【导读】印度总理莫迪拥抱普京，特朗普，坐不住了 中国基金报记者 泰勒 大家好，简单关注一下特朗普跟印度关税的新消息。 9月1日， 上海合作组织成员国元首理事会第二十五次会议上午举行，时隔7年到访中国的印度总理莫迪出席会议并发言。 特朗普谈印度"削减关税至零"提议：时机已晚 9月1日晚间，美国总统特朗普表示，印度已经提出将对美国商品的关税降至零。 特朗普在"Truth Social"上发文称，印度提出将关税降至零，但为时已晚。印度本应早在多年前就降低他们的关税。 特朗普称，很少有人明白，美国和印度的贸易往来其实非常少，但印度和美国的贸易量却大得惊人。换句话说，印度向美国出售海量商品 ——美国是印度最大的"客户"——但美国卖给美国的东西却寥寥无几。到目前为止，这完全是一种单向的关系，几十年来一直如此。 特朗普称，原因在于，在此之前，印度对美国征收的关税高得离谱，是所有国家中最高的，以至于美国的企业根本无法进入印度市场销售 产品。这完全是一场单向的灾难！ 此外，印度的和军工产品大部分都从俄罗斯购买，从美国购买的却少之又少。他们现在提出要把关税降到零，但这已经太迟了。他们早好 几年就该这么做了。 莫迪拥抱普京，无视特 ...

Core Viewpoint - Ping An Bank aims to become "China's most outstanding and globally leading intelligent retail bank," focusing on a retail banking strategy that prioritizes efficiency while considering scale [2] Group 1: Retail Banking Strategy - Ping An Bank has introduced the concept of "efficiency first, scale considered" in its retail business, emphasizing the importance of asset management and basic wealth management as a "reservoir" for high-quality AUM (Assets Under Management) development [2][5] - The bank's current AUM stands at approximately 4.21 trillion yuan, with a need to increase the proportion of basic wealth management products to enhance overall wealth management quality [5] Group 2: Wealth Management Services - The bank's wealth management services are being upgraded to ensure customers feel more secure and assured when purchasing financial products, leveraging the strengths of Ping An Group, Ping An Wealth Management, and Ping An Bank [2][3] - In response to the low interest rate environment, wealth management is positioned as a "wealth ballast," with a focus on providing stable and secure financial products to help customers preserve and grow their wealth [5] Group 3: Differentiation in Wealth Management - Ping An Wealth Management aims to establish a competitive edge through three key service areas: flexibility in service, investment advisory, and investor education [8][9] - The introduction of the "Wealth Night Market" allows customers to trade outside traditional hours, addressing the needs of working individuals [8] - The use of AI technology in the "Ping An Wealth+" system provides timely insights and asset allocation analysis to alleviate customer anxiety during market fluctuations [8][9] Group 4: Industrialization and Platformization - Ping An Wealth Management is implementing an "industrialized and platformized" investment management approach to enhance product consistency and investment efficiency [11] - The industrialization process ensures that products within the same series maintain consistent risk-return characteristics, while platformization focuses on achieving absolute returns with clear investment guidelines [11] Group 5: Service Advantages - Ping An Bank's wealth management services are supported by a robust financial platform, a comprehensive product range, and a large team of over 5,000 wealth management professionals [13] - The bank offers a streamlined purchasing process through its mobile app, enhancing customer experience with quick transactions [13] - Customers are primarily seeking investment returns that exceed traditional savings rates without taking on excessive risk, indicating a cautious approach to market fluctuations [13]

