《上 国泰海通证券股份有限公司 关于重庆智翔金泰生物制药股份有限公司 核心技术人员调整的核查意见 根据《证券发行上市保荐业务管理办法》《上海证券交易所科创板股票上 市规则》《上海证券交易所科创板上市公司自律监管指引第 1 号——规范运作》 等有关法律、法规的规定，国泰海通证券股份有限公司（以下简称"国泰海通"、 "保荐机构"）作为重庆智翔金泰生物制药股份有限公司（以下简称"智翔金泰" 或"公司"）首次公开发行股票并在科创板上市持续督导的保荐机构，对智翔金 泰核心技术人员调整事项进行了核查，具体情况如下： 一、核心技术人员调整的具体情况 公司副总经理、核心技术人员常志远先生因个人发展，已向董事会申请辞去 副总经理职务。常志远先生辞任后，将不再担任公司任何职务。截至本核查意见 出具日，常志远先生持有公司股份 2,500,000 股。常志远先生承诺将继续遵守《上 市公司股东减持股份管理暂行办法》 《上海证券交易所科创板股票上市规则》 海证券交易所上市公司自律监管指引第 15 号——股东及董事、高级管理人员减 持股份》等相关法律法规的规定以及公司首次公开发行股票期间所作承诺。 同时，根据公司的战略布局以及原核心技术人 ...

Core Insights - The 2025 "818 Wealth Management Festival" has commenced early, with multiple securities firms launching activities ahead of the official date, reflecting a shift in the industry towards longer engagement periods and richer pre-event activities [1][3][4] Group 1: Event Duration and Structure - Several securities firms have extended the duration of their "818 Wealth Management Festival" activities compared to previous years, with events now spanning from early August to mid-September [3][4] - For instance, Heng Tai Securities has set its event from August 11 to August 22, while Changcheng Securities has extended its activities from August 11 to September 14, marking a two-day increase from the previous year [3][4] Group 2: Integration of AI Technology - AI has emerged as a central theme in this year's festival, with firms like Guotai Haitong Securities introducing immersive AI interactive services, such as personality tests and AI investment advisors [6][7] - Securities firms are leveraging AI to enhance customer service throughout the investment process, aiming to provide personalized investment recommendations and improve decision-making efficiency [6][7] Group 3: Targeting Younger Demographics - The festival's activities have become more interactive and gamified, appealing to younger investors through competitions, quizzes, and engaging formats [8][9] - Firms are focusing on understanding the real market needs of investors, moving beyond mere product sales to create a more relatable and engaging experience [8][9] Group 4: Innovative Service Models - Companies like Guotai Haitong and Guangfa Securities are innovating their service models to include comprehensive ecosystems that cover asset allocation, strategy tools, and educational content [9][10] - The shift towards a more personalized and immersive service experience is driven by the growing demand from younger investors for unique and engaging financial interactions [10][11] Group 5: Future Trends - The industry is expected to continue evolving towards richer and more diverse event formats, integrating technology and personalized experiences to enhance customer engagement [11] - The transformation reflects a broader industry trend from short-term marketing tactics to long-term customer relationships and tailored services [11]

Core Viewpoint - The article discusses the career transition of Zhang Yichi, a well-known analyst in the electric and new energy sector, who is set to join Huachuang Securities as the deputy director of the research institute [1][5]. Group 1: Zhang Yichi's Career Background - Zhang Yichi has a strong academic background with a bachelor's degree in materials physics from Beijing University of Science and Technology, a master's in energy technology from Cambridge University, and a master's in financial economics from the London School of Economics [5]. - With 10 years of experience, Zhang has held prominent positions in various sectors, including public utilities and new energy, and has received accolades such as the 2nd and 4th best analyst in public utilities and the 4th best analyst in electric equipment and new energy from New Fortune [5][6]. - Prior to joining Huachuang Securities, Zhang worked at Haitong Securities and then at Caitong Securities, where she led industry research and team building [6][7]. Group 2: Huachuang Securities Research Institute - Huachuang Securities Research Institute, established in 2009, is recognized as one of the more established research institutions in the market, with a strong team and market influence [8]. - The institute has seven research centers covering nearly 30 industries, focusing on in-depth research in key sectors such as food and beverage, pharmaceuticals, transportation, electronics, and media [8]. - In 2024, Huachuang Securities reported total commission income of 259 million yuan, ranking 18th in the industry, and aims to provide customized research services for institutional investors [8].

