Group 1 - Shanghai Zhida Technology Development Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange [1] - The exclusive sponsor for the listing is Shenwan Hongyuan [1]

Group 1 - The top three companies with the highest short positions are WuXi AppTec (02359), CATL (03750), and COSCO Shipping Holdings (01919), with short ratios of 23.99%, 17.39%, and 14.14% respectively [1][2] - The companies with the largest increase in short positions are Giant Biogene (02367), WuXi AppTec (02359), and Henderson Land Development (00012), with increases of 2.05%, 1.43%, and 1.41% respectively [1][2] - The companies with the largest decrease in short positions are SF Holding (06936), Far East Horizon (03360), and Jiumaojiu International Holdings (09922), with decreases of -1.94%, -1.22%, and -1.18% respectively [1][3] Group 2 - The top ten companies with the highest short ratios include Ganfeng Lithium (01772) at 13.09%, Xiexin Technology (03800) at 12.57%, and Shandong Gold (01787) at 12.35% [2] - The companies with the largest increase in short ratios also include Fuyou Glass (06865) at 12.07% and Tigermed (03347) at 9.81% [2] - The companies with the largest decrease in short ratios include Vanke Enterprise (02202) at 11.38% and Green Leaf Pharmaceutical (02186) at 11.96% [3][4]

Core Viewpoint - The report provides an overview of the performance and investment strategy of the Penghua CSI Photovoltaic Industry ETF Fund, highlighting its tracking objectives and recent financial results. Fund Overview - Fund Name: Penghua CSI Photovoltaic Industry ETF Initiated Link Fund [2] - Fund Manager: Penghua Fund Management Co., Ltd. [6] - Fund Custodian: Shenwan Hongyuan Securities Co., Ltd. [7] - Total Fund Shares at Period End: 43,910,128.34 shares [2] - Investment Objective: The fund aims to closely track the target index with a daily tracking deviation of less than 0.35% and an annualized tracking error of less than 4% [2][3]. Investment Strategy - The fund primarily invests in the Penghua CSI Photovoltaic Industry ETF to achieve close tracking of the target index [3]. - The fund may invest in index constituent stocks and alternative stocks to better track the index [4]. - The fund employs a replication method to construct its investment portfolio based on the composition and weight of the target index [4]. Financial Performance - The report period covers from April 1, 2025, to June 30, 2025 [1]. - A Class Share Profit: -447,324.41 RMB, with a net value growth rate of -0.0418 [13]. - C Class Share Profit: -1,165,098.20 RMB, with a net value growth rate of -0.0457 [13]. - I Class Share Profit: -102.10 RMB, with a net value growth rate of -0.0281 [13]. - The fund's performance over the past three months shows a net value growth rate of -5.39% for A Class, -5.42% for C Class, and -5.41% for I Class, compared to a benchmark growth rate of -6.07% [21]. Market Context - The photovoltaic sector experienced a surge in domestic installations, with May's new installations reaching 92.92 GW, the highest monthly record [20]. - The report indicates that the supply side still faces pressure, and government reports emphasize the need to address "involution" competition [20]. Risk Management - The fund utilizes hedging strategies with liquid and actively traded index futures to improve investment outcomes [5]. - The fund's tracking error is influenced by factors such as fund positioning, large subscriptions and redemptions, and adjustments to constituent stocks [20].

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，並明確表示概不就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：6806） 海外監管公告 本公告乃由申萬宏源集團股份有限公司（「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條作出。 茲載列本公司於深圳證券交易所網站發佈之《申萬宏源集團股份有限公司關於申萬宏源證券有 限公司2025年面向專業投資者非公開發行短期公司債券（第一期）在深圳證券交易所掛牌轉讓 的公告》，僅供參閱。 董事長 劉健 北京，2025年7月17日 於本公告日期，董事會成員包括執行董事劉健先生及黃昊先生；非執行董事朱志龍先生、張英女士、邵亞樓先生、 徐一心先生及嚴金國先生；獨立非執行董事楊小雯女士、武常岐先生、陳漢文先生及趙磊先生。 证券代码：000166 证券简称：申万宏源 公告编号：临2025-49 申 万 宏 源 集 团 股 份 有 限 公 司 关于申万宏源证券有限公司 2025 年面 ...

