Core Viewpoint - The article discusses the performance of deep value fund managers during different market conditions, highlighting their underperformance in the current bull market compared to growth-style fund managers, particularly in sectors like technology and innovation [4][20]. Group 1: Performance Comparison - In the past three years of bear markets, deep value fund managers performed relatively well, with many managing over 10 billion in assets [5]. - As of September 24, 2023, mainstream deep value fund managers like Xu Yan and Jiang Cheng had annual returns below 20%, while the average return of the CSI Active Equity Fund Index reached 34.11% [6][12]. - The article notes that deep value fund managers typically focus on low-valuation, stable companies, which leads to lower returns in bull markets but better performance in bear markets [14][19]. Group 2: Investment Philosophy - Deep value fund managers invest from an owner's perspective, focusing on long-term intrinsic value rather than short-term market fluctuations [16]. - They emphasize "quality and price," seeking high-quality companies that are undervalued due to market sentiment [17]. - Safety margins are crucial in their investment decisions, as they aim to protect against errors and downside risks [17][18]. Group 3: Market Trends and Strategies - The current bull market has favored growth-style funds, particularly those heavily invested in technology, with some achieving over 200% annual returns [7]. - Deep value fund managers often hold significant positions in traditional sectors like finance and real estate, which have underperformed in the current market [14][19]. - The article suggests that deep value funds should be considered for core portfolio allocations, especially for conservative investors [23][24]. Group 4: Selection Criteria - Not all low-valuation stocks represent deep value; some may belong to contrarian or cyclical strategies [29]. - Investors should focus on the stability of deep value fund managers' styles, as many have shifted towards growth or other strategies over time [36][38]. - The article advises that deep value funds can serve as a bottom-layer allocation in a diversified portfolio, balancing risk and return [24][26].

Core Insights - The article highlights the net inflow and outflow of capital in the Hong Kong stock market, with Alibaba-W, Ping An of China, and Tencent Holdings leading in net inflows, while China Mobile, China Telecom, and China Construction Bank experienced the highest net outflows [1][2]. Group 1: Net Inflows - Alibaba-W (09988) recorded a net inflow of 3.538 billion, representing a 15.32% increase in capital [2]. - Ping An of China (02800) saw a net inflow of 1.417 billion, with a 7.46% increase [2]. - Tencent Holdings (00700) had a net inflow of 1.126 billion, reflecting an 8.35% increase [2]. - Other notable net inflows include Xiaomi Group-W (01810) with 1.054 billion (5.89%), and Huahong Semiconductor (01347) with 0.835 billion (21.82%) [2]. Group 2: Net Outflows - China Mobile (00941) experienced the largest net outflow of -0.632 billion, a decrease of 34.07% [2]. - China Telecom (00728) had a net outflow of -0.356 billion, marking a 54.99% decrease [2]. - China Construction Bank (00939) saw a net outflow of -0.343 billion, with a 16.69% decrease [2]. - Other significant net outflows included China Pacific Insurance (02328) at -0.288 billion (-71.75%) and China Petroleum & Chemical Corporation (00386) at -0.218 billion (-54.09%) [2]. Group 3: Net Inflow Ratios - GX Hang Seng Technology (02837) led with a net inflow ratio of 388.65%, amounting to 16.3293 million [3]. - Honghua Wisdom Energy (01083) followed with a net inflow ratio of 170.63%, totaling 25.2599 million [3]. - Eddycon Holdings (09860) had a net inflow ratio of 140.41%, with a total of 2.0992 million [3]. Group 4: Net Outflow Ratios - Baifu Global (00327) had the highest net outflow ratio of -119.25%, with a total outflow of -19.6923 million [3]. - Yidu Tech (02158) followed with a net outflow ratio of -86.66%, totaling -52.8381 million [3]. - Poly Property (06049) experienced a net outflow ratio of -80.89%, with an outflow of -13.7068 million [3].

截至目前，中国建设银行杭州分行科技金融贷款余额超过600亿元、服务科技型企业近8000家。 （数据来源：中国建设银行杭州分行） 中国建设银行杭州分行围绕浙江省杭州市打造科创金融改革试验区、建设"5+5+5"现代化产业体系的规 划，积极构建五维一体推进体系，扎实做好科技金融大文章。 ·广告 2025年初，建设银行杭州分行党委将科技金融竞争力提升作为"书记项目"。围绕"科技金融 首选建 行"发展目标，杭州分行成立科技金融经营中心、组建科技金融专营客户经理队伍，加强科技型企业"专 注、专营、专业"服务。开展科技金融"育树成林"专项行动，为辖内各支行定制专属"科技树"，形成分 行"科技林"，实现科技企业营销成果可视化。 依托"圈链群"拓客和商投一体服务，建设银行杭州分行持续拓展服务科技企业，与杭州市相关部门签订 战略合作协议，打造科技金融生态圈，实现平台批量拓客。围绕"建杭智"科技金融产品和服务品牌体 系，推进"浙科联合贷""五位一体科创贷"等杭州特色创新产品；打造分行级科技金融数字化管理系统， 发布杭州分行科技金融发展指数；明确考核激励、分层分类走访、揭榜挂帅、科创工坊等支持科技金融 业务发展的"十大工作机制"，进 ...