Core Viewpoint - The 2025 "818 Wealth Management Festival" has commenced early, with multiple securities firms extending their activities and enhancing their service offerings, reflecting a transformation in the brokerage industry's service model from short-term marketing to long-term client engagement [1][5][10]. Group 1: Event Overview - The "818 Wealth Management Festival" has been held annually since 2017, and this year, several brokerage firms, including Heng Tai Securities and Changcheng Securities, have started their activities ahead of the official date [1][3]. - Heng Tai Securities launched its event from August 11 to 22, featuring trading activities and rewards such as cash red envelopes and advisory service coupons [3]. - Changcheng Securities extended its event duration to September 14, compared to the previous year, indicating a trend of longer promotional periods among firms [3][4]. Group 2: Service Model Transformation - The brokerage industry is undergoing a service model transformation, moving from single-point marketing to a strategy focused on continuous client engagement throughout the investment cycle [5]. - The "818 Wealth Management Festival" is evolving into a dual-driven system of "event ignition + long-term operation," aiming to convert short-term marketing activities into ongoing client support [5]. Group 3: Integration of AI Technology - AI has become a central theme in this year's festival, with firms like Guotai Haitong Securities offering immersive AI interactive experiences [6]. - National Gold Securities introduced an "AI Wealth Upgrade Plan" and an investment personality assessment tool to enhance decision-making for investors [6]. - The integration of AI is seen as a competitive advantage, allowing firms to better serve clients and meet personalized investment needs [7]. Group 4: Engagement with Younger Audiences - The festival features a variety of interactive and gamified activities aimed at attracting younger investors, such as competitions and quizzes [8]. - Firms are focusing on understanding real market demands through in-depth research, making the event more relatable and engaging for clients [8]. - Minsheng Securities is launching a game-based approach to enhance user engagement and provide personalized advisory services [8][9]. Group 5: Innovation in Service Offerings - National Gold Minsheng Securities is optimizing decision-making tools with a focus on low-cost and flexible payment models, responding to market demands for simplicity and effectiveness [9]. - Firms are building a comprehensive ecosystem that includes asset allocation, strategy tools, and educational content, moving beyond traditional product sales [9]. - Guangfa Securities is innovating by creating a "scene-based full-link companion ecosystem," integrating professional advisory services with social interaction [9].

Group 1 - The core announcement is about Guotai Junan Securities' plan to repurchase and cancel a total of 782,900 A-shares of restricted stock involving 24 incentive targets [1] - After the repurchase and cancellation, the remaining A-shares under the incentive plan will be adjusted to 2,998,600 shares [1] - The company has opened a dedicated securities account for the repurchase at the Shanghai branch of China Securities Depository and Clearing Corporation and has applied for the cancellation procedures, which are expected to be completed by August 15 [1]

Core Viewpoint - The legal opinion letter from Haiwen & Partners confirms that Guotai Junan Securities Co., Ltd. has obtained the necessary approvals and authorizations for the repurchase and cancellation of certain A-share restricted stocks under its equity incentive plan, in compliance with relevant regulations [6][10]. Group 1: Approval and Authorization - The company has obtained necessary approvals for the repurchase and cancellation of restricted stocks as per the "Proposal on the Repurchase and Cancellation of Certain A-share Restricted Stocks" [6]. - The legal opinion is based on the due diligence conducted by the law firm, which included reviewing relevant documents and discussions with company personnel [3][4]. Group 2: Repurchase Details - The repurchase is due to various reasons, including termination of labor contracts and performance assessment results, leading to a total of 611,524 shares being repurchased from 10 individuals [6][7]. - The repurchase price will be adjusted based on the original grant price and any dividends distributed, with specific adjustments made for past cash dividends [9]. Group 3: Compliance with Regulations - The reasons for the repurchase, the number of shares, and the repurchase price are all in accordance with the company's equity incentive plan and do not violate the relevant management regulations [10].

Core Viewpoint - The company announced the repurchase and cancellation of 782,867 A-share restricted stocks due to 24 incentive recipients failing to meet performance standards or having their labor contracts terminated [1][2]. Group 1: Repurchase and Cancellation Details - The decision to repurchase and cancel the restricted stocks was approved in meetings held on February 14, 2025, by the company's board and supervisory board [1]. - The repurchase involves 782,867 shares, including 585,123 shares from the initial grant at a price of 5.32 yuan per share and 197,744 shares from the reserved grant at a price of 6.19 yuan per share [1][2]. - The repurchase is expected to be completed by August 15, 2025 [2]. Group 2: Impact on Share Structure - Following the repurchase and cancellation, the total number of A-shares will decrease from 14,123,948,848 to 14,123,165,981, maintaining the same percentage of 80.11% [3]. - The remaining A-shares under the incentive plan will be adjusted to 2,998,610 shares after the cancellation [2][3]. Group 3: Legal Compliance and Commitments - The company confirmed that the repurchase and cancellation process complies with relevant laws and regulations, ensuring no harm to the rights of incentive recipients or creditors [5]. - A legal opinion from Beijing Haiwen Law Firm confirmed that the necessary approvals and authorizations for the repurchase have been obtained, aligning with the company's incentive plan [5].

