新浪期货 根据交易所数据，截至7月02日收盘主力合约玻璃2509,涨跌+6.48%,成交量366.11万手，持仓数据显示前20席位呈现净 空，差额头寸为156018手。 玻璃期货全合约总计成交411.04万手，比上一日新增232.35万手。全合约前20席位多头持仓103.42万手，比上一日增加2.95万手。 全合约前20席位空头持仓122.23万手，比上一日减少7.38万手。 根据合并数据显示，多头前三席位为国泰君安，总持仓124331、中信期货，总持仓82318、东证期货，总持仓81864；空头前三席 位为国泰君安，总持仓239142、银河期货，总持仓110165、中信期货，总持仓105614； 主力合约前20席位中，多头增仓前三名分别是：东证期货、持仓80519、增仓36962，国泰君安、持仓96350、增仓13492，华泰期 货、持仓45134、增仓8535；多头减仓前三名分别是：中信建投、持仓34592、减仓-18049，东方财富、持仓27687、减仓-17627， 广发期货、持仓25401、减仓-15653； 2025年7月2日玻璃主力合约2509持仓数据一览 | | 名次 会员名称 成交量(双边) ...

2025年7月2日碳酸锂主力合约2509持仓数据一览 | | 名次 会员名称 成交量(双边) | | 増減 | 会员 | 持买单 | 增减 | 会员 | 持卖单 | 增减 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | ਹ | 中信期货 | 125,160 | 35,064 | 国泰君安期货 | 36,679 | 4,355 | 国泰君安期货 35,684 | | 063 | | 2 | 国泰君安期货 | 117,978 | 28,055 | 中信期货 | 19,962 | -2,354 | 中信期货 | 31,089 | 2,974 | | 3 | 东证期货 | 71,719 | 8,954 | 新湖期货 | 13,182 | -1,006 | 广发期货 | 22,716 | 177 | | ব | 海通期货 | 65,604 | 17,587 | 东证期货 | 12,318 | -2,495 | 永安期货 | 20,705 | -3,517 | | 5 | 走闻期货 | 63,753 | 28,843 | 国贸期货 | 1 ...

Core Insights - The main contract for the CSI 1000 Index futures closed at 2509, with a slight decrease of 0.28% as of July 2, 2025, and a total trading volume of 93,400 contracts [1][2] - The total trading volume for all contracts was 165,700, which is a decrease of 16,100 contracts compared to the previous day [1][4] - The top 20 positions showed a net short position with a difference of 18,877 contracts [1] Position Data Summary - The top three long positions were held by Guotai Junan with a total holding of 40,430 contracts, CITIC Futures with 35,573 contracts, and Haitong Futures with 17,865 contracts [1][4] - The top three short positions were held by CITIC Futures with 58,327 contracts, Guotai Junan with 41,890 contracts, and Haitong Futures with 16,412 contracts [1][4] - The top three long position increases were from Haitong Futures (+467), Zheshang Futures (+241), and Guoxin Futures (+221) [1] - The top three long position decreases were from CITIC Futures (-1,825), Guotai Junan (-1,758), and Huatai Futures (-788) [1] - The top three short position increases were from Guoxin Futures (+419), Galaxy Futures (+148), and Ping An Futures (+82) [1] - The top three short position decreases were from CITIC Futures (-1,715), Guotai Junan (-1,581), and Haitong Futures (-604) [1]

Core Viewpoint - The A-share IPO market has experienced a significant increase in new applications since June, indicating a resurgence in IPO activities after a period of contraction [1][3]. Group 1: IPO Market Dynamics - In June, 152 new companies were accepted for IPO applications, surpassing the total for the first five months of the year and the entire previous year [1][3]. - The distribution of new IPO applications includes 97 from the Beijing Stock Exchange, 18 from the Sci-Tech Innovation Board, 19 from the Growth Enterprise Market, and 18 from the Shanghai and Shenzhen main boards [3]. - The total number of IPO applications accepted in 2024 was only 84, with a significant portion coming from the Beijing Stock Exchange [3]. Group 2: Investment Banking Landscape - A new investment banking landscape is emerging, characterized by the dominance of "two super" firms (Guotai Junan and Haitong Securities) and the establishment of a "four strong" group (CITIC Securities, Guolian Minsheng, Huatai United Securities, and CICC) [2][5]. - In June, Guotai Haitong Securities led with 20.5 IPO projects, while CITIC Securities followed closely with 20 projects, including a notable fundraising target of 8 billion yuan for Moer Thread [5]. - The combined efforts of these six leading investment banks accounted for 78.5 of the 152 accepted IPOs in June, representing a significant share of the market [5]. Group 3: Strategic Development of Guolian Minsheng Securities - Guolian Minsheng Securities is positioning itself as a leading investment bank by integrating its operations and focusing on technology-driven companies [6][7]. - The firm aims to provide comprehensive services throughout the lifecycle of enterprises, emphasizing a shift from traditional financing methods to a "companion + value co-creation" model [8]. - Guolian Minsheng's strategy includes targeting high-quality, high-growth technology companies in sectors such as new energy, new materials, and biomedicine, aligning with national strategic development goals [7][8].

