Group 1 - Ant Group has issued a statement denying any plans to collaborate with the People's Bank of China and China Rare Earth Group to create a stablecoin, urging the public to be cautious of misleading information [1] - JD.com has also released a statement refuting false claims regarding its stablecoin products and partnerships, warning users to be vigilant against investment scams [3] - JD.com highlighted its advantages in cross-border payments, including faster transaction speeds, lower costs, and uninterrupted service, while reiterating that its stablecoin has not been officially launched and any related information is fraudulent [5]

Core Viewpoint - The article highlights the significant rise of Chinese innovative drugs in the market, exemplified by the explosive debut of Zhonghui Biopharma-B, which saw a surge of nearly 160% on its first trading day, reflecting a broader trend of growth in the innovative drug sector in China [1][2][6]. Group 1: Zhonghui Biopharma-B Performance - Zhonghui Biopharma-B's stock price increased by 169.7% on its debut, closing with a nearly 160% gain [1][2]. - The company set a lower limit price of HKD 12.9 per share, raising a net amount of HKD 383 million [6]. - The public offering was oversubscribed by 4006.64 times, freezing HKD 210 billion in capital, making it the most oversubscribed biotech stock in Hong Kong this year [6]. Group 2: Growth of Innovative Drugs in China - The share of China's innovative drug BD (business development) transactions in the global market has increased from 10.8% in 2015 to an estimated 52.5% as of August 8, 2023 [9]. - The market size of innovative drugs in China reached CNY 679 billion in 2022, with projections to exceed CNY 1 trillion by 2026 and reach CNY 1.12 trillion by 2027 [9]. - The proportion of innovative drugs in the Chinese pharmaceutical market was 41% in 2022, expected to rise to 50% by 2026 and 51% by 2027 [9]. Group 3: Policy Support for Innovation - The National Healthcare Security Administration (NHSA) has held five meetings focused on supporting innovative drugs and medical devices, emphasizing a complete chain from research and development to payment [10]. - The NHSA's stance is to support genuine innovation while rejecting pseudo-innovation, which is expected to accelerate the global presence of Chinese innovative drugs and benefit patients [10].

8月10日晚间， 胖东来创始人于东来在社交平台发文，回应" 招聘刑释人员"。说明中称，此次招聘"刑 释人员"，是基于人性的善良和美好，希望各个群体的人们都能够得到社会的尊重和关爱。能让每个人有 尊严的生活。 说明称，希望刑释人员群体自身要能够正确阳光乐观地面对，因为已经得到过惩罚，要坚定的放下过往、 总结教训，未来踏踏实实的做好自己。 前述说明倡导社会对刑释人员不歧视、不戴有色眼镜，让他们能够被社会善良宽容的接纳，拥有平等的尊 严、人格和追求生命幸福的机会及权利。 对,因为已经得到过惩罚,要坚定的放下过往、总结教训, 未来踏踏实实的做好自己,把曾经走过的弯路当成生命中的 经历乃至宝贵的教育财富,像一个经历过风雨的传道者一样, 分享给更多的人少走弯路,这也是伟大的价值!同时更应该 能够勇敢坦荡、有尊严的、真诚、善良、健康美好的生活! 通过自身的改变和努力,成为创造和享受美好生活的主人! 坚定向善,坚定理解和包容一切不理解自己的过往的人,毕 竟自己曾经伤害过他人,所以不应因此而痛苦的纠结,影响 自己正常的状态!坚定地学习和拥有专业的创造美好生活的 能力,坚定地按照自己喜欢的健康快乐的生活方式生活!这 是对自己生命 ...

