Core Insights - The article highlights the top and bottom AH share premium rates as of December 15, with Northeast Electric (00042) leading at a premium of 900.00% and CATL (03750) at the bottom with a premium of -11.03% [1][2][3] Premium Rate Rankings - The top three AH stocks by premium rate are: - Northeast Electric (00042) with a premium of 900.00% and a deviation value of 26.91% [1][2] - Beijing Capital Machinery (00187) with a premium of 266.67% and a deviation value of 27.25% [1][2] - Hongye Futures (03678) with a premium of 265.78% and a deviation value of -3.92% [1][2] - The bottom three AH stocks by premium rate are: - CATL (03750) with a premium of -11.03% and a deviation value of -2.28% [1][3] - China Merchants Bank (03968) with a premium of -0.77% and a deviation value of -0.05% [1][3] - Heng Rui Medicine (01276) with a premium of 1.62% and a deviation value of -1.73% [1][3] Deviation Value Rankings - The top three AH stocks by deviation value are: - Beijing Capital Machinery (00187) with a deviation value of 27.25% [1][4] - Northeast Electric (00042) with a deviation value of 26.91% [1][4] - Hongxing Meikailong (01528) with a deviation value of 18.57% [1][4] - The bottom three AH stocks by deviation value are: - GAC Group (02238) with a deviation value of -19.95% [1][5] - First Tractor Company (00038) with a deviation value of -16.78% [1][5] - Longyuan Power (00916) with a deviation value of -13.18% [1][5]

Core Insights - The seventh "2025 Golden Central Forum and Financial Institution Awards Ceremony" was successfully held in Hong Kong, where the "Golden Central" financial institution list was announced, recognizing the achievements of various financial entities [1][3] - CMB International's app won the "Best Digital Innovation App of the Year" award, highlighting the industry's recognition of its digital innovation and transformation efforts [1][3] Group 1: Event Overview - The forum was co-hosted by leading financial platforms and associations, establishing the "Golden Central" awards as a benchmark for innovation in the financial industry [3] - The evaluation criteria for the awards included business scale, project quality, and market influence, ensuring that awarded institutions represent the highest standards in the industry [3] Group 2: CMB International App Features - CMB International's app has undergone a significant upgrade, focusing on "professional capabilities to seize global opportunities" and providing a comprehensive intelligent financial solution [3][4] - The app supports trading across multiple markets, including Hong Kong, US, and Japan, catering to diverse asset allocation needs [4] Group 3: New Functionalities - The app features dynamic tracking of master holdings and strategies, allowing users to learn from successful experiences [5] - It includes visualized analyst target prices for better investment decision-making [7] - The app's intelligent trading capabilities utilize AI to identify market patterns and optimize trading processes for efficiency [10] Group 4: Intelligent Support - The app offers full-cycle intelligent support, assisting users from pre-investment selection to post-investment services [15] - An AI assistant named "i Xiao Zhao" provides in-depth stock analysis and summarizes key information for users [19] Group 5: Premium Services - The app features a premium version that offers customized services and enhanced user experience, integrating efficiency and aesthetics [22]

北京商报讯（记者 程靓）12月15日，北京市丰台区举行2025央地合作推进商业航天高质量安全发展大 会，汇聚政产学研金等多方资源，集中签约了一批央地合作、产业链协同及金融护航项目，并发布了平 台共建、金融赋能、服务升级等多维度举措，展现了丰台区全力打造"宇航科技城"、培育商业航天新质 生产力的坚定决心。 据悉，面向未来，丰台区将在商业航天产业发展的关键环节持续发力。为驻区大院大所配置空间资源， 着力打造东高地宇航科技城、卫星互联网高品质园区、云岗东风小镇、二七航天智造基地，服务央企产 业扩容。充分发挥商业航天、人工智能、智能制造、医药健康、高端商务等10个产业促进中心在资源统 筹调度、政策集成创新、市场对接服务等方面的独特优势，以专业化平台赋能产业链上下游协同，推动 重点产业加速形成创新驱动、集群发展的良好生态，提升央地合作效能。通过精准引进产业链关键环节 企业、健全央地企合作与银企对接机制、加快出台专项产业支持政策等举措，全方位优化产业发展环 境，全力构筑具有世界影响力的商业航天产业高地，为我国航天强国建设贡献丰台力量。 据了解，丰台区全区已汇聚航天科技一院、航天科工三院等40余家国家级航天大院大所，集聚了 ...

