Group 1: Global Economic Impact - The ongoing geopolitical influences and misalignment of monetary policies are expected to fundamentally reshape purchasing power across both private and public sectors in the medium to long term [1] - Japan's prolonged ultra-loose monetary policy is reportedly helping the country emerge from a "deflation trap," with the yen's depreciation significantly boosting overall demand [1] - Despite a 40% increase in the average price of second-hand homes in Tokyo over five years and a nearly 20% rise in major stock indices, the actual purchasing power of residents has declined due to high input inflation [1] Group 2: Domestic Market Overview - The domestic equity market has shown continued volatility, with a notable focus on the fourth quarter as a critical period for industry information and monetary policy direction [2][34] - The uncertainty in policy is expected to decrease marginally, while the sustainability of the computing power sector will face ongoing scrutiny from the market [34] - Smaller stocks are anticipated to benefit more from the market's expansion trends compared to larger stocks [34] Group 3: Convertible Bond Market - The convertible bond market has seen an overall increase of 0.48% during the week, with 20 out of 29 sectors experiencing gains [47] - The average daily trading volume in the convertible bond market reached 636.11 billion yuan, reflecting a significant increase of 29.75 billion yuan from the previous week [47][48] - Approximately 63.48% of convertible bonds recorded an increase in value, with 15.37% of bonds rising more than 2% [48] Group 4: Sector Performance - Among the 31 sectors, 19 experienced gains, with retail, non-bank financials, and beauty care leading the way with increases of 6.66%, 2.90%, and 2.87% respectively [45] - Conversely, sectors such as electronics and power equipment faced declines, with drops of -3.28% and -3.12% respectively [45]

（编辑 袁冠琳） 证券日报网讯 12月16日，国投资本在互动平台回答投资者提问时表示，公司以建设具有国投特色的产 业金融管理平台为目标，正在积极推动国投证券加快业务转型，打造"有核心竞争力、突出特色的一流 产业投行"，努力提升金融业务的回报率、稳定性和抗风险能力。此外，公司将主动迎接资本市场改革 带来的机遇与挑战，多措并举推动公司高质量发展，相关事项敬请以公告为准。 ...

证券日报网讯 12月16日，国投资本在互动平台回答投资者提问时表示，根据公开信息，公司发行的80 亿元可转换公司债券将于2026年7月23日到期。目前公司整体财务状况稳健，资产负债率处于行业合理 水平，未来公司将根据经营情况与市场环境，统筹规划好可转债相关工作，相关事项敬请以公告为准。 （文章来源：证券日报） ...

（文章来源：证券日报） 证券日报网讯 12月16日，国投资本在互动平台回答投资者提问时表示，国投资本严格遵循"效益增、薪 酬增，效益降、薪酬降"的原则，建立了薪酬与效益挂钩联动的核定机制，努力增强企业内生动力。今 年以来，公司进一步加强成本管理，合理调整薪酬计提方式，根据月度效益预提职工薪酬，节奏较以往 一次性计提更加平滑，不会影响全年薪酬计提总额。目前公司整体财务状况稳健，资产负债率处于行业 合理水平，未来公司将根据经营情况与市场环境，统筹规划好可转债相关工作，相关事项敬请以公告为 准。 ...

Core Viewpoint - The company emphasizes the importance of balancing investment and non-investment businesses to enhance overall stability and profitability [2] Financial Performance - In the first half of 2025, the net income from brokerage business reached 2.286 billion yuan, representing a year-on-year growth of 28.12% [2] - The number of newly signed clients in the fund advisory business increased by 11,420, with the effective client acquisition rate for new personal clients improving by 72.5% year-on-year [2] - As of June 30, 2025, the company's assets under management (AUM) exceeded 1.6 trillion yuan, growing by over 192 billion yuan since the beginning of the year [2] Client Services and Strategy - The company is benefiting from the influence of the "Guotou" brand and its rich industrial resources, leading to a 38% year-on-year growth in the asset scale of institutional clients [2] - Future plans include deepening the transformation of industrial investment banking, advancing comprehensive services for entrepreneurs, and implementing a wealth management transformation focused on "research, investment, and advisory" [2]