量化与主观百亿私募的"分化"仍在继续。 私募排排网最新数据显示，截至2025年7月底，百亿私募总数维持90家不变。其中，量化机构净增2家至44家， 创历史新高，而主观私募则净减2家至39家。 值得注意的是，随着量化私募的超额业绩持续亮眼，资金正在加速流向量化阵营，百亿私募的版图也在悄然重 塑。 此外，百亿私募也交出了一份亮眼的成绩单。截至2025年7月底，纳入统计的55家百亿私募平均收益达 16.60%，量化私募再度跑赢主观机构，不仅实现"全员盈利"，且32家量化私募收益超10%。 百亿量化军团再扩容 百亿私募不仅是规模标杆，更是行业的风向标。 私募排排网数据显示，截至2025年7月底，百亿私募总数为90家，环比持平。但从结构来看，量化与主观策略 呈现明显分化：量化百亿私募增加至44家，占比达49%，净增2家；主观百亿私募降至39家，占比缩至43%， 净减少2家。 具体来看，较6月底，7月有3家私募退出百亿阵营，均为主观私募；3家私募新晋百亿，分别是久期投资、千衍 私募、上海波克私募，除久期投资为主观私募外，其余2家皆为量化私募，核心策略分别为债券策略、股票策 略、多资产策略。 其中，上海波克私募相当"年轻" ...

一则停产消息彻底引爆。 8月11日，期货市场开盘，碳酸锂期货所有合约全线涨停。A股、港股锂矿股集体爆发，天齐锂业、江特电机、盛新锂能等多股涨停，赣锋锂业H股一度暴涨超 20%。消息面上，宁德时代8月11日在互动平台表示，公司在宜春项目采矿许可证8月9日到期后已暂停了开采作业。 有分析人士指出，此次停产对碳酸锂的供需平衡利好较大。在三季度碳酸锂供需紧平衡的背景下，此次停产或造成单月数千吨的供应缺口。供给扰动叠加传统补库 季节来临，锂价短期反弹空间较大，碳酸锂涨价有望带动锂电产业链整体价格与盈利的修复。 8月11日，商品期货开盘，碳酸锂期货所有合约全线涨停。其中主力合约开盘直接涨停，涨幅为8%，报81000元/吨。 A股开盘后，锂矿股集体大涨，截至午间收盘，天齐锂业、江特电机、盛新锂能涨停，中矿资源、赣锋锂业、永杉锂业大涨超9%，融捷股份、盐湖股份、雅化集 团、西藏矿业、天华新能等个股跟涨。港股锂业股亦全线大涨，赣锋锂业一度暴涨超20%，天齐锂业一度大涨超18%。 另外，周一早盘澳洲锂矿股也大幅走强，其中Liontown资源有限公司股价一度暴涨超22%，Pilbara矿业有限公司大涨超17%，Mineral资源有 ...

美国大动作 美东时间8月10日，据美国国防部官网，美国国防部战略资本办公室宣布发放首笔直接贷款，用于加强美国工业基础并保护关键矿产供应链。作为国防部与 美国稀土矿所有者和运营商MP Materials于2025年7月达成的更广泛协议的一部分，美国国防部战略资本办公室提供了1.5亿美元（约合人民币11亿元）贷 款。 | | | 事关稀土，美国紧急出手。 美东时间8月10日，美国国防部宣布，向稀土矿所有人MP Materials提供1.5亿美元贷款，用于为MP Materials 位于加州芒廷帕斯的现有加工厂提升重稀土 分离能力。受此影响，MP Materials股价在夜盘交易中直线拉升，一度涨超3%。 MP Materials拥有美国唯一一座正在运营的稀土矿，据其最新披露的财报，今年第二季度，MP Materials的 镨钕 氧化物产量激增近120%，达到创纪录的 597吨，预计第三季度产量将环比增长10%至20%。在一系列利好政策的刺激下，其股价持续飙涨，年内累计涨幅已超过367%。 国防部负责研究与工程的副部长埃米尔·迈克尔表示："通过这笔贷款，我们正在采取果断行动，恢复国内关键矿产供应链，重振我们的工业基 ...

