Core Points - Shanghai Zhengfan Technology Co., Ltd. issued 9,437,854 shares at a price of RMB 19.39 per share, raising a total of RMB 182,999,989.06, with net proceeds after expenses being undisclosed [1] - The underwriting and continuous supervision of the stock issuance is handled by Guotai Junan Securities Co., Ltd. and later by Haitong Securities Co., Ltd. until December 31, 2024 [1][2] - The company has a registered capital of RMB 283.606254 million and is listed on the Shanghai Stock Exchange with the stock code 688596.SH [2] Summary of Underwriting Work - The underwriting institution is responsible for ensuring compliance with regulations and monitoring the company's governance and internal control systems [3] - The issuer has cooperated well with the underwriting institution, providing timely communication and necessary documentation for effective supervision [3][4] - The issuer's fundraising has been stored in a dedicated account and used according to legal requirements, with no violations reported [4] Evaluation of Securities Service Institutions - The securities service institutions engaged by the issuer have complied with legal requirements and provided timely professional reports and advice during the continuous supervision phase [4] Conclusion on Information Disclosure - The underwriting institution has reviewed the issuer's information disclosure documents and confirmed compliance with relevant regulations, ensuring that all disclosures are accurate and timely [4] Use of Raised Funds - The underwriting institution has audited the use of raised funds, confirming that they have been stored and used in accordance with regulations, with no violations noted [4]

Profit Distribution Matters - The company plans to distribute a cash dividend of 2.80 yuan (including tax) for every 10 shares to all shareholders, amounting to a total cash dividend of 81,784,031.28 yuan (including tax) based on a total share capital of 292,085,826 shares as of the announcement date [1][2] - The company reported a net profit attributable to shareholders of 527,748,576.32 yuan for the fiscal year 2024, with retained earnings of 1,055,820,501.18 yuan as of December 31, 2024 [1][2] Board Approval and Future Adjustments - The profit distribution proposal was approved in meetings held on April 28, 2025, by both the Board of Directors and the Supervisory Board, and it will be submitted for approval at the 2024 annual general meeting [2] - Any changes in total share capital due to convertible bond conversions, share buybacks, or other corporate actions will result in adjustments to the per-share distribution ratio while maintaining the total distribution amount [2] Impact Analysis - The profit distribution plan considers the company's current development stage and future funding needs, indicating it will not significantly impact the company's operating cash flow or long-term development [2] - The proposal complies with relevant laws and regulations, ensuring it does not adversely affect the safety of bond principal and interest payments or the company's debt repayment capacity [2][3]

国泰海通证券股份有限公司 关于实朴检测技术（上海）股份有限公司 保荐人名称：国泰海通证券股份有限公司 被保荐公司简称：实朴检测 保荐代表人姓名：曾军 联系电话：021-23180000 保荐代表人姓名：石冰洁 联系电话：021-23180000 一、保荐工作概述 项目 工作内容 （1）是否及时审阅公司信息披露文件 是 （2）未及时审阅公司信息披露文件的次数 0 的情况 （1）是否督导公司建立健全规章制度（包 括但不限于防止关联方占用公司资源的制 是 度、募集资金管理制度、内控制度、内部审计 制度、关联交易制度） （2）公司是否有效执行相关规章制度 是 （1）查询公司募集资金专户次数 2 （2）公司募集资金项目进展是否与信息披 是 露文件一致 （1）列席公司股东大会次数 0 （2）列席公司董事会次数 0 （3）列席公司监事会次数 0 （1）现场检查次数 2 （2）现场检查报告是否按照本所规定报送 是 项目 工作内容 公司2024年存在关联交易未履行必要的审 议程序及信息披露程序情形，保荐机构在 获悉此事后对公司进行了专项现场检查。 （3）现场检查发现的主要问题及整改情况 公司已履行关联交易审议程序，追认上述 关 ...

