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。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：6066） (I) 於 2025 年 6 月 2 7 日舉行的 2024 年 度 股東週年大會的投票表決結果； 及 (II) 2024 年度利潤分配方案 茲 提 述 中 信 建 投 証 券 股 份 有 限 公 司（「 本公司 」）日 期 為 2025 年 5 月 2 9 日 的 通 函（「 通 函 」）。 除 文 義 另 有 所 指 外 ， 本 公 告 所 用 詞 彙 與 通 函 中 所 定 義者具有相同涵義。 (I) 於 2025 年 6 月 2 7 日舉行的 2024 年度股東週年大會的投票表決 結 果 本公司 2024 年 度 股 東 週 年 大 會（「 股東週年大會 」）於 2025 年 6 月 2 7 日（ 星 期 五 ）下 午 2 時 3 0 分在中國北京市朝陽區景輝街 1 6 號 院 1 號 樓 泰康集團大廈 1 3 層 會 議 室 ...

北京市天元律师事务所关于 中信建投证券股份有限公司 2024 年度股东大会 的法律意见 京天股字(2025)第 440 号 致:中信建投证券股份有限公司 中信建投证券股份有限公司(以下简称"公司")2024年度股东大会(以下简 称"本次股东大会")采取现场投票与网络投票相结合的方式,现场会议于 2025 年 6 月 27 日在北京市朝阳区景辉街 16 号院 1 号楼泰康集团大厦 13 层会议室召 开。北京市天元律师事务所(以下简称"本所")接受公司聘任,指派本所律师参 加本次股东大会现场会议,并根据《中华人民共和国公司法》《中华人民共和国 证券法》(以下简称"《证券法》")、《上市公司股东会规则》(以下简称"《股 东会规则》"）以及《中信建投证券股份有限公司章程》(以下简称"《公司章程》") 等有关规定,就本次股东大会的召集、召开程序,出席现场会议人员的资格,召 集人资格,会议表决程序及表决结果等事项出具本法律意见。 为出具本法律意见,本所律师审查了《中信建投证券股份有限公司第三届董 事会第十三次会议决议公告》《中信建投证券股份有限公司第三届董事会第十四 次会议决议公告》《中信建投证券股份有限公司第三届监事会 ...

证券代码：601066 证券简称：中信建投 公告编号：临 2025-034 号 中信建投证券股份有限公司 2024年度股东大会决议公告 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。 重要内容提示： 本次会议是否有否决议案：无 1 本次股东大会采取现场投票和网络投票相结合的表决方式，符合《中华人民 共和国公司法》《上海证券交易所股票上市规则》《上市公司股东会规则》《上海 证券交易所上市公司自律监管指引第 1 号—规范运作》等法律法规和《中信建投 证券股份有限公司章程》的有关规定。本次股东大会由公司董事会召集，刘成董 事长主持会议。 （五）公司董事、监事和董事会秘书的出席情况 1、 公司在任董事13人，出席13人（现场出席 5 人，通讯出席 8 人）； 一、会议召开和出席情况 （一）股东大会召开的时间：2025 年 6 月 27 日 （二）股东大会召开的地点：北京市朝阳区景辉街 16 号院 1 号楼泰康集团 大厦 13 层会议室 （三）出席会议的普通股股东及其持有股份情况（本公司暂无优先股股东）： | 1、出席会议的股东和代理人 ...

Core Insights - The 2-year government bond futures contract (2509) closed at +0.03% with a trading volume of 37,300 contracts as of June 27 [1][2] - The total trading volume for all contracts reached 38,400 contracts, an increase of 1,310 contracts from the previous day [1][3] - The top 20 positions showed a net short position with a difference of 18,880 contracts [1] Group 1: Trading Volume and Positions - The total trading volume for the 2-year government bond futures was 38,400 contracts, with a daily increase of 1,310 contracts [1][3] - The top 20 long positions totaled 88,100 contracts, an increase of 72 contracts from the previous day [1][4] - The top 20 short positions totaled 107,000 contracts, an increase of 48 contracts from the previous day [1][4] Group 2: Major Players - The top three long positions were held by Citic Futures (18,555 contracts), Ping An Futures (9,321 contracts), and Citic Jiantou (7,969 contracts) [1][3] - The top three short positions were held by Citic Futures (36,922 contracts), GF Futures (15,533 contracts), and Guotai Junan (11,576 contracts) [1][3] - The largest increase in long positions was seen in Yong'an Futures (2,301 contracts, +232), Guotai Junan (5,314 contracts, +181), and Huatai Futures (3,351 contracts, +157) [1][4]