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，並明確表示概不就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：6806） 海外監管公告 本公告乃由申萬宏源集團股份有限公司（「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條作出。 茲載列本公司於深圳證券交易所網站發佈之《申萬宏源集團股份有限公司關於申萬宏源證券有 限公司2024年面向專業投資者公開發行短期公司債券（第一期）（品種二）本息兌付並摘牌的公 告》，僅供參閱。 承董事會命 申萬宏源集團股份有限公司 董事長 劉健 於本公告日期，董事會成員包括執行董事劉健先生及黃昊先生；非執行董事朱志龍先生、張英女士、邵亞樓先生、 徐一心先生及嚴金國先生；獨立非執行董事楊小雯女士、武常岐先生、陳漢文先生及趙磊先生。 证券代码：000166 证券简称：申万宏源 公告编号：临2025-48 申 万 宏 源 集 团 股 份 有 限 公 司 关于申万宏源证券有限公司 202 ...

申 万 宏 源 集 团 股 份 有 限 公 司 关于申万宏源证券有限公司 2025 年面向专业投资者 非公开发行短期公司债券（第一期）在深圳证券交易所 挂牌转让的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 证券代码：000166 证券简称：申万宏源 公告编号：临2025-49 申万宏源集团股份有限公司董事会 二〇二五年七月十七日 公司所属子公司申万宏源证券有限公司 2025 年面向专业投资者 非公开发行短期公司债券（第一期）（以下简称"本期债券"）发行工 作于 2025 年 7 月 10 日完成，本期债券发行规模人民币 26 亿元，分 两个品种，其中品种一发行规模人民币 13 亿元，期限 92 天，票面利 率 1.57%；品种二发行规模人民币 13 亿元，期限 183 天，票面利率 1.63%。（相关情况请详见公司于 2025 年 7 月 12 日在《中国证券报》 《证券时报》《上海证券报》和巨潮资讯网 www.cninfo.com.cn 上刊 登的公告） 经深圳证券交易所审核，本期债券定于2025 年7月17日起在深圳 证券交易所挂牌转让，面向专业 ...

公司所属子公司申万宏源证券有限公司于 2024 年 9 月 6 日发行 申万宏源证券有限公司 2024 年面向专业投资者公开发行短期公司债 券（第一期）（品种二）（以下简称"本期债券"），发行规模人民 币 38 亿元，票面利率 1.99%，期限 313 天，债券代码 148903，债券 简称 24 申证 D2。（相关情况请详见公司于 2024 年 9 月 10 日在《中 国 证 券 报 》 《 证 券 时 报 》 《 上 海 证 券 报 》 和 巨 潮 资 讯 网 www.cninfo.com.cn 上刊登的公告） 证券代码：000166 证券简称：申万宏源 公告编号：临2025-48 申 万 宏 源 集 团 股 份 有 限 公 司 关于申万宏源证券有限公司 2024 年面向专业投资者公开 发行短期公司债券（第一期）（品种二）本息兑付 并摘牌的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整， 没有虚假记载、误导性陈述或重大遗漏。 申万宏源集团股份有限公司董事会 二〇二五年七月十七日 本期债券兑付日为2025年7月16日，摘牌日为2025年7月16日，申 万宏源证券有限公司已按照《申万宏源证券有 ...