Core Viewpoint - The eighth New Fortune Best Investment Advisor Selection has attracted a record number of participants, with 39,893 qualified advisors from 90 securities firms, marking a significant increase in engagement within the industry [1][3]. Group 1: Participation Statistics - A total of 40,350 professionals registered for the competition, with 39,893 meeting the eligibility criteria, setting a new record for participation [1]. - Eleven securities firms had over 1,000 advisors participating, with GF Securities leading at 4,385 participants, followed by China Galaxy Securities and CITIC Securities with 3,860 and 3,477 respectively [3][5]. - The top 10 firms accounted for 25,913 participants, representing 65% of the total [3][5]. Group 2: Regional Distribution - Participants came from 31 regions across China, with Guangdong, Shanghai, Shandong, Zhejiang, and Beijing contributing the highest numbers, totaling 6,192, 2,942, 2,608, 2,537, and 2,401 respectively, which together account for 41.81% of the total [14]. - The advisors were distributed across 325 cities, with the top 20 cities contributing 19,848 participants, or 49.75% of the total [14]. Group 3: Evaluation Phases - The evaluation process consists of two main phases: the first phase, "Investment Management Capability Evaluation," runs from May 1 to October 31, 2025, focusing on stock trading and ETF groups [16][17]. - The second phase, "Service Capability Evaluation," will commence in November, with final results to be announced by the end of December 2025 [17]. Group 4: Technological Integration - The competition will utilize the Go-Goal platform, which includes an AI-driven tool called "Xiao Er Q&A" to assist advisors in their investment strategies, particularly in ETF selection and configuration [19]. - The focus on ETFs has increased due to the removal of the public fund allocation group, indicating a shift in investment strategies within the advisory community [19].

科创债发行主体扩容之后，券商积极响应。 沪深交易所官网显示，5月8日，中信证券、国泰海通、华泰证券、中国银河、申万宏源证券、中信建投、招商 证券、东方证券、平安证券、长城证券、国联民生、华福证券共计12家券商披露了公开发行科技创新公司债券 的公告，累计发行规模达到177亿元。另外，记者了解到，还有东吴证券等多家券商已提交了相关申请，但尚 未披露。 "科创债发行主体范围扩宽，契合了券商在服务科创企业的资金需求。证券公司不仅能为科创企业提供高质量 承销服务，还可以在股权、债券、基金投资、做市服务等方面为科创企业提供全方位的服务。"招商证券资金 部门相关负责人告诉券商中国记者。 券商"抢滩"科创债 5月7日，中国人民银行、中国证监会联合发布关于支持发行科技创新债券有关事宜的公告，其中一大亮点是在 发行主体上新增支持商业银行、证券公司、金融资产投资公司等金融机构发行科技创新债券。 "金融机构纳入科创债发行主体范围将推动科创债市场进一步扩容，增强贷、债、股资金支持科技创新的联动 性，拓宽科创债产品边界，全面提升市场活力。"中证鹏元研发部高级董事高慧珂对券商中国记者表示。 政策风起，券商也积极行动。上交所和深交所官网显示 ...

Summary of Key Points Core Viewpoint - The announcement details the lifting of the lock-up period for 38,024,000 shares of Guangdong Desheng Technology Co., Ltd., which represents 8.81% of the company's total share capital, scheduled for May 14, 2025 [1][7]. Group 1: Basic Information on the Lifting of Lock-up Shares - The shares were issued to the controlling shareholder, Mr. Guo Xiaobin, at a price of RMB 10.42 per share, with the initial issuance of 19,400,000 shares approved by the China Securities Regulatory Commission [1][8]. - Following the 2021 and 2022 annual profit distribution plans, the number of shares increased to 27,160,000 and then to 38,024,000 respectively [2][9]. Group 2: Listing and Circulation Arrangements - The lifting of the lock-up period will allow the shares to be listed and circulated starting May 14, 2025 [3][12]. - The total number of shares to be released from lock-up is 38,024,000, with one shareholder, Mr. Guo Xiaobin, holding these shares [3][12]. Group 3: Shareholder Commitments and Compliance - Mr. Guo Xiaobin has made commitments regarding the non-use of company funds for non-operational purposes, and there are no violations regarding guarantees that could harm the company's interests [4][13]. - The sponsor institution, Guotai Junan Securities Co., Ltd., has confirmed that the lifting of the lock-up period complies with relevant regulations and that the information disclosed by the company is accurate and complete [5][13].

