Core Viewpoint - Maiwei Biotech is focusing on its innovative drug business development (BD) in 2025, aiming for breakthroughs in key pipeline projects such as Nectin-4 ADC, while acknowledging uncertainties in the BD business [1][2]. Group 1: Business Development (BD) Focus - 2025 is a critical year for the company's innovative drug BD business, with a focus on achieving substantial project outcomes [2]. - The company plans to expand its BD pipeline in 2026 to include new generation TCE platform-based projects, which are expected to have global differentiation advantages [2]. - The Nectin-4 ADC is currently in clinical research for multiple indications, with over 800 patients enrolled, and is leading in development progress globally for several indications [1][2]. Group 2: Clinical Research Progress - Three key Phase III clinical trials are ongoing: UC monotherapy, UC combination therapy, and CC monotherapy, with plans for interim analysis in 2026 and 2027 [3]. - The TNBC ADC therapy is in Phase II, with plans to initiate a small sample clinical trial in the U.S. in 2025 [3][4]. - The company is also advancing clinical trials for UC perioperative combination therapy and CC combination therapy, both of which have received approval [3]. Group 3: Product Advantages and Market Potential - The MW282 (Nectin-4 ADC) utilizes a new conjugation technology and has shown significant safety and efficacy, with a large patient population in need of new therapies for TNBC [4][5]. - The MW19 (anti-ST2 monoclonal antibody) is the second globally in clinical development for its target and is expected to read out Phase II data in late 2025 [5]. - The 9MW3011 (for polycythemia vera) is the first targeted TMPRSS6 monoclonal antibody in China, with a clinical trial planned for 2025, and is expected to offer better safety and convenience compared to existing treatments [6]. Group 4: Stock Lock-up and Shareholder Commitments - The company will not have any lock-up stock releases in July 2025, as shareholders have committed to not reducing their holdings until the company achieves profitability [7][8].

翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 FF305 公司名稱： 國泰海通證券股份有限公司(「本公司」) 呈交日期： 2025年6月30日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 A | | 於香港聯交所上市 | 否 | | | 證券代號 (如上市) | | 說明 | A股於上海證券交易所上市(證券代號: 601211) | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份 ...

Group 1 - The core viewpoint of the article is the ranking of comprehensive securities firms based on their performance in the "Top Leaders in Listed Securities Firms" evaluation for 2024, with Guotai Haitong's Li Junjie ranking fourth among 50 listed securities firms [1][2] - The evaluation categorizes the firms into three groups: comprehensive securities firms (1-10), industry-featured development firms (11-20), and growth development firms (21-50), based on various performance metrics [1] - Guotai Haitong scored 89.50 points in the industry data evaluation, ranking third among eight evaluated comprehensive securities firms, indicating strong performance in company scale and third-party ratings [2] Group 2 - In 2024, Guotai Haitong reported a revenue scale of 43.397 billion yuan and total assets of 1,047.745 billion yuan, both ranking second among the 50 listed securities firms [2] - The company’s investment banking business has improved its rating, now positioned among the industry's top performers [2] - Li Junjie, born in August 1975, has held various significant positions in the financial sector and has been the president of Guotai Haitong since January 2024 [5]

FF305 翌日披露報表 (股份發行人 ── 已發行股份或庫存股份變動、股份購回及/或在場内出售庫存股份) 表格類別： 股票 狀態： 新提交 公司名稱： 國泰海通證券股份有限公司(「本公司」) 呈交日期： 2025年6月30日 如上市發行人的已發行股份或庫存股份出現變動而須根據《香港聯合交易所有限公司（「香港聯交所」）證券上市規則》(「《主板上市規則》」)第13.25A條 / 《香港聯合交易所有限公司GEM證券 上市規則》(「《GEM上市規則》」)第17.27A條作出披露，必須填妥第一章節 。 | 第一章節 | | | | | | | | --- | --- | --- | --- | --- | --- | --- | | 1. 股份分類 | 普通股 | 股份類別 A | | 於香港聯交所上市 | 否 | | | 證券代號 (如上市) | | 說明 | A股於上海證券交易所上市(證券代號: 601211) | | | | | A. 已發行股份或庫存股份變動 | | | | | | | | | | 已發行股份（不包括庫存股份）變動 | | 庫存股份變動 | | | | | 事件 | 已發行股份（不包括庫存股份 ...

新浪期货 根据交易所数据，截至6月30日收盘主力合约玻璃2509,涨跌-1.28%,成交量161.21万手，持仓数据显示前20席位呈现净 空，差额头寸为265604手。 玻璃期货全合约总计成交184.28万手，比上一日新增15.58万手。全合约前20席位多头持仓93.58万手，比上一日增加1.86万手。全 合约前20席位空头持仓123.27万手，比上一日增加6.80万手。 根据合并数据显示，多头前三席位为国泰君安，总持仓111659、中信期货，总持仓62441、方正中期，总持仓56377；空头前三席 位为国泰君安，总持仓297395、中信期货，总持仓118178、东证期货，总持仓107709； 主力合约前20席位中，多头增仓前三名分别是：中信建投、持仓45257、增仓5150，平安期货、持仓34648、增仓4146，徽商期 货、持仓42284、增仓3088；多头减仓前三名分别是：国泰君安、持仓88283、减仓-10123，中辉期货、持仓23960、减仓-2893， 东证期货、持仓40289、减仓-2860； 主力合约前20席位中，空头增仓前三名分别是：银河期货、持仓87002、增仓17597，申银万国、持仓5 ...