【导读】*ST高鸿股票收盘价首次低于1元，存在面值退市风险 中国基金报记者 李智 再度拉响退市警报！ 9月1日，*ST高鸿发布公告称，公司今日股票收盘价为0.98元/股，首次低于1元，存在可能 因股价低于面值被终止上市的风险。 股票收盘价首次低于1元 *ST高鸿存在面值退市风险 9月1日，*ST高鸿发布公告称，9月1日，公司股票收盘价为0.98元/股，首次低于1元，存在 可能因股价低于面值被终止上市的风险。 根据相关规定，在深交所仅发行A股股票的上市公司，若连续20个交易日收盘价均低于1元， 深交所将终止其股票上市交易。因触及交易类强制退市情形而终止上市的股票不进入退市整 理期。 *ST高鸿表示，公司将全力配合中国证监会的相关工作，并积极行使听证或进行陈述、申辩等 合法权利，最终结果以中国证监会出具的正式处罚决定为准。 公开资料显示，今年上半年，*ST高鸿重点发展以智能网联生态产业、自主可信计算、政企数 智化为核心的数智化应用，以数字化运营、IDC运营、智算中心运营为核心的数智化服务。 截至9月1日收盘，*ST高鸿股价报0.98元/股，总市值为11亿元。 编辑：格林 校对：乔伊 存在重大违法强制退市风险 值得 ...

Core Viewpoint - BYD's August sales stagnated, while competitors like SAIC and Geely are rapidly increasing their electric vehicle sales, highlighting a shift towards pure electric models in the industry [2][6][8]. Sales Performance - In August, BYD's new energy vehicle sales reached 373,626 units, a year-on-year increase of 0.15% and a month-on-month increase of 8.52% [4][5]. - BYD's cumulative sales for the first eight months of 2025 were 2,863,876 units, reflecting a 23% year-on-year growth [4]. - In contrast, SAIC's new energy vehicle sales reached 129,771 units in August, up 49.89% year-on-year, while Geely's sales surged by 95.20% to 147,347 units [8][11]. New Energy Vehicle Trends - The new energy vehicle market is witnessing a clear trend towards pure electric models, as evidenced by the performance of companies like NIO and Xpeng [5][20]. - NIO's August deliveries reached 31,300 units, marking a 55.16% year-on-year increase, while Xpeng delivered 37,700 units, a 168.66% increase [17][20]. - Li Auto's deliveries fell below 30,000 units for the first time, indicating a shift in consumer preference towards pure electric vehicles [5][25]. Competitive Landscape - Leap Motor led the new car-making forces with 57,100 deliveries in August, reflecting an 88.31% year-on-year increase [15]. - Xpeng and NIO are also seeing significant growth, with both surpassing 30,000 deliveries in August, while Li Auto struggles to maintain its previous momentum [5][20]. - The competitive landscape is intensifying, with companies like Leap Motor and Xpeng focusing on international expansion and new model launches to capture market share [14][15]. Future Outlook - BYD's overseas sales peaked in June but have since declined, indicating potential challenges in maintaining growth in international markets [8]. - The industry is expected to continue evolving towards pure electric vehicles, with advancements in technology and infrastructure reducing consumer concerns about range anxiety [24].

会财局发现，王天泽在进行审计时，于收入确认及外部确认函证的相关审计程序出现多项缺 失。这些缺失导致其未能取得充分适当的审计证据，且显示其在应对与收入相关的重大错报 风险时欠缺专业怀疑态度。 据香港会计及财务汇报局官网信息，会财局谴责德勤及其两名项目合伙人就两间前香港上市 公司（天合集团、桑德国际集团）的审计存在多项缺失，并处以罚款逾港币190万元。其中， 王天泽为天合集团2011年度、2012年度及2013年度审计的项目合伙人。 【导读】交通银行独立非执行董事王天泽遭公开谴责 被处以41.6万港元罚款 中国基金报记者 晨曦 9月1日晚间，交通银行在港交所发布公告称，2025年8月28日，（香港）会计及财务汇报局 对公司独立非执行董事王天泽作出了谴责。并处以罚款41.6万港元。 会财局称，受规管者已悉数承认违规行为，并主动与会财局商讨及达成早期和解，所以获酌 情在每宗个案中减轻罚款20%。 交通银行表示，鉴于会财局没有发现王天泽的失当行为属有意、不诚实或蓄意，且王天泽并 无被纪律处分的记录，董事会认为前述事件不会对王天泽继续履行其作为公司独立非执行董 事的能力造成影响。 公开信息显示，王天泽出生于1964年，中 ...