Group 1 - In September, a total of 102 individuals were subjected to investigation by the Central Commission for Discipline Inspection and the National Supervisory Commission [1] - Notable figures under investigation include Jiang Deguo, former member of the Standing Committee of the Hebei Provincial Political Consultative Conference, and Ren Yuzhong, Vice President of Peking University [1] - Other individuals under investigation include Lin Jingzhen, former Vice President of the Bank of China, and Yi Huiman, Vice Chairman of the Economic Committee of the 14th National Committee of the Chinese People's Political Consultative Conference [1] Group 2 - 67 individuals received disciplinary and administrative penalties, including Long Xiang, former Secretary of the Party Leadership Group and Director of the Nanjing Municipal People's Congress, who was expelled from the Party and public office [2] - Other notable cases include Duan Chenggang, former Vice Chairman of the Chongqing Political Consultative Conference, and Zhou Derui, former member of the Tianjin Municipal Committee [2] - Additional individuals facing expulsion from the Party include Xu Jie, former Secretary of the Party Committee and President of the Henan Branch of the Industrial and Commercial Bank of China, and Guan Xinmin, former Secretary-General of the Xining Municipal Committee in Qinghai Province [2]

Core Insights - The Construction Bank's Yancheng branch is committed to "ecological priority and green development," integrating its mission into local development through product innovation, project empowerment, and ecological protection [1][16] - As of the end of August, the green loan balance of the bank reached nearly 50 billion yuan, reflecting a growth of over 20% since the beginning of the year [1] Green Finance Activation - A significant EOD project with a total investment of nearly 3 billion yuan has been selected as a pilot for ecological environment-oriented development in Jiangsu Province, marking a benchmark for Yancheng's exploration of "ecology + industry" integration [2] - The bank has formed a cross-departmental professional service team to provide tailored financing solutions, successfully forming a syndicate of 2 billion yuan, with the bank covering 1 billion yuan of the syndicate share [4] Financial Support for Green Enterprises - The bank has launched specialized products such as "Environmental Loan," "Hazardous Waste Loan," and "Carbon Finance" to address the diverse financing needs of green industries, with a total of 1.029 billion yuan allocated to "Environmental Loans" [4][5] - The bank's green financial tools include green credit, green bonds, and green funds, with a focus on clean energy, energy conservation, and ecological environment governance [5] Blue Finance Empowering Marine Economy - The bank has facilitated a 6.79 billion yuan loan for a 1 million kilowatt offshore wind power project, demonstrating rapid financial service capabilities [6] - The introduction of the "Su Nong Dan · Fishing Boat Loan" aims to alleviate financing difficulties for fishermen, with the first loan of 2 million yuan successfully issued [6][7] Comprehensive Financial Services - The bank has established a professional team to provide customized services for key projects in Yancheng's green industry upgrade and marine economy development, ensuring financial support for ecological governance and industrial development [13][14] - A digital platform for green finance management has been launched, enhancing the efficiency and precision of green credit services [15] Commitment to Social Responsibility - The bank actively promotes green finance knowledge and awareness through community outreach and educational initiatives, fostering a culture of environmental responsibility [15][16] - The bank aims to continue its efforts in supporting the development of a green low-carbon demonstration zone and a modern marine economy in Yancheng [16]

Core Viewpoint - The Sichuan branch of China Construction Bank is actively integrating ecological civilization values into financial services, supporting the province's transition to green development and high-quality growth through various financial initiatives [1][9]. Group 1: Resource Security - Sichuan is rich in strategic resources, including minerals and natural gas, and is crucial for national ecological security [1]. - The Hongge South Vanadium-Titanium Magnetite Mine in Panzhihua, recognized as the largest and most valuable in China, is a key project under the national "Cornerstone Plan" aimed at enhancing resource security [1][3]. - China Construction Bank's Chengdu Ninth Branch is providing tailored financial solutions to support the development of this strategic project, with 3.8 billion yuan already disbursed [3]. Group 2: Green Transportation - The G42 Nanchong to Chengdu Expressway expansion project, spanning 240 kilometers and costing over 36.8 billion yuan, is vital for regional integration and economic efficiency [5]. - China Construction Bank's Chengdu Xinhua Branch has taken a leading role in financing this project, providing 14.7 billion yuan in credit, nearly 50% of the total financing needed [5][6]. - This project is the first approved PPP loan under the new financing mechanism, setting a benchmark for future infrastructure projects [6]. Group 3: Low-Carbon Transition - The Sichuan branch is promoting the integration of green finance and technology to support the national "dual carbon" goals [8]. - A recent 150 million yuan loan for a high-tech enterprise's facility upgrade exemplifies the bank's commitment to reducing financing costs and maximizing policy synergies [6][8]. - The bank is enhancing its green loan recognition processes and monitoring mechanisms to ensure effective support for local green industries [8][9]. Group 4: Investment Initiatives - In 2023, the Sichuan branch collaborated with investment firms to establish the Chengdu Jianyuan Chuan Investment Green Low-Carbon Equity Fund, aimed at driving the province's green transition [9]. - The bank is committed to directing funds towards energy conservation, clean energy, and ecological restoration projects, contributing to the broader goals of ecological civilization [9].

