Core Insights - On December 31, 2025, Alibaba-W (09988), Tencent Holdings (00700), and Sanhua Intelligent Control (02050) ranked as the top three companies by trading volume in the Southbound Stock Connect, with trading amounts of 1.783 billion, 1.460 billion, and 1.259 billion respectively [1] - In the Shenzhen-Hong Kong Stock Connect, Tencent Holdings (00700), Alibaba-W (09988), and SMIC (00981) were the top three companies by trading volume, with amounts of 1.218 billion, 1.201 billion, and 0.767 billion respectively [1] Southbound Stock Connect Trading Activity - The top three active companies in the Southbound Stock Connect by trading amount were: - Alibaba-W (09988): 1.783 billion with a net buy of -79.182 million - Tencent Holdings (00700): 1.460 billion with a net buy of -139 million - Sanhua Intelligent Control (02050): 1.259 billion with a net buy of 115 million [2] - Other notable companies included: - SMIC (00981): 1.202 billion with a net buy of 142 million - Zijin Mining (02899): 1.146 billion with a net buy of -590 million [2] Shenzhen-Hong Kong Stock Connect Trading Activity - The top three active companies in the Shenzhen-Hong Kong Stock Connect by trading amount were: - Tencent Holdings (00700): 1.218 billion with a net buy of -508 million - Alibaba-W (09988): 1.201 billion with a net buy of 179 million - SMIC (00981): 0.767 billion with a net buy of 249 million [2] - Other notable companies included: - Sanhua Intelligent Control (02050): 0.534 billion with a net buy of 93.908 million - Huahong Semiconductor (01347): 0.475 billion with a net buy of 69.942 million [2]

Group 1 - Northbound capital recorded a net purchase of 34.49 billion HKD in the Hong Kong stock market on December 31, with the Shanghai-Hong Kong Stock Connect contributing 30.97 billion HKD and the Shenzhen-Hong Kong Stock Connect contributing 3.51 billion HKD [1] - The total net purchase of Northbound capital for the year reached a historical high of 1.41 trillion HKD, significantly increasing from approximately 807.9 billion HKD in 2024 [1] - The most purchased stocks by Northbound capital included China Merchants Bank (03968), Industrial and Commercial Bank of China (01398), and China Construction Bank (00939) [1] Group 2 - Alibaba-W (09988) had a net purchase of 850 million HKD, while Tencent Holdings (00700) faced a net sell of 660 million HKD [2] - China Merchants Bank, Industrial and Commercial Bank of China, and China Construction Bank received net purchases of 7.24 billion HKD, 5.88 billion HKD, and 5.61 billion HKD respectively [4] - Semiconductor stocks also saw increased investment, with SMIC (00981) and Hua Hong Semiconductor (01347) receiving net purchases of 391 million HKD and 69.94 million HKD respectively [5] Group 3 - Xiaomi Group-W (01810) received a net purchase of 237 million HKD, supported by government policies promoting consumption [5] - Jiangxi Copper Co. (00358) had a net purchase of 158 million HKD, while Zijin Mining (02899) experienced a net sell of 682 million HKD [6] - UBTECH Robotics (09880) received a net purchase of 86.86 million HKD, as it announced plans to acquire a controlling stake in Fenglong Co. [6]

随着电商行业全面合规纳税政策落地，地处中国叠石桥国际家纺城的招商银行南通叠石桥支行，近期迎 来对公账户开立业务高峰。 作为标准零售专业网点，叠石桥支行迅速调整服务模式、优化人员配置，应对对公开户业务高峰。一方 面，优化岗位分工与流程节点，对公客户经理专注做好事前审核、风险排查与上门尽调，提前梳理商户 资料中的关键信息，减少临柜处理时间；另一方面，推行"错峰衔接"服务机制，运营柜员白天高效兼顾 零售客户接待与对公资料受理，利用业务间隙完成资料初步分类与系统信息预录入，确保每一笔业务衔 接顺畅、高效推进。同时，网点还开通商户服务绿色通道，根据需求灵活调配人力，确保服务不脱节、 业务不积压。 据悉，截至当前，招商银行南通分行叠石桥支行已累计为百余户家纺商户完成对公账户开立，助力商户 顺利实现合规转型。招商银行南通分行表示，将始终秉持"因您而变"的核心理念，以流程优化提效、以 专业服务暖心，为区域电商行业合规化发展注入金融动能。（来源：招商银行南通分行） （注：此文属于央广网登载的商业信息，文章内容不代表本网观点，仅供参考） 电商税政策明确，电商经营者需凭市场主体登记办理税务登记，而对公账户作为税款缴纳、资金结算的 ...