Core Viewpoint - The company Sierte is under investigation by the China Securities Regulatory Commission (CSRC) for suspected violations of information disclosure laws, which may impact its financial reporting and operations [5][7]. Group 1: Investigation Details - On September 1, Sierte announced that it received a notice from the CSRC regarding the initiation of an investigation due to suspected information disclosure violations [5]. - As of September 1, Sierte's stock price was 5.45 yuan per share, with a total market capitalization of 4.7 billion yuan [5]. - The company has 45,000 shareholders as of the end of the second quarter [5]. Group 2: Previous Regulatory Actions - In April 2023, the CSRC's Anhui Bureau imposed administrative measures on Sierte, requiring corrections due to discrepancies in labor project business and cost accounting from 2021 to 2023 [9]. - The Anhui Bureau mandated Sierte to recover misappropriated funds and improve internal controls to prevent similar issues in the future [9]. - The company reported that certain former management personnel were involved in fabricating costs and misappropriating funds, leading to a police report for suspected embezzlement [9][10]. Group 3: Financial Impact and Future Considerations - The ongoing investigation may lead to further financial impacts on Sierte's financial statements for the first half of 2025, as the investigation into the embezzlement case is still unresolved [10]. - The company acknowledged that the scope of the investigation could expand, potentially affecting previous financial reports [11]. - Sierte specializes in the research, production, and sales of various fertilizers, focusing on quality improvement and green efficiency [11].

Core Viewpoint - The article emphasizes the importance of investor protection and financial literacy as foundational elements for the stability and development of the financial market, highlighting the commitment of Everbright Securities to an "investor-centric" philosophy through innovative educational services [2]. Group 1: Investor Education Initiatives - Everbright Securities has established a comprehensive investor education service network that integrates both online and offline platforms, aiming to disseminate financial knowledge across various demographics [2]. - The company promotes principles of "rational investment," "value investment," and "long-term investment," encouraging investors to adopt a "spare money investment" approach to avoid being swayed by short-term market trends [4]. - AI technology is leveraged in the development of educational content, transforming complex investment concepts into engaging short videos, thereby lowering the barriers to understanding and fostering a culture of rational and long-term investment [4]. Group 2: Community Engagement and Safety - The company actively collaborates with local party service centers to conduct diverse offline activities focused on macroeconomic analysis, investment knowledge dissemination, and financial fraud prevention [8]. - Educational sessions have been organized in various locations, such as community centers, where professionals simplify complex economic topics and provide guidance on navigating the current economic landscape [8][10]. - Everbright Securities has conducted 1,178 educational events since 2025, reaching nearly one million participants, with a focus on practical financial knowledge and fraud prevention strategies [12]. Group 3: Youth Financial Literacy - In schools, Everbright Securities has implemented a series of financial literacy programs that cover essential topics such as currency recognition, savings planning, and investment basics, using innovative teaching methods to engage students [14]. - The company aims to instill a sense of rational investment and risk awareness among young learners through relatable case studies and interactive simulations [14]. Group 4: Future Goals - Everbright Securities is committed to maintaining its mission of "finance for the people," focusing on actual investor needs and striving to create a high-quality, efficient, and empathetic educational system [16].