Core Insights - The top three companies by Hong Kong Stock Connect holding ratios are Green Power Environmental (70.12%), China Telecom (69.73%), and COSCO Shipping Energy (69.52%) [1][2] - Alibaba-W, Tracker Fund of Hong Kong, and Tencent Holdings saw the largest increases in holding amounts over the last five trading days, with increases of +36.52 billion, +14.31 billion, and +11.54 billion respectively [1][2] - The largest decreases in holding amounts were observed in China Mobile (-6.21 billion), China Telecom (-3.50 billion), and China Construction Bank (-3.35 billion) [1][3] Group 1: Hong Kong Stock Connect Holding Ratios - Green Power Environmental (01330) has a holding ratio of 70.12% with 284 million shares [2] - China Telecom (00728) has a holding ratio of 69.73% with 9.678 billion shares [2] - COSCO Shipping Energy (01138) has a holding ratio of 69.52% with 901 million shares [2] Group 2: Recent Increases in Holdings - Alibaba-W (09988) increased by +36.52 billion with a change of +20.56 million shares [2] - Tracker Fund of Hong Kong (02800) increased by +14.31 billion with a change of +52.11 million shares [2] - Tencent Holdings (00700) increased by +11.54 billion with a change of +1.71 million shares [2] Group 3: Recent Decreases in Holdings - China Mobile (00941) decreased by -6.21 billion with a change of -7.46 million shares [3] - China Telecom (00728) decreased by -3.50 billion with a change of -66.46 million shares [3] - China Construction Bank (00939) decreased by -3.35 billion with a change of -45.96 million shares [3]

Core Insights - The article highlights the top short-selling stocks in the market, indicating significant investor sentiment and potential market movements [1][2][3] Short Selling Ratios - The highest short-selling ratios are observed in Li Ning-R and Great Wall Motors-R, both at 100.00%, followed by Hang Seng Bank-R at 82.27% [1][2] - Other notable stocks with high short-selling ratios include Hong Kong Exchanges-R at 80.09% and Baidu Group-SWR at 75.91% [2] Short Selling Amounts - Alibaba-SW leads in short-selling amount with 1.698 billion, followed by Tencent Holdings at 1.369 billion and Zijin Mining at 1.051 billion [3] - Other significant short-selling amounts include Meituan-W at 1.029 billion and Xiaomi Group-W at 0.952 billion [3] Deviation Values - The highest deviation values are recorded for Mao Ge Ping at 45.59%, followed by an unnamed stock at 43.36% and Greentown China at 41.28% [1][3] - Other stocks with notable deviation values include Baidu Group-SWR at 41.16% and Sunshine Insurance at 41.10% [3]

智通财经APP获悉，9月26日,阿里巴巴-W（09988）、盈富基金（02800）、腾讯控股（00700）南向资 金净流入金额位列市场前三，分别净流入34.60 亿、14.02 亿、11.06 亿 中国移动（00941）、中国电信（00728）、建设银行（00939）南向资金净流出金额位列市场前三，分 别净流出-6.35 亿、-3.59 亿、-3.38 亿 在净流入比方面，GX恒生科技（02837）、绿色动力环保（01330）、安井食品（02648）以462.02%、 156.44%、127.61%位列市场前三。 在净流出比方面，天津创业环保股份（01065）、中国电信（00728）、中国财险（02328） 以-123.57%、-113.73%、-110.28%位列市场前三。 | 股票名称 | 净流入比↓ | 净流入(元) | 收盘价 | | --- | --- | --- | --- | | GX恒生科技(02837) | 462.02% | 1614.44 万 | 7.760（-1.08%） | | 绿色动力环保(01330) | 156.44% | 321.17 万 | 5.100（+0.59%） | ...

一、核准王晓亮中国建设银行临汾分行行长的任职资格。 二、中国建设银行山西省分行应要求上述核准任职资格人员严格遵守金融监管总局有关监管规定，自中 国建设银行政许可决定作出之日起3个月内到任，并按要求及时报告到任情况。未在上述规定期限内到 任的，本批复文件失效，由决定机关办理行政许可注销手续。 2025年9月28日，临汾金融监管分局发布批复称，《中国建设银行山西省分行关于王晓亮拟任临汾分行 行长任职资格的请示》》（建晋报〔2025〕205号）收悉。经审核，现批复如下： 三、中国建设银行山西省分行应督促上述核准任职资格人员持续学习和掌握经济金融相关法律法规，牢 固树立风险合规意识，熟悉任职岗位职责，忠实勤勉履职。 ...