Core Insights - The top three companies by stockholding ratio in the Hong Kong Stock Connect are China Telecom (71.90%), GCL-Poly Energy (69.96%), and Da Zhong Public Utilities (68.75%) [1][2] - The companies with the largest increase in stockholding over the last five trading days include SMIC (+1.092 billion), China Merchants Bank (+1.052 billion), and Hong Kong Exchanges and Clearing (+790 million) [1][2] - The companies with the largest decrease in stockholding over the last five trading days include China Mobile (-3.216 billion), Tencent Holdings (-1.107 billion), and the Tracker Fund of Hong Kong (-465 million) [1][2] Stockholding Ratios - China Telecom (00728) holds 99.79 million shares with a stockholding ratio of 71.90% [2] - GCL-Poly Energy (01330) holds 28.3 million shares with a stockholding ratio of 69.96% [2] - Da Zhong Public Utilities (01635) holds 36.7 million shares with a stockholding ratio of 68.75% [2] - Other notable companies in the top 20 include China Shenhua (66.39%) and China Merchants Energy (64.43%) [2] Recent Trading Activity - The top three companies with increased holdings in the last five trading days are: - SMIC (00981): +1.092 billion, +15.28 million shares [2][3] - China Merchants Bank (03968): +1.052 billion, +19.92 million shares [2][3] - Hong Kong Exchanges and Clearing (00388): +790 million, +1.93 million shares [2][3] - The top three companies with decreased holdings in the last five trading days are: - China Mobile (00941): -3.216 billion, -39.36 million shares [2][3] - Tencent Holdings (00700): -1.107 billion, -1.84 million shares [2][3] - Tracker Fund of Hong Kong (02800): -465 million, -18.01 million shares [2][3]

关于变更公司网站域名及投资者联系邮箱的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 国联民生证券股份有限公司（以下简称"公司"）为适应发展需要，便于投 资者、客户及社会公众更好地了解公司信息，自 2026 年 1 月 1 日起，公司正式 启用新的网站域名及投资者联系邮箱，原网站域名及投资者联系邮箱将停止使用， 具体变更情况如下： | 变更事项 | 变更前 | 变更后 | | --- | --- | --- | | 网站域名 | www.glsc.com.cn | www.glms.com.cn | | 投资者联系邮箱 | glsc-ir@glsc.com.cn | ir@glms.com.cn | 除上述变更事项外，公司投资者电话和传真等联系方式保持不变，敬请广大 投资者注意。由此带来的不便，敬请谅解。 证券代码：601456 证券简称：国联民生 公告编号：2025-085 号 国联民生证券股份有限公司 特此公告。 国联民生证券股份有限公司董事会 2025 年 12 月 31 日 1 ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （股份代號：01456） （於中華人民共和國成立的股份有限公司） 變更公司網站域名及投資者聯繫郵箱 | 網站域名 | www.glsc.com.cn | www.glms.com.cn | | --- | --- | --- | | 投資者聯繫郵箱 | glsc-ir@glsc.com.cn | ir@glms.com.cn | 國聯民生證券股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈，為適應發展需 要，便於投資者、客戶及社會公眾更好地了解本公司信息，自2026年1月1日起，本公 司正式啟用新的網站域名及投資者聯繫郵箱，原網站域名及投資者聯繫郵箱將停止 使用。本公司提交以供香港聯合交易所有限公司網站發佈的所有公告、通告及其他 文件，亦將於本公司新網站發佈。具體變更情況如下： 變更事項 變更前 變更後 中國江蘇省無錫市 2025年12月31日 截至本公告日期，本公司執行董事為葛小波先生；本公司非 ...

Group 1: Consumer Subsidy Policy - The National Development and Reform Commission and the Ministry of Finance announced a subsidy policy for consumer electronics and appliances, effective from 2026, providing a 15% subsidy on the sales price for specific products [1][4] - Consumers can receive a subsidy of up to 1,500 yuan for each qualifying appliance, and up to 500 yuan for each qualifying digital product, with a limit of one subsidy per product category per consumer [1][4] - The policy also supports the replacement of vehicles, offering subsidies for consumers who trade in their cars for new energy vehicles or low-displacement fuel vehicles [4] Group 2: Market Performance - COMEX silver futures rose by 7.88%, while the Dow Jones Industrial Average fell by 0.2%, closing at 48,367.06 points [2] - The S&P 500 index decreased by 0.14%, and the Nasdaq Composite index dropped by 0.24% [2] - Major tech stocks showed mixed performance, with Intel and Meta both gaining over 1% [2] Group 3: Corporate Announcements - China Aircraft Leasing announced the purchase of 30 Airbus A320neo aircraft, with deliveries expected to occur in phases until 2033 [9] - China Aluminum International plans to acquire a 51% stake in Yunnan Yun Aluminum Logistics for approximately 264 million yuan [15] - Zijin Mining Group expects a net profit of approximately 51-52 billion yuan for 2025, representing a year-on-year increase of about 59%-62% [18]

