Core Viewpoint - Recent activities in the secondary market for Sci-Tech bonds indicate a significant innovation in trading mechanisms, enhancing liquidity and broadening financing channels for technology enterprises [2][3][4][5]. Group 1: Trading Innovations - GF Securities and Industrial Bank executed the first bond lending transaction for Sci-Tech bonds on the Shenzhen Stock Exchange, totaling 40 million yuan [2]. - CITIC Securities and Everbright Bank successfully completed a repurchase transaction using "National Development Floating Rate Sci-Tech Bonds" as collateral, amounting to 50 million yuan [4]. - Industrial Bank and Dongfang Securities conducted the first buyout repurchase transaction in the interbank market using "National Development Sci-Tech Bonds" as collateral, with a transaction value of 210 million yuan [5]. Group 2: Market Impact - The introduction of these transactions is expected to enrich the variety of Sci-Tech bond trading, increase market activity, and improve the functionality of the secondary market [2][3][4]. - The People's Bank of China and the China Securities Regulatory Commission have issued guidelines to support the issuance of Sci-Tech bonds, encouraging market participants to finance technology innovation and industrial upgrades [2]. - The successful execution of these transactions is seen as a practical example that enhances the liquidity of Sci-Tech bonds and attracts more market participants [3][4]. Group 3: Institutional Responses - GF Securities aims to leverage its expertise in bond trading to enhance the liquidity and financing capabilities of Sci-Tech bonds, thereby attracting more investors [3]. - CITIC Securities plans to continue focusing on the construction of a trading ecosystem to lower financing costs for Sci-Tech enterprises [4]. - Industrial Bank is committed to expanding the asset utilization range for investors and reducing financing costs for technology enterprises through innovative trading mechanisms [5].

12月20日，中国证监会官网披露，芯和半导体科技（上海）股份有限公司及其辅导券商中信证券向上海 证监局提交了辅导工作完成报告。中信证券在结论中写道：经辅导，中信证券认为，辅导对象具备成为 上市公司应有的公司治理结构、会计基础工作、内部控制制度，充分了解多层次资本市场各板块的特点 和属性；辅导对象及其董事、高级管理人员、持有百分之五以上股份的股东和实际控制人（或其法定代 表人）已全面掌握发行上市、规范运作等方面的法律法规和规则、知悉信息披露和履行承诺等方面的责 任和义务，树立了进入证券、市场的诚信意识、自律意识和法治意识。 ...

Core Viewpoint - The recent IPOs of Muxi Co. and Moer Thread have set new records for profitability in the A-share market, with significant gains for both investors and underwriting securities firms [1][3]. Group 1: IPO Performance - Muxi Co. achieved a maximum floating profit of approximately 395,200 yuan per share on its first trading day, while Moer Thread reached about 286,900 yuan [1][3]. - The total number of new A-share listings in 2023 has surpassed last year's total, with 105 companies raising a total of 120.99 billion yuan, reflecting an increase of over 80% compared to the previous year [7]. Group 2: Underwriting Revenue - Huatai United Securities, the underwriter for Muxi Co., is expected to earn 268 million yuan in underwriting fees and over 652 million yuan in investment floating profits [3][5]. - CITIC Securities, the underwriter for Moer Thread, anticipates receiving over 100 million yuan in underwriting fees and more than 828 million yuan in investment floating profits [5]. Group 3: Market Trends - The overall IPO market has shown signs of recovery, with a structural improvement emphasized by regulatory support for high-quality expansions in sectors aligned with national strategies [7][9]. - The underwriting and sponsorship fees generated by A-share companies have contributed 5.932 billion yuan to securities firms, marking a growth of over 30% compared to the previous year [7][9]. Group 4: Competitive Landscape - Leading firms such as CITIC Securities, Huatai United Securities, and Guotai Junan have dominated the underwriting market, with significant shares of the total underwriting fees [9][10]. - The competition among securities firms has shifted from merely securing project numbers to focusing on high-value, high-tech projects, reflecting a change in market dynamics [10]. Group 5: Strategic Investment and Risks - Securities firms have engaged in strategic placements and underwriting, with a total of over 30 billion yuan in floating profits from 16 new stocks on the Sci-Tech Innovation Board [11][16]. - The strategic placement system requires underwriters to hold shares for 24 months, introducing uncertainty regarding the realization of floating profits due to market volatility [14][16].