Core Viewpoint - The report highlights the top and bottom AH share premium rates, indicating significant discrepancies in market valuations between H-shares and A-shares for various companies, with notable outliers in both categories [1][2]. Group 1: Top AH Share Premium Rates - Northeast Electric (00042) leads with a premium rate of 900.00%, followed by Zhejiang Shibao (01057) at 402.44% and Hongye Futures (03678) at 294.14% [1]. - The top three companies with the highest deviation values are Zhejiang Shibao (01057) at 98.41%, Jin Feng Technology (02208) at 27.90%, and Hongye Futures (03678) at 19.75% [1][2]. Group 2: Bottom AH Share Premium Rates - Ningde Times (03750) has the lowest premium rate at -12.98%, followed by China Merchants Bank (03968) at -4.49% and Heng Rui Medicine (01276) at 0.14% [1]. - The bottom three companies with the lowest deviation values are GAC Group (02238) at -24.57%, Zhongwei New Materials (02579) at -9.99%, and Chenming Paper (01812) at -9.89% [1][3]. Group 3: Additional Insights on Premium Rates - The report includes a detailed ranking of the top ten and bottom ten AH shares based on premium rates and deviation values, providing a comprehensive overview of market performance [1][2][3]. - Companies like Jiangsu Ningshu Highway (00177) and Agricultural Bank (01288) also show significant deviations, indicating potential investment opportunities or risks [3].

12月31日金融一线消息，国家金融监督管理总局洛阳监管分局行政处罚信息公示显示，招商银行股份有 限公司洛阳分行因贷后管理不尽职被罚款30万元，杨林硕（时任招商银行股份有限公司洛阳分行公司金 融客户二部总经理助理、副总经理）被给予警告。 | | 招商银 行股份 | 洛金罚决 | | 罚款 | | | --- | --- | --- | --- | --- | --- | | 2 | 有限公 | 字 | | 30 | | | | | (2025) | | | | | | 司洛阳 | 39号 | | 万元 | | | | 分行 | | | | | | | 杨林颂 | | | | | | | (时任 | | | | | | | 招商银 | | | | | | | 行股份 | | | | | | | 有限公 | | 贷后管理不尽职 | | 洛阳美部 | | | | | | | 监管分局 | | | 司洛阳 | 洛金罚决 | | | | | | 分行公 | 字 | | | | | 3 | | | | 营告 | | | | 司等部 | (2025) | | | | | | 客户二 | 40号 | | | | | | 部总经 ...

Group 1 - The article discusses various credit card offerings from a bank, highlighting promotional benefits for new customers [5][9][11]. - New customers can receive various rewards such as cash vouchers, brand merchandise, and membership cards upon meeting spending requirements [12][14][15]. - The article emphasizes the zero annual fee for the first year and the potential for cashback on purchases for specific credit cards [18][20]. Group 2 - The bank offers a referral program where both the referrer and the referred can receive rewards upon meeting certain criteria [20]. - Existing cardholders can apply for additional credit cards, but the new cards will share the credit limit with existing ones and will not qualify for new customer rewards [22]. - The article encourages users to explore more credit card options and provides links for easy access to applications [28].