【导读】金价飙升，再创历史新高，基金经理解读投资机会 中国基金报记者 张燕北 孙晓辉 国际金价再刷新历史高点。 9月1日上午，COMEX黄金主力合约价格快速拉升，最高触及3552.4美元/盎司，越过8月高 点再创新高。而国内期货市场，沪金主力合约2510早间大涨，盘中突破800元/克。 高位震荡近半年后，近期国际金价重拾升势。受访公募机构及人士普遍认为，黄金 在消化了 前期美国经济数据反弹和关税冲突缓和带来的利空后，近期开始重新受降息驱动进入上行行 情。展望后市，黄金具备进一步上行的空间，但需警惕市场提前交易降息预期。 金价创历史新高 黄金股全线飙涨 9月第一个交易日，COMEX黄金价格盘中最高冲抵3552.4美元/盎司，突破了8月初创下的 3534.1美元/盎司的历史高点。 受国际金价上涨提振，A股贵金属板块大幅领涨。Wind数据显示，截至收盘，中金黄金、湖 南黄金、湖南白银、西部黄金涨停，晓程科技涨超13%，赤峰黄金涨超8%，山东黄金、招金 黄金涨超7%。 | 名称 | 现价 | 涨跌 | 涨跌幅 | 年初至今 | | --- | --- | --- | --- | --- | | 伦敦金现 | 3472 ...

Core Viewpoint - The article discusses the correct pinyin spelling of "陕西" as "Shaanxi" to distinguish it from "山西" (Shanxi), highlighting the importance of cultural identity and clarity in geographical naming [2][9]. Group 1 - The recent discussion was sparked by a post from a visitor at the Shaanxi History Museum, questioning the pinyin spelling of "陕西" as "Shaanxi" instead of "Shanxi" [2][4]. - This confusion is not new; during the 14th National Games held in Shaanxi in 2021, many people also believed there was a spelling error, and the Shanghai Metro had to clarify the spelling multiple times [6]. - A local resident confirmed that "Shaanxi" has been known as the correct spelling since childhood, while many outsiders were unaware of this distinction [8]. Group 2 - The staff at the Shaanxi History Museum confirmed that "Shaanxi" is the official standard pinyin, aimed at avoiding confusion with "Shanxi" [8][9]. - Experts explained that the pinyin system used for "陕西" was developed by the National Administration of Surveying, Mapping and Geoinformation to help Chinese place names enter the international arena, utilizing a complex tonal marking system [10]. - The unique spelling "Shaanxi" reflects a distinct cultural identity, balancing international standards with regional cultural uniqueness, showcasing cultural confidence rooted in Chinese heritage [10].

Core Viewpoint - The Chinese securities industry showed significant growth in the first half of 2025, with a total operating income of 251.04 billion yuan, a year-on-year increase of 23.47%, and a net profit of 112.28 billion yuan, up 40.37% [2][4]. Revenue Structure - Proprietary trading remains the largest source of income, contributing 39.93% of total revenue, followed by brokerage business at 30.44%, net interest income at 10.45%, investment banking at 6.62%, and asset management at 4.52% [4][5]. Business Growth - Brokerage business experienced the highest growth rate, with revenue reaching 76.41 billion yuan, a year-on-year increase of 46.02%, and its revenue share increased by 4.7 percentage points [4][5]. Cost Reduction Initiatives - The industry actively implemented "fee reduction and commission lowering" policies, leading to a decrease in the average net commission rate for securities trading to 0.0215% [5]. Asset Management Optimization - The total scale of asset management business reached 9.35 trillion yuan, a year-on-year increase of 0.93%. The scale of actively managed products and public funds increased, while single asset management scale decreased to 3.08 trillion yuan, down 8.33% [7]. Wealth Management Transformation - The industry is accelerating its transformation in wealth management, with the scale of financial products sold reaching 3.8 trillion yuan, up 23.88%, and net income from investment consulting at 3.24 billion yuan, up 25.11% [7]. Equity Financing Growth - The securities industry facilitated equity financing of 735.08 billion yuan, a year-on-year increase of 460%, with 33 companies successfully listed through IPOs, raising 19.7 billion yuan [9]. International Expansion - The internationalization of securities companies is accelerating, with 36 overseas subsidiaries established, total assets reaching 1.64 trillion HKD, and cross-border business stock increasing by 21.37% [11].