21世纪经济报道记者易妍君见习记者刘夏菲 两家公司分别在上市首日创造了一签28.69万元和39.52万元的最高浮盈，一再刷新A股"最赚钱新股"的纪录。 低至万分之三的中签率，上市首日一签近40万元的最高浮盈......近日，随着沐曦股份的上市，A股"最赚钱新股"的纪录再度被刷新。 "国产GPU双子星"摩尔线程、沐曦股份接连登陆科创板，一场属于投资者的"打新狂欢"也在年末达到顶点。 不过，在投资者们计算着"中一签能赚多少"的同时，陪伴公司"闯关"上市的承销保荐券商，究竟能赚多少钱？ 拆解承销保荐券商的收益账单，两条线索清晰浮现。一是服务性收入，主要包括IPO发生时即确认、在招股书中已披露的保荐承销费；二是投资性收入，包 括余额包销股份和战略配售跟投股份，随股价波动而形成的浮动盈亏，属风险性筹码。 据此计算，沐曦股份的保荐人华泰联合证券，将从这个IPO项目中获得一笔2.68亿元的保荐承销费，以及超6.52亿元的投资浮盈。而摩尔线程的保荐人中信 证券，预计将获得一笔或超1亿元的保荐承销费，以及超8.28亿元的投资浮盈（以12月18日收盘价计算）。 在这个盛大的财富故事背后，券商作为"隐形赢家"的"生意经"正徐徐摊开 ...

Core Viewpoint - The forum highlighted the theme "China's Determination in Changing Circumstances," emphasizing the ongoing challenges and structural adjustments within the Chinese economy, with expectations for a more balanced and higher-quality growth in the coming years [1][13]. Economic Analysis - The core issue facing the Chinese economy is insufficient effective demand, which is complex and cannot be resolved through simple aggregate policies. This requires a nuanced approach across consumption, asset prices, capital markets, and investment [3][5]. Consumption - Policies like trade-in subsidies have positively impacted durable goods consumption, but their effectiveness may diminish over time due to product update cycles. Future policies should shift from "investing in goods" to "investing in people," focusing on service goods and infrastructure investments that serve human needs [3][7]. - Income subsidies, such as those for childbirth and early childhood education, are seen as positive steps, with expectations for increased support during the 14th Five-Year Plan period [3][7]. Asset Prices and Capital Markets - Enhancing residents' property income is crucial, with the real estate market's recovery dependent on the speed of inventory clearance. This requires coordinated monetary and fiscal policies [3][8]. - The capital market has shown positive performance this year, but its sustainability as a "long bull" or "slow bull" market hinges on continuous improvement in corporate profits, which is tied to macroeconomic recovery [3][10]. Investment and Fiscal Policy - The current phase is characterized by "central leverage and local deleveraging," with local fiscal policy space expected to recover as some regions exit debt resolution lists. Long-term reforms are necessary to reduce reliance on land finance [4][12]. - The need for sustainable local fiscal reforms involves tax system changes, the division of responsibilities and rights, and optimizing industrial layouts [4][12]. Conclusion - The Chinese economy's imbalance is rooted in multiple intertwined issues, including consumption structure, income distribution, capital market functionality, and macro policy innovation. Addressing these challenges requires targeted strategies that balance short-term adjustments with long-term reforms [5][13].