Core Viewpoint - The differences in fund contracts between new and old products have led to a significant performance divergence in public funds, particularly influenced by the inclusion of Hong Kong stocks in investment strategies [1][2][4]. Group 1: Performance Impact of Fund Contracts - A-shares funds that have incorporated Hong Kong stock investments into their contracts have significantly outperformed the market, with all top 20 A-share funds achieving over 70% returns year-to-date as of August 10 [3]. - The top-performing funds, established mostly after 2018, allow for up to 50% of their stock positions to be allocated to Hong Kong stocks, which has been a key factor in their success [3]. - Conversely, funds that do not permit Hong Kong stock investments have generally underperformed, with over 90% of the bottom 10 A-share funds lacking such provisions in their contracts [3]. Group 2: Manager Performance and Contract Limitations - Star fund managers have shown a stark performance split between their new and old funds, with new funds performing well while older funds lag behind due to restrictive contracts [5][6]. - Many of these older funds, established between 2004 and 2014, do not include Hong Kong stocks in their investment scope, limiting their ability to adapt to market opportunities [6]. - For instance, fund managers like Wu Yuanyi have seen their newer products, which include Hong Kong stocks, perform significantly better than older products that do not [6]. Group 3: Contract Modification Considerations - Modifying fund contracts to include Hong Kong stocks could address performance disparities, but this approach is contentious and not universally beneficial for all fund managers [7][8]. - Some fund managers express reluctance to modify contracts, citing unfamiliarity with the Hong Kong market and potential risks associated with expanding investment scopes [8]. - The decision to modify contracts often depends on the individual fund manager's expertise and investment strategy, leading some firms to prefer launching new Hong Kong-themed funds instead of altering existing contracts [7][8].

Core Viewpoint - The People's Bank of China conducted a 7-day reverse repurchase operation amounting to 112 billion yuan at an interest rate of 1.40%, maintaining the previous rate, while net liquidity was withdrawn by 432.8 billion yuan due to the maturity of 544.8 billion yuan in reverse repos [1][3]. Summary by Relevant Sections - **Operation Details** - The operation involved a total bid amount of 112 billion yuan, with the same amount being awarded [3]. - The interest rate for the 7-day reverse repurchase operation remained unchanged at 1.40% [1][3]. - **Liquidity Impact** - A total of 544.8 billion yuan in 7-day reverse repos matured today, leading to a net withdrawal of 432.8 billion yuan from the market [1].

日前，北京市纪委监委公布今年1月至7月查处违反中央八项规定精神问题统计指标表。截至7月31日，累计查处违反中央八项规定精神问题715起，批评教育帮助和 处理730人，其中局级11人、处级161人、科级及以下558人。 来源：北京日报 责编：罗晓霞 校对：赵燕 在被批评教育帮助和处理的730人中，给予党纪政务处分的569人，其中局级9人、处级97人、科级及以下463人。查处问题类型包括两大类，即形式主义、官僚主义 问题和享乐主义、奢靡之风问题。 | 问题类型 | 级别 | | | | | | | | | | | | | | | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 形式主义、官僚主义问题 | 享乐主义、奢靡之风问题 | | | | | | | | | | | | | | | | | | | | ...

编者按： 时代之笔擘画新章，金融活水润泽实体。在金融"五篇大文章"铺就的壮阔画卷中，证券业正以创新之墨 挥毫作答。这是服务国家战略的使命担当，更是深化金融供给侧改革的生动实践。证券业以"国之大 者"为经，以"民之关切"做纬，让金融血脉与实体经济同频共振，奏响中国式现代化的资本强音。证券 时报联合中国证券业协会，推出"做好'五篇大文章' 证券业作答进行时"系列专栏， 本篇为系列报道之 十四，敬请垂注。 金融"活水"如何浇灌科技创新"沃土"？银河证券的实践是不仅要提供资金支持，更要通过"投资+投行"的联动 生态，满足客户日益多元化、个性化、精细化的金融需求。 2024年，致力于为人造设施打造硅光神经感知系统的纤传科技，获得了银河证券直投子公司银河创新资本的领 投。该公司彼时尚处发展早期，但银河证券还是被其技术实力和发展潜力所打动。完成领投后，银河创新资本 还积极对接当地招商部门和银行等金融机构，为纤传科技争取更好的扶持政策和银行授信。 这是银河证券做好"科技金融"的一个缩影，也是长期主义价值观与硬科技创新规律的深度耦合。 聚焦科技创新，大力推进相关股债融资 银河证券近年来紧密围绕科技金融进行战略布局，以资本赋能创 ...