Core Insights - Shenzhen has produced a number of globally impactful companies, showcasing a shift from "Made in China" to "Created in China" [2] - The 45th anniversary of Shenzhen Special Economic Zone marks a significant milestone in its rapid modernization and brand development [2][3] - The "Shenzhen Brand Development White Paper (1980-2025)" outlines the evolution of Shenzhen's brands and their internal logic and success factors [3][5] Group 1: Brand Evolution - Shenzhen's brand journey reflects a transition from manufacturing to innovation, with key phases including the emergence of local brands in the 1980s and 1990s, and the rise of autonomous brands in the early 2000s [7][10] - The current phase is characterized by cluster upgrades, with companies like Tencent, BYD, and DJI leading in various sectors [8][10] - As of now, Shenzhen has cultivated 1,220 notable local brands, including 13 billion-level brands and 7 trillion-level brands, with Tencent, Ping An, and Huawei each exceeding a brand value of 490 billion [10][11] Group 2: Economic Contributions - The 1,220 notable brands contribute 47.97% of the city's sales, 42.05% of tax revenue, and 32.87% of exports, serving as the backbone of Shenzhen's high-quality economic development [11] - These brands span critical sectors such as electronics, renewable energy, biomedicine, high-end equipment, financial services, and digital economy, forming a robust industrial structure [11] Group 3: Brand Development Factors - Shenzhen's brand success is attributed to a unique ecosystem supported by policy innovation, technological advancement, and collaborative industrial frameworks [15][16][19] - The government has played a crucial role in creating a conducive environment for brand growth through targeted policies and regulatory frameworks [16] - Innovation drives brand competitiveness, with companies investing over 10% of their annual revenue in R&D, fostering a comprehensive innovation ecosystem [17] Group 4: Global Expansion and Responsibility - Shenzhen brands have established clear pathways for international expansion, evolving from processing trade to localized operations and global standardization [20] - Social responsibility is ingrained in the corporate strategy, enhancing brand value and sustainability through practices like tax compliance and community support [21] Group 5: Future Outlook - The release of the white paper is a significant step in documenting Shenzhen's brand journey and providing strategic guidance for future brand development [31] - Shenzhen's brands are expected to continue thriving in emerging sectors like digital and low-altitude economies, contributing to the global narrative of Chinese brands [33][34]

瑞财经 吴文婷12月29日，招商银行发布董事会决议公告，审议通过了《关于提名王小青先生为非执行 董事的议案》，同意提名王小青为公司第十三届董事会非执行董事候选人，并提交公司股东会审议。 股东会审议通过后，王小青的董事任职资格需报国家金融监督管理总局进行审核，任期自公司收到国家 金融监督管理总局任职资格批复之日起，至第十三届董事会届满之日止。 值得关注的是，今年8月4日，招商银行发布公告称，公司董事会收到公司副行长王小青的辞任函。王小 青因工作原因，向公司董事会提请辞去副行长职务。王小青的辞任自当日起生效。 其曾任中国人保资产管理有限公司风险管理部副总经理、组合管理部副总经理、组合管理部总经理、总 裁助理、副总裁兼财务负责人，招商基金管理有限公司总经理、董事长，招商银行行长助理兼深圳分行 行长，招商银行副行长，曾兼任招商信诺人寿保险有限公司董事长，兼任招商信诺资产管理有限公司董 事长。 | 姓名 | 离任职务 | 离任时间 | 原定任期 | 离任原因 | 是否继续在 本公司及其控股 | 是否存在 未履行完毕 | | --- | --- | --- | --- | --- | --- | --- | | | | ...

2025年12月30日，招商银行（600036）发布公告称，依据《关于机场贵宾厅易登机服务使用规则调整的 通告》相关内容，招商银行将于2026年1月1日对您的易登机积分进行部分清零。此次清零的积分为2023 年12月31日（含）之前累积且未使用的部分。同时，2024年1月1日（含）之后发放的积分，按自然月计 算有效期，有效期为12个月，失效后逐月清零。 感谢您对招商银行一如既往的支持！ 如需查询借记卡的易登机积分余额和积分规则，请登录招商银行App搜索"高端权益"进入"无忧出行， 贵宾登机"模块在"我的权益卡片"中查阅，或致电95555通过人工服务咨询。 由此给您带来不便，敬请谅解。 ...

Group 1 - The top three companies by Hong Kong Stock Connect holding ratios are China Telecom (71.90%), Gree Power Environmental (69.96%), and Da Zhong Public Utilities (68.75%) [1][2] - The companies with the largest increase in holding amounts over the last five trading days are SMIC (+1.108 billion), China Merchants Bank (+1.056 billion), and Hong Kong Exchanges (+0.792 billion) [1][2] - The companies with the largest decrease in holding amounts over the last five trading days are China Mobile (-3.231 billion), Tencent Holdings (-1.109 billion), and Tracker Fund of Hong Kong (-0.469 billion) [1][4] Group 2 - The latest holding ratios for the top 20 companies in Hong Kong Stock Connect show that China Telecom has 9.979 billion shares, Gree Power Environmental has 0.283 billion shares, and Da Zhong Public Utilities has 0.367 billion shares [2] - The top 10 companies with the largest increase in holdings over the last five trading days include Xiaomi Group (+0.633 billion) and Alibaba Group (+0.530 billion) [2] - The top 10 companies with the largest decrease in holdings over the last five trading days include China Unicom (-0.445 billion) and XinDa Biologics (-0.432 billion) [4]