Core Viewpoint - Guotou Capital announced that it will not exercise the downward adjustment of the conversion price for its convertible bonds, "Guotou Convertible Bonds," despite meeting the conditions for such an adjustment as of December 12, 2025 [2] Summary by Sections Company Announcement - As of December 12, 2025, the company's stock price has been below 80% of the current conversion price for at least 15 out of any 30 consecutive trading days, triggering the downward adjustment clause for "Guotou Convertible Bonds" [2] - The company's board of directors has resolved not to exercise the right to adjust the conversion price downwards at this time [2] - For the next three months (from December 13, 2025, to March 12, 2026), if the conditions for downward adjustment are met again, the company will also not propose a downward adjustment plan [2] - Starting from March 13, 2026, if the downward adjustment clause is triggered again, the board will hold another meeting to decide whether to exercise the right to adjust the conversion price [2]

Group 1 - The core point of the article is that Guotou Capital announced the results of its board meeting and provided insights into its revenue composition for 2024 [1] - The company held its ninth board meeting on December 12, 2025, via telecommunication, where it reviewed the proposal regarding the non-adjustment of the conversion price for "Guotou Convertible Bonds" [1] - As of the report, Guotou Capital has a market capitalization of 48 billion yuan [1] Group 2 - For the year 2024, Guotou Capital's revenue composition is as follows: 71.62% from the securities industry, 9.9% from other businesses, 9.33% from the trust industry, and 9.16% from the fund industry [1]

一、可转债发行上市概况 经中国证券监督管理委员会《关于核准国投资本股份有限公司公开发行可转换公司 债券的批复》（证监许可[2020]1070 号）核准，公司于 2020 年 7 月 24 日公开发行了 8,000 万张可转换公司债券，每张面值 100 元，发行总额 80 亿元，期限为发行之日起 6 年。 | 证券代码：600061 | 证券简称：国投资本 | 公告编号：2025-083 | | --- | --- | --- | | 转债代码：110073 | 转债简称：国投转债 | | 国投资本股份有限公司 关于不向下修正"国投转债"转股价格的公告 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： 3. 因公司实施 2022 年年度利润分配方案，自 2023 年 6 月 15 日起，转股价格调整 为 9.66 元/股，详见《国投资本股份有限公司关于利润分配调整可转债转股价格公告》 （公告编号：2023-024）。 经上海证券交易所自律监管决定书[2020]265 号文同意，公司 800,000 万元可转换 公司 ...

证券代码：600061 证券简称：国投资本 公告编号：2025-082 国投资本股份有限公司 九届三十二次董事会决议公告 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。 一、董事会会议召开情况 《国投资本股份有限公司关于不向下修正"国投转债"转股价格的 议案》 表决结果：同意 6 票，反对 0 票，弃权 0 票。因公司控股股东国 家开发投资集团有限公司持有"国投转债"，董事白鸿、刘红波作为其股 权董事，审议本议案时回避表决。 公司董事会决议本次不行使"国投转债"的转股价格向下修正的权 1 利，且在未来三个月内（2025 年 12 月 13 日至 2026 年 3 月 12 日），如 再次触及可转债的转股价格向下修正条款，亦不提出向下修正方案。 从 2026 年 3 月 13 日开始重新起算，若再次触发"国投转债"的转股价 格向下修正条款，届时公司董事会将再次召开会议决定是否行使"国投 转债"的转股价格向下修正权利。 特此公告。 国投资本股份有限公司董事会 国投资本股份有限公司（以下简称"公司"）九届三十二次董事会于 2025 ...

● 本次会议是否有否决议案：无 一、会议召开和出席情况 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： (一)股东会召开的时间：2025年12月5日 (二)股东会召开的地点：北京市西城区阜成门北大街2号国投金融大厦505室 (三)出席会议的普通股股东和恢复表决权的优先股股东及其持有股份情况： ■ (一)非累积投票议案 1、议案名称：国投资本股份有限公司关于续聘2025年财务报表审计机构和内部控制审计机构的议案 审议结果：通过 表决情况： ■ (四)表决方式是否符合《公司法》及《公司章程》的规定，股东会主持情况等。 本次股东会由公司董事会召集，董事长崔宏琴女士主持本次股东会。本次股东会采用现场投票和网络投 票相结合的方式进行表决。会议的召集、召开、表决形式和程序符合《公司法》和《公司章程》的规 定。 (五)公司董事和董事会秘书的出席情况 1、公司在任董事7人，出席7人； 2、董事会秘书出席；部分高管列席。 二、议案审议情况 (四)关于议案表决的有关情况说明 律师：邢冬梅、杨嘉欣 2、律师见证结论意见： 2、议案名 ...