登录新浪财经APP 搜索【信披】查看更多考评等级 证券代码：600030 证券简称：中信证券 公告编号：临2025-101 中信证券股份有限公司 关于董事会延期换届选举的公告 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。 公司第八届董事会任期将于2025年12月29日届满，鉴于相关董事候选人的提名尚未结束，换届选举仍在 筹备中，为保证董事会工作的连续性，公司第八届董事会将延期换届，直至公司股东根据公司《章程》 规定于股东会上批准组成新一届董事会。同时，第八届董事会专门委员会和高级管理人员的任期将相应 顺延。公司董事会延期换届不会影响公司的正常运营。公司将尽快完成董事会换届选举，并及时履行相 应的信息披露义务。 在换届选举完成之前，公司第八届董事会全体成员及高级管理人员将根据法律法规、公司股票上市地证 券交易所上市规则和公司《章程》的有关规定继续履行相应职责。 特此公告。 中信证券股份有限公司董事会 2025年12月19日 证券代码：600030 证券简称：中信证券 公告编号：临2025-100 中信证券股份有限公司关于完成公 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 证券代码：600030 证券简称：中信证券 公告编号：临2025-102 中信证券股份有限公司 关于募投项目结项并注销募集资金专户的 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： ● 本次结项的募投项目名称：发展资本中介业务、增加对子公司投入、加强信息系统建设及补充其他营 运资金。 ● 公司拟将募投项目全部结项后的节余募集资金永久补充流动资金。尚未支付的发行费用，公司将使用 自有资金支付。 一、募集资金基本情况 ■ 二、本次募投项目结项情况 ■ 注：募集资金用于发展资本中介业务已全部使用完毕，实际投入金额与承诺投入金额的差额为H股募集 资金实际使用日与验资当日的港币汇率波动所致。 三、募集资金专户存储情况 截至2025年6月30日，A股募集资金存放情况如下： ■ 注：中信银行北京瑞城中心支行募集资金专户余额人民币96,902,313.85元，其中包括A股募集资金银行 账户利息净收入 ...

中信证券(06030)发布公告，经临时股东大会选举，公司第八届董事会增补张长义先生为执行董事，李 艺女士、梁丹先生、张学军先生为非执行董事，刘俏先生、李兰冰女士为独立非执行董事，任期自2025 年12月19日起，至第八届董事会届满之日。 中信证券(06030)发布公告，经临时股东大会选举，公司第八届董事会增补张长义先生为执行董事，李 艺女士、梁丹先生、张学军先生为非执行董事，刘俏先生、李兰冰女士为独立非执行董事，任期自2025 年12月19日起，至第八届董事会届满之日。 本文作者可以追加内容哦 ! 自2025年12月19日起，张麟先生不再担任公司非执行董事、董事会发展战略与ESG委员会委员。公司对 张麟先生任职期间为本公司发展所做出的贡献表示衷心感谢。 经公司第四届职工代表大会第五次全体会议选举，并经公司内部公示期满无异议，施亮先生为公司第八 届董事会职工董事，任期自2025年12月19日起，至第八届董事会届满之日。追加内容 ...

智通财经APP讯，中信证券(06030)发布公告，将于2026年2月9日派发截至2025年6月30日止6个月的中期 股息每10股3.1538港元。 ...

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份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：6030） 海外監管公告 本公告乃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。 茲載列中信証券股份有限公司（「本公司」）在上海證券交易所網站刊登的本公司關於募 投項目結項並註銷募集資金專戶的公告，僅供參閱。 承董事會命 中信証券股份有限公司 董事長 張佑君 中國北京 2025年12月19日 於本公告刊發日期 ，本公司執行董事為張佑君先生 、鄒迎光先生及張長義先生；本公司非執行董事為李艺女士 、 梁丹先生、張學軍先生、付臨芳女士、趙先信先生及王恕慧先生；本公司獨立非執行董事為李青先生、史青春 先生、張健華先生、劉俏先生及李蘭冰女士；及本公司職工董事為施亮先生。 证券代码：600030 证券简称：中信证券 公告编号：临2025-102 中信证券股份有限公司 关于募投项目结项并注销募集资金专户的公 ...