintain confidence in the long-term prospects of the market, citing strong fundamentals in the Gulf Cooperation Council (GCC) countries [9].