Core Insights - The top three companies by stockholding ratio in the Hong Kong Stock Connect are China Telecom (00728) at 72.41%, Green Power Environmental (01330) at 69.93%, and Da Zhong Public Utilities (01635) at 69.81% [1] - Xiaomi Group-W (01810), China Merchants Bank (03968), and Agricultural Bank of China (01288) saw the largest increases in stockholding amounts over the last five trading days, with increases of +2.377 billion, +1.655 billion, and +0.815 billion respectively [1] - The largest decreases in stockholding amounts over the same period were recorded by WanGuo Gold Group (02979) at -3.768 billion, YingFu Fund (02800) at -1.184 billion, and China Petroleum & Chemical Corporation (00857) at -0.624 billion [2] Stockholding Ratios - The latest stockholding ratios for the top 20 companies in the Hong Kong Stock Connect show that China Telecom leads with 100.50 billion shares, followed by Green Power Environmental with 2.83 billion shares and Da Zhong Public Utilities with 3.73 billion shares [1] - Other notable companies in the top 20 include Kaisa New Energy (01108) at 67.96% and Tianjin Chuangye Environmental Protection (01065) at 66.72% [1] Recent Increases in Stockholding - Xiaomi Group-W (01810) increased its stockholding by +2.377 billion, with a change of +55.329 million shares [2] - China Merchants Bank (03968) saw an increase of +1.655 billion, with a change of +32.2845 million shares [2] - Agricultural Bank of China (01288) increased by +0.815 billion, with a change of +146.8699 million shares [2] Recent Decreases in Stockholding - WanGuo Gold Group (02979) experienced the largest decrease of -3.768 billion, with a change of -494.5072 million shares [2] - YingFu Fund (02800) decreased by -1.184 billion, with a change of -45.2735 million shares [2] - China Petroleum & Chemical Corporation (00857) saw a decrease of -0.624 billion, with a change of -75.768 million shares [2]

登录新浪财经APP 搜索【信披】查看更多考评等级 公告送出日期：2025年12月15日 1公告基本信息 ■ 注：建信荣瑞一年定期开放债券型证券投资基金（以下简称"本基金"）基金合同于2019年11月20日生 效，基金管理人为建信基金管理有限责任公司，基金托管人为招商银行股份有限公司。本次基金开放期 时间为2025年12月17日至2026年1月15日。开放期内本基金接受办理申购、赎回、转换申请。 为保护基金份额持有人利益，在开放期间，本基金管理人有权依据本基金的规模情况和市场变化情况， 根据基金合同的约定，提前结束或延长办理申购、赎回、转换业务。届时本基金管理人将在规定媒介上 公告。 2日常申购、赎回(转换、定期定额投资)业务的办理时间 根据本基金《基金合同》《招募说明书》的规定，本基金的每个封闭期为1年，即自基金合同生效日 （包括该日）起或每一个开放期结束之日的次日（包括该日）起至1年后的对应日（如为非工作日或该 公历年不存在该对应日，则顺延至下一工作日）的前一日（包括该日）止的期间。本基金自每个封闭期 结束后进入开放期，原则上不超过20个工作日。本次开放期（2025年12月17日至2026年1月15日，共计 ...

智通财经APP获悉，12月10日,招商银行（03968）、小米集团-W（01810）、农业银行（01288）南向资 金净流入金额位列市场前三，分别净流入6.88 亿、6.17 亿、3.46 亿 盈富基金（02800）、腾讯控股（00700）、恒生中国企业（02828）南向资金净流出金额位列市场前 三，分别净流出-15.57 亿、-6.08 亿、-4.78 亿 在净流入比方面，工银南方中国（03167）、新华文轩（00811）、深圳高速公路股份（00548）以 100.00%、75.27%、72.14%位列市场前三。 在净流出比方面，香港宽频（01310）、兖煤澳大利亚（03668）、重庆农村商业银行（03618） 以-67.03%、-66.22%、-56.68%位列市场前三。 | 股票名称 | 净流入比↓ | 净流入(元) | 收盘价 | | --- | --- | --- | --- | | 工银南方中国(03167) | 100.00% | 3420.00 | 68.680（+0.06%） | | 新华文轩(00811) | 75.27% | 352.81 万 | 10.300（+0.10%） | | 深 ...