Group 1 - The stock of Xinhongye (301310.SZ) closed at 36.58 yuan, with a decline of 6.49%, resulting in a total market capitalization of 4.973 billion yuan, indicating that the stock is currently in a state of breaking issue [1] - Xinhongye was listed on the Shenzhen Stock Exchange's ChiNext board on June 2, 2023, with an issuance of 24.2747 million shares at a price of 67.28 yuan per share [1] - The total amount raised from the initial public offering (IPO) was 1.633 billion yuan, with a net amount of 1.497 billion yuan after deducting issuance costs, which exceeded the original plan by 1.051 billion yuan [1] Group 2 - The company plans to use the raised funds for projects including the intelligent manufacturing center for new energy special cables, the R&D center for new energy special cables, and to supplement working capital [1] - The total issuance costs (excluding VAT) amounted to 135.83 million yuan, with underwriting and sponsorship fees accounting for 101.99 million yuan [1] Group 3 - The annual equity distribution announcement indicates that the company will distribute a cash dividend of 5 yuan (including tax) for every 10 shares, totaling 48.55 million yuan [2] - Additionally, the company will increase capital by issuing 4 new shares for every 10 shares held, resulting in a total of 38.84 million new shares [2] - The record date for the stock rights is June 13, 2024, and the ex-dividend date is June 14, 2024 [2]

Core Viewpoint - The company Weijie Chuangxin (688153.SH) announced a share reduction plan by shareholders due to personal funding needs, with a maximum reduction of 232,937 shares, accounting for 0.0541% of the total share capital [1][2]. Shareholder Reduction Plan - Shareholders Rong Xiuli and Sun Yijun plan to reduce their holdings through centralized bidding, with a maximum of 232,937 shares to be sold [1][2]. - The reduction will occur within three months starting from 15 trading days after the announcement [1][2]. - The reason for the reduction is personal funding needs [2]. Shareholding Structure - As of the announcement date, shareholder Rong Xiuli holds 53,265,280 shares, representing 12.38% of the total share capital, all of which are subject to trading restrictions [2]. - Shareholder Sun Yijun holds 14,716,061 shares, accounting for 3.42% of the total share capital, with 232,937 shares acquired through centralized bidding being unrestricted [2]. Company Background - Weijie Chuangxin was listed on the Shanghai Stock Exchange's Sci-Tech Innovation Board on April 12, 2022, with an initial public offering of 40.08 million shares at a price of 66.60 yuan per share [3]. - The total funds raised from the IPO amounted to 266,932.80 million yuan, with a net amount of 250,251.13 million yuan after deducting issuance costs [3]. - The company plans to use the raised funds for integrated circuit production testing, R&D center construction, and to supplement working capital [3].

Group 1 - The People's Bank of China and other regulatory bodies issued guidelines to support consumption, which is expected to enhance the business environment for securities firms [1] - Citic Securities anticipates strong growth potential for the brokerage sector due to a favorable secondary market and a rapid recovery in the primary market [1] - The recent Lujiazui Forum introduced reforms for the Sci-Tech Innovation Board, which are expected to improve market activity and lay a foundation for brokerage performance with a trading volume of 1.5 trillion yuan [1] Group 2 - Citigroup's report indicates that the SFISF initiative has positively impacted the real estate market and consumption, with a low percentage of household assets allocated to stocks compared to the U.S. [2] - An increase of 1% in stock investment within household assets could lead to over 5 trillion yuan inflow into the stock market, highlighting the potential for significant capital reallocation [2] - The Shanghai Composite Index is projected to break the 3,500-point mark, benefiting Chinese brokerages as household assets shift towards equities [2] Group 3 - Key brokerage firms mentioned include CITIC Securities, China Galaxy, and Huatai Securities, among others, indicating a competitive landscape in the brokerage sector [3] - The report emphasizes the importance of selecting stocks based on low valuation, strong retail business, and potential benefits from the Hong Kong IPO market [2]

Core Viewpoint - The company, Xinjiang Beixin Road and Bridge Group Co., Ltd., is issuing shares to specific investors to raise funds for infrastructure projects, particularly in the public transportation sector, amidst a challenging financial landscape marked by recent losses and high debt levels [1][2]. Group 1: Company Overview - Company Name: Xinjiang Beixin Road and Bridge Group Co., Ltd. [2] - Established: August 7, 2001 [2] - Listed on: Shenzhen Stock Exchange since November 11, 2009 [2] - Registered Capital: 1,268,291,582 RMB [2] - Main Business: Engaged in the construction of public transportation infrastructure, including highway, bridge, tunnel, and municipal traffic engineering [3][5]. Group 2: Financial Performance - Total Assets as of December 31, 2024: 5,639,262.35 million RMB [5] - Total Liabilities as of December 31, 2024: 5,120,226.98 million RMB [5] - Net Profit for 2024: -46,413.49 million RMB, indicating a significant loss compared to previous years [5][11]. - Revenue for 2024: 1,021,514.50 million RMB, a decrease from 1,165,806.87 million RMB in 2022 [5][11]. Group 3: Business Risks - High debt levels with interest-bearing debt increasing to 3,567,256.82 million RMB by the end of 2024, leading to a debt-to-asset ratio of 90.80% [8][11]. - The company faces risks related to the impairment of highway operating rights, which accounted for 367.83 billion RMB or 65.23% of total assets as of the end of 2024 [9]. - The construction of highways and related projects is capital-intensive, with significant upfront investments required, increasing financial pressure [12]. Group 4: Future Outlook - Upcoming projects, such as the Suzhou to Guizhou Highway expected to open in early 2026, may improve revenue but are subject to economic conditions and market demand [7]. - The company is transitioning from traditional construction to a full-service model, including BOT and PPP projects, which may enhance profitability if managed effectively [12].