Group 1 - The A-share IPO acceptance market showed significant changes in the first half of 2025, with 177 companies' IPO applications accepted, surpassing the total from the previous year [1] - The competitive landscape among underwriters has undergone important adjustments, with 37 underwriting institutions involved in the 177 companies [1] Group 2 - The merger effect has reshaped rankings, with Guotai Junan and Haitong Securities leading with 26 accepted IPOs, followed by CITIC Securities with 22, and CICC with 10 [3] - Guotai Junan and Guolian Minsheng benefited from mergers, enhancing their business synergy and ranking, with Guotai Junan effectively integrating resources post-merger [3] - Guolian Minsheng's entry into the top five is attributed to complementary business advantages from the merger, enhancing their investment banking capabilities [3] Group 3 - In the first half of 2025, the A-share IPO market demonstrated vitality, with a total of 48 IPO projects, an increase of 5 from the same period last year, and a financing scale of 38.002 billion yuan, up 25.53% year-on-year [4] - CITIC Securities led in underwriting amounts with 8.431 billion yuan, followed by Guotai Junan with 4.797 billion yuan, and Huatai Securities with 3.186 billion yuan [4] - In the Sci-Tech Innovation Board, Guotai Junan dominated with 2.637 billion yuan in underwriting, while CITIC Securities and CICC followed with 1.716 billion yuan and 0.896 billion yuan respectively [4] Group 4 - In terms of underwriting quantity, Guotai Junan ranked first with 7, CITIC Securities second with 6, and Shenwan Hongyuan third with 5 [5] - The ongoing reforms in the Sci-Tech Innovation Board and the Growth Enterprise Market, along with the continuous improvement of the North Exchange system, are expected to keep the IPO market active [5]

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 不對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。 劉 成 （於中華人民共和國註冊成立的股份有限公司） （股份代號：6066） 海外監管公告 本 公 告 乃 中 信 建 投 証 券 股 份 有 限 公 司（「本公司」）根 據 香 港 聯 合 交 易 所 有 限公司證券上市規則第13.10B條 而 作 出。 茲 載 列 本 公 司 於 上 海 證 券 交 易 所 網 站 刊 發 之《中 信 建 投 証 券 股 份 有 限 公 司2025年 科 技 創 新 債 券（第 一 期）發 行 結 果 公 告》，僅 供 參 閱。 中國北京 2025年7月2日 於 本 公 告 日 期，本 公 司 執 行 董 事 為 劉 成 先 生 及 金 劍 華 先 生；本 公 司 非 執 行 董 事 為 李 岷 先 生、閆 小 雷 先 生、劉 延 明 先 生、楊 棟 先 生、華 淑 蕊 女 士 及 王 華 女 士；以 ...

Summary of Key Points Core Viewpoint - In the first half of 2025, a total of 51 companies were listed on the Shanghai Stock Exchange, Shenzhen Stock Exchange, and Beijing Stock Exchange, raising a total of 37.3 billion yuan in funds [1]. Group 1: Listing and Fundraising - Among the 51 listed companies, 18 were on the main board, 20 on the ChiNext board, 7 on the Sci-Tech Innovation board, and 6 on the Beijing Stock Exchange [1]. - The top fundraising company was Zhongce Rubber, which raised 4.066 billion yuan, followed by Tianyouwei and Yingshi Innovation, which raised 3.740 billion yuan and 1.938 billion yuan respectively [1]. Group 2: Underwriting and Sponsorship Fees - A total of 27 securities firms participated in the underwriting and sponsorship of the newly listed companies, earning a combined fee of 2.546 billion yuan [1]. - CITIC Securities ranked first in underwriting fees, earning 316.556 million yuan by sponsoring five companies including Huazhi Jie and Zhongce Rubber [2]. Group 3: Ranking of Securities Firms - Huatai United and CITIC Securities ranked second and third in underwriting fees, earning 254.466 million yuan and 231.965 million yuan respectively [2]. - The top five securities firms collectively earned 1.177 billion yuan, accounting for 46.23% of the total underwriting fees for the first half of 2025 [3]. Group 4: Detailed Underwriting Data - A detailed table lists the number of companies sponsored and the corresponding underwriting fees for various securities firms, with CITIC Securities leading with five companies and 316.556 million yuan [4]. - Other notable firms include Huatai United, CITIC Securities, Guotai Junan, and Shenwan Hongyuan, each sponsoring multiple companies and earning significant fees [5].