Group 1 - The company will hold its 2024 Annual General Meeting (AGM) on May 29, 2025, at 13:30 in Shanghai [2][4] - Voting will be conducted through a combination of on-site and online methods, with specific time slots for each [2][3] - The online voting system will be provided by the Shanghai Stock Exchange, with voting available from 9:15 to 15:00 on the day of the meeting [2][3] Group 2 - The AGM will review various reports, including the assessment and compensation of directors, supervisors, and senior management for 2024 [5] - Special resolutions and separate voting for minority shareholders will be included in the agenda [6] - Certain shareholders are required to abstain from voting on specific resolutions due to conflicts of interest [6] Group 3 - The company will utilize a reminder service to ensure that minority shareholders are informed and can participate in the voting process [7] - Shareholders with multiple accounts can aggregate their voting rights across all accounts [7][8] - The company has outlined specific registration procedures for both individual and institutional shareholders attending the meeting [11][13]

每周一景： 云南玉龙雪山 点击右上角菜单，收听朗读版 【 宏观】货币宽松"再发力"——5月7日央行一揽子货币政策点评 降准降息落地，在关键时点释放出"适度宽松"来"稳增长、稳市场"的明确信号，体现了央行前瞻部署、主 动作为。 一揽子三大类 10 项货币政策组合，体现了货币政策总量与结构协同发力，对实体和资本市场的 全面支持。在外部关税冲击、内需还待提振的背景下，央行宽松周期预计将延续，接下来如果经济压力进 一步增加，降息降准等仍有空间。 财政或继续加快债券发行节奏，尤其是增加对消费领域支持力度，如有必要，下半年或继续增加全年财政 额度；房地产政策也有望进一步放松。另外 ，出口方面的针对性支持政策也在加码。 短期来看，关税摩擦对市场预期的影响相比于前期可能已在减弱，预期冲击最大的时候可能已经过去。 不 过从对经济的影响来看，实际冲击可能从 4 月数据开始逐步显现，再加上当前内需还要进一步巩固的背景 下，更需关注接下来国内经济基本面变化：一是 4 月出口可能还有前期抢出口的支撑，但 5 、 6 月份数 据可能会明显体现关税的冲击；二是地产的止跌企稳可能还需要更多政策支持，三是居民部门资产负债表 压力或未明显缓解。 ...

Group 1 - The article discusses the stabilization and slight recovery of the A-share market following the impact of "reciprocal tariffs," suggesting a balanced investment strategy with a slight tilt towards growth stocks while emphasizing the importance of stock selection and risk control by fund managers [2] - In April, the manufacturing PMI was reported at 49.0%, a decrease of 1.5 percentage points from the previous month, indicating a shift in economic sentiment due to trade tensions [2] - The article highlights that the focus of Sino-US competition extends beyond trade to technology and productivity advantages, suggesting that emerging technologies will remain a key investment theme in the medium to long term [2] Group 2 - For bond funds, the report recommends focusing on government bonds with specific maturities (7-year or 20-year) and suggests a strategy of "bullet" operations to enhance yields [3] - The article notes that global central bank gold purchasing behavior reflects a long-term restructuring of the global monetary system, driven by rising trade protectionism and economic restructuring [3] - It emphasizes that the current gold bull market is distinct due to changes in driving factors and pricing frameworks, suggesting a prolonged cycle for gold investments [3]

1. 60后似乎最具消费潜力 人们之所以高度关注银发经济，重要背景在于我国已于2021年正式步入重度老龄化社会。至2024年底，我国65 岁及以上老年人口达2.2亿，占总人口数的15.6%。随着老年人口持续增长，老年群体所蕴含的消费潜力受到重 视。其中60后作为刚步入初老阶段的一代，兼具庞大人口基数与深厚财富基础，似乎是当前最具消费潜力的核 心群体。 人口结构：60后群体是当前中国人口中最为庞大的一代。 根据国家统计局人口抽样调查数据，按每10年为一 代划分，截至2023年底，我国50-59岁人群数量最多，达2.4亿人，占总人口的16.5%；其次是30-39岁人群，数 量约2.2亿，占比15.5%。这两个年龄段分别对应了建国以来的第二次与第三次婴儿潮：1）1962 -1973年是我国 人口增长最快的时期，三年自然灾害结束后，经济形势逐步改善，带来一轮补偿性生育高峰。在此阶段，年均 出生人口稳定在2500-3000万人，形成了"60后"这一超大规模群体；2）此后，随着60后一代进入生育年龄， 1981-1997年迎来"回声婴儿潮"。尽管受1978年计划生育写入宪法影响，此阶段出生人口有所下滑，但年均出 生人数依 ...