Company Overview - Zhongshan Bailing Biotechnology Co., Ltd. was established on April 6, 2004, with a registered capital of 7.065 million yuan [1] - The company is located in Zhongshan Torch Development Zone, Guangdong Province, and specializes in the production of bile acid raw materials [1] - Main products include Ursodeoxycholic Acid (UDCA) and Chenodeoxycholic Acid (CDCA) [1] Shareholding Structure - The controlling shareholder is Zhongshan Langchen Biotechnology Co., Ltd., holding a direct stake of 67.49% [2] - Zhang Heping serves as the legal representative and chairman of Bailing Biotechnology, holding approximately 44% of Langchen Biotechnology [2] Key Personnel - Zhang Wei, another shareholder, is the chairman of Shenzhen Jicheng Venture Capital Management Co., Ltd. [5] - Zhang Wei is recognized as a prominent investor, having received multiple awards including "Top 10 Chinese Venture Capitalists" and "Top 100 in Chinese Venture Capital 2024" [7]

Core Viewpoint - Health 160 International Limited is seeking to list on the Hong Kong Stock Exchange after a previous application lapsed, aiming to issue up to 61.45 million shares [3]. Company Overview - Established in 2005, Health 160 provides a range of pharmaceutical health products and comprehensive digital healthcare solutions, facilitating the digital transformation of the healthcare industry in China [5][9]. - The company has built a digital healthcare service platform that offers reliable online health services, breaking the limitations of traditional offline healthcare services [5]. Market Position - According to a Frost & Sullivan report, Health 160 ranks first among major industry players in terms of the number of registrations through its platform as of 2023, and third in revenue generated from digital healthcare solutions [5]. Service Network - As of June 30, 2024, Health 160's platform connects over 33,700 healthcare institutions, including more than 14,200 hospitals and over 19,400 grassroots healthcare institutions [6]. - The company collaborates with over 740,000 healthcare professionals and has registered 48.9 million individual users, with an average of 3 million monthly active users in the first half of 2024 [6]. Revenue Sources - Health 160's revenue comes from the sale of pharmaceutical health products and the provision of digital healthcare solutions [7]. Financial Performance - The company's revenue for the years 2021, 2022, 2023, and the first half of 2024 was RMB 422.83 million, RMB 525.65 million, RMB 628.61 million, and RMB 273.82 million respectively [14]. - The net losses for the same periods were RMB 152.41 million, RMB 120.07 million, RMB 106.20 million, and RMB 83.26 million [14]. Shareholder Structure - The pre-IPO shareholder structure includes Luo Ningzheng holding 33.99% through Luo Holdings Limited, and several entities controlled by Fu Zhekuan holding various percentages [8]. Management Team - The board of directors consists of 9 members, including the CEO Luo Ningzheng and several vice presidents [13][15].

智通财经APP获悉，开源证券发布研报称，OCI和股票自营、海外业务高增或带来券商中报超预期，预 计2025H1上市券商业绩同比增速有望超50%(扣非口径)，环比增速可期。2024年新国九条、央行等金融 部委组合拳稳股市的长效影响延续，个人投资者和中长资金持续流入，交易活跃度中枢抬升逻辑验证， 券商港股业务和投行业务逐步改善，当下估值仍在低位，机构欠配显著，继续推荐券商板块机会。关注 业绩预告、稳定币主题以及基准回补等催化。 经纪+权益自营+海外驱动中报同比高增，债券自营+投行支撑Q2环比 (1)预计经纪业务、权益自营和海外业务同比高增是券商中报净利润增长核心驱动因素。2025H1市场日 均股基交易额1.6万亿，同比+66%，驱动证券行业经纪业务同比高增。市场震荡上涨+交易量活跃利好 券商权益自营投资以及相关衍生品业务(2024年初市场波动导致部分券商衍生品业务亏损)，2025H1沪深 300/万得全A上涨0.3%/5.8%(2024H1为+0.9%/-8.0%)。上半年港股市场景气度较高，2025上半年香港市 场现货ADT 2402亿港元，同比+118%，北向ADT 1713亿人民币，同比+32%，南向ADT ...