截至记者发稿，有26家上市券商披露了2021年年报，占比63%，业绩表现各有千秋。"大而强"的头部券 商仍保持业绩稳定增长，已有9家上市券商跻身净利润"百亿元俱乐部"；其中，"券商一哥"中信证券以 765.24亿元的营业收入、231亿元的净利润遥遥领先，同比分别增长40.71%、55.01%；国泰君安、华泰 证券、海通证券、招商证券、广发证券、中金公司、中国银河和中信建投净利润均超100亿元，分别 为：150.13亿元、133.46亿元、128.27亿元、116.45亿元、108.54亿元、107.78亿元、104.3亿元、102.39 亿元。与上年相比，"百亿元俱乐部"增加了招商证券、中国银河、中信建投、中金公司。 随着首批上市券商2021年年报的披露，业绩轮廓已逐步显现，行业继续演绎"强者恒强"的竞争格局，已 有9家头部券商迈入净利润"百亿元俱乐部"。同时，部分中小券商已逐步打开局面，形成差异化竞争优 势。 如今，不少特色化中小券商正在创造更多惊喜，2021年，中原证券自营业务、投行业务的营业收入分别 同比大增365.61%、245.9%。同时，中银证券的资管收入、浙商证券的投行收入，均创出历史新高。 对 ...

Group 1 - The core point of the article highlights that at least 46 fully-owned subsidiaries of listed securities firms reported net profits exceeding 100 million yuan in 2021, with some subsidiaries outperforming many listed companies [2][3] - Haitong Securities' subsidiary Haitong Kaiyuan Investment leads with a net profit of 2.553 billion yuan, followed by CITIC Securities' subsidiary CITIC Securities Investment with 2.412 billion yuan, and Haitong Securities' Haitong Innovation with 1.683 billion yuan [2][3] - Among the 26 listed securities firms that have disclosed their 2021 annual reports, 19 reported net profits exceeding 1 billion yuan, indicating that 7 firms had lower profits than their subsidiaries [2][3] Group 2 - The article notes that the development of subsidiaries is a crucial aspect of the high-quality growth of the securities industry, with alternative investment subsidiaries showing significant profitability [3] - Four out of the eight subsidiaries with net profits over 1 billion yuan are from alternative investment sectors, demonstrating the success of these strategies [3] - The performance of subsidiaries varies significantly, with some achieving high profits while others report losses, particularly in international business segments [3] Group 3 - The growth of public funds managed by securities firms has become a significant profit source, with 23 public fund companies reporting their 2021 performance, and 16 of them achieving net profits over 100 million yuan [4][5] - Notable public funds include E Fund, which reported a net profit of 4.535 billion yuan, and Huitianfu Fund with 3.263 billion yuan, both showing substantial year-on-year growth [4][5] - Six public fund companies reported net profit growth exceeding 50%, contributing significantly to the overall performance of their parent securities firms [5][6] Group 4 - Five public fund subsidiaries contributed over 10% to the net profits of their parent securities firms, highlighting the importance of these funds in the overall profitability of the firms [6] - Contributions include 32.3% from Yinhua Fund to First Capital and 24.03% from Xingzheng Global Fund to Xingye Securities, showcasing the interdependence between securities firms and their fund subsidiaries [6]

Core Insights - The securities industry is accelerating its digital transformation, with financial technology evolving from a service role to a leading and empowering role [1] - A total of 22 listed securities firms have disclosed their information technology investments for 2021, amounting to 14.178 billion yuan, with each firm investing over 100 million yuan [1][2] Investment in Information Technology - The securities industry has significantly increased its investment in information technology, with cumulative investments reaching 84.5 billion yuan from 2017 to 2020, and the total is expected to exceed 100 billion yuan in the last five years [2] - Major firms like Huatai Securities, CICC, and others have invested over 1 billion yuan in 2021, with Huatai Securities leading at 2.228 billion yuan [2][3] - The proportion of IT investment relative to operating income is increasing, with Huayin Securities having the highest ratio at 25.17% [3] Talent and Human Resources - Talent is crucial for the digital transformation of financial institutions, with firms like招商证券 and 中信建投 employing over 1,000 IT personnel, representing more than 9% of their total workforce [4] - The industry recognizes the importance and urgency of digital transformation, but challenges such as unclear goals and a lack of digital talent remain [4] Information Security Concerns - Information security is a top priority, as the operation and maintenance of trading systems are critical for online business [5] - Despite significant investments in IT, firms like 招商证券 have faced information security incidents, highlighting the need for improved management and emergency response [5] - Regulatory measures have been updated to ensure timely and accurate reporting of cybersecurity incidents in the securities industry [6]