Core Viewpoint - The potential for gold prices to reach $3,500 per ounce by the end of 2025 is supported by various market dynamics, institutional forecasts, and influencing factors [1][17]. Group 1: Factors Supporting Price Increase - Major investment banks, including Goldman Sachs and UBS, have raised their forecasts multiple times, predicting gold prices could reach $3,700 per ounce by the end of 2025, with a possibility of $4,000 by mid-2026 due to geopolitical risks, weakening dollar credit, and ongoing central bank purchases [1]. - The long-term upward cycle for gold remains intact, with significant support from central bank purchases, as global central banks have been net buyers for 16 consecutive years, adding 244 tons in Q1 2025 [2][5]. - Expectations of a Federal Reserve interest rate cut could further weaken the dollar, which has already fallen to its lowest level since March 2022, potentially boosting gold prices [3]. Group 2: Geopolitical and Structural Demand - Ongoing geopolitical risks, such as the fragility of Middle East ceasefire agreements and fluctuating U.S.-China tariff negotiations, may reignite safe-haven demand for gold [4]. - The structural demand for gold is reinforced by the fact that 95% of central banks plan to continue increasing their gold reserves over the next 12 months [5]. Group 3: Risks to Price Increase - Technical analysis indicates that if gold prices fall below $3,165 per ounce, a technical correction of 10-15% could occur, potentially bringing prices down to the $2,500-$2,700 range [6]. - Current gold prices are detached from actual production costs, indicating a risk of valuation correction due to high price levels [7]. - If strong non-farm payroll data or inflation rebounds occur, the Fed may delay interest rate cuts, which could suppress gold prices [8]. Group 4: Institutional Divergence - There is a divergence among institutions regarding gold price forecasts, with Goldman Sachs predicting $3,700, UBS over $3,500, while Citigroup warns of a potential drop to the $2,500-$2,700 range [11]. Group 5: Investor Strategy Recommendations - Investors are advised to maintain rationality amid short-term volatility and avoid chasing price movements, as gold prices are highly sensitive to policy changes [12]. - A recommended allocation for gold in household financial assets is between 5-10%, with a strategy of dollar-cost averaging into gold ETFs to mitigate timing risks [12]. - Key policy anchors to monitor include the Federal Reserve's interest rate decisions and the political landscape surrounding U.S. elections [13].

独立财务顾问 二〇二五年七月 独立财务顾问声明 中信建投证券股份有限公司接受卧龙新能源集团股份有限公司的委托，担任 本次卧龙新能源集团股份有限公司重大资产出售暨关联交易之独立财务顾问。根 据《公司法》《证券法》《上市公司重大资产重组管理办法》《公开发行证券的 公司信息披露内容与格式准则第 26 号——上市公司重大资产重组》《上海证券 交易所股票上市规则》等有关法律、法规的要求，按照证券行业公认的业务标准、 道德规范，本着诚实信用、勤勉尽责的态度，本独立财务顾问经过审慎调查，出 具本次重组实施情况的核查意见。 中信建投证券股份有限公司 关于 卧龙新能源集团股份有限公司 重大资产出售暨关联交易实施情况 之 独立财务顾问核查意见 释 义 本核查意见中，除非文义另有所指，下列简称和术语具有如下含义： 《卧龙新能源集团股份有限公司重大资产出售暨关联交易 报告书 指 实施情况报告书》 本独立财务顾问承诺并保证本次交易提供、披露的信息和相关文件的内容真实、 准确、完整，保证不存在虚假记载、误导性陈述或者重大遗漏，并愿意承担相应 的法律责任。 的专业意见与上市公司披露的文件内容不存在实质性差异。 所做出的任何投资决策而产生的 ...

Group 1 - The article discusses the non-public issuance of shares by Tianyu Digital Technology (Dalian) Group Co., Ltd. and the subsequent lifting of restrictions on share trading [1][2][3] - The company underwent significant changes in its share capital structure, including multiple rounds of share issuance and repurchase, resulting in a total share capital increase from 292,086,511 shares to 1,654,585,820 shares [2][4][6] - The company has faced challenges in meeting performance commitments related to its acquisitions, leading to compensation obligations from shareholders [8][9] Group 2 - The specific details of the shareholding structure reveal that Ningbo Shiyi holds 6,558,653 shares, representing 0.40% of the total share capital, with 4,599,533 shares being subject to lock-up restrictions [6][10] - The lifting of restrictions on shares is linked to the fulfillment of performance commitments, with shareholders required to compensate the company for unmet profit targets [8][9] - Following the lifting of restrictions, the company will have a total of 28,654,541 shares subject to lock-up, while the total number of unrestricted shares will be 1,625,931,279 [10]