Summary of Conference Call Records Industry and Company Involved - The conference call discusses the investment landscape for 2025, focusing on the non-banking financial sector and emerging investment themes such as new consumption, robotics, artificial intelligence (AI), and innovative pharmaceuticals. Core Points and Arguments 1. **Market Drivers**: The primary drivers of the current market are improved liquidity and risk appetite, supported by a historically weak dollar, unprecedented policy support, and a favorable overall liquidity environment. Geopolitical risk reduction and global stock market gains also contribute positively to market sentiment [2][3][12]. 2. **Investment Focus**: The investment strategy for the second half of 2025 emphasizes "track investment," similar to the peaks seen in 2020-2021. Key sectors include new consumption, robotics, AI, and innovative pharmaceuticals, with a focus on structural growth areas supported by policy and technological breakthroughs [1][5][16]. 3. **Active vs. Passive Investment**: Unlike previous peaks, passive investments (like ETFs) hold more influence in 2025. However, active equity investments are expected to outperform in new tracks due to rapid technological iterations and complex business models, allowing for the identification of hidden champions and flexible portfolio adjustments [6][7][8]. 4. **Impact of Fund Flows**: Significant fund inflows can create positive feedback for new track investments. For instance, a fund that saw net subscriptions exceeding 7 billion yuan in Q1 2025 could drive stock price increases and generate excess returns [9]. 5. **Sector Performance**: Recent pullbacks in new consumption and innovative pharmaceutical sectors are attributed to a shift in high-risk capital and weak performance of related Hong Kong stock indices. The potential tightening of liquidity due to the Hong Kong dollar's weak side guarantee is a concern [12][14]. 6. **Short-term Market Disturbances**: The Hong Kong market has faced disturbances from geopolitical tensions and reduced capital inflows, although these factors are expected to be temporary [13]. 7. **Recommended Sectors**: The recommended sectors for investment include AI, semiconductors, and the science and technology innovation board. The AI sector is experiencing upward trends, with significant breakthroughs in chip technology and supportive policies enhancing the sector's attractiveness [15][16]. 8. **Future Investment Strategy**: The mid-term strategy suggests maintaining dividends as a base while actively engaging in emerging tracks and thematic hotspots. Key areas of focus include AI technology, semiconductors, humanoid robotics, and related themes like stablecoins and solid-state batteries [10][11][17]. Other Important but Possibly Overlooked Content - The conference highlights the importance of monitoring the Hong Kong dollar's weak side guarantee, as it may impact liquidity and market performance in the medium term, particularly affecting new consumption and innovative pharmaceutical sectors [14]. - The call emphasizes the need for active management in sectors with high complexity and rapid technological change, suggesting that investors should be prepared to adapt their strategies in response to market dynamics [8][9].

中信建投 新品密集发布，关注 AIAR 眼镜产业链 20250625 摘要 AI AR 眼镜市场近期活跃，小米、Rokid、中国移动等纷纷入局，预示 2025 年或成爆发元年。Rokid 预计 2025 年订单超 25 万台，中国移动 给出至少 310 万台的乐观指引，生态系统逐步丰富。 智能眼镜与 VR/MR 眼镜定位不同。智能眼镜专注于语音交互、拍摄及 AR 显示，更适合日常佩戴，满足多样化需求。Meta 与雷朋合作的眼镜 已售超 200 万台，验证了智能眼镜的市场潜力。 显示功能在智能眼镜中至关重要，但光学和显示技术面临重量、彩色显 示、续航和散热等多重挑战。轻量化是关键，带显示功能的 AI AR 眼镜 重量需进一步降低。 AR 眼镜主流光学方案为衍射光波导和阵列光波导。衍射光波导在成本和 良率方面较平衡，但光效率较低；阵列光波导光效率较高，但工艺难度 大。未来，两种方案将持续竞争。 衍射光波导技术正向刻蚀工艺和碳化硅材料发展。刻蚀工艺更利于全彩 显示，碳化硅基底有助于轻薄化，但成本高昂。碳化硅镜片成本降至 1,000 元以下才具竞争力。 Q&A 鉴于大模型技术在听说读写画综合能力上的提升，以及眼镜作为 ...