Group 1 - The China Securities Association announced the 2025 evaluation results for the quality of investment banking services of securities firms, with 12 firms rated as Class A [1] - The Class A firms include Dongwu Securities, Guojin Securities, Guotai Junan, and others, while 66 firms are rated Class B and 15 firms Class C [1] - The evaluation results indicate a growing differentiation in the industry, with a "Matthew Effect" becoming more pronounced, promoting a more standardized and professional investment banking environment [1] Group 2 - Over 160 public funds have doubled their returns in 2025, with the top-performing fund, Yongying Technology Smart Mixed Fund A, achieving a return of 240.56% [2] - Despite the overall positive market performance, some funds, particularly in the biopharmaceutical and consumer sectors, have reported negative returns, highlighting significant performance disparities [2] - The strong stock market has boosted fund performance, particularly in technology, while caution is advised regarding sector rotation risks [2] Group 3 - Guolian Minsheng plans to publicly transfer 33.4% of its stake in China Ocean Fund, with an assessed value of 1.53 billion yuan, reflecting a 92.87% appreciation [3] - The transfer aims to optimize the company's asset structure and focus on core business areas, enhancing market expectations for equity value reassessment [3] - The move is expected to accelerate the survival of the fittest among funds, reshaping the competitive landscape in the industry [3]

Core Viewpoint - Guolian Minsheng announced the approval of multiple proposals, including the operational goals plan and the management team assessment scheme at the second meeting of the sixth board of directors [1] Group 1 - The sixth board of directors of Guolian Minsheng held its second meeting on December 30 [1] - The meeting resulted in the approval of the operational goals plan [1] - The management team assessment scheme was also approved during the meeting [1]

Core Viewpoint - The article emphasizes the importance of utilizing the Jin Qilin analyst reports for stock trading, highlighting their authority, professionalism, timeliness, and comprehensiveness in identifying potential thematic investment opportunities [1]. Group 1 - The Jin Qilin analyst reports are presented as a reliable source for investors looking to make informed decisions in the stock market [1]. - The reports are characterized by their professional analysis and timely updates, which are crucial for capitalizing on market trends [1]. - The focus is on helping investors uncover potential opportunities within various themes in the market [1].

Core Viewpoint - Guolian Minsheng Securities plans to publicly transfer its 33.409% stake in China Oceanwide Fund Management Co., Ltd. The transfer aims to optimize resource allocation and aligns with the company's overall operational needs [1] Group 1: Transaction Details - The transfer will be conducted through a public listing, and the initial price will not be lower than the assessed value approved by state-owned assets [1] - After the completion of the transaction, Guolian Minsheng Securities will no longer hold any shares in China Oceanwide Fund [1] Group 2: Conditions and Uncertainties - The transaction requires the buyer to simultaneously acquire shares held by both Guolian Minsheng Securities and France's Rothschild Bank in China Oceanwide Fund [1] - There are uncertainties regarding the completion of the transaction, the final transaction price, and whether the buyer will obtain public fund shareholder qualifications [1]

Core Viewpoint - The company plans to optimize its resource allocation by transferring its 33.409% stake in China Oceanwide Fund Management Co., Ltd. through a public listing and joint transfer with France's Rothschild Bank [1] Group 1: Transfer Details - The joint transfer will involve a total of 58.409% of the shares in China Oceanwide Fund, requiring the buyer to acquire both the company's and Rothschild Bank's stakes [1] - The initial listing price for the company's 33.409% stake will not be lower than the assessment results approved by state-owned assets [1] Group 2: Shareholding Structure - China Oceanwide Fund is a public fund management company in which the shareholding structure is as follows: China Oceanwide Trust Co., Ltd. holds 41.591%, the company holds 33.409%, and Rothschild Bank holds 25.000% [1] - After the transfer is completed, the company will no longer hold any shares in China Oceanwide Fund [1]

Core Viewpoint - Guolian Minsheng (601456.SH) announced a strategic move to optimize resource allocation by transferring its 33.409% stake in Zhonghai Fund through a public listing and joint transfer with France's Rothschild Bank, which holds a 25% stake [1] Group 1: Company Structure - Zhonghai Fund's ownership structure includes Zhonghai Trust holding 41.591%, Guolian Minsheng holding 33.409%, and Rothschild Bank holding 25% [1] Group 2: Transfer Details - The joint transfer of shares will total 58.409%, requiring the buyer to acquire both Guolian Minsheng's and Rothschild Bank's stakes in Zhonghai Fund [1] - The initial listing price for the 33.409% stake will not be lower than the evaluation results approved by state-owned assets [1] - There is uncertainty regarding the final transaction price and the identity of the buyer [1]