Group 1 - The "Leadership TOP List" for listed securities firms was released, ranking 50 firms based on their revenue scale for 2024 [1] - The ranking categorizes firms into three groups: comprehensive securities firms (1-10), industry-featured development firms (11-20), and growth development firms (21-50) [1] - The evaluation considers multiple dimensions including performance, peer evaluation, and online presence, with a scoring model based on five dimensions: foresight, control, innovation, compliance, and influence [1] Group 2 - Li Junjie from Guotai Haitong Securities received a peer evaluation score of 88.78, ranking 11th in the industry [1] - The highest score in compliance was 94.48, while the lowest score in innovation was 85.62 [1] - In the foresight dimension, the firm ranked 12th, with the lowest score being 7; in control, it ranked 15th with a minimum score of 6; in innovation, it ranked 13th with a minimum score of 6; in compliance, it ranked 6th with a minimum score of 7; and in influence, it ranked 10th with a minimum score of 8 [1] Group 3 - Li Junjie was born in August 1975 and holds a Bachelor's degree in Literature and a Master's degree in Economics [3] - He has held various positions including President of Guotai Junan and has extensive experience in financial management and administration [3]

Group 1: Market Overview - The global IP toy market is expected to reach a GMV of 525.1 billion yuan in 2024, with China and Southeast Asia projected to achieve GMVs of 75.6 billion yuan and 18.1 billion yuan respectively, and CAGRs of 17.2% and 20% from 2024 to 2029 [1] Group 2: Upstream IP Development - Pop Mart's original IPs have gained global popularity, expanding from Molly in 2017 to multiple successful IPs by 2022, with projected revenues of 8.08 billion yuan from the top five IPs in 2024, a year-on-year increase of 130.7% [1] - The fastest-growing IPs include The Monsters, Hirono, and Molly, with growth rates of 726.6%, 106.9%, and 105.2% respectively [1] - Alibaba's IP licensing platform, Aliyu, has signed contracts with hundreds of quality IPs since its establishment in 2016, leveraging Alibaba's e-commerce platform to connect brands and consumers [1] Group 3: Midstream Development - KAYOU leads the domestic card game industry with a GMV of 18.7 billion yuan in 2024, capturing a market share of 71.1% [2] - BLUKO has emerged as the top player in the building block toy sector with a GMV of 1.7 billion yuan in 2023, holding a market share of 30.3% [2] - Copper Master, a leading brand in copper cultural and creative products, is projected to exceed 500 million yuan in GMV in 2024, with a market share of 35% [2] - 52TOYS operates with both proprietary and licensed IPs, planning to have 35 proprietary IPs and 80 licensed IPs by the end of 2024, with over 500 new SKUs launched annually [2] Group 4: Downstream Channels - Pop Mart has set a benchmark for direct sales models, increasing its number of stores from 329 to 401 between 2022 and 2024, while TOPTOY's stores grew from 8 to 40 [3] - In 2024, the GMV for Pop Mart and TOPTOY stores in mainland China is expected to be 3.83 billion yuan and 1.15 billion yuan respectively, with single-store revenues of 10.02 million yuan and 5.42 million yuan [3] - The success of Pop Mart is attributed to the strong sales of its proprietary IP products like The Monsters and Molly, resulting in significantly higher store efficiency [3]

Aviation Industry - The airline sector is expected to see a rise in ticket prices and profitability due to limited capacity for summer flights and strong demand for family travel [1] - In May, domestic oil-inclusive ticket prices turned positive for the first time, with June showing a slight year-on-year increase [1] - The airline industry is entering a low supply growth phase, with demand performing better than market concerns since April, leading to a positive supply-demand outlook for the next two years [1] Oil Shipping Industry - The oil shipping sector is experiencing a decline in freight rates due to the easing of geopolitical tensions, with VLCC TCE rates dropping from $76,000 to $34,000 [2] - The estimated average VLCC TCE for oil shipping companies in Q2 2025 is projected to be $42,000, slightly lower than the $44,000 in the same period of 2024, indicating improved year-on-year performance [2] - The oil shipping supply-demand balance is expected to remain favorable over the next two years, supported by potential oil price declines [2] Market Highlights - The Strait of Hormuz, a critical chokepoint for global oil transport, remains stable despite recent geopolitical tensions, with a low probability of disruption [3] - The Strait accounts for nearly 30% of global oil maritime trade, with over 80% of Middle Eastern crude oil exports passing through it [3] - Recent conflicts between Iran and Israel led to a slight decrease in oil passage volume, but overall traffic remained stable [3]

国泰海通：更多香港券商或将布局虚拟资产业务 金十数据6月30日讯，国泰海通发布研报称，未来将有更多香港券商布局虚拟资产业务。此外，近期市 场逐步进入业绩窗口期，券商板块盈利有望超预期。稳股市背景下，继续推荐低估值且欠配的权重股的 机会，非银权重股从"基本面的边际思维"转向"总量风险收益比的总量思维"。尤其是近期鼓励红筹和H 股回A的政策下，港股的非银权重股更为受益。 ...

Group 1 - The core viewpoint is that more Hong Kong brokerages are expected to enter the virtual asset business, driven by recent policy support and market conditions [1][2] - The Hong Kong government has released the "Digital Asset Policy Declaration 2.0," aiming to establish the region as a global innovation center for digital assets, with strategies to optimize laws and regulations, expand tokenized product categories, and promote application scenarios [2] - The brokerage sector is entering an earnings window, with expectations that profitability may exceed forecasts due to favorable market conditions [1][2] Group 2 - Recent fluctuations in the ten-year government bond yield, which has been between 1.6% and 1.7%, are anticipated to influence the life insurance sector, potentially leading to a reduction in the preset interest rate for life insurance [2]