Investment Rating - The report indicates a positive outlook for the insurance sector, recommending specific companies such as China Pacific Insurance, China Ping An, China Life (H), and China Taiping, while also recommending New China Life Insurance [4][17]. Core Insights - The financial industry experienced a mixed performance, with the non-bank financial index rising by 0.81%, outperforming the CSI 300 index by 0.89 percentage points. The insurance sector showed a notable increase of 2.36%, while the banking sector declined by 1.77% [2][11]. - The central economic work conference emphasized a proactive fiscal policy, which is expected to benefit the insurance sector by increasing infrastructure asset supply and improving credit risk perceptions [14][15]. - The report highlights the potential for valuation recovery in the brokerage sector, driven by regulatory changes that align public fund interests with long-term investor returns [18][19]. Summary by Sections 1. Weekly Performance and Sector Insights - The non-bank financial index rose by 0.81%, with the insurance sector outperforming the CSI 300 index by 2.44 percentage points [2][11]. - The banking sector underperformed, with a decline of 1.77%, attributed to macroeconomic policy expectations [3][21]. 2. Insurance Sector Data Tracking - The insurance sector's premium income showed steady growth, with life insurance and property insurance premiums increasing by 9.6% and 4.0% year-on-year, respectively [17][26]. - The report notes that the 10-year government bond yield decreased to 1.84%, which is favorable for the insurance sector's investment strategies [31]. 3. Brokerage Sector Data Tracking - The brokerage sector's PB valuation stands at 1.37x, indicating potential for valuation recovery as earnings improve [19][42]. - Regulatory changes in public fund sales are expected to enhance the industry's focus on long-term investor interests [18][19]. 4. Banking Sector Data Tracking - The banking sector's PB valuation is at 0.54x, suggesting it remains undervalued [21][25]. - The central economic work conference's focus on domestic demand and flexible monetary policy is expected to support the banking sector's growth [22][23].

《办法》明确，托管产品约定的投资范围包括非标准化债权类资产、未上市企业股权等非标准化资产 时，商业银行应当根据自身能力和服务水平，经充分评估后开展托管业务。评估的内容包括产品管理人 的资本实力、公司治理、合规管理、风险控制等，以及产品的交易结构、投资标的、退出方式、估值方 法策略等。 ◎记者 韩宋辉 金融监管总局12月12日发布《商业银行托管业务监督管理办法（试行）》（下称《办法》），在现有监 管制度基础上，进一步明确商业银行开展托管业务的基本规则，强化底线要求，细化重点环节的管理标 准。《办法》自2026年2月1日起施行。 托管是商业银行作为独立第三方，为各类金融产品及专项资金形成的投资组合等提供财产保管及相关服 务的行为。 为有效解决因职责边界不清导致过度承担风险的情况，《办法》列明了商业银行开展托管业务的禁止性 职责和禁止性行为。 金融监管总局有关司局负责人介绍，近年来，商业银行为理财产品、资金信托、证券投资基金、证券公 司资管产品、保险资管产品、社保基金、养老金等提供托管服务，业务规模稳步扩大、服务种类不断增 多、创新活动日趋活跃，有效满足了财产保管、产品核算、资产估值等方面的多样化需求。 主要包括： ...

Core Viewpoint - The National Financial Regulatory Administration has issued the "Supervision and Management Measures for Custody Business of Commercial Banks (Trial)" to enhance the supervision and management of custody business, promoting its standardized and healthy development [1][2]. Group 1: Regulatory Framework - The Measures consist of five chapters and 49 articles, covering general principles, custody responsibilities, management requirements, supervision and legal responsibilities, and supplementary provisions [2]. - The Measures define the concept of custody business and the basic principles for conducting such business, requiring commercial banks to establish a sound governance structure and management system for custody services [2]. Group 2: Implementation and Oversight - Commercial banks are mandated to provide appropriate custody services based on their capabilities and service levels, while the Measures also strengthen ongoing supervision, regulatory penalties, data reporting, and self-regulation [2]. - The National Financial Regulatory Administration will continue to urge commercial banks to enhance their management levels and risk prevention capabilities, promoting standardized, healthy, and high-quality development of custody business [3].

Core Viewpoint - China Chengtong announced a strategic cooperation agreement with China Merchants Bank on December 12, focusing on diversified financial collaboration [1] Group 1: Strategic Cooperation - The agreement aims to deepen cooperation in areas such as comprehensive credit, bond underwriting, wealth management, custody, treasury construction, and digital intelligence services [1]